Libyan air force strafes tanker A product tanker has been strafed by the Libyan air forces amid tensions between rival political groups. The 2004-built 35,000 dwt Anwaar Afriqya was attacked while being docked at Sirte. IHS Maritime's AISLive vessel-tracking data shows Anwaar Afriqya loaded gasoil in Piraeus, Greece, in mid-May
Five bidders to develop Davao port Five companies are now bidding for the development of Davao port, an official confirmed with IHS Maritime. "Yes, there are now five bidders and the names of the companies are correct," an official with the Philippines' Public-Private Partnership (PPP) Center said when asked about two new entrants.
UOB Kay Hian recommends 'sell' for Nam Cheong Singapore-based brokerage house UOB Kay Hian recommended that investors sell their shares of offshore support vessel owner Nam Cheong because of the company's earnings volatility. Analysts from UOB Kay Hian have set a target price of SGD0.28 (USD0.20) per share. The stocks are currently trading at
EA Technique's profit up 92% Malaysia-listed marine vessels operator EA Technique posted a profit of MYR7.4 million (USD2.04 million), up 92% for the first quarter that ended on 31 March 2015, compared with MYR3.8 million in first-quarter 2014. Revenue hiked to MYR72.7 million in first-quarter 2015 from MYR36.2 million in the
Port Otago plans USD22m expansion New Zealand's Port Otago is the latest to join the race to become one of three or four big ports capable of handling container ships larger than 4,500 teu in the country. Port Otago's NZD30 million (USD21.93 million) capital dredging programme includes dredging the shipping channel and the container
Land reclamation at Kaohsiung to start in May Land reclamation and reinforcement work at wharves S4 and S5 of the Intercontinental Container Terminal Phase 2 of Kaohsiung port is expected to commence in May and finish by end of 2017. Taiwan International Ports Corporation (TIPC) expects to invest TWD3.98 billion (USD130.48 million) to
Bodies of sunken barge victims found The bodies of two crew members from the sand barge that sank off Malaysia on 20 May have been found. The body of Malaysian crew member Raja Mohammad Firdaus Raja Ikram was found at 03:45 h local time on 22 May by a search and rescue (SAR) team and was brought to Kampung Idaman mosque in Klang,
Perdana Petroleum's profit drops 58.7% Malaysia-listed offshore services provider Perdana Petroleum posted lower profit for the first quarter that ended on 31 March 2015 at MYR9.08 million (USD2.5 million). The first-quarter 2015 profit declined 58.7% from MYR22 million in first-quarter 2014 because of lower vessel utilisation. Revenue
Mercator Lines (Singapore) suffers losses again Singapore-listed dry bulker shipping company Mercator Lines (Singapore) suffered a loss of USD125.3 million for its full financial year (FY) that ended on 31 March 2015, from losses of USD22.7 million in 2014. This has marked a third consecutive year of losses owing to lacklustre dry bulk market
Nine rescued from sinking vessel off Gaolan port Nine crew members of a Chinese cargo vessel were rescued after it sank off Gaolan port in Zhuhai, China, on 21 May. The crew of Yue You Lian 68 were moved to a tug at 20:12 h local time, about 13 minutes before the vessel sank near the main channel of Gaolan port, a statement of the Zhuhai Maritime
Environmental study for Abbot Point expansion starts Studies for an environmental impact statement (EIS) have begun for the proposed expansion of Abbot Point, Australia's biggest coal port. Located 25 km northwest of Bowen in Queensland, Abbot Point currently has a capacity of 50 million tonnes per annum. The proposed expansion will increase its
Real highs and lows among box lines Container lines' 2014 financial figures range from very strong to extremely poor. Why is the industry producing such diverse results?
Attica Group scores best first-quarter result in years Significantly reduces loss in weakest quarter for ferries
Data Hub: Trade Lane Analysis Hitting a Bric wall: Slowdown in imports to Brazil leads to overcapacity on Asia-South America trades
Vale and Cosco's beautiful friendship The agreements signed this week involving Vale and several of China's shipping giants are a triumph of mutual self-interest
US west coast ports in race to find new employment model after ILWU peace deal Union members give massive endorsement to new contract with 82% voting in favour
Trucking executive calls for consolidation in harbor drayage If harbor trucking companies and marine terminal operators hope to survive in the cutthroat port environment, their numbers must be reduced. The industry needs fewer, larger, better-capitalized companies, according to a Southern California trucking executive. "We need more consolidation in the industry," Vic LaRosa, president of TTSI, told a meeting of...
Indian shippers gain new intra-regional service at Krishnapatnam Krishnapatnam Port Container Terminal, an emerging alternative gateway on India's southeastern coast, last week celebrated the first vessel call of the Chennai-Colombo-Gulf (CCG) service, a weekly intra-regional loop operated jointly by Simatech Shipping and Evergreen Line. The Simatech container ship Taroko arrived at KPCT on May 21, officials at the private terminal told...
Intermodal shippers' growing hunger Although some of us may have read Charles Dickens' "Oliver Twist," most of us are more familiar with the movie "Oliver!" Who can forget the title character's plaintive plea, "Please sir, I want some more." In the novel, Oliver's request was determined by starving boys at the workhouse, who drew...
Japan-US trade growth charges forward Merchandise trade between Japan and the United States is expanding at a breakneck pace, as Japan's exports and imports both charged ahead by more than 20 percent for the second straight month in April on a year-on-year basis. This contrasts starkly with sluggish growth in Japan's trade with other major trading...
Higher charter, fuel costs squeezing carriers Rising charter costs and bunker prices might slow container lines' rate push. It has been a sobering fortnight for the liner shipping sector, with most of the freight increases from the May 1 general rate increases on several trade lanes disappearing fast. Last week, average spot rates from the Far East...
South Asia to Middle East trade a rare bright spot for carriers New container cranes are delivered to the UAE's Jebel Ali terminal 3. Shanghai to Jebel Ali rates increased by 15 percent in April.HONG KONG - Container shipping lines are enjoying strong westbound traffic growth to South Asia and the Middle East, giving carriers a ray of hope at a time...
Avance duo all fixed Avance Gas said repairs of two very large gas carriers (VLGCs) are complete, allowing the delayed ships to get to work after running into problems shortly after delivery.
Transatlantic 'waking up' The westbound transatlantic container trade rose sharply in the first quarter as Mexico and the United States took in more container cargoes from northern Europe, Drewry Maritime Research said.
Chinese state yards surge Shares in China Shipbuilding Industry Corp (CSIC) and China State Shipbuilding Corp (CSSC) rocketed 10% today as industrial stocks surged following government spending announcements.
A different experience With any maritime casualty concerns over resultant spills are common place.
Engelstoft: 'no DSME deal' Maersk Tankers is denying reports that it has placed an order for two suezmax tankers at DSME.
Shell's Arctic protest One of two protesters who chained themselves to a Shell barge in Seattle was still there on Monday.
Mercator plots share split Bulker owner Mercator Lines is carrying out a reverse share split to meet minimum trading requirements in Singapore.
TEN MLP off table for now Tsakos Energy Navigation is holding back on plans to launch an MLP given the distressed pricing in the market today.
Bharati gets cash infusion Restructuring fund Edelweiss has secured INR 5bn ($78.64) to help revive troubled Indian shipbuilder Bharati Shipyard.
Frontline set for profit John Fredriksen's Frontline is expected to bounce back into the black when it reports its first quarter accounts this Friday with questions again being asked about a potential merger with Frontline 2012.
Essar cuts loss India's Essar Shipping has reduced red ink in the fourth quarter as it brought costs down.
Peter G's career in numbers Few shipowners can rival Peter Georgiopoulos's appetite for a transaction but as he prepares to take Gener8 Maritime to Wall Street the scale of his deal-making has been disclosed.
Boxship fire under control A fire on a Maersk boxship in Germany has been contained.
Gener8 closes on VL funds Gener8 Maritime is closing in on export credit funding worth over $1bn for its vast VLCC newbuilding programme, its IPO prospectus says.
Liner clause under review Singapore is seeking public feedback on a competition exemption for container lines as a five-year deal nears its end.
GPRT takes over duo Greece's Goldenport Holdings (GPRT) has assumed 100% ownership of two bulkers after it terminated a joint venture with Glencore's Topley Corporation.
Libyan air force bombs tanker One man killed as General National Maritime ship set ablaze after jets attack it off Sirte.
Gener8 files for IPO Gener8 Maritime filed for an initial public offering (IPO) late Friday.
Bahri books VLCCs The National Shipping Company of Saudi Arabia (Bahri) has ordered five VLCCs at Hyundai Samho Heavy Industries.
Uni-Asia CEO buys stock Uni-Asia Holdings chief executive Michio Tanamoto has acquired some 600,000 shares in the Singapore listed bulker to hotels group.
Iraq's largest oil refinery set ablaze Refinery once produced a third of the country's oil output.
LNG bunkering project applies for EU finance Klaipedos Nafta developing LNG infrastructure in the Baltic.
Aegean to post quarterly results mid-week Analysts expect fall in year-on-year revenue.
Singapore sentiment expects rising market Prices to firm over coming months, say traders.
Container sector reliability drops New data appears to confirm the disruption to port operations generated by the deployment of ultra-large containerships.
Argentina's grain ports hit by strikes At height of export season.
Supplier doubles sales after installing MFMs Investment has already paid for itself, CYE Petrol tells Bunkerworld.
2010 grounding: Clean-up costs could exceed $39 million Australia's Great Barrier Reef Marine Park Authority backs decision to pursue owner through the courts.
EAL-compliant propulsion packages introduced Equipped vessels 'allowed to operate freely in US coastal waters', says spokesman.
Fuel testing agency in scrubber cooperation First US ship installation said to be 'very close' after extensive land-based trials.
Andatee to miss quarterly reporting deadline Report 'cannot be completed without unreasonable effort or expense', company says.
Philippine Navy receives first bunker tanker Vessel one of three ships from the Philippine National Oil Company.
Dubai: Maritime arbitration centre in 'final stages' Arbitration centre will be fully independent, says Minister Of Public Works.
Middle Eastern shipping firm buys fuel-saving VLCCs Contract inked for up to 10 newbuildings.
Chartered ships to be fitted with 'energy management' tool Neste: One of first ship operators to install energy management systems on third party ships.
TEN doubles quarterly profit Low oil prices underpinning return to upcycle in tanker market, says CEO.
USCG: New rules for STS transfers of oil cargoes at sea Shipowners and operators reminded of changes that came into effect on May 5.
Seattle talks up 'cold ironing' Technology is developing and relevant, says port spokesman.
Gazprom Neft's Q1 bunker sales strengthen Despite fall in oil prices.
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