The Baltic Exchange is looking into launching freight indexes for grains and liquefied natural gas (LNG) as the London-run business targets new markets after its acquisition by Singapore Exchange last year, the Baltic's chief executive said…
Sinochem Shipping Co.Ltd. has signed a long-term agreement with Seagull Maritime to deliver earning on board its entire fleet of chemical tankers.Sinochem will start with a selected library of e-learning modules and reflective learning films for their fleet…
With an average age of 23.8 years, the fleet of very large ore carriers (VLOC) converted from very large crude carriers (VLCC) is vintage compared to the average age of 5.7 years for non-converted ore carriers above 200,000 DWT, according to BIMCO…
Dorian LPG Ltd., owner and operator of very large gas carriers (VLGC), said it has entered into a $97 million bridge loan agreement with DNB Capital LLC. The proceeds of the Bridge Loan were used to repay the remaining outstanding debt of $98…
Abu Dhabi port authorities have eased restrictions on oil tankers going to and from Qatar, according to industry sources and shipping circulars seen by Reuters on Wednesday.Abu Dhabi Petroleum Ports Authority issued a new circular on Wednesday removing previous restrictions on non-Qatar owned…
Ports in Saudi Arabia and the United Arab Emirates' barred ships flying Qatari flags after the two countries broke off diplomatic ties with Doha, in a move that raised fears of disruption to oil and gas shipments from the Gulf OPEC member. The…
Teekay Tankers has agreed to acquire all the remaining issued and outstanding shares of Tanker Investments (TIL), in a share-for-share merger at an exchange ratio of 3.30 Teekay Tankers Class A common shares for each TIL common share. Teekay Tankers currently owns 3…
South Korea's Sungdong Shipbuilding won an order for seven mid-sized tankers, including two as an option, from a Greek shipowner, reported Korea Economic Daily. It has been more than one year that the Korean mid-sized shipyard to receive a newbuilding contract…
Russia's June Urals crude exports from the Baltic Sea ports are expected to fall by 15 percent compared with May on a daily basis to 5.51 million tonnes, a preliminary loading plan seen by Reuters showed on Thursday.Crude loadings from the port of Primorsk were set to fall by 30 percent to 2…
Gulf-based bidders have emerged for the part-owned subsidiary of United Arab Shipping Company (UASC) whose sale is key to finalising the merger between UASC and German container shipping line Hapag Lloyd , sources close to the matter said. Last week…
Oman Shipping Company (OSC) has officially set up a new commercial chartering desk offering its Very Large Crude Carrier (VLCCs) to major traders and charterers covering VLCC routes worldwide. OSC, one of the biggest ship owners in the MENA region…
DryShips Inc, a diversified owner of ocean going cargo vessels, announced that it has taken delivery of the previously announced 115,666 deadweight tons Aframax tanker built in 2012, which will be employed in the spot market. 'Since the commencement of our acquisition program…
Greece-based Tsakos Energy Navigation (TEN) said that its 15-vessel newbuilding program is nearing completion with the final three aframax tankers expected to be delivered in the coming months. In the second half of the year, with all…
The beginning of 2017 found both the drybulk and containership markets recovering from the historical low levels observed during 2016, says Euroseas Chairman. Aristides Pittas, Chairman and CEO of Euroseas said that the drybulk market improved…
Recovery in the crude tanker shipping market is not expected until 2020 as weak trade growth and a bloated orderbook limit any rate recovery. But the timing of any market upturn will be heavily influenced by the level of scrapping, according to the latest edition of the Tanker Forecaster…
