On the commemoration of the National Day of the Republic of Panama celebrating 117 years as a Republic and 199 years of Independence from Spain, some festivities have been scheduled throughout the month of November. The Government of the Republic of Panama through its Ministry of Foreign Affairs and the Embassy of Panama in the…
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This year, the IMO released the results of a much-anticipated report on greenhouse gas (GHG) emissions that prove LNG is not dead. The terminology is significant. Up to this point, CO2 was GHG recognized by the body. But LNG (liquefied natural gas)-powered ships suffer a ‘methane slip’—small leaks of unburned methane gas. Late last year,…
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Demand for oil cargoes headed to India has taken a turn for the worse, as the country with the second largest population is grappling with the effects of the coronavirus. In its latest weekly report, shipbroker Banchero Costa said that “India is now the second most affected country in the world by the Covid-19 pandemic,…
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Freight rates are about to face renewed downward pressure, on the back of a new wave of lockdowns around the world, with Europe being the most obvious example. Shipbrokers anticipate a new blow on demand for shipping, which will inevitably translate to lower freight rates moving forward. In its latest weekly report, shipbroker Allied Shipbroking…
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Is Europe getting behind LNG as a marine fuel? We’re in the midst of an age of decarbonisation. Societies across the globe are throwing their weight behind green policies, seeking to capitalise on the brief pause that COVID has provided. Countries, global institutions, and corporations, under increasing pressure to decarbonise, are seeking to commit to…
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India is gearing up to become a major player in seaborne oil demand, offering a valuable boost in the tanker market. In its latest weekly report, shipbroker Gibson said that “like most nations, Indian oil demand has come under considerable pressure in 2020 as covid-19 derailed the country’s continual demand growth. Nevertheless, the longer-term prospects…
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British armed forces forcibly boarded and regained control of an oil tanker Nave Andromeda in the English Channel on Sunday evening following a suspected hijacking, according to the UK defense ministry. It sounded dramatic and the media ramped it. The essential ingredients were all in the mix – shady foreign hijackers (surely terrorists if not…
MoreShipping is being dealing with a double-edged sword lately, as it is faced with stringer environmental measures around the world, while also having to cope with a slowdown in seaborne trade, which is having an adverse effect on revenues. In fact, it is estimated that the industry’s freight rates won’t rebound for the next 12…
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We have got only one life to live. Nothing can stop a smoker quit but himself. These kind of Ads are very impactful. www.shipdiary.com…
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The captain of a Portuguese cargo ship has been arrested after colliding with a Greek warship on Tuesday. The Greek Ministry of Merchant Navy said that the Polish captain of the Maersk Launceston had been detained after being questioned by port authorities. The suspect has been accused of “shipwreck caused by negligence”. The incident took…
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