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HSHb
 

Germany’s HSH Nordbank sees risk of falling short in ECB tests


Germany’s HSH Nordbank expressed confidence in its capital safety buffers on Friday, but acknowledged it could still fall short in a European Central Bank (ECB) test of the state-backed lender’s ability to withstand financial shocks. HSH, long seen as vulnerable … Continue reading

 
P31
 

World’s biggest, 2nd biggest lines ask Washington for permission to tie-up


THE world’s biggest and second biggest shipping lines, Maersk and MSC, have sought permission from the US Federal Maritime Commission (FMC) to form a vessel sharing agreement called the 2M. Copenhagen’s Maersk Line and Geneva’s Mediterranean Shipping Company (MSC), have … Continue reading

 
CMA CGM up-sizes
 

Throughput boost at CMA CGM


CMA CGM has reported a $94m profit in the second quarter, down from a $268m profit in the second quarter 2013, where the company recorded $248m of one-off gains from the sale of Terminal Link. Volumes carried by the French … Continue reading

 
Somalia flag
 

Somalia takes maritime dispute with Kenya to United Nations


Somalia has taken its maritime border dispute with Kenya to the United Nations’ top court which could settle a dispute and pave the way for oil and gas exploration. The International Court of Justice (ICJ) in a statement said Somalia … Continue reading

 
american
 

American GDP up 4.2pc in second quarter after 2.1pc first quarter decline


AMERICAN gross domestic product grew 4.2 per cent in the second quarter, according to the US Commerce Department after the first quarter delivered a 2.1 per cent decline. New growth was attributed to robust exports, which increased 10.1 per cent … Continue reading

 
VIKING Life-Saving Equipment
 

VIKING Saatsea puts crew training in its place


SMM 2014 sets the scene for a fundamental change in the way shipowners and offshore asset owners train their crews to comply with STCW and OPITO requirements, and the systems they use to track and report on such certifications. And … Continue reading

 
notice55
 

Social justice at sea narrows racial wage gaps, improves conditions


EUROPEAN seafarers still command better wages than others though the gap is narrowing, says a spokesman for seafarer wage benchmarking consultancy Precious Alliance, reports Lloyd’s List. Differences are not huge. “You are not looking at double wages. There is a … Continue reading

 
tanker sector
 

New digital database is released to support tanker sector


Tanker is the latest addition to the ever expanding portfolio of Shipping Guides Ltd, the leading industry specialist in publishing port, harbour and terminal information. FindaportCD is an annual subscription service that enables its customers to access the most comprehensive … Continue reading

 
crude supplier Saudi ship
 

Saudi crude exports fall in June as domestic demand rises


Saudi crude exports fell in June to their lowest levels in almost three years as oil use in the country’s power sector rose and local refineries processed high volumes, official data showed. Saudi Arabia exported 6.946 million barrels per day … Continue reading

 
BL06_LOGISTICS_PRA_1259608j
 

JITF LTD – SULA project driven partnership announcement


JITF LTD, a wholly owned subsidiary of Jindal Saw Limited and SULA Shipping & Logistics Private Limited, pioneers of transhipment and barging of coal at Sandheads for the Farakka transhipment project, announced a project driven partnership. Together JITF and SULA have not … Continue reading

 
Container ship
 

U.S.’s Scorpio, China’s BoCom Order Five Triple E Giant Container Vessels


Scorpio Group, one of the world’s biggest tanker and bulk operators, and China’s Bank of Communications Co. have ordered a total of five giant Triple E container vessels that will be leased to Switzerland’s Mediterranean Shipping Co., people involved in … Continue reading

 
uscg
 

Shipowners and operators use outdated forms when reporting marine casualties


In April 2013 the US Coast Guard (USCG) notified the industry that forms CG-2692 “Report of Marine Casualty” and CG-2692B “Report of Required Chemical Drug and Alcohol Testing Following a Serious Marine Incident” had been revised. Although there are apparently … Continue reading

 
panamax ship1
 

ATLANTIC PANAMAX DRY: Sentiment rises on mineral inquiries from US


Sentiment in the Atlantic shipping market rose Thursday as sources reported a number of fresh mineral requirements from the US Gulf and East coasts. Platts assessed the coal route from Hampton Roads, Virginia, to Rotterdam, basis 70,000 mt at $10.50/mt, … Continue reading

 
THE International Longshore and Warehouse Union
 

Employers, ILWU reach tentative accord on health benefits as talks continue


THE International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA) have announced that they have reached a tentative agreement on health benefits, subject to agreement on the other issues. The parties have agreed not to discuss the … Continue reading

 
Iron Ore Exports
 

Brazil’s iron ore exports rose in July 2014


Brazil accounts for almost 25% of global iron ore trade volume. It’s the second largest iron ore exporting country. It’s also home to Vale, one of the largest mining companies. So shipments out of Brazil are a key metric to … Continue reading

 
exmar
 

Exmar:- HALF YEAR RESULTS as per 30 June 2014


The board of directors of EXMAR has approved the accounts for the period ending 30th June 2014. This press release also refers to the one distributed on 31st July 2014 (provisional results). Highlights of recent developments are: – Significant Capital … Continue reading

 
Greek port of Piraeus
 

Piraeus Port posts flat profit of US$4.3 million as revenues decline 3.3pc


STATE-OWNED Piraeus Port, the biggest in Greece, posted flat first half net profit of EUR3.3 million (US$4.3 million), drawn on revenues of EUR50.4 million, down 3.3 per cent. Cosco Pacific, already in possession of the port’s container terminal on a … Continue reading

 
A general view of a container port in Shanghai
 

Shanghai Port quarterly profit off 2.5pc at US$242.5 million, but H1 up 14.9pc


SHANGHAI International Port’s second quarter net profit dropped 2.5 per cent to CNY1.49 billion (US$242.5 million) while it posted a first half net profit increase of 14.9 per cent to CNY2.93 million year on year. That showed a sharp slowdown … Continue reading

 
Australian Iron ore port
 

Iron ore rout extends amid tight credit, China futures sink


Spot iron ore hit a two-year low on Thursday and was on course to fall to its lowest since 2009 as tighter credit in China curbed purchases of imported cargoes, and iron ore futures in Dalian slumped to a contract … Continue reading

 
Opec1
 

OPEC oil output rises in August as Libyan recovery holds


OPEC’s oil production has risen in August from July, a Reuters survey found, as a recovery in Libyan supply held up and Angola and Iran boosted supplies, outweighing a further decline in Iraq. The survey also found Saudi Arabia and … Continue reading

 
Iron-Ore (1)
 

India to turn big importer of iron ore in FY15


After losing its status as the third-largest exporter of iron orea couple of years ago, India is likely to turn a big importer of the key steel-making raw material by the end of this financial year. The country is likely to import 10 … Continue reading

 
Handysize freight rates
 

ATLANTIC HANDYSIZE DRY: Front-haul rates rise on high demand


Front-haul rates are rising in the US Gulf as more grain stems come onto the market and the tonnage list is thin, sources said Wednesday. Front-haul rates continued an upward trajectory Wednesday. Shipping sources indicated a 58,000 dwt vessel can … Continue reading

 
Israel-Corp-logo
 

Israel Corp Q2 loss narrows on gains in refinery, shipping units


Israel Corp, one of Israel’s largest holding companies, reported a narrower quarterly loss on Wednesday due to improvements in its oil refinery and shipping units. It was also boosted by modest growth in its subsidiary IC Power, which expanded energy … Continue reading

 
bimcologo
 

BIMCO: Key US indicators prove stronger demand for container shipping


US economic growth and its accompanied consumer spending is on the rise – as shown by key indicators followed by BIMCO’s shipping market analyst – and will result in stronger demand for container shipping. The Conference Board Consumer Confidence Index … Continue reading

 
 
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