11 JAN 2022 A South Korean containership was forced to turn around in the Pacific and seek a port of refuge after reportedly suffering an engine problem that is being blamed on a fuel problem. SM Line’s SM Busan, a 6622 TEU containership, arrived in Victoria, Canada where officials are reporting …
Read More »
10 JAN 2022 By Gerson Freitas Jr, Sergio Chapa and Natalia Kniazhevich (Bloomberg) — U.S. natural gas is in for another wild year as the insularity that once shielded North American energy consumers from overseas turmoil disintegrates. Benchmark American gas futures climbed almost 45% in 2021 for the strongest annual performance …
Read More »With 2021 coming to a close, here’s a list of most-viewed stories of the year: Maersk Containership Broken Down in the Pacific Ocean Vanishing Ships Underscore Supply Woe: Crisis Peak Is a Mirage Dear Port of Los Angeles, It’s Time to Call the Marines Shipowner Declares General Average for Ever …
Read More »
09 JAN 2022 China has taken the number-one spot in shipbuilding, overtaking South Korea for annual order volume by compensated gross tons (CGT), according to data released Sunday by Clarksons. Over the span of the year, China’s shipbuilders raked in orders totaling about 22.8 million CGT, almost exactly 50 percent …
Read More »
07 JAN 2022 An energy-saving device attached to the propeller of ships developed by MOL three and half decades ago has entered the Guinness World Records as a global best-seller. Japan’s Mitsui O.S.K. Lines (MOL) announced that propeller boss cap fins (PBCF) sold by its subsidiary MOL Tech has been …
Read More »
06 JAN 2022 Economic growth is the aim of many policies. Still, economic growth is also the ultimate cause of pollution and climate change. A growing consensus of activists and scientists calls for ending economic growth and even “de-growth” in rich countries – pointing to the urgent need to protect …
Read More »
05 JAN 2022 Indonesia has cut off all exports of thermal coal for the month of January, reducing ton-mile demand for the dry bulk sector – and limiting the list of sources for China’s coal import needs. The policy measure is intended to address a coal shortfall on Indonesia’s …
Read More »
04 JAN 2022 Evergreen Marine Corp (EMC), the Taiwanese ocean carrier, is reportedly handing out generous annual bonuses after a great year for the company’s finances. Some employees are reportedly receiving a princely sum equal to 40 months’ salary. Buoyed by a surge in container freight rates, shipping companies witnessed …
Read More »04 JAN 2022 US officials regularly present China as an aggressive and expansionist military power while Chinese state sources criticize the United States in similar terms. The verbal sparring has only increased concern about the prospect of a future war between China and the United States, with Australia as a likely participant on the …
Read More »
03 JAN 2022 What is it? VV’s automated Position List allows users to see which vessels are available to pick up cargo at any global location with the click of a button. The service complements the traditional position list through providing an alternative and instant, objective and data driven view …
Read More »