Higher Panamax Rates Prop Up Baltic Index
The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, inched up on Friday on stronger panamax rates, but the index still registered a third consecutive weekly decline.* The overall index, which factors in rates for capesize, panamax and supramax vessels, gained 6 points, or 0.4 percent, to 1,490 points.* The index, however, fell 5.6 percent in the week.* The capesize index lost 13 points, or 0.5 percent, to 2,411 points, falling 11.7 percent fo
US Navy Seizes Thousands of AK-47s in the Gulf of Aden
More than 2,500 AK-47 automatic rifles were seized from a stateless skiff in the international waters of the Gulf of Aden at the end of August.U.S. Navy sailors aboard the guided-missile destroyer USS Jason Dunham (DDG 109) discovered the illicit weapons shipment during counter-trafficking mission on August 28.The Navy said 2,521 guns were confiscated from the skiff, which was determined to be stateless following a flag verification boarding conducted in accordance with international law.
Damen Chairman Meets with Romania’s Economy Minister
The chairman and owner of Damen Shipyards Group met with the Romanian Minister of Economy this week to discuss the future of the shipyard jointly operated by the shipbuilding conglomerate and the Romanian government.The Dutch shipbuilding group became joint venture partners with the Romanian government in July when it acquired Daewoo Shipbuilding & Marine Engineering's (DSME) share in the Romanian shipyard formerly known as Daewoo Mangalia Heavy Industries.
Stena Bulk Charters Out MR Tanker Pair to Petrobras
Stena Bulk said it has signed a contract with Brazil's state-owned oil company to charter out a pair of MR product tankers for transporting refined products along the Brazilian coast. The two-year deal includes the option to extend the charters for another 11 months.The 47,000 dwt tankers, Stena Conqueror and Stena Conquest, were built in 2003 and 2004 respectively.“We have a long-standing, highly…
Coral Leader to the Rescue
Coral Leader, a Pure Car and Truck Carrier (PCTC) owned by NYK supported the rescue operation of five people including two children onboard yacht. The yacht was in distress in the Mediterranean Sea…
Morten Mosegaard Christensen New CFO for Maersk Tankers
Maersk Tankers has appointed Morten Mosegaard Christensen as its new Chief Financial Officer (CFO).Christensen joins Maersk Tankers from Danske Bank where he serves as interim CFO and Chief of Staff.
Oceanic Systems Switch Suits More Engine Manufacturers
Oceanic Systems (UK) Ltd has just increased the menu of engine manufacturers which can be selected to present on the company’s sleek single-screen Multiple Engine Displays…
Kalmar STS for Curaçao Port Services
Kalmar, part of Cargotec has signed a contract for supplying two Kalmar Ship-to-Shore (STS) cranes, including related spare parts, to Curaçao Port Services, said…
Antwerp Port: Brexit Ready
The UK is the third-largest maritime trading partner for the port of Antwerp. In order to be fully prepared for Brexit the Port Authority is taking various initiatives…
Drewry: Capesize Charter Rates to Go Up
Drewry maintains a positive outlook on the dry bulk market and expects charter rates to improve from current levels, driven by moderate increases in vessel demand…
MOL Worldwide Logistics Establishes Hong Kong HQ for MOL NVOCC Operations
Mitsui O.S.K. Lines (MOL) announced the establishment, effective July 1, of MOL Worldwide Logistics (MWL), and that they will lead MOL Group non vessel operating…
Indian Ports Register Positive Growth of 5.13%
The Major ports in India have recorded a growth of 5.13% and together handled 288.38 MTof cargo during the period April to August, 2018 as against 274.32 MThandled…
IMO for Protecting Oceans and High Seas
Ships plying their trade across the world’s oceans are subject to stringent environmental, safety and security rules, which apply throughout their voyage. The comprehensive…
Iridium’s Maritime Business Continues Momentum
Iridium Communications Inc. announced today that KDDI Corporation, Navarino and NSSLGlobal Ltd., are the newest Iridium Certus service providers for the maritime industry. Iridium Certus will offer a L-band satellite broadband connectivity solution.With higher speeds, state-of-the-art small form factor terminals and competitive pricing options, Iridium Certus will offer a complete communications platform for all mariners and can serve as a primary service or VSAT companion solution.
LR Awards AIP to GE for ‘Digital Twin READY’
Lloyd’s Register (LR) has presented GE with an Approval in Principle (AiP) to ‘Digital Twin READY’, marking the first ever approval of a digital twin health management system for marine applications.At a press conference today during SMM trade fair in Hamburg, Germany, it was announced that Lloyd’s Register’s newly released Digital Compliance has been validated through a cocreation project with GE…
Ship Strikes Dredging Pipeline in Sabine Pass
Several vessels, including two oil tankers and one carrying liquefied natural gas, were stalled and unable to enter the Sabine Pass shipping channel near the Texas…
Brazil Minimum Freight Rates Hurt Port Cargos -Association Chief
Brazil's policy of setting minimum freight rates is reducing the volume of cargo at Brazilian ports as farmers and agricultural exporters have difficulty arranging transportation at higher cost, according to the head of a Brazilian ports association.The country instituted minimum rates for freight above the previous market rate as part of a deal to end a truckers' strike over high diesel prices in May.
Contract Extension for Tanker Stena Provence
Concordia Maritime said it has signed a contract to charter out the P-MAX tanker Stena Provence for another year from September 2018.The contractual partner is one…
MOL Trials Intelligent Awareness Technology
The capacity for Intelligent Awareness and machine learning technologies to significantly improve navigational safety has been verified by Rolls-Royce and Japanese shipping company Mitsui O.S.K. Lines, Ltd. (MOL), following the success of a pilot project aboard a 165m passenger ferry, Sunflower Gold.Results from sea trials on the vessel, which operates night-time sailings between Kobe and Oita, Japan…
First Warship Built in Egypt Launched
The first warship to be built in Egypt was launched during a ceremony on September 6, 2018 in Alexandria. The Port-Said Gowind corvette was constructed by Alexandria Shipyard through an industrial cooperation with France’s Naval Group.The new warship will contribute to increase the Egyptian Navy Power alongside the first ever delivered Gowind corvette, El-fateh, which is already already deployed by the Egyptian Navy.
