• Singapore minister: Prepare for Asia's growth

    Singapore's transport minister Lui Tuck Yew said on 21 April that the maritime community must respond to the growth of shipping in Asia and prepare itself to ride on the many opportunities this will bring. Speaking at the opening ceremony of Sea Asia 2015, one of the events in Singapore Maritime

  • TMSC back to black in 2014

    Shanghai-listed container carrier Tianjin Marine Shipping (TMSC) returned to the black in 2014 on reversal of write-down for disputed funds. TMSC's profit totalled CNY78.9 million (USD12.7 million) in 2014, up from a loss of CNY130.2 million in 2013, a stock filing of the company said on 21 April.

  • VLGC rates inch up as vessel supply tightens

    Freight rates to haul liquefied petroleum gas (LPG) on very large gas carriers (VLGCs) have been going up as available ships this month are being snapped out. The Baltic Exchange assessed the benchmark Arabian Gulf-Far East rate at USD88.25/tonne on 20 April, up from USD81.34/tonne on 13 April.

  • Mixed outlook for Thai trade in 2015

    Thailand's mild economic growth includes a mixed import and export picture senior government officials acknowledged in a 17 April national broadcast. A key problem is slow exports which did not expand because of the global slowdown, with declining volumes to China a particular concern. "In the

  • Pak Bara port development back on

    Thai prime minister General Prayut Chan-o-cha has said plans to develop a deepsea port at Pak Bara are back on. Pak Bara is on Thailand's Andaman coast, with plans envisaging a port built in Satun and connecting via a land bridge to Songkhla on the Gulf of Thailand coast. The controversial port

  • Mobster sentenced for dockworker extortion

    Stephen Depiro, a soldier within the Genovese organised crime family, was sentenced to 41 months in prison for extorting payments from fellow dockworkers on the New Jersey waterfront. He was also ordered to serve three years of supervised release by US district judge Claire Cecchi Newark, New

Ships Ships

  • Japanese yard orders down 36%

    Orders at Japanese shipyards fell 36% year on year (y/y) in February, continuing its descent as investment appetite for newbuildings has been affected by the sluggish dry bulk market. Figures from the Japan Ship Exporters' Association (JSEA) showed its member yards clinched 30 export orders

Technology Technology

  • DeltaLangh offers new scrubber deal

    Finnish scrubber supplier DeltaLangh has launched a new scrubber product to complement its present range along with a financing package that includes quoting a price. So far, the scrubbers, developed by Langh ship owner Hans Langh have been installed aboard his company's ships and recently ro-ro

Safety & Security Safety & Security

  • Sewol protest turns violent

    South Korean riot police were compelled to spray pepper and fire water cannons at protesters demanding a more forceful response from the government to the Sewol ferry disaster that left more than 300 dead or missing. Just days after commemorating the first anniversary of the disaster on 16 April,

Ports Ports

  • China eases cabotage rules for five more ports

    Five more Chinese ports can now allow access to overseas-flagged vessels entering China's cabotage box shipping trade. Tianjin port; Jiangyin Port Area in Fuzhou; Haicang Port Area in Xiamen; Mawan, Chiwan, and Shekou port areas in West Shenzhen port; and Nansha port in Guangzhou all now have the

Offshore Offshore

  • Bumi Armada establishes new subsidiary

    Malaysia-listed offshore services provider Bumi Armada has incorporated a wholly owned subsidiary in the British Virgin Islands under the name of Bumi Armada Marine Holdings (BAMHL). The subsidiary is established at an authorised capital of USD50,000, comprising 50,000 ordinary shares of USD1 each,

Companies Companies

  • Royal Caribbean cuts 2015 profit outlook

    Shares of Royal Caribbean Cruises fell sharply after the cruise company reduced its 2015 profit outlook, citing rising fuel prices and a strong US dollar. The company reported net income of USD45.2 million for 1Q15, up from USD26.5 million in 1Q14. However, adjusted net income was USD45.2 million

Markets Markets

  • Influx of Capesizes to weaken ship scrap prices

    Ship scrap prices in South Asia are set to go down again as increasing number of owners are recycling Capesize bulkers. Amid the ongoing downturn in the freight market, owners are choosing to recycle more of their older Capesizes to minimise losses. However, with more ships being offered to cash
  • Klaipeda port builds on its links

    18 Apr 2015

    Low costs and efficiency have made the port a Baltic success story, says IHS Maritime’s John Pagni Being Lithuania’s only cargo port has not held Klaipeda back from acting as a trade outlet for landlocked nations. “Port infrastructure is upgraded annually by the state on behalf of Klaipeda State Seaport Authority (KSSA) and we maintain … more

  • Banks to tighten offshore lending

    18 Apr 2015

    A return to higher oil prices may have little effect on the offshore sector as banks look to reinvent their lending and revenue strategies. IHS Maritime’s Savahna Nightingale reports Access to easy capital is becoming more difficult as banks begin to tighten their offshore lending strategy. This could place further financial pressure on stressed vessel owners and … more

  • Bulker buyers grab bargains

    17 Apr 2015

    The value of bulk carriers halves, luring eager buyers to the S&P market, IHS Maritime reports Even though fewer candidates are coming on to the market, a considerable number of bulker sales are still being concluded. Sellers seem to be offloading tonnage for fear of a sustained slump in earnings, while buyers believe that they … more

  • New generation of PCTCs showcase innovation

    11 Apr 2015

    The recurrent themes of upscaling and increased efficiency are making an impression in vehicle carrier construction as the forward order book holds steady, by IHS Maritime’s Malcolm Latarche Car carriers are one of the more specialised vessel types and also one of the types where trade routes have limited variety to a very high degree. … more