Overall confidence levels in the shipping industry fell in the three months ended August 2012 to their lowest level for a year, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens…
In recent years, excess vessel capacity has been plaguing shipping markets and the resultant drop in asset values has restrained financing options for ship owners. Following the financial crisis in 2008, demand across the major shipping segments – dry bulk…
Owners of Very Large Crude Carriers (VLCC) by agreeing to current low rates are effectively paying shippers for the priviledge.Hire costs for the largest oil tankers are so low and the oversupply of the vessels is so acute that shipowners are paying to carry crude for clients…
In a letter to shareholders Nordic American Tankers Limited Chairman & CEO pointed (amongst other things) to the fleet's fuel-saving measures.Herbjorn Hansson, company Chairman & CEO stated:NAT has made, and is continuing to make, important…
Nordic American Tankers Limited CEO briefs shareholders on market conditions and invites input.Dear Shareholder, I would like to update you on developments in the company and in our industry. Conditions remain challenging in the tanker business…
On June 27, I testified on behalf of the American Maritime Partnership (AMP) before the House Coast Guard and Maritime Transportation Subcommittee at a hearing that questioned the Administration’s skirting of the Jones Act during last summer’s Strategic Petroleum Reserve (SPR) drawdown…
Crowley Maritime purchases two new 'Jones Act' tankers from Aker Philadelphia Shipyard.Crowley Maritime Corporation’s petroleum and chemical transportation group announce that it has purchased two new Jones Act tankers, the Pennsylvania and the Florida…
Saudi Arabia's National Shipping Company of Saudi Arabia (BAHRI) & National Chemical Carriers Company Ltd. (NCC) ink long term charter deal.The National Shipping Company of Saudi Arabia (BAHRI) announces that its 80% owned subsidiary The National Chemical Carriers Company Ltd…
A surplus of tankships seeking Persian Gulf cargoes curbs earlier charter rate increases.There are 20 percent more very large crude carriers for hire over the next 30 days than there are cargoes, according to the median estimate of seven shipbrokers and owners (TANKER) surveyed by Bloomberg News…
Subj: ALTERNATE PRESSURE RELIEF VALVE SETTINGS ON VESSELS CARRYING LIQUEFIED GASES IN BULK IN INDEPENDENT TYPE B AND TYPE C TANKS. Ref: (a) International Code for the Construction and Equipment of Ships Carrying LiquefiedGases in Bulk…
Scorpio Tankers sign letter of intent with Hyundai Mipo Dockyard for two tankships.New York-listed Scorpio Tankers has signed a letter of intent with Korea's Hyundai Mipo Dockyard for two additional fuel-efficient newbuild vessels at a purchase price of $34…
National Chemical Carriers receive new chemical tanker 'NCC Najeem' from the SHINAsb Shipyard in S. Korea.National Chemical Carriers Ltd. Co. (NCC) of Saudi Arabia, a subsidiary of The National Shipping Company of Saudi Arabia (BAHRI) announce…
Losses widen for oil tankers hauling 2-million barrel crude cargoes on the industry's benchmark routeAccording to Bloomberg, VLCC's on the Saudi Arabia-to-Japan voyage are losing $5,529 a day, according to data accessed by Bloomberg from the Baltic Exchange in London…
Much has been heard, said and read regarding the advent of Slow Steaming in the global maritime industry. But in reality, how prevalent is the practice? MAN PrimeServ set out recently to find some answers.Being a market leader with the lion’s…
Asia-bound fuel-oil cargoes from Western countries in August rise to 3.44-million tonsFuel-oil shipments to Asia from Western countries for August delivery rose from a week earlier to 3.44 million metric tons, according to vessel-charter data and information from traders compiled by Bloomberg…
