Asia-Europe battleground heats up The crash in freight rates on the major Far East westbound routes continues today with more double-digit slides reported by the Shanghai Shipping Exchange. Its freight index SCFI showed another 14% drop in average spot rates on the Shanghai/North Europe run to only USD399 per teu while the
Increasing oil production, forecast demand growth support tankers Increasing production of oil and a raised demand forecast have provided further good news to an already firm crude tanker market and brightens the skies in product and chemical trades too, shipping analysts in Norway said. "IEA raises oil demand growth estimate for 2015 and points to increasing
Two die at Shanghai shipyard Two workers died and two were severely injured when a ship block fell at Shanghai's Hudong Zhonghua Shipyard-owned Changxing Shipbuilding on 15 April. Local media reported that a hoist crane at the yard toppled over and dropped the ship block crushing the workers below. One victim, a 32-year-old
Imports strengthen at LA ports Box imports are making significant gains at America's largest container complex while lingering congestion may still be hampering exports. Import boxes at the Port of Los Angeles increased 31.5% year-on-year in March to 430,898 teu, and jumped 42.1% to 317,520 teu at Long Beach - both port records
Manifestos promise a 'sea-blind' UK election Shipping has no place in the manifestos issued this week by the five main political parties contesting the UK general election on 7 May. The Conservative, Green, Labour, Liberal Democrat and UK Independence Party (UKIP) documents did not mention shipping, ports, maritime industries or maritime
Pan Ocean to amend rehabilitation plan South Korean bulker operator Pan Ocean said on 17 April that it is amending its rehabilitation plan and will submit the revised plan to the South Korean courts next week. Key terms of the revised plan, such as discount rate of cash repayment and decision of reduction of capital, will be disclosed
IPA completes maintenance dredging at Incheon ports Incheon Port Authority (IPA) has completed maintenance dredging at coastal ports 3 and 4. The dredging, which was completed in March, was done at a budget of KRW2 billion (USD1.8 million). The port authority said that about 97,088 m³ of sand and sediments were dredged from the waters. In a
Keppel rides on short-term vibe Investors are urged to accumulate Singapore-listed marine, property, and infrastructure company Keppel Corporation's (Keppel) stock, which is riding on a short-term momentum. Malaysia-headquartered CIMB Bank analyst Lim Siew Khee said that Keppel's share price will continue to inch up in the near
Japanese yard orders down 36% Orders at Japanese shipyards fell 36% year on year (y/y) in February, continuing its descent as investment appetite for newbuildings has been affected by the sluggish dry bulk market. Figures from the Japan Ship Exporters' Association (JSEA) showed its member yards clinched 30 export orders
CPP raises cash for debt deal NASDAQ-listed Capital Product Partners (CPP) has priced a follow-on equity offering that will enable amendments to its credit facilities. The mixed-fleet operator announced on 16 April that it will sell 12.8 million common units at USD9.53/unit, a relatively small 4% discount to the closing price
Bumi Armada establishes new subsidiary Malaysia-listed offshore services provider Bumi Armada has incorporated a wholly owned subsidiary in the British Virgin Islands under the name of Bumi Armada Marine Holdings (BAMHL). The subsidiary is established at an authorised capital of USD50,000, comprising 50,000 ordinary shares of USD1 each,
Fifteen capesize orders were changed into tanker orders in first quarter Tanker orderbook swells amid backlash of failing dry bulk market
All smiles at BW LPG as 2014 profit doubles World's biggest VLGC player reaps rewards as earning power soars, telling investors there is more to come
Star Bulk wraps up Excel fleet takeover Influx of 34 bulkers has nearly doubled number of vessels in the water
Rickmers seeks to emulate Seaspan business model Owner accepts dilution but wants '5% of Mercedes-Benz, not 100% of Lada'
Sea hub for the Asian century Singapore's marriage of maritime planning and free enterprise has served it well
Tankers take advantage as Libya ramps up oil output Oil output rises come despite Libya still being embroiled in conflict
First LNG-fuelled boxship set for launch this weekend Public show as Tote's Jones Act vessels to leave General Dynamics Nassco slipway
Asia-north Europe rates slip to lowest level since 2009 Spot market rates fall by another 14.4% as carriers pin hopes on May GRIs
Rising suezmax fixtures reflect robust market Suezmaxes in greater demand this year, fresh data shows
Owners draw a line in the sand to refuse dud deals Bunker price rise has added to the challenges facing capesize owners and operators
Liner reliability improves during March Deepsea carriers have started to get their scheduling back on track following US west coast resolution
PSA plans its next 50 years Port of Singapore Authority looks forward to an expanded global portfolio and port development at home
Shenzhen faces slow progress in making emissions control compulsory City has brought in a generous voluntary scheme, but it can hardly follow Hong Kong's example to pursue legislation in the near future
NOL focuses its fortune on transpacific trade Ahead of Singapore Maritime Week, Containerisation International takes a look at how NOL's sale of its logistics arm will impact the business one of the island's best-known businesses
Drewry report verifies liner shipping's CO2 cuts Analysis suggests each container on the arterial routes between Asia and Europe has seen its CO2 footprint drop by 35%
Strong cargo rebound for Californian ports as anchorages empty out Prospects of labour peace bring cargo back to US west coast
Lloyd's List Sulphur Survey: Distillate fuels seen as best solution for meeting sulphur rules Lower prices, and technical complexity of alternative solutions, make owners more likely to opt for distillate fuels
Pan Ocean announces rehabilitation plan changes Korean shipping company will submit a revised rehabilitation plan to the Korean Court next week
Zim holds up Wan Hai as role model for mid-size lines Scale not the only route to financial success, says chief executive Rafi Danieli
GHS downgrades Navigator Global Hunter Securities (GHS) cut its rating on Navigator Holdings' stock to "neutral" as the shares neared the investment bank's price target.
Fire strikes Grieg port Fire has struck Grieg Star Shipping's port terminal in Squamish, on Canada's western coast.
ABS Group taps CTO for CEO The American Bureau of Shipping (ABS) has tapped its chief technology officer to take the helm of its technical services division, ABS Group of Companies.
Wet orders hit eight-year high A lack of private equity interest has not stopped tanker newbuilding activity reaching the highest first quarter level since before the financial crisis, EA Gibson says.
No Beijing behemoth Rumours Beijing is planning to pull together four major state-owned shipping companies appear to have been shot down by one of the companies involved.
ULTR sale fails Former owners turn down chance to buy South American company's tankers and boxships as it plunges to 2014 loss.
'Serious money' A post-crash peak in tanker rates will help push some of Wall Street's largest tanker owners to stronger than anticipated first quarter profit, Wells Fargo says.
Chevron hires Solstad ship Solstad Offshore has agreed to continue its cooperation with long-term partner Chevron Offshore in Thailand.
Star adds final piece Star Bulk Carriers has accepted delivery of the last of the 34 ships purchased as part of its takeover of Excel Maritime last year.
Taiwan Nav drops Taiwan Navigation has posted lower earnings for 2014 despite increasing revenue.
Stena LNG fixes to NWS Stena Bulk has chartered out one of its three LNG carriers to Australia's North West Shelf (NWS) project for a mid-term period.
Cosco Busan owner sued Insurers are suing the owner and former manager of the ex-Cosco Busan for $11.2m after it smashed into the San Francisco Bay Bridge in fog in 2007, spilling 200,000 litres of bunkers.
'A roaring start' Andreas Sohmen-Pao has praised BW LPG's success in its first full year as a public company as it emerged the shipowner is working towards another Oslo listing.
GOS adds PSV India's Global Offshore Services has added one platform supply vessel (PSV) to its tally.
PD prosecuted PD Ports of the UK is being prosecuted over the death of a worker in a fall on a Japanese bulker.
Hapag launches US route Germany's Hapag-Lloyd will introduce its tenth service from north Europe to north America at the end of April.
Economou grows tanker fleet George Economou is addressing one of the hurdles he faced when looking to list a tanker fleet by continuing to build a substantial private platform in the crude sector.
Ferry fire contained A blaze on a passenger vessel has been contained at a Philippines shipyard.
Last chance for boxships Arun Kumar Gupta, chairman of Shipping Corporation of India (SCI), is giving the company's liner unit six months to return to the black.
KfW increases lending KfW IPEX-Bank has added EUR 1.3bn ($1.4bn) to its shipping book through a state-backed financing scheme.
Allianz cuts Hoegh holding One of the largest shareholders in Hoegh LNG has trimmed its holding in the Oslo-listed shipowner.
Brenner buys Euroseas stake Fred Brenner has emerged as a major investor in Aristides Pittas backed Euroseas.
Rejig at Pan Ocean Korea's Pan Ocean is preparing to change the terms of its court rehabilitation plan.
Ugly rumours? Are bulker owners being conned by brokers in Singapore and can Petrobras charterers avoid jail?
Where's the money? Russia has launched a criminal investigation into alleged embezzlement during the construction of its new flagship Far East shipyard.
Fortescue ups exports Bulkers have received a much-needed boost as Australian miner Fortescue Metals ramps up production.
Liner reliability improves Liner shipping service reliability across the three core East-West trades is said to have hit a five-month peak in March.
OSK buys design house Danish ship designer OSK-ShipTech has bought domestic rival Jorgen Petersen to strengthen its position.
Milford Haven profit steady The UK Port of Milford Haven has reported a full-year net profit of £3.4m ($5.1m), slightly down on the £3.5m in 2013.
US in Libya clampdown The US is to impose new conditions of entry on ships arriving from all ports in Libya, the US Coast Guard (USCG) has confirmed.
Bunkers up, boxes down Singapore has reported mixed numbers for its bunker industry and container terminals last month, official figures show.
Terminal fire close to Vancouver sparks evacuation Dock fire 90% contained at port in Squamish, BC.
TOTE's gas-powered boxship to launch Event covered live on internet.
Rough weather halts Black Sea bunker operations 'Two storm warnings in the last two days', says Novorossiysk player.
Nigeria extends life of single hull tankers Country will allow single hull tanker operation for another five years.
Pressure on bunker premiums as fuel oil ouput remains high Strong refining margins mean ample supplies of product.
New player for ARA Ex-OW manager resurfaces.
Yang Ming aims to save over $64 million in bunker costs New 14,000 TEUs capacity vessels are 'eco-friendly, energy efficient'.
Viswa Lab finds wide regional differences in bunker fuel value Says the 'best' fuel is worth around $60 pmt more than the 'worst' fuel using its in-house value index.
Owners prefer MGO in ECAs Industry survey confirms distillates as the popular choice.
Greenpeace urges Spain to recover bunker fuel from wreck Decision to tow burning trawler out to sea is facing criticism.
Fuel oil bunker demand softens in northwest Europe Meanwhile, Rotterdam observes stronger demand from Russian Far East.
English Bay bunker spill shuts fishery operations Oil spill caused by grain ship Marathassa.
US shipowner buys fuel-efficient pair Company claims first orders for new bulk carrier design.
US Navy officer admits bribery in corruption probe Lieutenant Commander pleads guilty to accepting $15,000 worth of cash and gifts.
Brightoil: MFM allows for 'highest level of supply standards' Company adds second MPA-approved MFM bunker tanker to Singapore fleet.
Montevideo: IFO380 'extremely tight' Says its company cannot offer the product at present.
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