SGX freight derivative trades surge 700%

The number of dry bulk freight contracts traded via the Singapore Exchange (SGX) jumped 700% year on year to 14,154 contracts in April.
SGX said that open interest has almost doubled since the start of the year, averaging 32,218 contracts in April.
Open interest refers to the number of contracts

Marco Polo Marine profit up 24%

Singapore-listed integrated marine logistic company Marco Polo Marine posted a profit of SGD3.8 million (USD2.85 million), up 24% year on year (y/y) for the second quarter of 2015, which ended on 31 March 2015.
The company’s revenue dropped 9% to SGD29.7 million in the second quarter of 2015,

Ocean Tankers to strengthen ship security

Singapore-based Ocean Tankers told IHS Maritime it plans to strengthen its anti-piracy measures in the wake of the second hijacking its fleet has suffered within a year.
A spokesman for Ocean Tankers told IHS Maritime, “We are currently reviewing our security procedures to see how we can further

Fire Response Highlights Decision Complexity

By Wendy Laursen 2015-05-04 20:02:27 One of the first things that the chief officer on the Sea Gale did when responding to an engine room fire on the 24m crew boat was to silence the fire alarm. It had served its purpose, alerting everyone on board including the master who responded immediately. Later on during…


DP Operators Caught in Catch-22

By Wendy Laursen 2015-05-04 18:23:08 Over the past 10 years, more than 1,900 offshore supply vessels (approximately 820 PSVs and 1,080 AHTSs) have been built. The influx of more modern vessels into the market place has led to cheaper day rates and an increased demand for competent crews, says Alessandro Ciocchi, Group Director, Offshore, for…


Practical Security Applications

By Chris Georges 2015-05-04 16:17:15 It is 39 degrees at the gun range in Marriotsville, Maryland, and it’s a little chilly for this Floridian. But I am excited to learn about how to use various firearms. I have joined the other students taking the five-day, 35-hour Practical Security Applications course (SEC-APPS) at MITAGS. The gun…