Category archives: Shipping Market

Bourbon announces revenues of EUR315.1m for 1st quarter 2013

“In a favorable context for the oil & gas and related services industry, BOURBON is continuing to grow. Daily rates for vessels with contracts renewals continue trending upwards,” says Christian Lef ...

Suez Canal toll fees rise

Egypt has raised toll fees by 5% for oil tankers and petrochemical products and 2% for container ships and car carriers, said the Suez Canal Authority (SCA). In 2012, the ...

Drewry: Container Insight Weekly

Smaller container shipping lines are pulling out of the East-West trades, no longer being able to compete in the closed-shop, big ship dominated markets.

Shippers need to get used to ...

ClassNK signs authorization agreement with the government of Myanmar

Leading classification society ClassNK has announced that it has signed an agreement with the Government of Myanmar granting ClassNK authorization to carry out statutory surveys on its behalf. The signing ...

Moore Stephens says shipping should explore leasing solutions

International accountant and shipping adviser Moore Stephens says shipping companies should explore leasing opportunities as a way of adjusting their self-owned and chartered-in tonnage balance in response to the radical ...

Frontline - Resignation and appointment of Directors

The Board of Frontline Ltd. announces that Miss Cecile Fredriksen and Mr. Tony Curry have today resigned from their positions as Directors of the Company. Both Miss Fredriksen and Mr ...

CFO of TORM resigns

CFO and member of the Executive Board of TORM Roland M. Andersen has tendered his resignation. He will continue his normal duties on the Executive Board and leave the Company ...

Euronav sales Suezmax Cap Isabella

The executive committee of Euronav NV announced that the company sold the Newbuilding Suezmax Cap Isabella (2013 – 157,648 dwt) for a selling price of USD 54,000,000 and ...

Panama Canal Administrator discusses impact of expansion in Sea Asia 2013

Panama Canal Administrator Jorge L. Quijano discussed with maritime industry leaders the impact of the Expansion and the role it will play in trade between Asia and Latin America.

"We ...

Nordana orders new RoRo vessel for the Mediterranean - Americas service

Nordana  announces that the next generation of Multipurpose RoRo vessels is now taking shape, and an order has been placed with Italian yard Visentini for the delivery of the vessel ...

Drewry: Sigh of relief for Suezmax owners

Drewry’s latest Tanker Insight saw the Tanker Earnings Index jump by 69% as activity surged, lifting freight rates across all vessel segments.
Chartering activity in the dirty tanker market ...

CMA CGM launches service from Asia to South Red Sea

CMA CGM announces the launching of a new fixed day weekly service on the Asia – Red Sea route, the REX 3 service, on May 2nd, 2013.

Complementing the existing REX ...

Maersk Line to call Busan, South Korea

Maersk Line will now add Busan, South Korea, to the schedule of the Asia-Europe (AE10 service). South Korea’s Busan Port is one of the world’s leading container hubs ...

Odfjell and NCC to discontinue chemical tanker pool

After four years of co-operation Odfjell Tankers and National Chemical Carriers (NCC) have agreed, effective 1 June 2013, to dissolve their pool of 40,000 to 45,000 dwt coated ...

Bourbon sells vessels worth US$2.5 billion

BOURBON is rolling out a transformation plan for its future growth. As part of its “TRANSFORMING FOR BEYOND” project, BOURBON has decided to sell vessels worth US$2.5 billion ...

Multipurpose Shipping Market Review and Forecast 2013

The Multipurpose sector faces a difficult couple of years, but its long-term prospects are good, according to Drewry Maritime Research’s latest Annual Multipurpose Shipping Market Review and Forecast report ...

Bourbon sells vessels worth US$2.5 billion

BOURBON is rolling out a transformation plan for its future growth. As part of its “TRANSFORMING FOR BEYOND” project, BOURBON has decided to sell vessels worth US$2.5 billion ...

CSAV announces US$ 570 million investment plan

The Board of Directors of Compañía Sud Americana de Vapores S.A. (CSAV) has approved an investment plan of US$570 million consisting in the acquisition of seven new ...

OSG announces management changes

Overseas Shipholding Group, Inc., announced that it has implemented a reduction in force intended to improve operational efficiencies in connection with the Company’s restructuring efforts.

As part of the ...

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