World

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BRIDGING THE SHIP-TO-SHORE GAP WITH SOFTWARE

22 OCT 2022 Bridging the gap between ship and shore requires investment and bigger and better software solutions, says maritime software provider Dualog. The industry is more so than ever being faced with the challenge of bringing the ship and shore closer together, and shipping companies are looking at investing …

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SHIPOWNERS EXPECT CRUDE TANKER RATES TO STAY STRONG DESPITE RUSSIA TURMOIL

20 OCT 2022 By Jonathan Saul Prospects for the crude oil tanker market are expected to stay strong for at least the next year helped by low ship ordering, despite the loss of some trade from Russia due to Western sanctions, leading ship operators say. Russia has increased exports to …

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EU’S SANCTIONS AGAINST RUSSIA RISK ENSNARING MORE OIL TANKERS

18 OCT, 2022 By Alberto Nardelli, Christopher Condon and Alaric Nightingale (Bloomberg) — The European Union’s latest sanctions on Russian petroleum could end up depriving a swath of the world’s tanker fleet of industry standard insurance, a move that threatens to undermine US efforts to avert an oil supply shock. The …

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RUSSIA CUTS GASOLINE EXPORTS

16 OCT 2022 Russia has cut gasoline exports via its ports and border crossings in September by 14% month-on-month to 256,204 tonnes amid refinery maintenance and weak demand in Europe, data from industry sources and Reuters calculations showed. Gasoline is in surplus in Europe because stocks are building as refineries …

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BAD WEEK FOR THE BALTIC DRY INDEX

15 OCT 2022 The Baltic Exchange’s dry bulk sea freight index edged up on Friday to snap a six-session losing streak, but posted its worst week since late August on sombre demand for all its vessel segments. * The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 20 …

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CONTAINERSHIP REPORTEDLY SINKS IN RED SEA AFTER FIRE

14 OCT 2022 Multiple news sites are reporting that the Panamanian-flagged containership has sunk in the Red Sea nearly a week after a fire broke out in a cargo hold. The fire on board the TSS Pearl was first reported by the Saudi Press Agency last Friday, October 7, as the ship was located …

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FLOATING OFFSHORE WIND PIPELINE SEES EXPLOSIVE GROWTH

13 OCT 2022 The global pipeline of floating offshore wind projects has more than doubled in terms of capacity in the past year with the UK leading the charge, according to a new report by RenewableUK. According to the report, the number of projects in the global pipeline, spanning from those in early planning …

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IMF LOWERS OUTLOOK FOR GLOBAL ECONOMY

11 OCT 2022 The International Monetary Fund has lowered its outlook for the global economy amid high inflation and downside risks on multiple fronts. According to the IMF’s World Economic Outlook report, global economic activity is experiencing a broad-based and sharper-than-expected slowdown as inflation rages at levels not seen in several decades. …

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THE OUTLAW OCEAN EPISODE 3: SLAVERY IS NOT GONE – IT’S AT SEA

09 OCT 2022  While forced labor exists throughout the world, one place where it’s especially pervasive is the South China Sea, and especially in the Thai fishing fleet. Partly this is because in a typical year, this country’s fishing industry is short about fifty thousand mariners, according to the UN …

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