Japanese pull dry S&P candidates from market Japanese owners are withdrawing bulker sales candidates from the market because they are unwilling to face the painfully low prices that currently prevail, even though many charterers are keen to find ways to reduce their dry losses and exposure to the spot market. For...
Daniamant acquires Jotron Lifebuoy and Lifeboat Light business Daniamant is delighted to announce that it has acquired the SL-300 lifebuoy light and the SL-400 lifeboat light from Jotron AS, located in Norway. Jotron AS is a private limited Norwegian company with more than 45 years of continuous operation in international markets, with an aim to make high performance equipment...
Dry bulk depression could hasten recovery, claims analyst This year will be even more painful for dry bulk owners than 2015, which could actually be a positive in terms of bringing forward an eventual recovery, according to JP Morgan analyst Noah Parquette. In a new research note, he explained...
Floating storage on the rise A newbuilding very large crude carrier (VLCC) and a Suezmax tanker have been chartered to ship gas oil to Europe from Asia, fuelling speculation that the industry may see the first return to floating storage in nearly six years. The VLCC Alice, with capacity to hold more than 260,000 tonnes of...
Marine insurers wary of increasing piracy risk Marine insurers are set to engage with shipowners and charterers over what it sees as a rising tide of piracy across the world. Underwriters are increasingly concerned that the maritime market is letting its guard down over the issue,...
Tanker S&P market remains active The tanker sale and purchase market remains busy, although not all players appear fully confident of the medium-term future. While Cargill last week announced the closure of its London freight operations, Glencore has made known its willingness to dispose of directly-controlled tanker tonnage. Its tanker-operating subsidiary Topley...
IBIA expands in Asia to support 'unprecedented level' of industry challenges The International Bunker Industry Association (IBIA) is expanding in Asia with the appointment of a regional manager to assist with growing challenges. Simon Neo, who has held many senior management roles and has over 30 years of oil and shipping industry experience, will be taking...
Scandinavians retain positive outlook for crude carriers Shipping analysts in Denmark and Norway retain a positive outlook on the crude carrier market despite a recent fall in spot freight rates from six digit highs and some note that shares in listed tanker owners should see a rebound as a result. Prudent owners and operators...
More Chinese and Japanese tankers to lift Iranian crude Now that sanctions on Iran have been lifted, it is likely that Chinese-owned and Japanese-owned tankers will be used for a big chunk of Iran's exports to the Far East, according to a report by Italian shipbroker Banchero Costa. The three largest buyers of Iranian...
China-invested Colombo terminal doubles throughput with mega-vessels Colombo International Container Terminals (CICT) more than doubled its container throughput in 2015 as investment in capability to handle the world's largest container vessels appears to be paying off. The China Merchants-invested CICT handled 1.561 million teu in 2015, an increase of more than 118% on...
South Korea invites tenders for port development South Korea's Ministry of Oceans and Fisheries is inviting tenders to develop the country's ports under public-private partnerships. Accordingly, land parcels will be allocated under this scheme, which seeks to attract the participation of manufacturers and logistics companies. The government and respective port authorities will allocate...
H-Line Shipping could consolidate position with HMM acquisition H-Line Shipping, the outfit controlled by South Korean private equity firm Hahn & Co, would consolidate its position as the country's second-biggest owner of dry bulk carriers if it buys Hyundai Merchant Marine's 14 bulkers. IHS Maritime & Trade Sea-web data shows that H-Line currently has 32 ships, including 26 bulkers....
Cargo ship collides and sinks off Myanmar A cargo ship collided with an anchored tanker and sank off Yangon, Myanmar, during poor weather conditions on 25 January.The Vietnam-flagged general cargo vessel, Dong Thien Phu Silver, with IMO number 9492854, was sailing through the Gulf of Martaban, around 40 n miles south of Yangon. When the weather deteriorated,...
Tianjin restructures chemicals sector with closures and relocations Tianjin will spend USD4.4 billion to relocate two large chemical plants this year after the conclusion of safety checks following the deadly explosions that took place in August 2015. The Tianjin Chemical Plant and Tianjin Dagu Chemical Plant, which are currently located in a densely populated residential area, will be moved...
Vale given go-ahead to restart activities at Tubarao port Court overturns last week's decision to halt activities at the iron ore export and coal import terminals
Farstad reflags PSV for four-year Petrobras charter Offshore supply operator avoids future blocking with flag change
ECA has negligible effect on port of Kiel cargo volumes Sulphur cap fears allayed as ferry business maintains 2014 throughput level
London Gateway wins Maersk call at expense of Tilbury DP World facility gains fourth service from UK rival since inception
Stena Bulk takes delivery of newbuild MR tanker IMO II Max tanker Stena Imperative built by CSSC OME
Chinese yards in talks with Iran for new orders CSSC OME has dispatched its senior managers to Tehran
Suezmax rates weaker in West Africa and Black Sea but stronger in Middle East Aframax market lacklustre but could receive Iranian support
Aframax tanker fixed on time charter with option to load Iranian cargoes Glencore unit said to have booked Green Warrior for 60-90 days at $40,000 per day
Mission to Seafarers sets up new digital centre for North America Co-operation will enhance Seafarers' welfare
Euronav buys back own shares as tanker stocks stay cheap Crude tanker player spends $5m on 500,000-share buyback
US east coast ports expect further delays Heavy snowfall disrupts vessel traffic moving through the southeast, mid-Atlantic and northeast
Oakland braced for $36m hit from Ports America departure Port to lose a quarter of its revenue as terminal closes operations
HHI takes Sembcorp Marine's place in MOU with Saudi giants Previous agreement to explore development of shipbuilding facilities in the Kingdom between the Singapore builder, Saudi Aramco, Bahri and Lamprell expired in October
China slowdown dents Eurogate traffic Volumes fall 2% in 2015 to 14.5m teu as Chinese exports waver
Tom Boardley promoted at Lloyd's Register Nick Brown takes marine director position as Tom Boardley is promoted to newly created position
Ezra Holdings picks new interim chief financial officer UPDATE: Chan Eng Yew takes over from Eugene Cheng Chee Mun who stepped down for personal and family reasons
Tanker demand to remain strong into 2016 winter, says BIMCO But the end of crude oil stockpiling and passing of the winter months could curtail tanker market rates
Energy demand for commercial transportation to grow till 2040 Aviation, marine and rail to be fastest growing sub-sectors
Gulf Drilling orders two more rigs from Keppel FELS GDI has taken delivery of five such rigs from yard so far
Investment arm of Canadian property developer acquires 8.65% stake in Scorpio Bulkers GRM Investments joins the ranks of Scorpio's largest shareholders which include Wellington Management, Monarch and Kensico Capital
Noble Century buys pair from compatriot But deals see Chinese owner sell older ship to Guangdong Tongcheng.
Spain evacuates crew from Cido car carrier Helicopters responds to distress call from ship off A Coruna; video footage shows severe list.
Spain responds to SOS from Cido car carrier 22 crew members pulled from ship suffering severe list off A Coruna.
Top owners: don't fear tanker orderbook Trio of leading executives believe strong tanker market has legs.
Court reopens door to Prestige liability More than 13 years after oil spill, Mangouras hit with prison sentence and London P&I Club cited for 'direct civil liability'.
Coast Guard sets hearing for El Faro Board to explore whether there is evidence of negligence or misconduct in sinking.
Fincantieri to build vessels with Iran Italian group signs $100m-plus cooperation deals with new ISOICO plant; will also supply ship engines.
Safe Bulkers pushes back more payments Danish Ship Finance deal refinances $44.9m in credit facilities.
AHTS spot deals drop to zero No anchor-handlers currently working short-term in the North Sea as tonnage lists swells.
Petrobras hires two Farstad-owned vessels Brazilian oil major signs contract for Norwegian vessels, one of which was intended to be cancelled.
Wells Fargo Securities downgrades Dorian Energy market chaos and potential change in dividend path lead to lower rating.
Royal Caribbean gives Haiti a wide berth US owner's Vision of the Seas skips Caribbean port call due to unrest.
Bimco blames delivery glut for boxship woes But shipping association says 2015's "astonishing" fleet growth should lessen this year.
Greathorse purchase rumours stumble Sources pour cold water on reports Idan Ofer-backed Eastern Pacific has sold chemical tanker.
Chinese slump dents Eurogate's 2015 volumes European terminal owner posts a 2% decline but does well on the mega-boxship side.
Gulf Navigation raising $25m through bond issue Dubai tanker owner also working on business plan to generate shareholder value.
Euronav fixes newbuild amid share buyback Tanker owner tops up on its own stock as former Metrostar VL finds work.
Crew saved as ship sinks after clash All 14 seafarers rescued as Vietnamese vessel goes down following collision with tanker off Myanmar.
Greathorse jumps on Eastern Pacific resale Chinese owner said to have bought chemical tanker from Idan Ofer-backed company.
Temasek linked to more asset sales after NOL deal Singapore holding company considering non-core disposals linked to Keppel and Sembcorp.
Vale ore carrier set for demolition in Bangladesh Brazilian miner understood to have scrapped one of its 1980s built bulkers.
Concordia locks second P-Max in time charter Kim Ullman-led company secures "good income" for its tanker with fresh one-year deal with UK company.
JP Morgan: Worse dry market is for the best Noah Parquette explains paradoxical gains to be made from battered bulker market in 2016.
OSG settles for less in bond buy-back US tanker owner to purchase $294m of 2024 notes - 43% of outstanding amount.
Indian owners want to carry 25% of imports Domestic shipping companies request guarantees over crude, LPG and bulk cargoes.
Greece facing new 48-hour crew strike Action by crew unions to disrupt ports like Piraeus and Eleusis from Wednesday.
Stena to scale back investments in face of downturn Dan Sten Olsson says Swedish shipowner faces rocky 2017 due to drillship exposure.
TOTE agrees to pay $5m to El Faro families Families of ten of 33 crew members on sunken ro-ro to receive $500,000 each.
New regulations prompt Rotterdam green fuel surge More stringent sulphur requirements for shipping in the North Sea have driven up demand.
Ezra chief executive lifts stake in company Boss of troubled offshore vessel operator spends over $40,000 to increase shareholding.
US seizes cocaine on Royal cruiseship Authorities detain seven people after 11 kilograms discovered on Jewel of the Seas.
TOTE receives 2nd LNG-powered container ship ahead of schedule Will join sister vessel that is already in service next month.
Platts Pre-Report Survey of Analysts' EIA Data Likely Crude Oil Stocks Build of 3.5 Million Barrels.
Hellenic sees no change in HSFO output amid Iran crude flows to Greece: source Greece will source aa quarter of its crude imports from Iran.
India: Vessels in cabotage trades need bunker tax boost Proposal being considered by finance ministry.
Aramco to explore feasibility of new maritime complex in Saudi Arabia The quadripartite MOU involves Saudi Aramco, Bahri, Lamprell Energy Ltd. and Hyundai Heavy Industries.
Greek port workers' unions call for 2-day strike from Wednesday on labor issues Strike to start 6 am local time (0400 GMT) Wednesday and end at the same time on Friday.
Cockett Marine Oil appoints senior supply trader at Florida office Frank Ray joins the trading team as senior supply trader.
Wartsila, Cavotec to develop wireless charging, mooring for vessels System will be capable of transferring more than 1 MW of electrical energy.
FUEL FOR THOUGHT: How quickly can Iran get its oil groove back? IEA believes Iran has made considerable progress in readying its oil network.
US Northeast bunker operations resuming after storm restricts barge traffic Two-feet high snow along the Eastern Seaboard and coastal flooding seen over the weekend.
Oil complex turns lower as OPEC producers signal more output NYMEX March crude settled down $1.85 at $30.34/b.
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