Wednesday, September 15, 2021

Bulker Rates Post Biggest Daily Gain In A Decade

By Alex Longley (Bloomberg) In an already banner year for shipping, commodity carriers just saw their biggest daily gain in a decade. Average rates for giant Capesize bulk carriers —...

14 hours ago
Total Views: 478

Sunday, September 12, 2021
Fisheye Photo of Ship Stern

World’s Shippers Are Earning The Most Money Since 2008

By Alex Longley (Bloomberg) The global shipping industry is getting its biggest payday since 2008 as the combination of booming demand for goods and a global supply chain that’s collapsing...

September 12, 2021
Total Views: 3530

Wednesday, September 8, 2021

Neptune Is Said to Consider Merger With Rival Harbour Energy

By Dinesh Nair, Ruth David and Laura Hurst (Bloomberg) — Neptune Energy Group Ltd., the private equity-backed explorer, is considering options including a merger with Harbour Energy Plc that could create...

September 8, 2021
Total Views: 587


Saltchuk Ends Offer To Buy Overseas Shipholding Group

Shares of Overseas Shipholding ($OSG) fell over 20 percent to just $2.13 in early morning trading after Saltchuk Holdings ended discussions on a potential offer to buy the company. Overseas Shipholding Group, is...

September 8, 2021
Total Views: 2211

Monday, September 6, 2021

Belize Wins First Step Toward an Ocean-Friendly Restructuring

By Sydney Maki (Bloomberg) –Belize struck an agreement in principle with a group of bondholders to buy back its debt at a discount — but with an unusual, ocean-friendly twist. Under...

September 6, 2021
Total Views: 2978


MSC To Increase Its Peak Season Surcharge Between Europe And US

By Mike Wackett (The Loadstar) – MSC is to increase its peak season surcharge (PSS) between Europe and the US by $1,000 per 40ft on 1 October. The Geneva-headquartered carrier said...

September 6, 2021
Total Views: 1091

Tuesday, August 31, 2021

Floods, Outages Stall Energy Firms’ Restart Efforts After Ida

By Marianna Parraga and Stephanie Kelly(Reuters) – Widespread flooding from Hurricane Ida and power outages on Tuesday slowed efforts by energy companies to assess damages at oil production facilities, ports and refineries....

August 31, 2021
Total Views: 835

Monday, August 30, 2021

Oil Edges Up as U.S. Gulf Producers Assess Damage After Ida

By Sheela Tobben (Bloomberg) –Oil closed modestly higher Monday in New York as offshore explorers assess damage from Hurricane Ida and investors shift focus to an OPEC+ meeting that could see...

August 30, 2021
Total Views: 848

Saturday, August 28, 2021

Navios Merges Into Largest U.S. Listed Shipping Company

The Monaco-based Navios Maritime Partners (NMM) is acquiring the debt-laden Navios Maritime Acquisition Company (NNA) to create a massive containership, bulker, and tankship company with over 140 ships. This will...

August 28, 2021
Total Views: 1463

Saturday, August 21, 2021
Disney Cruise Ship Underway

CDC Says Vaccinated Cruisers Should Avoid Voyages

By Jonathan Levin (Bloomberg) Cruise shares slipped in after-market trading late Friday after the Centers for Disease Control and Prevention said high-risk travelers should avoid cruise ship travel, whether they are...

August 21, 2021
Total Views: 753

Wednesday, August 11, 2021
Greenpeace's Arctic Sunrise Navigating In Ice

Greenflation Hits Shipping

by Sujata Rao (Reuters) From container ships to cardboard, tighter environmental regulations are stoking shortages and price spikes as ‘greenflation‘ takes a grip, adding a new twist to corporate valuations....

August 11, 2021
Total Views: 1774

Tuesday, August 3, 2021
Miami Pilot Boat Underway With Maersk Kentucky

Maersk Raises Stock Guidance As Freight Rates Jump 59%

by Nikolaj Skydsgaard (Reuters) The world’s biggest container shipping company, A.P. Moller-Maersk, on Monday lifted its full-year earnings outlook after reporting strong preliminary quarterly results as chaotic conditions in the...

August 3, 2021
Total Views: 546

Tuesday, July 27, 2021

Navios Stock Crashes After Newbuild Announcement

by John Konrad (gCaptain) Shares of Navios Maritime Partners $NMM fell 7.5% this morning after the company announced a six-ship order for mid-sized containerships. Angeliki Frangou, CEO of the company,...

July 27, 2021
Total Views: 2200

Monday, July 26, 2021
baltic exchange offices

Baltic Index Climbs On Uncertainty And Extreme Weather

by John Konrad (gCaptain) The Baltic Exchange’s main sea freight index, the Baltic Dry Index (BDI), rose for a fourth straight session on Monday, fueled by higher demand for Capesize...

July 26, 2021
Total Views: 646

Saturday, July 24, 2021

It’s About Stimulus Checks Not Ocean Carriers Like Maersk Says White House Source

by John Konrad (gCaptain) Earlier this month, the Biden Administration signed an order cracking down on anti-competitive behavior in the shipping industry. This week a source close to the administration says the...

July 24, 2021
Total Views: 6138

Sunday, July 11, 2021
NASA Space photo of Suez Canal

Suez Canal Revenue Hits Record $5.84 Billion

by Yousry Mohamed (Reuters) How much does the Suez Canal make each year? Egypt’s Suez Canal revenue rose to a record $5.84 billion in its 2020-21 financial year (July-June), up...

July 11, 2021
Total Views: 4518

Sunday, July 4, 2021
Second Officer OSC Ship

Asyad May Sell 40% Of Oman Shipping Company

By Hadeel Al Sayegh (Reuters) Oman’s state-owned transport group Asyad is weighing the sale of a strategic stake in its subsidiary Oman Shipping Company (OSC), sources familiar with the matter said....

July 4, 2021
Total Views: 863

Friday, July 2, 2021

OSG Stock Soars After Saltchuk Takeover News

Shares of Overseas Shipholding Group (NYSE:OSG) soared almost forty percent in early morning trading after they announced that Saltchuk is interested in acquiring the company. Overseas Shipholding Group, a public...

July 2, 2021
Total Views: 4003

Tuesday, June 29, 2021
Lloyd's Register

Lloyd’s Register Sells Cyber Security Assets to Focus on Shipping

By Jonathan Saul LONDON, June 29 (Reuters) – British professional services provider Lloyd’s Register (LR) has agreed to sell its business assurance and cyber security division to Goldman Sachs Asset...

June 29, 2021
Total Views: 1096

Wednesday, June 16, 2021
Shipyard of Hyundai Heavy Industries

Hyundai Heavy IPO Is Coming In Hot

South Korean shipyards and shipowners will raise billions of dollars via new stock market listings later this year. The yards hope to capitalize on the start of a shipping “super-cycle”...

June 16, 2021
Total Views: 1933