The dry bulk shipping market is expected to recover from 2017 onwards driven by a narrowing supply-demand gap, according to the shipping consultancy Drewry. Namely, demand is projected to grow at a healthy pace of 3% while supply could grow by about 1% from 2017. The growth in demand originates from
Two port agencies, the UAE-based Sharaf Shipping Agency (SSA) and Singapore’s Ben Line Agencies, have joined forces to establish a new global agency company for the wet and dry bulk shipping and commodity markets, WaterFront Maritime Services. To become operational on April 1, 2017, WaterFront Marit
Due to the tendency of trade routes to change pushing demand somewhere else, VesselsValue has put together a report showing the current state of affairs at the top 5 Panamax Bulker trade routes based on the total ton miles moved. Mainly a grains trade, especially soybeans, the volatile Panamax bulke
In an effort to attract major shipping companies, Iran said that it would impose no limitations for liners to revisit the country’s waters as a bilateral relation. The move follows the Danish shipping giant Maersk Line’s return to Iran on commercial grounds in the second half of 2016 after a five-ye
Dubai-based port and terminal operator DP World Limited saw a 3.2% year-on-year growth on a reported basis in its gross container volumes as it handled 63.7 million TEU across its global portfolio of container terminals in the full year of 2016. In the fourth quarter alone, gross reported volumes gr
Readers’ Picks of the Week (January 31 – February 3, 2017)
Nakilat, the shipping arm of Qatar’s liquefied natural gas (LNG) sector, has assumed full ship management and operations of Q-Max LNG carrier Al Dafna from Shell Trading and Shipping Company Ltd.(STASCo). With a cargo carrying capacity of 266,366 cubic meters, Al Dafna is wholly-owned by Nakilat and
In today’s spotted, we bring you an image of Maersk Elba, the largest containership to visit Israel’s Port of Haifa. The Neopanamax boxship docked at the port’s Carmel Terminal in the morning hours of February 2, 2017. The 13,092 dwt Maersk Elba features a length of 366 meters and a width of 48.2 me
The expected expansion of the chemical shipping fleet in 2017, driven by the large number of orders placed in previous years, will continue “squeezing rates on major routes over the next two years,” shipping consultancy Drewry said. Time charter rates weakened in 2016, especially for larger tankers,
The demand for container shipping grew steadily in 2016 improving the fundamental balance in the market in the second half of the year, driven by decisive actions by shipowners selling excessive tonnage for demolition, according to BIMCO. An early assessment of the overall market demand growth rate
Switzerland-based Mediterranean Shipping Company (MSC) has upgraded its New Falcon service by providing a direct call at Hamad Port. The new service is the first ever regular service between Hamad Port and Shanghai, according to Qatar Ports Management Company (Mwani Qatar). The upgraded New Falcon s
Liquefied natural gas (LNG) shipowners are facing a tough period as rates are expected to remain under pressure during 2017, according to shipping consultancy Drewry. This year has started on a positive note for LNG shipowners as spot rates have firmed up to the West of Suez because of seasonal dema
At the start of 2016 the outlook for Chinese iron ore import growth appeared challenging, however, the imports went on to significantly outperform expectations during the year and break the 1 billion tonne mark along the way, according to Clarkson Research. Chinese iron ore import growth performed a
Some five months after the collapse of Korean shipping group Hanjin Shipping, more than two-thirds of all Hanjin-operated containerships remains inactive, according to shipping consultancy Drewry. Although a number of ships was auctioned for a total of USD 460 million so far, Drewry estimates that t
