Danish liner company Maersk Line has confirmed the release of the Marshal Islands-flagged containership Maersk Tigris earlier today. The ship is now en route to Jebel Ali (UAE) where Rickmers Shipmamagement will attend to the 24 crew members, Maersk Line added. The crew was reported to be in good co
Overcapacity and low fuel prices are bound to keep low dry bulk shipping freight rates for the rest of the decade or even longer, according to investment bank Goldman Sachs. With the daily charter rates dwindling, the bank predicts that the average utilization rate of the dry bulk shipping fleet wil
The seized Maersk Tigris containership has been released after being held in detention by Iranian authorities for over a week, IRNA reported citing a source at Iran’s Ports and Maritime Organization. The information has just been confirmed by the PMO, saying that after receiving a letter of guarante
The US Navy ships have stopped accompanying U.S.- and British-flagged commercial vessels in the Strait of Hormuz as there were no further incidents following the seizure of Maersk Tigris last week, Pentagon spokesman Army Col. Steve Warren informed. The navy ships started accompanying the U.S. and B
India and Iran signed on Wednesday an agreement that would enable India to investment in Chabahar Port development, situated on the Gulf of Oman, near Iran’s border with Pakistan. The deal paves way for the two countries to determine the terms of a commercial contract for the investment. The Governm
Danish liner company Maersk Line continues talks with Iranian authorities as it pushes for the release of the seized containership Maersk Tigris. “Today, we have had a constructive dialogue with the Iranian courts and Ports & Maritime Organization. Earlier today, we provided a letter of undertaking
April 2015 was the busiest month of the year for the dry bulk freight derivatives market, according to the figures compiled by the Baltic Exchange. In excess of 140,000 lots were traded in the Forward Freight Agreement (FFA) and options markets, a 60% increase on average volumes for the first three
The sixteen sailors who have been left to their own devices for months after their vessel MT Surya Kuber got seized in Bahrain due to unpaid debts are finally going to return to their homes. Fourteen Indian sailors left Bahrain on Monday night, whereas the two remaining crew members from Myanmar are
The track record so far for the large crude oil tankers seems to be holding its ground and while the year-to-date performance has been stellar, it seems as though things may get even better, according to Allied Maritime Research’s weekly market update. Namely, demand for energy continues to surge an
Izraeli container carrier ZIM Integrated Shipping Services has chartered a 5,042 TEU container ship from Diana Containerships for a period of up to twelve months, the vessel’s Athens-based owner said in a release. The 2005-built m/v Pamina (ex Santa Pamina) will bring Diana USD 15,325 per day for a
The United States plans to expand the escorting services of the US Navy in the Strait of Hormuz to allied nations’ ships, one of the countries being the UK. As informed, the talks are underway with countries who would like to seek protection of their vessels. The US Navy said last week that it would
Operations at the port of Saleef, the second most vital port in Yemen, are continuing as scheduled, unaffected by airstrikes on a military base in the region, GAC informed. The attacks were launched on Thursday, April 30th on a military base that is far from al-Saleef port, situated northwest of the
The tanker shipping arm of the National Shipping Company of Saudi Arabia (Bahri), National Company for Chemicals Shipping, signed on Thursday a memorandum of understanding to purchase two tankers. Under the deal, NCC will pay USD 28.5 million dollars per tanker. The duo, MS Berganger and MS Brimange
The seized Maersk Tigris containership remains in custody with Iranian authorities, according to Danish liner Maersk Line. The seizure of Maersk Tigris on April 28th by Iranian patrol boats is said to be related to a cargo dispute between a private company named Pars Talaee Oil Production Company an
