• Bourbon lays up 26 supply vessels

    French offshore vessel operator Bourbon has taken 26 supply vessels out of service amid the continuing slump in offshore oil and gas activity. More lay-ups could follow and Bourbon will continue to "stack" vessels without any prospect of activity for three months or more, said the company. The

  • FSL Trust posts five-fold profit rise

    FSL Trust Management (FSLTM) posted a profit of USD6.15 million for the second quarter ended 30 June 2015, up 516% year on year on higher revenue. The Singapore-listed shipowner's second-quarter revenue climbed 19.9% to USD27.5 million through its strategic deployment of redelivered vessels and

  • Samsun Logix restructuring proceedings get under way

    Seoul Central District Court ruled on 3 August to start rehabilitation proceedings for Korean shipping company Samsun Logix. Hur Hyun-Chul, a former Samsun Logix CEO, has been appointed as the company's custodian as it tries to work out its debts, largely to Korea Line Corporation (KLC). In a

  • POSH profits tumble 49%

    PACC Offshore Services Holding (POSH) posted a 49% year-on-year slide in profit to USD6.1 million for the second quarter of 2015, despite increasing its revenue. The Singapore-listed offshore services provider's second-quarter revenue climbed 22% to USD71 million. POSH's revenue gain was mainly

  • Hutchison faces two-pronged industrial unrest

    Hutchison Port Holdings (HPH) is embroiled in industrial unrest on two fronts over plans to slash its workforce and cut costs. The Hong Kong-based global operator was encouraged by the Australian government to get a foothold in Brisbane and Sydney container terminals in 2012 to end a 'duopoly' of

  • Sainty Marine appoints new chairman

    Shenzhen-listed Sainty Marine on 3 August announced the appointment of Zhang Shunfu as its chairman. Zhang, 53, is also the chairman of Sainty International Group, chairman and general manager of Sainty Metals & Minerals Company, as well as the general manager of China National Nonferrous Metals

    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

  • OOIL sells and leases back three 8,063 teu container ships

    Orient Overseas (International) (OOIL), the parent company of Orient Overseas Container Line (OOCL), has sold and leased back three 8,063 teu container ships to raise a total of USD157.6 million. The three vessels, identified as 2004-built OOCL Ningbo, 2005-built OOCL Tianjin, and 2004-built OOCL

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

  • Mauritius mounts air-sea search for MH370 debris

    The search for debris from the missing Malaysia Airlines flight MH370 has been extended to the southwest Indian Ocean. The move follows confirmation that a flaperon - part of the control surface of an aircraft - found last week at Saint André, in the northeast of the French island of Réunion, is

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

  • Swiber bags $80m Latin American contract

    Singapore-listed offshore services provider Swiber Holdings has clinched a USD80 million pipeline contract for a Latin American-based global energy company. According to the company's filing to the Singapore Exchange, Swiber will provide installation of monobuoys, pipeline-end manifolds, and a

Companies Companies

  • Yangzijiang profit drops 17%

    Singapore-listed shipbuilder Yangzijiang Shipbuilding Holdings' profit for the second quarter of 2015 shrank 17% on a year ago despite higher revenue contribution for the period. The company recorded CNY5.7 million (USD0.9 million) in revenue for second-quarter 2015, up 34% on a year ago, mainly

Markets Markets

  • Dry bulk scrapping faces 'perfect storm'

    Bulker demolitions are poised to dwindle amid a "perfect storm" of cheap steel, improved freight rates, and monsoon weather, says Khalid Hashim, managing director of Thailand-based dry-bulker Precious Shipping. Hashim told IHS Maritime that scrapping, which has benefited the Cape sector in
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  • Movers and Shakers: American Club, IMRF, Ningbo Marine

    05 Aug 2015

    P&I insurers The American Club has announced a series of appointments in its Greece, UK and China offices. Despite a challenging economic climate, the Club reported steady progress at its annual meeting of members held in New York last month. Dorothea Ioannou, managing director of the Shipowners Claims Bureau (Hellas), has been made global business … more

  • 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