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Baltic index falls for 5th consecutive session

In fact, the Baltic Exchange’s main sea freight index, which tracks rates for capesize, panamax and supramax vessels that carry dry bulk commodities, dropped 23 points, or 1.5%, to 1,528 points, Reuters reports. Notably, the index fell for a fifth straight session on Tuesday- being weighed down by softer demand for capesize vessels. In particular, the capesize index fell 75 points, or 2.3%, to 3,167 points.

American Club announces buoyant annual market review

The American Club recently made market presentations to its Members, brokers and other friends and supporters in London and Athens. Its gathering in London on December 3 was hosted at Trinity House, while its reception in Athens on December 5 took place at the Yacht Club of Greece in Piraeus.

ExxonMobil found not guilty for misleading investors charges

The New York State Supreme Court officially announced that ExxonMobil is now clear of the Office Attorney General’s fraud charges in misleading investors about the accounting for the cost of the future climate change regulation. In light of the situation, ExxonMobil issued its response to the Court’s verdict.

Climate change heavily impacts ocean economy

Climate change is decreasing the productivity of marine fisheries on a global scale, with some regions experiencing large gains in productivity and others experiencing large losses; Thus, the reports states that climate change will serious impact ocean and coral reef tourism. 

Drewry releases low-sulphur bunker index tracker

Drewry officially announced the launch for its first low-sulphur bunker index tracker. Keeping in mind the IMO 2020 low-sulphur regulation, the maritime consultancy along with its index aims to bring a remarkable and greater transparency to fuel costs. 

Ship operating costs mark an increase in repair and maintenance

Based on Drewry’s latest Ship Operating Costs Annual Review and Forecast 2019/20 report, it is highlighted that the underlying vessel operating cost inflation moderately increased in 2019 on higher repair and maintenance and insurance spend, with the future costs expected to go on the same pace in 2020.

FEPORT: Threat on fair level playing in maritime logistics chain

FEPORT has warned regulators about a serious threat on fair level playing field within the maritime logistics chain, noting that the regulators’ decision to opt for the status quo and to reject necessary clarifications of texts can be detrimental to the level playing field within the maritime logistics chains.

Japan and South Korea to talk about trade war

Japan and South Korea and have reached an agreement to discuss their current trade war in December, with a preparatory meeting due to be held in Vienna in the week to come. In a statement, South Korea’s Ministry of Trade, Industry and Energy highlighted that “During the December meeting, the two countries plan to exchange opinions on various domestic and external situations related to export control.”

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