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Asia Dry Bulk-Capesize Rates Firming
Stable cargo flow needed to push rates higher; half of capesize vessel deliveries delayed in Q1. Freight rates for large capesize dry cargo ships on key Asian routes…
Moody's Lowers 2016 Outlook on Global Shipping
Moody's Investors Service has changed its outlook on the global shipping sector to negative as it expects supply growth to outpace demand growth in 2016 by more than 2 percent…
Report Calls for Shipping Liners to Consolidate
The need of the hour is consolidation of container ship lines order to regain profitability and to overcome financial struggles, consulting firm AlixPartners says in a new report.
Matson Declares 4Q EPS of $0.60, FY EPS $2.34
Matson, Inc. today reported net income of $26.6 million, or $0.60 per diluted share for the quarter ended December 31, 2015. Net income for the quarter ended December 31…
Small Ships the Potential Bright Spot in Miserable Dry Bulk Market
The latest Dry Bulk Freight Forecaster from Maritime Strategies International (MSI) reports a deterioration of the consultancy’s cautiously optimistic view for improvement…
LNG Shipping Rates to Remain Under Pressure in 2016
LNG shipping earnings will remain under pressure in 2016 as accelerating fleet growth and changing trade patterns will weaken supply-demand conditions, according…
McQuilling Releases 2016-20 Tanker Outlook
McQuilling Services has announced the release of the 2016-2020 Tanker Market Outlook. This report is a five-year outlook for eight vessel classes across 18 benchmark…
Boxship Fleet Growth is Slowest in 25 Years
Global container ship capacity is expected to increase by 4.6 percent in 2016, the slowest growth rate in more than 25 years, giving some relief to an industry hammered by oversupply…
Drewry: LPG Shipping Rates Heading for a Fall
LPG shipping rates are expected to decline from the second half of 2016 as a bloated orderbook for VLGCs (very large gas carriers) fuels fleet growth that will far exceed shipping demand, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry. VLGC earnings have had another stellar year, averaging above $2.0 million per calendar month in the period to September 2015.
Harley Marine Selects Cat Power & Propulsion
Seeking a complete power and propulsion system designed specifically for tug operations, Seattle-based Harley Marine Services turned to Caterpillar—ordering four Cat 3516 marine propulsion engines and four Cat Propulsion Marine Thruster Azimuth – Tug (MTA-T) rated drives. These units will power two new Harley Marine harbor tug vessels currently under construction at Diversified Marine Incorporated, a shipyard in Portland, Oregon.
Tanker Rate Spike Dents Efforts to Store Oil Glut at Sea
Record high freight rates are creating more headaches for traders looking to house millions of barrels of unsold crude oil and who already face potential losses due to record high stocks.
Moose Boats is Keeping Busy
U.S. Moose Boats, a boat designer and manufacturer in the San Francisco Bay Area, announced two recent vessel deliveries: a M2-35 Catamaran Patrol Boat to the Placer County Sheriff’s Office in Carnelian Bay, Calif., and a M2-38’ 3,000GPM Fire Rescue Catamaran to the Bellingham Fire Department in Bellingham, Wash. The builder has received an additional order to build a M2-38 Catamaran CBRNE Emergency Response and Recovery Vessel for the New Bedford Fire Department in Massachusetts.
ABS' Wiernicki: The Head of Class
The Head of Class: Christopher J. The global maritime industry faces myriad challenges in the ongoing quest to run safe, profitable operations in an oftentimes tumultuous environment. More than ever vessel owners are faced with daunting regulatory and technical challenges, and the world’s leading classification societies remain the foundation upon which successful marine operations are built. Last month we visited with Christopher J.
Asia Dry Bulk-Capesize Rates Impacted by China Holidays
Weak holiday demand to pressure rates lower. Rebound seen after China returns to market on Oct 8. Freight rates for capesize bulk carriers could come under pressure…
Scorpio Tankers to Sell Assets, Upsize Credit Facility
Press release - Scorpio Tankers announced an agreement to sell STI Highlander, newbuilding vessel deliveries, and the upsizing of a previously announced credit facility.
Great Lakes Shippers Want 'Float Down' to End
U.S. and Canadian vessel operators on the Great Lakes are urging the public to not participate in the Port Huron Float Down scheduled for August 16, the Lake Carriers’ Association (LCA) and Canadian Shipowners Association (CSA) said in a joint press release. The annual event, which fills the seven-mile stretch of the St. Clair River from Port Huron to Marysville with thousands of people in all manner of craft…
Eastern Launches Second MPSV for Hornbeck
Eastern Shipbuilding Group, Inc. has launched the second of two 302’x76’x26’ multipurpose service vessels in the HOSMPSV 310ES series for Hornbeck Offshore Services, LLC., the shipbuilder announced. The new vessel, HOS Woodland (Hull 242), was launched at Eastern’s Allanton facility on Friday, June 19 at an event with hundreds of Eastern employees and guests in attendance. HOS Woodland is the second…
Possibly the Worst Quarter on Zero DSV Utilisation
According to a research note released today from UOB Kay Hian, Singapore offshore vessel operator Pacific Radiance achieved an ominous vessel utilization of 0% for…
The Hour of the Wolf for Panamaxes - Platts Report
Shipowners operating in the trans-Atlantic dry bulk market, where prices have been plumbing two-year lows on the back of acute vessel oversupply and shifting patterns in minerals demand…
Tanker Shipping's Fortunes Rest on US Shale Oil Production
How much US shale oil production is taken out of service will be a key driver of future tanker shipping earnings, according to the latest edition of the Tanker Forecaster…