AP Moller-Maersk's Q1 profit nearly triples to US$1.1b Danish shipping and oil group AP Moller-Maersk said its net profit nearly tripled in the first quarter due to higher oil prices and higher container freight rates, boosting its shares by 7 per cent.
Baltic Dry Index extends record in London trade Commodity shipping costs rose to a record for a second day last Friday as congestion at China's ports exacerbated a shortage of vessels and the nation's steelmakers buy unprecedented volumes of iron ore.
Volatility seen in bulk ship market after record rates Freight costs for natural resources could break more records, but the market will be volatile as it grapples with heavy iron ore supplies, congestion at ports and new vessels.
A tale of two oil spills THE FINAL US Coast Guard report into the Cosco Busan incident says many observations are almost identical to those made about the Cape Mohican (IMO 7223314) 266 tonne oil spill in 1996 and in San Francisco.
US masters call for policy shift A GROUP representing senior US ships masters is asking that vessel documentation and inspection be transferred from the Department of Homeland Security (Coast Guard) to the Department of Transportation (Maritime Administration). Full Story
Iran makes $88M to expand Caspian fleet IRAN'S maritime authorities have raised $88M from banks to fund the renovation and expansion of the Caspian Sea shipping fleet. Full Story
Goldman Sachs loses Daewoo M&A GOLDMAN Sachs has lost its place in Daewoo Shipbuilding's M&A process. Full Story
OPEC profiteering could cause recession A GLOBAL economic recession is looming if OPEC does not open the oil taps and increase crude supply to rein in oil prices, claims the Centre for Global Energy Studies. Full Story
Rates affect trade patterns HIGH oil prices and a buildup of onshore stocks are causing crude oil tanker movements to shift eastward and halve in duration, claim analysts at the Centre for Global Energy Studies.
Rainbow ahead Stunning image by OSG tanker master Charles Brown in commanding lead in TradeWinds Maritime Photographer of the Year contest.
Surplus for Steamship Release of old year claims provision boosts reserves for club that faces hefty Cosco Busan bill.
DryShips profits double George Economou's US-listed bulker owner increases net income by 160% thanks to stronger rates.
Genco fixes another Peter Georgiopoulos-led bulker owner reveals its second three-year fixture in a day.
Trailer Bridge charges As stock in the Puerto Rico container barge specialist jump by 21.3% after an analyst upgrade, other US-listed shipping companies rise and dry-bulk slips.
Molaris confirms yard woes Excel Maritime Carriers' four capesize newbuildings at greenfield Korea Shipyard may not be delivered.
Excel forecast boosted After first-quarter results beat expectations, a Cantor Fitzgerald analyst pumps up her forecast for the US-listed owner's earnings and share price.
Genco in shares sale New York bulker owner readies a stock offering to boost coffers and allow major stakeholders to cash out.
Intermarine gets heavier US heavy-lift player ties up eight more Jungerhans units on order in Portugal with long-term charters.
Saevik looks for Aker exit Norwegian shipowner will sell stock at a discount rate, blaming a lack of support for his strategy going forward.
More Prosperity for Pac Basin New York's Genco Shipping & Trading extends a handymax bulker's time-charter by three years.
Jinhui beefs up orderbook Bulker owner inks another supramax unit at Japan's Oshima Shipbuilding.
Kassiotis takes resales Omega Navigation bags two product tankers newbuildings in $111m spree.
VLCC orders surge Broker says newbuilding orders for VLCCs are racing ahead on the back of red-hot freight rates.
Excel spot on Surge in average spot or short-term charter rates trebles first-quarter net profit at Excel Maritime Carriers.
Euroseas buys low Greek owner builds fleet with deal for 2,556-teu vessel for what it says is a price reflecting lower charter rate.
Fredriksen frees up $600m Seadrill completes $850m sale-and-leaseback of newbuilding, with similar deals on the table for other units.
Dover Strait near-miss Investigators probe close-quarters situation between cruiseship and car carrier in busy waterway.
Rieber rocks up at Bluestone Norwegian offshore owner grabs 40% of Singapore geotechnical specialist for an undisclosed fee.
Two more dead at Tuzla Two separate accidents claim more lives at under-fire Istanbul shipyard complex.
Sadra strike solved? Iranian yard workers walk out over unpaid wages, but solution is in sight.
Atlantis reborn Orkla Finans and RS Platou Finans team up in shipowning joint venture, with Hans Jurgen Firing and Per Engset already recruited to the board.
Sugar ship seized off Somalia Suggestion that vessel is carrying military equipment denied by operator, but no demands yet from pirates.
Nine missing off Philippines Indonesian ship rescues two of 11 crew members of Phillipines-flagged vessel which sank in rough seas.
MSC ship springs leak Indian coastguard rushes to aid of boxship, plugging leak as crew prepared to abandon.
Forecasts in Fredriksen's favour First quarter returns expected to rise at Frontline on the back of strong VLCC and Suezmax rates, analyst says.
"Malaria" kills worker at Subic Six others ill after another claimed outbreak at Hanjin's new Philippines shipyard.
CKYH rejigs transpacific loops Coscon, K Line, Yang Ming and Hanjin make route adjustments to reduce CO2 emissions.
Anchor-handler burns at Bender Newbuilding damaged by blaze at US shipyard, and three firefighters injured.
Jutha's profits sink Lack of ship disposals dampens results in first quarter for Thai multi-purpose vessel operator.
Goldman sacked Investment bank will not lead sale of controlling stake in Korea's Daewoo Shipbuilding as earlier announced.
Passengers saved from ferry fire More than 700 people rescued after blaze breaks out on vessel in Borneo river.
O.W. Bunkering lost a tanker in a fire at Las Palmas O. W. Bunkering & Trading A/S has lost their bunker tanker Olivia in a fire while lying at Las Palmas two weeks ago, and one crew member lost his life. During the stay in Las Palmas the boiler exploded and ...
Russian captain put in jail after grounding on Bornholm The police at Rønne took the 46 years old master of the Russian vessel MCL Trader into custody on Bornholm Saturday. The vessel ran aground in the early morning hours a few miles north of Rønne on Antoinette Beach on ...
New vessels to Alfons Håkans The Finnish tug owner Alfons Håkans has acquired the 55.5 ton bollard pull ASD tug Amber from Latvia. Renamed Triton, the tug is now operated with a Finnish crew under Finnish flag. She was built in the Netherlands in ...
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