Asian liquefied natural gas (LNG) spot prices jumped this week in reaction to volatile price spikes on European gas markets and ongoing demand from the region's major consumers. Spot prices for January delivery hit $10.50 per mmBtu, 40 cents above last week…
India has raised the effective import duty on petroleum coke to 10 percent from 2.5 percent, according to a government order, days after the government told a court it was in favour of curbing the use of the dirty-burning fuel.The duty has…
The Maritime and Port Authority of Singapore (MPA) has injected another S$12 million (US$8.9 million) to boost liquefied natural gas (LNG) bunkering in the Port of Singapore. Half of this S$12 million has been set aside to co-fund the building…
POLB Executive Director Mario Cordero weighs in from his new West Coast chair, on the most pressing issues of the day. Arguably the industry authority from both the regulatory and commercial sides of the equation, his opinion carries weight and…
Singapore's First Ship Lease (FSL) Trust said that it has sold containership, FSL Santos for $6.2 million to reduce its debt service requirements for the fourth quarter. A press release from the company stated: FSL Trust Management, as trusteemanager of First Ship Lease Trust…
Eagle Bulk Shipping, through its wholly-owned subsidiaries Eagle Bulk Shipco and Eagle Shipping LLC, has entered into a series of refinancing transactions, including the repayment in full of Eagle Shipping’s outstanding first and second lien credit facilities…
Jawaharlal Nehru Port Trust (JNPT), handled 3.9 lakh TEUs in the month of November 2017, while recording a growth of 5.76% in container handling for the period Apr-Nov2017 as compared to same period last year. Of the four terminals at JNPT…
Former Daewoo Shipbuilding & Marine Engineering (DSME) boss Nam Sang-tae sentenced to six years in prison by Korean court for embezzlement and bribery, Yonhap reported. The report said that the Seoul Central District Court handed down the guilty verdict to Nam Sang-tae…
Diana Shipping, through a separate wholly-owned subsidiary, has entered into a time charter contract with EGPN Bulk Carrier, Hong Kong, for one of its Capesize dry bulk vessels, M/V Boston. The gross charter rate is $17,000 per day, minus a 5 percent commission paid to third parties…
Pyxis Tankers Inc. said it has entered into a definitive securities purchase agreement with a group of investors, which will result in gross proceeds to Pyxis Tankers of $4.8 million, before deducting placement offering expenses. The company will issue 2…
Chinese exports to Cuba have plunged this year in the latest sign of a worsening in the Communist-run island's financial situation, which began in 2015 with the economic crisis in its top trading partner Venezuela. Chinese exports to Cuba slumped 29…
Scorpio Bulkers announced that the Company has received a commitment from a leading European financial institution for a loan facility of up to $38.7 million. The loan facility will be used to finance up to 60% of the market value of the…
A recent study released by the South Carolina Council on Competitiveness (Council) authored by Dr. Joseph Von Nessen, finds that there are more than 600 logistics companies operating in the state of South Carolina, from transportation, to air freight providers…
Ocean Yield ASA has agreed to acquire three suezmax crude tankers with 10-year bareboat charters to Nordic American Tankers Limited (NAT). The net purchase price is USD 43.2 million per vessel after seller's credit. The net purchase price constitutes 77…
Oslo based financial investor Rasmussengruppen sold its entire stake which is 4.8 million shares of Danish dry bulk bulker owner Norden. A press statement said: 'In accordance with section 29 of the Danish Securities Trading Act, it is…