Container lines have shifted their focus towards alliance structures for operational efficiency, rather than relying on large scale technological innovation, according to research and consultancy firm Maritime Strategies International (MSI). With container lines continuing to seek cost savings, MSI
The European Shippers’ Council (ESC) has called on terminals that currently hold containers because of the financial troubles of container liner Hanjin Shipping, to “release those containers immediately.” Namely, ESC said that the terminals should release the boxes because the stationary containers
Severe overcapacity in the container shipping market and recently agreed contract rates on the transpacific trade lanes are keeping pressure high on the liner companies, according to BIMCO. Overall container demand grew around 2% in second quarter of 2016 compared to the same period a year earlier,
Lower growth rates for refinery throughput and drawdowns on swollen oil stocks has impacted the seaborne tanker market negatively, according to BIMCO. The refiners and traders, primarily in Asia, have reduced their appetite for crude oil as margins and profits have diminished. Global oil prices came
Qatar-based liquefied natural gas (LNG) company Qatargas signed a new sale and purchase agreement (SPA) with UK’s gas supplier Centrica to deliver up to 2 million tonnes of LNG per annum to Centrica until 2023. The company said that the LNG would be supplied from Qatargas 4, a joint venture between
The VLCC Berth 1 at the Port of Fujairah, UAE, has commenced operation on August 24, 2016, following the completion of its construction in June this year. First vessel was already accepted for cargo discharge and the second vessel for loading is scheduled to arrive at the port on September 5, 2016,
The long-term issuer rating of Global marine terminal operator DP World Limited has been upgraded to Baa2 from Baa3 and the long-term issuer rating of Jebel Ali Free Zone FZE (JAFZ) to Baa2 from Baa3, according to Moody’s rating agency. “Our decision to upgrade DP World’s ratings is a result of the
The first half of 2016 has revealed that the dry bulk market is nowhere near balanced as there was a strong demand growth from China, while the devastating freight rate levels over the same period remained strong, according to BIMCO. BIMCO’s data on seaborne iron ore imports into China, shows a grow
Singapore-based breakbulk, project cargo and heavy lift carrier AAL has loaded modules for a heat recovery steam generator (HRSG), destined for the Beni Suef power plant in Egypt, aboard its vessel AAL Dalian in South Korea. Commissioned by global logistics provider the LPL Group, this is the first
A total of eight container vessels are set to be transferred from Kuwait’s port of Shuwaikh to Shuaibah port over a period of three months starting from September or October, according to data from Kuwait Shipping Companies and Agents Association, provided by Wilhelmsen Ships Service. The route of t
Iraqi national company State Organization for Marketing of Oil (SOMO) has blacklisted three tankers which had been shipping crude oil from Kurdistan, according to Reuters. Namely, the company earlier noted that it would not allow the 1995-built oil tanker Maran Centaurus, the 2001-built Four Smile a
In today’s spotted we bring you a newly opened floating dock, located in Mina Zayed, UAE, and owned by Abu Dhabi Ship Building PJSC (ADSB), a provider of construction, repair and refit services for naval, military and commercial vessels. The floating dock was commissioned in mid-July and received it
Port developer and operator Abu Dhabi Ports has unveiled an expansion plan for Khalifa Port, a deepwater semi-automated container port, to enhance its operational readiness to handle larger container and cargo ships. The expansion at Khalifa Port will add 1,000 meters of quay wall to the port and de
Volatility in container shipping freight rates is expected to remain very high as long as over-capacity and carrier industry instability continue, according to shipping consultancy Drewry. Drewry’s Global Freight Rate Index, a weighted average of spot container freight rates across all major routes
