HD Korea Shipbuilding Secures $179 Million Contract For Crude Carriers From African Client
HD Korea Shipbuilding & Offshore Engineering Co. has announced a significant contract win worth approximately $179.2 million to construct two crude oil carriers for an African client. This deal marks another milestone in the...
VLCCs Dip As Sentiment Wanes, Suezmax And Aframax Struggle Amid Supply Overhang
The crude tanker market softened across the board this week, as extended holidays, growing tonnage lists, and limited enquiry weighed on sentiment. VLCCs saw a notable dip on key routes, while Suezmax and Aframax...
Capesize Gains On C5, Panamax And Supramax Subdued Amid Limited Enquiry And Holiday Lull
The dry bulk market showed a mixed performance this week across the major segments. Capesize routes saw firmer fixtures on C5, supported by a tightening spot market in the Far East, while Panamax and...
Oil Prices Fall Amid OPEC+ Supply Surge And Geopolitical Uncertainty
The global oil market is currently navigating a volatile period, marked by sharp price drops, strategic production increases by OPEC+, and complex geopolitical developments. Brent crude fell by nearly 7% in just a week,...
Inbound Release Platform (IRP) Transforming Customs Handling In Belgian Seaports
Launched on April 1, 2025, the Inbound Release Platform (IRP) is a digital innovation developed by Port of Antwerp-Bruges and NxtPort in partnership with The Way Forward and Belgian Customs. This platform is helping...
TEN Expands Brazilian Offshore Presence With Delivery Of Two Shuttle Tankers
Tsakos Energy Navigation (TEN) announced a significant milestone with the delivery and naming of two new DP2 suezmax shuttle tankers, marking the beginning of its second phase of expansion in the Brazilian offshore oil...
Lessons Learned: Shocking Risk at the Dock
BSU reports of a health hazard to a dock worker due to electric shock when connecting a refrigerated container on board a container ship.
What happened?
A dock worker wanted to connect a refrigerated container...
U.S. Port Fees Reshape Dry Bulk Fleet Strategy
Port fees hurt frequent U.S. callers – Chinese-built ships face rising costs with repeated U.S. port visits.
Shift to Japanese-built vessels – Higher upfront cost, but no U.S. port fees.
Larger ships dominate...
USCG Annual Report 2024: 82 Vessels Detained During the Year
In 2024, the Coast Guard conducted 8,710 SOLAS safety exams with a total of 82 detentions.
The annual detention rate decreased from 1.22 percent to 0.94 percent.
The three-year rolling average detention ratio...
K Line’s Profit for Fiscal Year 2024 Up 199.4% To $2bln
Kawasaki Kisen Kaisha, Ltd. has announced its consolidated financial results for the fiscal year ended March 31, 2025, reporting operating revenues of ¥1,047,944 million ($7,028.0 million), a 9.4% increase from ¥957,939 million ($6,425.1 million)...