• ‘K’ Line executive jailed for price-fixing scam

    Japanese shipping executive Toru Otoda has been sentenced to 18 months in a United States prison and fined USD20,000 after admitting taking part in a scheme to rig bids and fix prices on ro-ro cargo. Otoda, a general manager of the car carrier division of Kawasaki Kisen Kaisha ('K' Line), conspired

  • Cross-Med container service upgraded

    Italian shortsea container carrier Tarros and Turkish ship operator Arkas Line have upgraded their joint intra-Mediterranean service by adding a fifth vessel - the geared 1,736 teu EM Spetses. Marketed as 'Great Pendulum Service' (GPS) by La Spezia-based Tarros, the loop connects ports across the

  • China clears way for auction of arrested bareboat charter vessels

    China's Supreme People's Court has made it clear for the first time that arrested vessels on bareboat chartering can be auctioned at the request of creditors. The new ruling came as the latest sign that China's maritime courts are tapping into international conventions in their trials. Before

  • Golden Ocean, Knightsbridge shareholders approve merger

    Shareholders of Golden Ocean Group and Knightsbridge Shipping, both listed dry bulk carrier operators in John Fredriksen's business empire, have agreed to a proposed merger. The new company will be called Golden Ocean Group Limited and its shares will be listed on both the New York and the Oslo

  • India fears the pirates it cannot prosecute

    Somali pirates are moving closer to India, defence minister Manohar Parrikar has claimed. "Somali pirates … are shifting their locations towards India. Because their [shipping] lanes are heavily guarded, they have slightly moved to this side. They are still 450 n miles away from India," he

  • Cyprus ready to launch Limassol Port privatisation

    The Cypriot government has announced plans to transfer all commercial operations at the Port of Limassol to private sector operators by the beginning of April next year. Minister of Communications and Works Marios Demetriades told IHS Maritime he intended to open the bidding for commercial services

Ships Ships

  • Cosco Zhoushan wins up to seven Maersk boxships

    Chinese shipbuilder Cosco Zhoushan Shipyard has won an order for up to seven ice-class containerships from Denmark's Maersk Line, which will be a first for the shipbuilder in the construction of containerships. The order is for five 3,600 teu feederships with an overall length of 200 m and the

Technology Technology

  • Impact of ‘Big data’ debated

    The benefits of 'Big data' to ship classification were highlighted at the Connecticut Maritime Association conference, but some industry insiders remain sceptical. "Big data will transform the way we think and the way we work. It will ensure the right information will go to the right people at the

Safety & Security Safety & Security

  • Sewol victims' families urge prompt salvage

    Families of the nine Sewol victims who remain missing have urged the government to hoist the vessel ahead of the first anniversary of the tragedy on 16 April. On that date last year, Sewol, carrying 476 passengers and crew, capsized during a routine Incheon-Jeju trip. More than 300 of them were

Ports Ports

  • Ports shut, oil price up as Yemen descends into chaos

    Yemen sank further into chaos as Saudi Arabia led an aerial assault on Houthi rebels this morning. All the country’s ports have been closed. In its Operation Decisive Storm, the 10-state Saudi-led coalition launched air strikes on Yemen’s Houthi-held capital, Sana’a. Reuters

Offshore Offshore

  • RINA updates offshore platform rules

    The Italian classification group RINA has updated its offshore platform rules in response to growing industry challenges in the offshore sector, it announced today. The rules and guidance provide a comprehensive guide to classification, certification, and verification of fixed offshore oil and gas

Companies Companies

  • Carnival shares surge on strong profits

    Cruise giant Carnival Corp has announced better-than-expected 1Q15 results, prompting its NYSE-listed stock to rise in heavy trading. Carnival reported net income of USD49 million for 1Q15 versus a net loss of USD20 million in 1Q14. Excluding non-cash items, Carnival had adjusted net income of

Markets Markets

  • Asian medium-range tanker rates under pressure

    After surging to a near seven-year high last week, medium-range (MR) tanker freight rates have been easing off this week. As of 26 March, the Baltic Exchange assessed the Singapore-Japan rate at Worldscale 149.06 or USD15,208 per day, down from W156.88 or USD16,778 per day a week ago. The South
  • Offshore project vessels make waves in China

    29 Mar 2015

    A massive wind energy growth strategy is fuelling demand for high-tech vessels, IHS Maritime’s Dexter Yan reports China’s ambitious offshore power goals are set to unleash a huge demand for special ships that are needed to install gigantic windmills at sea. Wind power installation vessels, which are still perceived as a niche market in China, … more

  • Insight: China iron ore imports boom

    28 Mar 2015

    IHS Maritime’s Angela Yu looks at China’s iron ore import boom Ore imports to China from Australia, west Africa and Brazil all increased last year, while import volumes from Malaysia, Mongolia, and Iran all dropped. The 548 million tonnes of iron ore imported last year to China from Australia represented an increase of 31.5% year-on-year. … more

  • Cruise guests under attack

    28 Mar 2015

    IHS Maritime’s Richard Clayton looks at the response of the two cruise ship companies in the wake of the Tunis terror attacks We don’t often write about shipping companies’ safety and security teams unless they are caught off guard. They don’t appear on promotional material nor do they have their own dropdown box on a … more

  • Petrobras plagued by corruption scandal

    27 Mar 2015

    How shipping is exposed to ‘perfect storm’ at Petrobas IHS Maritime’s Greg Miller reports Fallout from the spiralling scandal at Petrobras has already begun. Shipping debt linked to the Brazilian oil major is under scrutiny, the press has written about alleged bribes by shipping, and concerns are rising over Petrobras’ future chartering appetite. In the … more