LNG bunkering leaks may offset anti-pollution benefits New research has revealed that methane leaks occurring during LNG bunkering operations can not only chip away at the benefits of cleaner burning LNG but could also increase fuel costs for shipowners. A study released by the US Maritime Administration...
Van Oord buys TSHD Contender from Abeko To expand its fleet of small trailing suction hopper dredgers (TSHD), Dutch dredging giant Van Oord has bought the 2,680 m3 Contender from Netherlands-based Abeko Marine. The vessel is 88 m long, 16 m wide, has a dredging depth of 25 m,...
Allianz Global Corporate & Specialty (AGCS) appoints new Regional Unit London Head of Marine London, 1 March 2016 - Allianz Global Corporate & Specialty (AGCS) has appointed Andrew Whitehouse as Regional Unit London (RUL) Head of Marine. He will report to Brian Kirwan, AGCS Chief Executive Officer UK, and Paul O'Neill, Global Head of Marine and Energy, starting on 1st March 2016. Andrew has been...
Troubled Havila Shipping books huge impairment charge Havila Shipping, which has attempted to restructure its finances since the start of the year, has reported deep losses for both the final quarter and full year 2015 after an enormous impairment charge it booked in its fourth quarter 2015 (4Q15) figures. The company said it had halted to payments of...
ICHCA and FEPORT join forces at global and European level to raise the profile of the cargo handling industry ICHCA International, the global cargo handling NGO association, has agreed to work with the Federation of European Private Port Operators (FEPORT) on matters of mutual interest. The two associations signed a formal Memorandum of Understanding on Mar 1 2016 at the ICHCA International 2016 Conference on "Bigger Ships,...
Seaman Guard Ohio guard families in 'shock' as bail is denied Bail has been denied to the six British maritime guards from floating armoury Seaman Guard Ohio, who are currently in prison in India on arms charges. The rejection of the bail plea by the Madras High Court came as a "total shock" to the families and their...
Most Singapore shipbuilders in red for 2015 Singapore-listed shipbuilding companies ended 29 February mostly in the red with under-par financial performances for full year 2015 over the previous year. Most companies' financial results were hampered by poor macro-economic factors prompting them to declare losses in the fourth quarter 2015 (4Q15), which either led them to post reduced profit...
Sewol salvage moves forward The salvage of the capsized ferry Sewol continues, with appointed salvor Shanghai Salvage planning to fence in the vessel to prevent debris and oil from flowing into the Maenggol Channel as it prepares to lift the hull. Shanghai Salvage, which is the main company handling the salvage, has deployed its diving...
Union, registry warn against delaying STCW training updates The Liberian Registry has said it is concerned that there will be a significant backlog of seafarer certificates needing endorsement come the 1 January 2017 deadline to meet the latest Standards of Training, Certification, and Watchkeeping (STCW) Convention amendments. Liberia, the second largest ship registry in the world, has over...
South Korea mulls freight derivatives exchange In the wake of a highly publicised liquidity crisis affecting its shipping companies, South Korea is considering establishing a shipping exchange to facilitate the trading of freight derivatives. During the recent 8th Shipping Forum held in Seoul's Yeouido financial district, the Ministry of Oceans and Fisheries (MOF) floated this idea to...
Frontline figures point to tanker market health Frontline figures published on 29 February reflect the health of the tanker market. The fourth quarter of 2015 returned better than expected profit for Frontline and many other tanker operators have been enjoying the same economic high. Frontline have quoted their daily breakeven point for time charter equivalent (TCE) rate to...
Bulker, offshore woes weigh on Yangzijiang shipbuilding Singapore-listed Chinese shipbuilder Yangzijiang is expected to face headwinds due to the poor market for the vessels it builds, namely dry bulk carriers and rigs. This was the opinion of analysts who issued reports after the shipbuilder unveiled its 2015 results on 29 February 2016. The shipbuilder, led by...
Commentary: Frontline figures point to tanker market health Frontline figures published on 29 February reflect the health of the tanker market. The fourth quarter of 2015 returned better than expected profit for Frontline and many other tanker operators have been enjoying the same economic high. Frontline have quoted their daily breakeven point for time charter equivalent (TCE) rate to...
DEME and Siemens win huge EPCI contract for Hohe See offshore wind farm Belgium-based DEME Group's offshore marine engineering division GeoSea and German giant Siemens have won a engineering, procurement, construction, and installation contract for turbines and 71 foundations, each consisting of a monopole and transition piece, for the...
Container ship recovers 13 survivors off Vanuatu Thirteen seafarers have been rescued from a cargo ship, LC Mahalia, which sank off the Pacific island nation of Vanuatu on 29 February. The crew were picked up by container ship Forum Pacific, which had been at anchor in Port Vila, the capital. The 2008-bulit vessel was...
More concentrated port calls could leave shippers with fewer options in China Increasing deployment of mega-vessels to China ports, together with consolidation of services, may leave shippers with less choice for their China-related transportation needs, delegates learned at TPM Asia 2016. The increase in vessel size with higher carrying capacity per service is resulting in carriers reducing the number of East-West strings. At...
Suez container, bulk traffic decline continues in January; tanker, ro-ro business expands Container and bulk ships transiting the Suez Canal fell in both number and tonnage terms in January, continuing a trend of declining traffic that gained momentum in the second half of last year. The number of container ships transiting the canal fell 9% in January, from 513 to 467, compared with...
Glencore expects lower coal and metals output in 2016 amid net loss Trader also anticipates a further cut in spending this year, but says freight marketing performed well last year
Panalpina rules out major acquisitions as new IT platform takes priority But boss believes forwarding and logistics consolidation will 'progress much faster than most anticipated'
Rotterdam revenues rise in 2015 Port dues and leasing income on the up, but profits fall 1.7% after debt settlement
GSF calls for new forum to address ultra large containerships Supply chain needs to come together if it is to avoid bearing the costs associated with ULCs
Golden Union freight affiliate wins Lufthansa partnership Golden Cargo and German carrier have long co-operation
Farstad expects further cuts ahead as it sells PSV and cuts office staff Announcements come alongside significant 2015 loss driven by dire PSV performance
ILWU and PMA breakthrough on next US west coast longshore contract Employers and labour signal willingness to extend existing contract beyond 2019 in move to restore shipper confidence and protect cargo base
Deeper capacity cuts 'a must' to trigger rate reversal East-west carriers need to intensify cascading, void sailings and lay-ups this year to avoid a repeat of 2015's rates blood-bath, say Drewry
Container shipping faces an increasingly difficult year ahead, warns AlixPartners Persistent global supply/demand imbalance to blame, but more industry consolidation should help
Scorpio Tankers delivers strong seasonally adjusted results for fourth quarter of 2015 Recent sale of five modern product carriers bolsters balance sheet flexibility
MayBulk posts its first ever annual loss amid vessel impairments Company expects yet another challenging year for dry bulk shipping
Star Bulk trims orderbook amid steep losses in the fourth quarter Delay in $188m instalment payments for five newbuilding vessels to extend cash runway
Bumi Armada swings to net loss in 2015 on non-cash and impairment charges Company cut selling and distribution costs and administrative expenses in the year
Bahri to buy VLCC from Hanjin Shipping The 318,000 dwt Hanjin Ras Tanura will be delivered to Bahri in March
VLCC spot earnings fall to six-month low Owners, though, remain bullish on prospects
BIMCO adds clause on 'Sale of Goods Act' in bunker purchase contract Hopes UK Supreme Court 'will soon provide much needed clarity' in OW Bunker case.
Istanbul: Bunkering resumes, annual bunker sales up Annual sales pass 2 million mt mark.
CORRECTION: S Arabian Jeddah's bunker fuel supplier pool shrinks, availability tightens Only three currently active as players halt operations due to poor market conditions.
Med-North 1% fuel oil spreads drops to 18-month low on freight rates Supply glut may mean the restart of sales into the high sulfur pool.
Oil complex rises as China announces stimulus measures The People's Bank of China announced that the required reserve ratio for Chinese banks would be cut by 0.5 percentage points.
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