Capesize Indices Rise
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index rose 626 points in the week ending Monday, Feb. 14, to 4,449. "Charterers who had been watching the…
Cargo Ship Goes Down Quickly After Collision
A Portuguese-owned cargo ship sank in 90 seconds after colliding with a larger Italian vessel last Monday, and 13 of its 14 Spanish crew were feared dead, officials said.
Mersey Docks and Harbour Announces Record Profits
Mersey Docks and Harbour Company Plc, the U.K.'s number two port operator last week said full-year profits reached record levels. The group, which owns the Port of Liverpool…
“Old Ship” Fears Drive Tanker Markets Higher
North Sea crude markets held steady mid last week, as a combination of high freight rates and absences at industry functions subdued trade. Dated Brent was assessed…
Capesize, Panamax Markets Remain Firm
The dry cargo freight market remained firm for Capesize tonnage worldwide and for Panamaxes in the east, brokers said mid last week. Conditions remained weak for…
NLNG Buys Two Gas Vessels
Nigeria Liquefied Natural Gas (NLNG) purchased two vessels owned by Duke Energy to transport gas from the Bonny LNG plant. The company said it had long-term chartered…
Germany Will Seek $6.3M From Kvaerner
The European Commission asked Germany to recover $6.31 million in subsidies from Kvaerner ASA because a production ceiling at a German shipbuilding subsidiary had been breached in 1997.
