Tag: Longterm
GCMD and NYK Line team up to address concerns of long-term, continuous biofuels use on vessel operations
The Global Centre for Maritime Decarbonisation (GCMD) has teamed up with NYK Line to launch Project LOTUS (long-term impact of continuous use of biofuels on vessel operations). This six-month project will trial the continuous use of a biofuels blend comprising of 24% Fatty Acid Methyl Esters (FAME) and very low sulphur fuel oil (VLSFO) onboard…
Fratelli Cosulich Group orders its first methanol dual-fuelled bunker tanker backed by a long-term time-charter to TFG Marine
Fratelli Cosulich Group is proud to announce that on December 15, the Company placed an order for its first methanol dual-fuelled chemical bunker tanker. The 7,990 dwt IMO Type II chemical vessel will be built at Taizhou Maple Leaf Shipbuilding Co., Ltd in China. With a capacity of over 8,000 m3, its cargo tanks will…
Odfjell SE is expanding its fleet with six newbuildings through a combination of long-term time charter and pool agreements
This increases the total to twelve 25-40.000 dwt stainless steel vessels to be delivered on long-term time charters and pool agreements between 2024 and 2027. The agreements represent a continuation of Odfjell’s long-term relationships with Japanese shipowners and shipyards and include six vessels. The series of newbuildings will be built at multiple shipyards in Japan…
Xeneta: A turning point for the ocean freight industry? Data reveals first rise in long-term ocean freight rates in a year
After a full year of seemingly freefalling ocean freight rates, the latest market data from Oslo’s Xeneta suggests the industry may finally have reached a turning point. According to the Xeneta Shipping Index (XSI®), which tracks real-time rates developments on a month-to-month basis, September saw an increase of 0.2% in valid, global long-term contracted rates.…
Xeneta: Long-term ocean freight rates plunge by more than 60% in year of decline, but changing fortunes appear imminent
Long-term ocean freight rates slid once again in August, marking the 12th consecutive month of declines for beleaguered carriers. According to the latest real-time data from the Xeneta Shipping Index (XSI®), contracted rates fell 7.8% in August, meaning prices have now dropped 62.7% since this time last year. The world’s busiest routes – exports from…
AET delivers LNG dual-fuel VLCC, Eagle Vellore on long-term charter to Shell
AET, one of the leading owners and operators of maritime transportation assets and specialised services, has delivered its newest vessel, a Very Large Crude Carrier (VLCC) powered by dual-fuel liquefied natural gas (LNG) engines, on long-term charter to Shell Tankers (Singapore) Private Limited. It is the first of three, state-of-the-art crude tankers to be delivered…
Long-term ocean freight rates hit two-year low just as record new levels of ships enter the market and overcapacity adds further pressure
Global long-term shipping rates sank to a two-year low in July, with the latest data from Xeneta’s Shipping Index (XSI®) showing a fall of 9.5% since June, adding to a deep collapse that started last year. Long-term valid contract rates have now lost 57.8% of their value since the same period in 2022. Xeneta’s real-time…
