Baltic Index Vessel Rates Edge Higher
The Baltic Exchange's main sea freight index rose on Wednesday as rates improved across all vessel segments, even as shipping activity remained subdued due to the coronavirus outbreak in China.The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, rose 15 points, or 3.3%, to 465, the highest since Feb. 3.The capesize index gained for a third straight session…
Hapag-Lloyd Raises 2019 Operating Profit by 80%
German container shipping line Hapag-Lloyd raised its 2019 operating profit by 80% to 811 million euros ($875.47 million) as it earned higher freight rates and cut costs, the Hamburg-based firm reported on Wednesday."The main drivers of the positive business developments have been improved freight rates as well as rigorous cost and revenue management," said the company, the world's fifth biggest operator, in a statement on preliminary results.Operating earnings before interest and taxes (EBIT) h
France Wants Customs Controls in Irish Sea in Post-Brexit Talks
France on Wednesday said it was imperative that negotiations over a future trade relationship between Britain and the European Union included customs checks in the Irish Sea.British Prime Minister Boris Johnson struck a divorce deal with the EU last October that leaves the United Kingdom's province of Northern Ireland inside the UK customs area but all EU procedures will apply to goods arriving there."There must be controls in the Irish Sea"…
Japanese Doctor Blasts Ship Quarantine
A Japanese infectious disease specialist has castigated his government's handling of quarantine on a coronavirus-stricken cruise ship, saying it was run by "bureaucrats"…
Measuring the Hostile Ocean Beneath Hurricanes
Unmanned Vehicles Collect Data for Improving Storm ForecastsThe influences of ocean conditions and currents on living environments are now more widely appreciated—from the Earth’s climate and severe weather conditions to fisheries and biodiversity. Sustained and widespread measurements are needed to provide essential clues for understanding the oceans, for effective monitoring of environmental changes…
IHC Launches Dredger for NMDC
Dutch shipbuilder Royal IHC launched a new trailing suction hopper dredger (TSHD) for the United Arab Emirates' National Marine Dredging Company (NMDC) during a ceremony at IHC’s shipyard in Kinderdijk, The Netherlands.The TSHD Ghasha is based on the 6,000-cubic-meter TSHD Arzana, delivered by IHC in 2018.According to IHC, the new TSHD has a number of innovations, including an enlarged hopper capacity of 8,000 cubic meters and a larger dredging depth of 45 meters.
2020 Vision
The Congress worked hard and most importantly together at the end of the recently-concluded First Session in December to finalize and pass Fiscal Year (FY) 2020 appropriations that included the Energy & Water Development (E&WD) Appropriations bill that funds the U.S. Army Corps of Engineers’ (Corps) work on the nations’ waterways.By law, 60 days after the President signs the E&WD appropriations bill, the Corps must release a Work Plan that shows specific allocations for funding projects.
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