Grimaldi contracts Jinling for another three PCTCs The Italian shipowner, Grimaldi Group, has put in another order for the construction of three pure car truck carriers (PCTCs) at the Chinese Jinling shipyard for 2017 delivery, it announced today. The value of the total investment is USD165 million and the agreement includes an option for another
Crisis Response Centre launched in Durban Seafarer charity Sailors' Society has set up a crisis response centre in Durban to provide 24-hour rapid response to seafarers affected by violent incidents in sub-Saharan Africa. The support is provided by a network of port chaplains who have undergone traumatic incident response training. The
Dayang offers $17.73m for Perdana Petroleum takeover Malaysia-listed offshore services provider Dayang Enterprise Holdings has made a conditional mandatory takeover offer for all the shares it does not already own in Perdana Petroleum for a cash consideration of MYR66.6 million (USD17.73 million). According to Perdana Petroleum's filing to Bursa
ICBC Leasing inks $1.1b deal with Seatrade, Jaccar China's ICBC Leasing has inked financing deals worth USD1.1 billion with Belgium-based Seatrade and France-based Jaccar during Premier Li Keqiang's visit to Europe. The agreements with Seatrade and Jaccar were signed on 29 June and 2 July, respectively. ICBC Leasing will extend USD200 million to
First 400,000 dwt ore carrier in two years docks in China The 400,000 dwt ore carrier Yuan Zhuo Hai, owned by China Ore Shipping, arrived at the anchorage of Qingdao on 30 June, the first Valemax ore carrier to call at a Chinese port for two years. AIS data from IHS Maritime revealed that the carrier's destination is Dongjiakou port. Its draft fell from
Australia's Pilbara ore shipments hit record high Exports of iron ore out of Australia's Pilbara port reached a new high for fiscal year (FY) 2015, plunging iron ore prices lower as the world glut continues to bight. Pilbara Port Authority announced on July 2 that it had delivered a record annual throughput of 619.8 million tonnes for the
Investors urged to be cautious with DSME's stocks A sector analyst has urged investors to be cautious when buying the stocks of Daewoo Shipbuilding & Marine Engineering (DSME), advising them to do so only after South Korea's third-biggest shipbuilder announces its earnings for the second quarter of 2015. Samsung Securities analyst Han Young-Soo
JES takes legal action against former administrative officer Singapore-listed shipbuilder JES International and its subsidiaries have commenced legal proceedings against a former administrative officer for the illegal possession of administration records and seals. According to JES' filing to the Singapore Exchange (SGX), Ju Li Li, former administrative
Sainty Marine pays back $3.7m in overdue debts Shenzhen-listed Sainty Marine has paid back a combined CNY22.9 million (USD3.7 million) in overdue debts owed to the Bank of Nanjing. As of 1 July, Sainty Marine had a total of outstanding overdue debts of CNY598.4 million, a stock filing of Sainty Marine said on 2 July. In May, Sainty Marine was
Glut of LNG carriers persists The glut of LNG carriers is expected to persist until 2018, when more LNG cargoes emerge in Australia and the United States. As of June, IHS Maritime's Sea-web.com data show there are 144 LNG carriers and seven floating storage and regasification unit vessels on order that are greater than 60,000
CMES more than doubles its first-half net profits Chinese carrier rides on strong VLCC earnings
Slower West African market ruffles suezmaxes Short-term sentiment dulls but wider picture underlines fundamental strength in market
Grimaldi raises car carriers newbuilding programme to eight Italian owner renews fleet amid increasingly competitive market
Port selection reveals Beijing's concerns about terminal overcapacity But 'euphemistic' wording has left leeway for further expansion in valemax-ready terminals
Respite for Asia-Europe spot rates as GRIs hold Container lines force up rates after capacity adjustments
Tanker values poised to rise above 10-year average, says Hung EXCLUSIVE INTERVIEW: Tanker Investments boss ready to pounce on selling opportunities, but strongly rejects 'gambler' label
Long-term prospects for bulkers still bearish Rally in BDI to be over after Chinese importers complete restocking of iron ore
Wiernicki takes IACS helm ABS boss assumes year-long tenure as chairman of the International Association of Classification Societies
Capesize growth stalls Capes rates fell this week, but the correction may be short-lived
Panama Canal is on track to open its expanded locks in April The new locks at the Pacific end of the Panama Canal began to fill with water in late June in preparation for months of testing of their new gates before they open to commercial traffic next April. The flooding of the Pacific locks, following that of the Atlantic locks earlier in...
Manaus container terminals investing $115 million in upgrades Chibatao and Super Terminais, the two container terminals serving Manaus, are both getting their operational acts together before more competition heats up in the region. The pair is investing a combined 357 million reais ($115.5 million) in new equipment and terminal improvements this year. The Brazilian government this year granted Terminal...
Game on for the ILA Pop quiz, shippers: The following quote appeared when? "We ask that you continue the negotiations without delay, and without impacting commerce moving through the ports. We would further ask that you issue a statement committing to continue negotiating and working without interruption ..." If you said it came sometime during the nine...
Long summer for air cargo as carriers look to fourth-quarter rebound KUALA LUMPUR - Air cargo carriers have low expectations for the summer months but are expecting a traditional fourth-quarter peak season to lift volumes and help counter excess capacity and falling yields.Memories of the solid first quarter have faded as air freight rates dropped to their lowest ever level during...
VOSA eyes IPO Shipbroker and agent Vietnam Ocean Shipping Agency Corporation (VOSA) is to carry out an IPO over the next few months.
Greeks selling to Nigeria The Nigerian Ship Owners Association (NISA) has announced a deal with Greek owners to buy 40 vessels.
ITF's double mission The International Transport Workers' Federation (ITF) is planning a two-pronged assault on substandard conditions in east Asia and the Black Sea.
Search called off New Zealand authorities have called off a search for a crewman who fell from a containership on Wednesday.
Vroon unifies again Dutch owner Vroon is simplifying its operations for the second time this year by renaming subsidiaries.
Tallink holds steady Estonian ro-ro group reports relatively unchanged figures for the second quarter of 2015.
Valemax ban not dead yet China has taken next-to-last step in the slow process of allowing giant ore carriers back into its ports.
Ferry death toll rises The Philippines coast guard says 41 people have now been confirmed dead in a ferry capsize.
Stena RoRo takes trio Sweden's Stena RoRo is chartering in three vessels from Godby Shipping of Finland to cope with market growth.
IPO sideshow Shares sale and downgrading of a rival by underwriter may have contributed to Gener8 undershooting.
Happily ever after? We take a look at what was said in the market over the past week.
Subsea 7 splashes $10m Oslo-listed Subsea 7 has bought back convertible bonds worth $10m in market deals this week.
Fund lifts DCIX stake A US hedge fund has continued to increase its stake in Diana Containerships, latest disclosures to US regulators show.
Lauritzen ASV delayed Axis Offshore has delayed the delivery of a semi-submersible accommodation vessel on order in China and may even cancel it.
Baltic bunkers a step closer Plans to develop a small LNG bunkering facility in the Baltic Sea moved a step closer to reality on Thursday.
Ezra considers vessel sale Ezra Holdings is said to be exploring a possible sale and leaseback of its ice-class DP3-rated pipelay construction vessel.
No 'prosecution' A string of lawsuits recently filed against affiliates of Today Makes Tomorrow (TMT) chairman Nobu Su will not be prosecuted until February, a lawyer for the Taiwan-based shipowner said.
Congestion seen at Singapore's oil terminals With land storage full, traders search for floating storage.
Major bunker deal in the pipeline Bunkering giant in advanced talks to buy global bunker broker.
Developing the bunker sector will need a 'national will' Iran official says expanding the bunker industry will require approving international 'regulations and conventions'.
Bunker station to target long-haul traffic Bunker project could become part Indian federal government's programme to promote 'port-led development'.
Bunkering firms and creditors take TMT to court Seeks to recover a total of $26.4 million from 17 TMT affiliated firms.
Containerships weighs up fuelling options 'The idea is to have them all with LNG and we are still going for that - but anything can happen.'
Player to join Arabian Sea bunkering market Unnamed firm targeting 'big vessels' sailing off India's southwestern coast.
Report: LNG bunker uptake 'slower than hoped' 'Pressing need' for LNG bunkering presence in South East Asia, notes Tri-Zen.
Gothenburg offering LNG as marine fuel In preparation for arrival of several LNG-powered vessels next year.
Reports: Turkey eyes Iranian fuel oil exports Iran in move to increase fuel oil exports.
Report: LNG bunker uptake 'slower than hoped for' 'Pressing need' for LNG bunkering presence in South East Asia, notes Tri-Zen.
Firms mull construction of 'small-scale' LNG bunkering stations Agreement to develop European LNG infrastructure inked.
Gothenburg starts offering LNG as marine fuel In preparation for arrival of several LNG-powered vessels next year.
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