World trade growth fell to 2.0% in 2012 — down from 5.2% in 2011 — and is expected to remain sluggish in 2013 at around 3.3% as the economic slowdown in Europe continues to suppress global import demand, WTO economists reported on 10 April 2013. “The events of 2012 should serve as a reminder that the structural flaws
Battery hybrid ships are believed to be an alternative energy system mix for the shipping of tomorrow. Recent results of a joint DNV and Grieg Star hybrid ship crane project show less than a year’s payback time and fuel savings of 30 % - and that you should get your battery on board sooner rather than later.
In its latest report, BIMCO forecast that for the coming six weeks, Capesize time charter average rates will remain subdued around $4,500-8,500 per day. The Panamax market is expected to hold on to recent gains and remain in the USD 5,000 – 10,000 per day range. In the Supramax market, BIMCO sees freight rates in the USD
A report detailing the overall economic cost incurred worldwide from Somali piracy was launched in Denmark on Tuesday 9 April by Oceans Beyond Piracy (OBP), a project of One Earth Future Foundation. The report, The Economic Cost of Somali Piracy 2012, launched in the Assembly Hall of the National Museum in
ERMA FIRST ESK Engineering Solutions S.A. has successfully concluded the installation of its Ballast Water Management System "Erma First" in two containerships being built at Zhejiang Ouhua Shipbuilding for Greek owner Evalend Shipping Co. S.A.
It could be a temporary sign, or the beginning of a new trend, but the fact of the matter is that the past week, was the most active of all, since the start of 2013, according to the latest weekly report from shipbroker Clarkson Hellas. In total, the past week saw the ordering of close to 40 newbuilding vessels, across
Report issued yesterday at events in Singapore and London indicates strong growth for the maritime sector in the years up to 2030 and an even bigger role for China in the maritime world, as seaborne trade increases from 9 billion tonnes annually to between 19-24 billion tonnes.
As expected the industry just about scraped over the break-even line in 2012, albeit only because of the results of a handful of leading lights. There is every chance that lines will make decent money in 2013, but only if they refrain from old habits and stick to pricing and capacity discipline.
A flurry of newbuilding orders for product tanker vessels, mainly in the MR sector, where more than 40 newbuildings have been ordered since the start of the year, could very well mean lean times in the future for product tanker owners. Still, the market fundamentals could be rather promising and enough to justify the
Halfway Houses are for people who have been getting treatment for a compulsive problem like alcohol; or maybe substance abuse. When the treatment is over and the patients prepare to build a new life, the Halfway House provides support. It's not a service Mission to Seafarers provides, but who knows, it might be helpful to
Drewry’s research shows that the average size of vessel deployed between Asia and North Europe now exceeds 10,000 teu for the first time. Orders for Ultra Large Container Vessels (ULCVs) have been quiet recently, but the pace of growth in vessel sizes will continue to outstrip cargo growth for the foreseeable
In today's adverse tanker market conditions, which are characterized by oversupply of tonnage and mediocre
crude oil demand, ship owners and charterers are presented with the
opportunity to work together, in an attempt to reach mutually beneficial
solutions for both parties' profitability. In its latest report,
In the last week of March 2013, the US Environmental Protection Agency (EPA) issued a final Vessel General
Permit regulating discharges from commercial vessels, including ballast
water, to protect the nation's water from ship-borne pollutants and
reduce invasive species in US waters. The VGP will enter into force on
GPS satellites have become the new lodestar for lost drivers and modern navigators, but things are not always
so simple if you live in South America. An atmospheric kink caused by
the interplay of solar flares and Earth’s magnetic field called
ionospheric scintillation can scramble satellite signals and leave
travelers at sea. Literally.
A flurry of newbuilding ordering activity since the start of the year, has seen the ordering of 17 Capesizes, 7 Panamaxes, 42 MR product tanker and 10 LR2 Product tankers. According to the latest report from shipbroker Intermodal, "on one side we see giants like Maersk trying to delay their behemoths entering into service and
A new paper has been completed outlining the key information that should be contained in safety data sheets for chemical tankers.
INTERTANKO, the International Parcel Tankers Association (IPTA), the Chemical Distribution Institute (CDI), the European Chemical Industry Council (CEFIC) and the Dangerous Goods Advisory Council (DGAC) collaborated on the
Tsakos Energy Navigation Limited, a leading product, crude and LNG tanker operator, yesterday announced the time-charter employment with profit-sharing provisions for three product tankers, two LR1 panamaxes and one MR handysize, to major international end-users. The new charters, two years for the LR1s and 12 months for the
It seems that tanker owners can't catch a break these days, as for each positive news that could help turn market fundamentals towards their favor, comes another news flash, which turns the tide to the opposite direction. This time around, the latest news development which could potentially put a dent -- and a serious
While US shale gas is poised to impact the global LNG trades, beginning in 2015, it has already made its presence felt in the international LPG market. As a result of steadily increasing shale gas production volumes in recent years, the US has switched from being primarily an importer of LPG to a country rapidly rising up
During the past few years much has been reported about the transfer of manufacturing from Asia to countries located closer to western markets, but much of it appears to be hype over substance.Whilst many importers claim that near sourcing is increasing, the evidence seen by Drewry suggests that it is unlikely to affect