Changing dynamics lie behind volatile tanker market outlook

The first two months of 2023 have seen tanker market fortunes change rapidly, illustrating the volatility and upside that continues to persist as global trade patterns are reshaped. Sharp increases in spot earnings have been a feature of the first quarter so far, emphasising the volatility and upside that continues to persist as global trade […]

ICS and Suez Canal Authority commit to continue open communication

The International Chamber of Shipping (ICS) and Egypt’s Suez Canal Authority (SCA) have re-signed an agreement covering key issues impacting international shipowners and operations of the Suez Canal. The agreement was initially signed in May 2022 to increase information sharing and negotiations on the movement of global trade through the Canal. It represented a formalisation […]

West P&I launches Hull and War Risks cover to enhance product range

West P&I has launched two new competitive marine insurance products to enhance its product range. Called West Hull and West War, the new offerings are designed to enhance the Club’s services to Members, broaden its appeal to other shipowners and grow its footprint in the global marine insurance markets. West Hull and West War complement […]

Panama and the Philippines strengthen relations at Philippines Maritime Expo 2023

The Republic of Panama, through the Panama Maritime Authority (AMP), participated in the ‘Philippines Maritime Expo 2023: Flag State and Shipbuilders Convention’, which brought together the main shipping registries in the world, as well as prominent exhibitors from the world maritime industry, shipyards, shipowners, technology and maritime safety. Purpose of the event was the acquiring […]

Silverstream Technologies named 4th fastest-growing company in Europe in FT ranking

Clean maritime technology provider Silverstream Technologies, a specialist in air lubrication, has achieved a landmark entry into the Financial Times’ FT 1000: Europe’s Fastest Growing Companies 2023 listing, the company has announced. The seventh edition of the ranking, which this year recognises the top 1,000 companies in Europe based on revenue growth between 2018 and […]

SKS partners with Signal to expand its LR2 Pool

The Norwegian LR2 owner and operator SKS is opening up its pool to attract third-party LR2 tankers by leveraging Signal’s technological pool infrastructure and data-driven chartering tools. The new setup, named ‘SKS LR2 Pool – powered by Signal’, has been launched with SKS’ five LR2 spot vessels, co-owned with funds managed by Hayfin Capital, with […]

Wallenius Wilhelmsen becomes Leading Partner at Nor-Shipping 2023

Environmental pioneer Wallenius Wilhelmsen, one of the world’s leading companies in car transportation and Ro-Ro cargo, has confirmed that it is taking the role of ‘Leading Partner’ at Nor-Shipping 2023, taking place in Oslo and Lillestrøm, 6-9 June. This is the first time the firm, a stalwart of the Norwegian maritime industry, has signed up […]