New Capesize pool highlights growing bulker trend When Capesize Chartering Ltd was born in February 2015, it was an information sharing-platform, not a pool. As of this month, it is a pool, the world's largest in the Capesize class. The story of how its four high-profile partners - Golden Ocean, Star Bulk,...
Navios tightens cost controls to weather slump NYSE-listed Navios Holdings has deferred payments on its two perpetual preferred stocks to further bolster its cash position and weather what it believes will be an extended slump. "We have adopted measures to reduce our cash requirements without having to sell off assets," said...
Hapag-Lloyd returns to profit German container line Hapag-Lloyd delivered on its promise to return to profitability after the integration of CSAV's container shipping business last year. Its preliminary unaudited results released today show operational earnings (EBIT) at EUR366.4 million (USD404 million) for 2015, against a loss of EUR382.8 million in 2014. The merged...
Safety the main focus for Singapore's MPA in 2016 Safety and training are two large areas of focus for the Maritime Port Authority of Singapore (MPA) for 2016. Speaking at a media briefing, Lucien Wong, chairman of MPA, highlighted that although the port of Singapore retained the 'Best Seaport in Asia' for the 27th time in...
HSH ship finance leader heading to DVB German state bank HSH Nordbank is losing its global head of ship finance, Ingmar Loges, to its Frankfurt-based competitor DVB Bank. The 52-year old will join DVB as co-division head of global shipping at its Amsterdam office as per 15 April. Serving alongside co-division head Frans van...
Data: Year-to-date newbuilding orders in freefall January and February 2015 were not great months for shipyards. Only 161 vessels of more than 10,000 dwt were ordered. By comparison, nearly 500 orders were placed in the same period in 2014, and 2013 saw 306 newbuildings registered by yards across the world in January and February. In the year...
NOL back in the black after logistics unit sale Neptune Orient Lines posted a USD707 million net profit for 2015 as the sale of its logistics unit lifted annual earnings by USD888 million, but collapsing freight rates in the fourth quarter and...
Container volumes surge at India's Vallarpadam port Container volumes handled by International Container Transhipment Terminal (ICTT) at Vallarpadam in Cochin port in southern India has exceeded last year's volumes, with 42 days still remaining for the completion of the current financial year (2015-16) on 31 March. Last year (2014-15) the facility operated by Dubai's...
'Business as usual' for struggling Japanese carrier United Ocean Enterprises Japanese tonnage provider United Ocean Enterprises, which filed for bankruptcy protection last November, has pledged to continue business as usual, according to its trustee. Lawyer Hajime Shinji has been appointed as trustee for the company, which received permission from Tokyo courts to begin reorganisation in December 2015. United Ocean...
China's crude imports expected to stay firm in 2016 China's oil imports, which hit a record 330.9 million tonnes in 2015, is expected to remain strong as the country continues to stockpile on crude, said Italian shipbroker Banchero Costa. Notwithstanding a slowdown in economic growth, China's oil imports hit an amount that could fill more than 1,100...
Maersk: breaking yard pollution tests needed 'for level playing field' Maersk will carry out soil testing as one of its first efforts to introduce an international standard of shipbreaking at yards in Alang, India, where Maersk plans to break its...
Hindustan Petroleum books VLGC Indian LPG trader Hindustan Petroleum has chartered-in the newly built VLGC Gas Taurus for two years, brokers have told IHS Fairplay. They said HPCL took the vessel, which is owned by Wideshine Enterprises, the parent company of LPG tanker operator Tianjin Southwest Maritime, for...
Chinese coal mine closures could help dry bulk market Plans to close large numbers of mines producing low grade, highly-polluting coal in China could turn into good news for the dry bulk shipping market in case this leads to a reversal of recent sharp decline in Chinese coal imports, shipping analysts at Arctic in...
Stop ordering, scrap more ships and wait, Cremers advises dry bulk shipowners Dry bulk shipping clients of Anglo-Eastern Univan Group are losing USD10,000-12,000 a day with no respite in sight, according to Peter Cremers, executive chairman of the giant ship management company. "If you have 20 ships, you need deep, deep pockets. Our clients are losing money...
Damen CSD350 to create 200 km inland waterway in Nicaragua Netherlands-based Damen Shipyards Group has sold a cutter suction dredger (CSD) 350 to Empresa Portuaria Nacional (EPN, the national port authority) and tourist agency INTUR that will create a 200 km waterway along a section of Nicaragua's Caribbean coast. The first Damen CSD bought by INTUR, it...
Comment: Troubled Tianjin port finds positives in second car market There has been scant good news from the northern Chinese city of Tianjin since the deadly explosions of August 2015 that resulted in loss of life and took a heavy economic toll including a dramatic fall in cargo throughput at the city's port. The automotive sector suffered badly from the...
BHP Billiton posts USD5.7 billion loss Global mining giant BHP Billiton posted on 23 February its first loss in over a decade, as commodity price slumps across all commodities wiped USD7.8 billion off company profits. In the miner's first half fiscal year 2016 (FY2016) report for 1 July to 31 December 2015,...
North loses further 2m gt in renewal round But club insists it is 'stronger' after 4% year-on-year gain
DVB poaches Loges from HSH Nordbank Industry veteran to relocate from Hamburg to Amsterdam
Fool me once, shame on you; fool me twice, shame on me Preferred shareholders of Navios Maritime Holdings will be disappointed at the news that their dividends will be suspended, assuming they heard it, says Lambros Papaeconomou
Supramax rates supported by Pacific trade Rates surge as Asian players return from the lunar new year holidays
Forwarder association calls for clarity on new box weight data requirements Fiata complains about alarming lack of information from shipping lines
Doubt cast on 'uneconomic' US crude exports IEA medium-term outlook dampens sentiment, but tanker owners try to stay upbeat
Evergreen succession battle heats up as group chairman's post is abolished KW Chang ousted by half-brothers and Bronson Hsieh no longer holds vice-chairman title
Navios defers preferred dividend payments Move will boost savings from shareholder payouts to $41m as bulker owner braces against 'unprecedented' market
Panama Canal warns of El Niño draught restrictions Unusual dry season could lead to restrictions on vessel transits from April
Matson profit slips but beats expectations US containership owner expects moderately lower volumes in 2016.
Brazil launches car carrier investigation Competition authority starts probe into nine ro-ro operators suspected of running 'international cartel'.
China's natural gas demand to grow 10% Crude imports will continue to grow, but more slowly.
FPSO outlook sours for Oslo-listed Bluewater Parent Aurelia sees annual floater results increase but braces for tough 2016.
Samos tipped to join capesize buying spree Inglessis family company said to have snapped up latest bulker bargain.
DSME assembles taskforce on ship orders Korean shipbuilder aiming to manage risks from contracts as losses mount.
Advantage ship released after Vafias seizure US lawsuit accuses Geden Lines of failing to redeliver, or pay charter hire, for CV Stealth.
Anchor-handler rates hit $140,000 per day Shortage of tonnage forces charterers to pay £100,000 and NOK 1m per day in North Sea.
Solvang reduces its share in VLGC Norwegian owner sells slice of vessel partnership company.
Navios sees green shoots amid red ink Angeliki Frangou finds some positives in unprecedented dry downturn.
North P&I Club pushes up tonnage by 4% Protection and indemnity firm says it has emerged stronger after "tough" renewal period.
Hapag-Lloyd reports strong operating result German boxship owner says it has reached its earnings targets for 2015 as CSAV deal pushed up revenue.
Yilport seals $330m deal for Tertir Yildirim Holding's subsidiary puts pen to paper for the takeover of 10 terminals in Portugal, Spain and Peru.
Filipino killed in fall on bulker 44-year-old dies after 13-metre plunge on Transmed vessel off Malaysia.
UK Chamber endorses Cameron's new EU deal Shipping's representative body says "Brexit" supporters should do more to explain its impact on economy.
First Ship Lease sees profit spike in 2015 Singapore-quoted owner's bottom line climbs despite slip in fourth quarter performance.
Hanjin 'eyes property and share sales' Korean shipowner reportedly lining up disposals of treasury stock and a London office building.
Ultrapetrol changes Nasdaq markets Buenos Aires-based owner says stock will now trade on Nasdaq Capital Market.
Chang's Evergreen succession feud boils over Rival offspring make their moves against late Taiwanese billionaire's legal heir Chang Kuo-wei.
Sale saves NOL from fifth loss in succession Huge gain from logistics deal brings first annual profit since 2010.
Yilport seals $300m deal for Portugal's Tertir Yildirim Holding's subsidiary puts pen to paper for the takeover of 10 terminals in Portugal, Spain and Peru.
Loges looking west in new DVB role HSH's former global head of shipping to head rival's western hemisphere operations from Amsterdam.
Mercator Singapore bulker heads to beach Ship lined up for sale sent for disposal in India.
Eagle Bulk secures a few extra days for talks Latest forbearance period runs until the start of March.
Sanoyas reveals bulker orders Japanese yard confirms six deals for dry cargoships in the last nine months of 2015.
Noble Group profit warning braces for loss Major dry cargo charterer has issued a profit warning due to weak coal prices and prospects for the commodity.
Nord/LB, Offen team up on loan restructuring German bank and owner form joint venture with Caplantic to entice institutional investors into shipping.
Reach exceeds expectations with small profit Norwegian subsea shipowner stays in the black despite falling rates in challenging offshore market.
Noble Group expects to post Q4 and full-year losses Major dry cargo charterer has issued a profit warning due to weak coal prices and prospects for the commodity.
McDermott looks to tap Indian market with joint venture Tie-up builds on collaboration that saw duo win Vashishta Deepwater Greenfield development.
Yard group Austal sees mixed demand picture Australian shipbuilder points to European enquiry but Middle east slump as it reports lower first-half result.
Swiber obtains consent on covenant amendments Singapore-listed offshore-focused contractor latest company to see financial constraints eased.
Novorossiisk: Rail delays prompt firmer fuel prices Could last to mid-March, sources say.
Ecoslops raises capital to expand production of marine fuel from ships' oily waste Aims to accelerate production of the recycled fuel at a variety of locations throughout the EMEA.
Development of IMO in-use sampling guidelines hit snags Seen as 'incomplete' without dealing with sulfur verification aspect; safety concerns raised.
China Shipbuilding Industry transfers unprofitable units to parent CSIC is one of China's largest shipbuilding and ship repair groups.
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