Chinese banks scaling back loans to ship owners, yards Chinese banks, avoiding dollar-denominated loans as the yuan appreciates, are scaling back funding to shipyards and vessel owners two years after the government told them to boost their commitment to the industry.
Strait Talk
Well deserved welfare award A COUPLE of weeks ago, Singapore received an accolade which may not have received a lot of attention outside the shipping industry. Nevertheless, being a joint winner (along with Barcelona) of this year's International Committee On Seafarers' Welfare (ICSW) Port of the Year award is an achievement that the country should be proud of.
Chinese banks scaling back loans to ship owners, yards Chinese banks, avoiding dollar-denominated loans as the yuan appreciates, are scaling back funding to shipyards and vessel owners two years after the government told them to boost their commitment to the industry.
Strait Talk
Well deserved welfare award A COUPLE of weeks ago, Singapore received an accolade which may not have received a lot of attention outside the shipping industry. Nevertheless, being a joint winner (along with Barcelona) of this year's International Committee On Seafarers' Welfare (ICSW) Port of the Year award is an achievement that the country should be proud of.
Poste Italiane to support modernisation of Russian Post Poste Italiane will support Russian Post in its aim of modernising its postal network. Poste Italiane's managing director Massimo Sarmi and the general manager of Russian Post, Ale...
Aramex expanding in Asia Aramex, a Dubai-based Emirati global express, freight and logistics service provider, has announced a series of strategic acquisitions and partnerships in Turkey, Malaysia, Banglad...
Port of Charleston going strong The port of Charleston recently celebrated another deepwater milestone when it welcomed the 300th post-panamax ship to call there. The "MSC Stella", which has a 47 ft dra...
Storms batter cruise image SEVERE weather across the world has led to escalating publicity woes for the cruise industry
Charleston appeals to Obama on dredging CHARLESTON port advocates are urging President Obama to provide federal dredging money despite calls to cut funds for special projects
India sounds terror alert INDIA'S Western Naval Command in Mumbai today issued a coastal terrorist alert
Valero primes Aruba refinery for a restart VALERO is restarting its dormant refinery in Aruba and has revealed a new plan to import LNG to the island
EC urges leniency on new cargo rules THE EC told Fairplay today it has asked member countries to show leniency towards shipping companies that fail to apply its new 24-hour advance cargo declaration rule in time
India logistics JV formed CONCOR has formed a logistics joint venture with Transport Corp of India
JSW raises port funds SAJJAN Jindal-led JSW Infrastructure said today it has raised $125M by selling a 10% stake in the US investment group Eton Park
Banks launch Costamare coverage Scores of equity analysts race to stamp newly-listed containership owner with coveted ratings as 'quiet period' comes to a close.
Five survive pirate frenzy Sovcomflot, RBD Armatori and NATS ships avoid hijacking as quintet of vessels targeted.
Platinum ties up ACL acquisition US tug and barge giant says 80% of its shareholders have rubber stamped $777m takeover bid by Platinum Equity.
DHT pulls trigger on tanker Svein Moxnes Harfjeld holds the helm as New York-listed owner shells out $55m on VLCC.
Pride pens fifth drillship Pride International boss Louis Raspino says $600m drillship order is fuelled by strong demand for sophisticated floaters.
Reefer in trouble off Russia Hong Kong's Yuan An 77 springs a leak through hold cracks near Sakhalin Island.
No bank hype for Hapag order RBS notes German container line gave into temptation with HHI order but is not getting carried away with the deal.
Philippines opts out of Subic Government planning to sell 10% stake in Keppel-controlled shipyard.
Safe stamps two year pledge Greek owner Safe Bulkers chips away at 2011 charter cover with kamsarmax contract worth upwards of $13m.
STX orders 20 bulkers Huge $912m order from STX Pan Ocean split between sister yards in Korea and China.
MOL terminates Dyvi double Norwegian owner NOCC will pocket compensation cash after Japanese giant scraps charters three years early.
Goa going to Nigeria? Indian shipyard wants to invest in African industry and win patrol boat orders.
SCI staff say no thanks Indian owner's share offer proves unpopular with workers, who buy less than a fifth of allotment.
Order blitz sparks yard rally STX and HHI shares power up on the back of huge orders for bulkers and boxships.
Syria plots port resurgence Government to plough $800m into building container and bulk capacity by 2015.
PSV sales score for Siem Offshore Oslo-listed owner scoops $6m profit from modern PSV sale which points to a sharp rise in values.
Jolly Amaranto sinks in port Listing Messina ro-ro goes down in shallow water inside Alexandria harbour, Egypt.
Prayer boxes spark bomb alert Devout Jewish tourist mistaken for terrorist on New Zealand ferry after strapping on phylacteries
Sunken tug encased in ice Ann Marie sinks in freezing Saginaw Bay, as USCG eyes salvage operation.
Chinese banks scaling back Report shows Chinese lenders have reduced their share of global shipping loans for the first time in five years.
New cruiseship boosts TUI German operation grows profit after first full year of TUI Cruises division.
Hellenic Sea returns Hellenic Carriers bulker damaged in Amazon grounding back in operation after completing repairs.
Oman sets new ferry record Gulf nation says its Austal-built vessel Shinas has set new speed mark of 56.6 knots.
SapuraCrest profits slide Rohaizad Darus-led offshore contractor, in which John Fredriksen has a stake, hit by higher costs.
Wartsila wins UK order Finnish engine builder to supply propulsion plant for British environmental agency newbuilding.
Oil pumped from Tiger Spring Spill threat from grounded boxship nullified in Hooghly River, India.
TNWA plans Vietnam call The New World Alliance to expand JEX service to include call at Cai Mep and link to Europe.
PCA in Long Beach tie-up Panama Canal agrees accord to help promote trade between Latin America and US west coast port.
Hapag-Lloyd recovery continuing German container line adds EUR 150m to shareholder TUI's annual profit as it prepares to exit sector.
Mærsk sells the last three M-class vessels A P Møller-Mærsk has reportedly sold three older container carriers to Mediterranean Shipping Company, MSC, for an undisclosed sum. A P Møller-Mærsk has not made any comments so
French reinforcement to EU Navfor On December 12 the French warship Jacoubet reinforced the EU Navfor operation off Somalia. The warship has a crew of 89. EU Navfor also confirms that the crude oil tanker
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