Bulker aground in Patricia aftermath A bulker is at risk of becoming severely damaged after running aground on Mexico's Pacific coast in the aftermath of Hurricane Patricia, according to local reports. The 1993-built, 71,665dwt Los Llanitos, operated by Mexico City-based Naviera Para Mineral, had attempted to wait out the storm while
Shipyard Reimerswaal moves to Vlissingen Dutch dredger and general ship repairer Shipyard Reimerswaal is to move its entire business to the port of Vlissingen by early 2017. It will open a brand new yard along the Quarles Port in Zeeland Seaports' Vlissingen-Oost area. Established in 1985, the yard is currently located on the bank of the
Malaysia arrests vessels suspected of illegal fuel transfer The Malaysian Maritime Enforcement Agency (MMEA) has detained two vessels over the alleged illegal transfer of fuel off Pengerang, Malaysia. According to Tanjung Sedili MMEA chief Amran Daud, the agency arrested Singapore-registered Chelsea II and China-registered Lu Rong Yuan Yu 978, about 2.2 n
Hyundai HI cuts its losses Hyundai Heavy Industries (HHI) lost KRW434.1 billion (USD383 million) in the third quarter of this year, although this is an improvement on the record KRW1.175 trillion loss for the same period in 2014. However, its subsidiary, mid-tier shipbuilder Hyundai Mipo Dockyard, returned to the black,
Singapore could offer multiple LNG bunkering licences The Maritime Port Authority of Singapore (MPA) could grant more than one licence for bunkering liquefied natural gas (LNG) over the next two years. Andrew Tan, chief executive of authority, made the announcement at the Singapore Maritime Institute Forum 2015, after receiving multiple proposals from
Sewol salvors complete oil clean-up Salvors working on hoisting the capsized ferry Sewol have finished cleaning up all residual fuel oil. South Korea's Ministry of Oceans and Fisheries announced that this had been achieved on 25 October, after nine tanks and decks C and D of the ferry were finally cleaned. The ministry said, "While
Belgians buy into bunkering vessel Belgian gas infrastructure company Fluxys is to buy a 25% stake in an LNG bunkering vessel being built for Japanese carrier NYK at Hanjin Heavy Industries & Construction. Neither the amount that Fluxys is paying nor the vessel price was disclosed. The vessel will offer LNG fuel from its home port
Van Oord-JSW set to win India's first PPP dredging deal A consortium of the Netherlands' Van Oord Dredging and Marine Contracting and India's JSW Group is the sole remaining bidder for a contract to deepen the channels at state-owned Mormugao Port in Goa, India. The outer channel will be dredged to 19.8 m and the inner channel to 19.5 m to accommodate
Analysts ease downward forecast for 2016 VLCC earnings VLCCs have been forecast to earn an average of USD45,000/day in 2016. This is a slight upward revision of an earlier prediction by Erik Nikolai Stavseth and Kurt Waldeland, shipping analysts at Arctic in Oslo. The 2016 figure is, however, lower than the average for this year so far, USD55,000/day.
Jawaharlal Nehru port to deepen access channel Jawaharlal Nehru port, India's busiest container gateway located near the country's financial capital Mumbai has decided to settle for a 15 m draft instead of an earlier plan to dig its 33.5 m long access channel to 17 m because of high costs and lack of incremental benefits. The state-owned port,
FSLTM acquires MR tanker for $21.8m Singapore-listed FSL Trust Management (FSLTM) has bought a secondhand MR product tanker for USD21.8 million as part of its fleet renewal programme. The 2007-built, 45,998 dwt tanker is scheduled for delivery between 1 November 2015 and 31 January 2016 and is intended for employment in the spot
Maersk Group signs LOI with Indonesia to boost trade, connectivity Maersk Group has signed a letter of intent (LOI) with the Indonesian government to develop maritime and economic sectors, as well as connectivity in Bitung, eastern Indonesia. The LOI, according to Jakob Friis Sorensen, president director of Maersk Line Indonesia, will focus on developing maritime
VLCC spot rates fall to six-week low Disappointing early November loading programme erodes earnings for the big 2m-barrel crude tankers
Precious Shipping sees recovery slipping away Owner links easing in scrapping to lower October rates
China's new stimulus not likely to help dry bulk markets Second-largest economy cuts interest rates ahead of new five-year plan aimed at stimulating economy through consumer-related services
Who is shipping's big cheese? Choosing the industry's top powerbroker was always going to be contentious, as the Solent Maritime Society proved
El Faro shows need for D&O cover, Standard syndicate argues Shipping company executives should consider huge cost of compensation claims
Arkas Line makes north European debut Turkish carrier joins forces with Hapag-Lloyd on WAX service
Insurance Act 2015 will help owners, conference told Changes to disclosure requirements work in clients' favour
Hyundai Mipo turns third quarter profit Yard puts its worst quarter behind it with profitable three months
HPH Trust reports improved underlying performance Like-for like profits up 3% to $156m despite flat volumes
Operational excellence will be increasingly rewarded, says Capital Link Upcoming conference underlines increasing interest in CSR but investors lag
Cheniere Energy expects first US LNG cargo export in January Company will also offer spot cargoes from mid-2016
Gard slams English courts' 'piecemeal approach' on OW Bunker US and Canada show greater flexibility, P&I club argues
Smaller Greek shipowners continue disappearing act Petrofin study sees consolidation trend slow, but bigger owners dominate fleet
LR to help China design shipborne nuclear power station China plans mobile nuclear power for energy intensive offshore installations which mirror Russian endeavours
Hapag-Lloyd stands by earnings guidance Says full-year ebitda in line with expectations
PSA signs pact with polytechnic to promote maritime careers Partnership will incorporate port operations, planning and logistics into the polytechnic's curriculum
More than 100 people hurt in Hong Kong ferry collision Vessel was carrying 163 passengers and 11 crew members
Singapore positions itself as a gas trading hub LNG terminal is region's first storage facility that can be used for trading activities
Indian naval ship visits Incheon port Visit is part of India's Act East policy to engage with East Asian countries
Greece delays Piraeus port bid deadline to December 3 Country's effort to privatise state assets has run into resistance
FSL Trust acquires medium range tanker for $21.8m Cash purchase seen as a milestone in the trust's turnaround efforts
Milaha announces rise in net profits Strong net profit growth in most business segments
Chronicle of casualty The tragic loss of ship such as El Faro reminds us that nobody, even today, can take the sea for granted
Ryder profit rises, as its capacity remains in demand Too much truck capacity? Not at Ryder System. Ryder isn't a for-hire trucking operator, but its equipment, whether leased or rented, moves a lot of freight. And demand for Ryder's equipment was strong in the third quarter, indicating that truck capacity, while looser than a year ago, is not too loose. In...
Terminal operators, container lessors warned of China economic slowdown pain China's economic slowdown threatens container terminal operators and container-backed securities, according to two new financial advisory reports. The warnings from Jefferies and Fitch Ratings highlight how the slowdown in Chinese manufacturing, directly affecting inbound and outbound volume handled by container lines and ports, could harm actors in the global supply chain....
New CSX intermodal service aimed at grabbing highway freight CSX Transportation will launch a new domestic intermodal rail service next week connecting the Ohio Valley to Pennsylvania and Texas in a bid to compete directly with the railway's over-the-road competitors. The new service will run Monday through Friday from the CSX-served Northwest Ohio Intermodal Container Terminal Facility in North Baltimore,...
Major Automaker Conquers Weather When the temperature dropped, snow fell and traffic stopped, a major automaker relied on support from its ocean carrier partner to keep its supply chain and assembly line running. Any carrier can deliver port-to-port services but then you carry the burden of final delivery. It's time to start contingency planning for the...
Hong Kong's emissions rule: No infringements The authorities have said they will make surprise vessel inspections.
Malacca Strait 'pirate attacks' are insurance scams Indonesian naval official says 90% of reports of pirate attacks in Malacca Strait are 'filed with ulterior motives'.
OW: Singapore likely to follow London's lead According to lawyer in London bunker appeal case.
Bunker players 'in negotiations' to resume deals with Iran Two 'major companies' poised to start supplying Iranian vessels when sanctions are lifted.
CARB approves another emissions reducing system Technology to be tested at the port of Long Beach.
Vague text on ship emissions in latest Paris climate deal draft Consolidated text calls for 'limitation or reduction' of GHG emissions from bunker fuels, but gives little clue as to how.
Singapore: Vessels detained over ship repair dispute Marine supplies provider files caveat against one vessel's release and payment.
Gas infrastructure firm invests in LNG bunker tanker Vessel scheduled for delivery during the second half of 2016.
North American approach to OW debt settlement 'better' Mechanisms adopted 'has shown far greater flexibility and ingenuity', says P&I Club.
OW: Latest verdict offers market direction, say estate lawyers Lord Justice at London Court of Appeal has described the issue as 'reasonably clear', says group.
Andatee's delisting confirmed Stock delisted 10 days from date of filing.
Gard: North American approach to OW debt settlement 'better' Mechanisms adopted 'has shown far greater flexibility and ingenuity', says P&I Club.
OW/ING Lawyers: Latest verdict to offer market direction Lord Justice at London Court of Appeal has described the issue as 'reasonably clear', says group.
NASDAQ confirms Andatee's delisting Trading to continue on the Pink Sheets.
Malaysia: Ships held over alleged illegal MGO transfer Singapore and China flagged vessels caught in the act without permit, authority says.
Mexico's Pacific ports reopen After avoiding the worst of Hurricane Patricia.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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