Stolt-Nielsen's Q3 Numbers Disappoint
Shipping firm Stolt-Nielsen reported third-quarter earnings below forecast on Thursday and said it remained worried by the expected influx of new product tankers in 2016 and 2017.
U.S. East Coast Threatened by Hurricane Joaquin
Hurricane Joaquin was gaining strength on Thursday as it moved toward the Bahamas, with forecasts still inconclusive on whether the storm would slam into the U.S.
Asia Dry Bulk-Capesize Rates Impacted by China Holidays
Weak holiday demand to pressure rates lower. Rebound seen after China returns to market on Oct 8. Freight rates for capesize bulk carriers could come under pressure…
Hurricane Joaquin to Impact Bahamas
Hurricane Joaquin will bring high winds and a storm surge to the Central Bahamas through Thursday night, the U.S. National Hurricane Center said in its latest advisory.
Crowley Acquires Jones Act Tankers
Crowley Maritime Corp. took delivery of Ohio, the first of four new, Jones Act, product tankers this week from Aker Philadelphia Shipyard, Inc. (APSI), the wholly-owned U.S.
Aker ASA Equity Holdings Restructured
Aker ASA has on 30 September 2015 transferred its equity holdings in Converto Capital Fund AS to Aker Capital AS, a wholly-owned subsidiary of Aker. As per 30 September 2015…
Transas Support for Philippines MET
The rapid growth and development of the Philippine maritime training market caused a dramatic increase in demand for state-of-the-art simulation systems compliant…
Regulations for Singapore's Kusu Pilgrimage Season
The 2015 Kusu Pilgrimage season will commence on 13 October 2015 and end on 11 November 2015. During this period, many ferries and harbour craft carrying passengers…
Italy's Eni Arrives Arctic as Shell Departs
As Shell retreats from the Arctic, the Italian oil giant Eni is making final preparations for its own oil exploration venture in the Norwegian Arctic, reports the Guardian.
Saga Cruises Orders New Ships
Saga Cruises has placed an order for a new cruise ship to be built by Meyer Werft in Germany with the delivery date of Summer 2019. The deal comes with an option…
Japan's Chase for Australian Subs Deal
Japan has confirmed it is ready to build Australia’s submarines entirely at local shipyards, after stumbling in its effort to win the A$50 billion ($34.76 billion) contract, reports Reuters.
Moody's Changes Hapag-Lloyd to Positive
Moody’s Investors Service (Moody’s) changed the rating for German Container shipping company Hapag-Lloyd to positive from stable, thanks to cheaper fuel. According…
Russia to Deepen Novorossiysk for Larger Ships
The Russian government plans to spend between $400 to $500 million to expand and deepen the harbor of the Novorossiysk seaport to handle larger vessels, reports Moscow News.
Indonesian Parliament Okays Subs from Russia
Indonesia signaled its intent to purchase two submarines from Russia to bolster its current fleet, reports the Jakarta Post. The government's plan to purchase Kilo…
Allowing US Oil Export Could Push Crude Prices Higher -CBO
Lifting the ban on U.S. crude exports could push the price of domestic oil up roughly $2.50 a barrel in the coming decade, a report from the Congressional Budget Office said on Wednesday.
Insufficient Steel Found in Panama Canal Locks Sill
The seepage found in the Panama Canal’s third set of locks is said to be the result of an inadequate amount of steel reinforcement, the Panama Canal Authority (ACP) announced today. ACP said it was informed by the contractor responsible for the design and construction of the locks, Grupo Unidos por el Canal, S.A. (GUPC), that the localized seepage found in the concrete sill between the lower and middle…
Weapons Bound for Yemen Seized on Iranian Boat
Saudi-led coalition forces said on Wednesday they had seized an Iranian fishing boat loaded with weapons on its way to deliver them to Houthi fighters in Yemen.
Hurricane Joaquin Continues to Strengthen
Joaquin, the third hurricane of the 2015 Atlantic season, continues to strengthen and is likely to develop into a major hurricane in the next couple of days as it moves toward the Central Bahamas, the U.S. National Hurricane Center said on Wednesday. Joaquin, now a Category 1 hurricane, is located about 190 miles (305 km) east-northeast of the Central Bahamas with maximum sustained winds of 85 miles per hour (135 km/h), the latest advisory said.
White House Does Not Support Efforts to Lift Oil Export Ban
The White House does not support efforts by the U.S. Senate to lift the ban on oil exports, despite provisions in the legislation allowing the president to halt…
Weaker Capesize Demand Pulls Down Baltic Index
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry-bulk commodities, fell on Wednesday, primarily due to lower demand for capesize vessels. The overall index, which factors in average daily earnings of capesize, panamax, supramax and handysize dry-bulk transport vessels, dropped 26 points or 2.81 percent to 900 points as rates fell across vessel segments. The capesize index was down 95 points, or 4.68 percent, at 1,936 points.
