Mixed fortunes for Singapore offshore maritime companies The week ended with mixed fortunes for Singapore-based offshore companies as they reported their financial performances for the third quarter. The market in general is facing reduced offshore activities coupled with offshore vessels overcapacity and weak oil prices. Firms with huge exposure to deep water and subsea drillings are particularly hard-hit...
US public shipping proceeds collapse Only 23 offerings year-to-date. Credit: IHS.US-listed shipowners are on pace to generate 63% fewer proceeds from equity and debt offerings this year than in 2014. If the current trend holds through December - and it seems virtually certain that it will - 2015 will end as the worst year for...
Lauritzen losses continue A vessel decked in J. Lauritzen colours. Photo: Igor MalushkoJ. Lauritzen Holding, the privately owned Danish dry bulk and small LPG carrier operator, has posted deep losses for both the third quarter of 2015 and the first nine months of the year and says no signs of an improvement of...
BW Pacific withdraws Oslo IPO The Oslo Stock Exchange. Credit: PABW Pacific, the product tanker unit in the Singapore based BW Maritime group, says it has withdrawn a planned IPO of shares on the Oslo Stock Exchange. "The Company has resolved not to proceed with the offering and listing under the current market conditions," BW Pacific...
Hyundai Heavy industries and Saudi ARAMCO to explore yard opportunities in Saudi Arabia Credit: PA Saudi ARAMCO CEO Amin H Nasser and HHI's senior VP of corporate planning Chung Ki-sun signed the agreement on 12 November. The agreement also covers the maritime diesel engine manufacturing in the kingdom. Discussions about a collaboration began when the oil company's directors visited HHI's Ulsan yard in April 2015. Saudi ARAMCO...
Port captain falls into sea in Ulsan Ulsan port. Credit: Ulsan Port AuthorityA port captain is feared to have drowned after a freak accident following an inspection in a VLCC in South Korea's Ulsan port. The Ulsan coast guard said that the port captain, identified only as Lee, 54, remains missing after falling into the water around 03.21hrs...
Container ship anchorage waiting times at global ports, October 2015 The following IHS Maritime & Trade monthly report provides the latest statistical analysis on container ship anchorage waiting times at global ports from around the world. Waiting times are compiled by IHS from satellite tracking data using IHS AISLive. Key Points: Indonesia ports showed more containers traded in October; Shipping...
Singapore forum discusses Arctic climate change The negative effects of climate change in the Arctic Circle on Singapore's shipping industry was the main topic discussed in the Arctic Circle Singapore Forum 2015 on 12 November. "Temperatures in the Arctic show that the region is warming twice as fast as the rest of world," said Singapore's minister of...
Tanker owner convicted in US on water pollution charges Norwegian tanker operator DSD Shipping and three crew members were convicted in Alabama of MARPOL and other violations that could cost the company over USD4 million in fines. The conviction, announced on 10 November, includes counts of conspiracy, obstruction of justice and witness tampering. Also convicted were three Chinese nationals who face...
Van Oord wins EUR100 million wind farm deal The inauguration of the Walney offshore wind farm. Credit: PADONG Energy of Denmark has contracted Dutch dredging giant Van Oord for the transport and installation of 87 foundations for the Walney Extension offshore wind farm in the UK. Located in the Irish Sea, about 19 km off the Walney Island coast...
CMG and Sinotrans at work on merger plans Chinese newspaper says Beijing wants a draft consolidation plan as soon as possible
High-dividend payouts criticised at Marine Money forum Clean corporate structure hailed as key ingredient for a public company, but high-dividend payouts criticised for lack of balance sheet flexibility
Freight rates take another tumble Asia-Europe rates slump 40% in a week as GRIs fade into memory
Thailand's Regional Container Lines sinks into the red Carrier to pursue cost cuts to counter falling freight rates
BW Pacific scraps Oslo listing Cancellation comes on heels of Hapag-Lloyd's tepid trading debut in Frankfurt
DSME halts VLGC construction after fire incident Government launched investigation into cause of fire
Singapore court dismisses bank's bid to force Mercator into supervision Dry bulk shipowner to continue with its recovery plans
China Ocean Shipbuilding Industry to develop car park business Group trying to diversify away from shipbuilding core
Courage Marine posts losses in dismal dry bulk market Bulkers owner expects challenging year ahead
Kalmar delivers six RTG cranes to ICTSI's Mexican unit Cranes are part of port's expansion project plan
Ardmore Shipping to offload two chemical tankers for $38.5m New York Stock Exchange-listed company expects $1.6m net gain from the transaction
CSL Americas, Algoma acquire self-unloading bulkers Five vessels purchased from Norway-based Klaveness Ship Holding
Nordic American Tankers raises stake in Nordic American Offshore Nordic American Tankers now has a 26.5% stake in the offshore company
Pangaea Logistics posts profit despite dry bulk gloom Cargo connections and asset flexibility prove their worth
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