THE jack-up rig fleet is expected to surge, with shipyards to deliver another 24 units for drilling contractors in the next six months.

TENSION among the rival political groups vying for control of Somalia has severely hampered security efforts, including initiatives to enlist foreign and private forces to patrol the coast.

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ATLANTIC handysize and supramax shipowners are accepting delivery options outside of their usual region as owners cannot afford to ballast amid record high bunker prices, writes Jamie Dale.

THE ASIAN product tanker market is holding steady after the strong gains in the past few weeks, with medium range tankers enjoying healthy levels of interest amid tight tonnage supply, writes Jerry Frank.

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ORE

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Index basis: 50-52,000 dwt bulk carrier, maximum 10 years old, 25t cranes with grabs, 14k on 30t ifo no diesel at sea

For more information on routes or calculations, visit www.balticexchange.com

All prices shown in Worldscale

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Outsourcing business processes in other countries will also mean saving a lot of money on company insurance, social security payments and other benefits that you will be required to pay for if you hire a regular employee in your company to do the job.

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MAIB wants more pipeline protection
BRITAIN needs to review its risk assessment process for the protection of pipelines from possible unwanted interaction with surface vessels, the Marine Accident Investigation Branch has recommended, writes David Osler.

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The Dow Jones Industrial Average closes more than 20% below its October peak, making it a bear market.

The European Central Bank is expected to raise interest rates to control inflation, which is near a 15-year high.

The president of oil producers’ cartel Opec tells the BBC crude oil prices could rise still further this week.

The coffee chain Starbucks plans to close another 500 stores on top of the 100 it had already announced.

Senior British staff at TNK-BP will not have to leave Russia, after the migration service approves their work permits.

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HIGHER volumes of crude oil will be heading out of Middle East and African ports to Asian terminals in the next five years despite a deceleration in global demand growth in the short term.

TANKER derivatives trading on the most frequently traded contract has begun to ease as freight rates in the underlying physical market near their peak.

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A SUMMER breeze sweeping across the Atlantic panamax market has slowed activity, while owners look to fix longer periods to guarantee earnings at current rates, writes Jamie Dale.

WEAK demand for aframaxes in the US Gulf and Caribbean markets has forced rates lower this week, with further declines expected, writes Jamie Dale.

Newcastle on up as queues ease

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ICAP HANDYMAX INDEX? 4,116 (-189) 25 Jan 2008
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