Fake TWIC card makers stir US port security concerns The arrest of two men for allegedly making fake ID cards used to access terminals at the Port of Los Angeles has uncovered potential security threats at America's ports. Brian Allen Dunmore was arrested on 3 February by agents with the...
Comment: Is the dirty tanker market in for another strong year? IHS Maritime & Trade believes the tanker market is in for another strong but volatile year. The expected Worldscale (W) rate drop occurred and even though Worldscale rates are reasonable, actual earnings are lower. The low...
Is the dirty tanker market in for another strong year? IHS Maritime & Trade believes the tanker market is in for another strong but volatile year. The expected Worldscale rate drop occurred and even though Worldscale rates are reasonable, actual earnings are lower. The low bunker and overall operational and capital costs should see owners remain in the positive. As...
CSCL Indian Ocean safely berthed after refloating The 19,000 teu CSCL Indian Ocean reached a berth at Hamburg's Predoehlkai this morning following its successful refloating last night by 12 tugs under favourable tidal conditions. The ultra-large vessel, which was grounded on the River Elbe some...
Renewal key to P&I clubs' ambitions, says Standard & Poor's Protection & Indemnity (P&I) clubs have been warned that the upcoming 2016/17 renewal will be a litmus test for their ability to achieve their wider aims. Speaking in London to an audience of senior management from across the international Group of P&I Clubs, Standard & Poor's insurance ratings director Mark Nicholson said that the...
Polarcus to book USD242 million impairment charge against assets Dubai-based seismic services vessel owner Polarcus Limited is to book a USD242 million non-cash impairment charge against its assets in its final quarter 2015 (1Q15) results, due on 29 February. The company started the process to look at the valuation of its assets in its books after the Financial Supervisory Authority...
Dredgers to aid rescue of CSCL Indian Ocean Several dredgers have been chartered to help refloat the grounded container ship CSCL Indian Ocean. The vessel went aground on 3 February on the river Elbe near Lühesand about 30 km from Hamburg. The re-floating operation is being carried out by Boskalis' subsidiary SMIT, in co-operation with Kotug, under the responsibility of...
Royal IHC and DEME in EU deepsea mining project Called 'Blue Nodules', the EU project will also involve 12 other European industry and research organisations apart from Netherlands-based shipbuilder and offshore innovator Royal IHC and Belgian dredging and offshore giant DEME in a consortium aimed at sustainable harvesting of polymetallic nodules from the...
German bulker insolvencies piling up Insolvency filings for bulk carriers under German ownership and management have surged over the last week, as court documents show. Hamburg-based shipowner Reederei Oskar Wehr had insolvency proceedings opened against its ship asset holding Wehr Bulkcarriers and eight one-ship companies. In total 12 of...
'Lost decade' for public shipping sector Despite all of the deals, financial engineering, hope and hoopla, the US-listed shipping sector has actually shrunk in value over the past decade, according to a new data analysis by IHS Fairplay. At the close of trading on 8 February - yet another day...
US foresees potential "black box" changes in wake of El Faro Stricter standards governing the use of voyage data recorders on commercial vessels may be necessary based on what's so far known in the investigation into the sinking of the El Faro, according to the US Coast Guard. The TOTE Maritime-operated ro-ro vessel, which went missing on...
Floating storage required amid bulging onshore inventories It is a good time to be a vessel owner, says Vitol's Bake
Tankers to benefit from cheap oil Days of oil at $60 per barrel are now over, say industry experts at International Petroleum Week
A weight on their minds Compulsory container weighing comes into force in less than six months' time.
Eagle Bulk Shipping reaches new waiver extension until February 23 Lenders agree to temporarily lower minimum liquidity requirement in exchange for receiving missed $3.9m loan payment
Avance Gas sees 2015 profit more than double High US exports combined with robust Asian demand boosts coffers for the spot market player
'China effect' passes by tankers Slowdown is not affecting China's appetite for oil imports
Newbuilding investments up by $8bn in 2015 Ultra large containerships dominate orderbook, which grew by a further 2.3m teu
Polarcus to record $242m fourth quarter impairments Norwegian financial authority scrutinises oil service industry asset values
Odessa posts big fall in cargo volume Ukrainian seaport blames poor performance in January on political and foreign policy factors and global trends
CSCL Indian Ocean refloating successful Operation required 12 tugs and was led by Smit Salvage
Lapse in 'safety culture' contributed to loss of seafarer on Cape Splendour Australian Transport Safety Board issues safety advisory
Get ready for a difficult year in ship financing Precious Shipping chief executive Khalid Hashim sees limited options to recapitalise for dry bulk owners in 2016, and bankers less willing to 'pretend and extend'
Tough dry bulk market deepens Precious Shipping's loss Lower rates pinch daily average vessel earnings by 23%
Port of New York and New Jersey 2015 cargo volumes rise 10% Loaded container imports boost throughput at east coast's busiest port
Yard Talk | The five most popular newbuilding types in 2015 ULCVs top Clarksons table, while all crude tanker segments draw large investments
Dimensional pulls back from offshore owners Texas investment firm cuts Hornbeck stake from 8.5% to 7.5%; GulfMark shares down too.
Rand Logistics unveils 'disappointing' loss Customer in bankruptcy protection blamed on surprise profitability slump.
Clarsksons ups Avance, Arctic trims outlook Morkedal gets more positive on Oslo-listed LPG owner; Stavseth puts sector under review.
Clarksons: offshore drilling at 30-year low Shipbroker drilling market report shows global working utilisation at 73% for offshore fleet.
Vatican scammer convicted in London A fraudster who fleeced more than $100m out of Switzerland-based Allseas to be sentenced.
Shipping plunges in global stock rout Scorpio Bulkers leads declining US shares; Japanese shipping index plunges.
IEA holds view of slower oil growth Demand to slow in 2016, but tankers hope for an undershoot on forecast.
Line of dry owners cut by Clarksons Platou Financial arm of major shipbroker resets its ratings on series of bulker owners.
Eidesvik wins first windfarm contract Oslo-listed company signs deal with Siemens to secure nine-month employment for laid-up vessel.
Lanhai supramax trio on offer at $21m Arrested Chinese bulkers to be auctioned this month following collapse of domestic coal group.
Eagle Bulk clock wound on for two weeks Bulker owner given more time to hatch solution to liquidity problems.
Hanjin Heavy adding Philippines workers Korean shipbuilder needs more staff to build ULC trio for CMA CGM.
BDI down again amid liquidity warning Baltic Dry Index adds to losing sequence as Clarksons Platou Securities sets out recovery timetable.
Solvang in game-changing fuel project New system installed on Norwegian LPGC shows NOx emissions can be chopped by more than half.
Dutch cargoship breaks down off Orkney UK tug brings Schokland into port after it lost power over the weekend.
Navig8 Chemical Tankers surges to profit London-based owner turns around 2014's Q4 net loss to post earnings of $9.1m as fleet grows.
Franklin in third strike for Clarksons shares Investor extends its leading position in the giant shipbroker after double buy in January.
Bangladesh plots first service to ASEAN country Thai delegation visits Dhaka in bid to open up route to Ranong.
DeepOcean ends Volstad charter Eivind Volstad-led company rejects the termination and is set to claim damages.
Seagulf splashes shipyard cash Sri Lankan group expanding operations through $40m investment with Malaysian partner.
TUI powers to bigger cruise profit German group says earnings rise to $9m in first three months of its financial year.
Avance stock dives after dividend switch Oslo-listed VLGC owner's shares hit hard after surprise revision to payout policy.
Polarcus takes $242m impairment hit Restructuring seismic survey ship player booking non-cash charge in fourth quarter.
Boa Offshore banks 50% yard refund Norwegian owner gets half of the cash owed from cancelled PSV newbuildings.
CSCL Indian Ocean refloated in the Elbe Huge Chinese containership will now be inspected after five days stuck in German river.
U-Ming bans fishing from ships after fatality Crew did not routinely take all the required safety precautions when working over the side.
Big jump in incorrectly declared dangerous goods Tianjin port explosion one of the major reasons for increase as ports clamp down on safety, says Hapag-Lloyd
Pan Ocean linked to Nisshin kamsarmax South Korean shipowner said to have beaten off competition from another seven owners.
Regulators move forward on transport emissions standards EC will work with IMO toward adopting a mandatory global system to collect and report emissions from ships.
NYMEX crude falls back under $30/b as oil complex weakens Oil futures declined Monday after Saudi Arabia showed no signs of a possible OPEC output cut.
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