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Dry Bulk Market Looks Up: J. Lauritzen

Lauritzen Bulkers. Photo:  J. Lauritzen

 Both the dry bulk market and the market for small gas carriers are anticipated to benefit from the expected rise in economic activity in 2018, more so as supply growth will be rather limited in both segments, says J. Lauritzen, the Danish shipping company with worldwide operations.   For dry bulk though,

CMA CGM Plans Multi-Temperature Logistics Facility at DP World

Photo: CMA CGM

 CMA CGM, a world leader in maritime transport, is to take a long-term lease and invest in a build-to-suit, multi-temperature warehouse facility at DP World London Gateway Logistics Park.   The CMA CGM Group will occupy, through its international freight forwarding and logistics solutions subsidiary, a one hectare cold store facility within a 2.

PIL, PSA, IBM Conclude Successful Blockchain Trial on Chongqing-Singapore Route

Image:  Pacific International Lines Pte Ltd

 Singapore’s Pacific International Lines (PIL), port operator PSA International, and technology giant IBM Singapore have concluded a successful blockchain trial, having signed a memorandum of understanding in August 2017.   Following the signing of the MOU, the companies worked on a Proof Of Concept (POC) exercise,

GE Transportation to Supply Freight Locomotives to Ukraine in USD 1bln Deal

Photo: GE Transportation

 GE Transportation signed a $1 billion framework agreement in Ukraine, marking a major milestone in the country’s efforts to modernize its transportation infrastructure and strengthen its position as a key European rail hub and trade corridor.    The agreement, which is the largest ever for GE in the country,

Nordic American Tankers Signs TC with Major Oil Firms

Photo: Nordic American Tankers

 In the autumn of 2017, Nordic American Tankers (NAT) advised you of our time charter activities/contracts with oil companies such as Shell, BP, ExxonMobil and other major oil companies in the West and in the East.    The contract with ExxonMobil has expired but the company does work for them on a regular basis.

Pirates Attack Chemical Tanker off Somalia

Picture courtesy of http://www.shipspotting.com and lk.lv/en/lsc-shipmanagement/EU Navfor

Suspected Somali pirates attacked a Singaporean-flagged chemical tanker on Friday but were repelled by guards on board, the European Union's Naval force said, the first such incident in several months.   EU Navfor said in a statement the 50,000 metric tonne MT Leopard Sun was sailing from Sohar in Oman to Cape Town,

MSC Launches New Ro-Ro Service to Africa

Photo: MSC

Mediterranean Shipping Company (MSC) has launched in Le Havre its first RO-RO service now connecting HAROPA to West Africa twice a month. The new service confirms the assets of HAROPA, the leading French port system constituted by the ports of Le Havre, Rouen and Paris, for the reception of Ro-Ro shipping Lines.

Baltic Index Records Best Week in 3 Months

© Unkas Photo / Adobe Stock

The Baltic Exchange's main sea freight index hit its highest in more than three weeks and recorded its biggest weekly gain in about three months as demand improved for dry bulk commodities.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 18 points, or 1.

AP Moller-Maersk Planning Roadshow ahead of Euro Benchmark

File Image: A Maersk boxship alongside and working cargo. CREDIT: HR Wallingford

A.P. Møller - Mærsk A/S rated Baa2/BBB (on review for possible downgrade/CreditWatch negative) by Moody's/S&P, the integrated transport and logistics company, has mandated Barclays, Danske Bank, HSBC, MUFG and SG CIB as Joint Bookrunners to arrange a series of fixed income investor meetings in Europe commencing on the 28th of February 2018.

Flooding Cripples Grain Barge Shipments in U.S. Midwest

CREDIT: MVFCA

Grain barge shipping came to a near standstill in parts of the U.S. Midwest on Thursday as recent heavy rain and melting snow swelled rivers, halted barge loading and sidelined the towboats that haul farm belt crops to Gulf Coast export terminals.   The flooded waterways sent cash premiums for corn

Yang Ming Marine Offers Korea-Vietnam-Thailand Service

Image: Yang Ming Marine

 Taiwan-based ocean shipping company Yang Ming Marine Transport Corporation announcesdthat it will provide Korea-Vietnam/Thailand service (KVX) as of March 7th, 2018.    The calling port rotation of KVX service is: Incheon–Ulsan–Busan–Shekou–Ho Chi Minh–Laem Chabang–Bangkok–Laem Chabang–Ho Chi Minh–Incheon.

Diana Shipping Reports Loss for 4Q

Photo: Diana Shipping Inc.

 Greece-based Diana Shipping inc. (DSX) has reported a loss of $436.9 million in its fourth quarter. The net loss attributed to common stockholders of $438.4 million for the fourth quarter of 2017, including a $422.5 million impairment loss.   Time charter revenues were $48.9 million for the fourth quarter of 2017, compared to $28.

DP World Accuses Djibouti of Seizure of its Dorelah Port

File Image: a typical DP World terminal.

Dubai-based port operator DP World accused Djibouti of illegally seizing control of Doraleh Container Terminal on Thursday, after the Djibouti government said it was unilaterally terminating DP World's contract to run the terminal.   "The Government of Djibouti today illegally seized control of the Doraleh Container Terminal,

IMO to Ban Ships without Scrubbers from Carrying High Sulphur Fuel

© Giuseppe Elio Cammarata / Adobe Stock

The International Maritime Organization intends to ban ships that do not have equipment to strip sulphur from carrying fuel that has a sulphur content above new limits in 2020, an IMO official said on Thursday.   The ban, which still has to go through two formal approval steps, was presented at IMO compliance meetings earlier this month.

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