Tanker trades appear to be rather vulnerable to the different rates of economic recovery around the world, which has led to major swings of oil product demand. According to the latest weekly report by Poten&Partners, "the“three speed” recovery – a phrase of choice of the IMF – refers to varying rates of economic
The freight rate war currently taking place between Asia and europe, and between Asia and the US, and the further addition of new ships, will force carriers to resort to more slow steaming.Although slow steaming continues to be a contentious issue with shippers, more is on the way as fuel prices remain stubbornly high and ocean carriers can no longer absorb the bill due to the
Hellas canbecome China's gateway into europe as well as the opposite said Prime Minister
Antonis Samaras, speaking last night on the occasion of the Mechant Navy's Day
and the european Day of Sea. The event was organized by the Union of Greek
Shipowners and the Hellenic Chamber of Shipping.
Tug Fairmount Sherpa has safely delivered rig GSF Arctic I in Las Palmas. The rig has been towed from offshore Rio de Janeiro, Brazil, to Las Palmas de Gran Canaria, Spain. GSF Arctic I is a semi-submersible drilling rig for deepwater operations, owned by Houston based Transocean.