Weekly Bulk Report – Week 25, 2019
The Baltic Briefing has released a report about the dry bulk market of the 25th week of shipping activities of this year. The report dated 21st June highlights the plight of the dry bulk...
Sembcorp Marine Secures $1.5 Billion Loan To Position for Offshore Recovery
Sembcorp Industries has provided Singapore’s offshore rig builder Sembcorp Marine with a five-year subordinated loan facility of $1.5 billion.
The move is expected to strengthen Sembcorp Marine’s financial position amidst the current downturn...
Future Mayport Based Ship Involved in a Collision in Canada
According to an article published in First Coast News, it has been learned that the future USS Billings, a littoral combat ship planning to call Mayport home in August, collided with a cargo vessel.
What...
Refinery Fire Sparks Tanker Rally
A fire that broke in one of the oldest and largest oil refineries serving the US east coast has affected product tanker trades.
The fire has reduced the need for crude oil being shipped...
Panama Canal Increases Passenger Ship Tariffs
In a major development, the Panama Canal Authority's board of directors has announced that they have approved a proposal to modify the Panama Canal tolls system and the regulation for the measurement of vessels,...
KSS Expands VLGC Fleet With a $148m New-building Order
KSS Line is expanding its fleet with a newbuilding order for up to two VGLCs at HHI.
Deal is for one 86,000-cbm standard VLFC ship with scrubber and an option for a second...
BHP Fears an Iron Ore Freight Increase by $5/t Ahead of IMO 2020
UK-Australian resources firm BHP estimates that the new International Maritime Organization (IMO) rules, which will lower the sulphur limit in marine fuels to 0.5pc, will add $2-3/t for shipping iron ore from Western Australia...
Vitol Building Malaysian Oil Refinery To Meet Compliant Fuel Availability Issues
In a major development,Vitol, the world’s largest independent oil trader, has announced that they have started building a small oil refinery at their storage terminal in Malaysia which will provide low-sulphur fuel for ships,...
MEPC 74: Shipowners Say Much Work Done, Still More To Do
As the 74th meeting of IMO’s Marine Environment Protection Committee (MEPC 74) closed last month, delegates began to think about the implications of what they had decided during a busy week of debate and...
Maersk’s First Phase Share Buy-Back Program
According to a press release published on Global Newswire website, on 3 June 2019, A.P. Møller - Mærsk A/S (the Company) announced the first phase of a share buy-back program.
Compliant with EU commission regulation
The...