Baltic Index Up on Firmer Capesize Demand
The Baltic Exchange's main sea freight index, tracking rates for ships transporting dry bulk commodities, rose for an 11th straight session on Wednesday, helped by stronger demand for capesize vessels.* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 4 points, or 0.3 percent, to 1,574 points.* The capesize index gained 51 points, or 2.4 percent, at 2,199 points.* Average daily earnings for capesizes, which typically transport 170,000-180,000 to
Singapore Bunkering Hub Ready for IMO 2020
Singapore authorities are taking measures to ensure the availability of low-sulphur marine fuels ahead of upcoming emissions regulations in 2020, Singapore's Senior Minister of State for Transport and Health Lam Pin Min said on Wednesday."(The) MPA is working closely with the industry to ensure that Singapore is ready to supply low-sulphur compliant fuels ahead of 1 January, 2020," said Lam at the Singapore International Bunkering Conference and Exhibition.The Maritime and Port Authority of Sing
Exxon Mobil Eyes Major Investment at Singapore Refinery
Exxon Mobil Corp is considering a multi-billion dollar investment at its Singapore refinery, the company's largest, ahead of new global shipping fuel regulations starting in 2020, a senior executive said on Wednesday."We are currently assessing a multi-billion project in our integrated manufacturing facility here in Singapore," Matt Bergeron, vice president of Asia Pacific Fuels Business at Exxon, said at a bunkering conference."Should the project proceed…
Braemar Shipping Service Chairman to Retire
Braemar Shipping Services announced that its Chairman, David Moorhouse, plans to retire from December 31, after nearly 14 years as a Non-Executive Director, the last three as Chairman. Moorhouse said he is willing to serve longer, if required, to facilitate the appointment of a suitable replacement. His retirement is part of a planned reduction in his business workload to facilitate his participation…
New Catamaran “Unicat” in Argentina
In September 2018, a 17 x 5 meter catamaran completed its final tests in the Tigre Delta of theTigre on the Parana River near Buenos Aires, Argentina prior to its delivery to her Chilean owners.The cat was designed by Eng. Emilio Noel and built by Astilleros Unidelta SA. which has a well-established reputation in a wide range of steel and aluminum workboats. The yard has a plant located in Buenos Aires with 10,000 cubic meters of open and 4,000 cu.m. of covered work space.
US Crude Oil Shipments to China Halt Amid Trade War
U.S. crude oil shipments to China have "totally stopped", the President of China Merchants Energy Shipping Co (CMES) said on Wednesday, as the trade war between the world's two biggest economies takes its toll on what was a fast growing businesses.Washington and Beijing have slapped steep import tariffs on hundreds of goods in the past months. And although U.S. crude oil exports to China, which only started in 2016…
Coast Guard Airdrops Food to Disabled Cargo Ship
The U.S. Coast Guard airdropped a large supply of food to the crew of a cargo ship that is adrift approximately 1,380 miles southeast of Bermuda after the vessel became disabled while transiting from Greece to Haiti.The Coast Guard was notified Sunday morning that the 250-foot Tanzanian-flagged cargo ship, Alta, with 10 people onboard, was disabled and unable to make repairs. The crew reported that they had enough food for two days and water for 15 days…
Subsea 7, OneSubsea Bag Gulf of Mexico Contract
Offshore oil services firm Subsea 7 has announced the award of a sizeable contract by Fieldwood Energy to Subsea Integration Alliance, a global partnership between Subsea 7 and OneSubsea…
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