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The Baltic Exchange’s dry bulk freight index, which monitors rates for ships carrying dry bulk commodities, advanced for a fifth session on Thursday, rising about 1.3% to its highest since December 2023 at 3,034 points, amid higher demand across all vessel segments. The capesize index, which typically transports 150,000-ton cargoes including iron ore and coal, ...
https://www.hellenicshippingnews.com/baltic-dry-index-at-near-2-1-2-year-high/
https://www.hellenicshippingnews.com/baltic-dry-index-at-near-2-1-2-year-high/“In April 2026, coal shipments to Japan, South Korea and the EU jumped 27% y/y as these countries seek alternative energy supplies to gas to meet their electricity demand. The closure of the Strait of Hormuz has disrupted LNG shipments out of the Persian Gulf and has contributed to an 8% y/y drop in global ...
https://www.hellenicshippingnews.com/tight-gas-supply-drives-27-jump-in-coal-shipments-to-japan-korea-and-the-eu/The Hormuz crisis has broken the tanker market’s age depreciation curve entirely, with five-year-old VLCCs now trading above the price of a brand new vessel ordered from a Korean shipyard. According to Signal Ocean’s latest Tanker Market Monitor, the inversion of normal asset pricing logic is now visible across all major crude tanker segments. A …
US-listed regasification player Excelerate Energy has secured interim employment for its newest floating storage and regasification unit after delays to Iraq’s planned LNG import project pushed back the vessel’s long-term deployment. The New York-listed company said it has signed a definitive nine-month charter agreement with Jordan’s National Electric Power Company (NEPCO) to deploy the newbuild …
https://splash247.com/excelerate-reroutes-newbuild-fsru-to-jordan-amid-iraq-delays/
https://splash247.com/excelerate-reroutes-newbuild-fsru-to-jordan-amid-iraq-delays/China’s Sinopec Clean Energy has ordered a dedicated LNG bunkering vessel at a domestic yard, joining other owners in the segment that has seen rapid growth in newbuilding activity over the past year. The Beijing-based company confirmed that Nantong CIMC Sinopacific Offshore & Engineering (CIMC SOE) will build a 12,000 cu m LNG bunker ship, …
https://splash247.com/sinopec-books-lng-bunker-newbuild/
https://splash247.com/sinopec-books-lng-bunker-newbuild/Disruption to global airline networks linked to the conflict in the Middle East is driving up crew change costs and creating mounting operational headaches for shipowners and managers, according to marine travel specialist ATPI. The company said ongoing airspace instability, flight cancellations and reduced airline capacity are reshaping global crew travel patterns, particularly on long-haul …
https://splash247.com/middle-east-conflict-airspace-crisis-hits-crew-change-budgets/
https://splash247.com/middle-east-conflict-airspace-crisis-hits-crew-change-budgets/New York-listed dry bulk owner Genco Shipping & Trading has stepped up its defence against rival Diana Shipping, urging shareholders to back its existing board as the takeover battle between the two US-listed companies intensifies ahead of next month’s annual meeting. Genco has filed definitive proxy materials with the US Securities and Exchange Commission tied …
https://splash247.com/genco-steps-up-fight-against-diana-takeover-push/
https://splash247.com/genco-steps-up-fight-against-diana-takeover-push/Solstad Offshore has signed a letter of intent with an international subsea contractor for the charter of construction support vessel (CSV) Normand Maximus.The contract is expected to begin in the first quarter of 2027 and run through the first quarter of 2029…
https://www.marinelink.com/news/solstads-normand-maximus-csv-line-twoyear-538920
https://www.marinelink.com/news/solstads-normand-maximus-csv-line-twoyear-538920German marine propulsion manufacturer SCHOTTEL has been selected to supply rudder propellers for two liquefied natural gas (LNG) bunkering vessels being built for Shanghai International Port Group in China.The vessels, each with a loading capacity of 20…
https://www.marinelink.com/news/schottel-supply-propellers-chinese-lng-538922
https://www.marinelink.com/news/schottel-supply-propellers-chinese-lng-538922South Korea’s Hanwha Ocean and Canadian marine bearing manufacturer Thordon Bearings have signed a memorandum of understanding (MoU) to explore cooperation on Canada’s submarine procurement program and other naval projects.The agreement focuses on the Canadian Patrol Submarine Program…
https://www.marinelink.com/news/hanwha-ocean-partners-thordon-bearings-538923
https://www.marinelink.com/news/hanwha-ocean-partners-thordon-bearings-538923