US anticipates 2016 rollout of towing vessel safety rules Rules aimed at reducing the risk of injuries, fatalities, and oil spills in the US caused by towing vessel accidents may finally see the light of day in 2016. Referred to in the industry as "Subchapter M", the section in federal regulations code under which...
Coast Guard Begins Formal El Faro Investigation A formal United States Coast Guard Marine Board of Investigation into the sinking of the American flagged vessel El Faro and the loss of 33 lives last October will begin Tuesday seeking a cause for the deadliest American merchant marine disaster since the...
New Container Service at Port of Houston Authority HOUSTON, Feb. 12, 2016 (GLOBE NEWSWIRE) -- The first regular direct container/ roro service between Houston and West Africa was launched by Grimaldi Lines at the Port of Houston Authority's Barbours Cut Container Terminal today. The Grimaldi West Africa Service Direct, which also is the only direct container service from the...
Port of Kiel acquires property and warehouse at the Ostuferhafen Kiel, January 15th, 2016: The Port of Kiel has acquired a 3.2 hectare commercial site with warehousing from Agrar Terminal Peter Rothe GmbH & Co. KG, which lies right next to the Ostuferhafen. The warehouse boasts more than 18,500m² of useable floor area as well as an office building and waterfront...
The most intensive and complex repair at Gemak Group for mid-life refit project of CSD "Leonardo Da Vinci" After completion of four cutter suction dredger vessels and four hopper suction dredger vessels' repair works just in the course of 2015, Gemak Group was awarded in September 2015 by Jan De Nul Group to undertake the mid-life refit project of CSD Leonardo Da Vinci. CSD Leonardo Da Vinci is one of...
Pan Ocean ships first animal feed cargo for parent Harim Group South Korean bulker operator Pan Ocean has shipped its first cargo of animal feed for its parent Harim Group, fulfilling the latter's purpose for acquiring it. On 11 February, Pan Ocean delivered 71,500 tonnes of corn from Brazil's Santos port into Incheon, South Korea's biggest discharging port...
LNG, vessel fabrication drag on MISC's earnings Lower earnings from its LNG shipping operations and vessel fabrication businesses were the only flaws in Malaysian carrier MISC's 2015 results. MISC posted net profit of MYR2.5 billion (USD580.85 million) in 2015, up 12% year on year. CIMB Securities analyst Raymond Yap said,...
China's nickel ore imports fell 26% in 2015 China imported 26% less nickel ore in 2015 as slowing domestic steel demand and Indonesia's ban on raw ore exports took their toll. China Customs data showed that the country imported 35.28 million tonnes of nickel ore in 2015. Nickel ore is primarily carried on Supramax and...
HHI wins first newbuilding order of 2016 South Korea's Hyundai Heavy Industries (HHI) has secured its first newbuilding contract for 2016. The vessel order is for a pair of Suezmax tankers for Turkish operator Ditas Deniz Isletmeciligi ve Tankerciligi A.S. Both firm 158,000 dwt tankers are scheduled for delivery in 2018. The shipbuilder's newbuildings orderbook currently stands at 95...
Fresh impairment charges drag Petroleum Geo Services deeper into red Fresh impairment charges at Petroleum Geo Services (PGS), the listed Norwegian seismic services provider, has dragged the company significantly deeper into losses both in 4Q15 and the full year compared to corresponding period a year earlier. PGS reported 4Q15 net loss of USD334.6 million compared to a loss of USD93.6 million...
DP World to invest in India ports Global port operator DP World is betting on growth in India, announcing that it will seek opportunities worth over USD1 billion in the next few years. "DP World has established a leading position in the Indian market and is a pioneer in...
Stena Bulk commisions new class of MR tanker Stena Bulk has commissioned the 50,000 dwt Stena Imperative, the latest example of an innovative new class of versatile medium-range(MR) tanker constructed by CSSC Offshore & Marine Engineering(CSSC OME), the former Guangzhou Shipyard International. The delivery follows the recent award of a further three-ship contract to...
Tianjin blasts to yield tighter safety regimes at Chinese ports China announced additional safety requirements for companies dealing with dangerous goods as it continues to highlight its resolve to overhaul safety procedures in the wake of the deadly Tianjin blasts and to punish those responsible. Companies that produce, store, or use dangerous goods are...
Broader sourcing to hike carrier box repositioning costs, says analyst A widening east-west trade gap is going to push up container repositioning costs for carriers as Asian importers broaden their sourcing origins, according to Drewry.The analyst said in 2015, carriers operating between Asia and North America had to reposition 1.2 million teu more than they did in 2014...
Billion-dollar drug bust at Sydney container terminal Australian authorities have seized a huge shipment of the drug known as 'ice' with a market value of more than AUD1 billion (USD715 million) hidden in a container imported from Hong Kong in the nation's biggest ever methyl amphetamine bust.In a joint Australia-China police and customs...
JES sells shipbuilding segments to service debts Singapore-listed JES Holdings was forced to dispose of its shipbuilding capability to pay off debts, owing to a lack of new orders in the current market. The debt-ridden shipbuilder sold two of its wholly owned subsidiaries in Jingjiang, China - Jiangsu New East Marine Equipment and Jiangsu Eastern Heavy Industry Co...
Standard confirms Carnival departure and anticipates investment loss But P&I club expects gains elsewhere and small underwriting profit
Data Hub: Charter Rates With charter rates finally bottoming out the industry hopes for a spark to reignite the market
Rio Tinto increases bauxite exports from Australia Increased exports from Australia to China will help dry bulk sector as tonne-mile rises
Calm but watchful progress on a giant of the seas We find out what it is like to sail on one of the new ultra large containerships
View from the Bridge: John Møller Jensen As a new generation of ultra large containerships enters service, the master of 18,270 teu Marie Maersk , John M'ller Jensen, talks about what it is like to be in charge of one of the most valuable assets on the high seas
First 2016 newbuilding VLCC ordered Japan's Kyoei Tanker Co makes first assault on newbuilding VLCC market this year
Cosco Corp and Sembcorp Marine post deep annual losses Both Singapore-listed builders with strong offshore businesses are hit by market's collapse
Tankers KGs making returns of up to 40%, Lloyd Fonds reveals But boxship payouts remain in the doldrums
Dry bulk owners divide to survive Operators are shedding tonnage and more in a bid to endure the downturn
NGOs criticise Maersk Group's decision to beach ships at Alang Maersk's decision to use facilities that beach ships undermines European initiatives to improve global ship recycling yard conditions, groups claim
Singapore handles fewer containers Container throughput slips 1.1% month-on-month in January
Carriers tap alternative route for Asia-US east coast backhaul leg Deployment change seen a 'major blow' to Panama and Suez Canals, SeaIntel says
Gulf Navigation 2015 profit doubles Company to focus on core strengths, cost structure and new products and services
Southeast Asia's first independent LPG import facility comes online Jurong Island LPG facility has initial capacity of 80,000 cu m and supplies nearby petrochemical plants through pipelines
Adani Ports and Special Economic Zone posts strong profits Group focusi on improving operational efficiency
DP World eyes $1bn India port infrastructure investment Areas of investment include inland container depots and brownfield container terminal expansions
JES to sell shipbuilding business to Hong Kong investor Total known bank debts in its shipyards amounted to approximately $308m
Vopak opens Singapore LPG terminal New terminal will connect island's petrochemical plants to world LPG supply.
South Korea mulls North Korea ban Southern neighbour may prevent vessels that called in the North docking at its ports.
New captain to end stalemate on capesize Crew on a Safe Bulkers ship refuse to set sail following a colleague's death; company now sending a new master.
Shreyas adding boxship despite profit fall Indian owner pursuing new second-hand deal against backdrop of reduced Q3 earnings.
Bulker orders to drop, boxships may not stop S&P outlines its newbuilding outlook for 2016 with better supply-demand balance not in sight yet.
Video captures boxship hitting the side Footage shows Xetha Bhum ploughing into embankment in Thailand.
One missing after ferry collision Philippines investigates clash between fishing vessel and unidentified passengership.
Cosco Corp posts $654m net loss in 2015 Singapore-listed shipbuilder bleeds red ink amidst unfavourable conditions which are likely to worsen.
Panama Canal leak successfully plugged Contractor GUPC says tests show no water is seeping from sills in new locks.
ABS takes new path with Tikka's promotion US class society centralises its global marine activities as it gives former Europe and Africa boss a new role.
Sembcorp Marine takes $436m hit Singapore yard group posts annual loss as it makes provision for Sete Brasil drillship projects.
ABS takes new approach with Tikka's promotion US class society centralises its global marine activities as it gives former Europe and Africa boss a new role.
JES sells $231m Jiangsu Eastern for $0.5m Singapore group finds Hong Kong buyer for insolvent shipyard as court restructuring row drags on.
Small tanker seized by Libyan coastguard Authorities in troubled North African country intercept vessel said to be smuggling diesel.
PGS 'well-positioned' despite big loss CEO of seismic vessel owner says the company has taken proactive steps to weather the storm.
Oceanteam settles Sawicon dispute Owner brings to an end five-year court battle with designer over rights to North Ocean vessels.
One dead as tanker sinks off Indonesia Crewman's body found after Nusantara Akbar took on water off Dumai.
Bulk Invest looks to start talks with creditors Former Western Bulk kicks off latest round of restructuring as it seeks to combat dry downturn.
Topaz Energy stacks offshore duo Dubai owner shifts PSVs from West Africa to layup in Turkey.
Iran exports first cargo of crude to Europe Oil minister says it has already reached agreement to export oil to France, Russia and Spain.
APL containership aground off UK port is refloated Ship said to have made a controlled grounding on Saturday evening following a loss of power.
Rate boost sees Gulf Navigation end 2015 on a high Dubai-based tanker owner firing on all cylinders with results double those of a year ago.
Nam Cheong expects to end fourth quarter in the red Singapore-listed company is the latest in the offshore sector to issue a profit warning.
Tumpuan Megah Development offers marine gasoil in Tanjung Pelepas, Johor Move comes after sealing bunkering partnership deal in December.
UK Supreme Court allows appeal on OW Bunker test case Current ruling has left multiple owners in danger of having to pay twice for fuel supplied under contracts involving OW Bunker as a back-to-back trader.
Panama Canal's leaking locks plugged Problem could have delayed expansion.
Japan's Dec bonded bunker fuel sales slide 12% from Nov to 2.32 mil barrels Bonded bunker fuel sales in December still 15.2% higher than previous year.
Singapore's Jan bunker fuel sales rise 13% on-year to 4.16 mil mt Record in January was second highest, after 4.3 million mt of bunker fuel sold in August 2015.
Fujairah port's first VLCC berth to be operational by June: official The 26 draft meters berth allows both crude and fuel oil transfers.
Libya intercepts tanker suspected of fuel smuggling out of country This is the second arrest of illegal fuel smuggling operations in six months.
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