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The big news for ocean shipping freight rates this week is demand out of the oil-producing nations of West Africa, which is pushing up rates for the second-largest category of crude oil tanker.
"Suezmax" is a naval architecture term for the largest ship measurements capable of transiting the Suez Canal in a laden condition, and is almost exclusively used in reference to tankers. The limiting factors are beam , draft , height (because of the Suez Canal Bridge ), and length [ 1 ] (even though the canal has no locks ).
Dredging and tugging aimed at freeing a mega vessel stuck in the Suez Canal failed on Friday to end a blockage that has lifted shipping rates for fuel tankers and scrambled global supply chains ...
The oil tanker St Nikolas (formerly Suez Rajan) has been involved in two geopolitically prominent seizures, by the United States and Iran.In April 2023 the Greek-managed Marshall Islands-flagged oil tanker Suez Rajan was seized by US authorities, for breaching US sanctions against Iranian oil, which fell under US jurisdiction due to the use of US financial services.
Suez Canal Container Terminal (SCCT) (Arabic: شركة قناة السويس للحاويات) is a container terminal located at Port Said East and functions as a transshipment centre for the Eastern Mediterranean at the northern entrance to the Suez Canal.
The Freightos International Freight Index was first launched as a weekly freight index in early 2017. [7] The Freightos Baltic Index has been in wide use since 2018. [8] It is currently the only freight rate index that is issued daily, and is also the only IOSCO-compliant freight index that is currently regulated by the EU (in particular, the European Securities and Markets Authority).
STS operations on Suezmax Oil tanker. Ship-to-ship (STS) transfer operation is the transfer of cargo between seagoing ships positioned alongside each other, either while stationary or underway. Cargoes typically transferred via STS methods include crude oil, liquefied gas (LPG or LNG), bulk cargo, and petroleum products.
The time charter equivalent (TCE) rate is a standard shipping industry performance measure used primarily to compare period-to-period changes in a shipping company's performance despite changes in the mix of charter types (i.e., spot charters, time charters and bareboat charters) under which the vessels may be employed between the periods.