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After last week’s 13-month high, capesize spot rates have dropped sharply, largely because of the news of a ban on Australian coal imports by China. Meanwhile, new research shows scrubber installations are looking increasingly like a losing bet for investors
A deal between the warring sides could take another seven weeks. But the Houthi rebels who control Safer have struck deals in the past only to back out later, and it is not clear all the Houthis would abide by an eventual deal
The industry’s $6bn investment in scrubbers was based on an assumed price spread between high-priced low-sulphur fuels and low-priced high-sulphur fuels, but refiners and traders upended that assumption by creating cheap blends
Shipping faces immense financial, technological and regulatory challenges to meet the target of cutting greenhouse gas emissions by 40% by 2030
Hapag-Lloyd acquired 17 ‘LNG-ready’ containerships when it merged with UASC. One is now being converted to use LNG, but unless costs can be controlled the remainder may continue to use traditional fuels
Joint development programme receives design in principle approval from Lloyd’s Register for ammonia-fuelled vessel
Greek port also has its eye on reviving shipbuilding activity in the region
Saudi Arabia warned the UN Security Council on Wednesday of an ‘oil spot’ about 50 km west of Safer, the decrepit tanker at risk of a catastrophic oil spill off Yemen’s Red Sea port of Ras Isa
‘It may be beneficial if the maritime industry puts more effort into reporting and finding the root causes, not only behind cyber and software incidents involving newer technologies, but also older precursor devices,’ says Frank Gonynor
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