In the dry bulker business, the market is deteriorating to a new record low due to the imbalance of fleet supply and demand, along with stagnant cargo trade resulting from the slowdown in China’s economy since last fall, says Mitsui O.S.K. Lines…
The American Maritime Partnership (AMP), the voice of the domestic maritime industry, today released a statement in response to the sheer number of factual errors in the recent report published by the Alliance for Innovation and Infrastructure’s (Aii) – Jones Act: Protectionism v…
Chris Fisher, Port Director & CEO of the Port of Beaumont, announced that John Roby, Director of Corporate Affairs, plans to retire in early February 2016.Roby, 61, joined the port in 1979 after working in the media and advertising in Southeast Texas…
Shipments of iron ore on the Great Lakes and St. Lawrence Seaway totaled 2,158,254 tons in January, a decrease of 22 percent compared to a year ago. Loadings at U.S. ports were down 21 percent. Shipments from Canadian ports in the Seaway dipped 31 percent.
MSC Monica, Mediterranean Shipping Company container vessel, ran aground on the St. Lawrence River near Saint-Laurent, between Bécancour and Levis. The box ship left Montreal and headed down the river, but suffered steering gear failure…
The Port of Indiana-Mount Vernon set a new annual shipping record in 2015 by handling over 6.6 million tons for the first time in its 40-year history. This was a 36-percent increase over 2014 and 30 percent higher than the previous record set in 1994…
The global production of steel dropped in 2015 compared to 2014, to a larger extent outside China, as China exported its surplus of steel to destinations across the globe; it is too complex to single out whether this is positive or negative for the seaborne dry bulk transport demand…
Global commodities trader Cargill will close its London shipping office in another sign of the worsening crisis battering the dry freight market, the company said on Thursday. Financial markets have been in turmoil since the start of the year due to worries over the health of the world economy…
Capital Product Partners L.P. a Marshall Islands master limited partnership and an international owner of modern tanker, container and drybulk vessels today announced that its board of directors has declared a cash distribution of $0.2385 per…
The 175 million GT, ‘A’ rated North P&I Club has published a major new guide for the international shipping industry on how to reduce losses when carrying bulk cargoes by sea. The 280-page Bulk Cargoes: A Guide to Good Practice adds to North’s…
Investors suffered massive wealth erosion in 2015, as share prices of dry bulk companies kept tumbling during the year, says Drewry Maritime Equity Research (DMER). DMER’s shipping index, which is based on the market cap of leading dry bulk companies…
IRClass Academy, part of the Indian Register of Shipping, demonstrated its commitment to Maritime Professional Development by successfully delivering a new 4-day Executive Management Course in Ship Superintendency. The course featured in…
As a part of an ongoing portfolio restructuring exercise following booking of losses for three years in a row, Mercator Limited has decided to exit dry bulk business carried on by its arm Mercator Lines(Singapore) Ltd(MLS). Mercator has 11 bulkers in its fleet…
Tanker owners are currently doing fairly well, certainly compared to their colleagues in the dry bulk market, says a reserach report from Poten & Partners. However, history shows that such markets do not last forever and when the downturn comes…
Canada-based Algoma Central Corporation has signed a joint venture (JV) agreement with Nova Marine Holding of Luxembourg to establish a fleet of cement carriers to supply infrastructure projects across the globe. Algoma will own 50% of the joint venture…
