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Iron ore futures prices climbed on Monday to their highest in nearly two weeks, as optimism over easing trade tensions between China and the United States, the world’s two largest economies, outweighed demand concerns in top consumer China. Top Chinese and U.S. economic officials on Sunday hashed out the framework of a trade deal for ...
https://www.hellenicshippingnews.com/iron-ore-nears-two-week-high-on-us-china-trade-deal-optimism/
https://www.hellenicshippingnews.com/iron-ore-nears-two-week-high-on-us-china-trade-deal-optimism/Asia’s spot differential for very low sulphur fuel oil (VLSFO) inched higher on Monday, though remaining stuck in a discount as regional supply remained ample. Bids for November-loading VLSFO firmed from the previous session, lifting the Singapore cash differential nearer to $1 a metric ton. Meanwhile, high sulphur fuel oil (HSFO) markets remained volatile. The ...
https://www.hellenicshippingnews.com/vlsfo-differential-recovers-but-clings-to-discount/
https://www.hellenicshippingnews.com/vlsfo-differential-recovers-but-clings-to-discount/The Baltic Exchange’s dry bulk sea freight index, which monitors rates for vessels moving dry bulk commodities, fell to a more than two-week low on Monday, pressured by losses across all vessel segments. The main index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 15 points, or 0.8%, to 1,976 points, ...
https://www.hellenicshippingnews.com/baltic-index-hits-two-week-low-on-declining-vessel-rates-across-all-segments/Capesize The Capesize market lost some of its earlier momentum this week, ending on a softer note. Early positivity in the Pacific, driven by steady miner demand, increased operator activity, and weather-related port delays in China, gave way to a quieter close as offers on C5 slipped from the mid to high $10.00s into the ...
https://www.hellenicshippingnews.com/dry-bulk-market-capesizes-lose-some-ground/
https://www.hellenicshippingnews.com/dry-bulk-market-capesizes-lose-some-ground/UK energy services company Petrofac has filed for administration following TenneT’s decision to terminate an offshore wind contract. Petrofac said on Monday that it had “carefully assessed its options” and the impact of TenneT’s contract cancellation. The company had determined that the best course of action was to apply to the High Court of England …
https://splash247.com/petrofac-enters-administration-as-restructuring-plan-unravels/
https://splash247.com/petrofac-enters-administration-as-restructuring-plan-unravels/Offshore jackup rig player Borr Drilling has terminated two of its drilling contracts due to the counterparty being hit with international sanctions. According to the company, the terminations relate to the contracts for the 2013-built Odin and 2020-built Hild rigs operating in Mexico. The two rigs had firm commitments until November 2025 and March 2026, …
https://splash247.com/borr-drilling-cancels-two-mexico-deals-as-client-faces-sanctions/
https://splash247.com/borr-drilling-cancels-two-mexico-deals-as-client-faces-sanctions/Ben Pinnington, founder of Polaris Media, writes for Splash today. His new book, Making Waves: PR strategies to transform your maritime business, will be published by Rethink Press on Amazon on November 4. The sound of screeching breaks can be heard around the world. There can be little doubt the bruising confrontations at the International …
https://splash247.com/maritime-faces-mainstream-media-reckoning/
https://splash247.com/maritime-faces-mainstream-media-reckoning/Search and rescue operations are underway off Guangzhou, China, after a Chinese bulker sank following a collision with a Wan Hai Lines’ Singapore-registered containership on Saturday night. The 13,100-teu Wan Hai A17 collided with the Chinese-flagged bulker Hai Li 5 at around 20.00 hrs Singapore time, the Maritime and Port Authority of Singapore (MPA) said …
Greek shipowner Petros Pappas is edging back into the container market, with his privately held firm Oceanbulk reportedly striking a deal for a pair of feeder newbuildings in China. Shipbuilding and market sources have tied Oceanbulk to a contract for two 3,100 teu boxships at Zhoushan Changhong International Shipyard, priced at around $47m apiece. Deliveries …
https://splash247.com/oceanbulk-linked-to-boxships-comeback/
https://splash247.com/oceanbulk-linked-to-boxships-comeback/Samsung Heavy Industries has delivered a 7,500 cu m LNG carrier to Korea Line equipped with KC-2C, a locally produced LNG cargo hold, fulfilling a long-standing aspiration for the nation’s shipbuilding industry. The newbuild has successfully completed its maiden voyage, transporting LNG from Tongyeong to an LNG terminal in Jeju. KC-2C is a Korean cargo …
https://splash247.com/samsung-heavy-celebrates-commercialisation-of-its-own-lng-containment-system/
https://splash247.com/samsung-heavy-celebrates-commercialisation-of-its-own-lng-containment-system/