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Photo: Shutterstock/Anatoly Menzhiliy

Oil Tanker Rates Soar Past $100,000 Per Day

  By Manisha Jha and Naomi Christie (Bloomberg) — The world’s biggest crude oil tankers earned more than $100,000 a day for the first time since 2008, amid speculation that a surge in Chinese bookings is curbing the number that are left available for charter. Ships hauling 2 million barrel cargoes of Saudi Arabian crude […]

NASA's Aqua satellite captured this visible image of Hurricane Joaquin over Bahamas on October 1 at 17:55 UTC (1:55 p.m. EDT).
Credits: NASA Goddard MODIS Rapid Response Team

Hurricane Joaquin Weakens in Bahamas as Search for Ship Continues

  By Brian K. Sullivan (Bloomberg) — A weakening Hurricane Joaquin probably won’t be a threat to the U.S. as it turns north in the Atlantic away from the Bahamas, where it’s battering the islands with winds that fell to 125 miles (200 kilometers) per hour. A container ship with a 33-member crew is missing. […]

Petty Officer 2nd Class Mark Campanale, marine science technician at Coast Guard Sector Columbia River, surveys the damage done to the MV Global Gold after it allided with Pier 1 in the Port of Astoria, Ore., and spilled 1,100 gallons of diesel fuel, Oct. 2, 2015. U.S. Coast Guard Photo

Bulk Carrier Spills Diesel in Oregon After Hitting Pier

  Panamanian-flagged bulk carrier spilled over 1,000 gallons of diesel fuel after alliding with a pier in Astoria, Oregon early Friday. The U.S. Coast Guard says it was alerted at approximately 12:55 a.m. that the 565-foot Global Gold allided with Pier 1 in the Port of Astoria, causing a 4-foot by 8-inch gash in the […]

Photo: Farstad Shipping

Farstad Shipping to Lay Up Five Vessels

  Farstad Shipping said Friday it is planning to lay up two platform supply vessels and three anchor handling tugs in Norway, marking the latest casualty of the weakened offshore market that is only expected to get worse. Farstad says that as a result of the lay ups approximately 100 offshore employees, mostly of Norwegian nationalities, will […]