Following five consecutive monthly increases, the overall Stifel Logistics Confidence Index fell 1 index point to 51.5 in April. Despite the decline, the index remained above the significant 50 mark, denoting expansion, for the third consecutive month. However, a look at the present situation reveals that both air and sea freight volumes are below those expected relative to the time of year. Although the index for sea freight remained virtually flat at 47.4 in April (down 0.1 points from March), it still indicates a decline in volumes. Meanwhile, the index for current air freight volumes fell 1.2 points to 42.0 for the month, indicating an even greater decline relative to the volumes expected for the time of year. In terms of year-on-year comparisons, the sea freight index was 1.4 points higher in April 2013 compared with April 2012. In contrast, the index for air freight was 2.7 points lower compared with the same month last year. Since the Index’s inception over a year ago, the outlook for the next six months has remained very optimistic with respondents consistently anticipating positive volume growth. Although this trend continued in April, with the index at 58.4, it fell 1.3 points which suggests respondents are perhaps becoming less confident in a market revival taking place any time soon.
On July 15, the European Commission published the proposed amendments of the "sulphur directive." Ministers of the EU member states and members of European parliament will begin debates on the directive in the autumn. The proposal is based on the decision made by the International Maritime Organization IMO in 2008 to set the more stringent limits of sulphur content of the bunker fuel and emissions. The severe consequences it will cause to the North Europe have become clear
Little change occurred in the latest monthly Stifel Logistics Confidence Index. Slipping only 0.1 points from 57 in March to 56.9 this month, the overall index did however favor improvements in the present situation increasing 1.6 points to 51.8. However, expectations for the next six months dimmed falling 1.8 points to 62 for April. The monthly airfreight data is such an example. For April, the present situation increased 0.5 points to 49 whereas expectations declined 2 points to 61.3
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell for a ninth straight session on Friday on lower vessel activity. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 30 points, or 2.43 percent, to 1,205. The Baltic's capesize index fell 37 points, or 1.58 percent, to 2,306 points.
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell for a tenth straight session on Monday as vessel rates continued to fall. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 19 points, or 1.58 percent, to 1,186. The Baltic's capesize index fell 13 points, or 0.56 percent, to 2,293 points.
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell for an 11th straight session on Tuesday, mainly driven by a heavy drop in capesize vessel rates. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 88 points, or 7.42 percent, to 1,098. The Baltic's capesize index fell 264 points, or 11.5 percent, to 2,029 points.
The Baltic Exchange main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Wednesday for a 12th straight session on weak rates for capesize vessels. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 37 points, or 3.37 percent, to 1,061. The Baltic's capesize index fell 83 points, or 4.09 percent, to 1,946 points.
CrewInspector, an online crew management software provider, recently signed up with number of crew recruitment and crew management agencies based in Ukraine to provide its crewing software for businesses in Ukrainian market. “We see that companies are looking for straight forward software solutions not requiring long set-up and integration. CrewInspector offers high quality solution at very attractive price and that’s the main reason why we are so popular among start-up and
Half of all index-linked contracts filed with the US Federal Maritime Commission reference Drewry’s Container Freight Rate Insight pricing benchmarks. Drewry Maritime Research’s container freight rate benchmarks are the index of choice in index-linked container contracts, according to the US Federal Maritime Commission (FMC). The agency also indicated that uptake of index-linked container contracts on US trades was fast growing
Rates for capesize bulk carriers on key Asian routes are set to remain in the doldrums next week, staying flat or gaining just a few cents as an oversupply of ships weighs on cargo availability, ship brokers said. But there could be brighter prospects in the coming weeks on rates for voyages from Brazil to China if chartering activity increases, brokers added. "There's no real direction to the capesize market. There's not enough cargo volume
ISS Palumbo UK, part of maritime services provider Inchcape Shipping Services (ISS), has acquired U.K. freight forwarding specialist Union Transport (Newcastle) Ltd. The merger of the Union Transport business with ISS Palumbo and its worldwide network will enhance the combination of
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, spiralled downwards to its lowest level in nearly three decades as rates for all the four vessel types continued to flounder. The overall index
International freight volumes will grow fourfold by 2050 while the average length of haul will increase by 12 percent over that time, trends that will cause a spike in global carbon emissions unless corrective action is taken. An Organisation for Economic Cooperation and Development (OECD) sector
The EU's TEN-T Program will co-fund with over €2 million the development of the sea ports of Trelleborg (Sweden) and Świnoujście (Poland), to increase their competitiveness and sustainability, as well as improve the maritime link between both countries.
After being stuck in legal limbo for six months, a tanker loaded with 1 million barrels of Kurdish crude headed east on Tuesday to leave U.S. waters after Baghdad and the Kurds reached a deal to share oil revenue. The United Kalavrvta tanker, which had been anchored in the U.S
Maersk Line, part of Denmark's A. P. Moller-Maersk, plans to increase shipping freight rates for transporting containers from ports in Asia to Northern Europe by $400 per 20-foot container (TEU) from Feb. 1, it said on Tuesday. Rates on the route, the world's busiest for container shipping
DB Schenker Logistics and Maersk Line have signed a six-year strategic agreement on reducing CO2 emissions from ocean freight. The partnership emphasizes the companies' shared commitment to sustainable growth, says a press release by DB Schenker.
Belgian dry bulk shipping group CMB on Thursday said markets would remain volatile after a disappointing 2014 in which falling commodity prices reduced stock building by clients. The group added that freight rates would come to a sustainable level once overcapacity in the shipping market
The U.S. Environmental Protection Agency (EPA) and SmartWay will host a webinar for barge carriers and other interested stakeholders to demonstrate Barge Tool, designed to help companies calculate carbon, NOx and PM emissions from barge freight movement.
The EU's TEN-T Program will back with over $16.25million the improvement of the sea connection between Dover in The UK and Calais in France. The developments include better traffic management, berth enhancements and a new rail freight connection between Calais and southern France.
To continue to operate the Services with high level of reliability, proficiency and meet expectations of the Customers, The Shipping Corporation of India Ltd., announces Rate Restoration on its Indian Subcontinent to Europe Services viz
New Zealand maritime manufacturer Coppins Para Sea Anchors has secured a multimillion-dollar contract to supply anchors to a Norwegian salvage company. The family business firm based in Motueka on the South Island has sent the first of two one-tonne sea anchors to the Norwegian
Glencore, Suncor, ENI, Vitol all booking tankers; U.S. crude oil stocks at highest ever level for time of year. Traders are shipping West African crude to the United States to store the oil until prices recover, as the global glut forces them to source any tanks available and as seaborne
Braemar Shipping Services said its ship broking division saw an improvement in its performance during the last quarter. The merger in July with smaller rival ACM Shipping also came in as shot in the arm. A strong dollar and weak oil prices are good for business, too, and freight rates
Traders are shipping West African crude to the United States to store the oil until prices recover, as the global glut forces them to source any tanks available and as seaborne cargoes are able to compete better on price with U.S. crude.