Ecoslops has expansion on the cards as vessel operators see discharge rates rise Ecoslops has its eye on new sites to expand its capability of producing recycled marine fuels, at a time when vessel operators are under increasing pressure to dispose of their slops. Ecoslops, the first to develop the technology to do this, have...
Exmar profits hit by low pressurised LPG carrier rates Gas transport specialist Exmar saw provisional full-year profits sink 39% year on year to USD41.4 million last year after disappointing results from its small pressurised liquefied petroleum gas (LPG) tanker business. The Antwerp-based company reported increases in its operating results in its liquefied natural gas (LNG) and offshore...
HMM sells remaining stake in Hyundai Asan, borrows from Hyundai Elevator Embattled South Korean liner shipping company Hyundai Merchant Marine has disposed of its stake in affiliated tour operator Hyundai Asan and took a loan from another affiliate. HMM on 29 January 2016 announced that it sold its remaining 33.8% stake in Hyundai Asan, comprising 8,087,753 shares, for KRW37.4 billion (USD31 million). On...
New Corsican ferry operators plan to merge The future of ferry services between the island of Corsica and the French mainland has been thrown into confusion by the announcement of plans by the Corsican local government authority to set up a new ferry company under its own control. The authority, which plans to bring the new company into...
Europe diesel glut worsens as Asia cargoes to flood market within weeks Europe's diesel glut is set to worsen, with just under 3 million tonnes already tracked being imported in to the region over February and the first half of March, adding to 1 million tonnes currently in temporary floating storage on ships. Some...
Qube's bid to trump Brookfield for Australia's Patrick ports The bidding war between Australia's Qube Holdings and Canada's Brookfield Infrastructure group for Asciano rail and ports business intensified on 28 January, with Qube attempting to trump its competition. In a new proposal announced to the Australian Stock Exchange, Qube chairman Chris Corrigan has put more money on the table in...
KSS Line seals charter deal with SIETCO South Korean chemical and LPG shipping company KSS Line said on 29 January 2016 that it has won a time-charter contract with Shell International Eastern Trading Co (SIETCO), the trading arm of oil major Anglo-Dutch Shell. The contract, worth KRW86.8 billion (USD72.6 million), will last seven years from May 2017. Company representatives said that an 84,000 m3 VLGC it ordered from...
Keppel, Sembcorp Marine could merge offshore and marine businesses Amid talk that Singapore government's investment company Temasek Holdings wants to divest its stakes in Keppel Corporation and Sembcorp Marine, analysts have opined that a merger of the two groups' rig building businesses is a possibility. Reportedly, on 25 January, Temasek, during a...
MOL expects USD1.5 billion annual loss as it draws up structural reforms Japanese carrier Mitsui OSK Lines (MOL) has forecast a USD1.5 billion loss in its 2015 financial year that ends on March 31 as demand falls away in all its shipping markets and the line cuts surplus tonnage in its dry bulk and container units.The expected loss is...
Emissions requirements for China YRD ports compulsory from April 1 The main ports of China's Yangtze River Delta (YRD) will introduce compulsory emissions reduction requirements from April 1 this year with non-compliant ships potentially facing fines of up to USD15,000 under national air pollution laws. China's Ministry of Transport (MoT) issued an update to an original directive that established emissions control...
Concordia reports 'best year since 2001' Sweden's listed product tanker company Concordia Maritime has reported positive figures for 2015, proving that for some, low oil prices are an opportunity to profit if the right charter-spot balance is struck. Profit before tax soared y/y to SEK174.3 million (USD20.5 million) - nearly...
Lack of fixtures dampens VLGC spot market Further dips in freight rate anticipated
CMA CGM teams up with IRISL to grow Iran market Update: Memorandum of understanding covers space sharing on each lines' ships
Port of Indiana-Jeffersonville sets new annual shipping record Results were driven by heavy volumes of agriculture and steel products
Supply chain at risk as box weight rules approach Analysts warn of disruptions when new Solas regulation comes into force
Capital Product locks in more tankers as earnings rise Partnership declares steady distribution to unitholders
Salvors board Modern Express Difficult intervention will take several hours, according to French authorities, but ship could be under tow by this afternoon
Dry bulk: Get in now to reap rewards in next few years if you can afford it Dire market conditions creates opportunities for new entrants
S&P overview: Time for asset play? The tanker sector has been bullish, but asset players seem to be shifting attention to young capes and boxships
Container shipping braced for grim year Surplus ship capacity, price wars, alliance reshuffles and weak economies a nightmare mix for ocean carriers
Price pressures will dictate volume of US LNG If US plants do not operate at full capacity, ships will be left without employment
India: No knight in shining armour for dry bulk in 2016 Market will have to look elsewhere for positivity as vessel oversupply leads to record lows
Confusion on the winding road to ship recycling Proposals for a green levy on owners and uncertainty over the beaching method overshadow news that a handful of countries may ratify the Hong Kong convention
Will clean energy mean the death of the tanker trade? What COP21 means for fossil fuels, and the future of oil and gas transportation
Will baby bonds deliver? Baby bonds might offer desperately needed capital to cash-starved shipping companies at a lower cost than preferred shares and with very few, if any, covenants
Bulk trades to harvest an agricultural windfall from TPP Trans-Pacific Partnership strengthens trade rules and open doors for US agriculture exports
Is Narendra Modi's river drying up? The clock is ticking on the Indian prime minister's grand plan for ports development - with little accomplished yet
Pearls on a fraying string Sagar Mala will offer huge riches if Narendra Modi's government can pull it together
Angola LNG restart still unclear Angola says it does not comment on the status of its cargoes
Coherence, please An unco-ordinated approach to environmental regulation is resulting in confusion, uncertainty and an understandable reluctance by shipping to act
Asia-Europe box rates continue descent With Chinese New Year fast approaching, carriers can expect further downward pressure in the weeks ahead
Capesize dips on week Cyclone forces closure of ports in Western Australia
Costamare soars after strong results underline consistency Boxship owner faced reports that underestimated liquidity and exaggerated re-chartering risk
China Merchants Energy Shipping inks VLCC charter with Shell Very large crude carrier spot market expected to soften during 2016
Origin Energy posts strong production numbers for December quarter Boost attributed to increased gas production from Australia Pacific LNG project
Oil tankers fixed for short-term storage on US Gulf coast Vessel demand for diesel arbitrage and storage could support tanker rates ahead
Fortescue reports modest increase in iron ore shipments Miner continues to slash costs in battle for larger market share
MOL reports 47% drop in nine-month profit, expects full-year loss MOL to implement reforms due to "severe" business environment
China Ocean Shipbuilding Industry mulls name change Proposed new name will better reflect group's revamped business strategy
Shipping market glut dampens K Line results Consolidated net income plummets 72%
Tidewater suspends dividend and share buyback programme Company looking to conserve cash as oilfield services market continues to weaken
Singapore scraps ban on financial transactions with Iran Singapore relied on Iran for 6% of its total fuel oil imports prior to sanctions being imposed.
GLOBAL VLCC TRACKER: Ample supply, weaker activity see trade ease VLCC sailings, landings in key centers slide on tepid activity.
Singapore Feb ex-wharf 500 CST bunker prices higher at minus $1 to plus $2/mt Term prices for the RMK grade firmed from Jan.
IBS offers low sulfur marine diesel at Darwin 10 ppm and 0.5% sulfur available from Feb.
West Australia's Port Hedland shuts ahead of cyclone Port Hedland closed at 11:12 am Western Australian time (0312 GMT) while Dampier to close later in the day.
60 bunker tankers approved for MFM: MPA Total of 60 vessels approved for MFM bunkering to date.
Hellenic Petroleum refinery workers to start strike Friday: sources Bunker fuel prices firmed at Piraeus, Greece.
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