The Baltic Exchanges main sea freight index recorded its biggest ever daily percentage jump on Wednesday, propelled by surging capesize rates due to a spike in iron-ore shipments. The Baltic dry index, which tracks rates for ships ferrying

On June 11, CNOOC Limited announced that Qinhuangdao 33-1S oilfield phase I project has commenced production. Qinhuangdao 33-1S oilfield is located in central and western Bohai with an average water depth of 21 meters. The project has built

To assist seafarers and their mental wellbeing in coping with the challenges imposed by COVID-19 pandemic, BIMCO compiles a list of useful resources to enable seafarers to seek free, immediate and direct help. Members are highly recommended

On June 16, Ministry of Transport issued a news release, announcing the following: Newly added transportation capacity and recommended ship types in 2020 In order to deepen the adjustment of transport capacity structure and guarantee the tr

COSCO SHIPPING Energy Transportation announced that its wholly-owned subsidiary, COSCO SHIPPING Tanker (Dalian), sold its 70% stake in Shenzhen COSCO Longpeng Liquefied Natural Gas Transportation with COSCO SHIPPING Investment Dalian for RM

1. International Transport Works Federation (ITF) issued a statement to seafarers saying simply, Enough is enough. 2.State-run Zhejiang Shipping Group has issued an tender seeking shipyards to construct two 51,000 dwt supramax carriers. 3.I

Maersk will begin implementation of an innovation called Snap Back Arrestor (SBA) ropes on the mooring lines used to hold vessels in place while docked in port for loading and unloading. Mooring is one of the most dangerous aspects of port

After weeks of calling on governments to facilitate maritime crew changes and designate the millions of workers in critical transport industries as key workers, the International Transport Works Federation (ITF) issued a statement to seafar

The West of England PI Club said yesterday (16 June) it will acquire a significant stake in fledgling marine cyber insurance provider, Astaara Company Limited, based in London. West of England managers described Astaara as a company focused

There has been a massive 400% increase in attempted hacks on commercial shipping since February 2020, Israeli cybersecurity specialist, Naval Dome claimed earlier this month. The hacking onslaught began as the maritime industry turned to gr

Chinas oil majors are planning ahead in Hainan province as they believe the package of preferential policies to build the area into a globally influential and high-quality free trade port will drive up local oil and gas demand. Hainan Oil R

International ship manager Bernhard Schulte Shipmanagement (BSM) and the Cyprus Marine and Maritime Institute (CMMI) have signed an MoU to launch a game-changing initiative named True North 72 aiming to encourage innovation across themariti

On June 11, China had its first lighthouse weather observation station, which was installed at the Jiujiejiao lighthouse on the main channel of Xiamen Port in Fujian Province. Xiamen port is the 14th largest container port in the world, but

1.China is expected to lead with 25% capacity share in the global liquefied natural gas (LNG) regasification industry from new-build (planned and announced) projects between 2020 and 2024. 2.News that the Governments bill to provide tax inc

News that the Governments bill to provide tax incentives for ship lessors has been passed by the Legislative Council is set to provide another boost to Hong Kongs maritime centre credentials. The amendment to the Inland Revenue Ordinance wi