Freight

Feb 24 - Non-OPEC Oil Cutback Compliance "at Least 60%", While US Exports Continue at Record Highs
One analysts says OPEC "have to be concerned with U.S. oil producers eating into their market share."

Feb 24 - Barge glut chokes U.S. shipping sector despite record harvest

A glut of idled river barges is clogging Mississippi River shorelines from St. Louis to New Orleans, leaving U.S. barge companies that haul grain, coal and other bulk goods counting their losses. Even with record-large exports of corn and soybeans, typically a boon for shippers that haul grain to Gulf Coast export terminals, the collapse of coal shipments to the lowest levels in decades has left the dry bulk barge fleet chasing too little cargo. Click here to read full stories.

Feb 23 - Mississippi ports eye Cuba, sign agreements in Havana 

The Mississippi ports of Pascagoula and Gulfport signed agreements in Cuba on Monday with an eye to future business and with a Republican U.S. senator from the state looking on, despite concerns President Donald Trump might backtrack on improved relations. Senator Thad Cochran is the only Republican among five U.S. senators and a U.S. representative on a three-day visit to the Communist-run Caribbean island to discuss relations and explore business opportunities. Click here to read full stories.

Feb 23 - Egypt's Suez Canal revenues fall to $395.2 million in January - website 

Egypt's Suez Canal revenues fell to $395.2 million in January from $414.4 million the previous month, according to a government information website. The canal is the fastest shipping route between Europe and Asia and one of the Egyptian government's main sources of foreign currency. Egypt has been struggling to revive its economy since a 2011 uprising scared away tourists and foreign investors, key earners of hard currency. Click here to read full stories.

Feb 23 - Spanish dockers call nine-day strike over non-union labour 

Spanish dock workers have called nine days of strikes to protest government plans to allow ports to hire non-unionised labour, El Pais newspaper reported on Tuesday, threatening to disrupt trade for up to three weeks from March 6. Dockers last week called off a planned three-day strike after the government said it would put its reforms on hold and open talks, but the decision to push ahead with a bigger strike came after the government signalled it would not change parts of the plan, El Pais said, citing the CETM union. Click here to read full stories.

Feb 23 - Are Compliance Officers the Next "Must Have" for the Bunker Industry?
"What we are seeing from bunker buyers is they want to make sure they are dealing with a compliant counterparty," Monjasa's Thorstein Andreasen tells Ship & Bunker


Feb 22 -  OPEC: Anything Less Than 100 Percent Compliance in Oil Cutback Deal Is Not Satisfactory
But the key question is how long the deal will be in place, with ABN Amro Bank warning a failure to extend it could send oil back into the $30's.

Feb 22 - Hanjin bankruptcy leaves behind massive debt trail (AlphaLiner)
- Hanjin Shipping’s 40-year history came to an end on 17 February 2017 when the company was officially declared bankrupt by the Seoul Central District Court. A bankruptcy trustee has been appointed to lead the sale of Hanjin's remaining assets to pay off debts, with creditors required to file their claims by 1 May. However, the rate of recovery for unsecured creditors is expected to be close to zero, sine most of Hanjin Shipping’s unencumbered assets are being sold at very low prices.
- According to Hanjin’s last published financial report as at 30 September 2016, total liabilities stood at KRW 6.697 Tn ($6.06 Bn), including borrowings of KRW 4.567 Tn ($4.13 Bn) and trade payables of KRW 2.029 Tn ($1.83 Bn).  
- The company’s total assets were valued at KRW 4.343 Tn ($3.93 Bn) while shareholder’s equity showed a deficit of –KRW 2.354 Tn ($2.13 Bn). Although accounting firm Samil PwC submitted an estimated liquidation value for Hanjin Shipping of about KRW 1.79 Tn ($1.53 Bn) in December last year, the reported asset sales so far have garnered only $157 M, excluding the sale of vessels that have been seized by creditors.

Feb 21 - The Future Now After OW: Assuring "Anni Mirabilis" With Lessons from "Anni Horribilis"
Spiked by OW Bunkers' collapse, the bunkers industry has, since the end of 2014 and into 2015 and 2016, had not just one "annus horribilis," but "anni horribilis," horrible years.

Feb 21 - Bankrupt Owner's Cargo Vessel Detained, 23 Crew Stranded Over Unpaid Bunker Bills
The cargo ship Union Demeter has been detained in Haldia Port since December on outstanding bunker bills.

Feb 20 - Oil Glut and U.S. Shale Worries Cause Market Losses For The Week

Uncertainty over whether OPEC will extend its cutbacks is also weighing heavily on the market.

Feb 20 - Bunker Jobs: Singapore Bunker Trader Opportunity with Major Oil Business
A leading physical supplier of bunker fuel in Singapore and other ports are looking to hire a Bunker Trader to join their Singapore team.

Feb 20 - Saudis Lose South Korea Oil Market Share to Iran as Iraq Accelerates Its Own Export Plans
Iran was the only Middle Eastern producer to see exports rise last month as others complied with the OPEC cutbacks.

Feb 20 - "Interest in LNG as a Marine Fuel Is Growing" Following IMO Sulfur Cap Decision, Says Supplier

"Our decision to enter the LNG bunkering market is part of a long-term strategy," says EVOL LNG's Nick Rea.

Feb 17 - Singapore Is a Good Bunker Market to Be in for the Right Players: Cosulich
While coming into the Singapore market would be "very difficult," for those already invested in know how and the right people, "it makes sense to be here," Fratelli Cosulich CEO Timothy Cosulich tells Ship & Bunker.

Feb 17 - Bunker Brokerage LQM Diversifies Into Bunker Trading

"This is a natural evolution for LQM as we respond to the needs of our customers and the realities of today's bunker market," CEO Marisa Femenia tells Ship & Bunker.

Feb 17 - Hanjin Shipping Succumbs to Bankruptcy Declaration
The company was officially declared bankrupt by a South Korean court today.

Feb 17 - OPEC Goal Is Self-Protection, Not Re-Balancing or $70 Oil: Analyst
Richard Gorry doesn't expect a "true" re-balance to come until "much much later" than this year.

Feb 17 - Argentina's rising grains production strands vessels in river traffic

When a boat carrying soy oil destined for India ran aground on the Parana River near Buenos Aires in late January, ships loaded with most of Argentina's grains exports were blocked for hours. It was the latest accident on one of the world's great food highways, which is straining to carry rising volumes of Argentine agricultural products embarking on the first leg of the journey from the fields of the Pampas to the feeding troughs of cattle, pigs and chickens worldwide. Click here to read full stories.

Feb 17 - Snow, avalanches, rain delay grain movement to U.S. ports

Severe winter weather has slowed rail deliveries of crops to shippers in the U.S. Pacific Northwest, sending freight rates soaring and prompting Asian buyers to seek fill-in loads as they wait for the backlog at ports to clear. Blizzards, avalanches and heavy rain in recent weeks have hit transport of corn, soy and wheat to ports where they head for the lucrative Asian market, adding to the struggles that have plagued U.S. exporters since harvest. Click here to read full stories.

Feb 17 - China "Silk Road" project in Sri Lanka delayed as Beijing toughens stance

China will delay a planned $1.1 billion investment in a port on its modern-day "Silk Road" until Sri Lanka clears legal and political obstacles to a related project, sources familiar with the talks said, piling more pressure on the island nation. Heavily indebted Sri Lanka needs the money, but payment for China's interests in Hambantota port could be held up by several weeks or months, the sources added. Click here to read full stories.

Feb 17 - Shipping industry calls for exemption from EU carbon market reform

The global shipping industry has urged the European Union to drop the sector's inclusion in proposals adopted on Wednesday to reform the bloc's carbon market, saying it risks distorting trade and international efforts to cut the sector's emissions. About 90 percent of world trade is transported by sea, with shipping accounting for an estimated 2.2 percent of global carbon dioxide (CO2) emissions and forecast to rise dramatically unless action is taken. Click here to read full stories.

Feb 17 - Singapore marine fuel sales at record high in January

Sales volumes of marine fuels in Singapore surged to a record 4.46 million tonnes in January, the highest in any month since records began, easing concerns that mass flow meters (MFM) could negatively impact bunkering activity, official data showed. "The (January) numbers imply that ship-owners and operators are even more confident to take bunkers in Singapore now that all deliveries are made using MFM barges," a Singapore-based bunker fuels trader in Singapore said. Click here to read full stories.

Feb 17 - Tangshan Port shares soar on proposed coal clampdown on rival 

Shares of Tangshan Port Group Co Ltd soared 7 percent on Tuesday, to post their biggest daily percentage gain in nine months, as investors bet the small port would benefit from a major clampdown on coal transportation at its larger rival. Shares in the Hebei-based company trading on Shanghai stock exchange jumped to 4.6 yuan ($0.67), their highest since Nov. 15, on Tuesday before ending the session at 4.52 yuan. Click here to read full stories.

Feb 16 - Bunker Brokerage LQM Diversifies Into Bunker Trading
"This is a natural evolution for LQM as we respond to the needs of our customers and the realities of today's bunker market," CEO Marisa Femenia tells Ship & Bunker.

Feb 16 - Djibouti at a Key Point in Its Development as a Regional Bunkering Centre: Port Authority
"The new LNG and oil terminals being built will further cement the nation's role as a major refuelling, bunkering, and transhipment centre," says DPFZA Chairman.


Feb 16 - Carriers pin hope for earnings rebound on more balanced demand and supply outlook (AlphaLiner)
- Maersk Line expects its net earnings to rebound by over $1 Bn from an underlying loss of -$384 M in 2016 to a net profit in 2017. The improvement is based on Maersk’s assessment of a recovery in seaborne container transportation that is expected to increase by 2 to 4%. - Maersk saw an encouraging growth of 4% in global container demand in the fourth quarter of 2016 and it increased own liftings by 12%, in line with its strategy to gain market share. According to Maersk, the container market has seen an inflection point in the late 2016, with demand rising above demand during the fourth quarter, marking the start of a period strengthening earnings for carriers.
- Maersk’s optimistic assessment contrasts with the tentative forecasts by other industry players. Hutchison Ports cautioned that container volume growth in 2017 remains uncertain due to the ’policy stance of the new US administration’ and the ’continued weak consumer sentiment and high unemployment rate’ in Europe that could hinder the pickup of the European trade.  
- Apart from the uncertainty over demand growth, competition among carriers remains intense, ahead of the new Transpacific service contract season, starting on 1 May. Various carriers plan to launch new transpacific services in the next two months, while the 2M will also launch a new high capacity Far EastNorth Europe string in April (see pages 7-9 for details). MOL cautioned that it anticipates freight rates to decline in March and the carrier adjusted earnings projections downward for its fiscal year forecasts through March 2017.

Feb 15 -"Rampant Demand Growth" Helping Prop Up Oil Prices: Energy Aspects
But there are still challenges in the medium term, say other analysts.

Feb 15 - World Fuel Services Posts Full Year 2016 Bunker Volumes of 31.4 Million MT
CFO Ira M. Birns says restructuring efforts within its marine segment are now "95 percent complete."

Feb 14 - "Exciting Times" Ahead for OceanConnect Marine in 2017: Rose
"We can look forward to bringing in some key commercial people over the next 12 months," Chief Commercial Officer Daniel Rose tells Ship & Bunker.

Feb 14 - Baltic Dry Index Falls Below 700 Mark as Index Cool Down Continues

The Baltic Dry Index lost 14 points to land at 688 on Monday.

Feb 14 - 2016 Marks New High for Vessel Traffic in Malacca and Singapore Straits
Traffic reached an all time high of 83,740 transits, marking a 3.4 percent increase.

Feb 13 - Scrubbers Will Only Get More Expensive, Not Cheaper, As 2020 Draws Closer
Shipowners waiting for scrubber prices to fall "will be surprised to find the total opposite when they eventually buy the systems," CROE COO Nick Confuorto tells Ship & Bunker.

Feb 13 - "OPEC Oil Cuts Are Holding, But The Demand is Not There": Analyst
"If [oil] trips to $50 a barrel stops, I think it could really tumble very quickly," says BK Asset Management.

Feb 13 - Longevity of OPEC Deal Questioned as Venezuela Woes Worsen
The cartel and its members are falling under increasing scrutiny from the analytical and business worlds.

Feb 13 - Carnival's US LNG Bunkering Needs Still Under Assessment
Tom Strang, senior vice-president maritime affairs at Carnival, says a number of LNG suppliers have been "coming to the table."

Feb 10 - Sing Fuels Starts Cambodian Bunkering Operations in Anticipation of Traffic from Singapore Bypassing Kra Canal
Sing Fuels will offer 180 CST via truck to ship deliveries, as well as low sulfur MGO of a maximum 0.05 percent sulfur at the Cambodian port of Sihanoukville.

Feb 10 - MFM for Bunkering; EU MID and Singapore TR48: The Facts
Emerson was heavily involved from the beginning with the introduction of MFM in bunkering applications in Europe and later in Singapore.

Feb 09 - Spanish docker strike seen disrupting key export chains 

Key export chains in Spain could face major disruption if a long-running dispute between the government and the country's dock workers extends beyond a planned three-day strike next week, industry sources warned on Thursday. The standstill will take place every other hour on Feb. 20, 22 and 24 at dozens of Spanish ports which employ more than 6,000 stevedores and handle an estimated 500 million tonnes of merchandise a year. Click here to read full stories.

Feb 09 - Port Hedland says weather cuts Jan China iron ore exports

Shipping interruptions caused by stormy weather cut iron ore shipments to China from Australia's Port Hedland terminal in January by 7.8 percent from a month ago, port authorities said on Monday. The port, used by BHP Billiton and Fortescue Metals Group, saw exports to China slip to 34.5 million tonnes from 37.4 million tonnes in December, after a tropical low swept across the Pilbara iron ore district on Jan. 27, triggering an emergency clearing of vessels for just under 18 hours.  Click here to read full stories.

Feb 09 - Hamburg dredging plan for Elbe can proceed, court rules 

Dredging the river Elbe in Hamburg to enable new generations of container ships to reach Germany's largest port can go ahead, the country's top administrative court ruled on Thursday. Green pressure groups had lodged a legal complaint against the plan, arguing the environmental impact of dumping mud and sand on fragile coastal wetlands would be devastating. Click here to read full stories.

Feb 09 - Chaos at Indonesian ports disrupts coal shipping

Road blockages and bad weather in Kalimantan on the Indonesian side of Borneo island are being blamed for a disruption of coal supplies from one of the world's most important export regions. Coal traders and ship operators cited several reasons for the loading delays. Click here to read full stories.

Feb 09 - French wheat, barley exports pick up in December

French exports of wheat and barley picked up in December, supported by shipments to North Africa and the Middle East, although total exports so far this season remained well below the year-earlier level, customs data showed on Tuesday. France has been trying to hold on to export sales this season following its worst wheat harvest in three decades, which could see it overtaken by Romania and Germany as the top EU supplier to the world market. Click here to read full stories.

Feb 09 -Brazil wheat hits export markets after large crop - port data 

Brazil, traditionally one of the world's largest wheat importers, has exported several shipments of the grain recently as a large domestic crop and a government subsidy make the exports competitive abroad, according to data from ports. Brazil exported 338,000 tonnes of wheat in December and January and is expected to ship 244,000 tonnes more during February, according to shipping agency Wilson Sons. China, South Korea and Vietnam are among the main destinations of the grain. Click here to read full stories.

Feb 09 - Shell Inks Another LNG Bunker Supply Deal
"This agreement shows the continued momentum of LNG as a fuel option," said Lauran Wetemans, Shell's General Manager Downstream LNG.

Feb 09 - Statoil Drops Long Term Oil Forecast to $75 Per Barrel
BP meanwhile says oil will stay in the $50s for 2017 - which is a boon to Qatar.

Feb 09 - We Need a Constitution of the Bunker Industry, Says Muhtaroglu
The Industry needs a Code of Ethics that should be part of all bunker sales Terms and Conditions, the Energy Petrol founder tells Ship & Bunker.

Feb 09 - Oil Stuck at $30-$60 Is in Line With Long Term Historical Average: Morgan Stanley
Ruchir Sharma also says that Trump's border-adjusted corporate tax could significantly impact market internals.

Feb 09 - OPEC Does About Face, Suggests Further Oil Cuts Might be Needed
The suggestion was made by Qatar and Iran, the latter of which has exceeded its deemed OPEC production ceiling.

Feb 09 - WSS Urges Ship Operators to Utilise Onboard Bunker Testing
WWS says that while onboard fuel testing provides an obvious solution to fuel quality issues, statistics show that such processes are underutilised.

Feb 09 - HMM Set to Post Losses Through to Mid-2018 While Financial Situation Improves
HMM says it plans to order newbuild vessels to meet new emission regulations once it achieves a turn around to profit.


Feb 09 - A.P. Moller-Maersk halves dividend to weather shipping crisis 

Danish shipping and oil group A.P. Moller-Maersk plunged to an unexpected loss last year, hit by impairments and a weak performance in container shipping, and halved its dividend to try to protect its credit rating. However, the world's biggest container shipping company said on Wednesday it saw signs of improvement in an industry that has suffered for years from a glut of vessels and sluggish global trade, with freight rates rising and business picking up. Click here to read full stories.

Feb 09 - Volume recovery in Far East-Europe and Transpacific trade (AlphaLiner)
- Container volumes on the headhaul Far East-Europe and Far East-North America tradelanes recorded a mild recovery in 2016, based on latest statistics from CTS and PIERS.
- According to CTS data, the Far East-Europe trade reached 15.08 Mteu in 2016, for an increase of 1.2%. This follows a contraction of –3.1% on the trade recorded in 2015, caused mainly by a reduction in Russian demand. More stable volumes to Russia in 2016 have helped to stem the fall in total volumes to Northern Europe (+0.8%), while strong growth in the West Med (3.9%) also helped mitigate flat volume growth in the East Med (+0.2%).
Overall Far East-Europe volumes remain below the peak of 2014, when  a total of 15.39 Mteu was recorded, with Russian volumes still significantly below 2014 levels.  
- The Far East-US trade recorded a stronger 4.3% growth to reach an all-time high of 14.21 Mteu in 2016, based on data provided by PIERS. This marked the seventh consecutive year of positive volume growth on the Transpacific trade.
- Volume growth to the US West Coast and US East Coast was almost equally matched at 3.4% and 3.3%, respectively, with the opening of the new Panama Canal locks in June last year making no significant difference to the cargo split between the US West Coast and East Coast. However, volumes to the US Gulf recorded a 26.6% growth rate, thanks to the introduction of a new Far East-US Gulf ‘TP-18/Lone Star Express’ service by the 2M partners in May last year.

Feb 08 - Hamburg Süd Signs Slot Purchase Agreement with Maersk Line Ahead of Acquisition
The new slot purchase agreement is said to be set to come into effect on April 1, 2017.

Feb 08 - Analysts in the Wake of Oil Falling Yet Again Say $35/bbl in the Near Future is Possible
Everything from huge inventories and weak demand to OPEC cutbacks faltering are cited as the reasons for the potential slide.

Feb 08 - U.S. Still Reluctant to Adopt LNG Bunkers: Industry Sources

U.S. shipowners and suppliers are said to be still weighing the risks and costs associated with developing the supporting LNG infrastructure.

Feb 08 - January Sees Panama Canal Break Monthly Tonnage Record Set in December

In January, the canal set a new monthly tonnage record of 36.1 million PC/UMS with the transit of 1,260 ships.

Feb 08 - Torvald Klaveness Newbuilds to Use ABB's OCTOPUS Software to Save Fuel, Meet Environmental Regs

OCTOPUS gathers information collected by onboard sensors to provide insight on key performance parameters, including fuel efficiency.

Feb 08 - MFM for Bunkering; EU MID and Singapore TR48: The Facts
Emerson was heavily involved from the beginning with the introduction of MFM in bunkering applications in Europe and later in Singapore.


Feb 07 - Vitol Warns of "Very Volatile" Oil Market, Sees Prices Capped at $62/bbl
U.S. president Trump again is cited as the key driver for the predicted tumult.

Feb 07 - Tumbling 2018 Oil Prices Part of a Good News/Bad News Forecast From Bank of America Merrill Lynch

U.S. president Donald Trump is cited as the instigator of a potentially rocky market ahead.

Feb 07 - "Shortest Traversable Period in Recent Years" for Bunker Saving Northern Sea Route

The short season comes despite sea ice in the Arctic Sea falling to a record smallest area during 2016.

Feb 07 - How Does a Bunker Saving Air Lubrication System Work? [VIDEO]
Silverstream have released a new animation demonstrating its air lubrication technology.

Feb 07 - Oil Rig Count Weighs on Crude Oil Prices

Bunker prices were softer in the primary ports.


Feb 06 - Oil Prices Reaching a Fair Level Due to OPEC Cutbacks: Russia
Further cutbacks from private producers may happen sooner than scheduled, says Russian energy minister.

Feb 06 - OPEC Oil Cuts "Encouraging" But Prices Won't Reach the Low to Mid $60s: IEA
Neil Atkinson says finding a sweet spot for prices is essential to cutback proponents

Feb 06 - Kogas Set to Provide KC-1 Containment System for Future LNG Bunkering Newbuild
The tender for the vessel project is said to have been expected to be announced late last year but was delayed so project details could be finalised.

Feb 06 - MPA Renews MOU with DNV GL for R&D and Innovation in Maritime Industry

The MoU extends the cooperation period by 3 years and expands the two parties' cooperation to include autonomous systems and intelligent shipping.

Feb 06 - Kaohsiung Launches Modernised Bunker-Saving Hybrid Electric Ferry

As a result of the retrofit, Ferry Happiness has halved its daily fuel consumption, and is expected to now save more than 25,000 litres of fuel each year.


Feb 06 - Port Hedland says weather cuts Jan China iron ore exports 

Shipping interruptions caused by stormy weather cut iron ore shipments to China from Australia's Port Hedland terminal in January by 7.8 percent from a month ago, port authorities said on Monday. The port, used by BHP Billiton and Fortescue Metals Group,  saw exports to China slip to 34.5 million tonnes from 37.4 million tonnes in December, after a tropical low swept across the Pilbara iron ore district on Jan. 27, triggering an emergency clearing of vessels for just under 18 hours. Click here to read full stories.

Feb 03 - This is Why the Bunker Industry Needs MFMs
MFMs are a way out of a cycle of claims, damaged relationships with ship owners, and an ever-diminishing opportunity to make money, writes Tolson.

Feb 03 - Latest OW Bunker Dispute Case Was Wrongly Decided: ING Lawyer
"There are three main points we disagree with as a matter of law," Bruce G. Paulsen tells Ship & Bunker.

Feb 03 - OPEC Oil Shipment Increases to Asia Raise Questions About Cartel's Ability to Reduce Glut
The cartel's supplies to Asia rose by 7 percent between November and January.

Feb 03 - Crude Falls Again Amid Suggestions That OPEC Cutback Deal Isn't Enough to Revive Market
The unexpected build in U.S. inventories is said to be the main trigger for Thursday's losses.

Feb 03 - Weekly Vessel Scrapping Report: 2017 Week 4

Have you sold bunkers to a recently scrapped vessel? Check here with VesselsValue.com's demolition sales from January 26 – February 1, 2017.

Feb 03 - Rotterdam to Visit Singapore as Port Mulls Mass Flow Meter Use for Bunkering
"Our plans regarding MFM's are still very preliminary," a spokesperson tells Ship & Bunker.

Feb 03 - Liquidation of Colombia Player Petrocosta Ordered, but Operations Under Bunker Partnership With Dan-Bunkering to Continue

Dan-Bunkering said it would continue to be "business as usual" for the physical supply partnership.

Feb 02 - Pakistan's first dry bulk terminal to open in March -CEO 

Pakistan’s first dry bulk terminal will open next month and is expected to handle 3 million tonnes a year of coal imports, rising to 20 million tonnes over the next five years, the port's chief executive said on Thursday. The $285 million Port Muhammad Bin Qasim, which was built with support from the World Bank, will also be used to export cement and clinker, Sharique Siddiqui, chief executive for Pakistan International Bulk Terminal, told Reuters at a coal conference in Cape Town. Click here to read full stories.

Feb 02 - Japan's top shippers trim loss estimates as container units stabilize 

Japan's top three shippers, Nippon Yusen KK (NYK), Mitsui OSK and Kawasaki Kisen Kaisha pared their full-year loss estimates on Tuesday as a downturn in the global container market stabilized and a weakening yen helped bolster earnings as they cut costs. NYK, the biggest of the three by sales, lowered its forecast for an operating loss for the year to March 31 to 17 billion yen ($149.87 million) from an earlier 25.5 billion yen deficit prediction. That compares with a forecast for an average operating loss of 24.2 billion yen from 11 analysts polled by Thomson Reuters. Click here to read full stories.

Feb 02 - Ship operator Toisa files for bankruptcy 

Shipping company Toisa Ltd filed for U.S. Chapter 11 bankruptcy as falling demand for the Bermuda-chartered company's oil-and-gas supply vessels left it running short of cash, according to court documents. Toisa, owned by Greek shipping magnate Gregory Callimanopulos, has a global fleet of 26 offshore oil service vessels, 13 tankers and seven bulk ships, according to documents filed with the U.S. Bankruptcy Court in Manhattan. Click here to read full stories.

Feb 02 - S.Korea court says expects to declare Hanjin Shipping bankrupt on Feb. 17 

A South Korean court said on Thursday it decided to end Hanjin Shipping Co Ltd's court receivership process and expects to declare bankruptcy on February 17 after a two-week period for appeals. The Seoul Central District Court said in a statement that it made the decision as the firm's liquidation value would be worth more than its value as a going concern. Click here to read full stories.

Feb 02 - Australia iron ore ports clearing ahead of cyclone – authority

A tropical low in the Indian Ocean off Australia was forecast on Friday to intensify to cyclone strength within 24 hours, disrupting shipping from the world's biggest iron ore export terminals and threatening offshore production of liquefied natural gas (LNG). The Pilbara Ports Authority said in a statement it had already cleared vessels from outer anchorages at Port Hedland, and vessels within the inner harbour would depart by 0500 GMT. Click here to read full stories.

Feb 01 - BHP launches online freight platform to sink shipping costs 

BHP Billiton has launched an online system under which shippers compete to offer the best price to haul cargoes of commodities such as iron ore and copper to the mining giant's customers. BHP this week allocated its first cargo using the auction-style platform, which it hopes will save money as it bypasses brokers who traditionally help negotiate vessel-hire rates between cargo owners and shippers. Click here to read full stories.

Feb 01 - India wheat imports seen rising to 4.5 mln T -cargo surveyor 

India's wheat imports for 2016/17 are likely to jump to the highest level in a decade at 4.5 million tonnes as the south Asian country raises overseas purchases to calm prices, a cargo surveyor said on Thursday. Wheat imports in the 2016/17 financial year ending March 31 have already reached 2.9 million tonnes, said Siddharth Amin, director of Mumbai-based cargo surveyor Dr. Amin Controllers Pvt, adding that they could climb to 4.5 million tonnes. Click here to read full stories.

Feb 01 - Philippines to shut half of mines, mostly nickel, in environmental clampdown 

The Philippines ordered the closure on Thursday of 23 mines, mainly nickel producers that account for about half of output in the world's top nickel ore supplier, in a government campaign to fight environmental degradation by the industry. Manila also suspended operations at another five mines, including the country's top gold mine operated by Australia's Oceanagold Corp, as Environment and Natural Resources Secretary Regina Lopez vowed to put the public's welfare above mining revenues. Click here to read full stories.

Feb 01 - Brazil soybean export lineup up 97 pct from year ago 

The lineup of vessels expected to load soybeans at Brazilian ports over the next month shows a spike in shipments to around twice the level of a year ago due to a speedy harvest and strong global demand. Port schedules suggest around 4.39 million tonnes of soybean exports in February and early March, 97 percent more than a year ago, according to data from shipping agency Wilson Sons compiled by Reuters on Tuesday. Click here to read full stories.

Feb 01 - Fortescue sees iron ore demand boost as China closes steel mills 

A Chinese crackdown on inefficient steelmaking will support demand for iron ore imports, Australia's Fortescue Metals Group said on Wednesday, maintaining its forecast for record shipments this year amid a rebound in prices. Exports to China by the world no. 4 iron ore miner dipped slightly in the quarter to Dec. 31, quarterly production data showed, but are still on track to meet or beat the high end of its 2016/17 guidance for 165 million to 170 million tonnes. Click here to read full stories.

Feb 01 - Trump trade plans, S. America crops could hurt U.S. farm exports 

U.S. farmers and grain handlers may be stuck with a bigger-than-expected portion of the massive stockpile of corn and soybeans harvested last fall as uncertainty about trade polices under U.S. President Donald Trump threatens to upend exports. Domestic demand tends to be relatively steady from year to year, so the typical escape hatch for an abundance of corn and soybeans is the export market. Overseas buyers turn to countries looking to unload supply gluts, hoping for cheaper prices. Click here to read full stories.

Feb 01 - EU imposes definitive dumping duties on Chinese steel tube imports 

The European Union has imposed definitive anti-dumping duties on Chinese and Taiwanese imports of stainless steel tubes and pipe butt-welding fittings to protect its industry from steel overcapacity. An investigation found Chinese and Taiwanese manufacturers had sold stainless steel tube and pipe butt-welding fittings in Europe at dumped prices, the European Commission said in a notice published in the official journal on Friday. Click here to read full stories.