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Great Eastern Shipping

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

Chabahar port

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

Times of San Diego

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

Iron-Ore (1)

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


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

DP World

DP World profit up 26pc to US$332 million as revenues rise 9.9pc

DUBAI’s global port operator DP World has posted a 26 per cent year-on-year first half net profit increase to US$332 million, drawn on revenues of $1.6 billion, which increased 9.9 per cent. DP World said it handled 29.4 million TEU … Continue reading


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


Australia avoids commodity “Dutch Disease”, for now: Russell

The resource boom is often cast as both villain and hero in Australia, being simultaneously recognised as a major driver of the country’s wealth but also as a destroyer of traditional industries. Two recent research papers have highlighted this dual … Continue reading


OPEC Oil Output Hits One-Year High in August on Nigeria

OPEC crude oil production increased to a one-year high in August, led by surging output in Nigeria, a Bloomberg survey showed. Production by the 12-member Organization of Petroleum Exporting Countries rose by 891,000 barrels a day to 31.033 million, according … Continue reading


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

USGC LPG cargo

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

Thai tanker

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

dry bulk2

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


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


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


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

Evergreen ship

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

Iran oil tanker

Asian buyers take 29.4 pct more Iran oil in July on-year

Iran’s major Asian customers shipped in 29.4 percent more crude in July from a year earlier, with China, Tehran’s biggest client, still accounting for most of the increase seen since Western sanctions were eased at the beginning of the year. … Continue reading

Iron ore imports

At 2-year low, iron ore set for biggest monthly loss since May

Iron ore is on track to end August with its biggest monthly fall since May as a supply glut and a weak steel market have dragged prices down to the lowest level since September 2012. Shanghai rebar steel futures dropped … Continue reading

India’s thermal coal

Indian power station coal stocks lowest since 2012 blackouts

Half of India’s thermal power stations have less than a week’s supply of coal on hand, according to weekly data, the lowest level since mid-2012 when hundreds of millions of people were cut off in one of the world’s worst … Continue reading


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


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

CMA CGM up-sizes

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

Somalia flag

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 provides important shipping and maritime news and information. The website is visited mostly by ship owners, operators, managers, ship chandlers, shipping executives and mariners . Our visitors are from all across the globe from Shipping and Maritime Industry. The Shipping Tribune helps to keep you abreast with all the latest news and advancements related to shipping, ports, shipbuilding, energy, ship recycling and many more offshore news. Register with us today for our latest newsletters.