Ship Operating Costs Drop amid Weak Market Conditions

Image Courtesy: MOL

The cost of operating cargo ships has fallen for two successive years amid weak freight rates, declining asset ...

read more →

Bulkers Account for Lion's Share of Scrapped Tonnage in 2016

Image Courtesy: NGO Shipbreaking Platform

Strong demolition has been a prominent feature of the shipping industry this year, as challenging market conditions ...

read more →

Drewry: Idle Containership Fleet Surges amid Overcapacity

Image Courtesy: BSM

The number of idle containerships increased from 238 vessels with a combined capacity of about 900,000 TEU in ...

read more →

Pirates Take Three Russian Crew from Merchant Ship

Image Courtesy: Thinkstock image

Three crewmembers, citizens of Russia, were taken from the merchant vessel Saronic Breeze after the ship ...

read more →

Höegh LNG Inks 20-Year FSRU Contract in Ghana

Illustration. Image Courtesy: Höegh LNG

Höegh LNG has signed a contract with Quantum Power Ghana Gas Limited to provide a floating storage and ...

read more →

IRClass Becomes RO for Three More Flag States

Vijay Arora, Joint Managing Director of IRClass. Image Courtesy: IRClass

Indian Register of Shipping (IRClass), has obtained authorisation to act as Recognised Organisation (RO) to carry ...

read more →

Rolls-Royce Axes 800 More Jobs at Marine Business Unit

Image Courtesy: Rolls-Royce

Rolls-Royce plans to lay off 800 more workers from it Marine business throughout 2016 and 2017 citing ...

read more →

Fitch Predicts More M&A Activity, Defaults in 2017

Image Courtesy: Hanjin Shipping

Muted demand growth will exacerbate overcapacity for the shipping sector in 2017, putting pressure on freight rates ...

read more →

Putting the Squeeze on Terminal Operators Could Backfire

Image Courtesy: Kalmar

Container shipping lines are in danger of putting future port investment at risk in their demands for terminal ...

read more →

EU Extends Counter-Piracy Op until 2018

Image Courtesy: EU NAVFOR Somalia

On November 25, 2016, the European Council extended Operation Atalanta’s mandate to deter, disrupt and repress acts ...

read more →

Update: Russia Identifies Merchant Ship Hijacked off Benin?

MV Saronic Breeze. Image Courtesy: MFA Russia

The merchant vessel believed to have been hijacked by pirates some 72 nautical miles off the coast of Cotonou, ...

read more →

Carbon Warriors Launch Free Ship Operational Efficiency Tool

carbon-warriors-launch-free-ship-operational-efficiency-tool

Carbon War Room, exactEarth, and University Maritime Advisory Service (UMAS) have launched BetterFleet, a ...

read more →

ABS Joins LNG Coalition

Image Courtesy: ABS

Houston-headquartered classification society ABS has joined the SEA\LNG coalition whose objective is to accelerate ...

read more →

Pirates Hijack Merchant Vessel off Cotonou?

Image Courtesy: Interpol

A merchant vessel is believed to have been hijacked by pirates some 72 nautical miles off the coast of Cotonou, ...

read more →

IMB: Pirate Dies in Attack on Tanker off Nigeria

Image Courtesy: Interpol

An unknown number of pirates armed with automatic weapons in a speed boat approached and fired at a tanker while it ...

read more →

WISTA UK: Smart Ships to Carry Cargoes within a Decade

Illustration; Image Courtesy: Wärtsilä

Smart ships are likely to be carrying cargoes within 10 years but all in the logistics chain need to adapt in order ...

read more →

VLGC Oversupply to Put More Pressure on Freight Rates

Image Courtesy: Dorian LPG

High scheduled deliveries and low demolition prospects will drive unwanted fleet growth of very large gas carriers ...

read more →

APM Terminals Chooses Builder of New Terminal in Morocco

Image Courtesy: Willemen Groep

The Netherlands-based terminal operator APM Terminals has awarded the construction of a new container terminal at ...

read more →

MSI: Major Gains in Crude Tanker Market to Be Limited

Image Courtesy: Teekay

The crude tanker market is forecast to experience a limited winter upturn, as only the Very Large Crude Carrier ...

read more →

Maersk Cotonou Attacked off Nigerian Coast

Image Courtesy: Maersk Line

The 4,496 TEU containership Maersk Cotonou was attacked by supposed criminals attempting to board the vessel off ...

read more →

Drewry: No Recovery for Asia - West Africa Container Traffic

Image Courtesy: BSM

The third quarter drop in volumes was unexpectedly severe and must have caught carriers out by surprise as Asia to ...

read more →

Dry Bulk Market Heading Into a Firm Festive Season

Image Courtesy: Diana Shipping

After a steady fall in average daily TCE spot earnings in October, November saw an inflection point for Capesizes ...

read more →

BDI Reaches New High in 2016

Image Courtesy: Pilbara Ports Authority

The Baltic Dry Index (BDI) jumped by 26 points and reached 1,257 points on November 18, marking its highest level ...

read more →

ESC, GSF to Tackle Consolidation in Container Shipping

Image Courtesy: European Shippers' Council

Representatives of exporters and importers from around the world, the European Shippers’ Council and the ...

read more →

Alphaliner: Panamax Exodus Set to Continue

Illustration; Image Courtesy: Diana Containerships

Over 100 more classic Panamaxes would need to be scrapped in the coming months to re-balance supply and demand, and ...

read more →