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Next Week

Last Call to Register for SHIPPINGInsight

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Maritime industry conference and exhibition opens next week in Stamford, Conn. There’s still time to register online for SHIPPINGInsight 2014, the North American maritime industry technical conference and exhibition, which opens next week in Stamford, Conn. The event will take place at the Sheraton Stamford Hotel Sept. 30 – Oct. 2. It includes a full-day dedicated Marine LNG Symposium followed by the two-day Fleet Optimization Conference. Event highlights include: Senior executives from more than 20 major shipping companies as panel moderators and speakers 48 speakers and panelists sharing expertise and insights Two open roundtable sessions 30 exhibitors showcasing products, systems and solutions 14 networking events First annual SHIPPINGInsight Award presentation at gala luncheon Oct. 1 “We look forward to welcoming speakers and delegates next week,” said conference co-director Frank Soccoli. “The SHIPPINGInsight events are designed to give shipping professionals a unique opportunity to learn from experts, share knowledge and network with their peers from all segments of the industry.” shippinginsight.com  


Asia Dry Bulk-Capesize Rates Should Remain Flat

Western Australia-China rates hit near 17-year low; owners explore laying-up ships. Freight rates for capesize bulk carriers on key Asian routes should remain flat next week as the Lunar New Year holiday in China will curtail chartering activity, shipbrokers said on Thursday. Capesize rates from Western Australia to China hit a near 17-year low on Wednesday after Rio Tinto fixed a capesize ship at a rate of $2.85 a tonne, said a Shanghai-based capesize broker.


Asia Dry Bulk-Capesize Rates Up on Increased Traffic

File Image (CREDIT: AdobeStock)

Record iron ore prices fuelling capesize chartering boom; freight rates rise by around $1 per tonne in a week.   Freight rates for large capesize dry cargo vessels on key Asian routes, which hit multi-week highs on Wednesday, are set to continue to climb next week on buoyant iron ore cargo volumes, brokers said.   More than 30 capesize fixtures were reported in the week to Feb. 22, almost double the number in the last two months, according to data on the Reuters Eikon terminal.


Asia Tankers-VLCC Rates Expected to Soften

File image (Suez Canal Authority)

MidEast rates slip from two-week high on June 28; raft of new ships and repaired vessels weigh on rates. Freight rates for very large crude carriers (VLCCs) will continue to soften next week as ample tonnage supply weighs on the market, although a raft of Middle East fixtures are expected to put a floor under charter rates, ship brokers said on Friday. That came as VLCC rates from the Middle East rose to a two-week high on June 28 before slipping slightly


Market Weighs on Asia Dry Bulk-Capesize Rates

Tonnage list grows in Pacific, Atlantic oceans; lack of coal cargoes weigh on freight rates. Freight rates for capesize bulk carriers are set to slide further next week, after falling to their lowest level in five weeks, due to a mounting supply of tonnage and uncertain cargo demand, ship brokers said on Thursday. "There's too many ships in the Pacific. There's a lot of ballasters (empty ships) sailing to Brazil," a Singapore-based ship broker said.


Asian Panamax Rates Edge Higher

Asian Panamax freight rates for dry bulk cargo in the Pacific market edged higher this week on the back of pre-Lunar New Year holiday grain purchases and persistent coal shipments, shipping agents said. But brokers said they expected freight rates to show signs of weakness next week as several Asian countries would be on holiday. "Chartering activity will slow down next week as many countries in the Asian region close for the Chinese New Year," said one domestic broker


Businessman To Discuss Titanic Replica

South African businessman Sarel Gous is expected to visit Belfast next week to discuss plans to build a replica of the Titanic and launch it as a commercial cruise liner. Gous reportedly paid Harland & Wolff, the builders of the original Titanic, to do a feasibility study and is traveling to Belfast to meet city council members and discuss his plans. In 1998 Gous secured the original plans of the Titanic, which was owned by the White Star shipping line


Suezmax Rates Set To Soar

Surging Suezmax tanker rates are set to soar if Iraqi exports come back on stream next week, shipping brokers contend. Rates for the one million barrel tankers have lifted to around 100 Worldscale points on fixtures from West Africa and the North Sea to the U.S., and on cross Mediterranean and North Sea routes, brokers said.


Casino Boat to be Unveiled

According to the Chicago Sun Times, pending regulatory approvals, the grand opening of the new $170 million gambling vessel at the Blue Chip Casino & Hotel in Michigan City, Ind., will be celebrated next week. It will mark the culmination of a two-year on-site construction project. The new boat will feature a 65,000-sq. ft. casino on one level and is reported to have the largest hull of any casino boat in the nation.


Mississippi River Traffic Stalled

Mississippi River barge traffic near Burlington, Iowa, remained backed up on Thursday after lock 18 in Gulfport, Illinois, reopened Wednesday afternoon after a day-long shutdown, river officials said. Lock 18 was closed Tuesday morning when a breakaway barge caused two loaded barges to sink near the lock and left six other barges adrift at the dam. "We've got two barges still floating in the dam and two sunk, with the salvage unit on the way to clear it out


NAVFAC Southeast CERT Prepares for Hurricane Irma

Photo: United States Navy

 Naval Facilities Engineering Command (NAVFAC) Southeast is forming Contingency Engineering Response Teams (CERTs) in preparation of any damage to Naval facilities in the path of Hurricane Irma.   "Teams returned last week from Naval Air Station (NAS) Kingsville and NAS Corpus


MARAD Calls in NDRF Ships for Harvey Relief

Empire State VI (Photo: MARAD)

 The U.S. Department of Transportation Maritime Administration (MARAD) has activated two National Defense Reserve Fleet (NDRF) vessels for a pre-scripted Federal Emergency Management Agency (FEMA) mission to support relief efforts in Texas.  


Oil Firm Evacuate Workers as Storm Approaches Texas

File Image / Credit: James Fisher

Oil companies evacuate workers as storm takes aim at Texas.   Royal Dutch Shell, Anadarko Petroleum and Exxon Mobil announced they were curbing some oil and gas output on Wednesday at facilities in the Gulf of Mexico ahead of a storm expected to hit the Texas coast later this week.  


Double Naming Ceremony for Stena Bulk at GSI

Stena Imperator with her sister Stena Imprimis side by side (Photo: Stena Bulk)

Two newly built vessels owned by Stena Bulk, Stena Imperator and sister ship Stena Imprimis, were named side by side at the Chinese shipyard Guangzhou Shipbuilding International (GSI) in Guangzhou in southeast China.    The two godmothers – for the Stena Imperator


Overtonnage Weighs on VLCC Rates

© Jose Gil / Adobe Stock

Freight rates for very large crude carriers (VLCCs) on Asian routes from the Middle East could fall to a new low for the year next week as too many ships chase the number of available cargoes, ship brokers said on Friday.   That came as average rates from the Middle East to Asia have fallen


Fuel Removal from Grounded Kea Trader in Progress

Kea Trader. Photo: Lomar Shipping Limited

 Three weeks after the grounding of Kea Trader on a reef off New Caledonia, the removal of heavy fuel oil from the 2017-built containership is now underway and could be completed next week.   According to Radio New Zealand, helicopters are being used to remove fuel from a ship stuck on


France Wants Private Shareholder for STX

France: Italy's Fincantieri best option.   France wants a private investor for the STX France shipyards and Fincantieri is the best option but the government will be forced to consider other alternatives should negotiations with the Italian shipbuilder fail


France Nationalizes Shipyard to Thwart Italian Majority

France will temporarily nationalise the STX France shipyard to prevent an Italian firm taking majority control, the economy minister said on Thursday, marking President Emmanuel Macron's first big industrial policy decision.   As France's most avowedly pro-business leader in decades


Italy Mulls Deployments in Libyan Waters

Tripoli government invited Italy into its waters; some 600,000 boat migrants have come to Italy since 2014.   Italy intends to deploy several ships in Libyan waters by the end of August to fight human trafficking and stem a flood of immigrants, a government source said on Thursday.  


VLCC Outlook Brightens Slightly

file Image: CREDIT EuroNav

Rate correction likely after low S-Oil charter drags market.   Freight rates for very large crude carriers (VLCCs) could see a small respite next week, building on the slight improvement seen in the last two days although sentiment is likely to remain pessimistic of any real recovery


Firmer MidEast, WAfrica Sentiment Supports VLCC Rates

File Image (CREDIT: AdobeStock / (c) Carabay)

Middle East rates helped by fewer old vessels; about 96 MidEast cargoes fixed, 25 to come.   Freight rates for very large crude carriers (VLCCs) could rise next week on firm sentiment in the Middle East and West Africa markets but higher oil prices and fewer floating storage opportunities


LNG Price Row between GAIL, Cheniere Looms

File Image (CREDIT: AdobeStock / (c) Fotmart)

India's biggest importer of U.S. liquefied natural gas (LNG) is trying to re-negotiate prices with the U.S. seller, sources said, undermining plans by U.S. President Donald Trump to export more gas to the fast-growing Asian nation.   At a joint news conference with Indian Prime Minister


Maersk: Most Ports at Normal Ops After Cyber Attack

File Image: The Madrid Maersk, a 20,000+ TEU Box ship (CREDIT: Maersk)

Maersk Line sees "great progress" in the restoration of its infrastructure after it was hit by a cyber attack this week, it said in an update to customers on Friday.   * "We are open for business and are accepting bookings," Maersk Line, A. P


Asia Tankers-VLCC Rates Flat as Old and New Ships Compete

File Image (CREDIT: AdobeStock / (c) Carabay)

MidEast-Asia rates likely to remain flat until August; paper derivative trades show no uptick until October.   Freight rates for very large crude carriers (VLCCs) are likely to remain flat next week, a situation that could well last until August, brokers said on Friday.  


IMO: Focus on GHG Emissions

Photo: International Maritime Organization (IMO)

 Nearly 300 delegates from International Maritime Organization (IMO) Member States, international NGOs and intergovernmental organizations have gathered at IMO Headquarters in London for the first meeting of the Intersessional Working Group on Reduction of Greenhouse Gas (GHG) Emissions from






 
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