Five die in Petrobras FPSO explosion Five crew members were killed and four were still missing after an explosion on floating production storage and offloading (FPSO) unit Cidade de São Mateus on 11 February, BW Offshore confirmed. Online news sources reported that the cause of the explosion and consequent fire was a gas leak, but BW
MPM doubles profit in Q1 2015 Singapore-listed offshore services provider Marco Polo Marine (MPM) doubled its profits year on year (y/y) for the first quarter ending 30 September 2015 to SGD6.8 million (USD5 million) despite lower earnings. Revenues for the first quarter of 2015 dropped 12% y/y to SGD26.6 million from SGD30.1
E.ON to ship LNG from US shale projects The LNG carrier Mitsui OSK Lines (MOL) ordered from Daewoo Shipbuilding & Marine Engineering (DSME) yesterday to service a shipping contract with the trading arm of power company E.ON would haul cargoes from US shale projects. Releasing more details today, MOL said the membrane-type LNG carrier
Harim-JKL consortium to take over Pan Ocean South Korean bulker operator Pan Ocean has signed a contract with a consortium comprising poultry processor Harim Group and private equity player JKL yesterday, sealing the acquisition of the troubled bulker operator. The contract signing follows an approval from the Seoul Central District Court,
Thomas Miller launches digital library app Thomas Miller has launched an app through which a 'digital library' of the group's news and information can be accessed. Speaking to IHS Maritime today, a Thomas Miller official said that the app forms part of the group's strategy to be a "forward thinking, technology-led company". In addition, she
ILO considers developing an e-passport for seafarers Technical upgrades to seafarers' identity documents (SIDs) should improve shore leave opportunities, a meeting of employers, trades unions and government held at the International Labour Organization (ILO) in Geneva agreed on Monday. The meeting discussed ways to improve take-up of ILO Convention
Costa Concordia's Schettino sentenced to 16 years in prison Costa Concordia master Francesco Schettino has been sentenced to 16 years in prison for his role in the capsize and sinking of the huge cruise ship off the Italian island of Giglio with the loss of 32 lives in January 2012. The three judges at the court in Grosseto in Tuscanny, who began the
Odfjell in second restructuring within a year Odfjell, the listed Norwegian chemical carrier and tank terminals group, said it has decided to launch a second restructuring programme within a year of reporting a loss for both 4Q14 and the full year 2014. "Odfjell SE has initiated a restructuring plan that, when fully implemented, is estimated
Wärtsilä rides the LNG wave Finnish power supplier Wärtsilä announced yesterday that it had been awarded a contract for a further 30 50DF dual-fuel engines. The units will be used on five Arc 7 design ice-class LNG carriers under construction at the Daewoo Shipbuilding and Marine Engineering (DSME) yard in South Korea. The
MPA revokes licences of two bunker suppliers The Maritime and Port Authority of Singapore (MPA) has revoked the licences of two bunker suppliers, Hong Fatt Oil Trading and Tankoil Marine Services. The authority said that from 9 February, the companies have been barred from operating as bunker suppliers and bunker craft operators in Singapore.
Aberdeen launches code to protect dolphins Europe's principal marine support centre for the energy sector in the North Sea and Atlantic Margin, Aberdeen Harbour has today launched a vessel Code of Practice to protect bottlenose and other dolphins that live and feed by the harbour mouth. To be widely distributed to vessel owners, port users,
Swiber secures USD310 million EPCIC contract Singapore-listed offshore services provider Swiber Holdings has secured an engineering, procurement, construction, installation, and commissioning (EPCIC) contract worth USD310 million, marking its second-largest contract win to date. Under the contract, project work will involve a full suite of
Nam Cheong net profit hikes 47% Singapore-listed offshore vessels builder Nam Cheong reported today a 47% hike to MYR302.2 million (USD83.6 million) in its net profit for the financial year ended on 31 December 2014. Revenue soared by 53% to MYR1.9 billion, thanks to the delivery of 24 vessels in 2014 compared with the 20 vessels
HHI deteriorates into USD2 billion loss Hyundai Heavy Industries (HHI) has posted a KRW2.21 trillion (USD2 billion) loss for 2014, reversing a KRW146.3 billion profit for 2013. A full-year loss was expected, given that HHI had recorded losses of KRW616.6 billion and KRW1.175 trillion for the second and third quarter of 2014 respectively.
Vessel crash results in spill at Kaohsiung Port A Marshall Islands-flagged vessel crashed into Pier 61 at Kaohsiung Port on 9 February, spilling 11,580 litres of bunker. The ship berthed at Pier 61 at 06:20 h local time that day. However, due to operational mistake, it ran into the terminal and broke the oil tank on its port side, spilling
MOL orders LNG carrier from DSME Mitsui OSK Lines (MOL) has ordered an LNG carrier from Daewoo Shipbuilding & Marine Engineering (DSME). DSME, South Korea's third biggest shipbuilder, announced today that the 180,000 m³ ship would be used to service a shipping contract MOL had signed with German energy supplier E.ON. The ship, to
Norwegian operator orders eight engines from GE Marine GE Marine has announced the sale of eight of its IMO Tier III-compliant engines to Norwegian ferry operator, Bastø Fosen. The diesels will be for both new and re-powered vessels. The engines are able to meet both IMO Tier III and the US EPA Tier 4 emissions standards without Selective Catalytic
Keppel, SMM unlikely to face rig cancellation UOB Kay Hian Securities thinks that the cancellation of rig contracts between Keppel Corporation (Keppel), Sembcorp Marine (SMM) and Brazilian oil company Petrobras is unlikely in the wake of bribery allegations by the Brazilian media. Both Singapore-based rig-builders, Keppel and SMM, remain
US box terminals schedule shutdowns Container terminals on the US West Coast will suspend work for four days to avoid paying premium wages to dockworkers engaged in work slowdowns. The Pacific Maritime Association (PMA) announced yesterday that vessel loading and unloading will be suspended on two holidays - 12 and 16 February - as
TEN wins $10m storage gig for its sole VLCC Tanker owner says cheaper oil should boost both crude and product carriers
Economou eyes new tanker spree Greece-based owner may tweak details of Tankships deal for investors
Game-changing Arabian rail project edges forward Link between the six Gulf Co-operation Council states will benefit regional shipping by improving supply chain efficiency
Dry bulk market has bottomed out due to weaker supply, says MOL Nagata is optimistic about the market's future, regardless of the shrunken proceeds seen in his dry bulker division
Swedish Club advises on navigational claims Crews must raise game on procedures and communications
Tsuneishi to expand Asian foothold with greenfield yard Shipbuilder's president Kenji Kawano says announcement will come soon
Spanish port throughput edges close to pre-crisis levels Cement imports for construction, agricultural products and energy commodities such as coal play starring roles
Portland begins search for new transpacific partner US port to focus on recruiting Hanjin replacement and rerouting cargo following carrier's decision to pull Portland call
Sulphur regulations remain a headache for owners From route closures to issues surrounding compliance and engine performance, the arrival of new sulphur emission regulations at the start of the year have been anything but simple
Brokers welcome key players' chartering pact But low iron ore demand may dampen the first-quarter market
Odfjell posts $18m loss as chemical market struggles to recover However, chemical carrier sees improvements from last year and further advances expected in 2015
US west coast ports to close for four days over holiday weekend ILWU accuses employers of trying to deliberately sabotage contract negotiations
Russian shipping rides out sanctions, depreciation and oil price plunge Crude exports hold up but ports feel the pinch
Freight forwarders savour a bumper year Larger players post container volume growth way ahead of the industry average
Yard Talk | Shipbuilders may welcome swaps from bulker orders to tankers, but not from offshore projects Profitability plays essential role when yards mull over conversion requests
Debate erupts over damage to ag exports from the West Coast labor standoff What is the true impact of the West Coast labor showdown on U.S. agricultural exports? There is no question that exports are being hurt due to port delays stemming from the months-long, acrimonious and still-unresolved negotiations between West Coast dockworkers and management. The media have been filled since late last year...
Vancouver sees 4 percent TEU growth in 2015 after record-setting 2014 Port Metro Vancouver, British Columbia, expects container volume to expand roughly 4 percent this year after traffic increased 3.1 percent in 2014 to a record 2.9 million TEUs. Container volume in 2014 would have been even stronger if a drayage strike and shorter berthing windows for exports didn't hamper business, Port...
McEllrath to ILWU rank and file: Ignore 'PMA's bullshit' The president of the International Longshore and Warehouse Union recorded a video message urging members to support ILWU contract negotiators and ignore "bullshit" from the Pacific Maritime Association. ILWU President Robert McEllrath issued the brief statement, which is circulating on Youtube, after the PMA said it would halt vessel loading and...
Concor project jumps on export-import volume growth Container Corporation of India reported a 21 percent year-over-year jump in net income for its fiscal third quarter, to Rs. 301 crore (about $48.5 million), in a filing to the Bombay Stock Exchange Thursday. The state-owned intermodal logistics provider's income from operations in the three months through Dec. 31 totaled $234...
CSX promotes Munoz to president Oscar MunozCSX Transportation's chief operations officer, Oscar Munoz, has taken on role of president at the railroad from Michael Ward, who will remain CEO and chairman, after the company's board of directors voted for the changes Wednesday. Munoz, who served as chief financial officer and vice president of AT&T Consumer Services...
FMC scrutinizing demurrage fees related to port congestion WASHINGTON - As part of a broader report on U.S. port congestion due this summer, federal maritime regulators will outline whether the increase in demurrage charges hitting shippers are unreasonable, and outline potential remedies. The U.S. Federal Maritime Commission began receiving an uptick in shipper complaints over demurrage charges on all...
DP World to add third container berth at London Gateway DP World is to build a third berth at London Gateway, its deep-water container terminal and logistics complex 25 miles east of the U.K. capital. The Dubai-based firm said the new 400-meter-long (1,312 feet) berth would be dredged to a depth of 17 meters and equipped with four gantry cranes to...
Gulf ports see continuing strong growth in petrochemicals exports Texas and Louisiana ports believe they're still early in what they expect to be an extended boom in exports of chemical products produced in the region with cheap U.S. natural gas. Shale drilling using hydraulic fracturing has lowered the price of gas used for energy or feedstock, and has led companies...
Powder keg follows this good buy Q: On a trip away from home to another state, I was able to find a good deal on black powder. I'm an enthusiast of antique guns, and I took advantage of the opportunity to make the purchase. Now I have the problem of shipping my purchase back home, and I...
Goodman China's first half lifted by rising demand for logistics properties HONG KONG - Developer Goodman Group capitalized on the strong demand for prime logistics space in the country in the past six months, ending the first half of its financial year with 22 properties and 12 development projects.The Australia-listed logistics property developer has increased its total assets in China to...
DHL secures extra US air freight capacity as shipper demand grows HONG KONG - With less than a week to the Chinese New Year factory shutdowns and congestion delays frustrating trans-Pacific shippers, DHL is ensuring it has enough air cargo space on its U.S. routes to handle the rising demand. "We are securing additional air freight capacity on all major trade lanes...
China-Europe rail a key part of UTi-Changjiu auto logistics deal HONG KONG - A strategic partnership between UTi Worldwide and Changjiu Logistics, the largest independent automotive logistics company in China, will be making good use of the growing rail services linking China and Europe.The partnership was launched in Beijing recently, and it is designed to serve the growing logistics requirements...
ICTSI seeks new Portland business as Hanjin exits The operator of the Port of Portland terminal that Hanjin Shipping is vacating after repeated labor disruptions said it will seek new business for the terminal but that the International Longshore and Warehouse Union must do its part. "With 20 years remaining on our lease and partnership with the Port of...
Panama says 'si' to PSA Panama's National Assembly has enacted a law approving a contract that will allow Singapore's PSA to expand its container terminal on the Pacific side of the canal.
Seacor seals MR fixture The Jones Act market is rife with rumours that Seacor Holdings has secured employment for a product tanker that is under construction at a leading US shipyard.
The big chill Owners, financiers and market forecasters are growing increasingly concerned about the health of the Chinese shipbuilding industry.
Wellington takes a pinch of SALT Investment heavyweight Wellington Management has emerged as a major shareholder in Scorpio Bulkers and Dorian LPG.
Shipping pain goes on German lender Commerzbank has revealed shipping loan losses continued to run at a high level in 2014, but its exposure to default has been cut back.
Ulstein wins CBO PSV deal CBO of Brazil has turned to Norway's Ulstein group to design a platform supply vessel series at Alianca shipyard in Rio de Janeiro.
TEN's $10m storage score Tsakos Energy Navigation has added its sole VLCC to the billion-dollar fleet of vessels fixed on potential floating storage deals.
Soechi VLCC released Indonesia's Soechi Lines says it has settled a bunker supply row that had seen one of its tankers arrested in Singapore.
ABN Amro into China Dutch lender ABN Amro has signed an agreement with Chinese export credit agency Sinosure for shipping and offshore project funding.
Sembcorp profit slips Sembcorp Marine has seen its net profit slide in the fourth quarter due to a recognition of tax incentives.
VLs still top Navios Acquisition list A developing recovery in the VLCC market has not dented Navios Maritime Acquisition's appetite for VLCC purchases.
Viking back in black Viking Supply Ships has so far remained unaffected by the termination of Russia's Kara Sea project as it turned around negative figures in both quarterly and full year results.
HHI logs record $2.93bn loss South Korea's Hyundai Heavy Industries (HHI) has posted its biggest ever operating loss for 2014.
Coke ship busted US customs officers have seized $29m of cocaine on a Panamanian general cargoship off Puerto Rico.
Euronav VLCC to be converted A VLCC sold by Euronav last year is set for conversion into an FPSO, the Belgian tanker owner has confirmed.
'This is a tragic day' BW Offshore chief executive Carl Arnet has thanked rescuers for their efforts following an explosion on board one of the company's FPSOs that has now claimed five lives.
SCI turns it around Shipping Corp of India (SCI) has returned to the black in the third quarter thanks to a strong performance from both boxships and bulk carriers.
New course for Pan Ocean A contract that will result in South Korea's Pan Ocean shipping group being taken over by an investment consortium led by a chicken processing concern has been signed.
Hafnia hunting $34m Hafnia Tankers is turning to its existing investors to help fund the purchase of four LR1 tankers.
Tsuneishi orders to grow Kenji Kawano, newly appointed president of Japanese bulker builder Tsuneishi Shipbuilding, says the yard may see owners ready to start ordering in numbers again as soon as this summer and despite the continued downturn in the market.
NWS volumes fall Russia's North-Western Shipping (NWS) has seen its cargo volumes drop 13% in 2014.
Odfjell slashes loss Norwegian tanker owner Odfjell has dramatically reduced its loss in the fourth quarter despite a fall in revenue.
DSME seals MOL deal Korea's DSME has clinched an order from Japanese owner MOL for up to two eco-friendly LNG carriers.
Swiber hauls in whopper Swiber has won an engineering, procurement, construction, installation and commissioning (EPCIC) contract worth about $310m.
CSSC hatches Euro bond China State Shipbuilding Corporation (CSSC) has raised EUR 500m ($565m) from the Euro-denominated bond market.
ABN AMRO upgrades Golar Golar LNG has been raised to a 'buy' at Dutch bank ABN AMRO on the grounds that its share price presents an attractive risk/reward.
HOS falls short of estimates Hornbeck Offshore has seen its fourth quarter results come in short of analysts' estimates, in figures released late Wednesday.
Pool party It appears that Heidmar is moving forward with a campaign aimed at penetrating new markets.
OSG panamax detained An OSG-controlled products tanker has been detained by the US Coast Guard after failing a port state control (PSC) inspection.
Dalian Port issues bond Dalian Port is set to raise CNY 800m ($128m) from a three year offering of Renminbi denominated credit enhanced bonds.
Blast kills three on BW Offshore unit A blast has killed three people on board a BW Offshore FPSO that is on charter to Petrobras.
Norwegian ferry operator opts for GE's diesel engines Marine engines are IMO Tier III- and US EPA-compliant.
Glander International Bunkering expands Singapore ops Hires Jacky Nguyen as a bunker and lubricant trader.
Progress for Q-Max conversion Retrofit work will start in April as scheduled.
Tests reveal ExxonMobil's ULSFO 'compatible' with MGO 'No compatibility issues were identified', says field marketing manager.
Scrubber, LNG uptake seen slowing in wake of oil price drop Familiarity and lower prices sees MGO dominate as ECA compliance option over technology and other fuels.
Odfjell presses ahead with cost-cutting plan Norway-listed chemical carrier and tank terminals group wants to save $100 million a year.
Ship in bunker dispute released Reason for arrest of Arenza swiftly resolved.
GAC makes Singapore appointment Move points to another positive year.
Incompetent crew cause of training ship grounding Engine failed due to water in the bunker fuel, investigation found.
Supplier stripped of licence was OW creditor Tankoil was at the centre of controversy surrounding the collapse of OW.
Soyuz Bunkering Group names new CEO Simon Gabathuler says Group will not be closing offices.
Bunkering up in the Ukraine Dredging work undertaken at port of Yuzhny.
Chinese domestic vessels scrap LNG conversion plans Low oil prices eroded price advantage over conventional marine fuel.
Taiwanese warships involved in 'fuel siphoning' claims Naval personnel are alleged to have colluded with contractors to siphon diesel from ships' bunker fuel tanks.
Chinese cargo ship arrested Vessel detained in Singapore.
Progress for sea-going LNG bunker tanker Pump system selected for newbuilding.
Report: Vinalines debt-restructuring talks at standstill Agreement reached with only two out of 22 creditors.
Singapore players lose bunkering licences Tankoil and Hong Fatt caught breaching licensing rules.
Russian refiner sees stronger bunker demand Marine fuel output climbed 34% on year in 2014.
Rising demand prompts supply contract talks UK player reports boost in 0.10% MGO demand.
Nigeria toughens maritime oil pollution laws Liability actions now likely easier to bring and claim, observes law firm.
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