Disruption in the Strait of Hormuz forced cargo rerouting and capacity redeployment, while port congestion in Europe, the Middle East, South America and West Africa kept rates elevated

No reason has been given for the withdrawal of the application, which puts on ice a deal agreed late last year

The key Russian Black Sea port has come under fire from Kyiv’s drones multiple times in recent weeks, with several vessels hit in the region as a result

The Baltic Exchange named an eventual successor to Mark Jackson as part of a ‘planned and orderly leadership transition’ announced in October last year

The death toll has increased to six after two members of a rescue team were also killed in the attack 

Honorary Zihni Group chairman passed away last week in Greece at age 80