Author Archives: admin

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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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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ClassNK Issues World’s First EEDI Certification for Air Lubrication System Fitted Vessel

Leading classification society (Chairman and President: Noboru Ueda) has  completed the EEDI appraisal of Harvest Frost, the world’s first post-panamax bulk  carrier fitted with the Mitsubishi Air Lubrication System (MALS). The Harvest Frost was constructed by Oshima Shipbuilding Co., Ltd. for … Continue reading

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Rosoboronexport to Put on Display Whole Range of Naval Equipment in Paris and Carry on Dialog with European Partners

Rosoboronexport, subsidiary of the Rostec State Corporation, will present at Euronaval 2014 – to take place in Paris on October 27-30, 2014 – Russian naval products highly desired in the world market. “We are planning to discuss with our partners … Continue reading

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CIMC profit soars 66pc in first nine months of 2014 as revenues rise 20pc

SHENZHEN’s China International Marine Containers (CIMC), the world’s biggest box maker, posted a 66 per cent year-on-year net profit increase to US$265 million, drawn on revenues of $8 billion, up 20.3 per cent. Hong Kong-listed CMIC reported a 38 per … Continue reading

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India: Coal imports likely to rise by 20% in FY16

India’s coal import is set to go up significantly in the next financial year, with the estimate for 2015-16 at 220-240 million tonnes, against the current year’s projected import of 185-190 mt. In 2011-12, it was a little over 100 … Continue reading

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OPEC unable to rebalance oil markets, price to be the leveller: PIRA Energy

NYC-based PIRA Energy Group believes that cyclical strengthening is currently underway in the global economy with the U.S. in a better position to support global growth. In the U.S., stock excess modestly widens. In Japan, crude runs ease, but crude … Continue reading

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West African crude exports to Asia to rise in November

West African crude oil exports to Asia are set to rise to 1.84 million barrels per day (bpd) in November from 1.72 million bpd planned for October, a Reuters survey of traders found. The survey showed China was set to … Continue reading

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Nigeria: German Killed, Pirates Hijack Gunboat

Gunmen killed a German man and kidnapped a second in southwest Nigeria, police said Tuesday as the military reported that pirates in the oil-rich south hijacked a police gunboat and killed three officers. Armed men attacked a group of workers … Continue reading

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Bin Sulayem launches Seatrade event

Seatrade Middle East Maritime (SMEM), was inaugurated today (Tuesday 28 October) by H.E. Sultan Ahmed Bin Sulayem, Chairman of DP World and Chairman of Ports, Customs & Freezone Corporation. Bin Sulayem was accompanied by (from L-R): Rashid Mohammed Al Habsi, … Continue reading

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India: Kolkata up 7.9pc in 6 months, hits record 500,092 TEU in September

KOLKATA Port Trust (KoPT) handled a record 500,092 TEU in September, breaking all previous records, reports New Delhi’s TransReporter. “Kolkata Dock System recorded a 7.93 per cent growth year on year in container handling in the first six months of … Continue reading

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ITF “will fight” Costa Rica port violence

The International Transport Workers’ Federation has strongly condemned the actions of the Costa Rican government after hundreds of police officers stormed Puerto Limon’s Moin and Limon terminals last Thursday 23rd October, violently attacking workers and arresting 68 men and women … Continue reading

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