Category Archives: Shipping News

India: Govt frames guidelines for registering ships overseas

The government issued detailed guidelines on a so-called Indian-controlled shipping capacity announced in the budget, making it mandatory for fleet owners to hire Indian crew and provide training slots for cadets on ships registered overseas, in line with the requirements … Continue reading

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Anti-piracy watchdog concerned about rising attacks on tankers in Southeast Asia

International Maritime Bureau Thursday expressed serious concern over the rise in hijackings of tankers in Southeast Asia and warned that this could be a new trend in piracy attacks in the region. IMB, an international anti-piracy watchdog, said the attacks … Continue reading

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Russia Oil Exports by Sea to Reach 6-Year Low on Refining

Russia’s crude exports on tankers are poised to fall to the lowest in at least six years as a government push to improve and expand domestic refineries means more oil is exported as fuels like diesel. Seaborne crude shipments from the … Continue reading

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Busy days at Galveston as tankers crowd the anchorages

The anchorages for tankers, in the Gulf of Mexico, in waters off Galveston, and at Bolivar Roads at the entrance to Galveston Bay, have been chock-a-block full. The AIS plots are filled up with vessels moored near the entrance to … Continue reading

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Asia Fuel Oil-380-cst premium up slightly; stocks near 5-month low

Cash premium on the 380-cst fuel oil rose slightly on Thursday as the market prices in tighter supply in August and lower onshore stocks. The 380-cst cash premium rose for the second straight session to $1.75 a tonne to Singapore … Continue reading

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CMB RESULTS FIRST HALF 2014

CMB’s executive committee has discussed the preliminary results recorded for the second quarter and those for the first half of 2014.   All figures mentioned in this press release have been prepared under IFRS (International Financial Reporting Standards) and have … Continue reading

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ICTSI inks innovative loan facility programme

International Container Terminal Services, Inc. (ICTSI) successfully closed and signed today an inaugural Loan Facility Programme (the Programme) and a USD350 million syndicated revolving credit facility (the Revolving Facility) with a large group of international and domestic banks. ICTSI’s Loan … Continue reading

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ARCTIA SHIPPING JOINS WORLD OCEAN COUNCIL

Arctia Shipping, the Finland-based global leader in icebreaking and Arctic operations, has become a member of the World Ocean Council (WOC). With its headquarters in Finland, Arctia brings extensive maritime experience and expertise in ice and Arctic operations to the … Continue reading

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Freight rates on Baltic-NWE route at six month high on tight position list: sources

Aframax freight rates on the Baltic-Northwest Europe, basis 100,000 mt, hit six-month high Tuesday on a tight position list for the end-July and early-August loading dates, shipping sources said Wednesday. According to Platts data, freight rates on the Baltic-NWE route … Continue reading

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India’s Jan-June Iran oil imports climb by a third

India’s crude imports from Iran rose by a third in the first half of the year, data from trade sources showed, after the shipments were boosted following an interim deal to slow Tehran’s nuclear activity and ease Western sanctions. India, Iran’s top oil client … Continue reading

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Ireland, Belize Ratify ILO Maritime Labour Convention

İreland and Belize have ratified International Labour Organization’s (ILO) Maritime Labour Convention, 2006. This means that from July 8, 2015 and July 21, 2015, Belize and Ireland respectively will be parties to the Convention and will implement the requirements contained therein, … Continue reading

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EURONAV PRELIMINARY HALF YEAR RESULTS 2014

PRELIMINARY HALF YEAR RESULTS 2014 Highlights of recent developments  Acquisition of 4 VLCC vessels  Successful equity capital raise of USD 125 million Recovery in crude tanker rates towards end Q2 Outlook positive on seasonal demand and improving fundamentals Paddy … Continue reading

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Panalpina profit up 2pc to US$66.5 million, but revenue declines 3pc

SWISS forwarding giant Panalpina posted a two per cent increase in first half year-on-year pre-tax profits (EBIT) to CHF60.1 million (US$66.5 million), drawn on revenues of CHF60.1 million, which declined three per cent. Logistics contributed to over all results by … Continue reading

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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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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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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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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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