Maritime traffic on the world’s oceans has increased four-fold over the past 20 years, according to a new study quantifying global ship traffic. The research used satellite data to estimate the number of vessels on the ocean every year between 1992 and 2012. The number of ships traversing the oceans grew by 60% between 1992 and 2002. Shipping traffic grew even faster during the second decade of the study, peaking at a rate of increase of 10 percent per year in 2011. Traffic increased in every ocean during the 20 years of the study, except off the coast of Somalia, where increasing piracy has almost completely halted commercial shipping since 2006. In the Indian Ocean, where the world’s busiest shipping lanes are located, ship traffic grew by more than 300 percent over the 20-year period, according to the research. International trade and the sizes of merchant fleets have both enlarged rapidly over the past two decades, explaining the steep rise in ship traffic, the study reports. The new analysis has been accepted for publication in Geophysical Research Letters, a journal of the American Geophysical Union. Jean Tournadre is a geophysicist at Ifremer, the French Institute for the Exploitation of the Sea in Plouzane, and the study author. The new dataset will provide scientists with invaluable insights into the patterns of ship traffic and the traffic’s effect on the environment, said Batuhan Osmanoglu
Danish A.P. Moeller shares rebounded on Friday after news of its purchase of Dutch tug and salvage company Wijsmuller Group Holding on Thursday, brokers said. The two A P Moeller stocks, D/S 1912 and D/S Svendborg, traded at 69,500 crowns ($7,898) and 91,500 crowns respectively, 2.2 percent and 1.7 percent up from Thursday's close. The Copenhagen bourse's top 20 index KFX was down 0.4 percent at 316.15. Moeller shares have underperformed the KFX index by more than three percent the
Fixing to cover the millennium holiday period is expected to kick-start the Panamax market in the fourth quarter, shipping broker Simpson Spence & Young (SSY) said. "The belief is that the fourth quarter will see a major improvement as people look to fix for the holiday period," SSY said in its latest monthly report. Capesize supply/demand fundamentals were also looking strong for the period, the broker said. However
Kirby Corp. has apparently had success incorporating Hollywood Marine, a move which effectively created the largest inland barge operator in the country. In February, the company reported earnings per share (EPS) of $0.38, versus $0.31 a year ago. While the company appears strong, poised for further growth, there are some concerns as noted in a research report from Lazard Freres & Co. LLC. Management expects the slowing U.S
Caribbean dirty tanker trades have sustained a massive hit, tumbling from W255 at the end of last week to W202.5, New York brokers said. "The holiday doldrums have left a lot of spare tonnage and that has affected rates. With both Christmas and New Year's Day falling on Mondays this year, we've had two short weeks in a row and the market simply couldn't take that," said one dirty tanker broker. He pointed to Exxon's fixture of the 70,000 tonr Lucky Lady from Covenas to the U.S
Satellite data reveals major boost in shipping traffic Maritime traffic on the world’s oceans has increased fourfold over the past 20 years, according to a strudy recently published by the American Geophysical Union which examined international ship traffic. The research, which used satellite data to estimate the number of vessels on the ocean every year between 1992 and 2012, found that the number of ships traversing the oceans grew by 60 percent over the time span
While the theoretical jury deciding which direction the offshore drilling market will take is still out, recent data suggests that the level of spending internationally will disappoint. Calling a 10.2 percent gain in spending may seem a bit harsh, particularly given the depths to which the market has sunken in the previous two years. But considering that the price per barrel has catapulted from the $10 level early in 1999 to the mid-20's by the beginning of 2000
ABB won a $26m order to supply electrical power and propulsion systems for two next generation ‘Ramform’ vessels, capable of three-dimensional (3D) seismic data acquisition for deep sea resource exploration. The ships will be constructed by Mitsubishi Heavy Industries, and delivered in 2015 to Norway’s Petroleum Geo-Services ASA (PGS), a leading company in marine seismic and reservoir data acquisition, processing and analysis/interpretation services
Mitsubishi Heavy Industries, Ltd. (MHI) gets additional order to build 2 seismic vessels for Norway's Petroleum Geo-Services ASA (PGS). The order for the two vessels was placed upon exercise by PGS of the option right that was provided when two same type vessels were ordered to MHI in April 2011. The two newly ordered vessels are scheduled for delivery in the first and second half, respectively, of 2015. With this latest order
Retailers concerned by the lack of a West Coast longshoremen’s contract will continue to bring merchandise into the country at above-average levels this month but volume will drop from the record set in August, according to the monthly Global Port Tracker report released by the National Retail Federation (NRF) and Hackett Associates, and excerpted here. “The negotiations have made progress and retailers have been stocking up
The Cross-Bay Ferry carried a record 6,000-plus paying passengers in February, and experienced significant ridership growth in February for both weekday and weekend service between Tampa and St. Petersburg. During February, Cross Bay Ferry sold 6,070 tickets, a 57-percent rise from January
Clarksons Research discusses about the emerging trends in China which is at the heart of the world’s seaborne trade. In 2015 the Chinese economy saw both a slowdown in growth and a significant degree of turbulence. GDP growth slowed from 7.3% in 2014 to 6.9%
Maersk Line said that the growth of EXIM container trade of India in the current year is likely to be in two digits. The export-import container trade volume of India grew by 10% for the full year 2016, which was double of 2015, that too amid weak global trade.
South Korea’s Hyundai Samho Heavy Industries (HSHI), a shipbuilding affiliate of Hyundai Heavy Industries (HHI), said it has attracted 300 billion ($264 million) won investment via pre-IPO. Under the agreement signed with Korean private equity firm IMM Private Equity
As the many Greek players in the shipping industry know well, the legend of Icarus tells us the dangers of flying too high. Merchant vessel earnings eventually found their 2008 heights just as unsustainable, even as some talked of a “new paradigm”.
Worst over for Aframax market as fuel oil cargoes lift rates. Freight rates for very large crude carriers (VLCCs) could slide further before finding a floor and recovering on a rebound in chartering activity, ship brokers said on Friday.
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
The LNG industry is undergoing a dramatic transformation. North American activity (the majority of which is committed spend) is driving a return to growth in global capital expenditure. A wave of new LNG carrier newbuilds will also be required to support a huge increase in traded base-load
A European Union naval force deployed in the Mediterranean should turn back migrant boats after they leave Libya and prevent them from reaching Italy, British Foreign Minister Boris Johnson said on Thursday. Italy is on the frontline of Europe's migrant crisis, taking in more than 400
Capesize rates slip from year-long highs as miners absent; owners still optimistic of Q4 rate bounce. Freight rates for large capesize dry cargo shippers on key Asian routes, which hit the highest in about a year last Thursday, are set to remain buoyant during China's week-long National Day
In the containership market today, Panamax sector, the charter rates rest at rock-bottom rates and the fleet is in steady and perhaps terminal decline, with scrapping at record levels. Is the battle now lost? A report by Clarksons Research.
Oil prices jumped 4 percent on Tuesday, bouncing back from multi-month lows on expectations that OPEC will agree later this month to cut production to reduce a supply glut. Saudi Energy Minister Khalid al-Falih is expected to travel to the Qatari capital, Doha
World seaborne trade, whilst still growing at a relatively steady pace, has seen a slightly less rapid rate of growth since 2015, compared to both the longer-term historical average, and the more recent 2011-14 period, says Clarksons Research.
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, though deferred vessel deliveries
What a difference a year makes. Twelve months ago, the mood of the Russian delegation at the World Economic Forum in Davos was distinctly gloomy, with oil prices near 12-year lows below $30 per barrel and Western sanctions depressing their economy and financial markets.