Woodside Energy and its labor unions announced that they have reached an in-principle agreement for an enterprise labor agreement for the company’s liquified natural gas operations in Australia. Energy market analysts welcomed the news noting that the threatened strike against Woodside and Chevron was putting as much as 10 percent of the world’s LNG supply at risk. Negotiations are still ongoing with…
The state’s transportation department has waived wharfage charges for inbound humanitarian shipments at Maui’s Port of Kahului. Editor’s Note: Want to help? The American Red Cross, American Logistics Aid Network, Hawaiʻi Community Foundation and Maui Food Bank are accepting donations. Carriers and companies continue to join widespread disaster relief efforts after a wildfire ravaged the town of Lāhainā on Maui earlier this month. FedEx has delivered medicine, shelter,…
Options for cargo owners include longer intermodal routes and alternative lanes like the Suez Canal, analysts say. Shippers may need to look for alternative routes to avoid potential cargo delays as disruption threats compound in the Panama Canal, analysts told Supply Chain Dive this month. “Delays at the Panama Canal are now up to 15 days or more and likely…
The Suez Canal Economic Zone (SCZONE) announced, this morning, the arrival of the first container ship powered by green fuel in the world. As the vessel started its path from Asia, passing to Africa, through the Arab Republic of Egypt, and from there to Europe. The container ship arrived at the East Port Said port, which is ranked among the…
Vessel efficiency is once again a major talking point for ship owners and managers following the 80th meeting of the International Maritime Organization’s (IMO’s) Marine Environmental Protection Committee in July. Amidst a renewed commitment to reduce the maritime sector’s carbon emissions was an aim to review and strengthen the energy efficiency design requirements for ships, including the regulations by which…
The Baltic Exchange’s main sea freight index .BADI rose to its highest level in nearly three months on Thursday, propelled by gains in smaller panamax and supramax vessels. * The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, increased 14 points to 1,247, its highest since May 24. * The panamax…
The containership sector continues to set new records despite the overall downturn in volumes and rates which is contributing to a near-term dramatic drop in the carriers’ revenues and net income. In its latest analysis, the trade group BIMCO highlights that the industry has already hit a record level of new capacity delivered this year and is on track to…
A new warning was issued after a rash of robberies aboard bulkers underway in the Singapore Strait. The monitoring and reporting organization ReCAAP based in Singapore is reporting four incidents in the past three days with a strong increase in incidents so far in 2023. As of the beginning of August, ReCAAP warns that the number of reports equals all…
Over the Week 32, the MABUX global bunker indices showed relatively minor fluctuations, demonstrating moderate growth. The 380 HSFO index rose by 3.83 USD: from 554.65 USD/MT last week to 558.48 USD/MT. The VLSFO index added 5.44 USD (662.64 USD/MT versus 657.20 USD/MT last week). The MGO index also gained 2.86 USD (from 926.57 USD/MT last week to 929.43 USD/MT).…
The Baltic Exchange’s main sea freight index .BADI edged lower on Thursday as a decline in capesize rates overshadowed advances in the panamax segment. * The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, ticked down by 7 points, or 0.6%, to 1,137. * The capesize index .BACI fell 78 points,…