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Senior U.S. and Chinese officials agree that no country can be allowed to exact shipping tolls in the Strait of Hormuz, the State Department told Reuters on Tuesday, in a sign that the two countries are trying to find common ground on efforts…
https://www.marinelink.com/news/china-us-agree-opposing-hormuz-tolls-539127
https://www.marinelink.com/news/china-us-agree-opposing-hormuz-tolls-539127The Baltic Exchange dry index increased 2.1% to 3063 on Tuesday, the highest since December 2023. The capesize index, which typically transport 150,000-ton cargoes, including iron ore and coal, rose 2.1% to 5,082. The panamax index, which usually carry 60,000 to 70,000 tons of coal or grain, advanced 3.4% to 2,360. Also, the supramax index ...
https://www.hellenicshippingnews.com/baltic-dry-index-highest-since-2023/
https://www.hellenicshippingnews.com/baltic-dry-index-highest-since-2023/Guinea has long been a cornerstone of the global bauxite trade, and its rapid export growth over the past five years has been a key driver of Capesize demand and firmer freight rates. However, the combination of a stalled Chinese aluminum industry, supply glut in the bauxite market, and conflict in the Middle East is ...
https://www.hellenicshippingnews.com/what-a-guinea-bauxite-export-cap-could-mean-for-dry-bulk/
https://www.hellenicshippingnews.com/what-a-guinea-bauxite-export-cap-could-mean-for-dry-bulk/Ship owners are increasing their activity in the market for newbuildings and second hand vessels. In its latest weekly report, shipbroker Banchero Costa said that in the newbuilding market, “in the bulk sector, China’s Jiangmen Nanyang Shipbuilding secured an order for 8 x 40,500 dwt bulk carriers from undisclosed interests. Price is $30 mln each, ...
https://www.hellenicshippingnews.com/newbuilding-activity-growing-while-more-deals-evident-in-the-second-hand-market/France’s CMA CGM has agreed to invest Ksh106bn ($820m) to modernise and expand two terminals at the Port of Mombasa under a cooperation framework with the Kenyan government. CMA CGM, which has been present in Kenya since 2005, said the investment will raise cargo‑handling capacity, strengthen regional trade corridors, and enhance Kenya’s connectivity to global …
https://splash247.com/cma-cgm-to-invest-820m-in-kenyas-port-of-mombasa/
https://splash247.com/cma-cgm-to-invest-820m-in-kenyas-port-of-mombasa/Greek dry bulk owner Safe Bulkers has entered into recapitulation agreements for the acquisition of four Japanese newbuild dry bulk vessels. Three newbuild vessels are 82,000 dwt kamsarmaxes, with two set for delivery in the first half of 2029 and one in the third quarter of 2029. One newbuild vessel is a 182,000 dwt cape, …
https://splash247.com/safe-bulkers-expands-orderbook-with-four-bulkers/
https://splash247.com/safe-bulkers-expands-orderbook-with-four-bulkers/Abu Dhabi state investor Mubadala has announced a $325m investment in Ørsted’s Hornsea 3, which, once completed, will be the world’s single largest offshore wind farm. Mubadala is investing alongside a consortium led by Apollo-managed funds, which includes USS and La Caisse. The investment follows Apollo Funds’ acquisition of a 50% stake in the joint …
https://splash247.com/mubadala-invests-325m-in-worlds-biggest-offshore-wind-farm/
https://splash247.com/mubadala-invests-325m-in-worlds-biggest-offshore-wind-farm/UK offshore vessel owner North Star has secured contracts for 17 emergency response and rescue vessels (ERRV) in its fleet for work in the North Sea. The contracts, comprising both new awards and renewals, represent approximately 50 years of combined contract duration. The deals were secured through a combination of competitive tender processes and contract …
https://splash247.com/north-star-secures-contracts-for-17-errvs/
https://splash247.com/north-star-secures-contracts-for-17-errvs/The Iran war is starting to shape China's imports of major commodities, with April data showing a sharp decline in crude oil but rising trade in metals.The headline-grabbing number from the figures released last week by customs was the slide in arrivals of crude oil…
https://www.marinelink.com/news/oil-slides-metals-jump-hormuz-impacts-539066
https://www.marinelink.com/news/oil-slides-metals-jump-hormuz-impacts-539066Fast Offshore Supply (FOS) has selected Incat Crowther to design a fleet of 10 new DP2 fast crew transfer vessels (CTVs) for offshore operations supporting Brunei Shell Petroleum, a joint venture between Shell and the Government of Brunei.The…
https://www.marinelink.com/news/fos-picks-incat-crowther-design-fast-ctv-539067
https://www.marinelink.com/news/fos-picks-incat-crowther-design-fast-ctv-539067