• Cash buyer believes ship recycling market bottoming out

    The CEO of Singapore-based cash buyer Wirana Shipping Corporation told IHS Maritime that he believes scrap prices of ships cannot fall any further and that the market should stabilise in August. Rakesh Khetan said, "It is a blood bath right now and prices are unlikely to drop further. "Many yards

  • Shanghai Shipping Exchange launches two indices on Belt and Road initiative

    The Shanghai Shipping Exchange (SSE) launched on 29 July two indices to track the trade volume and freights along the Silk Road Economic Belt and 21st Century Maritime Silk Road (Belt and Road), which were initiated by China. One of the indices, the Belt and Road Freight Trade Index (SRFTI), is

  • DP World-Toll JV to streamline container handling

    A new joint venture (JV) between DP World and Toll Logistics in Sydney, Australia could provide a container shuttle out of Port Botany and slash exports of empty boxes. The proposed 50/50 JV between Australia's biggest freight and logistics provider and its biggest stevedore announced this week

  • US inland port to boost Savannah trade

    Cargo volume through the Port of Savannah is expected to receive a lift from a new intermodal rail facility to be built 570 km inland. Plans for the USD24 million Appalachian Regional Port at Chatsworth, Georgia, were unveiled on 28 July by the Georgia Ports Authority (GPA), rail operator CSX, and

  • Finnlines posts best Q2 figures in a decade

    Passengers and freight transporter Finnlines has posted improved second-quarter results, defying an economic downturn in Finland. Although the Grimaldi Group subsidiary's second-quarter revenue slipped 5.6% to EUR135.3 million (USD149 million), its profit climbed to EUR15.8 million, up 7.3% or

  • Sembcorp Marine's Q2 profit slips 17%

    Sembcorp Marine's second-quarter net profit sagged 17% year on year to SGD109 million (USD80 million) as revenues sank at its rig-building unit. The rig-building unit's turnover dropped to SGD622.6 million for the quarter, down from SGD873.6 million in the same period last year, the Singapore-based

    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

  • Celebrity ship captain is a cruise industry first

    For the first time in the cruise industry an American female will take the helm of a mega-tonne cruise ship. San Francisco native Kate McCue will command Celebrity Cruises’ Summit, a 91,000 gt, 965-ft ship, sailing between the United States and Bermuda. McCue comes from Celebrity’s

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

  • Seafarer charity blasts US visa demands

    Seafarers who fail to obtain shore leave in the US are generally stuck on their ships by visa issues, according to a new survey. The issue was highlighted by the 14th annual Shore Leave Survey, released on 28 July by the Seamen's Church Institute (SCI) Center for Seafarers' Rights. But the US's

Ports Ports

  • Townsville set for $403m upgrade as Australian trade shifts north

    Australia's Port of Townsville is set to receive a AUD55 million (USD403 million) berth upgrade, opening the way for 4,500 teu Panamax vessels to access to the port. The upgrade to berth 4 would add 20% to port tonnage throughput and enable another 2 million tonnes of product to trade through the

Offshore Offshore

  • News insight: Greece looks offshore

    The offshore sector has not so far been a factor in Greece’s rich maritime history, but the country’s debt crunch could change that. Greece’s government said on 14 July that it has received three bids for undersea acreage in western and southern Greece. The names of the bidders

Companies Companies

  • Scorpio continues buying spree

    NYSE-listed Scorpio Tankers has finalised more newbuildings orders as it reports second-quarter results that exceeded analysts' forecasts. From Hyundai Mipo, the Emmanuele Lauro-led company has ordered two MR product tankers, each priced at USD34.5 million, and two Handymax product tankers, each

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