News
 
LPG Ship Rates
 

LPG Ship Rates Head for Biggest-Ever Weekly Gain on U.S. Cargoes


The cost of shipping liquefied petroleum gas headed for the biggest weekly gain on record as surging U.S. exports of the cooking fuel and chemicals feedstock sap vessel supply. Rates for very large gas carriers already jumped 24 percent to … Continue reading

Maersk
 

Maersk Line Posts Profit as Capacity Control Lifts Pricing


A.P. Moeller-Maersk A/S (MAERSKB) said its container-shipping line, the world’s largest, posted a first-quarter profit as freight rates picked up. Maersk Line’s net income totaled $204 million, compared with a loss of $599 million a year earlier, the Copenhagen-based group … Continue reading

panamax ship
 

Panamax coal freight rates to India pressured by oversupply of vessels


Panamax coal freight rates on established routes from South Africa’s Richards Bay and Indonesia to India ended the week stable to lower on Friday as an oversupply of vessels outstripped demand, sources said. Platts assessed the daily Panamax freight rates … Continue reading

mol managing executive officers_junichiro ikeda and takaaki inoue
 

MOL Completes Containership Collision Drills


Mitsui O.S.K. Lines, Ltd. (MOL) announced the completion of a tabletop drill done in cooperation with the fifth Regional Coast Guard Headquarters. The scenario entailed a containership operated by MOL Liner Division (Hong Kong) and managed by an MOL Group … Continue reading

ictsi
 

ICTSI SHORT-LISTED FOR MELBOURNE CONTAINER TERMINAL BID


International Container Terminal Services Inc (ICTSI) has been named among the short-list of bidders to build and operate Melbourne’s third international container terminal. ICTSI is partnering with Anglo Ports for the bid and together the two parties bring extensive sector … Continue reading

Chinese ship
 

Chinese ships have entered disputed-islands waters: Japan


Three Chinese government ships entered the waters of disputed islands today, Japan’s coastguard said, more than a year after the then-Tokyo governor set off the row by announcing plans to buy them. The Chinese maritime surveillance vessels were spotted off … Continue reading

Oil 2
 

Fuel Oil Rally to End With Europe Swamping Asia: Energy Markets


The premium traders in Asia are paying for the earliest deliveries of fuel oil is poised to slide from an eight-month high as Europe floods the region with excess supplies and Chinese refinery demand wanes. Deliveries to Singapore in June will … Continue reading

los Angeles port 1
 

Port of Los Angeles volume declines 9.5 per cent to 640,330 TEU in April


THE Port of Los Angeles April cargo volumes declined 9.5 per cent to 640,330 TEU compared to 707,182 TEU in the same month last year. Imports dropped 10.4 per cent from 364,555 TEU in April 2012 to 326,780 TEU this … Continue reading

Iron Ore Ship
 

Iron-Ore Ships Decline as China Uses Stocks Instead of Imports


Rates for iron-ore carriers fell for a sixth day on speculation Chinese steel mills are drawing on stockpiles instead of imports, according to RS Platou Markets AS, the investment-banking unit of Norway’s largest shipbroker. Daily earnings for Capesizes hauling 160,000 metric … Continue reading

li-louis-jolliet-lachance
 

Cruise ship runs aground near Île d’Orléans


A cruise ship ran aground Thursday near Sainte-Pétronille, at the south end of Île d’Orléans on the St. Lawrence River. There were 57 passengers on board, but no one was hurt. All were brought safely to shore by tugboat. The Louis-Jolliet … Continue reading

TEU 1
 

Hong Kong falls 12.2pc in April to 1.7 million TEU, Singapore up 1pc


FIGURES from the Hong Kong Marine Department show the port handled 1.7 million TEU in April, representing a year-on-year decline of 12.2 per cent from two million TEU in April last year. Singapore’s Maritime and Port Authority reported a one … Continue reading

tanker1
 

Oil-Tanker Rates Fall Most in Six Weeks as Demand Seen Stalling


Rates for the largest oil tankers on the benchmark trade route fell the most in six weeks on concern demand from refiners returning from maintenance stalled. Charter costs for very large crude carriers hauling 2 million barrels of Middle East oil to Asia … Continue reading

Hapag-Lloyd
 

Hapag-Lloyd to increase Asia-Europe rates US$1,000 per TEU July 1


GERMANY’s Hapag-Lloyd, the world’s sixth largest carrier, has announced it will increase the rates for westbound Asia-Europe trade by US$1,000 per TEU with effect from July 1. Additionally, the carrier plans to impose a peak-season surcharge of $500 per TEU … Continue reading

LNG
 

LNG Ship Rates Fall to Almost Two-Year Low as Price Gap Closes


Rates to ship liquefied natural gas fell to the lowest in almost two years as the opportunity to profit from shifting cargoes to Asia closed, curbing trading distances, according to Fearnley Securities AS. Daily earnings for modern turbine vessels slid 6.3 … Continue reading

Hamburg Sud
 

Hamburg Sud reports 16pc increase in 2012 revenue to US$6.17 billion


GERMANY’s Hamburg Sud, the world’s 12th biggest container shipping line, has declared a 2012 revenue increase of 16 per cent year on year to EUR4.8 billion (US$6.17 billion), but declined to reveal profit or loss figures. The company handled four … Continue reading

Chchin port
 

India:Cochin entity to become first govt shipyard to get listed


The global shipbuilding industry may not be in a good shape, but with business for Cochin Shipyard looking up, the government is likely to divest a 10 per cent stake in the company. This would be the first disinvestment in … Continue reading

opec
 

WTI Fluctuates After Gaining Most in Week; OPEC Exports May Rise


West Texas Intermediate crude swung between gains and losses after rising the most in a week. OPEC was forecast to increase oil exports this month to meet rising demand from Asian refiners. Futures fluctuated in New York, heading for the first … Continue reading

Iron Ore Ship
 

Iron Ore Ship Rates Extend Slump as Fleets Offsets China Demand


Rates to ship iron ore fell for a fifth day as the glut of vessels offset demand for imports to China, the largest buyer of the raw material used to make steel. Daily earnings for Capsizes carrying 160,000 metric tons … Continue reading

Hapag-Lloyd
 

Hapag-Lloyd nearly halves first quarter losses as revenues rise 3.1pc


GERMANY’s Hapag-Lloyd, the world’s sixth biggest container line, declared it nearly halved first quarter losses to EUR53.2 million year on year, drawn on revenues of EUR1.65 billion, up 3.1 per cent. “The result is in line with expectations for Q1, … Continue reading

tanker 5
 

Tanker Rates Slide as Vessel Glut Absorbs Higher Cargo Demand


The cost of shipping 2 million barrels of Middle East crude oil to Asia, the benchmark route, fell after 11 sessions of gains as a glut of tankers absorbed increased demand for cargoes. Rates for very large crude carriers on … Continue reading