The Panama Canal Authority could double in coming years the number of containers that move through the commercial waterway that links the Pacific and the Atlantic oceans, the canal's chief told a maritime conference.The authority, which has an $8 billion investment plan, is putting in place a water conservation strategy following a severe drought that forced ships between late 2023 and early
A recent and ongoing uptick in freight rates across many sectors (especially dry, as wet rates have been performing far admirably in comparison) has resumed depriving global ship recycling markets of tonnage over the last couple of weeks, reports cash buyer GMS.“This has promptly manifested itself at the various sub-continent waterfronts this week in both India and even Pakistan that has now
Venezuela's oil exports rose 10.5% last year despite political instability and changes to the U.S. sanctions regime on the country, as partners of state oil company PDVSA took more cargoes under licenses granted by Washington.As President Nicolas Maduro gets ready to start his third term in office next week following disputed election results
The Baltic Exchange Sea Freight Index cooled its seven-day losing streak on Friday, bouncing back about 0.5%, and propelled primarily by larger sized vessels. Translation? “The ensuing performance of the Baltic Exchange Dry Index has, and should see a general increase in the supply of mid-sized (and smaller) dry (and even the occasional wet) units being offered into the ship recycling markets
U.S. corn futures climbed to a two-week high on Friday on technical buying and support from strong U.S. export sales, putting the market on pace for its strongest weekly advance in a month.Soybeans followed corn higher, although forecasts for a record-breaking Brazilian harvest limited gains, while wheat futures were mixed.
This week has seen about USD 10/LDT gained across the board in ship recycling markets, says cash buyer GMS, and Bangladesh has leapfrogged India for pole position including the purchases of two Panamax bulk carriers in the USD 470s/LDT.“Although the general feeling is that sub-continent ship recycling markets have likely bottomed out