• Container freight rates fell again in January

    Container freight rates fell for the second month in a row in January, figures released today by UK-based consultancy Container Trade Statistics (CTS) have revealed. The rates dropped by one point to 81 in January following the previous one-point dip in December 2014 on the previous month. The

  • Concerns mount over Chinese iron ore imports

    The price of iron ore fell to a six-year low yesterday on the back of fears of weaker than expected economic growth in China, while the ongoing decline in the link between the growth and steel production there raises further concerns for dry bulk shipping, senior shipping analysts reported. Ore

  • Sainty Marine offers guarantee for subsidiary yard

    Shenzhen-listed Sainty Marine will offer a guarantee for a combined fund of CNY145 million (USD23 million) for Sainty Shipbuilding (Yangzhou), its major shipbuilding subsidiary based in Yangzhou. Sainty Shipbuilding (Yangzhou) is planning to sell and lease back its production facilities from AVIC

  • NYK devises energy-saving adjustments for box ships

    Japan's Nippon Yusen Kabushiki Kaisha (NYK) and its subsidiary Monohakobi Technology Institute (MTI) have made energy-saving adjustments for container ships. The adjustments resulted in lowering carbon dioxide (CO2) emissions by 23% over six months, beating pre-test estimates. To reduce energy

  • Alam Maritim wins Petronas Carigali charter contract

    Malaysia-listed offshore services provider Alam Maritim Resources has secured a contract from oil company Petronas Carigali for the provision of spot charter marine vessels. The contract was signed for the duration of two years effective until 8 January 2017 with an extension option of one year

  • EMAS Offshore sets up USD500 mil. debt issuance programme

    Singapore-listed offshore services provider EMAS Offshore has set up a USD500 million multicurrency debt issuance programme and has appointed Singapore-based DBS Bank as its sole arranger and dealer. According to EMAS Offshore's filing in the Singapore Stock Exchange, the debt issuance programme

Ships Ships

  • NYK Line expands intra-Asia service

    Japan's second-biggest shipping company, Nippon Yusen Kabushiki Kaisha (NYK Line), is tapping into the growing intra-Asia market. The company announced on 3 March that it will add a new service between Japan, Thailand, and Vietnam. This will be the second service that NYK Line offers between those

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

  • Colombia detains COSCO vessel over illegal arms

    COSCO's heavy-lift ship Da Dan Xia was detained in Cartagena by Colombian authorities on 4 March for carrying illegal weapons. About 100 tonnes of gunpowder, 2.6 million detonators, 99 projectiles, and about 3,000 cannon shells were found on the Hong Kong-flagged ship, which was bound for Cuba,

Ports Ports

  • ICTSI gross revenue up 24%

    Singapore-listed port operator International Container Terminal Services (ICTSI) posted a 24% full-year gross revenue increase for the financial year ended 31 December 2014, due to higher contribution from newer business units. ICTSI hiked 6% year on year (y/y) to USD191.5 million in FY 2014,

Offshore Offshore

  • HHIC bags orders for two LPG carriers

    South Korean shipbuilder Hanjin Heavy Industries & Construction (HCIC) has won orders for two LPG carriers. The price of the two carriers is KRW114.9 billion (USD104.166 million), working out to USD52.83 million per ship, said the company in its Korea Exchange filing. HHIC told IHS Maritime that

Companies Companies

  • SeaLand confronts Latin American challenges

    SeaLand CEO Craig Mygatt is determined to build up his fledgling Latin American container service amid a steep downturn in many of the region's economies. SeaLand, the Americas-centric offshoot of Maersk Line, began covering the north-south trades and intra-regional routes in January. But Mygatt

Markets Markets

  • Insight: Investors continue to find opportunities in shipping

    Despite setbacks in dry bulk and other sectors, investors will continue to seek and find opportunities in shipping, according Jeff Pribor, global head of maritime investment banking at Jefferies. During an in-depth interview with IHS Maritime’s Greg Miller on 28 February, Pribor – one of
  • Right time, right place

    01 Mar 2015

    Captain Andrey Voloshin wanted a hydrocarbon shipping safety revolution. He describes his journey to start one. IHS Maritime’s Girija Shettar reports As a Ukrainian former master mariner, Andrey Voloshin was in the best position to know what goes on aboard oil tankers, beyond the hype of annual reports claiming declining levels of accidents and incidents. … more

  • We are all ambassadors

    01 Mar 2015

    What can shipping learn from Costco, asks IHS Maritime’s Richard Clayton James Sinegal is not widely known in shipping circles, but as co-founder and former chief executive at Costco, the Washington state headquartered membership-only warehouse club, his thought leadership hits the spot time and again. I was reminded of his wisdom last week when I … more

  • 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