Iumi has mixed expectations for maritime insurance 
Sean Dalton, chairman of Iumi's (International Union of Marine Insurance) cargo committee, recently reported a 2.5% increase in 2018 global premiums to USD 16.6 billion. However, the rise was largely attributable to growth in global trade and exchange rate fluctuations.... more
Ship operating costs continue to fall
Ship operating costs are now in accelerating decline for the seventh year in succession, said the accountant and shipping consultant BDO. Total annual operating costs in the shipping industry fell by an average of 1.8% in 2018, compared to the 1.3% decline in 2017. All... more
Imports drive throughput in the port of Virginia
The port of Virginia (USA) handled cargo volumes of almost 95,000 teu in August. The overall increase of 5% when compared with the same period last year is mainly due to a rise in the number of loaded import containers moving through the port and a jump in the number of empty... more
Another round of mega carriers
The Taiwan-based carrier Evergreen Marine has changed its strategy. Instead of a broad chartering plan, the shipping line now ordered 23,000-teu ships from three separate shipyards at a cost of between USD 1.4 billion and USD 1.6 billion. Thus, the plan to charter up to 11... more
On the double: unloading and LNG-bunkering
In the Swedish port of Södertälje, located close to Stockholm, the world’s largest bunker supply vessel (BSV) for liquefied natural gas (LNG) “Kairos” conducted the first LNG bunker supply operation for the product tanker “Ternsund”, chartered by the Finnish fuel supply company... more
New Zealand's Napier port enhances equipment
Napier port, the third largest port on New Zealand’s North Island, is currently developing a sixth wharf which, at 350 m long, will be capable of handling the larger vessels that are expected to access the port in the near future. Already hosting a range of vessels,... more
Port of Long Beach enjoys a busy August 2019
This year, the port of Long Beach recorded the fifth-busiest August in its 108-year history. A total of almost 664,000 teu were handled during this month. Nevertheless, August 2018 was stronger (+2.3%). In August 2019, imports slid by 5.9% to 323,000 teu, while exports rose 4.5%... more
Calling at the port of Corpus Christi for the first time
Eagle Ford Terminals Corpus Christi, a joint venture of Plains All American Pipeline and Enterprise Products Partners L.P., recently docked its first vessel at its new dock on the Corpus Christi Ship Channel. The terminal consists of a vessel berth with a total depth of... more
Baltic Exchange introduces cost tracking tool
The Baltic Exchange, which is located in London (UK) and which belongs to the Singapore Exchange, has launched a new assessment tool to track the cost of operating vessels. Initially covering a range of dry bulk vessels, the service will also be expanded to tankers and other... more
Investing in LNG terminal in Colombia
The Dutch company Royal Vopak has just acquired 49% of the shares of the Sociedad Portuaria el Cayao (“Spec”) in Cartagena, Colombia. Spec is so far the only LNG import facility in Colombia and has been in operation since 2016. The facility consists of an LNG jetty, onshore... more