Readers’ Picks of the Week (Oct 6 -12)

Freight rates are likely to fall further as carriers stand firm in their reluctance to reduce capacity on the Asia-Europe and transpacific trades in the winter slack season, Alphaliner warned.…Read more

Tanker Scrapes Bottom off Durban

Eastern Pacific Shipping reported that an incident involving the vessel m.t. Pacific Quartz took place off Durban, South Africa on October 3, 2014. While proceeding into the port, with a port pilot on board, the vessel touched bottom in way of No. 6 starboard water ballast tank.…Read more

New Seafloor Map Reveals Mysteries of the Deep

Accessing two previously untapped streams of satellite data, scientists at Scripps Institution of Oceanography at UC San Diego and their colleagues have created a new map of the world’s seafloor, creating a much more vivid picture of the structures that make up the deepest, least-explored parts of the ocean.…Read more

Samsung Heavy Bags USD 440 Mln Order

South Korean shipbuilding giant Samsung Heavy Industries (SHI) has won an order amounting to USD 440 million for three Arctic Shuttle Tankers from a European shipper.…Read more

Shipping Industry Will Need USD 1.4 Trillion over Next Decade

Financing of the shipping industry is again on the agenda as new investments are needed to keep up with the upcoming fleet renovation drive and market growth.…Read more