Owners are rapidly laying up containerships as the market slows. The size of the idle fleet will get bigger while rates and profits slide, says Drewry Shipping Consultants Limited. The number of idle container vessels has gained momentum in November and hasjumped 52 percent from October…
Star Bulk Carriers has sold three vessels during the third quarter, a modern Supramax and two 90s built Panamax says Petros Pappas, Chief Executive Officer. Net sales proceeds for completed vessels sales were approximately $27.9 million in Q3 and we also received approximately $3…
A German ship Cornelia is being held in the Duluth Bay by U.S. authorities in Lake Superior for a fortnight, says local media. The U.S. Coastguard is investigating the German bulk carrier for alleged environmental violations. The 2001…
“The dry cargo markets have shown no signs of recovery during Q3. A lack of demand growth in combination with deliveries of new tonnage will make this the reality of the market for an extended period. Our Q3 result in dry cargo is as expected and a reflection of these market conditions…
Essar Shipping, one of India’s leading shipping companies, today said that it has won the prestigious Diamond Category Award for “Line of the Year (Dry Bulk)” at the recently held Samundra Manthan Awards 2015. The company was bestowed this…
ABS announced its participation in the World Shipping (China) Summit 2015, November 5-6, in Guangzhou, China, where ABS Senior Vice President and Chief Technology officer Howard Fireman spoke about changes in the global shipping industry.In…
Rickmers Group will migrate to multiband VSAT (Very Small Aperture Terminal) from Marlink Maritime VSAT for its fleet of 90+ vessels including containerships, bulk carriers and heavy lift vessels, in a move that aims to improve operational…
U.S. Coast Guard air crews medevac Ukrainian from bulk carrier 130 miles east of Cape Cod, Mass. A Ukrainian sailor in distress was medically evacuated by U.S. Coast Guard Crews Monday, 130 miles east of Cape Cod, Mass. Watchstanders…
Inchcape Shipping Services (ISS), the marine, cargo and supply chain solutions provider, said it is continuing its expansion program in the Black Sea region with the opening of a new office in Ukraine.Situated in Odessa, this new base is…
Shipping company NYK announced it has switched the coffee served inside its head office reception rooms to a brand carrying the International Fairtrade certification mark. More than 50,000 cups of coffee are served in the NYK head office reception rooms every year…
While, weak spot prices and higher futures prices created demand for oil tankers has boomed, bulk carriers have been hit by massive overcapacity, as Chinese demand for such commodities has collapsed, says latest report from the Economist. The…
Worse is still to come for many bulk carriers, warns a report in the Economist that claims that the dry-bulk cargo shipping has hit the bottom. Between the start of the financial crisis and January this year Baltic Dry Index - a measure of bulk freight rates—had fallen by 95%…
The annual Tripartite meeting between shipowners, shipbuilders and classification societies was held in Seoul, Republic of Korea on 16 and 17 October 2015. The meeting was attended by 100 high level representatives of the industry, including…
Marine, cargo and supply chain solutions provider Inchcape Shipping Services (ISS) has won a new contract with MSI Ship Management Pte Ltd to provide crew logistics services (CLS) across the globe.Under the new contract, MSI Ship Management will assign numerous vessels including bulk carriers…
Emco Wheaton, a manufacturer and supplier of equipment for liquid, gas and dry bulk products, has announced two additions to the Americas sales team with Holly Damude taking on the role of DRY-BREAK Product Specialist and Eric Rodriguez appointed as Territory Sales Manager…
