News

Asian container-shipping sector faces headwinds amid weak pricing power, potential excess supply

Asian container-shipping sector faces headwinds amid weak pricing power, potential excess supply

As latest statistics released from the major economies suggest slowdown in global economy ahead, most research houses have sounded cautious note on Asian

Read More
Members of House Subcommittee on Coast Guard and Maritime Transportation Express Strong Support for Jones Act

Members of House Subcommittee on Coast Guard and Maritime Transportation Express Strong Support for Jones Act

Members of the House Subcommittee on Coast Guard and Maritime Transportation said the Jones Act is critical to the national, economic, and homeland security

Read More
More businesses diversifying as shipping industry suffers

More businesses diversifying as shipping industry suffers

A key measure of commodity shipping costs - the Baltic Dry Index - has barely recovered from its plunge during the 2008 crisis. That meant shipping lines that carry raw materials

Read More
Kingdom’s oil output hike pushes up tanker demand

Kingdom’s oil output hike pushes up tanker demand

The number of crude oil tankers booked from the Middle East has surged 15 percent to a multi-year high this month due to an increase in Saudi Arabian exports, shipbrokers said.

Read More
GL Exchange Forum 'Towards a Cleaner Maritime Industry'

GL Exchange Forum 'Towards a Cleaner Maritime Industry'

In a world increasingly dominated by the need to reduce environmental impacts, what role does shipping have to play? Technological solutions exist, but which will prove

Read More
Lloyd’s Reviewing Assertion That Shipping Ransoms May Finance Terror Group

Lloyd’s Reviewing Assertion That Shipping Ransoms May Finance Terror Group

Underwriters at Lloyd’s of London, the world’s oldest insurance market, are reviewing the assertion of a U.S. lawmaker that ransoms paid to Somali pirates may

Read More
Morgan Stanley Hires Cheapest Ship in 31 Months as Rents Plunge

Morgan Stanley Hires Cheapest Ship in 31 Months as Rents Plunge

Morgan Stanley, the U.S. bank with commodity assets of about $8 billion, booked a capesize ship at what may be the lowest rent in 31 months as a glut of vessels weighed on transportation costs for raw materials.The bank hired the Anangel Explorer on

Read More
Total Sees Trend Emerging of Rising Global Costs on Oil Prices

Total Sees Trend Emerging of Rising Global Costs on Oil Prices

Total SA (FP), Europe’s third-biggest oil company, said the costs of developing energy projects are being dragged higher by oil prices.

Read More
Barclays: Possibility of an increased crude oil supply gap in Q3

Barclays: Possibility of an increased crude oil supply gap in Q3

In the shorter term, oil fundamentals remain in tightening mode, with sharp reductions in the prospects for non-OPEC supply and resilient global demand indicating the likelihood of an increased supply gap in Q3 in a world with a declining inventory cover and spare capacity, said Barclays in a report.

Read More
Arab spring likely to leave oil firms unscathed

Arab spring likely to leave oil firms unscathed

Western oil firms are unlikely to face widespread asset seizures or contract revisions as a result of Arab uprisings, thanks to deft diplomacy, legal protections and efforts to depict themselves as partners of the local citizenry

Read More
USC and STX ink agreement to form new shipbuilding JV

USC and STX ink agreement to form new shipbuilding JV

Russian United Shipbuilding Corporation (USC) and South Korean STX Offshore & Shipbuilding yesterday signed an agreement to establish a joint venture “New Admiralty Shipyards”

Read More
Croatia: Chinese Investors to Finance USD 90 Million in Rijeka’s 3.Maj Shipyard

Croatia: Chinese Investors to Finance USD 90 Million in Rijeka’s 3.Maj Shipyard

A delegation of Chinese investors have expressed interest in acquiring Rijeka’s 3.Maj shipyard, planning to invest some 63.8 million Euro. Although aware

Read More
Oil Producer Deadlock Leaves Saudis Calling Shots on $100 Crude

Oil Producer Deadlock Leaves Saudis Calling Shots on $100 Crude

More than a week after Saudi Arabia failed to persuade its fellow OPEC members to increase oil output, analysts and investors are still trying to sort out the meaning of the fracas.

Read More
Gas deal elusive as Hu visits Russia

Gas deal elusive as Hu visits Russia

MOSCOW - Chinese President Hu Jintao and President Dmitry Medvedev on Thursday talked up a deal to pump Russian gas to China for the next three decades but failed to clinch agreement on a final contract.

Read More
Hanjin Suspends Asia-Europe Loop, Orders Five Ships

Hanjin Suspends Asia-Europe Loop, Orders Five Ships

Even as it announced plans to order five big new containerships, Hanjin Shipping said it will suspend its Asia-Europe NE5 service in early July.The carrier operates the service in conjunction with its partners in the Green Alliance, formerly the CKYH alliance, between Cosco, K Line, and Yang Ming

Read More
Baltic index softer, panamax pressure grows

Baltic index softer, panamax pressure grows

The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, inched lower on Friday although further iron ore business provided support to the larger capesize market.

Read More
Nigerian, Korean firms to build $250million FPSO platform

Nigerian, Korean firms to build $250million FPSO platform

NIGERIAN may have moved closer to the realization of the ideals of the Local Content policy with the commencement of partnership between an indigenous Oil and Gas logistics provider,

Read More
Indonesia Plans Major LNG Price Reviews to Boost Revenue

Indonesia Plans Major LNG Price Reviews to Boost Revenue

The government plans to hold talks with natural gas buyers and producers to review the terms of their sales contracts as it tries to boost gas revenue, an Energy Ministry official said.

Read More
Korea Vice Minister: Hard To Ask Refiners To Maintain Lowered Oil Prices

Korea Vice Minister: Hard To Ask Refiners To Maintain Lowered Oil Prices

The South Korean government won't be able to ask domestic oil refiners to maintain their lowered retail oil prices once their "self- imposed" price cuts end, a senior official

Read More
Watchkeeper: Plenty to think about

Watchkeeper: Plenty to think about

BIMCO General Meetings have a reputation for being rather different to those in the run of the mill conference circuit, and that in Vancouver last week was no exception. They make their delegates think – about big pictures – about the important background trends

Read More

We use cookies to improve your experience. By continuing to use our site, you accept our Cookies, Privacy Policy,Terms and Conditions. Close X