Yemen’s Houthis say they targeted MV Groton in the Gulf of Aden
Yemen’s Iran-aligned Houthi movement said on Sunday that it targeted MV Groton vessel in the Gulf of Aden and also confirmed that it had downed a U.S. drone “MQ-9” over Yemen’s northern Saada...
View ArticleWind Energy Construction AS contracts VARD for one ECV
Vard signed a contract for the design and construction of one state-of-the-art Energy Construction Vessel (ECV) with Wind Energy Construction AS. The parties have also agreed on an option for one...
View ArticleBaltic index up for second day on higher capesize rates
The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, rose for a second straight session on Monday, helped by increased rates for capesize...
View ArticleIron ore hits two-week high on improved Chinese economic outlook
Iron ore futures prices hit a two-week high on Monday, buoyed by an improved Chinese economic outlook following strong services data and continued stimulus expectations from the world’s biggest...
View ArticleWallem Group and COSCO enter strategic cooperation agreement
Wallem Group, a leading global maritime partner, is pleased to announce it has signed a strategic cooperation agreement with COSCO Shipping Seafarer Management Company to enhance the cooperation of...
View ArticleMOL secures class approval for World’s First Wind-Assisted LNG carrier design
Mitsui O.S.K. Lines, Ltd. (MOL) has been awarded approval in principle (AiP) by Nippon Kaiji Kyokai (ClassNK) for the design of a membrane LNG Carrier installing Wind Challenger. This innovative...
View ArticleGlobal Ship Lease Reports Results for the Second Quarter of 2024
Global Ship Lease, an owner of containerships, announced its unaudited results for the three and six month periods ended June 30, 2024. Second Quarter of 2024 and Year to Date Highlights – Reported...
View ArticleArdmore Shipping announces leadership changes and cohesive updates to its...
Ardmore Shipping has announced a series of strategic leadership changes and updates to its commercial organization following news of the upcoming retirement of Founder and CEO, Anthony Gurnee and the...
View ArticleBaltic index hits one-week high on capesize strength
The Baltic Exchange’s dry bulk sea freight index rose to a one-week high on Tuesday, as gains in the capesize segment overshadowed declines in rates for smaller vessels. The overall index, which...
View ArticleIron ore drifts lower as falling near-term demand, high stocks weigh
Iron ore futures prices drifted lower on Tuesday as wider losses induced production cuts among steelmakers in top consumer China and lingering high portside inventories weighed on sentiment. The...
View ArticleKorean Shipbuilding Industry eyes on profitable container ships with high...
South Korea’s shipbuilding industry is experiencing a resurgence in container ship orders amid a period of high ship prices and ample order backlogs. This development comes as global new ship orders...
View ArticleIntermodal Weekly Market Report [W31]
The dry bulk market has seen a rise in secondhand asset values this year. While average earnings have remained healthy, the ratio between earnings and asset values has deviated from historical trends,...
View ArticleKorean shipbuilders in talks for $6.6 bn Qatar LNG tanker deals
South Korean shipbuilders are in talks with Qatar for expected $6.6 billion deals to manufacture additional liquefied natural gas (LNG) tankers as the growing demand for the carrier along with...
View ArticleMaersk continues with fleet renewal plan
In continuation of its fleet renewal programme initiated in 2021, A.P. Moller – Maersk (Maersk) is in the process of signing newbuilding orders and time-charter contracts for dual-fuel vessels...
View ArticleEuroseas reports best financial results in recent years
Euroseas, an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today its results for the three- and six-month periods ended...
View ArticleNakilat achieves QAR 829 million net profit for the first half of 2024
Qatar Gas Transportation Company Q.P.S.C. (Nakilat) and its Group subsidiaries announced their financial results for the first half of the year ended 30 June 2024, with a net profit of QAR 829 million...
View ArticleBaltic index climbs for fourth straight session on capesize gains
The Baltic Exchange’s dry bulk sea freight index rose for a fourth straight session on Wednesday, as gains in the capesize segment countered the losses in panamax and supramax. The overall index,...
View ArticleIron ore extends fall on China demand concern, high supply
Iron ore futures prices fell for a second consecutive session on Wednesday, undermined by weak near-term demand from top consumer China and growing concerns about consumption in the reminder of the...
View ArticleIndia now depends on Russia for 40% of its crude oil imports
“During the past three months, India has relied on Russia for 40% of its seaborne crude oil import. Year-to-date, volumes have reached an average of 1.6 million barrels per day (mbpd), an increase of...
View ArticleTeekay Corporation and Teekay Tankers announce Senior Management Changes
Teekay Corporation and Teekay Tankers announced the following senior management changes following a strategic review to simplify the management structure of the Teekay Group: Teekay Tankers’ President...
View Article