Ensign Events announces launch of first International Maritime Human Rights Conference "Respect, Responsibility, Remedy in the Maritime Environment" Ensign Events together with Human Rights at Sea announce the launch of the International Maritime Human Rights Conference and Gala Dinner 2016. Taking place in London on September 14th 2016, the event will focus on explicitly addressing the issue of maritime human rights and...
Bulker values poised for fall Deutsche Bank analyst Amit Mehrotra. Credit: Chris Preovolos/Marine MoneyConcerns about US-listed dry bulk companies are escalating, given expectations for rising asset sales, which would lower valuations and impact debt agreements. The situation of NASDAQ-listed Star Bulk exemplifies a broader risk. On 18 November, Star Bulk reported a net loss of USD41...
Chinese company chosen to build Sri Lanka LPG terminal The contract to build an USD80 million liquefied petroleum gas (LPG) terminal for Sri Lanka's Laugfs Gas at the southern Hambantota port has been awarded to Chinese company China Huanqiu Contracting and Construction Corporation. The terminal will have storage capacity of 30,000 tonnes with provision to expand up to 45,000 tonnes and to accommodate...
Transas launched High Voltage Training Breaker According to the new requirements, training has to be conducted using real equipment. In partnership with the power technology specialist ABB, Transas has developed a real hardware high voltage generator breaker cabinet compatible with the Transas ERS 5000 TechSim simulators with high and medium voltage systems. The Transas High Voltage...
Firm tanker market boosts Hafnia interim results Danish company Hafnia Tankers has reported solid interim results on firm markets and bigger fleet, but it did not comment on its previously announced intentions to seek listing in the United States. Group net profit amounted to USD20.7 million in the third quarter of this year, reversing a loss of USD1.7...
New Black Sea inspection system will result in fewer checks The Black Sea port of Odessa, Ukraine. Credit: PAShips calling at ports on the Black Sea will be subjected to a new inspection regime as of 1 January. The new regime under the Black Sea MoU, which was agreed in April, replaces the region's existing matrix and groups ships into...
P&I mutual structure 'under attack' Osprey CEO Guy Pierpoint. Credit: Osprey UnderwritingThere are growing divisions in the marine insurance market as clubs feel under pressure to look for new areas of business. In the past week, Thomas Miller, which manages the UK P&I Club, has completed the acquisition of Osprey Underwriting. Osprey operates in the Lloyd's...
China maritime and logistics players eye Belt and Road opportunities One Belt One Road is a centrepiece of China president Xi Jinping's foreign policy and domestic economic strategy. Credit: PAChina's Belt and Road initiative means opportunities for maritime and logistics players despite inherent risks with investing in some of the markets along the planned routes, according to top executives from...
Maersk to raise EUR600 million in seven year bonds Credit: PAA.P. Moller-Maersk (APM) has issued bonds with a principal amount of EUR 600 million (USD 641 million) due in November 2022 with a coupon of 1.5%. This is the annual rate of interest payable on the borrowing. It is the company's first Eurobond offering since 2012, and is expected to...
Japan yard orders surge in October A Japanese shipyard. Credit: PAOrders at Japanese shipyards rocketed 186% in October as shipowners rushed to build ships that will comply with the International Maritime Organization's (IMO's) new standards, which will take effect from July 2016. Figures from the Japan Ship Exporters' Association (JSEA) show that its members' shipyards received 47...
South Korea government to help Hanjin and HMM acquire 'mega box ships' Credit: PASouth Korea's new Minister of Oceans and Fisheries, Kim Young-suk, has said it is imperative that Hanjin and Hyundai Merchant Marine (HMM), the country's two biggest shipping companies, acquire ultra-large container ships (ULCSs) if they are to compete effectively in liner shipping. Speaking at his first press conference since he...
Angelicoussis returns to DSME for more VLCCs John Angelicoussis with DSME president Go Jae-ho last year. Credit: DSMEGreek shipowner John Angelicoussis has returned to South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) for more very large crude carriers (VLCCs). Angelicoussis on 18 November ordered two 319,000 dwt VLCCs, which will be managed by his holding company's unit...
Triyard receives new customer order for escort tugs Vietnam's Triyard group has extended its product range with a new order for escort tugs. Singapore-based specialist marine craft group Greenbay Marine, a new customer at the shipyard, has contracted an order worth US12.8 million for a quartet of Robert Allan-designed RAstar 3400 Azimuth Stern drive tugs. The 34 m tugs,...
Dry bulk shipping woes could deepen as demand shift may be structural, rather than cyclical 'Coal also depressing', says analyst. credit: HasenpuschDry bulk shipping problems could deepen as adjustment in global demand may turn out to be structural rather than cyclical with little chance of relief on excess supply. "I am worried we are reaching a structural rather than cyclical turning point in iron ore...
ReCAAP ISC: Low crime rate should not lead to complacency Singapore-headquartered anti-piracy watchdog ReCAAP Information Sharing Centre (ReCAAP ISC) said that crime rate dropped in its October 2015 report, but it will still remain vigilant. The number of incidents occurred in October has dropped notably by 48% and 28% compared with the number of incidents in August and September respectively. Comparing...
HMM deteriorates into loss as working capital deficit persists Hyundai Merchant Marine (HMM) announced a third-quarter loss on 17 November amid ongoing speculation of a merger with its bigger compatriot Hanjin Shipping. South Korea's second-biggest shipping company said it incurred a KRW24 billion (USD20.46 million) loss for the third quarter of 2015, reversing a KRW204 billion net profit for the...
Ports of Stockholm opts for floating cruise pier Passengers of cruise ships moored in Ports of Stockholm's Nynäshamn harbour in 2016 will be able to walk straight ashore from the ship as the port authority has purchased an innovative retracting floating pier from its creator - Norway's Cruise Venture Ltd. IHS Fairplay has learnt that the 260...
Panamax 'in doldrums' as BPI slides to nine-month low Oversupply pushes down rates in main trades despite spot activities in Atlantic Basin
Kostas Ladas to head Liberian Registry London office Register sources London general manager from broker agent
Sovcomflot 'immune from LNG slump', says Kolesnikov Russian giant set fair to reap rewards of tanker recovery
Hutchison and Maritime Union end their waterfront row
Widespread cyber threat low but potential for disruption high BIMCO addresses cyber security at annual conference
UASC chief pours cold water on APL takeover Jorn Hinge says today's market fundamentals make such an investment too high-risk
Hafnia rakes in $20m profit High refinery margins, combined with good demand for gasoline, middle distillate and naphtha, boost Copenhagen product tanker player
Europa Venture eyes massive renewal of shortsea fleet Owners encouraged by signs from Brussels over help to fund numerous orders in European yards
Lloyd's List launches container line consolidation topics page Latest news and analysis on what looks set to be a major shake-up among global carriers
Retrofit rudder trunk bars to block stowaways, says UK Club Unwanted passengers can prove costly for owners, marine mutual warns
Sembcorp Marine to build FSO for Modec Unit to be deployed in North Sea from 2018
Precious Shipping cancels two ultramaxes at Sainty Thai bulker operator also seeks $11.16m refunds per vessel
Black Sea terminal expands to take 10,000 teu vessels Novorossiysk project to allow bigger ships to call in Russia directly
Will King Abdullah Port be a game changer? Bordered by the Arabian Gulf, Indian Ocean and the Red Sea, Saudi Arabia is the only country on the Arabian Peninsula which is surrounded by two major shipping lanes which link the East with the West
STX O&S calls for massive job cuts in bid to avoid bankruptcy Chief executive recommends slashing up to 800 jobs
Aronnax: Applying innovation in the real world While shipping needs to be open to new ideas, innovators need to see the potential in shipping
Cancelled BW Pacific IPO will not affect BW Group rating, says Moody's Analyst cites 'very good liquidity profile'
Box Ships to delist from NYSE Company applied for listing transfer to Nasdaq Capital Market
HHI sees 10% increase in October ship-order sales Hyundai Mipo Dockyard sales stay about level year on year
Robbery incidents in Malacca Straits sharply up in January-October 2015 However, no oil-siphoning thefts in Asian waters in the past two months, Recaap says
LA Harbour Commission approves grants to beef up port security Los Angeles port will contribute $625,000 in addition to the grants
Exmar inks joint pact with Swan Energy for India LNG port project Both parties looking to ramp up LNG capacity at terminal to 10m tonnes per annum
Cosco and China Merchants complete Turkish terminal acquisition Acquisition will advance China's One Belt, One Road initiative
Star Bulk to answer questions on capital expenditure requirements Declining asset values to hit company's ability to finance remaining newbuilding programme
Crowley starts construction in Puerto Rico to accommodate its new LNGs Jones Act created competitive shipping market between US mainland and Puerto Rico
Star Bulk girds for 2016 The bulker owner outlines operating levers it may pull as it deals with weak market.
Tanker shares imply lower 2016, UBS says Report says tanker stock prices reflect dimmer view of time-charter rates in 2016.
Danske Bank raises Awilco LNG rating Bank continues to see struggles for LNG carrier owner but has upgraded the stock on valuation grounds.
Peter G waves flag for US shipping rebirth America's marquee owner says private equity has pumped up ownership and now needs knowhow.
Dry-bulk stocks suffer rout in New York US-listed shares of Safe Bulkers, Star Bulk Carriers and Scorpio Bulkers are plunging.
Star shares fall after loss and downgrades New York-listed bulker owner's stock price loses 20.2% after result misses forecasts.
India okays Cochin IPO Government to sell off its 10% stake as it seeks listing for ferry shipyard.
Heavy hitters added to Hafnia Tankers board John Ridgway, Esben Poulsson and Jan Bech Andersen brought on board as owner piles up profit.
PDZ cuts Q1 loss Revenue rise boosts Malaysian boxship owner; more improvements expected.
Paris attacks: we must show resolve German owners' boss expresses disgust at "barbaric" jihadi murders and urges shipping to stand firm against threat.
Euronav sells suezmax New York-listed giant said to have secured over $22m for vintage tanker.
Minoan in the money Emanuele Grimaldi-led Greek ferry company turns a profit for the third quarter of the year.
Uni-Asia turns to red Singapore-based boxship and bulker owner hit by rising costs in third quarter.
Courage moves to bolster balance sheet Hong Kong-listed owner sets up near $11m shares placement to strengthen its financial position.
DVB arrests drillship Odfjell-operated Deepsea Metro II held as owner Chloe Marine defaults on loan.
'Perfect storm' drives Deutsche downgrades Bank cuts ratings on trio of public bulker owners as raft of ships for sale threatens loan covenants.
Sembcorp wins FSO Singapore yard to build storage unit for Modec's Culzean work in the North Sea.
STX to axe 800 jobs South Korean shipbuilder also lining up salary cuts to stave off collapse in 2016.
Civmec eyes Australian yard Domestic engineering group conducts due diligence on builder and repairer Forgacs.
Double hit for Alang IFA Global says Indian shipbreaker facing lower steel scrap prices and fall in rupee.
Lines suspend Europe run Coscon, Yang Ming, Hanjin and Evergreen halt service from Asia due to seasonal demand.
Maersk taps Eurobonds Danish liner giant picks up cheap finance with raid on financial markets closer to home.
Precious culls more ultramaxes Thai shipowner has now walked away from first four in 14 ship order in Chinese shipbuiler.
DSME confirms Maran Tankers double Greek shipowner takes VLCC newbuilding tally at favourite South Korean yard to eight ships.
BW Group credit rating unaffected Delay to BW Pacific IPO won't hurt shipowner's finances, but it may have to cover pre-delivery finance.
Star Bulk pushes back four newbuildings New York-listed bulker owner reveals quarterly loss that's slightly deeper than expected.
POSH resumes buyback Singapore offshore marine services provider takes advantage of drop in share price to acquire more stock.
Box Ships preps move to OTC after de-listing Michael Bodouroglou-led shipowner is de-listed by the New York Stock Exchange.
US fuel oil stocks rise for tenth straight week Total stocks at their highest since 2010.
ExxonMobil: More customers switching to new ECA category fuels Says independent laboratory tests prove good stability and compatibility with other marine fuels.
Barclays predicts oil demand growth will outstrip current consensus 'The industrial sector has played little part in this demand growth; the drive has come from the end consumer.'
IBIA Convention to return to Europe in 2016 'This is a real feather in Gibraltar's cap,' says Minister for Shipping.
Interview with VPS for Platts Mediterranean Bunker Fuel conference Ferry Van Eykel shares his thoughts on the implications of the new ECA sulphur limit.
OW: 16 companies in interpleader applications to UK courts Growing list of shipping companies seeking protection from vessel arrests.
Mediterranean fuel oil market at nine-month low On oversupply of cargoes.
Lukoil boosting supply at key Russian Black Sea ports New barge to supply MGO. Also gearing up to provide ECA-compliant ULSFO in the area.
Sovcomflot completes fuel-saving fleet renewal programme Profits almost triple on the back of stronger revenues.
'Leading ship owner' orders shore power systems Order includes 'first project of its kind' installation on vessels.
Brightoil to receive $62 million investment funds Capital comes from two groups, says Hong Kong-listed firm.
Sovcomflot completes fleet renewal programme 9M profits almost triple on the back of stronger revenues.
BMS United Bunkers introduces offshore service Bunkering service is now managed by 'dedicated professional team', says company.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
