MAP has made its first vessel purchase with six Aframaxes from Teekay Tankers
Next year will see a significant increase in the number of newbuildings due to enter service: the market’s ability to cope with this will depend to a great extent on continued strong exports of LPG to Asia shipping analysts said, adding that the outlook here remains encouraging despite US-China tensions over trade.
Just minutes after informing customers and bunker traders, Bomin issued a brief statement saying it is shutting its operations in Singapore and Antwerp.
TTA to issue bonds for business growth.
The Canadian market will see new maritime laws come into force in the coming year alongside new investment that will create greater demand.
Chinese bank leasing companies will continue to expand, buoyed by China’s economic growth and the rising importance of the maritime sector.
The sale of vessels for scrap has triggered speculative offers from cash buyers on the back of strong steel prices.
IUMI Ocean Hull Committee chair has warned that the industry faces the threat of a prolonged soft market.
The demand measured in tonne-miles has increased by 12–13% year on year in the first eight months of 2018 and by 8.2% in the global trade in LNG.
The global insurance industry sees Africa as the next big growth market, but access barriers remain a challenge.