Baltic Index Marks First Gain in 13 days on Higher Capesize Demand
The Baltic Exchange's main sea freight index, tracking rates for ships transporting dry bulk commodities, snapped its 12-day losing streak on Thursday, powered by a rise in demand for capesize vessels.* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 11 points or 1.1 percent - after falling 12 sessions in a row - to 1,020 points.* The capesize index marked its first gain in 12 days…
Japanese, South Korean Trawlers Collide in Sea of Japan, 13 Rescued
At this stage, the rescue operation is being taken care of by private fishing vessels, and our patrol boats have already arrived in the area. The damage to the Japanese…
Floating LNG Storage in Asian Waters Soars as Demand Falters
As many as 20 LNG tankers floating in Asian waters; most off Singapore. The last time tankers used for storage was in 2014.Tankers storing liquefied natural gas (LNG) in Asian waters have more than doubled in number since late October as traders have been caught off guard by warmer-than-expected temperatures that have capped demand and pulled down prices.Spot market demand ahead of winter has been slowed by the forecasts for warmer temperatures this year in North Asia…
ADNOC LNG Wins Extension of Gas Supply Contract to 2040
The Abu Dhabi National Oil Company (ADNOC), has agreed, in principle, to extend to 2040 its gas supply agreement with ADNOC LNG, in coordination with ADNOC LNG’s joint venture partners…
Sovcomflot Gets $149m Credit Facility for LNG Carrier
Russian maritime shipping company Sovcomflot has signed a new USD 149 million credit facility, for up to 10 years, with a consortium of three leading international banks…
Global Container Trade Lost Momentum in Q3: Maersk
Global container trade continued to lose momentum in Q3 2018, with growth down to around 2.7% compared to Q3 2017, said A.P. Moller - Maersk in its Q3 interim report.Year-to-date…
MPC Container Ships Plans Huge Investment in Scrubbers
The Oslo-based feeder tonnage owner MPC Container Ships has committed to buy exhaust gas cleaning systems (scrubbers) for five of its ships, with an option to buy…
Hyundai Merchant Marine Loss Grows in Q3
South Korea's largest shipping firm by sales Hyundai Merchant Marine (HMM) said that its operating loss in the third quarter increased to 123.1 billion won (US$108.65…
Taiwan to Begin Shipbuilding at Suao Port
Lung Teh (LT) Shipbuilding Company formally received construction permits for the site at Suao Port, according to Taiwanese government sources.The company will start…
Nokia, ABB and Kalmar Trial 5G Technology for Harbor Automation
Nokia, ABB and Kalmar, part of Cargotec, have successfully conducted industrial trials that leverage the low latency capabilities of 5G to support time-critical…
COWI Expands in US Offshore Wind Energy
In a major developement, international consulting group COWI announced it plan to increase its presence in the USA significantly with the consultancy contract with…
Five Container Shipping Gaints Form Digital Collaboration
Five container shipping companies - MSC, A.P. Moller – Maersk, CMA CGM, Hapag-Lloyd, and Ocean Network Express - intend to create an association with the purpose of paving the way for digitalization…
GONDAN Launches New Hybrid Icebreaker Tug
GONDAN Shipyard in Figueras, at high tide, has launched a new hybrid-powered icebreaking escort tug designed by Robert Allan Ltd for Port of Luleå (Sweden).This…
Belgium Naval & Robotics, Flanders Ship Repair Join in MCM Program
Belgium Naval & Robotics has launched an industrial offer anchored in Belgium to respond to a call for tenders issued by the Belgian and Dutch navies for the supply…
NYK, YLK Hold Training Program
Japanese shipping major Nippon Yusen Kabushiki Kaisha (NYK) and Yusen Logistics (YLK) have jointly conducted their 2018 Global NYK/YLK Week recently in Japan.Twenty…
North Sea Port Opens Netherlands' Largest Solar Park
The Scaldia solar park officially opened in North Sea Port, the logistical heart of Europe. The firm ib vogt installed more than 140,000 solar panels, making this…
BMA Goes to Japan
As part of its strategy to make further inroads into the Japanese shipping market the Bahamas Maritime Authority (BMA) is opening its new office in the heart of…
China Strengthens Maritime Cooperation with Lativa
The the third largest container port in the world Port of Shenzhen Lativa's Freeport of Riga have a common goal - to become internationally important and strong ports through cooperation.Recently…
CargoX Launches the World's First Smart Blockchain Platform
Slovenia-based supplier of blockchain solutions for logistics, CargoX has launched the CargoX latform to become the first open, neutral, and accessible blockchain…
East Africa Opens it First Inland Dry Port
Dubai-based global port operator DP World and the Rwandan government have opened East Africa’s first Inland Dry Port, 20 kilometers from the capital city Kigali…
