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…
Overall confidence levels and the likelihood of major new investments in the shipping industry in the next 12 months picked up marginally in the quarter ended November 2011, according to the latest Shipping Confidence Survey from leading accountant and shipping adviser Moore Stephens…
According to a report from Bloomberg, the number of container ships idled rose to the highest level in 18 months as the supply of vessels expanded and trade growth slowed, citing information from Alphaliner.According to the report, 210 ships with a combined carrying capacity of 526…
A new publication from the UK P&I Club “How to prevent tanker cargo shortage claims” and subtitled “The cause of claims and how to avoid them during pre-loading, loading and unloading” focuses on one of the major sources of cargo-related claims in the tanker sector…
The Department of the Interior’s Bureau of Ocean Energy Management announced that its Western Gulf of Mexico Oil and Gas Lease Sale 218, held today in New Orleans, attracted $337,688,341 in high bids and included 20 companies submitting 241…
Investment Averages $1.4 Million Per Vessel Maintaining and Modernizing U.S.-Flag Lakers Will Keep Great Lakes Shipyards Busy This Winter. More than 1,200 boilermakers, welders, electricians and other skilled craftsmen will be hard at work this winter maintaining and modernizing U…
Hyundai Merchant Marine Secures US$500 million debt facility from banks led by DNB. South Korean shipping group Hyundai Merchant Marine (HMM) has secured a USD500 million debt facility from a syndicate of financial institutions led by DNB Bank…
Half of all index-linked contracts filed with the US Federal Maritime Commission reference Drewry’s Container Freight Rate Insight pricing benchmarks. Drewry Maritime Research’s container freight rate benchmarks are the index of choice in index-linked container contracts…
AGENCY: Maritime Administration, DOT / ACTION: Notice of Small Shipyard Grant Program.SUMMARY: This notice announces the intention of the Maritime Administration to provide grants for small shipyards. Catalog of Federal Domestic Assistance Number: 20…
Saxo Bank and ICAP Shipping Involved in World's First Electronic Container Freight Swap Settled in USD. Saxo Bank, the trading and investment specialist, and ICAP Shipping, the shipping arm of ICAP plc, announced on Thursday that they were…
Horizon Lines Stockholders Approve 1-for-25 Reverse Stock Split at Special Stockholder Meeting. Horizon Lines, Inc. (OTCQB: HRZL) announced that stockholders at the company's special stockholders meeting on December 2, 2011, voted to approve…
Aker Solutions announced at the company's capital markets day that it is maintaining its ambition of 9-15 percent annual revenue growth for the period 2011-15 due to a favorable market outlook for the oil services industry. The company also…
The European Union unveiled new rules for assessing aid to the bloc's shipbuilding sector on Wednesday, hailing the reform as intended to help foster innovation in an industry facing tough global competition, according to a Reuters report. The…
Aker Solutions will today announce at the company's capital markets day that it is maintaining its ambition of 9-15 percent annual revenue growth for the period 2011-15 due to a favourable market outlook for the oil services industry. The company…
