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VLCC freight
 

Asia Tankers-VLCC rates to climb on cargo flurry


Rates for very large crude carriers (VLCCs) on key Asian routes are set to continue the rebound that started on Wednesday with a raft of new cargo requirements and upbeat sentiment, brokers said. Brokers anticipated charterers would ramp up the … Continue reading

 
Hyundai heavy
 

Hyundai Heavy Sees First Strike in 18 Years


Unionised workers at South Korea’s shipbuilding giant Hyundai Heavy Industries staged their first industrial action in almost two decades this Thursday when they walked out from a scheduled one hour of extra work after their regular eight-hour shift, the AFP reports. … Continue reading

 
moore stephens logo
 

Shipping operating costs stable, investments on rise: Moore Stephens


The cost of operating ships last year marginally declined for bulkers and containers and rose slightly for tankers as owners have worked to cap costs amid eroding earnings since 2008, a shipping industry study said. Consultancy Moore Stephens International said … Continue reading

 
coal shipment
 

Gulf Coast Embraces U.S. Coal Shippers Rejected by West


When it comes to exporting American coal, the West Coast’s loss is the Gulf Coast’s gain. While environmental opposition has stymied plans to build terminals in California and the Pacific Northwest, the Mississippi River town of Darrow, Louisiana, has a … Continue reading

 
Asia-Europe container
 

Asia-Europe Shanghai box rate fell 13.3pc last week to US$809/TEU


THE Shanghai Containerised Freight Index (SCFI) fell 13.3 per cent on Friday from the previous week to US$809 per TEU on the Asia-Europe route, suffering a third straight week of declines, each more than $100. “The number of times the … Continue reading

 
jaye container colombo
 

Port of Colombo handles first 16,000-TEUer – 16,650-TEU MSC New York


SRI LANKA’s Port of Colombo has welcomed its first mega box ship when Mediterranean Shipping Company’s newbuilding, the 16,650 TEU MSC New York, berthed at Colombo International Container Terminals (CICT). The terminal operator said it aims to attract more ships … Continue reading

 
LNG carrier
 

Europe to suck up surplus global LNG supplies as prices tumble


Europe is set to become a dumping ground for the world’s unwanted gas supplies this winter as Asian demand for sea-borne shipments fizzles out, leaving dealers to seek out willing buyers at rock bottom prices. Caught in a sharp downward … Continue reading

 
Oil prices higher in Asian trade
 

Come 2015, crude oil prices may slide again


Crude oil prices may slide again to test a new low of $60 (Dh220.20) per barrel levels in the middle of next year on expectations before rising in the early part of the year as a likely removal of curbs … Continue reading

 
Crude oil 1
 

Expect a 0.5mn b/d Crude oil ceiling cut at OPEC meet: BoFA Merrill Lynch


Saudi has been trying out higher volume and lower prices for a while, and that means a 0.5 mn b/d ceiling cut next week in Vienna in the OPEC meet, according to BoFA Merrill Lynch. This announcement will support prices … Continue reading

 
LNG
 

Global LNG-Prices slide as Australia, Nigeria offer fresh supply


Asian spot liquefied natural gas (LNG) prices extended losses this week as demand in December and January flat-lined, which is likely to have reduced interest for two sell tenders by Australia and Nigeria. Spot LNG prices LNG-AS for January delivery … Continue reading

 
Ship Polar Waters
 

IMO adopts mandatory Code for Ships Operating in Polar Waters


The International Maritime Organization (IMO) has adopted the International Code for Ships Operating in Polar Waters (Polar Code), and related amendments to the International Convention for the Safety of Life at Sea (SOLAS) to make it mandatory, marking an historic … Continue reading

 
7 Rescued
 

7 Rescued from Sinking Freighter Near Haiti


Seven crewmembers were rescued after their 100-foot coastal freighter began taking on water and sank approximately 45 miles north off of Cap Haitien, Haiti, Friday. Watchstanders at the Coast Guard 7th District command center in Miami received a report from … Continue reading

 
worldscale
 

Worldscale rates for Brazil’s Belem to rise: Worldscale Association


Worldscale rates for loading and discharging in Belem, Brazil have been raised, the Worldscale Association said Friday. “In light of recent information regarding the introduction of compulsory towage the Associations find it necessary to revise all rates involving loading or … Continue reading

 
G6 Alliance
 

G6 Alliance announces Pacific Atlantic Service adjustment


Members of the G6 Alliance today announced an adjustment to one of its Pacific Atlantic services in response to seasonal changes in market demand.   The Pacific Atlantic 2 (PA2) service will temporarily stop calling European ports, and instead turn … Continue reading

 
BW Offshore
 

BW Offshore Q3 profits up


BW Offshore has reported an increase in profit from $17.7m to $40.4m in the third quarter as utilisation and rates remained high. The Q3 profit rise continues a good for first nine months where earnings were up to $174.5m, up … Continue reading

 
South Carolina ports
 

South Carolina Ports Authority October container volume up 17pc


THE South Carolina Ports Authority (SCPA) has posted a 17 per cent year-on-year container volume increase to 164,672 TEU in October, representing a 14 per cent rise fiscal year to date. “October volume increased 19 per cent over the same … Continue reading

 
Chinese Ships Mineral Ban
 

India Sep Minerals production sees 0.7% growth


The index of mineral production of India mining and quarrying sector for the month of September (new Series 2004-05=100) 2014 at 116.0, was 0.7% higher as compared to September 2013. The cumulative growth for the period April-September 2014-15 over the … Continue reading

 
OPEC Crud
 

Confused OPEC Watchers Are More Divided Than Ever


To understand just how contentious next week’s OPEC meeting will be, take a look at the confusion it’s created among professionals paid to predict the outcome. The 20 analysts surveyed this week by Bloomberg are perfectly divided, with half forecasting … Continue reading

 
shell Na
 

Shell launches Naturelle S4 Stern Tube Fluid 100 to meet revised US EPA regulations


Shell has launched its new range of Environmentally Acceptable Lubricants (EALs), including Shell Naturelle S4 Stern Tube Fluid 100. The Shell Naturelle range of products enables ships entering US waters to comply with the revised 2013 Vessel General Permit (VGP). … Continue reading

 
Port of Antwerp
 

Eddy Bruyninckx receives Lifetime Achievement Award


Eddy Bruyninckx, CEO of Antwerp Port Authority, was presented with a Lifetime Achievement Award on Monday at a ceremony in Rotterdam. The distinction forms part of the IBJ Awards which are presented annually by the International Bulk Journal. The Award … Continue reading

 
bimcologo
 

BIMCO: The fall in bunker prices reduce fuel costs significantly


For a ship that burns 24 tonnes of fuel per day while steaming, fuel costs will be reduced by as much as USD 1 million a year if current price levels stay put. Assuming a difference from the average of the first … Continue reading

 
UNCTAD
 

World seaborne trade grew by just 3.8% in 2013, new report reveals


Reflecting stumbling growth in the world economy, world seaborne shipments grew by an average of just 3.8 per cent in 2013, taking total volumes to nearly 9.6 billion tons, UNCTAD’s Review of Maritime Transport 20141 reports. Much of the expansion … Continue reading

 
ITF
 

Seafarer and docker union leaders warn EC over Euro ports plans


A meeting of key ITF (International Transport Workers’ Federation)  member union decision makers in London issued a strong warning to the European Commission (EC) today over the future of the continent’s ports.   Docker and seafarer trade union leaders meeting … Continue reading

 
MSC
 

MSC puts back congestion surcharge despite shipper and regulator objections


AFTER withdrawing its west coast congestion surcharge – as other shipping lines have done – the Mediterranean Shipping Co (MSC) now tells customers it will be collected from November 26 at US$800 per TEU, $1,000 per FEU and $1,125 per … Continue reading

 
 
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