• Scorpio Tankers building on strong quarter

    Emanuele Lauro-led Scorpio Tankers generated USD40.7 million in net income in 1Q15 on USD106.7 million in revenues. While net income represented a 23.6% drop from 1Q14, Scorpio's earnings on an adjusted basis, which excludes special items, increased from USD1.9 million last year to USD39.3 million

  • Golden Ocean sells ships, leases ones back, and postpones deliveries

    Golden Ocean Group, the listed dry bulk shipping company in John Fredriksen's business empire, has sold eight Capesize vessels and leased them back. It has also sold a further six units and postponed deliveries of newbuildings to raise cash in a weak market. The company has sold eight ships to

  • Wilson in refinancing deal

    Listed Norwegian shortsea bulk carrier operator Wilson has entered into a refinancing agreement worth EUR175 million (USD192 million) that includes EUR20 million to cover costs of new projects. The agreement, which was signed with DNB and SR Bank, will replace an existing mortgage finance-based

  • Carriers in last-ditch effort to restore rates

    Container lines have their backs against the wall as they rally behind sharp general rate increases (GRI) for the Far East and Europe trade later this week. Following three unsuccessful attempts over the past months, carriers will be pushing for hikes of between USD730 and USD1,300 teu on spot

  • HPH Trust posts losses in 2014

    Singapore-listed port operator Hutchison Port Holding Trust (HPH Trust) posted a loss of HKD16 million (USD2.06 million) for the financial year ended 31 December 2014. This represents a huge tumble compared with its HKD3 million profit in 2013, due to the recognition of one-off impairment loss.

  • China CSSC profits surge 350% in 1Q15

    Shanghai-listed China CSSC Holdings has announced net profits of CNY124 million (USD20 million) for the first quarter of 2015. This figure, announced 24 April, represents a jump of 349.9% from the previous year and more than the total CNY44.2 million net profit for the whole of 2014. The company's

    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
  • Unlocking Iran’s crude potential

    IHS Maritime’s Greg Miller looks at how détente could present a mixture of positives and negatives for tankers

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

  • 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

Safety & Security Safety & Security

  • News insight: Master recounts migrant rescue

    A Campbell Shipping fleet ship recently plucked to safety three fishermen who were stranded on their capsized vessel in South Africa. It is the type of rescue that commercial ships routinely carry out, and the obligation for which is written into maritime regulations. But on 22 October 2014,

Ports Ports

  • Dredging works off Hong Kong Coliseum begin

    Dredging operations are being carried out off Hong Kong Coliseum, Hung Hom, for approximately 10 months, a notice of Hong Kong Marine Department said. The dredging works that started on 23 April are being carried out by one grab dredger and one hopper barge. One tug will provide assistance. The

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

  • Hanjin Shipping could return to black in Q1

    Hanjin Shipping could return to the black in the first quarter of 2015 as the power of cheap oil rubs off on the company, said an analyst. True Friend Korea Investment & Securities analysts Yun Hee-do and Lee Chang-won have forecast a net profit of KRW30 billion (USD27.9 million) for first-quarter

Markets Markets

  • Philippines replaces Indonesia to be China’s top nickel trader

    The Philippines has replaced Indonesia as the biggest nickel ore exporter to China in 2015, as the result of an export ban on unprocessed nickel ore imposed in Indonesia. In the first two months, China's nickel ore imports from the Philippines jumped 25% year on year (y/y) to 1.97 million tonnes,
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  • Putting ‘superyacht’ safety in the spotlight

    25 Apr 2015

    The application of safety regulations in the large yachting sector is complex. Captains and crew face increasing scrutiny from authorities, underlining the importance of an effective and clear safety management system. IHS Maritime’s Stephen Cousins reports The mysterious sinking of the USD39 million superyacht Yogi off the coast of Skyros in the Aegean Sea in 2012 was … more

  • Iridium broadband partners announced

    25 Apr 2015

    US-headquartered Iridium Communications has taken a big step forward in its programme to develop a new-generation broadband service, Iridium Certus, based on the capabilities of the company’s Iridium Next satellite constellation, which is being launched this year, IHS Maritime reports. After conducting a competitive process, Iridium has confirmed that it has selected four manufacturing partners … more

  • The Philippines shipbuilding boom

    25 Apr 2015

    IHS Maritime’s Richard Halfhide looks at the growth of the archipelago’s shipbuilding sector In 1989, heady with First World hubris as the Cold War drew to a close, American academic Francis Fukuyama famously asserted that civilisation had, in terms of its political and economic evolution, reached the end of history. The western liberal democratic model … more

  • 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