Panamax Props Up Baltic Index
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, nudged up on Monday as panamax rates rose for fifth straight session, offsetting weakness in capesizes.The overall index, which factors in rates for capesize, panamax and supramax vessels, rose four points, or 0.2 percent, to 1,727 points.The panamax index rose 21 points, or 1.4 percent, to 1,506 points.Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about
Third US Soybean Vessel Left in Limbo Unloads Cargo in China
The Cemtex Pioneer, a vessel carrying U.S. soybeans that was caught up in the China-U.S. trade row, has left east China's port of Nantong near Shanghai, according…
Hoegh LNG to Supply FLNG Terminal to Australian Import Project
Norway's Hoegh LNG has won a tender to supply a floating LNG import terminal for a consortium aiming to import liquefied natural gas to Australia's east coast from 2020 in a push to boost local supply.Australian Industrial Energy, a consortium that includes Japan's JERA and Marubeni Corp, said on Monday it signed an agreement giving it the right to lease one of Hoegh LNG's floating storage and regasification units (FSRU), to be docked at Port Kembla.The project needs approvals from the state of
Bangladesh's First FSRU Starts Operations
Bangladesh started operations at the country's first liquefied natural gas (LNG) terminal on Saturday after ironing out teething issues related to technical problems and bad weather, two sources famil
S.Korean Shipbuilders Jump over Rising LNG Tanker Prices
South Korea's shipbuilders jump after an industry report notes rising prices of liquefied natural gas tankers that is set to benefit the country's shipbuilders.Shares of Hyundai Heavy Industries soar 9.2 pct, while those of Daewoo Shipbuilding & Marine Engineering jump 9.7 pct.Samsung Heavy Industries adds 5.7 pct, after it secured a contract worth 412 billion won ($368 million) to build two LNG carriers for a ship owner in North America.The stock price gains reflect the report issued by Clarkso
Shell Ships 'Slurry Oil' from Singapore to UAE
In an unusual arbitrage move, Shell International Eastern Trading Company (SIETCO) has chartered a tanker to ship up to 80,000 tonnes of slurry oil from Singapore…
China Shifts to Iranian Tankers to Keep Oil Flowing Amid US Sanctions
Chinese buyers of Iranian oil are starting to shift their cargoes to vessels owned by National Iranian Tanker Co (NITC) for nearly all of their imports to keep supply flowing amid the re-imposition of economic sanctions by the United States.The shift demonstrates that China, Iran's biggest oil customer, wants to keep buying Iranian crude despite the sanctions, which were put back after the United States…
V.Group Sets Out to Transform Crewing
Marine and offshore vessel management and support services provider V.Group has engaged with management consultancy Accenture to transform its approach to crew management. Named Embark, the project seeks to develop an in-house shared services model which streamlines and optimizes key processes for V.Group’s seafarers, customers and colleagues. Embark will see the introduction of new and enhanced technology…
- 1
- 2
