Shipping

  • Shipping Leaders Experience Market Tumble

    Two sector leaders experienced a poor start to the trading week despite the shipping industry seeing an improvement over the last 12 months.

    Diana Shipping, a dry bulk shipping service provider, and DryShips, a cargo vessel owner, saw their shares drop considerably during Monday trading with DryShips hitting a brand new 52-week low.

  • Norway First to Join HNS Shipping Treaty

    Norway has become the first country to become a contracting state to a key compensation treaty covering the transport of hazardous and noxious substances (HNS) by ship.

    The HNS Convention establishes the principle that the 'polluter pays' by ensuring that the shipping and HNS industries provide compensation for those who have suffered loss or damage resulting from an HNS incident.

  • Shipping lines unprepared for cyber breaches

    Most shipowners today have not conducted comprehensive risk analysis to cyber breaches leaving the global merchant fleet very exposed to online attacks. That’s the view of Ronald Spithout, the president of satellite communications giant Inmarsat Maritime.

  • OPEC Chief Sees Oil Producers Closer to Re-...

    Oil-producing nations are moving closer toward ending a global glut and re-balancing the crude market, and OPEC will decide next month whether to extend its cuts in output beyond June, the group’s Secretary-General Mohammad Barkindo said.

  • ADANI GROUP EYES GLOBAL EXPANSION

    Adani Ports and Special Economic Zone Ltd (APSEZ), India’s biggest private port operating firm, will begin a feasibility study into building a greenfield multi-purpose port mainly for handling containers at Carey Island in Malaysia’s Selangor state, about 50 km southwest of the capital, Kuala Lumpur.

  • Shipping could find itself in new overtonnage...

    As the growth potential for global trade appears to be limited for the time being, ship owners should continue to look to trim further tonnage supply, in order to avoid a new crisis in the freight market. In its latest weekly analysis, shipbroker Allied Shipbroking said that “with focus being turned on the G7 meeting taking place in Italy this week and part of W-O-W change the main agenda to be discussed being the openness of trade and a hold on the growing trend towards protectionism, the prospects of global growth and its reliance on the openness of international trade are once again on the defense. Global growth has been moving at a sluggish pace for several years now and despite the optimism prevailing the commodities’ trade these past twelve months, it still seems as though there just isn’t enough drive to really getting things moving on a higher gear”.

  • Two ASD Tugs 2411 for Saam Smit Towage to be...

    Wilson Sons Limited (BM&FBovespa: WSON33) announces to its shareholders that the shipyard subsidiary Wilson Sons Estaleiros Ltda, has signed a contract to construct two azimuth tugboats for Saam Smit Towage do Brasil S.A. (“Saam Smit”), to be delivered within twenty months of payment of the first instalment of each vessel.

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COSCO and Qingdao Sign Silk Road Deal

Chinese shipping and ports operator COSCO and the fully automated Chinese container port of Qingdao have agreed to cooperate to develop port businesses in China and abroad.

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Damen celebrates nine decades of operations in the shipbuilding industry

Damen is celebrating nine decades of operations in the shipbuilding industry. From small beginnings in the 1920s, the company has grown into a renowned maritime service provider that employs 9,000 people. With Dutch roots, Damen’s expansion has been global. This growth can be viewed in terms of its yards, service hubs and other subsidiary companies as well as a globally-operating client base. For 90 years, Damen’s vessel designs have successfully served customers operating on all over the world.

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Damen supports call for Dutch naval sector investment

Damen Shipyards Group supports the report ‘The Navy and the Netherlands Maritime Cluster – an ecosystem under pressure’, by PRC (Policy Research Corporation). The report calls for increased investment into the Dutch naval fleet via ‘Launching Customer’ projects. 

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