Modest growth for dry bulk on the cards in 2016 The dry bulk market is expected to enjoy modest growth of 0.5% year-on-year for 2016, according to Luciana Salles, principal analyst at IHS Maritime & Trade. She highlighted that the...
Vard branches into cruise ship construction Vard, the Norwegian offshore services and specialised vessel builder in Italy's Fincantieri group, says it has signed a letter of intent to build four expedition-type cruise vessels of about 10,000 gt for Ponant, the French expedition cruise operator owned by the Pinault family. The...
Hyundai Merchant Marine restructuring going smoothly, minister reports South Korea's Minister of Oceans and Fisheries Kim Young Suk has assessed that restructuring efforts at beleaguered Hyundai Merchant Marine (HMM) are progressing smoothly. HMM, South Korea's second-biggest shipping company, has been selling assets and renegotiating charters as it works...
Creditors to lower interest rate for STX O&S The creditors of South Korean shipbuilder STX Offshore & Shipbuilding (STX O&S) are planning to cut their interest rates to help the company survive. Sources from STX O&S told IHS Fairplay that the shipbuilder's banks plan to drop interest rates to 1% from the current 3%...
Mombasa adds half a million teu of new capacity to deal with congestion woes Kenya's Port of Mombasa completed phase 1 of its Mombasa Port Development Project (MPDP) increasing the capacity of the large congested east African port by 550,000 teu. The USD217 million Japan-funded project to build the Kipevu container terminal took four years to build. It includes three...
South Korea re-enters container leasing business South Korea has made a second attempt to establish a domestic container leasing business with logistics firm City Airport, Logis and Travel (CALT), a joint venture between Korea International Trade Association and a Chinese...
Last Australian-crewed oil tanker sails for Singapore The last in a fleet of five Australian-managed and -crewed fuel tankers has left the country's coastal trade for Singapore, never to return. British Fidelity, a 29,335 gt Isle of Man-flagged product tanker built in 2003, has been working the Australian coast for multinational BP, carrying fuel...
Reorganised China Merchants Group appoints new leadership China Merchants Group, after taking over Sinotrans & CSC in December 2015, has selected two new vice-presidents. Li Xiaopeng, general manager of China Merchants Group, and Zhao Huxiang, president of Sinotrans & CSC, were both appointed as vice-presidents of the new China Merchants Group by China's State-owned Assets Supervision and Administration...
Seaborne coal import to settle at 903 million tonnes in 2016 Global seaborne import of steam coal is estimated to drop 6 million tonnes year on year to 903 million tonnes in 2016, according to Scott Dendy, director of IHS Coal. Speaking at the recent IHS Maritime & Trade briefing event, he explained that the drop is closely linked to declining coal...
US eases Cuba sanctions on box carriers The Obama Administration has made it easier for vessels trading in the US to add Cuba to their itinerary. The US Department of Commerce's Bureau of Industry and Security (BIS) on 15 March announced it will begin allowing vessels to transport authorised cargo originating in the US...
MAIB finds multiple errors in Hoegh Osaka grounding Faulty equipment, inaccurate cargo weights and miscommunication contributed to vessel's list and grounding
UK Chamber of Shipping's new president to pledge action on safety Shell's Grahaeme Henderson to deliver speech at UK Chamber of Shipping's AGM
MR tanker rates remain soft amid product stockpiles But LR rates recover on naphtha flows
CSCL in management reshuffle Senior executives with financial background are taking the helm
View from the Bridge: Robbert van Trooijen The chief executive of Maersk's merged Asian operations refuses to see only negatives in the market and wants to make the most of 2M's lead
Idle box fleet nears record highs With overcapacity and weak demand expected to continue throughout 2016, lines will have little choice but to lay up yet more ships
Suezmax and aframax rates continue March rally Singapore time-charter demand continues, as 20 vessels are fixed with storage options
Cobelfret orders six ro-ro workhorses Latest order follows contracts for two larger ro-ro vessels at Hyundai Mipo last year
BV cuts ship design review time by 40% in software trial CSSC ship design arm reports time savings in initial trial on bulk carrier design
TEN remains bullish on core tankers market But Greece-based owner 'a believer' in gas for longer term
Yang Ming and RCL to expand slot exchange and vessel chartering services Co-operation aims to enhance competitiveness and cut costs
Odfjell Terminals to get new chief executive Frank Erkelens will join the company on May 1, 2016
Panama establishes maritime co-operation ties with Egypt Egyptian authorities plan to make maritime transportation sector one of the country's key economic pillars
IHI unit to exit stake in Brazilian shipyard Transaction expected to be done in mid-April 2016
Ponant eyes Vard cruiseship quartet Each ship will be able to hold 180 passengers in 92 cabins along with 110 crew
Gener8 closes 2015 with a bang Stock remains a laggard with company expected to take delivery of an additional 12 VLCCs in 2016
NileDutch buys up Safmarine MPV Operator picks up Maersk's Europe-to-West Africa multipurpose ship services and operations from rival.
Scorpio Bulkers sells shares; backers buy New York-listed shipowner says company directors and Lolli-Ghetti family could spend $15m in public offering.
China Merchants Group tied to Baltic bid State-run conglomerate reportedly among suitors for London shipping marketplace.
Gener8 to take a 'hard look' at dividend Chief financial officer wonders if payout will be valued as he gives colourful view on tough finance market.
Former RS Platou investors seek Clarksons stock sales Peter Anker among those selling shares in shipbroker after the end of lock-in period.
Confidence takes Teekay Offshore higher Teekay spinoff's stock up 48% so far this week as jitters over liquidity gap fade.
Stock prices and special sauce block tanker mergers Peter Georgiopoulos wants to consolidate tanker market but says it is presently difficult.
Poland plots shipbuilding revival Finance ministry introducing new tax breaks to boost domestic industry.
Island wins green light from bondholders Norwegian owner ready to move forward with its debt restructuring after unanimous approval.
RollDock acquires L&T newbuilding Dutch heavylift owner adds semi-submersible unit from Indian shipbuilder, bringing its fleet to seven.
Qingdao sells six tugs to Svitzer alliance Collaboration between Chinese port and Danish company takes shape with $31.7m S&P deal.
Minister: HMM restructuring on track Kim Young-suk says Korean owner's refinancing backed by watchdog and major creditor.
Neepa starts Bangladesh to India run Multipurpose Harbour-1 inaugurates service from PCT to seven Indian ports.
Iran says first oil to Greece due this month Oil ministry executive says important deal will move forward despite rumours of restrictions.
Major management reshuffle at CSCL Restructuring Chinese company replaces chief executive, chairman and investment strategy committee.
Ceyhan ready to load Kurdish crude again Greek suezmax docks in Turkish port to lift cargo after stoppage ends.
Boxship crews told to watch their step Survey conducted by the Swedish Club finds that 60% of falls and slips on vessels occur on containerships.
TAS AHTS delivery refused over "quality issues" Malaysian builder gears up for legal fight after two completed $13.5m ships rejected by buyer.
Paragon maintains Nasdaq listing after share split Greek bulker owner regains compliance with US exchange's $1 price requirement.
BW Group hires Bonfils to lead bulker drive Nordic Bulk Carriers founder joins Singaporean group as it seeks first foothold in dry cargo market.
d'Amico fixes $250m of new credit Italian tanker owner completes funding for $755m newbuilding drive begun in 2012.
Higher rates boost Nordic's annual profit Danish chemical tanker owner posts sharp earnings increase in line with its forecast.
Cosco mulls bid for Greece's rail company Chinese giant looking to establish European land transportation network following Piraeus port takeover.
Tsakos set for 'major strategic transaction' and FSRU move Chief executive says deal on subjects and LNG carrier may be converted.
Hyundai Heavy hit by $100m tax bill Korean yard considering review of big demand from authorities.
Maersk Line tries for $400 Europe rise Danish containership giant hiking fees from Asia next month.
Cochin Shipyard eyes repair facility Indian IPO candidate wants to invest $142m in new plant.
Swire Shipping to boost Port Moresby coverage Hong Kong shipowner looks to improve coverage of Papua New Guinea with enhanced service.
Tidewater taps revolving credit facility Offshore vessel operator says move intended to enhance the company's liquidity position.
Vard poised for luxury cruiseship orders Struggling Norwegian shipbuilder sings LOI for four luxury expedition cruise vessels.
Briese Schiffahrts pleads guilty over oil pollution German shipowner's vessel banned from US waters for five years as part of punishment.
Fujairah fuel quality trend improving after Al+Si peak in 2012 Sharp increase in average catalyst fines during 2011 and 2012 'almost certainly' linked to start of Iran sanctions.
Japan's Jan bonded bunker fuel sales rise 8.7% from Dec to 2.52 mil barrels But sales of bonded MDO in January fell.
Platts Survey: OPEC pumped 32.34 million barrels of crude oil per day in February Down 90,000 b/d from January.
Japan's HSFO output falls 22.1% on week to 2 mil barrels for Mar 6-12 But LSFO output up 1.5% on week.
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