Baltic Exchange's main sea freight index , tracking rates for ships carrying dry bulk commodities, hit a more than 11-year peak bolstered by firmer rates across vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 69 points, or 2.1%, at 3,324, its highest level since June 2010The capesize index edged up 34 points, or 0.9%, to 4,021.
McAllister Towing announced on Thursday it has signed a contract for the construction of two new tugs to be built at Washburn & Doughty Associates (W&D) in East Boothbay, Maine, with an option for two additional vessels.The 93- by 38-foot tractor tugs will each offer 84 metric tons bollard pull
Baltic Exchange's main sea freight index , which tracks rates for ships carrying dry bulk commodities, fell for the fifth consecutive session on Tuesday, pressured by weaker rates across all vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 45 points, or 1.4%, to 3,179.The capesize index eased 56 points, or about 1.7%, to 3,293.
UK's Unite union's Scotland unit on Tuesday said talks to prevent industrial action at Sullom Voe Terminal have ended with no movement on the part of Shetland Islands Council (SIC) to resolve the dispute over a long service award.Unless the Council accepts liability, around 40 towage workers employed by SIC are set to begin an overtime ban on July 5, which will continue over a seven-week period