Category Archives: Shipping News

Great Eastern plans Rs 2,300-cr capex to raise capacity

Great Eastern Shipping, the largest private sector liner in the country, plans to invest up to $380 million or around Rs 2,300 crore in acquiring vessels and on a rig by March 2017, a senior official has said. Around $180 million will … Continue reading

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India has pledged $100 million for Chabahar port: Afghan envoy

India has earmarked $100 million for upgradation of Chabahar port in Iran so as to improve trade with Afghanistan and other Central Asian countries, Afghan envoy to India Shaida Mohammad Abdali has said. “Ultimately the port connects the Central Asia … Continue reading

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Coast Guard Rescues 5 Off Sinking Ship Near Point Loma

Coast Guard crews pumped water from a sinking ship and rescued five people off the coast of Point Loma, agency officials said Sunday. The Coast Guard Sector San Diego received an emergency call from the vessel PMS Escape II at 5:58 p.m. … Continue reading

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Iron-Ore Freight Rates Have Biggest Monthly Jump Since September

Charter rates for Capesize ships that carry iron ore jumped the most since September this month, helped by the biggest increase in four years on the route between Brazil and China. The daily average rate to hire a Capesize, each … Continue reading

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CSCL back in black with US$74.9 million profit via staging asset sales

CHINA Shipping Container Lines (CSCL) posted a first half net profit of CNY460.3 million (US$74.9 million), reversing a CNY1.3 billion loss sustained last year. A unit of the state-owned China Shipping Group, the Shanghai- and Hong Kong-listed company would have … Continue reading

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Rickmers turns to debt market as profits fall 95pc to US$1.4 million

HAMBURG’s box and heavy lift carrier Rickmers has posted first half year-on-year pre-tax profit decline of 95 per cent to EUR1.1 million (US$1.4 million), drawn on revenues of EUR271.7 million, down 5.9 per cent. The company said it expects no … Continue reading

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CSO Capt., Ulrich Ganz Bernhard Schulte joins Tundra

Tundra Group is delighted to announce the addition of the former Senior Company Security Officer (CSO) of Bernhard Schulte Shipmanagement (BSM), Captain Ulrich Ganz, to their Senior Management team. An Ex-Master and Marine Superintendent with over 30 years’ experience which … Continue reading

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Rising Demand for LPG Shipping Driving VLGC Ordering Frenzy

A sharp rise in LPG shipping demand, particularly out of the US, is driving an ordering frenzy for very large gas carriers (VLGCs) which will increase the size of the LPG shipping fleet by over 50% over the next two … Continue reading

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Thai tanker hijacked by armed pirates off Malaysia, cargo stolen

A Thai oil tanker, VL14, was hijacked by armed pirates off the East Coast of Malaysia on Thursday evening and its cargo stolen, the eighth such incident this year. The 1,074 gt tanker was boarded by six pirates armed with … Continue reading

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Recovery in Sight for the Dry Bulk Shipping Market

Despite weak freight rates so far this year, Dry Bulk shipping earnings are forecast to recover as demand for both major and minor bulk commodities rises, according to the Dry Bulk Forecaster report published by shipping consultancy Drewry. Freight rates … Continue reading

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Growth continues for Sovcomflot in first half

OAO Sovcomflot (SCF) has reported a net profit of $63.6m in the first half, reversing a loss of $14.5m in the same period last year. he profit increase comes on a 7.4% increase in revenues to $675.2m from $628.4m in … Continue reading

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Tanker with Kurdish Crude Dissappears from Radar

The United Kalavrvta (formerly SCF BYRRANGA), which has been moored in international waters off Texas for more than a month, is reported to have disappeared from satellite tracking, writes Reuters. Namely, the ship, which got cleared for unloading of one million of … Continue reading

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Zim upgrades Med-West African MAF loop from fortnightly to weekly

ZIM said it has upgraded its service between the Mediterranean and West Africa from a fortnightly rotation to a weekly frequency. The MAF service will deploy six ships and rotate through Tarragona, Valencia, Algeciras, Tangiers, Dakar. Lagos-Tin Can, Tema, Abidjan … Continue reading

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Evergreen takes on Thalassa Doxain, 9th of ten 13,808-TEUers on charter

EVERGREEN has taken in charge the 13,808 TEU Thalassa Doxa, the nineth ship in a series of 10 sister ships built by Hyundai Heavy Industries (HHI) for Greek owner Enesel. The ships were ordered by Enesel in July 2012, with … Continue reading

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Germany’s HSH Nordbank sees risk of falling short in ECB tests

Germany’s HSH Nordbank expressed confidence in its capital safety buffers on Friday, but acknowledged it could still fall short in a European Central Bank (ECB) test of the state-backed lender’s ability to withstand financial shocks. HSH, long seen as vulnerable … Continue reading

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World’s biggest, 2nd biggest lines ask Washington for permission to tie-up

THE world’s biggest and second biggest shipping lines, Maersk and MSC, have sought permission from the US Federal Maritime Commission (FMC) to form a vessel sharing agreement called the 2M. Copenhagen’s Maersk Line and Geneva’s Mediterranean Shipping Company (MSC), have … Continue reading

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Throughput boost at CMA CGM

CMA CGM has reported a $94m profit in the second quarter, down from a $268m profit in the second quarter 2013, where the company recorded $248m of one-off gains from the sale of Terminal Link. Volumes carried by the French … Continue reading

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Somalia takes maritime dispute with Kenya to United Nations

Somalia has taken its maritime border dispute with Kenya to the United Nations’ top court which could settle a dispute and pave the way for oil and gas exploration. The International Court of Justice (ICJ) in a statement said Somalia … Continue reading

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American GDP up 4.2pc in second quarter after 2.1pc first quarter decline

AMERICAN gross domestic product grew 4.2 per cent in the second quarter, according to the US Commerce Department after the first quarter delivered a 2.1 per cent decline. New growth was attributed to robust exports, which increased 10.1 per cent … Continue reading

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VIKING Saatsea puts crew training in its place

SMM 2014 sets the scene for a fundamental change in the way shipowners and offshore asset owners train their crews to comply with STCW and OPITO requirements, and the systems they use to track and report on such certifications. And … Continue reading

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Social justice at sea narrows racial wage gaps, improves conditions

EUROPEAN seafarers still command better wages than others though the gap is narrowing, says a spokesman for seafarer wage benchmarking consultancy Precious Alliance, reports Lloyd’s List. Differences are not huge. “You are not looking at double wages. There is a … Continue reading

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New digital database is released to support tanker sector

Tanker is the latest addition to the ever expanding portfolio of Shipping Guides Ltd, the leading industry specialist in publishing port, harbour and terminal information. FindaportCD is an annual subscription service that enables its customers to access the most comprehensive … Continue reading

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JITF LTD – SULA project driven partnership announcement

JITF LTD, a wholly owned subsidiary of Jindal Saw Limited and SULA Shipping & Logistics Private Limited, pioneers of transhipment and barging of coal at Sandheads for the Farakka transhipment project, announced a project driven partnership. Together JITF and SULA have not … Continue reading

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U.S.’s Scorpio, China’s BoCom Order Five Triple E Giant Container Vessels

Scorpio Group, one of the world’s biggest tanker and bulk operators, and China’s Bank of Communications Co. have ordered a total of five giant Triple E container vessels that will be leased to Switzerland’s Mediterranean Shipping Co., people involved in … Continue reading

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