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Marine News:

Tanker Scrapping Could be on the Rise, Despite Current Lull

What little hope there is for renewed ship scrapping activity lies on the back of tanker owners, as the latest surge in dry bulk freight rates means that older bulkers will likely remain in service for quite some time. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “with little market tonnage being ......

Fifty years ago and today in world shipping: Some insights from maritime history

Events of half a century ago may seem remote, almost ancient history. Yet events in the global shipping markets happening in 1967, and several trends then under way, shaped the future we see today in 2017-18. Momentous changes occurring in the late 1960s merit a review of aspects of maritime history. These have some parallels ......

Forties Pipeline Outage a Mixed Bag for Crude Tanker Market

ICE Brent futures surged to their highest in more than 2 years on Monday, crossing the $65/bbl mark due to the unplanned shutdown of the Forties crude oil pipeline for several weeks for repairs. The pipeline is a major artery which carries up to 450 kb/d from the North Sea to Scotland, with the Forties ......

Dry Bulk Market In Festive Mood as Rates Reach 4 Year-High

Shipowners active in the dry bulk market are popping champagne bottles early this year, as the “Festive” season seems to have arrived early in the form of a new surge in freight rates. In its latest weekly report, shipbroker Allied Shipbroking noted that “the Baltic Dry Index has showed a fairly bullish face lately, hitting ......

Moody’s: Alliances, M&A to remain key feature of container shipping sector seascape into 2018

Consolidation, whether through alliances or M&A, will continue apace in the container shipping industry into 2018 as companies try to boost market share, improve efficiency, and handle intensifying competition and persistent oversupply, says Moody’s Investors Service in a report published today. “The trend toward consolidation among container shipping firms will continue into 2018 as larger ......

New BARECON 2017 calculates future trends

BIMCO has published a new edition of BARECON, the industry’s go-to standard contract for bareboat chartering. The new leaner version of the contract, introduces a formula for calculating a fair share of costs for any compulsory structural changes or new equipment that may be implemented during the charter period. BIMCO started revising the contract in ......

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