Lloyd's List

London International Shipping Week is delighted to announce Lloyd's List as a Media Partner for #LISW25. Lloyd's List’s journey began 300 years ago with ship movement postings in Edward Lloyd’s coffee house, a meeting place for London’s rapidly growing #maritime industry. It continues that journey today with analytics, data, insights and news. Click the link to find out more: https://lnkd.in/ez3CTezR LISW looks forward to working alongside the Lloyd's List team as we make our way to #London's biggest #shipping event to date. #Networking #Innovation #MediaPartner #Event

Free to view: The Greece-flagged suezmax Sounion (IMO: 9312145), which was left burning for 49 days after Houthi attacks in the Red Sea, has arrived at Suez, where it will begin a lengthy operation to offload what is left of the 1m barrels of Iraqi crude oil it is carrying. The cargo transfer operation is expected to take another four to six weeks to complete, after which the heavily damaged tanker will be towed in ballast to an as yet undisclosed location for further assessment. It is not yet known whether the tanker is going to be declared a constructive total loss https://lnkd.in/euDKypQu

Free to listen: Regulation alone will not be sufficient to decarbonise the maritime sector; it requires more proactive engagement from industry stakeholders across the supply chain, says Arsenio Dominguez, the secretary-general of the International Maritime Organization. For several months now, industry executives have been publicly calling on the IMO to ensure the expected regulatory framework set to be agreed next year will be sufficiently robust to close the price gap between green and fossil fuels. Now, in a subtle shift of narrative, the IMO secretary-general is turning the table on the industry arguing that it’s time for everyone to play their part and take action. The IMO “will deliver, I am confident of that,” Dominguez told Lloyd's List editor in chief Richard Meade in an interview. Read the full article below ⬇️ https://lnkd.in/e74FstN7

Free to view: Spot rates for bulk commodity ships remain under pressure across the board. Incremental tonne-mile upside from the Russia/Ukraine war and Red Sea crisis is already baked into the numbers, so it’s back to old-fashioned supply and demand — and demand is lagging, with bulk commodity prices heading downward Read more below ⬇️ https://lnkd.in/enGQiCGQ

Free to view: Peak season is over, the US port strike has been suspended, and newbuildings are still flooding into the market, so spot rates should continue to slide. And yet, they haven’t, according to the Shanghai Containerized Freight Index. The SCFI jumped 6% in the week ending Friday versus the prior week, to 2,185 points, its highest level since the week of September 20. It was the first sequential gain in 11 weeks, and the largest sequential gain since the end of June. Increases were overwhelmingly weighted to Asia-Europe trades. The SCFI put the Shanghai-North Europe spot rate at $4,452 per feu, up 14% from the prior week, and the Shanghai-Mediterranean rate at $5,110 per feu, up 10.5%. The transpacific showed much slimmer gains, with the SCFI’s Shanghai-US east coast rate at $5,099 per feu, up 3% from the week before, and the Shanghai-US west coast rate at $4,783 per feu, up 1% Read more below ⬇️ https://lnkd.in/eeEWpSyp

Free to view: The port of Great Yarmouth in Norfolk, England, will let the bulk carrier Ruby (IMO: 9626390) berth to tranship its ammonium nitrate today. UAE-based manager Serenity Ship Management said it agreed with Peel Ports Group for the Malta-flagged, 2012-built, 37,039 dwt Ruby to discharge the cargo. The ship became the subject of a media scare over explosion risks that saw it denied entry at several European ports in recent months https://lnkd.in/eYrYtkuN

Free to listen: In this week's edition of the Lloyd's List podcast, our senior US reporter Greg Miller speaks with equity analyst Michael Webber, CFA about his newly released ranking of public shipping company corporate governance and ESG practices Listen to the full episode here: https://lnkd.in/eTpB3Uph

Free to view: Grace Ocean and Synergy Marine, the owners and managers of the containership Dali (IMO: 9697428), have agreed to pay $101.9m to settle a civil lawsuit filed by the US last month, the Department of Justice announced on Thursday. The lawsuit, which was part of legal action the companies initiated after the allision to limit their liability to $43.7m, alleged that the “entirely avoidable” catastrophe was caused by Grace Ocean and Synergy’s “careless and grossly negligent decisions”. The settlement money will be used to cover costs federal agencies incurred as part of their response to the disaster, the DOJ said Read more below ⬇️ https://lnkd.in/e-Y9p34F

Greece-owned ships are at the highest risk of attack by Houthis in the Red Sea and remain clear targets along with other Western-affiliated ships. Of the 219 Red Sea incidents involving Houthis where the vessel was reported, 49 have involved Greece-owned ships, Lloyd’s List analysis of data provided by maritime security firm Ambrey shows. Swiss, Danish, UK and other European ships were also popular targets. But not one Russia-owned ship was attacked https://lnkd.in/gdRasuBq

Free to view: Dry bulk rates continue to fall, in some cases to year-to-date lows. Hopes for a seasonal upswing in the fourth quarter are fading, and sentiment on 2025 is worsening due to a lack of faith in China’s economy. The Baltic Exchange’s C5TC capesize index fell to just $16,654 per day on Tuesday, down 46% from September 27 to levels seen in the first quarter, traditionally the segment’s weakest period. The 4Q24 capesize forward freight agreement (FFA) contract has fallen to $20,400 per day, down from $29,000 per day at the end of last month. Analysts and brokers have pointed to a number of near-term headwinds for capesizes. Read more below ⬇️ https://lnkd.in/g2Aa8Qnj