Have been tracking some freight indices due to research into Samudera. I am just trying to be consistent with my prior posts, so please don’t blast me for posting negative shipping news after exiting!
https://splash247.com/scfi-continues-its-long-decline/
Some extract for the article
“ The Shanghai Containerized Freight Index (SCFI) continued its long decline today, registering an 85 point drop to close the week on 4,540 points, still roughly quadruple its historical average but it has been falling week in, week out now since November.
Other box indices operated by the likes of Drewry and Xeneta have also been coming off in March, although historically container fortunes tend to slide in the weeks following Chinese New Year.
There is growing concern among analysts that the retail boom across much of the western world is coming to an end, with soaring inflation and the war in Ukraine forcing consumers to put their wallets back in their pocket.”
Please read the full article as there are contemplations on whether the liners are purposefully letting rates slip to pacify regulators.
https://www.mpa.gov.sg/web/portal/home/m...106a166d52
Update on MPA’s Preliminary Findings on Reported Bunker Fuel Contamination in Singapore Port
13 Apr 2022
Basically about 80 ships reported engine issues and upon investigation, MPA says that 200 ships was topped up with marine fuel which contains excessive COC (chemical) which caused problems to pumps and engines.
Bear in mind that MPA has stringent checklist and guideline for these marine fuel because this is Singapore and we are Singaporean.
However, COC is not one of the check - haiz.... (This reminded me of the incident that drinking water from KL was tinted with Ammonia, and guess what, Ammonia is not one of the tested substance.)
A lot of things need to be done and a lot of procedures will need to be put in place.
Meanwhile, have a nice Good Friday, everyone.
Enjoy:
Gratitude.