The last 12 months has seen values rise to near-record levels across several sectors of the shipping industry, fuelled by the post-covid shipping boom and a strong newbuild market.The report states that the newbuild market experienced continued growth, with a notable rise in orders, particularly in the Post/Panamax and Capesize sectors.
Due to market uncertainty, overall sale and purchase levels for Bulkers have fallen year on year, with a decrease of c.58% and just 77 reported this year to date, compared to 182 for the same period last year. Since the US proposed fees to Chinese-built vessels entering US ports in February, sale and purchase levels for Chinese-built Bulkers has fallen by c.
The time charter (TC) rates for Post Panamax container vessels rose by 111% year-on-year (y-o-y) in 2024, hitting 73,330 USD/Day, and has led to a huge uptick in newbuild orders and a slowdown in demolitions according to Veson Nautical’s ‘2024 End- Of-Year-Report’.The report states that the bullish market conditions for the container sector are reflected in the TC rates as well as the 76% y-o-y
CIMAC WG 7 Fuels has released a new guideline titled “Frequently Asked Questions (FAQ) - ISO 6583:2024: Methanol as a Fuel for Marine Applications – General Requirements and Specifications.”With the publication of ISO 6583:2024 in November 2024, the first standard for methanol as a marine fuel, numerous questions were expected to arise.
Lloyd’s Register’s (LR) Maritime Decarbonisation Hub has conducted risk assessment workshops which indicate that a comprehensive overhaul of seafarer training is required as the industry transitions to zero and near zero GHG emission fuels.A report has been produced as a result of the workshops by the Maritime Just Transition Task Force (MJTTF)
The Technical Cooperation Committee held its 74th session at IMO Headquarters in London from Junw 24 to 28 and made progress on the IMO Capacity-Development Strategy for providing technical support for Member States. The Committee approved a new title (IMO Capacity-Development Strategy) and structure for the document.
A Mexican energy developer is seeking U.S. permission to export gas to Mexico, turn it into liquefied natural gas (LNG) and send it to countries with U.S. free-trade agreements, its filing with the U.S. Department of Energy showed.Mexico-based Gato Negro Permitium Uno and partners including Houston-based Big River Energy plan to construct four LNG processing plants in Manzanillo on Mexico's
Western Bulk improved its trading performance (Net TC) from $15 million to $24.4 million in 2024 while restructuring the business to lower the annual G&A costs by 15 % to $22 million going forward. Excluding one-offs from restructuring and provisions, the net result was $2.6 million and Net TC $28.6 million. The net result for the entire year of 2024 ended at $-2.7 million.