Shell Reaches Nigerian Oil Spill Agreement

By Kathryn Stone 2015-05-04 16:04:32 Shell has reached an agreement to clean up a local Nigerian community devastated by two oil spills in 2008. Representatives from the Amnesty International, United Nations Environment Program, the Dutch embassy met with Shell over the weekend to hash out a €134 to €446 ($149 to $497) million clean-up plan…


Barge Carrying Caustic Chemical Sinks

By Kathryn Stone 2015-05-04 14:50:46 An emergency alert was issued on Costa Rica’s Pacific coast this weekend after a barge carrying ammonium nitrate capsized. The vessel was transporting around 180 tons of the caustic chemical Saturday when it ran into heavy seas. Two crew members onboard were rescued immediately after the vessel sank, but the…


Maersk Meets with Iran over Seized Vessel

By MarEx 2015-05-04 12:17:58 Maersk Line said on Monday it had met again with the Ports & Maritime Organization (PMO) in Iran regarding the seizure of the vessel Maersk Tigris but has yet to receive any official documents from Iranian authorities. The Maersk Tigris was seized last Tuesday by Iranian patrol boats in the Strait…


Pirates Attack Product Tanker in Malacca Straits

By Kathryn Stone 2015-05-04 10:06:38 A small product tanker, the Singapore registered Ocean Energy, was hijacked and had its fuel cargo stolen as it passed through the Malacca Straits over the weekend. The 6500dwt tanker, owned by Ocean Tankers, a subsidiary of Hin Leong Trading was carrying a cargo shipment from Singapore to Myanmar when…


Egypt Leases Second LNG Import Terminal

By Reuters 2015-05-04 08:25:26 Egypt has issued a five-year tender to lease a second liquefied natural gas (LNG) import terminal, the head of the state gas board told Reuters on Monday, seeking to tackle an energy crisis. Egypt was once an energy exporter but declining oil and gas production and increasing consumption has forced the…


Growth slows for public companies

Newbuild orders by US-listed shipowners have dropped sharply during the first four months of 2015, according to an IHS Maritime analysis.
US-listed companies have purchased or ordered just 29 vessels in January-April 2015, excluding related-party deals. That is down 56% versus 66 ships in the same

Yangzijiang delists in Taiwan

Chinese shipbuilder Yangzijiang Shipbuilding Holdings, listed in both Singapore and Taiwan, announced on 30 April that it will terminate its listing in Taiwan.
The shipbuilder cited the small trading volume of its units, called Taiwan Depository Receipts, as well as the costs of staying listed in

Westports container throughput surges 17%

Malaysian port operator Westports Holdings (Westports) has seen a 17% year-on-year growth in its container throughput to 2.26 million twenty-foot equivalent units (TEU) for the first quarter that ended 31 March 2015.
The company’s transshipment volumes also rose by 20% y/y, reflecting the positive