Dry bulk shipping company Diana Shipping and Wilhelmsen Ship Management (WSM) have joined forces in a new 50/50 joint venture named Diana Wilhelmsen Management Limited (DWM). DWM, to be based in Limassol, Cyprus, and will commence operations by the end of June…
Israeli container carrier ZIM is expanding its Asia – South America East Coast (SAEC) via the Suez Canal at the end of May.The new service, Asia – East Coast Brazil (AEC), a collaboration with the SSA group, will allow ZIM to offer a second weekly service on this trade…
Diana Shipping Inc. a global shipping company specializing in the ownership of dry bulk vessels, and Wilhelmsen Ship Management (“WSM”) today announced that they have established a new 50/50 joint venture named Diana Wilhelmsen Management Limited (“DWM”)…
Goldman Sachs can't see an end to the dry cargo downturn until at least 2020 on a glut of vessels and stalling cargo growth, says a report in Bloomberg. Overcapacity and low fuel prices are bound to keep low dry bulk shipping freight rates for the rest of the decade or even longer…
Monaco-based liquefied natural gas carrier owner GasLog has reported a sharp increase in profits in 1Q15, saying the sector's medium- to long-term outlook remains encouraging. Group net profits jumped to $13.8 million in 1Q15 from $6.4 million in the same period last year…
Heidmar and TBS Ocean are joining forces to form a dry bulk pool alliance. New alliance with TBS Ocean plan to combine two players’ operating strengths in geared bulker JV. TBS will continue as manager of a series of dry bulk pools, while Heidmar will provide its pool expertise…
Argentina soyoil shipments were slowed on Tuesday by the start of a wage strike by a union representing 20 percent of the country's crushing workers, while the powerful CGT dock-workers union debated whether to join work stoppage.Argentina…
UK- based shipping consultants Drewry said that it was only a matter of time before these carriers make the formal announcement that Hamburg Süd is to become a fully-fledged member of Ocean Three, or Ocean Four as it will presumably have to be re-named…
Baltic Trading Limited, a Marshall Islands company formed by Genco Shipping & Trading Limited, reported a loss of $42.4 million in its first quarter. The New York-based shipping company focused on the drybulk industry spot market said it had a loss of 75 cents per share…
Thomas Rayburn has joined Lake Carriers’ Association (LCA) in the newly created position of Director of Environmental and Regulatory Affairs. Prior to joining LCA, Rayburn was Program Manager for EnSafe Inc. Before that, he spent seven years with the Great Lakes Commission…
Suezmax tankers are looking good for a strong 2015 year, before posting a mild downside during 2016, but are poised to accelerate yet again in 2017 on rising deliveries, said shipbroker Charles R. Weber in its latest weekly report (Ref. Weekly…
BP Shipping celebrated its 100-year anniversary yesterday, making it the longest continually operating company in the group. Formed on April 30, 1915 as the British Tanker Company, the business has contributed to two world wars, the Great Depression…
A coalition of European shipping sector organisations, led by the European Community Association of Ship Brokers and Agents (ECASBA), has called on the European Parliament, Commission and Member States to honour the commitments to support…
UAE based Gulftainer, a terminal operating and logistics company, set a new record for the handling of the largest unloading and loading of a single vessel call at its Khorfakkan Container Terminal (KCT), at 19,561 TEUs (Twenty-foot equivalent unit)…
Argentina's main grains port of Rosario was paralyzed at midday on Wednesday by an open-ended wage strike by boat captains needed to help dock incoming cargo ships, the country's port management chamber said. At a busy time of the year for exporters…
