Banks losing appetite for shipping loans Shipping banks are pulling back on loans in 2016 amidst 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...
Maersk plans to help upgrade Alang shipbreaking standards The Maersk Group has announced plans to involve itself in improving health and safety standards at shipbreaking sites in Alang, India. The group said that it intended to assist selected yards in Alang to upgrade their facilities and practices, as well as taking steps to form...
Triyards secure scientific research ship order Ho Chi Minh-based Triyards Shipyard has signed a new contract to build a Scientific Research Vessel for the Taiwanese Ocean Research Institute (TORI). The 76 m x 16 m research vessel is an IMT2001 design from the Offshore Ship Designers group headquarted in Ijmuiden, Netherlands and...
Port of Rotterdam innovation starting to bear fruit We have officially rounded off the test phase. It has been six months since the port of Rotterdam's innovative new website Rotterdam Port Connector went live. By now, some 25,000 individuals, employed by a range of international firms, have joined the network - and benefit from the tools offered by...
Barco's workspace solution boosts control room operator efficiency Kortrijk, Belgium, 14 January 2016 - Barco, a global leader in networked control room visualization solutions, is proud to announce the launch of its new operator workspace solution: OpSpace. By providing access to the required sources and applications on one workspace environment consisting of multiple displays, OpSpace enables operators to...
Havila board tables amended restructuring proposal The board of Havila Shipping, the listed Norwegian offshore services vessel owner, has tabled a new proposal to restructure the finances of the company, three days before an already extended deadline. The amended proposal, which follows talks with creditors of the company, includes NOK 4.5...
Creating patterns with PropCad Premium The new Pattern Corrections utility allows users to quickly create machining models, casting patterns, and molds directly from PropCad. HydroComp PropCad is our most popular software for the geometric modeling of marine propellers. Now, PropCad Premium introduces another powerful feature, the Pattern Corrections tool. Overview HydroComp's Pattern Corrections tool reduces manipulation...
Blue Amazon: the LNG ship of the future On the shores of the Amazônia Azul - or Blue Amazon, the part of the Atlantic off the coast of Brazil - the LNG ship of the future is being designed. The shape of an LNG ship's hull and cargo tanks are critical for the vessel to sail with minimal...
Malta Register of Shipping posts positive 2015 results The Maltese Register of Shipping registered posted a strong financial performance for 2015. It reported an increase of almost 8.3 million gross tonnage representing a growth rate of 14.3% over the previous year bringing the total of gross tonnage...
Barco's workspace solution boosts control room operator efficiency Kortrijk, Belgium, 14 January 2016 - Barco, a global leader in networked control room visualization solutions, is proud to announce the launch of its new operator workspace solution: OpSpace. By providing access to the required sources and applications on one workspace environment consisting of multiple displays, OpSpace enables operators to...
Oceanside Police Department orders new Crystaliner from Willard Marine Anaheim, Calif. - Jan. 13, 2016 - (Marine NewsWire) Willard Marine, Inc., a global leader in the manufacture of mission-proven boats, has received an order to produce a 33-foot, fiberglass harbor patrol boat for the Oceanside Police Department in California based on the iconic "Crystaliner" boat design. The order from Oceanside Police...
APM Terminals finalises Cartagena joint venture Bogota, Colombia - APM Terminals and Colombian-based port and terminal operating company, Compañia de Puertos Asociados S.A. (Compas S.A.) have finalized the incorporation of Cartagena Container Terminal Operator (CCTO), a new joint venture which will manage and operate Compas S.A.'s existing multipurpose facility in Cartagena, Colombia. APM Terminals will hold...
Online platform showcases investment opportunities in the port of Antwerp Investors in search of available locations in the port of Antwerp can now go to a unique online platform that provides a complete list of real estate on offer in the port area. Until recently potential investors had to go on a long search using various channels, which was time-consuming...
Key road scheme to maximise Dover regeneration projects and port access Work on a key road scheme in Dover is due to start on 20th February. The work involves junction improvements at the Prince of Wales and Duke of York roundabouts on the A20, along with improved access to Union Street. The junctions on the A20 at the Prince of Wales and...
Mitsubishi Heavy Industries continues to suffer over cruise ship fire Japanese ship builder Mitsubishi Heavy Industries (MHI) has continued to incur extraordinary losses arising from the delayed delivery of two cruise ships it is building for Aida Cruises, a subsidiary of Costa Crociere. From April to December 2015, MHI, which also makes...
Further transitions to Rostock plant for Liebherr Maritime Cranes As of January 2016, design, sales and customer service for mobile harbour cranes, reachstackers, ship cranes as well as offshore cranes will operate out of our maritime production site in Rostock, Germany. Liebherr Maritime Cranes would like to announce elements of its strategic realignment to further increase performance, focus on new...
Indonesia moves a step closer to ratifying MLC The Indonesian government has introduced a new initiative requiring a state inspector to ensure all ocean going shipping in the country complies with the Maritime Labour Convention, according to the head of the Indonesian Shipowners' Association. Carmeltia Hartoto, head...
DFDS expects better year after record 2015 DFDS, the Danish ferry and logistics group, has posted record earnings in 2015 and expects its operating result to improve further in the present year. In 4Q15, group net profit rose to DKK205 million (USD31 million) from a mere DKK11 million in the same period year before....
MacGregor strengthens its heavy-lift market share MacGregor, part of Cargotec, has strengthened its position in the heavy-lift market by confirming an important new contract to deliver twelve 450-tonne capacity heavy-lift cranes for six Ecolift F900 vessels. The 13,300 dwt vessels are being built by two Chinese shipyards, Hudong and Huangpu Wenchong, for long-term charter to US...
Hyundai Heavy Industries to endure a bumpy 2016 Hyundai Heavy Industries (HHI) will still face a challenging year for 2016, although its losses are expected to decrease. HHI narrowed its annual loss for 2015 to KRW1.36 trillion (USD1.14 billion), from the record loss of KRW2.2 trillion it incurred for 2014. Its subsidiary Hyundai Mipo Dockyard managed to restore profitability by winning more orders,...
Charterers steer clear of Hyundai Merchant Marine Brokers in the dry bulk sector told IHS Fairplay today that charterers are insisting on excluding ships controlled by Hyundai Merchant Marine (HMM), amid mounting concern over the latter's liquidity. A Perth-based broker said, "Major Australian miners have told us they don't want...
Handover highlights progress of '16.5 million Lerwick Harbour project The first section of a new £16.5 million jetty for the fishing and offshore industries has been handed over to Lerwick Port Authority by contractor, Tulloch Developments Ltd. The early completion of the 110-metre section at Holmsgarth North clears the way for the demolition of the nearby former Shell jetty which...
First Damen tug for Fratelli Neri Fratelli Neri S.p.A has taken delivery of a Damen ASD Tug 3212. The new vessel, called Luisa Neri, was handed over from Damen Maaskant Shipyards Stellendam in the Netherlands, on 25 January 2016. The vessel represents two firsts: it is Fratelli Neri's first Damen newbuild tug and it is the...
Cavotec's MoorMaster to be introduced at two UK passenger ferry berths In the latest development for our innovative MoorMaster mooring technology in the UK, Wightlink Ferries is to introduce the system at two of its passenger and vehicle ferry berths in Portsmouth (on the mainland), and Fishbourne on the Isle of Wight. "This is our first MoorMaster order in the UK and adds to our growing list of...
OSD develops new series of multipurpose tractor tugs Netherlands-based OSD (Offshore Ship Designers) has designed a new series of high-performance tractor tugs which can be used for a wide range of functions, including escort operations, harbour towage, ship handling, offshore mooring and berthing. The basic model tug has a LOA of 33 metres and a beam of 13.5 metres,...
Greece remains first in ship value Greece once again retains the number one position of shipowning countries in 2016, based on the data from ship-valuation provider VesselsValue.com. The UK-based analytics firm ranked Greece in first place with estimated total vessels value of USD95.3 billion in 2016, a drop of 11% from valuation of USD105.6 billion in...
Navios Acquisition prioritises debt repayments as tanker cash flows Angeliki Frangou says it 'makes sense' to be conservative, but there is also scope for acquisitions
European trade strength raises DFDS Operator reports improved 2015 results as Eurotunnel dispute vessels return to service
UK Supreme Court to hear Pappas appeal against OW Bunker Hundreds of owners left on tenterhooks as hearing may not be until 2017
Former shipping billionaire Nobu Su down to his last two tankers Taiwanese owner decides to sit out downturn and turns fire on RBS
Italy crude imports hit by Libya tussle Factions causing confusion over who has official authorisation to allow loading of cargoes is leading to delays
P&I clubs set to face increased pressure from members at 2016 renewals Clubs will need to justify price rises at renewal, rating agencies warn
Skuld highlights P&I concerns over equity jitters Low investment returns will ramp up pressure ahead of renewal deadline, Hansen warns
Freight rate rot hits home February 12, 2016: Maersk's fourth-quarter losses underline market weaknesses
LNG spot shipping on road to recovery? If Awilco LNG is a bellwether, LNG spot shipping could be recovering as tonnage is soaked up by new cargoes
APMT readies LA terminal for industry behemoths Plan in place to raise Pier 400's cranes in preparation for 18,000 teu-20,000 teu boxship calls
Navig8 Product Tankers reports $27m in net profit for 2015 Newbuilding deliveries for new company to continue apace through 2016
APMT profit warning highlights industry woes Slower than expected trade growth forces terminal operator to backtrack on $1bn earnings target
Team Tankers appoints new chief financial officer Kevin Kilcullen will assume his new role on February 22
NTSB to resume search for El Faro's voyage data recorder Mission scheduled to start in April and last for two weeks
India's JNPT relaxes conditions for use of Direct Port Delivery service Move expedites transportation of containers to company warehouses
Maersk Group to help develop sustainable ship recycling in India Group is building a coalition with other ship owners to improve waste facilities and hospitals, as well as upgrading housing for migrant workers
Impairments widen fourth-quarter loss for Belships Reduced China demand and overcapacity also pushed market values and freight rates lower
Mixed prospects in store for capes market following holidays Period rates still well below operating expenses
Global weighing regulations to create uncertainty at US ports says Fitch Ports could face more congestion as relevant parties work out costs and logistics of weight verification
US Pacific southwest ports see strong container throughput growth in January Strong volumes attributed to inventory restocking and the end of labour disputes
Nasdaq puts Ultrapetrol on watch Exchange notifies Buenos Aires-based company of non-compliance.
OSG settles in tax advice case Settlement means more recovery for bondholders.
NTSB to search El Faro wreck again Investigators still hunt for ship's data recorder.
Essar shareholder sells Oil and gas entity unloads stake in Indian tanker group
Nigeria's $250m Greek deal in jeopardy Agreement to charter 40 ships for cabotage trade imperilled by lack of contracts in Africa.
Commerzbank hails shipping run-down as profit tops $1bn German lender has now shed $109bn of non-core assets since 2012; loan provisions slashed in 2015.
Lockton seals PL Ferrari acquisition US insurance broker group officially announces deal with famous Italian group.
DFDS CEO pockets $2.28m from shares Niels Smedegaard exercises options to sell stock after record year for Danish owner.
Oaktree reduces its stake in CPP Big US fund reveals smaller ownership in the Evangelos Marinakis-backed MLP.
Bulker owner ESL reveals profit Finnish group sees Q4 earnings dip, but remains in the black in tough markets.
Havila makes revised restructuring offer Troubled offshore vessel owner increases equity issue by $11.6m and pledges to buy back bonds.
Topaz Energy stacks offshore trio Dubai owner shifts two PSVs and an AHTS from West Africa to layup in Turkey.
DFDS's 2015 profit tops DKK 1bn Danish ro-ro group enjoys record year and thinks better is to come in 2016.
Awilco LNG loss grows in fourth quarter Norwegian LNGC owner also noted limited new LNG production as full-year deficit widened too.
Polarcus grabs Norwegian field work Middle East seismic survey player clinches eight-week job from May.
Los Angeles sees busiest January on record The largest container terminal in the Americas has reported a 33% year-on-year increase in volumes.
Ditas firms suezmax duo at Hyundai Heavy Newbuilding deal also marks first contract for world's largest shipbuilder in 2016.
Vessel impairments take their toll at Belships Drop in asset values forces owner to negotiate a waiver from bank to avoid loan covenant breach.
Team Tankers recruits former Principal Maritime CFO Hans Feringa-led chemical tanker owner completes reshuffle of top team with banker appointment.
Odfjell to benefit from low bunker prices in 2016 as loss-making hedges mature Achieving 20% plus average fuel savings on converted ships.
Distillate tax narrows St Petersburg bunker fuel spread Tax on MGO used for blending deters buyers.
FOB 3.5% Rotterdam crack rebounds to 10-month high on fuel oil tightness A balanced Northwest European cargo market along with strong buying interest has turned the market bullish.
Turkey's Ditas orders two Suezmax oil tankers Hyundai Heavy to deliver in 2017-18.
Rosneft, Pietro Barbaro sign MoU on international shipping JV A formal agreement will follow after JV format determined.
Orient Overseas (International) Limited (OOIL), the subsidiary of the Chinese shipping group COSCO Shipping Holdings that operates containerized maritime transport services with ...
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