16 missing after oil tanker ‘Prestige Falcon’ capsizes off Oman
The 16-strong crew of a Comoros-flagged oil tanker that capsized off Oman are still missing, the country’s maritime security centre said on Tuesday, a day after the sinking was reported. The crew of...
View ArticleShipowner denies Houthi attack claim
Yemen’s Houthis did not attack the Cyprus-flagged Olvia tanker in the Mediterranean, the ship’s owner told Reuters on Tuesday, while maritime security sources said no vessel had been hit in those...
View ArticleOceanPal announces agreement to acquire an MR2 tanker vessel
OceanPal, a global shipping company specializing in the ownership of vessels, announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to acquire an MR2...
View ArticleWFW advises ABN AMRO & ING on $245M loan to Tsakos Energy
Watson Farley & Williams advised ABN AMRO BANK N.V. and ING BANK N.V. on a US$245m term loan facility granted to Tsakos Energy Navigation Limited for the financing of a fleet of tanker vessels....
View ArticleYangzijiang Shipbuilding working to acquire over 866,671 sqm of land for new...
Yangzijiang Shipbuilding is working to acquire land use rights of about 1300 Chinese mu – or 866,671 sqm – of land in Jiangsu Province, China, to establish a new clean energy ship manufacturing base....
View ArticleIntermodal Weekly Market Report [W28]
In February 2024, we discussed the impact of the integration of the Energy Efficiency Existing Ship Index (EEXI) and Carbon Intensity Indicator (CII) regulations, alongside the Emissions Trading...
View ArticleSeacon sells supramax bulk carrier
Seacon Shipping announced a transaction involving the sale of a bulk carrier vessel for USD 13.8 million, with delivery scheduled between August 1 and October 15, 2024. The deal is significant enough...
View ArticleOman says crew member of capsized tanker found dead and nine rescued
Omani authorities say nine members of a 16-strong Indian and Sri Lankan crew have been rescued, after going missing when their oil tanker capsized off the coast of Oman on Monday. One other has been...
View ArticleMaersk says Red Sea shipping disruption having global effects
Denmark’s A.P. Moller-Maersk said on Wednesday that disruption to its container shipping via the Red Sea had extended beyond trade routes between the Far East and Europe to its entire global network....
View ArticleBaltic index hits one-month low as capesize rates slide
The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell for the third straight session to a one-month low on Wednesday as capesize rates...
View ArticleIron ore slumps to three-week low on weak China demand, strong global supply
Iron ore futures prices slumped to a nearly three-week low on Wednesday, undermined by weak seasonal demand from top consumer China and mounting global supply. The most-traded September iron ore...
View ArticleBHP reports record iron ore production and sales
BHP has released its Operational Review for the year ended 30 June 2024. BHP Chief Executive Officer, Mike Henry:“We finished the year with a strong fourth quarter, achieving several production...
View ArticleVARD signs contract on a CSOV with Rem Offshore
VARD has signed a contract for the design and construction of a state-of-the-art CSOV for Rem Offshore. This is the third CSOV (Commissioning Service Operation Vessel) VARD delivers to REM Offshore....
View ArticleDry bulk newbuild contracting fell 34.2%, despite a strong market
“During the first half of 2024, newbuild contracting in the dry bulk sector fell 34.2% y/y despite favourable market conditions. A 6.5% y/y increase in prices could be deterring contracting, yet in...
View ArticleBaltic index snaps 3-day losing streak on capesize demand
The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, snapped a three-session losing streak on Thursday, helped by higher rates for capesize...
View ArticleThroughput port of Rotterdam virtually unchanged in first half 2024
Cargo throughput in the port of Rotterdam remained virtually unchanged in the first half of 2024 compared to the same period last year. Cargo throughput reached 220.0 million tonnes. This is 0.3%...
View ArticleLNG Carrier Bottleneck grows on slow Freeport LNG restart after Beryl
The number of liquefied natural gas (LNG) tankers waiting to load at Freeport LNG in Texas has increased since the U.S. second largest exporter of the supercooled gas halted processing ahead of...
View ArticleSuez Canal revenue drops as some shippers shun Red Sea
The Suez Canal‘s annual revenue dropped by almost a quarter in its latest financial year as some shippers switched to alternative routes to avoid attacks by Iran-aligned Houthis in the Red Sea. Osama...
View ArticleSouth Korea’s shipbuilding boom at risk due to escalating labor disputes
The shipbuilding industry is on the brink of an unprecedented boom, driven by increased orders for liquefied natural gas (LNG) ships and the need to replace aging vessels. However, this surge in...
View ArticleChina June soy imports from Brazil rise 2%, customs data show
China’s soybean imports from Brazil rose 2.2% in June from a year earlier, data showed on Saturday, as Chinese buyers scooped up lower-priced South American beans. The world’s biggest soybean buyer...
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