Baltic Index Posts Weekly Gain on Firmer Vessel Rates
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, on Friday marked its first weekly gain in three as rates for capesize and panamax vessels improved. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 2 points, or 0.16 percent, at 1,219 points. It rose 8.4 percent this week. The capesize index rose 20 points, or 1.14 percent, to 1,772 points.
CMA CGM Takes Delivery of 20,600 TEU Flagship
French shipping group CMA CGM said it has taken delivery of its new flagship, the first in a series of three new 20,600 TEU containerships. The French flagged CMA CGM Antoine De Saint Exupery will enter into service on February 6 on the FAL 1 service (French Asia Line 1), which connects Asia to Northern Europe. CMA CGM said the new 400-meter long and 59-meter wide box ship features a Becker Twisted…
Jefferies Upbeat on LNG, LPG and Dry Bulk Shippers
Jefferies optimistic on stocks of LNG, LPG and dry bulk shippers With spot rates at 4-year highs, brokerage says, "we believe additional LNG liquefaction terminals will continue to stimulate LNG shipping demand above and beyond LNG shipping supply growth" All shipping sectors to improve through 2018, 2019; "seasonal patience will be required in the dry bulk, refined products and crude tanker sectors" - Jefferies Improvement in global economic conditions and Chinese preference for hig
TMC to Equip FPSO Newbuild
Oslo based compressor supplier TMC Compressors said it has won a contract to supply the marine compressed air system for a new floating production storage and offloading…
Kawasaki Kisen, 3 Others Plan LNG Bunkering Venture
Kawasaki Kisen Kaisha, Chubu Electric Power , Toyota Tsusho, and Nippon Yusen KK say they have started discussions to launch a business supplying liquefied natural gas (LNG) to fuel ships.
Samsung Heavy to Issue New Shares
South Korea's Samsung Heavy Industries Co Ltd plans to issue new shares worth 1.56 trillion won ($1.47 billion), the company said on Friday. The world's third-largest…
30 Drown off Yemen After Boat Capsizes
At least 30 African refugees and migrants drowned off the coast of Yemen this week in a boat heading towards Djibouti operated by smugglers who are reported to have fired on passengers…
How Sanchi's Spill Could Spread
The worst tanker oil spill in decades is unfolding across hundreds of miles of the East China Sea after an Iranian oil tanker carrying more than 100,000 tonnes of…
Fast-growing Global Trade Boosts Fuel Demand
Freight movements in the United States and around the rest of the world are growing at some of the fastest rates this decade, which should provide a big boost for diesel consumption in 2018.
Piraeus Port Contracts Huawei to Upgrade Network
Piraeus Port Authority (PPA) SA and the Huawei Technologies SA are pleased to announce the contract conclusion for the modernization of the PPA network infrastructure.
Siemens Gamesa Gets DNV GL Type Certificate for Wind Turbine
DNV GL has awarded Siemens Gamesa Renewable Energy with the Type Certificate for its eight megawatt (8 MW) offshore wind turbine SWT-8.0-154. Fully compliant to…
Navy, NASA Complete Underway Recovery Test
With their main role of conducting amphibious operations, San Antonio-class ships have unique capabilities that make them an ideal partner to support NASA's mission.
Young Endeavour Celebrates 30 Years
The Royal Australian Navy operated Sail Training Ship Young Endeavour celebrated 30 years of challenging and inspiring young Australians at Fleet Base East on Thursday, January 25, 2018.
HMM Rolls Out ‘-60ºC Ultra-Freezer’ Service
South Korea's Hyundai Merchant Marine (HMM) announced that it started its first ‘Ultra-Freezer’ service from Busan, Korea to Barcelona, Spain, based on its rich…
New Marine Security Recommendations for Southern Red Sea
In response to the threats arising from the conflict in Yemen, BIMCO, ICS and INTERTANKO have published interim guidance on maritime security in the southern Red Sea and Bab al-Mandeb.
Navios Maritime Partners Growing With Panamax Vessels
Greek owner and operator of dry bulk and container vessels Navios Maritime Partners has agreed to acquire two 2006-built Panamax vessels with a capacity of approximately 74…
Drewry’s Global Reefer Freight Rate Index Up for Consecutive 4Q
Reefer trades have something of a reputation for volatility both in terms of volumes and freight rates, yet Drewry’s Global Reefer Freight Rate Index has recorded…
Port Authority of Strasbourg Partners with HAROPA
The Port Authority of Strasbourg (PAS) in France and port operator HAROPA of the Port of Le Havre have inked an agreement regarding four areas of cooperation – in rail…
Coral EnergICE Named in Finland
The first liquefied natural gas (LNG) carrier to hold 1A Super ice class was named Coral EnergICE during a ceremony at the Port of Turku, Finland on January 25. The 18,000-cubic-meter capcity Coral EnergICE was constructed by German shipbuilder Neptun Werft for owner Anthony Veder, and will be operated by Skangas to transport LNG to the Skangas terminal in Pori and the joint venture Manga LNG terminal Tornio in Finland.
Seadrill Postpones Court Hearing for Restructuring Talks
Drilling rig company Seadrill said in a court filing it postponed an initial hearing on its restructuring plan to Feb. 7, which sources told Reuters will give the company more time to consider alternative restructuring plans. Once the largest drilling rig operator by market value, Seadrill filed for bankruptcy protection in Texas on Sept. 12 after being hit hard by cutbacks in oil company investment following a steep drop in crude prices.
