P&I deal for Iran would be temporary and 'fragile' Talks between the International Group of P&I Clubs and the US regulators over a potential deal for a temporary facility to allow insurance for vessels trading with Iranian firms are ongoing IHS Fairplay...
US diesel tracked to Europe expected to triple month-on-month Nearly 3.5 million tonnes (26 million bbl) of ultra-low-sulphur diesel is tracked arriving in Europe over March on 84 tankers, according to the OPIS Tanker Tracker, an IHS product. The tally shows that volumes from the US are so far estimated to triple from last month's...
PALFINGER DREGGEN gets Statoil contract Statoil has awarded PALFINGER DREGGEN the contract for the complete rebuilding and upgrading of six BOP cranes for the Gullfaks field. Each of the BOP cranes to be delivered from PALFINGER DREGGEN will have the capacity to lift 2 x 20 tons. In addition the cranes are equipped with an auxiliary...
IMarEST partners with MAAP and will launch new Philippines Branch The Maritime Academy of Asia and the Pacific (MAAP) is the latest Marine Partner to join the Institute of Marine Engineering, Science and Technology (IMarEST) and sees 45 of MAAP's academic staff and around 1500 engineering and deck cadets enrolled as members of the IMarEST to support their Initial and...
Port Regulation: Parliament vote brings ports one step closer to autonomy Yesterday, the European Parliament voted on the Port Regulation and the Fleckenstein Report. The European Parliament confirmed the outcome of the Transport committee. 451 MEPs voted in favour of the deal reached by the rapporteur and the shadow rapporteurs. 234 MEPs voted against, while 18 MEPs abstained. An even larger...
13th ESPO conference - are European ports moving fast enough? The 2016 ESPO Conference will look into ways to improve the efficiency of maritime transport and ports, this from different angles: How to remove the remaining barriers in maritime transport and how to come to a real internal market for maritime transport? How to set the digital agenda for ports?...
Ageing tankers pulled from markets The preference of charterers for newer tankers is persuading owners to pull ageing tonnage out of many key markets, according to leaders in the sector. Frontline, the listed tanker operator in John Fredriksen's business empire, said newbuilding deliveries are accelerating this year, particularly in the second half of 2016, and the...
Port of Gothenburg appoints new Harbour Master The Port of Gothenburg has appointed a new Harbour Master - Åsa Kärnebro. Åsa has been deputy Harbour Master at the Port of Gothenburg since 2010. In her new position she has identified a number of ways to further strengthen the port's competitiveness, not only in Europe but also globally. As...
ESPO Award - how is your port working with nature? 04 March 2016: The theme for the 8th ESPO Award on Societal Integration of Ports is "Nature in Ports". In general, European ports are part of very valuable ecosystems, both on the land and waterside. Many port areas are also neighbouring Natura 2000 areas or even consist of Natura 2000...
Dredging association EADA India's annual conference EADA India is pleased to invite you for its annual conference EADA India 2016, organized by hosted by Adani Ports and SEZ limited on behalf of EADA India that is scheduled to be held at Ahmadabad on March 11-12,2016. The conference shall have experts from the industry, policy makers from Government,...
Kalmar to deliver 19 hybrid shuttle carriers to APM Terminals' newest container terminal in Italy Kalmar, part of Cargotec, has received an order for 19 hybrid shuttle carriers from APM Terminals for their newest container terminal that is under construction in Vado, Italy. The machines will be delivered during 2017. APM Terminals' deepwater Vado container terminal will be the world's first container terminal to employ an...
Agenda for EADA India AGM 2016 Eastern Dredging Association, INDIA Agenda for Annual General Meeting - 2016 NOTICE Notice is hereby issued that the Annual General Meeting (AGM) for the year 2016 of Eastern Dredging Association India is scheduled to be held on March 11, 2016 at 1700 hrs at the EADA India 2016 conference venue, AIIM, Shantigram, Ahmedabad...
Port of Rotterdam Authority to redirect 4km of port section of Betuwe Route The Port of Rotterdam Authority is going to redirect approximately 4km of the port (or first) section of the Betuwe Route. As a result, the railway line will no longer run over the Caland Bridge, so that shipping...
Suez Canal Access Channel is Officially Opened East Port Said, Egypt - Completed within just three months, the new 8.5 km (5.2 mile) access channel directly links the East Port Said port complex to the Mediterranean Sea, eliminating the need for vessels heading to the Suez Canal Container Terminal (SCCT) to wait 6-8 hours for a time...
Damen signs MOU with Pearlson Shiplift Corporation The Damen Shipyards Group and Pearlson Shiplift Corporation have signed a Memorandum of Understanding (MOU) for close cooperation between the two companies in the design and execution of shiplift projects around the...
No relief for mainline boxship operators Mainline container ship operators will continue to have a hard time container ship deliveries have increased considerably from 1.3 million teu in 2012 to 1.7 million teu in 2015, a broker stated. In 2016, approximately 190 vessels 1.3 millon teu are expected to be delivered. Italian broker Banchero Costa...
VLGC rates fall to loss-making levels Freight rates to haul LPG on very large gas carriers have weakened to below break-even levels amid heavy newbuilding deliveries and muted trade activity. Freight rates are now hovering at USD32 to USD33 per tonne, with ship brokers expressing concern at what appears to be a...
Rig market faces a perfect storm as capacity outstrips projected demand The offshore rig market faces a 'perfect storm', especially in southeast Asia, where excess capacity outstrips projected demand for 2016 and 2017. Based on IHS Petrodata's February report, market supply of jackups in...
Daiichi Chuo Kisen Kaisha unveils bailout plans Japanese bulker owner Daiichi Chuo Kisen Kaisha today unveiled investment agreements with 14 of its creditors, comprising compatriot shipbuilders and shipowners. Concurrently, Daiichi Chuo Kisen Kaisha, which filed for civil rehabilitation on 29 September 2015 after incurring JPY177 billion (USD1.47 billion) of debts, has...
Great Yarmouth selected as construction port for USD3.5 billion wind farm Peel Ports Group's port of Great Yarmouth in Norfolk, UK, has been selected as the port for construction and installation activities for ScottishPower Renewables' USD3.5 billion East Anglia ONE offshore wind farm. ScottishPower Renewables (SPR) and Peel...
Chipolbrok looks to complete fleet upgrade by mid-year Polish-Chinese project and breakbulk shipping line Chipolbrok is on track to phase in all its latest-generation multipurpose newbuildings into its east-west services by the middle of this year, its managing directors told IHS Fairplay. The company aims to...
APM Terminals Completes Acquisition of Grup Maritim TCB 9 March 2016 The Hague, Netherlands - APM Terminals has completed the USD 1 billion acquisition of Spanish Grup Maritim TCB's port and rail interests. APM Terminals has yet to receive approval for three of 11 terminals under...
Tumbling revenues and falling demand add to offshore owners' pain Collapsing revenues of offshore vessel operators and little chance of recovery in the near term even if oil prices increase are testing both the pockets and the resolve of companies in the beleaguered shipping sector. "A...
Marine insurers issue anchor safety warning Shipowners and crews have been warned they need to take the threat posed by lost anchors seriously. Marine insurers Gard and the Swedish Club have combined with class society DNV GL to investigate the causes, both technical and operational, of anchor and anchor chain loss. An investigation...
CKYHE revises Asia-Europe, Med network amid slowing demand The CKYHE alliance is reorganizing its service network for Asia-Europe and Asia-Mediterranean trades as the carriers try to counter the weak demand and excess capacity that is plaguing the route and dragging down freight rates. Members of the alliance - COSCON, 'K' Line, Yang Ming,...
Transocean delays five jackup deliveries to 2020 Switzerland-based offshore drilling contractor Transocean and Singapore-based rig-builder Keppel FELS have mutually agreed to delay the delivery of five jackups until 2020. The new delivery dates for the five Super B 400 Bigfoot Class drilling rigs are postponed to two- and three-month intervals in the first quarter of 2020. For the...
Fund divests 30% of Egypt container terminal operator to Hutchison MENA Infrastructure, a fund manager and equity investor in Middle East infrastructure, said it divested its 30.3% stake in Egypt's Alexandria International Container Terminals (AICT) to Hong Kong's Hutchison Port Holdings (HPH) for an undisclosed sum. AICT, a joint venture between HPH, Alexandria Port Authority, and Saudi investment group...
Bunker catches fire off Dalian port, China A bunker ship caught fire off Dalian port in northern China on 7 March. Five crew members of Bo Feng You Gong 10 had to abandon the ship, announced Dalian Maritime Safety Administration. The engine room of this 61.2 m-long ship caught fire at about 10:00 h local time on 7 March...
Exmar and Pacific break off Colombian FLNG deal Gas transport and supply chain specialist Exmar and Canadian natural gas and oil producer Pacific Exploration and Production (PEP) have cancelled their natural gas liquefaction and storage agreement in Colombia. Exmar told IHS Fairplay that it took the initiative to end the 15-year agreement, which it had already indicated would not...
Economou's DryShips loses USD2.85 billion in a single year George Economou-founded DryShips has suffered yet another massive quarterly loss - capping off one of the worst full-year performances ever by a public shipping company - and has now stopped making principal payments on its bank debt. The embattled NASDAQ-listed bulker and offshore owner...
Marshall Islands flag leans on technology to reduce detentions Putting existing technology to better use to help shipowners make money will be a priority for the Marshall Islands flag in 2016. One way the flag state is doing that is by combining ship tracking data with vessel notices of arrival to keep crews better...
Kirby buys Seacor tank barges for USD88 million Inland barge operator Kirby Corp. has agreed to buy the inland tank barge fleet from subsidiaries of Seacor Holdings for USD88 million in cash. The asset purchase agreement, announced 8 March, includes 27 inland 30,000-barrel tank barges and 13 inland towboats, as well as a 30,000-barrel tank barge and a towboat...
Marsh highlights dangers of inadequate hydrography Large parts of national and international waters never surveyed, says top broker
Survival of the fittest Dry bulk owners are scrambling to shore up their balance sheets through alternative finance, loan deferrals, share buybacks and ship sales
Gulftainer reports above market-average box growth Middle Eastern operator bucks trend of slowing volume growth, posting 4% rise in throughput figures across its portfolio
Warning of 'chaos' after CMA CGM decision to deploy 18,000 teu ships on Pacific Maritime experts fear the impact mega vessels could have on beleaguered Asia-US container trades
Charterers and owners clash over tanker age limits Owners unable to invest in younger ships without better freight rate deals paid by oil major charterers
Consultation opens on EU regulation to ease port state aid approval process Brussels exercise in cutting red tape gets first of two public consultations
Solid start to the year for transatlantic traffic Box volumes on westbound and eastbound services up in January
Offshore and under pressure Offshore rates are low, waves of job cuts continue to hit the industry and shipowners and oil majors alike are going to ever more extreme lengths to endure a downturn with no clear end in sight
Better the devil you know? Sometimes it is the ideas from outside that are truly transformational and able to move the industry forward
International Group gets US nod on Iran cover Mechanism will allow P&I Clubs to provide full cover to members in the short term for vessels involved in Iranian trade
CKYHE sets network changes for Asia to Europe, Mediterranean services Alliance to offer five Asia-North Europe services from end-March
APM Terminals completes Spanish deal Adds eight terminals to portfolio, but regulatory approval for Turkish terminal still not granted
Kirby to buy Seacor barge fleet Acquisition will be financed with funds from Kirby's revolving credit facility
Dryships suspends debt servicing amid dwindling cash reserves Total losses for the quarter stand at $528m including impairment charges and Ocean Rig writedown
Iran oil exports rise as demand from Europe grows Biggest buyer of Iranian crude is China, with 31.3% of total
Seaspan affirms dividend policy amid challenging market conditions Company focus on fleet growth and redemption of preferred shares that are due for dividend step-up
Vale and Fortescue pursue iron ore joint venture Alliance could boost long haul iron ore shipments
Exmar and Pacific Exploration scrap FLNG project Deal termination comes soon after cancellation or postponement of other FLNG projects around the world
DryShips' key asset, Ocean Rig, plunges 22% Shares in George Economou-led drilling contractor plummets after lower-than-expected earnings.
Aframax rates recover as enquiries pick up UPDATE: Brokers cite more demand from Black Sea and Ceyhan as helping to firm up rates.
Another New Shipping bulker runs aground Smit Salvage tapped to help capesize New Mykonos come unstuck off coast of Madagascar.
Navios discloses details on $50m loan Inter-company loan raised eyebrows when announced last week.
Seanergy leads gainers in mixed session Shipping stocks mostly rising in New York though most other bulker owners sink. Asia declines.
Second hand is the better option UACC chief executive Per Wistoft suggests expanding owners opt for the second-hand market.
Middle East helps lift VLCC spot rates Fixture of Onassis ship well above the WorldScale rate at the end of last week.
Tallinn devalues icebreaker as probe widens Port company writes down Botnica by $5.5m as prosecutors investigate 2012 purchase.
Aframax rates recover as enquiries pick UPDATE: Brokers cite more demand from Black Sea and Ceyhan as helping to firm up rates.
Nigerian owner cancels Havyard newbuild After initial delay, both sides decide to axe subsea deal, with Norwegian yard getting compensation.
Grounded Suez bulker refloated Greece's New Katerina pulled free in Egyptian canal; repairs taking place.
Harbor Star signs drydocks deal Philippines owner forms shiprepair joint venture with Guam Industrial Services.
MOL establishes new service with Daimler Japanese carrier set to route German company's vehicles through Slovenia in order to reduce emissions.
Two more Lanhai bulkers on the block Newbuilding and arrested panamax up for grabs in China following owner's collapse.
HMM expects final Hyundai Securities bids Up to six companies could vie for Korean owner's stake in brokerage.
Boskalis to axe vessels and staff after $483m profit Dutch dredging giant prepares for a difficult year ahead as it forecast lower earnings for current year.
Daiichi of Japan confirms cash injection Owner secures funds to help in its efforts to pull away from administration.
TGS COO appointed new CEO Kristian Johansen will replace the retiring Robert Hobbs at Norwegian offshore charterer.
CKYHE restructures European runs with 98 ships Coscon, K Line and others reorganise loops from Asia, pooling nearly 100 vessels.
Maersk Tankers completes first drone delivery at sea Shipowner hopes technology can prove a cost saver in delivery of spare parts and medicines.
Keppel sees five newbuildings delayed until 2020 Another blow for Singapore's hard pressed rig builders as Transocean delays units again.
DryShips halts payments across loans Economou-led shipowner misses balloon on three facilities and suspends instalments on remainder.
Kirby buys Seacor's inland tank-barge fleet US-listed tank-barge operator adds to fleet size with deal for compatriot's assets.
Rates and asset values hit DryShips George Economou-led company reports big Q4 loss as rates remain weak and asset values fall.
Minimal impact on Japan bunker fuel market from Cosmo's Sakaide oil terminal work Bunker fuel shipments from the terminal suspended since March 5, trade sources say.
Chemoil forays into Australia's bunker fuel market Starting in Port Kembla on April 2, will also sell bunkers at other NSW ports.
EU sulfur rule non-compliance about 5% in 2015: EMSA Inspection levels fall short of requirements, except in Baltic ECA.
Independent bunker broker opens US office Move makes Lindsay Blee 'true, global partner'.
ANALYSIS: European LNG bunkering losing competitiveness against MGO Spread between European gas prices and MGO declining steadily since May last year.
Oil futures turn lower on weak Chinese trade data Chinese exports decreased in February by 25.4% year on year, while imports declined 13.8%.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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