• Perdana Petroleum’s profit drops 58.7%

    Malaysia-listed offshore services provider Perdana Petroleum posted lower profit for the first quarter that ended on 31 March 2015 at MYR9.08 million (USD2.5 million). The first-quarter 2015 profit declined 58.7% from MYR22 million in first-quarter 2014 because of lower vessel utilisation. Revenue

  • Mercator Lines (Singapore) suffers losses again

    Singapore-listed dry bulker shipping company Mercator Lines (Singapore) suffered a loss of USD125.3 million for its full financial year (FY) that ended on 31 March 2015, from losses of USD22.7 million in 2014. This has marked a third consecutive year of losses owing to lacklustre dry bulk market

  • Nine rescued from sinking vessel off Gaolan port

    Nine crew members of a Chinese cargo vessel were rescued after it sank off Gaolan port in Zhuhai, China, on 21 May. The crew of Yue You Lian 68 were moved to a tug at 20:12 h local time, about 13 minutes before the vessel sank near the main channel of Gaolan port, a statement of the Zhuhai Maritime

  • Environmental study for Abbot Point expansion starts

    Studies for an environmental impact statement (EIS) have begun for the proposed expansion of Abbot Point, Australia's biggest coal port. Located 25 km northwest of Bowen in Queensland, Abbot Point currently has a capacity of 50 million tonnes per annum. The proposed expansion will increase its

  • Callao strike continues

    There is no sign of a breakthrough in the indefinite dockworkers' strike at the general cargo facility in Callao, Peru, now into its second week. The industrial action by members of the Sturamporpc union, an affiliate of the International Transport Workers' Federation (ITF), at the APM Terminals

  • Coastal Contracts boasts record quarter

    Malaysian offshore service provider Coastal Contracts posted a record-breaking profit of MYR65.9 million (USD18.3 million) for the first quarter of 2015, up 34% year-on-year (y/y). Revenue was up 56% to an all-time high of MYR351 million in the first quarter 2015 from MYR224.7 million in the same

    FEATURED REPORT

  • Maritime movers

    IHS Maritime profiles the latest movements by the movers and shakers: the people who make shipping happen. Please send your suggested movers and shakers to savahna.nightingale@ihs.com

    Photo: New Algoma Central CEO Ken Block Sorensen. Credit: Algoma Central

  • Coming together: offshore and dredging

    IHS Maritime’s Bert Visser attended the recent joint meeting of the Central Dredging Association (CEDA) and the Association of Dutch Suppliers in the Oil and Gas Industry (IRO).

    Photo: Brakenhoff: oil price rise by 2017. Credit: Bert Visser

Ships Ships

  • Nanshan Group plans to buy second-hand bulkers

    Nanshan Group, a Chinese private-run conglomerate, plans to buy second-hand bulk carriers to meet the demand of its electricity producing unit for coal shipping capacity. The planned acquisitions of second-hand bulkers include two to four Panamaxes, two to three Supramaxes, and two to three

Technology Technology

  • Canada won’t be rushed on ballast treatment

    Canada will not require domestic shipowners operating on the Great Lakes to equip their ships with costly ballast treatment systems until effective technology exists, Canadian transport minister Lisa Raitt said on 21 May. Canada will only require ballast treatment on the Great Lakes "once it is

Safety & Security Safety & Security

Ports Ports

  • Political risk seen in dredging

    Political risks arising from vested interests and regime changes could affect dredging projects, and contractors need to calculate the risks before committing to these. The Abbot Point expansion project in Australia is an example of this

Offshore Offshore

  • BW LPG upbeat after strong start to year

    BW LPG, the world's largest LPG carrier owner, has taken an upbeat view of the future after delivering strong 1Q15 figures. The company's first-quarter net profit rose to USD57.5 million this year from USD30.8 million in 2014 on a bigger fleet and firmer rates. Revenues increased to USD167.9

Companies Companies

  • Tsakos profits surge

    Greek tanker owner Tsakos Energy Navigation (TEN) has posted higher than expected profits and confirmed it is on the hunt for acquisitions. The NYSE-listed company reported net income of USD37.3 million for the first quarter 2015, up 156% from USD14.6 million in the same quarter last year. Earnings

Markets Markets

  • Panama Canal chief unfazed by competition

    The Suez Canal is scheduled to be wider and deeper by the end of the northern summer, but the potential time and cost savings for shippers and carriers is not a concern for Panama Canal Authority CEO Jorge Quijano. Quijano, who views the Suez as a primary competitor with the Panama Canal for US
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
  • Shale boom upsizes ethane carriers

    23 May 2015

    IHS Maritime’s Frank Lennox-Millard reports on the development of purpose-built very large ethane carriers Very large ethane carriers (VLECs) are destined to become part of the global seascape. A boom in shale oil/gas in the US promises increasing amounts of ethane and ethylene for highly profitable export. As a result the shipping industry is finding solutions … more

  • Tonnage shortages return to haunt banana shippers

    23 May 2015

    Ecuador bananas are in huge demand in previously untapped export markets, IHS Maritime’s Michael Hollmann reports Long-haul banana trades continue to flourish as consumers in Asia add more of the fruit to their diets. While reefer containers gain market share, Ecuador-based shipbroker Sopisco argues that specialised liner services could claw back some of the business. Bananas … more

  • Day of the Seafarer: Dubai alliance aims to educate a region

    18 May 2015

    IHS Maritime’s Richard Clayton looks at how the GCC is targeting the education and training of local labour to cement the region’s maritime and offshore future A partnership between a maritime academy and an ‘i-university’ could change the way the Gulf Cooperation Council (GCC) countries think about the industry, writes Richard Clayton, IHS chief maritime … more

  • Maritime movers

    16 May 2015

    IHS Maritime profiles the latest movements by the movers and shakers: the people who make shipping happen. Please send your suggested movers and shakers to savahna.nightingale@ihs.com Costa brand rebuilder wins PR professional of the year Hansjörg Kunze, vice-president of communication and sustainability of the Costa Group, has received a PR Professional of the Year award … more