Extremely poor demand for second-hand Panamax ships of 4,000 TEU has brought asset prices to the floor for that ship type and size. According to vesselsvalue.com, second-hand prices are down by 26% to 38% since the beginning of the year. This can be compared to positive developments in prices for al
The global shipping demand remains subdued by slow economic activity, according to BIMCO, as the International Monetary Fund (IMF) lowers the outlook for 2014 amid lower growth than expected. The IMF data forecasts world growth to come in at 3.3%; down 0.1 points from its previous estimate in July.
A paper published in Environmental Research Letters by the U.K. National Oceanography Centre’s (NOC) scientist Dr Svetlana Jevrejeva provides new information about the probability of a sea-level rise reaching 180 cm by 2100. In this study Dr Jevrejeva and colleagues explore the range of possible sea
Have you ever asked yourself what is the total number of seafarers in the world? Or maybe which country has the biggest number of seafarers? This infographic will provide you with a lot of interesting information that you probably didn’t know, so take a look. [mappress] World Maritime News Staff, Oc
Dubai-headquartered companies Transworld Group and Nawah have entered into a formal agreement to service Iraq’s growing demand for imports, linking their shipping, logistics, marine services and port capabilities. As part of their agreement, Transworld Group and Nawah Port Management, Nawah’s port o
The Marine Environment Protection Committee (MEPC) of the International Maritime Organization (IMO) is meeting for its 67th session from October 13 to 17, 2014, at IMO Headquarters in London. Items on the agenda include the review of environmental provisions in the draft Polar Code and associated dr
Transport & Environment, Seas at Risk and Carbon War Room have urged the United Nations’ International Maritime Organisation (IMO) not to withhold data on ship efficiency and fuel consumption. The call for action follows moves by some industry groups to undermine initiatives at the IMO and EU level
Moody’s Japan K.K. said its outlook for the global shipping industry is stable, with moderate EBITDA growth expected amid continued vessel oversupply. The outlook was previously changed to stable from negative in April 2014. “We expect mid- to high-single-digit percentage aggregate year-over-year EB
Thinking outside the box has sprung a myriad of innovations throughout history and it is what is keeping us “alive and ticking”. The maritime industry has had its share of innovative thinking, especially over the recent years with the swooping development of technology. As the shipping industry outg
The Global Shippers’ Forum (GSF) is calling for shippers’ carbon reporting requirements to be fully considered as the maritime sector develops technical and operational measures to reduce emissions, the organisation said in a release. Ahead of the International Maritime Organisation’s (IMO) Marine E
Three oil tankers, two Suezmaxes and one Panamax, have been banned from loading at Iraqi oil terminals as a reaction to direct exports of crude by the Kurdistan Regional Government (KRG) over the objections of Baghdad, Platts quoted shipping market sources as saying Friday, October 10. “The United C
European Union sanctions against Iran’s largest oil tanker company NITC have been lifted after there was no appeal by the EU to the General Court’s ruling against the EU’s 2012 blacklisting designation of the company, NITC said. An EU official told Reuters that the time for appeal had expired, but t
Israeli workers striking at Haifa port over the government’s plan to build privately-run ports on the Mediterranean coast close to state-owned Ashdod and Haifa ended their strike on Tuesday after a labour court ordered talks on employment conditions. The strike resulted in significant disruption of
The global shipping industry will see lower demand in coming years, all other things being equal, than was previously expected due to fragile and uneven global recovery, according to BIMCO. According to the latest Update of the World Economic Outlook from the International Monetary Fund (IMF), the g
