Asia-Europe Box Rates Drop 22.4 pct
Shipping freight rates for transporting containers on the world's busiest route have dropped by more than 20 percent for the second consecutive week and are now at their lowest level since July 24. Spot rates fell 22.4 percent to $456 from ports in Asia to Northern Europe after a fall of 22.9 percent last week, one source with access to data from the Shanghai Containerized Freight Index told Reuters. Container freight rates have so far increased in 8 weeks this year but fallen in 28 weeks.
Kenya Raids Suspected Drug Ship
Kenyan police raided a ship docked in the Indian Ocean port of Mombasa on Friday, on suspicion that it carried drugs and firearms, officials said. East Africa has…
Maersk Orders 9 Tankers from Samsung Heavy Industries
Maersk Tankers, a unit of Danish conglomerate A.P. Moller-Maersk, has placed a $300 million order for nine medium-range tankers from Samsung Heavy Industries' Ningbo shipyard in China.
Aframax Tanker Designed for Arctic Shipping
A modern Aframax-sized tanker concept designed for transporting crude oil and oil product in the Arctic has been developed via collaboration between Deltamarin Ltd. and Aker Arctic Technology Inc. In creating the new tanker concept, Deltamarin said it drew upon its expertise in affordable energy efficient cargo vessels, together with Aker Arctic’s track record in Arctic vessels. Apart from being ice strengthened and equipped with other new features…
Industry Award for Simrad Halo Pulse Compresssion Radar
Simrad Yachting announced today that Simrad HALO Pulse Compression Radar has been awarded the National Marine Manufacturers Association (NMMA) Innovation Award in the OEM Electronics category at the 2015 International BoatBuilders’ Exhibition & Conference (IBEX). Simrad HALO Pulse Compression Radar range is the world’s first high-performance solid-state, open-array radar system with pulse compression technology, suitable for recreational and light marine markets.
Commission Appointments at Long Beach Port
The Long Beach City Council on Tuesday confirmed the appointments of Long Beach City College executive Lou Anne Bynum and former City Councilman Doug Drummond to second terms on the Board of Harbor Commissioners. Mayor Robert Garcia announced the reappointments last month. Both Bynum, the Harbor Board Vice President, and Drummond, a former Board President, were originally appointed by Garcia’s predecessor, Mayor Bob Foster.
Swire Pacific Acquires Fourth PSV
Shipowner and operator, Swire Pacific Offshore Operations (Pte) Ltd (SPO) celebrated the delivery of its latest Platform Supply Vessel (PSV), Pacific Grackle on Thursday, 17 September 2015 in Japan. The G Class series is the latest addition to SPO’s fleet and is specially commissioned to meet the increasing market demand for PSV vessels. These vessels, with their 4,000-tonne deadweight, are powered…
APM Terminals Liberia Sees Economic Recovery
Addressing the US - Liberia Trade & Investment Forum in New York City, APM Terminals Liberia Managing Director George Adjei points to a 30% increase in import container traffic at Liberia’s largest port as a reason for great confidence in Liberian investment. At the US-Liberia Trade & Investment Forum held on September 16th in mid-town Manhattan, Vice President of the Republic of Liberia, Joseph N.
Wah Kwong Acquires DNV GL's ShipManager
Wah Kwong Ship Management (HK) Limited will adopt DNV GL’s ShipManager integrated fleet management software suite to further improve operational efficiency, data transparency and safety reporting. Wah Kwong is a leading provider of maritime transport in the bulk carrier, tanker and LPG segments, operating a current fleet of 26 vessels, with nine more newbuilds on the way. Wah Kwong’s implementation…
ABB Orders Cable-laying Vessel
ABB informs it has ordered a cable-laying vessel from Kleven shipyard in Norway. The new ship, scheduled to be delivered in 2017, will be custom-built to ABB specifications and measure approximately 140 by 30 meters. “This next-generation vessel incorporating state-of-the-art ABB technologies will be a key differentiator for our high-voltage cable business, enhancing flexibility and execution ability,” said Claudio Facchin, president of ABB’s Power Systems division.
Offshore Wind Energy Within Reach for North Carolina
As part of President Obama’s Climate Action Plan to create American jobs, develop domestic clean energy sources and cut carbon pollution, the Bureau of Ocean Energy Management (BOEM) today announced it completed an important environmental review, allowing BOEM to move forward with its process for considering a renewable energy lease sale offshore North Carolina. BOEM’s revised environmental assessment (EA)…
Jan De Nul Acquires Jack-up Heavy Lift Vessel
The dredging and maritime management company Jan de Nul Group signed the acquisition of the offshore facility vessel Vidar, which previously worked for the German company Hochtief. The facility vessel Vidar, which is less than two years old, was specially built for installing offshore wind farms at sea and is one of the largest of its kind in the world. “With the Vidar in our fleet we considerably extend our specialized services for the installation of offshore windparks…
Ceona Ship Goes to Court Appointed Administrator
UK offshore vessel owner Subsea contractor Ceona has gone into administration, with the loss of 102 jobs. Ceona and Ceona Services (UK) Ltd have been hit by the depressed subsea market caused by the low price of Brent crude oil. The group – a heavy subsea engineering contractor operating in the deep water oil and gas market – has ceased trading and 102 employees will be made redundant from the firm, which was headquartered in London but had offices in Aberdeen and Houston.
Chinese Shipyard Orders Plunge
New ship orders at Chinese yards have fallen 68.3 percent to the end of August as tough conditions prevailed in the global shipping market, Global Times reported quoting data from the China Association of the National Shipbuilding Industry (CANSI). Accoring to experts said the discouraging figure will exacerbate the problems of the country’s struggling shipyards. CANSI said that due to the slack market, order backlogs and prices for new ships also fell.
Shell, BG Merger Faces Roadblock
The Australian Competition and Consumer Commission (ACCC) has raised concerns that Royal Dutch Shell's proposed $70 billion takeover of BG Group may lessen gas supply competition in eastern Australia and delayed a final decision on the bid to November. The competition watchdog said, after preliminary investigations, the proposed takeover could damage the interests of east coast and Queensland gas users and force up prices.
Polarcus Gets West Africa Contract
Polarcus Limited has announced it has received a letter of intent for a 3D marine seismic project in West Africa. The client was not disclosed by the Dubai-based seismic vessel operator…
Belships Signs Deal with Imabari
Belships has entered into a sale and leaseback agreement with a Japanese counterpart for the ship M / S Belforest. Belforest, 61,000 dwt Ultramax bulk carrier is…
Dry bulk shipping, Tankers Fall Down
All stocks under Drewry Maritime Equity Research (DMER)’s dry bulk coverage were down and recorded double-digit negative returns, taking cues from vessel earnings. The BDI shed its gain of the previous two months and nudged down 20% m/m in August led by a fall in the Capesize index. Capesize rates were adversely affected by ample tonnage and lacklustre demand from China. For example, spot rates in…
MSC India Wins MALA Award
For the 6th consecutive year, the Maritime and logistics awards (MALA) ceremony took place on 4th September at the Leela Hotels, Andheri east, Mumbai. The awards, which were started in 2009 by the Nikhil Modi’s Exim team, are the most prestigious awards for the shipping fraternity in India. All major carriers participate in these awards and are assessed purely on company performance and year on year growth. Winners are selected by a jury comprising VIPs from the Shipping & Logistics Industry.