Cruise sector heightens defences against cyber threat The focus on cruise cyber-security threats has never been greater. As part of a broader maritime initiative, guidelines for best practices were released by industry groups in early January and two IMO committees will address the topic in April-May. "We are in the midst...
Chinese vessel deliveries fuel global overcapacity Despite a global economic slowdown, 509 vessels of more than 10,000 gt were delivered from January to December 2015 by Chinese yards alone, according to IHS Maritime & Trade. Bulk carriers make up the lion's share with a combined gross tonnage of 13,565,128 across 331 vessels. Container ships came second...
China's top ports expand business in 2015 at a slower pace Throughput at China's top container ports expanded in 2015 but figures show a trend of slowing growth amid macroeconomic uncertainty and softer global demand for Chinese-made goods. Figures released by the Shanghai Shipping Exchange (SSE) show the country's 20 largest container ports handled just over 181...
Guangzhou Hangtong wins tanker pair China's Guangzhou Hangtong has secured a newbuilding contract for the construction of a pair of asphalt/bitumen tankers. The 7,800 dwt tankers are to be built for unknown domestic owners under hull numbers HT152203 and HT152205. Both vessels are scheduled for delivery in 2017. This latest order brings the yard orderbook to 34...
AET Tankers to see earnings reverse amid oil price fall The dramatic decline in oil prices and the resulting growth in seaborne oil movements would reverse two years of losses at MISC's tanker arm AET Tankers, according to a report by CIMB Securities. AET suffered annual losses of USD140 million to USD 150 million from 2012 to...
BIMCO warns of another tough year for global economy Shipping body BIMCO is warning that the current year could become challenging for the global economy and therefore maritime, although not all the indicators are negative. All eyes remain focused on China, because of uncertainty surrounding the development of the world's second-largest economy, said Peter...
Havila cancels bondholder meeting Havila Shipping, the listed Norwegian offshore services vessel owner, aims to find an agreement with its bondholders by the end of the month, despite cancelling a meeting with them scheduled for 20 January. The meeting had been planned to approve a restructuring plan...
Siem Shipping charters two reefer ships Norwegian shipowner and operator Siem Shipping has signed an agreement to charter two reefer ships for at least five years. The company said in an announcement that it has signed the lease with a Japanese shipowner. IHS Maritime's Sea-web data indicate the vessels are owned by Nissen Kaiun and the ships will...
Safety bungles behind man overboard from Hyundai Dangjin at Australian port Rio Tinto has banned the use of rope ladders for draught surveys at its terminals in Australia after an investigation into a man overboard from Hyundai Dangjin at the Pilbara's Port Walcott in July 2015. The Australian Transport Safety Bureau (ATSB) investigation into the fatality, released this week, also found the...
Relief for Aussie ports as strike action ends Disruption to Australian ports and shipping activity has come to an end, at least for now, as labour action at container terminals was suspended and a tug dispute that led to rolling stoppages over the last two weeks has been resolved. Svitzer Australia...
DAILY: Keppel remains in black despite headwinds Singapore-listed offshore services provider Keppel Corporation (Keppel) posted a full-year net profit of SGD1.53 billion (USD1.06 billion) for financial year (FY) 2015 amid depressed oil and gas market. However, the net profit declined 19% from net profit of SGD1.89 billion in FY 2014. Keppel CEO Loh Chin Hua credited the...
DP World launches Russia ports investment venture DP World Chairman, HE Sultan Ahmed Bin Sulayem and Russian Direct Investment Fund CEO, Kirill Dmitriev signing the term sheet to form 'DP World Russia'. Dubai-based port operator DP World launched a joint venture with the Russian Direct Investment Fund (RDIF) to develop marine, dry ports and logistics infrastructure in different...
Hazardous river ties up US Gulf shipping Fog, high water and fast currents are creating navigation hazards on the Lower Mississippi, tying up vessel capacity and threatening America's grain and energy exports. River levels are at or near flood levels between Baton Rouge and the Gulf of...
Golar partners with Schlumberger on FLNG Golar looking to expand its FLNG presence as traditional LNG shipping struggles
Farstad loses $5.5m on PSV sale Disposal of 2001-built Lady Grace is part of fleet development strategy, says company
Helmepa leader hailed as a naval hero by Greece and Cyprus Well-known maritime personality Dimitris Mitsatsos receives long-overdue medals for 1964 action
Capesize ticks up Higher spot activity and initial potential congestion due to port suspension at Tubarao in Brazil leads to slight rise
Capital constraints spell gloom for shipping borrowers, say top bankers Senior trio see trouble in store for 2016
CSCL predicts $426m red ink for 2015 Losses also include Yuan800m asset impairment on vessels and containers
China Merchants Energy Shipping expects $180m net profit for 2015 Su Xingang named new chairman
Downwards pressure on container freight rates resumes after brief uptick Little on the horizon to signal any end to supply and demand imbalances for several years
Iranian oil tanker leaves floating storage for Korean port Speculation abounds as to how much Iranian oil is in storage and its nature
OOCL's fourth quarter revenues decline 16% Volumes up in three of Hong Kong box shipping giant's four main trades, but down sharply on Asia-Europe
Safmarine appoints new UK head Gary Jeffreys to take lead as Maersk subsidiary moves from Felixstowe to Liverpool
Seattle and Tacoma ports throughput reach 3.5m teu for 2015 Volume growth boosted by international trade
Borouge and Maersk Line agree to cut carbon emissions Carbon Pact between the two inked as part of Abu Dhabi Sustainability Week
Port of Indiana-Mount Vernon sets new shipping record for 2015 Coal, agricultural products, steel and other bulk commodities all contributed to cargo volume jump
VLGC mooring for Virgin Islands power project gets the nod Approval is a milestone for long-running effort to convert to gas power from more costly fuel oil
Safe Bulkers completes refinancing of three vessels Refinancing frees up $19.5m in collateralised value of assets
Diana nabs 11-14 month newcastlemax charter Contract with RWE Supply & Trading will generate about $2m in gross revenues
Kinder Morgan terminals segment lifted by Jones Act tankers business Liquids terminals business accounted for 74% of terminals segment's 2015 earnings
VLGC rates little changed for Middle East to Asia route Rates to continue hovering in $50 per tonne range as west to east arbitrage window still shut
APM Terminals finalises Cartagena joint venture New terminal expected to handle vessels up to 13,000 teu
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