Home / Shipping News / International Shipping News

International Shipping News

Global Deliveries Sending Out Mixed Signals

Despite the shipbuilding industry being under great pressure, global deliveries have exhibited some resilience and increased in 2015 and 2016 in dwt terms. However, due to the multi-cyclical nature of shipping, delivery levels varied greatly by vessel sector. Furthermore, delivery volumes would have been higher had it not been for ‘non-delivery’ of vessels on order reaching a record level. Tanker Deliveries Speeding Up There were a reported 1,665 vessels of a combined 94.5m dwt delivered in 2016, a 4% increase in dwt terms, although deliveries fell by 9% and 6% ...

Read More »

Troublesome paper certificates and why the maritime industry must embrace e-Certificates

As a result of ongoing commercial challenges and regulatory changes in the maritime industry, maritime organisations are undergoing many radical strategic and business model changes, including the drive to modernise outdated business processes. One of the prominent approaches for driving efficiencies, reducing costs and gaining competitive advantages has been through technological innovation. An existing example is the adoption of Electronic Chart Display and Information System (ECDIS), whilst the industry is also on the brink of numerous other developments, ranging from the paperless ship, to 24/7 ship internet connectivity and possibly ...

Read More »

Baltic index falls nearly 4 pct to weakest since mid-December

The Baltic Exchange’s main sea freight index marked its biggest percentage decline since mid-December on Friday as rates for larger vessels dipped due to limited activity. The Baltic index, which tracks rates for ships carrying dry bulk commodities, was down 3.86 percent. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 48 points at 1,195, its weakest since March 22. “Capesize and panamax vessels remain under pressure to close the week as both the Pacific and Atlantic markets remain rather quiet,” Clarksons ...

Read More »

Panama canal plans for ten-day east lane outage

The Panama Canal Authority will tentatively close the east lane of the canal for ten days from 9-18 May for maintenance. The Authority told Argus that it will confirm the outage approximately four-five days prior. The Authority has reduced the number of vessel booking slots during this period. The canal’s west lane will remain open allowing for south-bound and north-bound traffic to continue to pass. There will not be restrictions on the size of vessels operating in the west lane. The reduced transiting vessel traffic could affect the demand for ...

Read More »

Denmark as a global maritime powerhub

Ambitions are high and the recommendations concrete. Today, after almost a year’s work the maritime task force of the Danish Government presented its policy recommendations to the Danish Minister of Industry, Business and Financial Affairs. The guiding vision of the maritime task force is to strengthen Denmark as a global maritime powerhub by securing even better framework conditions for ship owners and other maritime industry working out of Denmark. Accordingly, the task force today presented a series of concrete proposals that touch upon all areas of the competitive framework for ...

Read More »

Korea losing port calls after Hanjin Shipping’s bankruptcy

Global shipping companies have reduced their calls at South Korean ports despite adding more worldwide services, partly a result of Hanjin Shipping going bankrupt, a research organization said Friday. Four different shipping alliances have been realigned into three major players — 2M, The Alliance and Ocean Alliance — in April after South Korea’s Hanjin, once the world’s seventh largest maritime transport company, went under the month before. CKYHE, the alliance that Hanjin had led, disappeared with it. The three alliances together ply 74 routes, more than 64 by the previous ...

Read More »

Concordia Maritime strengthens its position in the product tanker segment with charters of two ECO MR tankers (50%)

Concordia Maritime has signed a contract for the chartering of two IMO2/3 class MR tankers. This a joint chartering arrangement with Stena Weco, and Concordia Maritime’s share amounts to 50 percent. The contract is for one year, and the charters run from June and July 2017. The vessels were built in 2013 and are ECO-design tankers. They will be operated by Stena Weco, which has a fully integrated global logistics network for the transportation of petroleum products, light chemical and vegetable oils. The overall fleet comprises about 60 MR vessels. ...

Read More »

PSC meeting: How do Danish ships avoid non-conformities and detentions in PSC inspections? Congestion Charge By Shipping Companies

Drewry Maritime Research, a shipping consultancy of international acclaim, in its Annual Review 2016 of Global Container Terminal Operators has forecast a lackluster average global growth of 2.7 percent per annum for the next five years for global container ports as the industry moves from being a growth sector to emerging as a value sector. It turns out that the only global region wherein Drewry is confident of double digit growth happened to be the South Asia region of which Pakistan is a constituent. Indeed, the annual containerized growth rate ...

Read More »

MISC bids for contracts

MISC Bhd is bidding for contracts and looking to acquire assets in the floating production, storage and offloading (FPSO) sector to diversify its income stream. President/group chief executive officer Yee Yang Chien said the energy shipping firm is currently working on three to four potential mergers and acquisitions and bids in the FPSO segment that are related to greenfield projects globally. “Assuming that we secure these contracts, it might lift the contribution from the FPSO segment by one third. “We will make the appropriate announcement when the time comes, as ...

Read More »

Asia Fuel Oil-Arbitrage spreads at near 2-month high on rising tanker rates

Rising dirty tanker freight rates lifted the front month East-West (EW) arbitrage spreads to a near two-month despite falling fuel oil inventories in the Amsterdam-Rotterdam-Antwerp (ARA) oil hub and ample Singapore stocks. ARA INVENTORIES Fuel oil stocks in independently held storage in the ARA hub slipped by 2 percent, or 25,000 tonnes, to a total of 1.087 million tonnes in the week to April 20, data from Dutch consultancy PJK International showed. Fuel oil was the only petroleum product to show a fall in stock levels driven by a rise ...

Read More »

Prosafe highlights positive operational highlights in 2017 so far

The fleet utilisation rate in the first quarter of 2017 was 40 per cent. Safe Boreas continued the contract with Repsol Sinopec (formerly Talisman Sinopec) in UK and was in full operation throughout the quarter. The Repsol Sinopec contract at Montrose has been extended until 24 April 2017 at market adjusted rates. Safe Zephyrus completed the contract with Aker BP in Norway at the end of January and is currently laid-up in the UK. Safe Notos commenced its three-year and 222-day contract for Petrobras on 7 December 2016 and was ...

Read More »

‘No African carrier in global shipping trade’

The International Maritime Organisation (IMO) has disclosed that there is no single African carrier among the 35 ship-owner countries which constitute about 95 per cent of global shipping trade. IMO’s Secretary General, Kitack Lim, who dropped the hint yesterday at the third yearly conference of the Association of African Maritime Administrations (AAMA) in Abuja, noted: “Of the 35 ship-owning countries in the world, holding approximately 95 per cent of global shipping tonnage, none is from the African continent.” He added: “In a share of ownership by country grouping, developing countries ...

Read More »

NOSKE-KAESER Expands Space for In-house Production by 25 percent

Technology company NOSKE-KAESER is once again heavily investing in its own production facilities and in the field of air conditioning/ventilation, refrigeration, fire protection and CBRN technology is the only maritime supplier in Germany that relies on in-house production. Production space at the main location in Hamburg has thus been expanded by 25 percent. In addition to high-quality individual products for surface ships and submarines, special provision cooling systems for cruise ships and refrigeration systems are manufactured completely in-house over a production area of 2,200 sqm, and service orders are processed ...

Read More »

Coal shipping firm MBSS reports another loss

Publicly listed coal shipping company PT Mitrabahtera Segara Sejati (MBSS) continues to experience financial losses in 2016 owing to the fall in freight rates amid the country’s tight shipping market. The company reported the dismal performance in a press conference following its annual shareholders meeting in Jakarta on Thursday. “The decline has caused weak demand and low freight rates in the market,” MBSS vice president director Lucas Djunaidi told reporters at the same event. After seeing losses of US$10.2 million in 2015, the company experienced nearly triple net loss of ...

Read More »

ABS Awarded Subchapter M Solutions Contract

ABS, a leading provider of classification and technical services to the marine and offshore industries, has been awarded a Third Party Organization contract by The Great Lakes Towing Company (GLT) to support compliance with the United States Coast Guard (USCG) Subchapter M regulations. “Every organization operating towing vessels in US inland waterways will have to comply with Subchapter M,” says ABS Americas Division President Jamie Smith. “As an industry leader in towing vessel safety, ABS helps guide companies through the available compliance services to find the solution that best meets ...

Read More »

Recent Videos

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