The Shipping Corporation of India’s (SCI) Worldwide Agents' Meet 2016 held on March 2nd, 2016 drew 88 agents from across the world to participate in the Meet. There were representatives from Far East, Indian Subcontinent, Persian Gulf, Western Europe…
Volatile markets currently prevent Danish shipping firm Torm from going through with a planned stock market listing in the United States, but the company still aims to do so later this year, it said on Thursday. 'Right now, it doesn't seem like the most obvious time to go through with this (a U…
The positive trend of increasing freight volumes has continued and during 2015 six percent more freight was transported via the Port of Kapellskär than in 2014.Freight volumes at the Port of Kapellskär increased by six percent in 2015 compared to the figures for the previous year…
Members of the Singapore Shipping Association (SSA) have read with interest the recent announcement by the Singapore Exchange Ltd (SGX) in its bid to acquire the Baltic Exchange. Mr Esben Poulsson, President of SSA said: “We understand that for some time…
Team Tankers International (TTI) completed the acquisition of the ‘Sichem Amethyst’ and ‘Sichem Contester’, previously on timecharter in the Q4 2015. In addition, two of the company's older and smaller ships were sold. To continue to build up its European regional stainless steel fleet…
Every year around this time, the International Energy Agency (IEA) publishes their Medium Term Oil Market Report. The report includes the customary oil supply and demand forecasts and refinery dynamics. 'Most interesting for us in the…
Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Juinchiro Ikeda) today announced plans to establish two new business units — the Dry Bulk Business Unit and the Energy Transport Business Unit and restructure its dry bulk business divisions — effective April 1…
Tanker shipping freight rates are expected to remain firm in the first few months of 2016, but with the influx of tonnage these rates are expected to soften towards the end of the year, according to the latest edition of the Tanker Forecaster…
In recent days, tankers chartered by several European companies such as Total, Litasco, and Cepsa were monitored loading crude at Kharg Island, a major Iranian loading port, according to Genscape. The vessels are bound for European destinations…
According to a weekly update from the U.S. Energy Information Administration (EIA), an oversupply of European distillates is raising the amount of product being held in floating storage, and also causing changes to shipping routes to slow delivery to the continent…
The tanker company Norstar is setting up a new Commercial Management joint venture based in Westport Connecticut USA named Norstar Chartering (USA) LLC. The new entity is a collaboration between brothers Chris and Tom Bonehill, principals…
JHW has ordered five 85,000 m3 Very Large Ethane Carriers (VLECs) for a JACCAR/Hartmann Reederei joint venture, called UEC (United Ethane Carriers); each vessel will be powered by a single MAN B&W 6G60ME-GI main engine. Dalian Shipbuilding Industry Offshore Co…
1983-built chemical tanker Nusantara Akbar (built 1983) went down off Dumai in Indonesian waters of the Malacca Strait on Saturday after taking on water. The 107-meter-long vessel, which reportedly suffered a leak in its engine room, started taking on water and subsequently sank…
The owner of a harbor tanker has been fined £3,000 with more than £7,000 costs after pleading guilty to a charge of operating a vessel for being dangerously unsafe. Joseph O’Connor was fined at the hearing in Southampton Magistrates Court…
Bibby Ship Management is once again the largest representative for vessels flying the Isle of Man flag in providing representative services for 30% of vessel tonnage registered on the island. This compares with 25% in 2014, according to official statistics…
