Strong crude oil import growth from China during 2023, offered additional support to the tanker market. In its latest weekly report, shipbroker Banchero Costa said that “2023 has been another positive period for crude oil trade, despite the high oil pr…
Tanker Market: China Accounted for 23.6% of Global Crude Trade in 2023 Read More »
Values for Bulkers have been going from strength to strength this year, up across all ages and size categories. Notably the Capesize and Supramax sectors have seen some dramatic increases, for example in the Capesize sector, values for 20YO vessels of …
“Houthi attacks on ships in the Red Sea, coupled with a rise in piracy off the coast of Somalia, are disrupting global trade. In 2023 an estimated 13% of global seaborne trade transited through these areas. However, the attacks have reduced the number …
13% of world seaborne trade under attack from Houthis and Somali pirates Read More »
Derecktor Shipyards New York is building a pair of hybrid ferries for Savannah, Ga. based Chatham Area Transit (CAT). Delivery is expected in 2024.The two 65-foot-long, 50-passenger ferries will be equipped with an electric propulsion package from BAE …
Derecktor Building Hybrid Ferries for Chatham Area Transit Read More »
The United States’ Secretary of the Navy, Carlos Del Toro, on Monday hosted executives from major ship repair companies at the Pentagon for a roundtable discussion focused on surface ship repair and modernization initiatives.Navy and Marine…
US Navy Secretary Meets with Ship Repair Execs Read More »