Costs to ship liquefied petroleum gas will exceed the 2008 record as the U.S. expands exports amid rising demand in Latin America and India, according to Exmar NV (EXM), the operator of 27 carriers.

A surplus of the largest oil tankers expanded for a second week in the Persian Gulf, the world’s biggest crude-loading region, a Bloomberg News survey showed. There are 19 percent more very large crude carriers available for hire over the next 30 days than probable cargoes, according to the median in a Bloomberg survey of six shipbrokers.

Rates to ship iron ore fell for a ninth day on speculation Chinese steelmakers will cut back from record-high production as prices fall. Daily earnings for Capesize ships hauling about 160,000 metric tons of the raw material slid 0.8 percent to $5,015, the lowest since May 1, according to the Baltic Exchange, the London-based publisher of shipping costs.

The EU will provide some €37 million to strengthen the fight against piracy in several Eastern and Southern African countries through support for the Programme to promote Regional Maritime Security (MASE).

In line with the INTERTANKO-led joint proposal last year, the International Maritime Organization (IMO) has agreed to a rescheduling of the International Ballast Water Management Convention implementation dates, which will smooth the installation scheduling for ships installing ballast water management systems (BWMS), a trial period for port state control and new guidance on BWMS type approvals.

D/S Norden A/S, Europe’s biggest owner of ships hauling iron ore and coal, is making its first bet in three years that rates for Panamax vessels will rally from the lowest in more than a decade. The operator of 64 of the ships booked 6 percent less cargo than its capacity this year, keeping reserves that can be used once earnings rise, according to a May 15 statement.

Rates to transport dry-bulk commodities by sea will recover from unsustainable levels as fleet growth slows and demand advances on Asian exports and the U.S. economy, according to Deutsche Bank AG.

Charter rates for the largest oil tankers hauling Middle East crude to Asia slumped for a fourth session as the surplus of available ships for loading cargoes expanded.