“Success is the ability to go from failure to failure without losing your enthusiasm.”
Good morning, and welcome to my daily Panamax Post column. Storm Éowyn will hit the UK later this week, its being intensified by a powerful jet stream across the Atlantic, from 2am tomorrow. Be careful out there.
With much in the news, I wish you good fixtures and safe travels. And now for the news before the headlines.
Politicians and industry leaders welcomed the release of the 25 crew of the Galaxy Leader, held hostage by the Houthi for 14 months.
Baltic Index hits near two-year low on weaker rates across vessels.
A ceasefire between Israel and Hamas has raised hopes for the resumption of container ship traffic through the Red Sea. However, Xeneta analysts caution that significant uncertainty and volatility will persist in ocean supply chains throughout 2025.
India widened backing for Russian insurers as the largest buyer of Moscow’s seaborne crude strives to keep discounted barrels flowing, after the US imposed fresh sanctions earlier this month.
Ships not linked to Israel could begin returning to the Red Sea in as little as two weeks, DP World’s deputy chief executive said, adding that could see freight prices “come crashing down.”
Officials from Ukraine, the United Kingdom (UK) and Lithuania on Jan 20th signed an updated Memorandum of Understanding (MOU) to initiate the unique Grain Verification Scheme (GVS), which aims to address and prevent the illegal export of Ukrainian grain from the occupied territories.
India plans to increase spending on food, fertilizer, and cooking gas subsidies by 8% to $47.41 billion for the next fiscal year.
France’s CMA CGM is being widely tipped as the European owner mentioned in a release today by HD Hyundai Heavy Industries behind the biggest ship orders in the year to date.
A Singapore-flagged bulk carrier was boarded by six individuals while transiting eastbound in the Philip Channel of the Singapore Strait in Indonesian waters, the latest in a series of attacks in the same area over the past few months.
Many insurance companies are still reluctant to provide cover for ships and cargoes transiting the Red Sea unless the ground level threat comes down to near-zero.
CEO Julian Panter shares his vision of a more efficient, sustainable and profitable shipping industry built on common languages and standards.
Brent crude futures fell 23 cents, or 0.3%, to $78.79 a barrel at 0135 GMT, while U.S. West Texas Intermediate crude (WTI) eased 18 cents, or 0.2%, to $75.26.
The Port of Long Beach set a new record in 2024, handling 9.6m cargo containers without any disruptions or backlogs.
China’s Ningbo Zhoushan Port posted a record cargo throughput of 1.34 billion tons in 2024.
Click Here 👉 https://www.scoop.it/topic/panamaxpost👈 to read all articles in full and watch videos in today’s Panamax Post