• Up mass rescue preparedness UK North P&I Club warns

    The UK's North P&I Club has "warned" ship owners about costs that might not be covered while undertaking large scale rescues in the Mediterranean Sea. A notice from the Club tells owners, "Lack of preparedness for a large-scale rescue operation could lead to a myriad of difficulties, dangers and

  • DEME orders first two LNG powered dredgers

    Belgian dredging group DEME has ordered what it says will be the world's first two liquefied natural gas (LNG)-powered dredgers from Dutch shipbuilder Royal IHC for an undisclosed price. The two trailing suction hopper dredgers will have a dual fuel capability, enabling them to use LNG or diesel,

  • Ocean Rig delays drillship deliveries from SHI

    George Economou's Ocean Rig is delaying the deliveries of two drillships it ordered at Samsung Heavy Industries (SHI). The two drillships, ordered in April, were originally scheduled for delivery in February and June 2017. However, in a Korea Exchange filing on 28 April, SHI said the customer had

  • Golden Ocean still threatened by weak markets, despite breathing space

    Ship sale and leaseback deals together with the postponement of deliveries of newbuildings unveiled yesterday has given Golden Ocean Group (GOGL) breathing space. However, the threat from the continuing weak market remains, shipping analysts at Arctic in Oslo said. "We see the transactions lifting

  • CIMC profit surges 289% in Q1

    Shenzhen-listed China International Marine Containers (CIMC) posted profit of CNY497million (USD80 million) for the first quarter of 2015, surging 289% from the profit of CNY128 million in the first quarter of 2014. The company's revenue stood at CNY14.6 billion, up 20.4% year on year (y/y), and

  • Changhang Phoenix to do well in H1

    Changhang Phoenix, a bulk carrier operating unit of Sinotrans&CSC, predicted on 28 April that it would remain in the black for the first half of 2015, as it seeks to resume the trading of company shares on the Shenzhen Stock Exchange. In the first three months in 2015, the company's profit slumped

    FEATURED REPORT

  • Maritime movers

    IHS Maritime profiles the latest movements by the movers and shakers: the people who make shipping happen. Please send your suggested movers and shakers to savahna.nightingale@ihs.com
  • Unlocking Iran’s crude potential

    IHS Maritime’s Greg Miller looks at how détente could present a mixture of positives and negatives for tankers

Ships Ships

  • D’Amico enters long-range tanker market

    Italian product tanker specialist D'Amico International Shipping (DIS) is to extend its activities into the long-range product tanker market with a USD 88 million order for two 75,000 dwt vessels from Hyundai MIPO's Vinashin Shipyard in Vietnam. The Milan-listed company placed the order for the two

Technology Technology

  • AVIC International, Deltamarin venture into EPC business

    Singapore-listed Chinese shipbuilding group AVIC International Maritime Holdings and its subsidiary Deltamarin are venturing into engineering, procurement and construction (EPC). Their joint venture, called Deltamarin Floating Construction, has three core business areas -environmental products

Safety & Security Safety & Security

  • Sewol captain gets life sentence

    The captain of Sewol, the ferry that capsized last year, has been jailed for life after the prosecution appealed for a harsher penalty. The appeals court in South Korea handed down the harsher sentence on 28 April. Lee Jun-seok, 69, was originally jailed 36 years for negligence and dereliction of

Ports Ports

  • BHP shelves Hedland port expansion

    BHP Billiton has announced that it is slowing iron ore output and shelving a USD500 million port expansion plan at the Port of Hedland inner harbour. In its operational review for the nine months that ended on 31 March released last week, the miner said it would go back to its 290-million-tonne

Offshore Offshore

  • Seacor posts $20m loss for Q1 2015

    Worsening conditions in the offshore market in the first quarter of 2015 led to a USD19.6 million loss for vessel operator Seacor. The loss, revealed on 23 April, compares with a USD40.1 million profit in the previous quarter and a profit of USD11.5 million in first quarter of 2014. In response to

Companies Companies

  • COSCO Shipping back to black in Q1

    Shanghai-listed COSCO Shipping, the first listed subsidiary of COSCO Group, posted a profit of CNY253.5 million for the first quarter of 2015, returning to black from a loss of CNY13.1 million in the first quarter of 2014. The company's revenue in the first quarter of 2015 totalled CNY1.88 billion,

Markets Markets

  • VLGC rates near USD100/tonne again

    Rates to haul LPG on very large gas carriers (VLGCs) on the benchmark Gulf-Asia Pacific route are touching USD100 per tonne again, as more tonnage is being diverted to the West-of-Suez. As of 27 April, the Baltic Exchange assessed the benchmark rate at USD96.313/tonne, up from USD88.25/tonne on 20
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  • Putting ‘superyacht’ safety in the spotlight

    25 Apr 2015

    The application of safety regulations in the large yachting sector is complex. Captains and crew face increasing scrutiny from authorities, underlining the importance of an effective and clear safety management system. IHS Maritime’s Stephen Cousins reports The mysterious sinking of the USD39 million superyacht Yogi off the coast of Skyros in the Aegean Sea in 2012 was … more

  • Iridium broadband partners announced

    25 Apr 2015

    US-headquartered Iridium Communications has taken a big step forward in its programme to develop a new-generation broadband service, Iridium Certus, based on the capabilities of the company’s Iridium Next satellite constellation, which is being launched this year, IHS Maritime reports. After conducting a competitive process, Iridium has confirmed that it has selected four manufacturing partners … more

  • The Philippines shipbuilding boom

    25 Apr 2015

    IHS Maritime’s Richard Halfhide looks at the growth of the archipelago’s shipbuilding sector In 1989, heady with First World hubris as the Cold War drew to a close, American academic Francis Fukuyama famously asserted that civilisation had, in terms of its political and economic evolution, reached the end of history. The western liberal democratic model … more

  • Unlocking Iran’s crude potential

    24 Apr 2015

    IHS Maritime’s Greg Miller looks at how détente could present a mixture of positives and negatives for tankers The new framework agreement on Iran’s nuclear programme may be a turning point for oil sanctions and a major development for tanker demand. However, a high degree of uncertainty remains about when sanctions could be lifted and … more