• Port of Osaka’s cargo traffic falls in May

    Cargo traffic at Port of Osaka in western Japan fell 13.9% year on year (y/y) in May to 6.205 million tonnes as both domestic trade and foreign trade shrank sharply. The preliminary figures were released by the Osaka municipal government on 31 August. Of the total cargo traffic in May, 2.721

  • CMHI's 1H profits up 29%

    China Merchants Holdings (International) (CMHI)'s profits have risen 29% year on year (y/y) to HKD2.8 billion (USD361.3 million) in the first six months of 2015 due to a growth in port-related manufacturing operations. Profits derived from the group's core ports operation grew 10% y/y to HKD2.4

  • Star Bulk losses widen

    Star Bulk has reported escalating quarterly losses as it continues to downsize its fleet. The NASDAQ-listed dry bulk company posted a net loss of USD65 million for the second quarter of 2015 (2Q15) versus a net loss of USD3 million in 2Q14. Excluding non-cash items (losses from vessel sales and

  • 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

  • CMA CGM Q2 profit up 67%

    French container line operator CMA CGM showed "strong and profitable growth" in the second quarter as consolidated net profit rose 67% year on year to USD 156 million. Group revenues dipped 2.1% to USD 4.11 billion despite carryings up 6.2% to 3.3 million teu but the group said that a 10.9%

  • Swire Shipping expands its Asia Pacific service

    Swire Shipping announced today it would be expanding two key services in the Asia Pacific linking New Zealand, Australia and Papua New Guinea, at the same time rebooting its Australia-South East Asia service. The China Navigation Company liner division will upgrade services out of Brisbane to New

Ships Ships

  • 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

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

  • Indonesian Navy arrests tanker hijacking suspect

    The Indonesian Navy has arrested the alleged "mastermind" it says was behind the hijacking of the Malaysia-flagged oil tanker MT Orkim Harmony in June. According to the Indonesian Navy, a suspect identified as Albert Yohanes was apprehended at an apartment in Grogol Petamburan, West Jakarta, by the

Ports Ports

  • Rotterdam considers joint venture in Indonesian port project

    The port of Rotterdam has gone into partnership with Indonesian port corporation Pelinda 1 on the planned new Kuala Tanjung deep water port near the city of Medan in North Sumatra in the Strait of Malacca. The Dutch port and Pelinda 1 have agreed to carry out a joint feasibility study into the

Offshore Offshore

  • Sembcorp Marine wins $1Bn North Sea job

    Singapore-listed offshore services provider Sembcorp Marine has won an engineering, procurement and construction (EPC) contract worth over USD1 billion for the Culzean field development project in the North Sea. The contract was signed by its subsidiary SOME with Maersk Oil North Sea UK to build a

Companies Companies

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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  • 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