Qatari shipping and maritime company Qatar Gas Transport Company (Nakilat) reported a 10.5% year-on-year increase in net profit to QR728mn (USD 200 million) in the first nine months of this year.Nakilat, which has the largest LNG shipping fleet in the world…
The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, extended losses for a sixth consecutive session on Friday, on weak demand across all vessel segments.The Baltic index, which reflects rates for capesize…
U.S. crude exports to Asia, which have slumped due to record freight costs, stirred on Thursday as rates slid and the premium in Asia for Russia's ESPO Blend oil sent buyers back to U.S. grades, according to market sources.Oil shipping costs…
White House trade adviser Peter Navarro on Friday pointed to next month's Asia-Pacific Economic Cooperation (APEC) forum in Chile as the Trump administration seeks to formalize its 'phase one' trade pact with China.'We're on the glide path to Chile and the meeting of the two presidents mid-November…
Navios Maritime Partners L.P., an international owner and operator of dry cargo vessels, managed to repay a major loan amounting to USD 418.5 million by combining three types of refinancing.Angeliki Frangou, Chairman and Chief Executive Officer of Navios Partners stated…
The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell to a one-week low on Wednesday, on weaker demand for all vessel segments.The Baltic index, which reflects rates for capesize, panamax and supramax vessels…
China National Offshore Oil and Gas Company (CNOOC) is on the hunt for liquefied natural gas (LNG) tankers to charter, several industry sources told Reuters, looking to replace ships it had previously hired that are linked to a Chinese company…
Mariners looking for insurance have a new option that is touted as being fast and affordable, cared for immediately in an online format that is designed to be more expedient than ever.360 Coverage Pros launched a new Marine License Insurance…
Intercontinental Exchange, operator of global exchanges and clearing houses and provider of data and listings services, reported new milestones in the trading of the TTF natural gas and JKM LNG (Platts) contracts.In September, TTF Futures and…
The Panama Canal has closed the 2019 fiscal year (FY19) with a record tonnage of 469 million Panama Canal tons (PC/UMS), a 6.2 percent increase compared to FY2018.With this figure, the waterway exceeds the 450.7 million PC/UMS tons projection for FY2019…
China strongly urges the U.S. to remove sanctions on Chinese firms and will take any necessary measures to firmly protect its own interests, China's commerce ministry said in a statement late on Tuesday.The U.S. government on Monday expanded…
Oil shipping rates are soaring following a series of sanctions on a Chinese transportation giant and limitations placed on movement of Venezuelan crude oil tankers.WHAT HAS HAPPENED TO SHIPPING RATES?The cost of chartering a supertanker to send…
Occidental Petroleum Corp provisionally chartered a supertanker to ship U.S. crude to South Korea for a new record of $13.25 million in November, three shipping sources familiar with the matter said on Monday.The Very Large Crude Carrier (VLCC)…
White House economic adviser Larry Kudlow said on Friday that the U.S. team was 'open-minded' about the outcome of U.S.-China trade talks next week, which will include deputy-level meetings on Monday and Tuesday, with minister-level meetings Thursday and Friday…
Freight rates to ship U.S. crude to Asia continued to surge, with costs to charter a supertanker rising to a record $12 million on Thursday, shipping sources familiar with the matter said.South Korea's top refiner, SK Energy, tentatively chartered the supertanker Maxim to ship U…