The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, crawled up for the second straight session on higher rates for capesize vessels.The overall index, which factors in rates for capesize…
Marine coating major AkzoNobel announced it has declined a third unsolicited, non-binding and conditional proposal submitted by PPG Industries on April 24, 2017, for all outstanding ordinary shares in the capital of AkzoNobel. A statement…
Demand for methanol and vegoil will moderately support global seaborne trade causing the shipping fleet trading in chemicals and vegoils to expand, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry…
Eagle Bulk Shipping reported a loss of $11.1 million in its first quarter. It posted revenue of $45.9 million in the period.Gary Vogel, Eagle Bulk's CEO, commented, “During the first quarter, Eagle finalized the acquisition of 9 Crown-63 Ultramax…
Scorpio Tankers, provider of marine transportation of petroleum products, announced that it has reached an agreement with an unrelated third party to sell two of its 2013 built MR product tankers (STI Sapphire and STI Emerald) for approximately $56…
Frederick J. Harris, recently retired president of General Dynamics NASSCO and Bath Iron Works shipyards, has joined the operating executive board (OEB) of private equity firm J.F. Lehman & Company.The OEB is a group of industry and government…
Crude oil tanker company DHT Holdings rejected on Sunday a fifth takeover proposal from shipping tycoon John Fredriksen's Frontline. A statement from DHT Holdings said that its Board of Directors has unanimously rejected Frontline April…
Brazil may revise public port regulations to lengthen operators' contracts and encourage improvements, officials told Reuters, in an effort to attract more private investment in infrastructure that is crucial to the country's powerhouse farm sector…
The Shipowners’ Club, the leading mutual P&I insurer in the smaller and specialist vessel sector, has reported resilient results for the year ending 31 December 2016. The Club has reported a combined ratio of 98.6%, an increase in gross tonnage of 0…
Antwerp Port Authority and Energy Recovery Systems Company Ltd. (ERS) have decided by common consent to cancel the option held by the company on the Churchill site. ERS informed the Port Authority that it needed more time to reach the milestones imposed by the Port Authority…
d'Amico International Shipping believes that the supply-demand balance in the product tanker freight market is improving. The key drivers that should affect the product tanker freight markets are (i) global oil supply (ii) the crude oil…
Spending levels for several federal agencies aid port authority efforts to deliver prosperity The American Association of Port Authorities (AAPA) is applauding Congress for approving the 2017 Omnibus Appropriations Bill, which will maintain…
Waterways Council, Inc. (WCI) praised today’s passage of the FY 2017 Omnibus Appropriations bill that provides funding for the U.S. Army Corps of Engineers through the Consolidated Appropriations Act of 2017. FY ’17 funding for the Corps’ Civil Works mission totals $6…
In the face of a global grain glut that is crushing profits and raising questions about long-term prospects for the world's big grain merchants, the companies maintain they need only a drought or other supply shock to return to the riches of the past…
FSL Trust Management (FSLTM), as trustee-manager of First Ship Lease Trust (FSL Trust), reported a net profit of $3.4 million for the three months ended March 31, 2017, compared to $2.3 million reported in 1QFY16. This positive result was achieved despite challenging industry conditions and a 17…