News

Ocean freight rates for cargoes moving under contracts on major East-West routes decreased by 7% in the fourth quarter, shipping consultancy Drewry noted. The cost reduction, based on contract freight rate data provided...

The Port of Oakland had its busiest November ever for imports in 2018, shattering an 11-year-old record. The port said that it handled the equivalent of 83,364 loaded 20-foot import containers last month. That beat the...

Swedish tanker owner Concordia Maritime is selling the positions previously taken in four chartered-in Suezmax vessels. The company took part in period charters of four Suezmax tankers as part of the fleet positioning...

Around 25 kilograms of cocaine was found on board the Singapore-flagged containership San Clemente during an inspection in the Port of Callao, Peru. The inspection was conducted on December 15, while the ship remained...

Over 70 newbuild very large crude carriers (VLCCs) are scheduled for delivery next year, once slippage from 2018 is accounted for, data from Gibson shows. Out of these, 24 are due in the first quarter of 2019. The strong...

Technology company Rolls-Royce has signed a deal to equip two expeditionary oceanic cruise ships for the Portuguese based cruise company Mystic Cruises. Rolls-Royce will supply two Bergen, C25:33L8P main engines and a...

Kumiai Navigation, a wholly owned subsidiary of Japanese shipowner Kumiai Senpaku, has reportedly ordered two bulkers at Chinese yards, according to Clarksons Platou Shipbroking. Based on the report, Kuminai placed an...

The Havyard project with Havila Kystruten on hydrogen-powered coastal route operations is to receive NOK 104.3 million (USD 12 million) in funding from Pilot-E. The company said that the initiative could result in...

Russia’s Main Department of State Expertise (Glavgosexpertiza) has backed the project on construction of a new production facility as part of Novatek’s Yamal LNG project, utilizing the hydrocarbon resources of the South...

Sovcomflot has entered into a new USD 264 million six-year revolving credit facility with a consortium of five international banks. The credit facility is being used for the early refinancing of a balloon payment due on...