Shipping hits a crisis point as ballast water enforcement by the US Coast Guard clashes with shipowners struggling with equipment breakdowns.
As freight rates continue to struggle and more newbuildings come online, some owners are cutting their losses and scrapping millennial VLCCs and Aframaxes.
Year-on-year throughput for the top eight ports in China rose in February, as US President Donald Trump is due to announce USD50 billion in tariffs on imports from China.
The club will return the premium rebate in August and USD3.9 million worth of premiums.
Recent deadly collisions suffered by the US Navy have shed light on the risks of crew fatigue, but what is being done in the merchant navy to mitigate those risks?
Trading of the shipbuilder’s shares resumed after a six-month hiatus.
Japan’s NYK Line has renewed its shipping contract with Okinawa Electric Power, starting with the delivery of a post-Panamax newbuilding that will transport coal from Australia and Indonesia to Okinawa.
Polaris Shipping has been found in breach of law following inspections on one of its ore carriers. It was determined to have made unauthorised modifications to vessel structures without prior approval.
The Ministry of Oceans and Fisheries is compiling a Five-Year Plan for the country’s beleaguered shipping industry.
Lokken will take over from Jan Arve Haugan, who will be leaving the company in the spring.
After a heavy loss in 2016 and concerns at its commercial viability, independent niche carrier ZIM has returned to profitability.
Evergreen Marine will continue to optimise its fleet with ongoing renewal, while 47 new ships will join its fleet by the end of 2021.
Sungdong began voluntary restructuring in April 2010, in hope of a recovery in the shipbuilding market. However, the market never really recovered because of the downcycles in various shipping segments and the rise of Chinese shipbuilders.