• India steps up support to cruise shipping

    India has stepped up financial assistance to ports for upgrading cruise terminal facilities, shipping minister Pon Radhakrishnan has told Parliament. The tourism ministry disburses cash grants to upgrading cruise related infrastructure that includes facilitating smooth operation of cruise liners

  • Matson settles molasses spill case

    US-based box carrier Matson has terminated its molasses operations in Honolulu as part of a settlement stemming from a 2013 spill in Honolulu Harbour. The settlement with the state of Hawaii, announced 29 July, includes an agreement to pay USD5.9 million to compensate for damaged coral, lost fish,

  • Pacific Basin returns to profit

    Hong Kong-listed Pacific Basin Shipping recorded a profit of USD5.8 million in the first six months of 2015, due to unrealised derivative income. Excluding one-off items, the company's loss narrowed 32% year on year to USD14.6 million for the same period due to a decrease in its dry bulk revenue, a

  • Euronav sees positive tanker trend continuing into 2016

    Antwerp-based tanker operator Euronav has announced solid quarterly profits for the second time this year and says that it expects to benefit from current positive market trends until well into 2016. The company improved on its first quarter profits of USD80.86 million - its best since 3Q08 - with

  • Arctic raise 2015 VLCC earnings forecast 17%

    Arctic Securities in Oslo have raised their earnings forecast for VLCC tankers in 2015 to USD58,500 per day from USD50,000, shipping analysts Erik Nikolai Stavseth and Kurt Waldeland said. "We fail to see many clouds on the crude tanker skies for 2015 (the biggest risk being a compression in

  • Analysts upbeat about DHT after interim results

    Shipping analysts in Norway have greeted 2Q15 interim results of DHT Holding, the US listed tanker owner that is managed from Norway, with enthusiasm. Nicolay Dyvik, Petter Haugen and Oyvind Berle, shipping analysts at DNB Markets said that DHT has seen significant growth and we argue that the

    FEATURED REPORT

  • 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.
  • A gender-fair career at sea

    If shipping is to increase the number of female seafarers, a change of mindset is needed as well as the right conditions.

    Photo: Researcher Momoko Kitada says reluctant shipowners are denying onboard training opportunities to women seafarers.

Ships Ships

  • Spain's Navantia yard lands four Suezmax orders

    Spanish naval shipbuilder Navantia has landed an order for four Suezmax tankers with two others on option from Spain's Ibaizabal group. Navantia, which had its civil shipbuilding and repair activity capped at 20% of revenues until the end of last year on the orders of the European Commission, will

Technology Technology

  • Singapore invites proposals for LNG bunkering

    Singapore is inviting interested parties to apply for a licence to supply LNG fuel to ships in its waters. In their submissions to the Maritime and Port Authority of Singapore (MPA), applicants must propose an LNG bunkering supply solution. This should include how the applicant will procure and

Safety & Security Safety & Security

  • Suspected MH370 wreckage found near Africa

    Aircraft experts are currently examining aircraft wreckage that could be from missing Malaysia Airlines flight MH370. The debris was found about 4,000 km from the official search zone off Australia's west coast. The 2 m aircraft wing piece known as a flaparon was discovered on the French island of La Réunion off

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

  • News insight: Greece looks offshore

    The offshore sector has not so far been a factor in Greece’s rich maritime history, but the country’s debt crunch could change that. Greece’s government said on 14 July that it has received three bids for undersea acreage in western and southern Greece. The names of the bidders

Companies Companies

  • Finnlines posts best Q2 figures in a decade

    Passengers and freight transporter Finnlines has posted improved second-quarter results, defying an economic downturn in Finland. Although the Grimaldi Group subsidiary's second-quarter revenue slipped 5.6% to EUR135.3 million (USD149 million), its profit climbed to EUR15.8 million, up 7.3% or

Markets Markets

  • Subsea 7 warns of more pain ahead as profit falls

    Subsea 7, the London based seabed to surface construction company, has warned of further challenges ahead and reported a sharp reduction in interim profits. Group net profit in 2Q15 fell to USD88 million from USD266 million in the same period last year, while revenue decreased to USD1.35 billion
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
  • 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