Reflections 2019 – Market Analysis Section By Peter Sand, Chief Shipping Analyst.This article contains extracts from BIMCO’s Reflections 2019, which will be available in full on 2 January 2019 on www.bimco.org and will be sent out to all BIMCO…
Royal Caribbean International returned to the Port of New Orleans (Port NOLA) when the Vision of the Seas homeported at the Julia Street Cruise Terminal for its inaugural cruise Dec. 15, 2018. The 2,514-passenger ship will sail seasonal, seven…
Lithuania has given the go ahead to state-owned Klaipedos Nafta to purchase a liquefied natural gas (LNG) storage vessel by late 2024, as it shores up energy supplies and reduces its reliance on Russian natural gas.Klaipedos Nafta is currently…
APM Terminals Mumbai, the largest container terminal facility in India, has achieved a record of handling more than 2 million TEUs (Twenty-Foot Equivalent Units) throughput in 2018 for the first time since the terminal was commissioned in 2006…
Angola's Soyo liquefied natural gas (LNG) plant has resumed production after a 'controlled' shutdown, a spokeswoman for Angola LNG said on Tuesday.She did not specify why the shutdown had occurred and declined to say when the plant would load its first cargo after reopening…
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, on Tuesday retraced from its six-week high in the previous session, weighed down by declines in capesize vessel rates.The overall index, which factors in rates for capesize…
Singapore-based shipbuilder Sembcorp Marine cemented its position as Asia’s top cruise ship repair and upgrade solutions provider in 2018 with the successful completion of repairs on the Costa Fortuna – the Group’s 10th and final cruise ship project this year…
Danish shipping company Nordic Tankers, Dania Ship Management and Danfoss IXA have been cooperating on testing new innovative technology for monitoring emissions on an ongoing basis.The chemical tanker company hailed that the result is a front…
DP World has joined forces with industrial engineering company SMS Group for the 'high-bay storage' system for shipping containers.An international joint-venture formed by global trade enabler DP World and industrial engineering specialists…
Shell Oman Marketing Company SAOG signed an agreement with Port of Duqm Company SAOC (PDC) to develop fuel bunkering facilities and services.The downstream oil marketing company in the Sultanate said in a press release that agreement was signed by Dr…
Simulation exercises are proving to be a valuable tool to assist countries and port authorities to prepare for a wide range of potential threats and security situations.According to a press release, an interactive port facility/port security officer workshop in Panama City…
Japanese shipping company Nippon Yusen Kabushiki Kaisha (NYK), the first company in the global shipping industry to issue labelled green bonds, presented its initiatives at a seminar conducted by Mitsubishi UFJ Morgan Stanley Securities Co. Ltd…
Maersk Line is expanding its commercial offering with the introduction of an extended liability solution, Value Protect, which will act as a substitute to regular cargo insurance, in protecting customers’ cargo.'Maersk is expanding its commercial offering and introduces Value Protect…
The circular plastics hub in the Port of Amsterdam is expanding through the construction of a new plastics recycling plant. Plastic Recycling Amsterdam (PRA), a collaboration between Umincorp and Milieu Service Nederland, commenced construction of a plant this week…
Ocean freight rates for cargoes moving under contracts on major East-West routes decreased by 7% in the fourth quarter, according to the results of Drewry’s Benchmarking Club Contract Index.The cost reduction, based on contract freight rate data provided confidentially by Asian…