Shipping

  • Tanker Market on Stable Mode During November

    In November, tanker spot freight rates for dirty vessels mostly maintained the gains achieved in the previous month, as seasonal tonnage demand strengthened. Nevertheless, dirty spot freight rates showed a decline of WS8 points on average from the previous month. 

  • Tanker charters: Indian Ship owners to seek...

    Indian ship owners will lobby the Indian Oil Corporation and Bharat Petroleum Corporation seeking relaxation in the 10-year age limit stipulated by the State-run oil refiners on hiring oil super tankers and suezmax carriers for as much as five years, in the first such long-term contract to support local carriers.

  • Top three shipbuilders expect wretched 2018

    Seul - While the global shipbuilding industry is showing signs of recovery,Korea’s three big shipbuilders are still in a rut. Next year’s sales will be lower than this year’s. Samsung Heavy Industries announced Wednesday it would increase ITS capital by issuing stock worth 1.5 trillion won ($1.37 billion) by next May

  • ABS Executive Lays out Vision for Future of...

    ABS, a leading provider of classification services to the global marine and offshore industries, participated in the 2017 Marintec China conference in Shanghai, China, where ABS Executive Vice President for Global Marine Dr. Kirsi Tikka chaired a panel session on the marine industry’s journey to autonomy and the collective benefits realized along the way.

  • BIMCO and FONASBA launch new general agency...

    BIMCO, the world’s largest international shipowners’ association, and FONASBA, the worldwide organisation representing shipbrokers and ship agents, have once again joined forces to create and launch a new general agency agreement for port agents, shipowners and ship operators contracting port agency services.

  • Does Bitcoin have a future in shipping?

    Google now receives more search requests for Bitcoin than for Kim Kardashian, Beyoncé and Taylor Swift combined. This week, a shipping company announced that it is working on a deal that will be paid in Bitcoin, which is believed to be an industry first. But does Bitcoin have a future in shipping?

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Saudi Aramco launches ship manufacturing venture

Saudi Aramco launched a joint venture in marine international industries with Lamprell plc, the National Shipping Company of Saudi Arabia (Bahri), and Hyundai Heavy Industries Co. Ltd. to establish, develop and operate a world-class maritime yard.

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More VLCCs to be sold for scrap

Capesize bulkers witnessed an extended lease of life during 2017, as the recovery of the dry bulk market gave little incentive to their owners, to scrap them. The same can’t be said for the tanker counterparts, with what looks to be yet another challenging year in 2018, seemingly setting the scene towards more VLCC scrappings.

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A single market for shipping – time to make it happen

The single market is one of the most celebrated successes of the EU. It is a central element of the EU growth agenda. It is, however, clear that the single market remains incomplete and dysfunctional in some sectors. This is particularly true for shipping.

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