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Drewry: Dry Bulk Equity Index Drops 15.2 Pct This Year

The Drewry Dry Bulk Equity Index dropped 15.2% YTD as a 28.5% slump between March and May was more than enough to offset an...

N. Tsakos (TEN) interview: Shipping grows in open seas

Nikolas Tsakos, founder President & Chief Executive Officer of Tsakos Energy Navigation (TEN), a pioneering shipping company celebrating its 30th anniversary as a publicly...

Drewry: Dry Bulkers’ Earnings Potential Improved Over Past 4 Months

The Drewry Dry Bulk Equity Index decreased 7.6% YTD, underperforming the S&P 500 which rose 8.1% YTD. The decline can be attributed to macroeconomic weakness...

BIMCO: Liner supply falls as operators reduce average sailing speed by 4%

During the COVID-19 pandemic, liner operators increased the average sailing speed by up to 4% due to strong demand and widespread port congestion. Today,...

BIMCO: Second-hand crude tankers at highest values in 25 years

“Second-hand crude tanker values for five-year-old ships hit bottom levels in late 2020 and have since increased by an average 67%. Over the past...

Major carriers remain on hunt for tonnage to boost market share

Led by MSC and CMA CGM, ocean carriers are again scouring the charter and sales and purchase markets for tonnage to boost capacity and...

BIMCO: Japan’s dry bulk imports fall 4% amid weak steel demand

“Having narrowly avoided a recession in the fourth quarter of 2022, the Japanese economy appears to be recovering. However, Japan’s demand for steel remains...

Flush with cash, ONE swaps charters for own container ships

After years of relying on charters, container ship operator Ocean Network Express is tapping profits from the COVID-19 era to build its own greener,...

BIMCO – Dry Bulk Market: The way China goes, so goes the market

We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should help solve the country’s...

Post-Boom Hangover Leaves Carriers with Massive Container Surplus

The return to ‘supply chain normalisation’ has led to the container liner industry being hobbled by an estimated surplus of 5m teu of boxes,...

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Abu Dhabi Exports Office signs USD235 million syndicated loan agreement to boost UAE trade with Trafigura

In a strategic move to empower UAE exporters and advance the nation’s economic diversification goals, the Abu Dhabi Exports Office (ADEX) has signed a...

Danaos Corporation announces upsizing of its share repurchase program by an additional $100 million

Danaos Corporation announced that its Board of Directors has approved the upsizing of its common stock repurchase program by an additional $100 million. The Company...

Belships goes to Blue Ocean Funds and F. Laeisz

The Norwegian shipping company Belships has new owners: the majority of the shares are now held by the investment platform Blue Ocean Funds. The German...

OceanPal reports Financial Results for the fourth quarter and year ended December 31, 2024

OceanPal Inc., a global shipping company specializing in the ownership of vessels, reported vessel revenues of $5.8 million, a net loss of $8.2...

NYK completes stock acquisition

Nippon Yusen Kabushiki Kaisha announced as follows the status of acquisition of its own common stock approved at the meetings of its Board of...

ICC: Pronounced spike in low-level crimes in Singapore Straits

The ICC International Maritime Bureau has revealed a rise in global piracy and armed...

Trump’s China Ship Fees Set to Hit Global Shipping Giants

Container ships, the workhorses of global trade transporting almost 90% of the world’s...

Baltic index snaps 3-day winning streak on lower capesize rates

The Baltic Exchange’s dry bulk sea freight index fell on Tuesday, snapping a three-day...

Baltic index gains on higher capesize, panamax rates

The Baltic Exchange’s dry bulk sea freight index, which tracks rates for vessels transporting...

Three NYK Group Shipping and Ship-Management companies to merge

Three shipping and ship-management companies within the NYK Group — namely, Asahi Shipping Co.,...

March volume shows sustained growth at port of Los Angeles

The Port of Los Angeles processed 778,406 Twenty-Foot Equivalent Units (TEUs) in March, 4.7% more than last year. The Port ended the first quarter...

Port of Long Beach busiest in U.S. through first quarter

Coming off its best first quarter on record, the Port of Long Beach is the nation’s busiest port through the first three months of...

CMA CGM, October Dry Port pen strategic partnership to boost Egypt’s logistics sector

Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El-Wazir witnessed the signing of a strategic partnership between the French...

Port of Rotterdam takes important step in making shipping more sustainable: pilot prepares port for safe bunkering of ammonia

Trammo, OCI and James Fisher Fendercare successfully conducted an ammonia bunkering pilot between two vessels at a terminal in the port of Rotterdam on...

Piraeus deputy CEO highlights port’s “great potential”

“The exceptional financial results of 2024 with record performance for another year and top global rankings show the great potential of the port,” said...