Category Archives: Shipping News

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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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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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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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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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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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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Can India afford to miss the LNG shipbuilding bus?

India’s bid to build locally three of the nine liquefied natural gas (LNG) carriers required by state-run natural gas firm GAIL (India) Ltd to haul gas from the US beginning September 2017 is in danger of running aground. Experienced LNG … Continue reading

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CMB: FOURTH QUARTER RESULTS 2014

CMB’s executive committee has discussed the results recorded for the fourth quarter and the preliminary results for the full year 2014. The consolidated result for the full year 2014 amounts to USD -28.839.000 (2013: USD 49.694.000).   Bocimar’s contribution to the … Continue reading

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Mr.Nagineni Bhupesh Chowdary 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. Nagineni Bhupesh Chowdary, 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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Traders book oil tankers to store 40 mln barrels at sea – sources

Oil traders have booked up to 20 tankers to store an estimated 40 million barrels of crude at sea, rising from 25 million barrels last week, as they soak up a stocks glut in anticipation of future profits, shipping and … Continue reading

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Winning Shipping in deal with Cargill, Bunge to move bauxite on Capesize: sources

Winning Shipping has fixed a contract of affreightment deal with ship-operator Cargill Shipping and Bunge Shipping to move 1.52 million mt of bauxite from the Dominican Republic to China over 2015, sources familiar with the matter said Wednesday. Cargill and … Continue reading

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Shipowners post millions to avoid ship arrests after OW Bunker collapse

SHIPPING lines are placing millions into US accounts to prevent ships being detained due to non-payment of bills for fuel supplied by the bankrupt OW Bunker, reports Reuters. This is in response to OWB USA and North America aggressively pursuing … Continue reading

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ABB generates record Azipod orders in 2014 on icegoing and cruise ships demand

ABB, a global leader in power and automation technology, has  received record levels of new orders for the marine part of the group’s business, driven by solid growth in demand for electrical propulsion systems especially in the cruise and ice-going … Continue reading

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ITF repeats call for Rotterdam dialogue as dockers protest

The ITF (International Transport Workers’ Federation) today called for all-party talks on the future of the port of Rotterdam, as dockers refused to unload a ship loaded at the new Rotterdam Gateway (RWG) terminal. RWG, unlike other companies at the … Continue reading

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North P&I Club retains S&P ‘A’ rating and stable outlook for 11th year

Leading ratings agency Standard and Poor’s (S&P) has reaffirmed North P&I club’s ‘A’ credit rating and stable outlook for the eleventh consecutive year. The agency says its rating reflects the 180 million GT club’s continued strong competitive position, strong capital … Continue reading

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