The Baltic Exchange’s main sea freight index weakened on Tuesday as rates dropped across all vessel segments. The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, slipped by 16 points, or 1.3%, to 1,211. The capesize index lost 35 points, or 2.3%, to 1,487. Average daily earnings for capesizes, which typically …
Waterfront Shipping Company Ltd. (WFS), a wholly-owned subsidiary of Methanex Corporation, is pleased to announce the addition of eight new methanol dual-fuel vessels to its fleet. These vessels are part of the company’s fleet renewal program which continually replaces older vessels with newer more efficient ones strengthening its commitment to safe, responsible and reliable transport …
Shipping Industry To Welcome New, Lower Emission, Methanol Dual-Fuel Vessels Read More »
Fitch Ratings has revised its global shipping sector outlook to stable, reflecting improving fundamentals for container shipping and dry bulk, albeit a relatively weak tanker segment. Prudent capacity management, particularly in container shipping, should enable operators to benefit from a partial rebound in demand across freight categories in 2021 based on our current expectations for …
BHP has awarded its first LNG supply agreement for five LNG-fuelled Newcastlemax bulk carriers, which will transport iron ore between Western Australia and China from 2022. Shell has been awarded the contract to fuel the vessels, which BHP will charter from Eastern Pacific Shipping (EPS) for five-year terms. BHP Chief Commercial Officer, Vandita Pant, said: …
BHP awards LNG supply agreement to Shell for LNG-fuelled iron ore vessels Read More »
Container availability across China is still at a record-low, while US ports are overwhelmed by a surge of shipping containers from Asia, full of products retailers are eager to get on shelves for the holidays. Due to the fastest increase in demand after months full of blank sailings, container availability for 40HCs is only at …
Financial highlights · Revenue up 6% to £48.2m, a strong performance given the impact of Covid-19 · Adjusted profit before tax of £2.52m, up from £0.15m · Organic growth over last year approximately 3% · Adjusted earnings per share increased to 3.1p (2019 loss of 3.9p) · Net debt at the period end of £8.3 …
Watson Farley & Williams (“WFW”) has advised MUFG Bank (“MUFG”), as Facility and Security Agent, and Development Bank of Japan Inc. (“DBJ”) as lenders on two non-recourse credit facilities totalling US$155m for the international, cross-border refinancing of two LNG carriers owned by joint venture companies belonging to NYK Line, Sovcomflot Group (“SCF Group”), and Samudera …
WFW advises lenders on US$155m Tangguh LNG carrier refinancing Read More »
Seismic contractor PGS said it will continue acquisition of the Campos Deepwater GeoStreamer X multi-client 3D seismic survey with multi-azimuth coverage. In December this year, PGS vessel Ramform Titan will resume operations, to acquire an additional 8,400 square kilometres. Ramform Titan will again be configured with 14 multi-sensor streamers, each 10.05 kilometres long, the largest …
The Nordic energy company Gasum has completed its first LNG bunkering operation in Emden, Germany. Courtesy of Gasum The company noted that its bunkering vessel Coralius supplied LNG bunkers to SIEM Confucius, the world’s largest LNG-powered car carrier. The operation continues Gasum’s bunkering services expansion towards continental Europe, the company said in its statement. Emden …
Gasum completes its first LNG bunkering in Emden Read More »
Irish oil and gas exploration company Providence Resources has signed a farm-out deal with SpotOn Energy for the offshore block in Ireland containing the Barryroe oil and gas discovery. Providence Resources and its partner Lansdowne Oil & Gas agreed to farm out a 50 per cent working interest in SEL 1/11 offshore license containing the …
Providence inks Barryroe farm-out deal with SpotOn Read More »
