New round of shipping bankruptcies is near New York lawyers speaking to IHS Fairplay are confirming heightened inquiries about the bankruptcy process from shipowners and their lenders. The question ahead is whether many of these shipping companies can actually be rehabilitated - or whether they face liquidation. "It's not rocket science...
Daimler ramps up Med-China shipments Europe's leading car carrier ports Bremerhaven and Zeebrugge are going to face greater competition from the Slovenian port of Koper in the major Europe-to-Far East trade in the coming years as greater contingents of Mercedes export vehicles are heading south. German car manufacturer Daimler/Mercedes-Benz announced this...
Blue O'pen Consortium wins Blue Gate Antwerp remediation contract A contract has been awarded by the City of Antwerp, ParticipatieMaatschappij Vlaanderen, and Waterwegen en Zeekanaal via a public-private partnership (PPP) under which Blue O'pen will convert the last urban wasteland along the River Scheldt, at the southern edge of Antwerp, into...
Growing Asian LPG demand could absorb excess VLGCs While one very large gas carrier is being built every week this year, LPG demand and consumption is growing in Asia. Due to this, VLGC rates might not decline as steeply as previously feared, said Italian shipbroker Banchero Costa in a recent report. China's LPG...
Clubs should have done more for member renewals, says P&I broker One of the market's leading P&I brokers has said he believes the clubs could and should have done more to help members with the 2016/17 renewals. David Mahoney head of P&I at broker Aon said that while other areas of...
Golden Ocean restructuring secured after successful share placement A restructuring programme of Golden Ocean Group Ltd, the listed dry bulk shipping company in John Fredriksen's business empire, has been secured after a successful completion of a private placement of shares, the company said in a statement. The company placed...
Seafarer id cards 'will succeed where MLC fails' Access to shore leave for seafarers is expected to improve with technical amendments to electronic seafarer identity documents (SIDs) agreed this week. Seafarer charities welcome the development, but emphasise that SIDs highlight where the Maritime Labour...
Investment decision on Browse FLNG likely to be delayed Final investment decision on Woodside Petroleum's Browse floating LNG vessel project is likely to be postponed from this year to 2017, as uncertainty about gas prices grows. Woodside CEO Peter Coleman revealed this during a conference call to discuss the company's results. Woodside is Australia's largest independent oil...
Korea Investors Service puts Hanjin Shipping on watchlist South Korean ratings agency Korea Investors Service has put the country's biggest shipping company Hanjin Shipping on a watchlist for a potential downgrade, as there is no imminent recovery in dry bulk shipping. It has maintained a BB+ rating for Hanjin Shipping's unsecured bonds and a B+ rating...
Santos hit by USD1.9 billion loss amidst tumbling oil prices A 48% drop in drop in the price of oil continues to barrel Australian LNG producers, with Santos reporting a net loss of AUD 2.7 billion (USD1.9 billion) on top of Woodside's USD2.4 billion dollar drop in profits reported earlier in the week. Santos reported a 20% drop in sales revenue...
Asia piracy-free in January 2016 Singapore-headquartered anti-piracy agency ReCAAP information sharing centre's (ReCAAP's) January report indicated that there were no piracy activities in Asian waters in January, although nine armed robbery incidents were reported for the period. The nine incidents included two Category 2 incidents, two Category 3 incidents, and five Category 4 incidents. All nine...
Detained bulker kept dead seafarer in freezer A seafarer, killed in a shipboard incident on the bulk carrier MV Kanaris, was stored in the ship's freezer, alongside food provisions, as crew sought help 260 miles of the coast of Papua New Guinea. The Marshals Island bulk carrier was later detained in Gladstone Australia for breaches of the...
Cargo ship catches fire and sinks off Indonesia An Indonesia-flagged cargo ship caught fire and sank in the Java Sea, off Pulau Bawean, Indonesia. Lintas Belawan, 8,294 dwt, was initially under way from Tanjung Priok to Makassar, Indonesia. However, the 2006-bulit vessel caught fire in its engine room at around 08:40 h local...
Hapag-Lloyd pilots collaborative stowage planning system Hapag-Lloyd started to pilot a collaborative, cloud-based stowage planning system that makes stowage plans and cargo data available to vessels in port and to terminal operators. The software, XVELA, aims to reduce incidents of unexpected changes issued at short notice and waiting times for the shipping line and terminal. It provides...
US questions need for SOLAS container weight guidelines Long-awaited guidance on how the US will implement and enforce a new SOLAS amendment to rules on container weight verification may not get published, according to the US Coast Guard's top policy official Rear Admiral Paul Thomas, the agency's Assistant Commandant for Prevention...
Finance hopes shift from private equity to private debt With US capital markets shuttered to shipping and private equity in rapid retreat, alternative finance purveyors of 'private debt' are coming to the fore, experts have told IHS Fairplay. Prospects for raising common equity in the US market is effectively dead for the foreseeable future. "I don't...
Hapag-Lloyd warns customers to prepare for box weighing Containers without VGM will not be accepted, line says
Bleak outlook from Deep Sea Supply as OSV market worsens Company exits North Sea spot market through anchor handler sales
Container throughput growth in China falls to record low Handling at Shanghai down 5.8% in January
Swedish Club anticipates modest tonnage gain on 2016 renewals A 5% pick-up in gt expected at tomorrow's deadline, says marine mutual
Cheniere slumps to almost $1bn loss Cheniere poised to send out first US LNG cargoes in a matter of weeks
Shipowner groups support global CO2 reporting scheme by 2018 Collaborative ICS calls for IMO member states to think about setting shipping equivalent of Intended Nationally Determined Contributions
Box rates slump to new depths Feb 19, 2016: Widespread overcapacity pushes freight rates to lowest levels of 2016
Capital markets remain tough to crack for shipping, owners are told Companies urged to reach out more to investors in uncertain times
Data Hub: Trade Routes The introduction of ultra large containerships has seen capacity skyrocket on the Asia-Europe trade, with inevitable consequences for rates
Data Hub: Freight Rate Monthly Hopes of a turn in fortunes on the back of the final GRIs of last year diminish as spot market rates crash across the board at the start of 2016
Between the lines: Fuel efficiency - the hidden truth behind going green SeaIntel chief executive Alan Murphy examines and analyses the main industry drives and developments of the past month
Rickmers Maritime incurs $129m loss in 2015 Shipping trust takes $148m non-cash impairment hit last year
US shippers reiterate call for Solas changes Meeting with USCG and FMC over container weighing
China Cosco Shipping Group eyes top tier in global container shipping Chairman Xu Lirong seeks more market influence in global shipping sphere
Asia January sea robbery figures down from year ago Nine reported incidents last month compared with 11 incidents in January 2015, ReCAAP says
South Korea to build new passenger terminal at Pyeongtaek-Dangjin port New terminal to help handle increase in Chinese tourists
GasLog completes refinancing of six ships Refinancing encompasses all debt maturities for GasLog and GasLog Partners due in 2016 and 2017
Vale iron ore production increases amid price slump Iron ore majors ramping up production and cutting costs in battle for market share
Vallianz taps into Middle East Islamic bond market Bond issuance comes after subsidiary's refinancing exercise completed
Hyundai Group chairwoman buys $24m in new HMM shares Chairwoman Hyun Jeong-Eun and her mother receive 6m shares in total
US east coast 2015 box import growth tops west coast rivals West coast plays catch-up having resolved problems of congestion
Bonds proposed as alternative credit solution Said to work around the concerns buyers and sellers have about traditional credit terms.
Amendment to BDN text on sulfur ready for formal IMO approva New text for supplier's declaration to allow supply of high sulfur fuel to ships that use scrubbers.
Shipowners expect to use separate fuels for ECAs when global cap falls to 0.5% sulfur But price spread between 0.1% and 0.5%S product would be too small at today's oil price, says Cepsa.
Residual fuel oil stocks highest since 1993: EIA Bulk of the build came from the Gulf Coast.
Caribbean Panamaxes hit 20-week low on slow market, high tonnage Worldscale 2016 rates have dropped due to cheaper bunker fuel
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