Financially-troubled Japanese dry bulk specialist Daiichi Chuo Kisen Kaisha plans to halve its current long-distance shipping fleet, reports Nikkei. The debt-ridden shipowner under civil rehabilitation proceedings, also plans to improve profitability by updating charterage to shipowners…
Though Russian ports have seen a general decline in the number of containers handled, multimodal operator Ruscon reports it has seen its own numbers rise.Ruscon, a subsidiary of Russian container transport company Global Container Service (GCS)…
The Transportation Safety Board of Canada (TSB) is deploying a team to Trois-Rivières, Quebec, following the collision between the bulk carrier Desert Rhapsody and the tug Ocean Basque. The TSB will gather information and assess the occurrence…
The horrific explosions in the Chinese port of Tainjin illustrated vividly just how volatile port operations can be. But safety issues are only one facet of risk in the complex world of shipping ports.From piracy on the high seas to data thievery in port…
Sinotrans Shipping has ordered four new energy-saving containerships of 1,900 teu in capacity each at CSSC Huangpu Wenchong Shipbuilding Company for $98.2mln. The four newbuildings, each costing $24.55m, are scheduled to be delivered from the shipyard in May…
Rand Logistics, Inc., a provider of bulk freight shipping services throughout the Great Lakes region, today announced the appointment of Christopher J. Garwood to the position of Corporate Vice President of Procurement responsible for managing…
One of the first commercial applications of MAN Diesel & Turbo’s new MAN Alpha Kappel FP propeller took place off the coast of China recently when the vessel Elsabeth C, a 58,500-dwt Supramax bulk carrier owned by Frontmarine Co. Ltd – an affiliated and managed company of Lemissoler Navigation Co…
Sparking speculation that a recovery in commodities could be around the corner, the Baltic Dry Index, a measure of shipping costs for commodities, has risen 17.5 per cent since September 15, reports Business Standard. The indexis up 21 per cent at 943…
The VLCC market continued to strengthen this week with sentiment supported by both stronger demand and expectations for the October Middle East and West Africa programs to rise substantially from September levels, according to Charles R.Weber Weekly…
Jeremy Penn, chief executive of London's centuries old Baltic Exchange will step down next year, the exchange said on Friday.Penn, who took the helm as CEO in 2003 after previous top positions with international news agency Reuters, will leave next summer…
Liberian-flagged bulk carrier MV Victoria is reportedly stuck on a shoal off the west coast of Sweden with a 3-meter gash in its hull after running hard aground Saturday night. According to local reports, the 190-meter ship was en route from Rostock…
Wah Kwong Ship Management (HK) Limited will adopt DNV GL’s ShipManager integrated fleet management software suite to further improve operational efficiency, data transparency and safety reporting.Wah Kwong is a leading provider of maritime transport in the bulk carrier…
Belships has entered into a sale and leaseback agreement with a Japanese counterpart for the ship M / S Belforest. Belforest, 61,000 dwt Ultramax bulk carrier is currently under construction at Imabari Shipbuilding in Japan and will be delivered around 25 September 2015…
All stocks under Drewry Maritime Equity Research (DMER)’s dry bulk coverage were down and recorded double-digit negative returns, taking cues from vessel earnings. The BDI shed its gain of the previous two months and nudged down 20% m/m in August led by a fall in the Capesize index…
Even though the trend is negative, by about 10% in the last two weeks, the supramax average 6 TC routes still seems to be overpriced compared to what is being fixed on the spot market for short period and rounds, says Fearnley's weekly report…
