• 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
  • 28-of-Offshore-vessels-currently-laid-up-2916.jpg
    28% of Offshore vessels currently laid up
    Using VesselsValue’s Offshore mapping service VV@, Senior Offshore Analyst Charlie Hockless has put togther a snap shot showing the percentage of the offshore fleet currently laid up. Across all offshore types, 28% of the fleet is currently laid up, with PSVs topping the table with 36% of their fleet currently laid up. Read more
  • Firm-demand-will-continue-to-support-dry-bulk-shipping-2915.jpg
    Firm demand will continue to support dry bulk shipping
    Drewry expects that dry bulk shipping charter rates will continue to recover with firm demand and controlled fleet growth, according to the latest edition of the Dry Bulk Forecaster, published by global shipping consultancy Drewry. Read more
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