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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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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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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Newbuilding contracting activity is picking up pace with ship owners’ buying interest continuing to focus on gas carriers and more specifically LNG units, according to Allied Shipbroking. In its latest weekly report, the Greek-based broker said that it sees a flow of orders being made on behalf of the major Qatar LNG Project that is in the works. “It seems that the
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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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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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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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