Shipping

  • Damen supports call for Dutch naval sector...

    Damen Shipyards Group supports the report ‘The Navy and the Netherlands Maritime Cluster – an ecosystem under pressure’, by PRC (Policy Research Corporation). The report calls for increased investment into the Dutch naval fleet via ‘Launching Customer’ projects. 

  • Hapag-Lloyd sees higher earnings in full year 2017

    German container shipping firm Hapag-Lloyd  said it should achieve higher earnings this year, based on expectations for a moderate increase in freight rates and cost savings. “The outlook is fairly positive,” Chief Executive Rolf Habben Jansen said in a video interview on the company’s website. “Supply and demand are getting closer and closer together.”

  • Changing trade flows and China’s appetite for...

    Global crude differentials have narrowed and higher crude oil volumes are moving from west to east. S&P Global Platts trade flow tool cFlow shows that in April alone, China likely saw the arrival of at least six VLCCs and four Suez-max vessels transporting North American crude. In this video, S&P Global Platts senior analyst Yen Ling Song examines China’s appetite for US crude and how this might affect the flow of supply from Russia.

  • Gwadar Port will boost Pakistan’s, region’s...

    Pakistan’s strategic Gwadar Port, being developed by China under a $50 billion initiative, will have a unique place in Beijing’s ambitious plan to link itself to the Middle Eastern market and expand its economic influence in the region, according to a top Chinese diplomat.

  • Shipping Leaders Experience Market Tumble

    Two sector leaders experienced a poor start to the trading week despite the shipping industry seeing an improvement over the last 12 months.

    Diana Shipping, a dry bulk shipping service provider, and DryShips, a cargo vessel owner, saw their shares drop considerably during Monday trading with DryShips hitting a brand new 52-week low.

  • Norway First to Join HNS Shipping Treaty

    Norway has become the first country to become a contracting state to a key compensation treaty covering the transport of hazardous and noxious substances (HNS) by ship.

    The HNS Convention establishes the principle that the 'polluter pays' by ensuring that the shipping and HNS industries provide compensation for those who have suffered loss or damage resulting from an HNS incident.

  • Shipping lines unprepared for cyber breaches

    Most shipowners today have not conducted comprehensive risk analysis to cyber breaches leaving the global merchant fleet very exposed to online attacks. That’s the view of Ronald Spithout, the president of satellite communications giant Inmarsat Maritime.

  • OPEC Chief Sees Oil Producers Closer to Re-...

    Oil-producing nations are moving closer toward ending a global glut and re-balancing the crude market, and OPEC will decide next month whether to extend its cuts in output beyond June, the group’s Secretary-General Mohammad Barkindo said.

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US Paris exit may spur shipping emissions cooperation

US president Donald Trump’s decision to remove the US from the Paris climate accord, which aims to prevent temperatures from rising 2°C above pre-industrial levels by curbing carbon emissions, is going to have a “coordinating” effect on other countries to limit carbon emissions through the International Maritime Organization (IMO), secretary general of the International Chamber of Shipping (ICS) Peter Hinchcliffe told Argus.

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Ship Demolition Market Hits Standstill, While Shipping Needs More Scrapping To Recover

While all shipping markets are eagerly awaiting for more ship scrapping activity moving forward, in order to be able to alleviate the tonnage oversupply and stage a viable and sustainable recovery, things don’t seem to be able to move that way. In its latest weekly report, the world’s leading cash buyer of ships, GMS, said that “negotiations, fixtures and overall local activity ground to a virtual standstill this week with most end buyers focusing their attention on the budgets of Pakistan and Bangladesh, before deciding on whether to / what to offer on future tonnage”.

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