Freightos Group And Baltic Exchange Launched The Daily Container Freight Index
Baltic Exchange and Freightos Group have recently introduced the daily spot ocean freight rate index that is specially meant for 40-foot container vessels (FEUs) and this debut index will feature real-time, risk mitigation and transparent price discovery as associated with the container freight market. Since April last year, the Freightos Baltic Index (FBX) has been generated on a weekly basis by the well-established digital platform that revolves around freight and is focused on the live pricing data that is efficiently sourced from a huge number of logistics providers across the globe.
Japan-Based NYK Sealed The Deal To Build A Second LNG-Fueled PCTC
The well-known Japanese shipping organization that excels in logistics services, Nippon Yusen Kabushiki Kaisha (NYK) has ordered the construction of a second LNG-fueled Pure Car And Truck Carrier or PCTC at the Shin Kurushima Dockyard Co. After the contract was initiated on January 31, the vessel is currently being built at the dockyard and will probably be ready by 2022. This new carrier will ensure that loyal customers can gain access to a low-carbon transportation mode and this positive action by the company has been recognized as a genuine effort to reduce any harm toward our precious environment. This precautionary measure can prove to be very beneficial in creating a sustainable future for our marine industry in the long run!
Hapag-Llyod Tries Out A New Biofuel Blend Called B20
Hapag-Llyod is putting a new biofuel blend to test that is grabbing attention with its eco-friendly composition of 80 percent low sulphur fuel and 20 percent biodiesel. This biodiesel is called B20 and contains a fine blend of cooking oils and fats, which has been useful in operating The Montreal Express in Rotterdam. The B20 has been successful in reducing CO2 emissions by 90 percent when compared to commercial fuels. Similarly, another global organization called CMA CGM has also given a green signal to the testing of a new fuel that contains a biofuel component derived from cooking oil.
Four Global Container Shipping Companies Introduce A New East Mediterranean America Service
The four major container shipping organizations (OOCL, Yang Ming, Ocean Network Express, and COSCO) in Asia have jointly collaborated to launch a brand-new East Mediterranean America Service called EMA to create a service network that is highly efficient and is replete with advanced technology. The EMA service will include six Panamax vessels that will call at ports like Genoa, New York, Haifa, Piraeus, Algeciras, and Savannah. The major lines will ensure that the services will be of top-notch quality and will surely make an extra effort to meet the demands of the clients.
East Terminal Of Colombo Port To Start Working Within Three Months
The Sri Lankan Government has decided to make the East terminal of Colombo Port operational within a short period of three months. In fact, the future plans of developing the Western Terminal has been put forward as the main aim is to double the container handling capacity of the port. According to the 2020-2025 policy document, Sri Lanka is focussed on catching the attention of private investment for constructing the West container terminal and also deciding whether a cross-berth terminal between the two terminals should come into play.