Over the past decade, at least 100 seafarers have lost their lives due to incidents which have been attributed to bulk cargoes liquefying at sea. UK P&I Club Senior Claims Director Alan Speed looks at the dangers of cargo liquefaction and the steps members can take to mitigate the risk…
North P&I Club has advised its members to be extra vigilant during loading and transport of soya beans to ensure they do not get blamed for cargoes that start ‘cooking’ at sea. The advices comes in the latest issue of its loss prevention newsletter Signals…
The Port of Los Angeles has released an Initial Study/Notice of Preparation (IS/NOP) — the first step in the Environmental Impact Report (EIR) process — for a Marine Oil Terminal Wharf Improvements Project at the Valero Terminal on Mormon Island in Los Angeles Harbor…
Safe Bulkers, Inc., an international provider of marine drybulk transportation services, has agreed with the Royal Bank of Scotland plc (RBS) to amend certain financial covenants and terms to an existing term loan facility with an outstanding balance of US $73…
Wallenius Wilhelmsen Logistics’ (WWL) has added MV Themis, fourth Neo-Panamax class vessel, to its fleet. 50% of the company’s newbuilding order now complete. Like her sister vessels, Theben, Thalatta and Thermopylae, Themis is almost 200 metres long…
Safe Bulkers, Inc., an international provider of marine drybulk transportation services, has announced that the company has agreed with Danish Ship Finance, to amend certain financial covenants and terms to its existing credit facility with an outstanding balance of US $40…
The Cargo Shipping Market is estimated to gain momentum after fiscal year 2018 after years of sluggish growth. Cargo Shipping Market is projected to reach 12.52 Billion Tons at CAGR of 3.5% from 2016 to 2021. According to report Cargo Shipping Market - Global Trends and Forecast to 2021…
2015 saw further growth in total Group entered tonnage, which increased from 1,047 billion GT as at August 2014 to 1,088 billion GT as at August 2015, says annual review of International Group P&I Clubs (IGP&I) published by Gard on July 14…
The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a Secondhand Capesize Dry Bulk Carrier “Jag Anand” (2011 built) of about 179,250 dwt. The company had contracted to buy the vessel in June 2016. With the inclusion of the vessel…
Korean shipowner ILSHIN and HMD (Hyundai Mipo Dockyard Co., Ltd.) have signed a shipbuilding contract for a 50,000 dwt bulk carrier.Notably, the vessel will be powered by an MAN B&W 6G50ME-C9.5-GI engine, to be built by HHI-EMD who will also supply the ME-GI and fuel gas supply system…
Ruscon is integrating its terminal operations close to the Black Sea port of Novorossiysk in order to increase the efficiency of the operation.Ruscon’s Novorossiysk and Yug terminals have been co-operating and using shared software since…
Global oil and shipping markets reacted nervously on Tuesday after an international arbitration court ruled against Beijing's claims across large swathes of the South China Sea, fuelling geopolitical tensions in the vital waterway. A tribunal in The Hague…
With implied volatility in the Capesize sector being historically higher than that of the Panamax, this note observes and highlights their behavioral patterns (via the spread) after an expiry, says Freight Investor Services. Current Capesize Q4 implied volatility is at 103…
The newly established Association of Bulk Terminal Operators (ABTO) has been formed to provide the world’s bulk terminals with a united front at governmental level to ensure the sector can better face the environmental and commercial challenges ahead…
With profit before tax of DKK 480 million, Middelfart-based Selfinvest, which includes the global Group A/S United Shipping & Trading Company (USTC), is yet again filing an impressive set of financial statements. This was generated via record results in several of USTC’s subsidiaries…
