• Hutchison Ports' throughput up 6%

    Hutchison Ports' throughput grew 6% year on year (y/y) to 82.9 million teu in 2014, mainly due to rises in European and mainland China terminals. The division's total revenues gained 4% y/y to HKD35.6 billion (USD4.6 billion) on the throughput growth, a stock filing of the company said. This

  • Economou weighs tanker IPO vs sale

    DryShips chairman George Economou has confirmed that a sale of the company's tanker fleet is possible if a stock offering does not receive a high enough valuation. NASDAQ-listed DryShips reported a loss of USD24 million for 4Q14 versus a loss of USD24.4 million in 4Q13. Excluding a one-off

  • Pacific Radiance full-year profit up 22%

    Singapore-listed integrated offshore marine services provider, Pacific Radiance posted full-year profit of $69.42 million, up 22% year-on-year for the financial year that ended 31 December 2014. Revenue increased slightly by 2% to $172.2 million in FY14, as compared to $168.58 million in FY13. The

  • Seadrill sees consolidation opportunities in downturn

    A weak cycle in the offshore drilling business may create opportunities for Seadrill, the London-based listed drill rig and ship operator in John Fredriksen's business empire, to consolidate the sector, it said in a statement. Group net profit fell to $150 million in 4Q15 from $283 million in the

  • BV reports 10.1% revenue rise

    French classification society Bureau Veritas (BV) has reported a 10.1% rise in its marine and offshore revenues to EUR323.8 million (USD368.1 million) last year as the group benefited from recovery in newbuilding activity. Excluding acquisitions, organic growth in marine and offshore was 7.1%,

  • Rickmers Trust Management posts full-year loss

    Singapore-listed container ship business trust Rickmers Trust Management (RTM) posted a loss of USD15.96 million for the financial year ended 31 December 2014, as compared with a profit of USD23.4 million in FY13. Revenue decreased 9% year-on-year to USD130.32 million in FY14 from USD143.49 million

Ships Ships

  • Amarcon boosts new bulkers’ fuel efficiency

    Amarcon is to deliver SEEMP-compliant OCTOPUS-Onboard fuel monitoring systems for 12 Handysize bulkers being built by Yangzhou Guoyu Shipbuilding for Pioneer Marine (Singapore). Due for delivery in 2015 and 2016, the 25,000 dwt Handysizes have a Green Dolphin design, intended to reduce fuel

Technology Technology

  • World's latest large ro-ro box ship delivered

    The STX Offshore & Shipbuilding shipyard in Jinhae, South Korea, has announced the delivery of ro-ro container vessel Jolly Cobalto to Italian shipping company Ignazio Messina & Co. The new vessel, claimed by Messina to be largest such vessel in the world, will be Italian-flagged and will make its

Safety & Security Safety & Security

  • Bangladesh ferry death toll rises to 79

    The death toll in Bangladesh's MV Mostafa ferry disaster rose to 79, according to the latest official count of bodies recovered. On the river Padma, near Shivalaya Upazila sub-district, the motor launch Mostafa carrying over 200 passengers capsized after being hit on 22 February by the 330 gt cargo

Ports Ports

  • Australia's Port Alma closed by cyclone

    The Australian coal port of Port Alma and Bundaberg on the Queensland central coast remain closed after sustaining cyclone damage over the weekend. "We are checking navigation aids at both these ports but flood waters are slowing our progress," a Department of Transport spokesperson told IHS

Offshore Offshore

  • Maersk takes early delivery of new jack-up

    Maersk Drilling has taken delivery of its third XL Enhanced ultra-harsh environment jack-up rig named Maersk Integrator ahead of schedule. The Keppel FELS built unit is the third in the series of four jack-ups ordered by Maersk between 2011-2013. The total investment in all four jack-ups is USD2.6

Companies Companies

  • Zoullas poised to exit

    Sophocles Zoullas, founder of NASDAQ-listed Eagle Bulk, has threatened to leave the company, the board of directors has confirmed. Zoullas has delivered written notice that there is "good reason" to terminate his employment agreement, which was finalised upon the company's restructuring in October

Markets Markets

  • 'Difficult' negotiations ahead for Greece

    Speakers at the 6th Greek Shipping Forum in Athens welcomed the spirit of compromise between the Greek government and its international lenders last week, making possible a four-month extension of its loan deal. "It's good that the two sides have come closer together, that a short-term
  • Hard evidence for a hard industry

    23 Feb 2015

    IHS Maritime’s Girija Shettar recently attended an industry event where lawyers and human rights advocates reviewed the strategies needed to address abusive working situations faced by some seafarers. During a gathering of at the UK’s London Shipping Law Centre, four speakers, all former seafarers and three with Royal Navy backgrounds, were brought together to address … more

  • Container congestion

    22 Feb 2015

    JOC chief content officer Peter Tirschwell looks at the dangers faced by the global container shipping sector The biggest threat to global container shipping is not protectionism or terrorism, says Moffatt & Nichol economist Walter Kemmsies. Instead, he picks out congestion at ports: a phenomenon building for years that hit the headlines only last year. … more

  • Upgrade for Port of Santos

    22 Feb 2015

    Dredging and infrastructure upgrade to alleviate pressure at Brazil’s key cargo gateway of Santos is finally progressing, reports IHS Maritime’s RT Watson For the port of Santos to serve container ships larger than 9,000teu, channels must be dredged to a depth of more than 15m in a programme overseen by Brazil’s ministry of ports (SEP). … more

  • Indonesia’s Mr Logistics

    21 Feb 2015

    Richard Joost Lino, CEO of Pelindo II, tells IHS Maritime’s Lily Bertha Kartika he is pushing larger vessels to bring down high port costs Richard Joost Lino, who has been chief executive officer at Indonesian port operator Pelindo II since 2009, has made it his mission to revamp that sector. Inefficient ports and infrastructure have … more