Baltic Index hits two-week low as capesize rates dip
The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, hit its lowest in over two weeks on Thursday, pressured by a dip in the capesize vessels....
View ArticleFlex LNG finalizes $430 million in new financings
Flex LNG announced that the aggregate $430 million of new financings announced in the Q2-2024 report have been completed according to plan with net proceeds of about $97 million. On September 24,...
View ArticleQatarEnergy LNG awards McDermott EPCI contract for the NFS Offshore pipelines...
McDermott has been awarded an engineering, procurement, construction and installation contract by QatarEnergy LNG for the North Field South (NFS) Offshore Pipelines and Cables Project. This new...
View ArticleThenamaris sells 180,100 dwt capesize bulker
Thenamaris is reported to have sold 180,100 dwt capesize bulk carrier Sealeader II. According to TradeWinds citing market sources, the 2011 built vessel has been sold to an unknown chinese buyer at...
View ArticleCMA CGM: Notice of force majeure – ILA strike
As of October 1, 2024, the existing contract between the United States Maritime Alliance, and the International Longshoremen’s Association is expired, and the ILA members have gone on strike. As a...
View ArticleGlobus Maritime expands fleet with new Ultramax vessel
Globus Maritime, a dry bulk shipping company, announced that it took delivery of the M/V “Glbs Magic,” a 2024 new built Ultramax dry bulk carrier, on September 20, 2024. The M/V “Glbs Magic” was built...
View ArticleSafe Bulkers declares quarterly dividend of $0.50 per share
Safe Bulkers, an international provider of marine drybulk transportation services, announced that the Company’s Board of Directors has declared: a cash dividend of $0.50 per share on its 8.00% Series...
View ArticleGoldman Sachs says crude could spike by $20 on Iran oil shock
Goldman Sachs says crude could spike by $20 on Iran oil shock Oil prices could shoot up $20 per barrel if Iranian production sees a hit, according to Goldman Sachs. U.S. crude futures rose around 5%...
View ArticleAPM Terminals extends concession for ACT in Jordan
Since 2006, APM Terminals, in partnership with Aqaba Development Corporation (ADC), has been operating in Aqaba, Jordan, and as a premier gateway and transit hub, it has served as the logistical and...
View ArticleEastern Pacific to add two ULECs to its fleet
The deal for 150,000 cu m vessels was announced at HD Hyundai Samho, each worth roughly about $207m. Eastern Pacific Shipping (EPS) to extend its orderbook for ultra large ethane carriers (ULECs) with...
View ArticleHercules Tanker Management orders ‘ultra-spec’ chemical tanker quartet
Hercules Tanker Management orders ‘ultra-spec’ chemical tanker quartet Hercules Tanker Management (HTM) – the new shipping venture established by Peninsula founder and CEO, John A. Bassadone – has...
View ArticlePPA S.A.: Three top awards at the Environmental Awards 2024
PPA S.A. has been honored with five prestigious awards, recognizing its outstanding performance in the vital areas of environmental protection and regulatory compliance. These distinctions highlight...
View ArticleFleet Management Limited appoints Chief Executive Officer
Fleet Management Limited, a part of The Caravel Group Limited, announces the appointment of Captain Rajalingam (‘Raja’) Subramaniam as the new Chief Executive Officer. He joins the Company on Monday,...
View ArticleBaltic index hits over two-week low as capesize rates fall
The Baltic Exchange’s main sea freight index fell on Monday, to touch its lowest in more than two weeks led by a dip in the capesize segment. The overall index, which factors in rates for capesize,...
View ArticleBIMCO and the International Chamber of Shipping issue guide to help...
BIMCO and the International Chamber of Shipping (ICS) have developed a guide which aims to help the shipping industry understand and reduce underwater radiated noise from ships and help the industry...
View ArticleD’Amico exercises MR tanker purchase option
d’Amico International Shipping, an international marine transportation company operating in the product tanker market, announces that its operating subsidiary d’Amico Tankers D.A.C., exercised its...
View ArticleEquinor acquires a 9.8% minority stake in Ørsted
Equinor ASA has acquired 41,197,344 shares in Ørsted A/S (“Ørsted”), corresponding to 9.8% of the shares and votes in the company. The transaction establishes Equinor as the second largest shareholder...
View ArticlePangaea completes the acquisition of Nordic Bulk Partners
Pangaea Logistics Solutions, a global provider of comprehensive maritime logistics solutions, today announced a definitive agreement to purchase the remaining 50% equity ownership of its consolidated...
View ArticleMiddle East tensions: Oil prices at risk of further increases
The oil markets may continue to rally due to fears of major production disruptions in the Middle East if the conflicts evolve into a wider regional war. Crude oil prices soared nearly 9% last week,...
View ArticleBaltic index falls over one-month low on weak capesize rates
The Baltic Exchange’s main sea freight index .BADI declined to a more than one-month low on Tuesday, pressured by falling capesize vessel rates. The overall index, which factors in rates for capesize,...
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