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Next Week

Suezmax Rates Set To Soar

Surging Suezmax tanker rates are set to soar if Iraqi exports come back on stream next week, shipping brokers contend. Rates for the one million barrel tankers have lifted to around 100 Worldscale points on fixtures from West Africa and the North Sea to the U.S., and on cross Mediterranean and North Sea routes, brokers said.


Businessman To Discuss Titanic Replica

South African businessman Sarel Gous is expected to visit Belfast next week to discuss plans to build a replica of the Titanic and launch it as a commercial cruise liner. Gous reportedly paid Harland & Wolff, the builders of the original Titanic, to do a feasibility study and is traveling to Belfast to meet city council members and discuss his plans. In 1998 Gous secured the original plans of the Titanic, which was owned by the White Star shipping line


Mississippi River Traffic Stalled

Mississippi River barge traffic near Burlington, Iowa, remained backed up on Thursday after lock 18 in Gulfport, Illinois, reopened Wednesday afternoon after a day-long shutdown, river officials said. Lock 18 was closed Tuesday morning when a breakaway barge caused two loaded barges to sink near the lock and left six other barges adrift at the dam. "We've got two barges still floating in the dam and two sunk, with the salvage unit on the way to clear it out


Casino Boat to be Unveiled

According to the Chicago Sun Times, pending regulatory approvals, the grand opening of the new $170 million gambling vessel at the Blue Chip Casino & Hotel in Michigan City, Ind., will be celebrated next week. It will mark the culmination of a two-year on-site construction project. The new boat will feature a 65,000-sq. ft. casino on one level and is reported to have the largest hull of any casino boat in the nation.


Asian Panamax Rates Edge Higher

Asian Panamax freight rates for dry bulk cargo in the Pacific market edged higher this week on the back of pre-Lunar New Year holiday grain purchases and persistent coal shipments, shipping agents said. But brokers said they expected freight rates to show signs of weakness next week as several Asian countries would be on holiday. "Chartering activity will slow down next week as many countries in the Asian region close for the Chinese New Year," said one domestic broker


Anti-Fouling Legislation Coming From IMO

Next week at the IMO in London a Diplomatic Conference will be held to finalize the details of the Convention on the Control of Harmful Anti-fouling Systems. In particular the phasing out of tin based (TBT) anti-fouling systems will be finalized with a system put in place to assess future anti-fouling systems. INTERTANKO, together with the other main industry representatives ICS, Intercargo, SIGTTO, OCIMF and Bimco have submitted a paper to the Conference focusing on those issues which


“Old Ship” Fears Drive Tanker Markets Higher

North Sea crude markets held steady mid last week, as a combination of high freight rates and absences at industry functions subdued trade. Dated Brent was assessed near last deal done at April Brent +95 cts, with Brent CFD swaps for this week also in that area. Next weeks CFDs are seen around April Brent +90 cts. Institute of Petroleum week in London is keeping trade to a minimum, as are high freight rates caused by an exodus of older vessels out of Europe in the wake of the Erika spillage


Valdez Port Sees Fewer Tankers After Prudhoe Problems

The Valdez crude export terminal has seen a modest decline in the number of crude tankers in recent weeks, as oil companies reduce shipments in light of the problems in Prudhoe Bay oil production, the Valdez terminal manager said Thursday. The Valdez terminal, the crude export facility at the end of the 800-mile Trans-Alaska Pipeline System, will receive four tankers this week and about the same number next week. That's a drop-off from last week's level and from typical traffic levels


Oil Prices Slip Again

U.S. oil prices slid for the second straight day on March 9 as traders speculated on the size of a widely-expected supply cut by the OPEC producer cartel next week. On the New York Mercantile Exchange (NYMEX) crude oil for April delivery settled 38 cents lower at $28.01, little changed over the week. Traders turned cautious as a Saudi official said that though the oil producers' cartel was heading toward its second production cut this year when it meets next week


U.S. Oil Prices March Forward

U.S. oil prices resumed their upward climb on Monday, egged on by word from OPEC that the cartel had a consensus to slash output output by next week, Reuters reported By early afternoon, crude oil for February delivery on the New York Mercantile Exchange was trading at $28.30 a barrel, a 35-cent rise, taking total gains in the last six trading sessions to $2.50 a barrel, or ten percent. A statement by OPEC Secretary-General Ali Rodriguez on Sunday spurred the day's advance.


GCT Statement on Vancouver Truckers Dispute

Stephen Edwards, President & CEO of GCT Global Container Terminals Inc., issued a statement on Port Metro Vancouver’s trucking dispute. “Due to the backlog of import cargo in containers held on our terminals caused by the trucking dispute


Port Canaveral Harbor Expansion Begins

Photo: Port Canaveral

Dispute remains over who pays for maintenance costs for federal channel. The $35 million harbor widening and deepening project at Port Canaveral to allow larger ships greater safety margins for sailing in and out of the port is scheduled to begin next month with completion in November 2014


W.Africa Crude-Traders on Sidelines

West African oil differentials were unchanged on Friday, with traders on the sidelines as they assessed the impact of lower North Sea supply and awaited a clearer outlook for Libyan exports.     The supply of North Sea crude that underpins the Brent benchmark will average 774


Obama Offers US Aid to S.Korea Following Ferry Accident

Photo courtesy South Korea Coast Guard

U.S. President Barack Obama on Thursday expressed condolences to the families of the victims of the South Korean ferry sinking and said the U.S. military will provide the country with any help it needs to perform rescue operations. Rescuers are battling strong waves and murky waters as they


LCS 6 Launched at Austal

The future USS Jackson (LCS 6) launched from the Austal USA shipyard in Mobile, Ala., Dec. 14, marking a production milestone for the littoral combat ship program. Jackson joins the future USS Milwaukee (LCS 5), which will launch from the Marinette Marine Corp. yard in Wisconsin next week.


Crew of Detained Ship Headed Home

aos.jpg

The Apostleship of the Sea (AoS) welcomes the repatriation of the stranded crew of the Donald Duckling, a ship detained in the River Tyne for the past seven weeks.   The seafarers’ welfare organization has been providing practical support to the crew of the vessel since it was


Final Sea Trials for "Chemical Weapon Destruction" Ship

MV Cape Ray: Image Wiki CCL

The US Military Sealift Command ship 'MV Cape Ray' has left Portsmouth, Va., to conduct final sea trials in preparation for its upcoming mission to destroy Syrian chemical weapons. During the sea trials, the crew and the Field-Deployable Hydrolysis System operators are evaluating the ship and the


China-built Livestock Carriers Christened for Vroon

Gelbray Express & Girolando Express: Photo credit Vroon

Two new specialised livestock carriers have been named 'Gelbray Express' & 'Girolando Express' in a ceremony at the COSCO shipyard in Guangdong, China. Vroon inform that the godmothers are Ms Sophie Wang, Managing Director Landmark Global Exports Pty Ltd


Angola LNG Compressor Leak Delays Loading Program

By Oleg Vukmanovic, Reuters A compressor leak at Angola's new liquefied natural gas (LNG) export plant has delayed loading programs and reduced output at the $10 billion project, which is due to shut for two months from July, a site manager said.


Papp Delivers Final State of the Coast Guard Address

File photo: ADM Bob Papp, U.S. Coast Guard Commandant

U.S. Coast Guard Commandant Adm. Bob Papp delivered his final State of the Coast Guard address at Coast Guard Headquarters, St. Elizabeths Campus, Washington, D.C., Wednesday. Papp provided an overview of programs and issues of the last four years and also looked ahead to what the Coast Guard


Panama Canal Expects Work Deal Thursday

Photo courtesy Panama Canal Authority

By Lomi Kriel, Reuters The Panama Canal Authority expects to formally sign a deal next week with a Spanish-led consortium to finish work on expansion of the waterway after a dispute over cost overruns held up completion, an official said on Friday.


Hearing: Environmental Regs’ Impacts on Maritime Transportion

The Subcommittee on Coast Guard and Maritime Transportation, chaired by Rep. Duncan Hunter (R-Calif.), will hold a hearing next week examining the impacts of federal environmental regulations on maritime transportation. This will be the second part of a two-part hearing to review the status


LNG Spot Prices Drop; Demand Dips from Brazil, Japan

By Oleg Vukmanovic and Jacob Gronholt-Pedersen,  Reuters Asian spot liquefied natural gas (LNG) fell this week as demand from Brazil's Petrobras slackened and top Japanese buyers switched to cheaper fuels and relied more on supplies under long-term deals.


PortMetro Labour Dispute: Tentatative Agreement Reached

PortMetro aerial view: Photo courtesy of the Port

Reuters –  Container truck drivers at Canada's largest port have reached a new deal, narrowly avoiding an expanded job action that would have seen some 400 unionized drivers join about 1,200 non-unionized drivers who walked off the job last week.


Container truck drivers reach tentative deal at Vancouver port

Container truck drivers at Canada's largest port reached a new deal on Thursday, narrowly avoiding an expanded job action that would have seen some 400 unionized drivers join about 1,200 non-unionized drivers who walked off the job last week.


 
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