Why Seaman Guard Ohio case touches an Indian nerve The case of the Seaman Guard Ohio's 35 crew and guards currently serving five-year prison sentences in south India on illegal weapons charges, highlights the need for international maritime operators to conduct thorough due diligence - not only on national laws,...
Helios VLGC pool boosts capacity The scope of the Helios very large gas carrier (VLGC) pool will rise by 36% with the addition of ships from Oriental Energy to those of founding members Dorian LPG and Phoenix Tankers. "The Helios Pool will increase its market presence...
Two killed during Taiwanese vessel oil spill investigation Two people are reported to have died after a helicopter crashed when taking part in a pollution investigation off Taiwan on a grounded ship, TS Taipei. The vessel is said by local media to have spilled some 14 tonnes of oil. The helicopter crashed while returning for six...
OSV owners prefer to cold-stack vessels outside Singapore Singapore's offshore supply vessel (OSV) owners are not benefiting from cold-stacking their vessels in the port of Singapore after the extension of port dues concession introduced by the Maritime and Port Authority (MPA) of Singapore last year, IHS Fairplay has learned. At first, the MPA extended the...
Analyst Pareto raises 2016 VLCC earnings estimate by 15% As spot freight rates for VLCC tankers soared at the end of last week, shipping analysts at Pareto in Oslo have raised their estimate for VLCC earnings this year by 15% to USD48,750/day. "The VLCC market tightened dramatically last week, with several last-minute March...
Tanker and dry bulk values remain under downward pressure Values of crude oil tankers and dry bulk carriers have remained under downward pressure, shipping analysts at DNB Markets in Oslo say. VLCC resale values have fallen to USD96 million, 2.0% lower than a month ago and 4.0% below...
Hong Kong port statistics show true extent of dismal final quarter Hong Kong's Census and Statistics Department (C&SD) released figures that show a dismal fourth quarter throughput story with total volumes falling more than 25% including huge drops in China-related inbound and outbound volumes. Total cargo throughput fell by 25.5% to 56 million tonnes in the final...
Is it the time right time to order speculative tanker newbuildings? Traditionally when earnings are good within a shipping sector we see a surge in speculative newbuildings orders, especially when shipyards have capacity and prices are attractive but does this mean the time is right to order tankers? First off there...
Less than half of Golden Ocean's share offer taken up Retail investors have subscribed for just about 15 million of the 34.3 million shares that Golden Ocean Group, the listed dry bulk shipping company in John Fredriksen's business empire, offered to them, the company said in a statement. The shares were...
Japanese ship orders halved in February The decline in newbuilding orders in Japan continued in February, with newbuilding orders halving year-on-year to seven ships, according to statistics released by the Japan Ship Exporters Association. After recording substantial year-on-year increases in newbuilding orders in 2015, Japanese shipbuilders saw their streak snapped in the...
Seoul court vetos Samsun Logix's rehabilitation plan South Korean bulker owner Samsun Logix has encountered difficulties in its attempts to pull out of receivership, with the Seoul Central District Court rejecting its second rehabilitation plan. Justice Yoon Joon felt that given the bleak outlook for dry bulk shipping, Samsun Logix's proposed repayment...
Port expansion hopes fade as Moody's downgrades Adani's Abbot Point Moody's on 14 March downgraded the Adani Abbot Point Terminal (AAPT) in Australia three notches to a high-risk Ba2 investment grade, which effectively makes any investment in the port speculative and a substantial credit risk, a Moody's spokesperson told IHS Fairplay. The downgrade was based on continued weak coal market conditions,...
China to establish international maritime centre China is to establish an international maritime centre within the year so as to protect its sea rights, Zhou Qiang, head of the Supreme People's Court, has said in a report at the annual session...
AgTC supports USCG on box weighing rules Shippers' group calls for carriers to provide their own tare weight for containers and calculate their own VGM
Greek-owned fleet continues to expand Survey finds Greeks control 15.8% of world fleet and gaining share except in crude tankers
Singapore: Staying Strong Ahead of Singapore Maritime Week, Katherine Espina takes a look at what Singapore is doing to win the transhipment game amid the current container shipping downturn
Future of shipping: smaller crews and more shoreside control Increasingly affordable connectivity will change the shipping industry, according to Lloyd's Register marine marketing director Luis Benito
Viking Supply Ships moves to lay up entire PSV fleet Owner cuts PSV losses in favour of operational savings in continued weak market
Dragnis family looks to acquire all of Goldenport's vessels Goldenport directors will seek to dissolve company if proposed transaction is successful
Singapore box volumes fall 7.7% year on year Singapore port moves 3.2% fewer containers in February than in previous month
Noble Group unit incorporates natural gas solutions subsidiary Subsidiary to supply gas to power generation, transportation, energy and industrial sectors in Mexico
Port of Virginia container throughput up 24% year-on-year February 2015 volumes affected by snowstorms
ClassNK joins USCG Alternate Compliance Programme Programme allows NK-classed, US-flagged vessels to receive certificate of inspection based on reports from ClassNK
Finland and Japan ink strategic pact Initiatives to include greater use of Northern Sea Route
Frightened by an uncharted future The plunge into exciting new ways of navigation brings a lot of new risks
Russian Gazpromneft Marine Bunker's 2015 sales down 8% on year Claims 21% share of the Russian bunker market.
IBIA joins Trident Alliance as strategic partner Want to promote compliance with sulfur regulations and a level playing field across the industry.
Baltic Sea and North Sea ECAs to seek NOx limits Proposal likely to be submitted to IMO in October, further building the case for LNG-fueled ships.
Singapore February bunker sales rise 3% on year to 3.5 million mt February total was the lowest since February 2015.
Singapore Data: Feb Bunker Fuel Sales Rise 3% On Year To 3.5 Mil Mt February total was the lowest since February 2015 when the port saw sales of 3.4 million mt.
Heavy Singapore fuel oil trading seen unlikely to congest terminals Some terminals can handle both clean and dirty products.
TENDER DATA: Pakistan's PSO buys up to 180,000 mt of LSFO for April-May Loading over April to May
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