CMA CGM profits dip 3% in 2015 French container line operator CMA CGM saw consolidated net profits dip nearly 3% year on year to USD567 million in 2015 as the group was hit by the industry-wide slump in freight rates. CMA...
Belgium ratifies Ballast Water Convention Belgium today became the 49th country to ratify the Ballast Water Management Convention, bringing the treaty one step closer to entering into force in 2017. In order for the treaty to take effect, 30 states, representing 35% of world merchant shipping tonnage, must ratify it. With...
Brittany Ferries reports 'significantly positive' 2015 Leading French ferry operator Brittany Ferries registered "significantly positive" results in its latest financial year after strong growth in freight and passenger revenues. Revenues rose by 12% to EUR476.7 million (USD524.4 million) in the financial year ended 31 October but the company...
DEME tests laser cladding to boost cutter teeth Belgian dredging major DEME has signed a three-year co-operation agreement with Flanders-based research and technology organisation VITO's spin-off laser cladding venture (LCV) to explore laser cladding technology to strengthen cutterhead teeth used by heavy-duty cutter suction dredgers (CSDs). The deal follows a successful pilot project...
What maritime Millennials need to know Human resource managers have long been worried about how to keep their best people. Engineering businesses seem to have no idea how to attract school leavers to their discipline. Shipping companies are fed up when they watch talented high-achievers walk away for just a few dollars more. Understanding why the...
Boskalis to take over VolkerWessels offshore and marine businesses Dutch dredging and marine services group Boskalis has signed a letter of intent to acquire the offshore and marine energy activities of Dutch construction group VolkerWessels. The transaction, which Boskalis hopes to be complete during the second quarter, involves the takeover of three VolkerWessels companies. Boskalis...
Epic Gas seals time-charter with Shell Singapore-based pressurised gas carrier owner Epic Gas has secured a time-charter with Royal Dutch Shell for a newly built vessel. Market sources told IHS Fairplay that the 7,500m3 Epic Borinquen, which was delivered to Epic Gas on 29 February from Sasaki Shipbuilding in Japan, is due to commence...
Shipbuilder DSME suffers USD4.2 billion loss South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering has posted a record loss of KRW5.1 trillion (USD4.2 billion) for 2015, reversing a KRW33 billion profit for 2014. The massive loss was widely expected after the shipbuilder admitted in July 2015 to concealing KRW3 trillion in losses from offshore plants and is restructuring...
China Navigation fined USD129,500 for air pollution breach in Californian waters Singapore-based ship manager, China Navigation was fined USD129,500 after failing to comply with California Air Resources Board (CARB) in switching to low sulphur fuel bunker when entering coastal waters. According to CARB, Chenan, a...
Adani Bunkering eyes Singapore bunker market Fresh from exiting a joint venture, the renamed Adani Bunkering has set its sights on Singapore, the world's biggest bunkering port by sales volumes. Formerly known as Chemoil-Adani, the company was set up in 2008 as a...
Colombo Dockyard renegotiates newbuilding orders Sri Lanka's Colombo Dockyard says it is renegotiating newbuilding orders with customers hit by the sharp drop in oil prices. The yard's orderbook consists of several multipurpose platform supply vessels (MPSVs) and anchor-handling tug supply (AHTS) vessels. The yard, which books profits on vessel delivery, said in...
Hyundai survival may depend on Hanjin merger, analyst says Hyundai Merchant Marine and Hanjin Shipping would stand a better chance of surviving their crushing debts if the carriers were merged, something that maritime consultancy Drewry believes is now a distinct possibility.The London-based analyst said in its Container...
Melbourne port privatisation set to go ahead The privatisation of Australia's biggest container terminal, the Port of Melbourne, is finally expected to go ahead in the coming days following news that a political impasse blocking the long-term lease has been broken. An announcement is expected to be made in the Victorian state parliament on...
Rising consumption and exports to drive Djibouti throughput growth Djibouti Ports & Free Zones Authority (DPFZA) expects throughput at Doraleh Container Terminal (DCT) to expand by 3% in 2016 to just over 861,000 teus, driven primarily by expanding domestic consumption in Ethiopia and Djibouti. The government body that oversees the development and promotion of port operations and...
Solid 2015 result shows G6 alliance works for OOCL, says CFO Tung Hong Kong-listed OOCL is committed to remaining with the G6 Alliance, said chief financial officer Alan Tung, but "everyone is talking to everyone" as two huge M&A deals threaten to redraw the alliance structures by the end of the year. "Are industry leaders talking to each other? Of course...
VLCC spot rate soars $10,000 in one trading day This is the kind of volatility owners are looking for this year, hoping for spikes to bolster bottom lines
Mixed fortunes for east-west box volumes in January Transpacific traffic on the up as Asia-Europe volumes continue to disappoint
Strong volumes underpin CMA CGM results as freight rates slide
Belgium nudges Ballast Water Management Convention closer to ratification Fourth nation signs up to Hong Kong Convention
MCA promotes Katy Ware to safety director Senior civil servant retains IMO role
The final countdown Container weighing is coming, like it or not, and the US needs to get on board. Now
Wärtsilä in reputation battle following revelation of falsified fuel data Finnish engine maker says it is acting swiftly following news that staff falsified fuel consumption results ahead of engine deliveries to shipowners
Clarksons turns a profit but remains concerned about challenges Offshore and dry bulk continue to exert downward pressure, while tankers are buoyant
Ueda steps down at ClassNK Chairman's eight-year reign comes to an end in class society's management shuffle
North Korean ship held in Philippines as China bans port calls Further restrictions from Seoul expected tomorrow, as UN sanctions bite
Product tankers to deliver gasoline cargoes to Iran Early movers take advantage of risk premiums
ICBC Leasing to order 10 new valemaxes Newbuildings will be backed by a 25-year contract of affreightment with Vale
Malaysia's Petronas vies for world's first FLNG vessel deployment Petronas in stiff competition with a handful of other projects and is ahead by just a few quarters
Gard will not seek out P&I merger, Roppestad confirms But world's biggest club will consider approaches on merit, says chief executive
Qatargas makes first Q-Flex delivery to Pakistan under new deal Nakilat's 106,898 dwt Al Gattara carries cargo from Ras Laffan to Pakistan's Port Qasim
Peel Ports picks Richard Goffin as Great Yarmouth port director Appointment marks the start of an exciting period of growth at Great Yarmouth, says Peel Ports chief Mark Whitworth
Port of Tilbury to see major expansion project Operator Forth Ports looking to invest $142m to develop infrastructure and facilities
Port of Rotterdam inks international commodity pact with European authorities Move to help overcome barriers to residual and raw materials trade in Europe
APL pioneers premium-priced product on transpacific box trades Forthcoming annual contract negotiations will show if shippers are prepared to pay extra for an expedited service
Statoil to terminate rig contract with China Oilfield Services unit Oil major suspends one contract and terminates another, but says decision will not have impact on long term production at Troll field
Oakland fights back after Outer Harbor shock Executive director Chris Lytle hopes arrival of ULCs on Pacific could be opportunity to attract cargo from southern Californian ports
Industry divided as European Ports Directive gets third vote in parliament UK ports call for private port exemption from proposed EU rules
The big conversation Shipping's top diplomat insists that political consensus in shipping is only a conversation away. He may well be right
The last breath Deaths in enclosed spaces take a remorseless toll of human life in the shipping industry, so why isn't more being done to stop them?
Oceanex sues over rival's Ottawa support Canadian shipowner files federal legal action against compatriot outfit's subsidies.
Eagle in fast lane as shipping rally rolls on Bulker owner's shares more than double on another day of skyrocketing shipping stocks.
Paragon boosts offering in bond effort Price of troubled bulker owner's Nasdaq-listed notes surge 24% after investors offered more to hand over senior notes.
Korea's mid-sized yards struggling Outside the big three, orderbooks are down to less than a year in deathly quiet market.
Vafias family buys bargain capesize Greek shipowner's deal said to be the lowest paid for such a ship since the early 1990s.
Ueda steps down at Class NK Japanese classification society replacing president with deputy Fujiwara.
Philippines yards cry out for tax breaks Politician Jesulito Manalo said domestic shipbuilders need incentives just like overseas rivals.
Judge refuses pre-trial win against Norfield Scandinavian Bunkering's claims against Vestland affiliate in Texas litigation not strong enough for judgment now.
SeaBird adds purchase option to contract Seismic vessel owner extends the leasing period for one of its vessels and includes acquisition clause.
Eagle Bulk wins two more days for talks Bulker owner continues to extend forbearance agreement with lenders.
DNB takes brighter view on Golden Ocean Norwegian finance house upgrades owner as China's new five-year plan shows new initiative.
Clive Palmer sells ultramax fleet Australian politician and mining tycoon's parliamentary register reveals disposal of four shipping companies owning ultramaxes.
Two crew die in tanker blast Indian nationals killed in boiler explosion on Panama-flagged ship off Oman.
MMS Maritime boosts tanker crew numbers Indian shipmanager sees 25% increase in seafarer roster in 2015; 90 crew still needed.
Thenamaris sells first tanker in five years Greek owner said to have offloaded a products tanker marketed for several months.
Five dead in Rafelia 2 sinking; master missing Indonesia halts search for missing captain after ferry capsized on Friday.
Boskalis bolsters offshore wind presence Dutch company acquires 100% of its compatriot joint venture partner VolkerWessels.
Irish Continental proposes bigger dividend Ro-pax and containership owner maintains optimistic outlook for 2016 after strong operational result last year.
Is 2016 set to be top of the demo charts? Clarksons' figures suggest new record could be in store for bulker scrapping.
Shipbuilder DSME books $4.3bn loss Korean yard looks to gas after offshore slump stains 2015 balance sheet.
Wartsila finds fuel test "deviations" Finnish ship power group blames rogue workers in Italy for influencing engine results.
Wisdom makes move into LPG shipping Taiwanese bulker owner diversifies into gas with vessel order at Murakami Hide in Japan.
Clarksons pushes up 2015 profit UK shipbroker also sees revenue rise as it finds ways to increase market share in the shipping slump.
Wisdom Marine makes move into LPG shipping Taiwanese bulker owner diversifies into gas with vessel order at Murakami Hide in Japan.
Aussie navy stops arms shipment reaching Somalia Close to 2,000 AK-47s destined for former piracy hot spot recovered from fishing boat off coast of Oman.
OOIL profit edges up, but it remains uncertain over 2016 Year started well for Hong Kong owner, but supply and demand imbalance eventually took its toll.
Statoil opts to chop two more COSL rig charters Norwegian energy giant has cut short three contracts with Chinese operator in nine months.
Injured master airlifted from Almi tanker US Coast Guard called to the rescue after leg injury.
European ferry operator DFDS' fuel use at all-time low in 2015 Company also installed scrubbers on another six vessels
Wartsila audit reveals 'deviations' in fuel consumption tests Says 'a limited number of personnel' at Italian test center were responsible.
GAINN Project to support development of LNG bunkers in EU Partners from six EU countries participating in bid to identify both supply and ship solutions.
Singapore 380 CST HSFO cash differential flips to premium on tight April supply Supply from the West to East, including China and North Asia, is expected at around 2 million-4.3 million mt in April.
TANKERS: Worldscale rates rise at Vietnamese offshore terminals Higher rates due to introduction of navigation dues at terminals.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
