Scrapping rates continue to rise on the Indian subcontinent, with boxships leading the way topping $600 per ldt. Meanwhile, more than 500 bulkers were anchored outside key Chinese grain, coal and other bulk commodities terminals, driving up rates in the sub-capesize segment

High steel plate prices on the Indian subcontinent have driven ship recycling rates to their highest level in more than a decade, with boxships gaining premiums nearly double in value than at this time last year. Dry Bulk FFA volumes have also hit their own respective highs, while the latest box volume data shows that the strong demand sentiment was continued through May

Strong demand sentiment was sustained through May with Far East exports continuing to drive numbers. Year-to-date traffic is up nearly 14% on 2020, and perhaps more significantly up nearly 6% on 2019, pre-pandemic.

Vessel queues into Yantian may have reduced over the past week at the port’s main anchorage but are still significant, while ships looking to avoid the disruption continue to build up at neighbouring facilities. Elsewhere, new figures show that global box demand eased through April, yet shippers are warned to expect equipment shortages and delays to prolong through to 2022

Landmark court ruling sees Anglo-Dutch energy Shell major faced with prospect of cutting carbon emissions by some 45% by 2030, as a surge in VLCC orders puts newbuilding tanker activity nearly 50% above this time last year

Lloyd’s List’s analysis of shipping’s sustainability and ESG reports shows decarbonisation but an alarming lack of clarity from owners on meeting future emission targets; how the lifting of Iranian sanctions will do little to lift the burden of compliance risk; uncertainty surrounding a potential recovery in product tanker rates