Key steps made towards ammonia as fuel for vessels
IMO safety guidelines drawn to enable use of zero-emission – if toxic – fuel Denmark, Copenhagen – 22 December 2024. The IMO’s Maritime Safety Committee has adopted new guidelines and lifted restrictions, allowing ammonia to be used as a fuel for ships, supporting the industry’s shift toward decarbonization in line with the IMO’s 2050 net-zero […]
PCTC news: Chinese car exports continue strong growth
23% rise in 2024 may dip – but no decline expected in 2025 Denmark, Copenhagen – 22 December 2024. In November, China exported 548.6k cars, a 6.2% decrease month-on-month, but still reflecting a solid 4.7% year-on-year growth. Although we’ve observed some slowing in year-on-year growth in recent months, this is likely due to global car […]
Gas market update: LPG rates climb
Limited availability driving rates this January – further rises expected Denmark, Copenhagen – 22 December 2024. LPG freight rates surged this week, driven by increased activity in both the East and West. RT/C rates rose 21% week-on-week to USD 37,800/day, marking a nine-week high. According to Clarksons, the market is tightening due to limited vessel […]
Tankers: Stricter sanctions on Russian oil expected
Doubts remain over duration and efficiency of forthcoming U.S. sanctions Denmark, Copenhagen – 22 December 2024. The U.S. is preparing harsher sanctions on Russia’s oil trade, according to Bloomberg. The aim is to pressure the Kremlin economically. Details are expected soon, including potential measures against shipping fleets. Questions remain, however, about the effectiveness of such […]
Optimism despite a softer tanker market
Higher rates expected – driven by limited tonnage before Christmas Denmark, Copenhagen – 22 December 2024. The Aframax market had a mixed performance this week. In the UKC, rates saw a slight increase as charterers focused on safer itineraries ahead of Christmas. Meanwhile, activity in the Mediterranean/Black Sea region helped stabilize the market. With the […]
