• Asian MR 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

  • China COSCO's profit up 54% y/y on subsidies

    China COSCO Holdings' profit jumped 54% year on year (y/y) to CNY362.5 million (USD58.5 million) on government subsidies for scrapping old tonnage. Excluding one-off gains, its loss narrowed 81% y/y to CNY1.4 billion due to slump in fuel costs and contraction of its chartered-in fleet, according to

  • Tanjung Offshore drops legal suits after cancellation of EGM

    Malaysia-listed offshore marine services provider Tanjung Offshore has withdrawn its civil suit against Tan Kean Soon, a non-independent and non-executive director of the company, and five others. According to Tanjung Offshore's filing to the Malaysian stock exchange or Bursa Malaysia, the legal

  • Canadian 'waste' in Manila sparks controversy

    The Canadian embassy in the Philippines has sidestepped criticisms made by BAN Toxics, an alliance of environmental and public health groups, over containers in Manila Port containing waste exports. The dispute has arisen over 50 containers of waste, including used adult diapers, exported to Manila

  • Struggling South Korean port seeks out cargos

    South Korea's Masan Port is taking urgent steps to attract more cargo. The port, in Gyeongsang Province opened in January 2015, but is not seeing the hoped for business. A meeting between Ministry of Oceans and Fisheries officials and the port on 20 March sought ways of revitalising the port. This

  • New container terminal for Montreal

    The Port of Montreal has selected Termont Montreal Inc. to be a partner in the construction and the operator of a new 600,000 teu container terminal. Construction will begin this summer on the Viau container terminal and is scheduled to open in the fall of 2016. If the port's container traffic

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

  • Nigeria closes borders for election period

    Nigeria's sea and land borders are currently closed as the country enters lockdown for presidential elections. In a statement an Interior Ministry spokesman said yesterday: "President Goodluck Jonathan has approved the closure of all Nigeria's land and sea borders... to allow for peaceful conduct

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 Corp tightens shipyard ties

    Carnival Corp has announced plans for nine additional newbuilds and sealed strategic partnerships with Italy's Fincantieri and Germany's Meyer Werft. Memorandums of agreement were signed for five newbuilds at Fincantieri to be built at the Monfalcone and Marghera yards for deliveries in 2019-2022.

Markets Markets

  • Capesize demolitions set to exceed 30 ships

    More than 30 Capesize bulkers will be torched this year, according to IHS Maritime's Sea-web.com data. The data show 21 Capesizes have already been demolished, while another 11 have been sold for demolition. As the Baltic Dry Index (BDI) shows no sign of a sustained recovery in the short term,
  • Funding our ambassadors

    21 Mar 2015

    IHS Maritime’s Richard Clayton looks at Singapore’s Maritime Cluster Fund In an IHS Maritime Fairplay opinion column at the end of February, I suggested that rather than each IMO member state appointing its own maritime ambassador, we should all consider ourselves ambassadors. That would make us all responsible for promoting the industry among those we … more

  • IADC 50th anniversary interview: Keeping maritime moving

    17 Mar 2015

    As the International Association of Dredging Companies (IADC) approaches its half-century, Lisa Maher asks Secretary General René Kolman about its celebrations, communications and concerns With a degree in economics and an innate interest in ports and maritime trade, Secretary General René Kolman joined the association based in The Hague, the Netherlands, back in 2008 from a landscape … more

  • Gone, and almost forgotten

    16 Mar 2015

    IHS Maritime’s Stephen Spark looks back at Senegal’s Le Joola ferry disaster History, and memory, can be fickle. The loss of 1,517 lives in the sinking of Titanic has been recalled in countless books, exhibitions and films. However, the greatest death toll – 4,386 in all – resulted from the loss of Manila-bound ferry Doña Paz in 1987. Between … more

  • The need for elementary courses

    15 Mar 2015

    By Richard Clayton, IHS’ chief maritime analyst Sometimes we are so busy being clever that we miss the obvious. That thought struck me as I read about the Central Dredging Association’s (CEDA’s) plans for an introductory course in dredging. The course, suggested by CEDA’s new educational activities commission, is aimed at educating maritime folk who … more