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Chinese bulker owner and operator Jinhui Shipping and Transportation has sealed its third supramax sale this year. The Oslo- and Hong Kong-listed company is offloading the 2009-built 65,900 dwt Jin Gang to Singapore’s Huwell Shipping for $10.8m. The Shanghai Shipyard-built unit should change hands by August 15, the operator of 31 vessels said in a …
https://splash247.com/jinhui-agrees-third-supramax-sale/
https://splash247.com/jinhui-agrees-third-supramax-sale/Japanese shipowner Mitsui OSK Lines (MOL) is partnering up with India’s Oil and Natural Gas Corporation (ONGC) to build and operate very large ethane carriers (VLECs). According to the expression of interest, the deal, structured as a joint ventur,e will see the contracting of two newbuild VLECs that will transport imported ethane to ONGC Petro …
https://splash247.com/mol-links-up-with-ongc-for-vlec-newbuilds/
https://splash247.com/mol-links-up-with-ongc-for-vlec-newbuilds/Oslo-listed Stainless Tankers has inked a deal to sell its 2008-built J19 stainless steel chemical tanker Gwen for $16.16m, marking the latest step in the company’s ongoing fleet optimisation programme. The Norway-based owner, backed by UK shipping fund Tufton, said the vessel is scheduled to be delivered to its new owner by the end of …
https://splash247.com/stainless-tankers-pledges-shareholder-return-after-third-sale/
https://splash247.com/stainless-tankers-pledges-shareholder-return-after-third-sale/Denmark’s Maersk Tankers is set to establish in-house technical management operations as it prepares to take delivery of very large ammonia carriers (VLACs) and seeks tighter alignment between technical expertise and commercial ambitions. The move marks a pivot from the company’s 2021 decision to hand over technical management of its tanker fleet to Synergy Group. …
https://splash247.com/maersk-tankers-brings-technical-ops-in-house-as-ammonia-fleet-takes-shape/
https://splash247.com/maersk-tankers-brings-technical-ops-in-house-as-ammonia-fleet-takes-shape/P&O Maritime Logistics, a unit of ports and logistics heavyweight DP World, has acquired a controlling stake in NovaAlgoma Cement Carriers (NACC), the leading operator of pneumatic cement carriers, in a move that positions the Dubai-based group deeper into infrastructure-driven dry bulk trades. The transaction, with an undisclosed value and still subject to customary regulatory …
https://splash247.com/dp-world-to-take-helm-of-novaalgoma-cement-carriers/
https://splash247.com/dp-world-to-take-helm-of-novaalgoma-cement-carriers/The crew of a ship set on fire in an attack in the Red Sea on Sunday abandoned the vessel and were rescued as it took on water, a British maritime agency said, in an assault that private security firm Ambrey said resembles that of the Houthi militant group.The attack…
https://www.marinelink.com/news/crew-rescued-attack-near-yemen-527645
https://www.marinelink.com/news/crew-rescued-attack-near-yemen-527645Japan will export used navy destroyers to the Philippines to strengthen its deterrence against China's maritime expansion, the Yomiuri newspaper reported on Sunday, as the two U.S. allies increase cooperation to counter Beijing.The export plan…
https://www.marinelink.com/news/japan-export-used-destroyers-philippines-527646
https://www.marinelink.com/news/japan-export-used-destroyers-philippines-527646Capesize The Capesize market showed signs of stabilisation this week following a period of softness, with improvements in the Pacific basin and a more balanced Atlantic. In the Pacific, C5 rates gradually firmed, rising from $6.90 early in the week to $7.44 by week’s end. All three major miners were active and fixing volumes increased, ...
https://www.hellenicshippingnews.com/dry-bulk-market-capesize-segment-stabilized-last-week/
https://www.hellenicshippingnews.com/dry-bulk-market-capesize-segment-stabilized-last-week/Prices of iron ore futures extended gains on Friday, notching a second consecutive weekly rise, driven by improved market sentiment after officials in top consumer China called to curb aggressive price competition. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 0.62% higher at 732.5 yuan ($102.25) a metric ...
https://www.hellenicshippingnews.com/iron-ore-logs-second-weekly-gain-as-china-signals-crackdown-on-price-wars/The Baltic Exchange’s main sea freight index, which monitors rates for vessels transporting dry bulk commodities, edged up on Friday but registered its third consecutive weekly loss, pressured by weak capesize rates. The main index was up 2 points, or 0.1%, at 1,436, snapping a seven-day losing streak. However, the index was down 5.6% on ...
https://www.hellenicshippingnews.com/baltic-index-loses-ground-for-third-straight-week-on-lower-capesize-demand/