Euro Zone Trade in Goods Surplus Shrinks as Exports Drop
Euro zone's surplus for goods traded with the rest of the world dropped in May as exports fell and imports increased, one month before United States' tariffs on European steel and aluminium kicked in, official data showed on Monday.The European Union's statistics office, Eurostat, said the 19-country currency bloc had a goods trade surplus of 16.5 billion euros ($19.3 billion) in May, compared with 19.3 billion a year earlier…
Baltic Index Rises on Strong Capesize Rates
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Monday, driven by strong rates for capesize vessels.* The overall index - which factors in rates for capesize, panamax and supramax shipping vessels - rose 29 points, or 1.7 percent, to 1,695 points, levels last seen in December.* The capesize index was up 82 points, or 2.6 percent, at 3,238 points, highest since December.* Average daily earnings for capesizes, which typically transp
Low Water Levels Hinder River Shipping in Germany
Water levels on the Rhine and Danube in Germany remain low after recent dry weather and cargo vessels cannot sail fully loaded on some sections of the rivers, traders said on Monday.The Rhine is too shallow for normal sailings from Cologne to south Germany, traders said. All of the German section of the Danube is too shallow for full loads, they said.Shallow water means vessel operators impose surcharges on freight rates…
Tidewater and GulfMark Announce Merger
Tidewater Inc. and GulfMark Offshore, Inc. announced Monday that the boards of directors of both companies have unanimously approved a definitive agreement to combine the two companies, creating the industry’s largest owner of offshore support vessels and continuing consolidation in the offshore sector.The combined company will be operated under the Tidewater brand and will be led by Tidewater president and CEO John Rynd…
Bisso Offshore Orders New Tugs from Eastern
Estern Shipbuilding Group announced it has signed a new contract with Bisso Offshore, LLC for the construction of two Robert Allan Ltd. RApport 2400 Ship Handing Tugs with escort capability.
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