The drop in demolition prices has led to a stalemate in the market as shipowners are holding out in search for the USD400 per ldt mark, pointing to more evidence on the weakening steel market in the Indian subcontinent.
I once asked the CEO of a major classification society what he understood by the word ‘Smart’, which was the buzz phrase
An explosion on the dry bulk carrier Tamar while it crossed the Atlantic has killed two and injured three, the US Coast Guard reported on 25 April.
According to the Cyprus Shipping Chamber (CSC) the hope is that the new position will be ratified before the next parliamentary elections in February 2018 so that all the necessary arrangements are in place for the new minister after the elections.
The extension of the bareboat charter is a welcome development for FSL Trust, which has grappled with the recent loss of senior management members and concerns over its financial health.
A high pace of demolition sales has helped to increase demand and the outlook remains encouraging.
Dry bulk shipping continues to puzzle its way through the paradox that improving market sentiment can be bad for business.
Debt-laden offshore oilfield service group Ezra Holdings, which files for US bankruptcy last month, has failed to make interest payment due on 24 April as the company is not permitted to make payments to unsecured creditors pursuant to the Chapter 11 filing.
Singapore, Denmark, and Norway are co-operating to promote the use of electronic shipping certificates, aimed at encouraging digitalisation for greater efficiencies across the industry.
SM Line Corporation, which has taken over the trans-Pacific operations of now defunct Hanjin Shipping, orders eco-friendly containers from Chinese container manufacturer CIMC as the company aims to stabilize its business.