IHS Launches New Website Serving the Global Maritime Industry NEWARK, N.J. (November 11, 2015) - IHS Inc. (NYSE: IHS) today announced the launch of Fairplay.IHS.com, a website that serves as the leading source of critical news and analysis for the global maritime industry. With the new IHS Fairplay website, IHS Maritime & Trade is taking an important next step in...
Otto Marine sees red in 3Q15 Singapore-listed offshore services provider, Otto Marine has posted a loss of USD5.1 million for the third quarter ending 30 September 2015 from a net profit of USD2.02 million in 3Q14. The loss was attributed to challenging conditions in the offshore market which caused Otto Marine's revenue to fall by 35% to...
HMM sells part of Hyundai Asan stake to Hyundai Elevator An HMM vessel. Credit: Southern cross MaritimeHyundai Merchant Marine has divested part of its stake in affiliated tour operator Hyundai Asan as part of further moves to strengthen its liquidity. South Korea's second biggest shipping company's latest move comes amid rumours that it and its bigger compatriot rival Hanjin Shipping are...
Nuisance alarms reduced during Antwerp trial The Discovery RPM solution at Port of Antwerp where the system cut nuisance radiation calls. Credit: SymetricaRadiation portal monitor (RPM) technology has been trialled for cargo screening at Port of Antwerp where it cut naturally occurring radioactive material (NORM) nuisance calls by 84%. It is also being trialled at an unnamed...
DSME to review safety after second yard fire A fire broke out yesterday at DSME's Okpo yard killing one worker. Credit MaerskSouth Korean shipbuilder Daewoo Shipbuilding & Marine Engineering told IHS Fairplay that it will review safety procedures after a second fire broke out at its Okpo yard. The fire, which started from a very large gas carrier under...
China's growing sugar demand boosts Handysize bulker market Bags of sugar on board a bulk carrier. Credit: PAChina's imports of sugar have been surging this year, with the country importing as much as 3.7 million tonnes in the first nine months of 2015, keeping Handysize bulkers gainfully employed even as dry bulk rates for bigger ships remain low. China's...
Hapag-Lloyd expects first profitable year since 2010 Credit: Dietmar HasenpuschGerman container line Hapag-Lloyd achieved a small net profit in the third quarter and expects to close the year with a positive net result for the first time since 2010. Its earnings after tax and interest for the period between 1 July and 30 September reached EUR3.2million (USD3.43million),...
Hanjin-HMM merger unlikely, say South Korean maritime officials A Hyundai Merchant Marine vessel. Credit: Southern Cross MaritimeTop maritime officials in South Korea said a merger between Hanjin Shipping and Hyundai Merchant Marine was unlikely because the benefits of such a move are difficult to see and it could have significant negative implications for the wider economy. Officials attending a...
London marine insurers tap into Islamic market A mosque in Dubai, which has become a centre for Islamic finance. Credit: PASenior London marine insurers are keen to create a viable market for Islamic-compliant commercial insurance products. The Islamic Insurance Association of London (IIAL) organised a conference in Dubai where they spelt out the market's plans. The event also...
Anti-trust fine puts Wilhelmsen in the red Car carrier operator Wallenius Wilhelmsen is 50% owned by Wilh. Wilhelmsen ASA. Credit: PAWilh. Wilhelmsen ASA, the listed Norwegian vehicle carrier and logistics company in the Wilh. Wilhelmsen Holding group, has reported a loss for both 3Q15 and for the first nine months of the year, with a USD200 million anti-trust...
Vard deepens into loss on weak shipbuilding market Vard's shipyard in Norway. The company has been hurt by reduced activity at its European yards. Credit VardSingapore-listed shipbuilder Vard Holdings has deteriorated further into a loss of NOK845 million (USD97.6 million) for the third quarter ended 30 September 2015, from a loss of NOK160 million in the third quarter...
Infographic: The evolution of container ship size The container fleet has been constantly evolving. More than ever increasing ship size and maximising operational efficiency are in the forefront to enhance the performance of new tonnage. Megaships have come to dominate container shipping rapidly over the past decade. They have grown bigger and faster than any other ship type...
EU reporting directive has "backfired" Shipowners want an overhaul of Europe's electronic port reporting system. Credit: European CommissionShipping is concerned that "half baked" solutions to revitalise Europe's shortsea shipping sector are adding financial expense to existing administrative burdens. The most problematic of these solutions, shipowners have told IHS Maritime, is Europe's Reporting Formalities Directive, which member...
Commodities boom may be the last in human history The world commodities boom is over and there may never be another one, leading Australian economist Saul Eslake warned the International Mining and Resources Conference in Melbourne on 10 November. "It could well be, in my view, that the commodities boom Australia has just experienced in the last 12 years or so...
Cosco/China Shipping merger may run into minority shareholder trouble HONG KONG - Minority shareholders not controlled by Beijing may be the biggest problem faced by attempts to merge Cosco and China Shipping, believes investment equity firm Jefferies. "There is a very high risk that the plans are not able to be executed due to minority's objection," Jefferies said in a...
Major obstacles in the way of any NOL sale, says analyst HONG KONG - Difficulties in estimating Neptune Orient Lines' valuation, its unprofitability and the steady loss of market share by its APL container division will make a proposed sale of the Singapore-listed company no easy task.That is the assessment of Alphaliner following confirmation from NOL that it was in preliminary...
D'Amico declares long-term confidence in products as third-quarter results rise Strong gasoline demand and inventory build-up yield average spot TCE in excess of $21,000
Concordia Maritime posts strong third-quarter results under good market conditions Rates for product tankers and suezmaxes stayed competitive due to strong demand in the tanker market
Incorrect maintenance is major cause of engine damage, Swedish Club warns Lube failure now topping $900,000 per claim,says P&I insurer
Volkswagen emissions scandal shows need for corporate social responsibility for all industries Shipping must commit to long-term sustainability, Fischbacher contends
Brussels to give go-ahead for airborne drones to monitor shipping in European waters Emsa has been assessing the potential of using an unspecified number of heavy-duty drones that could be used for a number of functions including regulatory compliance
Nordic American Tankers posts third-quarter profit in a healthy suezmax spot tanker market A dividend of $0.38 per share is scheduled to be paid on November 12
Global coal demand to grow only 0.4% per year to 2040, IEA says Demand slows most in developed countries due to environmental concerns and in China, which is expected to see a decline from 2030
The great awakening What a difference a month makes. And what a month it has been.
MRs show strong gains but LRs lag behind Transatlantic gasoline flows boost MR trade
Panama Canal Authority moves to alleviate congestion ACP suspends non-critical maintenance works, modifies its booking system and lifts draught restrictions to clear vessel backlogs
Ceva sees double-digit drop in third-quarter revenues Dutch freight forwarder blames 'industry headwinds' for 13.1% decline in revenues
Best practice offers competitive advantage Owners need to go beyond 'greenwash' and regulatory minimums
Holiday cheer for US ports as imports surge Stark turnaround in fortunes from last year with US ports expected to see an 8.3% rise in incoming traffic
Nasdaq warns Globus on share price requirement Bulkers owner has 180 days to raise share price above $1
Antitrust provision hits Wilh. Wilhelmsen results Company has ringfenced $200m in relation to ongoing antitrust investigations in Wallenius Wilhelmsen Logistics and Eukor Car Carriers
Euroseas slashes loss in third quarter Owner sees turnaround for both bulkers and feeder boxships 'over next two years'
Lloyd's Register names finance chief Alastair Marsh's promotion to LR group chief executive opens the door for a new CFO 'passionate about engineering'
Torm hopes to find 'nice home' in NYSE IPO Update: Danish carrier could see more liquidity and capital from a dual-listing structure
Trafigura switches from coal to containers in Colombian project Collapsing coal prices force commodity trader to drop plans to export coal from new port, as boxes make more economic sense
Norden to focus on supramax and panamax in dry bulk Update: Company may sell other types of dry cargo vessels to reinvest in focus area
MISC denies reports of merger talks with Bumi Armada Merger could make Bumi Armada second biggest FPSO operator worldwide
Hapag-Lloyd turns small profit in third quarter Rates and volumes down on last year
Vard third-quarter revenue hit by European yards' weakness Restructuring costs for the third quarter amounted to $4.2m
Kogas signs LNG supply and trade pact with France's EDF Energy firm to help Kogas handle LNG volumes from project investments worldwide
Seanergy Maritime takes delivery of two capesize ships Vessels financed by senior secured loan agreements and an arrangement with company's sponsor
Liberian Registry takes liability certification online System can be used by Liberia-flagged vessel owners, shipowners registered in non-convention states
New Orleans port exceeds milestone 500,000 teu level Industry experts expect a threefold increase in chemical imports at the port
Platts Pre-Report Survey of Analysts' EIA/API Data Suggests a 500,000-barrel draw in US oil stocks.
Senior managers involved in OW case may face 'bankruptcy quarantine' Could be prevented from holding management positions in Danish businesses, on top of claims that could run to millions.
LNG is an option for 'future proofing vessels' 'Do we expect the current limits on SOx, NOx to be the end of the journey?'
Greek ports caught up in national dispute Vessel movements to be affected, says ISS.
Otto Marine posts quarterly loss Maintains cautious outlook for next 12 months.
Tesoro completes logistics deal Storage assets to switch to logistics subsidiary.
Fuel oil prices under downward pressure Fuel oil markets in the Atlantic basin could feel the impact of a fall in Chinese demand.
Vitol buys stake in Karachi-based bunker fuel supplier With option to increase that stake within a year.
Liberian Registry online applications to include bunker spill liability Development is an extension of an earlier online initiative.
Vitol to buy stake in Karachi-based oil company Deal valued at around $28.5 million.
Emissions analyser gains another class certification Procal 2000 emissions analyser earlier received certification in June.
Tacoma LNG bunkering facility operational in 2017 Plant to provide LNG bunker fuel to TOTE Marine vessels.
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