Oil companies cut investments by tens of billions of dollars
Faced with the coronavirus and the crude price collapse, oil and chemical companies are drastically scaling back capital investments to preserve cash. Most major companies have announced multibillion-dollar reductions. Shell will reduce its 2020 capital expenditure...Read more
WW reduces fleet and cancels dividend in COVID-19 response
PRESS RELEASE – Wallenius Wilhelmsen (WW) is taking “decisive action” in response to the coronavirus. The company will reduce its active fleet by sending 10 vessels into cold lay-up, scrapping another four vessels and possibly...Read more
BigLift delivers another three STS cranes in Savannah
BigLift has delivered another three Neo-Panamax ship-to-shore cranes to the Port of Savannah, bringing the port’s total number of cranes to 36, more than any other single terminal in North America. The new cranes are designed...Read more
Governments urged to facilitate crew change of 100,000 seafarers
The shipping industry has urged governments around the globe to facilitate the movement of seafarers to keep world trade moving. Every month, 100,000 seafarers need to be changed over from the ships which they operate...Read more
Jumbo: “Our ships continue sailing”
Following the Dutch measures to slow down the spread of the coronavirus, Jumbo Shipping has reported its ships have received the necessary instructions and, for now, continue their schedule. The company’s offices have been closed...Read more
Siemens Gamesa: “We will maintain manufacturing and installation operations”
While the coronavirus is reaping havoc and the oil price plunged below 30 dollars, Siemens Gamesa has provided a shred of good news in an otherwise disastrous week: the wind turbine manufacturer will be able...Read more
Industry lashes out over coronavirus-related seafarer treatment
The maritime industry is frustrated by the treatment of seafarers who are left stranded on board of their ships as a consequence of the coronavirus. Travel restrictions are hampering crew changes causing logistical difficulties and...Read more
Coronavirus forces organizers to postpone and cancel breakbulk events
The outbreak of the coronavirus is having a major impact on the transport and logistics industry but event planners are faced with tough decisions as well. An increasing number of breakbulk and project cargo events...Read more
Zeamarine Belgium also bites the dust
Following hot on the heels of the closure of two offices in Denmark, Zeamarine’s office in Antwerp has also been declared bankrupt. Six people have reportedly been sent home. The Business Court in Antwerp declared the...Read more
Charter rates start to slide as coronavirus spreads
The charter rates for multipurpose vessels are starting to slide as a result of lower demand caused by the coronavirus. The average day rate for a 12,500 dwt MPV/HL vessel dropped with nearly 200 dollars...Read more
Demand growth for multipurpose shipping wiped out by coronavirus
There’s little chance left that multipurpose and heavy-lift vessels will see any demand growth this year following the outbreak of the coronavirus. “Any anticipated recovery will not be sufficient to offset contractions of the first...Read more
Sunken harbour cranes brought to the surface in Rostock Port
The water-side salvage of the mobile harbour cranes that fell from heavy lift vessel Jumbo Vision in Rostock Port on January 31 has been completed. The first of the cranes was recovered on Saturday, the...Read more
Fuel prices take a massive nosedive
Fuel prices have taken a massive nosedive since the beginning of the year with low sulphur fuel prices in Singapore dropping from USD 734 per tonne on January 1st to USD 415 per tonne today. The...Read moreZeamarine closes offices in Denmark
Zeamarine is closing its operations in Denmark. The Danish subsidiary has filed for bankruptcy resulting in the closure of two offices and 23 employees being sent home, confirms local liquidator Hafnia Law. The German breakbulk carrier...Read more
Manager loses contact with general cargo vessel after pirate attack
Chinese vessel manager Tianjin Xinhai International Ship Management has lost contact with its general cargo vessel Huanghai Glory after the vessel sent a piracy alert using its Ship Security Alert System (SSAS). An unknown number of...Read more
Nirint Shipping adds two multipurpose vessels to its fleet
PRESS RELEASE – Dutch shipping company Nirint Shipping has expanded its fleet with two 17,000 dwt multipurpose vessels, the Augusta Luna and Augusta Star. They will replace two container vessels on the company’s Europe- Caribbean-Canada-Europe...Read more
Jumbo: “No evidence cranes came into contact in Rostock incident”
With the salvage operation of the Liebherr cranes that sunk in Rostock Port underway, the investigation into the cause of the accident is still ongoing. ‘Although a very complex matter, there is currently no evidence...Read more
Roll Group continues Asia expansion with own yard
Roll Group has signed a contract with Bintan Offshore Marine Center (BOMC) to help develop a large offshore centre on the Indonesian island Bintan, where the company will ultimately also create its own operations and...Read more