Boxship Ordering Lull Is Over

Containership owners have broken the ordering silence from December 2015 having made a major comeback to shipbuilding yards this month with orders ranging from feeders to ultra large boxships. However, the ordering flurry doesn’t seem to be over, according to Alphaliner, since additional orders are expected to be announced in the coming weeks as owners and
Complete Reading

Korea Line Corporation, part of Samra Midas Group, has signed a long-term contract of affreightment with Brazilian miner Vale, the company revealed. The 25-year-long deal will see two bulk carriers transport iron ore from Brazil to China. The deal is worth USD 608 million, according to Korea Line. The two 325,000 dwt bulkers were ordered in October 2017 from Hyundai
Complete Reading

An ill crewmember has been evacuated from a bulk carrier some 15 miles from the Port of Piriápolis, the National Navy of Uruguay (Armada Nacional Uruguay) informed. At around 7:00 P.M. on February 19, the search and rescue team of the navy received a notification from the operator of Annika N that the crew member
Complete Reading

The dry bulk shipping industry, which should be facing another year of improvement to the fundamental balance, is currently in its year of opportunity, according to BIMCO. The improvement is expected amid the slowest pace in fleet growth since 1999, as well as solid growth in demand. January saw plenty of ship deliveries coming onto
Complete Reading

More than 87 pct of the global fleet capacity is controlled by only ten out of 67 shipping lines operating fully cellular containerships, which is less than 7 pct of the total lines, according to the data from MDS Transmodal. Danish liner major Maersk Line is on the top of the list with an estimated
Complete Reading

Russia’s shipping company PAO Sovcomflot has signed time-charter agreements with oil major Shell for two dual-fuelled Aframax tankers. The tanker duo will be on time charter to Shell for up to 10 years, with a minimum commitment of five years. The vessels are part of a series of six SCF tankers currently under construction at South
Complete Reading

US container carrier Matson saw its net income in the fourth quarter of 2017 surge to USD 166.9 million from USD 20 million reported in the same period a year earlier. For the full year ended December 31, 2017, the company said that its net income increased to USD 232 million, compared to USD 81.4 million reported
Complete Reading

The Panama Canal Authority is working towards increasing the number of LNG vessels that can transit the Neopanamax locks in a day. The canal is bolstering its capacity amid the anticipated growth of natural gas exports from the United States, which is likely to increase LNG transits by 50 percent by September, according to Cheniere
Complete Reading

Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, reported a net loss of $16.6 million for the fourth quarter of 2017, compared to a net loss of $8.5 million for the same period of 2016. The loss for the fourth quarter of 2017 includes impairment losses of $8.4 million for
Complete Reading

LNG ship owner GasLog remains optimistic about the sector’s long term prospects, although it warned investors that 2018 is expected to exhibit signs of seasonality in the spot market. In its latest market outlook, GasLog said that “the fourth quarter of 2017 witnessed the start-up of Chevron’s Wheatstone LNG project in Australia, Novatek’s Yamal Train
Complete Reading

Create Account



Log In Your Account