• Scorpio Bulkers takes big financial hit

    NYSE-listed Scorpio Bulkers has booked a major write-down on divested newbuilding contracts and remaining orders held for sale. The Emanuele Lauro-led company posted a net loss of USD138.6 million for 2Q15 versus a loss of USD15 million in 2Q14. Excluding one-time items, the adjusted net loss was

  • US standardises marine casualty reporting

    US regulators have issued guidance to help simplify marine casualty reporting compliance for shipowners and operators. In its Navigation and Vessel Inspection Circular 01-15, the US Coast Guard noted that due to the complexity of marine casualty reporting and inconsistent enforcement, "additional

  • SBM Offshore completes biggest ever FPSO financing

    Netherlands-based SBM Offshore has completed the USD1.55 billion financing of the FPSO Cidade de Saquarema - the largest project financing ever organised by the group. The new financing package, which involves loans from 16 international banks and insurance cover from four export credit agencies,

  • Toll group sets up logistics hub at Singapore mega-port

    Australian logistics provider Toll Group is to build a hub in Singapore to capitalise on the new mega-port coming to the western part of the city-state. On 27 July, Toll, now part of Japan Post, said it would build a 100,000 m² Toll City logistics hub in Singapore's Tuas industrial estate, where

  • No crew deaths on UK vessels for first time in 50 years

    Last year saw the first time no seafarers died aboard UK flagged vessels over 100 gt, the Marine Accident Investigation Branch reported. Before 2014, UK vessels averaged four deaths per year for the past decade, the MAIB said in its annual report released on 27 July. The MAIB's records go back 50

  • Profit sharing boosts Navios Midstream

    Angeliki Frangou-led VLCC owner Navios Midstream Partners has reported strong profits in its latest quarter and cited increased chartering activity in the market. NYSE-listed Navios Midstream posted net income of USD5.4 million and adjusted net income of USD7.1 million for 2Q15. The partnership was

    FEATURED REPORT

  • IMO lessons from Tokyo

    The International Maritime Organization (IMO) is looking to increase maritime awareness worldwide by introducing a range of new initiatives, writes HIS Maritime’s Richard Clayton.
  • A gender-fair career at sea

    If shipping is to increase the number of female seafarers, a change of mindset is needed as well as the right conditions.

    Photo: Researcher Momoko Kitada says reluctant shipowners are denying onboard training opportunities to women seafarers.

Ships Ships

  • CMA CGM takes delivery of biggest Chinese-built box carrier

    French container line operator CMA CGM has taken delivery of the biggest container carrier ever built by a Chinese yard. The 18,000 teu Vasco de Gama, which measures 399 m by 54 m, was handed over to the Marseilles-based group yesterday by China State Shipbuilding Corporation (CSSC). It is the

Technology Technology

  • Singapore invites proposals for LNG bunkering

    Singapore is inviting interested parties to apply for a licence to supply LNG fuel to ships in its waters. In their submissions to the Maritime and Port Authority of Singapore (MPA), applicants must propose an LNG bunkering supply solution. This should include how the applicant will procure and

Safety & Security Safety & Security

  • Turkish ship accused of fleeing Malta arrest

    A Turkish-registered general cargo ship has been accused of fleeing arrest in Malta over an unpaid bunkering bill. Several local Maltese news sites reported that 1993-built Feyza Genc allegedly left Malta at night after being detained by the coastguard over a EUR45,000 (USD49,715) unpaid bill due

Ports Ports

  • Egypt to dredge access for APM’s Suez Canal terminal

    Egypt has finally agreed to widen and deepen a channel giving APMT's Suez Canal Container Terminal (SCCT) direct access to the shipping canal's northern end, after balking at the cost for a number of years. Last weekend, as the Suez Canal Authority (SCA) held a successful two-way traffic trial in

Offshore Offshore

  • Keppel wins third FLNG conversion from Golar LNG

    Singapore's Keppel Shipyard has won a third contract worth USD684 million from Golar LNG to convert an LNG carrier into a floating LNG (FLNG) vessel. The contract, involving the conversion of LNG carrier Gandria, is the exercising of the second of two options, after the first option, involving the

Companies Companies

  • Statoil trims 2015 capex by USD500 million in 2Q report

    Norwegian oil company Statoil announced in its 2Q15 interim results statement today that it will trim its 2015 capital expenditure by USD500 million from an earlier forecast to an expected USD17.5 billion. It was the second time this year the company reduced its 2015 capital expenditure plans

Markets Markets

  • Don't rush to build oil tankers, says shipbroker

    Despite the positive sentiment surrounding oil tanker freight rates, caution should be exercised before building new ships, Italian shipbroker Banchero Costa cautioned. The tanker market has continued its strong performance in the first half of 2015, riding on positive sentiment. Very large crude
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  • Iran’s crude equation

    28 Jul 2015

    An end to Iranian sanctions offers both positives and negatives for crude tanker owners, reports Greg Miller Is the historic nuclear deal with Iran good or bad for crude tanker rates, and if so, when? The answer hinges on a complex equation that will evolve over time. There are five key variables: the timing of … more

  • IMO lessons from Tokyo

    27 Jul 2015

    The International Maritime Organization (IMO) is looking to increase maritime awareness worldwide by introducing a range of new initiatives, writes IHS Maritime’s Richard Clayton. The International Maritime Organization (IMO) chose maritime training and education as its theme for World Maritime Day this year. A symposium with that focus was held in Tokyo, on Japan’s 20th national … more

  • Ports plan has to win over the disruptors

    26 Jul 2015

    The investment outlook for India’s major ports looks positive, but the route of corporatisation threatens extensive disruption India has an 8% target growth rate for 2015/16, and a key element of this growth is infrastructure and logistics development. ‘Corporatisation’ of India’s ‘major’, or public, ports – turning them from public trusts into companies – is … more

  • A gender-fair career at sea

    25 Jul 2015

    If shipping is to increase the number of female seafarers, a change of mindset is needed as well as the right conditions From football to space science, women’s achievements in professions that have long been regarded as male-only domains are winning greater global recognition year after year. Merchant seafaring may, in time, prove to be … more