Global trade enabler DP World is to launch an international education programme, focusing on trade and logistics to help ensure the future growth of the sector and knowledge of its vital role in providing employment and developing national economies…
In general, the International Union of Marine Insurance (IUMI) welcomes the revised York-Antwerp Rules (YAR 2016) which were adopted by the Comité Maritime International (CMI) at its conference in New York last week.The York-Antwerp Rules…
Negative interest rates are hurting shipping industry by delaying the consolidation wave so badly needed, Bloomberg reports quoting Nils Smedegaard Andersen, chief executive officer of AP Moeller-Maersk. He said that the monetary policy…
PSA International Pte Ltd today announced the inception of PSA unboXed Pte Ltd (PSA unboXed), its new corporate venture capital arm with an initial fund size of S$20 million.Through its incubator program, PSA unboXed seeks to invest in and…
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…
A 48-hour strike by the Seamen’s Union in Greece is expected to affect all domestic and local ferry routes as well as commercial vessels calling at Piraeus, Aspropyrgos, Eleusis, Pachi and Megara ports for cargo discharging, advises Inchcape Shipping Services (ISS)…
Shipping company CMA CGM announced the inauguration of its new agency in San Juan, Puerto Rico as from May 1, 2016. The agency is opened in partnership with shipping agency Norton Lilly.
Today Mitsubishi Heavy Industries America, Inc. (MHIA), a Group company overseeing the business of Mitsubishi Heavy Industries, Ltd. (MHI) in North America, commenced full-scale operations at its newly relocated Head Office in Houston, Texas…
Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) today teamed up with a local partner in Indonesia, PT Pelindo Energi Logistik (PEL; President Director: Denny Hermanto) to launch joint operation of the LNG carrier Triputra,…
Drewry forecasts dry bulk freight rates in 2016 will be, on average, lower than in 2015, as the medium-to-long term fundamentals for dry bulk shipping will remain challenging, according to the latest edition of the Dry Bulk Forecaster report published by global shipping consultancy Drewry…
S. Korea’s Pan Ocean Co. is expected to see its earnings improve amid rising Baltic Dry Index (BDI) that affects spot contracts accounting for more than half of the South Korean bulk carrier’s total shipping contracts, reports the Pulse. It…
The U.S. Coast Guard announced last week that state-calibrated scales already in use at the Port of Savannah meet a new requirement of the international Safety of Life at Sea (SOLAS) Convention.“We would like to commend the U.S. Coast Guard for bringing clarity to the SOLAS issue…
Maritime and logistics service provider Inchcape Shipping Services (ISS) announced the appointment of Frank Olsen as Vice President, Ship & Crew Solutions. Based in Oslo, Olsen will aim to drive the growth and strategic development of ISS’ Ship & Crew Solutions…
