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Turkey-based tanker operator Palmali on Friday lost its London lawsuit against the trading arm of Russian oil producer Lukoil over a purported deal to provide oil products.Palmali, controlled by Azerbaijan-born businessman Mubariz Mansimov, first sued Lukoil's Swiss subsidiary Litasco at the High Co
https://www.marinelink.com/news/palmali-lawsuit-against-lukoils-litasco-526124
https://www.marinelink.com/news/palmali-lawsuit-against-lukoils-litasco-526124A large container ship ran aground early on Thursday (May 22) morning and crashed into the front garden of Johan Helberg who lives near Trondheim in southwestern Norway.The 135m (443ft) Cypriot-flagged cargo ship, the NCL Salten, narrowly missed Helberg's house by mere metres around 0500 local time
https://www.marinelink.com/news/cargo-ship-crashes-front-garden-norwegian-526126
https://www.marinelink.com/news/cargo-ship-crashes-front-garden-norwegian-526126A pumping station on the Caspian Pipeline Consortium (CPC) pipeline in Russia damaged in February is back in service, operator CPC said on Friday.The route is Kazakhstan's main means of exporting crude and also carries Russian oil to the Black Sea for export by tanker.The Kropotkinskaya pumping stat
https://www.marinelink.com/news/caspian-pipeline-consortium-damaged-526127
https://www.marinelink.com/news/caspian-pipeline-consortium-damaged-526127Iron ore futures prices dipped on Friday and posted weekly losses on persistent property weakness in China as well as slowing demand for the steelmaking ingredient. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) TIO1! ended daytime trade 1.24% lower to 718 yuan ($99.73) a metric ton. The contract lost 1.51% ...
https://www.hellenicshippingnews.com/iron-ore-posts-weekly-loss-on-slowing-chinese-steel-demand-property-weakness/Today’s intense macro-economic and geopolitical uncertainty may soften demand for seaborne dry bulk commodity imports but may also mute dry bulk ship orders over the next quarters. It has been just over a month since tariffs were announced by President Trump, and despite recent positive developments with China and the UK, it is anyone’s guess ...
https://www.hellenicshippingnews.com/dry-bulk-uncertainty-mutes-everything/
https://www.hellenicshippingnews.com/dry-bulk-uncertainty-mutes-everything/Larger bulkers were in demand in the S&P market over the past week. In its latest report, shipbroker Banchero Costa said that “in the Bulk sector, the Capesize TRADERSHIP 176,000 dwt 2006 Namura built was reported sold to undisclosed buyers at $19 mln. As comparison, in March ARABELLA 177,000 2005 Namura built was sold at ...
https://www.hellenicshippingnews.com/large-bulk-carriers-in-demand/
https://www.hellenicshippingnews.com/large-bulk-carriers-in-demand/The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, dipped on Friday and posted a weekly loss on declining rates for panamax and supramax vessels. The main index, which monitors rates for capesize, panamax and supramax shipping vessels, lost 1 point, or 0.1%, to 1,340, to register ...
https://www.hellenicshippingnews.com/baltic-dry-index-logs-weekly-loss-on-weaker-panamax-supramax-rates/Nasdaq-listed Greek bulker owner United Maritime has increased its investment in a newbuild energy construction vessel (ECV) as it looks to diversify its earnings and risk exposure. The Stamatis Tsantanis-led spinoff of Seanergy Maritime said in its quarterly earnings report that it had injected additional capital into a Norwegian-based joint venture set up to design …
https://splash247.com/bulker-owner-united-maritime-bolsters-offshore-sector-exposure/
https://splash247.com/bulker-owner-united-maritime-bolsters-offshore-sector-exposure/BHP, Cargill and Rio Tinto, the founders of shipping vetting organisation RightShip, have employed Rothschild & Co to seek new investors. In a release, RightShip said its primary goal is to partner with an investor who brings not only capital but also significant expertise in data and technology and transformational growth. The three giant shippers …
https://splash247.com/bhp-cargill-and-rio-tinto-seek-new-investors-into-rightship/
https://splash247.com/bhp-cargill-and-rio-tinto-seek-new-investors-into-rightship/Mitsui O.S.K. Lines (MOL) has ordered a new LNG-fueled very large crude carrier (VLCC), which will sail under a long-term time charter contract with Idemitsu Tanker.The vessel will be the first dual-fuel VLCC to be chartered to a Japanese oil…
https://www.marinelink.com/news/mol-inks-longterm-time-charter-deal-526101
https://www.marinelink.com/news/mol-inks-longterm-time-charter-deal-526101