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Iron-Ore (1)
 

India to turn big importer of iron ore in FY15


After losing its status as the third-largest exporter of iron orea couple of years ago, India is likely to turn a big importer of the key steel-making raw material by the end of this financial year. The country is likely to import 10 … Continue reading

 
Handysize freight rates
 

ATLANTIC HANDYSIZE DRY: Front-haul rates rise on high demand


Front-haul rates are rising in the US Gulf as more grain stems come onto the market and the tonnage list is thin, sources said Wednesday. Front-haul rates continued an upward trajectory Wednesday. Shipping sources indicated a 58,000 dwt vessel can … Continue reading

 
Israel-Corp-logo
 

Israel Corp Q2 loss narrows on gains in refinery, shipping units


Israel Corp, one of Israel’s largest holding companies, reported a narrower quarterly loss on Wednesday due to improvements in its oil refinery and shipping units. It was also boosted by modest growth in its subsidiary IC Power, which expanded energy … Continue reading

 
bimcologo
 

BIMCO: Key US indicators prove stronger demand for container shipping


US economic growth and its accompanied consumer spending is on the rise – as shown by key indicators followed by BIMCO’s shipping market analyst – and will result in stronger demand for container shipping. The Conference Board Consumer Confidence Index … Continue reading

 
euronav dd
 

Euronav final half year results 2014


During its meeting of 27 August 2014, the Board of Directors of Euronav NV (NYSE EURONEXT BRUSSELS: EURN) approved the final consolidated financial statements for the period ended 30 June 2014. This press release refers also to the one distributed on 23 July … Continue reading

 
Cosco Pacific
 

Barring single item, Cosco Pacific profit increases 2.1pc as sales rise 11.4pc


COSCO Group’s port operator, Cosco Pacific, has posted a first half year-on-year 2.1 per cent net profit increase to US$146.7 million if one excludes a one-off expense. But when a one-off item and profit share from CIMC is included, Cosco … Continue reading

 
NTPC to import coal
 

India: NTPC to import 17 million metric tonnes of coal this fiscal


Facing shortage in domestic fuel supplies, state-owned NTPCplans to import 17 million metric tonnes of coal this fiscal which is higher than the quantity purchased last financial year. The country’s largest power producer plans to add 1,798 MW generation in the current financial … Continue reading

 
maersk ship
 

Maersk raises Asia-north Europe rate US$400/TEU from September 1


DANISH shipping giant Maersk Line has announced an Asia-north Europe rate increase of US$400 per TEU effective September 1. On average, shipping freight spot rates between Asia and northern Europe have fallen 7.7 per cent to $1,106 per TEU in … Continue reading

 
Stena
 

MacGregor conversion expertise secures new order from Stena


MacGregor, part of Cargotec, has received a contract from Stena North Sea Ltd to convert the 29,800gt RoPax ferry Dieppe Seaways to optimise it for its new route between Dublin and Holyhead in Ireland. The order further strengthens MacGregor’s position … Continue reading

 
Oil prices higher in Asian trade
 

Reasons behind oil price stability despite turmoil


These are really changing times. It is no longer enough to have a coup, a plane hijack or violence erupting in one oil producing country to have prices skyrocketing. The hotspots are all over the map of the Middle East … Continue reading

 
Shipping Industry Works to Reduce Greenhouse Carbon Emissions
 

Container shipping industry reduces CO2 emissions – Maersk Line outperforms the industry


The Clean Cargo Working Group (CCWG) has just published annual CO2 emission performance data for the container shipping industry. On an average, member carriers have reduced CO2 emissions per container transported in 2013 by 7.7% – a remarkable achievement in … Continue reading

 
ambreyrisk
 

The State of Piracy


Piracy’s gone away, right? You’d be forgiven for thinking that. The predominant narrative for the Indian Ocean is that Piracy has been suppressed to an extent that ship-owners are requesting fewer guards, even unarmed in some cases. Certainly private security … Continue reading

 
classnk
 

ClassNK Release Annual Report on Port State Control


Leading classification society ClassNK (Chairman and President: Noboru Ueda) have released their annual report on Port State Control. Port State Control (PSC) inspections have proved to be a highly effective tool for eliminating substandard ships that may be in operation, … Continue reading

 
cmb-banner-mirror
 

CMB reports final half year results 2014


During its meeting of 26 August 2014, CMB’s board of directors approved the final consolidated accounts for the six months period ended 30 June 2014. The consolidated result for the first half of 2014 amounts to USD -2.812.000 (2013: USD 22.788.000). As … Continue reading

 
SBI Offshore Limited
 

SBI Offshore Commences Negotiations with Middle East-Chinese Consortium to Build Up to Five Jack-Up Drilling Rigs


SBI Offshore Limited (“SBI Offshore” or the “Group”) announced today that the Middle East-Chinese consortium (“Consortium”), which recently awarded its subsidiary a contract to provide design and engineering services for a jack-up drilling rig, has commenced discussions with the SGX Catalist-listed company to build … Continue reading

 
Van Oord
 

Van Oord dredger returns to Gibdock


Part of the Van Oord fleet, the 137m long trailing suction hopper dredger, Lelystad, has been through an extensive programme of works at Gibdock in Gibraltar. The vessel was in dock for an initial 26 days, then went alongside the South Mole before … Continue reading

 
major coal mine
 

India: Foreign coal traders delay supply talks as price rise seen


International coal traders are delaying talks for supply contracts with India as they want to see if the Supreme Court will cancel coal block allocations in its 1 September verdict, which could give them better realizations from India. “Indonesian miners … Continue reading

 
Nordic Maritime
 

Statoil claims new DP2 Multi-Purpose Offshore Vessel Mokul Nordic for North Sea charter


Nordic Maritime, a leading offshore service operator, today announced its newest DP2 vessel, Mokul Nordic, has been contracted for a 30 days firm + optional 15 days charter in the North Sea by international energy provider, Statoil.  “At Nordic Maritime, … Continue reading

 
Strategic Marine
 

Strategic Marine announces Third Generation offshore crew transfer vessel


Strategic Marine, a specialist shipbuilder for the oil & gas sector, today unveiled its Generation 3 crew transfer vessel for the international offshore markets. The Strategic Marine Gen 3 40-metre boat is the latest model produced from a long background … Continue reading

 
Commodities5
 

India’s Commodity futures witness 65% drop in trade volume in FY’15


Trading volume at India’s commodity exchanges fell 64.89% year-on-year to Rs 14.55 lakh crore in April to June 2014-15, according to market regulator, Forward Markets Commission (FMC). During April to June 2014, the total value of trade in all commodities … Continue reading

 
Mega drybulk platform Star Bulk
 

Mega drybulk platform Star Bulk – keel firmly in place


Remember when any mention of Private Equity (PE), at a conference or in an article, was followed by the word “consolidator”, as in joining separate companies together? The “roll-up”, another finance word, where smaller companies are placed together in a … Continue reading

 
China steel
 

China steel output growth doesn’t gel with coking coal: Russell


Something doesn’t quite add up with China’s rising steel production, but falling coal output and imports so far this year. China’s raw steel output was 480.76 million tonnes in the first seven months of 2014, up 2.7 percent from the … Continue reading

 
Zim ship
 

ZIM reduces second quarter loss to $67m


ZIM reduced its net loss in the second quarter to $67m, its final three-month reporting period prior to undertaking restructuring. In the second quarter of 2014 ZIM reported a net loss of $67m compared to a loss of $97m in … Continue reading

 
LANXESS
 

LANXESS – Flexible in the Arctic Ocean


Shipbuilding is seen as an indicator of the state of the world economy. That is why a recent report caused some excitement – it would seem that the industry is recovering. And not just in South Korea, which has occupied … Continue reading

 
 
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