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.
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.
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.
Gard alerts on the risk of briber, corruption, money laundering and financing of terrorism, highlighting the importance of using efficient systems to detect, prevent and deter crime, mostly focusing on financial crime.
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 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.
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 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.
The Competition and Consumer Commission of Singapore (CCCS) expressed concerns over the proposed merger between two South Korean shipbuilding giants, DSME and KSOE, part of Hyundai Heavy, noting that this could remove competition between two main suppliers of LNG carriers to the detriment of customers in Singapore.
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.”
Philippines might not be ready for IMO 202011/12/2019
Yamal LNG completes delivery of all Arc7 ice-class tankers11/12/2019
Modifications for wind-powered North Sea platforms11/12/2019
New partnership for the exploration of a global offshore oil and gas program11/12/2019
China's imports on four crucial commodities show growth11/12/2019
NOAA alerts the risks of the Arctic warming11/12/2019
IMO Member State Audit Scheme: Guidance on communicating information adopted11/12/2019
Baltic index falls for 5th consecutive session11/12/2019
NAPA and key industry players to improve passenger ship safety11/12/2019
American Club announces buoyant annual market review11/12/2019