Author Archives: admin

India: Govt frames guidelines for registering ships overseas

The government issued detailed guidelines on a so-called Indian-controlled shipping capacity announced in the budget, making it mandatory for fleet owners to hire Indian crew and provide training slots for cadets on ships registered overseas, in line with the requirements … Continue reading

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Anti-piracy watchdog concerned about rising attacks on tankers in Southeast Asia

International Maritime Bureau Thursday expressed serious concern over the rise in hijackings of tankers in Southeast Asia and warned that this could be a new trend in piracy attacks in the region. IMB, an international anti-piracy watchdog, said the attacks … Continue reading

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Russia Oil Exports by Sea to Reach 6-Year Low on Refining

Russia’s crude exports on tankers are poised to fall to the lowest in at least six years as a government push to improve and expand domestic refineries means more oil is exported as fuels like diesel. Seaborne crude shipments from the … Continue reading

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Busy days at Galveston as tankers crowd the anchorages

The anchorages for tankers, in the Gulf of Mexico, in waters off Galveston, and at Bolivar Roads at the entrance to Galveston Bay, have been chock-a-block full. The AIS plots are filled up with vessels moored near the entrance to … Continue reading

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Asia Fuel Oil-380-cst premium up slightly; stocks near 5-month low

Cash premium on the 380-cst fuel oil rose slightly on Thursday as the market prices in tighter supply in August and lower onshore stocks. The 380-cst cash premium rose for the second straight session to $1.75 a tonne to Singapore … Continue reading

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South Carolina ports annual box volume up 8pc to 1.68 million TEU

SOUTH Carolina Ports Authority (SCPA) says its seaports handled 149,183 TEU in June, an increase of 19 per cent compared to the same month last year. In fiscal 2014, throughput rose by eight per cent to 1,684,907 TEU. “Our above-market … Continue reading

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CMB RESULTS FIRST HALF 2014

CMB’s executive committee has discussed the preliminary results recorded for the second quarter and those for the first half of 2014.   All figures mentioned in this press release have been prepared under IFRS (International Financial Reporting Standards) and have … Continue reading

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ICTSI inks innovative loan facility programme

International Container Terminal Services, Inc. (ICTSI) successfully closed and signed today an inaugural Loan Facility Programme (the Programme) and a USD350 million syndicated revolving credit facility (the Revolving Facility) with a large group of international and domestic banks. ICTSI’s Loan … Continue reading

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ARCTIA SHIPPING JOINS WORLD OCEAN COUNCIL

Arctia Shipping, the Finland-based global leader in icebreaking and Arctic operations, has become a member of the World Ocean Council (WOC). With its headquarters in Finland, Arctia brings extensive maritime experience and expertise in ice and Arctic operations to the … Continue reading

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Japan June crude imports rise 1 pct, LNG up 5.9 pct

The volume of Japan’s customs-cleared crude oil imports rose 1 percent in June from the same month a year earlier, while liquefied natural gas (LNG) imports rose 5.9 percent reflecting firm gas demand for power output amid nuclear shutdowns. Japan, … Continue reading

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Nigeria Crude Oil output will be 3.13 mn per day by 2030: Mckinsey

Nigeria’s economy, especially its oil and gas sector, is likely to record good growth rate every year and by 2030 its liquid production will be 3.13 million barrels a day, according to a report by Mckinsey&Co. The oil-and-gas sector is … Continue reading

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India: Essar Ports Q2 PAT at Rs 92 crore, down 10% year-on-year

Despite a marginal rise in revenues on a year-on-year basis and a declined bottomline in the June quarter, Essar Ports, one of the largest port companies in the country, is hopeful of an increase in volumes going ahead as its ongoing … Continue reading

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Freight rates on Baltic-NWE route at six month high on tight position list: sources

Aframax freight rates on the Baltic-Northwest Europe, basis 100,000 mt, hit six-month high Tuesday on a tight position list for the end-July and early-August loading dates, shipping sources said Wednesday. According to Platts data, freight rates on the Baltic-NWE route … Continue reading

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India’s Jan-June Iran oil imports climb by a third

India’s crude imports from Iran rose by a third in the first half of the year, data from trade sources showed, after the shipments were boosted following an interim deal to slow Tehran’s nuclear activity and ease Western sanctions. India, Iran’s top oil client … Continue reading

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Ireland, Belize Ratify ILO Maritime Labour Convention

İreland and Belize have ratified International Labour Organization’s (ILO) Maritime Labour Convention, 2006. This means that from July 8, 2015 and July 21, 2015, Belize and Ireland respectively will be parties to the Convention and will implement the requirements contained therein, … Continue reading

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EURONAV PRELIMINARY HALF YEAR RESULTS 2014

PRELIMINARY HALF YEAR RESULTS 2014 Highlights of recent developments  Acquisition of 4 VLCC vessels  Successful equity capital raise of USD 125 million Recovery in crude tanker rates towards end Q2 Outlook positive on seasonal demand and improving fundamentals Paddy … Continue reading

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Panalpina profit up 2pc to US$66.5 million, but revenue declines 3pc

SWISS forwarding giant Panalpina posted a two per cent increase in first half year-on-year pre-tax profits (EBIT) to CHF60.1 million (US$66.5 million), drawn on revenues of CHF60.1 million, which declined three per cent. Logistics contributed to over all results by … Continue reading

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MarinOIL and Tuco target offshore market with ProZero range of composite surfer boats

Marine Oil Transportation Consultants Inc (MarinOIL) and Tuco Group of Denmark have concluded a co-operation agreement that will see the marine projects consultancy market the Tuco-designed and built ProZero workboat range to the offshore oil and gas sector. The agreement … Continue reading

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Wilhelmsen Technical Solutions secures Inert Gas System orders for LNG carriers from Japan Marine United

Wilhelmsen Technical Solutions has secured multiple orders to supply its Maritime Protection Dry Inert Gas Generator (DIGG) systems for installation on LNG carriers under construction at Japan Marine United’s Tsu shipyard. Two DIGG units will be installed on two gas … Continue reading

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Iraq’s south oil exports rise to near-record, avoid northern conflict

Iraq’s oil exports from its southern terminals in July rose to a near-record rate, according to loading data and industry sources, remaining unaffected by fighting in other parts of the country. An advance by Sunni militants who seized swathes of … Continue reading

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U.S. export sales offer latest sign grains could halt slide

A flurry of grain export sales to China and elsewhere since last week, totaling about 2 million tonnes, is the latest sign U.S. soybean and corn prices may be set to rebound from four-year lows. Calling a trend for prices … Continue reading

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India cuts dependence on Iran oil to less than 6%

India has cut its reliance on Iran for meeting its oil needs to less than 6% as it raised imports from countries like Columbia and Mexico. India imported 11 million tonnes of crude oil from Iran in the fiscal year ending March 31, 2014, down from 13.14 … Continue reading

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Global seaborne coal market oversupply to be 10 mln T this year

The global market for seaborne thermal coal will be oversupplied by around 10 million tonnes this year, keeping prices below profitable levels for most coal producers well into 2015 or longer and forcing more mines to close. Coal prices have … Continue reading

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Mediterranean HSFO backwardation at 7-week high on bunker fuel demand, lower supply

The 3.5% FOB Med fuel oil cargo market was trading at a $3.00/mt premium to the front-month August swap Monday, the highest in seven weeks. The premium was last wider on June 6, when it was at $4.25/mt, Platts data … Continue reading

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