Panama Canal looks to boost transits in September as rains come early
The Panama Canal expects to increase the number of daily transit slots for vessels to 36 from the current 34 beginning in September, the canal’s deputy administrator said, as rains allow authorities...
View ArticleBaltic index drops to a three-month low on lower vessel rates
The Baltic Exchange’s dry bulk sea freight index, tracking rates for ships carrying dry bulk commodities, slipped to its lowest level in three months on Tuesday, weighed down by lower rates across all...
View ArticleIron ore retreats further as key China economic meeting, strong global supply...
Iron ore futures retreated further on Tuesday as the outcome of China’s key Politburo meeting and the strong global supply outlook both weighed. The most-traded September iron ore contract on China’s...
View ArticleChina demand concerns, risk-off sentiment drag copper and aluminium down
Copper prices in London extended their fall to the third consecutive session on Tuesday as concerns about demand in top consumer China and uncertainty about timing of interest-rate cuts worsened...
View ArticleBaltic index drops for ninth straight session on weaker vessel rates
The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, dipped for the ninth straight session on Wednesday as rates for all vessel segments...
View ArticleDalian iron ore futures close slightly lower on weak China data
Dalian iron ore futures closed slightly lower on Wednesday after drifting in a narrow range, as market participants weighed weak economic data from top consumer China against hopes of further monetary...
View ArticleDiana Shipping announces Q2 2024 financials & dividend
Diana Shipping, a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today reported a net loss of $2.8 million and a net loss attributed to common...
View ArticleSpecter of crippling strike looms over Korean shipyards
Concerns are growing that a potential labor dispute may dampen a long-awaited boom in the shipbuilding industry, as unionized shipyard workers prepare to strike in August, according to industry...
View ArticleNorwegian cruise lifts annual profit forecast again as cruise demand soars
Norwegian Cruise Line Holdings on Wednesday raised its annual profit forecast for a third time, riding on sustained demand for luxury voyages and higher ticket prices. With people continuing to...
View ArticleEuropean Commission launches Ship Financing Portal to boost the maritime...
The Ship Financing Portal, designed to improve access to financing for the shipping sector and the wider maritime industry, is now online. The platform, launched by the European Commission’s...
View ArticleMaersk Sees Red Sea disruption lasting through 2024
Based on preliminary figures, A.P. Møller – Mærsk A/S reports an unaudited revenue of USD 12.8bn, underlying EBITDA of USD 2.1bn and underlying EBIT of USD 756m (reported EBIT of USD 963m) for Q2...
View ArticleTeekay Tankers reports second quarter 2024 results
Teekay Tankers reported the Company’s results for the quarter ended June 30, 2024 Second Quarter of 2024 Compared to First Quarter of 2024 GAAP net income and non-GAAP adjusted net income for the...
View ArticleYang Ming appoints new president
Yang Ming Marine Transport Corporation has made a significant leadership change. On July 31, 2024, during its 396th Board Meeting, Yang Ming approved the appointment of Mr. Cliff Pai as the new...
View ArticleBaltic index hits over three-month low as rates for all segments drop
The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, dropped to a more than three-month low on Thursday, dragged down by weakness across all...
View ArticleIron ore rises to more than 1-week high on upbeat demand outlook, China...
Iron ore futures prices rose to a more than one-week high on Thursday, buoyed by top producer Rio Tinto’s optimistic demand outlook for top consumer China and continued hopes of more stimulus from the...
View ArticleFairwater, the newest Jones Act Energy and Chemical Transportation Provider,...
Crowley and SEACOR jointly announced the successful formation of Fairwater Holdings LLC. Fairwater, an independent U.S. company, integrates Crowley and SEACOR’s petroleum and chemical transportation...
View ArticleOPEC oil output rises in July on Saudi rebound, survey finds
OPEC oil output rose in July, a Reuters survey found on Friday, as a rebound in Saudi Arabian supply and small increases elsewhere offset the impact of ongoing voluntary supply cuts by other members...
View ArticleDrewry Port Equity Index Continues Rising Trend
The Drewry Port Equity Index continued to rise in 2Q24, gaining 3.1%, following a 1.6% increase in 1Q24, but the growth rate slowed QTD, with a modest rise of 0.6%. Overall, the index was up 5.5% YTD...
View ArticleUS drillers cut oil and gas rigs for first time in three weeks – Baker Hughes
U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The...
View ArticleCapital Product Partners announces second quarter 2024 Financial Results
Capital Product Partners L.P., an international owner of ocean-going vessels, today released its financial results for the second quarter ended June 30, 2024. Highlights Three-month periods ended...
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