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bimcologo
 

BIMCO urges IMO to reduce red tape for the shipping industry


BIMCO has today announced its support for a report identifying ways to reduce red tape for shipping which will be presented to the International Maritime Organization (IMO) next week in London. The report comes from the Ad Hoc Steering Group … Continue reading

 
Strike Club
 

There is No Let-Up in Disturbances to Global Shipping Operations, Warns The Strike Club


The Strike Club, the market leader in the niche area of delay insurance for the marine trades, reports rising claims levels and warns that the claims climate has worsened considerably. This reflects the many geopolitical challenges and tensions, particularly in … Continue reading

 
ZPMC Cranes
 

ZPMC Cranes : Four Units on Way to DP World Terminal at JNPT


Despite two Indian terminals reportedly being denied “security clearance” to purchase ZPMC cranes, four new units are on the water for delivery to DP World’s terminal in Jawaharlal Nehru. The four cranes are due to arrive at the end of … Continue reading

 
Singapore 380 CST HSFO0
 

Singapore ex-wharf 380 CST Dec bunker fuel contracts concluded at $6-8/mt


Singapore 380 CST December bunker fuel contracts, on an ex-wharf basis, have been concluded at premiums of around $6-8/mt, to the Mean of Platts Singapore 380 CST high sulfur fuel oil assessments, market sources said this week. This compared with … Continue reading

 
ITF
 

Workers speak out on World AIDS Day


HIV positive workers from ITF (International Transport Workers’ Federation) trade unions are among those speaking out on World AIDS Day on Monday 1 December. All are involved in ITF programmes to challenge HIV/AIDS – and the stigma that surrounds it … Continue reading

 
Mexican Salt Exporter
 

Mexican Salt Exporter Shows Bold Environmental Leadership


State-controlled Exportadora de Sal SA de CV of Mexico (“ESSA”), one of the world’s largest salt exporters with a 10-million-ton annual production, has strengthened its commitment to the continued protection of its operating environment with the signing of a recent … Continue reading

 
Transfennica
 

Transfennica changes Iberian strategy


Transfennica has decided to cease its “Motorways of the Sea” Ro-Ro service between Bilbao, Portsmouth and Zeebrugge by the end of December 2014. The route started in September 2007 and saw a steady increase in volumes and results. Due to … Continue reading

 
APM1
 

APM Terminals Inland Services Introduces Improved RFID Technology in Mumbai Yard


APM Terminals Inland Services South Asia has launched an improved Radio-Frequency Identification (RFID) application loaded onto computer tablets which provide access to real-time container location data, significantly improving operational efficiency. The application was inaugurated on November 5th by Reach Stacker … Continue reading

 
Berth 7
 

ICTSI expands MICT yard capacity


International Container Terminal Services, Inc. (ICTSI) has expanded yard capacity at its flagship Manila International Container Terminal (MICT) with the recent completion of Phase 1 of it’s Berth 7 yard development by deploying 4 hectares of new yard space (shown … Continue reading

 
Indian power plants
 

Thermal coal stocks at Indian power plants slip 34.4% on-year: CEA


Combined thermal coal stocks at 103 Indian power plants fell 34.4% on the year to 10.95 million mt Wednesday, enough supply for seven days of coal burn, according to data released by India’s Central Electricity Authority Friday. However, this week … Continue reading

 
Shipping Corp may exit container
 

India to renew exemption granted to vessel sharing pacts of container lines


containerIndia is set to renew the exemption granted to vessel sharing agreements (VSAs) among container shipping lines from the provisions of the country’s antitrust law. The initial exemption given for a one-year period ends on 10 December. A meeting held … Continue reading

 
VLCC freight
 

East of Suez VLCC rates hit more than 9-month high on surge in demand


Suez VLCC Worldscale rates for VLCCs on the East of Suez routes have reached more than nine-month highs, on strong demand to move crude in the winter season, tight supply as charterers combine smaller cargoes and bullish owner sentiment, market … Continue reading

 
Nordlb a
 

NordLB Holds Ship Provisions Stable as Slump Drags Into 2015


Norddeutsche Landesbank, Germany’s second biggest financier of ships, held provisions at its marine division stable in the first nine months of 2014 as an industry slump enters its seventh year. The state-owned bank based in Hanover, Germany, set aside 474 … Continue reading

 
Rotterdam LSFO to HSFO bunker
 

HSFO Rotterdam Dec/Jan barges flip into backwardation on open arbitrage


The HSFO Rotterdam barge swap market flipped into backwardation Wednesday, which widened during mid-day trading on Thursday, due to an open arbitrage to Asia, sources said. The 3.5% FOB Rotterdam barge December/January swap moved 50 cents/mt higher, moving from a … Continue reading

 
Shipping Industry Works to Reduce Greenhouse Carbon Emissions
 

EU to force ships to post CO2 emissions to save world from global warming


SHIPS touching European Union shores will be obliged to record carbon dioxide emissions under a new law to help save the world from global warming, about which there is growing scepticism. Greece, Cyprus, Malta and Poland, the home of smaller … Continue reading

 
pirate ransoms
 

Insurers in a quandary over cover for payment of pirate ransoms


IN the wake of UK Home Secretary Theresa May’s announcement that insurance cover for terrorism ransoms will shortly be banned, marine insurers are seeking clarification over future general average or kidnap and ransom policy payments to secure the release of … Continue reading

 
PORT of Rotterdam
 

Port tariffs Rotterdam focus on growth and further market recovery


The port tariffs will rise in the coming three years at half the rate of the inflation percentage, by a maximum of 1% per year. For 2015 this means specifically that the tariffs paid by seagoing ships calling at the … Continue reading

 
Vale Iron Ore
 

Iron-Ore Giant Vale Sees Rebound as Glut Squeezes Mines


Iron-ore prices are poised to rebound from five-year lows as Asian infrastructure demand improves and high-cost mines close, according to the top producer Vale SA. (VALE) The steelmaking raw material, which has slumped 49 percent this year to $68.49 a … Continue reading

 
OPEC Crud
 

OPEC Takes No Action to Ease Supply Glut as Oil Slumps


OPECOPEC took no action to ease a global oil-supply glut, resisting calls from Venezuela that the group needs to stem the rout in prices. Futures slumped to the lowest level since 2010. The group maintained its collective production ceiling of … Continue reading

 
U.S. condensate exports
 

South Korea’s October product exports rise 16% to 21-month high


exportSouth Korea’s exports of refined oil products rose 16% year on year by volume in October, the biggest increase in 21 months. However, many of the sales were done on a spot basis, at lower prices than in previous months, … Continue reading

 
SCI tanker
 

India: Shipping still in doldrums


The shore is still not in sight for shipping companies. Sure, there is an improvement in some operating measures. For instance, the Baltic Dry Index (BDI), which tracks transport costs on international trade routes for dry bulk commodities such as … Continue reading

 
bimcologo
 

BIMCO to develop standard term sheet for ship finance


BIMCO has now announced its intention to develop a standard term sheet to assist the shipping industry in the creation of ship financing documentation. The aim of developing this document would be to offer lenders and borrowers a comprehensive and … Continue reading

 
jay-new-ceo-of-international-port-services-company-ips
 

Saudi Maritime Congress applauds $30 billion Saudi investment


Saudi Arabia is experiencing exponential growth in its ports and shipping sectors, particularly in relation to the number of mega infrastructural land and sea projects planned and currently in progress, totaling more than US$ 30 billion within the government’s current … Continue reading

 
West Africa
 

West Africa is down, but not out from Ebola given its resilient box volumes


CONTAINER volumes in and out of West Africa are still strong and are expected to stay that way despite a 30 per cent drop in exports after being hit the hardest by the outbreak of the Ebola virus. The Ebola … Continue reading

 
 
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