SCI and Seven Islands Shipping re-join membership of INSA
MUMBAI : State-owned Shipping Corporation of India Ltd (SCI), India’s biggest ocean carrier by capacity and Seven Islands Shipping Ltd, the country’s second biggest private oil tanker shipping company, have re-joined the membership of the shipping industryEurope to Asia reefer rates falls
OSLO : Freight rates on the Europe to Asia trades have begun to follow the wider container market down after a period of resistance. According to a market update from freight rate benchmarking firm
Dry Bulk Market Under Pressure in Early 2023
GREECE : The dry bulk market has faced increasing headwinds in these early weeks of 2023. In its latest weekly report, shipbroker Intermodal said that “during the last weeks, the BDI has lost significant
Maersk and MSC dissolve 2M Alliance
The two major container liners have agreed to terminate their current partnership effective January 2025 COPENHAGEN/GENEVA : Maersk and MSC have agreed to terminate the 2M alliance from January 2025. Markets have changed substantially
Hapag-Lloyd acquires share in J M Baxi Ports & Logistics Limited
HAMBURG : Hapag-Lloyd signed a binding agreement under which it will acquire 35 % of J M Baxi Ports & Logistics Limited (JMBPL) from a Bain Capital Private Equity affiliate. Additionally, Hapag-Lloyd AG signed
Hong Kong flagged cargo ship JIN TIAN sinks off Nagasaki Japan, rescue operation on
TOKYO : In the freezing cold and windy atmosphere coast guard vessels of two countries Japan and South Korea were battling in the Pacific ocean, in severe weather conditions, to rescue crew members of
Baltic Dry Index slides as iron ore shipments kick off 2023 with 13.1% drop
DENMARK : Despite hopes that a quick economic recovery in China would boost iron ore demand, 2023 has so far been a disappointment for the dry bulk shipping sector. During the first three weeks
More than 80% of box and bulk ships to fall in lowest CII ratings – GMS
DUBAI : Dr Anil Sharma, founder and CEO of Global Marketing Systems Inc (GMS), is forecasting a significant increase in the number of container ships and bulk carriers heading for recycling yards as result