Archive

BIMCO: Container Shipping May Face Bankruptcies if It Fails to Recover Extra Fuel Costs

Posted By Tony Sanchez / Cargo News / 0 Comments

February 19, 2019 A failure to recover the extra fuel costs in full may result in bankruptcies in the container shipping industry, international shipping association BIMCO said. As the starting line for the International Maritime Organization (IMO) sulphur cap approaches, the dominant theme of 2019 will be the sharing of the higher costs that are […]

Panama Canal Authority Selects New Canal Administrator

Posted By Tony Sanchez / Cargo News / 0 Comments

February 18, 2019 The Panama Canal Board of Directors has selected Mr. Ricaurte Vasquez as the next Panama Canal Administrator. Vasquez is scheduled to take office on September 4, 2019, succeeding the current Administrator Jorge L. Quijano, who concludes his seven-year term at the helm of the waterway. The decision was made by the Board […]

New Joiner Gives Financial Boost to One Sea Autonomous Shipping Alliance

Posted By Tony Sanchez / Cargo News / 0 Comments

February 13, 2019 Shipbrokers Finland has joined One Sea, an alliance of companies which promote a common goal of self-guiding shipping. With the new partner, One Sea said it has secured funding to support its role as a business ecosystem. As explained, an injection of public funds via Business Finland will contribute to the ecosystem’s work […]

US Container Imports Still Strong as Tariff Increase Approaches

Posted By Tony Sanchez / Cargo News / 0 Comments

February 13, 2019 Imports at the nation’s major retail container ports have dipped since peaks seen last fall but remain at higher-than-usual levels as a possible increase in tariffs on goods from China approaches in March, the National Retail Federation (NRF) and Hackett Associates said.  “With trade talks with China still unresolved, retailers appear to […]

Poten: African Sweet Crude Oil Exports Expected to Grow

Posted By Tony Sanchez / Cargo News / 0 Comments

February 11, 2019 Representing the majority of the crude oil exported from Africa, low sulphur will become ‘increasingly desirable’ in the coming years, Poten & Partners said.  As explained, the demand for the so-called sweet crude oil will increase as IMO sulphur cap 2020 will force the majority of the shipping industry to switch to low […]

2020 Bulkers Raises USD 3 Mn for Yard Instalments

Posted By Tony Sanchez / Cargo News / 0 Comments

February 7, 2019 Norwegian shipowner 2020 Bulkers has raised net proceeds of USD 3 million through a private placement. On February 5, the company said that it conducted a private placement of 300,000 new shares, each at a subscription price of USD 10.0 per share. Subsequent to the closing of the private placement, 2020 Bulkers Ltd […]

IATA: 3.5% growth in 2018 despite demand softening

Posted By Tony Sanchez / Cargo News / 0 Comments

February 6, 2019 The global airfreight market grew by 3.5% in 2018 despite softening demand resulting in a fall in December, according to the International Air Transport Association (IATA). The growth in freight tonne kilometers was significantly lower than 2017, when it was 9.7%, with performance being sealed with a fall of 0.5% in December, […]

Intercargo: Cargo Liquefaction Still a Major Risk for Dry Bulk Shipping

Posted By Tony Sanchez / Cargo News / 0 Comments

February 4, 2019 Moisture related cargo failure mechanisms, known as liquefaction, continue to be a major concern for dry bulk shipping, according to the International Association of Dry Cargo Shipowners (Intercargo). Although there has been no reported loss of life or loss of ship attributed to liquefaction in 2018, Intercargo urged all stakeholders to remain […]

HRAS: 8 Seafarers Abandoned off Namibia Suffering from Serious Mental Health Issues

Posted By Tony Sanchez / Cargo News / 0 Comments

January 31, 2019 Eight Indian seafarers, who have been abandoned offshore Namibia on board an offshore supply vessel MV Halani without wages, are suffering from fatigue and serious mental health problems, a case study from England-based maritime charity organization Human Rights at Sea (HRAS) shows. Halani 1 is a DP3 vessel that works with offshore oil rigs owned […]

Qatar Unveils Plan to Order 60 LNG Carriers

Posted By Tony Sanchez / Cargo News / 0 Comments

January 29, 2019 Qatar plans to order 60 liquefied natural gas (LNG) carriers, Qatari Minister of Energy Saad bin Sherida Al-Kaabi unveiled at a summit held between Qatar and South Korea. A Qatari delegation had recently been dispatched to Korea to study the possibility of adding 60 new LNG tankers to Qatar’s existing fleet of 50 carriers, […]