Shipping News

by Nikki Ekstein (Bloomberg) It takes a lot of good business to be able to afford a megayacht. But owning one is very, very bad business, according to Aaron

by Nikki Ekstein (Bloomberg) Richard Fain, the chief executive officer of Royal Caribbean Cruises Ltd., is willing to bet $5 billion that he can take

By Katharine Houreld NAIROBI, March 14 (Reuters) – Pirates have hijacked an oil tanker with eight Sri Lankan crew on board, Somali authorities said on

By Peter Hinchliffe, Secretary General, International Chamber of Shipping The Ballast Water Management Convention (the Convention), aimed at establishing

By Mike Wackett (The Loadstar) – The eastbound capacity crunch hitting shippers to Asia is not temporary, but the beginning of a more permanent shift in

The UK National Oceanography Centre’s new Autosub Long Range, bearing the name ‘Boaty McBoatface’, is getting ready to hit the water on its

Miami-based Carnival Corporation has opened its second Fleet Operations Center in Seattle that will be used to provide real-time support for the

By Jonathan Saul and Parisa Hafezi LONDON/ANKARA, March 13 (Reuters) – Iran’s top cargo shipping company has held meetings in London to discuss a

Finnish technology and propulsion company Wärtsilä has launched a new technology that is designed to provide safer and more efficient vessel operations by

By Jennifer A. Dlouhy and Catherine Traywick (Bloomberg) — Senator Lisa Murkowski said President Donald Trump is interested in opening up new coastal

PARIS, March 10 (Reuters) – CMA CGM, the world’s third-largest container line, swung back to a net profit in the fourth quarter of last year,

The Swedish Maritime Administration is coordinating the salvage of general cargo ship which has run aground on the Gota River. The Netherlands-flagged Skagern

Spot container freight rates from North Europe to China increased by 45% this week, reaching a four-year high, according to the shipping consultancy Drewry.

March 10 (Reuters) – The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, closed at its highest

FRANKFURT, March 10 (Reuters) – German state-controlled lender NordLB will inject money into its loss-making Bremer Landesbank (BLB) unit, which is

The Panama Canal set yet another daily tonnage record in February 2017 with a total of 1,180 vessel transits totaling 1.18 million Panama Canal tons (PC/UMS).

By Ryan Collins and Robert Tuttle (Bloomberg) — By 2035, the U.S. may have surpassed Australia and Qatar to become the world’s biggest supplier of

By Scot Paltrow WASHINGTON, March 9 (Reuters) – Last week, President Donald J. Trump chose the deck of the newest U.S. aircraft carrier, the $13 billion

By Jessica Shankleman and Brian Parkin (Bloomberg) — Water and electric power plants don’t mix well naturally, unless you add some wind. Water tends to

The U.S. Coast Guard is coordinating salvage for the crew boat Miss Lynda which ran aground on a jetty near Cameron, Louisiana on Wednesday. The