• 2021 January 18 18:26

    The Valencia Containerised Freight Index rises 4.19% in December 2020

    The Valencia Containerised Freight Index (VCFI) of December experienced a growth of 4.19% with respect to the previous month, confirming the trend of the last five months of the year of increased freight rates, the company said in its release. The high demand for traffic with China and the rise in fuel prices have played a major role in this increase. Thus, the VCFI as a thermometer of the evolution of maritime transport prices is demonstrating the recovery of economic activity. Thus, freight rates end 2020 with a new all-time high of 1,423.2 points, an increase of 42.33% compared to the start of the series in 2018.

    This situation is due to the high demand for containers in recent months at a global level, according to the latest RWI/ISL data produced by the Leibniz Institute for Economic Research. Moreover, this rise in freight rates is particularly marked by the great dynamism in some markets and trade routes that has triggered demand, which led some shipping operators not to accept bookings with China (Alphaliner) at the beginning of this month.

    Thus, due to the boost in demand there has been a sharp reduction in the levels of idle fleet over the last few months. In this respect, the world fleet of inactive container ships stood at 158 ships in December, with a total of 655 984 TEUs, representing 2.8% of all active vessels.

    In addition, other factors directly related to the operating costs of shipping companies have also shown an upward trend in the month of December. On the one hand, the average price of the European Brent barrel rose by 15.93% with respect to November, from $42.60 to $49.49 in December. On the other hand, the bunkering prices of IFO380 (Intermediate Fuel Oil) and VLSFO (Very Low Sulphur Fuel Oil) also rose in the last month of the year.

    About the performance of freight rates by area in December, it should be noted that they grew in ten of the thirteen areas analysed in the VCFI. Only East Coast Africa (-0.35%), Central America and the Caribbean (-0.63%) and Latin America and the Pacific (-2.26%) experienced a contraction in their levels. In the rest of the areas, the dynamism of the markets located along the trade route between the Mediterranean and Asia such as the Far East (+15.18%), the Middle East (+12.06%) and the Indian subcontinent (+13.58%) stand out. It is also worth noting the increase in export freight from Valenciaport to Latin America and the Atlantic (+10.81%).

    About the Western Mediterranean sub-index, December saw a further change in the series, returning to strong growth of +11.68% and once again showing the volatility of freight rates in the countries of this market. Thus, the year began with a strong increase of 11.57%, due to the cost associated with the entry into force of the new IMO 2020 regulations. However, after this initial growth, prices fell in the following months and there was very little stability in the second half of the year, with continuous changes in the trend.

    In addition, Valenciaport’s traffic with Morocco continues to be at much higher levels than last year for the same period, even though in November (the latest data available) it suffered a slight decline. For its part, Algeria’s export traffic from Valenciaport is very similar to that of 2019, with a slight increase in November.

    As for the Far East sub-index, in December it experienced the highest growth in the last eight months with a rate of +15.18 %. It now has five consecutive months of rising freight levels and stands at 2,763.37 points, reaching a new all-time high since the series began in 2018. On this occasion, as already mentioned, the high demand for traffic with China is translating into strong growth in freight rates worldwide. This situation also occurs in Valenciaport, where export traffic to China increased in the month of November well above its behaviour in the same month of the previous year.

2021 February 25

11:04 “K”Line commences technical management of Singapore’s first LNG bunkering vessel “FUELNG BELLINA”
10:33 Telemar wins 50-vessel service and maintenance contract with Fairplay Towage group
10:21 MABUX: Bunker market this morning, Feb 25, 2021
10:13 BC Ferries releases its third quarter results
09:59 CMA CGM implements FAK rates from the Mediterranean, Adriatic, North Africa & Black Sea to the Indian Subcontinent
09:50 BC Ferries' fifth battery hybrid-electric vessel launched
09:28 Oil market sees mixed price movements
09:12 Baltic Dry Index as of February 24

2021 February 24

18:06 Parkwind selects DEME Offshore for foundation EPCI contract at Arcadis Ost I
17:47 Ministry of Transport of Dagestan looks into organizing sea cruise tourism in Caspian Sea
17:26 ABS to class first ever Jones Act wind turbine installation vessel
17:16 Yangtze River Protection Law will come into force on 1st March, 2021
16:59 Admiral Kasatonov frigate of RF Navy’s Northern Fleet performs long range campaign tasks in Aegean Sea
16:28 Port of Antwerp deploys autonomous drones for safety enforcement
16:15 DFDS aims for greener ferries from alternative fuel project
15:51 Mordraga supports 4th International Congress “Hydraulic Engineering Structures and Dredging” as its Sponsor
15:29 Maersk backs plan to build Europe’s largest green ammonia facility
14:25 Vostochnaya Veft shipyard starts building yet another floating berth for RF Navy’s Pacific Fleet
14:03 Cargill and Maersk Tankers combine volumes and market expertise to launch new bunker procurement service
13:44 Chuvash Republic to be provided with RUB 330 million for purchase of river transport
13:12 Contractors selected to construct the quays in the Amalia Harbour
12:31 Port of Oakland cargo volume off due to crowded ports
12:27 Corvette Stoyky of RF Navy’s Baltic Fleet entered Oman on business call
11:57 Bureau Veritas joins the coalition for the energy of the future
11:23 MPA joins industry in ammonia fuelled tanker JDP
10:31 MABUX: Bunker market this morning, Feb 24, 2021
10:28 ASPO tests main propulsion plant of chemical tanker PortNews
10:09 The Grimaldi Group orders six ro/ro multipurpose vessels
09:27 Crude oil futures go down in response to growth of US resources
09:20 MPA and Yara join to Ammonia-fuelled tanker Joint Development Project
09:11 Baltic Dry Index as of February 23

2021 February 23

19:35 Braemar to repeat record-breaking voyage of Corinth Canal in 2022 with new cruise unveiled by Fred. Olsen Cruise Lines
16:19 Cutter Thetis returns from a 43-day Caribbean Sea patrol
15:11 Meyer Werft starts construction on Arvia for P&O Cruises
14:18 The Coalition for the Energy of the Future unveils its first seven concrete actions and welcomes three new members
13:35 New JOSCAR accreditation: UK office approved for UK defence projects
12:08 MABUX: Bunker market this morning, Feb 23, 2021
11:21 Port of Gdansk lands first delivery of post Brexit fish

2021 February 22

15:12 Hamworthy Pumps wins pump contract for new Royal Navy frigates
13:37 Atlantic Shores announces monumental six-union agreement to train and hire New Jersey union workers
12:24 APM Terminals Algeciras reaches all employees with a safety campaign
11:43 USCG medevacs man from tug boat 60-miles off Grays Harbor
10:37 MABUX: Bunker market this morning, Feb 22, 2021

2021 February 21

14:51 Port of Oakland names Julie Lam CFO
13:22 Guy Cowan takes helm at Port of Brisbane Pty Ltd
12:16 ABP gains international ISO 14001 Environmental Management Certification
11:04 JAX LNG and TOTE Services conduct their first ship-to-ship LNG bunkering of a foreign-flagged vessel at JAXPORT
10:53 Missing yacht found near Whangarei

2021 February 20

18:05 Sevmorzavod shipyard launches starboard pontoon for floating crane of Project ПК-700
16:59 The Panhellenic Crew Union to launch a 48-hour strike at the port of Piraeus in Greece
16:20 Average spot market price for Russian M100 product climbed to RUB 21,600 pmt
15:03 Conrad hosts steel cutting ceremony for GLDD
14:37 Busan Port's chain portal is introduced as a best practice in port digitalization
14:13 Rail subsidiary Metrans to expand network through investment in Hungary
13:48 Government of Finland proposed extension to validity of ships’ crew qualification certificates
13:06 Crowley integrates Jensen Maritime into new Engineering Services Group
12:54 Professor Horst Linde: Container terminal in Świnoujście will fill the gap between Hamburg and Gdansk
12:12 NAVTOR acquires vessel analytics and performance specialist Tres Solutions
11:13 NIBULON launches its sixth non-self-propelled NBL-91 Project vessel
10:49 LNG carrier Christophe de Margerie arrived in Sabetta