Shipowners Make ‘$300,000 Payoffs’ To Free Detained Vessels
Indonesian navy detains ships waiting near Singapore port.
Shipowner sources say costs $300,000 to have them released.
Navy denies receiving or asking for money.
Arrests come as pandemic delays cause port congestion.
More than...
Ten Ltd Announces Long-term Charters for VLCC Tankers Duo
TEN, Ltd has announced long-term charters for two VLCCs to major oil concerns, reads an official press release.
Long-term charters for carriers
The contracts, for minimum three - maximum five years, incorporate profit sharing provisions and...
Bunker Sales Volume Rise By 2.5% on Year in October
Marine fuel sales at Singapore port increased by 2.5% on year during October 2021, reports Manifold Times quoting the Maritime and Port Authority of Singapore (MPA) data.
Bunker fuel sales
In total, 4.25 million metric tonnes...
MOL To Participate in Marine Biodiversity Protection Project
Mitsui O.S.K. Lines, Ltd. will be participating in the industry-academia-government collaborative project to conserve marine biodiversity called "Ocean180," led by Professor Yasuhiro Kubota of the Biology Program, Marine and Natural Science Dept. in the...
AMSA Increases Maximum Draft Limits For Vessels
Bulk carriers, tankers and now container vessels can pass through Torres Strait with a maximum draught up to 12.5 metres, using AMSA’s under keel clearance management (UKCM) system.
With effect from 1 November 2021,...
Shipping’s Extreme Consolidation Can Prolong Supply Chain Distress
Just 16 companies control 80% of world’s liner shipping, container production and box-leasing capacity.
Three main decision-making groups steer vessel and equipment pricing and availability.
Containers used to move ocean cargo are owned...
Shanghai Salvage Bags X-Press Pearl Wreckage Removal Contract
Shanghai Salvage, a division of China's Ministry of Transport, has won the contract to remove the wreck of the sunken container ship X-Press Pearl from waters off the coast of Sri Lanka, reports the...
Shell Shifts Tax Base To UK & Ditches Dual Share Structure
Energy major Royal Dutch Shell has moved to simplify the company’s share structure as part of a push to accelerate its transition to a net-zero company.
As a result, the company will also...
Largest Container Lines Post Record Profit Jump In Q3
Container lines raked in massive profits in the third quarter.
South Korean line HMM reported net profits up a staggering 9239.2% in Q3 2021.
Intra-Asia and feeder company Regional Container Lines (RCL) reported...
Biofuel Blend for Ships Sees A New Marketing Avenue
GAC Bunker Fuels has signed a deal to market a biofuel blend for ships produced by Dubai-based Neutral Fuels.
The two firms will also seek to increase supply points for the fuel across the Middle East and Africa.
A...