Germany: Hamburg port workers on ‘warning strike’ over pay
Workers at the Port of Hamburg stopped work early on Tuesday, with their colleagues at Bremen-Bremerhaven taking the same action several hours later. The trade union Verdi wants to force employers to...
View ArticleNYK acquires gas, product tanker and bulker fleet from Eneos Ocean
Nippon Yusen Kabushiki Kaisha agreed to acquire Shipping Business of ENEOS Ocean Corporation from ENEOS Ocean Corporation on July 8, 2024. The transaction is subject to subject to approval and...
View ArticleSaltchuk welcomes overseas shipholding group to its family of companies
SEATTLE & TAMPA, Fla. – Saltchuk Resources, announced that it has successfully completed its previously announced tender offer to acquire all of the outstanding shares of common stock of Overseas...
View ArticleCMA CGM says its ship lost 44 containers in tough weather
French shipping and logistics company CMA CGM said on Thursday that its ship “Benjamin Franklin” had lost 44 containers in difficult weather conditions off the coast of South Africa on Tuesday. “No...
View ArticleStolt-Nielsen limited reports double first half profits compared to previous...
Stolt-Nielsen Limited reported unaudited results for the second quarter and first half ending May 31, 2024. The Company reported a second-quarter net profit of $100.2 million with revenue of $741.1...
View ArticleOPEC cuts calls on OPEC+ crude for 2024, 2025
OPEC has revised its estimates of demand for OPEC+ crude by 100,000 b/d for both 2024 and 2025, it said July 10 in its closely watched monthly oil market report. Its estimates of the call on OPEC+...
View ArticleBaltic index extends gains as rates for smaller vessels rise
The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, extended gains from the previous session on Thursday as rates for panamax and supramax vessels...
View ArticleChina books first purchase of U.S. 2024-25 soybeans
China has booked its first purchases of U.S. soybeans for the 2024/25 marketing year, buying 132,000 metric tons of the oilseed, the U.S. Department of Agriculture confirmed in a sales announcement....
View ArticleChina’s June soybean imports up 10.7%, buyers focus on Brazil crop
China’s soybean imports in June rose 10.7% from a year earlier, a Reuters’ calculation of customs data showed onFriday, as buyers stocked up on cheaper Brazilian beans ahead of the North American...
View ArticleAdani to double investment in Transshipment Port to $2.4 billion
Billionaire Gautam Adani’s conglomerate is doubling investment to $2.4 billion in its new mega port in southern India as it seeks to expedite expansion plans and lure some of the world’s largest...
View ArticleGunvor secures US $1.32 billion sustainability-linked syndicated RCF
Gunvor Singapore, a wholly-owned subsidiary of Gunvor Group Ltd, has closed a US $1.2 billion sustainability-linked, syndicated revolving credit facility on 14 June 2024. The Facility, which was...
View ArticleYemen’s Houthis Conduct Military Operations In Gulf Of Aden
Yemen’s Houthis said on Sunday they had conducted two military operations, one in the Gulf of Aden and one in Eilat at the southern tip of Israel. Houthi military spokesperson Yahya Saree said the...
View ArticleHD Hyundai Samho expands berthing facilities
South Korean shipbuilder HD Hyundai Samho Co. has expanded its berthing facilities to meet the growing number of orders for eco-friendly ships. The subsidiary of the country’s No. 1 shipyard HD Korea...
View ArticleDirty-to-clean switch caps high LR2 tanker freight rates as supply widens
Robust earnings on clean LR2 products tankers coupled with tonnage tightness due to the rerouting of ships from the Red Sea have prompted large-scale switching of dirty tankers into trading clean...
View ArticleBaltic index declines as capesize rates fall
The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, edged lower on Monday as rates for capesize vessels declined. The overall index, which factors...
View ArticleCOSCO SHIPPING Ports Abu Dhabi Terminal’s cumulative throughput exceeds 5...
On July 5th, CSP Abu Dhabi Terminal surpassed 5 million TEUs in throughput. Since its opening in December 2018, the terminal has launched over 20 international routes, and connected to more than 60...
View ArticleIron ore extends gains on China stimulus hopes
Iron ore futures prices rose on Monday, underpinned by growing bets top consumer China will unveil more stimulus in its third plenum this week after a batch of economic data disappointed investors....
View ArticleGreece extends naval drills that deter Russian oil transfers
Greece is again extending the naval drills that have largely deterred transfers of Russian oil near its coastline and forced them to other hubs across the world. The activity in the Bay of Laconia,...
View ArticleRio Tinto releases second quarter production results
Rio Tinto Chief Executive Jakob Stausholm said: “Our operational performance continues to progress. While there are still significant improvements ahead, we are beginning to see a step-change in...
View ArticleOOCL announces operational update for the 2nd Quarter 2024
Orient Overseas Container Line (“OOCL”) announced its unaudited operational update for the second quarter ended 30th June 2024. For the second quarter ended 30th June 2024, total revenues increased by...
View Article