Comment:Anti-south fears raised on EU ship recycling regulation Fears that Europe could control the global recycling industry and destroy South Asia's recycling industry were voiced at a recycling seminar in London, UK, this week. Heated discussions erupted on 3 February during the final part of a seminar on sustainable shipbreaking, hosted by the International Maritime...
US urges container sector to work out weight verification issues A policy letter soon to be published by the US Coast Guard (USCG) on an amendment to SOLAS container weight verification rules will contain "very little" not already covered in the IMO convention, according to the Coast Guard's top safety official. Rear Admiral Paul Thomas,...
Salvors bide time on ULCS refloating attempt The 19,100 teu container vessel CSCL Indian Ocean is going to remain grounded on the river Elbe close to Hamburg for at least a few more days while ship traffic in and out of Hamburg continues as normal. The German Central Command for Maritime Emergencies...
Panama Canal new locks sill reinforcements complete The Panama Canal Authority (ACP) today confirmed that repairs and reinforcements for sills in the new locks have been completed and that filling of both the Pacific-facing Cocoli locks and Atlantic-facing Agua Clara locks is under way. It puts the canal expansion programme at just...
Flushing port further boosts its banana volumes The port of Flushing in the Netherlands is expanding its footprint in the perishables reefer trade with the extension of a contract with Chiquita. Chiquita ship operator Great White Fleet will next week drop its Central America-North Europe liner trade's...
Tonnage providers watching MOL's restructuring Mitsui OSK Lines' (MOL's) decision to scale down its spot exposure to the dry bulk shipping market has caused concern among shipowners and ship operators, as nearly 100 bulkers could be redelivered prematurely to their owners. IHS Maritime's Sea-web data show that MOL operates 143 bulkers, of which 57 are...
Mega logistics complex to be built in Busan New Port A mega logistics complex is to be built to support South Korea's Busan New Port. The country's Ministry of Oceans and Fisheries has announced that construction of the 1.44 sq km complex began at the end of January and should conclude by July 2021,...
HMM suspends stock trading as capital is impaired Hyundai Merchant Marine has suspended the trading of its shares in South Korea amid growing talk of receivership as it posted another full-year loss today (5 February). The country's second-biggest shipping company registered a KRW443.4 billion (USD377 million) loss for 2015, a shortfall hardly changed from...
Armed police evict Australian crew Armed police stormed CSL Melbourne in the Port of Newcastle, Australia, on 5 February, and removed five Australian seafarers protesting in a six-day sit-in the loss of their jobs to foreign crew. About 30 police reportedly boarded the bulk carrier at its Kooragang berth at 0835 local time on Friday. After...
Bourbon Offshore increases number of laid up OSVs OSV owner Bourbon Offshore has released its annual and fourth quarter revenues for 2015, declaring it had a total of 44 supply vessels stacked at the end of the year. This is an additional 13 since its Q3 2015 results in early November. Bourbon stated: "Bourbon's proactive cost reduction campaign remains...
MMEA to deter maritime crimes with onboard armed officers The Malaysian Maritime Enforcement Agency (MMEA) aims to deter fuel siphoning by putting armed officers on some small tankers, the ships typically targeted in such attacks. MMEA director general Admiral Ahmad Puzi Ab Kahar told local media that the placement of armed officers onboard will be reviewed on a case-by-case basis...
ASL Marine profit up 35.7% Singapore-listed shipbuilder ASL Marine posted a net profit of SGD1.9 million (USD1.3 million), up 35.7% year-on-year for the second quarter of 2016 on the back of higher revenue contribution from its shipbuilding segment. The company's revenue was SGD99.7 million in the second quarter of...
Indonesia to retain foreign ownership limit in seaports The New Priok port will have an annual container handling capacity of 18 million teu Indonesia is expected to continue to disallow majority foreign ownership of its seaports when it releases a revised version of its list of limits on foreign participation in the economy due to be issued during the...
ICBC signs MOU with Antwerp Port Authority Industrial and Commercial Bank of China (ICBC) has signed a memorandum of understanding (MOU) with Antwerp Port Authority for partnership activities on the One Belt, One Road strategic development. The Chinese state-owned bank viewed the port of Antwerp as the "western end of the modern Silk Road", and has since opened...
In the Port of Amsterdam, rustle is the new beep The Port of Amsterdam appears to have discovered a way to eliminate one of the greatest annoyances to anyone living within earshot of terminals...
Lightering continues as CSCL Indian Ocean awaits high tide Local equipment unable to offload cargo due to stricken mega ship's size
Container traffic from Asia to Europe slides 3.7% in 2015 Official figures from CTS confirm significant drop in trade on key east-west route in trade
Capesize index moves sideways But time charter rates move up slightly on week
Laying-up in a downturn OSV lay-up numbers swell as oil hovers around $34 per barrel
Western Bulk legacy company will feel strain Company renamed Bulk Invest following split from its chartering unit
US west coast ports in race to repair damaged reputations Arrival of first 18,000 teu vessel to call in the US highlighted the need for further port and terminal investment before the 'big ship ready' claim is fully justified
Asia-Europe rates down for fifth consecutive week Supply/demand imbalance continues to add downward pressure on rates on all major east-west trades
A narrowly averted grounding History holds many warnings on the treatment of vessels in distress.
MISC 2015 results lifted by energy and shipping businesses Company expects petroleum shipping segment to reap benefits of robust tanker market ahead
Hyundai Mipo reports $21.5m full-year profit Product tanker specialist sees a fall off revenues and net income in fourth quarter
Running the gauntlet In the global hotspot of the Ukraine, some shipowners are quietly testing the legal barrier
ASL Marine results boosted by non-OSV shipbuilding business Completion of tugs and barges helped offset offshore vessel contract cancellations
Port of Antwerp enters partnership with major Chinese bank Both parties aim to explore new business related to One Belt, One Road project
Korea Line 2015 net income drops 45% year on year Dismal market conditions in dry bulk sector weighed on results
VLGC spot rate lowest in nearly two years Rate anticipated to stay around current levels for coming week
BG Group doubles LNG cargo deliveries In final report before merger, LNG shipping and marketing division delivers 88 cargoes but suffers slump in bottom line.
Iran wrinkles to be ironed out, DHT says Trygve Munthe sees hope for tanker owners hoping to get back into the Iranian trade.
Rabaul Queen officers to stand trial Three men and a woman face negligence and manslaughter charges over ferry sinking off PNG.
Boxship damaged in Kiel Canal clash Rambow Reederei vessel suffers tear after incident involving Nordana Sky in Germany.
Did dad come up trumps in Diana deal? Wall Street analysts have their say on Simeon Palios's latest purchase.
Yildirim eyes $750m Ecuador port buy Turkish group adding to terminal portfolio with move for Puerto Bolivar.
Saudi-Iran conflict concerns Gulf owners Rising tensions between the two countries increase the number of security inquiries at region's ports.
Fugro scoops Australian contract Support ship Southern Ocean to work on BHP Billiton field from May.
FSL to carry loss on disposal of boxship duo Singaporean owner scraps veteran pair after end of charters to Evergreen.
ASL Marine turns around financial performance Singapore shipbuilder puts previous year's rescission of two OSV newbuilding contracts behind it.
Logistics deals set to boost WW ASA profit Oslo-listed company reveals round of transactions worth $200m in Europe and the Americas.
Statoil takes Ocean Installer duo Norwegian contractor wins subsea work for chartered-in Solstad CSVs.
Svitzer signs new Caribbean deal Towage giant continues cooperation agreements worldwide with new pact at NuStar terminal.
Tanker freed but five crew held Nigerian hijackers release Greece's Leon Dias, but captain and others taken hostage
Daiichi Chuo closing in on rescue package Consortium of Japanese yards and owners set to take Daiichi out of bankruptcy proceedings.
Panama Canal locks reinforced New expanded waterway edges nearer to completion with resolution of water seepage problem.
CSCL mega-boxship refloat fails UPDATE: Giant vessel remains aground in the Elbe outside Hamburg as tugs labour in vain.
Shell delays FID on LNG, offshore plans Capex cuts continue as energy markets remain weak.
MISC profit dips despite strong tanker market Lack of asset disposals leaves Malaysian shipowner's Q4 results down on a year ago.
ASL Marine sees turnaround in financial performance Singapore shipbuilder puts previous year's contract rescission of two OSV newbuilding contracts behind it.
Engine breakdown to dog Beng Kuang results Singapore-listed shipowner tells investors it expects to post a loss for the fourth quarter.
Port of Antwerp agrees tie-up with China's ICBC Chinese bank to promote investment opportunities at Belgian port to Chinese investors.
Wilson Sons suffers OSV utilisation slump Brazilian owner's offshore vessel fleet sees 12.4% decline in operating days in January.
VPS and Intertanko raise concerns about draft ISO 8217 standard Say some proposed changes are unfavorable to ship operators, and cold flow parameters should have been added.
COSCO, ABS to work jointly on trans-Arctic shipping developments Voyages between core Asian, European ports could be cut by 4,000 miles.
Rotterdam sales of 'ULSFO' estimated close to million mt mark Suggests substantial share of ECA-compliant demand is met by products other than MGO.
Malaysia's Raya International raises capital to expand bunkering operations The capital is earmarked to purchase marine gasoil.
Obama pitches $10/b oil tax, to be phased in over five years Imported fuels would also be subject to the tax.
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