Category Archives: News

ASIA CAPESIZE DRY: Rates creep up with market in ‘Mexican standoff’

Capesize freight rates in the Pacific and Atlantic continued to creep up Tuesday with vessel owners and charterers locked in a “Mexican standoff”, resulting in thin fixture activity, market participants said. Platts assessed the Capesize freight rate on the West … Continue reading

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Clean European barge rates at 2014 highs on strong demand, water levels

Clean Northwest European barge rates are at year-to-date peaks on high liquidity in the Rotterdam ultra low sulfur diesel market and low Rhine water levels. The clean Rotterdam-Flushing barge rate closed at $3.75/mt on Thursday ahead of the Easter holiday … Continue reading

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EU Commission clarifies EU rules on cabotage and reports on developments in this sector

The European Commission has given new guidance on the interpretation of the regulation to provide cabotage within a Member State1, thus providing an internal market for the provision of maritime transport services. With the new guidance competent authorities will have … Continue reading

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HSH Nordbank sees box derivatives gaining ground with low-value goods

CONTAINER freight derivatives, as hedging instruments, are enjoying a comeback with low-value goods since Clarkson Securities did its first container freight swap between Morgan Stanley and Delphis in 2010. High-volume, low-value commodity exporters in Germany and of US agricultural exports … Continue reading

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Australia’s Newcastle port coal weekly exports slip 12% to 2.6 million mt

Thermal and coking coal exports from Australia’s Newcastle port fell 12.5% on the week to 2.64 million mt in the week to Sunday, after four weeks of gains, according to the Newcastle Port Corporation’s latest update. NPC said there were … Continue reading

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Greek shipowners splurge over $3bn on newbuildings

While some shipping communities many be sitting on the fence just now considering whether now is the time to make a final move into the new ship market, many leading Greek shipowners have expressed their view in cash terms. In … Continue reading

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Ambrey Risk joins BIMCO

Ambrey Risk has now been formally accepted as an Associate Member to BIMCO. This follows the companies’ achievement of ISO/PAS 28007, the first assessment of a maritime security company’s quality management system against an International Standards Organisation framework (ISO). John … Continue reading

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Panama Canal to lose another service due to consolidation

The Panama Canal is losing another shipping service due to Evergreen joining the CKYHE alliance. The alliance will deploy 8,500 teu-capacity vessels, which are too large for the canal, on two services, which cannot transit and will be redirected to … Continue reading

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Clock ticking on Fowey ship arrest

A ship detained at Fowey for multiple safety and accommodation failings will face arrest at 17:00 BST today unless the owners pay the crew the wages they owe them. The Panamanian-flagged, Turkish-owned vessel Munzur was detained by the UK’s Maritime … Continue reading

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WISTA – UK’s “Came by Ship” essay competition launched

PR and Marketing consultancy Jeanius Consulting is proud to announce the launch of WISTA – UK’s “Came by SHIP” essay competition, supported by Lloyd’s List. WISTA – UK, part of the Women’s International Shipping & Trading Association, celebrates its 40th … Continue reading

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India: SC allows iron ore mining in Goa with 20 mt annual cap

The Supreme Court lifted an 18-month-old ban on mining in Goa on Monday, giving the iron-ore industry hopes of resuming an attractive export-led business, but analysts and industry members said a slump in prices and slackening demand in China meant … Continue reading

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US oil exports – perspectives from a Washington DC insider

The speaker at the April luncheon of the Society of Maritime Arbitrators (SMA) was the Washington DC based maritime lawyer Charlie Papavizas, from Winston & Strawn. Topics at SMA meetings have continued to focus on matters related to energy, and … Continue reading

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India: Petronet invites bids to lease out LNG storage tanks at Kochi

Petronet LNG Ltd, the nation’s biggest importer of liquid natural gas, has invited bids to lease out under-utilised storage tanks at its recently commissioned LNG import facility at Kochi in Kerala. The company operates the 5 million ton-a-year Kochi terminal at a sub-optimal 5% … Continue reading

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Huanghua port’s quarterly container volume up 115.9pc to 82,700 TEU

THE Huanghua comprehensive port area in northern China’s Hebei province recorded a robust growth of 115.93 per cent year on year in container volume to 82,700 TEU in the first quarter of the year, reports Xinhua. Overall cargo volume handled … Continue reading

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Spanish LNG throughput down 27.7% on year in week ended Sunday

Spanish LNG throughput in the week that ended Sunday fell 27.7% from the corresponding week of last year, according to data released Monday by gas grid operator Enagas. LNG throughput from Spain’s six import terminals totaled 1.39 TWh last week, … Continue reading

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China iron ore importers say not under pressure to sell port stocks to pay debts

Chinese iron ore importers on Monday denied they were under pressure to sell their port stocks so that they repay their debts to the country’s banks, refuting recent local media reports. The importers added that the price of the more … Continue reading

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Abu Dhabi volume expected to rise in 2014 with 22pc surge in box traffic

CONTAINER traffic at Abu Dhabi Ports Company’s (ADPC) Khalifa Port is expected to reach 1.1 million TEU this year, a rise of 22 per cent from 905,000 TEU in 2013, when traffic rose 17 per cent. ADPC chief executive Mohamed … Continue reading

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India import of vegetable oils, fats gain 26.79% M-o-M in March

India’s import of vegetable oils, animal or vegetable fats and product imports rose 26.79% on month-on-month basis to US$ 970.62 mn in March, according to INfodriveIndia.com. The findings are based on customs data collected from ports. ccording to Pradeep, Chief … Continue reading

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Major banks exiting commodities, opening opportunities for large trading houses

With large banks exiting commodity business due to falling business revenues and increased regulatory oversight, large trading houses are likely to enter the scene, according to analysts. Reuters reported that Barclays is following JP Morgan Chase and Morgan Stanley with plans … Continue reading

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Markel International boosts marine underwriting team in Asia with the appointment of Luke Tidey

Markel International, the specialist insurer, has appointed Luke Tidey as an assistant marine underwriter in its Singapore office. Luke joins from Markel International’s Stockholm office where he held the same position.  Prior to that, he was a marine underwriter with … Continue reading

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