Does shipping even belong on Wall Street? In shipping's Wall Street 'dream', blue-chip sector consolidators boasting multibillion-dollar market capitalisations and massive trading volumes rise to the fore. Public shipowners are far fewer and vastly larger. The industry's stock is coveted by America's most powerful long-only investment...
Seaman Guard Ohio guards await bail decision Six maritime guards from the floating armoury Seaman Guard Ohio are awaiting a ruling on their bail hearing, held today (24 February) in India. The ship was impounded in October 2013 and its crew and armed guards detained for allegedly entering Indian waters with illegal arms without appropriate permission. Reverend Ken Peters, director of...
US exporters seek SOLAS rule delay US exporters fear there may be major disruption to their supply chains if a new SOLAS container weight rule goes into effect on 1 July. However, regulators argue that delaying the rule in the US could place international shipping at risk.An amendment to the SOLAS convention, adopted by the International...
Company profile: Fednav stays course on fleet Federal Navigation (Fednav) has decided to turn a blind eye toward choppy economic seas for bulker companies and sail on with plans to renew its fleet. "We're pursuing an organic growth strategy," co-CEO and president Mark Pathy told IHS Fairplay. That...
Appetite wanes at shipping banks Shipping banks are pulling back on loans amid rising market turbulence and heightened regulatory pressure, according to bankers speaking at the Hellenic-American/Norwegian-American Chambers of Commerce Shipping Conference. "There has definitely been less appetite after the last month or two," said AMN AMRO North American shipping head Francis Birkeland at the New...
USCG updates Ballast Water Management System information In a new notification, the United States Coastguard (USCG) has clarified its current position on ballast water management system type approvals, and has outlined some challenges with the process. To date, multiple systems have been submitted to the independent...
Wave of debt swamps Korean carriers Consolidation or bust? That could be the question facing the two giant South Korean carriers, Hyundai Merchant Marine (HMM) and Hanjin Shipping, as they begin to buckle under a crushing liquidity crisis.While it is unlikely Seoul will allow the lines to fail, there will be no good news coming out...
Dredging: Don't be that rabbit in the headlights! If you were approached by a TV crew and asked to explain to a live broadcast why the dredging project you were engaged on was important, what's the first thing you would do? Exactly. You'd freeze. You'd forget everything you ever knew about dredging. You'd resemble the proverbial rabbit in...
Salalah banks on bulk After a record year for bulk exports in 2015, Port of Salalah has added further capacity and set ambitious growth targets for this year. The port is focusing on import-export general cargo to make it more attractive to...
Multimillion-dollar investment to double India's Sapangar Bay box capacity Sapangar Bay Container Port (SBCP) in Sabah, Malaysia, is to lengthen its quay from 500 m to 1.2 km and increase its yard from 15 ha to 60 ha under an expansion project that will more than double handling...
DNV GL's Svensen to retire DNV GL group president Tor E Svensen is to retire later this year, the classification society has announced. DNV has gone from strength to strength during Svensen's tenure. Its tonnage has expanded by 144% since 2004, before Svensen took the helm in 2006. In 2004, IHS figures suggest DNV's fleet totalled about...
Korea broadens incentives for companies at Saemangeum port The South Korean government is extending its incentives for companies that set up a presence around Saemangeum New Port, on the southwestern coast of the Korean Peninsula, as part of its strategy to revitalise the area. The Ministry of Land,...
Marine insurers remain wary of Iran risks The maritime market's ability to do business with Iran continues to be hampered by insurers' fears over remaining US and European sanctions. While the Japanese government has expressed its willingness to renew the USD8 billion of insurance cover for its nation's...
PNG shipowner may face charges over second ship disaster Peter Sharp, a shipowner facing charges over the sinking of Rabaul Queen in 2012, may also be charged over the loss of Kimbe Queen last year, according to police in Papua New Guinea (PNG). Police are alleging Kimbe Queen's crew were drunk when it...
Hanjin Shipping mulls more asset sales Hanjin is currently headed by Korean Air boss Cho Yang-hoHanjin Shipping said today that it is considering selling more assets to boost its liquidity, as it has KRW500 billion (USD406 million) of debts that have to be repaid within 1H16. South Korea's biggest shipping company said in a Korea Exchange filing...
APMT opens free medical centre for Mumbai truckers Global terminal operator APM Terminals has opened a medical centre with an in-house doctor to provide free diagnosis, basic medical assistance, and medicines to the outside truckers who serve India's largest container port, Nhava Sheva, at Jawaharlal Nehru Port (JNP) in...
Damco turns the corner, cautiously optimistic for 2016 Freight forwarding company Damco has returned to a full-year profit in 2015 and is cautiously optimistic for 2016. The Netherland-headquartered firm posted a profit of USD15 million for the financial year 2015 against a loss of USD225 million in 2014. However, Thomas Knudsen, CEO of Damco Asia region, told IHS Fairplay that despite...
Vancouver sets its sights on attracting shipping firms City's growth and potential as a location for global shipmanagement result from strategic long-term public policy decisions
Navios says liquidity now sufficient 'through 2017' Owner reports NYSE non-compliance notification after outlining more measures to combat tough market
Cheniere reportedly sends first LNG cargo to Brazil Brazil is currently the most profitable destination, and US cargoes are destination-flexible
Panamaxes start to slide again Availability of vessels outweighs South American inquiries
IM Skaugen slides $4.9m into the red for 2015 Gas carrier owner focused on small scale LNG ambition, but it is 'not there yet'
Navios expects scrapping to drive dry bulk recovery Lay-ups 'not huge' and less of an influence, says Angeliki Frangou
London Club loses members on renewal round Terms not agreed with some owners, says Gooch
Supreme Court to take OW Bunker case next month Hundreds of owners will be watching expedited hearing granted to Product Shipping & Trading
Klaveness chief expects years before dry bulk recovery Company will focus on niche combined carriers and developing digital solutions
Anglo-Eastern Univan Group faces challenging 2016 But merger will help combined company better weather industry storm
Solstad Offshore swings to loss for 2015 on impairment charges Company expects dismal conditions for the offshore vessel market to be prolonged
Matson 2015 results lifted by ocean transportation segment Company expects to see strong 2016 operating results albeit not at 2015's record levels
FSL Trust reports 14% year-on-year revenue rise Company saw improved charter rates for its tankers
Port of Oakland approves Outer Harbor Terminal lease termination Terminal operator will pay additional $5.1m for cleanup and repairs
Two injured in general cargoship collision Wijnne & Barends ship hits boats and pontoons in River Nene in the UK.
Martin Midstream hikes shipping profit Texas conglomerate sees annual operating income rise by 40% for tug-and-barge fleet.
Suezmax tanker spot market rates slump Europe catches up to retrenching West Africa rates; average TCE down 22% on week.
US entrance to shift LNG market dynamics Gas executives see the beginning of US LNG exports as making more flexible global market.
CMA CGM cools talk of pending mega order French line says it is not in talks with yards for ultra-large containerships.
GMS's Sharma defends beaching in India Chief executive of largest cash buyer of demolition tonnage criticises proponents of sweeping ban on practise.
Icebreaker goes aground in Antarctica P&O vessel stuck off Mawson Station after high winds break its moorings.
Oil proving a drain but Fredriksen still big fish Bloomberg says offshore woe has dragged down shipowner's fortune but salmon company is swimming ahead.
Matson mulls newbuilding move US container line could order two containerships after it posted record 2015 financial results.
Island Offshore agrees debt extension Norwegian offshore owner also reveals shareholders are pumping in fresh equity to combat sector downturn.
DP World expands flagship Jebel Ali port Dubai-based company adds capacity to important hub and claims it will change the way ports work.
Houston and Souki team up at Tellurian Seasoned LNG duo make venture official but under a new name - Tellurian Investments
Souki and Houston team up at Tellurian Seasoned LNG duo make venture official but under a new name - Tellurian Investments
Spoof advert highlights lack of Canada/US ferry Classified listing offers $47m for much-needed ship to run between Yarmouth and Maine.
MISC splashes $445m on FPS stake Cash-rich Malaysian owner buys back 50% stake in production unit sold to parent in dark days of 2012.
Newbuildings booked in 2015 show $4bn loss Data reveals ships contracted last year have seen huge sums wiped off their value - and not just in dry bulk.
New ro-pax run for Russia Trans-Exim starts service with veteran ferry to Sassnitz in Germany.
POSH wins five long-term deals worth $85m Singaporean owner secures employment for four newbuildings and one AHTS in the Middle East.
Hanjin goes for high-interest 30-year bonds Korean shipowner trying to raise $178m through debt sale; also selling trademark rights.
Qatar Navigation pushes up 2015 profit Milaha grows earnings as products tankers and gas carriers contribute the most.
Caspian Shipping eyes tanker, bulker orders Azerbaijan national owner considering moving for slots at domestic Baku Shipyard.
IM Skaugen slices fourth quarter loss Cut in administrative and legal costs boosts Norwegian gas carrier owner in "challenging" market.
Hyundai Heavy Industries makes weak start to 2016 World's largest shipbuilder saw $545m in new orders, but none of them in shipbuilding.
Navios Maritime warned on share price Greek owner says it will "cure deficiency" after notification by New York exchange.
Moody's downgrades Noble Group over liquidity fears Ratings agency says trader's finances will remain constrained until it refinances bank facilities.
Vessel impairments dog Solstad Offshore results Declining asset values and weaker currency take their toll at Lars Peder Solstad-led company.
Offshore slowdown set to hurt Ezion Holdings results Group expects challenging and uncertain market conditions of the industry to be prolonged.
Oil futures rise on EIA weekly inventory report; contango steepens Oil futures rallied Wednesday after US Energy Information Administration data showed draws in gasoline and distillate stocks.
Buenos Aires HS bunker fuel at $200/mt as power sector claims fuel oil supplies Buenos Aires high-sulfur bunker fuel prices rose to $200/mt Wednesday on tighter supplies.
US DATA: EIA says fuel oil imports lowest since Aug 2002 Slump 86% week on week.
RUSSIA DATA: January fuel oil exports fall 24.7% year on year Due to weak export margins and reduced throughput on poor refining economics.
ICS gets behind CO2 reduction target for shipping Wants IMO to develop 'intended' target in same way as developing countries will do under Paris Agreement.
Shipping organizations call for IMO to implement mandatory fuel use collection Want system in place in time to preempt EU MRV.
Barge congestion persists in ARA products market Amsterdam seeing the most delays.
South Korea cuts natural gas rates 9.5% on lower LNG import bill Second cut this year after rates fell 9% in January
US Coast Guard to assess ECA compliance through voluntary sampling program Ships participating won't be sanctioned for non-compliant samples, but suppliers' administrations may be alerted.
Bunker shift to MGO to strain refiners, product markets: IEA Global cap in 2020 will see 2 million b/d of marine fuel demand switch from residual fuel oil to MGO, says forecast.
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