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Tanker Market: ‘New Normal’ Drives Downbeat Summer Sentiment
The tanker market is forecast to see challenging conditions with technical and structural factors impacting earnings, according to independent research and consultancy firm Maritime Strategies International (MSI). In its latest Tanker Freight Forecaster, MSI dismisses claims that current conditions in the bellwether VLCC freight market are entirely due to seasonality. Instead, MSI says dynamics reflect lower rates of crude import growth across the year combined with reduced waiting times and…
South Africa Ratifies Fishing Vessel Treaty
South Africa has become the seventh state to ratify the 2012 Cape Town Agreement. The treaty, which implements the Torremolinos Protocol, covers various fishing vessel safety requirements including radio communications, life-saving appliances and arrangements, and emergency procedures, musters and drills. Peace Kennedy, Counselor at the South African High Commission in London, presented the instrument…
Gibdock Records Busiest Season
Simultaneous attention to four offshore support vessels at Gibdock demonstrates that the Gibraltar yard is now a regional hub for this specialized repair, maintenance and renewal work…
Hot Month at Marseille Fos
In contrast to an international downturn, French port Marseille Fos has reported exceptional results for July with 7.8 million metric tons of cargo and 387,000 passengers…
First Oil from TEN Fields off Ghana
Ghana began pumping crude from a second offshore field operated by British company Tullow Oil on Thursday, hoping the additional revenue will boost its flagging economy. The Tweneboa, Enyenra and Ntomme (TEN) field expects to average around 23,000 barrels per day (bpd) in 2016, eventually reaching 80,000 bpd along with associated gas to be harnessed to ease a domestic power deficit. President John Dramani Mahama opened the valves on the $1 billion Floating Production…
Spain Rescues 50 Migrants Drifting between South Coast and Morocco
Spanish authorities said on Wednesday they had rescued 50 migrants from Morocco and sub-Saharan Africa who were found the day before drifting in two boats off Spain's Mediterranean coast.
Ghana's Vessel Tracking Deal for exactEarth
exactEarth Ltd. has been selected by the Fisheries Commission (West Africa Regional Fisheries Programme), an agency of the Ministry of Fisheries and Aquaculture…
Maersk Cautions on U.S. Protectionism
Danish conglomerate A. P. Moeller-Maersk A/S, the world’s largest container shipping company, has voiced its concern as a potential shift in U.S. policy threatens to reduce global trade…
Maersk Paints a Gloomy Picure
Danish shipping conglomerate A.P. Moeller-Maersk A/S has reported a plunge in profits in the second quarter in the face of tough market conditions. Maersk's quarterly…
CMA CGM Launches New EURAF 6 Service
CMA CGM Group has launched its new service EURAF 6 by cooperating with a partner under a slot swap agreement. Enhanced service coverage with a second loop direct…
Madagascar Workshop Promotes Dumping of Wastes at Sea Regulations
A national workshop promoting the treaty covering dumping of wastes at sea, the London Protocol, was held in Antananarivo, Madagascar (11-12 August). The workshop…
Asia Tankers-VLCC Rates Steady as Suezmax Fixtures Weigh
Charterers splitting VLCC cargoes into smaller Suezmax tankers; rates to remain around $24,000 per day, below break-even levels. Freight rates for very large crude…
Royal Navy Sailors Train with Wasp
The Royal Navy sent six Sailors, from Navy Command Headquarters in Portsmouth, England, to integrate into Wasp’s flight deck operations to prepare them for their…
Harris Pye to the Rescue for Damaged Hull Repair
Timing is all-important when repairs to a busy drillship are the order of the day. When Pacific International Drilling West Africa’s (PIDWAL) drillship Pacific Bora suffered damage to the starboard aft hull off the coast of Nigeria, PIDWAL called for assistance from the Harris Pye Engineering Group. The repair was successfully evaluated; all necessary specialists and labor, steel, tools and equipment were mobilized…
Libya's Largest Oil Port Begins Work
Libya has begun maintenance of the port of Es-Sider, biggest in the country of the terminal on oil export as part of plans to increase output from Africa’s biggest holder of crude reserves, says RNS.
LNG-Prices Slide, Middle East Boosts Imports
The new new supply of liquefied natural gas (LNG) from Russia's Sakhalin plant and weakening demand from Egypt helped snap a months-long rally. Hence Asian spotLNG prices fell this week…
Turkey Sets Import Tax on Thermal Coal
Turkey imposed a tax this week on imports of thermal coal from Colombia, Russia and other major exporters, for use in power generation, to support domestic coal production.
Asia Tankers-VLCC Rates to Fall but Bottom in Sight
VLCC owners sailing slower and idling vessels; slow market to continue into September. Freight rates for very large crude carriers (VLCCs), which hit multi-year lows on Thursday…
New Diving Training Ship Delivered to Tunisia
The Tunisian government has taken delivery of a new training ship, Zarzis A710, which will support diving and security works in air and sea areas of the Mediterranean. The vessel was built by Vittoria Shipyard SpA and commissioned by the Tunisian Defense Ministry as part of the Tunisian-Italian cooperation agreement signed in spring 2015. The Diving Support Vessel will be deployed by the Tunisian authorities…
Unipec to Shed ULCC Storage Charter
The UK-based trading arm of Beijing-backed Sinopec will give up the megatanker it booked to park crude in Asia at the onset of the drop in global prices two years ago, sources told Reuters.
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
