JR Shipping Takes Over Universal’s Bankrupt Vessels Harlingen-based JR Shipping Group is taking over six container feeder vessels from Universal Marine upon request from Dutch Bremer Landesbank, the principal financier of the shipping CVs which operate the vessels.…Read more Shipowners Still Not Sol
The trend of ordering ultra large container ships seems to have picked up the pace recently as more and more lines look to expand their fleets with giant boxships. Drewry Maritime Research has investigated if the lines, many of whom are still in serious debt, will be able to both finance and pay bac
The Sub-Committee on Ship Design and Construction of the International Maritime Organization (IMO) approved amendments to SOLAS and other international documents at its second session (SDC2) held on February 16-20, 2015 at IMO Headquarters in London. The Sub-Committee approved the amendments to SOLA
Declining prices have made 2014 a very hectic year for the demolition market as less DWT and fewer TEUs were scrapped compared to previous years, according to the Baltic and International Maritime Council (BIMCO). Starting with containership market, initial estimates for 2014 were set relatively low
VIDEO: Freighter Sinks in the Black Sea St. Kitts and Nevis-flagged general cargo ship Fort Azov sank yesterday in the Black Sea, one mile off the coast near the town of Ayancik in Turkey’s Sinop province, the Haber Turk reports.…Read more India Intercepts Fleeing Russian Cargo Ship The Indian Coast
Korean yards have reclaimed the first place in global ship deliveries from their Chinese counterparts as they accounted for over a fourth of ships delivered on global scale in 2014. Korean shipbuilders had the largest share in Compensated Gross Tonnage (CGT) delivery scheme in 2014 with a 35% share
Recovery in dry bulk shipping rates not expected until at least the second quarter of 2015.
Kuwaiti Oil Tanker Fights Off Pirate Attack A Kuwaiti oil tanker sailing through the Gulf of Aden managed to fend off a pirate attack on Sunday, February 8th.…Read more Pieter Schelte Becomes Pioneering Spirit Swiss-based owner of Pieter Schelte Allseas Group SA said that the vessel is being renamed
A steep rise in vessel orders risks bringing the recent bonanza in oil tanker shipping to an abrupt end, according to the latest edition of Drewry’s Tanker Forecaster. Following recent modest growth, the oil tanker fleet is expected to reach new heights by 2016, climbing to 371 million dwt, Drewry e
The window of opportunity for carriers to order 18-20,000 teu mega ships is closing and those that do not make the leap will struggle to compete on slot costs, UK shipping consultant Drewry believes. According to Drewry’s Container Insight, there is not enough cargo for everyone to have ULCVs so fut
One Killed, Three Taken Hostage in Pirate Attack off Nigeria One crew member was killed and three taken hostage in a pirate attack on a Greek-owned tanker pending unloading off Nigeria late Tuesday, the Hellenic Coast Guard informed.…Read more Allseas: No Intention to Change Pieter Schelte’s Name Sw
Kuwait Oil Tankers Company (KOTC) has inked a deal with Bahrain-based Arab Shipbuilding & Repair Yard Company (ASRY) for dry-docking of record number of 19 tankers over three years. The value of the agreement is approximately USD 33 million, making it the largest of its kind made with shipyards acro
Maersk Giant Breaks 18,000 TEU Ceiling Maersk Line’s Triple E container ship behemoth Maersk Mc-Kinney Moller left the Spain’s Port of Algeciras yesterday loaded with 18,168 TEUs (twenty-foot equivalent units), beating the previous world record held by another Maersk’s Trip…Read more Another Car Car
Weaker ordering in the bulk carrier sector contributed to around half of the y-o-y decline in total contracting activity in 2014, according to London-based research firm Clarksons. Clarksons data shows that 677 bulkers have been ordered in 2014, cut by almost a half from very strong activity in 2013
