Africa
Drewry: Idle Boxship Fleet Increases across All Ship Sizes
Growing overcapacity is causing an increase in the idle containership fleet across all ship sizes and apparently in all seasons and, according to shipping consultancy Drewry, it is likely that some of the newly idled ships will be sold for demolition, particularly the older Panamax vessels. Increase
Oil rises after month of steady decline but oversupply still weighs
By Henning Gloystein SINGAPORE (Reuters) – Oil rose on Monday, driven by new orders as traders staked out positions at the start of the new month, but the market remains dogged by plentiful crude supplies, a flood of refined products, and a weakening economic outlook. Brent crude was at $43.72 per b
Popular news, July 25 – 31, 2016
Popular news, July 25 – 31, 2016
MV Benita Sinks while En Route to India
The bulk carrier MV Benita, which was under tow en route from Mauritius to India, sank some 93.5 nautical miles from Mauritius on July 30, according to Greek company Five Oceans Salvage. The vessel turned over by the stern at approximately 13:35 local time, after having earlier taken a severe stern
Readers’ Picks of the Week (July 25 – 29, 2016)
USD 43.8 Bn Fleet Awaiting Delivery in 2016 During the first half of 2016, some USD 28.4 billion worth of vessels have been delivered to their respective owners, while over USD 43.8 billion worth of ships is left on the orderbook to be delivered by year’s end… Read More Alphaliner: Weak Earnings Lea
Paris MOU to Inspect Working and Living Conditions on Ships
The Paris Memorandum of Understanding (MoU) on Port State Control will launch a Concentrated Inspection Campaign (CIC) on the Maritime Labour Convention, 2006 (MLC,2006). The aim of the CIC is to verify that the minimum standards for working and living conditions have been implemented on board. This
Interview: Government support essential to industrialize tidal
In the light of the recently announced tidal energy project in Japan, as well as other major tidal energy projects set for delivery this year in France and Canada, Tidal Energy Today spoke with Mr. Brendan Corr, CCO of the company at the forefront of tidal energy industry – OpenHydro.
Dryad: Kidnappings Continue in Gulf of Guinea
The Gulf of Guinea witnessed a continuation of the high levels of piracy seen in the first quarter of the year as 14 attacks occurred off the Niger Delta in April alone, resulting in the kidnapping of 10 crew from three vessels, according to data released by UK’s maritime intelligence and operations
Drewry: LNG Market Will Need More Vessels
Despite the current weakness in liquefied natural gas (LNG) shipping rates, the market will require more LNG vessels than listed on the current orderbook, shipping consultancy Drewry said, adding that it maintains its bullish long-term outlook for LNG shipping. Spot rates for dual fuel diesel electr
Drewry says 65 more LNG tanker orders needed by 2020
Shipowners will need to order an additional 65 vessels by 2020 to meet LNG shipping demand as new supplies are coming on-stream, according to the shipping consultancy Drewry. Despite the current weakness in LNG shipping rates, Drewry “maintains its bullish long-term outlook” for LNG shipping and bel
Damietta Port’s Total Volume Up by 22 Pct
Egypt’s Damietta Port recorded an increase in its total cargo volumes by 22 percent in the first half of 2016, compared with the same period last year. Volumes of handled cargo reached 16.5 million tons in the first half of the year, compared to 13.5 million tons during the same period in 2015. Furt
Moore Stephens: Shipping to Disclose or Risk Being Exposed
The shipping industry must adopt a transparent, proactive approach to corporate governance or else risk exposure to business and reputational damage, according to the international accountant and shipping adviser Moore Stephens. Corporate governance in shipping has been in sharp focus recently, part