• Taiwanese liners expect better 3Q performance

    Taiwanese container carriers are expected to do better in the 3Q15 amid rebounding freight rates and decreasing bunker prices, local analysts said on 3 August. Rates for Asia-Europe services surged 177% week-on-week (w/w) from USD400/teu to USD1,109/teu last week, according InfoTimes, while rates

  • Sainty Marine likely to refund $129m of advance payments and interest

    Shenzhen-listed Sainty Marine estimated that it would have to refund CNY800 million (USD129 million) of advance payments and interest to shipowners in the worst-case scenario following the bankruptcy of its partner Nantong Mingde Heavy Industry (NMHI). The worst-case scenario would materialise if

  • Fujian Guohang raises $6.5m in private placement

    Chinese dry bulk carrier owner Fujian Guohang Ocean Shipping (Group) has raised CNY40 million (USD6.5 million) in a private placement to replenish its working capital. Fujian-based Lianjie Investment Group, which owned 2.5% of Fujian Guohang before the private placement, subscribed in June for 20

  • SBI Offshore invests $10.2m for 51% stake in solar power assets

    Singapore-listed offshore services provider SBI Offshore has invested SGD13.97 million (USD10.2 million) to obtain 51% stake in solar power assets from its German partner Gräss Group for business diversification. The proposed acquisition includes four revenue-generating solar photovoltaic power

  • CMHI raises $700m from bonds

    China Merchants Holdings (International) (CMHI) has raised USD700 million by selling bonds to support the development of its port business. CMHI issued USD700 million fixed-coupon guaranteed notes, consisting of two tranches including a 5-year tranche of USD200 million and a 10-year tranche of

  • MPHRP announces new head under ISWAN

    Tom Holmer, former head of the International Transport Workers' Federation's Seafarers' Trust, has been chosen to lead the Maritime Piracy Humanitarian Response Programme (MPHRP). Holmer will take up his new roleat MPHRP once it becomes part of the International Seafarers Welfare and Assistance

    FEATURED REPORT

  • Gibraltar sees gains but fears referendum

    Growth is likely to exceed 10% this year, but the Rock is locked in turf warfare with the booming Spanish port of Algeciras, IHS Maritime reports.

    Photo: PA

  • 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.

Ships Ships

  • Shanghai Salvage-led consortium seals Sewol job

    A consortium led by Chinese state-owned Shanghai Salvage signed a contract with the South Korean government on 4 August to hoist the capsized Sewol ferry. The contract signing follows two weeks of negotiations, after the consortium was chosen on 15 July as the preferred bidder following an open

Technology Technology

  • Shore power expanded in Montreal and Quebec City

    Shore power will become available in the ports of Montreal and Quebec during the next few years with the assistance of government air pollution reduction programmes, the two port authorities have announced. The Montreal Port Authority will install a system for cruise ships at the Alexandra Pier and

Safety & Security Safety & Security

  • Product tanker catches fire off Shanghai

    A China Shipping Tanker-owned product tanker caught fire off Dayangshan Island, Shanghai, on 3 August, killing one crew member and injuring five others, announced the Shanghai Maritime Safety Administration. Ye Chi, ferrying 29,000 tonnes of diesel from Jinshan, Shanghai, to Singapore, was sailing

Ports Ports

  • New chief for Busan Port Authority

    Woo Ye-jong has been appointed as the new president of Busan Port Authority. From 31 July, Woo, 56, will begin his new appointment, succeeding Lim Ki-tack who has been elected as the International Maritime Organisation's next secretary-general. In announcing Woo's appointment, South Korea's

Offshore Offshore

  • SapuraKencana forms JV to enter Brunei oil and gas industry

    Malaysia-listed offshore services provider SapuraKencana Petroleum has formed a joint-venture (JV) company to enter the oil and gas industry in Brunei. According to its filing to Bursa Malaysia, the shareholder agreement was signed by its wholly owned subsidiary SapuraKencana Brunei and

Companies Companies

  • Shanghai Salvage-led consortium seals Sewol job

    A consortium led by Chinese state-owned Shanghai Salvage signed a contract with the South Korean government on 4 August to hoist the capsized Sewol ferry. The contract signing follows two weeks of negotiations, after the consortium was chosen on 15 July as the preferred bidder following an open

Markets Markets

  • Dry bulk sentiment and rates improve

    Spot freight rates for Capesize dry bulkers surged on 3 August and shipping analysts note the fundamentals of the sector were not as bad as the freight market had indicated in 1H15. "Capesize rates rose 9% yesterday and stand now at USD17,162/day. The BDI (Baltic Dry Index) has now risen by 95% to
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  • Saudi rival for Jeddah

    30 Jul 2015

    IHS Fairplay looks at a new kid on the Saudi block, King Abdullah Port. Peter Shaw-Smith reports A revolution is quietly under way in Saudi Arabia’s ports sector, as the first facility to be run outside government control attracts the world’s leading shipping alliance, piling pressure on the kingdom’s premier west coast port, Jeddah Islamic … more

  • 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