Category Archives: News

Iron Ore Slump Forecast as StanChart Recommends Bets on Losses

Iron ore prices are set to slump in the second half as more steel companies in China will probably go bankrupt, hurting demand in the world’s largest user just as supply expands, according to Standard Chartered Plc. Investors should sell … Continue reading

Posted in General News | Leave a comment

Hapag-Lloyd and CSAV sign merger agreement

Hapag-Lloyd and Compañía Sud Americana de Vapores (CSAV) have signed a binding contract to merge CSAV’s entire container business with Hapag-Lloyd, creating the world’s fourth largest box line. Following the integration, the new Hapag-Lloyd will have some 200 vessels with … Continue reading

Posted in Shipping News | Leave a comment

Port of Piraeus Container Throughput to rise by 20% during 2014

We continue to see the Greek economy slowly emerging from its multi-year recession. It is moving in the right direction, but slowly. We’re holding our forecasts unchanged from our last quarterly report. That means that after an estimated 4.4% GDP … Continue reading

Posted in Port News | Leave a comment

Japan’s Feb bonded bunker fuel sales up 0.2% on year at 1.9 mil barrels: METI

Japan’s bonded bunker fuel sales edged up 0.2% year on year to 1.91 million barrels (304,341 kl) in February, data released Wednesday by the Ministry of Economy, Trade and Industry showed. The February total was down 8.3% from January. Sales … Continue reading

Posted in Shipping News | Leave a comment

Hong Kong up 8.7pc in March to 2 million TEU, Singapore up 7.2pc

FIGURES from the Hong Kong Marine Department show the port handled 2 million TEU in March, representing a year-on-year increase of 8.7 per cent from 1.38 million TEU in March last year. Singapore’s Maritime and Port Authority reported a 7.2 … Continue reading

Posted in Port News, Shipping News | Leave a comment

BIMCO: Chinese GDP grew by 7.4% in Q1 from a year earlier

The world’s second largest economy rose by 7.4% in first three months of 2014 as compared to same period last year. China remains on course for a soft landing as the nation rebalances its economy from being reliant on investments … Continue reading

Posted in Shipping News | Leave a comment

Asia Australia Discussion Agreement levies US$550/TEU charge for bunker

MEMBER lines of the Asia Australia Discussion Agreement (AADA) will levy a US$550 per TEU and $1,100 per FEU charge on dry and reefer cargo from Japan, Korea, mainland China, Hong Kong and Taiwan to Australia starting May 17. Reflecting … Continue reading

Posted in Shipping News | Leave a comment

MAS extend global reach with exclusive armor systems

Following on from the continued success of the product, Marine Armor System are excited to announce its global launch and updated website. MAS is an innovative non-lethal  vessel protection system based on ballistic blinds, protecting the vessel or rig against … Continue reading

Posted in Shipping News | Leave a comment

First time marathon runners on track to raise almost £40k for seafarers in need

Sailors’ Society’s 2014 London Marathon team has brought in thousands for the maritime charity and donations are still pouring in. For 12 of the 20 strong team, this was the first time they had taken on the might of a … Continue reading

Posted in Shipping News | Leave a comment

MPHRP responds to prize honour

Commenting on last night’s Seatrade Award to the Maritime Piracy Humanitarian Response Programme (MPHRP) for ‘Support and assistance to seafarers and their families affected by maritime piracy’, MPHRP chair Peter Swift said: “We are most grateful for this recognition of … Continue reading

Posted in Shipping News | Leave a comment

INDIA: COASTAL SHIPPING – TIME TO CHANGE

India is blessed with a long coastline of about 7500km. Coastal Shipping plays a major role in the development of domestic industry and trade and thus the economy of the nation. Today when we look at transportation of goods within … Continue reading

Posted in Article, Local News | Leave a comment

South Korea ferry sinking with 450 on board

A ferry with about 450 people on board is sinking off the south-west coast of South Korea, coastguard officials say. Most of the passengers are secondary school students on their way from Incheon to the southern resort island of Jeju, … Continue reading

Posted in Shipping News | Leave a comment

China rebar, iron ore extend losses on weak demand outlook

Chinese steel and iron ore futures extended losses on Tuesday, weighed down by a tepid pick-up in demand for the two commodities in the world’s top consumer. Demand for metals traditionally improves in the second quarter as construction and manufacturing … Continue reading

Posted in General News | Leave a comment

Asia Fuel Oil-380-cst cash discount widens to near 7-month low

The 380-cst cash discount widened to a near seven-month low as the market struggled to sell oil with ample supplies and no firm recovery in demand. The 380-cst cash discount stood at $3 a tonne to Singapore spot quotes, versus … Continue reading

Posted in Shipping News | Leave a comment

Maersk Line cuts carbon emissions while still increasing its business

DENMARK’s Maersk Line has published its sustainability progress update, showing that it reduced CO2 emissions by 3.8 million tonnes last year while the business grew 4.1 per cent. “2013 was a good year for Maersk Line – financially as well … Continue reading

Posted in Shipping News | Leave a comment

Maritime Piracy: A Chronic but Manageable Threat

Recent years have seen a dramatic reduction in maritime piracy. According to the International Maritime Bureau’s Piracy Reporting Center, Somali pirates attacked 236 ships in 2011. By the end of 2013, that number had dropped to 15. Earlier in the … Continue reading

Posted in Shipping News | Leave a comment

Georgia Ports Authority volume rises 12pc to 260,539 TEU in March

THE Georgia Ports Authority (GPA) had its best month ever in March with the Port of Savannah posting a 12 per cent year-on-year container increase to 260,539 TEU while overall cargo was up 15.5 per cent to 2.61 million tons. … Continue reading

Posted in Port News | Leave a comment

NYK inks deal to charter eight new 14,000 teu boxships

Nippon Yusen Kaisha (NYK) has inked a charter deal for eight new 14,000 teu containerships to be built at Japan Marine United (JMU). The newbuildings will be delivered from February 2016 through to January 2018. The new vessels will be … Continue reading

Posted in Shipping News | Leave a comment

Piracy could spread to Mozambique

A new breed of pirate could emerge in northern Mozambique to exploit the gas and oil industry that is about to boom there, unless the region addresses the problem. Rear-Admiral Robert “Rusty” Higgs and Joao Paulo Coelho, a professor at … Continue reading

Posted in Shipping News | Leave a comment

ConocoPhillips to resume LNG exports from Kenai, Alaska, LNG plant

ConocoPhillips will restart its mothballed liquefied natural gas plant near Kenai, Alaska, and will resume LNG shipment in May, a company spokeswoman said Monday. The company will make six shipments this year, spokeswoman Amy Burnett said. The decision follows a … Continue reading

Posted in Shipping News | Leave a comment