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Prices of iron ore futures rebounded on Wednesday to the highest level in more than six weeks, aided by renewed hopes of improved steel demand in top consumer China and the prospect of lower supply after a major miner lowered its annual shipment outlook. The most-traded September iron ore contract on China’s Dalian Commodity Exchange ...
https://www.hellenicshippingnews.com/iron-ore-rebounds-to-six-week-high-on-renewed-china-demand-hopes-lower-shipments/The Baltic Exchange’s dry bulk sea freight index, tracking rates for ships carrying dry bulk commodities, declined for a third consecutive session on Wednesday, weighed down by weaker rates for the capesize vessel segment. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell by 30 points, or 1.7%, to ...
https://www.hellenicshippingnews.com/baltic-index-extends-losses-on-falling-capesize-rates/
https://www.hellenicshippingnews.com/baltic-index-extends-losses-on-falling-capesize-rates/Containerships travelling between Asia and the Mediterranean emitted 63% more emissions in the first quarter than in Q4 last year thanks to the ongoing Red Sea shipping crisis, according to new data from Xeneta, a freight rate platform. Splash has been reporting regularly on the increased emissions from the huge diversions shipping has been making …
The case to cash in and sell secondhand tonnage leads the April issue of Splash Extra, published today. Both newbuild and secondhand vessel prices are exceptionally high (see chart below) at present leading many of the world’s top shipping analysts to advise that owners ought to start looking at sell-off plans. “From a pure asset …
https://splash247.com/why-owners-should-look-to-sell-ships-now/
https://splash247.com/why-owners-should-look-to-sell-ships-now/Liner giant Mediterranean Shipping Co (MSC) has moved to take over Gram Car Carriers (GCC) in a potential deal that values the world’s third-largest car carrier tonnage provider at about NOK7.6bn ($700m). The offer of NOK263.69 per share in cash has been made via MSC subsidiary Shipping Agencies Services (SAS) and represents a premium of …
https://splash247.com/msc-launches-700m-takeover-bid-for-gram-car-carriers/
https://splash247.com/msc-launches-700m-takeover-bid-for-gram-car-carriers/Taiwanese bulker owner Franbo Lines has ordered its first ships in China in a deal with Jiangsu Haitong Offshore Engineering Equipment. The publicly-listed company has booked four ultramaxes for an undisclosed sum and early delivery next year. Franbo Lines said it expects the first 63,500 dwt ship for delivery in May 2025 with the remaining …
https://splash247.com/franbo-lines-signs-for-ultramax-newbuilds-in-china/
https://splash247.com/franbo-lines-signs-for-ultramax-newbuilds-in-china/Swedish bank SEB has set a net zero-aligned 2030 target for the shipping sector in line with its commitment to the Net Zero Banking Alliance. The Net Zero Banking Alliance is a group of global banks committed to financing climate action to transition the real economy to net zero greenhouse gas emissions by 2050 and …
https://splash247.com/swedens-seb-adds-shipping-to-2030-net-zero-target/
https://splash247.com/swedens-seb-adds-shipping-to-2030-net-zero-target/Norwegian car carrier operator Wallenius Wilhelmsen has signed a 20-year lease agreement with the Georgia Ports Authority (GPA) for Brunswick Port, with options of up to 30 years. Wallenius Wilhelmsen’s will expand and enhance Brunswick Port’s existing Colonel’s Island Terminal and auto vehicle processing centre. Another addition will be the new equipment processing centre that …
https://splash247.com/wallenius-wilhelmsen-pens-20-year-lease-for-brunswick-port/
https://splash247.com/wallenius-wilhelmsen-pens-20-year-lease-for-brunswick-port/Container terminal operator DP World and Malaysia’s Sabah Ports have entered a partnership to manage the Sapangar Bay Container Port and significantly increase its handling capacity. The Sapangar Bay port is one of the main regional trade hubs for the Brunei Darussalam-Indonesia-Malaysia-Philippines East growth area of the Association of Southeast Asian Nations. The partnership will …
https://splash247.com/malaysian-container-terminal-to-get-handling-capacity-boost/
https://splash247.com/malaysian-container-terminal-to-get-handling-capacity-boost/Greece’s Laskaridis Maritime has stepped up its kamsarmax newbuild series in China with six ships spread across two shipyards. The Athens-based dry bulk shipping arm of the Alimia Group has returned to Hengli Shipbuilding for four more 82,000 dwt vessels and signed up for two additional units at Penglai Zhongbai Jinglu. While brokers are quoting …
https://splash247.com/laskaridis-maritime-boosts-kamsarmax-orders/
https://splash247.com/laskaridis-maritime-boosts-kamsarmax-orders/