Economy

The Brewing Storms in the Bunker Market Seasoned bunker industry expert, Robin Meech, has forecasted ominous clouds over the Mediterranean market. Recent industry transformations and heightened competition, particularly from Egypt, are likely to threaten the tight-knit equilibrium of the Mediterranean marine fuel supply. Meech, serving at the helm of Marine and Energy Consulting Ltd, anticipates […]

The French shipping giant, CMA CGM, heralds an optimistic future for container freight demand starting next year. However, the company anticipates steady profits for the rest of this year, pinned down by a fragile economy and a downward trend in freight rates from all-time highs. These predictions were made public on Friday, painting a hopeful

China’s Roadmap for Economic Stabilization In the face of the recent surges in real estate stock prices seen across Hong Kong and Shanghai, dry bulk owners anticipating significant stimulus from the latest Politburo conference in Beijing might feel underwhelmed by the scope of proposed economic actions. China’s governing cadre made obligations on Monday to heighten

Weekly Highs of Bunker Fuel Prices In a significant turn of events, most ports worldwide witnessed a hike in bunker fuel prices last Friday. The global average price of Very Low Sulphur Fuel Oil (VLSFO) reached a peak unseen since the previous week. This surge in prices reflected the robust health of the bunker fuel

As the tumultuous week in oil trading comes to a close, it leaves behind an unmistakably upward trail. Despite a tumultuous week, Friday witnessed the energy commodity recording its fourth week of consecutive gains, fueled by a nearly 2 percent daily growth due to the ongoing supply crunch and intensifying Russia-Ukraine hostilities.  An Upward Trajectory

In the heart of South Korea, a corporate rebirth is in the cards with the commencement of the bidding process for privatizing HMM. The prime stakeholders, government-owned banks, express that they aspire to ensure the handover to a powerful South Korean conglomerate capable of fostering the ongoing renovation of the company. Earlier in the year,

A Surprising Downward Trend in Bunker Fuel Market Monday witnessed a surprising pattern – the global prices of Very Low Sulfur Fuel Oil (VLSFO), an essential in ships and bunkers, took a downward plunge. This was the first drop in prices observed in four back-to-back sessions. Ship & Bunker’s G20-VLSFO Index, monitoring prices across twenty

Paving the Path of a Prosperous Future Offshore Energies UK (OEUK) recently unrolled a comprehensive strategy – “Harnessing the Potential” – outlining how the offshore energy supply chain can contribute not just to job growth, but also economic advancement and innovation across the United Kingdom. Developed by OEUK, in association with Robert Gordon’s University, this

Oil Traders’ Optimism and The Mirage Oil traders displayed unusual optimism on Wednesday, thereby further bolstering the upward trend of the oil commodity. They hang their hopes on the expected modest rise of inflation in the U.S. for June. They believe that this could potentially convince the Federal Reserve to rein in its plans for

Jinjiang Shipping, the maritime division of the Shanghai International Port Group (SIPG), has unveiled its ambitious plan for going public on the Shanghai Stock Exchange. The move is seen as a significant stride in the carrier’s expansion within the intra-Asia maritime sphere. Preparations for a Significant Public Offering Jinjiang Shipping revealed its plans to float