Hellenic Shipping News Worldwide, Online Daily Newspaper on Hellenic and International Shipping
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Capesize The week began with renewed optimism, led by a firmer Pacific market as all three major miners returned to the market and operator cargo volumes appeared healthy. Early strength in the Pacific, supported by fixtures above $10.00 on C5, set a constructive tone, while the Atlantic also edged higher despite a noticeable bid-offer gap....
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The improvement in one-year time charter earnings has reshaped the VLCC secondhand market. The recent strong cash generation and improved freight visibility have pushed asset values sharply higher, not only for modern units but also for overaged units. The rising 1-year time charter (TC) rates are now closely tracking the upward trend in asset prices....
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The West African Suezmax segment has seen freight rates reach their highest levels since November 2022, with market sources pointing to support from a historically firm VLCC market, tight tonnage supply, strong demand levels in the Americas and weather-induced delays in the Atlantic and Mediterranean. Platts, part of S&P Global Energy, assessed freight on the...
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Clean LR2 Freight levels on MEG LR2’s climbed consistently this week. The TC1 75kt MEG/Japan rate went from WS168 to WS197 with the corresponding TCE jumping 24% to just under $45,800/day on Baltic description round trip. A voyage west on TC20 90kt MEG/UK-Continent also rose up this week to the $4.7 million mark (+$681,000). The...
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Japanese carriers operating in the Middle East have shifted their operations from “high alert” to a total standstill. On Sunday, Japan’s largest shipping companies announced a formal suspension of operations in the Persian Gulf, citing the rapid military escalation following the death of Iran’s Supreme Leader. Nippon Yusen K.K (TYO:9101), the country’s top shipper, confirmed...
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The US and Israel carried out a joint military operation today, 28 February, targeting sites in Iran. Iran has responded with retaliatory military action. Below is immediate insight from Xeneta Chief Analyst Peter Sand on implications for global ocean container shipping supply chains, with particular focus on the impact on Red Sea. Peter Sand, Xeneta...
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Rates for shipping containers from east Asia and China to the US edged slightly lower this week as tighter capacity from blanked sailings slowed the rate of decrease. Rates from supply chain advisors Drewry were down by 1% from Shanghai to Los Angeles and essentially flat from Shanghai to New York, as shown in the...
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Drewry’s Intra-Asia Container Index (IACI) continued its downward trajectory for the ninth week in a row, losing $3 in the fourth week of February to reach $552 per 40ft container. Drewry’s Intra-Asia Container Index (IACI) continued its downward trajectory for the ninth week in a row, losing $3 in the fourth week of February to...
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Crude re-routing signals rarely appear in headlines first – they show up in arbitrage economics. In a market shaped by geopolitics, freight volatility, and shifting refinery preferences, tracking where barrels can profitably flow reveals demand patterns before physical movements confirm them. This guide explains how we use arbitrage values to identify crude re-routing in real...
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Residual fuel oil stocks in Singapore averaged 2% lower in February than in January, according to data from Enterprise Singapore. Changes in monthly average Singapore stocks from January to February: Residual fuel oil stocks down 540,000 bbls to 23.01 million bbls Middle distillate stocks up 70,000 bbls to 8.47 million bbls Fuel oil inventories in...
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As the International Maritime Organization (IMO) prepares to open discussions at the 12th session of its Sub-Committee on Human Element, Training and Watchkeeping (HTW 12) on fatigue and hours of work and rest, MarinePALS CEO Captain Pradeep Chawla is urging regulators to face a simple reality: ships schedules are busier , administrative burden due to...
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International Seaways, Inc., one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products, today reported results for the fourth quarter and full year 2025. HIGHLIGHTS & RECENT DEVELOPMENTS Annual and Quarterly Results: Net income for the fourth quarter of 2025 was $128 million, or $2.56 per diluted share....
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The board of directors of the Cyprus Shipping Chamber on Friday met with Shipping Deputy Minister Marina Hadjimanolis during a working lunch, in order to discuss the strategic direction of the country’s maritime sector. According to an announcement by the chamber, the meeting provided a platform for the maritime industry leadership to engage in high-level...
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Nigeria’s foremost maritime training institution, the Maritime Academy of Nigeria, recently signed an agreement with the NLNG Shipping and Marine Services Limited (NSML) for sea-time training for cadets in the Academy. In this report, Tola Adenubi looks at what this means to the Academy and Nigerian shipping at large. For years, the Maritime Academy of...
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Last Friday, the US Supreme Court ruled that President Trump did not have authority to create and impose last year’s import tariffs as he did, effectively invalidating these tariffs. The American Government quickly imposed an alternative blanket 10pct tariff to all imports instead using a different legal statute. Chinese exports grew in 2025 despite a...
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The Palau Ship Registry (PSR) notes reports issued by Oman’s Maritime Security Centre regarding the incident involving MT Skylight in the Strait of Hormuz, approximately five nautical miles north of Khasab Port. According to publicly available information, 20 crew members were on board the vessel at the time of the incident, and four seafarers sustained...
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The US Department of Transportation’s Maritime Administration on Saturday called on US-flagged commercial vessels to keep clear of the Strait of Hormuz and nearby waters amid the start of significant military escalation in the region. In a maritime alert issued, the department said military operations began on Feb. 28 in the Strait of Hormuz, the...
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Amid heightened tensions in the Middle East following U.S. and Israeli airstrikes on Iran, a very large crude carrier (VLCC) chartered by global energy giant Shell is reportedly passing through the Strait of Hormuz at maximum speed en route to South Korea, The Wall Street Journal, WSJ, reported on the 28th. Iran has not yet...
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Shipbid concluded the bidding of the MPSV (Multi-Purpose Support Vessel) BOURBON EVOLUTION 805 on February 27, setting a new bidding price record for the Bourbon series vessel. The bidding opened at USD 35 million. Following 156 rounds of intense bidding, the vessel sold for USD 46.50 million, attracting viewer from over 50 countries. Source: Shipbid
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A Russian-flagged oil tanker which was seized in the north Atlantic has started its journey to the United States after being moored in Scottish waters, BBC Scotland News has learned. American authorities took control of the Marinera on 7 January, south of Iceland, before escorting it to Scotland’s Moray coast. It has been there since...