Appeal court overturns MyFerryLink Dover ban Eurotunnel-affiliated ferry operator MyFerryLink has been given leave to continue operating in the Dover Strait after a new about-turn in its battle with the British competition authorities. The Court of Appeal in London this morning upheld an appeal against a UK Competition and Markets Authority
HMM posts first operating profit since 2010 Hyundai Merchant Marine has posted its first quarterly operating profit since 2010. On 15 May, HMM, South Korea's second biggest shipping company, said it had a KRW4.2 billion (USD3.86 million) operating profit for 1Q15. Operating profit refers to the earnings from the company's core business and
NGOs criticise APAC reaction to Rohingya crisis Regional governments in Asia Pacific are increasingly concerned at the arrival of Rohingya refugees fleeing from Myanmar; nevertheless, NGOs have criticised their approach. The refugees have arrived in fleets of up to 25 vessels, only to be turned back by Thai and Malaysian navies. In a sign of
Norwegian owner and crew indicted in US DSD Shipping and four crew members have been charged in the US with MARPOL and other violations. The seven-count indictment, returned by a federal grand jury on 13 May, includes conspiracy, obstruction of justice and witness tampering. The indictment alleges that Stavanger, Norway-based DSD and
Evergreen, COSCO, CSCL launch CSX service Taiwanese Evergreen Marine Corp announced that it will partner with COSCO and China Shipping Container Lines (CSCL) in launching a joint China-Surabaya Express (CSX) Service. In its 15 May announcement, Evergreen said four 2,000-2,700 teu ships will be deployed for this service; one each provided
UOB Kay Hian: 'Sell' for Nam Cheong Singapore-based brokerage house UOB Kay Hian has recommended investors to sell offshore services provider Nam Cheong's stocks in view of its lower net profit and weak business outlook. Analysts from UOB Kay Hian have set a target price of SGD0.28 (USD0.21), while the Singapore-listed Nam Cheong's
Precious Shipping posts $10m loss in 1Q15 Thai dry bulk shipping company Precious Shipping has reported a consolidated net loss of THB335.69 million (USD10 million) in its first-quarter 2015 results. This contrasts sharply with a net profit of THB139.62 million in 2014. Precious identified a few main reasons for the reversal in a filing
COSCO, APM Terminals, ICTSI to bid for Piraeus port Greek government has invited three companies to submit binding bids by September for a 51% stake of the country's largest port Piraeus, according to Chinese media on 15 May. The three potential buyers that are interested in buying the Piraeus port majority stake are COSCO in China, Denmark's APM
Courage Marine deepens into loss in 1Q15 Singapore-listed dry bulk owner Courage Marine posted a loss of USD2.38 million for the first quarter ended 31 March 2015, up 136% year on year (y/y) from its loss of USD1.01 million in the first quarter of 2014. The company's turnover decreased by 77% y/y to USD1.2 million in the first quarter of
Ezion may lose rig charters in Mexico Singapore-based offshore oilfield service provider Ezion Holdings said it expects to lose some charter contracts for its rigs in the Gulf of Mexico. The company, which first-quarter 2015 profit dipped 9.3% year on year to USD41 million, told analysts that Mexico is a potential headwind. UOB Kay
Otto Marine posts loss for 1Q15 despite higher earnings Singapore-listed offshore services provider Otto Marine posted a loss of USD13.27 million for the first quarter that ended on 31 March 2015 despite recording higher revenue for the period. Revenue increased by 91.8% to USD148 million in the first quarter of 2015 from USD77 million in the
EMEA shipping, UN urge Southeast Asia to obey SAR law As Europe's migrant agenda is unveiled, international shipping and the UN call on Southeast Asian governments to ensure they meet their search and rescue obligations under international law. Speaking to IHS Maritime on 15 May, secretary general of the International Chamber of Shipping, Peter
Bank sues Sainty Marine over $48m loan Shenzhen-listed Sainty Marine has been sued by Bank of Jiangsu over a CNY300 million (USD48 million) loan dispute, the first lawsuit brought against the company in the wake of a series of defaults on debts. On 14 May, Nanjing City Intermediate People's Court put on file the suit filed by Bank of
NOL slashes 1Q15 loss to $11m Singapore's Neptune Orient Lines (NOL) has slashed its first-quarter 2015 loss to USD11 million, compared with USD98 million in the first quarter of 2014. Pre-tax earnings totalled USD133 million in the period, up from USD33 million last year, while its revenue declined 13% to USD2 billion in the
Caution advised on Libya calls Vessels should make security assessment and get war risk cover, say experts
Average Adjusters Association calls for London claims council Professional body could offer guidance on court rulings, argues Rowland
Taiwanese shipping lines post upbeat first-quarter results Evergreen returns to the black while Wan Hai triples its profits
Goodwill appointed UK shipping minister Eurosceptic Tory traditionalist takes over from Hayes
Skuld sees sharp fall in net profit Bottom line from P&I and non-P&I declines to $13.5m
Rates and orders put pressure on box line share performance Returns for investors have been subdued, says Drewry
Suezmax earnings soar $22,000 in just one day West Africa to Europe now close to $61,000 per day after one of the biggest leaps in earnings in recent memory
Libyan oil exports plunge on renewed tension Rosy outlook predicted by the International Energy Agency is at odds with Lloyd's List Intelligence data
Asia-north Europe rates slide 23.6% Nearly half of May GRIs are eradicated as rates drop to $658 per teu
Speed - the sixth risk for tankers The 'effective' fleet size cause by changes in speed is a critical factor in VLCC supply, says new study
Yang Ming posts $10m first-quarter profit Box carrier reverses earlier losses as operating revenue rises 17%
Supply chain theft: be aware of the weak links Time spent on due diligence is time well spent, says TT Club
China Cosco scraps another four ships As of April 30, the company has disposed of 26 vessels so far this year
Africa's clean tanker promise Fuel imports into sub-Saharan Africa should continue to provide support to clean tanker markets, shipbroker Poten & Partners said.
Hannson praises Norway PSV hire Norwegian shipowner Herbjorn Hansson congratulated his government for responding to a call to charter an offshore vessel to provide a quick response to the humanitarian challenges in the Mediterranean.
Atlantic trio taken Atlantic Offshore has seen three oil companies extend contracts for three of its vessels.
Mackay: 'Merger talks over' Talks surrounding a mega-merger that would have seen Teekay Tankers more than double the size of its fleet have ended, its chief executive says.
Rina adds 400 ships Italian classification society Rina has seen 400 vessels switch from rivals during 2014.
"No reason" for attack Norwegian manager Transpetrol has said it can see no reason why Iranian forces fired shots across one of its tankers, as talks to settle a row involving a jacket collision were at an advanced stage.
Brazil's $50bn boost New Chinese investment of $50bn could cut the distance of iron ore exports from Brazil through a new rail link.
Alex Yeo steps down Swissco's chief executive Alex Yeo Kian Teong has stepped down from his position "to pursue personal interests".
Greeks see lending rise Confidence in a recovery of the shipping markets in 2015 and beyond prompted banks lending to Greek shipping to increase their overall exposure by 4.1% in 2014.
Steaming ahead Japan's Kuribayashi Steamship has improved its annual profit despite a fall in revenue.
UK's new shipping man Robert Goodwill has been named as UK's new shipping minister with responsibility to complete the country's maritime growth study.
Tanker crewman missing French authorities have suspended a search for a seafarer lost overboard from a Nordic American Tanker suezmax.
Sentinel turns to Cosco Sentinel Marine of the UK has placed it second newbuilding order in three months.
Iran eyes LNG exports Iran is looking for investors to help produce LNG for export shipments.
MFL wins Dover battle The UK's court of appeal has ruled in favour of MyFerryLink (MFL) in a protracted saga over competition in English Channel routes.
ABG misses payments Some of ABG Shipyard's banks are considering selling its assets after it missed restructured debt repayments.
DSME disappoints in Q1 South Korean shipbuilder posts surprise red ink in the opening three months of 2015.
Meiji makes progress Meiji Shipping has pushed up its profit for the full financial year 2014 as it beat its own forecast.
Evergreen black again Taiwanese container line Evergreen Marine Corp has returned to profit in the first quarter as it cut costs.
DWM confident of third party success A new shipmanagement joint venture between Diana Shipping and Wilh Wihelmsen is confident of attracting third party clients.
Dayang moves for Perdana Malaysian oil and gas company Dayang Enterprise Holdings is launching a $234m takeover offer for compatriot anchor-handler owner Perdana Petroleum.
Bulker bargaining We take a look at what was said in the market over the past week.
NewLead fights on Greece's NewLead Holdings is continuing to negotiate a restructure of its debt and seek new finance as it revealed a lower loss for 2014.
Bigger and better New York-listed Dynagas LNG Partners has increased first quarter profit as its fleet expanded.
PSV rides to Med rescue Norway has chartered an offshore support vessel to participate in the rescue of migrants in the Mediterranean.
CMA CGM upgraded CMA CGM has seen its corporate family debt rating upgraded to B1 from B2 by Moody's Investors Service.
Evergreen targets ASEAN Evergreen says it is looking to tap into the significant trade growth between China and the countries that make up ASEAN.
Products tanker under fire A Transpetrol-owned products tanker has been fired upon by units of Iran's Revolutionary Guard in the Persian Gulf.
Portland's LPG setback Plans to export Canadian LPG to Asia via the US port of Portland look to have hit a major stumbling block.
Environmental provisions of Polar Code win IMO backing But environmentalists outside the IMO remain unimpressed.
'We must react,' says Maersk official as utilization falls CFO says shipping line could cut some services.
IMO to develop guidelines for in-use fuel sampling Guidelines have already been adopted by EU in connection with increased ECA compliance checks.
Dutch owner poised to make LNG order Veder not new to the small-scale LNG market.
Endofa opens Copenhagen office 'Scandinavia is an area many Endofa staff and management call home.'
Singapore: Bunker tanker auction Second attempt to offload vessel.
Fuel oil arbitrage to Asia up 27% year-on-year Analysts point to tougher emission regulations in Europe.
More 'next-generation' LNG carriers on order Vessels feature a hybrid propulsion system.
Increasing appetite for more supplier regulation at IMO Current legal framework under MARPOL Annex VI seen as insufficient for assuring delivered bunker fuel quality.
Nor-Shipping to see 'unique' fleet performance system launched System tracks factors that influence vessel fuel efficiency.
Gazprom expands product portfolio at Romania ports Company has 'established cooperation' with local supplier of Mobil products.
New bunkering operation in the Philippines Hanwa and Petrotrade operating in partnership.
IMO committee resists change to sulphur verification procedure IBIA proposal seeking to align MARPOL Annex VI approach with ISO 4259 runs into major headwinds.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
