Ships beached for scrap as returns reach record low

Mar 13, 2015

Ships beached for scrap as returns reach record low

by Naomi Christie

Scrap yards are preparing for record numbers of freighters as shipping rates tumble to all-time lows. Owners may demolish 40 million deadweight tons of dry bulk carriers, more than double last year’s total, according to Arctic Securities ASA in Oslo. Rates to ship commodities ...

Feb 21, 2015

Tentative West Coast port deal reached

Negotiators reached a tentative contract covering West Coast dockworkers on Friday evening, likely ending a protracted labor dispute that snarled international trade at seaports handling about $1 trillion worth of cargo annually. The breakthrough came after nine months of negotiations that turned contentious in ...

Southeast Asia now biggest global danger zone for piracy: U.N.

Jun 13, 2014

Southeast Asia now biggest global danger zone for piracy: U.N.

Southeast Asia has overtaken the Horn of Africa as the world’s hot spot for pirate attacks after concerted international efforts to police the waters off Somalia, the U.N. said Thursday. Last year 28 boats were attacked in the western Indian Ocean but none taken ...

Jan 9, 2014

FTC accuses five auto-carrying shipping firms of price-fixing

The Fair Trade Commission plans to fine five shipping firms a total of some ¥22 billion for fixing fares on shipments of vehicles for export, sources said Thursday. The antitrust regulator has already started notifying the carriers, including industry leaders Mitsui O.S.K. Lines Ltd., ...

Icebreaker signals China poles goals

| Jan 8, 2014

Icebreaker signals China poles goals

A Chinese research vessel’s escape from pack ice after evacuating 52 people from a Russian ship trapped in Antarctica has shone a spotlight on the Asian power’s growing polar ambitions at both ends of the Earth. In the Arctic, China’s strategic goals include the ...