U.S. Transportation Secretary Elaine Chao said Thursday she would resign, citing the intrusion of the U.S. Capitol by violent supporters of U.S. President Donald Trump.Chao, the wife of Senate Majority Leader Mitch McConnell, is the first Cabinet secretary to announce her departure after the events…
The Baltic Exchange's main sea freight index that tracks rates for ships carrying dry bulk commodities rose for a seventh session in a row on Thursday as rates firmed across all vessel segments.The Baltic dry index, which tracks rates for capesize…
Australia's trade surplus narrowed in November as China curbs on coal and farm goods took some steam out of exports, while a rebound in the domestic economy sucked in record goods imports.Other data out on Thursday showed Australia's property…
The European Union will impose tariffs from Friday on hot-rolled iron and steel products from Turkey based on an ongoing investigation into dumping.The duties will range from 4.8% to 7.6% and affect Turkish companies Erdemir, Isdemir, Colakoglu Metalurji and Habas…
Trading house Mercuria and Singapore-based asset manager Envysion Wealth Management have agreed to co-invest in mining and energy projects, as default-hit banks tighten their purse strings and leave commodities firms seeking other funding.The deal…
The union representing Argentine port-side grain inspectors said on Thursday it had ended a month-long wage strike after reaching a contract deal with export companies that will allow international soy, corn and wheat shipments to return to normal…
Investment company United Overseas Group (UOG) is to acquire Dubai-based shipping company United Arab Chemical Carriers (UACC), the two companies said on Thursday.The deal is subject to regulatory approvals and is expected to close in the first quarter…
Norwegian-based scale-up Yxney Maritime and Inmarsat signed an agreement for Yxney Maritime to join the group of certified application providers to provide a dedicated application for Inmarsat’s Fleet Data service.Fleet Data collects data from onboard sensors…
Despite the alarming headlines in the spring of last year, container shipping proved remarkably resilient in 2020 in terms of volumes as well as freight rates. After a 5.0 million TEU (7.3%) drop in volumes in the first five months of the year…
Scorpio Bulkers announced Wednesday that it intends to change its name to Eneti Inc. as the company plans its pivot from dry bulk shipping to offshore wind farm construction and services.The name change, which remains subject to approval at a February 3 shareholders meeting…
Crowley Shipping announced Wednesday it has formed a New Energy division to focus on offshore wind and liquefied natural gas (LNG) services in the U.S. and adjacent regions.The Jacksonville, Fla.-based maritime transportation and services firm…
BWMS User Guide lays out path to compliance over lifetime of installationThe Ship Operations Cooperative Program (SOCP) has released the Ballast Water Management Systems (BWMS) User Guide. Developed by Glosten in cooperation with the SOCP Members…
High shipping rates are set to continue for at least several weeks, despite new coronavirus lockdowns in Europe, boosted by demand for furniture, exercise equipment and home improvement goods, shipping group Maersk said on Wednesday.A surge…
The freight derivatives markets for both tankers and dry cargo vessels saw increased traded volumes in 2020, according to data released by the Baltic Exchange.Tanker Forward Freight Agreement (FFA) volumes were up 31% on the previous year, reaching 603…
Schulte Group invests in digital technology for the cruise sector by acquiring software provider Rescompany. Rescompany Systems Ltd. (Resco) is a provider of advanced hospitality software solutions to the cruise industry, and with its integrated ship to shore software systems…