|AUGUST 5, 2014|
- Hong Kong's OOCL joins US HQ relocation trend by setting up in Utah
- Port Tracker sees Rotterdam, Antwerp leading North European box revival
- Ports America takes 30pc of 'K' Line's Long Beach and Tacoma terminals
- G6 on-time ranking slumps to 41pc while industry average hits 75pc
- Greek bulker and tanker owners show new interest in containerships
- Big part of Congress want Obama to threaten Japan, Canada over trade
- US Marshals ordered to seize Kurdish oil beyond reach off Galveston
- CP and Teamsters rail traffic controllers reach tentative agreement
- Norbert Dentressangle buys Jacobson from Oak Hill Capital Partners
- US reefer, van, flatbed truck rates continue to fall throughout July
- Top researcher questions integrity of negative rail study on trucking
- Positive response from airlines on future air cargo growth, says IATA
- US extends screening scheme a year, may not be mandatory till late 2016
- Vancouver and Seattle airports cash in on regional cherry bonanza
- Korean Air adds tenth A380 to boost volume on Incheon-Atlanta flights
|AUGUST 4, 2014|
- Evergreen Line announces improvements to UK & Ireland services
- H1 throughput at Dunkerque port up 10 pc
- IMB reports worrying trend of small tanker hijacks in South-East Asian waters
- MOL Logistics launches new warehouse operation in Hong Kong
- More consortia & alliances likely, says Drewry
- Rates on Asia-North Europe route see significant surge
- Safmarine is UTi-Ansell's Partner of the Year
- Tilbury & Zeebrugge's strategic agreement signs up SCS Multiport for new route
- EU prohibits import of select products from India
- India to import rice bran to fuel local oil production
- Iran's duty hike may hamper Basmati exports
- Pipavav Port targeting significant boost in box handling capacity
- Shipping Minister lays stress on increasing marine products exports, developing port-related projects
- Govt to develop dedicated cargo terminals at 24 airports
- FY15 fiscal deficit target 'daunting', says FM
- June sees 7.3 pc rise in core sector output
|AUGUST 4, 2014|
- EBDG awarded Staten Island Ferry design contract
- Shipping bodies issue Ebola virus advice
- Wärtsilä to design new ferry for Gulf of Bothnia link
- P&I Club warns of dangerous defects in newbuilds
- Damen delivers first of three seismic chasers
- Meyer inks deal for Finnish shipyard
- Newport News awarded CVN 73 planning contract
|AUGUST 4, 2014|
- Port of Vancouver, USA welcomes maiden voyage ship
- Panama Canal Authority inks deal with consortium
- Coast Guard rescue teams find missing man's vessel
- VT Halter Marine nets order for two articulated tug barge units
- Crowley solutions group opens Singapore office
|AUGUST 4, 2014|
- Larger container consortia to bring stability to east-west trades
Alliances set to ease capacity adjustments, according to Drewry
- TEN shares down despite second-quarter operating income of $8.5m
Company upbeat for MLP formation and US condensate exports
- Color Line and Kiel revert to ISPS level one
Security status raised after Islam terror threat warning, ferry operator admits
- Crews calling in west Africa face ebola risk, shipping groups warn
Masters should consider shore leave restrictions, argues ICS, IMEC and ITF
- Suezmax crude tanker sells for $3m more than its value
Good price for seller comes amid belief in the future of the 1m barrel oil tankers
- STX Europe sells Turku shipyard
Meyer Werft takes 70% and Finland takes 30% and backs cruiseship with $13.4m
- Pakistan breakers provide a bright spot in a quiet week
Falling domestic steel prices and currency changes dampen India scrapping sentiment
- US sanctions two North Korea shipping companies
Chongchongang and Ocean Maritime Management accused over Cuban arms haul
- Port of NY/NJ sets its course to break annual traffic record
Container throughput overcomes a harsh winter to rise 4% to 1.6m teu
- Two dead and many feared missing after Bangladesh ferry capsizes
Pinak-6 was carrying some 250 passengers, heading home after Eid celebrations
- Indian summer for VLGC market as Jag Vidhi sells for $25m
Vintage ship price hike shows that gas carriers are still a hot prospect, say analysts
- Golar LNG provides a floating storage and regasification unit to Ghana
Tema LNG marks Accra's $500m gas-import debut
- Moody's Japan reviews Mitsui OSK Lines' rating
Ratings agency rethink after shipping giant lowers its profit guidance for this fiscal year
- International shipping cuts CO2
IMO study shows a greener performance but warns that this may not be permanent
|AUGUST 4, 2014|
- Wärtsilä wins ferry design contract
Finland-headquartered marine power provider Wärtsilä today signed a contract for the design of an environmentally sound Gulf of Bothnia ferry as part of the Midway Alignment of the Bothnian Corridor project. "The project has been initiated to develop a multimodal logistics corridor across the Gulf
- Damen delivers seismic guard vessel
Damen Shipyards Group has delivered the first of three 35m seismic research guard vessels to Netherlands-based offshore services company Rederij Groen in what it describes as "a new milestone in offshore support vessel construction". Named 7-Oceans and built at Damen's Maaskant Shipyards Stellendam,
- TEN bullish on crude prospects
NYSE-listed Tsakos Energy Navigation (TEN) believes escalating geopolitical unrest could boost crude shipping rates. The Nikolas Tsakos-led company posted net income of $249,000 for 2Q14 versus a net loss of $2.4M in 2Q13. However, after dividends to preferred shareholders are taken into account,
- Chennai looks to revive megabox project
On Wednesday Chennai Port Trust (ChPT) board will consider a proposal to again seek bids for a 5M teu container terminal, along with two other expansion projects. The move follows the split between nearby L&T Kattupalli Port and Philippines-based International Container Terminal Services India
- Meyer Werft acquires 70% of Turku yard
Meyer Werft has acquired all shares in STX Finland, which owns a shipyard in Turku. TUI Cruises in Hamburg has ordered two ships to secure the immediate future of the yard, Jan Vapaavuori, Finnish minister of the economics and employment, has announced. Meyer will hold a 70% stake in a new company
- COSCO (Guangdong) wins PSV quartet
China's COSCO (Guangdong) Shipyard has won an order for four wave-piercing platform supply vessels (PSVs) from returning Singapore-based Chellsea, which is a subsidiary of Hong Kong shipowner Chellaram Shipping. The four 4,4000dwt UT 771 WP-designed vessel order is made up of the final two options
- Tallinn's profits climb 16%
The Estonian port of Tallinn has announced 1H14 figures showing a net profit of €20.2M ($27M), up 16% on the same period in 2013, with turnover increasing by 7% to €59M. Led by continuing growth on the Tallinn-Helsinki ferry route, as well as increasing calls by bigger cruise ships, the
- Italy takes lead on Med emissions control
Italy's parliament has proposed reducing the sulphur content of marine fuels used in its waters from 2018, according to a statement by its environment commission. This would bring Italy in line with north European waters. "The Environmental Commission of the Chamber [of Deputies] has asked and
- South Korean ro-ro ship collides with berth
South Korea-flagged passenger ro-ro ship C-K STAR collided with a berth at China's Lianyungang Port on Saturday afternoon, injuring one crew member. The ship suddenly lost all electricity supply when entering the port, hitting the berth under construction. The vessel was carrying 104 passengers,
- Mencast ends 2Q14 on high note
Singapore-listed offshore service provider Mencast Holdings posted a 59% increase quarter-on-quarter (q/q) to SGD43.9M (USD35.2M) in its revenue for 2Q14 ended on 30 June. Similarly, the company's gross profit surged 27% to SGD12.42M ($9.95M) in 2Q14 compared with SGD9.74M in 2Q13. Mencast's profit
- China to build three berths in Kenya
China Communications Construction Company (CCCC) signed a USD480M deal on Friday with the Kenyan government for the construction of the first three berths at Lamu Port. The three berths are part of the Ethiopia Transport Corridor Project (LAPSSET) Corridor Program, and are designed to handle general
- COSCO posts earnings for 2Q14
Singapore-listed shipping company, COSCO Corporation (Singapore) Limited saw a rise of 19% quarter-on-quarter (q/q) to SGD14.3M (USD11.5M) in its net profit in 2Q14, ended on 30 June 2014. The company has a 29% increase q/q in its turnover to SGD1.1Bn from SGD890.3M in 2Q13. COSCO's 2Q14 pre-tax
- Hijacked oil tanker released off Nigeria
Hijacked oil tanker MT Hai Soon 6 carrying 21 crew was released yesterday in waters off Nigeria, according to South Korea's foreign ministry. The owner of the vessel, Hai Soon Diesel & Trading, confirmed with IHS Maritime Fairplay that the tanker was released and all on board are safe and unhurt.
- China LNG imports up 19% y/y in 1H14
China's liquefied natural gas (LNG) imports climbed 19% year on year (y/y) to 9.9 million tonnes in the first six months in 2014, according to customs statistics. The average import prices also gained 7% y/y to USD623.4 per tonne. In January 2014 the LNG imports reached a record monthly level of 2.6
|AUGUST 4, 2014|
- King Ocean's service shift from Miami to boost Port Everglades
Port Everglades officials say they expect the port's container volume to increase by as much as 47,500 20-foot-equivalent-unit containers annually following the recent transfer of two of King Ocean's eastern Caribbean services from PortMiami. The additional services have begun operating weekly from King Ocean's Sun Terminal at Port Everglades to St....
- US antitrust suit weighs on Nippon Express
Nippon Express Co., Japan's largest international freight forwarder, saw its group net profit sink over 30 percent in the first quarter of fiscal 2014, which started on April 1, due to an extraordinary loss related to an antitrust class-action lawsuit in the United States. The Tokyo-based company said that its group...
- Proposed Mexican rail line short on details
An announcement last week that a Chinese consortium would build a rail line connecting a planned port on Mexico's Pacific Coast to a manufacturing hub along the U.S. border was heavy on fanfare but short on details. The Mexican state of Chihuahua in a statement announcing the deal didn't outline the...
- Strapped container carriers rely on lessors for boxes
Weak finances are forcing ocean carriers to rely more heavily on lessors to provide them with containers. Lessors' share of the global container fleet rose to an eight-year high of 46 percent last year, according to the Container Leasing report published recently by Drewry Maritime Research. The lessors' share was 40...
- ABF boosts revenue, profit; Panther expands
When ArcBest, the company formerly known as Arkansas Best, reported its most profitable fiscal quarter in years last week, Wall Street reacted swiftly. The company's per share price plummeted 25 percent July 31, as investors reacted to news that at 63 cents per share, ArcBest's earnings were short of a...
- Progress in PNW grain talks as two parties schedule more meetings
Negotiations between the International Longshore and Warehouse Union and the Pacific Northwest Grain Handlers Association, which represents a half-dozen export facilities in Oregon and Washington, are not concluded, though both parties say weekend bargaining has gone well. The Federal Mediation and Conciliation Service issued a statement today confirming that the two...
- Intermodal traffic on track to outpace 2013 growth, IANA says
North American intermodal volume growth this year appears to be on track to exceed the 4.6 percent gain seen in 2013 after traffic rocketed 8.2 percent year-over-year in the second quarter. The intermodal traffic growth rate in the April through July period, the healthiest since early 2011, was driven by the...
- Spare some thought for the seafarers
Peter Tirschwell came to town last week. I've known Peter for many years, and given that he might write my obituary one day, I offered to buy him lunch. Not having seen him for a while, once we got past insulting each other, as old friends do, the conversation settled down...
- US industrial real estate market continues growth
One of the nation's top real estate firms says the United States' industrial real estate market continued major growth in the second quarter, but noted this growth is more responsible and less speculative than the pre-recession boom. Commercial real estate firm JLL released its quarterly report this week, saying the U.S....
- Miami opens $668.5 million port tunnel
A $668.5 million tunnel that allows drayage trucks to bypass congested downtown streets opened with minimal fanfare yesterday at PortMiami. Florida Gov. Rick Scott joined port officials in dedicating the tunnel's 4,200-foot twin tubes on Feb. 19, but the full opening was delayed by replacement of malfunctioning jet fans in the...
- Researchers target ways for world's farmers to stem food loss
Ending world hunger has been a goal of governments, charities and charitable businesses and people for as long as there have been hungry people. Efforts have ranged from producing or donating massive amounts of food to reducing food waste and food loss. A number of corporations and trade organizations are working...
- Wal-Mart turns attention to reducing food waste
As the world's largest corporation, Wal-Mart holds hefty leverage over its vendors. When the retailer wanted RFID - even on perishables - vendors helped find a technical solution and complied. When Wal-Mart insisted on a certain type of pallet, vendors complied. The next mission of Wal-Mart, No. 1 on the JOC's...
- Pamana Canal, contractors confirm agreement to keep work going
The Panama Canal Authority and the consortium hired to build a third set of locks have amended their construction contract to reflect a March settlement of a payment dispute that interrupted work for two weeks. "What remains now is to continue working with the commitment to complete the expansion," said Administrator...
- Consignee or Not Consignee?
Q: I'm working through a situation and would like your professional opinion on the most accurate solution. We work as a lead logistics provider for a U.S. importer (Company A). To that end, we manage its freight forwarders and the transactional shipments. Company A places a purchase order to Company B....
- Steady trans-Atlantic ocean trade offers respite for carriers
Consider the trans-Atlantic market an oasis of calm. For a container shipping industry focusing on the opportunities and pitfalls in the much larger Asia-Europe and trans-Pacific trades, or the rapidly growing north-south trade linking Asia to Africa and Latin America, that's not necessarily a bad thing. The trans-Atlantic gets little respect,...
- Declining European rail performance threatens intermodal growth
Declining operating standards across Europe's rail network are threatening the future of intermodal transport, a leading combined transport company warned. Switzerland-based Hupac said it overcame a weak European economy and flat traffic in its key Italian market to carry almost 340,000 truck loads on unaccompanied combined transport in the first half...
|AUGUST 4, 2014|
- All eyes on DRYS
A leading equity analyst believes diversified Greek operator DryShips will turn in a loss when it reports second-quarter earnings Wednesday morning.
- Are yards cutting corners?
A leading protection-and-indemnity club is urging owners of bulkers and general cargoships to proceed with caution when taking delivery of newbuildings.
- Design deal sealed
Wartsila has lined up a contract to design a 'green' ferry that is going to be deployed on a loop linking Finland to Sweden by way of the Gulf of Bothnia in the Baltic Sea.
- Sinotrans defies downturn
Sinotrans Shipping of Hong Kong generated a relatively healthy profit in the first-half of 2014, a period in which many of its rivals struggled to keep their heads above water.
- Two for TUI
TUI Cruises has made good on its promise of fleet expansion with the addition of two more newbuildings to its orderbook.
- TEN's new crude hope
Tsakos Energy Navigation spoke of its belief in a tentative crude tanker market rebound as it reported a marginal second quarter profit today.
- Gail emerges for LNG ships
A tender for up to nine LNG newbuildings has finally been issued by Gail (India) after months of delays and discussions.
- Atlantic Nav nets more
Offshore owner Atlantic Navigation has seen its first half profit climb by one fifth.
- Turku takeover sealed
German shipbuilder Meyer Werft has agreed to purchase a majority stake in STX Finland.
- Bibby builds offshore fleet
Bibby Ship Management has secured contracts to manage two platform supply vessels (PSVs) and an FPSO.
- SMM profit inches up
Singapore's Sembcorp Marine has reported a modest 4% growth in its half year results released Monday.
- Suezmax price in focus
Peter Livanos's JM Maritime Investments is reported to have secured a strong price for one of its suezmax tankers.
- Supra8 tops 50 ships
Navig8 has seen its Supra8 supramax pool surpass the 50 ship mark following the addition of four more bulkers
- Moody's ponders MOL cut
Moody's could cut its issuer rating on Mitsui OSK Lines after the Japanese owner lowered its profit forecast last week.
- Vale faces Subic ban
Subic Bay Metropolitan Authority (SBMA) has suspended iron ore transshipment operations by Vale over complaints about pollution.
- Merger of dry duo tipped
Two dry bulk companies founded by Peter Georgiopoulos have been put forward as merger candidates by Norwegian bank Arctic Securities.
- CHO back in black
CH Offshore has put a bad 2013 behind it to return to profit for latest financial year, figures released by the shipowner show.
- CMES scraps panamax
Shanghai-listed shipowner continues clearout of elderly tonnage with sale of bulker.
- CMES scraps in China
Scrappers are paying just $327m per ldt for a Chinese-owned panamax
- We'll take three
Maritime Assets Corporation (MAC) of Dubai has sold three platform supply vessel newbuildings to Grup Servici Petroliere (GSP), Rumania's largest offshore player.
- Hijackers free tanker
West African pirates have released the 5,500-dwt products tanker Hai Soon 6 (built 1993), which was hijacked one week ago while in the Gulf of Guinea.
- Ghana gets gas
Idan Ofer's Quantum Pacific and John Fredrikesen's Golar LNG have joined forced on a $500m project to build a liquefied natural gas import terminal near the Ghanaian city of Tema.
|AUGUST 4, 2014|
- BREAKING NEWS: Agreement between Panama Canal, contractors on financing
The Panama Canal Authority and the consortium working on the expansion project have signed an agreement that incorporates a variation reached in March to the original 2009 contract.
- Big alliances may help lines control capacity
- Norbert Dentressangle acquires Jacobson Companies
Hervé Montjotin, Norbert Dentressangle's CEO, said the deal "is a key milestone in Norbert Dentressangle's development strategy to become a top-tier player in global supply-chain management."
- Energy company raises coal delivery concerns
The president and chief executive officer of Xcel Energy, Ben Fowke, Thursday sent a letter to the STB outlining his "concern over the ability of the BNSF to deliver sufficient coal to our electric generating stations."
- PostNL experiences revenue rise in Q2
- HP pays $32.5 million to settle with Postal Service
- Maersk doubles down on transpacific rate hike
- ILWU, grain companies to continue negotiations next week
FMCS said in a statement issued Monday morning that bargaining that began last Wednesday continued during the weekend with assistance from FMCS Acting Director Scot Beckenbaugh.
- PortMiami tunnel open for business
The tunnel is expected to shave 25 minutes from a port shuttle truck's round trip to the port, making it possible for drivers to add at least one more revenue-bearing trip to their 11-hour driving day.
- Container lessors expand their market share
London-based consulting firm Drewry said this contrasts with the preceding five years (2004-08), when operators' fleet growth outpaced that of the lessors.
- Boeing to build new 787 model in S.C.
When the plant opened in 2011, Boeing said it was diversifying its supply chain, but the machinists' union charged the company with trying to intimidate it by moving production to a right-to-work state.
- Executive moves
|AUGUST 4, 2014|
- Bunker Holding names chief sales officer
Jan Obel was former CEO of the KPI Bridge Oil Group.
- New player in bunker market
DoJi Marine Trading to focus initially on the US, ARA and Singapore markets.
- Sanctions could hit Rotterdam terminal project
Calls for Russian company to be boycotted.
- Prices start week soft in Fujairah
Prices unchanged in Suez.
- IFO prices on downward path in Northwest Europe
Rotterdam: Market was quiet.
- Fuel oil prices 'under long-term pressure'
China's energy reforms could dent regional demand for fuel oil.
- Hong Kong shows successful transition to low sulphur fuel
Port with MGO that previously wouldn't even meet upcoming ECA limit, has largely met locally imposed 0.05% sulphur limit.
- Sources: 'Five Aframaxes chartered to store fuel oil'
Move comes as arbitrage inflows slacken.
- 'Two-tier' bunker market in run-up in mass flow meter rules
Players could to see pricing anomalies in the run-up to 2017.
- Asian prices stay on narrow trading path
Operations in Busan threatened by second typhoon.
- Boxship owner orders dual-fuel quartet
Contract includes options for five more newbuilds.
- Project started to track vessel engine performance
Technology will focus on MAN B&W engine systems.
- Update: Pirates free MT Hai Soon 6
Vessel held captive for a week.
- Titan Petrochemicals debt restructuring produces results
Firm expects to record 'substantial profit' for first half of 2014.
- Chinese shipping firm enters 'LNG' buying spree
Orders placed for 200 LNG-powered river vessels.
- Finnish firm starts fleetwide scrubber installations
Company adding system to four other vessels.