Economy

A Dip in Ukraine’s Grain Exports  Unforeseen challenges in export logistics and the scarring effects of Russian bombardments on central export facilities led to an unfortunate downturn in Ukraine’s grain exports. The UCAB agricultural business association data confirmed a 10% dwindling to 2.1 million metric tons in September as opposed to that of August. Regrettably, […]

Breathing New Life into Ukraine’s Sea Freight Operations The establishment of an innovative corridor, open to cargo vessels transporting Ukrainian grain and iron ore from Black Sea ports, has resulted in a significant reduction in freight charges. Even better news is that these rates are predicted to dip further. According to an update from Ukraine’s

Australia has declared a $20 million aid to facilitate the much-desired revamp of Nuku’alofa Port in the Kingdom of Tonga. The Asian Development Bank previously sanctioned a $45 million grant in 2020 for the very initiative. Nevertheless, a sum total of $88 million is necessary for the project’s fulfillment. The Australian government has thus signed

Substantial Subsidies Russia is looking forward to refueling its shipping industry. In its latest financial plans for the year 2024, forecasts indicate an intention to considerably increase subsidies for domestic shipbuilders by a staggering $68 million. This rise in support funding is anticipated to assuage the impact of sanctions, revitalizing an industry that has faced

A fresh analysis of the international ship order book has unveiled astounding results. Clarksons Research’s statistics display a disproportionate distribution, where a whopping 50% of the global allocation is contracted to merely two shipping sectors – Liquified Natural Gas (LNG) and containers.  Variation in Shipping Orderbooks Expected to be highlighted in Clarksons Research’s upcoming Shipping

Digitalization: An Elixir for Reducing Bunker Bills Fascinating insights from Opsealog, an esteemed maritime data organization, suggest that offshore support vessel (OSV) companies stand to decrease their fuel expenses by a potent 12% through strategic digitalization. The French-based performance management titans recently issued a riveting white paper that emphasizes how OSV operators can revamp their

There was no escaping the bearish wave that descended upon the majority of bunkering ports last Tuesday. The latest price review revealed a significant dip in bunker fuel prices, the most notable being the global VLSFO average slipping its way down to its lowest rates in almost a week. Dissecting the Global Indices Casting an

Ukraine’s Danube Shipping Company is currently in negotiations with Romania’s Constanta Black Sea port seeking approval for ship-to-ship grain transfers. This innovative move, if validated, could potentially almost double the firm’s barge export capacity. Once authorized, this shift marks a crucial milestone in the country’s tumultuous grain export landscape. Ukraine is renowned globally as a

Chilean maritime services player Agunsa is setting its eyes on fresh business waters – the bunker sales niche in Europe and Africa. Recently, the aspiration began taking shape with Total Bunkering – the company’s local energy wing, initiating an MGO stem delivery to the drillship Ocean Blackhawk at Las Palmas, according to Ivan Ausina, executive

The Dawn of the Alternative Fuel Arena In a unique shift of events, the Middle East has started to witness a surge in inquiries relating to alternative bunker fuel in recent months. This unexpected trend was disclosed by Sean Burgin, a well-seasoned veteran in the fuel industry and the current Head of Sourcing at Glander