Green Marine
Ocean Freight Rates Cut on Major East-West Routes
Ocean freight rates for cargo moving under contracts on the major East-West trade routes saw another reduction in the last quarter of 2015, according to Drewry’s Benchmarking Club. The Drewry Benchmarking Club Contract Rate Index, based on Trans Pacific and Asia-Europe contract freight rate data pro
Denmark Reinforces Sulphur Emissions Control
With the new action plan for 2016, published by the Danish Maritime Authority and the Environmental Protection Agency, regulations on ships’ sulphur emissions will gain more focus in both Denmark and the SECA (Sulphur Emission Control Area) countries. The goal of the action plan, made in cooperation
BDI Hits New All-Time Low
The new year is not off to a great start for the dry bulk shipping industry as the Baltic Dry Index (BDI) reaches new all-time low. BDI dropped by five points on Tuesday reaching its lowest level yet of 468 points since its previous record low of 471 points posted in December last year. Capesize ind
Seven Bidders in the Race for Croatia’s LNG Terminal
A total of 7 bids have been submitted by investors interested in building a liquefied natural gas (LNG) terminal on Croatian island of Krk in the Adriatic Sea, LNG Croatia LLC informed. The bidding process concluded on 31st December 2015 at 12:00am, with industrial investors submitting offers by 30t
Offshore Headwinds Lead Havila to Restructuring
Norway-based offshore vessel owner Havila Shipping is preparing for “severe financial challenges for the period 2016-2018” as the offshore market is suffering strong headwinds. “The market for offshore vessels is characterized by supply far exceeding demand. As a consequence of low fleet utilization
Two More Bodies Confirmed as Thorco Cloud Crew Members
The two lifeless bodies of the three found by local search and rescue teams near the sunken Thorco Cloud in the Singapore Strait have been confirmed as two of the initially six missing crew members. The six crew members of the Antigua and Barbuda-flagged freighter Thorco Cloud went missing after the
BIMCO: 2016 Another Challenging Year for Shipping
As the 2016 dawns upon us, the shipping industry should brace itself for yet another challenging year, according to BIMCO, as hope for a bounce-back in 2016 fades away. Despite this, the International Monetary Fund has forecast higher GDP growth rates for 2016 across the board. The shipping industry
MSC Makes a Comeback to Iran
Container shipping company Mediterranean Shipping Company (MSC) has returned to Iran following a 6-year suspension of services due to sanctions imposed against Iran which are now about to be lifted. Namely, MSC containership Domitille has berthed at the country’s port of Shahid Rajei, as disclosed b
2015 Deadliest Year for Migrants Crossing the Med
With over 3,770 estimated deaths, 2015 has been the deadliest year on record for migrants and refugees crossing the Mediterranean, trying to reach Europe, data issued by the International Organization for Migration show. In comparison, approximately 3,270 deaths were recorded in the Mediterranean in
Rotterdam Handles 51 Giants with Fuel Oil in 2015
The Dutch Port of Rotterdam saw 51 very large crude carrier (VLCCs) discharge and/or load fuel oil during 2015, 22 more of these 200,000-320,000 dwt giants than in 2014. With these, a total of 283 VLCCs visited Rotterdam during a period of ten years. Two thirds of the 51 VLCCs handled discharged cru
UASC’s Record Breaking Load Enters DP World London Gateway
One of the world’s largest container ships, Al Muraykh, carrying a recorded 18,601 TEU docked at DP World London Gateway Port on January 1. Owned by the United Arab Shipping Company, the vessel left Malaysia’s Port Klang carrying the most ever shipping containers on board a vessel and arrived at DP
Shipping Bodies Launch Cyber Security Guidelines
Shipping organizations comprising BIMCO, CLIA, ICS, INTERCARGO and INTERTANKO have launched a set of guidelines to help the global shipping industry prevent major safety, environmental and commercial issues that could result from a cyber incident onboard a ship. The cyber guidelines launched today a
Spotted: Port of Montreal Hosts First Vessel in 2016
The Marshall Islands-flagged bulk carrier Vigorous became the first ocean-going vessel in the morning hours of January 1 to reach the Port of Montreal without a stopover in 2016. The 2013-built bulker, operated by Vigorous Shipping and Trading, departed the Omani port of Sohar on November 30, 2015.
Readers’ Picks of the Week (Dec 28 – Jan 1, 2016)
China Fines Eight Liner Companies Eight container shipping companies are facing fines from China’s Ministry of Transport for violation of freight rate-related regulations… Read More China Teaches Seven Car Carriers a Lesson China’s National Development and Reform Commission NDRC has fined seven ship