• Nord LB shipping loan book returns to profit

    Germany's second-largest marine lender, Nord LB, said its shipping loan portfolio turned a corner in the first quarter after several years of hefty losses. Its result only from ship lending reached EUR23 million (USD25.5 million) in the first three months. A direct comparison with the corresponding

  • Malaysia's Maybulk posts first quarter loss

    Malaysian Bulk Carrier (Maybulk) has posted a loss of MYR23.4 million (USD6.4 million) for the first quarter (1Q15) ending 31 March against a profit of MYR22.9 million in 1Q14. Revenue dropped by 27.8% to MYR51.7 million in 1Q15 from MYR71.7 million in 1Q14. It said the decrease in revenue and the

  • Fredriksen's Seadrill posts quarterly profit fall

    Seadrill, the London-based listed drill ship and rig owner in John Fredriksen's business empire, has reported a fall in profits for the first quarter of 2015 (1Q15). Seadrill estimates the weak cycle to extend to next year, but it may create opportunities for the company. Net profit fell to USD448

  • Golden Ocean profit hit by weak freight rates

    Dry bulk shipping company Golden Ocean Group has reported a deep 1Q15 loss on weak freight rates and a USD140.9 million impairment charge, but the company has repeated its pledge to consolidate the sector in the future. Group net loss amounted to USD75.3 million in 1Q15, while a year earlier Golden

  • Zhuangji Group's yards hold first creditor conference

    Zhuangji Ship Industry and Wenzhou Yuandong Shipyard, two subsidiaries of Zhuangji Group in Zhejiang, China, held the first creditor conference on 27 May after they filed for bankruptcy reorganisation. As of 15 May, 49 creditors has demanded a total of CNY1.2 billion (USD194 million) claims from

  • Seoul to advise salvage companies on Sewol tender

    South Korea's Ministry of Oceans and Fisheries (MOF) said on 28 May that salvage companies interested in tendering for the hoisting of Sewol will be advised on preparing their bids. The MOF will hold a session at 15:00 h local time on 29 May to guide interested companies in writing technical


  • Wall Street hits ‘pause’ button

    Wall Street has had a major impact on the orderbook in the past decade, both pro and con. In 2013 and early 2014, US-listed companies bet heavily on newbuildings. This year, public investors are shunning fresh orders in dramatic fashion, reports Greg Miller.

    Photo: The New York Stock Exchange. Credit: PA

  • 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

    Photo: New Algoma Central CEO Ken Block Sorensen. Credit: Algoma Central

Ships Ships

  • Nanshan Group plans to buy second-hand bulkers

    Nanshan Group, a Chinese private-run conglomerate, plans to buy second-hand bulk carriers to meet the demand of its electricity producing unit for coal shipping capacity. The planned acquisitions of second-hand bulkers include two to four Panamaxes, two to three Supramaxes, and two to three

Technology Technology

  • Wärtsilä wins another BWMS order

    Wärtsilä won another order for its Ballast Water Management Systems (BWMS) in the first quarter of 2015. Three new container ships being built for CMA CGM at the Jinhai Shipyard in China will be fitted with Wärtsilä Aquarius UV BWMS, a statement released on 27 May by Wärtsilä said. Wärtsilä will

Safety & Security Safety & Security

  • Inquest into Sage Sagittarius crew deaths under way

    An Australian coroner's court today began the inquest into the suspicious deaths of two seafarers on board the Panamanian-flagged bulk carrier Sage Sagittarius in 2012. The New South Wales Coroner is investigating two of three deaths on board the Japanese-owned vessel in April and May, 2012. A

Ports Ports

  • Union: Callao box ops affected

    Replacement labour used by APM Terminals (APMT) to fill in for striking dockworkers at Peru's Port of Callao has started to affect container operations, according to the labour union's spokesman. Juan Carlos Vargas, spokesman for the Peruvian dockworkers' union SUTRAMPORPC, disputes APMT's

Offshore Offshore

  • COSCO delays delivery for two PSVs

    Singapore-listed shipbuilder, COSCO Corporation Singapore (COSCO) has delayed the delivery dates of two platform supply vessels (PSVs) after reaching mutual agreement with its buyers. COSCO did not give any reasons for the delay, according to its filing in Singapore Exchange (SGX), but speculation

Companies Companies

  • Eurotunnel drops MyFerryLink crewing contract

    Eurotunnel has announced that it will not renew its contract with the employee co-operative that crews the vessels of its ferry affiliate, MyFerryLink, when it expires in early July. The company confirmed to IHS Maritime that it had written to the co-operative, SCOP SeaFrance, to announce its

Markets Markets

  • Höegh LNG mulls dollar bond issue in Nordic markets

    Höegh LNG (HLNG), the listed gas shipping business unit in the Oslo-based Leif Höegh group, said it is contemplating to issue five-year dollar denominated bonds in the Nordic markets. "Höegh LNG Holdings Ltd. is contemplating issuing senior unsecured bonds denominated in USD in the Nordic bond
  • Shale boom upsizes ethane carriers

    23 May 2015

    IHS Maritime’s Frank Lennox-Millard reports on the development of purpose-built very large ethane carriers Very large ethane carriers (VLECs) are destined to become part of the global seascape. A boom in shale oil/gas in the US promises increasing amounts of ethane and ethylene for highly profitable export. As a result the shipping industry is finding solutions … more

  • Tonnage shortages return to haunt banana shippers

    23 May 2015

    Ecuador bananas are in huge demand in previously untapped export markets, IHS Maritime’s Michael Hollmann reports Long-haul banana trades continue to flourish as consumers in Asia add more of the fruit to their diets. While reefer containers gain market share, Ecuador-based shipbroker Sopisco argues that specialised liner services could claw back some of the business. Bananas … more

  • Day of the Seafarer: Dubai alliance aims to educate a region

    18 May 2015

    IHS Maritime’s Richard Clayton looks at how the GCC is targeting the education and training of local labour to cement the region’s maritime and offshore future A partnership between a maritime academy and an ‘i-university’ could change the way the Gulf Cooperation Council (GCC) countries think about the industry, writes Richard Clayton, IHS chief maritime … more

  • Maritime movers

    16 May 2015

    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 Costa brand rebuilder wins PR professional of the year Hansjörg Kunze, vice-president of communication and sustainability of the Costa Group, has received a PR Professional of the Year award … more