• UK energy mix powered by gas

    The UK will have closed its ageing fleet of nuclear power stations and all its coal-fired power stations by 2025, Stephen Lovegrove has confirmed. These two sources currently account for 22% and 35% of power generation. "We are right in the middle of attracting an unprecedented amount of

  • MISC refutes AET Tankers sale talk

    Malaysian shipping group MISC has refuted rumours that it could sell its subsidiary AET Tankers. As early as last year, there was talk that MISC would sell AET Tankers so it could focus on LNG shipping. At that time, oil tanker rates were still low. In 2011, MISC exited the container shipping

  • Rickmers Maritime Trust profit down 29% in 1Q15

    Singapore-listed Rickmers Maritime Trust saw its 1Q15 profit drop 29% year-on-year to USD7.03 million. The trust, led by Thomas Preben Hansen, cited lower charter rates on six ships. Five of those ships were redelivered during the 2014, and one vessel was redelivered in 1Q15. The trust secured new

  • TIPC partners with Japan’s Naha port

    Taiwan International Ports Corporation (TIPC) on 21 April inked a memorandum of understanding (MOU) with Japan's Naha port to enhance co-operation. This is TIPC's first MOU with a Japanese port, which aims to seek new opportunities for shipping services between Japan and Taiwan. Currently, Taiwan

  • Colombia releases Chinese ship, holds captain

    Colombia has freed Da Dan Xia, COSCO Shipping's heavy-lift vessel involved in an illegal arms transport, and has ordered the ship to head to Havana, Cuba, on 21 April. The ship was detained in Cartagena by Colombian authorities in March this year for carrying illegal weapons. Approximately 100

  • Hong Kong terminal calls for joint effort to curb throughput drop

    Hongkong International Terminals (HIT) has called for joint efforts to address a year-on-year (y/y) drop of 9.8% in throughput at Kwai Tsing container port. The drop in throughput at the port during the first quarter of 2015 combined with uncertainties in the global economy and international trade

Ships Ships

  • MOL orders four car carriers

    Mitsui OSK Lines (MOL) announced that it has signed a contract with Minaminippon Shipbuilding to construct four next-generation car carriers. The vessels will be delivered in 2017 and 2018, a statement of the company said on 23 April. The capacity of each vessel is 6,800 units of standard passenger

Technology Technology

  • Singapore to invest more in maritime technology

    The Maritime and Port Authority of Singapore (MPA) will invest more in technology in view of Singapore's push to capture new opportunities when the shipping market improves. Speaking at the inaugural Singapore Maritime Technology Conference on 23 April, Singapore's senior minister of state for

Safety & Security Safety & Security

  • EU migrant resource funding 'not sufficient'

    The European Council has announced that it will triple the funding and assets of Europe's border patrol operations, but the shipping industry has responded that this will not be sufficient to tackle the mass irregular migration in the Mediterranean Sea. In statements issued from the European

Ports Ports

  • Kalmar receives huge orders from ICTSI

    Crane manufacturer Kalmar has received two separate orders totalling nearly 60 Ottawa terminal tractors from International Container Terminal Services (ICTSI) in the Philippines. A total of 42 Kalmar Ottawa terminal tractors, five Kalmar reachstackers, and two Kalmar rubber-tyred gantry cranes

Offshore Offshore

  • Seacor posts $20m loss for Q1 2015

    Worsening conditions in the offshore market in the first quarter of 2015 led to a USD19.6 million loss for vessel operator Seacor. The loss, revealed on 23 April, compares with a USD40.1 million profit in the previous quarter and a profit of USD11.5 million in first quarter of 2014. In response to

Companies Companies

  • Analyst: Concerns over DSME undue

    Daewoo Shipbuilding & Marine Engineering is now the star performer among South Korea's Big Three shipbuilders and concerns over its earnings are undue, said an analyst. Samsung Securities analyst Han Young-soo based his report on a recent visit to the Okpo-based DSME to check on its recent

Markets Markets

  • HMM cancels Newcastlemax orders

    Hyundai Merchant Marine (HMM) said on 24 April it has cancelled two Newcastlemax dry bulk carriers that it ordered in 2013. South Korea's second-biggest shipping company explained in a Korea Exchange filing that it placed the orders on the basis of securing long-term shipping contracts. "Since
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  • Unlocking Iran’s crude potential

    24 Apr 2015

    IHS Maritime’s Greg Miller looks at how détente could present a mixture of positives and negatives for tankers The new framework agreement on Iran’s nuclear programme may be a turning point for oil sanctions and a major development for tanker demand. However, a high degree of uncertainty remains about when sanctions could be lifted and … more

  • Klaipeda port builds on its links

    18 Apr 2015

    Low costs and efficiency have made the port a Baltic success story, says IHS Maritime’s John Pagni Being Lithuania’s only cargo port has not held Klaipeda back from acting as a trade outlet for landlocked nations. “Port infrastructure is upgraded annually by the state on behalf of Klaipeda State Seaport Authority (KSSA) and we maintain … more

  • Banks to tighten offshore lending

    18 Apr 2015

    A return to higher oil prices may have little effect on the offshore sector as banks look to reinvent their lending and revenue strategies. IHS Maritime’s Savahna Nightingale reports Access to easy capital is becoming more difficult as banks begin to tighten their offshore lending strategy. This could place further financial pressure on stressed vessel owners and … more

  • Bulker buyers grab bargains

    17 Apr 2015

    The value of bulk carriers halves, luring eager buyers to the S&P market, IHS Maritime reports Even though fewer candidates are coming on to the market, a considerable number of bulker sales are still being concluded. Sellers seem to be offloading tonnage for fear of a sustained slump in earnings, while buyers believe that they … more