European shipowners submit survival plan to EC European shipowners have published 16 proposals for the European Commission to revive Europe's maritime clusters and regional shortsea shipping sector. The initiative hails from the European Community Shipowners' Associations (ECSA), which wants to influence the European transport commission's maritime legislative strategy currently being developed for 2017 - the EC's designated "European...
Korea Shipowners' Association pleads for aid for Hanjin, HMM Credit: HasenpuschThe Korea Shipowners' Association (KSA) has pleaded for more to be done to assist Hanjin Shipping and Hyundai Merchant Marine (HMM) as the country's two biggest shipping companies continue to struggle with cashflow. In a letter jointly addressed to the National Assembly, Korea Development Bank, the Ministry of Strategy and...
OW Bunker's trades with Tankoil had 'no commercial basis', says trustee's report The manner in which bankrupt Danish marine fuels supplier OW Bunker's Singapore-based subsidiary traded with its main customer made 'no commercial sense', a trustee's report has found. In a report released by OW Bunker's trustee Soren Halling-Overgaard on 29 December 2015, following a probe into the events leading up to the...
Sharing the risk of a cyber attack Sharing information among competitors does not come easy for private companies, but pressure to do so is mounting as lawmakers and the maritime industry look for ways to reduce the risk of a cyber attack along the United States' waterfront. Strengthening Cybersecurity Information Sharing and Coordination in Our Ports Act of 2015,...
Samudera sells two vessels for USD4.86 million Singapore-listed Samudera Shipping has sold two vessels for a total value of USD4.86 million to Indonesian logistics company, PT Samudera Energi Tangguh. The two vessels sold are Sinar Bukom and Sinar Tokyo, at the price of USD360,000 and USD4,500,000 respectively. Samudera is expected to make a gain of USD34,793 from the 1990-built...
China approves merger of China Merchants and Sinotrans China approved the merger of China Merchants Group and Sinotrans & CSC as it continues to restructure its state-owned sector and create companies that can compete internationally. The country's State-owned Assets Supervision and Administration Commission (Sasac) said in a statement on Tuesday the merger was cleared by the State Council, China's...
Keppel, Triyards end the year with contract wins Singapore-based Keppel Offshore and Marine (Keppel O&M) and shipbuilder Triyards Holdings ended the year securing contracts despite challenging market conditions. Keppel O&M managed to win four contracts worth a total of SGD125 million (USD88.6 million) from repeat customers. Two of the contracts involved conversion projects for fitting an LNG floating storage...
Philly Shipyard secures $150m loan for four tankers The facility is a continuation of cooperation between Philly Shipyard and Caterpillar Financial Services Corp
Dalian Port appoints new general manager and vice-chairman Former vice-chairman resigns due to work reallocation
India's Jawaharal Nehru Port Trust starts work on inland dry port project Project in line with India prime minister Shri Narendra Modi's industrialisation and 'Make in India' initiative
Beijing gets tough on box lines misreporting freight rates Ministry of Transport has fined eight container carriers including Maersk Line and Cosco
View from the bridge: Soeren Andersen Rickmers Maritime Trust can be considered a bellwether for containerised shipping as lines tend to return chartered-in ships when overcapacity bites
Samudera Shipping offloads two small chemical tankers to affiliate Sinar Bukom and Sinar Tokyo sold for $360,000 and $4.5m respectively
Global box line schedule reliability improves in November Taiwan's Wan Hai, a non-alliance member, emerges as most reliable carrier
Triyards clinches $21.8m oil barge contracts from Taiwan's CPC Vessels due for delivery in second quarter of 2018
Low oil prices putting a break on LNG bunkering 'Under the current lower oil price environment, the savings advantage of using LNG could be far less than anticipated,' claims OPEC.
OW Bunker: Lawyers report wave of ship arrests India legal firm has been involved in 65 arrests on behalf of ING.
Altor, others may be asked to pay back $175 million OW dividend Ad hoc trustee says there may be cause to claim reversal of December 2013 payout.
LNG bunker market set to grow at an 'astounding' rate Market will expand at a rate of more than 60% a year for the next ten-years, claims report.
Thailand's Sea Oil Petroleum to start trading operations in Singapore Bunker fuel trading to start January 2016.
Report: OW Bunker's IPO valuation 'significantly overstated' Fair market value assessment up to four times higher than indicative offers from industry players when Altor first sought to sell OW.
Taiwan's CPC books bunker barges Pair of bunker barges scheduled for delivery in Q2 2018.
Report suggests OW Bunker's IPO valuation was 'significantly overstated' Fair market value assessment used for IPO up to four times indicative offers from industry players when Altor first sought to sell OW.
Singapore MFM bunkering trials on track for 2017 deadline: MPA Existing bunker tankers delivering fuel oil at Singapore will be ready by Jan 2017.
Singapore Jan ex-wharf 380 CST bunker fuel concludes at $1.50-$2/mt premium High spot market premiums for 380 CST bunker fuel in January deterred sellers, say traders.
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