Shipping and rising oil prices: US$90/barrel by 2020?

Rising oil prices and lower spot market rates dampen Q1 maritime margins
Vishnu Rajamanickam May 16, 2018

Shipping majors like Hyundai Merchant Marine, Yang Ming, and Hapag-Lloyd have released their Q1 earnings, reporting deficits in the quarter - as the maritime industry faces a steadily rising oil price and a spot market that had been weak for the initial few months of the year.

Salvors battle container ship fire

Salvors battle container ship fire
Peter Barker 15 May 2018 http://www.maritimejournal.com/news101/tugs,-towing-and-salvage/salvors-...

Global salvage specialists Ardent and Smit Salvage are engaged in a major salvage operation following a container ship fire in the Arabian Sea.

Cargo ship sinks in Taiwan Strait, 6 missing

6 missing after ship sinks in China
Xinhua| 2018-05-16 http://www.xinhuanet.com/english/2018-05/16/c_137183939.htm

FUZHOU, May 16 (Xinhua) -- Six people went missing after a cargo ship sank in sea area off east China's Fujian Province, local authorities said Wednesday.

Early Wednesday morning, 11 crew members aboard the cargo ship fell into the water 1.8 nautical miles off the coast of Tangyu Island of Fuzhou City.

Maritime labor groups wade into Panama Canal safety dispute

Maritime labor groups wade into Panama Canal safety dispute
Kirk Moore May 13, 2018 https://www.workboat.com/news/bluewater/maritime-labor-groups-wade-into-...

U.S. and international maritime labor groups are protesting a move by the Panama Canal Authority to discipline 22 canal tugboat captains who complained that short staffing has increased danger to crews.

Russia may charge crew of detained Ukrainian shipping vessel with terrorism – media

Russia may charge crew of detained Ukrainian shipping vessel with terrorism – media
14 May 2018 https://www.unian.info/politics/10115402-russia-may-charge-crew-of-detai...

Slobodyan explained that the Russian government is now trying to make the crew criminally responsible for anything from terrorism to arms smuggling.

One more Hapag-Lloyd’s container ship troubled in harbor, this time in Egypt

One more Hapag-Lloyd’s container ship troubled in harbor, this time in Egypt
STEPAN KOTCHERGA May 13, 2018 https://maritimebulletin.net/2018/05/13/one-more-hapag-lloyds-container-...

Late arrivals common occurrence for container ships at Port of Charleston, elsewhere

Late arrivals common occurrence for container ships at Port of Charleston, elsewhere
15/05/2018 https://www.hellenicshippingnews.com/late-arrivals-common-occurrence-for...

Container ships are more frequently arriving late at the Port of Charleston and other seaports, according to a new report from SeaIntel Maritime Analysis.

The US Merchant Marine Fleet Is Dying — And It May Hurt America’s Ability To Wage War Abroad

The US Merchant Marine Fleet Is Dying — And It May Hurt America’s Ability To Wage War Abroad
Tim Johnson, McClatchy May 15, 2018 https://taskandpurpose.com/us-mercant-marine-fleet-military/

The once-mighty U.S. Merchant Marine fleet has nearly collapsed under the weight of high labor costs, zigzagging federal policies and intense competition from abroad, damaging America’s position as the only country in the world able to supply and sustain a long-distance war.

Filipino seaman lost in fishing vessel mishap

Filipino seaman lost in fishing vessel mishap
WILLIAM DEPASUPIL May 15, 2018 http://www.manilatimes.net/filipino-seaman-lost-in-fishing-vessel-mishap...

A Filipino seaman on board a Taiwanese fishing vessel has gone missing after he was swept overboard into the sea by big waves during a stormy night in the Indian Ocean.

Maersk tankers, Torm refuse new Iran business: industry officials

Maersk tankers, Torm refuse new Iran business: industry officials
14 May 2018 https://www.platts.com/latest-news/shipping/singapore/maersk-tankers-tor...

As the countdown begins for the restoration of US sanctions on Iran, many shipping companies such as Maersk Tankers and Torm are already refusing to commit to fresh Iranian business, fearing complications relating to processing of freight and insurance related payments, sources said Monday.

Pages

Subscribe to seafarertimes.com RSS