Charter rates soar as supertankers drafted in to solve oil glut

Charter rates: In normal times a collapse in oil prices may have seriously negative implications for…

Chabahar set to take on Gwadar in fight for traffic on South Asian sea route

The prospect of a new strategic sea route connecting Iran, India and Afghanistan  came one step…

Khalifa joins Maritime Silk Road as concerns grow over Beijing’s influence

The UAE’s Khalifa Port is  set to become the latest link in China’s  21st Century Maritime…

Yamal paves way for Northern Sea Route

The development of Russia’s $27bn Yamal LNG  plant some 600 kilometres north of the Arctic Circle…

Belt and Road gets own shipping index

After a two-year trial the Shanghai Shipping Exchange (SSE) yesterday officially launched a series of indices…

Petya hits global supply chain

Operations at one of the terminals at India’s largest container port JNPT have been disrupted by…

Malaysia looks to Strait of Malacca for slice of Maritime Silk Route action

The Malaysian government is looking for  investors to back its plans to develop a giant new…

Evraz considers offers for Nakhodka Sea Port in effort to reduce debts

In an attempt to reduce its mounting debts, the Russian steel and mining conglomerate EVRAZ has…

Swiss win Aprin dry port contract as Iran’s non-oil exports boom

Aprin dry port: The Swiss-based  transport and logistics multinational Transinvest Holdings has signed a 25-year contract with…

Bosphorus Strait reopens as Turkey rushes to reassure investors

Turkish maritime authorities have reopened Istanbul’s Bosphorus Strait to transiting tankers after shutting it for several…

Bashneft and Sovcomflot added to Russian privatisation programme as Alrosa sale nets Kremlin $816m

Russian privatisation programme: The state-run Bashneft (oil) and Sovcomflot (shipping) companies could be put up for…

COSCO restructures to create world’s largest oil and LNG tanker fleet

COSCO restructures: China’s COSCO  shipping company  this week merged China Shipping Development Co and the  COSCO…

Sime Darby to float Weifang Port

The Malaysian-based  Sime Darby multinational conglomerate this week announced its intention to float Shandong Province’s Weifang Port…

India and Iran sign off on $500m Chabahar port development

India and Iran this week formally signed the long-anticipated  contract for the development of  Chabahar port in…

Shipping industry downturn pushes Cosco into red

Chinese shipping giant Cosco this week reported a net loss of $0.7bn for the first quarter of the…

29 Indian coastal economic zones expected to boost exports by $110bn

Indian coastal economic zones: The  Indian government today announced plans to set up 29 port-based coastal industrial…

China eyes up Northwest Passage in threat to Canadian sovereignty

China has declared that it plans to ship cargo through the Northwest Passage, the series of…

East-West ocean freight rates down 20% with more cuts on horizon

Year-on-year Ocean freight rates for cargo moving under contracts on major East-West trade routes dropped by…

Port of Tianjin expecting 20% rise in traffic thanks to FTZ status

The north-east Chinese port of Tianjin – the world’s fourth largest – expects cargo volumes to…

Greek dockworkers take to streets as COSCO seals Piraeus privatisation deal

Piraeus privatisation: Greek dockworkers marched into central Athens in protest yesterday after the Greek government sealed…

President Aliyev gives Baku FTZ the OK

Baku FTZ: Azerbaijan’s President Ilham  Aliyev last week signed a decree paving the way for the establishment of a…

Number of idle container ships hits all-time high

The number of idle container ships languishing empty around the world has reached an all-time high as supply…

IRISL and PWL in talks over new German Iranian shipping JV

Islamic Republic of Iran Shipping Lines (IRISL) and Germany’s PWL Group have signed an MoU that opens…

Few takers for Northern Sea Route as shippers stick to what they know

Only 18 ships made use of the Northern Sea Route last year, with analysts suggesting that shipping…