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The cost of insuring a ship through the Red Sea has more than doubled since the start of September and some underwriters are pausing cover as the risk of attack from Yemen's Houthis on commercial vessels increases, industry sources said.The…
https://www.marinelink.com/news/red-sea-insurance-costs-skyrocket-amid-517244
https://www.marinelink.com/news/red-sea-insurance-costs-skyrocket-amid-517244The shipping unit of Indonesia's state energy firm Pertamina plans to double its fleet of 320 tankers in the next 10 years, the unit's CEO Yoki Firnandi told the Gastech conference in Houston on Thursday.The expansion, aimed at reducing the average age of the company's fleet…
https://www.marinelink.com/news/pertaminas-shipping-unit-double-tanker-517251
https://www.marinelink.com/news/pertaminas-shipping-unit-double-tanker-517251A strong current caused a bulk carrier to break free from its moorings at the Convent Marine Terminal dock in Convent, La., on March 27, 2023, the National Transportation Safety Board said Thursday.The Panamanian registered Sirocco was loading…
https://www.marinelink.com/news/strong-current-pulled-bulk-carrier-517252
https://www.marinelink.com/news/strong-current-pulled-bulk-carrier-517252A marine services company was cited for 15 serious violations and fined $164,000 for exposing workers to fire and asphyxiation hazards while making repairs to a Canadian-registered bulk carrier moored at the Port of Ashtabula, the Occupational…
https://www.marinelink.com/news/osha-fines-marine-services-firm-multiple-517253
https://www.marinelink.com/news/osha-fines-marine-services-firm-multiple-517253Prices of iron ore futures gained ground on Thursday, as prospects of fresh Chinese monetary stimulus and lower inventories overshadowed concerns of the top consumer’s weakening domestic demand. The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 1.69% higher at 693.0 yuan ($98.10) a metric ton. The benchmark October ...
https://www.hellenicshippingnews.com/iron-ore-climbs-on-china-stimulus-hopes-softer-stockpiles/
https://www.hellenicshippingnews.com/iron-ore-climbs-on-china-stimulus-hopes-softer-stockpiles/Huge grains ships loading up with soy and corn at Argentina’s major inland river ports around Rosario are taking on less cargo as water levels drop to near record lows due to a major drought upstream in Brazil, pushing up costs and transport times. The Parana River, which carries almost 80% of Argentina’s grains and ...
https://www.hellenicshippingnews.com/argentina-grains-ships-load-less-cargo-as-river-levels-hit-near-record-lows/The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Thursday as rates across vessel segments gained. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 86 points, or 4.6%, to 1,976. The capesize index rose 229 points, or 7.6%, to ...
https://www.hellenicshippingnews.com/baltic-index-rises-as-rates-climb-across-vessel-segments-2/
https://www.hellenicshippingnews.com/baltic-index-rises-as-rates-climb-across-vessel-segments-2/China’s import and export cargo demand could offer mixed prospects in the coming months. In its latest weekly report, shipbroker Xclusiv said that “China’s exports surged in August at the fastest pace in nearly 18 months. This significant growth, up 8.7% in dollar terms, suggests that manufacturers are rushing to fulfil orders before tariffs imposed ...
https://www.hellenicshippingnews.com/dry-bulk-market-mixed-signals-for-future-cargo-demand-from-china/A consortium led by European investment fund manager STAR Capital and Belgian holding company Ackermans & van Haaren (AvH) has completed the acquisition of one of the world’s largest shipmanagers V. Group. The company was bought from Advent International, a private equity firm that purchased the firm in late 2016 from OMERS Private Equity. According to …
https://splash247.com/european-consortium-wraps-up-acquisition-of-v-group/
https://splash247.com/european-consortium-wraps-up-acquisition-of-v-group/American Bureau of Shipping (ABS) has issued approvals in principle (AiPs) for a range of jetty-less new energy terminal concepts to move frequent, large-volume ammonia transfers away from shore, developed by SBM Offshore’s division IMODCO Terminals.IMODCO…
https://www.marinelink.com/news/imodcos-terminals-offshore-ammonia-517227
https://www.marinelink.com/news/imodcos-terminals-offshore-ammonia-517227