The recent actions of the Indian government, to limit domestic shipbuilding activities to Indian yards, and also to favour the state-run Cochin Shipyard in awarding contracts for small craft and passenger vessels, have resulted in substantial heartburn in both a Sri Lankan shipyard and a small Indian yard located Goa.
A New York Maritime (NYMAR) with the breakfast wrap-up event to Marine Money 2019 coming two days after the Global Maritime Forum’s high profile launch of the Poseidon Principles meant the importance of ESG investing (Environment, Social and Governance), as well as alternative finance and consolidation.
John Fredriksen’s Frontline has boosted its tanker fleet with an acquisition of a VLCC resale and an order for two LR2 ships.
A latest Shipping Confidence Survey has shown a dip in confidence in the shipping industry over the past three months, and the survey respondents have forecast higher freight rates for the container and tanker shipping segments.
Why should seafarers be constantly put in harm’s way, from pirates, hostile officials in ports that nobody ought to visit, and now as collateral damage as the threat of war breaks out in the Middle East? The answer is, as it has always been, that they have no choice in these matters and have to go where their ship takes them, or lose their jobs.
The Capesize market was hit by lower shipping activities due to European holidays and fewer iron ore cargoes coming out of western Australia.
Shipping industry organisations have condemned the attacks on two tankers on the Gulf of Oman on Thursday and expressed concern over the global economic impact of a threat to maritime traffic in the Straits of Hormuz.
Bimco has urged nations to co-operate and de-escalate tensions after two tankers were attacked in the Gulf of Oman this morning forcing their crew to abandon ship.