• Valemaxes allowed to dock at Chinese ore terminals

    Five iron ore terminals in China have been granted permission by the Ministry of Transport (MOT) to allow docking by 400,000 dwt Valemax-class bulk carriers, a ministry circular said on 2 July. The terminals are Dagushan port area in Dalian with one berth, Caofeidian port area in Tangshan with two

  • Australia's Atlas Iron steps back from financial brink

    Northwest Australian iron ore company Atlas Iron has refinanced and reopened its mines, it announced on 2 July. Reporting to the Australian Securities Commission, Atlas said the last of the three mines it shut down in April had reopened. Mining operations have restarted at its Mount Webber mine in

  • Canadian asset manager makes multi-billion dollar bid for Australia’s Asciano

    Toronto-based asset manager Brookfield Infrastructure Group has made an AUD9 billion (USD6.9 billion) offer for Australia's Asciano logistics company and its Patrick shipping container terminals. In response to media speculation, Asciano asked the Australian Securities Exchange (ASX) on 1 July for

  • Court seals DS Torm restructuring programme

    The High Court in England has approved the restructuring programme of DS Torm, the listed Danish product tanker operator has announced. In a statement, Torm said it had obtained the creditor consents it needed for restructuring with "an English law Scheme of Arrangement" sanctioned by the High

  • Frontline and Frontline 2012 agree to merge

    Frontline, the listed VLCC and Suezmax operator in John Fredriksen's business empire, and its spin-off Frontline 2012 have agreed to merge. The merged company, Frontline, will remain listed in Oslo, London, and New York. Shares in Frontline 2012 are currently traded on the over-the-counter (OTC)

  • Sinotrans&CSC to dispose of shareholdings in Changhang Phoenix

    Sinotrans&CSC plans to raise at least CNY1 billion (USD161 million) by selling all its shareholdings in Changhang Phoenix in a public tender. The selling price is set at minimum CNY5.53 per share, a stock filing of Changhang Phoenix said on 2 July. Sinotrans&CSC currently owns 17.89% of Changhang

Ships Ships

  • TUI Cruises orders two more ships at Meyer Turku

    TUI Cruises, which is a joint venture between the German tour operating company TUI and Royal Caribbean Cruises, Ltd (RCCL), which is the world's second largest cruise shipping company, says it has ordered two ships at Meyer Turku Shipyard in Finland. "TUI Cruises GmbH and Meyer Turku Oy signed an

Technology Technology

  • Wärtsilä tunnel thruster approval

    Wärtsilä has successfully obtained a Lloyd's Register (LR) 'Type Approval' Certificate for the Wärtsilä WTT11 tunnel thruster, which means the unit will not have to undergo a design review for each individual vessel or hull number. Wärtsilä says approval certification will also mean cost savings, as

Safety & Security Safety & Security

  • MERS prompts warning over charterparty wording

    The outbreak of the Middle East Respiratory Syndrome (MERS) in South Korea once again highlights the need for clauses tied to contagious diseases in charterparty agreements, law firm Clyde & Co has warned. In a commentary released on 2 July, Clyde & Co's Singapore-based partner and chief

Ports Ports

  • China welcomes first Valemax in two years

    China Ore Shipping-owned Valemax Yuan Zhuo Hai arrived at the anchorage of Qingdao on 30 June, and is expected to call at Dongjiakou port, marking an end to the government's 2012 decision to ban Valemaxes from Chinese ports. Before the ban was imposed, Valemaxes were only allowed to call at Chinese

Offshore Offshore

  • Sembcorp Marine chooses Technip for topside EPC

    Singapore shipbuilder Sembcorp Marine has appointed French engineering firm Technip to handle engineering, procurement, and construction (EPC) for the topsides of a floating production, storage, and offloading (FPSO) vessel it is working on. Sembmarine's Jurong shipyard is currently working on

Companies Companies

  • Yangzijiang Shipbuilding appoints new vice-general manager

    Singapore-listed Yangzijiang Shibbuilding has appointed Zhang Tao as the company's vice-general manager in charge of operations. Zhang was formerly the administrative deputy general manager of China Shipbuilding Industry Corporation (CSIC) from March 2011, and is the youngest executive from a

Markets Markets

  • Hyundai yards, DSME to gain from cheaper oil

    The collapse in oil prices and the subsequent growth in oil consumption would benefit Hyundai's shipbuilders and Daewoo Shipbuilding & Marine Engineering (DSME) as they construct oil and product tankers, a sector analyst has opined. JP Morgan analyst Lee Sok-je noted that the crude tanker market
  • Fibrelight releases improved recovery cradle

    30 Jun 2015

    The Fibrelight mass casualty recovery (MCR) cradle, which is produced and distributed by CQC, has been designed to meet changing customer and safety requirements, reports IHS Maritime. These changes have come about in operations, primarily in the North Sea, and are centred on SOLAS Regulation 111/17-1. This requires plans and procedures for the recovery of … more

  • Dredging insight: China at a turning point

    30 Jun 2015

    China’s slowing economy has led to port development projects being delayed as operating companies start to leverage more powerful IT software and more focused management expertise, writes IHS Maritime’s chief analyst, Richard Clayton. This marks a turning point for the country’s port sector, Ningbo Port Group’s chief economist Tong Mengda told the Intermodal Asia 2015 … more

  • Japan’s LPG import growth squeezed

    29 Jun 2015

    Mature economy and other energy sources limit Japan’s LPG demand growth, IHS Maritime reports. Japan is the world’s biggest importer of liquefied petroleum gas (LPG), but its demand appears to have matured. Speaking at the recent IHS Asia LPG Seminar in Singapore, Astomos Energy Corporation’s deputy general manager Kentaro Harada said that growing use of … more

  • Port of refuge: myth and reality

    27 Jun 2015

    Appointing a port of refuge for salvage operations carries a series of challenges, reports IHS Maritime’s Titus Zheng. In the world of ship salvage, assignment of a port of refuge is often a sensitive topic because of the environmental impact and political issues that it involves. The International Maritime Organization (IMO) adopted two resolutions in … more