Mark Jackson, CEO of the Baltic Exchange. Credit: IHS Markit

Latest updates from the Baltic Exchange includes a completed blind trial for its new LNG index, a joint index with Freightos, a refreshed Baltic Code, a new escrow service, as well as a data license requirement.


Finance computer screen

London Metal Exchange and Baltic Exchange, acquired in recent years by rival Asian exchanges, outline their plans to reform and find new ways of growing revenues.


Euro banknotes

HSH Portfoliomanagement AöR grappled with another loss for 2017, albeit down from the EUR505.3 million loss posted in the previous year.


The Hamburg skyline

Senior INTTRA executives declined to say how many firms or which companies will take part in the pilot saying details would be released later.


AIS data show several vessels off the Houthi-controlled Port of Hodeidah

Reports of 19 vessels have been hijacked by Houthi rebels off the coast of Yemen are false, according to two owners of the ships concerned.


The Mutriba is one of 32 vessels in the KOTC fleet. Credit: ClassNK

Kuwait Oil Tanker Company (KOTC) is continuing its fleet modernisation plan with an order of four medium-range (MR) product tankers from South Korea’s Hyundai Mipo Dockyard, at a unit cost of USD41.9 million.


Computer screen cyber attack

The time is coming when both insurers and lawyers will be more prescriptive when it comes to knowing just what owners had in place should they suffer an attack.


Euronav

The group said that the quarter had been “difficult and challenging” and again pointed to surplus tonnage as the main cause, as increased recycling of older vessels was cancelled out by the arrival of new tonnage.


Kim Ullman, Concordia chief executive officer

Concordia still believes that the market will gradually strengthen from mid-2018 onwards, despite a weak start to the year.


Container freight

The Baltic Exchange has teamed up with digital container freight portal Freightos to launch a global container freight index.


The company predicts that China’s coastal chemical shipping will see a boom starting from 2019 as the Chinese government plans to build more chemical factories.


Hyundai Mipo Dockyard

Kuwait Oil Tanker Company has signed a USD167.6 million contract with South Korean shipbuilder Hyundai Mipo Dockyard for the construction of four 48,000 dwt product tankers.


1992-built FPSO, Four Rainbow

Malaysian FPSO service provider Yinson Holdings has signed a 10-year MOU with Japan’s Sumitomo Corporation to jointly pursue the leasing and operation of FPSO and FSO projects, which will provide an opportunity for both companies to establish collaboration based on the respective party’s expertise and strengths.