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 […]
September 15, 2014 | Posted in
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The increasing use of LNG as a marine fuel is further emphasised with the latest order for Wärtsilä’s dual-fuel engine technology. A new cement carrier being built at the Scheepswerf Ferus Smit yard in the Netherlands will feature a 6-cylinder Wärtsilä 34DF main engine, making it the first bulk carrier to adopt Wärtsilä’s multi fuel […]
September 12, 2014 | Posted in
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Two new large, 180,000 CBM LNG carriers being built by the Samsung Heavy Industries (SHI) in Korea for SK Shipping and Marubeni are to be powered by 6-cylinder Wärtsilä X62DF 2-stroke dual-fuel engines. These will be the first large LNG carriers featuring Wärtsilä’s 2-stroke dual-fuel technology. The scope of supply for these ships includes two […]
September 9, 2014 | Posted in
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Floating production systems remained in demand this year as the offshore gas and oil industry have spent over USD 16 billion on newbuild contracts, Energy Maritime Associates (EMA) announces in its analysis of the floating production sector published in 2014 Q3 Report for FPSOs, Semis, TLPs, FLNGs, FSRUs, and FSOs. According to EMA, the inventory of Floating […]
September 7, 2014 | Posted in
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Paragon Shipping Inc., a global shipping transportation company specializing in dry bulk cargoes, has reported a a net loss of over USD 35 million for the six months ended June 30, 2014. The company states that even though there was an increase in the number of operated vessels on average, a weak dry bulk market […]
Front-haul rates for handysize fleet are increasing in the US Gulf as more grain stems come onto the market and the tonnage list is thin, Platts writes citing unnamed shipping sources. A 58,000 dwt vessel can now expect to achieve $20,000/d to take grain stems from the US Gulf Coast to China with September dates, […]
August 28, 2014 | Posted in
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The unstable demand for new containers has restrained the performance of container manufacturer and logistics services provider Singamas Container Holdings Limited, according to the company’s interim results for the six months ended June 30, 2014. USD 678.7 Mln consolidated revenue, 16.9% higher than in 2013 Teo Siong Seng, Chairman of Singamas, said: “Demand for new containers […]
August 22, 2014 | Posted in
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Crude oil tankers have shown incredibly positive momentum going into Q3. Earnings surpassed the expected ceiling at USD 20,000, to reach USD 44,058 per day briefly in mid-July for Suezmax tankers, according to BIMCO’s latest market analysis report. A stronger freight market is often followed by a stronger second-hand market. Data cleaned for large en bloc […]
August 18, 2014 | Posted in
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Scorpio Group, Monaco-based owner of tankers and bulk carriers, has secured charter agreements for its three 19,200 teu containerships to be built by Samsung Heavy Industries, according to sources close to the matter. The newbuilds, to be delivered in 2016, are said to have been hired by Mediterranean Shipping Co on a 15-year bareboat charter. […]
August 13, 2014 | Posted in
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Navig8 has turned to Norway’s over-the-counter (OTC) market to bankroll a new order of four chemical tanker newbuildings at STX Offshore & Shipbuilding. The company managed to raise USD 110 million to support the order, but would not comment on the equity raise source, stating that it is a ”private placement”. However, rumour has it […]
August 12, 2014 | Posted in
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