The opportunities for further mergers and acquisitions among Top 20 carriers are receding with each new deal, but there is still a high likelihood that a second wave involving medium-sized carriers will follow soon, according to shipping consultancy Drewry. Carrier consolidation is moving apace with
Readers’ Picks of The Week (June 12-16, 2017)
One crew member sustained injuries when an Emirati ship carrying medical supplies was attacked by a missile fired by Iran-backed Houthi militias, Saudi Press Agency (SPA) reported, citing a statement issued by the Command of Coalition for Supporting Legitimacy in Yemen. As informed, the incident occ
The Suez Canal Authority (SCA) plans to extend until December 31, 2017, the reduction of rates offered to containerships coming from Eastern America ports and heading to South and South-East Asian ports, GAC informed. Specifically, boxships coming from the Port of Norfolk and its northern ports en r
Qatar Petroleum’s Wave LNG Solutions and Shell Gas & Power Developments are looking to develop liquefied natural gas (LNG) marine fueling infrastructure at strategic shipping locations across the globe. Under the framework agreement, signed on June 13, the parties said that they plan to evaluate and
Large shipping losses have declined by 50% over the past decade, largely driven by the development of a more robust safety environment by shipowners, according to Allianz Global Corporate & Specialty SE’s (AGCS) fifth annual Safety & Shipping Review 2017. 85 large vessels were lost worldwide in 2016
If crude oil vessels from Qatar are banned from entering neighboring countries’ ports, it could have a small negative impact on the VLCC market, although Aframaxes and Suezmaxes may benefit, Poten & Partners said, reflecting on the implications of the Qatar crisis for the tanker market. With co-load
Vessels which have loaded in Qatar and wish to bunker in Fujairah, the UAE, may be able to do so as long as they are not Qatari-flagged or owned, law firm Ince & Co informed citing the Port of Fujairah’s updated circular. Initially, the port banned the calls of Qatari-flagged ships in addition to an
Container shipping major Maersk Line said that it has now opened acceptance of cargo to/from Qatar to be transshipped over Port of Salalah, Oman. However, Maersk Line stressed that booking acceptance is open for all countries except UAE, Saudi Arabia, Bahrain, Egypt and Yemen in compliance with the
Qatar is launching a new direct line connecting the Port of Hamad with Omani counterpart, the Port of Sohar, the country’s Ministry of Transport and Communications said. The new service enables the country to bypass the Gulf neighbors that imposed restrictions on Qatari ships following a diplomatic
In an oversupplied market carriers have proved to be fairly adept in manoeuvring capacity around, creating fertile conditions for rate increases, according to shipping consultancy Drewry. After five months of 2017 Drewry’s Global Freight Rate Index stands 37% higher than it was in the same period la
Readers’ Picks of the Week (June 5-9, 2017)
As the tensions between Qatar and its Middle Eastern neighbors heat up on the back of severing of diplomatic ties on Monday, June 5, the shipping industry is bewildered by the potential impact the move might have on the industry. Companies with trade routes to and from Qatar are already feeling the
A liquefied natural gas (LNG) carrier Wilforce is transiting the Suez Canal fully-loaded with Qatari LNG, the vessel’s latest AIS data shows. The cargo is destined for Barcelona, with estimated time of arrival being June 15. The Norwegian-flagged LNG carrier, built in 2013, loaded its cargo in Ras-L
