An oil tanker was bombed on Sunday by Libya’s government airplanes while anchored to offload fuel cargo at a terminal near the city of Sirte, controlled by Islamist leaders. One person was killed and another injured in the bombing that saw the tanker Anwaar Afriqya burst into flames, the Libya News
The Iranian aid ship bound for war-stricken Yemen will not proceed to its original destination as its cargo was taken over by the United Nations following an inspection in Djibouti, writes the AFP. Namely, according to the UN officials, the 2,500 tons of aid, bound for Yemen on board the Iran Shahed
Stolt-Nielsen Gas, a subsidiary Norway’s liquid bulk transporter Stolt-Nielsen Limited, and Sungas Holdings have agreed to sell up to 5 million common shares in Avance Gas Holding, expected to fetch up to USD 81 million. Stolt-Nielsen Gas and Sungas have sold or agreed to sell 2,500,000 common share
The Iranian cargo ship carrying aid to Yemen Iran Shahed has arrived in Djibouti, the Associated Press reported citing a US official. As reported by the FARS news agency, the ship entered the Djibouti waters on Thursday and is said to be anchored offshore. The US officials are reported as saying tha
Oversupply of vessels in the LPG coaster shipping market continue pushing rates below pre-financial crisis levels, according to the latest edition of Drewry’s LPG Forecaster. “Average 12-month LPG coaster time charter rates fell almost 15% between 2007 and 2014”, said Shresth Sharma, senior analyst,
Container service reliability reached a data-series high in April with the aggregate on-time performance for the three key East-West trades rising to 67.6%, up by 4.1 percentage points on March, according to Drewry’s Carrier Performance Insight. The previous best since Drewry’s new data series start
Iran’s cargo ship, said to be carrying humanitarian aid to Yemen, will be inspected after all as the ship will dock in Djibouti instead of sailing directly to the port of Hodaida. “We have decided to dock our ship in Djibouti so the United Nations inspection protocol can take place,” ISNA news agenc
Israeli shipping company ZIM posted a sharp improvement in its business results for the first quarter of 2015 recording a non-GAAP net profit of USD 35 million, compared to a USD 4 million loss in the last quarter and a USD 53 million loss in the parallel quarter in 2014. The operating cash flow in
The 2015 has started off as a pretty challenging year for the container shipping industry. With volatile spot rates coupled with oversupply and ordering of ever bigger ships, ship owners across the board seem to have a lot on their plates. World Maritime News wanted to know more about the direction
The volatility of global container shipping spot freight rates since the start of 2015 has continued to increase in comparison to 2014, according to rate assessments on 11 routes gathered by the World Container Index (WCI), jointly owned by Drewry alongside Cleartrade Exchange. Price turbulence on t
Middle Eastern container line United Arab Shipping Company (UASC) has established a wholly UASC-operated agency in Jordan. Uffe Østergaard, Chief Commercial Officer at UASC, said that Jordan is a key market for the line. UASC is therefore invested in recruitment of new staff to operate the agency in
The International Chamber of Shipping (ICS) voiced its fears that the unilateral stance taken at last week’s IMO MEPC meeting by the United States regarding the progress on ballast water implementation problems may actually have the opposite effect. ICS believes that shipowners can now have increase
The dry bulk shipping market is not expected to return to profitability until 2017, despite a modest recovery in earnings anticipated over the next two years, according to the latest edition of the Dry Bulk Forecaster, published by global shipping consultancy Drewry. The dry bulk market has always b
The Maritime and Port Authority of Singapore (MPA) has requested the Iranian maritime authorities to investigate last week’s shooting incident involving five Iranian Navy boats and a Singapore-registered tanker Alpine Eternity. MPA said that Singapore is deeply concerned concerned with such actions,
