Divergence in refinery margins between the Atlantic and the Far East is driving both product and crude carrier freight rates, according to shipping analysts at Pareto Securities in Oslo. Crude tanker ...
Tanker rates get a boost
Sweden plans tonnage tax from 1 July 2016
The Swedish government plans to introduce tonnage tax next year after more than a decade of lobbying by the country's shipowner community. "In the Budget Bill for 2016, which is based on an agreement ...
Bulkers sold for high scrap prices as buyers speculate
Several ships were sold at high prices from 31 August to 4 September as cash buyers speculated on recovering scrap steel demand. The ships were all sold for recycling in India while weak market ...
Tianjin insurance costs may reach USD3.3 billion says broker
Insurers have been warned the cost of the explosions in the Port of Tianjin may reach USD3.3 billion. Reinsurance broker Guy Carpenter has issued its report on the explosions at the port on 12 August ...
NYK wins shipping contract with Hokuetsu Kishu Paper
Japan's NYK Line has won a long-term consecutive voyage charter (CVC) with compatriot paper manufacturer Hokuetsu Kishu Paper. The latter imports wood fibre and pulp to make paper. The contract will ...
Maersk Line cuts 16% West Central Asia-Europe
Maersk Line, the container shipping unit in the A.P. Moller-Maersk group in Copenhagen, says it will cut about 16% of its capacity on the West Central Asia-Europe trade lane. "In our continuous effort ...
APM Terminals buys control of Grup Maritim TCB terminals
APM terminals, the Rotterdam-based container terminals unit in A.P. Moller-Maersk group in Copenhagen, says it has acquired controlling interest in the 11 container terminals owned by Grup Maritim TCB ...
China’s coal imports down 31.3% y/y in first eight months
China's coal imports fell 31.3% year on year (y/y) to 139 million tonnes in the first eight months of 2015, according to Chinese customs statistics. In August alone, coal imports dropped 7% y/y to ...
China to enhance ship emissions regulations
China's Ministry of Transport on 8 September announced a plan to cut SOx emission from ships by 65% in the Pearl River Delta, Yangtze River Delta, and Bohai Sea by 2020. The move, as part of the ...
CMES, Sinotrans & CSC deny possible merger
China Merchants Energy Shipping (CMES) and Sinotrans Air Transportation Development have denied media reports on the possible merger of their parent companies China Merchants Group and Sinotrans & ...