News

(Bloomberg) — Deutsche Bank AG and two other German lenders providing about 14 percent of credit to ship owners are forgoing seizing vessels even after

(Bloomberg) — Rising U.S. naphtha exports could displace seaborne trade from the Middle East to boost demand for refined-oil tankers by 0.4 percent for

By Abdi Sheikh MOGADISHU (Reuters) – Somali President Hassan Sheikh Mohamud has granted an amnesty to hundreds of young Somali pirates to reduce the

By Balazs Koranyi OSLO (Reuters) – Offshore oil driller Seadrill expects to resolve operational problems this year, it said on Thursday, and predicted

(Bloomberg) — Cargill Inc., the agricultural trader that accounts for 2 percent of world freight, is ordering new ships in a reversal of a policy against

By Emma Farge and Dmitry Zhdannikov GENEVA, Feb 28 (Reuters) – Vitol, the world’s biggest oil trader, reported revenues that topped $300 billion

(Bloomberg) — Brazilian miner Vale SA more than doubled spending on maritime freight in the fourth quarter as it shipped more of the steel-making

  (Bloomberg) — Pacific Basin Shipping Ltd., Hong Kong’s biggest dry-bulk carrier, posted its first annual loss since listing in 2004 after a

A major milestone was reached today for Norwegian classification society, Det Norske Veritas (DNV).  For the first time ever, DNV has been awarded

(Bloomberg) — Charter rates for Capesize ships, which fell for a 14th session today, may rebound as increased export cargoes from Brazil compensate for

WASHINGTON — U.S. Coast Guard Commandant Adm. Bob Papp delivered the 2013 State of the Coast Guard Address at the National Defense University at Fort

(Bloomberg) — A storm that closed Australian ports handling 43 percent of world iron-exports delayed as many as 74 vessels amid rain that might interrupt

MANILA – As weather condition seems to be fine near Tubbataha Reef, salvaging operation for the ill-fated USS Guardian that ran aground last month along

(Bloomberg) — Bergen Group ASA, a Norwegian shipbuilder and offshore services company, would consider offers for one or both of its two remaining

In the past 24 hours, Singapore-based shipbuilder Keppel Offshore & Marine has added $460 million to their backlog with 5 new projects. The orders consist

(Bloomberg) — Rates to ship liquefied natural gas will decline over the next three years as trade fails to keep pace with the construction of new

A United States Court of Appeals has confirmed what many mariners have been saying for years: that Paul Watson and the Sea Shepherd Conservation Society are

(Bloomberg) — Royal Dutch Shell Plc, the world’s largest supplier of liquefied natural gas, agreed to buy LNG assets from Repsol SA for $4.4

(Bloomberg) — The largest oil tankers will remain unprofitable for at least two more years as the fleet overwhelms slowing demand for crude imports,

YENAGOA, Nigeria (Reuters) – Six foreign sailors were freed unharmed overnight by pirates who seized them off the coast of Nigeria’s oil-producing