Shipping firm HMM deploys new carbon capture system on vessels
HMM, Korea’s largest container shipper, deployed new proprietary technology in the voyage of 2,200 TEU (twenty-foot equivalent unit) container ships, aimed at reducing greenhouse gas emitted during...
View ArticleUS crude, products stockpiles seen down last week
U.S. crude oil and product stockpiles were expected to have fallen last week, a preliminary Reuters poll showed on Monday. Four analysts polled by Reuters estimated that crude inventories on average...
View ArticleJinhui announces capsize acquisition
The Board of Jinhui Shipping and Transportation Limited announced that a wholly-owned subsidiary of the Company entered into a memorandum of agreement on 2 July 2024 for the acquisition of a Capesize...
View ArticleTEN declares dividend on its Series F Cumulative Redeemable Perpetual...
TEN a leading diversified crude, product and LNG tanker operator, announced that its Board of Directors declared the regular quarterly cash dividend of approximately $0.59375 per share for its Series...
View ArticleFincantieri and Viking sign contracts for two cruise ships
Fincantieri and Viking have announced that they have signed contracts for the construction of two cruise vessels, based on the successful features of the previous ships, which Fincantieri has already...
View ArticleBaltic index snaps 5-day winning streak on lower vessels rates
The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, snapped its five-session gaining streak on Wednesday, weighed down by lower rates across all...
View ArticleVitol invests in future of LNG bunkering by securing three LNG Bunkering Vessels
Vitol has secured three LNG Bunkering Vessels (“LNGBV”) through its shipping company, Vitol International Shipping Pte Ltd (“VIS”). The vessels were secured via a seven to ten year time charter...
View ArticleKorea plans $1.4bn investment for smart shipbuilding projects
The Republic of Korea’s industry ministry said Tuesday it plans to pursue investment projects worth 2 trillion won (US$1.44 billion) over the next ten years with businesses to leverage smart and clean...
View ArticleIron ore at 4-week high on firm near-term demand, China stimulus hopes
Iron ore futures prices rose for a fourth straight session on Wednesday to their highest level in four weeks, supported by firm near-term demand in top consumer China and lingering expectations of...
View ArticleMSC hits record 20% market share of global containership capacity
MSC now holds a 20% share of the global container shipping market, in terms of capacity offered, a record in the liner industry – and the carrier is just “one big ship delivery away” from the 6m teu...
View ArticleRussian LNG exports up in H1 but set to fall due to maintenance
Russia’s liquefied natural gas (LNG) exports rose 2.7% in the first half of the year to 16.79 million metric tons, the Kommersant newspaper reported on Tuesday, but added volumes were set to decline...
View ArticleHapag-Lloyd CEO sees solid shipping demand driving up freight rates
Solid container shipping demand has driven up freight rates over the past two months, Hapag-Lloyd chief executive Rolf Habben Jansen said in a call with reporters on Wednesday. Attacks on vessels by...
View ArticleBaltic index hits one-week low on weaker vessel rates
The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell to a one-week low on Thursday, dragged by weaker demand across all vessel segments. The...
View ArticleUS crude exports to Europe hit two-year low in June
U.S. crude shipments bound for Europe fell to a two-year low in June as European buyers bought cheaper regional and West African oil, traders and analysts told Reuters. Exports of U.S. crude to Europe...
View ArticleIron ore climbs to 1-month high on robust demand, hopes of China stimulus
Iron ore futures extended gains into a fifth straight session on Thursday to erase most losses from the previous month, underpinned by robust near-term demand, improved steel fundamentals, a weaker...
View ArticleHouthi attacks fuel resurgence of Somali piracy
Attacks by Iran-backed Houthi militants on the Red Sea have reinvigorated piracy networks in Somalia, with criminal groups growing in both number and force, a European naval commander said. The...
View ArticleHMM hits back after Samsung D&D complaint with court claim for unpaid fees
HMM has turned the legal cannons on Samsung Electronics America (SEA), seeking $13m in unpaid shipping fees via the US District Court for the Central District of California. The South Korean carrier’s...
View ArticleAlimia Group orders MR2 newbuildings in China
Alimia Group has reportedly placed new orders for MR2 newbuildings. According to TradeWinds, the company has confirmed it has signed a contract to build five MR2 tankers at China’s Penglai Zhongbai...
View ArticleRosneft, Lukoil to cut oil exports from Black Sea’s Novo, sources say
Russia’s oil producers Rosneft, opens new tab and Lukoil, opens new tab will sharply cut oil exports from the Black Sea port of Novorossiisk in July, two sources familiar with a loading plan said, as...
View ArticleUS ports oppose tariff on China-made cranes
US ports are pushing back against the recently proposed 25 percent tariff on Chinese-made ship-to-shore (STS) cranes, warning that the increased costs would have a “substantial negative” impact on the...
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