British armed forces forcibly boarded and regained control of an oil tanker Nave Andromeda in the English Channel on Sunday evening following a suspected hijacking, according to the UK defense ministry. It sounded dramatic and the media ramped it. The essential ingredients were all in the mix – shady foreign hijackers (surely terrorists if not…
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Shipping is being dealing with a double-edged sword lately, as it is faced with stringer environmental measures around the world, while also having to cope with a slowdown in seaborne trade, which is having an adverse effect on revenues. In fact, it is estimated that the industry’s freight rates won’t rebound for the next 12…
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We have got only one life to live. Nothing can stop a smoker quit but himself. These kind of Ads are very impactful. www.shipdiary.com…
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The captain of a Portuguese cargo ship has been arrested after colliding with a Greek warship on Tuesday. The Greek Ministry of Merchant Navy said that the Polish captain of the Maersk Launceston had been detained after being questioned by port authorities. The suspect has been accused of “shipwreck caused by negligence”. The incident took…
MoreThe Cape Town Agreement will also be a key tool in combating illegal, unregulated and unreported (IUU) fishing, which is an issue of concern for several countries. Source: www.imo.org www.shipdiary.com…
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Two crew of a Malaysian offshore support vessel died on Tuesday after their ship hit a rig operated by state oil firm Petronas off the state of Sarawak on Borneo island. The Dayang Topaz rammed into the Baram B oil platform after its anchor cable broke in bad weather, Petronas and marine authorities said in…
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Ships’ recycling has taken a turn in favor of ship owners, as scarce tonnage has forced yards to compete for tonnage, leading to higher prices. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “a new week but unfortunately this did not relate to a fresh deluge of tonnage for Buyers to ingrain…
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Shipping finance transactions are characterized by peculiar risk factors principally on account of the shipping asset’s transient operations. The applicable rules and mercantile usages – reflective of this reality themselves – must therefore be adequately factored into financiers’ lending procedures and loan recovery strategies, whether they be banks or private investors. This article offers helpful…
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Officer availability varies significantly by nationality and rank, with important implications for recruitment, retention, and wage rates, particularly in light of tightening labor market conditions. Earlier in the year, Drewry projected that the current officer shortfall to crew the global merchant fleet would widen, despite the dampening effect of Covid-19, due to the reduced attractiveness…
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