Overall confidence levels in the shipping industry fell in the three months ended August 2012 to their lowest level for a year, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens…
Iron-Ore carrier daily rates rebound as China spends US$158-billion.Iron-ore ships are poised to earn more than operating costs for the first time this year as rates rally on speculation Chinese steel mills will accelerate imports because of a 1 trillion-yuan ($158 billion) building program…
COSCO Corporation (Singapore) announce deliveries of three bulk ships from its shipyards in China.Subsidiaries of the Company’s 51% owned COSCO Shipyard Group Co., Ltd have made the following deliveries:COSCO (Zhoushan) Shipyard Co.…
In recent years, excess vessel capacity has been plaguing shipping markets and the resultant drop in asset values has restrained financing options for ship owners. Following the financial crisis in 2008, demand across the major shipping segments – dry bulk…
Brazil's mining giant Vale sells 10 VLOCs for US$600-million to Turkey’s Polaris Shipping.The Brazilian company said that the transaction would improve cash flow while still maintaining its maritime ore shipping capacity. The ships will be chartered back to Vale…
Jiangsu New Yangzijiang Shipbuilding has been contracted to build four 82,000 dwt bulk carrier orders for Hong Kong owner Everbright Metal.Each ship will have a length of 229 m (751 ft) breadth of 32.26 m (106 ft) and draft of 14.45 m (47…
COSCO Corporation (Singapore) Limited announce deliveries from its Chinese subsidiary Dalian & Guandong shipyards.COSCO (Dalian) Shipyard Co., Ltd has delivered one bulk carrier, “SIBERIA EXPRESS”, of 92500 DWT, measuring 229.165 meters in LOA…
Sub-Capesize sectors, previously better performers than Capes, now face an equally uncertain future according to recent Drewry analysis.Demand for Panamax ships improved over the 2nd quarter 2012, primarily due to an increase in grain volumes and Asian coal imports…
Mozambiquan port city of Nacala (SE coast of Africa) is undergoing rapid change and development that will impact on Nampula province and the country in general.Plans include the slated development by Brazilian mining giant Vale to build a new coal terminal at Nacala-a-Velha…
A Singapore stock exhange error was at first suspected as shares in STX Pan Ocean Co. plunged 64%.The Singapore Exchange said there was no trading error behind the recent 64 percent plunge by shares of STX Pan Ocean Co. (STX), South Korea’s biggest dry-bulk carrier…
US Coast Guard responds to grounding of 1000-ft long freighter hard aground in downbound channel of St. Mary's River. The vessel is carrying approximately 62,000 tons of coal. The motor vessel Paul R. Tregurtha, owned by Interlake Shipping Company of Ohio…
Much has been heard, said and read regarding the advent of Slow Steaming in the global maritime industry. But in reality, how prevalent is the practice? MAN PrimeServ set out recently to find some answers.Being a market leader with the lion’s…
SEAS Act to Repeal Section 100124 of Highway Bill.U.S. Representatives Elijah E. Cummings (D, MD-07) and Jeff Landry (R, LA-03) today introduced the Saving Essential American Sailors (SEAS) Act, H.R. 6170, which would ensure American food aid is transported by American workers…
Diana Shipping Inc. (NYSE:DSX), a global shipping company specializing in the ownership and operation of dry bulk vessels, has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement, to acquire a new-building Post-Panamax dry bulk carrier of 98…
Sean Connaughton, Secretary of Transportation for the Commonwealth of Virginia, oversees seven state agencies with more than 9,700 employees and combined annual budgets of $5 billion. But this transportation professional is perhaps best known to MarineNews readers as the U…
