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21/10/2011
Five die as diving support vessel sinks off Bushir
The "Koosha 1" diving support vessel has sunk in Iranian waters, off the port of Bushir (20/10). Some 72 people were on board the 1982-built, 1,881 gt ship and at least five people have been reported dead. Rescue and search operations are underway.
Shipping News
Oil-Tanker Rates Gain Most in Two Weeks on Demand to Book Ships
Charter rates for the largest oil tankers hauling Middle East crude to Asia rose the most in two weeks amid speculation demand to book vessels strengthened.
Baltic Exchange woos brokers with stock to up ship futures trade
The Baltic Exchange began offering share incentives to brokers this month to attract more trades in dry freight derivatives on to its trading platform, which is losing money as the shipping sector slumps into a fifth year.
Supply/demand: Asia-Med-More misery in the Mediterranean
Ocean carriers are still paying a heavy price for not withdrawing vessel capacity between Asia and the Mediterranean since January.
Maersk to Extend Cost Cuts as European Imports Founder
A.P. Moeller-Maersk A/S (MAERSKB) Chief Executive Officer Nils Smedegaard Andersen said he’ll be forced to prolong cost cuts at the world’s biggest container line as a policy of capacity restraint fails to lift shipping rates.
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