Antwerp closes box traffic gap with Rotterdam Leading Belgian port Antwerp closed the gap between it and European leader Rotterdam in the key container traffic sector last year. Its container throughput showed unit growth of 7.5% over the previous year at 9.65 million teu, while containerised tonnage increased 4.6% to 113.29 million tonnes. Rotterdam's...
Restoring liquidity crucial to overcome crisis, says Korea Shipowners' Association The Korea Shipowners' Association is determined to gather all its members' strength to overcome the liquidity crisis looming over some of the country's shipping companies. Heung-A Shipping CEO Lee Yun Jae, who was unanimously re-appointed as the association's chairman at its annual general meeting on 14...
New LNG supply bodes well for trade Despite concerns of a downturn in liquefied natural gas (LNG) demand growth from the largest Asian importers, new sources of demand are expected to develop. The increase in the number of importing and exporting countries, coupled with price uncertainty, will continue to amplify the complexity of...
Bibby Line Group order highlights growing sophistication of offshore wind farm services Bibby Line Group, the Liverpool-based shipping company, has placed an order for an 89 m-long offshore wind farm services vessel with Dutch shipbuilder Damen. The vessel, which will be called Bibby WaveMaster 1, to be built at Damen's shipyard in Romania and enter service in the...
Claims up for German marine insurers German hull and machinery (H&M) insurers saw claims rebounding last year following few claims in 2014. Latest statistics by the central German claims handling agency Verein Hanseatischer Transportversicherer (VHT) show that losses across all segments, from ocean hull and loss of hire to brown water hull and builders' risk insurance, surged by...
Kawasaki Heavy Industries to lose USD189 million from Brazil venture Japanese shipbuilder Kawasaki Heavy Industries will book a JPY22.1 billion (USD189 million) in impairment losses from its shipbuilding joint venture in Brazil, joining other shipbuilders who have been hit by the Petrobras corruption scandal. In 2012, in order to enter the Brazilian...
Lifting of Iran sanctions could add 0.5M bpd to supply, say analysts The full scale entry of Iran to the oil market following the lifting the sanctions against the country by Western countries over the weekend will add up to 0.5M bpd to the supply of crude oil. This in itself is good to the tanker market, but...
Moody's maintains China Merchants' rating on Dalian investment Moody's said its rating for China Merchants Holdings International (CMHI) was unchanged after the announcement of its investment in Dalian Port, but the US credit ratings agency said it was concerned about the port's business prospects. The agency said the announcement that CMHI was purchasing 21.05% of...
Container liners push for new China-India services Container liners are rushing to introduce new services between China and India, in the hope of capitalising on the industrial growth of India to balance the economic slowdown in China. Four liners, Japan's MOL, Interasia Lines, Singapore's Pacific International Lines (PIL), and...
Busan transhipment hits 10 million mark in 2015 South Korea's Busan port handled more than 10 million transhipment containers for the first time in its history in 2015, moving the port closer to its goal of becoming the world's second-largest transhipment hub. Busan handled 10.08 million teu of transhipment-related business in 2015, equating to 52% of total container throughput,...
LR spot rates to remain soft till month-end Spot rates for long range 2 (LR2) tankers are expected to remain weak until the end of January, according to shipbroker Simpson Spence & Young. The shipbroker stated that there are fewer enquiries for the benchmark spot rates of Middle East Gulf (MEG) to Japan route prior to the end of...
New wave of shipping restructuring looms With rates far below breakeven and no rebound in sight, dry bulk will likely face a wave of restructurings in 2016, reminiscent of widespread debt renegotiations after the financial crisis in 2009-10. However, the restructuring landscape will be dramatically different this time around. On...
Experts offer shipping restructuring survival tips What steps should owners and lenders take to lessen the pain during the looming wave of restructurings in the dry bulk and offshore services sectors? Advice was offered at a 14 January forum organised by New York Maritime (NYMAR) and in an interview...
VLCC rates rise for first time in a month Further spot rate rises on key Middle East to Asia trade expected
Port of Antwerp plans fourth Tehran foray Belgian port aims to sign MOU as Iran opens for business
Port of Hong Kong box lifting down 9.5% Government to shape city into an international shipping service hub
Sanctions removal paves way for abundant Iranian LNG exports Exciting new LNG trade could open once Iran completes its export plant
Bibby expands in offshore renewables with Damen order Further orders may follow if 'suitably lucrative' work is secured during build period
International Group secures nuclear cover for 2016-2017 Rate reductions across all vessel categories ahead of February renewal, with club retention set to rise from $9m to $10m
Antwerp volumes break records in 2015 Containers throughput boosts port figures, as European Commission opens state aid investigation
Maersk Line mulls return to Iran Danish line bides its time even though 2M partner and others have already resumed services
Norden exits capesize amid fresh index lows Company makes loss on sale of last owned capesize
CSSC gives Chengxi Shipyard a $61m injection Money will be used to help the yard expand into offshore sector
OSV operators need to batten down the hatches or face ruin In a market where all players will face difficulty this year, Southeast Asian companies should be adjusting balance sheet structure and slashing costs
Safe Bulkers has six months to comply with New York listing rules Notification has no impact on business operations, dry bulk company says
Agritrade Resources confirms Euronav VLCC purchase Agritrade looking to expand floating oil storage and ocean freight service business
Busan port sees 2015 container throughput grow 4.1% Global economic slowdown caused port to miss 2015 throughput target
Tanker boost from Iran sanctions relief But rates could be hit if West African and Russian supplies are displaced
Algoma inks joint venture with Nova Marine for global cement carrier fleet Company to take 50% shareholding in Nova Marine's cement carrier fleet
Four container lines to jointly launch China-India service Companies to operate six vessels on the new direct service route
Mercator quits dry bulk as three non-executive directors resign Update: Indian company divests dry bulk business operating out of its Singapore unit amid record lows
Law and justice The treatment of the crew of the Seaman Guard Ohio in India has amounted to an insult to all seafarers
A dry month? Oh for some festive cheer! Many people in the shipping industry have good reason to wish the new year will be a better one
Japan's Nov bonded bunker fuel sales up 13% on month at 2.65 mil barrels Lower prices said to have driven buying interest.
Saudi Bahri's Q4 earnings jump on cost savings, low bunker prices More than triple Q4 2014 earnings.
Chinese firms, Algeria to develop port at Cherchell Algerian port to serve North African, European shipments.
More emphasis on dealing with solid players post-OW The fact Bunker Holding's finance model does not give banks security in its invoices 'makes us a safe partner' says Dan-Bunkering CEO.
Sweden sees higher ECA compliance than Norway in 2015 441 samples tested in Sweden and 204 in Norway, while only Norway has issued fines so far.
Tanker, carrier collide in Tokyo Bay Oil leak from tanker under control.
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