While, weak spot prices and higher futures prices created demand for oil tankers has boomed, bulk carriers have been hit by massive overcapacity, as Chinese demand for such commodities has collapsed, says latest report from the Economist. The…
Worse is still to come for many bulk carriers, warns a report in the Economist that claims that the dry-bulk cargo shipping has hit the bottom. Between the start of the financial crisis and January this year Baltic Dry Index - a measure of bulk freight rates—had fallen by 95%…
The annual Tripartite meeting between shipowners, shipbuilders and classification societies was held in Seoul, Republic of Korea on 16 and 17 October 2015. The meeting was attended by 100 high level representatives of the industry, including…
Marine, cargo and supply chain solutions provider Inchcape Shipping Services (ISS) has won a new contract with MSI Ship Management Pte Ltd to provide crew logistics services (CLS) across the globe.Under the new contract, MSI Ship Management will assign numerous vessels including bulk carriers…
Emco Wheaton, a manufacturer and supplier of equipment for liquid, gas and dry bulk products, has announced two additions to the Americas sales team with Holly Damude taking on the role of DRY-BREAK Product Specialist and Eric Rodriguez appointed as Territory Sales Manager…
Hindustan Shipyard Limited (HSL) may sell its bulk carrier under construction at the yard to the Indian Navy, reports the Hindu. Goodearth Maritime Limited (GML) has failed to settle its dues for nearly a year after placing the order under Diamond Series of 53…
Freight rates for very large crude carriers (VLCCs) could face drop further next week on excess tonnage supply and lower cargo volumes, reports Reuters. A Singapore based VLCC broker said that there’s no upside. Rates will either be flat or on the downside…
Financially-troubled Japanese dry bulk specialist Daiichi Chuo Kisen Kaisha plans to halve its current long-distance shipping fleet, reports Nikkei. The debt-ridden shipowner under civil rehabilitation proceedings, also plans to improve profitability by updating charterage to shipowners…
Though Russian ports have seen a general decline in the number of containers handled, multimodal operator Ruscon reports it has seen its own numbers rise.Ruscon, a subsidiary of Russian container transport company Global Container Service (GCS)…
The Transportation Safety Board of Canada (TSB) is deploying a team to Trois-Rivières, Quebec, following the collision between the bulk carrier Desert Rhapsody and the tug Ocean Basque. The TSB will gather information and assess the occurrence…
The horrific explosions in the Chinese port of Tainjin illustrated vividly just how volatile port operations can be. But safety issues are only one facet of risk in the complex world of shipping ports.From piracy on the high seas to data thievery in port…
Sinotrans Shipping has ordered four new energy-saving containerships of 1,900 teu in capacity each at CSSC Huangpu Wenchong Shipbuilding Company for $98.2mln. The four newbuildings, each costing $24.55m, are scheduled to be delivered from the shipyard in May…
Rand Logistics, Inc., a provider of bulk freight shipping services throughout the Great Lakes region, today announced the appointment of Christopher J. Garwood to the position of Corporate Vice President of Procurement responsible for managing…
One of the first commercial applications of MAN Diesel & Turbo’s new MAN Alpha Kappel FP propeller took place off the coast of China recently when the vessel Elsabeth C, a 58,500-dwt Supramax bulk carrier owned by Frontmarine Co. Ltd – an affiliated and managed company of Lemissoler Navigation Co…
Sparking speculation that a recovery in commodities could be around the corner, the Baltic Dry Index, a measure of shipping costs for commodities, has risen 17.5 per cent since September 15, reports Business Standard. The indexis up 21 per cent at 943…