Japanese investment propels Klaipeda port expansion

21 February 2024 bilateral cooperation in cargo transportation and attract new types of cargo. Key projects include dredging the port's shipping channel, developing an offshore wind turbine terminal, and establishing infrastructure for green fuel production.[/PAID]...

• Type: Article
• Category: Shipping & logistics

Grand ceremony unveils bulk carrier 'Romy'

21 February 2024 collaboration and dedication across international waters. Managed by Minship Shipmanagement GmbH & Co. KG, an esteemed shipping company based in Germany, Romy adds to its diverse fleet, contributing to their comprehensive services spanning commercial,...

• Type: Article
• Category: Equipment & technology

Expansion plans at Paradip port

20 February 2024 Boosting Capesize ship handling (CW Group) India Shipping News informs that the Paradip Port Authority is set to award an INR 554 crore contract to Larsen & Toubro Ltd for extending the port's south breakwater by 500 meters. This development is part of...

• Type: Article
• Category: Ports & handling

Rise in Dry Bulk Sea Freight Index

20 February 2024 Dry Bulk shipping rates surge (CW Group) Hellenic Shipping News reports a significant surge in the Baltic Exchange's dry bulk sea freight index, reaching a more than one-month high on Monday. Climbing rates across all vessel segments propelled prices...

• Type: Article
• Category: Markets & trade

Cement exports from Amirabad Port to Caspian nations surged 75%

20 February 2024 on commodities such as cement, construction materials, minerals, and citrus fruits, the port has experienced increased shipping efficiency, reduced road traffic, and satisfied exporters. Musipour expressed optimism for the future, anticipating continued...

• Type: Article
• Category: Markets & Competition

Red Sea maritime crisis intensifies

19 February 2024 that led to the crew's evacuation. The Houthis suggest the ship may sink, marking the first total loss since the Red Sea shipping crisis began four months ago. However, these claims are unverified. The vessel had previously shown signs of engine failure...

• Type: Article
• Category: Markets & trade

Dry bulk sea fright index reaches one-month peak

19 February 2024 The dry bulk sea freight index surged to a one-month peak, marking a weekly gain across all segments, reports Hellenic Shipping News. The Baltic Exchange's overall index, encompassing rates for capesize, panamax, and supramax vessels, climbed 29 points...

• Type: Article
• Category: Markets & trade

Bulk carrier market thrives

19 February 2024 market, underpinned by soaring demand for raw materials. Despite initial concerns over global economic uncertainties and shipping route variations in early 2024, modern capesizes witnessed a remarkable year-on-year surge of 34.93 percent, reaching USD...

• Type: Article
• Category: Markets & trade

Port activity on the rise in Astrakhan ports

19 February 2024 is constructing 7.5 kilometers of protective structures in the sea segment to minimize sand accumulation along the shipping route, with 3 kilometers already completed.[/PAID] Copyright CW Group. All rights reserved. Unauthorized distribution expressly...

• Type: Article
• Category: Ports & handling

Holcim completes silo upgrade in Green Bay

16 February 2024 sustainability. The modernization project is expected to result in fewer bridge openings in downtown Green Bay during shipping seasons, providing both operational and traffic-related advantages. The port terminal, previously owned by Lafarge North...

• Type: Article
• Category: Environment

India's oil boom and dry bulk fleet dynamics

16 February 2024 insights from shipbroker Xclusiv Shipbrokers shed light on the dynamics of the dry bulk industry, as reported by Hellenic Shipping News. Xclusiv Shipbrokers' latest report delves into China's robust commodity imports, notably showcasing a surge in iron...

• Type: Article
• Category: Markets & trade

Pyxis Tankers acquires eco-efficient vessel for expansion

16 February 2024 technologies like a ballast water treatment system and scrubber, the vessel sets a new standard for eco-friendly shipping. Financed through secured bank debt and cash reserves, this strategic investment reflects Pyxis Tanker's financial prudence and...

• Type: Article
• Category: Equipment & technology

Ukraine overcomes challenges to meet grain export targets

16 February 2024 at 25.2 million metric tons as of February 9. British Foreign Office officials noted that if Ukraine sustains its current shipping rate of 6 million tons per month by land and sea, it could successfully export its entire 2023-24 crop by May. Despite...

• Type: Article
• Category: Markets & trade

Diana Shipping expands fleet with Methanol dual-fuel bulk carriers

15 February 2024 New environmentally friendly vessels to join Greek shipowner's fleet (CW Group) Greek shipowner Diana Shipping has announced the addition of two new methanol dual-fuel Kamsarmax bulk carriers to its fleet, sourced from China's Tsuneishi Group...

• Type: Article
• Category: Equipment & technology

Dry bulk shipping market

15 February 2024 Market insights reveal fluctuating trends across key segments (CW Group) In the third week of February, dry bulk shipping rates and supply trends showcased dynamic shifts, while demand continued to decline, as reported by Hellenic Shipping News. During...

• Type: Article
• Category: Markets & trade

Danaos expands fleet with Capesize acquisitions

15 February 2024 Greek owner diversifies portfolio to seize market opportunities (CW Group) Greek shipping company Danaos continues to diversify its fleet, adding to its dry bulk and containership segments, as reported by Splash247.com. Danaos recently acquired two...

• Type: Article
• Category: Equipment & technology

Star Bulk expands fleet with new ECO bulk carriers

14 February 2024 Greek shipping giant enhances environmental efforts (CW Group) Star Bulk Carriers expanded its fleet with three additional ECO Kamsarmax vessels from Qingdao Shipyard, bringing the total newbuilding tally to five, according to Offshore Energy. These...

• Type: Article
• Category: Equipment & technology

Asia's thermal coal imports experience shifts

14 February 2024 Dynamics of Asia’s seaborne trade revealed (CW Group) According to Hellenic Shipping News there have been shifts in Asia's seaborne thermal coal imports, with variations in arrival volumes among key importing nations. In January, Asia's seaborne...

• Type: Article
• Category: Markets & trade

Star Bulk Carriers 4Q2023 financial results revealed

13 February 2024 moves include a significant share repurchase and expanding newbuilding order. The company's merger with Eagle Bulk Shipping progresses with regulatory approvals obtained and a shareholder vote scheduled for April 5, 2024, with the transaction expected...

• Type: Article
• Category: Markets & trade

Varma and OP Finland invest in ESL Shipping

13 February 2024 Partnership expands funding for low-carbon growth (CW Group) ESL Shipping announced a significant boost to its green transformation efforts as Varma Mutual Pension Insurance Company joins OP Finland Infrastructure LP in co-investing EUR 15 million in...

• Type: Article
• Category: Equipment & technology