The Wire

This page features all the latest news and developments in shipping, shipbuilding, offshore, dry bulk, tankers, gas carriers, ports as well as news for commodities and currencies.

The Wire

Bird's Eye view of APL terminal in Port of L.A./Long Beach.

January 24, 2020

Port of Long Beach moves over 7.6 million TEUs in 2019

The Port of Long Beach navigated a trade dispute with China, new technology and evolving trade routes in 2019, culminating in its second-busiest year on...

January 24, 2020

Gas Exports Have a Dirty Secret: A Carbon Footprint Rivaling Coal’s

In May, while President Donald Trump toured a new $10 billion plant designed to prepare natural gas for export, he made a vow. Such facilities...

January 24, 2020

China tax changes unlikely to boost marine fuel supply until Q2

Chinese oil refiners are unlikely to boost their output of cleaner marine fuels until at least the second quarter of 2020 because they will need...

January 24, 2020

TORM orders two LR2 newbuildings

TORM has entered into an agreement to purchase two scrubber-fitted and fuel-efficient LR2 newbuildings from Guangzhou Shipyard International (“GSI”) with expected delivery in the fourth...

January 24, 2020

Baltic index falls on weaker demand for vessels

The Baltic Exchange’s main sea freight index fell to a near one-year low on Thursday, dragged by weaker demand across vessel segments. (more…)

January 24, 2020

Transition to IMO 2020 marine fuel sulfur limit rule ‘relatively smooth:’ IMO

The International Maritime Organization said in a statement Tuesday that the transition to its global sulfur limit rule for marine fuels has been “relatively smooth.”...

January 24, 2020

IMO’s marine fuel rules sets shipping industry for a comeback in 2020: IHS

The global shipping market is set for a recovery, benefiting from new global rules on marine fuels that came into effect at the beginning of...

January 23, 2020

StealthGas acquires German LPG carrier trio

StealthGas has acqired three LPG carriers from Hartmann Group. (more…)

January 23, 2020

McDermott International Files for Chapter 11 Bankruptcy

U.S. oilfield services provider McDermott International Inc said on Tuesday it would file for prepackaged bankruptcy protection under Chapter 11, as it looks to cut...

January 23, 2020

Big Ocean Polluters Are Raising Rates to Offload Clean Fuel Cost

Container-shipping companies, some of the biggest polluters of the world’s oceans, are managing to pass higher costs onto customers after switching to more expensive fuel...

The Maersk's Triple-E giant container ship Maersk Majestic, one of the world's largest container ships, is seen at the Yangshan Deep Water Port, part of the Shanghai Free Trade Zone, in Shanghai, China, September 24, 2016. Picture taken September 24, 2016. REUTERS/Aly Song

January 23, 2020

Maersk Jacks Up Fuel Surcharge as Shipping’s Biggest Expense Spirals

The world’s largest container shipping line is hiking up a fuel surcharge that it imposes to transport boxloads of goods across the world’s oceans after...

January 23, 2020

World Economic Forum: IMO Secretary-General calls for renewed cooperation

At the World Economic Forum in Davos this week, IMO Secretary-General Kitack Lim is calling for renewed cooperation from all stakeholders to tackle the urgent...

January 23, 2020

Fearnleys Weekly Report [W04]

The VLCC market has bounced back after last week’s turmoil. (more…)

January 23, 2020

Baltic index dips to near 1-year low on seasonal weakness

The Baltic Exchange’s main sea freight index fell to its lowest since February on Wednesday, hurt by a seasonal slowdown in demand amid higher costs...