Seagull Maritime addresses PSC enclosed spaces campaign Seagull Maritime has launched a new onboard training course covering Enclosed Space Entry in ships, at a time when the issue is being brought into sharp focus by industry regulators. A committee meeting of the Ports Memorandum on Port State Control (Paris MOU) in May unveiled plans for a Concentrated Inspection...
Cruise engine room fire risk persists Le Boreal. Credit: HasenpuschThe 264-passenger Le Boreal, operated by French line Ponant, was evacuated on 18 November following an engine room fire while the cruise ship was off the Falkland Islands. There were no reported injuries and the status of the luxury vessel is currently unknown. It is the latest...
Commentary: Equality and transparency for all in dredging? EU headquarters, Brussels. Credit: PADredging vessels spend 99% of their working lives in and on water, and yet they are not eligible to receive tied or state aid, unlike other industries or non-EU competitors. That, with some murmurs of flexibility where possible, was the unchanged message to European dredging companies...
Dredging: equality and transparency for all? Dredging vessels spend 99% of their working lives in and on water, and yet they are not eligible to receive tied or state aid, unlike other industries or non-EU competitors. That, with some murmurs of flexibility where possible, was the unchanged message to European dredging companies from the European Commission...
DFDS raises profit forecast on progress in 3Q15 Credit: PADFDS, the Copenhagen-based listed ferry and logistics services group, has raised its earnings forecast for the full year 2015 after reporting strong third-quarter interims on broad-based progress of its business. Group net profit rose to DKK571 million (USD82 million) in the third quarter of this year from DKK350 million in...
HMD books more LPG tankers Korea's Hyundai Mipo Dockyard (HMD) has secured a contract from a returning shipowners for a quartet of LPG tankers. Piraeus-based Eletson Corp has ordered the four 38,000 cbm LPG tankers, bringing its orderbook at the shipyard to 10 vessels. The latest four vessels are scheduled to be delivered from the fourth quarter...
Citigroup advises 'sell' on Malaysia's Westports stock Westport, near Port Klang, Malaysia. Credit: PA Citigroup revised downwards its net income estimate for Malaysia's Westports Holdings in fiscal years 2015-17 (FY 2015/17) by 5-6% and reiterated its 'sell' rating on it stock, despite the terminal operator handling a record 2.29 million teu in the third quarter of 2015 (3Q15). In...
Reputation most at stake for victims of cyber crime ECDIS is among several shipboard systems vulnerable to cyber attack. Credit: Kelvin Hughes.Shipowners must take precautions to protect against cyber crime to avoid financial and reputational losses, although a "widespread" threat to the industry is unlikely, according to the Baltic and International Maritime Council. Speaking at BIMCO's annual conference in Hamburg...
BW LPG third quarter results beat forecast BW LPG, the world's largest VLGC owner that is part of the BW Maritime group, has beaten analysts forecasts in 3Q15 and the company says it should be well positioned to face an expected increase in volatility of freight rates. The company did not comment on rumours that it might present...
Korea Development Bank issues towards Busan New Port Phase 2-4 development Headquarters of the Korea Development Bank. Credit: PASouth Korean state-owned policy lender Korea Development Bank has approved KRW915 billion (USD790 billion) in project financing towards Busan New Port phase 2-4 development. Of the funds, KRW855 billion came from the bank's funds while the rest came from private investors in a public-private...
Sembmarine at greater risk of contract cancellations A Sembcorp Marine rig. Credit: Sembcorp MarineSingapore rig builder Sembcorp Marine (Sembmarine) is at a greater risk of contract cancellations than its bigger compatriot rival Keppel Corporation, an analyst has said. In a report issued on 19 November, UOB Kay Hian Securities analysts Nancy Wei and Foo Zhiwei said, "Between the...
Dry bulk market facing years of weakness, predicts IHS report The poor industry outlook has forced Star Bulk Carriers to delay the delivery of four newbuildings.With most of the developing world in an economic slowdown, a just released IHS report is forecasting prolonged weakness in commodity prices over the next decade, with coal, iron ore and crude oil prices likely...
Solid oil imports driving growth in tanker sector The growth in oil imports will rise by a surprising 4 percent this year with the robust demand, especially from Asian countries, turning the tanker market around, Clarksons Research president Martin Stopford told delegates at a conference in Hong Kong.Stopford said the most positive factor affecting tanker shipping was the...
IHS white paper: Dry bulk market to see its worst yet With most of the developing world in an economic slowdown, an IHS white paper called IHS Global Maritime Trends 2016 is forecasting prolonged weakness in commodity prices over the next decade. Prices for coal, iron ore, and crude oil are all likely to remain depressed for the next few years. The...
Limited enthusiasm for LNG-powered ships in low oil price market TOTE's LNG-fueled Isla Bella.LNG-powered vessels remain firmly on the back burner as the chronic fall in the oil price erases interest in the bunkering alternative to fossil fuels, shipping experts told delegates at a Hong Kong conference this week. "The big operators I have spoken to about powering their vessels with...
Dry bulk crisis: index vs stock performance The contrast was glaring: On 18 November, a day that the Dow Jones Industrial Average surged 246 points, the share price of Scorpio Bulkers plunged 24% in eight times average volume, Star Bulk's stock price sank 21% and Safe Bulkers' price fell 15%. To obtain a broader perspective on the dry...
Canadian companies in the market for Klaveness ships Selfunloader Baldock, pictured here under previous ownership. Credit: FotofliteAlgoma Central Corp and Canada Steamship Lines have agreed to purchase five ocean going ships from Klaveness Selfunloaders AS. Algoma is buying the Panamax self-unloaders Balchen and Baldock. CSL Americas, a division of the CSL Group Inc. is taking the Trillium Class Panamax...
Indian cabinet clears Cochin Shipyard IPO Cochin shipyard, India. Credit: PAIndia's state-owned ship-builder Cochin Shipyard Ltd, struggling to win orders from clients hit by a slowdown, has been given clearance by the Indian cabinet to launch an initial public offering (IPO) of shares to part-fund growth plans. The share sale, likely to happen sometime next year, will...
LPG pricing spurs demand for VLGCs Spot rates rise on higher vessel chartering
MAN Diesel & Turbo acquires Swedish marine fuel and bunkering business Purchase to shape MAN Diesel's profile in the dual-fuel and gas propulsion segment
Greek newbuilding broker George Banos dies Widely liked and admired shipping personality said to have brokered 400 newbuildings
Eletson firms up fourth LR2 at SWS Exercised optional vessel will deliver in 2018
Will the carnage in dry bulk stocks continue? Structural imbalance in the industry signals hard times ahead for companies with large newbuilding orders
UASC says formation of mega carrier will not affect its China Shipping vessel sharing Jorn Hinge says the line is also still open to further co-operation with Hamburg Süd as likelihood of alliance shake-up gathers pace
Yard Talk | Japanese yards resilient though not immune to downturn World's third largest shipbuilding nation takes market share from China
South Carolina volume growth slows Throughput figures slide as cargoes return to west coast
Rhine logjam continues to disrupt fuel markets Historically low water levels are causing fuel shortages in Switzerland and southern Germany and congestion elsewhere
Abu Dhabi port operator reports 36% rise in container volumes for first 10 months Ro-ro operations transfer to upgraded Khalifa port aided growth in that area
India shipping ministry to cut obsolete rules in Merchant Shipping Act Committees formed by government single out redundant shipping rules and regulations
China's gas price cut to boost LNG demand Price cut removes overhang for Chinese natural gas market faced with declining demand
Indian government approves Cochin Shipyard IPO Company shares to help finance expansion projects
Alcoa blames aluminium market for vessel decommissioning International Transport Workers Federation says producer is exploiting local laws to whittle down wages
Four members of CKYHE alliance suspend Asia-US southeast coast service Cancellation to start from December 3
Triyards to build four escort tugs for Greenbay Marine Order adds to range of ships Triyards can build for clients
Marco Polo Marine axes $214.3m rig contract with Sembcorp Marine Cracks found on all three legs of the new rig during tests
HIG Capital invests in Ship Supply International Investment provides resources to capitalise on company's growth potential
Fuel oil stocks at four-month low Players point to a fall in fuel oil arbitrage flows from the West.
Marine engine manufacture acquires LNG bunker specialists 'Natural gas is rapidly gaining importance as a fuel for marine applications.'
Romaina may be fined for failure to adopt sulphur rules Commission is asking Court of Justice of to impose daily fine until the country falls into line.
Demand for oil-based bunker fuels set for long-term decline Fuel efficiency standards will drive down consumption.
Cleartrade: A win-win trading proposition 'Brokers are our largest competitor but also our biggest clients,' says Cleartrade's Richard Heath.
Trafigura's Puma expands storage in Mozambique to create strategic hub Opens oil product terminal in the port of Matola, its second in the country.
(KILLS STORY) Barclays predicts oil demand growth will outstrip current consensus
Transport Canada: Vessel owner of bunker spill to pay Owners of vessel have already paid a $300,000 bond, says spokeswoman.
WFS launches recruitment drive Firm seeking 70 new employees to join team in Central America.
Drewry: Vessel operating costs to increase Small rises in cost of lube oils and other commodities expected, says Managing Director.
US DATA: EIA says crude runs top 16 million b/d, highest since Septembe Greater refinery activity and fewer imports limited the size of crude inventory build.
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