Vessel redeployment forces rate rises in secondary trades
Liner companies chasing the high returns on the major trade lanes are shifting tonnage from secondary services, with consultancy Xeneta warning shippers and forwarders that capacity constraints in second string services will force up rates. Hong Kong-based Linerlytica believes these increases may have already begun with consultancy reporting today that capacity injections have been seen […]
Upcoming arrival of La Niña set to impact trading patterns
Meteorologists in various nations have now concluded the world is set to be impacted by the weather phenomenon known as La Niña from as early as next month, something that will alter shipping trade patterns heading into the new year. La Niña is characterised by cooler-than-average waters and tends to have a significant effect on […]
Houthis issue chilling video of latest ship strike
The Houthi rebels have released a video of the most recent attack using an unmanned watercraft on a Liberia-flagged oil tanker Chios Lion in the Red Sea. The video shows an unmanned vessel doing damage to the tanker’s port side. They did several attacks on the vessel and another ship sailing some 100 nautical miles […]
16 feared dead as tanker capsizes off Oman
Sixteen crew are feared to have perished after a small tanker capsized off Oman on Monday. Search and rescue operations to find the 13 Indians and three Sri Lankans who were onboard the 7,056 dwt, Comoros-flagged Prestige Falcon have thus far been unsuccessful. The vessel had been headed for the Yemeni port city of Aden, […]
InterManager calls for action on accident reporting
There is a significant lag between accident occurrences onboard ships, their investigation, and the casualties report being uploaded into the Global Integrated Shipping Information System (GISIS), shipmanagement association InterManager has warned. InterManager has submitted its latest accident statistics, which span several decades, to the 10th session of the IMO’s Sub-Committee on Implementation of IMO Instruments, […]
OceanPal branches out into product tanker sector
Greek Nasdaq-listed bulker owner OceanPal is diversifying its fleet with a $27m move into the product tanker sector. The company said it had struck a deal with an entity controlled by one of its directors for the 2009 Hyundai Mipo-built MR2 Zeze Start. The deal was unanimously approved by the board, with OceanPal adding that […]
Oldendorff lets go of another post-panamax
German dry bulk powerhouse Oldendorff has let go of a ship despite softening prices as the market takes a breath. According to sales registers, the German post-panamax expert has sold six ships, with four sold in pairs since June. The Henning Oldendorff-led owner has now let go of one more, selling the 11-year-old, 96,000 dwt, Imabari-built, […]
Latvians showcase first-ever fully-functioning 5G maritime connectivity concept
Latvian mobile innovator and telco operator LMT, in collaboration with Latvian port technical services provider LVR Fleet, has conducted a successful 5G maritime connectivity concept demonstration. It showcased fully functioning 5G network connectivity from shore to ship, between ships, and between ships and drones. The demo was held in the Port of Riga and was […]
The UK has a shipping pollution problem. Is the new government ready to solve it?
Blánaid Sheeran, Opportunity Green’s policy officer, explains why the new UK government has all evidence it needs to support a wider Emissions Control Area. A recent study by the International Council on Clean Transportation (ICCT) demonstrates severe air pollution problems in UK waters, due to heavy shipping traffic and a lack of adequate regulation. And […]
A.P. Moller Holding puts money into Noble stock
Denmark’s A.P. Moller Holding has boosted its position in Noble Corporation ahead of the anticipated merger with Diamond Offshore, taking its shareholding in the offshore rig owner to just over 20%. Filings to the US Securities and Exchange Commission show A.P. Moller Holding subsidiary APMH Invest has added about 1.13m shares in multiple open market […]