Category Archives: News

Clean Handysize vessel cross-Med freight rates spike to 20-month high

Clean Handysize freight rates on cross-Mediterranean voyages spiked to just over a 20-month high Thursday as a wave of cargoes in the last two weeks drastically reduced available vessels. Rates on cross-Med runs, basis 30,000 mt, were assessed Worldscale 10 … Continue reading

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Shipping emissions could grow 250 per cent by 2050

emissionShipping emissions made up 2.2 per cent of global CO2 emissions in 2012 down from 2.8 per cent in 2007, but the sector’s carbon impact is likely to grow significantly in the coming year, according to a new UN-backed study. … Continue reading

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No travel or trade ban necessary to deal with ebola threat, says IMO

The IMO has reiterated that there is no need for a general ban on international travel or trade due to the Ebola virus disease outbreak in West Africa. The advice comes on the recommendations of the third meeting of the … Continue reading

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Sustained response to Somalia piracy requires effective State governance – UN political chief

While noting the progress made to combat piracy off the coast of Somalia, the United Nations political chief today said that a sustained long-term solution must include the presence of effective Government and State institutions that provide basic services and … Continue reading

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CMB: Third Quarter Results 2014

CMBCMB’s executive committee has reviewed the consolidated results recorded for the third quarter 2014. The third quarter consolidated result amounts to USD -12.160.000 (2013: USD 13.888.000), bringing the consolidated result for the first nine months of 2014 to a total … Continue reading

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Industry predicts global shipping volumes to hit billion TEU by 2020

CONTAINER volumes handled by ports worldwide is forecast to increase to up to one billion TEU by the end of the decade, up from 623 million TEU in 2013. Speaking at a seminar in London, Drewry Maritime research senior manager … Continue reading

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Aqaba dockers end APMT strike, labour court expected to rule on wages

STRIKES at Aqaba Container Terminal Jordan’s only seaport, have come to an end with the union and the port operator APM Terminals (APMT) agreeing to a no-walkout/no-lockout policy while contract talks continue, reports Lloyd’s List. Aqaba has huge strategic importance … Continue reading

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OOCL cancels Asia-North Europe Loop 6 on low Christmas demand

HONG KONG’s Orient Overseas Container Line (OOCL) has announced in a notice to trade that it will withdraw Loop 6 on Week 48 (ETA Kaohsiung on 23 November) on the Asia-North Europe service. The company said it was doing this … Continue reading

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Saudi Arabia supplies less oil in September despite output rise

Saudi Arabia supplied less crude oil to the market in September than a month earlier, an industry source said, at a time when some OPEC members are calling on the top oil exporter to cut back output to lift prices. … Continue reading

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China iron ore concentrates: Downward pressure from steel output cuts

The Chinese domestic iron ore concentrate price remained flat over the week for the second week in a row, but is expected to be under downward pressure from steel output cuts in north China’s Hebei province because of smog and … Continue reading

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Chabahar port could shape global strategy of India’s state-run ports

Last week, the cabinet led by Prime Minister Narendra Modi approved the framework for India’s participation in developing Iran’s Chabahar port with an investment of $85.21 million, clearing the decks for two of the country’s biggest state-owned ports to venture … Continue reading

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Seroja seeks to void arrest warrant on its panamax vessel

Seroja Investments is seeking to void an arrest warrant on its panamax vessel over claims by Conirma Marine that the ship is not fit for delivery. Seroja, which provides marine cargo and coal transportation services in China and Indonesia, announced … Continue reading

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ECB Said to Slash Value of German Bank Ship Loans

German shipping lenders each saw their assets devalued by as much as 18 percent in the European Central Bank’s inspection of the area’s biggest banks, according to a senior executive with knowledge of the procedure. The discount on loans in … Continue reading

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Hong Kong shippers demand congestion surcharge be dropped

THE Hong Kong Shippers’ Council (HKSC) is urging container shipping lines to scrap a US$50 per TEU congestion surcharge and also that carriers compensate customers for the losses incurred through delays caused by congestion. “Shippers fail to see any justification … Continue reading

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Port of Antwerp on course for new record year after strong third quarter

The port of Antwerp handled a freight volume of 148,344,168 tonnes during the first nine months of this year. That’s 3.7% more than the same period last year. Both the container volume and the liquid bulk volume were strongly up, … Continue reading

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Long Beach Sept up 7.3pc to 629,771 TEU, LA up 9pc to 775,113 TEU

THE Port of Long Beach has posted a 7.3 per cent year-on-year increase in September container throughput to 629,771 TEU, its best September since 2007, the port’s peak year, say port authorities. Imports were up 10.2 per cent year on … Continue reading

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China steel, iron ore futures widen losses as oversupply weighs

Chinese steel and iron ore futures dropped on Thursday, extending losses from the previous session as growth in supply continued to outpace demand in the world’s top consumer of the two commodities. Amid slowing economic growth in China, demand for … Continue reading

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CMB: ASL Aviation Group to Acquire the Farnair Group

ASL Aviation Group (ASL) has announced the signing of an agreement to acquire the Farnair Group of companies. The transaction is expected to close before the end of the year, once all pending regulatory and customary approvals are received. When … Continue reading

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Kimberly Karlshoej is new head of ITF Seafarers’ Trust

The ITF Seafarers’ Trust – the charity arm of the International Transport Workers’ Federation  –  has appointed leading shipping figure Kimberly Karlshoej as its new head.   Kimberly Karlshoej is well known as a founder and, until recently, director and … Continue reading

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Glander International Bunkering appoints Mr. Maurice Lara as Bunker & Lubricant Trader to the Florida office

Glander International Bunkering, a global leader in bunkering & lubricant trading & brokering, is proud to announce the appointment of Mr. Maurice Lara as Bunker & Lubricant Broker/Trader. Glander International Bunkering has five international offices strategically located in Dubai, Mumbai, … Continue reading

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TSA Lines Tackle Sharply Rising Costs for Low-Sulfur Fuel

Asia-U.S. container shipping lines in the Transpacific Stabilization Agreement (TSA), facing an average US$365 per ton low-sulfur fuel price differential at the beginning of 2015 – as environmental rules mandate a shift to cleaner marine gas oil (MGO) within North … Continue reading

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Guardian Maritime launch Greenwater piracy barrier

Following on from the continued worldwide success of its GUARDIAN™ anti – piracy barrier, Guardian Maritime are proud to announce the launch of GUARDIAN Greenwater. GUARDIAN Greenwater has been developed, following customer demand, to deal with the issue of greenwater … Continue reading

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ClassNK completes work on KOTC vessel MUTRIBA

Leading classification society ClassNK (Chairman and President: Noboru  Ueda) announced that it has completed work on the 31,445GT Product Tanker MUTRIBA, built by Hyundai Mipo Dockyard Co., Ltd. (HMD) as part of a series of  vessels being constructed for the Kuwait … Continue reading

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Seatrade, Saudi Aramco announce second annual Global Workboats Technology Forum

The 2014 edition of the biennial Seatrade Middle East Maritime will be the host event for the second annual one-day Global Workboats Technology Forum at which a line-up of renowned international experts will present a series of technical papers on … Continue reading

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