Former China Shipping Development boss gets six year prison sentence

Former China Shipping Development boss gets six year prison sentence

Shanghai: Mao Shijia, former general manager of China Shipping Development, has been sentenced to prison for six years by Shanghai No.1 Intermediate People's Court. Mao was arrested in November 2013 for the crime of taking advantage of duty.

Nexen stops operations at Yemen oilfield after terror threat

Nexen stops operations at Yemen oilfield after terror threatSana'a: Nexen, the upstream oil and gas subsidiary of CNOOC, has stopped operation at an oilfield and processing facility in Yemen due to security threats. Nexen shutdown the Block 51 field operations and BAK PF processing facili...

SITC disposes of vessel

SITC disposes of vesselShanghai: SITC International Holdings (SITC) has announced that the company has sold one 847teu container vessel to its indirectly owned company, SITC Steamships, at a price of $3.4m. The container vessel, SITC Shanghai, was orig...

China Ocean Shipbuilding forms jv with Ouhua

China Ocean Shipbuilding forms jv with OuhuaShanghai: China Ocean Shipbuilding has announced that the company has set up a jv with ship design and construction company, Zhejiang Ouhua Shipbuilding, through its subsidiary Zhoushan China Ocean Investment Fund. China Ocean In...

Maritime CEO assesses the markets in year-end review

Maritime CEO assesses the markets in year-end reviewSingapore: With less than two weeks till the end of the year our sister title Maritime CEO has raided its archives to present a unique review of the year from the viewpoint of many of the world’s top shipowners. The review looks a...

China’s biggest scrap yards apply for EU certification

China’s biggest scrap yards apply for EU certificationShanghai: The world’s two biggest ship scrap yards by capacity, China's Zhoushan Changhong International Ship Recycling and Jiang Xiagang Changjiang Ship Recycling Yard, have applied for the inclusion of their facilities in the fu...

Kazakhstan and China to boost transport

Kazakhstan and China to boost transportShanghai: Kazakhstan is to boost container transportation with China through the connection of Lianyungang port. KTZ-Express JSC and Lianyungang Port have singed a framework agreement during a meeting of the Kazakhstan-China Busi...

Tianjin Southwest orders bitumen carriers

Tianjin Southwest orders bitumen carriersDalian: Tianjin Southwest Maritime (TSM) has gone to Huangpu Wenchong Shipyard to order two 12,800 dwt bitumen carriers. The deal comes with options for two more. The ships are due for delivery in 2016. No price has been revealed.

SDARI working semi-sub heavylift design

SDARI working semi-sub heavylift designShanghai: Shanghai Merchant Ship Design & Research Institute (SDARI) has signed a contract with CSSC Huangpu Wenchong Shipbuilding (HPWS) to supply a detail design for 50,000 dwt semi-submergible heavy lifter.

Dong Fang raises $159m in asset-backed securities

Dong Fang raises $159m in asset-backed securitiesShanghai: China-based container lessor Dong Fang International Investment (DFII), part of China Shipping Group, has issued $159m in container asset-based securities (ABS) notes in the US. Dong Fang Container Finance II, DFII’s ...

Guangzhou Wenchong builds boxships for German owner

Guangzhou Wenchong builds boxships for German ownerGuangzhou: A German shipowner has placed an order for two 1,700-teu containerships to be built at Guangzhou Wenchong Shipyard, part of China State Shipbuilding Corporation (CSSC). Delivery is expected in 2016, the shipyard says. ...

Shanghai Bestway enters financial leasing sector

Shanghai: A host of big names in Shanghai are coming together to launch a massive new finance leasing sector focused on the Yangtze river delta. Shanghai Bestway Marine Engineering Design has announced that the company plans to invest RMB60m to s...

BigRoll adds two more at Cosco Dalian

Dalian: BigRoll Shipping has announced that Cosco Dalian Shipyard has been contracted to build two more MC Class module carriers, bringing the total number of vessels under construction to four. The first two vessels BigRoll Barentsz and BigRoll B...

Politicians put China's Colombo port project in jeopardy

Beijing: China’s plans to build a $1.4bn port city in Colombo could be in jeopardy if the leader of Sri Lanka’s opposition party is re-elected as prime minister in January. Former prime minister and opposition leader Ranil Wickremesinghe said ...

Ningbo port upgrades facilities

Shanghai: The eastern Chinese port of Ningbo has increased port handling capacity with the opening of new berths in Meishan port area and Beilun port area. The Meishan port area, including five container berths, and the number 2 container berth of...

Bajpaee discusses shipmanagement changes

Hong Kong: With Rajaish Bajpaee taking a non-executive chairman position at Bernhard Schulte Shipmanagement (BSM) next month, relinquishing his ceo role to his current deputy, Captain Norbert Aschmann, the shipmanagement veteran has had time to refle...

HKSOA hits out at Europe’s emissions tracking plans

Hong Kong: The Hong Kong Shipowners’ Association (HKSOA) has joined other notable shipping associations such as Bimco and the International Chamber of Shipping (ICS) in opposing European plans for regional monitoring, reporting and verification (MR...

Qingdao port and Binzhou port to cooperate

Dalian: The northern Chinese port operator, Qingdao port, has singed the cooperation agreement with Binzhou port to jointly establish Binzhou Port Qinggang International Terminal Co., Ltd. to develop and manage the port of Binzhou.

China to develop port in Yemen

Beijing: China Harbor Engineering and Yemen Gulf of Aden Ports Corporation have entered into a framework agreement in Beijing for an expansion project at Aden port. The project will cos $507m and includes the construction of an additional berth on...

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Winter 2014
Autumn 2014

In Focus

Analyse this

Bei Hong reflects on a tough year for shipping analysts and wishes them well in the new world of industry consolidation

Analyse this

Another year draws to a close and with it, the percentage of years of my shipping career where markets can best be described as ‘disappointing’, sadly increases. This is no place to be conducting a ‘review’ of the past twelve months. December seems to bring about a host of such things, together with awards ceremonies, which this title has so far mercifully managed to shy away from. Back in the UK, the onset of the Christmas season is not heralded by an event with any religious significance, but by the annual Sports Personality of the Year television extravaganza, an event which more often than not proves that if you were blessed with great sporting talent, it invariably came at the expense of anything resembling a personality.

Personality is something which participants in the shipping industry have never been short of -- larger than life characters have dominated the business for years. Shipowners have always been prime tabloid fodder - Oslo, Greece and Hong Kong in particular have their share of tycoons who regularly appear on the social as well as the business pages, but recent years have seen the rise of the celebrity shipping analyst. They might not be making it on the social pages, but the rise of the shipping conference industry has seen analysts take on a much higher profile -- and 2014 probably wasn’t a great year for them.

Unless you subscribe to the conspiracy theory that the analysts were talking things up on instructions from their broking and investment banking colleagues who were acting on behalf of the ‘new money’ flooding in to the business (surely not?), then in the dry cargo market in particular, things didn’t go the way the analysts predicted. It was painful reading yet another ‘the upturn is just around the corner’ report as optimism for the second quarter petered out and the third quarter began to see a degree of panic set in, partially off-set by an autumn  ...   More>>