Two killed in Pemex offshore accident Mexican government-owned oil company Pemex has confirmed that two offshore oil platform workers were killed after a jack-up rig collapsed in the Bay of Campeche in the Gulf of Mexico. It said that the accident on 5 May occurred when one of the legs of the jack-up rig Troll Solution, operated by
IM Skaugen cuts loss and continues to drive direction change IM Skaugen (IMSK), an Oslo-listed small LPG carrier and lighterage tanker operator, has cut its losses and continues to drive a strategic change of direction. Group net losses for the first quarter were reduced to in 1Q15 to USD4.6 million from USD6.7 million in 1Q14. The operating result (EBIT)
Maersk Tigris leaving Iran's waters A container ship arrested by Iran's Revolutionary Guard on 28 April is today on the move, IHS' AISLive data confirmed. Maersk Tigris was arrested by the Iranian Revolutionary Guard while transiting the Strait of Hormuz on 28 April. "The Maersk container ship was released and it has left Iranian
Two Hong Kong marine officers to face trial over collision Two Hong Kong maritime officials facing charges over a vessel collision which claimed 39 lives in 2012 will go on trial on 26 May. Ping-chi So, 58, Hong Kong Marine Department assistant director, was charged with one count of misconduct in public office, while retired senior boat inspector,
Celestyal Cruises goes for growth in Cuba The Louis Group's Celestyal Cruises has increased its holding in the recently created Cuban cruise operator Cuba Cruises in the wake of the recent thaw in relations between the US and the Caribbean island. Celestyal Cruises told IHS Maritime that it was already the majority partner in Cuba Cruises,
Korea Line hit by USD37 million compensation order South Korean dry bulk shipping company Korea Line Corporation (KLC) has been ordered to pay an amount equivalent to 8.15% of its equity capital in compensation to Greek shipowner Carras Hellas. The London Maritime Arbitrators Association has ordered the payment of USD37,642,862 to Carras Hellas in
Costamare offers preferred equity US-listed shipping companies are increasingly shifting to sales of perpetual preferred shares as opposed to common equity, with yet another preferred deal just announced. On 6 May, container-ship lessor Costamare priced the sale of four million perpetual preferred shares at a dividend rate of
Box ship in collision leaves Yangon port Officials have allowed a container ship involved in a collision with a sand carrier in Yangon port to leave the port. Singapore-flagged Panja Bhum collided with sand carrier Zwe Myint Myat Tun 3 near Ahlone dockyard on 26 April. The impact of the collision caused the sand carrier to break up into
Two Sainty Marine executives resign Shenzhen-listed Sainty Marine's general manager and deputy general manager have ended their stints at the company recently, as the company had defaulted on a CNY63 million (USD10 million) bill of exchange. Wang Junmin, general manager, and Li Jiu, deputy general manager, resigned from their
KR to enhance safety of domestic ferry operations The Korean Register of Shipping (KR) has started providing guidance on domestic ferry safety to South Korean government agencies. The South Korean classification society has established an online service, called KR-KORPASS, to provide information about the kinds of classification KR has performed,
Evergreen Line to launch VSM service in May Taiwanese carrier Evergreen Marine Corp will launch a Vietnam-Singapore-Malaysia (VSM) service on 10 May to enhance its Southeast Asian shipping network. Two 1,164 teu box ships will be deployed for this new service, and the voyage will take 14 days. The VSM service is expected to commence from
Mixed signals for port development in Thailand Port development in Thailand is getting mixed reactions from the local people and businesses, a government official said. Plans to build a port at Pak Bara in Thailand's west coast to be linked by road to an expanded port at Songkhla on the east or gulf coast of the country have become a "problem".
Heidmar, TBS start bulker pool alliance Tanker pool operator Heidmar and New York-based TBS Ocean Logistics said on 7 May that they are working together to strengthen the latter's bulker pool operations. The agreement brings together the strengths of the two companies to service shipowner clients with a geared bulker pool. Heidmar will
Maersk moves China chairman office to Beijing Maersk Group announced on 6 May that it will relocate the office of the chairman of Maersk China and North Asia's group representative from Hong Kong to Beijing as of 1 July. Maersk China chairman Tim Smith will relinquish his other position as CEO of North Asia Region for Maersk Line as of 1 July
CH Offshore's profit drops 35.1% in Q3 Singapore-listed offshore services provider CH Offshore posted lower profit of USD3.8 million, down 35.1% year on year (y/y) for the third quarter of financial year (FY) 2014/15. The decline in profit was followed by the lower revenue of USD7.79 million in third-quarter FY 2014/15, down 13.1%
Indonesian coal output to decline Indonesian coal miners may produce less coal this year in an attempt to turn around the drop in commodity prices, presenting another challenge to the depressed dry bulk shipping market. The Indonesian Coal Mining Association has said that it believes that coal production will total 350-400 million
Worst to come for FPSOs in 2015 This year is not promising for new FPSO contracts as the corruption scandal engulfing Petrobras and weak oil prices are likely to discourage oil companies from going ahead with final investment decisions, said IHS Petrodata in a recent report. IHS Petrodata analysts Ang Ding-Li and Kelvin Sam
Liner alliances drive investment in ultra large boxship newbuildings Ship brokers estimate 500,000 teu in new capacity has been ordered in first quarter
OSG keeps tight-lipped on merger rumours and share offering but hints at growth US tanker company, which emerged from Chapter 11 bankruptcy last August, says scale is important to its business
OSG profit hits $43m on vigorous tanker market New York-listed tanker company's VLCC spot rates climb 54%
TSA targets consecutive monthly GRIs Carrier group recommends $600 per feu GRIs for June and July in response to peak season demand
Rickmers confirms Maersk Tigris released Iranian authorities end 10-day stand-off, allowing vessel to sail to Jebel Ali
Skaugen seeks refuge in LNG Company transforming itself into more of a liquefied natural gas carrier for the small-scale LNG regional markets because it sees lower demand in other areas
Rio Tinto defiant over its production tactics Short-term capacity production is expected to come from 'brownfield expansions' rather than new infrastructure
CSSC yard wins orders for six 11,000 teu boxships Waigaoqiao is to build the vessels for a European shipowner
Costamare scores $100m from preferred stock offering Proceeds may go towards acquisitions, says owner
Seattle, Tacoma port alliance behind schedule, but one step closer They're a few months behind schedule, but Seattle and Tacoma are one step closer to solidifying their Northwest Seaport Alliance, after submitting a final draft of their agreement this week. The draft was originally expected to be sent to the Federal Maritime Commission for approval in late March. The process, however,...
Carriers to FMC: 'No simple answers' on demurrage The World Shipping Council urged the U.S. Federal Maritime Commission not to apply a broad regulatory brush to highly specific disputes over demurrage and detention fees for late pickup or return of containers at congested ports. "The question of whether a charge for detention or demurrage may be in violation of...
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German train drivers nix mediation, will strike until Sunday LONDON - German train drivers will continue their strike until Sunday after their union today rejected a proposal from Deutsche Bahn, the state-owned railway, for an independent mediator to help resolve their dispute. The GDL union dismissed the suggestion as a "PR stunt," claiming the company was attempting to "buy time." The...
Port Metro Vancouver takes step toward new container terminal Twin-terminal superport facility at Roberts Bank.Port Metro Vancouver, Canada's largest port, is a step closer to building a new container terminal. The port has submitted an environmental impact statement for a new three-berth container terminal in Delta, British Columbia. The terminal at Robert Banks, where the port already supports a twin-terminal...
Acquisitions, new customers fuel growth for asset-tracker Orbcomm Revenue at asset-tracking company Orbcomm shot well beyond the stratosphere in the first quarter, surging 149 percent to $42.3 million thanks to acquisitions and organic growth. Much of that growth was fueled by the acquisition of SkyWave Mobile Communications, a Canadian-based competitor, which gave Orbcomm 250,000 new subscribers in the first...
GT USA hires commercial manager for U.S. headquarters at Port Canaveral Port Canaveral, Fla. - May 7, 2015 '- GT USA is pleased to announce the hiring of Joe Cruise as commercial manager at the company's new container and multipurpose cargo terminal. With more than three decades of experience in the international and domestic shipping and ports industry, Cruise will be responsible for leading...
Machine-to-machine technology brings visibility to reefer shipments The next frontier in refrigerated cargo visibility is here, and it doesn't involve just tracking a container. No, the latest technology, made possible by machine-to-machine communication and the Internet of Things, not only allows for that, but also for controlling a container remotely to protect its contents throughout the journey,...
Container ship lessors continue their buying Vessel acquisitions by U.S.-listed owners have dropped dramatically this year. The only public companies that are still buying in both the secondhand and newbuilding markets are container ship lessors. According to an analysis by IHS Maritime, a sister product of JOC.com within IHS Maritime and Trade, there have been just 29 ships...
APM Terminals Itaja' sets productivity record Itajaí, Brazil - APM Terminals Itaja' set a new productivity record by completing 125 berth moves per hour (BMPH) on April 26 while working the 8,600-TEU-capacity Maersk Lamanai. The vessel, part of the weekly Europe-east coast of South America Samba Service, docked at 2:00 p.m., with the terminal performing 1,106 container moves by the...
Waberer's expands in western Europe, adds trailers as revenue rises Waberer's International, one of Europe's largest trucking operators, is purchasing 500 new trailers as it expands business in Germany and its freight-hauling network in western Europe. The Hungarian full truckload carrier will purchase 500 trailers from German equipment maker Schmitz Cargobull, Gy-rgy Wáberer, founder, chairman and CEO of Waberer's, said May...
Evergreen launches Vietnam-Singapore-Malaysia service JERSEY CITY, NJ (May 7, 2015) - In light of the increasing capacity demand, Evergreen Line will launch its new Vietnam-Singapore-Malaysia service (VSM) this month. The dedicated feeder loop will utilize two A-type container ships of 1,164 TEU capacity. The first sailing of the weekly service will start from Haiphong on May 10 and call at Ho Chi Minh City,...
Trailer Bridge lawsuit claims Crowley violated patent Trailer Bridge has filed a lawsuit accusing Crowley Liner Services, a competitor in the U.S. mainland-Puerto Rico trade, of violating Trailer Bridge's patent on reach stackers for lifting containers on and off barges. The lawsuit in U.S. District Court in San Juan claims Crowley infringed on Trailer Bridge's patented method of using...
APM Terminals refutes claims of Nhava Sheva GTI gate delays APM Terminals in Jawaharlal Nehru Port Trust (Nhava Sheva) - India's busiest container port complex - strongly refuted a trade advisory by logistics providers blaming the deteriorating terminal gate activity for long truck queues outside its facility, known as Gateway Terminals India. "All the gates are functioning efficiently, and the dedicated...
A DNA change for West Coast shippers Data such as West Coast-East Coast market share, volumes and growth rates will ultimately tell the story of how damaging the months-long longshore labor standoff was for West Coast ports. Was the nearly year-long stretch of disruption and uncertainty a one-time episode in the minds of shippers that has now...
Costamare expects minimum of $100 million from stock offering LONDON - Costamare is set to pocket more than $100 million from an offering of preferred stock in the Greece-based container ship owner. The New York Stock Exchange-listed company said it plans to use the net proceeds for general corporate purposes, including vessel acquisitions or investments. The offering of 4 million shares,...
Iran releases detained Maersk container ship Credit: AIS Live The Maersk Tigris is under way using engine at 18.5 knots, ETA Jebel Ali May 8. This is fast considering most ships in the strait sail at less than 15 knots. Iranian authorities released the container ship Maersk Tigris on Thursday, nine days after it was seized by Iranian...
Hopes grow for early end to German rail strike LONDON - A week-long strike by German locomotive drivers that is scheduled to run until Sunday could be called off earlier as their union considers calls for an independent mediator to settle the dispute with Deutsche Bahn, the state-owned railway company. The GDL union said it would decide this afternoon whether...
APL Logistics on the expansion trail while sale is sewn up HONG KONG - APL Logistics is not standing still while its acquisition by Kintetsu World Express is finalized and today announced plans to expand its presence in Indonesia, the second major investment since being sold.The logistics unit of Neptune Orient Overseas was sold to KWE for $1.2 billion earlier this...
Quantum quartet for Royal Royal Caribbean Cruises has ordered its fourth Quantum-class cruiseship at German shipyard group Meyer Werft.
Wilh Wilhelmsen gains Wilh Wilhelmsen ASA (WWASA) reported higher operating earnings in its shipping business as an improved cargo mix and cost reductions bolstered the Norwegian company's results.
Apollo selling Princimar Private-equity backer Apollo Global Management is ditching attempts to take suezmax owner Principal Maritime public and will seek a buyer for the company, TradeWinds has learned.
Mixed ruling for KGs A UK judge has thrown out claims by Harms Bergung Transport and Heavylift that six German limited partnership (KG) owners violated their partnership agreements when they sold offshore vessels to a company later taken over by Teekay.
Fiori sounds dividend hope Marco Fiori is confident d'Amico International Shipping will reintroduce a dividend for the coming year.
ESL Shipping holds steady ESL Shipping has maintained "good" profitability in tough first-quarter bulker markets.
Farstad sells and lays up Farstad Shipping has disposed of its oldest vessel for a NOK 15m ($2m) loss and laid up two more ships.
Mixed result for NCL The takeover of Prestige Cruises has turned Norwegian Cruise Line Holdings' bottom line red for the first quarter but also made revenue surge.
Great Eastern prospers India's Great Eastern Shipping (GE) has seen profit increase sharply as revenue grew in the fourth quarter.
BLT turns negative Indonesian tanker owner Berlian Laju Tanker (BLT) has posted a loss for the full year 2014 as revenue declined.
Belships starts in red Norway's Belships has suffered a loss for the first quarter of the year, deleting the small profit posted in the corresponding period.
OSG sees profit surge Overseas Shipholding Group has reported a sharp rise in first quarter profit in the week it announced plans to return to the New York Stock Exchange.
Hildan heads for new role Respected Clarksons Platou shipping analyst Herman Hildan has this week jumped the fence to join the company's corporate finance team where he will focus on metals and mining.
Fund builds Siem stake Siem Offshore has revealed that hedge fund Spruce House Partnership has taken its stake in the company higher than 5%.
ENVC faces $329m bill Portugal's Estaleiros Navais de Viana do Castelo (ENVC) shipyard will have to pay back EUR 290m ($329m) in illegal state aid.
Western Bulk still braced Western Bulk continues to brace itself for a bad market with a change in the demand picture needed to help rates recover from from 30-year-lows.
Who's next? The list of platform supply vessels (PSVs) and anchor-handlers laid up in a terrible North Sea market has reached 29.
Parakou parks Nasdaq drive Parakou Tankers' protracted efforts to reverse onto the Nasdaq Stock Exchange have today ended in failure.
Otto dismisses $9m claim Otto Marine has expressed its optimism that it will manage to avoid paying an $8.88m claim made by a holding company over the financing of two vessels.
Chowgule loss balloons Indian bulker owner Chowgule Steamships has posted a bigger deficit for the year to 31 March as revenue declined.
Viking loses more Viking Supply Ships has seen its net loss for the first quarter almost double, reflecting a tough time for offshore owners.
Box Ships stacks shelf US-listed Box Ships has registered to sell shares and securities worth up to $250m.
Maersk Tigris released The Maersk-chartered boxship Maersk Tigris seized by Iranian forces last week is heading out of Iranian waters.
Profit cut at AKPS Aker Philadelphia Shipyard (AKPS) has seen its profit almost erased during the first quarter due to currency losses.
Crewman jailed for murder A seafarer who beat a ship engineer to death with a log has been jailed for three and a half years in Singapore.
Vietnam's $2bn bill Vietnam needs to spend at least $2bn to modernise its fleet.
Skaugen cuts Q1 loss Norway's IM Skaugen Group has reduced its red ink in the first quarter as costs fell.
Cash for Wobensmith Genco Shipping & Trading president John Wobensmith is set to pick up a nice tidy bonus for his efforts last year.
CCL newbuild China bound Carnival Corporation says it is to send its first cruise ship newbuilding to be homeported in China starting from 2017.
ABP to mark VE Day ABP says it is supporting the UK Maritime and Coastguard Agency's (MCA) initiative for Victory in Europe Day (VE Day).
CPLP extends Alkiviadis Capital Product Partners has secured a further twelve months employment for one of its chemical/product tankers.
Heidmar enters dry New alliance with TBS Ocean to combine two players' operating strengths in geared bulker JV.
'Pressing need' to establish LNG bunkering in South East Asia Asia has been 'slow to wake up to the potential for LNG as a marine fuel'.
Nor-Shipping announces 2015 award nominees Recognising fuel efficiency and innovative ship design.
IM Skaugen sets store by small-scale LNG Poor result prompts change of focus.
DFDS to share emissions data Live SOx and CO2 readings from scrubbers will be made available to the public.
Cargo ship in Singapore detention Vessel controlled by Polish/Chinese interests.
Alfa Laval seals RCL scrubber deal Includes space-saving, inline unit.
Fuel oil stocks climb, but overall, imports are down Sharp falls in Singapore arbitrage arrivals from Russia, the UAE and the United States.
Bunker player granted Fujairah licence Gulf Petrochem says move complements Group's growing global footprint.
Fuel purchasing software brings 'cloud' to shipping Inatech claims 5% fuel savings across fleet operations from cloud-based IT.
'Demand for low-emission propulsion systems is increasing' Swiss technology company sees strong demand for compressors that supply fuel gas to marine engines.
Dan-Bunkering expands Middle East operations Employs Emad Alrifai as bunker trader at its Dubai office.
Low bunker prices are contributing to shipping glut Freight rates to remain weak for the next five years, or longer, says investment bank.
New credit risk manager at Brightoil Raymond Tan joins Brightoil from Ocean Intelligence Asia.
US shipyard launches fuel efficient OSV Vessel offers 'maximum cargo carriage and minimised fuel consumption', says designer.
Panama aiming to be LNG distribution hub Sector offers a 'big future' for Panama, says government spokesman.
Strike affects bunker avails at Hamburg Disruption expected to last until Saturday, says observer.
Fuel oil stocks in China marginally up Fuel oil volume at Shandong province hit 25-month high.
Crude firms as US stockpiles drop American supplies fell by 3.88 million barrels last week.
Matson to install scrubbers on Alaskan containerships But 'unlikely' to install systems on Hawaii Guam and China fleet.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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