Thousands of people embark on life-threatening journeys in an attempt to find asylum in more developed countries, mainly Europe, in craft that are neither fit for purpose nor seaworthy. Almost 100,000 boat people have made the dangerous journey across the Mediterranean to Europe this year, a roughly
Market expectations for China to meaningfully reduce domestic iron ore production in favour of imports proved to be overly optimistic, CEO of shipping company Goldenport Holdings, John Dragnis said commenting on the third quarter results of the company. Dry bulk freight rates during the third quarte
Worldscale rates for hiring VLCCs to haul crude from the Middle East to Far East Asia hit a nine-month high Tuesday, December 9, Platts writes citing shipping sources. The record level of hiring rates has been attributed to strong resistance from owners and fall in the availability of tonnage for De
Maersk Line and Hamburg Sud are ranked as the two most reliable container shipping carriers by Drewry’s new online version of the Carrier Performance Insight. Drewry said that Maersk Line and Hamburg Süd were by far the most reliable carriers in the three months to October 2014 with overall on-time
The capacity growth in the Pure Car Carrier (PCC) sector for the next few years looks fairly moderate with the orderbook standing at 11% of the fleet, judging by Clarksons’ recent market review. Namely, trade is provisionally projected to grow by 5% in 2015, making up for some of the shortfall this
Container shipments from Europe to the Middle East and Indian subcontinent quickly bounced back from a seasonal decline in August, recording monthly growth of 1.8% in September, according to the latest Container Insight by shipping consultant Drewry. Growth of 17.5% year-on-year is further evidence
The International Chamber of Shipping (ICS) has published a fully updated edition of the definitive industry guidance on the safe operation of chemical tankers. The new edition of the ICS Tanker Safety Guide (Chemicals) replaces the previous edition issued in 2002. ICS recommends that a copy is carr
Careless errors by ship agents are resulting in costly claims, according to indemnity insurer ITIC. In the latest issue of its Claims Review, ITIC cites the case of a ship agent which incorrectly calculated two pro-forma invoices in respect of port dues, using the cheaper rate for a cargo of malt, r
A considerable slowdown has pushed tanker rates down in both Middle East Gulf (MEG) and West Africa, according Fearnleys weekly tanker chartering report. Relatively few cargoes are in play at the same time in MEG which is a major change from last week, the brokerage firm said. As indicated in the we
Member container lines in the Transpacific Stabilization Agreement (TSA) issued a recommendation for a further USD 1,000-per-40-foot container (FEU) general rate increase (GRI) for all origins and destinations. According to TSA members, the proposal reflects stronger than expected holiday traffic an
Dry bulk shipping is expected to continue its recovery, thanks to declining excess capacity, increasing iron ore shipments and rising grain trade, according to the latest edition of the Dry Bulk Forecaster, published by shipping consultancy Drewry. The dry bulk market rebounded in the third quarter
Operations at Aqaba Container Terminal (ACT), Jordan were halted on Monday morning as new dispute between the management and employees unravels at the facility. The disagreement resurfaced as workers opposed the new working hours regime proposed by the terminal’s management, introducing an eight-hou
Dubai-based Emirates Shipping Line is launching two new services – the Gulf Mombasa Express (GMX) and the Gulf India Africa (GIA) with partners. To make these services operationally effective, 4 vessels of 1600 – 2200 TEU nominal capacity will be deployed on GMX service and 6 vessels of 2500 – 2700
World chokepoints for maritime transit of oil are a critical part of global energy security because of the high volume of petroleum and other liquids transported by these routes. About 63% (56.5 million barrels per day) of the world’s oil production in 2013 moved on maritime routes, as indicated by
