• BLT agrees to final restructure plan

    Berlian Laju Tanker (BLT) is winding up a three-year restructuring process that will ultimately see 27 vessels rebranded as Chembulk Tankers. BLT Chembulk Group CEO Jack Noonan announced on 24 April that BLT's directors had agreed in principal to the terms with its lenders for the final phase of

  • UK energy mix powered by gas

    The UK will have closed its ageing fleet of nuclear power stations and all its coal-fired power stations by 2025, Stephen Lovegrove has confirmed. These two sources currently account for 22% and 35% of power generation. "We are right in the middle of attracting an unprecedented amount of

  • MISC refutes AET Tankers sale talk

    Malaysian shipping group MISC has refuted rumours that it could sell its subsidiary AET Tankers. As early as last year, there was talk that MISC would sell AET Tankers so it could focus on LNG shipping. At that time, oil tanker rates were still low. In 2011, MISC exited the container shipping

  • Rickmers Maritime Trust profit down 29% in 1Q15

    Singapore-listed Rickmers Maritime Trust saw its 1Q15 profit drop 29% year-on-year to USD7.03 million. The trust, led by Thomas Preben Hansen, cited lower charter rates on six ships. Five of those ships were redelivered during the 2014, and one vessel was redelivered in 1Q15. The trust secured new

  • TIPC partners with Japan’s Naha port

    Taiwan International Ports Corporation (TIPC) on 21 April inked a memorandum of understanding (MOU) with Japan's Naha port to enhance co-operation. This is TIPC's first MOU with a Japanese port, which aims to seek new opportunities for shipping services between Japan and Taiwan. Currently, Taiwan

  • Colombia releases Chinese ship, holds captain

    Colombia has freed Da Dan Xia, COSCO Shipping's heavy-lift vessel involved in an illegal arms transport, and has ordered the ship to head to Havana, Cuba, on 21 April. The ship was detained in Cartagena by Colombian authorities in March this year for carrying illegal weapons. Approximately 100

Ships Ships

  • MOL orders four car carriers

    Mitsui OSK Lines (MOL) announced that it has signed a contract with Minaminippon Shipbuilding to construct four next-generation car carriers. The vessels will be delivered in 2017 and 2018, a statement of the company said on 23 April. The capacity of each vessel is 6,800 units of standard passenger

Technology Technology

  • Singapore to invest more in maritime technology

    The Maritime and Port Authority of Singapore (MPA) will invest more in technology in view of Singapore's push to capture new opportunities when the shipping market improves. Speaking at the inaugural Singapore Maritime Technology Conference on 23 April, Singapore's senior minister of state for

Safety & Security Safety & Security

  • EU migrant resource funding 'not sufficient'

    The European Council has announced that it will triple the funding and assets of Europe's border patrol operations, but the shipping industry has responded that this will not be sufficient to tackle the mass irregular migration in the Mediterranean Sea. In statements issued from the European

Ports Ports

  • Kalmar receives huge orders from ICTSI

    Crane manufacturer Kalmar has received two separate orders totalling nearly 60 Ottawa terminal tractors from International Container Terminal Services (ICTSI) in the Philippines. A total of 42 Kalmar Ottawa terminal tractors, five Kalmar reachstackers, and two Kalmar rubber-tyred gantry cranes

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

  • Analyst: Concerns over DSME undue

    Daewoo Shipbuilding & Marine Engineering is now the star performer among South Korea's Big Three shipbuilders and concerns over its earnings are undue, said an analyst. Samsung Securities analyst Han Young-soo based his report on a recent visit to the Okpo-based DSME to check on its recent

Markets Markets

  • HMM cancels Newcastlemax orders

    Hyundai Merchant Marine (HMM) said on 24 April it has cancelled two Newcastlemax dry bulk carriers that it ordered in 2013. South Korea's second-biggest shipping company explained in a Korea Exchange filing that it placed the orders on the basis of securing long-term shipping contracts. "Since
  • 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