Worldscale rates for VLCCs on the East of Suez routes have reached more than nine-month highs, Platts cited market participants as saying Thursday, November 27. The peak has been attributed to strong demand to move crude in the winter season, tight supply as charterers combine smaller cargoes and bu
The Panamax and 2,500TEU sectors continued to be the two areas that sparked the most interest and the highest volume of ships changing hands in the second-hand market last week. According to Braemar ACM Shipbroking, the ships that are being sold at the moment have been on the market for some time, a
Qatargas’ JBOG project in Ras Laffan saw its startup earlier this month, the video features an animated description of the processes.
Interferry, a global ferry industry association, has welcomed a decision at last week’s IMO Maritime Safety Committee meeting (MSC94) setting out rules for the location of fuel tanks on LNG-powered ships – a decision that the trade association says will safeguard further development of the LNG optio
Azerbaijan could be the link between Iranian gas and Europe according to Iranian President Hassan Rouhani.
Fuel costs could be cut by as much as USD 1 million a year if current price levels stay put for ships that burn 24 tonnes of fuel per day while steaming, the Baltic and International Maritime Council (BIMCO) said. This would be applicable assuming a difference from the average of the first half of 2
Media pressure, and particularly the posting of unverified stories on social media, has become a significant factor in major maritime search and rescue (SAR) events, according to Bruce Reid, CEO of the International Maritime Rescue Federation (IMRF). Planning and preparation remain the key to dealin
Two U.S. Naval supply ships collided in the Gulf of Aden November 20 at 5:26 a.m. local time with no injuries to crew members, the U.S. navy reports. USNS Amelia Earhart (T-AKE 6) and USNS Walter S. Diehl (T-AO 193) collided as they were beginning an underway replenishment operation. Initial reports
Small island developing states (SIDS) face severe and complex transport challenges, UNCTAD’s Review of Maritime Transport 2014 reports. For UNCTAD, the way forward requires a portfolio of measures spanning a range of areas, including trade logistics, climate change and resilience-building, energy, a
The Drewry All Earnings Index, which covers the main bulk shipping markets, jumped 53% in October to stand at 200 points on account of large gains for tanker owners, according to the Shipping Insight report published by shipping consultancy Drewry. Suezmax tankers registered a remarkable 400% gain o
The tendency to impose trade-restricting measures remains strong among the EU’s commercial partners, fuelling continuing uncertainty in the world economy, the European Commission’s annual report on protectionism shows. The 11th Report on potentially trade-restrictive measures focuses on the period b
Pakistan is looking to close the LNG imports deal with Qatar following a reduction in the asking price by Qatar.
The recent Containerisation International (CI) shipper sentiment survey has shown that shippers are worried about Vessel Sharing Alliances (VSA), with 70% of respondents expressing concern about the prospect of reduced competition with fewer global carriers, the Global Shippers’ Forum (GSF) reports.
IMO Secretary-General Sekimizu has opened the 94th session of the Maritime Safety Committee (MSC) on Monday, which is being chaired by Mr Christian Breinholt of Denmark. The MSC is expected to consider and adopt the Polar Code and related amendments to SOLAS to make it mandatory; approve SOLAS amend
