Off the coast of a nearly deserted island below the southern tip of Hong Kong, at least 10 massive ships that normally carry hundreds of thousands of tons of coal or iron ore lie idle near one of the world's busiest sea routes.These empty…
The dry bulk shipping sector has been dashed upon the rocks of vessel oversupply and slowing economic growth. Not dry bulk shipping business is grappling with an unprecedented crisis of too many ships and not enough cargoes, says a report in WSJ…
According to Clarkson Research Services, the record pace of fleet growth over the last decade and weakening global demand outlook has left many of the major shipping segments facing severe oversupply. Demolition of older ships is one way…
Diana Shipping has chartered the 73,630 dwt, 2004-built panamax, Protefs to Transgrain shipping for 12 – 16 months at a rate of $4,500 per day minus 5% commission. This employment is anticipated to generate approximately US$1.55 million…
Forth Ports Limited announced today that it plans to make the largest investment in the history of the Port of Dundee. The port owner is to invest more than £10 million to create a new quayside with an industry-leading “heavy lift” capability…
China COSCO Shipping Corp Ltd (COSCOCS), a new company formed by the restructuring of China's top two shipping firms, was officially established on Thursday (February 18). The Chairman Xu Lirong said his company,now the world's largest bulk vessel and oil tanker operator by fleet size…
The Department of Transportation and Communications (DOTC) has moved the bid submission for the Davao Sasa Port Modernization public-private partnership (PPP) project to March 28 from Feb. 26 to give interested firms more time to prepare their offers…
The cash-strapped Indian shipbuilder ABG Shipyard will likely close the deal for a 51 per cent stake sale by the end of this financial year, its managing director and CEO Syed Abdi said. Syed said the company had narrowed it down to one…
ATLAS Knowledge Group has reported robust financial results for 2014/15, with continued growth and further international expansion set to continue.A provider of learning, compliance and competency solutions to safety critical industries…
The Bomin Group, a physical supplier and trader of marine fuel oil, has announced the appointment of Shogo Miura, a new Business Development Manager in Japan. As the operation expands, Bomin is also moving to new offices in Tokyo. Miura…
Billionaire investor John Fredriksen's dry bulk shipping firm Golden Ocean plans to raise $200 million in fresh equity as it continues to face weak markets for its vessels, the company said on Thursday. Fredriksen's investment vehicle Hemen Holding…
Star Bulk Carriers Corp. a global shipping company focusing on the transportation of dry bulk cargoes, announced that it has entered into a Capesize vessel pooling agreement (“CCL”) with BOCIMAR INTERNATIONAL NV, GOLDEN OCEAN GROUP LIMITED and C TRANSPORT HOLDING LTD…
CMA CGM will increase rates US$900 per TEU from all Asian ports to the Mediterranean including the Black Sea and North Africa - and EUR800 (US$892.93) per TEU to Syria from March 1. The Frech shipping giant will also increase rates US$250…
The world’s largest container shipping company Maersk Line said that it will increase the rate from north Europe to west central Asia by US$100 per TEU, $150 per FEU and 40-foot high cube from March 1. This will apply to shipments from Finland…
The Greek privatization fund TAIPED formally accepted the binding bid submitted by Cosco Pacific for the majority stake in Piraeus Port Authority (OLP), while the port company’s stock posted a significant increase on the Athens bourse in response…
