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BIMCO's Road to Recovery for March 2017

Peter Sand, BIMCO's Chief Shipping Analyst, talks about the latest update of BIMCO's Road to Recovery analysis of the shipping market, stating that, even if there has been a recent lift in freight rates certainly positive, there is still work to be done on the supply side. A significant level of demolition activity must be maintained, and increasing focus must also be on keeping slow steaming around.

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LNG: the new big and profitable venture

LNG is shipped all over the world and is considered a cheaper source of gas What the world sees as a full-fledged sector now was not even feasible just a few years ago. Liquefied natural gas sector has become global in no time.Today LNG is shipped all over the world and is considered a cheaper source of gas. Moreover, it is the global shipping industry that has benefited the most.Today LNG shipping is being seen as a highly profitable business, unmistakably by the soaring shipping rates.Well it might surprise everyone, but the shipping scenario was not as rosy just a few years ago when around 30 percent of the global LNG shipping capacity was idle.There was a time when United States of America was importing LNG from the rest of the world.However, when the gas production started to rise as the country entered into the famous gas glut, the discovery of gigantic shale gas reserves in United States rendered importing LNG unfeasible as natural gas prices went down massively.The other major consumer of LNG, Asia was also unable to provide any respite to the LNG shipping sector due to the continuous rise in the global gas supply and the fall ...

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Varna Port Registers Record Profit in 2011

The port in Bulgaria's Black sea capital Varna has processed a record volume of cargo in 2011 The port in Bulgaria's Black sea capital Varna has processed a record volume of cargo in 2011. Photo by eurolink-bulgaria.com2011 was a record year for the port of Varna with over nine million tons of processed cargo and over BGN 4 M in net profit.The information was announced by the Director of the Port of Bulgaria's Black Sea capital, Captain Daniel Papazov, quoted by Radio Varna Wednesday.Expectations for 2012 are that the processed cargo passed at the port will be at least 8 million tons. The port has already sealed 73 permanent contracts for 2011.The investment program provides for the purchase of two mobile cranes, as well as equipment for loading grain at the Varna - West port.Source: Novinite

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