MOL drills prove their worth Japanese shipping company Mitsui OSK Lines' enhanced emphasis on passenger ship safety proved fortuitous when a fire broke out on one of its ro-ro ferries. The 11,401 gt Sunflower Daisetsu, operated by MOL subsidiary MOL Ferry, was carrying nearly 100 passengers and crew when it caught fire off the...
Building Credibility for "Green" Ships Technology Today, we are pleased to introduce to the Maritime Industry the innovative SetelHellas MRV Solution which has been developed as a "natural extension" of SeeMBox-V, in respect to the new MRV Regulation (EU) 2015/757 that requires from ship owners and operators to monitor and report their carbon emissions (CO2) on...
Meyer Werft delivers first Breakaway Plus-class cruise ship Family-owned Meyer Werft has put down a new marker for high value-added German shipbuilding construction with the delivery of the 165,000 gt Norwegian Escape, the first of four vessels of the Breakaway Plus class. Norwegian Escape takes capacity, interior...
Container shipping to face tough year despite halving fleet growth The inflow of container shipping newbuildings is likely to halve this year from an all time high levels of 2015, but persistent weak demand will mean that the industry will be facing a tough year, a senior shipping analyst forecasts. Last year, 1.67 million teu were added to the global container...
CSCL delivers 2015 profit warning China Shipping Container Lines (CSCL) today issued a profit warning that it will lose an estimated USD426 million in 2015 following a year of low freight rates and asset impairment losses from vessels and containers. The Hong Kong-listed container line blamed severe market conditions for the huge financial turnaround...
China ship emissions rules dependent on support of energy giants The support of China's state-owned energy (SOE) companies is central to the success of plans by the central government to reduce the output of emissions from ships that pose a danger to public health in the vicinity of its major ports. With oil and natural gas upstream...
Record demolition sales unlikely to save dry bulk market in 2016 Dry bulk vessel demolition sales are likely to reach an all time high this year, but due to weak demand the trading conditions are likely to remain very challenging, said Peter Sand, chief shipping analyst at BIMCO in Denmark. Sand forecasts that 40 million dwt of dry...
Higher car sales predicted to boost Hyundai Glovis More vehicle cargoes from its affiliates, Hyundai Motor and Kia Motors, would boost Hyundai Glovis' earnings in 2016, a report from True Friend Korea Investment & Securities has said. While 70% of Hyundai Glovis sales come from affiliates, the logistics arm of Hyundai Motor...
HHIC's creditors consider early cash injection South Korean shipbuilder Hanjin Heavy Industries & Construction (HHIC) will receive an early cash injection of KRW130 billion (USD108 million) from its creditors. Due diligence by the creditors, led by Korea Development Bank (KDB), showed HHIC is short of KRW250 billion, and KRW130 billion is...
Hyundai to suspend offshore yard As the drought in orders for drilling ships and offshore plants continues, Hyundai Heavy Industries will suspend operations at its No 2 Offshore Yard from 31 March onwards. The world's biggest shipbuilder said the yard, which was opened in 2012 on a 200,000 m² site in Onsan, builds floating production, storage, and offloading and...
Corsica Ferries founder Pascal Lota dies at 83 Pascal Lota, the founder of Corsican ferry market leader Corsica Ferries, died on 19 January at the age of 83. Lota, who was born in the Corsican town of Bastia, led the company in a long battle for market leadership with former public sector operator SNCM. He argued that there was no...
Vale says Tubarao port shutdown will impact iron ore exports Court orders Vale to halt activities indefinitely because of environmental concerns
Jinhui Shipping issues profit warning Tough dry bulk market leads to impairment loss on assets
Employers and unions team up against bullying ITF and ICS guidance aims to eliminate harassment and bullying onboard ships
China to enforce first emissions control area from April Yangtze River Delta is first of three Chinese ECAs to announce firm plans for a cap on fuel sulphur content
China's Middle East fixation Oil and trade drive Beijing's renewed interest in the Middle East
Anthony Veder secures first certified 'sustainable' shipping loan UPDATE: Bureau Veritas verified sustainability principles of loan arrangement
Tourist boat accident off Nicaragua kills at least 13 Owner reportedly ignores sailing ban despite adverse weather
Krishnapatnam port resumes capesize operations Floods shut India's 'cape hub' for over 50 days
Handysize index hits another all-time low despite rise in fixtures Market proves surprisingly feeble even as enquiries emerge ahead of lunar new year
How can tankers win investor confidence? Wrestling with shipping's big paradox of falling stocks and healthy prospects; but tanker owners can turn things around
Iran signs oil supply deal with Greek refiner Agreement reached after series of discussions in Athens and Tehran
Höegh LNG Partners increases cash distribution for fourth quarter Move takes annualised cash distribution to $1.65 per unit
Vallianz Holdings inks investment pact with China's CRRC units CRRC to tap on Vallianz's global network to promote its offshore and marine technologies
Goldenport suspends debt payments London-listed company in talks with lenders to restructure loans
International Bunker Industry Association picks Simon Neo as Asia regional manager Bunkering veteran has extensive experience in oil and shipping
AAPA calls on ports to ramp up infrastructure investment Modern, efficient seaport-related infrastructure key to US global competitiveness
Russian ports see mixed results in 2015 Some ports saw moderate rise in oil products handled while others witnessed declines
Indispensable me Is a strong emphasis upon the indispensable nature of this essential industry sufficient to encourage a more positive public attitude towards our maritime world?
Tankers: Traders charter new build VLCC and Suezmax to ship gasoil More such deals were expected on the back of the contango in the gasoil.
UAE's Gulf Petrochem to expand Fujairah oil products storage terminal Storage capacity at the world's second-largest bunker fuel hub to up by 243,280 cu m, via tender.
Dry bulk shipowner Swire Bulk starts office in Miami, Florida The opening marks the eighth office.
China's CSSC OME delivers IMOIIMAX tanker Stena Imperative to Stena Bulk The MR-sized tanker is the 5th of 10 tankers ordered.
IBIA appoints new regional manager Singapore-based Simon Neo has more than 30 years of oil and shipping industry experience.
FEATURE: Major global bunker firms eye Latin American growth in 2016 Trading firms shrugged off red flags in the troubled region.
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