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<title>Oceanintelligence News</title>
<link>http://www.oceanintelligence.com/</link>
<description>The professional marine credit analysis company.</description>
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<pubDate>Sat, 19 May 2012 12:43:45 -0700</pubDate>
<lastBuildDate>Sat, 19 May 2012 12:43:45 -0700</lastBuildDate>
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<copyright>Copyright: (C) Oceanintelligence / Petromedia Ltd, see http://www.oceanintelligence.com/home/tandc for terms and conditions of reuse</copyright>
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<title><![CDATA[Ferry operator sees 22% jump in bunker bills]]></title>
<link>http://www.oceanintelligence.com/news/i113260/Ferry_operator_sees_22_jump_in_bunker_bills</link>
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<description><![CDATA[Irish Continental Group reports $4.3 million increase in bunker costs for the first four months of the year.]]></description>
<pubDate>Fri, 18 May 2012 12:37:00 -0700</pubDate>
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<item>
<title><![CDATA[Maersk to put up freight rates by as much as 30%]]></title>
<link>http://www.oceanintelligence.com/news/i113257/Maersk_to_put_up_freight_rates_by_as_much_as_30</link>
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<description><![CDATA[Fuel prices have tripled in the last five years while shipping rates have fallen by 10%, says company's chief executive for Latin America.]]></description>
<pubDate>Fri, 18 May 2012 11:16:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[Q1 was one of shipping company's 'most challenging periods']]></title>
<link>http://www.oceanintelligence.com/news/i113256/Q1_was_one_of_shipping_company_s_most_challenging_periods</link>
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<description><![CDATA[Bunker costs limited potential for repositioning ships to more profitable markets.]]></description>
<pubDate>Fri, 18 May 2012 10:17:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[Shipowner orders 'popular' fuel saving OSV]]></title>
<link>http://www.oceanintelligence.com/news/i113254/Shipowner_orders_popular_fuel_saving_OSV</link>
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<description><![CDATA[Rolls-Royce UT 755 LC design features reduced fuel consumption, low noise and vibration level and good supply capacity.]]></description>
<pubDate>Fri, 18 May 2012 08:08:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[Genmar 'successfully' completes reorganisation plan]]></title>
<link>http://www.oceanintelligence.com/news/i113251/Genmar_successfully_completes_reorganisation_plan</link>
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<description><![CDATA[Firm has reduced its outstanding debt by approximately $600 million.]]></description>
<pubDate>Fri, 18 May 2012 07:29:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[Singapore-listed firm plan 'sizeable' bunker tanker fleet]]></title>
<link>http://www.oceanintelligence.com/news/i113247/Singapore_listed_firm_plan_sizeable_bunker_tanker_fleet</link>
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<description><![CDATA[Singapore may  face a shortage of bunker tankers in the future, says market player.]]></description>
<pubDate>Fri, 18 May 2012 04:41:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[Chinese shipyard clinches deal for six fuel efficient bulkers]]></title>
<link>http://www.oceanintelligence.com/news/i113246/Chinese_shipyard_clinches_deal_for_six_fuel_efficient_bulkers</link>
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<description><![CDATA[Six 39,500 dwt vessels will feature a Deltamarin design to reduce fuel consumption and exhaust emissions.]]></description>
<pubDate>Fri, 18 May 2012 03:50:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[Seaspan orders fuel efficient vessels]]></title>
<link>http://www.oceanintelligence.com/news/i113242/Seaspan_orders_fuel_efficient_vessels</link>
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<description><![CDATA[Company will continue to emphasise its SAVER vessel design, says CEO Gerry Wang.]]></description>
<pubDate>Thu, 17 May 2012 19:38:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[New oil storage project for Fujairah]]></title>
<link>http://www.oceanintelligence.com/news/i113225/New_oil_storage_project_for_Fujairah</link>
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<description><![CDATA[Sinopec and Concord Energy to build 1.125 million cubic metres of new capacity.]]></description>
<pubDate>Thu, 17 May 2012 12:33:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[Maersk says fuel costs are 'a huge headache']]></title>
<link>http://www.oceanintelligence.com/news/i113224/Maersk_says_fuel_costs_are_a_huge_headache</link>
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<description><![CDATA[But container line says it has no plans to hedge its bunker purchases.]]></description>
<pubDate>Thu, 17 May 2012 11:00:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[Chinese bunker supplier delays release of Q1 results]]></title>
<link>http://www.oceanintelligence.com/news/i113219/Chinese_bunker_supplier_delays_release_of_Q1_results</link>
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<description><![CDATA[Requires additional time to present all necessary disclosures and finalise the report and financial statements, says Andatee.]]></description>
<pubDate>Thu, 17 May 2012 10:30:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[High bunker prices absorb firm spot rates in Q1]]></title>
<link>http://www.oceanintelligence.com/news/i113220/High_bunker_prices_absorb_firm_spot_rates_in_Q1</link>
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<description><![CDATA[Recent strength in the suezmax tanker market 'a mere aberration' rather than a fundamental upward shift, says Drewry.]]></description>
<pubDate>Thu, 17 May 2012 09:59:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[Singapore-listed group narrowly in profit]]></title>
<link>http://www.oceanintelligence.com/news/i113216/Singapore_listed_group_narrowly_in_profit</link>
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<description><![CDATA[Increase in bunkering activities not enough to offset lower shipbuilding revenue.]]></description>
<pubDate>Thu, 17 May 2012 08:32:00 -0700</pubDate>
</item>
<item>
<title><![CDATA['Increasing signs' of rate undercutting]]></title>
<link>http://www.oceanintelligence.com/news/i113214/Increasing_signs_of_rate_undercutting</link>
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<description><![CDATA[Failure to impose peak season surcharges could have 'significant negative ramifications'.]]></description>
<pubDate>Thu, 17 May 2012 07:27:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[Mermaid Maritime secures rig contract extension]]></title>
<link>http://www.oceanintelligence.com/news/i113213/Mermaid_Maritime_secures_rig_contract_extension</link>
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<description><![CDATA[New contract to have potential value of approximately $16.1 million.]]></description>
<pubDate>Thu, 17 May 2012 06:11:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[Trading firms lease fuel oil storage space in Singapore]]></title>
<link>http://www.oceanintelligence.com/news/i113210/Trading_firms_lease_fuel_oil_storage_space_in_Singapore</link>
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<description><![CDATA[Trafigura and Mercuria take over space left vacant by Westport, reports say.]]></description>
<pubDate>Thu, 17 May 2012 05:05:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[Aegean Q1 profit rises 50%]]></title>
<link>http://www.oceanintelligence.com/news/i113211/Aegean_Q1_profit_rises_50</link>
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<description><![CDATA[Focus on transacting with 'creditworthy counterparties' helps to improve margin although volumes sold fall.]]></description>
<pubDate>Thu, 17 May 2012 03:47:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[Widening losses for MISC]]></title>
<link>http://www.oceanintelligence.com/news/i113194/Widening_losses_for_MISC</link>
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<description><![CDATA[Challenges 'do not bode well for the rest of the year' after difficult Q1.]]></description>
<pubDate>Wed, 16 May 2012 15:28:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[Trinidad and Tobago firms to start Panama bunkering ops]]></title>
<link>http://www.oceanintelligence.com/news/i113183/Trinidad_and_Tobago_firms_to_start_Panama_bunkering_ops</link>
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<description><![CDATA['The Panamanian government has assured its assistance to Petrotrin and NPMC to secure the necessary permits.']]></description>
<pubDate>Wed, 16 May 2012 10:30:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[High bunker costs put Maersk Line in the red]]></title>
<link>http://www.oceanintelligence.com/news/i113184/High_bunker_costs_put_Maersk_Line_in_the_red</link>
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<description><![CDATA[Total bunker costs increased 44% to $1.9 billion during the first quarter while freight rates remain low, says Maersk.]]></description>
<pubDate>Wed, 16 May 2012 09:32:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[STX Pan Ocean widens Q1 losses]]></title>
<link>http://www.oceanintelligence.com/news/i113181/STX_Pan_Ocean_widens_Q1_losses</link>
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<description><![CDATA[Preference for fuel efficient vessels amid high bunker prices provides more incentive to scrap older vessels, it says.]]></description>
<pubDate>Wed, 16 May 2012 08:22:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[Euroseas posts $9 million loss for Q1]]></title>
<link>http://www.oceanintelligence.com/news/i113180/Euroseas_posts_9_million_loss_for_Q1</link>
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<description><![CDATA[Expects better box ship market in Q2 2012, eyes further vessel acquisitions.]]></description>
<pubDate>Wed, 16 May 2012 07:16:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[Thai-listed shipping firm narrows Q1 2012 loss by 30%]]></title>
<link>http://www.oceanintelligence.com/news/i113175/Thai_listed_shipping_firm_narrows_Q1_2012_loss_by_30</link>
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<description><![CDATA[Regional Container Lines quarterly results affected by rising fuel costs and overcapacity.]]></description>
<pubDate>Wed, 16 May 2012 05:40:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[LNG-fuelled vessel orders increase 26%]]></title>
<link>http://www.oceanintelligence.com/news/i113174/LNG_fuelled_vessel_orders_increase_26</link>
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<description><![CDATA[Key factor is the IMO Tier III emissions standards, slated to take effect in 2015-2016.]]></description>
<pubDate>Wed, 16 May 2012 03:40:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[Plans for 14 bunker storage tanks to go ahead]]></title>
<link>http://www.oceanintelligence.com/news/i113160/Plans_for_14_bunker_storage_tanks_to_go_ahead</link>
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<description><![CDATA[Busan Marine & Oil Company will create space for 200,000 mt of bunker product.]]></description>
<pubDate>Tue, 15 May 2012 16:20:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[Swiber's Q1 profit, revenues improve]]></title>
<link>http://www.oceanintelligence.com/news/i113150/Swiber_s_Q1_profit_revenues_improve</link>
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<description><![CDATA[Remains confident of the long-term value of oil, says CEO.]]></description>
<pubDate>Tue, 15 May 2012 10:40:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[Oman Container Lines expands GEX service]]></title>
<link>http://www.oceanintelligence.com/news/i113149/Oman_Container_Lines_expands_GEX_service</link>
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<description><![CDATA[Gulf Express Service route will be serviced by the 1,730 TEU capacity MV Altonia.]]></description>
<pubDate>Tue, 15 May 2012 09:45:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[Bulker firm sues charterer for not replenishing bunkers]]></title>
<link>http://www.oceanintelligence.com/news/i113142/Bulker_firm_sues_charterer_for_not_replenishing_bunkers</link>
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<description><![CDATA[Globus Maritime seeks $1.7 million in damages from Allied Maritime for breach of contract.]]></description>
<pubDate>Tue, 15 May 2012 08:38:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[Navios Holdings expands fleet]]></title>
<link>http://www.oceanintelligence.com/news/i113144/Navios_Holdings_expands_fleet</link>
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<description><![CDATA[Takes delivery of a newbuild kamsarmax and charters out the vessel for two years.]]></description>
<pubDate>Tue, 15 May 2012 07:33:00 -0700</pubDate>
</item>
<item>
<title><![CDATA[Torm secures further extension]]></title>
<link>http://www.oceanintelligence.com/news/i113139/Torm_secures_further_extension</link>
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<description><![CDATA[Final documentation of long-term financing plan has commenced, says CFO.]]></description>
<pubDate>Tue, 15 May 2012 05:57:00 -0700</pubDate>
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