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Baltic Index Sags as Rates Slip

AdobeStock / Credit © Lidian Neeleman

The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, extended losses for a sixth consecutive session on Friday, on weak demand across all vessel segments.The Baltic index, which reflects rates for capesize, panamax and supramax vessels, dropped 6 points, or 0.

Exxon, Trafigura Tap Lower Freight Rates

A VLCC loads crude oil in the port of Corpus Christi, TX (File image / credit Port of Corpus Christi)

U.S. crude exports to Asia, which have slumped due to record freight costs, stirred on Thursday as rates slid and the premium in Asia for Russia's ESPO Blend oil sent buyers back to U.S. grades, according to market sources.Oil shipping costs for United States Gulf Coast to Asia cooled this week from

MSC Cruises Returns to Thordon to Keep Seashore Clean

Photo: Thordon Bearings

Thordon Bearings has received an order to supply a water-lubricated propeller shaft bearing solution to Fincantieri’s Monfalcone shipyard for installation to MSC Seashore, the third Seaside Class cruiseship to which Thordon’s COMPAC system has been specified.As part of a scope of environmentally-sustainable

Tankers Switch from Clean to Dirty as Rates Surge

AdobeStock / © Kasto

A recent surge in tanker rates due to U.S. sanctions on subsidiaries of Chinese shipping company Cosco is driving some shipowners to switch from carrying clean to dirty cargoes, according to oil analytics firm Vortexa.The Aframax tanker Elandra Sound, which was carrying clean products in Q3, recently

Baltic Index at One-week Trough as Demand Sags

File Image: A recently delivered K Line Coal Carrier. CREDIT: K Line

The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell to a one-week low on Wednesday, on weaker demand for all vessel segments.The Baltic index, which reflects rates for capesize, panamax and supramax vessels, was down 1 point at 1,897, extending losses to a fourth session.

U.S. Great Lakes Ports on Pace to Beat 2018 Volumes

Photo: Chamber of Marine Commerce

U.S. Great Lakes ports are on pace to beat 2018 cargo volumes following a robust September handling road salt, cement, stone, petroleum and wind energy components.“U.S. Great Lakes ports are reporting cargo growth as they support the region’s construction activity and energy needs and help our cities prepare for the winter ahead,

Marlink, Intelsat Renew Connectivity Pact

L-R: Samer Halawi, Intelsat’s Executive Vice President, Chief Commercial Officer and Erik Ceuppens, Chief Executive Officer, Marlink Group. (Photo: Marlink)

Marlink and Intelsat have announced that the companies have agreed to a multi-year renewal and expansion of their partnership to provide broadband services to maritime vessels around the world. The multi-year agreement will deliver additional throughput to vessels via multiple layers of space-based coverage,

Boa Offshore Wins AHTS Contracts

Image:  Boa Offshore

Norwegian offshore supply vessel owner Boa Offshore is awarded contracts by The Norwegian Defense Logistic Organization (FLO) to charter two vessels for the state’s emergency response preparedness.The BOA Group offered prime assets, the BOA BISON and the BOA JARL, both excellent vessels with large capabilities, said a press release.

Baltic Index Slips on Lower Capesize Rates

AdobeStock / © Lucasz Z

The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, edged lower on Friday, weighed down by lower capesize vessel rates, while the main index posted its first weekly rise in five.The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 5 points, or 0.

Port of Kiel Cruise Numbers up 33.6%

AIDAprima in Kiel / Foto: Stephen Gergs

The visit of the cruise ship AIDAprima on Saturday, October 12, marked the end of the oceangoing cruise season in Kiel, and what a season it was with ship visits and passenger numbers up over 2018.In total the port was visited 174 times (2018: 169) by 32 different cruise ships with a total tonnage of 15 million GT (2018: 11.

NSRP Awards Hepburn and Sons Laser Peening Work

The National Shipbuilding Research Program (NSRP) has awarded Hepburn and Sons LLC with the “Onboard Ship Integration of Laser Peening System for Lasting Aluminum Repairs.” The project team is led by Hepburn and Sons LLC and includes LSP Technologies Inc., Vigor Shipyards, ABS and NSWC Carderock Division.

DSC Dredge Wins USACE Dredge Bid

Photo: DSC Dredge

DSC Dredge, LLC wins bid for a new, non-propelled, cutter suction head dredge solicited by The Marine Design Center (MDC) of the U.S. Army Corps of Engineers (USACE) earlier this month. When completed, the new cutter suction head dredge will operate out of Astara, Azerbaijan to not only maintain the

U.S. Sanctions Bite; Traders Shun 300 Tankers

AdobeStock / © Jose Gill

Nearly 300 oil tankers globally have been placed off limits as companies fear violating U.S. sanctions against Iran and Venezuela, driving freight rates to new highs, industry sources said.The move has taken roughly 3% of the global oil tanker fleet out of the market, according to industry sources and data on Refinitiv Eikon,

CNOOC Seeks Replacements for Sanctioned COSCO LNG Tankers

AdobeStock / © Kasto

China National Offshore Oil and Gas Company (CNOOC) is on the hunt for liquefied natural gas (LNG) tankers to charter, several industry sources told Reuters, looking to replace ships it had previously hired that are linked to a Chinese company sanctioned by the United States for allegedly transporting Iranian oil.

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