KYIV, Jan 10 (Reuters) – Ukraine exported 4.8 million metric tons of food via its Black Sea corridor in December, surpassing the maximum monthly volume exported under a previous U.N.-brokered grain deal, brokers said…
https://gcaptain.com/ukraines-exports-via-black-sea-corridor-tops-u-n-brokered-deal-at-its-peak/
By Mike Wackett (The Loadstar) – The Red Sea crisis, driving extended voyage times around Africa, is creating simulated cargo demand and masking the growing imbalance of supply versus demand in…
https://gcaptain.com/red-sea-reroutings-mask-container-shippings-capacity-problem/
Maersk has announced plans to modify one of its services through the Panama Canal by implementing a so-called “land bridge” across Panama amid transit restrictions caused by the ongoing water…
https://gcaptain.com/maersk-to-implement-land-bridge-to-bypass-drought-hit-panama-canal/
(Bloomberg) — A surge in freight rates is prompting crude buyers in Asia to shift more purchases to Middle Eastern oil, aiding spot market prices. The jump in shipping costs,…
https://gcaptain.com/surge-in-freight-reverberates-through-the-global-oil-market/
The U.S. Navy and the U.K. Royal Navy have shot down a barrage of Houthi missile and drone attacks launched towards international shipping lanes in the Red Sea by Houthis this morning,
Following the Houthi missile onslaught, U.S. Central Command released the following statement:
HMS DIAMOND, along with US warships, has repelled the largest attack by the Iranian-backed Houthis in the Red Sea to date.
Destroying multiple attack drones with her guns and sea viper missiles. pic.twitter.com/kFjFKj6...
https://www.marinelog.com/legal/shipping/navies-swat-down-houthi-missile-onslaught/
The global containership fleet is set to exceed the 30-million TEU mark for the first time in history in 2024, as a wave of new containerships hit the water, according…
https://gcaptain.com/record-wave-of-new-containerships-in-2024/
OPEC+ will have to maintain production cuts for this year as new supply continues to reach the market from countries such as the US, Guyana, Venezuela and Brazil, top commodities trader Vitol’s head of Asia Mike Muller told a webinar Jan. 10. Even with a “healthy kick” in demand estimated to grow...
OPEC+ crude production rose 130,000 b/d month on month in December to 42.73 million b/d, driven by increases in Iraq, as well as the group’s biggest African producers, the latest Platts survey by S&P Global Commodity Insights found. The higher output came despite the oil bloc’s stated efforts to...
Major liner companies have maintained their push on European container freight rates amid ongoing attacks on shipping through the Bab al-Mandab Strait by Yemen-based Houthi rebels, lifting rates to 15-month highs. Diversions away from the Suez Canal to the Cape of Good Hope route are causing...
The Asian high sulfur fuel oil market could be sluggish in 2024 as more-than-adequate supplies and a steady decline in utility demand are expected to offset incremental consumption by new scrubber-installed ships coming out of yards, trade sources said. Asia’s supply of 180 CST HSFO is set to rise...