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Asia Tankers-VLCC Rates to Hold Steady
25 MidEast cargoes still to be fixed; VLCC rates fall to 4-month low. Freight rates for very large crude carriers (VLCCs), which hit a four-month low on Thursday…
Asia Dry Bulk-Capesize Rates to Hold Steady
Floor may have been reached on Western Australia-China rates; dry cargo demand could fall 5.4 pct in first quarter. Freight rates for large capesize dry cargo vessels…
2017-2021 Tanker Market Outlook: McQuilling
McQuilling Services has released its 20th Anniversary Edition 2017-2021 Tanker Market Outlook. This 200-page report provides a five-year spot and time charter equivalent…
Asia Tankers-VLCC Rates to Hold Steady
Unipec charters 20 VLCCs for West Africa, MidEast cargoes; China's oil demand to climb 3.4 pct this year - CNPC. Freight rates for very large crude carriers (VLCCs)…
Asia Tankers-VLCC Rates to Slide on Lower Cargo Volumes
34 VLCC MidEast cargoes fixed for early Jan -Reuters terminal; only nine fixed so far for mid-Jan. Freight rates for very large crude carriers (VLCCs), which hit a new nine-month high this week…
Moody's: Global Shipping Challenged by Oversupply
Moody's outlook for the global shipping industry in 2017 is negative, reflecting continued oversupply and a 7%-10% decline in EBITDA. Dry bulk freight rates will remain low due to subdued demand…
Asia Tankers-VLCC rates to Slip from Eight-Month Highs
Rates gain 10 Worldscale points in a week; but rates in 2017 may be lower than this year -Bancosta. Freight rates for very large crude carriers (VLCCs) may slip…
Eastern Launches Towboat for IWL River
Eastern Shipbuilding Group, Inc. has launched the Impala Mompox (Hull #245) on October 24, 2016. This is the third in a series of four Inland River Towboats for IWL River, Inc. This series of CT Marine designed 134 ft. ABS Classed Inland River Service towboats are Triple Screw with a Retractable Pilothouse and all are currently under construction at Eastern’s Allanton facility. The vessel deliveries are scheduled to start in late 2016 and continue into 2017.
GOGL Sinks into Loss
* Reports a net loss of $26.7 million and a loss per share of $0.25 for the third quarter of 2016, an improvement of $12.5 million compared with a net loss of $39.2…
Tuco to Deliver Net Cleaning Boats for Fish Farming
Following vessel deliveries to the offshore business and governmental organizations in Norway, Tuco Marine will now also deliver to the Norwegian Aquaculture industry. Two ProZero 15m boats have been sold as high pressure cleaning boats to Norwegian AKVA Group. Designed by a team of skilled engineers, through collaboration with multiple world leading aqua cultural experts, the 15 meter boats are developed…
Asia Tankers-VLCC Rates Steady, Owners Resist Further Cuts
Daily VLCC earnings fall to around $10,000; vessel deliveries, shorter voyages weigh on rates. Freight rates for very large crude carriers (VLCCs), which fell to multi-year lows on Thursday…
Q4 Bounce Forecast for Dry Bulk Market
The Q4 bounce – a seasonal staple of the dry bulk markets – looks likely for Capesize and Panamax segments, but the effects may be limited. Independent research and consultancy firm Maritime Strategies International (MSI) is forecasting a fourth quarter bounce in dry bulk market earnings, driven by improving iron ore, coal and grain trades. In its latest Dry Bulk Freight Forecaster, MSI sees positive…
Eastern Launches Towboat for IWL River
Eastern Shipbuilding Group, Inc. has launched the second vessel in a series of four new inland river towboats for IWL River, Inc. The newly built vessel, Impala Puerto Salgar (Hull #244), was launched on August 2, 2016. The series of CT Marine designed 134 ft. ABS Classed Inland River Service towboats are Triple Screw with a Retractable Pilothouse and all are currently under construction at Eastern’s Allanton facility.
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…
Drones: Is the Maritime Industry Ready?
Unmanned aerial systems (UAS), or “drones” in common parlance, are not a part of the historical maritime vocabulary. At least not yet. While the term “drones” may conjure images from science fiction, the reality is that companies are designing commercial UAS for the private sector, and they are gradually permeating our daily life. Henry Ford is rumored to have opined on his invention of the automobile that if he had asked people what they wanted…
Asia Tankers-VLCC Rates to Hold, Ample Tonnage Weighs
"Pure" chartering market with little disruption. Rates to hold around W45 for Middle East; W48 for West Africa. Freight rates for very large crude carriers (VLCCs)…
Slippery Orders in Ship Building
The situation of the shipyards in the world and in particular the struggles of the Korean shipbuilding industry has received a fair amount of attention in the shipping press…
Asia Dry Bulk-Capesize Rates Could Rise in Short Term
Shipowners seeking $10 per tonne from Brazil-China; dry cargo demand to remain subdued this year. Freight rates for large capesize dry cargo ships on key Asian routes…
Negative Outlook for Global Shipping Industry: Moody’s
Moody's Japan K.K. says that its outlook for the global shipping industry over the next 12-18 months is negative. "The negative outlook reflects our expectation that earnings will worsen…
Pressure Steady on LNG Shipping Rates -Drewry
LNG shipowners will have to wait until 2018 for earnings to improve, when the majority of new US plants are expected to come online, according to the latest edition…