• Jason Marine Group profit up 37.2%

    Singapore-listed marine electronics systems integrator and support services provider Jason Marine Group posted a full-year profit of SGD3.86 million (USD2.88 million), up 37.2% year on year (y/y), for the financial year 2015. Revenue increased 12.4% to SGD56.4 million in 2015, as compared with

  • Gener8 files for US IPO

    Gener8 Maritime has registered for an initial public offering and New York Stock Exchange listing, seeking to attract investors during a period of surging spot rates. Gener8 was created through the merger of Navig8 Crude Tankers and Peter Georgiopoulos' General Maritime, which closed on 7 May. A

  • BW Offshore profit hit by Brazil FPSO explosion

    BW Offshore, the Oslo listed floating production and storage (FPSO) vessel owner in the Singapore based BW Maritime group, has reported a sharp fall in profit in 1Q15, but says its business remains based on solid foundations. Group net profit fell to USD5.8 million in 1Q15 from USD12.7 million in

  • CNOOC overseas LNG base starts operation

    China National Offshore Oil Corporation (CNOOC), the country's largest offshore oil producer, announced on 25 May that its first overseas LNG supply base has started operation. Located in Queensland, Australia, the Curtis LNG project is expected to secure an annual LNG supply of 3.6 million tonnes for China

  • Barakah receives LOA from Shell

    Malaysia-listed Barakah Offshore Petroleum has won a contract from oil company Sarawak/Sabah Shell to supply pigs and pigging accessories and related equipment and services. Pigs are devices for cleaning and inspecting pipelines.

  • Ship recycling sales slow

    Ship recycling sales slowed last week as shipowners and cash buyers refrained from yielding to the falling prices in the face of a deluge of Capesize bulkers being offered for sale. No sales were reported last week, while prices remained steady at USD370-395/ldt in South Asia. Dubai-based cash

    FEATURED REPORT

  • 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

  • Canada won’t be rushed on ballast treatment

    Canada will not require domestic shipowners operating on the Great Lakes to equip their ships with costly ballast treatment systems until effective technology exists, Canadian transport minister Lisa Raitt said on 21 May. Canada will only require ballast treatment on the Great Lakes "once it is

Safety & Security Safety & Security

  • Pilotage behind Maersk Garonne grounding

    A communication breakdown between the pilot and the bridge crew was behind Maersk Garonne's grounding at the entrance of Fremantle harbour in February this year, a preliminary report by the Australian Transport Safety Bureau (ATSB) has found. "It was apparent that the ship's bridge crew had not

Ports Ports

  • China Merchants to take larger stake in Colombo port

    China Merchants Holdings (International) Company (CHM), a subsidiary of China Merchants Group, is discussing investment in the still-under-construction East Container Terminal with the Sri Lanka Ports Authority (SLPA). CHM is expected to get a 49% stake of the East Container Terminal at most,

Offshore Offshore

  • BW LPG upbeat after strong start to year

    BW LPG, the world's largest LPG carrier owner, has taken an upbeat view of the future after delivering strong 1Q15 figures. The company's first-quarter net profit rose to USD57.5 million this year from USD30.8 million in 2014 on a bigger fleet and firmer rates. Revenues increased to USD167.9

Companies Companies

  • Hanjin Shipping posts quarterly profit

    Hanjin Shipping returned to the black for the first quarter of 2015, and further improvement can be expected from South Korea's biggest container shipping company, said analysts in a research note. KDB Daewoo Securities' analysts Jay JH Ryu and Kim Choong-hyun said, "Hanjin Shipping's first-quarter

Markets Markets

  • Chinese firms to buy stake in Fortescue

    Chinese companies Baosteel and CITIC are poised to buy a stake in the flagging Fortescue Metals Group, according to local media, with one IHS Maritime source also saying Fortescue ore ships on order were up for sale. Speculation has been mounting in recent days that buyers are circling iron ore
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  • 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