News
  • Indian-Thermal-Coal-Imports-Running-Out-Of-Steam-2925.jpg
    Indian Thermal Coal Imports: Running Out Of Steam?
    For some time, India was a positive driving force in seaborne steam coal trade, with rapid import growth recorded between 2008 and 2014. However, consistently increasing domestic coal production has had a significant impact on Indian steam coal import demand in recent years and raises questions over the outlook for the country’s role in global seaborne steam coal trade. Read more
  • Dry-Bulk-Capesizes-to-find-further-support-from-China’s-Iron-Ore-and-Coal-Imports-2924.jpg
    Dry Bulk: Capesizes to find further support from China’s Iron Ore and Coal Imports
    Dry bulk ship owners are enjoying the latest rally of the market, especially in the larger ship types. Despite the recent pause in the rates’ rally, shipbrokers appear to be optimistic that the rebound has more “legs”, as a result of China’s rise of iron ore and coal imports. In its latest weekly report, shipbroker Allied Shipbroking said that the Dry Bulk market continues to show a strong face amidst the favorable tail winds being seen, which have helped the Baltic Dry Index inch above the psychological barrier of 1,500 points. Read more
  • Global-BCOs-hit-by-4th-quarter-of-rising-contract-rates-from-Asia-2923.jpg
    Global BCOs hit by 4th quarter of rising contract rates from Asia
    Contract freight rates paid by Beneficial Cargo Owners to move their products by container have increased for a 4th consecutive quarter, according to actual contract rate data from the Drewry Benchmarking Club. Read more
  • Bulk-carrier-Yangtze-Harmony-abandoned-and-adrift-in-South-China-sea-2921.jpg
    Bulk carrier Yangtze Harmony abandoned and adrift in South China sea
    Bulk carrier Yangtze Harmony was abandoned after water ingress on 200 nautical miles off Vietnam coast. The vessel with 20 Chinese crew remained adrift in South China sea after the engine room flooded and all propulsion engineering was damaged. The issued distress signal was requested immediate evacuation due to worsening weather condition and danger from sinking. The local authorities received the distress signal and MRCC Vietnam ordered nearest vessel, container ship ALS Apollo, to rescue the troubled crew. All the people were picked up on board of the container carrier and will be disembarked at port of Fuzhou. Read more
  • Conflict-and-compromise-maritime-dispute-resolution-2919.jpg
    Conflict and compromise – maritime dispute resolution
    In shipping, the parties in disagreement are most often connected by some form of contract, for example a charterparty or a contract for services. Disputes also arise where the parties are connected only by the event itself, such as a collision or contact damage between a ship and the berth or other third-party property. Read more
  • BIMCOISCO-Standard-Spill-Response-Contracts-RESPONSECON-and-US-RESPONSECON-2918.jpg
    BIMCO/ISCO Standard Spill Response Contracts, RESPONSECON and US RESPONSECON
    Members are informed that BIMCO and ISCO (the International Spill Control Organisation), have launched two standard contracts, RESPONSECON and US RESPONSECON, for the hire of specialised spill response services and equipment. Read more
  • Hyundai-Heavy-Q2-net-plunges-49-pct-on-lower-profitability-2917.jpg
    Hyundai Heavy Q2 net plunges 49 pct on lower profitability
    South Korea’s top shipbuilder Hyundai Heavy Industries Co. said Tuesday its second-quarter net profit plunged 49 percent from a year earlier on lower profitability. Read more
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