Category archives: Shipping Market

Transpacific Lines keep up the pressure for added revenue

Container shipping lines operating from Asia to the U.S. are continuing their efforts to restore baseline freight rates for holiday shipments and the 2014 contract negotiating season beyond.

Member ...

EU Commission blows opportunity to link State aid to shipping jobs for community seafarers

Following a recent decision by the Commission, the European Transport Workers’ Federation (ETF) slammed the European Union for missing a golden opportunity to link state aid for the shipping industry ...

G6 Alliance implements Asia-Europe Winter Program

Members of the G6 Alliance have announced the withdrawal of eight Asia-Europe sailings from late October 2013 to February 2014, in response to expected low demand over the winter season ...

Bahri announces the sale of its fourth and last general cargo vessels Saudi Tabuk

The National Shipping Company of Saudi Arabia Bahri announces that in connection with the fleet replacement program for the general cargo the Company has sold on 9 October 2013 its ...

Ocean carriers are doing some things right to secure profit

Drewry Maritime’s latest annual Container Market Annual Review and Forecast 2013/14 highlights that while there is a good deal of excessive market behaviour resulting in weak freight rates ...

Drewry: Sailing cancellations to increase due to P3 wait

More sailing cancellations are on the way as the P3 alliance has yet to spell out its intentions in any detail, and competitors will be loath to risk losing market ...

Focus on cash control impacts ship operating costs

International accountant and shipping consultant Moore Stephens says total annual operating costs in the shipping industry fell by an average 1.8 per cent in 2012. This compares with the ...

Rickmers Group and Apollo to invest in container shipping

Rickmers Group and funds affiliated with Apollo Global Management, LLC have entered into a joint venture to invest in container ships, initially focused on secondary market vessels. 

The joint venture ...

Shipping confidence holds firm

Overall confidence levels in the shipping industry held firm over the three-month period to August 2013, maintaining the highest level reached since November 2010, according to the latest Shipping Confidence ...

Carriers fuel the bunker surcharge fire

The way carriers calculate bunker surcharges is often disputed by shippers, and no more so than now.

Bunker surcharges should, proportionately, have been reducing faster than fuel prices because of ...

UASC challenges top players, says Drewry

Although the top 12 ocean carriers in the world today look set to continue dominating the market up to at least the end of 2014, UASC’s recent newbuild order ...

STX OSV takeover boosts Fincantieri

On 23 January, Fincantieri completed the acquisition of a controlling interest (50.75%) in STX OSV (now renamed Vard), and raised its stake to 55.63% after the completion of ...

Suez Canal closure risk again in the spotlight

Recent political unrest in Egypt has again raised the spectre of the Suez Canal closing. However, if it were to be suddenly closed tomorrow, it would not be a train ...

d'Amico sales m/t High Spirit and m/t High Challenge

d’Amico International Shipping S.A. announces  that its operating subsidiary d’Amico Tankers Limited (Ireland), agreed the sale of the MR product tanker vessels M/T High Spirit and ...

Drewry: Slow steaming to escalate

The freight rate war currently taking place between Asia and Europe, and between Asia and the US, and the further addition of new ships, will force carriers to resort to ...

NYK establishes consortium for Cameron LNG Project

Nippon Yusen Kabushiki Kaisha (NYK) has established a consortium company, Japan LNG Investment (JLI), in the U.S. state of Louisiana together with the Mitsubishi Corporation (MC) to possibly participate ...

Maersk Q1-2013 results announced

“We have improved our performance in the past year and we are satisfied with our result for the first quarter. Maersk Line is much more competitive and has gained strength ...

Hapag-Lloyd with improved first quarter

Although its operating environment has remained challenging, Hapag-Lloyd finished the first quarter of this year in a much better position than last year. As expected, the Company posted a loss ...

BOURBON expands its range of services in the Caribbean

A flourishing fleet, a wide variety of assignments and the arrival of next generation personnel transport vessels: BOURBON continues to expand with success in the promising Antilles-Guyana area.

In April ...

Rickmers-Linie adds tenth vessel to R-T-W Pearl String

Rickmers-Linie has added a tenth vessel on its eastbound Round-the-World Pearl String Service as part of its continuing programme of investment in its services. The global breakbulk, heavylift and project ...

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