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Tanker Refloated after Grounding in Elbe River

The 12,500 dwt tanker Oriental Nadeshiko was refloated only hours after it ran aground in the river Elbe on January 21. Relevant authorities managed to move the Panama-flagged vessel, which wan into trouble in the morning hours, during the first refloating attempt, German Central Command for Maritime Emergencies informed. Prior to the refloating attempt, the [...]

By | 2019-01-23T05:54:55+00:00 January 23rd, 2019|News|0 Comments

Port of Newcastle Becomes Part of EcoPorts Network

Port of Newcastle has become the first port in Australia or New Zealand to commit to meeting global environmental and sustainability standards as set by EcoPorts. The port was granted membership of the International EcoPorts network, having completed assessments to benchmark its environmental and sustainability practices against 120 major ports across Europe, Asia, North America [...]

By | 2019-01-23T05:52:27+00:00 January 23rd, 2019|News|0 Comments

Vietnam Welcomes Its Largest Boxship to Date

Earlier this month, Cai Mep International Terminal (CMIT) welcomed the largest container vessel to ever call a Vietnamese port. The 16,022 TEU CMA CGM Marco Polo called at the terminal on January 11, 2019, as part of its FAL 3 Asia to Europe Trade Service. Featuring a length of 396 meters and a width of [...]

By | 2019-01-23T05:49:04+00:00 January 23rd, 2019|News|0 Comments

Newbuilding and S&P Markets Yet to Pick Up in 2019

As is usually the case so early in the year, ship owners are still reluctant to commit funds to newbuildings or S&P deals, unless some opportunity arises, or there’s a very specific and urgent need to do business. In its latest weekly report, shipbroker Allied Shipbroking said that in the newbuilding market, “activity this week [...]

By | 2019-01-23T05:45:58+00:00 January 23rd, 2019|News|0 Comments

Dangerous Dry Bulk Trade Forecasts

Very bullish dry bulk forecasts have continued to be released this year — but we continue to urge great caution. Catching our attention, in particular, recently have been some forecasts stating that dry bulk trade is likely to grow by anywhere from 4% to 4.5% this year. A breakdown of trade by cargo type has [...]

By | 2019-01-23T05:41:46+00:00 January 23rd, 2019|News|0 Comments

Dualog takes cyber security to a higher level by launching ‘dualog protect’

Tromso-based Dualog has taken shipboard cyber security to a higher level by launching a new service that promises to totally protect vessels and their onboard IT systems even before an attack occurs. Dualog Protect is being heralded as the first line of defence in a robust approach to cyber security onboard ship, where malware and [...]

By | 2019-01-23T05:40:05+00:00 January 23rd, 2019|News|0 Comments

New sulphur fuel laws look set to shake up the shipping industry

Each year, billions of tonnes of goods traverse oceans on ships the size of warehouses. With the spread of globalisation, the volume of goods traded by sea has grown by 300 percent since the 1970s, according to the United Nations Conference on Trade and Development (UNCTAD). Today, ships carry more than 80 percent of all [...]

By | 2019-01-23T05:36:55+00:00 January 23rd, 2019|News|0 Comments

As IMO 2020 lures newcomers to bunker sector, profit is far from guaranteed

A pharmaceutical company’s ill-fated attempt to focus on trading bunker fuel derivatives highlights the unpredictability that IMO 2020 has injected into oil markets. Having sold off its opioids business the previous year, in early 2018, Norway’s Vistin Pharma announced it would set up a new oil trading unit focusing on profiting from the International Maritime [...]

By | 2019-01-23T05:34:03+00:00 January 23rd, 2019|News|0 Comments

Eagle Bulk Shipping Inc. Receives Commitment for a New Credit Facility Totaling USD 208 Million

Eagle Bulk Shipping Inc. announced that Eagle Bulk Ultraco LLC, a wholly-owned subsidiary of the Company, has received a loan commitment from a consortium of banks for a new five year senior secured facility (the “Facility”) totaling approximately USD 208 million, bearing an interest rate of LIBOR plus 2.50% and maturing in 2024. The Facility [...]

By | 2019-01-23T05:30:16+00:00 January 23rd, 2019|News|0 Comments

Essar Shipping Ltd. – Announcement under Regulation 30 (LODR)-Resignation of Chief Financial Officer (CFO)

Pursuant to Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, this is to inform that Mr. Sandeep Akolkar resigned as Chief Financial Officer of the Company with immediate effect. His relieving is under process and shall be subject to the approval of Board of Directors of the Company. This is for your [...]

By | 2019-01-23T05:25:53+00:00 January 23rd, 2019|News|0 Comments

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