Baltic Index Inches Down
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, edged lower on Friday on weaker rates for smaller vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down one point at 956 points. The capesize index rose 30 points, or 1.8 percent, to 1,668 points. Daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $221 at $12,239.
VLCC Rates to Fall Further in Well-supplied Market
Freight rates for very large crude carriers (VLCCs) are set to slide further next week, falling below tanker break even costs on routes from the Middle East, as too many ships chase too few cargoes, brokers said on Friday. "In today's market Middle East charter rates are around $15,000 a day. Charter rates are still falling, still sliding. I'm not sure where the bottom is," a European supertanker broker said on Friday.
Wilhelmsen Drone Project Takes Off
Marking a seismic shift in just how ships agents can support their customers, Wilhelmsen Ships Service (WSS) will soon be delivering its agency essentials via drone.
Safe Bulkers Expands Fleet
Safe Bulkers, in its Q1 financial results annoucements said that with the latest addition of Pedhoulas Rose, its fleet has increased to 38 dry bulk vessels. In January 2017ā¦
Liberian Registry No 1 Choice for Greek Shipping
Liberia has confirmed its position as the leading flag of choice for Greek ship owners and operators, according to statistics produced by the independent researchā¦
Ex-HMAS Sydney Retires to Western Australia
Ex-HMAS Sydney has left Sydney Harbour to be towed to Western Australia for recycling, says Minister for Defence Personnel Media Release. Minister for Defence Personnelā¦
Dynagas Closes USD 480mln Term Loan B
Dynagas LNG Partners, an international owner and operator of liquefied natural gas (LNG) carriers, announced the closing of a USD 480 million Senior Secured Termā¦
India, Singapore Navy Drill SIMBEX-17 Commences
As part of "SIMBEX-17ā, the ongoing Bilateral Naval Exercise between Navies of the Republic of Singapore and India, lndian Naval Ships Shivalik, Sahyadri, Jyotiā¦
Death Toll On The Rise at Chittagong Shipbreaking Yards
Two workers lost their lives at the Chittagong shipbreaking yards in the last two weeks, bringing the total death toll this year to six workers, reports NGO Shipbreaking Platform.
Managing Oil Spills
International experts have been sharing experiences, new technologies and scientific advancements relating to oil spill response at the International Oil Spill Conference (IOSC) in Long Beachā¦
EMP Inks Deal to Supply Aquarius MAS
Eco Marine Power (EMP) has signed a Memorandum of Understanding (MOU) with a Singapore based shipping company to supply its Aquarius Management and Automation (MAS) + Solar solution. The solution will also include hardware and software that will allow ships to monitor fuel oil consumption in real time, automatically calculate NOx/SOx/CO2 emissions and interface with marine solar power systems. Initiallyā¦
AWO Welcomes CVIDA Inclusion in Coast Guard Authorization Bill
The American Waterways Operators (AWO) said it welcomes the inclusion of the Commercial Vessel Incidental Discharge Act (CVIDA) and the recapitalization of the aging fleet of inland waterway tenders as part of the FY 2018 Coast Guard Reauthorization Act, which was approved today by the Senate Committee on Commerce, Science and Transportation by voice vote. CVIDA is bipartisan legislation that streamlinesā¦
Dellner to Launch Heavy Duty SKD Disc Brakes
Dellner Brakes AB said it will introduce two new heavy-duty disc brakes to its SKD range that, through a new modular design, are set to deliver more choice and stopping power for large industrial, marine and offshore applications. The new brakes will be launched at Nor-shipping in Oslo, taking place from May 30 to June 2. Designed for stopping rotary motion and statically holding load in large marine vessels and industrial machineryā¦
Baltic Exchange Names Sykes Chief Commercial Officer
The Baltic Exchange has appointed a new chief commercial officer; Janet Sykes, former head of communications at shipping services provider Clarksons Platou, will join the Baltic Exchange on July 3.
North Korea's New Ferry Service Makes First Trip to Russia
A new ferry line between isolated North Korea and its neighbour Russia docked for the first time at the Russian Pacific port of Vladivostok on Thursday. The ferry'sā¦
New Fast Displacement Yacht is First with Hybrid Propulsion
A new motoryacht built by built by the Netherlandsā Heesen Yachts is the worldās first Fast Displacement equipped with hybrid propulsion. Christened M/Y Home, the vessel is ultra-efficient, low fuel-burning and one of the quietest on the oceans. There are two sources of power for propulsion: diesel mechanical and diesel electrical. Either source can be used independently or simultaneously, providing less noise and vibration, more flexible power management and increased efficiency.
Swiss Fleet Dwindles as State Guarantees End
A dozen ships from the Swiss high seas fleet are being sold off as the global shipping crisis takes its toll on the quirky remnant of landlocked Switzerland's effortsā¦
The New Offshore Reality
Swedbankās chief economist, Harald Andreassen, isnāt ātoo hopefulā about the long-term prospects for the oil price, but then again, āIām less certain of this than Iāve ever been as an economist,ā he told a floating production conference in Oslo. After two-and-half years of oil-price collapse followed by layoffs in the thousands; stacked oil rigs and order freezes for offshore shipping, price insecurity itself is a partial expression of confidence.
Hapag-UASC Tie-up Nears Completion
German shipping line Hapag Lloyd is close to completing a merger with United Arab Shipping Company (UASC) after UASC's shareholders agreed terms to repay outstanding debts, sources familiar with the talks told Reuters. The deal to create the world's fifth-biggest shipping company, valued at about 7 billion to 8 billion euros ($7.8-$8.9 billion), had been scheduled to complete at the end of last year. It would give Hapag Lloyd access to bigger ships on the major Asia to Europe trade route.
OP/Ed: CVIDA Good for Environment & Economy
I think it safe to say everyone agrees the discharge of ballast water has introduced non-native species to ports and harbors worldwide and more must be done to stop future invasions. Unfortunately, beyond that, thereās less agreement, much less. As a result, here in the United States we have two federal agencies, the U.S. Coast Guard (USCG) and the U.S. Environmental Protection Agency (EPA), plus, at last countā¦
