• Bureau Veritas H1 marine profits up 36%

    The marine and offshore business of French classification society Bureau Veritas showed strong revenue and profit growth in the first quarter of 2015. Adjusted operating profit jumped 36% year on year to EUR54.7 million (USD61.4 million), while revenues kept pace with 34% growth to EUR202.2

  • Seoul urges Sewol victims to seek compensation

    South Korea's Ministry of Oceans and Fisheries held a seminar to advise the families of 149 victims of the Sewol ferry disaster who have yet to seek compensation, ahead of the 30 September deadline for filing claims. The families are living in Ansan, where many of the passengers came from. The

  • Fengfan to buy CISC’s power businesses

    Fengfan Stock Limited (Fengfan), the listed branch of China Shipbuilding Industry Corporation (CSIC), has announced it will purchase assets owned by CSIC's power businesses for CNY14.4 billion (USD2.3 billion). The company will issue 772 million shares at CNY17.79 each to CSIC Group, CSIC

  • Indonesian Navy arrests tanker hijacking suspect

    The Indonesian Navy has arrested the alleged "mastermind" it says was behind the hijacking of the Malaysia-flagged oil tanker MT Orkim Harmony in June. According to the Indonesian Navy, a suspect identified as Albert Yohanes was apprehended at an apartment in Grogol Petamburan, West Jakarta, by the

  • Port of Osaka’s cargo traffic falls in May

    Cargo traffic at Port of Osaka in western Japan fell 13.9% year on year (y/y) in May to 6.205 million tonnes as both domestic trade and foreign trade shrank sharply. The preliminary figures were released by the Osaka municipal government on 31 August. Of the total cargo traffic in May, 2.721

  • CMHI's 1H profits up 29%

    China Merchants Holdings (International) (CMHI)'s profits have risen 29% year on year (y/y) to HKD2.8 billion (USD361.3 million) in the first six months of 2015 due to a growth in port-related manufacturing operations. Profits derived from the group's core ports operation grew 10% y/y to HKD2.4

Ships Ships

  • VLOC sale belies quiet recycling market

    The sale of a Very large ore carrier (VLOC) during week 35 has belied the quiet recycling market. Shipbrokers said that General Ore International's 1990-built VLOC Rebekka N was sold for USD11,899,875 or USD325 per ldt for demolition in Pakistan. However, Dubai-based cash buyer Global Marketing

Technology Technology

  • Wärtsilä to power world's first LNG dredger

    Finland-based Wärtsilä has confirmed it will supply dual-fuel LNG/diesel engines for Belgium dredging major DEME's 8,000m³ Antigoon class trailing suction hopper dredger (TSHD) Scheldt River. One of two dual-fuel (DF) TSHDs ordered by DEME, Scheldt River will be joined by the smaller Minerva, a

Safety & Security Safety & Security

  • Indonesian Navy arrests tanker hijacking suspect

    The Indonesian Navy has arrested the alleged "mastermind" it says was behind the hijacking of the Malaysia-flagged oil tanker MT Orkim Harmony in June. According to the Indonesian Navy, a suspect identified as Albert Yohanes was apprehended at an apartment in Grogol Petamburan, West Jakarta, by the

Ports Ports

  • Rotterdam considers joint venture in Indonesian port project

    The port of Rotterdam has gone into partnership with Indonesian port corporation Pelindo 1 on the planned new Kuala Tanjung deep water port near the city of Medan in North Sumatra in the Strait of Malacca. The Dutch port and Pelindo 1 have agreed to carry out a joint feasibility study into the

Offshore Offshore

  • Sembcorp Marine wins $1Bn North Sea job

    Singapore-listed offshore services provider Sembcorp Marine has won an engineering, procurement and construction (EPC) contract worth over USD1 billion for the Culzean field development project in the North Sea. The contract was signed by its subsidiary SOME with Maersk Oil North Sea UK to build a

Companies Companies

  • Peace deal signed in MyFerryLink dispute

    Two former MyFerryLink vessels that have been occupied by their former French crews since the end of June are to be freed on 2 September, after a peace agreement was reached in Paris yesterday evening. The two vessels, Berlioz and Rodin, were taken over by crew members after their owner Eurotunnel

Markets Markets

  • Rough year for shipping stocks

    US-listed shipping equities have partially recovered from recent lows, but remain sharply down for the year. At the closing bell on 28 August, the 53 shipping companies listed on NYSE and NASDAQ were down 46% from their 52-week highs, according to an analysis by IHS Maritime. Over nine-tenths of
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  • Crewless ships and legal risks

    01 Sep 2015

    By Richard Clayton, chief maritime analyst, IHS Maritime & Trade Are unmanned ships safer or less safe than fully crewed vessels? Can human navigators on the bridges of dredgers perform their tasks more accurately than remote operation of dedicated dynamic positioning-dynamic tracking systems? How close are we to the fully hands-off ship? There has been … more

  • Fresh course for Philadelphia

    29 Aug 2015

    Perishables and open space are foundations for growth along the Delaware River, IHS Maritime & Trade reports Philadelphia has a range of marketing channels it intends to use in a push to increase its port business and attract new customers. Whether the commodities involved are reefer imports from South Africa, steel from Russia, or potential … more

  • Yards should heed dry market prospects

    29 Aug 2015

    By IHS Maritime’s chief maritime analyst, Richard Clayton Two years ago, DS Norden, the Danish dry bulk and product tanker company, laid out a new corporate strategy built on expectations of improved market conditions for 2014. Not unreasonably, directors wanted to position the company so that it could take advantage of an upturn. Investment was … more

  • Comment: Shipping people’s power

    29 Aug 2015

    Do shipping people influence decisions? That’s the most intriguing question asked of delegates to the Maritime Cyprus conference to be held next month, IHS Maritime & Trade reports It might be asked of Andreas Chrysostomou, whose bid to become secretary-general of the International Maritime Organization (IMO) proved not strong enough. Was his bid derailed by … more