Home / Shipping News / International Shipping News

International Shipping News

V.Group announces new leadership team

V.Group is pleased to announce the appointment of Ian El-Mokadem as Chief Executive Officer and Martin Gaard Christiansen as Chief Commercial Officer. Both will assume their positions in the autumn. Ian joins from Exova, the global provider of technically demanding testing, calibration and related advisory services, where he served as Chief Executive for the last six years. Ian was responsible for professionalising and growing the business, which operates in 33 countries, has a network of 4,200 experts across 138 laboratories, and is trusted by customers in industries such as aerospace, ...

Read More »

LNG tankers heading to Britain, Belgium and the Netherlands

The following liquefied natural gas (LNG) tankers are expected to arrive in Britain, Belgium and the Netherlands in the coming weeks. The vessels carry gas to Europe’s most active markets and include cargoes delivering on a spot basis and under long-term contracts. Estimated arrival dates are often revised by port authorities and AIS Live ship-tracking data on Reuters, and are updated below. Some tankers heading for Belgium and Britain may be loading at the terminal. Those expected to load are indicated with an (L). Tankers that have docked are indicated ...

Read More »

ARA fuel oil inventories reach four-month high, despite lower exports

Fuel oil inventories in the Amsterdam-Rotterdam-Antwerp region rose by 84,000 mt to 1,171,000 in the week ending July 27, according to data from PJK Consulting. This week’s build boosted inventories to their highest level in four months. Stocks were last higher on March 30 when they reached 1,545,000 mt. This represents the third consecutive rise in fuel oil stocks this month. Fuel oil and gasoline were the only oil product inventories to rise, while naphtha, gasoil and jet fuel stocks drew. Unlike last week, when the rise in fuel oil ...

Read More »

Asia Fuel Oil-Crack at 1-1/2 month low; Hin Leong on a buying spree

Asia’s 180-centistoke (cst) fuel oil crack fell further to hit a 1-1/2 month low at discounts of $1.30 to Dubai crude on Friday as supplies built in key regions. Cash deals in Singapore were vibrant with a total of 220,000 tonnes traded, the highest daily volume since May 8. 380-cst grade made up the bulk of the fuel oil traded on Friday, with Singapore trader Hin Leong buying five and selling two of the total 11 cargoes traded. Hin Leong has been on a buying spree and bought a total ...

Read More »

OOIL Says Total Volumes up 6.6% During Second Quarter, With Revenues up 23.8% on an Annual Basis

For the second quarter of 2017 (ended 30th June 2017), total volumes were 6.6% up from the same period last year. Total revenues increased by 23.8% to US Dollars 1,405.9 million. Loadable capacity increased by 9.6%. The overall load factor was 2.3% lower than the same period in 2016. Overall average revenue per teu increased by 16.2% compared to the second quarter of last year. For the first six months of 2017 (ended 30th June 2017), total volumes increased by 6.8% over the same period last year and total revenues ...

Read More »

Eagle Bulk Shipping Inc. (EGLE) Downgraded by BidaskClub to Strong Sell

Eagle Bulk Shipping Inc. (NASDAQ:EGLE) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Thursday. Separately, Zacks Investment Research lowered Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Eagle Bulk Shipping (EGLE) traded down 2.26% during trading on Thursday, reaching $4.32. 206,187 shares of the company traded hands. The company’s 50-day moving average price is $4.58 and its 200 day moving average price is $5.23. Eagle Bulk ...

Read More »

EXMAR: CFLNG And Kruibeke

EXMAR is pleased to announce that it has taken delivery of the CARIBBEAN FLNG (CFLNG) on the 27th July 2017 from Wison Offshore & Marine in the People’s Republic of China. The CFLNG consists of a 500,000 tons per year floating liquefaction plant with 16,000 m³ of LNG storage and will remain moored in Wison Shipyard. Communication on the employment of the CFLNG will be made once the final agreement with the customer is signed. EXMAR has achieved this important milestone with the support of Wison Offshore & Marine, Bank ...

Read More »

India: Parliament Passes Bill To Replace 170-Year-Old Maritime Laws

A legislation which aims to establish a legal framework for consolidation of maritime laws and to confer admiralty jurisdiction on all high courts of the coastal states in the country has been passed by both the houses of Parliament. The Admiralty (Jurisdiction and Settlement of Maritime Claims) Bill, 2017 seeks to repeal laws such as the Admiralty Court Act, 1861 and the Colonial Courts of Admiralty Act, 1890. The Rajya Sabha, the upper house, passed the Bill on Monday. The Lok Sabha had cleared it in March. “Earlier, admiralty (shipping)-related ...

Read More »

Saudi-led coalition stops oil tankers from entering Yemen, UN says

A Saudi-led military coalition and the government of Yemen denied four oil tankers access to a Yemeni port last week, a move that could hurt the flow of aid and exacerbate a cholera outbreak in the country, a United Nations agency said. The vessels were on their way to Hodeidah, a Red Sea port controlled by the rebel Houthi movement that is aligned with Iran. Saudi Arabia, a regional rival of Iran, is leading a military coalition fighting the Houthis. More than 1,900 people have died from cholera in Yemen ...

Read More »

Growing trend of cargo owners, refiners offering scrubbers to shipowners

The Asian market has seen a growing trend of scrubbers being offered to shipowners at no outright cost, with both refiners and cargo owners making the offer to shipowners, said market sources this week. The trend in particular, has been fairly widespread in Northeast Asia, especially Japan and South Korea, sources added. This comes 2.5 years ahead of the International Maritime Organization’s mandate that all vessels in 2020 would have to comply with a 0.5% global sulfur cap for the marine industry, from 3.5% currently. The proposal so far in ...

Read More »

Dry Bulk FFA: Capesize Market Sees Buyers’ Resilience

Capesize Commentary Continuing the animal theme of recent days, yesterday the cape paper market and its participants could be well likened to a Tardigrade. Tardigrades are often called moss piglets and are near microscopic animals with long, plump bodies and scrunched up heads. They have 8 legs and hands with 4-8 claws on each. While strangely cute these animals are indestructible and can survive in outer space. You can boil them, freeze them, crush them, dry them out and yet they survive it all and come back for more. After ...

Read More »

Drewry: World Container Index Down by 1%

The World Container Index assessed by Drewry, a composite of container freight rates on 8 major routes to/from the US, Europe and Asia, is down by 1% to $1406.54/40ft container [updated Thurs, 27 Jul 17]. Two-year spot freight rate trend for the World Container Index: World Container Index: Drewry assessment on Thursday, 27 July 2017 The composite index is down by 1% this week and up by 19% from the same period of 2016. The average composite index of the WCI, assessed by Drewry for year-to-date, is US $1,542/40ft container, ...

Read More »

Clipper Oil Provides Marine Oil to Vessels across the Pacific

Clipper Oil is a worldwide supplier of marine fuels and lubricants to a wide variety of vessels including fishing fleets, ocean-going yachts, cruise ships, cargo ships, military vessels, and power plants. Based in San Diego, California, Clipper Oil has been providing quality marine fuels and lubricants since 1985. Clipper Oil was founded by George Alameda and Lou Brito, who were both pioneers of the tuna fishing industry in San Diego. Clipper Oil specializes in providing competitively-priced, high-quality fuel in a variety of ports throughout the Pacific. During a recent interview, ...

Read More »

RS has implemented the research results involving development into the normative base in the field of maritime operations safety

A new revision of the Rules for Planning and Execution of Marine Operations entered into force. Subsequent to the results of research held in 2016, Part IV “Safety Assessment” has been considerably revised and dedicated to risk analysis and elaboration of measures to prevent possible emergencies and reduce their consequences during maritime operations. The standard hazards and emergencies during various maritime operations have been revealed in the Rules as regards the equipment for offshore oil and gas development facilities. Recommendations are set forth on monitoring and managing risks with detailed ...

Read More »

Dry bulk: Black Sea grains season reduces tonnage supply, pushes up freight rates

The Black Sea grains export season is heating up, adding extra long-haul demand for both Panamax and Supramax vessels in the Atlantic and giving freight rates yet another boost. An early flux of grain cargoes has been moved from the Black Sea towards the Far East, with Panamax freight rates averaging $22,000/day on a time-charter basis, up $5,000 from June dates. After a few months of quiet, the Black Sea region woke up to a fruitful 2017-2018 marketing year for grains, estimated to reach 38.31 million mt of exported goods, ...

Read More »

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping