FBX Index March 2024: Market summary

Thu, 14 Mar 2024 22:00:58 +0000 The Freightos Baltic Global index was level overall in February – dipping 2% month on month to $3,351/FEU – but still nearly 2.5x higher than at the end of December 2023 as diversions away from the Red Sea and some pre-Lunar New Year...

Republic of the Marshall Islands Maintains Highest Quality Fleet

Thu, 14 Mar 2024 22:00:57 +0000 The Republic of the Marshall Islands (RMI) Registry’s active role in supporting its owners and operators has resulted in sustaining the highest quality fleet in the world. At the close of day one of CMA Shipping 2024, Rear Admiral Wayne...

Tanker Market Shows Improved Performance During February

Fri, 15 Mar 2024 22:00:59 +0000 The tanker market has had a positive month of February, OPEC said in its latest monthly report. VLCC spot rates recovered further in February on all monitored routes, with the Middle East-to-East route leading gains. On average, VLCC...

Dirty crude oil flows from OPEC+ oil producing countries to Asia

Fri, 15 Mar 2024 22:00:58 +0000 ​​​​​In the second week of March, the VLCC MEG-China market rates continued to soften, while the number of vessels in Ras Tanura showed an increase despite the significant downward trend observed earlier in the month. Within the crude...

Tanker Market Could Shift Again

Sun, 10 Mar 2024 22:00:59 +0000 The tanker market could be set for another shift, if Russia’s oil exports force buyers in China and India to look elsewhere. In its latest weekly report, shipbroker Gibson said that “with OPEC+ set to roll over existing production cuts...