|NOVEMBER 7, 2014|
- ILWU: No deal exists to work normally - we disagree on what 'normal' means
- Canton Fair revenue declines 8.6pc, suggesting weaker export demand
- Seaspan mulls imminent orders for 18,000 - 20,000 TEUers within months
- Hong Kong's Kerry Logistics spends US$257.9 million on acquisitions
- Daewoo Shipbuilding receives orders for three 18,000-19,000 TEU ships
- Now Hong-Kong listed, On Time Logistics aims at global expansion
- Textainer profit up 35pc to US$54 million as revenue increases 9pc
- Manila's ICTSI Mexican terminal surpasses all its productivity targets
- One-day ICHCA seminar on safety of container lashings in Rotterdam
- Dubai Al Maktoum airport freight volumes surge in third quarter
- Baltic Air Charter Association names Volga-Dnepr Best Cargo Charter Airline
- Ethiopian Airlines takes in third B777F to export African perishables
|NOVEMBER 6, 2014|
- Cabinet clears Merchant Shipping (Second Amendment) Bill, 2013
- GMS invites shipping regulators to India to witness improvements in ship recycling first hand
- MIQ Logistics India proficiently facilitates movement of project cargo to Bangladesh & Peru
- MoS asks RBI to relax rules for loss-making shipbuilding cos
- India may import crude from US
- Indo-Pak trade via Attari-Wagah land route halted
- Gujarat Pipavav Port posts good quarterly results
- KoPT put on alert after possible terror threat
- CONCOR CMD gets Navratna Meritorious Award
- CONCOR launches export container train service from ICD-TNPM to Chennai Port
- Freight rates decline on oversupply of trucks
- HCC bags two contracts worth INR 634.79 cr.
- Oct. manufacturing output improves
|NOVEMBER 7, 2014|
- Viel Unsicherheit
- Cheaper transport for millions of pigs
- Raimund Juriga joins Imtech ICT
- Acsa jazzing up with new CIO
- Many HGV drivers happy with job
- KR to drive LNG fuelled shipping in Apec region
- Quehenberger: new pecking order in Germany
- Colas Rail investing in HaCon's TPS
- Regular groupage freight transport for pharmaceuticals
- Volga-Dnepr flies boiler "drum" to Kuwait
- Logue retiring from FedEx Freight
- Grimaldi adding Apulia-Greece loop
- Network Rail publishes plans for new infrastructure
- Iraqi upgrades operation to Kuala Lumpur
- Gulfstream picks Ceva for European parts distribution
- European shipowners launch ESSF sulphur survey
|NOVEMBER 6, 2014|
- Euronav restarts IPO push
Tanker major Euronav has re-started its plan to float in the US and drop its Brussels listing in favour of the New York Stock Exchange (NYSE). Euronav filed its first public registration with US securities regulators on 8 September, after filing a confidential registration in late April. On 15
- Westports stellar results trigger expansion
Port Klang terminal operator Westports today released 3Q/2014 and nine months to September 2014 figures revealing profits have soared along with double-digit growth in operational revenue for both periods. "Coupled with a lower effective tax rate and termination of a management service agreement,
- Critical interim period for ship recycling
Progress in the fight to regulate ship recycling practices could be drawn out if operators do not see the financial benefits in doing so. "We have a classic chicken and egg situation if there is no financial motivation for the yards," said Nikos Mikelis, non-executive director of GMS, speaking at
- China Ocean to acquire 20% of leasing company
Hong Kong-listed China Ocean Shipbuilding Industry will acquire 20% of Zhejiang Ocean Leasing, a sino-foreign joint equity company, for CNY45M ($7.3M). Zhejiang Ocean Leasing posted profits of CNY12.3M in 2013 and profits of CNY20.3M in the first nine months in 2014, a stock filing of China Ocean
- German-Danish MPP alliance shaken up
Danish heavy lift operator Poulsen Shipping and its German joint venture partner Harren & Partner have realigned their project carrier operations. Their joint MPP operating outfit Combi Lift has been fully concentrated at the Harren & Partner head office in Bremen, superseding the old set-up with a
- German owners call for scrubber harmonisation
Owners are in danger of being penalised in Europe for discharging scrubber treated water due to a clash between two contradictory European regulations. The international sulphur regulation as transposed into European law, versus the EU Water Framework Directive. German ship owners today called on
- ICC will not prosecute Israel over Gaza aid ship deaths
The International Criminal Court has today decided against prosecuting the state of Israel for the deaths caused when the Gaza aid ship Mavi Marmara was intercepted in May 2010. The deaths of nine Turkish activists followed when Israeli commandos stormed the 4,142gt ferry Mavi Marmara, which was
- IHS recognition at Maritime Media Awards
IHS Maritime and Trade is celebrating after receiving a Certificate of Merit in the First Sea Lord's Digital Media Award category at last night's Maritime Media Awards in London. The recognition, decided by a panel of judges on behalf of the Maritime Foundation, was for the IHS Maritime 360
- Thailand transport sector cool to government's planned overseas investments
Thailand's interest in developing ports and rail infrastructure overseas has met with a cool reception from the transportation industry. "The government has formed a subcommittee under the Board of Investment of Thailand to particularly provide support for Thai investors engaged in the development
- Seafaring safety 'should come first'
Safety should be inherent to seafaring and more credit should be given to seafarers according to Gerry Docherty, director of technical services at Ardmore Shipping Services. Speaking at the 4th annual shipping and offshore CSR forum in London this week he said: "The shipping industry has a very
- DS Torm upgrades full year forecast as 3Q14 losses narrow
DS Torm, the listed Danish product tanker company that is undergoing restructuring, expects higher operating profit and narrower net loss for the full year than forecast earlier on smaller 3Q14 loss. Group net loss narrowed to $20.6M in 3Q14 compared with $40.2M in the same period last year, while
- Koper recycling project wins ESPO award
The Slovenian port of Koper has won this year's European Sea Ports Organisation award for its "No Waste, Just Resources" project for the recycling of port waste into environmentally friendly materials. The wide-ranging project involves innovations including the re-use of marine silt for
- Jones Act consolidation begins
Kinder Morgan has purchased two Jones Act product tankers from Crowley in what may be the beginning of a broader consolidation. NYSE-listed Kinder Morgan Energy Partners is paying $270M for the 45,760dwt Pennsylvania and Florida, built by Aker Philadelphia in 2012 and 2013 respectively. In
- OW Bunker forced to seek in-court restructuring
A large scale fraud at its Singapore subsidiary, and high risk management loss have forced OW Bunker to seek court restructuring. Events started to unfold on Wednesday (05 November), when OW Bunker, whose shares are listed in Copenhagen, said that the group's senior management had been informed
- MODEC trims 2014 profit forecast
Japanese floating production systems specialist MODEC said today that its 2014 profit is expected to be lower than previously predicted. The company explained this down to malfunctions in its FPSOs operating in Brazil. MODEC now expects its 2014 profit to be JPY5Bn ($43.7M), compared to JPY6.5Bn
- LR reinstating offshore licence in China
London-based Lloyd's Register (LR) expects to achieve an early reinstatement of its licence to carry out offshore certification for offshore oil production facilities in China. On 4 November, the State Administration of Work Safety of China ordered the China unit of LR and American Bureau of
- VLCC demand up as spot rates head north
Several VLCCs have been booked for up to two years as spot rates continue to head north ahead of winter. As of yesterday, the Baltic Exchange assessed the rate for the benchmark Arabian Gulf-East Asia route at Worldscale 56.18 or $45,902/day. Brokers told IHS Maritime that in recent weeks, Hyundai
- CCS to release new LNG rules in 2015
The Rules for LNG Bunkering Shipping is expected to be enforced in 2015, stated China Classification Society (CCS) at the World Shipping (China) Summit 2014. At present, CCS is dedicated to promote the application of LNG in the shipping sector by developing technical standards and providing
|NOVEMBER 6, 2014|
- Moroccan frigate drydocks at Damen Shiprepair Brest
- Undersea miner to charter newbuild from MAC
- Contamination is leading cause of tank container claims
- November 06, 2014 Becker Marine Systems opens U.S. office
- OW Bunker files for restructuring after fraud discovery
|NOVEMBER 6, 2014|
- Everett Port Commissioners Ok operating/capital budget for 2015
- Crowley Maritime sells two tankers to Kinder Morgan Energy Partners
- Willard Marine nets Navy deal to provide rigid inflatable boats
- U.S. goods, services export tally drops during month of September
- Boeing taps Gordon Johndroe for government communications post
|NOVEMBER 6, 2014|
- Oil is not going away any time soon, but non-Opec supply is shrouded in uncertainty
Tankers can expect oil cargoes for at least the next 25 years as oil remains important part of global energy mix
- Extraordinary LR2 spot rates start to level off
Earnings climb down slightly from all-time high of $35,000 per day earlier this week
- MOL confirms 18,000 teu talks
Seaspan and Japanese lessors are possible charter parties in deal to be done by year-end
- UK showcases country's world-beating maritime skills
Government extends tonnage tax to cover ratings as part of new campaign to promote shipping expertise and training
- KG rot 'set in with globalisation'
System worked well from 1970s to 2000s, insists Lloyd Fonds boss
- Haji-Ioannou wins FFA case against Su
Taiwanese owner and TMT found liable in $36m claim
- Gothenburg box traffic continues to fall
Year-to-date volumes down 5%, despite third-quarter hike
- Torm in talks with remaining debt holders to agree to restructuring plan
Group seeks consensus on Oaktree taking majority stake
- Dorian LPG bolsters balance sheet as US exports drive LPG shipping growth
Global LPG exports to rise 50% on last year
- Global macroeconomic factors pressure shipping for long term, says Cosco's Ma Zehua
Co-operation, consolidation and innovation would be keys to pursue ultra-low costs
- Services suspended to Libyan port
Shipping lines suspend Benghazi services as fighting in the area escalates
- Westports revenues fall despite rise in container throughput
Gateway container traffic and transhipment up 12%
- New companies will turn to Oslo OTC, Pareto predicts
Norway wins on speed and pricing, insists Høiby
- CMA CGM announces low-sulphur surcharges
French carrier informs customers of additional fees for 2015 in response to stricter emissions legislation
- Ship queue lengthens outside Los Angeles and Long Beach
Bulkers join boxships waiting to berth
- Euronav goes for second bite of IPO cherry
European tanker owner determined to succeed with US IPO this time
- Teekay LNG Partners sticks to long-term contracts to fulfil growth plans
Longer-term charter deals protect against exposure to market volatility
- Tanker Investments relying on winter market boost as it posts third-quarter loss
Teekay vehicle looking to generate 'significant' cashflow in coming months
- Höegh LNG orders fifth FSRU newbuilding
Vessel to be delivered from South Korean yard in 2017
- Evergreen considering 18,000 teu ships
CKYHE alliance may need to upsize ships to compete with other alliances
- Torm posts $26m loss as it seeks to finalise restructuring plan
Struggling Danish operator takes chance to slightly improve full-year forecast as it seeks to finalise Oaktree deal
- OW Bunker applies for court restructuring
Company discloses losses of $125m due to fraud in Singapore subsidiary and up to $150m in risk management losses
- Kinder Morgan grows Jones Act fleet
Pipeline company snatches two tankers from Crowley
- Box Ships looks for needed covenant relief
Containership operator continues to work with banks
- Safe Bulkers sees profits dive as charter rates sink
Greek bulker owner declares dividend of $0.04 per share
- Paragon books net loss of $6m from weak freight rates
But dry bulk company expects rates to improve to year-end and into 2015
- Baltic Trading sees net loss of $5.5m
Dry bulk operator attributes loss to 'challenging' environment
- Ocean Rig reports record earnings
Economou says company is insulated from market softness as backlog grows
- DryShips returns to profit
George Economou lifts stake to 16.9% after fundraiser that enables owner to cover bond dues
|NOVEMBER 6, 2014|
- US West Coast waterfront employers accuse ILWU of withholding LA-LB labor
LONG BEACH, California - Fearing that gridlock at the largest U.S. port complex is imminent, the Pacific Maritime Association today blasted the International Longshore and Warehouse Union for withholding skilled labor at Los Angeles-Long Beach. While at least a dozen factors contribute to port congestion in Southern California, "it is the ILWU...
- Transplace buys chemical logistics company LMS
Third-party logistics company Transplace is building up its chemical business by acquiring Logistics Management Solutions, a non-asset 3PL with a strong chemicals and industrial customer base. Terms of the transaction were not disclosed. The acquisition expands the $1.4 billion company's service portfolio and expands its presence in key verticals, including chemicals,...
- Canada gives TransForce approval to buy trucking rival Contrans
Canadian competition authorities gave a green light Wednesday to a deal that makes the biggest trucking operator in Canada - $2.9 billion TransForce - substantially bigger. The Competition Bureau issued a letter that clears the way for TransForce to complete its nearly $500 million acquisition of Contrans, a major Canadian truckload operator. The...
- LA-LB harbor drivers seek HOS waiver for congestion relief
Harbor truckers in Southern California struggling with congestion at the largest U.S. port complex are asking federal regulators for temporary relief from some national truck driver hours of service regulations. If the Los Angeles-Long Beach effort gains traction with the Federal Motor Carrier Safety Administration, the American Trucking Associations said it...
- US shippers appear to be diverting more cargo through Canada
U.S. shippers appear to be diverting a second wave of intermodal cargo through Canadian ports, as congestion at the ports of Los Angeles and Long Beach mounts. For the week ending Nov. 1, Canadian intermodal volume was up 10.0 percent year-over-year, marking the second week in a row of double-digit increases, according...
- US election could spell new - but short - opportunity for highway bill
WASHINGTON - The Republican takeover of the U.S. Senate could unblock the gridlock delaying a long-term highway bill, but the window for legislative action may be short. The Republicans "probably have only a one-year window to make some hay," C. Randal Mullett, vice president of government relations and public affairs for...
- Canada aims to allow shippers to self-screen air cargo
Transport Canada is proposing to allow shippers to screen their cargo before it reaches an airport, rather than solely relying on carriers to do so, in order to bridge security gaps and prevent terrorist attacks. The Canadian government said relying on carriers to screen all cargo for explosive devices would be...
- US Customs working to curb LA-LB congestion
To help reduce congestion at the ports of Los Angeles and Long Beach, U.S. Customs Border and Protection is offering extended gate hours to shippers and allowing them to schedule non-intrusive inspection appointments on nights and weekends. The agency has also hosted meetings with container lines and marine terminal operators, and...
- Concor's profit slumped 21 percent in fiscal second quarter
Rising operating costs coupled with the slowdown in international freight hauling hurt profit growth at Container Corporation of India, the country's largest intermodal logistics provider. Concor, an offshoot of Indian Railways, booked a net income of Rs. 191.88 crore (about $31.5 million) in the second quarter of its fiscal year, which...
- Sales tax hike to benefit Port of Oakland infrastructure
Roads and highways connecting to the Port of Oakland are on track for upgrades after Alameda County voters this week approved a sales tax hike that will fund $7.8 billion worth of transportation infrastructure improvements. Revenue gained through the half-cent sales hike to 1 cent will enable the county to...
- Maersk joins group monitoring ship emission compliance
Maersk Line has joined 10 other container lines and shipowners in a group known as the Trident Alliance to test enforcement of the new low-sulfur fuel regulations that go into effect on Jan. 1, 2015, in so-called emission control areas in North Europe and North America. The alliance will work together...
- WCI: Asia-Europe spot rates double while trans-Atlantic rates reach new lows
Rates from Asia to Northern Europe nearly doubled this week while trans-Atlantic rates dipped to new lows, according to the latest readings from the World Container Index. Full-size imageAll WCI trade lanes involving Shanghai jumped this week, but none more than Shanghai to Rotterdam spot rates, which jumped 89.3 percent after...
- Maersk Line Ltd. settles US military claim that it forged receipts
Maersk Line Ltd., the U.S.-flag unit of Maersk Group, has paid $8.7 million to the U.S. government in a civil settlement of claims that the carrier submitted forged receipts for military shipments to Afghanistan. The settlement was announced by Stephen R. Wigginton, U.S. attorney for the Southern District of Illinois, where...
- Contamination cited as top cause of tank-cargo claims
Nearly half of insurance claims filed with the TT Club for tank containers during the last nine of years have been caused by contamination, an official at the freight transportation insurer said. The most frequent cause of contamination is incompatibility of the tank with the cargo in it, Phillip Emmanuel, the...
- FMC chairman says agency is closely watching PierPass
U.S. Federal Maritime Commission Chairman Mario Cordero expects congestion at the ports of Los Angeles and Long Beach to ease in the next couple weeks, but, in the meantime, he said the agency is scrutinizing the PierPass program. Cordero, who spent most of Tuesday in Southern California talking to drayage drivers...
- NY-NJ panel expects chassis pool decision by year-end
A committee of the Port of New York and New Jersey's industrywide Council on Port Performance expects by year-end to decide between two competing chassis-pool models for "gray" chassis in the port. The council's equipment implementation team has narrowed its discussions to two options - a cooperative "market pool" managed by...
- Boom and bust in LA-Long Beach
Kansas City Southern Railway's Pat Ottensmeyer doesn't have a solution to the debilitating congestion plaguing the ports of Los Angeles and Long Beach, but he is making a pitch that could alleviate the pain some importers are feeling at the nation's largest port complex. Ottensmeyer, KCS's executive vice president and chief...
- Righting a NAFTA wrong on trucking
Nelson BalidoDemocratic politics in the early 1990s looked a lot different than they do today. The idea that a governor from Arkansas, one of a dwindling number of southern Democrats, could run a credible campaign - much less win the White House - seemed a pipe dream, especially in a party...
|NOVEMBER 6, 2014|
- Vibrant Hawaii lifts Matson
Matson has reported a better-than-expected quarterly profit after Hawaii's economy boosted freight movement.
- ISC in handy pullback
International Shipholding Corp (ISC) has cancelled one handysize bulker on order and is proposing to sell its three in operations.
- Oceanteam doubles up
Oceanteam Shipping has seen its profit double during the third quarter on increased revenue thanks to long-term charters and operations in Mexico.
- US owners boost spending
US shipowners have boosted their secondhand purchasing activity this year with their spending in the tanker, bulker and boxship markets on the rise.
- Carnival expands fleet
USA's Carnival Corporation is expecting its fleet capacity to rise by nearly 10% as four new ships join its fleet in the next 18 months.
- Hurtigruten profit up
Norwegian cruise and ferry group Hurtigruten has pushed up earnings in the third quarter as revenue improved.
- Rieber stays strong
Norway's GC Rieber Shipping has seen its third quarter profit jump thanks to high fleet utilisation.
- Poulsen teams with HBC
Danish owner J Poulsen Shipping has formed an alliance with Germany's HBC Hamburg Bulk Carriers in a pact that could set the scene for a full merger.
- Steady as she goes
The sale of three suezmax tankers slightly depressed the third quarter distributable cash flow of Teekay LNG Partners.
- Tokyo Kisen lowers sights
Tokyo Kisen has lowered its profit forecast for both the half and the full year.
- Lender's loan losses fall
German lender Commerzbank has revealed a big drop in loan-loss provisions in the third quarter.
- Dorian slips below Street
Dorian LPG has reported a smaller than projected second quarter profit in a period which saw a significant contribution from its spot trading ships.
- MES to stay profitable
Mitsui Engineering and Shipbuilding (MES) has forecast continuing but lower profit in the financial year ending 31 March 2015.
- Good and bad news at TNK
Stronger spot market rates have led to a return to profit for New York listed Teekay Tanker but the result was nevertheless below expectations.
- TIL positive after loss
Teekay spin-off Tanker Investments Ltd presented a positive read on the crude tanker markets as it reported a modest loss today.
- Wilson increases profit
A weaker summer and higher operating costs failed to prevent Norway's Wilson from posting a marginal profit increase during the third quarter.
- Deep Sea hires out duo
Deep Sea Supply has agreed on bareboat contracts for two of its newly-built platform supply vessels (PSVs).
- Hoegh declares FSRU option
Norway's Hoegh LNG has declared its option for a fifth FSRU at Hyundai Heavy Industries (HHI) in South Korea.
- Overseas banks pulled plug
Insolvent Danish fuel and tanker group OW Bunker was forced into a filing for court restructuring after overseas lenders withdrew their support.
- Teekay Corp misses Q3 forecasts
Teekay Corp missed analysts' projections in the third quarter due in part to lower output from one of its FPSOs.
- Torm to take in Oaktree fleet
Oaktree is likely to place a large slice of its products tanker fleet into Torm as part of a plan that may see the private equity firm take a controlling stake in the company, Jacob Meldgaard says.
- Aegean in the clear?
The potential collapse of Danish fuel and tanker group OW Bunker could provide opportunities for its main rival to boost margins and increase consolidation, according to US investment bank Stifel.
- Euronav restarts US IPO
Euronav has wasted no time in resurrecting its US initial public offering which was delayed due to market turbulence last month.
- CSC carries crude again
Ceylon Shipping Corp (CSC) has transported its first crude cargo for nearly 20 years.
- Hapag halts Libyan call
Germany's Hapag-Lloyd has halted a call in Libya due to fighting in the east of the country.
- Safe's net profit falls 87%
Safe Bulkers has just managed to remain in profit despite a difficult operating environment latest results show.
- DryShips back in black
DryShips has returned to profit in the third quarter helped by a large jump in revenues at its offshore drilling arm.
- Vietnam tanker arrested
Singapore's admiralty sheriff has detained a Vietnamese-owned chemical tanker, court documents seen by TradeWinds show.
- Paragon trims losses
Paragon Shipping has managed to cut its losses in the third quarter despite 23% decline in net revenues.
- OW files after $125m fraud
Danish fuel and tanker company OW Bunker, already battered by falling bunker prices, has filed for court restructuring after claiming it has been subjected to a multi-million dollar fraud.
|NOVEMBER 6, 2014|
- NEWSFLASH: Employers say longshore job actions have spread to Southern California
- No end for West Coast port congestion
- XPO sees huge 3Q revenue growth
- Transplace acquires chermical/industrial-focused 3PL
- BNSF Logistics deal beefs up project cargo team
- Maersk pays $8.7 million to settle complaint
- Crowley sells two Jones Act tankers
- Expeditors sees 11% earnings gain in Q3
- Dachser opens new Atlanta facility
|NOVEMBER 6, 2014|
- Shockwaves in the market as OW halts payments
Companies that are owed money fear they may never be paid.
- Bunker regulations: Enforcement 'completely inadequate'
Shipping industry facing a 'tidal wave' of environmental rules with sulphur controls at the leading edge.
- OW Bunker gains time
Court sets December 1 for restructuring plan.
- MPA backs IBIA's mass flow meter course
Next course in Singapore in mid-November.
- OW Bunker: More details emerge on fraud allegations
Chairman: 'Police investigations are ongoing.'
- Singapore: Short-term supply disruption possible
Fall out from events surrounding OW Bunker may hit market, says analyst.
- Shipping firm benefits from weaker bunker prices
Company expecting a 'healthier' shipping market to come.
- OW Bunker to undergo restructuring procedure
OW Bunker & Trading and OW Supply & Trading 'expected to be insolvent'.
- Glander International Bunkering expands Dubai ops
Adds Bunker and Lubricant Trader to its Dubai office.
- Russian bunker terminal closer to start of upgrading works
Government adds project to national scheme.
- Shipowners to track low sulphur bunker uptake
Survey launched to access developments towards ECA compliance.
- OW Bunker: Fraudulent activity, losses at Dynamic Oil
Preliminary findings suggest a potential loss of around $125 million at Singapore-based Dynamic Oil.