Author Archives: admin

Strong tanker market extends peak season high earnings

In the first quarter of 2015, tanker earnings for crude oil tankers have climbed to new strong levels, with averages not seen since 2008. The demand for crude oil tankers remain high even though the winter months are far behind … Continue reading

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IBIA underlines strong Singapore ties and calls for greater use of latest ISO specs

The special relationship that the International Bunker Industry Association (IBIA) enjoys with Singapore’s Maritime & Port Authority (MPA) was underlined at the annual IBIA Asia dinner this week. Singapore is a signatory to IBIA’s Port Charter designed to raise bunkering … Continue reading

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ContainerTug designs mini version that can be moved as easily as a TEU box

CONTAINERTUG has developed a tug boat that can be handled like a 20-foot container can be shipped around the globe and trucked to even the remotest of locations by a 4×4 / 6×6 truck with a knucklehead crane. According to … Continue reading

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Shipowners urged to refrain from new orders amid abundance of capital

Shipowners have been urged to exercise restraint on the ordering of new ships amid the lure of readily available capital in the market, and bearing in mind the continuing oversupply of tonnage, according to DNB Asia. Andreas Ostern, senior vice … Continue reading

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HIT’s stevedoring contractors sign deal to cover dockers’ 5.5pc pay hike

HONGKONG International Terminals (HIT) has announced agreements with independent stevedoring contractors that cover the costs of a 5.5 per cent cross-the-board raise for the Hong Kong dockers they employ for 2015-2016. The Hutchison unit said it has strengthened communication with … Continue reading

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Eco lobbies claim new box ships are less fuel-efficient than old ones

NEW containerships built in 2013 were are 10 per cent less fuel-efficient than those built in 1990, according to a new study, commissioned by two Brussels-based state-funded eco lobbies, Seas at Risk and Transport & Environment. These findings contradict ever … Continue reading

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India likely to remain net importer of iron ore in FY16

India is likely to remain a net importer of iron ore in 2015-16 as the falling international prices might encourage steel majors to continue import of key steel-making raw material through the current year. However, the quantity of imports may … Continue reading

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SGX-Listed EMS Energy Proposes Merger With Turnkey EPCM Provider Koastal Group For S$150M; Accelerates Transformation To An Integrated O&M Services Provider

SGX Catalist-listed EMS Energy Limited (“EMS” and together with its subsidiaries, the “Group”) announced today its plans to merge with Koastal Pte Ltd and its subsidiaries (the “Koastal Group”), an Engineering, Procurement and Construction Management (“EPCM”) player, in a major … Continue reading

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County Cork Lusitania anniversary conference to welcome Maritime Labour Convention to Ireland

Global union federations the IUF and ITF, assisted by Belgian trade unions, yesterday used the Brussels Seafood Expo to spotlight human rights abuses by Philippines’ tuna giant Citra Mina. Unions demonstrated outside the venue to expose the deplorable conditions and … Continue reading

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China iron ore futures hit upward daily limit as mills restock

Chinese iron ore futures rose for a third straight day to hit their upward daily limit on Friday and were on track for a second weekly gain as mills in the world’s top buyer stepped up buying. Benchmark iron ore … Continue reading

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India Dry Bulk Cargo Summit: Come, Join & Benefit From The Opportunity To Connect, Confer & Conduct Business

The Shipping Tribune is pleased to announce “India Dry Bulk Cargo Summit 2015″ A One Day Conference on 5th June 2015 at Holiday Inn, Andheri (East), Mumbai. Industry professionals from different parts of the world are participating in this conference, making the … Continue reading

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India: Port liberalisation plans challenged by wider regulatory hurdles

Prime Minister Narendra Modi is planning an ambitious programme of infrastructure and port development as part of India’s drive to develop its industrial manufacturing sector. Although critical to India’s long-term competitiveness, port liberalisation and expansion will continue to be slowed … Continue reading

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India: Ballast water treatment rules pose challenge to shipping industry

New and expensive global regulations to deal with a ship’s ballast water that will take effect soon are engaging the attention of the maritime industry. The Ballast Water Management Convention 2004 adopted by the International Maritime Organization (IMO) will require … Continue reading

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Novorossiisk bunker fuel operations resume, suppliers face severe delays: traders

Bunker fuel oil operations at the Russian Black Sea port of Novorossiisk have resumed after a storm, with suppliers facing sever delays with deliveries, traders said Thursday. “Bunker deliveries have been suspended for a total of six days due to … Continue reading

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Mumbai’s Jawaharlal Nehru Port plans to raise funds for major upgrade

MUMBAI’s Jawaharlal Nehru Port (JNPT) is planning to raise funds for a two-year project that would expand its current six-lane evacuation corridor into 12 lanes, according to the Hindu daily in Chennai. DP World will also be assisting with the … Continue reading

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CMB Strengthens Cash Position In Difficult Dry Bulk Markets

CMB’s executive committee has reviewed the results recorded for the first quarter of 2015.   The consolidated result for the first quarter of 2015 amounts to USD -39.561.000 (2014: USD-3.110.000 USD). Bocimar contributes USD -41.274.000 (2014: USD -4.362.000) to the … Continue reading

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Euronav to Announce Q1 2015 Results On Thursday 30 April 2015

Euronav NV (NYSE: EURN & Euronext: EURN) (“Euronav” or the “Company”) will release its first quarter 2015 earnings prior market opening on Thursday 30 April 2015 and will host a conference call at 9:30 a.m. EST / 3:30 p.m. CET … Continue reading

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World trade unions hold tuna giant to account at Belgian expo

Global union federations the IUF and ITF, assisted by Belgian trade unions, yesterday used the Brussels Seafood Expo to spotlight human rights abuses by Philippines’ tuna giant Citra Mina. Unions demonstrated outside the venue to expose the deplorable conditions and … Continue reading

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Platts Analysis of U.S. EIA Data: U.S. crude oil stocks rose 5.315 million barrels last week

U.S. commercial crude oil stocks rose 5.315 million barrels to 489.002 million barrels during the week ended April 17, U.S. Energy Information Administration (EIA) data showed. Analysts surveyed Monday expected a 2.6 million-barrel build. Refinery demand eased the week ended … Continue reading

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Asian LNG Price Rally Stalls Despite Plant Outages

Plant outages in the Middle East and Pacific basin failed to re-inject tautness into an abundantly supplied market as March’s rally in LNG spot prices collapsed in early April. Mild spring weather and the ample availability of short-term contractual supplies … Continue reading

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Clean Handysize Black Sea-Med freight rates in quickest weekly drop

Freight rates on the clean Handysize Black Sea-Mediterranean voyages, basis 30,000 mt dropped Worldscale 110 between Tuesday April 14 and Tuesday April 21, the quickest week-on-week decline since Platts started assessing the route. The rates plummeted from a 6.5 year … Continue reading

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Shipping industry calls on EU leaders to be decisive and immediately increase Mediterranean search and rescue resources

In advance of the emergency EU Council Summit tomorrow (Thursday 23 April) to address the migrant crisis in the Mediterranean, the European and global shipping industries insist that the urgent priority is for EU Member States to immediately launch a … Continue reading

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Baltic index slips on lower capesize rates

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell slightly on Wednesday on lower capesize rates. The overall index, which factors in average daily earnings of capesize, panamax, supramax and handysize dry … Continue reading

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All on board for Norway Night

More than 240 senior executives from the global maritime industry attended the inaugural Norway Night this evening as part of Singapore Maritime Week. The gathering at The Lantern, Fullerton Bay Hotel was to celebrate the maritime links between the two … Continue reading

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