The Baltic Exchange's main sea freight index marked its largest single-day percentage rise on Thursday, as capesize vessel segment rates jumped 50% on strong iron ore demand.The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, rose 281 points, or about 22.6%, to 1,527, its highest since Dec. 10.
The Baltic Exchange's main sea freight index recorded its biggest ever daily percentage jump on Wednesday, propelled by surging capesize rates due to a spike in iron-ore shipments.The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, rose 192 points, or about 18.2%, to 1,246, its highest since Dec. 17.
Two Russian companies signed a deal on Thursday to build the world's most powerful nuclear icebreaker to help boost trade on a northern sea route crucial to forging closer links with Asia.Atomflot, a subsidiary of Russian nuclear group Rosatom, and the Zvezda shipyard, owned by a consortium led by oil giant Rosneft, said they would work together to build the Lider (Leader) icebreaker.
On Oct. 10 last year, eight North Korean vessels - several carrying illicit coal shipments - were anchored in Chinese waters off the port of Ningbo-Zhoushan, according to a photo in a U.N. report published online on Friday.That appears to be a lax enforcement by China of U.N. sanctions aimed at curbing Pyongyang’s nuclear program under which countries are required to inspect cargo destined to or
The new coronavirus caused barely a blip in China's imports of major commodities, but this likely underscores the ways China differs from the rest of the world, rather than providing a template for the globe's recovery from the pandemic.China's crude oil imports in March, the month when much of the world's second-largest economy was in lockdown, were equivalent to 9.
Along the 1,600-mile, ice gray arch of the St Lawrence Seaway, the 2020 Great Lakes commercial shipping season will lurch back to life on March 25 when the Soo Locks at Sault Ste. Marie, Mich. reopen.The ceremonial opening signals a passage with passable ice and the 114th Great Lakes season for its fleet of 45 venerable lakers.
New Jersey-based Rand Logistics announced it has entered into a stock purchase agreement to acquire rival Great Lakes shipping company American Steamship Company (ASC) from Chicago-based GATX Corporation for $260 million.Headquartered in upstate New York, ASC operates the Lakes' largest U.S.
Japanese shipping and logistics company Nippon Yusen Kabushiki Kaisha (NYK) has placed an order to build a second LNG-fueled pure car and truck carrier (PCTC) with Shin Kurushima Dockyard Co.The shipbuilding contract was signed at NYK’s head office on January 31. The vessel is scheduled to be delivered in 2022 and will become NYK’s second LNG-fueled PCTC.
Today, Sunshine Pride, an NYK-operated coal carrier for Joban Joint Power Co. Ltd., was delivered by Japanese builder Tsuneishi Shipbuilding Co. Ltd.Under a long-term contract, this vessel will be dedicated to the transport of coal to generate electricity at the Nakoso Power Station in the city of Iwaki, Japan.
America’s first offshore liquefied natural gas (LNG) barge has been launched for owner Q-LNG Transport, Mississippi shipbuilder VT Halter Marine announced on Wednesday.The Q-LNG 4000 barge, designed to carry 4,000 cubic meters of LNG, with dimensions of 324’ x 64’ x 32’.6”, will be operated as part of an articulated tug and barge (ATB) unit designed to meet the requirements of American Bureau of
With 50 years of history, the Azimut | Benetti Group is recognized as the world’s largest motor yacht builder (global orderbook 2019). For nearly 10 years Azimut has been producing a wide range of luxury motor yachts in Brazil. Maritime Reporter´s correspondent in Brazil interviewed Italian executive Davide Breviglieri, CEO of Azimut Yachts do Brasil.
Japanese shipping giant Kawasaki Kisen Kaisha (K Line) has taken delivery of a 88,000 dwt coal carrier from compatriot shipbuilder Imabari Shipbuilding in Marugame.Named Corona Citrus, the vessel was delivered on September 11 for electric utility Electric Power Development Co. Ltd.