Singapore has held onto its status as the world's top maritime hub for the ninth consecutive year, according to a recent index report.The Xinhua-Baltic International Shipping Centre Development Index Report, jointly published annually by Chinese state news agency, Xinhua, and global maritime data provider, the Baltic Exchange
Global Ports Holding PLC, the world's largest cruise port operator, said on Wednesday it had received an approach about a potential cash offer from Swiss-based MSC Mediterranean Shipping Company.Shares of the London-listed company closed up 19% at 109 pence and marked their best day in two years after Global Ports confirmed a Bloomberg report that MSC was considering taking a controlling stake
The fire-stricken passenger vessel Spirit of Norfolk was towed on Sunday to Colonna's Shipyard where U.S. Coast Guard and National Transportation Safety Board investigators will continue work to determine what ignited the blaze.The fire, which broke out aboard the 169-foot-long yacht style passenger vessel last Tuesday, was confirmed extinguished as of 9:58 a.m. Saturday, the Coast Guard said.
Global supply chain problems look to set to worsen, a new report published on Tuesday said, as China's COVID-19 lockdowns, Russia's invasion of Ukraine, and other strains cause even longer delays at ports and drive up costs.The study by analysts at Royal Bank of Canada (RBC) found that one-fifth of the global container ship fleet was currently stuck in congestion at various major ports.
The first diesel-electric bulk carrier built to operate on the Great Lakes has set sail on its six-week maiden voyage from Chengxi Shipyard in Jiangyin, China to Halifax, Canada.Canada Steamship Lines' new 26,000 dwt self-unloader Nukumi is scheduled to enter service at the start of the 2022 navigation season.
The U.S. Department of the Interior’s Bureau of Ocean Energy Management (BOEM) has granted Construction and Operations Plan (COP) for the South Fork Wind, New York’s first offshore wind farm, Ørsted confirmed Thursday. This is the final decision needed from the agency to move the project toward the start of construction.
The world's largest shipping firm A.P. Moller-Maersk has suspended five employees as part of an investigation into an alleged sexual assault on one of its ships run by a U.S. subsidiary, and said it was working closely with American authorities."We do everything we can to ensure that all of our workplace environments, including vessels
The Baltic Exchange's main dry bulk sea freight index extended its rally on Wednesday as robust demand and port congestion propelled the capesize index above 10,000 points for the first time in more than 13 years.The overall index, which factors in rates for capesize, panamax, supramax and handysize vessels, rose 238 points, or 4.4%, to 5,647, its highest since September 2008.
The Baltic Exchange's main dry bulk sea freight index extended its rally on Tuesday, rising about 5% to its highest in 13 years, steered by strong gains in capesize rates, and helped by demand for smaller vessels.The overall index, which factors in rates for capesize, panamax, supramax and handysize vessels, jumped 245 points, or 5.2%, to 4,962, its highest since September 2008.
The Baltic Exchange's main dry bulk sea freight index rose for a fourth straight session on Wednesday to a 12-year high, buoyed by higher rates across vessel segments.The overall index, which factors in rates for capesize, panamax, supramax and handysize vessels, rose 150 points, or 3.4%, to 4,560, its highest since November 2009.
The Baltic Exchange's main sea freight index on Monday rose to a more than 11-year peak on rising demand for all vessel sizes, with capesize rates extending their winning run to an 11th straight session.The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 55 points, or about 1.3%, to its highest since mid-2010 at 4,147.
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rallied to its highest in more than 11 years on Friday, fuelled by strong demand across vessel segments.The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, jumped to 3,566, up about 2% or 63 points, at its highest level since mid 2010.