HEADLINES SELECTED BY INTERCARGO (01/10/2024 – 20/10/2024)
Intercargo, UK Shipping Minister discuss bulk priorities in London
Industry association Intercargo and the UK’s Shipping Minister met in London to talk up the bulk industry’s importance as well as highlight the central role that fuel supply will play in its near-term future (Riviera: click here)
Intercargo concerned by RightShip inspection age change
The association said bulk carrier owners were not consulted on the decision and is urging RightShip to reconsider its timeline to allow seafarers and owners time to adapt. (Lloyd’s List: click here)
INTERCARGO urges members to join the Dry Bulk Management Standard (DryBMS) Portal
INTERCARGO is strongly urging its members (shipowners, managers and operators) to subscribe to the newly launched Dry Bulk Management Standard (DryBMS) portal. (Dry Cargo Int’l: click here)
IMO Secretary-General addresses opening of MEPC 82
Speaking at the opening of the 82nd session of the Marine Environment Protection Committee (MEPC 82) today, IMO Secretary-General Arsenio Domingues began by lamenting the continued attack on shipping in the Red Sea (Shipmanagement Int’l: click here)
New Zealand introduces new biosecurity requirements
New Zealand’s Ministry for Primary Industries (MPI) will introduce the Biosecurity Pre-Arrival Report (PAR) for all commercial vessels calling in New Zealand starting 31 October 2024, replacing the current Master’s Declaration (MD) and Biofouling and Ballast Water Declaration (BBWD). (MPI: click here)
Ship carrying forest-threatening invasive moths nabbed in US port
The US has intercepted a cargo ship that travelled from Vietnam with an invasive moth species as an unwanted passenger. (TradeWinds: click here)
Historic drought across Amazon basin stymies grain exports
A historic drought across the Amazon basin is stymying grain exports this year. (Splash 247: click here)
China’s Sept coal output rises 4.4% on safety improvements, chemical industry demand
China’s coal output rose 4.4% year-on-year in September, statistics bureau data showed on Friday, after safety inspections launched earlier in the year ended and more coal-to-chemicals capacity came back online. (Hellenic Shipping News Worldwide: click here)
Dry Bulk Trade embracing further growth
Strengthening influences have been buoying commodity import demand elements in some countries and could remain advantageous. Consequently world seaborne dry bulk trade in 2024 as a whole looks set to continue growing. (Dry Cargo Int’l: click here)
Baltic index falls for third week on weaker rates across vessels
The Baltic Exchange’s main sea freight index dipped on Friday, marking its worst week in five months as demand for all vessel segments declined. (Hellenic Shipping News Worldwide: click here)
Dry market report – Week 42
Capesize: This week began with optimism, particularly in the Pacific, which saw early strength… Panamax: A lethargic week for the Panamax market saw a brief rally in trans-Atlantic activity towards the end, but otherwise… Ultramax/Supramax: Two sides of a coin this week for the sector as the Atlantic generally saw upward momentum whilst the Asian arena lost ground… Handy: Generally, the market has seen a mixed performance this week… (Baltic Exchange: click here)
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18.10.2024 |
11.10.2024 |
WEEKLY CHANGES |
WEEKLY CHANGE % |
Baltic Dry Index |
1,576 |
1,809 |
-233.0 |
-12.9% |
BRENT ($/bbl) |
73.1 |
79.0 |
-6.0 |
-7.6% |
WTI ($/bbl) |
69.2 |
75.6 |
-6.3 |
-8.4% |
MGO ROTTERDAM ($/mt) |
648.0 |
685.0 |
-37.0 |
-5.4% |
MGO FUJAIRAH ($/mt) |
760.0 |
775.5 |
-15.5 |
-2.0% |
MGO SINGAPORE ($/mt) |
658.0 |
696.0 |
-38.0 |
-5.5% |
VLSFO ROTTERDAM ($/mt) |
547.5 |
563.0 |
-15.5 |
-2.8% |
VLSFO FUJAIRAH ($/mt) |
580.0 |
604.5 |
-24.5 |
-4.1% |
VLSFO SINGAPORE ($/mt) |
592.5 |
620.0 |
-27.5 |
-4.4% |
IFO 380 ROTTERDAM ($/mt) |
480.5 |
529.0 |
-48.5 |
-9.2% |
IFO 380 FUJAIRAH ($/mt) |
452.0 |
471.0 |
-19.0 |
-4.0% |
IFO 380 SINGAPORE ($/mt) |
476.0 |
494.5 |
-18.5 |
-3.7% |
LSMGO ROTTERDAM, MAX 0.1% SULFUR DISTILLATE ($/mt) |
648.0 |
685.0 |
-37.0 |
-5.4% |
LSMGO SINGAPORE, MAX 0.1% SULFUR DISTILLATE ($/mt) |
658.0 |
696.0 |
-38.0 |
-5.5% |
EUR-USD |
1.09 |
1.09 |
-0.01 |
-0.7% |
GBP-USD |
1.31 |
1.31 |
0.00 |
-0.1% |
USD-JPY |
149.55 |
149.14 |
+0.41 |
+0.3% |
USD-KRW |
1,370.00 |
1,349.00 |
+21.00 |
+1.6% |
Sources: KPI Bridge Oil, CNBC, Nasdaq.com, ShipandBunker.com, Exchangerates.org.uk |
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