INTERCARGO Expresses ‘Deep Concern’ Over Missing Nur Allya Loaded with Nickel Ore

The International Association of Dry Cargo Shipowners (INTERCARGO) is once again urging shipowners, operators and crews to exercise extreme caution when loading nickel ore and other cargoes known to liquefy following the loss of the Nur Allya in Indonesia. INTERCARGO this week said it was deep concerned over the fate of the 25 crew members reported missing aboard the Nur … [Read more...]

Baltic Dry Index Falls for Eighth Session

Aug 1 (Reuters) - The Baltic Exchange's main sea freight index fell for an eighth straight session on Thursday, as increased vessel supply and easing demand for shipping iron ore dragged down capesize rates, while soft South American orders hurt panamaxes. * The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 3%, or 56 points, to 1,812 … [Read more...]

Baltic Dry Index Hits 11-Month High on Strong Demand for Iron Ore Shipping

July 9 (Reuters) - The Baltic Exchange's main sea freight index rose to its highest in 11 months on Tuesday, driven by higher rates for larger capesize vessels on strong demand for shipping iron ore. * The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose about 2%, or 34 points, to 1,759, its highest since early August. * The index rose 28% … [Read more...]

Hitting the Slopes: Swiss Ski Hub is Home Port for Billionaire-Backed Shipping Firm

By Andy Hoffman (Bloomberg) -- Peter Weernink, the former head of a shipping line that counts Glencore Plc as its biggest shareholder, has started a new dry bulk operator from one of Switzerland’s most exclusive Alpine resorts. Singapore Marine Ltd. will have an office in Verbier, the Swiss village where Weernink resides, alongside British royals and celebrities … [Read more...]

Brazilian Port Operators Seeking Ways to Reduce Panama Canal Tariffs

By Ana Mano SAO PAULO, April 2 (Reuters) - Brazilian port operators including units of global grain traders Cargill Ltd and Bunge Ltd will unveil a proposal this week to lower Panama Canal tariffs and cut their costs in shipping agricultural commodities to their main market China. They will argue that at current tariffs, shipping grains from Brazil's northern ports via … [Read more...]