EU places of refuge guidelines 'will improve response times' New European Union guidelines on the provision of places of refuge will help to avoid delay in assisting vessels in distress in future, according to European shipowners' body ECSA. The newly adopted guidelines have been drawn up in response to anger over the...
India's inter-modal operator Concor eyes shipping sector India's state-owned inter-modal operator, Container Corporation of India Ltd (Concor), is planning an entry into the shipping business as part of a diversification into related areas and become an integrated transport services provider encompassing all modes, a top executive at the New Delhi based firm said. "We...
UK warns ship crews on Zika virus sexual transmission Crews on ships calling at ports in regions currently affected by the Zika virus should be aware that the virus can be transmitted through sexual contact as well as blood transfusion, according to information distributed by UK health bodies. While the...
Western Bulk to restructure its business Western Bulk, the listed Oslo based dry bulk shipping group, has revealed a restructuring programme that calls the sale of its key chartering business unit and to change the terms and conditions of its bonds. The company has agreed to sell Western Bulk chartering, which...
Vard to design Chilean navy icebreaker Vard Holdings subsidiary Vard Marine has secured an order to design an Antarctic icebreaking vessel for the Chilean navy. Vard Marine, a consulting naval architects and marine engineering company secured the contract from ASMAR Shipbuilding & Ship Repair Company to design the four million Euro vessel, which will be constructed...
Solid tanker business sparks profit alert from CSD China Shipping Development (CSD) expects to make a USD50-63 million profit in 2015, benefiting from a strong oil transportation market and the slashing of the carrier's labour and fuel bill. The positive profit alert from China Shipping Group's tanker and bulker unit comes...
Havila talks extended while Polarcus cuts staff as offshore rout continues Two offshore services companies listed in Oslo have this morning reported measures to restructure their business as continued challenging trading conditions plague the sector. Havila Shipping, which last month had to cancel a meeting of bondholders to restructure its finances, says talks between the...
Last ditch effort to keep drifting vessel off French coast The unmanned ro-ro vessel Modern Express is set to go aground on the French Atlantic coast over the next 36 hours unless salvors can get aboard today to fix a tow line. French reports said that efforts to board the drifting, heavily listing vessel got under way shortly after...
Comment: Ultra large container ships add to freight rate woes As IHS Fairplay reported last week, percentage growth in teu capacity for the world fleet in 2016 will be only half of 2015's rate. This has been well received with in the industry, but the problem of too many ships and too few cargos is far from solved. Cascading (when...
KLC parent SM Group named preferred bidder for SPP Shipbuilding Korea Line Corporation parent Samla Midas (SM) Group has been named the preferred bidder for SPP Shipbuilding. SM, through its subsidiaries, had bid for SPP under the name of "Woobang Construction Industry Consortium". It was the only bidder. SM is due to buy the shipbuilder's sole operating yard in...
Samsung Heavy Industries sinks to loss for 2015 Samsung Heavy Industries, Korea's second biggest shipbuilder, has deteriorated into a KRW1.2 trillion (USD1 billion) loss for 2015, reversing a KRW147.3 billion profit in 2014. With zero drillship orders last year and the shipbuilder failing to capture major orders, the loss was expected. SHI, like...
HMM could sell Busan terminal and Hyundai Securities stake Embattled Hyundai Merchant Marine (HMM) is attempting to sell its stake in its terminal in Busan New Port and is making another attempt to sell its stake in Hyundai Securities. In filings to the Korea Exchange on 1 February 2016, HMM said, "We are considering several...
Shipments to Queensland Nickel continue as it goes into administration At least one shipping company - Japan's Daiichi Chuo Kisen Kaisha - is among the 1,500 creditors owed a total of AUD100 million (USD70.7 million) by Australian refinery Queensland Nickel (QNI), now in administration. QNI went into voluntary administration on 17 January. John Park, from administrators FTI Consulting, told the media...
'K' Line receives next generation vehicle carriers Tokyo-based 'K' Line has commissioned the first two vessels in a 10-ship programme of exceptionally wide pure car/truck carriers (PCTCs). Rated with a car-equivalent unit (CEU) capacity of 7,500, but offering extensive capability for heavy, high and awkward-sized ro-ro cargo, the design hosts...
Australia's Pilbara ports reopen as cyclone passes Australia's Port Hedland and Dampier iron ore ports reopened on 31 January as Tropical Cyclone Stan moved inland. The cyclone failed to reach a category 3, sparing ships, mines, and ports from serious disruptions. It has since been downgraded by the Bureau of Meteorology to a tropical low. Pilbara Port Authority announced...
Distressed asset sales expected in near term, says offshore analyst Offshore companies may have to sell their assets to stay afloat if Brent crude prices continue to dip, according to Hassan Assad Basma, CEO of Singapore-headquartered offshore solution provider HBA Offshore. Basma, speaking at the recent Singapore Offshore...
Indonesia to issue new tender to replace scrapped Cilamaya port project Indonesia is soon to issue a new tender for a deepsea port project to replace the cancelled Cilamaya port project. According to the Transport Ministry's director-general for sea transportation Bobby Mamahit, the tender was scheduled for release either at end of January or February 2016, pending the approval of Indonesia's transport...
China VLCC charters ship to Shell for USD39.7 million Shanghai-listed China VLCC has chartered out a very large crude carrier (VLCC) to oil major Shell for three years at a contract value of CNY262 million (USD39.7 million). China VLCC, a joint-venture company between China Merchants Energy Shipping (CMES) and Sinotrans & CSC Group, stated that the timecharter began operations...
GT USA receives first vessel at Port Canaveral Norderoog makes maiden call of StreamLines' new Blue Stream service connecting Port Canaveral to Europe, French West Indies and Central America
Ocean Rig warns of rig contract 'breach' by Premier Oil Notice is second employment hiccup for offshore driller within a fortnight
Zim plays to its strengths Israeli line reorganises business units to focus on profitable trades
Industry welcomes new EU place of refuge guidelines Sosrep, CoS, Ecsa all add endorsements for code after Brussels green light
High stakes for CMA CGM as it prepares to buy NOL Show Us the Money: Failure to realise swiftly the benefits of the deal could seriously damage the company, but success would cement its position amongst the industry elite
Wheatstone LNG exports delayed to mid-2017 Australian and US LNG expected to soak up excess carrier tonnage over the coming years
Western Australia ports reopen after cyclone Closures last just over two days
Bolloré wins tender for East Timor terminal French firm agrees 30-year concession for new Southeast Asian port
UK takes action to help next generation of shipowners Update: Free UK Chamber of Shipping membership to encourage start-ups as Boardley calls for more investment in seafarer training
Deep Sea Supply lays up 11th PSV Brazil blocking relief buoys AHTS earnings while PSV rates fall further
Hyundai Merchant Marine to sell stakes in terminal and stock brokerage Creditors to discuss HMM's revised plan to raise funds
Rickmers reaffirms outlook for 2015 German shipowner says revenues and ebitda will remain unaffected by 'challenging market conditions'
Handysize rates below breakeven amid dull trading Layup activities expected with rates at historic lows
Western Bulk sells chartering unit Company's future at risk amid challenging dry bulk market
Modern Express under tow Operations delayed for past two days due to high winds and sea state
Steamship Mutual grows tonnage as cost of claims rise Tonnage rises by 3.2m tonnes during policy year
Managers' exits bring Polarcus staff reduction to over a quarter Job cuts follow recent debt restructuring
Port of Gothenburg 2015 freight volumes show 3% rise Port segments report mixed performance
China newbuilding prices: bad, but with worse to come Widening gap between resale prices and newbuilding values a key factor
Pan Ocean net income drops amid dry bulk slump But revenue rises 3.4% from year-ago period
NS United net profits halved Company revises forecast for current fiscal year amid dire dry bulk market conditions
Agritrade Resources unit secures long term time charters Contracts to generate monthly revenue of about $1m for group
Carriers' on-time performance hits record high in fourth quarter Maersk Line emerges most reliable carrier in 2015
Gunvor completes acquisition of Rotterdam refinery Says it will have synergies with its Antwerp facility and complement global trading activities.
ANALYSIS: China's apparent oil demand posts fastest growth since 2011 COA expects China's demand for fuel oil to fall by double digits in 2016
Russian ports crude loading on track in Jan despite storms: Transneft Loading halts arose from storms in the Black Sea and on the Pacific Coast.
Shipping companies cut surcharges on lower bunker prices Reduction on intra-regional sea routes charges may extend.
India's Andhra Pradesh state cuts VAT to boost bunkering activities VAT falls to 0.5% from 14.5% effective Feb 1.
Shippers cut surcharges on lower bunker prices Reduction on intra-regional sea routes charges may extend.
US DATA: EIA says November residual fuel oil exports to Panama drop 15% on year November residual fuel oil exports to Panama up 25% on month.
Incentives needed for alternative bunker fuels as oil prices fall: Stena Incentives crucial to help companies to pursue more environmental-friendly options.
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