STX enters Indonesian shipping
South Korea’s STX PanOcean, a shipping subsidiary of STX Business Group, has signed an agreement with Indonesia’s state-owned oil company PT Pertamina to set up a shipping joint venture. Pertamina president Karen Agustiawan and STX Group chair...
Big cat starts delivery voyage
The new Incat 112 m Wave Piercing Catamaran for LD Lines, the NORMAN ARROW, is now on its delivery voyage to the United Kingdom and France. The ferry left Hobart, Tasmania, at 18.50 local time on Saturday, May 2, at the start of an 11,726 nautica...
BDI rises again
Volatility is the key word for the trials and tribulations of the Baltic Dry Index and consequently all ship owners involved in the dry bulk trade. The BDI, a gauge that reflects the cost to haul iron ore, coal, grains and other raw materials via ...
Chinese demand drives up rates
Capesize and Pacific panamax rates are set to climb further in the next few weeks as China’s infrastructure engine continues to speed up. Brokers said the capesize sector would gain the most as China continued to ramp up its iron ore imports, wh...
China offers ray of hope for tanker sector
After weeks of pessimistic views on the future prospects of the tanker market, fuelled by actual facts, like the oversupply of vessels and lower oil demand and production, finally some signs of positiveness have remerged. As expected, these come from...
The number of bulk carriers in lay-up or idle at ports around the world fell in April, as a combination of Chinese demand for iron ore and better freight rates saw unemployed ships resume trading. However, while nearly 20 panamax and capesize vessels...
Vale takes in 25 capes
Demand from China's smaller steel mills has resulted in a Brazilian miner fixing 25 bulkers in a matter of days. South American mining giant Vale is said to have swept up 25 capesize bulkers within the space of a few days. Some 20 of the ships wer...
Zim returns six ships
Israeli container line Zim has cut capacity further by cancelling the charters of six ships owned by the controlling Ofer family. Zim parent Israel Corp, majority owned by the Ofers, told the Tel Aviv Stock Exchange that it would pay a cancellation f...
Small chemical tankers well positioned
Small may be beautiful when it comes to the beleaguered chemical tanker market, according to a new report. The sub-5,000 dwt chemical carrier fleet, employed mainly in regional European and Pacific Rim trades, is better positioned to recover from ...
CSAV may sell off Norasia
Speculation is mounting that Chilean carrier CSAV may sell off its CSAV Norasia shipping line and other assets to help reduce costs and debts. Sources in both Valparaiso, the HQ for CSAV, and in Sao Paulo, Brazil, have confirmed that assets are u...
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