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Ship Polar Waters
 

IMO adopts mandatory Code for Ships Operating in Polar Waters


The International Maritime Organization (IMO) has adopted the International Code for Ships Operating in Polar Waters (Polar Code), and related amendments to the International Convention for the Safety of Life at Sea (SOLAS) to make it mandatory, marking an historic … Continue reading

 
7 Rescued
 

7 Rescued from Sinking Freighter Near Haiti


Seven crewmembers were rescued after their 100-foot coastal freighter began taking on water and sank approximately 45 miles north off of Cap Haitien, Haiti, Friday. Watchstanders at the Coast Guard 7th District command center in Miami received a report from … Continue reading

 
worldscale
 

Worldscale rates for Brazil’s Belem to rise: Worldscale Association


Worldscale rates for loading and discharging in Belem, Brazil have been raised, the Worldscale Association said Friday. “In light of recent information regarding the introduction of compulsory towage the Associations find it necessary to revise all rates involving loading or … Continue reading

 
G6 Alliance
 

G6 Alliance announces Pacific Atlantic Service adjustment


Members of the G6 Alliance today announced an adjustment to one of its Pacific Atlantic services in response to seasonal changes in market demand.   The Pacific Atlantic 2 (PA2) service will temporarily stop calling European ports, and instead turn … Continue reading

 
BW Offshore
 

BW Offshore Q3 profits up


BW Offshore has reported an increase in profit from $17.7m to $40.4m in the third quarter as utilisation and rates remained high. The Q3 profit rise continues a good for first nine months where earnings were up to $174.5m, up … Continue reading

 
South Carolina ports
 

South Carolina Ports Authority October container volume up 17pc


THE South Carolina Ports Authority (SCPA) has posted a 17 per cent year-on-year container volume increase to 164,672 TEU in October, representing a 14 per cent rise fiscal year to date. “October volume increased 19 per cent over the same … Continue reading

 
Chinese Ships Mineral Ban
 

India Sep Minerals production sees 0.7% growth


The index of mineral production of India mining and quarrying sector for the month of September (new Series 2004-05=100) 2014 at 116.0, was 0.7% higher as compared to September 2013. The cumulative growth for the period April-September 2014-15 over the … Continue reading

 
OPEC Crud
 

Confused OPEC Watchers Are More Divided Than Ever


To understand just how contentious next week’s OPEC meeting will be, take a look at the confusion it’s created among professionals paid to predict the outcome. The 20 analysts surveyed this week by Bloomberg are perfectly divided, with half forecasting … Continue reading

 
shell Na
 

Shell launches Naturelle S4 Stern Tube Fluid 100 to meet revised US EPA regulations


Shell has launched its new range of Environmentally Acceptable Lubricants (EALs), including Shell Naturelle S4 Stern Tube Fluid 100. The Shell Naturelle range of products enables ships entering US waters to comply with the revised 2013 Vessel General Permit (VGP). … Continue reading

 
Port of Antwerp
 

Eddy Bruyninckx receives Lifetime Achievement Award


Eddy Bruyninckx, CEO of Antwerp Port Authority, was presented with a Lifetime Achievement Award on Monday at a ceremony in Rotterdam. The distinction forms part of the IBJ Awards which are presented annually by the International Bulk Journal. The Award … Continue reading

 
bimcologo
 

BIMCO: The fall in bunker prices reduce fuel costs significantly


For a ship that burns 24 tonnes of fuel per day while steaming, fuel costs will be reduced by as much as USD 1 million a year if current price levels stay put. Assuming a difference from the average of the first … Continue reading

 
UNCTAD
 

World seaborne trade grew by just 3.8% in 2013, new report reveals


Reflecting stumbling growth in the world economy, world seaborne shipments grew by an average of just 3.8 per cent in 2013, taking total volumes to nearly 9.6 billion tons, UNCTAD’s Review of Maritime Transport 20141 reports. Much of the expansion … Continue reading

 
ITF
 

Seafarer and docker union leaders warn EC over Euro ports plans


A meeting of key ITF (International Transport Workers’ Federation)  member union decision makers in London issued a strong warning to the European Commission (EC) today over the future of the continent’s ports.   Docker and seafarer trade union leaders meeting … Continue reading

 
MSC
 

MSC puts back congestion surcharge despite shipper and regulator objections


AFTER withdrawing its west coast congestion surcharge – as other shipping lines have done – the Mediterranean Shipping Co (MSC) now tells customers it will be collected from November 26 at US$800 per TEU, $1,000 per FEU and $1,125 per … Continue reading

 
zim
 

Zim narrows losses by one accounting standard but widens them by another


ISRAELI flag carrier Zim Integrated Shipping Services posted a narrowing third quarter net loss to US$20 million year on year, down from $76 million in 2013 and drawn on quarterly revenues of $854 million, down 2.5 per cent on a … Continue reading

 
ilwu-logo
 

ILWU shuts Oakland for ‘safety stand down’, dock talks stop until December 2


OAKLAND and other Bay area ports were shut down by the International Longshore and Warehouse Union (ILWU) for a day-long “safety stand down” after death of docker, reported American Shipper. Meanwhile, contract talks have broken off with negotiating committee going … Continue reading

 
American Club
 

American Club’s 4.5% General Increase for 2015


The directors of the American P&I Club, meeting in New York, have decided on a 4.5% general increase for the 2015 renewal of mutual P&I entries, plus any additional costs of the club’s reinsurance, with the release call set at … Continue reading

 
DNV GL 2
 

COSLProspector – China’s most advanced deep-water semisubmersible drilling rig delivered with DNV GL class


COSLProspector, the fourth deep-water semi-submersible drilling rig built by CIMC Raffles for China Oilfield Services Limited (COSL), has been delivered in Yantai, Shandong Province. It represents another milestone for China’s deep-water drilling rig going into the global mainstream market. The … Continue reading

 
global iron ore
 

Iron ore delivered to China falls below $70/dmt for first time in 5.5 years


Seaborne iron ore prices tumbled below the $70/dry mt CFR North China mark for the first time since June 2009, with the benchmark Platts 62% Fe Iron Ore Index being assessed at $69.75/dmt CFR North China Friday, November 21. The … Continue reading

 
Tight Oil
 

Tight Oil Test: U.S. Production Growth Remains Resilient Amid Lower Crude Oil Prices


The vast majority of potential U.S. tight oil production growth remains economical in the current crude oil price environment, according to a new report by IHS IHS, -0.15% the leading global source of critical information and insight. About 80 percent … Continue reading

 
Singapore 380 CST HSFO0
 

Singapore 380-cst Dec/Jan spread hits over 2-month high


The price difference between the Singapore 380-centistoke December and January swaps widened to a more than two-month high on Thursday, an unusual peak towards the end of the year that is leaving many baffled, traders said. The 380-cst December/January timespread … Continue reading

 
Suezmax freight rates
 

WAF-UKCM Suezmax freight rates reach 6-year high on limited vessel availability


The cost of sending 130,000 mt crude oil cargoes from West Africa to the UK Continent and Mediterranean has surged to a six-year high as a dwindling tonnage list struggles to accommodate high levels of inquiry from charterers, shipping sources … Continue reading

 
Maersk
 

Maersk Line: To Implement Low Sulphur Surcharge To Support The New 2015 ECA Sulphur Regulation


To offset the additional cost incurred by switching to cleaner fuels in Emission Control Areas, as required by the new regulation, Maersk Line will introduce a new Low Sulphur Surcharge (LSS). The surcharge will be effective from 1 January 2015 … Continue reading

 
Nordlb a
 

ECB May Take More Conservative Look at Ship Loans, NordLB Says


The European Central Bank may take a more conservative approach than national regulators when assessing German banks’ shipping assets, said Oliver Faak, head of ship finance at Norddeutsche Landesbank. “It is in no way sure that the ECB won’t look … Continue reading

 
 
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