Very large crude carrier (VLCC) newbuildings have dominated the tanker ordering space in the first four months of 2021 with 32 units of 9.6mdwt, Simpson Spence Young (SSY) said. But newbuilding prices, which have steadily risen since the last quarter of last year, could stem the order flow, the world’s largest independent shipbroker added, as per Trade Winds. A very large crude
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The UK Club, one of the oldest Protection and Indemnity (P&I) clubs in the world and the Ever Given’s insurer rejected a new, lower damages claim from Egypt. The Suez Canal Authority (SCA) was seeking $916 million for the blockage of the Suez Canal, then dropped it to $600 million but the London-based insurance entity said Egypt’s reduced compensation claim was still
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NYSE-listed Navios Maritime Partners L.P., an international owner and operator of dry cargo vessels, on April 29 reported its financial results for the first quarter ended 2021. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Partners stated: “I am pleased with the results for the first quarter of 2021. During the first quarter, total revenue of Navios Partners and Navios Containers,
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March was an extremely positive month for the operations of the Container Terminal of the Port of Paranagua, Brazil´s largest port for grains. Last month, 95,633 TEUs (Twenty-foot container units) were imported and exported. The figure represents growth of 24% compared to the same month of 2020 (72,791 TEUs) and was mainly driven by the movement of refrigerated containers, with 16,475 TEUs
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The Covid-19 crisis has not dented Greek shipowners’ appetite for investments, as they have spent $1.44 billion purchasing 98 vessels since January 1, ahead of Chinese interests who have bought 78 ships for $871.3 million, according data compiled by London-based Greek Shipping Cooperation Committee (GSCC). Over the past 12 months, the Greek-controlled fleet has increased in terms of number of vessels over
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The project Flagships is expected to deploy what is considered to be the world’s first commercial cargo vessel that operates on hydrogen. The ship will begin commercial operations in 2021, operating on compressed hydrogen produced from electrolysis. The hydrogen cargo transport vessel will be owned by French inland shipowner Compagnie Fluvial de Transport (CFT), a subsidiary of the Sogestran Group. The company
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The International Chamber of Shipping (ICS) has released a statement on the ongoing blockage of the Suez Canal by the ship Ever Given, noting that the incident lays bare the fragility of global supply chains. Guy Platten, secretary general of the ICS, said: “This kind of incident is rare, and it is a relief to see that no crew were injured and
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