In a significant breakthrough for the container shipping business, the two criteria currently used when inspecting containers during the interchange process between operators and leasing companies are now to be harmonised. Until now, there…
With a one stop shop offer to facilitate your shipping experience, CMA CGM, in partnership with one of the largest marine insurance companies in the world, has developed a Unique Cargo Insurance Program to cover the unexpected and unforeseeable events that may lead to loss or damage of your cargo…
Qatargas, the World’s Premier LNG Company, today announced a flexible Sale and Purchase Agreement (SPA) with RWE Supply Trading (RWEST), a leading European electricity and gas company. Qatargas will deliver up to 1.1 million tonnes of Liquefied…
The tanker fleet has grown over the past twelve months by another 203 units amounting to 21.9 million dwt, says Gibson's Mid-Year Review of Weekly Tanker Market Report. This follows a period of very limited fleet growth (across all but…
Mark Whitworth, CEO of Peel Ports Group, and Gary Hodgson, COO, were VIP guests of the Mayor of Panama during the inauguration ceremony of the newly expanded Panama Canal when the official opening took place on Sunday, June 26th. The delegation from Peel Ports…
Israeli carrier Zim Integrated Shipping Services (ZIM) might join the 2M Alliance between Maersk Line and Mediterranean Shipping Co., Alphaline said quoting industry sources. This news followed the last week's news of South Korea’s Hyundai Merchant Marine (HMM)…
Diana Shipping Inc. has announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Nidera S.P.A., Roma, for one of its Panamax dry bulk vessels, the m/v Oceanis. The gross charter rate is US$5…
According to AlixPartners’ inaugural study of industry performance based on an analysis of the major dry bulk shipping companies, industry revenues for the global group fell 18% from 2014 to 2015.Even more troubling was the collapse in earnings before interest…
According to the latest Carrier Performance Insight, produced by Drewry Supply Chain Advisors, the most reliable carrier in May was Orient Overseas Container Line (OOCL), which had an on-time reliability average of 81.1%, closely followed by niche carrier Wan Hai at 81…
Xeneta, a global benchmarking and market intelligence platform for containerized ocean freight, believes that the UK’s decision to leave the European Union will impact negatively on all parties involved in the container shipping segment – from shippers…
UK Industry trade body Mersey Maritime has announced a new trade agreement with the Isle of Man Shipping Association (IOMSA) which aims to supercharge bilateral trade, particularly among small to medium sized businesses. The agreement was…
The demand outlook for the multipurpose fleet has not improved since the first quarter of 2016. The breakbulk and project cargo sector remain weak, with little suggestion that volumes will improve significantly until the end of 2017, according…
The Athens, Greece-based Star Bulk Carriers Corp. (SBLK) has reported a loss of $48.8 million in its first quarter. The shipping company posted revenue of $46.3 million in the period. Petros Pappas, Chief Executive Officer of Star Bulk…
U.S. Federal Maritime Commission (FMC) Commissioner William P. Doyle issued a statement on the upcoming implementation of the SOLAS Convention’s verified gross mass (VGM) requirements: On Friday, June 24, 2016, I voted to allow the Port…
Ocean carriers achieved a six-month high for liner service reliability in May, according to Carrier Performance Insight, the online schedule reliability tool provided by Drewry Supply Chain Advisors. The on-time average of 76.0% for the 10 trades covered was a 4…