DS Torm orders four LR2 tankers in first deal since 2008 LR2 tanker Torm Kristina. Credit: HasenpuschDS Torm, the listed Danish product tanker company, says it has placed an order for four LR newbuildings with Guangzhou Shipyard International (GSI) with expected delivery in the period between 4Q17 and 2Q18. "The agreement includes the option to purchase up to six additional vessels within...
Germany's tramp sector looks into the abyss A typical tramp ship. Credit: Martin WrightGermany's once-proud tramp shipowner sector is looking down a precipice as the slump in the container ship charter market worsens. To make matters worse, the sector's banks are losing patience with defaulting shipping customers. Anecdotal evidence suggested that insolvencies of KG one-ship companies and fire...
Transas ECDIS first to pass new IHO & IEC standards November 2015. Transas Navi-Sailor 4000 ECDIS is the first system in the market to pass all DNV-GL tests according to the new IHO & IEC standards. The new generation of the Transas ECDIS complies with the latest requirements and provides a number of features beyond this. The production of the new...
Thorco to add five ships to fleet One of Thorco's existing fleet. Credit: Thorco Shipping Global project and breakbulk carrier Thorco Shipping has announced the acquisition of five large tweendecker mpp (multi-purpose) vessels in a drive to renew its fleet. The ships are 18,000 dwt units, each equipped with three cranes to give a maximum lifting capacity of...
More container consolidation, but there are limits As the industry awaits the outcome of CMA CGM's negotiations over a potential deal with Singapore's NOL, speculation has turned to other potential consolidation in the container line sector. Intriguingly, Maersk Lines chief operating officer Soren Toft, whose company had been challenging CMA CGM to take over NOL, said recently...
Bulk carrier Jinhui reports big loss on weak markets One of Jinhui's owned bulker fleet. Credit: Fotoflite Hong Kong-based dry bulk shipping company Jinhui Shipping & Transportation has reported major losses for both 3Q15 and for the first nine months of the year which it has attributed to a weak freight market and losses from investments. The group's net loss amounted...
Adaro Energy plans contract of affreightment with Philippines Photo: PAIndonesia's second-biggest coal producer, PT Adaro Energy, is arranging a contract of affreightment to ship coal to the Philippines. Sources told IHS Fairplay that at least 10 panamax bulkers a year would be required to fulfill the contract. Although demand from China, the world's biggest coal importer, has been weakening, the Philippines has been...
TEPCO-Chubu Electric joint venture eyes Singapore coal trading Officials at the launch of the JV in April. Credit: PAThe recently formed thermal fuel venture between Japanese utility companies Tokyo Electric Power Co (TEPCO) and Chubu Electric Power has set up a subsidiary in Singapore to trade coal and charter bulkers. JERA Co Inc, which began operations in Japan in...
Robotics and big data central to port innovation The research was commissioned by DP World. Photo: PAInnovation in robotics, driverless vehicles, big data, and simulation software will be more important to port operations in the next decade as shrinking global trade volumes emphasise cost-cutting and efficiency. A new piece of research commissioned by global port operator DP World says...
Thailand's Laem Chabang plans infrastructure projects worth $167m Thailand's Laem Chabang port is undertaking three key infrastructure projects worth THB6 billion (USD167 million) to improve efficiency and expand its position as a trade hub for ASEAN, according to port director Montree Rerkjamnian. Local press reports said Laem Chabang is currently seeking a contractor for a THB1.8 billion container...
Ferry forced to transfer passengers after hitting debris An Indonesia-registered ferry was forced to transfer its passengers to another vessels on 29 November after hitting a floating object during its journey from Batam, Indonesia to Singapore. Sea Prince, the 1976 built passenger ship with IMO number 88843408, was carrying 97 passengers, including 51 Singaporeans and 7 crew. It departed...
Euronav sold a 1998-built suezmax tanker for $22m Crude tanker owner reaps capital gain on sale of $11.1m
Golar LNG eyes Iranian opportunities Iran has capacity to employ as many floating liquefaction vessels 'as we dare to dream', says Golar Management boss Smith
Euronav board exits clear the way for independent growth Increased independence and diversification of the board was always part of the grand plan says tanker giant as key long-term backers Peter Livanos and Marc Saverys step down
Hapag-Lloyd to pay off high-interest bond German line refinances to pay down debt
Scorpio Tankers drops four MR options Emanuele Lauro-led product tanker player also extends time charter period for LR2 ship
European companies have Iranian advantage over US competitors Lifting of sanctions against Iran does not immediately include US companies, or US nationals
PLA appoints new chairman Christopher Rodrigues to take helm of Port of London Authority
Rickmers Maritime exits creditor agreement Tight restrictions now lifted, giving it more financial flexibility and easing trust's path to growth
Höegh LNG reports strong third quarter amid FSRU demand Oversupplied LNG market bodes well for FSRU demand growth, says company
Euronav taps new chairman as Peter Livanos resigns Seasoned ship finance banker Carl Steen is named to lead board
Long-haul LNG shipments to India to shrink in 2016 Indian buyers have gravitated toward buying cheaper spot LNG amid lower oil and gas prices
Hong Kong Shipowners' Association elects new executive committee members Sabrina Chao picked as association's chairman
IMO picks new 40-member council Members remained mostly unchanged from the 2014-2015 biennium
Egypt launches East Port Said development project Project to provide more jobs for young people in the country
Wisdom Marine posts strong results amid dismal dry market Year-to-date revenue for end-October rose 17.2% compared with the year-ago period
Euroseas sells 1993 containership for recycling Bulkers and boxships operator trims net loss to $1.4m
It's the climate, stupid There is still much to play for at the Paris climate talks
Prepare for the winds of change from Paris Latest UNFCCC meeting could push more CO2 reduction demands on shipping
Make them listen, make them remember It is still a struggle to get the message of maritime importance out to the wider population
Werner hikes pay to retain, recruit solo drivers Werner Enterprises, the fifth-largest truckload carrier in the U.S., is raising solo driver pay by an average of $5,000 annually, the latest sign of how motor carriers are forking out more to keep and attract drivers ahead of serious demographic headwinds. The pay increase for solo drivers comes on the heels...
Oakland raises crane heights ahead of expected mega-ships The Port of Oakland is increasing the height of four ship-to-shore cranes so they will be capable of working the largest container ships now calling at U.S. ports, and even larger vessels in the future. The existing cranes, which are 13 years old, will be raised 26 feet higher, and they...
North Carolina port seeks to punch with South Atlantic heavyweights The Port of Wilmington, North Carolina, is using a newfound infusion of $35 million in annual state funds to expand its container facilities, dredge its harbor, and try to escape the shadow of its larger regional competitors. With a U.S. East Coast market share that for years has been less than...
Chemical tankers sold Glovis said to be buyer of tankers owned by Principal Maritime and Nisshin Shipping.
Slots now an issue for ferry arrested in US Casino company seeks access to arrested ferry Nova Star in order to retrieve assets.
GulfMark shares leap Shares in Houston offshore vessel owner increase by 20.8% on New York Stock Exchange.
Euronav books $11m gain on suezmax sale New York and Brussels-listed owner confirms Cap Laurent offloaded for nearly $22.3m.
Vitol aims to continue Libyan export scheme The Swiss trader, which has supplied Libya since 2015, said it hopes to renew deal.
Seal bite leads to rescue by UK military Navy and air force send assets to help cruise passenger injured in wildlife encounter
Lender restrictions ease for Rickmers The Singapore-listed boxship operator said the move improves 'financial flexibility'.
Hoegh Partners logs slight restatement Parent Hoegh LNG Holdings pays indemnification to spinoff over Indonesian tax issue.
Golar mulls sale of fleet of six LNG carriers New York-listed owner turns focus to FLNG units as it reports in-line quarterly loss.
Frontline returns as merger is approved John Fredriksen's plans to bring together his two tanker companies get shareholders' green light.
'Grand plan' comes together Watershed as Euronav founders step down from board, as world's largest quoted-tanker firm aims to attract bigger investors.
Grupo TMM turns red Mexican owner posts loss for the third quarter of the year despite a 9.2% increase in revenue.
Hapag-Lloyd splashes cash Newly-listed container line spending $125m on buying back expensive US bonds.
Fixtures at three-year low Braemar ACM says October's offshore bookings fall, but lay-ups causing rate spikes.
Wrist acquires Den Helder Danish ship supplier expands in the Netherlands as it buys partner.
Buhari takes aim Nigerian president blasts owners, oil companies and banks for "aiding and abetting" corruption.
Seacor unit changes hands Offshore marine subsidiary of US owner issues $175m in convertible notes to Carlyle Group.
Scorpio drops MR options US-listed owner says Mipo tanker quartet will not be built as it seals $36m loan to refinance LR2.
Shin Yang on the rise Diversified Malaysian shipowner pushes up its profit despite posting smaller revenue.
Korean duo downgraded KIS cuts ratings for HMM and Hanjin Shipping in difficult markets.
Interorient clinches $114m loan EBRD coughs up the cash to allow Cyprus-based manager to boost fleet.
Shreyas in new JV Indian boxship owner forming logistics company with Japan's Suzue Corp.
Yangzijiang buys into ZLPFL Chinese shipbuilder splashes out $15.6m for 40% stake in new leasing firm.
Russian tanker spills oil Clean-up begins on Sakhalin Island after veteran vessel runs aground in storm.
Eleven crew feared dead Eight other seafarers rescued after Chinese cargoship sank off the Philippines.
Abducted sailors safe Five Polish seafarers kidnapped in Nigeria on Friday make contact with families.
Torm confirms return to newbuilding arena Danish owner says four firm LR2s are costing $200m, with six options in place at its favoured Chinese yard.
Dof sells again Owner offloads second vessel this month as OSV heads to Australia.
Steen takes the chair at Euronav Peter Livanos and Marc Saverys step down as tanker owner seeks to diversify board after US listing.
Hoegh LNG back in profit Norwegian owner turns around loss as it benefits from Egas charter of FSRU Hoegh Gallant.
Pacific Richfield fleet put up for sale Singapore offshore vessel operator undergoing company sponsored restructuring exercise.
Jinhui books $32m loss Stock market slide and weak freight rates take their toll at Hong Kong and Oslo-listed shipowner.
Batam ferry runs into trouble Fast ferry reported to have floating object after leaving the Nongsapura ferry terminal in Batam.
ICS, BIMCO explain supply/demand issues of global sulphur cap Scrubber uptake and increased fuel efficiency important factors; enforcement bigger challenge than in ECAs.
Market 'living dangerously' due to lack of credit discipline Low oil prices making it too easy to deal with companies that have limited capital.
Singapore Dec ex-wharf 380 bunker fuel concludes at premiums of $1-$1.50/mt Incoming western volumes for December expected to be mostly bunker market ready or cracked material.
Iran: 'State-owned company returns to international bunker market' 'The NITC's oil tankers loaded their first bunkering consignment on Monday.'
Additional rotor sail increases vessel's fuel efficiency Second prototype installed in November 2015, says shipping firm.
Egypt: Bunkering firm and players to develop Ain Sokhna port Agreement signed to build harbour for petrochemical and gas operations, says report.
Rise in MFM-equipped bunker tankers at Singapore Number has increased to 48, showed data from Maritime and Port Authority of Singapore.
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