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Darren Shelton from FuelTrust discusses why shipping prefers the illusion of regulation. In global shipping, we often talk about regulation as a good thing – and rightly so. Rules are meant to protect the environment, improve safety and support fair labour conditions. The International Maritime Organization (IMO) and other bodies have spent decades creating systems …
https://splash247.com/paper-tigers-at-sea/
https://splash247.com/paper-tigers-at-sea/Global terminal operator has signed a deal in Latin America to spend $760m expanding the Dominican Republic’s Port of Caucedo and its free trade zone. DP World said the Dominican Republic offers a compelling environment for manufacturers and logistics providers by offering competitive costs, robust tax incentives, and proximity to US markets and duty-free access. …
https://splash247.com/dp-world-to-spend-760m-expanding-caucedo-port-in-the-dominican-republic/
https://splash247.com/dp-world-to-spend-760m-expanding-caucedo-port-in-the-dominican-republic/Nordic American Tankers has revealed a new sale of one of its oldest vessels as fleet renewal at the suezmax specialist rolls on. The New York-listed company is offloading the 2004-built, 150,000 dwt Nordic Casor and should cash in about $22.5m after buying the vessel for a reported $29.7m in 2016. Earlier this year, the …
https://splash247.com/nordic-american-tankers-sells-elderly-suezmax/
https://splash247.com/nordic-american-tankers-sells-elderly-suezmax/COSCO Shipping Bulk is swelling its orderbook with a pair of newcastlemax bulk carrier newbuilds at a domestic yard. Brokers tell Splash that the dry bulk arm of the Chinese behemoth COSCO Shipping has booked 209,800 dwt units at leading newcastlemax builder CSSC Qingdao Beihai Shipbuilding. No price has been divulged for the duo slated …
https://splash247.com/cosco-books-newcastlemax-newbuilds/
https://splash247.com/cosco-books-newcastlemax-newbuilds/A surge in VLCC sales over the past two weeks highlights the resilience of asset prices in the large crude carrier market. The most recent transaction features Bahri, Saudi Arabia’s state-owned shipping line, offloading its second 17-year-old VLCC in months. Sales registers indicate that the Hyundai Samho-built Layla is changing hands for $46.6m. This follows …
https://splash247.com/jump-in-vlcc-sales/
https://splash247.com/jump-in-vlcc-sales/Greek owner Danaos has increased its holding in compatriot dry bulk giant Star Bulk Carriers. A recent filing to the US Securities and Exchange Commission (SEC) revealed that the John Coustas-led boxship tonnage provider and capsize bulker player had picked up around 2.03m shares in the Nasdaq-listed Star Bulk. The move takes Danaos’ holding to …
https://splash247.com/danaos-swells-position-in-star-bulk/
https://splash247.com/danaos-swells-position-in-star-bulk/Tariffs, increasing stem sizes and changing trade patterns formed much of the debate at the Minor Bulks session at this year’s packed Geneva Dry summit. Wlillem Vermaat, shipping director at Heidelberg Materials Trading, the second largest cement producer globally, noted that commodity trade flows tend to adjust to market changes. For example, US cement imports …
https://splash247.com/how-tariffs-have-already-reshaped-minor-bulk-trade-flows/
https://splash247.com/how-tariffs-have-already-reshaped-minor-bulk-trade-flows/As trade negotiations between the United States and China inch closer to resolution, stakeholders across multiple industries are holding their breath. For many, the focus is on tariffs, supply chains, and global competition. But for the long-neglected U.S.
https://www.marinelink.com/news/opedturning-tide-trade-talks-china-525576
https://www.marinelink.com/news/opedturning-tide-trade-talks-china-525576Israel attacked Hodeidah in Yemen after the Israeli army said it had warned residents of three ports under Houthi control to evacuate, the Houthi interior ministry said on Sunday.The strikes came shortly after Israel warned residents of Ras Isa…
https://www.marinelink.com/news/israel-attacks-yemens-hodeidah-port-525578
https://www.marinelink.com/news/israel-attacks-yemens-hodeidah-port-525578Work to recover the late British tech tycoon Mike Lynch's sunken superyacht off the coast of northern Sicily has been paused following the death of a diver involved in the operations, the company leading the effort said on Saturday.The 56-metre…
https://www.marinelink.com/news/diver-killed-during-salvage-bayesian-525579
https://www.marinelink.com/news/diver-killed-during-salvage-bayesian-525579