• Carnival shares surge on strong profits

    Cruise giant Carnival Corp has announced better-than-expected 1Q15 results, prompting its NYSE-listed stock to rise in heavy trading. Carnival reported net income of USD49 million for 1Q15 versus a net loss of USD20 million in 1Q14. Excluding non-cash items, Carnival had adjusted net income of

  • ‘K’ Line executive jailed for price-fixing scam

    Japanese shipping executive Toru Otoda has been sentenced to 18 months in a United States prison and fined USD20,000 after admitting taking part in a scheme to rig bids and fix prices on ro-ro cargo. Otoda, a general manager of the car carrier division of Kawasaki Kisen Kaisha ('K' Line), conspired

  • Cross-Med container service upgraded

    Italian shortsea container carrier Tarros and Turkish ship operator Arkas Line have upgraded their joint intra-Mediterranean service by adding a fifth vessel - the geared 1,736 teu EM Spetses. Marketed as 'Great Pendulum Service' (GPS) by La Spezia-based Tarros, the loop connects ports across the

  • China clears way for auction of arrested bareboat charter vessels

    China's Supreme People's Court has made it clear for the first time that arrested vessels on bareboat chartering can be auctioned at the request of creditors. The new ruling came as the latest sign that China's maritime courts are tapping into international conventions in their trials. Before

  • Golden Ocean, Knightsbridge shareholders approve merger

    Shareholders of Golden Ocean Group and Knightsbridge Shipping, both listed dry bulk carrier operators in John Fredriksen's business empire, have agreed to a proposed merger. The new company will be called Golden Ocean Group Limited and its shares will be listed on both the New York and the Oslo

  • India fears the pirates it cannot prosecute

    Somali pirates are moving closer to India, defence minister Manohar Parrikar has claimed. "Somali pirates … are shifting their locations towards India. Because their [shipping] lanes are heavily guarded, they have slightly moved to this side. They are still 450 n miles away from India," he

Ships Ships

  • Cosco Zhoushan wins up to seven Maersk boxships

    Chinese shipbuilder Cosco Zhoushan Shipyard has won an order for up to seven ice-class containerships from Denmark's Maersk Line, which will be a first for the shipbuilder in the construction of containerships. The order is for five 3,600 teu feederships with an overall length of 200 m and the

Technology Technology

  • Impact of ‘Big data’ debated

    The benefits of 'Big data' to ship classification were highlighted at the Connecticut Maritime Association conference, but some industry insiders remain sceptical. "Big data will transform the way we think and the way we work. It will ensure the right information will go to the right people at the

Safety & Security Safety & Security

  • Sewol victims' families urge prompt salvage

    Families of the nine Sewol victims who remain missing have urged the government to hoist the vessel ahead of the first anniversary of the tragedy on 16 April. On that date last year, Sewol, carrying 476 passengers and crew, capsized during a routine Incheon-Jeju trip. More than 300 of them were

Ports Ports

  • Ports shut, oil price up as Yemen descends into chaos

    Yemen sank further into chaos as Saudi Arabia led an aerial assault on Houthi rebels this morning. All the country’s ports have been closed. In its Operation Decisive Storm, the 10-state Saudi-led coalition launched air strikes on Yemen’s Houthi-held capital, Sana’a. Reuters

Offshore Offshore

  • RINA updates offshore platform rules

    The Italian classification group RINA has updated its offshore platform rules in response to growing industry challenges in the offshore sector, it announced today. The rules and guidance provide a comprehensive guide to classification, certification, and verification of fixed offshore oil and gas

Companies Companies

  • Hapag posts USD660 million loss

    German container line Hapag-Lloyd closed 2014 with a huge net loss of EUR604 million (USD662 million) despite solid cargo volume growth and savings from lower fuel costs. The result marks a sharp deterioration from 2013 when the line lost EUR97 million. The company blamed the loss on special items

Markets Markets

  • Asian medium-range tanker rates under pressure

    After surging to a near seven-year high last week, medium-range (MR) tanker freight rates have been easing off this week. As of 26 March, the Baltic Exchange assessed the Singapore-Japan rate at Worldscale 149.06 or USD15,208 per day, down from W156.88 or USD16,778 per day a week ago. The South
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  • Petrobras plagued by corruption scandal

    27 Mar 2015

    How shipping is exposed to ‘perfect storm’ at Petrobas IHS Maritime’s Greg Miller reports Fallout from the spiralling scandal at Petrobras has already begun. Shipping debt linked to the Brazilian oil major is under scrutiny, the press has written about alleged bribes by shipping, and concerns are rising over Petrobras’ future chartering appetite. In the … more

  • Funding our ambassadors

    21 Mar 2015

    IHS Maritime’s Richard Clayton looks at Singapore’s Maritime Cluster Fund In an IHS Maritime Fairplay opinion column at the end of February, I suggested that rather than each IMO member state appointing its own maritime ambassador, we should all consider ourselves ambassadors. That would make us all responsible for promoting the industry among those we … more

  • IADC 50th anniversary interview: Keeping maritime moving

    17 Mar 2015

    As the International Association of Dredging Companies (IADC) approaches its half-century, Lisa Maher asks Secretary General René Kolman about its celebrations, communications and concerns With a degree in economics and an innate interest in ports and maritime trade, Secretary General René Kolman joined the association based in The Hague, the Netherlands, back in 2008 from a landscape … more

  • Gone, and almost forgotten

    16 Mar 2015

    IHS Maritime’s Stephen Spark looks back at Senegal’s Le Joola ferry disaster History, and memory, can be fickle. The loss of 1,517 lives in the sinking of Titanic has been recalled in countless books, exhibitions and films. However, the greatest death toll – 4,386 in all – resulted from the loss of Manila-bound ferry Doña Paz in 1987. Between … more