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The Baltic Exchange’s dry bulk sea freight index, which tracks rates for vessels transporting dry bulk commodities, was dragged lower by weaker rates across segments on Friday, but logged a weekly gain, buoyed by near two-year highs hit earlier. The main index, which factors in rates for capesize, panamax and supramax shipping vessels, fell by ...
https://www.hellenicshippingnews.com/baltic-index-edges-down-on-lower-rates-but-posts-weekly-rise-on-earlier-highs/Samsung Heavy Industries (SHI) from South Korea has made significant advancements in the shipbuilding sector in the United States by forming two new collaborations in line with Washington’s initiative to boost domestic shipyards known as Make American Shipbuilding Great Again (MASGA). In a trilateral memorandum of agreement, SHI partnered with General Dynamics NASSCO and their …
https://splash247.com/samsung-heavy-forms-two-american-shipyard-tie-ups/
https://splash247.com/samsung-heavy-forms-two-american-shipyard-tie-ups/Global merchant and processor of agricultural goods Louis Dreyfus is coming onboard a Pakistani port development programme, signing with a subsidiary of AD Ports Group to create a clean bulk handling and storage facility for agricultural goods at Karachi port. Rubens Marques, Louis Dreyfus’s head of South and Southeast Asia, said: “This development reflects our …
https://splash247.com/louis-dreyfus-comes-onboard-pakistan-port-project/
https://splash247.com/louis-dreyfus-comes-onboard-pakistan-port-project/Hengli Heavy Industry has tightened its foothold in the Greek newbuilding market after securing fresh LR2 product tanker orders from shipowning groups Alimia and Laskaridis. The Chinese yard confirmed it has signed multiple effective contracts for LR2s with the Athens-based owners, marking another step forward in its push into high-end liquid cargo carriers. The LR2s …
https://splash247.com/minerva-and-laskaridis-boost-tanker-bets-with-lr2s-at-hengli/
https://splash247.com/minerva-and-laskaridis-boost-tanker-bets-with-lr2s-at-hengli/According to StormGeo CEO Kim Sørensen, the next 12 months will mark a critical inflection point in how decisions are made at sea and ashore. “Over the next year, I anticipate significant advancements in generative AI and a growing adoption of autonomous AI agents that can make decisions and solve problems with minimal human intervention,” …
https://splash247.com/stormgeo-how-decision-making-in-shipping-is-changing/
https://splash247.com/stormgeo-how-decision-making-in-shipping-is-changing/Insurance rates for ships trading in the Black Sea have jumped sharply following a fresh wave of attacks on vessels linked to Russia. Russian president Vladimir Putin has warned that Moscow could expand its response if such attacks continue, saying retaliatory measures could extend to ships belonging to countries that support Ukraine. Ukrainian special forces …
https://splash247.com/splash-wrap-dark-times-across-the-black-sea/
https://splash247.com/splash-wrap-dark-times-across-the-black-sea/Greek owner George Economou’s TMS Group is set to boost its containership fleet with another wave of LNG dual-fuel newbuildings at China’s Zhoushan Changhong International Shipyard. Industry sources say TMS is planning up to 10 neo-panamax vessels of 11,400 teu, including eight fixed orders and two options, with deliveries targeted for 2028. The move effectively …
https://splash247.com/economou-ramps-up-boxship-ordering-spree/
https://splash247.com/economou-ramps-up-boxship-ordering-spree/Hapag-Lloyd is seeking to acquire ZIM, Israel’s largest container carrier, according to multiple media outlets, but the move is already running into resistance from ZIM’s workers’ committee, which has warned that the presence of Qatari and Saudi sovereign funds among the German carrier’s shareholders could pose a national security risk. Hapag-Lloyd’s main shareholders are German …
https://splash247.com/global-liners-look-at-acquiring-zim/
https://splash247.com/global-liners-look-at-acquiring-zim/Diana Shipping has added fresh period cover to its ultramax fleet after fixing two vessels on multi-year time charters at rates slightly above their previous employment. The Athens-based owner said its 2015-built DSI Pollux has been fixed to Stone Shipping at a dayrate of $14,750, less 5% commission. The contract runs until at least January …
https://splash247.com/diana-shipping-scores-double-ultramax-fixture/
https://splash247.com/diana-shipping-scores-double-ultramax-fixture/Flex LNG has appointed Marius Foss as chief executive officer, confirming him in the role after several months as interim CEO. Foss has also served as the company’s chief commercial officer. Foss joined the LNG carrier owner in 2018 and has since played a key role in shaping its commercial direction. He brings more than …
https://splash247.com/flex-lng-confirms-marius-foss-as-permanent-ceo/
https://splash247.com/flex-lng-confirms-marius-foss-as-permanent-ceo/