Product tankers and more specifically, MRs are to keep benefitting from increasing demand from Australia. In its latest weekly report, shipbroker Gibson said that “in recent years, Australia’s refining sector has undergone a profound structural shift. Refinery...

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Capesize The Capesize lifted $2,401 for its time charter average on Tuesday, but failed to keep up the uprising trend throughout the week. It closed at $15,867, which is still an improvement week-on-week. The Atlantic basin cooled off in the middle of the week with...

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South Korea’s HD Hyundai, the world’s largest shipbuilding group, said Friday it is forming the industry’s first alliance for carbon neutrality along with Daewoo Shipbuilding & Marine Engineering, Samsung Heavy Industries, the American Bureau of Shipping and the...

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European shipowners today welcome the EU’s proposed Net-Zero Industry Act. The Act can be step-change in efforts to enhance Europe’s security and to support the energy transition of European industry. However, the new Act must properly recognise the strategic role of...

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The International Maritime Organization (IMO) has a historic opportunity in the next three months to put the global shipping industry on an equitable, 1.5°C-aligned decarbonisation pathway. Governments must use the upcoming meeting of the Intersessional Working Group...

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The Baltic Exchange’s main sea freight index dipped on Friday on weaker demand for capesize and panamax vessels, although gained for a fourth consecutive week. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 25...

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