• Panama Canal suspends draught restriction

    Rainfall has eliminated the need for a planned draught restriction of up to 11.89 m (39 ft) through the Panama Canal. Suspension of the restriction, which was set to go into effect on 8 September, was announced by the Panama Canal Authority (ACP) on 28 August. "Although the level of Gatun Lake is

  • Florida ports prepare for Erika

    Gale force winds generated by Tropical Storm Erika could force Florida container ports to close, US officials have warned. Austin Gould, the US Coast Guard Captain of the Port (COPT) for the Port of Miami, on 27 August set port readiness at 'Whiskey' - a condition in which gale force winds are

  • Bollore consortium wins Kribi box terminal concession

    A consortium comprising Bolloré Africa Logistics, CMA CGM, and China Harbour Engineering Company (CHEC) has been awarded the coveted 20-year concession to operate the new container terminal at the deepwater port of Kribi in Cameroon. A source close to the consortium told IHS Maritime that

  • Restructured Team Tankers seeks growth

    Oslo-listed chemical carrier group Team Tankers International says it is seeking growth opportunities after restructuring its business and gaining a strong balance sheet. "As a result of the restructuring on 27 January 2015, the debt leverage of the company's balance sheet is currently one of the

  • US exports lift bullish BW LPG’s interims

    BW LPG, the world's largest VLGC operator, has reported a rise in interim results on the back of strong US exports and Asian imports, while the outlook remains bullish, the company said in a statement. Group net profit in 2Q15 rose to USD80.6 million from USD72.4 million in the same period last

  • CSSC Holdings profit up 43% yoy in 1H15

    Shanghai-listed CSSC Holdings, the flagship listed unit of China State Shipbuilding Corporation (CSSC), posted a 43% rise in profit to CNY171.7 million (USD26.8 million) in the first six months in 2015 from a year ago. This increase was largely due to higher revenues from newbuildings. Revenues

    FEATURED REPORT

  • Comment: Shipping people's power

    Do shipping people influence decisions? That’s the most intriguing question asked of delegates to the Maritime Cyprus conference to be held next month, IHS Maritime & Trade reports.
  • Comment: Japan’s offshore resources

    In 1875, the Japanese patrol vessel Meiji Maru dropped anchor off one of a group of uninhabited islands about 1,000 km south of Tokyo.
    The significance of the ship’s arrival – on 20 July, fully two days ahead of a British claimant – has not gone unnoticed to the current Japanese government.

    Image: Volcanic smoke from Nishinoshima island, one of the Ogasawaras. Photo: PA

Ships Ships

  • Uni-Asia forms JVs to grow dry bulk fleet

    Singapore-listed investment company Uni-Asia Holdings has formed four new joint ventures (JVs) with its major shareholder Yamasa to acquire four newbuilding Handysize bulk carriers. All four JV companies are incorporated in Panama and are known as Stella Bulkship, Tiara Bulkship, Unicorn Bulkship,

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

  • Senior Tianjin official dies after building fall

    Dong Yongcun, director of the administrative approval department of Tianjin Transport Committee, died on 26 August after falling from the office building. The reason for his fall is still under investigation and no official statement on Dong's death from the committee has been released, according

Ports Ports

  • Erika closes Puerto Rico ports

    Eastern and northern ports in Puerto Rico were closed early on 27 August by the US Coast Guard (USCG) due to the passing of Tropical Storm Erika. Ports that are affected by closure conditions, known as Port Condition Zulu, must suspend operations and are closed to all inbound and outbound vessel

Offshore Offshore

  • Hoegh LNG sees strengthening demand for FSRUs

    Hoegh LNG, the listed LNG carrier and floating storage and regasification unit (FSRU) owner in the Leif Hoegh group of Norway, sees strengthening demand for FSRUs. The group, which owns four FSRUs and five LNG carriers, reported a 2Q15 net profit of USD 5.9 million compared to a loss of USD8.6

Companies Companies

  • CSCL's 1H15 profit down 97%

    China Shipping Container Lines (CSCL)'s profit plunged 97% year on year (y/y) to CNY14.3 million (USD2.2 million) in the first six months of 2015 because of less investment income. CSCL's revenue fell 9% y/y to CNY16.0 billion during the same period because of falling shipping freight rates, a

Markets Markets

  • BHP profits dive 86.2% as Australia wins ore war

    BHP Billiton recorded an 86.2% profit plunge this week in its FY 2015 report, down USD1.91 billion. Following on similar profit slumps from miners Rio Tinto and Fortescue earlier this month, the company blamed the fall on lower commodity prices. However, it remained upbeat on weathering the storm,
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  • 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

  • Comment: Shipping people’s power

    29 Aug 2015

    Do shipping people influence decisions? That’s the most intriguing question asked of delegates to the Maritime Cyprus conference to be held next month, IHS Maritime & Trade reports It might be asked of Andreas Chrysostomou, whose bid to become secretary-general of the International Maritime Organization (IMO) proved not strong enough. Was his bid derailed by … more

  • London underwriters focus on Iran, but step with care

    22 Aug 2015

    Marine insurers face dilemma on Iranian business ties, as sanctions are not yet lifted, IHS Maritime & Trade reports. Insurers are being approached with potential business from Iran even though the lifting of Western sanctions is not expected to become a reality until 2016. The return of Iran into the global business community would open … more