The demand for container shipping is really not going anywhere at the moment. Indicators for growth in the first months of 2016 point to limited overall demand and huge variations from trade to trade. In addition, all numbers are impacted by Chinese New Year…
On 10 February 2016, the Baltic Dry Index (BDI) hit 290. At that point, a bulk carrier regardless of its size, age and fuel-efficient qualities earned a time charter average of USD 2,417-2,776 per day. Whereas the three smaller segments have seen higher earnings since then…
Supported by slow fleet growth and ongoing positive refinery margins, VLCC earnings in Q1-2016 were up from a year ago, but down from Q4-2015 as we expected at $58,367 per day for VLCC (+5.7% year on year). For the minor crude oil carriers…
The South Korea government plans to drop its forceful measures to push ailing local shipbuilders to merge with each other as mergers or additional cash outlays to Hyundai Heavy Industries (HHI), Samsung Heavy Industries (SHI) and Daewoo Shipbuilding…
Singapore-listed ship repair, marine engineering and dry bulk shipping company COSCO Corporation (Singapore) Limited has recorded a net loss of USD 11.7 million in the first quarter of 2016, compared to a net profit of USD 4.2 million in the corresponding quarter of 2015…
A raging Canadian wildfire grew explosively on Saturday as hot, dry winds pushed the blaze across the energy heartland of Alberta and threatened to burn close to an oil sands project.The fire that has already prompted the evacuation of all 88…
The 24 fishing boats rusting in the harbour of Mozambique's capital were meant to be a modern tuna fleet that would rake in hard currency, create jobs and provide a cheap source of protein for one of the world's poorest countries.Instead…
The Coast Guard, Trenton Fire Dept. and New Jersey State Police Dept. are searching Saturday for a missing jet skier near the Trenton boat ramp.Missing is Jesus Diaz Melendez, 26, of Trenton, New Jersey.The crew of the vessel A.J. Meerwald…
Matthew Campbell assumes the position of Vice President, Marketing & Product Management of AdvanTec Global Innovations. He assumes responsibility for marketing, and the development and growth of all brands within the marine products portfolio…
Yilport Holding acquired 100% shares of Gävle Container Terminal (GCT) and Baltic Sea Gateway (BSG). The signing ceremony took place in Gävle, Sweden on 2 May 2016. The 30+10 year concession signed with Gävle Municipality awards Yilport Holding…
Seventeen people were missing after a Chinese fishing boat collided with a Maltese cargo ship and sank in the East China Sea on Saturday, state media reported, citing the country's coastguard fleet.The fishing boat, Lu Rong Yu 58398, had 19 people on board when the incident happened at 3…
The Coast Guard is searching for a person that reportedly fell from the Causeway Bridge on Lake Pontchartrain, Friday. Coast Guard Sector New Orleans watchstanders were notified of a Hispanic male wearing a dark shirt and jeans, who reportedly…
The International Maritime Solid Bulk Cargoes (IMSBC) Code deals with the hazards associated with certain cargoes carried in bulk by ships. IMO recently (25-28 April) co-organised a workshop in Malaysia on implementing the code, with special…
Scorpio Tankers Inc. announced it has received a commitment from NIBC Bank N.V. for a loan facility of up to $44 million.The loan facility, subject to customary conditions precedent and the execution of definitive documentation, will be…
Directorate General of Shipping will issue guidelines for the Safety of Life at Sea Convention (SOLAS) convention on container weight verification next week, said Deepak Shetty, Director General of Shipping, Government of India yesterday in Mumbai…
