Archive

Drewry: LNG Shipping Rates Rise as Sanctions Hit Vessel Availability

Posted By Tony Sanchez / Cargo News / 0 Comments

October 16, 2019 LNG shipping rates have surged to USD 130,000 pd currently from around USD 80,000 pd at the end of September due to tight vessel supply and seasonal firmness in demand, according to shipping consultancy Drewry. Furthermore, the upward momentum in rates is expected to be maintained in the fourth quarter of 2019 […]

Five Korean Shipping Companies Joining Forces to Get Qatari LNG Shipping Deals

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October 14, 2019 Five South Korean shipping companies are looking to create an alliance in order to secure huge LNG transportation orders that would be placed by Qatar. Companies including Korea Line, Pan Ocean, SK Shipping, Hyundai LNG Shipping and H-Line Shipping will present their plans for Qatari LNG project in Doha on October 14, […]

Panama Canal Handles Record Tonnage in 2019 Fiscal Year

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October 10, 2019 The Panama Canal has closed the 2019 fiscal year with a record tonnage of 469 million Panama Canal tons (PC/UMS), a 6.2 percent increase compared to the previous fiscal year. With this figure, the waterway exceeds the 450.7 million PC/UMS tons projection for FY 2019, as well as the record tonnage of […]

Intercargo: 2020 Still Dominates Dry Bulk Shipping’s Challenges

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October 8, 2019 In view of the 0.5% global sulphur limit regulation implementation on January 1, 2020, the global availability of safe compliant fuels remains a key question that is largely still unanswered – especially for ships in the dry bulk tramp trades, according to Intercargo. Intercargo’s Chairman, Dimitrios J. Fafalios, said that the shipowners’ […]

Poland Getting New Shipping Channel

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October 8, 2019 Poland’s Maritime Office in Gdynia has signed an EUR 187 million (USD 205.4 million) contract for the development of a shipping channel through the Vistula Spit which separates the Vistula Lagoon from the Gdańsk Bay. The joint venture Besix – NDI Group will be responsible for delivering the project that aims to […]

Drewry: Slow Car Carrier Recovery to Trigger More Distressed Asset Sales

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October 3, 2019 Car carrier shipping is expected to continue its slow recovery, supported by improving utilization and minimal vessel ordering. However, costs are rising while the trade outlook is vulnerable to rising geopolitical risk, which is expected to lead to more distressed vessel sales as shipping lines focus on landside investments in search of […]

WorldACD: Air cargo comes falling back to earth

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October 2, 2019 After the industry got its hopes in July, air cargo has come crashing back down to earth with a weak month in August, reports WorldACD. Total chargeable weight was down 7.1% year-on-year in August and yields by 9.4% in US dollars, pushing down revenue by almost 16%. General cargo was down 10.3% […]

IATA campaign looks to increase female airline employees

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October 1, 2019 The International Air Transport Association (IATA) announced is pledging to improve gender diversity among its member airlines with its new “25by2025,” campaign. the organization on Sept. 26. Among the goals set out by the campaign are: Reporting key diversity metrics annually. Increasing the number of women in senior positions at member airlines […]

McQuilling, IFCHOR Form Latin American Dry Bulk JV

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September 27, 2019 Independent shipbrokers McQuilling Partners and IFCHOR have formed McQ-IFCHOR SA, a joint venture focused on the Latin American dry bulk chartering and advisory services. “McQ-IFCHOR SA is a bold and exciting move by both companies. Our joint venture with IFCHOR is consistent with McQuilling’s long term expansion program of joining with a […]

UAE Joins US-Led Coalition for Maritime Security in the Gulf

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September 24, 2019 The United Arab Emirates has joined the United States-led mission that aims to protect the safety of maritime navigation and international trade. Salem Mohammed Al Zaabi, Director of the International Security Cooperation Department at the Ministry of Foreign Affairs and International Cooperation, said that the UAE’s accession to the International Maritime Security […]