• Yinson posts full-year profit up 75%

    Malaysia-listed offshore marine services provider Yinson Holdings posted a full-year profit of MYR251.1 million (USD68.1 million) for the financial year that ended on 31 January 2015, up 75% from its MYR143.1 million profit for the previous year. The increase in profit is supported by higher

  • China Shipping Development back in profit

    Shanghai- and Hong Kong-listed China Shipping Development announced on 26 March that the company has recorded profit of CNY309 million (USD49.6 million) for 2014, returning to black from the loss of CNY2.23 billion in 2013. The company's revenue stood at CNY12.27 billion, representing an increase

  • Offshore insight: OSVs defy bear market

    Many shipowners in the offshore sector are struggling to stay afloat amid the market downturn, but a group of offshore support vessel (OSV) companies are defying the odds. They are capitalising on expansion and investment opportunities, which are generating strong profits despite the sector’s

  • Epic Gas sells two ships

    Singapore-based pressurised gas carrier owner Epic Gas has sold two of its older ships. The company said 1997-built Epic Cebu and 1996-built Cefalu have been sold to buyers engaged in Southeast Asian cabotage trades. Epic Gas said, "The transaction demonstrates Epic's commitment to proactively

  • Japan's toluene exports hit record high

    Japan's exports of toluene hit a record high of 98,400 tonnes in January this year, according to data compiled by IHS Chemical. The amount beat the previous high of 73,700 tonnes in January 2014. Japan's toluene exports have been boosted by demand from the paraxylene plant that opened in Ulsan,

  • Port of Tokyo joins Environmental Ship Index

    Port of Tokyo announced on 27 March that it will become the first Japanese port to join the international Environmental Ship Index (ESI) programme, which provides incentives to environment friendly oceangoing ships. According to the Tokyo metropolitan government, Port of Tokyo, Japan's largest

Ships Ships

  • Epic Gas sells two ships

    Singapore-based pressurised gas carrier owner Epic Gas has sold two of its older ships. The company said 1997-built Epic Cebu and 1996-built Cefalu have been sold to buyers engaged in Southeast Asian cabotage trades. Epic Gas said, "The transaction demonstrates Epic's commitment to proactively

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

  • China MSA tells Chinese ships to avoid seas off Yemen

    China's Maritime Safety Administration (MSA) issued a safety alert to Chinese carriers over the weekend that they should immediately notify their vessels to avoid the seas off Yemen due to the continuing political crisis in the country. All the relevant Chinese carriers should emphasise relevant

Ports Ports

  • Shanghai International Port Group profit up 29%

    Shanghai-listed Shanghai International Port Group (SIPG) announced on 28 March that it recorded a profit of CNY6.77 billion (USD1.09 billion) for 2014, up 28.75% compared with 2013. The company's revenue last year totalled CNY28.78 billion, growing by 2.19% from CNY28.26 billion in 2013, and its

Offshore Offshore

Companies Companies

  • China Shipping Development back in profit

    Shanghai- and Hong Kong-listed China Shipping Development announced on 26 March that the company has recorded profit of CNY309 million (USD49.6 million) for 2014, returning to black from the loss of CNY2.23 billion in 2013. The company's revenue stood at CNY12.27 billion, representing an increase

Markets Markets

  • Buying trend returns to ship recycling markets

    Cash buyers showed a willingness to acquire ships for demolition last week, amid talks that the Indian government would impose import taxes on Chinese steel. Improving local steel prices and a stabilising Indian rupee also saw scrap prices rising by at least USD20/ldt. Dubai-based cash buyer
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  • Offshore project vessels make waves in China

    29 Mar 2015

    A massive wind energy growth strategy is fuelling demand for high-tech vessels, IHS Maritime’s Dexter Yan reports China’s ambitious offshore power goals are set to unleash a huge demand for special ships that are needed to install gigantic windmills at sea. Wind power installation vessels, which are still perceived as a niche market in China, … more

  • Insight: China iron ore imports boom

    28 Mar 2015

    IHS Maritime’s Angela Yu looks at China’s iron ore import boom Ore imports to China from Australia, west Africa and Brazil all increased last year, while import volumes from Malaysia, Mongolia, and Iran all dropped. The 548 million tonnes of iron ore imported last year to China from Australia represented an increase of 31.5% year-on-year. … more

  • Cruise guests under attack

    28 Mar 2015

    IHS Maritime’s Richard Clayton looks at the response of the two cruise ship companies in the wake of the Tunis terror attacks We don’t often write about shipping companies’ safety and security teams unless they are caught off guard. They don’t appear on promotional material nor do they have their own dropdown box on a … more

  • 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