Islamic State Attacks Libya's Es Sider Port
Islamic State fighters clashed with security forces near Libya's Es Sider oil export terminal on Monday killing two guards and setting an oil storage tank on fire…
Asia-Europe Box Rates Soar 115 pct
Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped 115 percent to $1,232 per 20-foot container (TEU) in the week ended on Friday, data from the Shanghai Containerized Freight Index showed. Average rates for 2015 were $620.30 per TEU compared with $1,171.50 in the previous year. In the week to Friday, container freight rates soared 146.5 percent from Asia to ports in the Mediterranean, jumped 98.2 percent to ports on the U.S.
Unipec Delivers 1st al-Shaheen oil in Platts Process
Unipec, the trading arm of Asia's largest refiner Sinopec, will deliver the first al-Shaheen crude cargo to Chinaoil following trades during the Platts Market on…
COSCO, China Shipping Merger Will Creat New Firm
China Ocean Shipping Group Co (COSCO) and China Shipping Group Co will become a new entity after merging, led by the latter's current chairman, China's state-owned assets regulator said on Monday.
Coast Guard Advises Western River Closures, Restrictions
The United States Coast Guard has issued a number of river closures, restrictions and advisories in response to floods in the Midwest. To keep the public and professional mariners apprised of changes to river traffic, the 8th District will continue to issue press releases capturing all closures and restrictions throughout this period of high water and flooding. Upper Mississippi River closed between mile markers 184 and 179 near St. Louis, Missouri.
ST Engineering’s Secures $344m in 4Q2015
Singapore Technologies Engineering Ltd (ST Engineering) said that its marine arm, Singapore Technologies Marine Ltd (ST Marine) has secured new orders worth about…
ClassNK Open Survey Office in Novorossiysk
ClassNK opened a new exclusive survey office in Novorossiysk, Russia with operations beginning January 1, 2016. Novorossiysk is a port city in southwest Russia facing the Black Sea. It is the country’s main port on the Black Sea and a leading Russian port for trade with Asia, the Middle East, the Mediterranean region, Africa and South America. The Novorossiysk office joins an existing network of survey offices throughout the region including in Constanta (Romania) and Istanbul (Turkey).
NTSB Releases El Faro Images & Video
Subsea images and video released as part of NTSB public docket on investigation into the sinking of U.S. cargo ship El Faro. Underwater video and images of the sunken cargo ship EL Faro have been released by the U.S. National Transportation Safety Board (NTSB) as part of its continuing investigation into the vessel’s sinking in the Atlantic Ocean in October. The docket opened by NTSB includes nine underwater images of El Faro wreckage on the seafloor…
Shipping Market in 2015 & Looking Forward - BIMCO
Global economy: menacing clouds in the sky cast a shadow on global economic developments 2015 never really took off, even though the global economic activity looked stronger earlier in the year. The negative indicators seen at the end of 2014 were not overcome, and we saw a significantly lower level of growth for global GDP in 2015 than in the previous five years. This was primarily due to the struggling emerging markets and developing economies, led by changes in China’s economic focus.
Boskalis Adds Dredging Assets in Germany
Royal Boskalis Westminster N.V. (Boskalis) has reached a heads of agreement with STRABAG SE for the acquisition of the dredging activities and assets of STRABAG Wasserbau GmbH, formerly known as Möbius Wasserbau. STRABAG Wasserbau, based in Hamburg, is a market leader in the German dredging sector With an annual turnover of approximately EUR 50 million. The agreed transaction price is EUR 70 million, will be financed from the company's own cash flow.
ST Marine Bags $ 344 mln Order in 4Q
Singapore Technologies Engineering Ltd (ST Engineering) announced today that its marine arm, Singapore Technologies Marine Ltd (ST Marine) has secured new orders…
APL Guam Makes Maiden Call in Guam
On 1 January 2016, APL ushered in the New Year with its U.S-flagged vessel, APL Guam arriving at the island of Guam for the first time. The event marks the maiden inbound shipment to Guam via APL’s Guam Saipan Express (GSX) service. “We are thrilled to kick-start 2016 with the first cargo shipment on the GSX route,” said John Selleck, APL General Manager, Guam/Micronesia. “With 75% of Guam’s inbound freight originating from the U.S.
Update on Hapag-Lloyd New Orleans's Service
Hapag-Lloyd has informed that due to continued inclement weather, the Mississippi River levels are expected to increase dramatically. This may impact the navigability of their vessels in and out the port of New Orleans. The company is reviewing the situation closely and will keep the trade informed of any possible disruption to their services for New Orleans.
BIMCO Launches Cyber Security Guidelines for Ships
BIMCO, together with other leading shipping organisations, has today launched a set of guidelines to help the global shipping industry prevent major safety, environmental and commercial issues that could result from a cyber incident onboard a ship. The cyber guidelines launched today are a first for the shipping industry, developed by international shipping associations, comprising BIMCO, CLIA, ICS, INTERCARGO and INTERTANKO - and with support from a wide range of stakeholders.
Cairn Confirms Successful Senegal Appraisal
Cairn informed that the successful testing of the SNE-2 appraisal well offshore Senegal with positive results. Operations have been safely and successfully completed following drilling, coring, logging and drill-stem testing (DST). The well is now being plugged and abandoned. Following this first successful appraisal well, resource estimates for the SNE field will be fully revised and announced after the results of the further appraisal activity.
China Merges Shipping Firms in Reform Push
Chinese shipping subsidiaries will realign their businesses in response to the merger between China Ocean Shipping (Group), known as Cosco Group, and China Shipping Group, reports Nikkei. Sinotrans & CSC Holdings Co., the nation's third largest shipping company, will become a wholly-owned subsidiary of China Merchants Group (CMG). Earlier in December, China approved the merger of another two of its biggest state-owned shipping companies…
China Defends Test Flight in South China Sea
China has rejected a protest from Vietnam over a flight test it has conducted on a new airstrip on a man-made island in the South China Sea, saying it is part of China’s territory. Chinese Foreign Ministry spokesperson Hua Chunying said on Saturday that the flight is to test whether the airfield facilities can meet civil aviation standards. “China has indisputable sovereignty over the Nansha Islands and their adjacent waters.
Australia Submarine Contract Award in Final Stage
The Australian government has begun its final evaluation of bids from Japan, Germany and France to choose the maker of its next-generation submarine and is expected to make its decision by the end of June, reports the Japan Times. The navy's new submarine fleet could reportedly cost taxpayers at least $5 billion less than expected, secret price estimates given to Defence by three international competitors show.
UASC calls at DP World London Gateway with Record Load
DP World London Gateway has welcomed one of the world’s largest container ships carrying a record 18,601-teu. The UASC-owned Al Muraykh called at DP World London Gateway to unload 3,800 containers. Al Muraykh, a new generation of ultra-large container ships, is one of the largest in the world measuring 400 metres in length. The containers are loaded 11 storeys high above deck and 23 containers across the ship. With thousands more stowed below deck, the ship can carry up to 18,800 containers.
Low Bunker Prices Benefit Ship Owners in 2015
As 2015 draws to a close and the Worldscale Organisation published the new 2016 Flat Rates, Poten and Partners goes through the annual exercise of updating Flat Rates in its systems. This highlighted once again the significant changes in bunker prices that occurred over the last 2 years. The Worldscale Organisation calculates Flat Rates based on average bunker prices over the period from October 1 of the prior year to September 30.