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Statoil Charters ULCC to Hold Crude for Asia buyers
Oil storage is feasible with low freight rates, capital costs; backwardation pushes traders to churn oil faster from storage. Norway's Statoil ASA has chartered…
Topaz Signs with Orange for a Maritime Connect Solution
Dubai-based Topaz Energy and Marine has signed an agreement with Orange Business Services for a Maritime Connect solution that connects its fleet at sea and supports the corporate network. Topaz is an offshore support vessel company for the global energy industry. The Orange integrated communications platform increases the efficiency of the fleet, lowers cost and improves the onboard experience for crew.
Kalmar, MSC Pact for Container-Handling Equipment
Kalmar, part of Cargotec, is to continue its cooperation with Mediterranean Shipping Company (MSC) with a new order for container-handling equipment. The order,…
Warning on Hazards of Carrying Bauxite by Ship
A new warning that bauxite may become unstable when carried in bulk on a ship, potentially causing the vessel to capsize, has been issued by the International Maritime Organization (IMO).
Dryad Maritime Urges for Overhaul of Maritime Intelligence Industry
Dryad Maritime is calling on the maritime industry to develop a Standardisation Agreement (STANAG) setting minimum standards for the production of intelligence. "The threat is changing.
Hoegh Autoliners Denies Price-fixing Allegations
Norwegian shipping firm Hoegh Autoliners denied on Tuesday allegations made by South Africa that it and Japanese rival Mitsui O.S.K Lines had colluded to fix transport tariffs to and from South Africa. Hoegh Autoliners specializes in transporting cars, controlling 50 specialized vessels or 6-7 percent of the global fleet in this market. South Africa's Competition Commission said on Tuesday Hoegh Autoliners had been referred for prosecution on seven charges relating to collusive tendering…
More Cargo, Slower Steaming Support VLCC Rates
VLCC rates from MidEast to Asia gain around $3,000; higher chartering volumes for peak winter season could lift rates. Freight rates for very large crude carriers…
MOL Car Carrier's First Call at Port of Kisarazu
Mitsui O.S.K. Lines (MOL) announced that on August 31, the MOL-operated car carrier Swan Ace (capacity: 6,400 standard passenger cars) called at the Port of Kisarazu…
Vitol Signs Deal with Angola LNG
Angola LNG (ALNG) and Vitol, the world’s largest independent energy dealer, have entered into a multi-year LNG sales agreement. Under the agreement, ALNG cargoes…
Cargo Ship Sinks near Oman
A Tanzanian-flagged cargo ship sank off the Omani coast due to leaked sea water, reported Bahrain News Agency. Twenty sailors were saved. The report quoted Authorities…
VLCC, Product Tanker Rates Headed in Opposite Directions
No impact on VLCC rates yet from Hurricane Harvey, even as rates for smaller product tankers double. Freight rates for very large crude carriers (VLCCs) on Asian…
Harvey Interrupts Asia LPG Exports from Gulf Coast
Harvey delays at least 300,000 T of U.S. LPG shipments. Shipments of liquefied petroleum gas (LPG) from the United States have been held up by the havoc wrought…
Asia VLCC Rates Fall to Four-year Low
Freight rates for very large crude carriers (VLCCs) on Asian routes show little sign of reviving although Hurricane Harvey, which threatens to ravage the U.S. Gulf coast oil refining industry over the weekend, could provide a fillip, brokers said. That came as average weighted VLCC freight rates on all routes sank to their lowest in four years this week to around $9,000 per day. Rates are even lower…
CMA CGM to Strengthen its Presence in South America
The CMA CGM group, a world leader in container shipping, announces the reshuffling of two services in addition to the MERCOSUL buyout project and pursues its development strategy in South America…
Damen CEO Berkvens Receives CEMT Award
The Council of the Confederation of European Maritime Technology Societies presented Damen CEO René Berkvens with the CEMT Award on Thursday, August 24, at Damen Shipyards Gorinchem. The Council bestows the award annually in recognition of the substantial contribution made to the success of the European maritime industry by an individual, company or organization. The contribution can be either technological, political or economic.
Shipbuilding: Mega Yards
The Woodmac report we saw offered us cause for pause — “Strong activity from the (major oil companies)” while “national oil companies have tightened their purse strings.” What Maritime Reporter found, was that national oil companies — nation-builders, for many — are putting their money in affiliate shipyards. The hope of two, new shipbuilding giants is jobs, innovation, national survival and export security.
Clean Tanker Rates Soar on Strong Fuel Consumption
Mideast demand especially strong due to refinery outages. Rates for tankers carrying refined fuels like gasoline and diesel have soared this month as trade activity…
Grindrod Plans to Spin off Shipping Business
Grindrod, the South Africa-listed freight logistics and shipping services firm, is planning to separate and list its shipping business in order to unlock its value, the company said on Wednesday. Grindrod, which also has a financial services business, has held the view for many years that the value of its shipping services was not fairly reflected in its share price. Executive Chairman Mike Hankinson said the board has resolved to investigate a separate listing of the business offshore.
Hutchison Ports, Basra Port in Management Deal
Hong Kong-based port operator Hutchison Ports has agreed to partner with NAWAH Port Management (NPM) to manage existing and future operations at the Port of Basra in southern Iraq.
IMO, Liberia to Enhance Maritime Security
International Maritime Organization (IMO) is helping Liberia to develop a national maritime security strategy. The initiative got underway with a week-long fact…
Maritime Piracy
Houthi Rockets Wreak Havoc on Middle East Container Shipping
Narco-Submarines: The Hidden Depths of Drug Trafficking
Drug Smuggling on Ships and Submarines: An Escalating Threat
Maersk revises profit forecast upwards due to robust demand and disruptions in the Red Sea.
Global Shipping Carriers Are Feeling the Impact of the War in Ukraine and the Middle East
Maritime Piracy in the Horn of Africa:
Houthis Declare All-Out War on Israeli Shipping, Vowing to Strike Beyond Red Sea
Injustice at Sea: Greek Court Drops Charges in Deadly Migrant Shipwreck
