The beginning of 2017 found both the drybulk and containership markets recovering from the historical low levels observed during 2016, says Euroseas Chairman. Aristides Pittas, Chairman and CEO of Euroseas said that the drybulk market improved…
MOL Triumph, the first of the world’s largest and newest vessels to call in the UK, arrives in Southampton on THE Alliance's FE2 service as new third deep-water berth opened at London Gateway in April, ahead of first regular Asia-Europe service starting…
April cargo volumes surged 8.9 percent at the Port of Los Angeles compared to the same month last year. It was the best April in the port’s 110-year history. For the first four months of 2017, cargo has increased 10 percent compared to 2016…
South Korean shipyards emerged on top for new orders in April, Business Korea reported quoting industry data. The global total amount of new shipbuilding orders reached 750,000 CGT last month and 340,000 CGT and 260,000 CGT went to South Korean and Chinese shipbuilders…
Navios Maritime Partners, an international owner and operator of dry bulk and container vessels, announced on May 9 that it has agreed to acquire one 2011 South Korean-built Capesize vessel of 179,016 dwt for a purchase price of $31.05 million…
On a rainy day in May, 230 graduates at SUNY Maritime College’s commencement ceremony were encouraged to take risks, embrace failure and leave their comfort zones. Angeliki Frangou, chairman and CEO of the Navios Group, applauded the students for the leadership skills…
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, crawled up for the second straight session on higher rates for capesize vessels.The overall index, which factors in rates for capesize…
Eagle Bulk Shipping reported a loss of $11.1 million in its first quarter. It posted revenue of $45.9 million in the period.Gary Vogel, Eagle Bulk's CEO, commented, “During the first quarter, Eagle finalized the acquisition of 9 Crown-63 Ultramax…
Saqr Port, part of Rash Al Khaimah (RAK) Ports, has signed a contract with the Damen Shipyards Group for the delivery of an ASD 2913 tug. The vessel will be built a short distance away at Albwardy Damen in Sharjah and will be delivered in time…
Brazil may revise public port regulations to lengthen operators' contracts and encourage improvements, officials told Reuters, in an effort to attract more private investment in infrastructure that is crucial to the country's powerhouse farm sector…
In the face of a global grain glut that is crushing profits and raising questions about long-term prospects for the world's big grain merchants, the companies maintain they need only a drought or other supply shock to return to the riches of the past…
Shipments of iron ore on the Great Lakes and St. Lawrence Seaway totaled 5.8 million tons in April, an increase of 8.8 percent compared to a year ago, the Lake Carriers’ Association (LCA) reported. Shipments topped the month’s five-year average by nearly 21 percent…
FSL Trust Management (FSLTM), as trustee-manager of First Ship Lease Trust (FSL Trust), reported a net profit of $3.4 million for the three months ended March 31, 2017, compared to $2.3 million reported in 1QFY16. This positive result was achieved despite challenging industry conditions and a 17…
Golden Ocean Group Limited has taken delivery of dry bulk vessel Q Kennedy, to be renamed Golden Kennedy. The vessel is the third of 16 dry bulk vessels recently acquired by Golden Ocean in an all-share transaction where the company will issue in aggregate 17…
Egypt, traditionally a rice exporter, has contracted to purchase 20,000 tonnes of Indian rice, a cabinet statement said on Wednesday. The government statement did not explain why it had contracted to buy the rice. But in December, the government…
