As the weak volume growth recorded in the first half of 2016 dragged full year volume projections down, Alphaliner said that the global container throughput is expected to grow by only 0.3% this year, marking the second lowest annual growth rate since 2009. Total throughput at the world’s top 30 con
A total of USD 1.6 billion was spend on second-hand vessels in July 2016, compared to USD 3.1 billion spent in the same month last year, representing a drop of 48% in the total value of second-hand sales concluded in the period, according to data provided by VesselsValue. Bulker and tanker sales wer
Charter rates on major dry bulk shipping routes are expected to recover due to increasing trade and contracting supply, according to shipping consultancy Drewry. “Demand for coal-carrying vessels will increase in the coming quarters because Japan has decided to increase its coal-fired power generati
Israel’s cargo shipping company ZIM Integrated Shipping Services Ltd. was the most reliable carrier during the second quarter of 2016, followed by Japanese counterpart Mitsui O.S.K. Lines (MOL) and German-based Hamburg Süd Group, according to the Global Liner Performance Report by SeaIntel Maritime
Yemeni Ash Shihr oil terminal resumed operations on August 2 with the arrival of an oil tanker, after it was closed in March 2015 due to hostilities in the country, Gulf Agency Company (GAC) said. The tanker arrived under the GAC Yemen agency at the terminal to load a shipment of Marsila crude. The
US-based Excelerate Energy L.P. is fast approaching its 1000th commercial Ship-to-Ship (STS) transfer of liquefied natural gas (LNG), which is set to be completed in late August. The operation will take place at one of the company’s floating storage and regasification unit (FSRU) projects in Dubai,
Time charter rates in the smaller chemical tanker vessel sizes are expected to remain stable over the next two years, but rates for the larger sizes, especially Medium Range tankers (MRs), will decline due to the impact of falling freight rates for clean petroleum products (CPP), shipping consultanc
Global Shippers’ Forum (GSF) has developed a plan to end container shipping surcharges within five years, GSF said during its Annual Meeting in Colombo, Sri Lanka. GSF is looking to end “the imposition of surcharges on shippers by 2020” through a series of actions “that will expose the scale and inj
Softening demand growth coupled with larger liner shipping alliances and bigger ships is moving the container ports industry towards a value sector from growth sector, albeit still highly profitable, according to a report released by global shipping consultancy Drewry. Global and international conta
Growing overcapacity is causing an increase in the idle containership fleet across all ship sizes and apparently in all seasons and, according to shipping consultancy Drewry, it is likely that some of the newly idled ships will be sold for demolition, particularly the older Panamax vessels. Increase
The Paris Memorandum of Understanding (MoU) on Port State Control will launch a Concentrated Inspection Campaign (CIC) on the Maritime Labour Convention, 2006 (MLC,2006). The aim of the CIC is to verify that the minimum standards for working and living conditions have been implemented on board. This
The Gulf of Guinea witnessed a continuation of the high levels of piracy seen in the first quarter of the year as 14 attacks occurred off the Niger Delta in April alone, resulting in the kidnapping of 10 crew from three vessels, according to data released by UK’s maritime intelligence and operations
Despite the current weakness in liquefied natural gas (LNG) shipping rates, the market will require more LNG vessels than listed on the current orderbook, shipping consultancy Drewry said, adding that it maintains its bullish long-term outlook for LNG shipping. Spot rates for dual fuel diesel electr
French container shipping major CMA CGM has launched Bengal Bay Express, a new direct service connecting Thailand, Singapore and Colombo to United States East Coast and Canada by deploying eleven 6,500 TEU vessels on a weekly basis. With this service, the company said it offers a fast connection fro
