Although progress is being made for the upcoming implementation of the container weighing rules on July 1, it is clear that not all shippers will be ready to comply with the new International Maritime Organization’s (IMO) rule, according to shipping consultancy Drewry. A survey conducted by the cons
Qatargas Operating Company Limited (Qatargas) has shipped its first spot liquefied natural gas (LNG) cargo to Japan’s newly established energy company JERA. JERA is a joint venture between two of Japan’s largest power utility companies – Chubu Electric Power and TEPCO Fuel & Power. The delivery foll
Depending on the ship size, speed and fuel price, containership operators saw an increase of some USD 500 million in 2015 annual costs due to new sulphur requirements which are forcing owners to use higher cost fuel, considering all containerised trade in Emissions Control Areas, according to the la
Dubai-based shipping company United Arab Shipping Company (UASC) is going to decide on the business combination agreement with German counterpart Hapag-Lloyd AG (HL) at the beginning of next month. To that end UASC has today called an extraordinary general meeting for 2 June 2016 “in which the share
The USD 3 billion Trust Certificate Issuance Programme of DP World Crescent Limited, a special purpose vehicle established in the Cayman Islands by DP World Limited, has been assigned a provisional (P)Baa3 senior unsecured rating, while its outlook on the rating was set at stable, according to Moody
Due to the ongoing oversupply in the pressurised market, the LPG sector has seen a further slide in average rates for smaller and older vessels in the past twelve months as the rolling average dropped off about 15% from the end of Q1 2015 for the smaller vessels, whilst the larger vessels have held
Unless seafarer training levels are increased significantly, the growth in demand for seafarers could generate a serious shortage in the total supply of officers as the latest five-year BIMCO/ICS Manpower Report forecasts that an additional 147,500 officers will be required by 2025 to service the wo
Iranian oil tankers face no more obstacles when traveling to any port in world, says Ali-Akbar Safaei, managing director of the National Iranian Tanker Company (NITC). According to Safaei, quoted by IRNA news agency, NITC has secured all the required certificates from international insurance agencie
Provider of marine logistics services in the Middle East, Atlantic Navigation Holdings (Singapore) Limited, has received long term charter deals for ten offshore supply vessels with a combined value of USD 236 million from a Middle Eastern National Oil Company (NOC). Atlantic Navigation will supply
DP World Yarimca, one of the biggest container terminals in Turkey, has been officially opened for business by the President of the Republic of Turkey, Recep Tayyip Erdogan, the global marine terminal operator DP World said. The new container terminal, built in Kocaeli city, Körfez district, can han
Global carriers Hanjin, Hapag-Lloyd, “K”Line, Mitsui O.S.K. Lines, Nippon Yusen Kaisha and Yang Ming have agreed to create a new alliance, the companies announced today, confirming market rumors. As disclosed, the alliance will be covering all East-West trade lanes namely, Asia-Europe/ Mediterranean
Due to a rising production capacity in key exporting countries, chemical tanker shipping freight rates are expected to remain firm over the medium term, according to shipping consultancy Drewry. Since 2015, the US has started to export more and import less volume of liquid chemical products. US meth
2016 could prove to be the weakest year for box production since the collapse of 2009, with equipment increasingly in surplus and the prices decreasing, according to the global shipping consultancy Drewry. Prices for new dry freight containers declined to their lowest point since 2002 during the fir
The Netherlands-based APM Terminals is planning to provide container weighing services at 29 locations globally to enable compliance with the upcoming SOLAS verified gross mass (VGM) regulations, effective 1 July 2016. Namely, the new container weighing regulation prescribes that all packed shipping
