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Shipping group Maersk will take steps to resume navigation through the Red Sea via the Suez Canal as soon as conditions allow, CEO Vincent Clerc said on Tuesday.The Suez Canal Authority said in a statement that Maersk container ships will resume transit via the canal on a partial basis from the begi
https://www.marinelink.com/news/maersk-resume-red-sea-route-532878
https://www.marinelink.com/news/maersk-resume-red-sea-route-532878Oil prices fell over 2% on Tuesday after Ukraine hinted that an intense diplomatic push by the U.S. administration to end Russia's war against it could be yielding fruit.An end to the war in Ukraine could pave the way for the unwinding of Western sanctions against Moscow's energy trade…
https://www.marinelink.com/news/oil-prices-fall-ukraine-signals-support-532879
https://www.marinelink.com/news/oil-prices-fall-ukraine-signals-support-532879Thousands of U.K. jobs and billions in future tax revenue are at risk unless the government reforms the Energy Profits Levy (EPL), industry group Offshore Energies UK (OEUK) said ahead of the Autumn Statement.OEUK said statistical modelling…
https://www.marinelink.com/news/oeuk-warns-major-job-losses-without-532892
https://www.marinelink.com/news/oeuk-warns-major-job-losses-without-532892Fincantieri and the U.S. Navy have reached an agreement to redefine the future of the Constellation-class frigate program, ensuring work continues on the first two ships while cancelling four later units as part of a wider fleet review.The shift…
https://www.marinelink.com/news/us-navy-cancels-four-constellation-532895
https://www.marinelink.com/news/us-navy-cancels-four-constellation-532895Windcat, part of CMB.TECH, has signed a contract with Damen Shipyards to build a new Multi-Purpose Accommodation Support Vessel (MP-ASV), with options for five additional units.To be known as the Innovation Series, the new class of offshore support vessels will combine a large open deck…
https://www.marinelink.com/news/windcat-orders-nextgen-multipurpose-532897
https://www.marinelink.com/news/windcat-orders-nextgen-multipurpose-532897Chinese purchases of American soybeans are “right on schedule”, U.S. Treasury Secretary Scott Bessent said on Tuesday, citing an agreement for Beijing to buy 87.5 million metric tons of the U.S. product over the next three and a half years. The U.S. and China will always be natural rivals, Bessent said in an interview with ...
https://www.hellenicshippingnews.com/chinese-right-on-schedule-for-us-soybean-purchases-bessent-tells-cnbc/Iron ore futures rose on Tuesday as proposed cuts to Chinese port fees are expected to discourage long-term stockpiling. The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) TIO1! gained 0.51% to 794 yuan($111.90) a metric ton. The benchmark December iron ore (SZZFZ5) on the Singapore Exchange was 0.59% higher at $105.65 ...
https://www.hellenicshippingnews.com/iron-ore-rises-on-chinas-proposal-to-cut-port-fees/
https://www.hellenicshippingnews.com/iron-ore-rises-on-chinas-proposal-to-cut-port-fees/“We estimate that coal shipments to advanced economies will fall 2% y/y in 2025, reaching a 23-year low. This will be the third consecutive annual drop although the pace of decline has slowed compared to previous years. The contraction is primarily driven by weaker coking coal demand due to reduced steel production,” says Filipe Gouveia, Shipping Analysis ...
https://www.hellenicshippingnews.com/coal-shipments-to-advanced-economies-expected-to-fall-2-to-23-year-low/The Baltic Exchange’s dry bulk sea freight index, which monitors rates for vessels moving dry bulk commodities, rose for a ninth consecutive session on Tuesday to hit a near two-year high, driven by stronger capesize and panamax vessel rates. The main index, which factors in rates for capesize, panamax and supramax shipping vessels, rose by ...
https://www.hellenicshippingnews.com/baltic-index-up-for-ninth-consecutive-session/
https://www.hellenicshippingnews.com/baltic-index-up-for-ninth-consecutive-session/Demand for dry bulk carriers, both newbuildings and second hand, has remained elevated over the past week. In its latest weekly report, shipbroker Banchero Costa said that “in the bulk sector, COSCO Shipping placed an order of 4 x 210,000 dwt newcastlemax vessels to Dalian Shipbuilding. No prices were disclosed, and deliveries Q1 2028 – ...
https://www.hellenicshippingnews.com/dry-bulkers-still-in-high-demand/
https://www.hellenicshippingnews.com/dry-bulkers-still-in-high-demand/