Baltic Index Remains Flat on Monday
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, remained flat on Monday as demand for capesize vessels was offset by weaker demand for panamax vessels.* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was flat at 1,773 points.* The capesize index gained 22 points, or 0.6 percent, to 3,654 points.* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such a
Low Water Hinders River Shipping in Germany
Water levels on the Rhine and Danube in Germany remain low as a drought and heatwave continues and freight vessels cannot sail fully loaded on the rivers, traders said on Monday.The Rhine is too shallow for normal sailings from Duisburg to southern Germany, traders said. All of the German section of the Danube is too shallow for full loads, they said.“Vessels are still sailing but are sometimes operating less than half full,” one vessel broker said.
Stanford Marine in Talks About Sale of Business
Creditors of Stanford Marine Group (SMG), which has links to troubled private equity firm Abraaj, are in talks with three potential buyers, sources familiar with…
UASC Sues World Fuel Services
Dubai-based shipowner United Arab Shipping Company (UASC) has filed suit against Miami-based marine fuels provider World Fuels Services (WFS) seeking relief from…
Prosafe Signs Pact with Cosco
Norwegian contractor Prosafe and COSCO Shipping (Qidong) Offshore Co have come to an agreement on three newbuild offshore accomodation units being built in China."Prosafe…
DP World: Djibouti Not Recognizing ‘International Rule of Law’
DP World, the fourth biggest port operator globally, issued a response saying Djibouti’s refusal to acknowledge a London Court of International Arbitration ruling…
India's Jal Marg Vikas Project on River Ganga on Full Steam
Even as the work on the development of Jal Marg Vikas Project (JMVP) on River Ganga is going on in full steam, a team of Inland Waterways Authority of India (IWAI)…
Petronas Delivers First LNG Cargo to Hokkaido Electric
Malaysian state-owned oilcompany Petroliam Nasional Bhd (Petronas) through its subsidiary, Malaysia LNG (MLNG) delivered its first liquefied natural gas (LNG) cargo…
Bahri Successfully Concludes ‘SAIFI’ Program
Bahri, a global leader in logistics and transportation, has successfully completed the first edition of ‘SAIFI’, a summer training program for undergraduate students in the Kingdom…
One Minato Shines Through Port of Yantian
Ocean Network Express East Asia (ONE EA) has celebrated the maiden voyage of the second of a series of seven 14,000 TEU-class magenta containership of the company…
New CEO Sketches Port of Newcastle Expansion Plans
The new CEO of the Port of Newcastle, Craig Carmody, committed the Port of Newcastle to developing a world-class container terminal to boost jobs and business opportunities…
New DPS Repositioning Function for Boats
Volvo Penta is enhancing its Dynamic Positioning System to include Repositioning functionality, meaning boaters will be able to make minor alterations to their vessel’s…
Subsea 7 Signs on for FutureOn Planning Software
Norway-based digital technology innovator FutureOn announced a multi-license contract for its Field Activity Planner (FieldAP) software with Subsea 7, a leading…
BIMCO ECSA Leadership Meeting in Athens
The BIMCO President, Anastasios Papagiannopoulos and European Community Shipowners’ Associations (ECSA) President, Panos Laskarides met in Athens recently to discuss…
Höegh LNG Secures Debt Financing for 9th FSRU
Norway's floating storage and regasification unit (FSRU) giant Höegh LNG said it has secured a USD 177 million debt financing for its FSRU delivery unit number 9.
Hapag-Lloyd on 2020 Low Sulphur Fuel
LSF2020 refers to the new “Low Sulfur Fuel” regulations, which will come into effect on 1 January 2020.These regulations are the biggest of a series of steps by…
Thun Tankers Adds Tanker
Thun Tankers will strengthen the existing fleet with m/t Wisby Teak, said a press release from the company.The Wisby Tanker owned vessel will enter the Gothia Tanker…
Auto Collision Avoidance Project for Vessel Safety
Mitsui E&S Shipbuilding (MES-S), Mitsui O.S.K. Lines (MOL), Tokyo University of Marine Science and Technology (TUMST), Akishima Laboratories (Mitsui Zosen) announced that on July 25…
Star Bulk Carriers Completes Acquisition of 16 Dry Bulk Vessels
Star Bulk Carriers Corp. announced that it has consummated the previously announced acquisition of 16 dry bulk vessels in an all-share transaction, from entities…
Eidesvik Offshore, Wärtsilä Norway and DNV GL Celebrate FellowSHIP
Project partners Eidesvik Offshore, Wärtsilä Norway and DNV GL have announced the closure of the FellowSHIP research project. The cooperation has explored the use of battery…
