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The big fight for port cargo
 

India: Government weighs levying cess on port cargo to fund Sagar Mala project


The shipping ministry has flagged off a plan to levy a cess on cargo handled at ports to part-fund a so-called Sagar Mala project, emulating the cess on petrol and diesel collected by the government for over a decade to … Continue reading

 
NOL 1
 

NOL reduces year-to-date Core EBIT loss


NOL Group today reported a third quarter 2014 net loss of US$23 million. Year-to-date, the Group reported Core EBIT (Earnings Before Interest, Taxes and Non-Recurring Items) loss of US$59 million, a 31% reduction from the same period last year. Singapore-based … Continue reading

 
strike Costa Rica port
 

Dockers strike over APMT’s concession at Costa Rica port


THE awarding of the 33-year concession to APM Terminals, the terminal operating arm of Maersk, to build and operate Costa Rica’s new US$1 billion Moin Container Terminal (MCT) has sparked wildcat strikes. Last Thursday, the port was forced to halt … Continue reading

 
SCI
 

SCI looks to shipping markets in Singapore, Vietnam, Thailand


THE Shipping Corporation of India (SCI) is seeking to expand coastal shipping and the transshipment of goods to strengthen trade with Singapore, Vietnam and Thailand, as part of India’s Look East Policy.’ “The Look East Policy hopes to boost trade … Continue reading

 
APM1
 

APM Terminals Inland Services, South Asia organizes CSR initiatives under ‘I – Care’


APM Terminals Inland Services, South Asia continues to rollout its “I- Care” CSR master plan to help local communities in India improve their quality of life. Eye and Vision Care camps were established to help improve the lives of people … Continue reading

 
OPEC Crud
 

OPEC Boosts Oil Output as Prices Slide to Four-Year Low


OPEC countries boosted oil output to a 14-month high in October as crude futures sank into a bear market, a Bloomberg survey showed yesterday. Production by the 12-member Organization of Petroleum Exporting Countries climbed by 53,000 barrels a day to … Continue reading

 
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ClassNK Registered Al Kout Delivered to KOTC


Leading classification society ClassNK (Chairman and President: Noboru Ueda) announced that it has completed work on the 165,178GT VLCC Al Kout, built by Daewoo Shipbuilding & Marine Engineering Co., Ltd. (DSME) as part of a series of vessels constructed for … Continue reading

 
Univan
 

Univan Wins Ship Manager of the Year at the Lloyd’s List Asia Awards 2014


Univan, the first name in shipmanagement, has been named as the Ship Manager of the Year at the Lloyd’s List Asia Awards 2014 at a gala dinner and ceremony in Singapore. “I would like to dedicate this award to our … Continue reading

 
gas
 

High East/West spread prompts Persian Gulf importers to seek NWE gasoline: sources


The wide premium of 92 RON Singapore gasoline cargoes to FOB Northwest Europe Eurobob gasoline barges — the East/West spread — prompted typically short Persian Gulf gasoline importers to seek barrels from NWE as the Asian market remained tight and … Continue reading

 
LNG
 

Asian buyers line up for Mozambican LNG with new deals


Countries across Asia are quietly reaching deals to import liquefied natural gas (LNG) from Mozambique, which could transform its economy and give it a front-row seat in tapping rising global gas demand. The unannounced agreements, five in total, show how … Continue reading

 
capesize
 

Asia Dry Bulk -Capesize rates to climb further after hitting six-month high


Rates for capesize bulk carriers on key Asian routes could hold steady or climb higher next week after surging to their highest level in more than six months on strong chartering activity from iron ore miners, including Vale and Rio … Continue reading

 
Handysize vessels
 

Black Sea-Med clean Handysize freight rates at six-year high on heavy cargo flow


Black Sea-Mediterranean Handysize freight rates, basis 30,000 mt, have hit a six-year high on the back of a rise in the number of cargoes in the market and weather delays from storms in the Black Sea, shipping sources said. Rates … Continue reading

 
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Oil Rout Seen Diluting Price Appeal of U.S. LNG Exports


Oil’s collapse is eroding the appeal of potential U.S. LNG exports to Asia as it cuts the cost of competing supplies linked to the price of crude. Brent’s 22 percent drop this year outpaced the 8.9 percent decline in natural … Continue reading

 
India's rice exports to Africa slow down
 

Ebola: India’s rice exports to Africa slow down


The growing scare over Ebola outbreak may slash India’s Rice export to Africa. As per reports India traders have declined import orders from African nations. Last week Thailand’s shipping operators expressed their fear for going to Africa. The slowing down … Continue reading

 
exmar
 

Exmar third quarter results 2014


The Executive Committee of EXMAR NV has reviewed the results for the third quarter of 2014. Highlights of recent developments are: Capital gain of USD 9.2 million on the sale of the FLANDERS HARMONY (LPG 1993 built – 85,000m3)  WAREGEM (LPG … Continue reading

 
ClassNK 1
 

ClassNK launches Feasibility Study for Marine Renewable Energy Testing Facility in Singapore


Leading classification society ClassNK (Chairman and President: Noboru Ueda) has announced the launch of a new feasibility study for a new marine renewable energy testing facility to be built in Singapore. The announcement was made at the 2014 Asian Clean … Continue reading

 
propulsion dynamics
 

Teekay renews contract for CASPER® service


Canada-based shipping company Teekay Corporation has renewed its contract with Propulsion Dynamics for its hull and propeller performance monitoring system CASPER Service. The Computerized Analysis of Ship PERformance (CASPER® Service) from Propulsion Dynamics is a turnkey subscription service that provides … Continue reading

 
MPHRP
 

Release of Mv Asphalt Venture Seafarers Welcomed By MPHRP


The Maritime Piracy Humanitarian Response Programme (MPHRP) has welcomed the news that seven Indian Seafarers who have been held hostage since their ship, the MV Asphalt Venture, was hijacked in the Somali Basin on 28 September 2010 have been released … Continue reading

 
oil prices sink
 

Biggest oil price forecast cut since financial crisis


Consumers can expect at least another two years of low oil prices, a Reuters poll showed on Thursday, recording its biggest downgrade to forecasts since the global economic crisis. Oil prices have dropped by a quarter since June, taking benchmark … Continue reading

 
cygnus-2-hands-free
 

Working to maintain much of the UK’s infrastructure


In 2014 alone, Amey PLC have purchased a large number of Cygnus 2 Hands Free ultrasonic thickness gauges to maintain much of the UK’s infrastructure that people rely on every day. Cygnus Instruments Ltd are the leading manufacturer of multiple … Continue reading

 
PM
 

India: PM docks into Ganga riverside ports idea


The reform-minded Narendra Modi government is considering riverside ports at major cities and industrial clusters on the Ganga to boost its ‘Make in India’ initiative. Converting waterways into commerce way is now a priority for the government, a senior official … Continue reading

 
Shanghai 380 CST bunker fuel
 

Singapore ex-wharf 500 CST bunker fuel Nov discounts weaken to $8-9/mt


Singapore ex-wharf 500 CST bunker fuel term contracts for November have been concluded at discounts of around $8-9/mt to the Mean of Platts Singapore 380 CST high sulfur fuel oil assessments, market sources said Wednesday. Discounts in October were around … Continue reading

 
9192014Ebola-Virus-400x300
 

ANALYSIS: How is the Ebola crisis impacting oil shipping?


* Stringent measures imposed at West African ports * Quarantine clauses added to charter agreements * Little impact on Nigerian, Angolan crude exports * New logistical challenges for product trading As the deadly outbreak of the Ebola virus, which has … Continue reading

 
Seatrade Middle East Maritime
 

Gulf countries investing heavily in ports to accommodate larger ships and changing trade patterns


Gulf region’s ambitious expansion strategy will aim to capitalise on 4.5% forecasted 2014 growth in global trade and the economies of scale presented by bigger ships and alliances says experts at Seatrade conference The Middle East is investing heavily in … Continue reading

 
 
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