• Zhejiang Zhenghe Shipbuilding workers on strike for salary arrears

    Workers from Zhejiang Zhenghe Shipbuilding went on strike at the entrance of the shipyard on 1 September. The shipyard sent a text message to its workers at around 10 pm on 31 August, informing them that the company will suspend its operation beginning 1 September due to financial issues, and

  • Ningbo Marine returns to black in 1H15

    Shanghai-listed Ningbo Marine posted a profit of CNY4.4 million (USD0.7 million) for the first half of 2015, returning to the black after the loss of CNY5.1 million the previous year. The company's revenue also rose 7.6% year on year (y/y) during the review period, from CNY496.4 million to CNY534.2

  • Shandong Huahai Shipbuilding goes into court receivership

    Shandong Huahai Shipbuilding, a small Chinese shipyard based in Rizhao, Shandong, went into court receivership on application of a compatriot creditor. On 30 August, the Rizhao Intermediate People's Court ruled that it would accept the application filed by Shandong Jintuo Energy for the bankruptcy

  • Jaya Holdings risks delisting after failed acquisition

    Singapore-listed defunct offshore services provider, Jaya Holdings, has terminated its proposed acquisition of Indonesian-based oil palm and timber business Izzisen Global, and faces delisting from Singapore Exchange (SGX) in three months. In its filing to SGX, the company stated that the

  • Island Offshore to postpone deliveries of three Vard newbuildings

    Island Offshore Group, the privately owned Norwegian offshore services vessel owner, and Vard Brevik, the Norwegian unit of the Italian Fincantieri shipbuilding group, have agreed to postpone the delivery of three newbuildings due to weak markets. Island Offshore has ordered three platform supply

  • NYK opens new ro-ro terminal in India

    Booming auto production in India has spawned a new ro-ro terminal that has opened in Pipavav in the northwestern state of Gujarat. The terminal is jointly operated by NYK Auto Logistics (India) and Gujarat Pipavav Port Ltd, a subsidiary of APM Terminals. The first shipment of 1,380 Figo Aspire

Ships Ships

  • Panama canal repairs to take one month

    Panama Canal officials have set aside up to one month to repair leaks discovered in August during the start of testing of the third set of locks. Speaking at the Western Dredging Association's first annual meeting of its Mexico chapter in Mexico City on 1 September, Javier Carrillo, international

Technology Technology

  • Wärtsilä to power world's first LNG dredger

    Finland-based Wärtsilä has confirmed it will supply dual-fuel LNG/diesel engines for Belgium dredging major DEME's 8,000m³ Antigoon class trailing suction hopper dredger (TSHD) Scheldt River. One of two dual-fuel (DF) TSHDs ordered by DEME, Scheldt River will be joined by the smaller Minerva, a

Safety & Security Safety & Security

  • Singapore Navy fends off sea robbery and arrests three

    The Republic of Singapore Navy successfully stopped a sea robbery from taking place in the Singapore Strait and nabbed three of the alleged robbers on 1 September 2015. Initially, the Malaysian-flagged tugboat Permata 1 sent a report to the Maritime and Port Authority of Singapore's Port Operations

Ports Ports

  • NYK opens new ro-ro terminal in India

    Booming auto production in India has spawned a new ro-ro terminal that has opened in Pipavav in the northwestern state of Gujarat. The terminal is jointly operated by NYK Auto Logistics (India) and Gujarat Pipavav Port Ltd, a subsidiary of APM Terminals. The first shipment of 1,380 Figo Aspire

Offshore Offshore

  • Subsea 7 wins USD150 million UK contract

    Subsea 7, the London-headquartered seabed-to-surface construction company, said it had won a USD150 million contract from Maersk Oil, part of the AP Moller-Maersk group in Copenhagen. The work entails a subsea, umbilical, riser, and flowline (SURF) for the Culzean development. "The ultra-high

Companies Companies

  • Euronav obtains USD750 million ship finance facility

    Antwerp-based tanker operator Euronav has signed a USD750 million financing facility with a group of leading banks that it says will be used to finance its recent order for four new VLCCs, as well as to refinance 21 vessels already in its fleet. Euronav announced in June that it was buying four

Markets Markets

  • Rough year for shipping stocks

    US-listed shipping equities have partially recovered from recent lows, but remain sharply down for the year. At the closing bell on 28 August, the 53 shipping companies listed on NYSE and NASDAQ were down 46% from their 52-week highs, according to an analysis by IHS Maritime. Over nine-tenths of
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  • Measurement measures up

    02 Sep 2015

    Monitoring fuel use aboard a vessel is a complex, careful, and vital process, both aboard and ashore. Engineering crews must know how much and what type of fuel is in the tanks (full, empty, or in between). In An introduction to fuel measurement, author Nigel Draffin successfully sets out to logically and clearly present reliable existing … more

  • Crewless ships and legal risks

    01 Sep 2015

    By Richard Clayton, chief maritime analyst, IHS Maritime & Trade Are unmanned ships safer or less safe than fully crewed vessels? Can human navigators on the bridges of dredgers perform their tasks more accurately than remote operation of dedicated dynamic positioning-dynamic tracking systems? How close are we to the fully hands-off ship? There has been … more

  • Fresh course for Philadelphia

    29 Aug 2015

    Perishables and open space are foundations for growth along the Delaware River, IHS Maritime & Trade reports Philadelphia has a range of marketing channels it intends to use in a push to increase its port business and attract new customers. Whether the commodities involved are reefer imports from South Africa, steel from Russia, or potential … more

  • Yards should heed dry market prospects

    29 Aug 2015

    By IHS Maritime’s chief maritime analyst, Richard Clayton Two years ago, DS Norden, the Danish dry bulk and product tanker company, laid out a new corporate strategy built on expectations of improved market conditions for 2014. Not unreasonably, directors wanted to position the company so that it could take advantage of an upturn. Investment was … more