Shipping News
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

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.
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.
Ocean carriers are still paying a heavy price for not withdrawing vessel capacity between Asia and the Mediterranean since January.
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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