Is the dirtry tanker party over? One problem that shipping faces is that forecasts and opinions can be taken out of context by players seeking to portray a particular story. For publicly listed tanker owners, this is resulting in some...
Asian maritime community calls for single regional emergency hotline The maritime community has called for a single emergency hotline to improve distress communications among the port reporting centres scattered across Southeast Asia. "Sometime when the ship is in distress, there are lots of numbers in the bridge for the master or...
Sovcomflot yearly profit leaps on firm markets and lower expenses Sovcomflot, the Russian tanker shipping company, has reported a strong rise in net profit for 2015 on the back of firm freight markets and wide ranging reductions in costs. Group net profit rose to USD345 million in 2015 from USD83.9 million in the...
New heavy-load ship set for Russian Arctic Signifying an important new stage in the development of heavy-load marine transportation, the first of an generation of Arctic-going, modularised cargo carriers is set to enter service with the Dutch company BigRoll Shipping. Capable of loading modules, plant and equipment weighing 10,000 mt over the stern,...
VLCC market continues good performance in seasonally weak period Spot freight rates in the very large crude carrier market fell last week, but they remain on a high level given that March and April are usually a weak season in the...
Expert warns liquefaction rules still not implemented A leading expert on liquefaction has told shipowners and marine insurers that incidents involving the liquefaction of nickel and iron ore cargoes should be a thing of the past. Daniel Sheard partner and consulting scientist with marine scientific and technical consultants and surveyors, Brookes Bell...
Ship safety hit by economic downturn, says report As shipping losses continued their long-term downward trend, one marine insurer has warned the tough economic conditions are having a negative impact on ship safety. There were 85 total losses reported worldwide in 2015, according to Allianz Global Corporate...
Dry bulk scrapping gains pace in early 2016 With no signs of an imminent improvement in the Baltic Dry Index, the first two months of the year has already seen 107 bulkers being scrapped, up from the 81 bulkers scrapped in the same period in 2015. From January to...
Hanjin Shipping vows all-out effort to normalise operations Hanjin Shipping's management has pledged to shareholders that it will do its utmost to reform and change the company's operations as it works towards paying off debt and normalise operations. To do this, Hanjin Shipping plans to continue with intensive cost-cutting measures, while executing rationalisation of its...
Oil logistics unit drags down revenue at Bolloré Paris-listed Bolloré Group, which holds 21 port concessions worldwide and operates 14 container terminals in Africa, announced a 2% drop in revenue for 2015 to USD12.2 billion. The decline was due to a 20% drop in turnover at the company's oil logistics segment to USD2.5 billion. The transportation...
Majority of Hyundai Merchant Marine shareholders approve stock consolidation An overwhelming majority of Hyundai Merchant Marine's shareholders has approved the company's plans to consolidate its stocks to reduce its capital in a 7:1 ratio, helping the massively indebted company to move on with its self-help...
Chinese yards new orders down 75.1% in January-February Chinese shipyards have received 0.95 million dwt in new orders during the first two months of 2016, plunging 75.1% year-on-year (y/y), showed data released by China Association of the National Shipbuilding Industry (CANSI). The output of newbuildings at Chinese yards stood at 4.2 million...
Chevron announces maiden shipment from USD54 billion Gorgon LNG project Chevron Australia announced on 21 March its first LNG shipment out of the USD54 billion Gorgon project - one week behind schedule. Carrying the 101,427 gt shipment from its 4.2 km jetty and offloading facility at the Barrow Island refinery...
Qingdao port profit up 20% y/y in 2015 Hong Kong-listed Qingdao Port International posted a profit of CNY1.9 billion (USD294 million) for 2015, an increase of 20% year on year. The company recorded a revenue of CNY7.4 billion, up 6.7% y/y, and its earnings per share...
Don't wait for clarity on box weight rule before preparing, warns Inttra Compliance with the new container weight verification rule that will be imposed on July 1 is beginning to crystallise around two key points for shippers: What is the carrier cut-off time for submission of the verified gross mass...
Sovcomflot quadruples profit for 2015 Long-term contracts shelter offshore and LNG operations, while tankers benefit from spot exposure
Data Hub: Trade Routes Trade between Europe and North America grew in 2015, but the rate of growth is slowing and lines could soon face troubled waters
Data Hub: Trade Statistics European exports of beverages to North America the brightest spot as stronger dollar cheers demand
Passing of Tom Leander Lloyd's List Asia editor-in-chief dies, aged 61
Weighing the choices As the interface between carriers and their shipper customers, container terminals will have to make choices ahead of the implementation of container weighing rules
Our Lloyd's List Awards: Why pedigree and impartiality are a necessity We seek diversity, excellence and knowledge, and we seek authoritative credibility and standing in the industry
Buy high, sell low Monarch aborts its largest wager in a public shipping company at a loss of $156m
Limassol port faces disruption from pilots' strike Action taken to protest against terms of privatisation for Cypriot hub
Hanjin Shipping to introduce express China-US west coast service South Korean carrier to start new service from May 24
COSL resumes rig operation with Statoil COSL Promoter resumed operations in the Troll field in the North sea after negotiations with Statoil
Farstad appoints bank advisers to strengthen finances Liquidity reserves at $195.2m as of start of 2016
Analyst sees intra-Asia as bright spot in container trade OOIL best bet to benefit from robust intra-Asia trade, Jefferies says
Chevron ships first LNG cargo from Gorgon Project Cargo will be transported to Chubu Electric Power on board the Asia Excellence LNG carrier
India ports and shipping sector could create 10m jobs over next five years Authorities intend to attract more private and foreign investment to ports and shipping sector
Better off where? The integration of Europe as a federal superstate might be described as a grand plan, but it is one that cuts across all our human inclinations
MLP review raises concern over long-term prospects Quarterly review of master limited partnerships shows a lot has changed due to low oil prices and sluggish growth prospects in the broader midstream sector
Diana Shipping ranks at top of US-listed dry bulk firms Greek owner's conservative strategy pays off as rates fall to record lows
GasLog sees strong fundamentals ahead Finance chief says spot market should recover soon and term-charter rates still holding.
Buy shares not ships, Wilbur Ross counsels Billionaire investor asks fellow owners to lay off on speculative newbuilding orders in crude sector.
US admiral: talent key to cyber defence Coast Guard commandant expresses concerns over digital dangers in the Arctic.
First VLGC loads at US East Coast LPG dock Exports from the Marcus Hook complex set to grow as more capacity added.
Sovcomflot positive on tankers, upbeat on Gorgon Nikolay Kolesnikov says tanker market upturn has time to run, while new Chevron shipment should help improve sentiment in LNG.
MPC Capital selling new shares Hamburg asset manager boosts capital with new $2.5m private placement.
Paragon swaps 18.8% of notes for shares Only a fifth of troubled company's bondholders exchange debt for stock in sweetened offering.
GS and Red Box win Yamal contract Sino-European alliance signs deal that will see a modern vessel carrying modules to Russia's LNG project.
Crew errors sped spread of ship fire Australian report finds livestock carrier blaze exacerbated by open cabin and stairwell doors.
Woolim orders chemical tanker trio Korean owner heads to compatriot Yeunsoo Heavy Industry for 6,600-dwt ships.
Iraq ships out first ever gas cargo Shell and Mitsubishi JV export condensates on Panama-flagged ship.
Grimaldi Group linked to Genting fast ferry Italian shipowner believed to have paid more than $72m for Asian shipowner's Bimini Superfast.
Sovcomflot stacks up profit in 2015 Russian owner sees strong tanker market and growing gas fleet power bottom line.
Evergreen heir gives up succession fight Balance of power rests with half-siblings as late founder's son Chang Kuo-wei replaced as director.
Gibraltar planning new bunker hub Government seeks bidders to build 225,000-cbm fuel and storage plant.
Wartsila to equip 27 Maersk boxships Danish giant signs deal with Finnish group for integrated control systems on newbuildings.
HMM files for creditor co-management Loss-making Korean owner reportedly reaches agreement on loan restructuring.
Gotland boosted by tankers in 2015 Swedish owner also attributes higher annual profit to ship sales.
Hyundai Merchant 'signs debt deal' Korean owner reportedly reaches agreement on loan restructuring with creditors.
Songa makes $65.8m claim against DSME Norwegian company adds another filing in the long-standing legal row with South Korean yard.
KDB to give $1.2bn for big boxships Korean bank signs MoU with four other financial institutions in order to help local liner companies.
Iran P&I cover deal agreed Reinsurance deal to support resumption of Iran trading agreed by the P&I clubs.
Allianz warns on ship maintenance Economic pressures should not result in a 'put it off until later' mentality.
SCI stays cautious on new ship orders Indian state owner has lined up only $105m of investment in next financial year.
Hanjin Shipping goes express to China Korean owner using five 4,000-teu ships between the US and Shanghai.
Dutch ports to appeal against EU tax decision Group says payment of corporation tax will come at the expense of investments in facilities.
Tanker demo may not kick-off until 2020 After several years of robust investment in new tonnage fleet has a decidedly youthful look.
First Chevron Gorgon LNG cargo departs for Japan US oil major says milestone underscores its commitment to growing its LNG business in Asia.
PSA International profit slips almost 10% Lower volumes and higher depreciation costs take their toll at Singapore port operator.
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