It seems that the worst is finally over for the bulker owners as the Baltic Dry Index (BDI) is expected to recover in April with stagnant supply and rising demand for vessels. According to UK-based shipping consultancy Drewry, supply is expected to slow down with a decline in newbuilding activity an
Despite positive growth momentum, the container shipping industry continues to suffer new, big ship deliveries with no let-up to the ordering frenzy, according to the Container Forecaster published by Drewry Maritime Research. Drewry forecasts another year of excess growth in relation to demand in 2
Infrastructure investment and the expansion of free trade zones as well as regulatory reforms are key for the continuing growth of Oman as a gateway and commercial center for the Persian Gulf Region, APM Terminals CEO Kim Fejfer said in a keynote address at the second annual GCC Supply Chain & Logis
The Round Table of international shipping associations (RT) comprising BIMCO, ICS, Intercargo and INTERTANKO is developing standards and guidelines to address the major cyber security issues faced by the shipping industry. Protection against malicious attacks on computer based systems onboard ships
Since 2012, industry progress has been driven by greater demand throughout shipping supply chains for transparency as well accelerating investments in alternatives to bunker fuel, the Sustainable Shipping Initiative (SSI) says in its report titled ‘Changing Context.’ The combined effect of greater c
The containership freight rate including ocean freight and surcharges, i.e. was quoted at USD 466 per TEU for the Shanghai to Europe trading lane on Friday April 10, 2015, hitting the lowest level on record since the 2009, according to BIMCO. The new all-time low point comes on the back of deteriora
Yemen’s producer and exporter of liquefied natural gas Yemen LNG Company is halting all operations due to further degradation of the security situation in the vicinity of Balhaf. With the battles approaching the coast of Shabwa province where Balhaf is located, the company has started evacuation of
The Nairobi International Convention on the Removal of Wrecks enters into force on Tuesday, April 14, 2015, the International Maritime Organisation (IMO) reports. The Nairobi convention places strict liability on owners for locating, marking and removing wrecks deemed to be a hazard and makes state
Navigation in Yemen’s territorial waters has been banned and ships are not allowed into Yemen unless inspected and approval by the Saudi-led coalition forces, BIMCO said in an update. The ban started yesterday after the Yemen’s Ministry of Foreign Affairs delegated the coalition forces to implement
A majority of seafarers are content with life at sea, according to preliminary results of a new survey being carried out as part of the BIMCO/ICS Manpower Report 2015. The survey of seafarers is the first of the targeted surveys for this year’s report. More than 500 seafarers have already responded
Qatar-based holding company Milaha has launched talks with United Arab Chemical Carriers Ltd. (UACC) on a possible combination of their respective product and chemical tanker businesses. “If successful, this move is expected to result in a larger and stronger business, provide better financial retur
A rapidly appreciating US dollar is helping exporters in some trading nations but not all, Drewry Maritime Research says. So, who is seeing the biggest lift to their export competitiveness, and who cannot keep up the pace? The US dollar is currently in hyper drive, appreciating at its fastest rate i
Interview: Milaha Working to Sustain Growth Momentum Qatar Navigation (Milaha) Q.S.C, a shareholding company with core interests in maritime transport and logistics, ended the 2014 fiscal year on a very profitable note… Read more Cruise Ship Held in Lisbon over Debt Dispute Cruise ship MV Azores wit
The National Shipping Company of Saudi Arabia (Bahri) reported SAR 399 million (USD 106.4m) net profit for the three months ended March 31, a 104.5% increase compared to the SAR 195 million net profit for the same period in 2014. Compared to SAR 124.3m net profit in the last quarter of 2014, Bahri i
