Author Archives: admin

10 Fishermen Missing After Hit and Run off South Korea

Ten out of thirteen Chinese fishermen have been missing since around 8 PM local time Thursday, when their boat collided with an unidentified cargo ship near South Korea’s Jeju Island, the Yonhap News Agency reports. The fishing boat, carrying some ten tonnes … Continue reading

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Crews survey ocean, Oahu coastline for oil after ship sinks

Crews have spotted a red diesel sheen south of the Honolulu airport one day after a vessel sank off Oahu, the Coast Guard said Friday. Officials were checking to see whether any of the oil was recoverable, said Chief Petty … Continue reading

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New requirements to inert gas systems on chemical tankers

In 2004 in-tank explosions resulted in the total loss of two chemical tankers. The requirements for inerting of cargo tanks did not apply to these vessels. In recent years there have been a significant number of similar explosions and fires … Continue reading

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EU Court Drops Sanctions against Iran’s Shipping Firms

The EU General Court has annulled the EU sanctions against an Iranian bank and 40 shipping companies whose assets were frozen within restriction measures targeting Tehran’s nuclear program. Sanctions against Bank Tejarat have been scrapped as, according to the ruling, the EU failed … Continue reading

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Euronav upsizes IPO to $230m

Euronav has announced it has upsized its IPO to 16.2m shares at an issue price of $12.25, for a gross of $229,062,750 if all 2.4m additional purchase option shares are taken up by underwriters. The offering is a significant improvement … Continue reading

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New 4,662-TEU YM Enlightenment to join Yang Ming China-Pakistan service

THE YM Enlightenment, the third in a series of five same-size 4,662-TEUers, was recently named by Yang Ming Line at CSBC Corp Taiwan’s Kaohsiung shipyard, reports Newark’s Journal of Commerce. The 259-metre YM Enlightenment will be phased into the weekly … Continue reading

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SingPost buys 90 per cent stake in Famous Pacific Shipping

SINGAPORE’s SingPost announced that it has acquired a 90 per cent of Famous Pacific Shipping Limited (FPSNZ) through its subsidiary Famous Holdings Pte Ltd. Famous Holdings has made a first payment of NZ$3.6 million (US$2.7 million) for the stake and … Continue reading

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China Nickel Ore Imports Fall to Four-Year Low on Indonesia Ban

Imports of nickel ore by China, the world’s largest consumer of industrial metals, slumped to the lowest in four years as an Indonesian ban on unprocessed minerals tightened global supply. Purchases last year fell 33 percent to 47.76 million metric … Continue reading

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World crude steel output increases by 1.2% in 2014

World crude steel production reached 1,662 million tonnes (Mt) for the year 2014, up by 1.2% compared to 2013. In 2014, the Middle East, the smallest region for crude steel production had the most robust growth. Crude steel production in … Continue reading

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China’s Dec Russian crude imports hit record as prices fall

China’s crude oil imports from Russia surged to a record 876,000 barrels per day in December, Chinese customs data showed on Friday, as refiners took advantage of multi-year low spot prices for Russian oil. For 2014 as a whole, imports … Continue reading

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India: Competition blues for government ports.

A slowdown in India’s international trade and rising competition from private ports is forcing major government-owned ports such as Mumbai Port Trust, JNPT and Kandla to change their business models. Long used to near monopoly revenues and profits, port trusts … Continue reading

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India: Shipping Ministry seeks tax holiday, incentives

Pushing the envelope for ‘Make in India’, the shipping ministry is asking for a tax holiday and more incentives for the shipbuilding industry in the upcoming Union budget. The ministry is also making its case to get an excise duty … Continue reading

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UKC-East VLCC rates hit 5-year high, pressure fuel oil arbitrage to Asia

The cost of sending 270,000 mt fuel oil cargoes from Rotterdam to Singapore has hit its highest level in almost five years due to a shortage of available VLCCs in the Atlantic Basin, shipping sources told Platts. Rates on the … Continue reading

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Harvey Gulf agrees to outsource the IHM (Inventory of Hazardous Materials) to Metizoft

Harvey Gulf and Metizoft have signed a framework agreement on maintenance and quality assurance of the Inventory of Hazardous Materials (IHM). Vessels with IHM documentation must according to the requirements of IMO Guidelines – Ship Recycling; MEPC 197 (62) be … Continue reading

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Tanker firms look to U.S. listings as oil shipping market rebounds

Inspired by an upturn in shipping markets after one of the worst sector downturns on record, a batch of oil tanker companies are looking to raise capital through U.S. listings. While crude prices have fallen more than 50 percent since … Continue reading

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China’s 2014 iron ore imports from Australia rise 31.6 pct

China’s iron ore imports from Australia rose 31.6 percent to 548.4 million tonnes last year, customs data showed on Friday, as a soaring production by big miners drove down prices and eliminated some smaller suppliers. Shipment from Australia accounted for … Continue reading

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DB Schenker and Maersk Line signs Six Year partnership agreement on reducing CO2 emissions.

The partnership emphasizes the companies’ shared commitment to sustainable growth. Maersk Line will undertake to reduce the CO2 emissions of every container it ships on behalf of DB Schenker Logistics between now and 2020 by 20% compared to 2014 levels. … Continue reading

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Star Bulk sells panamax for scrap

Star Bulk Carriers’ 1994-built 70,100 dwt panamax Star Julia has been sold for demolition. The company have secured a price above the ship’s net book value. and expect to deliver the ship by the end of February. Star Julia was … Continue reading

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Panama Canal expansion to boost transshipments by double digits

THE opening of the new Panama Canal locks in 2016 will result in transshipment activity expected to jump by double digits, followed by longer-term annual growth of five per cent, Drewry Maritime Research said in the latest issue of its … Continue reading

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Iron ore closes in on 2009 low, set for third weekly fall

Spot iron ore prices fell to near their lowest level since 2009 and are set to stretch losses to a third week, hurt by bountiful supply at a time of slower steel demand in top consumer China. Iron ore futures … Continue reading

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Mr. K. P. Roy to address the shipping industry at “India Maritime Summit 2015-Emerging Opportunities In The Indian Shipping and Port Sector.” February 6th, 2015 at Holiday Inn, Andheri (E)

The Shipping Tribune is pleased to announce that Mr. K. P. Roy, will be addressing the professionals of shipping industry at “India Maritime Summit 2015-Emerging Opportunities In The  Indian Shipping and Port Sector.” February 6th, 2015 at Holiday Inn, Andheri … Continue reading

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Essar Ports’ Q3 net profit rises 4.6% to Rs 98.34 cr

Essar Ports today reported a 4.6% jump in its net profit at Rs 98.34 crore for the third quarter ended December 31, 2014 on the back of higher sales. The company had posted a net profit of Rs 94.01 crore … Continue reading

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India scrapyards win US$180 million loan to silence angry environmentalists

INDIA’s big ship scrapping beach in Gujarat, long the target of angry environmentalists, will upgrade 70 scrap yards with a US$180.28 million to pay for eco-friendly features as well as housing and a schools, reports IHS Maritime 360. Atul Sharma, … Continue reading

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Higher Aframax earnings lure clean LR2 tankers to switch to dirty market

Higher returns for shipowners in the Asian Aframax market is luring operators of clean LR2 tankers to convert a few of their ships to trade in the dirty segment, owners, brokers and charterers said Thursday, January 22. Two LR2 tankers, … Continue reading

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