Drewry: Breakbulk Market Weak Until 2017
Although demand growth is expected to recover next year after a very poor 2015, and supply growth is likely to be minimal, competition from other sectors will maintain pressure on the breakbulk shipping market, according to the latest edition of the Multipurpose Shipping Market Review and Forecaster, published by global shipping consultancy Drewry. The IMF has downgraded its expectations for both GDP and trade volume growth for 2015 and 2016.
BWM Convention Ratified by 47 Countries
Ballast Water Convention ratifications by Morocco, Indonesia and Ghana welcomed. Ratification of the Ballast Water Management (BWM) Convention by Morocco, Indonesia…
ABB Services Over 300 Turbochargers for CSCL
ABB Turbocharging, part of the power and automation technology group, announced it has signed its third and largest Operation Performance Package service agreement with China Shipping Container Lines (CSCL), the logistics and containerized transportation company based in Shanghai, China. The contract covers the service and provision of spare parts for 113 turbochargers on 23 vessels, including 51 TPL type and 62 VTR type turbochargers.
As Freight Rates Fall, LNG Shippers Brace Consolidation
Faltering LNG demand, growing tanker fleet drag on freight rates. Shippers who ply the seas to deliver liquefied natural gas (LNG) in massive tankers are likely…
Greece Awaits Final Piraeus Port Bids
Greece expects binding bids to be submitted later on Monday for a majority stake in Piraeus Port Authority, operator of its biggest port, but will not announce the…
DP World London Gateway Hires Head of Commercial Port
DP World London Gateway Port has appointed James Leeson to the role of Head of Port Commercial following the announcement that Tabare Dominguez is to become Commercial Director at DP World Vancouver. Leeson started in the role this month, bringing with him more than 20 years of international experience in the shipping and ports industry. He was most recently Head of Commercial for Associated British Ports (ABP) Humber region, covering the ports of Immingham, Hull, Grimsby and Goole.
BSM Opens Mooring Station Training Facility
Bernhard Schulte Shipmanagement (BSM) announced the opening of its new mooring station training facility, designed to provide seafarers and cadets with experience of this crucial and potentially hazardous area of operations. The facility is based at Subic Bay in the Philippines, and designed to work in conjunction with a interactive training portfolio comprising video learning and class discussion around case studies from real life scenarios.
UASC, Lukoil Enter Lubes Supply Deal
Container shipping line United Arab Shipping Company (UASC) and the Dubai-based marine lubricant specialist Lukoil have signed a lubricant supply agreement covering vessels from UASC’s advanced newbuilding program. UASC is currently implementing a newbuilding program that includes 17 new vessels on order; six x 18,800 TEU and 11 x 15,000 TEU containerships. Lukoil Marine Lubricants has already supplied eight of the 17 container ships with advanced lubrication solutions.
Departure of M/V Berlin Postponed
The completion of the new Scandlines ferry M/V Berlin, which will be inserted on the ferry route between Rostock (Germany) and Gedser (Denmark), is in its stage in the Danish yard FAYARD.
Fastnet Appoints Non-executive Director
In line with the Company's strategy to acquire companies or businesses in the healthcare sector, Fastnet has appointed Mr. Harry Stratford as a Non-Executive Director with immediate effect.
ISS, CGG Ink Brazil Agency Deal
Inchcape Shipping Services (ISS), the world's leading maritime and logistics service provider, has signed a contract with CGG to provide offshore agency support…
Wärtsilä Waterjets for Australian Ferry
The Incat Tasmania Pty shipyard in Hobart, Australia has again specified Wärtsilä waterjets and controls for a new fast ferry, the 'KatExpress 3', being built for Danish operator Mols-Linien.
Carnival's Earnings Up 40%
Carnival Corporation reported a 40 percent increase in its results for the full fiscal year ended November 30. Strong operational execution delivered $0.25 per share…
Sovcomflot Completes IT Integration Project
PAO Sovcomflot (“SCF Group”), Russia’s largest shipping company and a global leader in seaborne energy transportation and offshore services, announced the completion…
Three Dead, Dozens Missing After Indonesian Ferry Sinks
Indonesian rescue teams continue their search todau (Monday) for 78 people still missing at sea, after their ferry ran into bad conditions, took on water and sank…
Black Sea MOU - New Inspection Regime
Quality ship operations will be rewarded with a reduced inspection burden when the Black Sea MOU launches its new inspection regime on 1 January 2016. The Black…
Swedish Shipping Joins Fossil Free Initiative
The Swedish Shipowners Association has expressed its disappointment that shipping was not included in the new climate agreement that was struck in Paris by countries…
Delay 'Likely' in Opening of Expanded Panama Canal
The opening of a newly expanded Panama Canal, previously scheduled for April, will be postponed due to cracks detected in the new set of locks that are the centerpiece of the $5.25 billion overhaul…
Dynagas LNG Partners Acquires LNG Carrier
Dynagas LNG Partners LP has entered into an agreement with Dynagas Holding Ltd to purchase 100% of the ownership interests in the entity that owns and operates the Lena River…
CMES Orders Six VLCCs at Dalian Shipbuilding
China Merchants Energy Shipping Co Ltd (CMES) has firmed up orders to build six very large crude carriers (VLCCs) at Dalian Dalian Shipbuilding Industry Corp for $522 million, reports Reuters.
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