The dry bulk market could become profitable again in 2019 – but only if a series of extremely tough and sustained measures are taken by shipowners, year on year. 2016 has to be the turning point in addressing the fundamental imbalance of the dry bulk market…
Ahead of the Panama Canal expansion two alliances have announced they will upsize some of their ships on the Asia-US East Coast route. How quickly will the others follow? Drewry Maritime Research takes a look: The 9,400-teu Cosco containership…
Oscar Spieler-led LNG shipowner Golar LNG Ltd. (GLNG) on Tuesday reported a loss of $80.1 million in its first quarter. The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 41 cents per share…
“Scrapping ships and no new builds is the fastest road to recovery for the dry bulk market”BIMCO President Philippe Louis-Dreyfus comments on BIMCO’s latest market analysis:The dry bulk market could become profitable again in 2019 – but…
Earlier this month, BigLift Shipping’s Happy Dynamic successfully transported two 560 mt Siwertell Continuous Ship Unloaders (CSUs) from Chioggia, Italy, to Liverpool, UK.The CSUs are 35 m high and 24 m wide and, when in service, have a discharge capacity of 1…
Singapore Shipping Corporation(SSC)'s net profit increased 7.8 per cent to US$9.6 million for the financial year ended March 31, 2016, compared to the previous year. Revenue rose 29.4 per cent to US$44.9 million, compared with the same period a year earlier…
Around 200 seafarers with Shipping Corporation of India (SCI), the country's largest shipping company, are on a hunger strike (industrial action) since Saturday over wages and arrears. According to a Press Trust of India report, these seafarers…
Elektrans Group announced the promotion of Capt. Deepak Arora to Managing Director of Elektrans Shipping Pvt. Ltd. Capt Arora has been with the Elektrans Group for 4 years during which he has served in several executive positions within Elektrans…
Oman Shipping Company (OSC) reported a $180 million profit in 2015. Tariq bin Mohammed Al Junaidi, chief executive officer of OSC has been quoted by Oman News Agency saying that achieving significant profit came as a result of the good performance…
DP World has reached an agreement to manage the Berbera port in Somaliland, which would allow it to become a major hub for goods to transit to and from the Horn of Africa, the Wall Street Journal reported. DP World signed a US$442 million…
Abu Dhabi Ports - the master developer, operator and manager of ports and Khalifa Industrial Zone in the Emirate - presented the integrated offerings of Khalifa Port and Kizad at an exclusive business event in Abu Dhabi. Organised by Abu…
The latest Gibson Market Report focused on the age profile of the VLCC fleet and the prospects for trading life beyond 15 years of age. Analysis of the Suezmax fleet shows a similar picture, with eighty-nine units over15 years of age (18%…
DSC Dredge, LLC, based in Reserve, La., has received the 2016 President’s “E-Star” Award for exports. In a ceremony held on May 16, 2016, at the U.S. Department of Commerce’s headquarters in Washington, D.C., Department of Commerce Secretary Penny Pritzker said…
Norwegian liner Siem Shipping Inc. has won a one-year contract renewal for a regular weekly service from Ecuador to St. Petersburg, Russia. The contract extension for the service covers seven reefer vessels. The service, which employs seven vessel…
Israeli ocean carrier ZIM Integrated Shipping Services Ltd. (ZIM) has sunk to the red in the first quarter of 2016 after staying in the black for almost a year. ZIM swung to a $56 million net loss in the first quarter from a $12 million…