• Sainty Marine pays back $3.7m in overdue debts

    Shenzhen-listed Sainty Marine has paid back a combined CNY22.9 million (USD3.7 million) in overdue debts owed to the Bank of Nanjing. As of 1 July, Sainty Marine had a total of outstanding overdue debts of CNY598.4 million, a stock filing of Sainty Marine said on 2 July. In May, Sainty Marine was

  • Glut of LNG carriers persists

    The glut of LNG carriers is expected to persist until 2018, when more LNG cargoes emerge in Australia and the United States. As of June, IHS Maritime's Sea-web.com data show there are 144 LNG carriers and seven floating storage and regasification unit vessels on order that are greater than 60,000

  • Commercial vessels urged to help Rohingya refugees

    Commercial shipping has been held up as an example of what should be done as the international community meets in Kuala Lumpur, Malaysia, to tackle the problem of the Rohingya. The Rohingya, Muslims from Northeast Myanmar, are fleeing there in increasing numbers, usually in rickety ships and

  • Valemaxes allowed to dock at Chinese ore terminals

    Five iron ore terminals in China have been granted permission by the Ministry of Transport (MOT) to allow docking by 400,000 dwt Valemax-class bulk carriers, a ministry circular said on 2 July. The terminals are Dagushan port area in Dalian with one berth, Caofeidian port area in Tangshan with two

  • Australia's Atlas Iron steps back from financial brink

    Northwest Australian iron ore company Atlas Iron has refinanced and reopened its mines, it announced on 2 July. Reporting to the Australian Securities Commission, Atlas said the last of the three mines it shut down in April had reopened. Mining operations have restarted at its Mount Webber mine in

  • Canadian asset manager makes multi-billion dollar bid for Australia’s Asciano

    Toronto-based asset manager Brookfield Infrastructure Group has made an AUD9 billion (USD6.9 billion) offer for Australia's Asciano logistics company and its Patrick shipping container terminals. In response to media speculation, Asciano asked the Australian Securities Exchange (ASX) on 1 July for

Ships Ships

  • TUI Cruises orders two more ships at Meyer Turku

    TUI Cruises, which is a joint venture between the German tour operating company TUI and Royal Caribbean Cruises, Ltd (RCCL), which is the world's second largest cruise shipping company, says it has ordered two ships at Meyer Turku Shipyard in Finland. "TUI Cruises GmbH and Meyer Turku Oy signed an

Technology Technology

  • Wärtsilä tunnel thruster approval

    Wärtsilä has successfully obtained a Lloyd's Register (LR) 'Type Approval' Certificate for the Wärtsilä WTT11 tunnel thruster, which means the unit will not have to undergo a design review for each individual vessel or hull number. Wärtsilä says approval certification will also mean cost savings, as

Safety & Security Safety & Security

Ports Ports

  • Australia’s Pilbara ore shipments hit record high

    Exports of iron ore out of Australia's Pilbara port reached a new high for fiscal year (FY) 2015, plunging iron ore prices lower as the world glut continues to bight. Pilbara Port Authority announced on July 2 that it had delivered a record annual throughput of 619.8 million tonnes for the

Offshore Offshore

  • Sembcorp Marine chooses Technip for topside EPC

    Singapore shipbuilder Sembcorp Marine has appointed French engineering firm Technip to handle engineering, procurement, and construction (EPC) for the topsides of a floating production, storage, and offloading (FPSO) vessel it is working on. Sembmarine's Jurong shipyard is currently working on

Companies Companies

  • Investors urged to be cautious with DSME's stocks

    A sector analyst has urged investors to be cautious when buying the stocks of Daewoo Shipbuilding & Marine Engineering (DSME), advising them to do so only after South Korea's third-biggest shipbuilder announces its earnings for the second quarter of 2015. Samsung Securities analyst Han Young-Soo

Markets Markets

  • Hyundai yards, DSME to gain from cheaper oil

    The collapse in oil prices and the subsequent growth in oil consumption would benefit Hyundai's shipbuilders and Daewoo Shipbuilding & Marine Engineering (DSME) as they construct oil and product tankers, a sector analyst has opined. JP Morgan analyst Lee Sok-je noted that the crude tanker market
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  • Fibrelight releases improved recovery cradle

    30 Jun 2015

    The Fibrelight mass casualty recovery (MCR) cradle, which is produced and distributed by CQC, has been designed to meet changing customer and safety requirements, reports IHS Maritime. These changes have come about in operations, primarily in the North Sea, and are centred on SOLAS Regulation 111/17-1. This requires plans and procedures for the recovery of … more

  • Dredging insight: China at a turning point

    30 Jun 2015

    China’s slowing economy has led to port development projects being delayed as operating companies start to leverage more powerful IT software and more focused management expertise, writes IHS Maritime’s chief analyst, Richard Clayton. This marks a turning point for the country’s port sector, Ningbo Port Group’s chief economist Tong Mengda told the Intermodal Asia 2015 … more

  • Japan’s LPG import growth squeezed

    29 Jun 2015

    Mature economy and other energy sources limit Japan’s LPG demand growth, IHS Maritime reports. Japan is the world’s biggest importer of liquefied petroleum gas (LPG), but its demand appears to have matured. Speaking at the recent IHS Asia LPG Seminar in Singapore, Astomos Energy Corporation’s deputy general manager Kentaro Harada said that growing use of … more

  • Port of refuge: myth and reality

    27 Jun 2015

    Appointing a port of refuge for salvage operations carries a series of challenges, reports IHS Maritime’s Titus Zheng. In the world of ship salvage, assignment of a port of refuge is often a sensitive topic because of the environmental impact and political issues that it involves. The International Maritime Organization (IMO) adopted two resolutions in … more