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President Donald Trump's administration is considering a proposal to create an international shipping registry in the U.S. Virgin Islands as part of efforts to enlarge the tiny commercial shipping fleet flying the American flag, according to…
https://www.marinelink.com/news/us-considering-new-ship-registry-us-525536
https://www.marinelink.com/news/us-considering-new-ship-registry-us-525536Iron ore prices dropped on Thursday, as traders weighed prospects of weakening demand amid fresh expectations of crude steel output cuts in top consumer China. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) closed daytime trade down 2.73% at 693.5 yuan ($95.82) a metric ton, its lowest since April 11. The ...
https://www.hellenicshippingnews.com/iron-ore-slides-on-expectations-of-steel-output-cut-in-china/
https://www.hellenicshippingnews.com/iron-ore-slides-on-expectations-of-steel-output-cut-in-china/China’s steel exports are set to slump in the second quarter, threatening to exacerbate a supply glut at home, analysts and traders said, as the trade war and a wave of protectionism moving in its wake crimps export markets. Second-quarter shipments from the world’s largest steel producer and exporter are forecast to fall by up ...
https://www.hellenicshippingnews.com/trade-war-set-to-slash-chinas-steel-exports-aggravating-oversupply-at-home/The Baltic Exchange’s dry bulk sea freight index, which measures shipping rates for vessels transporting dry bulk commodities, fell to a more than two-week low on Thursday, as weak rates in the capesize segment weighed. The main index, which monitors rates for capesize, panamax and supramax shipping vessels, lost 58 points, or 4.2%, to 1,316, ...
https://www.hellenicshippingnews.com/baltic-index-falls-to-two-week-low-as-capesize-segment-declines/How brokers will evolve, and what owners and charterers will seek out of their broking houses in the years ahead formed much of the debate in the Chartering Spotlight panel at last week’s Geneva Dry summit. Torbjørn Gjervik, CEO of Norway’s Western Bulk, told delegates he felt the future of chartering would involve people who …
https://splash247.com/how-the-business-of-chartering-is-evolving/
https://splash247.com/how-the-business-of-chartering-is-evolving/Danish liner giant Maersk has lowered its global container market forecast for this year due to increased macroeconomic and geopolitical uncertainty. Maersk has issued a fresh prognosis for market development in 2025, ranging from a 1% dip to a 4% increase, compared to the 4% rise projected earlier this year. The Vincent Clerc-led company said …
https://splash247.com/maersk-slashes-2025-global-container-projections/
https://splash247.com/maersk-slashes-2025-global-container-projections/ARO Drilling, a joint venture of New York-listed offshore driller Valaris, has signed extensions for five jackup rigs with Saudi giant Aramco. The extensions, all for five years, were signed for the Valaris 250, Valaris 116, Valaris 146, Valaris 140, and Valaris 141 or as ARO Drilling referred to them in its statement, the Bob …
https://splash247.com/aro-drilling-agrees-extensions-for-five-jackups-with-saudi-aramco/
https://splash247.com/aro-drilling-agrees-extensions-for-five-jackups-with-saudi-aramco/Dutch surveyor Fugro has been awarded a contract to perform comprehensive geotechnical surveys for the eastern array of the Dogger Bank South (DBS) offshore wind farms. The initiative is led by RWE and Masdar to develop one of the UK’s most powerful offshore wind energy projects. The detailed surveys will provide data on subsurface conditions …
https://splash247.com/fugro-gets-more-survey-work-on-uk-offshore-wind-farm/
https://splash247.com/fugro-gets-more-survey-work-on-uk-offshore-wind-farm/New York-listed Greek owner Costamare has continued the trend of offloading smaller bulkers with another handysize set to exit the fleet. The Konstantinos Konstantakopoulos-led company is shipping out the 2010-built 31,775 dwt Resource, with delivery to an undisclosed new owner expected during the second quarter. Costamare bought the ship in July 2021 for about $12.6m …
https://splash247.com/costamare-ships-out-15-year-old-handy/
https://splash247.com/costamare-ships-out-15-year-old-handy/Danish product tanker owner and operator Torm has continued the disposal of older tonnage with the sale of one of its two oldest LR2 vessels. The New York and Copenhagen Nasdaq-listed company has revealed the sale of an unnamed 2008-built LR2 unit with delivery to new owners expected during the second quarter of this year. …
https://splash247.com/torm-sells-off-ageing-lr2/
https://splash247.com/torm-sells-off-ageing-lr2/