• KfW IPEX-Bank finances Petredec's LPG carriers

    Germany's KfW IPEX-Bank is working with compatriot credit insurance provider Euler Hermes to provide USD186.3 million in financing Singapore-based LPG trading house Petredec for the building of four 21,000 m³ LPG carriers. There is a German component in the deal, as German-made gas and tank systems

  • Kobe port’s traffic up in March

    Cargo traffic increased by 5% in the port of Kobe, western Japan, in March from a year earlier to 8.608 million tonnes because of a big improvement in domestic trade, according to preliminary figures released by the Kobe municipal government. Of the 8.608 million tonnes, 4.536 million tonnes came

  • Europe unveils biggest-ever transport investment

    European Union port hinterland connections are set to get a EUR13.1 billion (USD14.5 billion) boost under the European Commission's largest-ever transport infrastructure investment. The plan comprises 276 projects. Major rail and inland waterway links are the main beneficiaries, but also included

  • Procal emissions analyser gains DNV GL certification

    Parker Procal has announced that its Procal 2000 emissions analyser has received DNV-GL certification. It has met the requirements of MEPC 184(59) Chapter 6 on emission testing of CO2 and SO2, as well as the requirements of the revised MARPOL Annex VI and NOx Technical Code 2008. The analyser's

  • TGS agrees to buy Polarcus’ multiclient library

    TGS NOPEC Geophysical, the multiclient geoscience data provider, has signed a letter of intent to acquire Polarcus' multiclient library, with the exception of Australia, for USD27.5 million on a cash and debt-free basis. The transaction is subject to due diligence and final definitive documents

  • Italy invokes arbitration as India further delays Enrica Lexie marines’ trial

    Italy has tired of delays in bringing to trial in India two Italian marines accused of firing on and killing two fishermen while guarding an oil tanker against piracy attack. On 26 June, the Italian foreign ministry announced that it had invoked an international arbitration procedure under the UN

Ships Ships

  • Tanker detained in Singapore

    Singapore-flagged tanker Sophie 9 was arrested in the Port of Singapore on 25 June under the instruction of local law firm Rajah & Tann. The 6,141 dwt vessel with IMO registration number of 9553270 is owned by Singapore-based DH Marine and managed by Oceanlink Services. "The vessel shall be handed

Technology Technology

  • PSA Singapore Terminals installs solar modules

    PSA Singapore Terminals has installed Solar Frontier's prototype ultralight and bendable copper-indium-diselenide (CIS) thin-film modules. The modules, designed and engineered in Japan, were installed at Pasir Panjang Terminal Building 3, PSA's newest terminal in Singapore. "PSA is pleased to be

Safety & Security Safety & Security

Ports Ports

  • Savannah sets cargo record

    Container volumes and total tonnage hit all-time records in May at the Port of Savannah. The Georgia Ports Authority (GPA) announced on 29 June that its container business grew 16.4% year-on-year in May to 338,000 teu. Bulk cargo across all terminals grew 60% to reach 256,382 tonnes.

Offshore Offshore

  • Otto Marine wins new deals worth $131m

    Singapore-listed offshore services provider Otto Marine has clinched new contracts worth USD131 million in the second quarter of 2015 amid bearish market demand. The bulk of the contracts was contributed by its chartering business, which is in line with the company's strategy of improving its fleet

Companies Companies

  • ‘Grexit’ fear hits shipping shares

    Shipping stocks are falling on the threat of a Greek debt default, but some commentators claim industry impact will be immaterial. The government of Greece placed capital controls on the banking system on 28 June. Greece faces a USD1.8 payment deadline on an International Monetary Fund on 30 June.

Markets Markets

  • Chinese moves offer short-term hope for dry bulk

    An interest rate and reserve requirement ratio cut in China is good news for the dry bulk freight market that has enjoyed recovery from all-time low levels - but that recovery is unlikely to be sustained, shipping analysts said. The People's Bank of China (PBoC) cut its one year lending rate by 25
  • 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

  • China’s yards feeling the strain

    25 Jun 2015

    Comment: IHS Maritime Chief Maritime Analyst, Richard Clayton It’s mid-year and two sections of the shipping market – dry bulk and offshore – are already stressed. Shipyards focusing on bulk carriers and platform supply vessels are watching prospects for the full year evaporate, while builders with a track record of delivering larger container ships and … more

  • US dredging: In for the long haul

    24 Jun 2015

    A Pennsylvania work site exemplifies the decades-long span of crucial US inland projects, reports IHS Maritime’s Scott Berman Two things quickly become clear when surveying the structures taking shape at the Monongahela River Locks and Dam 4 in Charleroi, Pennsylvania. First, project manager Steve Fritz of the US Army Corps of Engineers’ (USACE) Pittsburgh District … more