Category archives for: Asia Pacific

Extra Tonnage in Demand

Extra Tonnage in Demand

Extra tonnage seems to be in demand pulling containerships from their idleness and bringing the idle fleet levels to a record low this week.   According to the latest figures from Lloyd’s List Intelligence,  the capacity of the inactive box fleet decreased to 216,396 teu this week, compared with 238,679 teu a week ago. In terms […]

JES Blacklisted

JES Blacklisted

The Supreme People’s Court of China has blacklisted Jiangsu Eastern Heavy Industry (JEHI), a subsidiary of Singapore-listed JES International for failing to settle its debt obligations.   JEHI has yet to pay up RMB15m (USD 2.4m) stemming from 5 separate lawsuits filed between January and April 2014 by various equipment suppliers, Seatrade Global reports. The Supreme Court has put JEHI on […]

Sewol Owner’s Cause of Death a Mistery

Sewol Owner’s Cause of Death a Mistery

The South Korean state forensic agency has reported that it was impossible to determine the cause of death of Yoo Byung-eun, the fugitive shipping tycoon allegedly responsible for April’s Sewol ferry disaster, due to the state of progressed decomposition of the body, according to Yonhap.   The body of the 73-year-old billionaire, owner of Chonghaejin Marine Co., operator […]

Siphoning Incidents Nothing New?

Siphoning Incidents Nothing New?

The trend of incidents involving siphoning of fuel/oil from product and oil tankers at sea is not new. Statistics for Jan-Jul of 2014 reveal that the occurrence of such incidents took place more frequently compared to the annual numbers reported in the past three years (2011-2013), piracy watchdog ReCAAP ISC said in a report.   […]

Port Hedland Deckhands Back Industrial Action

Port Hedland Deckhands Back Industrial Action

Deckhands in Port Hedland have voted to take industrial action, after failing to negotiate a new Enterprise Bargaining Agreement with tugboat operator Teekay Shipping.   In a secret ballot conducted by the Australian Electoral Commission, 98% of Maritime Union of Australia members voted to take action. The members endorsed an unlimited number of 2 hour […]

Crowley First to Order Mitsui’s ME-GI Engines

Crowley First to Order Mitsui’s ME-GI Engines

Mitsui Engineering & Shipbuilding Co., Ltd.  has received the first order for electronically controlled gas injection diesel engine (ME-GI) from Crowley Maritime Corporation.   MAN B&W 8S70ME-C8.2-GI will be installed on 2 x 2,400 TEU + 400 vehicles ConRo ships to be built by VT Halter Marine Inc. ME-GI is a diesel cycle dual fuel engine based […]

Rising Concern over Small Tanker Hijacks

Rising Concern over Small Tanker Hijacks

The Piracy Reporting Centre (PRC) of the International Chamber of Commerce (ICC) International Maritime Bureau (IMB) raised concerns over a worrying trend of small tanker hijacks in its 2014 half yearly report released on Tuesday, July 22.   Globally, 116 incidents of piracy and armed robbery against ships have been reported to the PRC in […]

Update: Wärtsilä Divests Its Shares in QMD JV

Update: Wärtsilä Divests Its Shares in QMD JV

Wärtsilä has made plans to divest its shares in the Qingdao Qiyao Wärtsilä MHI Linshan Marine Diesel Co. Ltd (QMD), the joint venture company established for manufacturing large low-speed marine diesel engines.   Wärtsilä’s shares in the joint venture will be transferred to the current majority shareholder, Qingdao Qiyao Linshan Power Development Co Ltd, a company […]

Cargo Cruises aboard Giants of the Seas

Cargo Cruises aboard Giants of the Seas

CMA CGM Group is now offering genuine cruises aboard its biggest vessels, the new 16,020 TEUs container ships, such as the Marco Polo or the Alexander von Humboldt.   These giants of the seas (365 meters long, which is equivalent to more than 4 soccer fields), are among the largest vessels of their kind in the […]

Nordbank’s Survey Projects Good Shipping Tides

Nordbank’s Survey Projects Good Shipping Tides

German lender HSH Nordbank has carried out a survey titled “Shipping companies 2014 – Fit for the future?” which shows that the confidence among shipping companies in the industry continues to grow in 2014, as a clear majority of companies expect increased turnover and more than 40 per cent expect higher profits in comparison to […]

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