The new orders are the investment of Greek ship owners for the future, said Moussouroulis. Wang Qi, general manager of Shanghai Waigaoqiao Shipbuilding Co Ltd said Greece has become an important client of China’s shipbuilding enterprises. As one of China’s … Continue reading →
Shipments of diesel to Europe from the U.S. Gulf Coast are poised to decline over the next two weeks, a Bloomberg News survey showed. Traders will charter nine Medium Range tankers for loading to May 29, the average estimates of … Continue reading →
Chinese shipyards have powered ahead and now produce more ships than anybody else, but the business of shipbuilding is becoming increasingly difficult and profits harder to come by. Although still major players and the world’s biggest tanker producers, South Korean … Continue reading →
Germany is in the final stages of significantly reforming its maritime trade law. The reform bill has been approved by parliament and is set to enter into force in due course. Maritime trade law is codified in the Commercial Code. … Continue reading →
THE Port of Long Beach has posted a 12.5 per cent year-on-year container volume growth in April to 519,464 TEU. Import containers experienced a 13.5 per cent April increase to 264,337 TEU year on year while exports went up 14.5 … Continue reading →
THE Port of Hamburg maintained its container traffic volumes in the first three months of the year at 2.2 million TEU on par with same period in 2012, over half were attributed to Asian trade at 1.2 million TEU. Containerised … Continue reading →
West Texas Intermediate crude swung between gains and losses near the highest level in a week. Syrian government forces started an offensive against rebels, renewing concern that unrest could destabilize the Middle East. Futures fluctuated in New York after rising for a … Continue reading →
CHINA’S largest port operator, Shanghai International Port Group (SIPG), posted a 3.9 per cent year-on-year increase in April container volume to 2.83 million TEU with overall tonnage rising 6.2 per cent to 45.66 million tonnes, reports Xinhua. During the first … Continue reading →
The Baltic Dry Index, a gauge of costs to transport minerals and grains by sea, had the biggest weekly drop in six weeks, as demand for the two biggest vessels classes slowed. The index slid 4.9 percent to 841, the … Continue reading →
Rates for the largest oil tankers on the benchmark route fell for a third day on speculation too many ships competing for cargoes outweighed increased bookings. Charter costs for very large crude carriers hauling 2 million barrels of Middle East … Continue reading →
Low sulfur bunker fuel oil prices have increased on a shortage of fuel spec availabilities after the closure of Shell’s Harburg refinery, sources said. Due to the closure of Shell’s refinery and tight LSFO supplies from other sources, 380 CST … Continue reading →
On December 6th, the Brazilian Government had unveiled its long-awaited port reform package, under reference MP595, also named “Provisional Measure of the Ports” or “MP dos Portos”. The Government needed the MP595’s full 6-months validity period and had to work … Continue reading →
West Texas Intermediate crude advanced to a one-week high on signals that global economic growth will accelerate, bolstering fuel consumption. Futures increased 0.9 percent as the Thomson Reuters/University of Michigan preliminary indexof consumer sentiment rose to 83.7 in May, higher than … Continue reading →
The Cabinet on Thursday approved the proposal to allow Steel Authority of India (SAIL) and Rashtriya Ispat Nigam Limited (RINL) to undertake direct chartering of ships without going through the centralised chartering organisation under the Ministry of Shipping and Road … Continue reading →
This year, Brazilian crude oil production growth is expected to be around 110 thousand b/d, said London based Barclays in its recent market analysis. The bank expects a modest production growth in 2013. Part of this growth should be delivered … Continue reading →
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 →
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 →
