Latest maritime market updates and reports
Seatrade Maritime
Jeremy Nixon, the founding CEO of Ocean Network Express (ONE), will be stepping down mid-year, with Till Ole Barrelet from Emirates Shipping Line set to take over, as reported by Seatrade Maritime.
Splash247
The Indian National Shipowners’ Association (INSA) has become a full member of the International Chamber of Shipping (ICS), marking India's growing influence in global maritime affairs, as reported by Splash247. Thomas Kazakos, ICS secretary-general, highlighted India's significant role in international shipping.
Seatrade Maritime
Seatrade Maritime reports that the VLCC market has hit unprecedented levels, with spot fixtures exceeding $200,000 per day and time charters surpassing $100,000 daily. The surge is attributed to rising tensions between the US and Iran.
Splash247
Hapag-Lloyd's acquisition of Israeli liner ZIM for $4.2 billion is facing resistance as ZIM employees threaten strikes, according to Splash247. The deal includes the creation of 'New ZIM' by Tel Aviv-based private equity firm FIMI.
Splash247
The Baltic Dirty Tanker Index surged by 14% over four weeks to February 20, reaching 1,787 points, as reported by Splash247. This increase, attributed to geopolitical risks involving US actions in Venezuela and potentially Iran, marks the highest levels since January 2023.
Splash247
Splash247 reports that the dry cargo freight markets have experienced steady progress, with the Baltic Dry Index (BDI) rising 18% to 2,043 points by February 20. The capesize, panamax, supramax, and handysize indices have seen gains of 19%, 17%, and 18% respectively over the past four weeks.
gCaptain
DHT Holdings has secured a one-year time charter for the DHT Redwood at a rate of $105,000 per day, marking one of the highest publicly disclosed fixtures, as reported by gCaptain. This development highlights the recent surge in VLCC charter rates back into six-figure territory.
gCaptain
gCaptain highlights the pivotal moment ten years ago when the LNG carrier Asia Vision departed from Louisiana's Sabine Pass Terminal with a significant shipment of liquefied natural gas to Brazil. This event marked the start of a transformative era in global energy markets.
Seatrade Maritime
Seatrade Maritime reports that the US supply chain continues to face challenges as the Supreme Court's decision to strike down certain import tariffs was quickly followed by new tariffs. This ongoing uncertainty is causing disruptions for businesses relying on stable trade policies.
Seatrade Maritime
Seatrade Maritime reports that the Gemini alliance, comprising Maersk and Hapag-Lloyd, demonstrates potential improvements in ocean supply chain visibility despite a general decline in container line punctuality in 2026. This development highlights the possibility of change in an otherwise challenging year for shippers.
