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India: Local shipbuilders to get back subsidy they lost eight years ago

The government is set to re-introduce a new subsidy scheme for local shipbuilders, eight years after an earlier scheme ended, hoping that the support will help shipyards better compete with global shipbuilders for orders amid a prolonged downturn in the shipping industry.

The subsidy scheme is part of a shipbuilding policy package to be considered by […]

By |September 1st, 2015|Latest News, Local News, Ship Building|0 Comments

Shipping queue for Australia’s Newcastle coal exports at 13-month low

Twenty one ships are set to load coal export cargoes at Australia’s port of Newcastle this week, down from 34 a week ago and the lowest weekly number for 13 months, the Port Authority of New South Wales said Monday.

“There are 21 vessels with a notified arrival time allocated and in transit,” said the port […]

By |September 1st, 2015|Latest News, Port News, Shipping News|0 Comments

Star Bulk hit by $105.2m first half loss on impairment charges

Star Bulk Carriers has been hit by much wider losses due mainly to impairment charges and operating expenses, leading to a first half loss of $105.2m.

The first half net loss widened to $105.2m compared to the loss of $3.87m in the same period of last year.

Operating loss in the first six months escalated to $90.71m […]

By |September 1st, 2015|Latest News, Shipping News|0 Comments

Asian imports of Iran oil fall slightly in July

Asian imports of Iranian oil fell slightly from a year ago in July following a landmark agreement on Tehran’s disputed nuclear programme that may pave the way for an increase in crude exports as early as next year. Imports by Iran’s four biggest buyers – China, India, Japan and South Korea – totalled just over […]

By |September 1st, 2015|Latest News, Shipping News|0 Comments

Russia’s Fesco’s first half container volume declines 28pc to 174,570 TEU

RUSSIA’s Fesco, a major intermodal transport concern, declared that its port division suffered a 28 per cent decline in first half year-on-year container throughput to 174,570 TEU while general cargo volumes fell 17.2 per cent to 1.05 million tonnes.

Fesco, with its ports, rail, integrated logistics and shipping business, blamed the disappointing performance on “negative market […]

By |September 1st, 2015|Latest News, Shipping News|0 Comments

Manzanillo International Terminal-Panama Receives Four STS for Expansion

Panama’s President Juan Carlos Varela with the Panama Maritime Authority Administrator and Minister of Maritime Affairs Jorge Barakat  and Stanley Motta, member of MIT’s board of directors, came to MIT located on the Atlantic entrance of the Panama Canal, for a short ceremony and to visit the terminal installations. President Varela was welcomed by MIT […]

By |September 1st, 2015|Latest News, Port News|0 Comments

LNG carrier Echigo Maru heads south as Kyushu Electric’s tanks full: sources

LNG carrier Echigo Maru, which was set to deliver a cargo from Indonesia’s Bontang facility to Japan’s Kyushu Electric, is heading south after idling around Japan as the utility has limited tank space to receive the cargo, market sources said Monday.

The vessel loaded the cargo from Bontang, Indonesia, on August 15 and had Oita, Kyushu, […]

By |September 1st, 2015|Energy News, General News, Latest News|0 Comments

CaroTrans Enhances Direct India-U.S. Import Service Network

CaroTrans, a leading global NVOCC (non-vessel operating common carrier) and ocean freight consolidator, today announces a new, direct LCL (less-than container load) import service from Nhava Sheva, India to Charleston, South Carolina for expedited delivery to the U.S. South Atlantic and Gulf regions.  This weekly, all-water service has a 25 day transit and offers a […]

By |September 1st, 2015|Latest News, Local News, Shipping News|0 Comments

Iron ore eyes monthly gain, but soft China steel to weigh

Spot iron ore prices are set to end August higher, supported by lean inventory at Chinese mills and a recovery in futures markets, although expectations of increased supply later in the year may cap upside potential. Inventory of imported iron ore at major Chinese ports fell to 80.45 million tonnes as of Aug. 28, the […]

By |September 1st, 2015|General News, Latest News|0 Comments

South Korea may hike Iran oil imports once sanctions lifted – official

South Korea will consider increasing its imports of Iranian crude oil and condensate when sanctions on Tehran are lifted, a senior government official said on Monday.

Woo Tae-hee, deputy minister for trade, who was part of a recent South Korean delegation to Iran seeking possible deals in the oil, gas and construction sectors noted there had […]

By |September 1st, 2015|General News, Latest News|0 Comments