Iranian cargo ship Iran Shahed bound for Yemen has entered into the waters of the Gulf of Aden, according to Iranian news agency IRNA. The ship, said to be carrying 2,500 tons of humanitarian aid to war-stricken Yemen, has heightened the existing tensions in the area as the Iranian navy said it woul
An oil product tanker is reported to had been fired at by the Iranian naval forces while transiting the Gulf on Thursday. Singapore-flagged tanker Alpine Eternity was approached by five Iranian Revolutionary Guard Corps Navy ships at about noon (0800 GMT), Reuters said citing U.S. officials. The shi
Containerization has reformed the ocean transportation of cargo becoming the standard method of moving goods across the globe today. Although the containers have simplified the shipping of large quantities of goods all round the world, there have been a number of incidents, which involved the loss o
Iran should be ready to shoulder responsibility for any kind of incident that may arise from its failure to let its cargo ship, which is said to be carrying humanitarian aid to Yemen, to be searched by Saudi-lead coalition before being allowed into the country, Yemen warned. Tehran “bears complete r
The International Maritime Organization (IMO) decided on Wednesday to postpone the discussion on the setting of a new global target for reducing greenhouse gas emissions from international shipping, proposed by the Marshall Islands. The Foreign Minister of the Marshall Islands, Tony de Brum, introdu
The ”disappointingly” slow pace of ratifications of the Ballast Water Management Convention and a recent approval of a European CO2 Monitoring Reporting and Verification system are causes for concern, the International Maritime Organisation’s Secretary-General Koji Sekimizu said in his opening addre
Moody’s Japan K.K. says the outlook for the global shipping industry over the next 12-18 months is stable. “Moody’s-rated shipping companies should report aggregate year-over-year EBITDA growth of around 5%-7% over the next 12 to 18 months. Our expectation indicates a stable outlook for the industry
Iranian navy plans to escort a cargo ship bound for the Yemeni port of Hodaida, which is controlled by Houthi fighters, Iranian news agency IRNA reported on Tuesday quoting a naval commander. The Iran Shahed cargo ship, owned by Tehran-based Valfajr Shipping, is said to be carrying humanitarian aid
Abu Dhabi Ports has seen volume increases across all of its different import and export trades in the first quarter of 2015, with its flagship Khalifa Port Container Terminal handling 302,151 TEUs for the period, a 35% boost year-on-year. Abu Dhabi Ports says one of the reasons behind this increase
Rising West Africa to Europe crude trade, dramatic increases in spot fixtures out of the Middle East Gulf and a more active Caribbean market had helped the Suezmax market outperform Very Large Crude Carriers (VLCCs) for most of last year, but the tide has turned in 2015, UK shipbroker EA Gibson says
A survey released by the International Transport Workers’ Federation has highlighted the need for continuing work on wellbeing among seafarers, as well as for debunking myths about HIV/AIDS. The major findings came in response to the questions about general wellbeing, with many of those quizzed repo
More vessels are being used to store crude oil based on a recent report by Poten & Partners covering the last 4-6 weeks. The trend has emerged countering the traditional economics that do not seem to support it at this point in time. Since early April, crude oil prices have rebounded from their mult
The activity on the demolition market is off to a good start in 2015 when looking at dry bulk tonnage, with Capesizes carrying the lions share, according to BIMCO. In 2014, 25 Capesize ships totaling more than 4.2 million DWT were scrapped. With not even half of the year behind us the numbers have a
The eastern Port of Derna has welcomed the first tanker since the bombing of a Greek-owned tanker by Libyan military forces back in January, the National Oil Corporation of Libya informed. Namely, a Maltese-flagged tanker Naftilos delivered a cargo of heavy fuel to Derna’s power plant a week ago, si
