Maritime Industry Top News
Ship Recycling Code Launched in London
An inter-industry working party - comprising the International Chamber of Shipping (ICS), BIMCO, Intercargo, Intertanko, ITOPF, ITF and OCIMF - has launched an Industry…
Atlantic Panamax Earnings Plummet To New Lows
Average Atlantic panamax earnings sank to new lows on Monday, quashing hopes that the market had bottomed out, brokers said. "We've given up predicting when the market will stop falling…
Dead Stowaways Found Onboard Panamanian Cargo Ship
Two dead stowaways were found on Monday in the cargo hold of a ship, which docked in the northwestern port of La Coruna on a voyage from west Africa, the local port authority said.
Collision in Welland Canal Continues To Hamper St. Lawrence Seaway
Shipping on the St. Lawrence Seaway will remain badly disrupted for at least another day, Canadian marine authorities said on Monday, as an investigation continues into an accident in which a 730-ft.
Iraqi Oil Smuggling Attempt Goes Sour in the Persian Gulf
An Iranian team on Monday stopped an oil leak from a ship that sank in the Gulf last week while apparently smuggling Iraqi fuel oil, a regional marine body said.
Ship Collision Forces Closure of Major Canadian-U.S. Trade Link
A major marine trade link between Canada and the United States remained closed on Sunday after a ship collided with a lift bridge in Canada's Welland Canal. The canal…
NOL Shares Down 6.8 Percent
Shares of Neptune Orient Lines Ltd (NOL) slumped as much as 6.8 percent on Monday morning after it said it expects to book a profit for the full year but that the…
Five Chinese Fishing Boats Capsize Off Hainan
One Chinese fisherman drowned and 19 were missing after five boats sank in tropical storm Tiantu off the southern province of Hainan, maritime officials said on Monday.
Merrill Lynch "Reduces" P&O's Rating
Merrill Lynch said on Monday it had cut its rating on British shipping and logistics group The Peninsular & Oriental Steam Navigation Company (P&O) to "reduce" from "neutral" in the intermediate term.
Rough Seas Cause Italian Ferry To Run Aground Off Sicily
An Italian ferry ran aground in the Aeolian Islands off the north coast of Sicily on Sunday night in rough seas, coast guard officials said on Monday. All 164 people on board were rescued safely…
India To Get $144 Million LNG Import Terminal
An Indian subsidiary of Royal Dutch/Shell said on Monday preliminary work for a liquefied natural gas (LNG) import terminal in India had begun and work for the main facility would start in November.
Spot Rates Rise
(trading AG-Japan) went up to USD 21,624 per day for a modern vessel; this is up 12.7% from the average of June 2001. modern Suezmax trading West Africa to US went up to USD 30…
Ship Recycling Code Launched
The recent edition of INTERTANKO News says that following two years of work on the issue of enhanced environmental and safety conditions in ship recycling yards…
IEA Raises Oil Demand Figures
An upwards revision to world oil demand means the West will need more oil from the OPEC cartel this year and next than previously thought, the International Energy Agency (IEA) said.
Tanker Blood-bath Continues
Friday's dirty tanker fixture lists revealed the full extent of this week's blood-bath on VLCC trades from the Mideast Gulf. Rates collapsed by 15 percent overnight…
NOL Shares Suspended
Shares of Singapore-based Neptune Orient Lines (NOL), the world's sixth largest container ship operator, were suspended on Friday pending an announcement. "We suggested…
Cargo Ship and Fishing Trawler Collision off Newfoundland Kills Three
A Cypriot tanker is being been detained in the eastern Canadian province of Newfoundland after a reported collision between a cargo ship and a U.S. trawler off the…
Merrill Lynch Slashes Rates On Trio of Oil Giants
Merrill Lynch on Thursday said it cut its rating on oil drilling companies Rowan Cos Inc., ENSCO International Inc. and Global Marine Inc., citing slack demand in the Gulf of Mexico drilling market.
P&O Wins 30-Year Concession for Container Terminal
British shipping and logistics group The Peninsular & Oriental Steam Navigation Company (P&O) said on Thursday its Ports unit had won a 30-year concession to develop…
Navy: U.S. Forces Cannot Handle Growing Threat of Mine Warfare
U.S. naval forces are poorly equipped to counter a growing mine warfare threat and are about to lose the potentially decisive ability to plant sea minefields of their own…