Category archives for: Top Stories

Slower Industrial Activity in China Bad News for Shipping

Slower Industrial Activity in China Bad News for Shipping

The demand for dry bulk shipping and container shipping in China is bound to change according to the slowdown in Chinese industrial production growth. The downturn adds to the existing concerns that China is going through challenging times, as Beijing aims for a soft landing and a transition of the economy, the Baltic and International […]

Knutsen Charters Out Newbuildings

Knutsen Charters Out Newbuildings

On September 12, 2014, Knutsen NYK Offshore Tankers entered into new long-term charters with a subsidiary of BG Group plc. to provide shuttle tanker services in Brazil. The contract with BG will be serviced by two Suezmax-size DP2 shuttle tanker newbuildings to be constructed by Hyundai Heavy Industries (HHI) in South Korea. The contract for […]

Fewer Yards Delivering Ships on Global Scale

Fewer Yards Delivering Ships on Global Scale

The global dowturn in contracting activity has seen various fluctuations in the newbuilding tonnage delivered together with variations in the number of yards delivering ships (1,000 GT and above), according to the latest report on shipbuilding issued by London-based Clarksons. “In 2005, 334 yards delivered almost 1,600 ships of 72.2m dwt. This rose to 576 yards […]

IMO Finalizes LNG Use Rules

IMO Finalizes LNG Use Rules

United Nations’ International Maritime Organization (IMO) has finalized draft consolidated, internationally binding regulations on the use of liquefied natural gas. The regulations were finalized at the annual session of the IMO Sub-Committee on the Carriage of Cargoes and Containers (CCC 1), where the member States agreed on the contents of the new international code. The […]

Cotonou Port Authorities Issue Anti-Ebola Measures

Cotonou Port Authorities Issue Anti-Ebola Measures

Following the outbreak of the Ebola Virus in West Africa, Cotonou port authorities have taken several preventive measures to fight the spread of the virus. For all vessels calling Cotonou port, Benin the agent is required to send to the Harbor Master office a port of call list mentioning the last 10 ports of calls, […]

Drewry: Tanker Market to Remain Volatile

Drewry: Tanker Market to Remain Volatile

The Drewry All Earnings Index, which covers the main bulk shipping markets, fell 20% in August and stood at 152, according to the Shipping Insight report published by shipping consultancy Drewry. The index was held back by weaker tanker and LPG charter rates, but overall earnings would have fallen further were it not for some […]

MAIB: Inadequate Use of ECDIS Causing More Accidents

MAIB: Inadequate Use of ECDIS Causing More Accidents

The  grounding of the chemical tanker Ovit on the Varne Bank in the Dover Strait on 18 September 2013 was caused by poor use of electronic chart display and information system (ECDIS), according to a report issued by the UK’s Marine Accident Investigation Branch (MAIB). As explained by the report, Ovit’s primary means of navigation was ECDIS and […]

USDOT Grants USD 74 Million to Maritime Projects

USDOT Grants USD 74 Million to Maritime Projects

U.S. Department of Transportation (USDOT) Secretary Anthony Foxx has disclosed  that seven grants, totalling little over USD 74 million or about 13 percent of total Transportation Investment Generating Economic Recovery (TIGER) grant funding, are going to projects that USDOT classifies as “maritime.” Another USD 54,469,652 comprising five awards, which is equal to about 9 percent of the total funding, […]

Steel Cut for Viking Sea

Steel Cut for Viking Sea

Italian shipbuilder Fincantieri has held the steel-cutting ceremony for Viking Sea at its Marghera shipyard. Viking Sea is the second ship in order of acquisition that Fincantieri is building for Viking Ocean Cruises. Fincantieri is also building Viking Star, with delivery scheduled in Marghera in spring 2015, and Viking Sky, which will be delivered in Ancona in […]

Three Confirmed Dead after Philippine Ferry Sinks

Three Confirmed Dead after Philippine Ferry Sinks

Over one hundred people have been rescued from a ferry that listed and sank late Saturday having been caught up in rough weather in the central Philippines, according to the country’s Coast Guard. Rescuers recovered at least three bodies from M/V Maharlika II, Provincial Disaster Risk Reduction Management Council (PDRRMC) officials said on Sunday. Search and rescue efforts […]

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