Hyundai Group could sell HMM, says analyst An HMM vessel. Credit: Malte SchwarzThe manner in which cash-strapped Hyundai Merchant Marine is offloading stakes in affiliates suggests its parent company Hyundai Group is planning to divest the shipping line, an analyst has suggested. KDB Daewoo Securities analyst Jay Ryu said in a report that HMM, South Korea's second-biggest shipping...
Super-Eco orders MR2 tanker pair South Korea's Dae Sun Shipbuilding & Engineering has won a contract for the construction of two 50,000 dwt chemical/products tankers. The order for the Medium Range 2 pair was placed by Piraeus-based Super-Eco Tankers Management Inc, with delivery scheduled for the third quarter of 2017. The Panamanian flag vessels will be built...
Joint Finn-Swede maritime move to reduce Baltic shipping pollution Viking Grace: Credit: Jukka KoskimiesThe TEN-T core ports of Turku, Naantali and HaminaKotka in Finland along with Stockholm in Sweden have teamed up with Äland-based Viking Line to invest EUR8.1 milion (USD8.6 million) in measures to cut shipping's environmental impact in the Baltic Sea and improve maritime links between the...
Piracy agreement expands scope to address other maritime crime Djibouti Code of Conduct will broaden scope beyond piracy, it was agreed at its new training centre (pictured). Credit: IMOSignatories to the Djibouti Code of Conduct have agreed to look beyond piracy and broaden the code's remit to address other maritime crime in the region, including marine terrorism, environmental crimes, human trafficking and...
Shipowner Naess fixes Ultramax below market rate The Baltic Dry Index's deterioration to an all-time low has made it a charterer's market.Naess Acquisition LLC, the ship-owning arm of Swiss ship management firm Doris Maritime Services, has stunned dry bulk shipping market by fixing one of its Ultramax vessels at below-market rates. Market sources told IHS Fairplay that the...
More action on liquefaction needed, say marine insurers 'Liquefication risk needs to be addressed, says IUMI's Hemme Hammer. Credit: Cefor_933316P&I Clubs and marine insurers have issued a warning to owners that the danger of cargo liquefaction remains real and have urged that steps are taken to reduce the risk. The Gard P&I club has published new guidance to its...
Tanker group takes initiative to clarify seafarer training approaches Psychologist Claire Pekcan co-authored the reportNew safety training resources from Intertanko to be published next year could prove useful for ship operators of all ship types and trades. The Information paper on safety management initiatives in shipping, written by psychologists Claire Pekcan, vice-chair of Intertanko's human element in shipping committee (HEiSC), and...
South Korea's SW Shipping files for court protection SW Shipping bulker Sea Honesty (ex-Aegean Sea). Credit: HasenpuschMid-sized south Korean dry bulk shipping company SW Shipping has applied for court protection. IHS Fairplay learnt that the application for corporate rehabilitation was made at Seoul Central District Court on 20 November. Four days later, the court also issued an order preventing SW Shipping from...
Maersk Line sees consolidation opportunities Credit: Maersk LineMaersk Line chief operating officer (COO) Soren Toft said Neptune Orient Lines was not its only potential acquisition target, but declined to comment on whether the Danish carrier planned to make a formal bid.NOL recently named Maersk and CMA CGM as carriers interested in its acquisition, but has...
Malaysia works with World Bank to ink new national ports strategy The World Bank is assisting Malaysia to develop a national port strategy to better position its ports sector as a critical facilitator of economic growth. A 10-month study that will provide recommendations that make up the core of the new strategy is underway and due to be completed in the first...
China Merchants plans to invest in Lithuanian port gateway HONG KONG - Chinese leaders seldom miss an opportunity to punt their One Belt, One Road trade strategy, and when premier Li Keqiang met with Lithuanian prime minister Algirdas Butkevicius in east China's Suzhou City, he called for more progress in joint railway and port projects. "As 2016 will mark the...
Canadian Coast Guard rescues drifting Tote-owned cargo ship Ro-ro North Star reported southward bound under its own power
Panamax index hovers above 10-month low Overall rates decline but there is talk of coal tonnage picking up in Asia as BCI jumps 33% this week
Gothia Tanker Alliance orders four LNG-fuelled tankers from Chinese yard Avic Dingheng Shipbuilding to deliver newbuildings featuring dual-fuel/LNG propulsion from 2018 to 2019
IMO could push through ballast water convention as tonnage figures teeter at 35% With Indonesia and Morocco ratifying and Finland about to, the IMO says stalled convention could be in force in November 2016
Big four tanker owners eye promising fourth quarter Fourth-quarter spot bookings already stand out, but pressure on market could loom around the corner
China's 10 biggest ports handled fewer containers in October Volumes drop as exports fall for a fourth straight month
Topaz falters as long-term charters end Offshore operator records lower revenue and profit in difficult market
Maersk Line plans to keep deployed capacity flat in 2016 Carrier cites agility as key in period of unpredictable growth
Oldendorff cuts orderbook by 20 ships As dry bulk sector weakens on an oversupply of vessels amid slowing demand, owners are taking steps to redress the imbalance
Ardmore Shipping takes delivery of two newbuilding tankers New additions bring total number of vessels on water to 24
Shipping measures cut more CO2 emissions than most nations, says ICS Industry cut total CO2 emissions by more than 10% between 2007 and 2012
Indonesia and Morocco sign ballast water management convention Total number of ratifications now totals 46 flag states representing an estimated 34.1% of world fleet
Safe Bulkers announces $20m share-repurchase programme Buybacks to be funded with company's existing cash resources
Sharjah Ports Authority takes delivery of Damen ASD tug Tug built at Damen Shipyards Sharjah in Hamriyah Free Zone
SFI plays conservative in future tanker investment Dynamics in the offshore market make it a less desirable time to go big on tanker
Seadrill in talks to postpone newbuilding deliveries Company well positioned with new fleet when industry upturn comes
Descartes acquisition aimed at serving smaller customers Descartes Systems has acquired Oz Development in a $29.5 million deal that will allow the company to extend its access to small-to-medium sized customers. It's the third major acquisition for Descartes in what the Waterloo, Canada-based firm global logistics software developer has called a "breakout year." The acquisition fits into Descartes'...
DHL names new Express Americas CEO DHL has named Mike Parra, a long-time logistics professional, to the position of CEO DHL Express Americas, replacing Stephen Fenwick, who is retiring Dec. 31. Parra will leave his current post as CEO of Express U.S. operations and become CEO of DHL Express Americas Jan. 4, 2016. Greg Hewitt, who led...
Oakland terminal experiments with extended hours The Oakland International Container Terminal is piloting a program of night and weekend gates to help relieve congestion, a strategy that is expected to go port-wide at the Northern California port in early 2016. Oakland has a high concentration of transactions at each terminal, and as a result long truck queues...
Malaysia developing national port strategy with World Bank Port of Tanjung Pelepas The World Bank is assisting Malaysia to develop a national port strategy to better position its ports sector as a critical facilitator of economic growth. A 10-month study that will provide recommendations that make up the core of the new strategy is underway and due to be completed...
Maersk Line eyeing more than NOL for acquisition Maersk Line Chief Operating Officer Soren Toft has said Neptune Orient Lines is not its only potential acquisition target, but he declined to comment on whether the Danish carrier planned to make a formal bid. NOL recently named Maersk and CMA CGM as being interested in its acquisition, but has since...
National strike affects work on Panama Canal expansion Work on the nearly complete expansion of the Panama Canal was affected this week by a 24-hour national strike by a construction workers' union protesting alleged court corruption and a possible increase in the nation's retirement age. Suntracs, the largest union in Panama, called the walkout Tuesday. It was the latest...
Nordic Hamburg: LNG container ships still commercially viable TOTE's LNG-fueled Isla BellaThe sharp drop in bunker prices has not undermined the competitiveness of new liquefied natural gas-powered container feeder ships for the North/Baltic Sea sulphur emission control area, according to German shipowner Nordic Hamburg. The company has six 1,400 twenty-foot-equivalent unit container ships with dual-fuel engines on order at...
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