The containership UMM Salal which ran aground off Malaysian Port Klang on April 6 was successfully refloated on April 7, United Arab Shipping Company (UASC), the vessel’s owner, told World Maritime News in a statement. The grounding occurred while the 13,500 TEU boxship was sailing from Port Klang t
EU Naval Force (EU NAVFOR) has confirmed that an Indian-flagged cargo dhow was seized by suspected pirates on April 1 and is now in the vicinity of Hobyo, Somalia. “An EU Naval Force maritime patrol aircraft has confirmed the exact location of the dhow and has attempted to establish radio communicat
Somali pirates have hijacked a cargo vessel en route from Dubai to either Bosasso, Somalia or Al Mukalla, Yemen, in the vicinity of Socotra, Dryad Maritime told World Maritime News referring to the data from United Kingdom Marine Trade Operations (UKMTO). The vessel is believed to have been taken to
CMA CGM, COSCO Container Lines, Evergreen Line and Orient Overseas Container Line (OOCL) launched the forty new services through the OCEAN Alliance on Saturday, April 1. The OCEAN Alliance comprises a total of 323 ships with an estimated total carrying capacity of over 3 million TEUs, and will run f
2017 should be a year of small profits for most container carriers but there will be very little room for error, according to shipping consultancy Drewry. The short-term outlook for the container shipping lines looks good as the worst seems to have passed, Drewry said. Drewry initially expected indu
Rates in the multipurpose shipping sector seem to have bottomed out as signs of market recovery emerge after ten years, with momentum expected to build over the next few years, Drewry’s latest Multipurpose Shipping Market Annual Review and Forecast 2017 says. Dry cargo demand is forecast to grow by
Following the first quarter of 2017 optimism seen in the containership industry, as well as the sentiment shift in the markets, the industry could be heading to healthier rates with earnings following the course, according to Maritime Strategies International (MSI). Freight rate improvements have re
Nakilat, the shipping arm of Qatar’s liquefied natural gas (LNG) sector, has assumed full ship management and operations of the Q-Flex LNG carrier Mesaimeer from Shell Trading and Shipping Company Ltd. (STASCo). With a cargo carrying capacity of 216,312 cubic meters, Mesaimeer is the sixth wholly-ow
New shipping alliances set to come into effect next week will lead to a shortage of options for freight forwarders, online freight forwarder iContainers said. Starting April 1 the previous four alliances will be regrouped to three, namely THE Alliance, Ocean Alliance and 2M. The effect of this new r
Representatives of the Iranian Government have signed investment contracts with private entities worth USD 1 trillion to develop Iranian ports, the country’s Ports and Maritime Organization (PMO) said. The contracts include investments of USD 10 billion in Mazandaran Province, USD 20 billion in Khor
Following a slow first half of 2016, port throughput rebounded in the second half of the year pushing the global container volumes up by an estimated 1.8% during the year, compared to 1.4% seen in 2015, according to Alphaliner. The fourth quarter of 2016 was saw a particularly strong volume growth o
Shipping confidence held steady in the three months to end-February 2017, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens. In February 2017, the average confidence level expressed by respondents was 5.6 out of 10.0, unchanged from
Due to a recent increase in the incidence of deck cargoes shifting in heavy weather, the London P&I Club said it supports a recommendation to appoint a warranty surveyor to supervise high-risk marine construction and transportation project operations where appropriate. “In the past year, LOC has see
Despite “significant challenges” in the industry, Dubai-based port and terminal operator DP World has posted for the first time a full-year net income of over USD 1 billion. The company’s profit for 2016 stood at USD 1.3 billion, compared to USD 970 million seen a year earlier. Moreover, DP World’s
