The VLCC tanker market should retain its positive momentum as the year draws to a close and even more so in 2023. In its latest weekly report, shipbroker Gibson said that “VLCC earnings have been remarkably strong over the past few months despite the p…
Capesize Activity in the Capesize market had the 5TC pushing in value over a few days in midweek. However, pessimism prevailed as the rates dropped down to close the week -895, settling at $12,807. Some chatter in the market expects an improvement in r…
Dry Bulk Market: Pessimism Still the Norm Read More »
Ocean carriers on the Asia to West Coast trade are fast approaching the point where they will lose money on every container they haul as plummeting spot rates sink near pre-pandemic levels and bump up against a new break-even level driven by falling vo…
Carriers pivot on the fly as Asia-US spot rates plummet Read More »
An oil supertanker accused by Nigerian authorities of attempting to illegally load crude before leaving its territorial waters is on its way back to the country, a Nigerian Navy spokesman told Reuters on Friday.At the request of Nigerian authorities…
Detained Oil Tanker in Equatorial Guinea to Return to Nigeria Read More »
The U.S. Department of Transportation and the Maritime Administration announced the appointment of Rear Admiral Joanna M. Nunan (U.S. Coast Guard, Ret.) as the next superintendent of the U.S. Merchant Marine Academy (USMMA). Nunan, who spent more than …
Rear Adm Nunan First Woman Appointed USMMA Superintendent Read More »