GFM Network News

Shipping slump seen extending into 2013

The global shipping slump is expected to last well into 2013 as a glut of vessels and a growing credit squeeze will challenge even the toughest companies in the seaborne sector, Moody’s Investor Service said on Wednesday. Shipping companies, especially in the oil tanker and dry bulk sectors, already hit by worsening economic turmoil, weak […] Read more

Japan-bound grain ships reported unable to unload

At least nine vessels carrying grain bound for Japan are unable to discharge their cargoes due to problems at the country’s ports hit by last week’s earthquake and tsunami, trade sources said Wednesday. Concerns about delays or cancellations to Japanese shipments sent benchmark corn and wheat futures contract prices lower in Chicago on Wednesday. Japanese […] Read more