The Baltic Exchange's main sea freight index on Monday drifted up to its highest since September 2010, as an uptick in rates for the larger capesize segment offset a drop in panamax vessel demand.The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, edged up 20 points, or 0.7%, to 2,808, a high since September 2010.
The head of the Suez Canal Authority (SCA) said on Monday he hoped talks would soon yield an agreement with the owner and insurer of a giant container ship which is still being detained since it blocked the waterway for six days last month.The 400-meter Ever Given became wedged diagonally across the canal in high winds on March 23, blocking all traffic.
The number of 15,000+ TEU ultra-large containership (ULCS) ordered reached record heights in March, reflecting the confidence of shipowners and investors amid continued strong demand in the container shipping sector.According to shipping organization BIMCO, the record-breaking 45 ULCSs and 27 additional "smaller" box ships ordered last month bring the total order capacity to 866,060 TEU
All ships stranded by the grounding of the giant container ship Ever Given in the Suez Canal in March had passed through the canal by Saturday, ending the backlog that built up during the blockage, the canal authority said.The last 61 ships, out of 422 ships that were queuing when the vessel was dislodged on Monday, passed through the vital trade artery on Saturday
German container liner Hapag-Lloyd has ordered six ultra-large container vessels from the Korean shipbuilder Daewoo Shipbuilding & Marine Engineering.DSME will build the 23,500+ TEU vessels and deliver them to Hapag-Lloyd between April and December 2023. The shipowner said Wednesday the investment would be around $1 billion and that the respective financing had already been secured.
Offshore oil and gas driller Noble Corp said on Friday it had filed for chapter 11 bankruptcy protection to restructure debt, following a historic fall in energy prices.The company said it would swap all its bond debt, which accounts for more than $3.4 billion of its total debt, with equity in the restructured company.
A San Diego shipyard has been awarded $10 million to continue emergency firefighting support, dewatering, safety and initial cleanup efforts aboard the fire-stricken USS Bonhomme Richard (LHD-6), the Pentagon announced. The award to National Steel and Shipbuilding Company (NASSCO) is a modification to a previous contract for repairs that had been underway when the blaze erupted aboard the
German shipowner Oldendorff Carriers says it has recently taken delivery of two new bulk carriers, continuing a string of newbuild deliveries from Chinese and Japanese shipyards.The 63,000 tdw Ultramax Britta Oldendorff and 100,000 tdw Post-panamax Diane Oldendorff, both built by Japanese yard Oshima Shipbuilding and handed over during the second quarter of 2020
Firefighters have extinguished a major ship fire that burned for more than four days aboard USS Bonhomme Richard (LHD 6) moored pier side at Naval Base San Diego, the Navy said Thursday afternoon.Rear Adm. Philip Sobeck, Commander of U.S. Navy Expeditionary Strike Group 3, said all known fires have been extinguished on board as fire teams continue to search the 844-foot-long Wasp-class
A wave of oil and gas bankruptcies in North America is likely to continue this year as oil prices remain depressed and a new surge of COVID-19 cases threaten to stall any recovery in fuel demand, law firm Haynes and Boone said in a report released this week.Bankruptcies surged in the second quarter, including from major shale independents Chesapeake Energy and Whiting Petroleum
The twin-hull heavy lift vessel VB-10,000 moored at the Port of Fernandina, Fla., July 3, 2020, for final modifications and function checks prior to heading to St. Simons Sound in early to mid-July. The two 255-foot tall gantries will use lengths of chain to cut the capsized RoRo vessel Golden Ray into eight pieces and lift them onto barges for eventual transportation to Louisiana for recycling.
The 18,465 containers moved from the ultra-large container vessel (ULVC) MSC Isabella at APM Terminals’ Pier 400 in the Port of Los Angeles last week set a new world record for most boxes moved during a single port call.The Port of Los Angeles, MSC Mediterranean Shipping Company, APM Terminals Los Angeles and International Longshore and Warehouse Union (ILWU) Locals 13