More crew were kidnapped at sea in 2016 than in any of the previous 10 years, despite global piracy reaching its lowest levels since 1998, according to the ICC International Maritime Bureau’s (IMB) annual piracy report. In its 2016 report, IMB recorded 191 incidents of piracy and armed robbery on th
The shipping industry sailed through difficult times during 2016, and today we take a look at how these conditions influenced the shipowners through an infographic showing the top 10 shipowning nations by value (USD million), provided by VesselsValue. Greek owners retain their top spot but in the ca
Danish container shipping company Maersk Line has added Iranian Port of Bushehr to its services, expanding its presence in this Middle-Eastern country. From Jebel Ali in the United Arab Emirates, the first sailing on a direct and weekly feeder connection to Bushehr commenced on January 4, 2017. The
Dubai-based shipping company Gulf Navigation Holding PJSC (GulfNav) has established a strategic partnership with Polimar Turkish Holding in the field of maritime agencies, shipping services and marine products. Under the agreement GulfNav’s maritime agency fleet will grow from four service boats to
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The shipping industry is expected to use a mixture of experience and innovation to navigate what is likely to be another volatile year for the industry in 2017, shipping adviser Moore Stephens said. The oil prices should continue on an upward trend on the strength of the recent OPEC production cuts.
Although the container shipping market remains fundamentally imbalanced, the new year brings with it fresh hopes for a recovery, according to Alphaliner. 2016 saw a number of records, most of them marking new lows for a container shipping market that continues to suffer from excess capacity, with th
The multipurpose shipping market is expected to see the first signs of recovery by the end of 2017, following in the steps of the dry bulk and container shipping markets, according to shipping consultancy Drewry. Dry cargo demand is weak but strengthening with multipurpose shipping market share expe
A new mandatory code for ships using gases or other low-flashpoint fuels has entered into force on January 1, 2017, along with new training requirements for seafarers working on those ships, according to International Maritime Organization (IMO). “The International Code of Safety for Ships using Gas
The 165,960 dwt containership MSC Clorinda is hindering traffic in the Suez Canal as the vessel stopped in the waterway due to undetermined issues, according to Wilhelmsen Ships Service. According to a spokesperson from Mediterranean Shipping Company (MSC), the containership reported a machinery tra
The global container fleet market is expected to grow at a compound annual growth rate (CAGR) of 3.19% during the period 2017-2021, according to a report issued by Research and Markets. The report identified Danish shipping giant Maersk, French CMA CGM, Mediterranean Shipping Company (MSC) and China
The shipping industry has its work cut out going forward in 2017 as the period will see another year of die-hard competition, which now includes tankers, according to international shipping association BIMCO. In 2016, the container shipping industry bit the bullet in terms of demolition and consolid
The latest phase of mass consolidation continues to see the container shipping industry sailing in uncharted waters and has emphasized the extent to which liner companies are having to restructure their business models in order to survive, according to Maritime Strategies International (MSI). MSI sa
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