Morgan Stanley slashes dry bulk outlook Morgan Stanley analyst Fotis Giannakoulis. Credit: IHS/Greg MillerAdding to the drumbeat of bleak predictions, Morgan Stanley has sharply lowered its outlook for the dry bulk sector and downgraded multiple public owners. "We expect the market to remain under pressure at least through 2017 as most of the large orderbook is delivered...
DSIC Offshore wins five ethane tanker orders China's Dalian Shipbuilding Offshore shipyard has secured a newbuilding contract for the construction of five very large ethane carriers. The 85,000cbm vessels with IMO type c type 3 -ear shaped tanks are to be built for Jaccar Holdings-Hartmann subsidiary JHW Engineering & Contracting. The DNV-GL classed vessels which are scheduled to be...
Marshall Islands first to adopt new standard for PMSCs The Republic of the Marshall Islands has informed those companies with vessels under its flag that "effective 1 January 2016, companies shall engage only those PMSCs that are certified to the new ISO 28007-1:2015 standard by a United Kingdom Accreditation Service (UKAS) authorised certification body". The Marshall Islands, the world's third...
New manual reporting software with integrated analysis tool INTERSCHALT develops solution for fleet-wide, uniform, manual data collection on board. Manual reporting software Bluetracker[express] also uses Bluetracker web applications. Presentation of complete Bluetracker software at the International Conference on Ship Efficiency in Hamburg. INTERSCHALT maritime systems AG, the provider of maritime software for cargo and fleet management, presented its enh
Rickmers posts 4Q loss amid weak charter market Rickmers Maritime's Kaethe C Rickmers, on charter to NYK. Credit: HasenpuschRickmers Maritime said it will post a net loss in the fourth quarter and for the full year due to the depressed container ship charter markets that forced a write-down in the value of its vessels. The losses stem from a USD129 million impairment...
IACS adopts cyber safety as 'third pillar' Cyber safety of integrated operating systems is the new focus for IACS. Credit: Korean Maritime University.The threat to ship safety from cyber attack has led the International Association of Classification Societies (IACS) to expand its maritime remit beyond hull and machinery to cyber safety. Describing cyber safety as the 'third pillar'...
NOL takeover unlikely to affect Singapore's trade volume, predicts analyst Singapore. Olaf SchmidtFrance's CMA CGM takeover of Neptune Orient Line (NOL) will not cannibalise trade volume throughput in Singapore's port, according to Will Carnwath, partner of investor relationship firm Brunswick Group. He told IHS Fairplay that CMA CGM has excess cargo to be handled in both the port of Singapore and...
Norway trials new age of e-navigation with NAVTOR The Norwegian Coastal Administration (NCA) has initiated the first full-scale trial of e-navigation in Norwegian waters in conjunction with NAVTOR, a global leader in e-navigation technology and services. The test sees the ferry MS Stavangerfjord digitally sharing its routing information with NCA via NAVTOR's NavStation, the world's first 'digital chart...
STX O&S creditors agree to USD375 million injection The Korea Development Bank is the yard's lead creditor. Credit: PACreditor banks of South Korean shipbuilder STX Offshore & Shipbuilding have agreed to further cash injection of KRW453 billion (USD375 million). STX O&S, which at one point, was the country's fourth biggest shipbuilder, began voluntary debt restructuring in May 2013 after...
Dredger catches fire in Haifa port. Credit: Haifa portNo injuries were reported from a fire that broke out on onboard a China-flagged hopper dredger while it was berthed at Israel Shipyards, in Haifa port. Avi Shachaf, CEO of Israel Shipyards, told IHS Fairplay that the vessel Hang Bo 3001 was carrying out dredging work in Haifa harbour. While repairs...
Hanjin Aqua casualty damages re-assessed Hanjin Aqua. Credit: Malte SchwarzDamages arising from a container ship that ran aground in the Sunda Strait on 4 December 2015, are estimated at USD53.24 million. HI Gold Kmarin No.8, the fund that owns the 4,532 teu Hanjin Aqua, said in a Korea Exchange filing on 15 December that KB Insure's initial...
Total tonnage of bulkers scrapped in 2015 could be second highest in history Credit: AffeldtThe total deadweight tonnage of dry bulk carriers demolished in 2015 is expected to be the second highest in history, after 2012. With just two weeks to go before 2015 ends, at least 328 bulkers totalling more than 25.6 million dwt have been broken up. In 2012, 33.4 million dwt of bulkers...
Ampelmann awarded the first Walk to Work contract in Brazil Ampelmann E-type mobilised on the AHT Smit Nicobar. Credit: AmpelmannDelft, 15th of December 2015 - Ampelmann, the global leader in motion compensated access solutions, has been awarded its first contract in Brazil. Under the contract, Ampelmann will provide its E-Type system to Boskalis in support of an extended FPSO maintenance...
Singapore bunker sales surge amid price slump Singapore bunkering. Credit: MPABunker sales in Singapore surged 10% in November month-on-month to 3.98 million metric tonnes, the third highest month of the year. According to data from the Maritime and Port Authority of Singapore (MPA), the highest monthly bunker volume was sold in Singapore during August. In that month, bunker...
China-Europe container shipments by rail to expand in 2016 Source: DB Schenker Source: DB Schenker Volumes of containerised cargo travelling between China and Europe by rail are growing as operators increase frequencies and state organisations along the route lend their weight to the development of new services. Two-way services from Asia's largest railway hub in the city of Chengdu in southwest...
Data Hub: Big ships hurt South American load factors MDS Transmodal examines the decline in southbound trade
West African suezmaxes succeed in resisting charterers dastardly machinations Rate rises for West African suezmaxes and for their Black Sea compatriots, while aframaxes experience a mixed week
The Baltic Dry Index hits its second record low in a month Indicator pushed down by oversupply of vessels combined with falling demand for raw materials such as iron ore and coal from powerhouse China
DHT extends three VLCC time charters at firm rates New charters to support additional dividend increases and debt deleveraging
ICTSI Oregon confident customers will return But ongoing labour dispute in Portland makes the timing of their return "unpredictable", says terminal operator chief
APL acquisition bid sees CMA CGM's Saadé clan soar up the top 100 Family behind the French container line now ranked 14
Oakland on-board for landmark voyage Largest boxship to call at US shores adds another California call to port rotation
Box Ships slumps to third-quarter loss Recent fixtures indicative of further rate softening, says Greek containership owner
BW LPG bites off another slice of Aurora BW now owns 15% of Aurora, with further purchases expected, as Avance's rival bid struggles
Torm restructuring ends Share cancellation marks final step of significant restructuring
Charles Taylor appoints Insurance Services chief executive Luisa Barile succeeds Stephen Card
Transpacific traffic growth grinds to a halt October volumes down 0.7% on last year, but Canadian ports continue to make gains on US rivals
Lockton to acquire PL Ferrari Broker enters negotiations to acquire Italian marine P&I specialist and take an investment stake in Singaporean broker
Cosco-CSCL alliance decision could face scrutiny from regulators CKYHE may ring alarm bells by breaching 30% level in market share in Asia-Europe trade if enlarged Cosco joins alliance
Vallianz Holdings unit to enter refinancing exercise Subsdiary will refinance bulk of its bank loans worth around $293.3m
Norwegian Cruise Line launches secondary public offering Company to repurchase 10.3m shares from two shareholders
Larger valemax fleet likely to benefit Vale New valemax breakeven costs could be lower than current freight rates, say L&S brokers
Poland seeks slice of China's One Belt, One Road pie Country developing port and logistics in effort to become regional hub
Economou stake in DryShips to rise after $10m loan conversion Move will assist in gaining shareholder approval for reverse stock split, say executives
CP, NS dispute facts amid speculation of proxy fight ahead With expectations that Canadian Pacific Railway is about to launch a proxy fight for control of Norfolk Southern Railway, the Calgary-based railroad's recent response to an NS white paper is the latest attempt to convince investors to give the deal yet another look at its pitch. CP's chances of success in...
Logistics veteran Tommy Barnes joins project44 as president Project44, a company designing a transportation management system that will link logistics and transport operators in the "Cloud," chose trucking and logistics executive Tommy Barnes as president. Barnes will spearhead project44's efforts to forge strategic partnerships. Connecting carriers and third-party logistics companies in real-time, while eliminating the need for electronic data...
US freight shipments flat, spending declines, Cass says Shipment volumes in the U.S. were flat in November from October, but shipper spending on transportation declined, according to the November Cass Freight Index. Year-over-year, both shipment volumes and shipper expenditures were significantly lower than in November 2014, when the economy was still enjoying the afterglow of a strong third quarter. "This...
Prince Rupert considers further container terminal expansion DP World, the new owner of Prince Rupert's container terminal, and the port authority are already considering expanding the port's annual capacity by more than 700,000 twenty-foot equivalent units - even though the latest buildout has yet to be completed. The duo's decision to study further expansion comes as U.S. importers...
JOC Economist: US containerized exports to rebound in 2016 JOC Senior Economist Mario O. Moreno expects U.S. containerized exports to end the year down 2.5 percent from 2014 but rebound by 4 percent next year, as global growth bolsters slumping U.S. export markets. October outbound shipments dropped 4.7 percent, according to PIERS, a sister product of JOC.com within IHS. It...
Trans-Pacific carriers push modest westbound rate hike Westbound trans-Pacific carriers intend to implement modest rate increases of $100 per 40-foot container from West Coast ports to Asia, and $200 from the East Coast, in order to prevent rates from falling so low that it would make more financial sense to ship the containers back to Asia empty. The...
APMT Pipavav buys new cranes to expand capacity APM Terminals-operated Gujarat Pipavav Port, a minor, non-major facility on India's west coast, has acquired three new quay cranes in order to expand capacity and improve service. The new cranes will replace three older units deployed at the container terminal, and the upgrade is expected to reduce turn times and increase...
Funds available, but US ports need to invest smarter Port of SeattleISELIN, New Jersey - Even though container ports potentially have access to large sums of money needed to build the infrastructure to handle today's mega-ships, port authorities need to better understand the value of their assets and be more judicious in generating revenue for port expansion, according to...
Tolson launches consultancy for bunker sector 'Focus is on providing strategic, practical and independent counsel.'
Sydney cruise ship emissions: Row far from settled Resident takes aim at Carnival in local paper.
Focus on building LNG bunker terminals could help loss-making yard STX Offshore & Shipbuilding is to specialise in LNG offshore bunkering terminals in a bid to stave off bankruptcy.
Lubricant trader appointed to Aegean's Hamburg office Antonis Gavalas has eight years of industry experience in the lubricants market.
Fitch improves outlook for shipping But smaller operators remain vulnerable.
LNG-ready ship launched in United States Product tanker took a year to build.
Japan's October bonded bunker fuel sales up month-on-month Japan did not import bonded bunker fuel oil in October.
Singapore branch of Norwegian Oil Trading changes name Singapore entity affected from January 1, 2016.
Japan's Oct bonded bunker fuel sales rise 12% from Sep to 2.35 mil barrels Japan did not import bonded bunker fuel oil in October.
Current theory for fuel production 'is wrong', says professor Researchers find new method to produce cleaner fuel.
Singapore branch of Norwegian Oil Trading to undergo name change Singapore entity affected from January 1, 2016.
New Orleans-Houston high sulfur bunker fuel spread widest since Dec 2014 'New Orleans is suffering some barge congestion', says bunker trader.
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