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Carriers reduce free box detention time

Shipping lines have announced a reduction in the time available before the shipping line will charge daily detention fees (known as “free container time”).

KBR scores design services contract for Esperance upgrade

Global engineering and construction company KBR has been awarded a design services contract for the road and rail works as part of a major transport upgrade at the Port of Esperance.

Faulty steering indicator to blame for 2011 grounding

Builders of the Panama-flagged bulk carrier Dumun missed a fault in the ship’s steering mechanism, leading to its grounding while leaving the port of Gladstone in April last year, the Australian Transport Safety Bureau has found.

Aus/China capesize rates plummet

Western Australia to Qingdao, China, capesize trips were earning only $6.34 per tonne last Friday, which was the lowest level seen since February 2011.

Chinese yard in ground-breaking deal for LNG newbuildings

Nantong Mingde Heavy Industry, a privately owned shipyard in eastern China’s Jiangsu Province, has entered a partnership to co-design and build up to 21 liquefied natural gas carriers.

Volumes of ship repossessions grow

Dozens of repossessed ships are finding their way into the hands of Asian third-party managers, industry sources have confirmed. Banks are apparently demonstrating an increasing willingness to trade vessels rather than force an immediate sale.