The Baltic Dry Index can best be described as a weighted average of daily shipping rates for the different classes of dry bulk vessels, namely Capesize, Panamax, Supramax, and Handysize based on a daily survey of agents across the globe.
Picture: The ULCV CSCL Jupiter aground in the River Scheldt in August 2017
The recent ordering of a batch of 22,000 TEU capacity Ultra Large Container Vessels (ULCV) has re-ignited the debate surrounding just how big container vessels can become.
The November 13-14, 2017 UNFCCC COP23 meeting in Bonn was the stage for the world’s 3rd largest container carrier, the Marseille based CMA CGM Group, to announce its decision to fit its 9 x 22,000 TEU newbuilds scheduled for delivery in 2020, with LNG propulsion.
Image: G3 Terminal in Vancouver – set to become Vancouver’s first new grain terminal since the 1960’s. The terminal is nestled between Neptune Terminals to the west and Lynnterm Terminal to the east.
Some 150 container vessels of around 300,000 TEU capacity are currently laid up and this number is expected to expand considerably in the next few weeks as demand slows during the northern winter slow season before picking up again ahead of Chinese New Year.