Category Archives: News

Container shipping industry reduces CO2 emissions – Maersk Line outperforms the industry

The Clean Cargo Working Group (CCWG) has just published annual CO2 emission performance data for the container shipping industry. On an average, member carriers have reduced CO2 emissions per container transported in 2013 by 7.7% – a remarkable achievement in … Continue reading

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The State of Piracy

Piracy’s gone away, right? You’d be forgiven for thinking that. The predominant narrative for the Indian Ocean is that Piracy has been suppressed to an extent that ship-owners are requesting fewer guards, even unarmed in some cases. Certainly private security … Continue reading

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ClassNK Release Annual Report on Port State Control

Leading classification society ClassNK (Chairman and President: Noboru Ueda) have released their annual report on Port State Control. Port State Control (PSC) inspections have proved to be a highly effective tool for eliminating substandard ships that may be in operation, … Continue reading

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CMB reports final half year results 2014

During its meeting of 26 August 2014, CMB’s board of directors approved the final consolidated accounts for the six months period ended 30 June 2014. The consolidated result for the first half of 2014 amounts to USD -2.812.000 (2013: USD 22.788.000). As … Continue reading

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SBI Offshore Commences Negotiations with Middle East-Chinese Consortium to Build Up to Five Jack-Up Drilling Rigs

SBI Offshore Limited (“SBI Offshore” or the “Group”) announced today that the Middle East-Chinese consortium (“Consortium”), which recently awarded its subsidiary a contract to provide design and engineering services for a jack-up drilling rig, has commenced discussions with the SGX Catalist-listed company to build … Continue reading

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Van Oord dredger returns to Gibdock

Part of the Van Oord fleet, the 137m long trailing suction hopper dredger, Lelystad, has been through an extensive programme of works at Gibdock in Gibraltar. The vessel was in dock for an initial 26 days, then went alongside the South Mole before … Continue reading

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India: Foreign coal traders delay supply talks as price rise seen

International coal traders are delaying talks for supply contracts with India as they want to see if the Supreme Court will cancel coal block allocations in its 1 September verdict, which could give them better realizations from India. “Indonesian miners … Continue reading

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Statoil claims new DP2 Multi-Purpose Offshore Vessel Mokul Nordic for North Sea charter

Nordic Maritime, a leading offshore service operator, today announced its newest DP2 vessel, Mokul Nordic, has been contracted for a 30 days firm + optional 15 days charter in the North Sea by international energy provider, Statoil.  “At Nordic Maritime, … Continue reading

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Strategic Marine announces Third Generation offshore crew transfer vessel

Strategic Marine, a specialist shipbuilder for the oil & gas sector, today unveiled its Generation 3 crew transfer vessel for the international offshore markets. The Strategic Marine Gen 3 40-metre boat is the latest model produced from a long background … Continue reading

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India’s Commodity futures witness 65% drop in trade volume in FY’15

Trading volume at India’s commodity exchanges fell 64.89% year-on-year to Rs 14.55 lakh crore in April to June 2014-15, according to market regulator, Forward Markets Commission (FMC). During April to June 2014, the total value of trade in all commodities … Continue reading

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Mega drybulk platform Star Bulk – keel firmly in place

Remember when any mention of Private Equity (PE), at a conference or in an article, was followed by the word “consolidator”, as in joining separate companies together? The “roll-up”, another finance word, where smaller companies are placed together in a … Continue reading

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China steel output growth doesn’t gel with coking coal: Russell

Something doesn’t quite add up with China’s rising steel production, but falling coal output and imports so far this year. China’s raw steel output was 480.76 million tonnes in the first seven months of 2014, up 2.7 percent from the … Continue reading

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ZIM reduces second quarter loss to $67m

ZIM reduced its net loss in the second quarter to $67m, its final three-month reporting period prior to undertaking restructuring. In the second quarter of 2014 ZIM reported a net loss of $67m compared to a loss of $97m in … Continue reading

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LANXESS – Flexible in the Arctic Ocean

Shipbuilding is seen as an indicator of the state of the world economy. That is why a recent report caused some excitement – it would seem that the industry is recovering. And not just in South Korea, which has occupied … Continue reading

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October 1 – 7 Golden Week shutdown to cut Maersk A-E capacity 25pc

SHIPPING will withdrawn over the Ocober 1 -7 Golden Week holiday in China, with Maersk Line altering one of its Asia-Mediterranean services and Hapag-Lloyd amending its G6 Alliance Asia-North Europe service. Service withdrawals represent one quarter of Maersk’s average weekly … Continue reading

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Piracy is a symptom of Somalia chaos

Piracy has fallen out of the headlines recently as the number of attempted hijackings has dropped. Back in 2009 and 2010, there were incidents weekly or even daily. Now, as The National’s report yesterday pointed out, there have been only … Continue reading

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VIKING flexes global network muscles

Market-leading marine and fire safety equipment manufacturer VIKING Life-Saving Equipment has come up with a new answer to shipowner requests for predictable costs, reduced risk and easier administration. And it’s combining the company’s extensive network, worldwide stock points, and the … Continue reading

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Dalian iron ore hits contract low, spot slides on weak steel demand

Chinese iron ore futures fell on Monday to their lowest since they were launched last year, while weaker buying interest pushed down prices for spot cargoes further on slower steel demand. Benchmark spot iron ore is now trading close to … Continue reading

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ASIA MET COAL: Sluggish trading as Chinese buyers still doubtful

The spot Asian metallurgical coal market witnessed a subdued start to the week as trading remained thin across most categories, despite the swelling number of buyer enquiries. Premium low-vol hard coking coal was unchanged at $124.75/mt CFR China, maintaining a … Continue reading

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Oil Producers to Pump Up Lobbying to Remove U.S. Export Ban

The oil industry is gearing up for a postelection lobbying push to loosen the four-decade U.S. ban on exports of crude oil, saying that relaxing the prohibition would create jobs and stimulate the economy. But oil producers face several challenges … Continue reading

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Refiners, marketers press for Jones Act changes

Petroleum marketers and refiners are planning a substantial effort to get Congress to change the Jones Act, a nearly century-old law they claim is driving up motor fuel and heating oil prices and severely inhibiting the flow of crude oil … Continue reading

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India: Duggarajupatnam port project hits roadblock

Nearly three years after Duggarajupatnam in Nellore district was finalised for setting up a major port, the proposed project is yet to take off. According to sources, there might be a delay of another year or two for work to … Continue reading

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The Baltic Dry Is Jumping, But Don’t Draw Any Broad Conclusions

Those who consistently preach doom and gloom and see an economic apocalypse around every corner would make me laugh if it weren’t for the fact that their shtick so often costs ordinary investors money. You know the type I mean. … Continue reading

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The Shipping Industry: Investing Essentials

The world economy relies on the movement of commodities and goods across oceans, in the air, and over railways and highways. The ceaseless flow of materials and products is often out of sight and far from our attention, but life … Continue reading

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