Australian iron ore fixtures wake up sleepy spot market for capesizes
Average spot rates rose by almost 8% on Thursday
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September 2024
MOL pumps cash into producer of green fuels made using renewable power
Japanese shipping giant adds to portfolio of green technology investments
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Red Sea Insurance Costs Skyrocket Amid Rising Houthi Shipping Threats
The cost of insuring a ship through the Red Sea has more than doubled since the start of September and some underwriters are pausing cover as the risk of attack from Yemen’s Houthis on commercial vessels increases, industry sources said.The…
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Gulf LNG Tugs Orders Four New Vessels to Serve Port Arthur LNG Export Facility
Gulf LNG Tugs of Port Arthur on Thursday announced it has placed orders for four new escort tugs to serve the Port Arthur LNG export facility in Texas. Two will be constructed by Master Boat Builders in Coden, Ala., and two by Sterling Shipyard in Port…
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Fairbanks Morse Defense to Acquire Rolls-Royce Naval Propulsors & Handling Business
Fairbanks Morse Defense (FMD) on Thursday announced it has struck a deal with Rolls-Royce to acquire its naval propulsors and handling business. The acquisition will include a range of propellers and waterjets for naval applications, as well as marine …
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