ShipOracle News
Russia's state-owned reinsurer has given financial backing to three Russian insurance firms, allowing them to get Indian approval to provide marine insurance cover to tankers, two sources said, as Moscow seeks to facilitate trade with India amid Western sanctions.A raft of sanctions by the U.S.
https://www.marinelink.com/news/russia-reinsurer-backs-firms-india-marine-513237
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The end may be in sight, but the race for bigger cranes is still having an impact on offshore wind project efficiency.The industry has already felt the need for upgrading crane lifting capacity on existing offshore wind installation vessels…
https://www.marinelink.com/news/new-cranes-offshore-wind-efficiency-513238
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Royal Caribbean Group raised its annual profit forecast for a second time and beat expectations for first-quarter profit and revenue on Thursday, with half of its growth coming from higher ticket pricing.Soaring demand for vacations at sea has…
https://www.marinelink.com/news/cruise-boom-royal-caribbean-lifts-profit-513239
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The U.K. on Thursday said its Royal Navy had shot down a missile fired by the Iran-backed Houthis from Yemen targeting a merchant vessel in the Gulf of Aden."The UK continues to be at the forefront of the international response to the Iranian-backed Houthis’ dangerous attacks on commercial vessels…
https://www.marinelink.com/news/britain-says-navy-shot-down-houthi-513240
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A company’s lack of requirements for crew to regularly check below-deck compartments led to undetected flooding and the eventual capsizing of a dredging vessel last year on the Mississippi River, the National Transportation Safety Board (NTSB)…
https://www.marinelink.com/news/dredge-sunk-undetected-flooding-a-513241
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The first commercial vessel transited through a newly opened channel in the Port of Baltimore following the deadly collapse of the Francis Scott Key Bridge.The Fort McHenry Limited Access Channel (LAC) was opened as a temporary solution to provide…
https://www.marinelink.com/news/first-ship-departs-baltimore-limited-513242
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The U.S. Navy embarked the first Mine Countermeasures Mission Package (MCM MP) aboard USS Canberra (LCS 30), April 18, service officials announced. With the MCM mission package now onboard LCS 30, the Navy anticipates the first MCM Mission Package…
https://www.marinelink.com/news/us-navy-announces-first-mine-513243
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Dalian iron ore futures prices extended their rise for a second straight session on Thursday, supported by lingering demand hopes in top consumer China, although some profit taking limited gains. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 1.03% higher at 879.5 yuan ($121.36) a metric ton, after ...
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U.S. coal used for the steelmaking process has sold for more than double the price of U.S. coal used as a fuel for electricity generation in six of the last seven years, underscoring a historical trend. U.S. metallurgical coal, used primarily as a raw material in the steelmaking process, historically has sold into export markets ...
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ShipOracle News
We expect the supply/demand balance to strengthen in 2024 and weaken in 2025. Supply is estimated to grow by 2-3% in 2024 and 1.5-2.5% in 2025, while demand is projected to grow by 2.5-3.5% in 2024 and stagnate in 2025. Overall, conditions in the dry bulk market should stay strong in 2024 but could begin ...
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