Insurers bemoan weighty problems of cargo misdeclaration Moves by shipping companies and ports to tackle the issue of overweight containers onshore have been welcomed by insurers with the warning that operators and ports need to ensure they have their facts right. In recent weeks Hapag-Lloyd AG and port operator APM Terminals have gone public on the problem. Hapag-Lloyd has...
Wilhelmshaven box throughput picking up Wilhelmshaven. Credit: AffeldtCargo volumes at Germany's new deepsea container terminal in Wilhelmshaven gained traction this year after a very slow start that forced it to send its workforce on a short-time labour scheme. According to Olaf Lies, the state minister of economics of Lower Saxony - one of the two...
CMA CGM's NOL takeover offer below book value, says Alphaliner Credit: Maritime PhotographicThe price Temasek will get for NOL from CMA CGM if the takeover deal goes ahead is below the book value of the company, according to container shipping analyst Alphaliner. At SGD1.30 per share, the deal values NOL at USD2.41 billion, or 0.96 times the book value of the...
German investigators pull out of Costa Concordia/Norman Atlantic probes over Italian 'interference' Costa Concordia. Credit: PAThe German marine accident investigation branch (BSU) has pulled out of investigations into two major ship casualties in Italy out of frustration over conflicts of competence between relevant authorities. The Hamburg-based agency, which belongs to the federal ministry of transport, said yesterday that it had quit its...
Spot fixtures, second hand sales suggest deepening dry bulk gloom Capesize Pierre LD sold for less than its estimated value. Credit: FotofliteRecent spot fixtures and second hand sales of dry bulk carriers strengthen the view that the sector's gloom is deepening and that it is suffering from structural rather than cyclical weakness, but the fact that ordering of newbuildings has...
BW LPG raises stake in Avance Gas Holding's takeover target Aurora LPG BW LPG's BW Trader LPG tanker. Credit: Daniel FerroBW LPG, the Singapore-based VLGC owner listed in Oslo, has raised its stake in Aurora LPG, another listed VLGC owner, to 12%, which shipping analysts view could trigger a bid for the company that is already an acquisition target for Avance Gas...
South Korea's Hayne Shipping bucks market trend Evelyn Hayne (ex-Fearless I). Credit: HasenpuschSouth Korea's Hayne Shipping has asserted it has been profitable since its establishment and expects to stay in the black for 2015, amid a string of insolvencies and financial difficulties among dry bulk shipping companies. A company executive told IHS Fairplay that ahead of the market...
Samsung Heavy veteran staff to help Sungdong yard A Samsung Heavy Industries yard. Credit: IHS/Crystal ChanFrom the start of next year, South Korean shipbuilder Samsung Heavy Industries (SHI) will deploy its veteran staff to compatriot mid-tier shipbuilder Sungdong Shipbuilding & Marine Engineering. The veterans will comprise engineers and naval architects, as well as sales executives. The move is part of an agreement...
Malaysia study to focus on government role in port development Port Klang, Malaysia. Credit: PAAligning the roles of different levels of government, in particular the critical role by the states in the provision of land for development, is a key challenge being addressed in the study currently under way that will form the basis of Malaysia's National Port Strategy. "Malaysia lacks...
As tanker rates surge, tanker stocks tumble Evercore ISI analyst Jon Chappell. Credit: Chris Preovolos/Marine Money.Shares of US-listed tanker companies are slumping just as tanker spot rates are hitting multi-year peaks. "I've never in my 15 years of covering shipping seen such a disconnect between rates and stock prices," said Evercore ISI analyst Jon Chappell in an...
Munich Re to rebrand Watkins Lloyd's energy and marine specialist to be known as Munich Re Syndicate
Industry coalition offers transparency on mandatory box weighing WSC, TT Club, ICHCA and GSF publish 'FAQ' document as regulatory guidance for stakeholders
HHLA chairman to stand down Klaus-Dieter Peters will not seek to extend term after 2016
Lloyd's List wins top journalism awards Journalist of the Year and International Editor of the Year awards scooped by Lloyd's List editorial team
Shipping removed from latest Paris Agreement draft Reference to IMO and marine bunkers absent from latest COP21 text
Tsavliris quits ISU executive after reprimand for Greek salvor New salvors' president John Witte says the sector faces wider image problem
No let-up in declining Asia-Europe traffic Negative volume growth recorded for eighth consecutive month
Low cost of NOL sale could hit other deals Temasek's sale for less than book value will have implications for other mergers
Nantong Mingde assets to be sold online this weekend Court announces Sunday auction on Tabao, China's equivalent of eBay
BW LPG buys 10% of Aurora as Avance's bid hits hurdle VLGC owners circle Aurora but who will take the spoils?
Asian robbery and piracy incidents decline for third consecutive month No incidents in November on eastbound lane of Malacca Straits: ReCAAP
Spot LNG cargoes on the rise in Asia Pacific market Growing spot market will help absorb excess tonnage and lift charter rates
Jiangsu Hantong wins up to eight LR1 tankers Deliveries scheduled from late 2017
Rotterdam port ro-ro trade ramps up A number of shippers are moving cargoes to the UK through Rotterdam instead of Calais
MOL takes delivery of third Chinese-built LNG carrier Carrier will be on long-term charter to Exxon Mobil's LNG projects in Papua New Guinea and Australia
Shipping alliances reshuffle may take time to pan out Notice period required for APL to exit G6
China Cosco general manager resigns Current deputy general manager Xu Zunwu to succeed Jiang Lijun
Courage Marine completes new shares placement Proceeds to be used for working capital and business investments
US needs to build 100 more LNG carriers to meet export requirements Transport and operating costs for US-built and flagged LNG carriers higher than internationally flagged ships
Star Bulk sells four modern vessels for $122m Asset disposal to help company's cash runway
Bollinger strikes deal to settle US case US shipyard group agrees to pay $8.5m over False Claims Act allegations.
Golar shares rebound after Ophir deals Share rise by more than 10% after heads of agreement struck for FLNG project.
Royal Caribbean to exit Oslo Stock Exchange Cruise giant to delist in Norwegian capital next year leaving Frontline as the most valuable shipping company in town.
Magnificent men and their money machines Lorentzen & Stemoco says VLCCs set fair for first half of next year as sector becomes all about cash flow.
Sea-Watch adds second Refugee charity snaps up UK research ship to boost Med rescue operations.
Boxship and frigate collide Clash in Kiel Canal damages German warship and containers on Nordic Hamburg vessel.
Latest bulker sales add to dry price pain String of bulker deals show values declining further in an already deeply depressed environment.
Moby takes hotel ship Denmark's Monjasa offloads veteran vessel into Italy as it lines up newer unit.
Cargoship goes aground Japanese vessel stuck off Kinuura with sugar cargo; crew safe.
AHTS activity hits new low Westshore says total of 11 rig moves in November was half the number in the previous month.
Wartsila powers icebreakers Finnish group to provide engines for two Gazprom vessels designed to operate in harsh conditions.
Christian Andersen: No Aurora bidding war Avance Gas not willing to raise offer for rival after BW LPG stepped in as a major investor.
Hyundai to sell shares South Korean shipbuilder tries to improve its financial position by offloading stock worth $109.4m.
BMT wins canal job UK group to help develop $50bn Nicaragua waterway with Hong Kong's HKND.
BBC opens Beijing hub German heavy-lift company responds to increased demand with new office in Chinese capital.
Did TMT help save global banking system? Nobu Su writes open letter to RBS chiefs after Ben Bernanke's book helped open old wounds.
Lindblad orders cruise double Nasdaq-listed owner picks Nichols Brothers for new US-flag ships worth $95m.
NOL independents back CMA CGM offer Directors voice early support to French shipowner's takeover of Singapore-listed container line.
Vyborg Shipyard loss jumps Russian icebreaker specialist posts $12m deficit in first nine months.
BW LPG increases Aurora stake Singapore owner adds 10% to its holding in Oslo-listed company targeted for takeover by Avance Gas.
LDA offloads capesize Low price achieved for capesize an indication of the downturn in the secondhand market.
Confusion caused Jebel Ali ship collision Incorrect assumptions made by masters of Evergreen boxship and Transland suezmax led to accident.
USCG hunts for lost containers US authorities launch investigation into how boxes fell off barge being towed to Puerto Rico.
Maersk boosts capacity Danish owner adding at least 1,000-teu per converted ship with wheelhouse raising project.
Star Bulk Carriers sells modern bulker quartet New York-listed shipowner unloads two capesize vessels and two kamsarmaxes for $122m.
Scrubbers to be fitted to dry bulk carriers Vessel will be able to 'move easily in and out of ECAs.'
Shipping dropped from Paris climate deal Makes IMO the main battleground for limiting GHG emissions from shipping as COP21 negotiations enter the final stages.
Bunker markets still softening Weak demand suggests shipowners don't see prospects for an imminent price rise.
Objections filed against proposed sale of BIC assets to Bomin Creditors say $5 million is not enough and that deal will benefit only PNC Bank, Vopak files separate objection.
OilChart expands team To strengthen its commercial and operational activities in the UK and Belgium.
KPI Bridge Oil opens office in Greece 'The need for a physical presence in the important Greek market has become stronger in recent years.'
St Petersburg bunker prices at historical lows on competition from Rotterdam 'We face the risk of shipowners switching to Rotterdam with MGO prices now substantially lower there,' supplier says.
India's bunker sector set to grow Infrastructure developing at a 'hectic pace'.
Oil futures weaken as bearish sentiment lingers from OPEC meeting NYMEX January crude settled down 14 cents at $37.51/b, while ICE January Brent settled 47 cents lower at $40.26/b.
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