Former director of OW Bunker’s Dynamic Oil Trading (DOT) subsidiary in Dubai Jesper Jervild has established a bunker broking company following OW Bunker’s demise. Aside to bunker broking, the newly-established Liberty Marine said it would also offer in house bunker broking services. The aim behind t
Abu Dhabi Ports handled more cargo last year than ever before, with the number of containers handled through Khalifa Port and the volume of general and bulk cargo handled through all of ADP’s ports increasing by 26% and 37% respectively, compared to 2013. The Khalifa Port Container Terminal which is
United Arab Shipping Company (UASC) has appointed the Ultramar Group as its local liner shipping agency partner in Brazil, Argentina and Uruguay as the liner company eyes greater presence in South America. The appointment comes in the wake of UASC’s long-term general cooperation agreement with the H
The Baltic Dry Index (BDI) has fell to 564 points on Thursday hitting the lowest in almost thirty years. The BDI marked a loss of 10.7% in the past week and is just 10 points off its lowest level reported in July 1986. The fall has been influenced by structural overcapacity as there are too many shi
The Icelandic provider of energy management solutions for maritime industry Marorka has posted this image to announce the contract with United Arab Shipping Company (S.A.G.) to deliver ship performance monitoring solutions. The company says its Marorka Wallboard energy management system will help op
Chassis is a term that refers to a rectangular steel frame, supported by springs and wheeled axles constructed to accept mounting of containers for over-the-road transport of shipping containers. The United States is the only large market where ocean carriers own and provide chassis to truckers to m
Ten-year old tankers will outperform their younger counterparts, according to McQuilling Services Industry’s Sharpe Ratio analysis on VLCC and Suezmax tankers. McQuilling bases its argument on recent asset prices for the 10-YR old VLCC and Suezmax vessels, which have appreciated by 21.2% and 44.9%,
A Container Freight Station or CFS is a shipping dock where a cargo is loaded into, or unloaded from containers. Generally, this involves less than containerload shipments, although small shipments destined to same consignee are often consolidated. Container reloading from/to rail or motor carrier e
The 33rd flotilla of the Iranian Navy fended off pirate attacks on two Iranian oil tankers in the past week, the FARS news agency reports. Armed pirates in five speed boats attempted to hijack an oil tanker in the waters of the Gulf of Aden three days ago, however; their attack was deterred by the [
DP World Limited’s gross container volumes grew by 8.9% on reported basis and 8.0% on a like-for-like basis during 2014, the latest figures show. Namely, DP World handled 60 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during 2014. DP World said that
A Vessel Sharing Agreement (VSA) is usually reached between various partners within a shipping consortium who agree to operate a liner service along a specified route using a specified number of vessels. It is not necessary for each of the partners to have an equal number of vessels. The quantum of
With the upcoming entrance into force of the Nairobi International Convention on the Removal of Wrecks on 14th of April 2015, new regulations will be implemented affecting all signatory countries. Among several provisions, the Convention is aimed at placing financial responsibility for the removal o
A mild shift in the speeds of containerships, especially on the head-hole, can be expected as new liner mega alliances endeavor to speed up their transit times, according to UK shipping consultant Drewry. Aiming to polish up their brands, liner giants that have joined their operating pools are likel
Automatic Identification System or AIS is a system used by ships and Vessel Traffic Service (VTS) principally for the identification and locating of vessels. The system is intended to assist a vessel’s watchstanding officers and allow maritime authorities to track and monitor vessel movements. AIS i
