Category Archives: Shipping News

Asia-Pacific Handysize freight rates stay steady as Far East market remain busy

Asia-Pacific Handysize freight rates stayed steady Tuesday as market participants were slowly returning from the Ramadan holidays, and shipping sources said a stable Supramax and a busy Far East market could be lending support. “The Southeast Asia market is struggling … Continue reading

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Mediterranean Aframax freight rates drop sharply on longer tonnage list: sources

Aframax freight rates on the Black Sea-Mediterranean and Cross-Mediterranean routes tumbled Worldscale 37.5 to w90 Monday on a substantial list of available ships in the region. The Scorpio was heard on subjects to Chevron for a CPC-Med voyage at w87.5 … Continue reading

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India: AP govt gives nod to LNG Terminal at Gangavaram Port

The Andhra Pradesh government has given its nod for setting up the LNG Terminal by Petronet LNG Ltd atGangavaram Port on the East Coast near Visakhapatnam. However, it has refused Gangavaram Port’s proposal to collect the water front charges at the rate of Rs 103.68 … Continue reading

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SPNL Future London Report

The Shipping Professional Network London (SPNL) today released their full Future London report, an initiative that gathered the views and opinions of London’s young shipping professionals on what needs to be done for London to retain and improve its position … Continue reading

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Globecomm Maritime provides critical VSAT connectivity for Malaysia’s PBJV Group

Globecomm Maritime, a leading provider of maritime communications solutions, has been awarded a contract to provide VSAT connectivity to PBJV Group’s barge Kota Laksamana 101. Globecomm will provide Ku-Band VSAT connectivity with L-band back-up to the specialist vessel during its … Continue reading

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Tanker with Iraqi Kurdish crude cleared to unload cargo off Texas

A tanker carrying crude oil from Iraqi Kurdistan was cleared by the U.S. Coast Guard to unload its cargo at sea off Texas on Sunday as a State Department official signaled Washington would not intervene to block delivery of the controversial crude. … Continue reading

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DNV GL’s new Energy Management Study reveals high saving potential

The latest Energy Management Study issued by DNV GL has shown that not all Energy Saving Practices are utilized yet. Significant potential savings are still within easy reach. “High savings potential is still waiting to be unlocked,” is Julia Kühnbaum’s … Continue reading

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French utility turns away Russian thermal coal cargoes due to sanctions: sources

The trading arm of French utility EDF turned away Panamax cargoes of thermal coal from Russian producer Zarechnaya Coal due to EU sanctions against Russia, market sources said. Speculation was rife in the thermal coal market Thursday that Zarechnaya was … Continue reading

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International Chamber of Shipping: Harmonise emissions enforcement

THE International Chamber of Shipping (ICS) is seeking a harmonised approach to Port State Control (PSC) inspections before the January deadline for mandatory use of costly low-sulphur fuel in emission control areas (ECA). With the exception of the US, all … Continue reading

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Hamburg, Rotterdam face congestion charges as dwell times stretch

DUTCH barge operator Contargo will levy a EUR15 (US$20.20) per box congestion surcharge for Rotterdam and Team Lines adds a 75 per cent surcharge for the Port of Hamburg which is suffering similar delays. In June, Lloyd’s List reported that … Continue reading

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Atlantic Panamax freight rates improve on tight prompt tonnage, better sentiment

Freight rates ticked up for trans-Atlantic Panamax runs as prompt tonnage was met with a fair volume of inquiry, but the long-term outlook remained uncertain, shipping sources said. The Hampton Roads, Virginia-Rotterdam coal route, basis 70,000 mt improved to $9.25/mt … Continue reading

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Hamburg Sud ups rate US$150/box from US to Mideast, India/Pakistan

GERMANY’s Hamburg Sud will levy a general rate increase (GRI) on all cargo from the United States to the Middle East and the Indian subcontinent from September 1. Tariff and service contract rates will be increased by US$150 per container, … Continue reading

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Asia Tankers-VLCC rates could nudge higher on more vessel charters

Rates for very large crude carriers (VLCCs) on key Asian freight routes could hold steady or gain next week as charterers seek to complete their vessel chartering programme for the first 20 days of August, brokers said on Friday. The … Continue reading

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Delta refining arm charters Jones Act tanker amid trading revamp

Delta Air Lines Inc’s refining unit has chartered a U.S.-flagged oil tanker for the first time, allowing it to tap directly into cheap Texas shale oil as the company overhauls its supply strategy. Monroe Energy LLC, the Delta subsidiary that … Continue reading

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OOCL quarterly revenue rises 6.8pc, but per box rate falls 4pc

HONG KONG’s Orient Overseas Container Line (OOCL) has posted a second quarter 6.8 per cent revenue increase to US$1.5 billion, but also recorded a four per cent per-box rate fall, mitigated by a 6.5 per cent higher load factor. OOCL … Continue reading

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HPH Trust first half profit up 16pc to US$119.6 million, revenues up 2pc

SINGAPORE-listed global port operator, HPH Trust, has posted a first half year-on-year 16 per cent increase in net profit of HK$927.3 million (US$119.6 million), drawn on revenues of HK$6 billion, up two per cent. The company said that cargo to … Continue reading

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India liberalizes ship licensing rule

For many years, it has been an annual ritual for India’s shipowners to troop to the office of the directorate general of shipping to get a so-called general trading licence (GTL) renewed. Without such a licence, ships cannot ply, according … Continue reading

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A key gauge of global shipping costs is plunging and you should pay attention

A harbinger of global economic slowdown or simply an oversupply of big ships? That’s the debate surrounding the big drop in the Baltic Dry Index, a closely-watched gauge of global shipping costs, since the beginning of the year. The index … Continue reading

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25 Indian sailors stranded off Dubai ‘without pay or relief’ for 8 months

More than two dozen Indian crew members are stranded on two merchant vessels anchored off Dubai’s dry dock because the shipping company “has not paid their salaries for the last eight months or relieved them by sending in substitutes”. The … Continue reading

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Indian shipping industry awaits maritime labour law ratification

Much like mariners of yore waiting for monsoon winds to set sail, the Indian shipping industry awaits parliament’s ratification of the International Maritime Labour Conventionso as not to lose out on merchant traffic, according to industry leaders. With India yet to ratify the … Continue reading

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Ecuador bunker fuel prices dip, but market eyes future rise on tighter supply

Bunker fuel prices dipped in Ecuador, but market participants expect them to move higher in the coming days as a result of tight supplies due to maintenance at the 45,000 b/d La Libertad refinery, market sources said. Petroecuador’s second-largest refinery … Continue reading

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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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