A short-lived revival in rates still means rich pickings for shippers coming into the transpacific contracting season, but beware the capacity crunch to come. Shippers should not lose sleep over the recent, short-lived jump in spot rates…
SHIPPING is going to need a great deal of resilience to meet the challenges of the next twelve months, according to international accountant and shipping adviser, Moore Stephens. But, for those who can secure funding, there have been few better times to invest…
Drewry’s latest quarterly Container Forecaster highlights that 2012 will be another challenging year for liner operators. With question marks over the strength of global demand, delivery of big ships will continue to be a problem and carriers’…
Reuters reports that Hyundai Heavy Industries, the world's biggest shipbuilder, expects order growth to more than halve to 20 percent this year as the world economy continutes to sputter. The conservative outlook adds to recent order cancellations…
GPMH (Grand Port Maritime du Havre) has decided to freeze harbor dues for containerships, for the third consecutive year. This decision underlines GPMH’s will to offer its customers, the shipowners, an attractive pricing policy, in a hard economic environment…
Peak Performance Continues.In recognition of superior performance, the New York State Canal Corporation today announced top honors for the operators of canal facilities that provide outstanding service to patrons. Among the Canal honorees are: Best Lock…
TORM has entered into an agreement to sell two Kamsarmax bulk newbuilding contracts. The two vessels contracted in 2007 were scheduled for delivery in the fourth quarter of 2012 and the first quarter of 2013 respectively. The agreement has a…
EXMAR said that following the terms of the Asset Purchase Agreement, LLOG and EXMAR have reached an agreement in principle whereby LLOG will accelerate the payments due on the sale of the OPTI-EX. EXMAR will receive a lump sum consideration…
TBS International plc (NASDAQ: TBSI) has reached agreements with its bank lenders on terms to reduce its leverage and refresh its fleet. As part of these agreements, TBS and the syndicates led by Bank of America and DVB Group Merchant Bank have…
While the U.S. economy may be in the doldrums, smart U.S. companies are looking increasingly to exports to help their bottom lines. A major market for U.S. exports is Brazil. This article examines new market opportunities in the oil and gas…
Viking Moorings CEO Discusses 2012 Strategy Viking Moorings announced the appointment of Bill Bayliss as Group Chief Executive, heralding a significant restructuring of the company, which involved the co-existing shareholders. Bayliss, who is based at the company’s Aberdeen operations center…
$17.1 Million in New Cost-Reducing Shipbuilding R&D ProjectsThe Executive Control Board of the National Shipbuilding Research Program (NSRP) has awarded funding for five new research and development projects to continue the program’s mission to reduce the costs associated with U…
Kirby Corporation Announces Purchase of Three Coastwise Tank Barge and Tug Units; Purchased Seaboats, Inc. coastwise tank barge fleet consisting of three 80,000 barrel tank barge and tug units for $42.3 million in cash. Kirby Corporation has…
Returns for VLCCs fell for a third consectutive day to the lowest level in a month, as the supply of vessels exceeded cargo demand, according to a recent Bloomberg report. Daily income for VLCCs on the Saudi Arabia-to-Japan voyage declined 2…
Port Projects Awarded $62 Million in TIGER III Infrastructure Grants; Critical importance of connective infrastructure to America’s seaports recognized.U.S. Transportation Secretary Ray LaHood today announced that 46 transportation projects…
