Deutsche Bank names StealthGas its top pick in gas shipping Greek owner holds the largest LPG fleet in the market
Manila congestion is far from over, says ICTSI Lifting the truck ban is only the start of a long recovery, says port operator
Earnings fall short for medium range product tankers Tonnage fails to deliver the 'buzz and optimism' that analysts expected this year
Torm shareholders face threat of further dilution With new debt holders, struggling tanker operator ponders another equity for debt swap
Scorpio Tankers' magnificent seven go to work Tankers start time charters as soon as they hit the water
Aronnax: storing power The age of the battery has arrived
Sanctions force spotlight onto aframaxes hauling Russian crude Trade from Kozmino chugs along, but for how much longer?
Top 2M managers urge FMC not to stop the clock Executives dash to Washington after two commissioners voice tie-up worries
Greece has fewer owners but a bigger fleet, finds Petrofin report The country's shipping industry is growing, but consolidation is well under way
Mixed fortunes for Los Angeles and Long Beach Los Angeles reports strong growth in box volumes as Long Beach traffic declines
Aurora LPG fixes its fleet for the third quarter at $110,000 per day US exports and healthy volumes from Africa and Middle East support VLGC demand
Brokers cautious as demolition rates exceed $500 per ldt Rise follows stability in domestic steel plate prices and currency exchange rates for key markets
Seaspan ponders buying Greater China Intermodal Investments New York-listed owner explores partnership takeover and other options
Russia and Finland agree to share icebreakers The deal allows Arctia to operate near St Petersburg
KNOT lands 20-year time charter for two suezmaxes to shuttle Brazilian oil Charterer is Brazil Shipping, a subsidiary of British Gas
Maersk raises $1.25bn in two bond offerings Proceeds will be used for general corporate purposes
Vale-Cosco deal takes wind out of dry bulk stocks Direct deliveries via valemax to China, while good for Vale and Cosco, could weigh down capesize spot market from 2016
Condensate shipped from US Gulf to drive product tanker growth If US export approvals continue and refiners' projects come on line, demand could rise 5%
IGF Code draft agreed by IMO Sub-Committee The long-awaited International Code of Safety for Ships using Gases or other low flashpoint fuels (IGF Code) has moved a step closer to ratification. The IMO said in a press release that with the Sub Committee on Carriage of Cargoes and Containers (CCC 1) have agreed on the first draft of the code.
Keppel scores another jack-up rig from GDI Singapore's Keppel Offshore & Marine, the world's biggest rig builder, said today its subsidiary Keppel FELS has clinched an order to build another jack-up rig for Qatar-based Gulf Drilling International. The rig, of the KFELS B design, is worth $227M and the order comes with two additional
NMDC profit slumps by half Abu Dhabi-based National Marine Dredging Company (NMDC) reported a 50% slump in profits for 2Q14, citing delays to the start of recently awarded dredging projects in Qatar and Bahrain. NMDC, whose recent projects have included the Das Island airport construction, Abu Dhabi's Corniche Beach
DSME wins LPG pair Daewoo Shipbuilding and Marine Engineering (DSME) have won an order from an unknown Asian owner for two large LPG gas carriers. The two 84,000m³ vessels are scheduled for delivery in 2017 and cost a total of $160M. DSME has won orders for 10 LPG carriers of the same size this year, with four for
APM expands bond portfolio with US dollar issues Danish shipping giant A.P. Møller-Mærsk has expanded its portfolio of bonds by two US dollar denominated issues. The company said in a statement it had raised $750M in five-year paper with a 2.55% coupon, and $500M in 10-year binds that carry a coupon of 3.75%. "The transaction is A.P.
Lower China production a warning for shipping Shipping is set to suffer after data released for August revealed lower Chinese industrial output, an analyst has warned. Industrial production in China rose by 6.9% in August: well below the 24 month average of 9.4%, according to the data released on 15 September. "The growth level is the lowest
Torm chairman warns of debt write off, conversion to equity Flemming Ipsen, chairman of listed Danish product tanker company DS Torm, has said the company's debt may have to be written off and/or converted to equity. "Despite our progress, we are not yet ready to present a concrete proposal for a long term solution to the company's financial situation," he
Samjin Shipbuilding in sale talks Samjin Shipbuilding Industries has confirmed to IHS Maritime that it is in discussions to sell itself due to its financial troubles. Established in 1999, the South Korean-owned company whose shipbuilding facilities are in Weihai in China's Shandong province, found itself mired in financial woes
Tax rules changed for Indian seafarers India's tax authorities have agreed to re-write rules for seafarers on Indian-flag ships to qualify them for non-resident status. The move is intended to end an anomaly that is cited by local fleet-owners as the main reason for an acute shortage of seafarers to man their ships. A seafarer serving on
CNOOC discovers gas in South China Sea China National Offshore Oil Corporation, China's third biggest national oil company, said yesterday that its rig HYSY981 made the first discovery of a deepwater gasfield in the South China Sea. The gas field, tagged Lingshui 17-2, is in the northern part of the South China Sea, said a statement on
Mariner missing in FSO fire A seafarer is missing today after a floating storage and offloading vessel belonging to Indonesian national oil company Pertamina caught fire. The FSO, Cilacap/Permina Samudra 104, caught fire about one nautical mile off Kotabaru, South Kalimantan this morning (16 September). Pertamina officials
Korea P&I Club builds mobile office system The Korea Shipowners' Mutual Protection and Indemnity Association (Korea P&I Club) and a Korean system builder, T2L have developed a mobile office system. The club said in a statement that the mobile system, accessible through smartphone apps, can help employees make swift decisions using
Fifty-eight people held in Singapore over illegal fuel sales Singapore's police coastguard has said that since 2013 it has arrested 58 people for illegally selling marine gas oil. Those arrested comprise 55 foreign crew members and three Singaporean financers. More than SGD22,000 ($17,740) was seized during the course of investigations, as well as six
KNOT fixes two tankers to BG unit Knutsen NYK Offshore Tankers (KNOT) has time-chartered two shuttle tankers to Brazil Shipping, a subsidiary of the UK energy company British Gas (BG). Knutsen NYK is a joint venture between Norwegian tanker owner Knutsen OAS Shipping and Japan's NYK line. The contract will see the tankers transport
Swissco orders its first liftboat Singapore-based offshore oilfield service provider Swissco Holdings has ordered its first liftboat. The company said the contract, worth $56M, has been placed with a Southeast Asian yard. IHS Maritime asked Swissco if the contract is the same as the one announced by Singapore-based offshore vessel
Triyards clinches another liftboat contract Singapore-based offshore vessel fabricator and engineering solutions provider Triyards Holdings said today it has won another liftboat contract, scheduled for completion in 2016 The contract value was not disclosed. The order for the new unit comes soon after the company won two other contracts
Greathorse Chemical gets $95M from SCPE, Tiger Group Tiger Group Investments and Standard Chartered Private Equity (SCPE) will jointly invest $95M in Greathorse Chemical to expand its chemical tanker fleet. Shanghai-based Greathorse Chemical will also be receiving $65M from other investors, taking the total initial investment will be $160M, a company
New attempt to reduce flash point limit at IMO Paper submitted to November meeting says it would improve availability and price of ECA-compliant fuels.
Bulkers collide in Singapore bunker anchorage One vessel started listing.
Crude oil prices keep bunker markets soft Bunkerworld Index is at its lowest level in over two years.
Adapt to global warming as 'we are past mitigation' Heat and CO2 being absorbed by the ocean driving some of the changes that will be felt in the industry, ICS conference told.
Implementation the weak link in IMO regulations IMO makes shipping 'easy to regulate' but results may fall short of intentions due to poor member state follow-up.
'Aspirational' regulations under fire at ICS conference Panel discusses lack of balance between environmental aims and impact assessments, citing sulphur and ballast water regulations as examples.
Asian bunker market weakens further Average to strong demand seen in Hong Kong, despite a lingering typhoon.
Arbitrage volumes rising as freight rates fall October fuel oil arrivals in Singapore set to reach six-month high.
Vietnamese shipowners are 'in debt' 'Insufficient demand and high bunker prices have contributed to sector's plight.'
Bunkering activity suspended in Hong Kong Port closes due to rough weather caused by typhoon Kalmaegi.
Singapore sees surge in illegal bunker sales activities Volumes sold in black market have jumped over 10 times.
More dual-fuel engines ordered from China Engines ordered after 'longer period of evaluation', says MAN Diesel & Turbo.
Antigua to introduce bunkering services Caribbean island is redeveloping its port facilities, says spokesman.
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