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dry bulk2
 

Why the dry bulk shipping industry is weakening


The dry bulk shipping industry Dry bulk shipping refers to the transportation of homogenous bulk cargoes by bulk vessels on an irregular scheduled line. Numerous factors like world economic growth and commodity supply and demand affect the industry. For example, the … Continue reading

 
Oil Caps Fifth Weekly Loss on Global Supply Glut Concern
 

Oil Caps Fifth Weekly Loss on Global Supply Glut Concern


Oil fell, capping a fifth weekly loss on concern that OPEC’s refusal to cut production will worsen a global supply glut. Brent and West Texas Intermediate extended their annual declines of more than 40 percent, the biggest since 2008, as … Continue reading

 
skuld
 

Insurer Sculd warns low-sulphur rule enforcement will be rigorous in US


ALL indications are that the new low-sulphur fuel regulations that kick in January 1 will be strictly enforced and that there will be continuous lobbying on the governments and enforcement agencies for rigorous policing, warns a leading marine insurer. “Members … Continue reading

 
boxship1
 

Global boxship schedule reliability reaches highest level in 2014


As global schedule reliability increased for the third consecutive month to 76 per cent in November from 74.4 per cent in October, it also marked the highest performance recorded in 2014. Global schedule reliability in November was based on more … Continue reading

 
msc_6252010
 

MSC: Customers accept low-sulphur fuel surcharges as they see eco benefits


THE Mediterranean Shipping Co (MSC) says most of its customers are accepting low-sulphur fuel surcharges levied to cover the added cost of fuel in emission control areas (ECA) of North America, English Channel, the North and Baltic seas from January … Continue reading

 
Baltic Dry Index
 

Why the Baltic Dry Index dipped in November


The Baltic Dry Index measures the price of transporting dry bulk by sea. The Baltic Exchange Dry Bulk Index (BDIY) is a composite of rates for different ship sizes factoring in the average daily earnings of Capesize, Panamax, Supramax, and … Continue reading

 
West Bengal for Sagar Island port
 

Govt announces INR 12K cr. aid to West Bengal for Sagar Island port, infra projects


The Union government has announced an aid of Rs 12,000 crore for the deep-sea port at Sagar Island and various infrastructure projects in West Bengal, official sources said. Speaking at a seminar organised by the Indian Chamber of Commerce here … Continue reading

 
US Gulf Coast Crude
 

Crude price drop triggers major layoffs in US oil industry


Thousands of recently highly paid workers have been laid off after the oil price plummeted 50 percent in 2014. At least four American oil-producing states are already facing budget problems due to decreasing oil revenues. The price plunge has affected … Continue reading

 
crude steel
 

India Crude Steel production grows at 7% CAGR annually


India’s capacity for crude steel production expanded from about 75 million tonnes per annum (mtpa) in 2009-10 to about 101.02 mtpa in 2013-14, according to an year-end review by Ministry of Steel. Crude steel production grew at 7% annually (CAGR) … Continue reading

 
Crude oil 1
 

It will cost half for India to build and raise strategic crude oil reserves, must take advantage: ASSOCHAM


It would take just about half in building strategic crude oil reserves throwing a tempting opportunity for India to increase the storage capacity by raising investment multi-fold in physical infrastructure besides signing forward contract with the exporting countries, an ASSOCHAM … Continue reading

 
3 dead after cargo ship sinks off Japan
 

3 dead after cargo ship sinks off Japan


Three foreign crew members are dead after a group of 10 sailors abandoned a sinking cargo ship off Japan’s northern coast. The two Chinese and one Myanmar nationals were among a group of sailors plucked from chilly waters in the … Continue reading

 
Intertanko
 

INTERTANKO applies low-sulphur fuel surcharge in emission control areas


GIVEN the tighter low sulphur fuel requirements from January 1 and “increasingly onerous regulations”, the International Association of Independent Tanker Owners (INTERTANKO) has produced a bunker surcharge clause. “This is unavoidable given the major bunker cost differential in trading in … Continue reading

 
Panama Canal construction
 

ACP Receives $740 mln in Cost Overrun Claims


A dispute between the canal and the consortium over cost overruns temporarily halted work on the expansion earlier this year and arguments over the project are now being heard in an arbitration court in Miami. The consortium, Grupo Unidos por … Continue reading

 
Gujarat Pipavav
 

India: Gujarat Pipavav setting up RoRo automobile yard at Pipavav Port


In a bid to expand its services portfolio, APM Terminals-operated Gujarat Pipavav Port (GPP) along with NYK Auto Logistics (India) is setting up a dedicated automobile yard at Pipavav Port. Under the arrangement, NYK Auto Logistics (India) has been sub-leased … Continue reading

 
Libya's biggest port
 

Oil near $60 amid fighting around Libya’s biggest port


Brent oil traded near $60 on concern that the Organization of Petroleum Exporting Countries (Opec)’s refusal to cut production will worsen a global glut and as Libyan fighting intensified. Trading was less than one-third of the 100-day average. Brent and … Continue reading

 
shipping in Asia unclear
 

Asian imports of Iran crude rise above 1 million bpd in November


Asian imports of Iranian crude climbed above 1 million barrels per day (bpd) in November, after dropping to a one-year trough below that level in the previous month, as higher seasonal demand during winter boosted purchases. Arrivals of Iranian crude over January to November … Continue reading

 
crude oil
 

India will gain from OPEC’s face off against Shale: CRISIL


Excess global supply, weak demand growth and OPEC’s unwillingness to cut production despite glut is expected to result in sharp fall of 25-30 per cent y-o-y in crude oil prices in 2015. This along with recent deregulation of diesel prices … Continue reading

 
SAIL’s coking coal
 

India President gives nod for ordinances on Coal, Insurance


Indian President PranabMukherjee signed two major ordinances on Friday. The president signed ordinance on raising FDI in insurance sector and facilitating e-auction of coal blocks. India last week passed the Coal Mines bill at Lok Sabha amid stiff resistance from … Continue reading

 
webPoshXanadu40-37702
 

New Generation SSAV Delivered to PACC Offshore


POSH Xanadu, the first of a new generation of DP3 Semisubmersible Accommodation Vessels (SSAV) for PACC Offshore Services Holdings Limited (POSH), was delivered to Singapore on December 22, 2014, directly embarking on her maiden contract in Brazil with Petrobras for … Continue reading

 
China's iron ore
 

China iron ore concentrates: Prices fall 3% on year-end stocks clearing


Chinese domestic iron ore concentrate prices softened for the second week by another Yuan 20/dry mt ($3.2/dmt), or 3%, from the previous week as local miners attempted to sell some of their stocks before the end of the year, market … Continue reading

 
Reliance signs shipping
 

India’s Reliance signs shipping agreement for ethane imports


India’s Reliance Industries Ltd on Wednesday said it had signed a long-term shipping agreement with Japan’s Mitsui OSK Lines Ltd (MOL) to transport liquefied ethane that Reliance will import from North America. MOL will supervise the construction of six very … Continue reading

 
Port of Varna
 

Bulgaria: Port of Varna to post modest cargo throughput increase in 2015


We are predicting modest cargo throughput at the port of Varna in 2015. Growth in tonnage will be slower relative to last year, reflecting a general deceleration of Bulgaria’s foreign trade growth. Box traffic growth will also be subdued, but … Continue reading

 
Low-sulphur ee
 

MSC: Customers accept low-sulphur fuel surcharges as they see eco benefits


THE Mediterranean Shipping Co (MSC) says most of its customers are accepting low-sulphur fuel surcharges levied to cover the added cost of fuel in emission control areas (ECA) of North America, English Channel, the North and Baltic seas from January … Continue reading

 
US Supreme Court rules
 

US Supreme Court rules workers need not be paid for security screening time


THE US Supreme Court has ruled unananimously that workers cannot claim compensation from their employer for time spent at security screening – a half hour a day – exacted by Integrity Staffing Solutions in Nevada, a warehouse contractor to Amazon.com. … Continue reading

 
 
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