Exclusive Q&A: Top shipping banker addresses market turmoil As the value of US-listed shipping companies deteriorates, concerns about the industry's future access to Wall Street are rising. In an exclusive interview with IHS Fairplay conducted on 9 February, Jefferies' global head of maritime investment banking Jeff Pribor offered his assurances and outlined...
Precious Shipping MD warns of wave of dry bulk bankruptcies Thailand's Precious Shipping has warned of the potential for a wave of bankruptcies in the dry bulk sector as banks roll back doubtful loans to financially-troubled bulk players. Khalid Hashim, managing director of Precious Shipping, blamed falling rates for dry bulkers, as witnessed by the very low Baltic Dry Index (BDI)....
Mercator untouched by sale of Singapore unit Mumbai-listed Indian shipping and logistics company Mercator Ltd will not be adversely affected by the sale of its Singapore-listed dry bulk shipping unit for a token 3 Singapore dollars. Mercator sold its 66.17% stake aggregating 900.85 million shares in financially troubled Mercator Lines...
Safmarine MPV backtracks from South Africa The specialised breakbulk and projects carrier of the Maersk Group, Safmarine MPV, is withdrawing from the South Africa-West Africa trade. The Antwerp-headquartered operator has agreed the sale of its service on this route to South African bulk and breakbulk operator Fairseas International for an...
Hamburg suffers from lack of China cargoes The downturn in the Far East-Europe trade and Russian trade sanctions had a sharp effect on Hamburg's port throughput last year. Overall cargo handling volumes at the Hansestadt's terminals slipped by 5.4% to about 138 million tonnes in 2015 but container throughput suffered a drop of...
Container market balance improving after surprisingly weak 4Q15, says Maersk CEO Tonnage balance on the container shipping market appears to be improving after a very weak 4Q15, although it may be too early to say whether the improvement is sustainable, said Nils Smedegaard Andersen, CEO of A.P. Moller-Maersk (APM), the Danish shipping giant,...
Singapore's PSA likely to buy part of HMM's Busan terminal Singapore's main container terminal operator PSA International is likely to acquire part of Hyundai Merchant Marine's terminal in Busan New Port, sources have told IHS Fairplay. Beleaguered HMM, which continues to sell assets to bolster its liquidity, has reportedly signed a memorandum of understanding with...
China's LPG imports hit record high in 2015 China's LPG imports for 2015 hit a record 11.9 million tonnes, according to data compiled by IHS Waterborne Energy, which tracks LPG shipments. This amount beat earlier expectation of 8 million tonnes. China has been importing more LPG to feed its...
Samsung HI unlikely to hit 2016 order target, says analyst Samsung Heavy Industries, South Korea's second biggest shipbuilder, is not likely to achieve its 2016 order target of USD12.5 billion as a return of drillship orders is unexpected, explained CIMB Securities. SHI snared USD10 billion worth of orders in 2015, up 37% year-on-year. Following a briefing with...
Lyttelton port opens NZ$85 million, earthquake-resistant wharf The New Zealand South Island Lyttelton Port, in Christchurch, has rebuilt the 230 m-long Cashin Quay 2 wharf, which was severely damaged during the earthquakes of 2010 and especially 2011, as a stronger, deeper...
MSC Cruises to develop USD200 million Bahamas resort island Geneva-based global cruise line MSC Cruises is scheduled to start construction next month on 'Ocean Cay MSC Marine Reserve' in the Bahamas, the biggest Caribbean island development by any cruise company. The project follows the December 2015 signing of a 100-year lease by Bahamas...
Maersk 2015 profit tumbles 82% as oil price, freight rates crash Maersk Group's 2015 profit plunged 82% to USD925 million as low oil price expectations led to a huge impairment loss and container freight rates fell to record lows during the year.The Danish shipping company blamed a demand gap across most of its business units for severely impacting the group's...
VLCC rates to stabilise in near term London-based shipbroker Simpson Spence Young (SSY) predicted the spot rates for very large crude carriers (VLCC) to continue falling after the festive holidays, but suggested that the overcapacity situation may be contained in the near term. Since its dive at the start of 2016, the VLCC spot rates have stalled temporarily...
Hamburg's box numbers fall nearly 10% in 2015 German port hit hard by slump in cargoes from key trading nations
Navios Acquisition meets expectations as profits rise Tanker owner will book $2.1m from MR sale
Odfjell improves as yard delays hinder fleet renewal Outlook brightens as costly bunker hedges are left behind
US agricultural exporters call for halt to container weighing implementation AgTC says rules will disadvantage US exports
APM Terminals and Maersk Line forge closer ties AP Moller-Maersk companies end impartial relationship as pair report slump in 2015 profits
Product tanker rates choppy, LR rates slip further Excess diesel inventories in Europe and gasoline inventories on US Gulf Coast impacting MR rates
Mercator sells off Singapore division for token S$3 Company sells 900m shares of Mercator Lines to divest its Singapore-based bulk cargo division
Brussels poised to announce breakthrough in box line antitrust probe Lines agree to market-test new pricing practices in the hope of bringing case to a close
Global LPG demand growth underpins VLGCs Long-term health of liquefied petroleum gas shipping is robust, despite spot rate dips witnessed now
Scrap rates continue to fall amid increased demolition sales Year of the Fire Monkey brings no immediate break in weak sentiment vexing the market
Suezmax and aframax tanker rates hover at six-month lows Physical crude market differentials largely help explain weakness in West African crude market
Rand Logistics results weighed by customer bankruptcy Company cuts procurement expenses and streamlining operations to improve cost efficiencies
Maersk Group presents bleak full-year results Danish conglomerate's results show huge impact of low oil prices and freight rates
Maersk Line 2015 profit down 44% to $1.3bn with worse to come in 2016 Update: World's largest containership operator slipped into the red in fourth quarter with loss of $165m
AAPA says proposed fiscal 2017 budget insufficient for US ports Budget would see funding for harbour maintenance, environmental protection and port security cut
Georgia awards port project to boost China to Europe trade Initiative aims to link up China and Europe on the maritime front and the historic land-based Silk Road
PIL calls for tougher action to curb exploitation of seafarers Carrier has adopted strict manning procedures to ensure full compliance with the Maritime Labour Convention
Navig8 Chemical Tankers posts strong fourth-quarter results as fleet grows Newbuilding programme lifts fourth-quarter profit to $9.1m versus $2m net loss a year ago
Port of Oakland makes plans to accommodate ships amid Ports America exit Ship using Outer Habor Terminal to relocate to adjacent terminals
Major US container ports to see retail imports grow 4.5% in first half of 2016 But monthly comparisons to 2015 are skewed a year after west coast disruption
Booth builds up stake in DHT Holdings Billionaire's investment fund reveals new shareholding in tanker owner.
Wartsila scoops Japan dual-fuel deals Finnish group supplying 61 engines for 16 gas carrier newbuildings.
Danish owners stand out among world top 10 Nation's fleet value climbs by almost one fifth in past year, making it unique among leading maritime nations.
Saudi, Bahrain ban Iranian ships Arab countries bar Iranian-flagged vessels from entering territorial waters as tensions escalate.
Lloyd Fonds tanker funds see 40% return Hamburg finance house says payouts rose for wet trades in 2015, but boxships still struggling.
Mercator sells bulker unit for token $2 Indian shipowner finds buyers for its court-managed Singapore subsidiary.
Herbjorn Hansson hits out at analysts Nordic American Tankers CEO says comments about the age of its fleet display lack of shipping knowledge.
Maersk warns profit will fall significantly in 2016 Danish titan delivered disappointing guidance on the back of fourth quarter loss.
Ferry owner guilty of safety breach New Zealand's Fullers admits failing to ensure seats were stable before crash.
Bhagwan Marine buys Delta Subsea Australian offshore operator concludes second takeover this year as it grows fleet.
UN: N Korea's OMM evading sanctions Shipowner has switched flags on vessels to continue trading, UN panel says.
Clarksons ups Avance, Arctic trims outlook Morkedal gets more positive on Oslo-listed LPG owner; Stavseth puts sector under review.
Technip awarded subsea contract in the Gulf of Mexico French engineering giant to deploy deepwater pipelay vessel Deep Blue in project off New Orleans.
MISC shares get an upgrade following sell-off Analysts say Malaysian tanker owner is a 'buy' based on valuation mismatch in shipping.
US container volumes forecast to see early year decline Trade association does not expect volume levels to normalise until April in wake of ports dispute.
Ship emissions must be curbed to meet Paris climate target: NGOs Call for the EU and IMO to introduce measures as there is 'no reasonable excuse to continue exempting the sector'.
Slow steaming to continue despite low bunker prices: Drewry Drive towards larger container vessels also seen continuing, but 'stay of execution' for smaller ships.
US DATA: EIA says US fuel oil stocks highest since 2010 on low demand US residual fuel oil stocks rose to their highest levels in nearly six years.
TANKERS: US shipping insurance now available to non-US persons for Iranian crude, product Primary US sanctions on Iran is still in place, however.
India's bulk freight traffic to grow 20%/year to 2025: McKinsey, AECOM Bulk freight traffic could reach 750 million tons per annum by 2025.
Nigerian authorities secure release of hijacked Singapore-registered ship: MPA All crew members are reported to be safe.
Bunker Holding, Danish Kosan Crisplant to build LNG plant at Frederikshavn Frederikshavn seen as ideal location because of high traffic.
Low oil prices delaying shipowner decisions on sulfur regulations: consultant "Refiners won't invest in producing more middle distillates to meet the inevitable shortfall in 2020" Tolson said.
Houston MGO bunker fuel price hits all-time low Houston MGO at $302/mt ex-wharf, the lowest price since Platts launched assessment in Sep 2012.
ICE Brent nears $30/b after oil complex weakens on IEA report Oil futures plummeted Tuesday after the International Energy Agency projected ongoing oversupply.
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