Niche carriers have both outperformed and vastly underperformed the top 16 carriers, with a high degree of volatility in schedule reliability, according to SeaIntel Maritime Analysis. “If on-time performance is a priority, niche carriers offer better rewards, but with higher risks.” The top 16 carri
World container trade appears to be back on track after two lean years, right on time for carriers that are taking delivery of big new ships, according to shipping consultancy Drewry. The recovery resulted in an upgrade to Drewry’s annual outlook for 2017, while more recent data suggests that the ou
Seafaring has been described as a vital support mechanism for the global economy by the International Maritime Organization (IMO) ahead of the Day of the Seafarer marked last July. However, seafarers across the globe still face various challenges when they venture out to sea ranging from poor commun
Qatar Ports Management Company (Mwani Qatar) and Qatar Chemical and Petrochemical Marketing and Distribution Company (Muntajat) have signed a memorandum of understanding (MoU) with an aim to benefit from Hamad Port’s services for a renewable five-year period. Under the MoU, Muntajat will export thro
US seaborne coal exports have turned years of negative growth around and seem to be climbing for a third quarter in a row, according to BIMCO. The increase is driven by a growing demand from European importers. East Asian buyers have also ramped up their import of US coal, which is beneficial for th
The growth of liquefied natural gas (LNG) carriers over the past decade has been synonymous with the growth in global LNG import and export capacity. However, in recent years the increase in LNG cargoes hitting the market has led to an oversupply problem, causing a significant decline in LNG spot pr
The shipping fleet trading in chemical and vegoil markets is set to accelerate at a much faster pace than demand, weakening earning prospects, shipping consultancy Drewry said. Tonne-mile demand is expected to grow at 2.9% in 2017, and the fleet trading in chemicals/vegoils will expand by 9.5% by th
India is looking to start operations at the Chabahar Port in Iran by 2018, according to the country’s Ministry of Shipping. The Minister for Road Transport & Highways and Shipping Shri Nitin Gadkari informed that the development project at the Chabahar Port has already started with civil constructio
The industry needs to redouble its commitment to comply with and enforce the IMO Marpol VI Regulations despite prevailing economic challenges, according to SEALNG, the multi-sector industry coalition promoting adoption of liquefied natural gas (LNG) as a marine fuel. In that context, the coalition h
Starting from August 16, 2017, all ships from international waters will be required to provide a ballast water sample and report when calling at Saudi Aramco ports and terminals, Inchcape Shipping Services (ISS) informed. As explained, the aim of this initiative is to ensure all ships comply with Ba
Marine transporter Qatar Navigation (Milaha) recorded a 51.7 percent decrease in its net profit for the first half of this year, impacted by a global downturn in the maritime industry. Milaha’s net profit dropped to QAR 267 million (around USD 72.8 million) in 1H 2017 from QAR 553 million (USD 150.7
Dubai-based port and terminal operator DP World has seen its Long-Term Issuer Default Rating (IDR) upgraded to BBB+ from BBB and Short-Term IDR affirmed at F2 by ratings agency Fitch Ratings. Fitch Ratings added that the rating outlook is stable. This follows on Fitch’s rating upgrade in August 2016
Global schedule reliability improved 2.3 percentage points to 74.6% in the second quarter of 2017, from 72.3% in reported in the previous quarter, according to market intelligence provider SeaIntel informed. Although the score increased on a quarterly level, it dropped by 10.4 percentage points on a
Spot rates in the Asia to Middle East market are seeing the most traction as container shipments on the route improved by 1.6% year-on-year in May, according to shipping consultancy Drewry. Although volumes registered in the first five months of 2017 were down by 2.6% to 1.3 million TEU, freight rat
