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Ocean freight rates have increased more than 91% in a year

Xeneta’s Long-Term XSI® Public Indices today revealed yet another monthly hike in long-term ocean freight rates, with global container prices climbing by 3.2%. The development follows a 2.2% increase in August and an unprecedented 28.1% jump in July, leaving rates now standing 91.5% up year-on-year. What’s more, comments Oslo-based Xeneta, there is little evidence to

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European Union plans update of Arctic policy

The head of the European Parliament’s foreign affairs committee is pledging to keep the Arctic high on the body’s legislative agenda in order to ensure the bloc maintains an ambitious strategy towards the region amidst a period of rapid change, according to a report published by the Arctic Today newsletter. “Our committee will ensure that

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Carbon intensity database for world maritime fleet

A credit rating and analysis firm based in Germany has launched the first dedicated database to display Carbon Intensity Indicator (CII) ratings for the world’s commercial maritime fleet. According to Scope ESG Analysis, the database product which is known as Ship Review, will enhance the transparency of ships’ environmental, sustainability, and reliability/safety performance. Based on

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Canada Pension Plan becomes owner of giant Ports America terminal operator

Canada Pension Plan Investment Board has announced that it has entered into a definitive agreement to become the 100% owner of Ports America, North America’s largest marine terminal operator, through the acquisition of an interest from funds managed by Oaktree Capital Management, L.P. Financial details were not disclosed, though Bloomberg valued the deal at US$4 billion. CPP

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World installs 6.1GW of Offshore Wind in 2020, led by China

   Offshore Wind capacity grew steadily in 2020, but governments will need to act decisively to improve policy in order to scale up installations at the pace required to help the world meet its carbon emissions targets and avoid the worst effects of global warming, according to the Global Wind Energy Council. In its flagship

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(On our Forum)Fantasy Island and the realities of decarbonisation…

By Michael Grey* One of my happiest assignments was during the 1970s when I found myself the part-time “Maritime Editor” of the new children’s weekly “Speed and Power”. It was a wonderful role, with a readership that could be relied on to respond vigorously to just about everything the journalists said in their pages. And

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Samskip acquires shortsea carrier to widen Baltic footprint

Rotterdam-based transport group Samskip has announced the acquisition of shortsea specialist Sea Connect aiming to broadened its Baltic operations. The Lithuania-based shipping company, which will be renamed Samskip Sea Connect, offers shortsea services connecting Russia, Lithuania, Denmark, Germany and the Netherlands. Additionally, Sea Connect operates three 1A Ice Class container vessels calling twice a week

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IMO and ILO urge greater action on medical care for seafarers

The Secretary-General of the International Maritime Organization (IMO) and the Director-General of the International Labour Organization (ILO) have issued a joint statement calling for port and coastal States to facilitate the prompt disembarkation of seafarers for medical care as a matter of “life or death.” They call for seafarers to be prioritized for COVID-19 vaccination

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