Radioactive SUV Found Aboard Carrier in Vladivostok Customs officials at the Russian port of Vladivostok held up the Malacca Highway, a Panama-flagged Ro-Ro car carrier on September 11, 2014, upon discovering one of the vehicles aboard emitted radiation.…Read more Maersk Line to Spend USD 3 Bn a Yea
Worldscale rates for VLCCs on West Africa-to-Far East routes are at steep premiums to rates for Persian Gulf loadings due to many owners’ resistance to long voyages, Platts said quoting market participants. “The Persian Gulf-to-Far East route was assessed at w34 Thursday. The West Africa-to-Far East
China Harbour Engineering Company (CHEC) has been chosen to build a new port in Ashdod, The Times of Israel reports. Israeli Prime Minister Benjamin Netanyahu said during the signing ceremony that the new facility will serve as an important link in a new east-west trade route. Construction works on
Five-year credit default swaps (CDS) for offshore drilling companies in North America have widened 46% over the past month and 20% over the last week, underperforming other sectors in the region, according to Fitch Solutions. New York-based rating agency Fitch Ratings said that CDS have likely widen
For the first time, scientists have shown that ocean warming has had a global impact on the mix of species caught by fishermen, The Pew Charitable Trusts reports. Previous studies indicated that some species are shifting location in response to temperature increases, with fish gradually moving away
United Arab Shipping Company (UASC) and Hamburg Süd, have signed a global cooperation agreement. The agreement came after a series of discussions focused on the companies’ respective customers’ business needs, key growth areas, and operational requirements. The need to address logistical imbalances
Tanker market players have not lost their hope for an increase in tanker rates, however little movement is expected in the product tanker sector. According to the latest survey figures by Moore Stephens, there was a fall in the number of respondents anticipating higher rates in the dry bulk and cont
Overall confidence levels in the shipping industry fell slightly during the three months to August 2014, according to Moore Stephens’ latest Shipping Confidence Survey. The confidence is, however, still higher than at the corresponding period twelve months ago, and confidence among charterers actual
The total Green House Gas emissions from global maritime transport are estimated to have been over 20% lower in 2012 than in 2007, according to the International Chamber of Shipping (ICS), the global shipping industry’s trade association. The global shipping industry, which transports by sea around
The concept design of Abu Dhabi’s planned permanent cruise passenger terminal was unveiled at Seatrade Med 2014, which took place from 16-18 September in Barcelona, Spain. The model was showcased by Abu Dhabi Ports Company (ADPC) following an international design competition and extensive industry s
Iran is ready to re-establish the Baku-Anzali shipping line to improve its ties with Azerbaijan. Reza Mansour, head of the Anzali Trade-Industrial Free Zone Organization said re-launching the shipping line could strengthen the ties between the two countries, tourism especially, Fars News Agency repo
Over one hundred issues, including container safety, were considered in the course of plenary sessions and working group meetings at the first session of the IMO Sub-Committee on Carriage of Cargoes and Containers (CCC) held at the Headquarters of the International Maritime Organization (IMO) betwee
International Maritime Organisation (IMO) Secretary-General Koji Sekimizu has disclosed his decision not to seek reappointment at the fulfilment of the current term at the end of 2015. Secretary-General Sekimizu stated that reasons of personal nature led to the decision not to seek reappointment. “I
Shipping Corporation of India (SCI) and Iran Shipping Lines are finding it hard to wrap up their 39-year-old joint venture Irano Hind Shipping Lines due to the differences in the valuation of the company. SCI estimates its 49% stake in the joint venture to be USD 132 million, while Iran Shipping Lin
