Tilbury USD142 million expansion following land acquisition Forth Ports, owner of the UK River Thames port of Tilbury, has entered into an agreement to buy an adjacent 61.5 ha of land, including a further deepwater jetty, and plans to spend GBP100 million (USD142 million) to develop it. The land purchased...
EU ports regulation not good news for the shipping market, say owners and ports A controversial ports regulation has been adopted by the European Union, which shipowners and UK ports say will undermine the performance of ports in Europe. The EU Port Services Regulation, a proposal twice before rejected by...
Bumi Armada to pursue legal proceedings against contract termination Malaysia-listed offshore player Bumi Armada may resort to legal proceedings against an "unlawful" termination of contract by the Australia-based Woodside Energy Julimar (Woodside). "The company intends to fully enforce its rights under the contract, including initiating legal proceedings against Woodside for its unlawful purported termination of the contract." said Bumi Armada...
COSL's two drilling contracts suspended in Norway Statoil has terminated one drilling contract with Shanghai-listed China Oilfield Services Limited (COSL) and suspended another. Its subsidiary COSL Drilling Europe (CDE) was notified by Statoil that the conditions for terminating the drilling contract numbered 2001150 have been met, and the contract numbered 2001151 will be suspended since...
V.Group buys up Bibby Ship Management Top ship manager V. Group has reinforced its market leadership by taking control of Bibby Line Group company Bibby Ship Management in an operation which it says is aimed mainly at strengthening its position in the offshore sector. The two groups have declined...
Boskalis awarded gas pipeline trenching and backfilling contract in Abu Dhabi Papendrecht, 8 March 2016: Royal Boskalis Westminster N.V. (Boskalis) has been awarded a contract from the National Petroleum Construction Company of Abu Dhabi, UAE for dredging work related to the installation of an offshore gas pipeline of the Abu Dhabi National Oil Company as well as to an existing offshore...
Iran a possible panacea for South Korea's yards Beleagured South Korean shipbuilders could look to Iran to fill their orderbooks following the lifting of sanctions, analysts have suggested to IHS Fairplay. Despite posting a record KRW5.15 trillion (USD4.2 billion) loss for 2015 on Monday, Daewoo Shipbuilding & Marine...
HHIC wins Busan New Port project South Korean shipbuilder and construction firm Hanjin Heavy Industries & Construction has been awarded a KRW88.5 billion (USD73.4 million) contract by the Busan Port Authority to develop the hinterland of Busan New Port's South Container Terminal. The contract will provide much needed business for HHIC,...
Korea EXIM grants shipping companies reprieve on loan-to-value breaches As the asset values of many ship types have been depreciating quickly, the Export-Import Bank of Korea has granted a one-year grace period to the country's shipping companies, giving them relief from loan-to-value (LTV) covenant breaches. The depressed Baltic Dry Index has hit...
ICTSI books decline in net income and revenue for 2015 International Container Terminal Services (ICTSI) saw net income and revenue fall during 2015 despite a 5% rise in throughput at its global terminal operations. The Manila-based company booked net income of USD58.5 million, a decline of 68% on 2014, while revenue feel by 1% to USD1.051...
Fortescue announces joint venture with rival Vale In a surprise move, Australian iron ore producer Fortescue on Tuesday announced it had struck a deal with former rival Vale of Brazil. A non-binding memorandum of understanding will allow Vale to buy between 5% and 15% of...
Chinese ship recyclers post lost of over USD77 million in 2015 China's ship recycling sector posted a loss of over CNY500 million in 2015, CNY200 million more than 2014, according to data released by China National Shiprecycling Association (CNSA). The sector recorded a revenue of CNY3.4 billion (USD524 million) in 2015, a decrease of 13% from CNY3.9 billion...
Two missing after tug, tanker collision off Indonesia Two of the four crew from a tug that sank off Pulau Rupat, Indonesia, are still missing after it collided with an ltaly-flagged oil tanker, Mare Tirrenum. The incident occurred on 7 March 2016 at 0030 h local time while Mare Tirrenum was underway from Singapore to Dumai,...
Oman and Iran to develop all-water and trade links as major ports sign MoU Oman's Port of Salalah signed a memorandum of understanding (MoU) with the Port and Maritime Authority (PMO) of Iran to cooperate with two Iranian ports. Under the agreement an all-water route between Salalah, which is 30% owned by APM Terminals, Shahid Rajaee Port at Bandar Abbas, and the southeastern Iranian port...
Historic debut of US ethane export trade is near The first-ever seaborne cargo of US ethane should soon be loaded for export at the Marcus Hook terminal near Philadelphia, Pennsylvania, marking the emergence of an entirely new oceangoing trade. The first four of Evergas' eight 27,500 cubic metre (cbm) LNG/ethane carrier newbuilds have...
Largest US environmental dredge project finalised US regulators have signed off on a scheme to remove contaminated sediment from a polluted river in New Jersey in what would be the largest American environmental dredging project to date. According to a final plan released by the US Environmental Protection Agency (EPA) on 4...
Boskalis, DEME and Van Oord among preferred bidders for Fehmarnbelt link The EUR6 billion (USD6.6 billion) Fehmarnbelt Fixed Link project has named consortia involving European dredging giants Boskalis, DEME, and Van Oord as preferred bidders for the four major construction contracts - with the aim of entering conditional contracts no later than...
Port Services Regulation passes EU Parliament Industry poised to continue lobbying efforts as text moves closer to adoption
Vafias grabs eight-year-old cape for $10.8m C Winner goes to Greek owner after repossession by KDB Capital
Transocean delays five rigs at Keppel Delivery of jack-up units pushed back by four years
Supramax trajectory is firmly up, with rates around six-week highs Emerging appearance of prompt tightness and grains exports support owners' sentiment
Attica celebrates 'new era' with $33m profit Best result for years came despite ongoing challenges
Backing the Union Lloyd's List talked to Alderman Jeffrey Mountevans, the 688th Lord Mayor of London, at his Mansion House offices, about the perils of a Brexit, the risk of competition from global maritime centres, and training maritime professionals of the future
Wave of new legislation to crash down on chemtankers Regulation covering cargoes will create extra administrative and cost burdens for shipowners and operators
O Shipping IPO where art thou? Total returns of shipping IPOs have lagged the broader stock market due to declining oil prices
Two Lanhai Shipping panamax bulkers up for sale Bid will start on March 24 at a combined floor price of $13.5m
Top ILWU official joins protests over USCG stance on box weighing Local 13 president Bobby Olvera calls for accurate container certifications as some shipper groups resist new IMO rules
ICTSI reports 68% decline in net profits Disappointing profit result comes despite 5% climb in global volumes
NYK, MTI and JMU to carry out big data research on 14,000 teu boxships Data collected will be stored at a centre established by ClassNK
Further changes to EU Port Services Regulation ahead Opponents fear regulatory creep if legislation passes EU parliament
Chevron expects first cargo from Australia's Gorgon LNG project next week Chevron is the operator of Australia's Gorgon LNG project, with a 47.3% stake
India's VO Chidambaranar Port breaks container throughput record Port handled about 5.61m teu of container volumes as of March 6 this year
Diana Shipping unit clinches time charter contract with RWE Present charter rate lower than previous $8,250 per day rate paid by Clearlake Shipping
Port of Salalah inks pact with Iranian port authorities Agreement will help grow shipping, trade and business opportunities
Grim sign for peers as Diana downgraded Deutsche Bank analyst cuts bulker owner as worse-than-anticipated cash flow may require lender talks.
Exmar ends deal with partner on FLNG project Caribbean LNG plan officially ends as Exmar looks to place vessel elsewhere.
Six arrested over fraud allegations at ARS Authorities suspect shipyard officials and former provincial authorities of creating phantom positions at Argentine shipyard.
Sobelmar seeks OK to file Belgian bankruptcy Already under Chapter 11 protection in Connecticut, bulker owner says it must file in Belgium.
Marine Atlantic to fight legal challenge Government-controlled ropax owner defends subsidy that maintains public service operation.
Aframax rates recover as Ceyhan clears Brokers cite more limited supply at Turkish port as helping route recover from lows.
India 'facing offshore crew shortage' Seafarer union asks for government help to combat lack of workers for oil exploration.
DIS plans to boost coverage during 2016 Marco Fiori says owner plans to reduce spot exposure steadily.
Oldendorff sells Eships tanker and LPGC fleet Expanding Dubai shipowner Tristar boosts chemical and gas operations with $90m deal for seven ships.
Bibby: Need for scale drove sale to V.Group Sir Michael Bibby explains when Bibby Ship Management was sold.
SM eyes partial SPP yard takeover South Korean group is sole bidder for shipbuilder, but may not want all its sites.
Boskalis seals new 50km dredging contract Dutch owner deploying variety of ships in Abu Dhabi for gas pipeline work.
Torm looks to UK on path to US listing Danish owner plans to register a company in Britain to help it with New York dual-listing.
Clarksons Platou cuts OSV trio to sell Analyst Turner Holm downgrades GulfMark, Tidewater and Hornbeck after price recovery this month.
CMV adds P&O cruiseship to fleet UK-based operator bringing in Australian veteran as its new flagship from 2017.
SK Shipping denies tax evasion Korean owner says probe by authorities appears to be part of regular audit.
V.Group in Bibby Ship Management swoop Market leader grows its footprint with acquisition of British rival.
Rem Offshore lays up another PSV Norwegian owner stacks fifth supply ship in Fosnavag after finishing charter.
V.Ships in Bibby Ship Management swoop Market leader grows its footprint with acquisition of British rival.
Gulf Navigation restructures board Middle East tanker owner appoints seven directors and independent chairman after shake-up in January.
Brussels pledges demo guidelines as Belgium signs HK rules European Commission to publish details for yard applications to European rules, while Belgium becomes the fourth nation to sign Hong Kong convention.
Torm eyes growth after strong annual profit Products tanker giant sees bottom line boosted by best spot market since 2008.
Bigger is better for Seaspan US-listed boxship owner pushes up revenue and profit in Q4 as fleet grows.
Final bids in for $1.4bn ferry contract Scottish government has to decide between Calmac and Serco for eight-year deal.
Rafelia 2 operator's licence revoked Indonesia bars Darma Bahari Utama from running ferry services after fatal sinking.
Car carrier refloated off Colombian port Ray-controlled PCTC Platinum Ray runs aground but problem solved within hours.
CMA CGM profit dips amid difficult trading conditions Jacques Saade-led containership operator expects market-beating cargo volumes again in 2016.
CMA CGM nears 5% threshold in Neptune Orient Lines French liner giant steps up stock purchases with recent purchase of a block of 700,000 shares.
US Gulf Coast bunker fuel prices highest in months US Gulf Coast prices rise as Brent crude reaches highest level since Dec 4, 2015.
Oil trading higher on Chinese growth target, US rig count A Bollinger Band analysis revealed both NYMEX crude and ICE Brent hovering Monday above their upper limits.
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