Category Archives: News

India cuts dependence on Iran oil to less than 6%

India has cut its reliance on Iran for meeting its oil needs to less than 6% as it raised imports from countries like Columbia and Mexico. India imported 11 million tonnes of crude oil from Iran in the fiscal year ending March 31, 2014, down from 13.14 … Continue reading

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Global seaborne coal market oversupply to be 10 mln T this year

The global market for seaborne thermal coal will be oversupplied by around 10 million tonnes this year, keeping prices below profitable levels for most coal producers well into 2015 or longer and forcing more mines to close. Coal prices have … Continue reading

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Mediterranean HSFO backwardation at 7-week high on bunker fuel demand, lower supply

The 3.5% FOB Med fuel oil cargo market was trading at a $3.00/mt premium to the front-month August swap Monday, the highest in seven weeks. The premium was last wider on June 6, when it was at $4.25/mt, Platts data … Continue reading

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India: Kolkata port eyes royalty floor for cargo handling

A six-member committee headed by the chairman of theKochi port, Paul Antony, is likely to recommend regulation of shore handling operations at major ports but Kolkata has come up with its own solution for handling agents for drybulk cargo. The board … Continue reading

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Maersk, Hapag to shippers: Stand by for low-sulphur fuel surcharges

MAERSK and Hapag-Lloyd are preparing shippers for low-sulphur fuel surcharges of up to US$150 per FEU when regulations are enforced in the Emission Control Areas (ECAs) of Europe and North America, reports London’s Loadstar. So far only Maersk and Hapag-Lloyd … Continue reading

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PIL and Wan Hai first to call at Iranian port since easing of sanctions

SINGAPORE’s Pacific International Lines (PIL) and Taiwan’s Wan Hai Lines have resumed calls at Iran’s main port of Bandar Abbas on their jointly operated China-Middle East-India CMS service after a two year absence. The resumption appears to be a first … Continue reading

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China June iron ore imports from Australia up 31.9% on year to 45.82 mil mt

China imported 45.82 million mt of iron ore from Australia in June, up 31.9% year-on-year and up 1% from May, data released Tuesday by the General Administration of Customs showed. Australia was the largest supplier of iron ore to China, … Continue reading

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World Crude Steel production rises 3.1% in June

World crude steel production for the 65 countries reporting to the World Steel Association (worldsteel) was 137 million tonnes (Mt) in June 2014, an increase of 3.1% compared to June 2013. World crude steel production in the first six months … Continue reading

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Texas Congressman Wants U.S. to Debate Crude Oil Exports

The recent boom in U.S. oil production may mislead Americans and elected officials into thinking that all U.S. refineries and domestic energy security are benefitting from the bounty, a congressman said Sunday on Platts Energy Week. But the dynamics are … Continue reading

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Asia Panamax dry freight rates: Ramadan holidays hit fixing activity

The Panamax market in Asia Pacific started the week with low activity levels being reported ahead of forthcoming Ramadan holidays in Indonesia, shipping sources said Monday. “The owners are trying to be bullish but a fair amount of tonnage is … Continue reading

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MF Says German Ship Loans Remain Concern Before ECB Bank Test

Bad loans held by German banks in the shipping sector remain a concern ahead of the European Central Bank’s stress tests, according to a country review by the International Monetary Fund. While German banks are “generally well positioned,” lenders holding … Continue reading

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Pirates drain Malaysian tanker Oriental Glory of oil cargo in Malacca Strait

PIRATES attacked a Malaysian-flagged 2,500-tonne oil tanker in the Malacca Straits, stealing its cargo, according to the Malaysian Navy, reports London’s Tanker Operator. The Oriental Glory was sailing from Singapore to a port in the Malaysian state of Sabah. After … Continue reading

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India: Panel proposes cap on bulk cargo charges

A five-member committee of port trust chairmen has recommended to the Union shipping ministry that a ceiling should be imposed on tariffs for loading and unloading of bulk cargo at the 12 so-called major ports in India, but has turned … Continue reading

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Asia Fuel Oil-180-cst discount down at near three-month low

Cash discount on the 180-cst fuel oil deepened for the fifth consecutive session to a near three-month low on Monday, pulled down by aggressive selling during cash trading, traders said. The 180-cst discount stood at $3.21 a tonne to Singapore … Continue reading

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Asia-Europe rates continue slide, Drewry expects brief rise in August

ASIA-EUROPE spot rates on the Shanghai Containerised Freight Index (SCFI) fell US$72 or 5.8 per cent last week from the week before to $1,230 per TEU. Drewry Maritime Research expects rates to weaken through July before rising briefly on the … Continue reading

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New fuel scrubber technology tests on containership meet UN standards

MAERSK has successfully tested Belco Technologies Corporation marine scrubber technology on board the 8,112-TEU Maersk Tukang on a short voyage in the Mediterranean, reports New York’s Marine Link. Tests confirmed the technology achieved 100 per cent compliance with United Nations … Continue reading

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World Class Smartship Simulator Endorsed by Reef Pilots

One of the world’s most sophisticated shipping simulators is being used by Australia’s leading maritime pilotage company, Australian Reef Pilots (ARP), to enhance its state-of-the-art combination/suite of safety and training initiatives. ARP uses the Smartship Australia (Smartship) facility in Brisbane … Continue reading

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Chinese market sees room to import low-CV Indonesian thermal coal

Indonesian thermal coal suppliers were seeing some room for low-CV coal to be imported into the Chinese market, due to low domestic prices that had priced out seaborne cargoes of mid- to high-cv coal, sources said on Monday. Platts assessed … Continue reading

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Asia Naphtha-Bangladesh naphtha tender gets highest bid since March 2013

Bangladesh Petroleum Corp (BPC) will sell 170,000 barrels of naphtha to Vitol Asia at premiums of $1.32 a barrel to Singapore quotes, the highest since March 2013, amid tight prompt supply. Vitol Asia offered the best price for the cargo … Continue reading

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Global Audience To Share Knowledge and Expertise in “The Shipping Tribune Conclave 2014″

Colleagues from the Shipping Industry not only in India but also from maritime hubs like Singapore, U.K and US have shown keen interest in The Shipping Tribune Conclave 2014. This conference is being organized on October 6th, 2014 at Holiday Inn, Andheri … Continue reading

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Registering Indian ships overseas to become legal

Local ship owners will not be allowed to register their Indian-flagged shipping fleet in overseas jurisdictions but such permission will be available to ships purchased by them from now on, according to a policy on shipping capacity set to be … Continue reading

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ATLANTIC PANAMAX DRY: Market remains soft in slow Friday trading

No new cargoes were heard of in the Atlantic Panamax market Friday and trans-Atlantic rates were unchanged as a growing tonnage list suppressed any increases, sources said. The tonnage list continues to grow in the Atlantic and rates were static … Continue reading

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Indo-B’desh coastal shipping trial run to start by Oct 14

India and Bangladesh are set to start coastal shipping by this year and trial runs between the ports in two countries are slated by October 14. “An understanding has been reached between the two countries for commencement of coastal shipping between the ports of Bangladesh … Continue reading

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India: March profit just a blip, not sustainable, says Shipping Corporation of India

The turnaround seen by state-owned Shipping Corp of India (SCI) in March quarter was just a blip, and the profit earned is not sustainable looking at the dismal state of freight rates, said its chairman cum managing director Arun Kumar … Continue reading

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