Baltic overall index rises to two-week high on higher capesize rates

The Baltic Exchange’s main sea freight index which measures the cost of shipping goods worldwide, hit a two-week peak on Thursday (Sept. 8), surging about 5.6% helped by a jump in capesize vessel rates. The capesize index, which tracks vessels typically transporting 150,000-tonne cargoes such as iron ore and coal, jumped 155 points, or nearly 15%, to 1,189. “Volumes remain consistent for

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China, Greece explore deeper cooperation on shipping and trade

Chinese and Greek representatives of public and private sectors explored potential to boost bilateral cooperation on shipping and trade during an investment event on Tuesday (April 25). Organized by Shanghai’s Pilot Free Trade Zone Lingang Special Area at the premises of Piraeus Port Authority S.A., (PPA) a member of China’s COSCO Shipping group, the event was attended by Chen Jinshan, a member

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What 2023 holds for the global shipping industry

After over two years of record-high freight rates and historic disruption, 2023 has began with most industry stakeholders expecting a mixed bag for the various shipping segments. Fitch Ratings has revised its outlook for shipping to deteriorating from neutral, reflecting the challenges facing Container Shipping. The rating agency forecast that Tankers and Dry Bulk will remain stable, with the former the most

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Impact of Russia-Ukraine conflict on shipping stocks

The ongoing Russia-Ukraine conflict has led investors to rush to safe-haven assets. They are selling assets with high price volatility such as equities, commodities, and high-yield bonds, preferring safer harbors such as gold acquisitions. The crisis’s effect on the shipping industry has been mixed: tanker, LNG and LPG shipping equities have trended up while other sectors have remained flat or declined, according

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Baltic Exchange Dry Bulk Index near 3-week high

The Baltic Exchange’s dry bulk index rose 5.7% to 1,503 on Tuesday (Feb. 8), its highest since January 19th, amid strong demand across all its vessels segments. The index, which provides a benchmark for the price of moving the major raw materials by sea, is issued daily by the London-based Baltic Exchange and is a composite of three sub-indices that measure different sizes of

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Port of Koper container terminal set to break record

Luka Koper, the operator of Slovenia’s Port of Koper expects to end 2021 with 996 thousand TEUs handled, which represents a new historic record, the port operator said on Thursday (Dec. 30), On Wednesday (Dec. 29), the Container terminal of the Port of Koper beat the previous container throughput record of 988,501 TEUs set in 2018. “This is an important milestone, especially

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