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North Korean’s OMM Continues Dodging UN Sanctions

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February 10, 2016 North Korean shipping company Ocean Maritime Management Company Limited (OMM) continues to evade sanctions by operating foreign-flagged ships, according to a UN Security Council panel cited by Reuters. Read More

Cargo Volumes at US Container Ports Expected to Go Down

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February 10, 2016 Import cargo volume at major US retail container ports is expected to decline year-over-year for the next few months but the first half of the year should still amount to a 4.5 percent increase compared with the same period last year, monthly Global Port Tracker report by the National Retail Federation and Hackett […]

Maersk Group’s Full-Year Profit Down 82 Pct

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February 10, 2016 Danish shipping and energy conglomerate Maersk Group delivered a profit of USD 925m for the full year ending December 31st 2015, against USD 5.2bn reported in 2014, a drop of 82%. Read More

Alphaliner: FE-ECSA Rates Hit Rock Bottom

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February 10, 2016 Poor market conditions have prompted freight rates in the Far East to East Coast South America (FE – ECSA) trade to fall by 90% over the past twelve months, eroded by weak demand and low capacity utilisation, Alphaliner says. Read More

Navig8 Chemical Tankers Back to Black, Bullish on Outlook

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February 9, 2016 Navig8 Chemical Tankers Inc. has returned to profit reporting a net income of USD 9.1 million for the three months ended December 31, 2015, an increase of USD 11.1 million from a net loss of USD 2 million in the corresponding period last year. Read More

SwissMarine Hires One More from Diana

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February 9, 2016 Greek dry bulker owner Diana Shipping Inc. has entered into a time charter contract with Geneva-based SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the MV Semirio. Read More

Drewry: To Slow Steam or Not to Slow Steam?

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February 9, 2016 Bunker prices are now at a low level not seen since the early 2000s and with much lower marine fuel prices big containerships’ cost advantages are dwindling, according to Drewry Maritime Advisors Read More

NITC Back at INTERTANKO

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February 9, 2016 The National Iranian Tanker Company (NITC) has been readmitted to the International Association of Independent Tanker Owners (INTERTANKO) as a full member, the country’s news agency IRNA informed. Read More

Seven Companies Split USD 1.9bn in DOT Managament Contracts

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February 9, 2016 The US Department of Transportation (DOT) has awarded contracts with a total award value of USD 1.96 billion over eight years to seven U.S. maritime firms to manage, maintain and operate 48 National Defense Reserve Fleet (NDRF) vessels through January 2024. Read More

CSCL INDIAN OCEAN stranded in River Elbe

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February 8, 2016 The 18,982 TEU capacity ULCS CSCL INDIAN OCEAN remains stranded on a mud bank, near Grunendeich, on the river Elbe. The Haveriekommando will try to use the spring flood in the early hours of Tuesday February 9th 2016 to refloat her. Read More