Tanker rates on certain routes responded almost immediately to Russia’s three-pronged attack on Ukraine last Thursday. Freight rates for tankers set to load in both Baltic and Black Sea ports rocketed, with Baltic rates spiralling 240% within hours.

Bunker prices rose sharply yesterday as Russian troops invaded Ukraine on several fronts.

The pandemic has driven the rapid uptake of digitalisation by presenting problems that need fast and remote solutions. It’s a trend that is likely to increase over the coming decade says Martin Wallgren, Chief Information Officer at GAC Group.

Operating dual-fuel vessels takes a change of mindset throughout an organisation, but is the best available solution for decarbonisation, according to an expert panel.

Global sea trade suffered another major knock this morning as Russia’s invasion of Ukraine drove oil prices up by about 8%, something that will filter through to already sky high bunker prices.

China’s largest shipping corporation, Cosco Shipping Group, claims to carry one-tenth of the world’s cargo and operates over 5% of the world’s fleet by deadweight.

RINA has granted approval in principle to a MR tanker designed FKAB which uses LNG to create hydrogen onboard for use in propulsion.

Secondhand ship sales set a new record in 2021, according to data from Clarkson Research, with 2,507 assets changing hands and S&P spending of $47bn edging past the existing record of $46bn set in 2007.

Chinese chemical products supply chain service provider Xingtong Shipping is preparing for an Initial Public Offering (IPO) on the Shanghai Stock Exchange to fund business expansion.