Maritime Industry Top News
Asia Dry Bulk Capesize Rates to Climb
Freight rates for large capesize dry cargo ships on key Asian routes could move higher next week on a potential ship shortage, higher cargo volumes and storms in China that could disrupt sailing schedules leading charterers to scramble to fix replacement tonnage, ship brokers said. "We do not have a lot of ships available off Brazil to load cargo at the end of July. That will likely support freight rates," said a Shanghai-based capesize broker.
Panama Canal Extension May Be Bad for Some Shippers
The newly inaugurated Panama Canal may not be as beneficial as it seems for container ship carriers, says Xeneta, a benchmarking and market intelligence platform for containerized ocean freight. Although the new sets of locks and deeper, wider shipping channels will potentially double the waterway’s capacity, giving neo-panamax vessels access for the first time, the increased efficiencies may actually…
Keppel, Shell form Singapore LNG Bunkering Joint Venture
Keppel Corp Ltd said it entered into an agreement with Royal Dutch Shell to form a joint venture company, which will establish a liquefied natural gas (LNG) bunkering business in Singapore.
This Day In Naval History: July 7
1798 - Congress rescinds treaties with France, and the Quasi War begins. 1846 - During the Mexican-American War, Commodore John D. Sloat, disembarks from his flagship frigate, USS Savannah, at Monterey and claims California for the U.S. 1915 - Thomas A. Edison becomes the head of the Naval Consulting Board, which screens inventions for the Navy. 1944 - USS Mingo (SS 261), USS Skate (SS 305), USS Sunfish (SS 281), USS Flasher (SS 249), and USS Bonefish (SS 223) sink up to eight Japanese ships.
EU Accepts Antitrust Concessions from Maersk, MSC, Others
EU antitrust regulators accepted on Thursday an offer from Maersk, the world's largest container shipping liner, and 13 other competitors to change their pricing practices. The companies agreed to publish binding actual rates 31 days before they go into effect, with the figures acting as a price ceiling. Under the current system, they only publish the amount of the increase, not the final price. The other 13 firms are No.2 player MSC, No.
Italy Recovers 217 Bodies from Migrant Shipwreck
Italian emergency workers have recovered 217 bodies from the wreck of a boat that sank in the Mediterranean in April 2015, killing some 500 migrants, the Navy said on Thursday.
Higher Panamax Demand Boosts Baltic Index
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday on increased demand for panamax vessels. The overall index…
General Dynamics Bags US Navy's VPM Contract
General Dynamics Electric Boat has been awarded a $116 million contract modification for the continued development of the Virginia Payload Module (VPM). Electric…
GPA Awarded $44M Grant
The Georgia Ports Authority has received a $44 million Fixing America's Surface Transportation (FAST) grant from the U.S. Department of Transportation to increase…
NOIA’s Luthi Testifies at House Natural Resources Subcommittee Hearing
NOIA President Randall Luthi released the following statement after providing testimony today before the House Committee on Natural Resources Subcommittee on Energy and Mineral Resources on H.R.
TGS Provides Second Quarter Update
Based on preliminary reporting from operating units, TGS management expects net revenues for the second quarter of 2016 to be approximately USD 114 million. Multi…
Keppel Secures Marine Projects worth S$120 mln
Keppel Offshore & Marine Ltd (Keppel O&M)'s wholly owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) has secured four contracts worth a total of about S$120 million from repeat customers.
Damen Completes Thor Facelift
The DP1 jack-up vessel Thor owned by the DEME Group has completed a short stay at Damen Shiprepair Dunkerque (DSDu). During her time at the yard her hull was repainted…
FAST Act Grant Awards Announced
The U.S. Department of Transportation (DOT) has announced 18 proposed grant awards for projects under the Nationally Significant Freight and Highway Projects Program.
Shipping is the Least Optimistic Segment in Transportation
Shipping is the least optimistic industry within the transport sector, by a significant margin, according to the seventh The way ahead Transport survey from global law firm Norton Rose Fulbright.
China and India Key Markets for Transportation
The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead Transport survey…
DNV GL, South Korean Yards Kicks off Standardization
The first phase of a joint industry project (JIP) to promote a global standard for engineering and construction of offshore oil and gas installations has delivered four recommended practices (RPs).
Dispute Resolution Clauses - BIMCO
A new edition of BIMCO’s Dispute Resolution Clause has been published. New wording has been added to the US law, New York arbitration option to ensure that non-maritime…
CargoSmart Partners with Ningbo E-port for SOLAS VGM
The Port of Ningbo has integrated CargoSmart’s software for shippers and forwarders to meet new container weight requirements with its electronic platform for exchanging…
Rotterdam Unions, Container Firms Reach Deal on Job Security
The trade unions FNV and CNV Vakmensen, the Rotterdam container companies and the Port of Rotterdam Authority concluded consultations on employment in the container industry.
