Ocean freight rates in rough waters on congestion, Red Sea crisis
LONDON : Indian traders are reeling under the impact of rising ocean freight rates, triggered by the Red Sea crisis and congestion at several key ports in the
Dry Bulk Market move higher last week, but Capesizes lost ground
LONDON : Dry Bulk Market move higher last week, but Capesizes lost ground, according to latest report released by Baltic Exchange. Capesize The Capesize’s had a slow start
US Naval forces rescue crew from Greek-owned ship struck by Houthis in Red Sea
WASHINGTON D.C. : The U.S. Naval Forces Central Command (NAVCENT) said on Sunday that it had rescued the crew from the Liberian-flagged, Greek-owned bulk carrier MV Tutor that
SCI set to open subsidiary in IFSC, GIFT City
MUMBAI : Shipping Corporation of India (SCI) is set to open a wholly-owned subsidiary in IFSC, Gift City, in Gandhinagar, Gujarat. It has received a nod from Niti
Singapore Port container logjam worsens as ships avoid Red Sea
SINGAPORE : Singapore’s port, already one of the busiest in the world, is facing a sustained period of congestion as vessel diversions to avoid the Red Sea push
Leverage GIFT City for Shipping
GANDHINAGAR : Considering India’s burgeoning import of transport services, which touched a whopping $109 billion in 2022, there is a proposal to form a new shipping company having
OOCL celebrates maiden voyage of two new mega vessels
SINGAPORE : Orient Overseas Container Line (OOCL) is celebrating the maiden voyage of its latest two 24,188 TEU mega vessels, “OOCL Finland” and “OOCL Sweden.” With these additions,
Strategic Marine enters into MoU with Mainprize Offshore for six New Supa Swath Vessels, with option
SINGAPORE : Following the recent successful delivery of two Supa Swath Vessels to the established UK based operator Mainprize Offshore, Strategic Marine is proud to announce to have entered into
MSC reinstates Mustang Service between Asia to USWC
GENEVA : MSC is pleased to announce the reinstatement of its Mustang service as of week 28 for departure in Asia. The Mustang service will provide increased capacity
Newbuilding prices climb 3% to highest level in 16 years : BIMCO
LONDON : “Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2020