|AUGUST 8, 2014|
- Rotterdam, Hamburg congestion grows as Maersk adds own surcharge
- CSAV raises US$108 million for seven boxships and Hapag-Lloyd merger
- Egypt announces plans for parallel Suez Canal ending one-way convoys
- CSCL must pay US$2 million after ship crashes into Genoa quay crane
- DHL quarterly profit up 9pc to US$615 million as revenue rises 1pc
- Port productivity up, but not enough to cope with big ships to come
- North America spends US$2 billion on logistics M&As in single week
- GE to invest US$2 billion to boost African energy, infrastructure
- Marine online market Shipserv signs on Hong Kong's ID Shipmanagement
- Singapore's RK Shipping launches Yangon-Port Klang box ship service
- Moscow threatens EU with no-fly zone over Russia in face of sanctions
- Lufthansa resumes flights to war-torn quasi-independent Iraqi Kurdistan
- Hacis doubles business with its biggest customer Expeditors Hong Kong
- Global June air cargo demand up 2.3pc as Asia-Pacific grows 4.9pc
- Sheremetyevo worries EU sanctions may close its air cargo facilities
|AUGUST 7, 2014|
- Egypt to expand Suez Canal
- India & Bangladesh agree on settlement of insurance claims, ship standards
- Transpacific spot freight rates surge in early Aug.
- India's exporters asked to take advantage of Russian ban on food, agri products from US & EU
- Corporatisation of Major Ports likely to gather impetus in Parliament's winter session
- Ministry of Shipping takes charge of ship breaking industry
- Gati Ltd's Q1 consolidated net profit up 111 pc
- PPP projects profitable for Railways
- Sarr Freights partners FCI in transporting rice to North-East
- India wants a permanent solution at WTO, says Sitharaman
|AUGUST 7, 2014|
- Deltamarin wins EUR 1.8 million icebreaker design contract
- NTSB reports on Mobile barge fire and explosions
- North Dakota (SSN-784) completes alpha sea trials
- Tidewater orders Wärtsilä designed MPSV in Turkey
- Austal USA launches LCS 8
|AUGUST 7, 2014|
- Port of Camas-Washougal sets contract for Hambleton Lumber Mill cleanup project
- Boeing taps Ryan Hartman as Insitu president, CEO
- United States, Kenya agree to Customs Mutual Assistance pact
- Port of Kalama considering bids for TEMCO dredging project
- Department of Commerce releases import/export numbers for June
|AUGUST 7, 2014|
- Don't be despondent, owners: product tanker earnings are set to rise
Oil demand growth ahead of winter should have a knock-on effect on oil products
- Western Bulk sees glimmer of hope in supramax sector
Recent indications suggest some improvements, but no bonanza, says chief executive
- Scorpio sets sights on 20,000 teu titans
Industry opinion divided on whether new player is to enter boxship market
- Diana Containerships acquires post-panamax pair
Purchase of sisterships, currently employed by Yang Ming, follows equity injection by investors
- Höegh LNG Partners prices IPO
Offering priced at $20 per unit; trading starts today, IPO to close around August 12
- Top Ships ekes small profit for second quarter
Result reflects delivery of first tanker since fleet clean-out last year
- Teekay Tankers narrows losses
Rise in spot rates leads to improvement
- Revenues up but profits down for box lessors
Textainer and CAI both report increases in profits during the second quarter
- Fortress agrees to buy $100m of Attica Group bonds
Investment group's support comes as Greek ferry owner seals comprehensive deal with banks
- India to reform state port tariffs
Partial deregulation seen as step in right direction
- Rotterdam forced to take action as cargo disruption escalates
Port authority adopts three measures to alleviate congestion
- NOL sees $54m second-quarter loss
Half-year shortfall reaches $152m as Singapore-listed company is hit by bad rates environment, but makes gains in costs savings
- Asia-Europe volumes continue to climb in June
Volumes on the trade lane up 9.8% compared with a year ago
- P3's Lars Mikael Jensen takes new Maersk role
The man tasked with running the P3 joint fleet centre finds new home in Asia Pacific region
- Investment in Kenyan port offers South Sudan alternative oil export route
Could this be the start of an end to feud between South Sudan and Sudan?
- US Cameron decision to spur orders for 18 LNG tankers
Mitsubishi and Mitsui ready to book vessels for US-Japan shipping requirement
- Behind Pacific Basin's muted half year
The Hong Kong-listed handysize specialist was hit by a big one-time loss, but underlying dry bulk earnings were weak
- Teekay LNG Partners highlights strategic relationship with China
US-listed gas shipping company looks east
- Western Bulk sees gains in weak dry bulk market
Profit includes $13m gain from sale of claim against Pan Ocean
- Rio Tinto ships record volume of iron ore in first half
Australian miner remains confident on China demand
- ICTSI sees 9% growth in core profits in second quarter
Philippines port operator's first half given a lift in volumes by new terminals in Mexico and Honduras
- Tanker Investments stays focused on brighter prospects despite loss
Greater volatility in spot tanker rates has been key difference from past few years, says TI boss William Hung
- Restructuring costs knock Wilh. Wilhelmsen
Slight increase in shipping activity likely to continue
- Genco decision sets table for Eagle Bulk case
Hedge fund creditors likely to gain upper hand in restructuring
- The company results round-up
Second-quarter figures from NOL, Top Ships, Teekay and others
|AUGUST 7, 2014|
- Höegh LNG Partners shares soar on debut
Höegh LNG Partners debuted as a listed company on the NYSE today, after completing a $192M initial public offering (IPO) priced at $20 a share, the mid-point of the $19-21 intended range. The stock, trading under ticker symbol 'HMLP', elicited a buoyant and hectic initial market response. It was
- Ships advised on how to deal with Ebola risk
The International Chamber of Shipping (ICS) has provided a protocol for commercials ships encountering boatloads of migrants from parts of Africa affected by the Ebola virus. Depending on the area, preventive measures might differ, however "in places like Liberia, which have recently identified a
- Top Ships posts profit
Top Ships has begun the second phase of its life as a public company with a modest profit, reporting a 2Q14 bottom line of $0.21M to add to the delivery of its first eco-design MR tanker in late June. The Evangelos Pistiolis-led company eliminated its original fleet between 2011 and 2013, with the
- Navigator unveils Borealis ethane transport deal
Navigator Holdings has unveiled a 10-year timecharter with chemical and fertiliser major Borealis for one of its four 35,000m³ ethylene/ethane-capable semi-refrigerated liquefied gas carriers under construction at Jiangnan Shipyard in China. The deal underscores the potential of low-cost US ethane
- Malta makes record cigarette haul
Maltese customs officials have seized a record 64M cigarettes at the Marsaxlokk Freeport. The cigarettes were hidden in nine 12m-long containers that had been declared as carrying furniture and toys. They arrived from Asia and were bound for the EU. Customs officials scanned the containers after
- Teekay group optimistic on tanker market prospects
An accounting gain on the sale of two very large crude carriers (VLCCs) propelled NYSE-listed Teekay Tankers to a second-quarter profit. However, its Oslo-listed stablemate from the Teekay group, Tanker Investments Limited, remained in the red. The developments came as the companies' progenitor,
- New Times wins Cargill Capesize pair
Chinese shipyard New Times Shipbuilding has won an order for two Capesize bulkers from US-based commodity trader Cargill. The two 180,000dwt vessels will have an overall length of 291.90m, beam 45m, and depth 24.75m. They are scheduled for delivery in February and July 2016. The vessels will be
- Tersan secures Tidewater MPSV
Turkish yard Tersan has secured an order for a multi-purpose platform supply vessel (MPSV) from Houston-based offshore service provider Tidewater. The newbuilding will be designed by Wärtsilä and equipped to operate in Arctic conditions. It is scheduled for delivery in 2016 and there are options for
- NOL posts 2Q14 loss, cost management improves
Singapore-listed shipping container and shipping company Neptune Orient Lines Limited (NOL) posted a net loss of $54M in 2Q14, compared with a loss of $35M in the corresponding period last year. The company's revenue saw a slight dip of 1% to $2.05Bn in 2Q14, from $2.06Bn in 2Q13. NOL did improve
- Port of Rotterdam acts on congestion
Top European container port Rotterdam has moved to tackle concerns about increasing congestion that have led shipping companies to divert calls to other ports and others imposing surcharges. The port has announced three measures aimed at eliminating congestion at the ECT Delta and Euromax terminals.
- ICTSI income climbs 23% to $101.7M
Philippines-based International Container Terminal Services Inc (ICTSI) today announced that its 1H14 net income rose by 23% year-on-year to $101.7M. Overall port operations revenues also increased by 23%, from $413.7M in the first six months of 2013 to $510.3M in 1H14. Earnings before interest,
- Rio Tinto 1H14 earnings up 21%
Rio Tinto today reported its first-half underlying earnings rose by 21% year-on-year to $5.1Bn. Net earnings were up by 156%, to $4.4Bn. Debt had dropped to $16.1Bn on 30 June 2014, from $22.1Bn on 30 June 2013. Iron ore and thermal coal shipments were at record volumes because of increased capacity
- Turkish companies to take over UN Ro-Ro
US private equity firm KKR has agreed to sell Turkish ro-ro operator UN Ro-Ro to Turkish investment companies Esas Holding and Actera Partners. The terms of the sale, which has still to be approved by the Turkish competition authority, have not been disclosed but Bloomberg reported a source as
- Sainty Marine to raise CNY1.6Bn for newbuild projects
Shenzhen-listed Sainty Marine announced yesterday that it plans to issue 187M shares to specific investors at CNY8.48 ($1.38) per share to raise CNY1.6Bn for newbuilding projects. The company has continued winning new orders this year, amounting to a total of $1.5Bn. To maximise its profit, it plans
- Vard receives $31.8M Brazilian tax claim
Singapore-listed offshore shipbuilder Vard Holdings, has received a tax claim for FY2010 from tax authorities in Brazil, and is looking at the need to make provisions for additional tax costs. Vard has been notified that the Brazilian authorities have concluded a tax assessment resulting in an
- Adani Port quarterly net profit grows 36%
Adani Ports and Special Economic Zone (APSEZ), owned by Indian billionaire Gautam Adani, has reported a 36% year-on-year rise in quarterly net profit during April-June to INR5.68Bn ($94.6M). India's largest port developer's consolidated total income from port-related operations stood at INR1.43Bn,
- 'Buy on dips' for Nam Cheong shares
Singapore-listed offshore service provider Nam Cheong's shares were given 'buy on dips' recommendation. Lee Yue Jer, offshore and marine analyst from DMG & Partners expects Nam Cheong to continue to deliver sturdy quarterly earnings of around MYR55M ($17.1M) and forecast the company to perform
- China Ocean in JV with Zhoushan partners
In order to tap into the shipbuilding industry Hong Kong-listed China Ocean Shipbuilding Industry has teamed up with a Chinese fund in Zhoushan, China. The company will invest CNY400M ($64.91M) in a joint venture under the name Zhoushan China Ocean Investment Fund, with the other two local partners
- JLI to invest in US LNG project
Japan LNG Investment (JLI), a joint venture between Nippon Yusen Kabushiki Kaisha (NYK) and Mitsubishi Corporation (MC), announced on Tuesday that it will invest in Cameron LNG (CLNG), a natural gas liquefaction and export business in Louisiana, the US. The total expense of the project is expected
- Vallianz records strong earnings for 2Q14
Singapore-listed vessel and equipment owning company, Vallianz Holdings (Vallianz), saw a stellar rise in its profit for 2Q14 due to strong contributions from vessel chartering. The company's profit for 2Q14 surged 107% year-on-year to $6.8M from $2.8M from the corresponding period last year.
- GAIL loyal to Indian yards
A tender floated by GAIL (India) Ltd for timechartering nine new liquefied natural gas (LNG) ships has stipulated that three must be constructed in Indian shipyards. India's state-run natural gas firm floated the tender to shipowners/operators for their vessels to haul gas from the United States for
|AUGUST 7, 2014|
- 40-foot container capacity tight across US in first half
Inland 40-foot container capacity was at a premium in the United States in the first half of 2014, although space is becoming more available as the second half advances. In the first 26 weeks of 2014, demand outweighed availability at three of five inland points covered by the U.S. Department of...
- Vancouver's TSI says it will keep US-bound cargo commitments
REVISED: TSI Terminal Systems, the largest operator of container terminals at Port Metro Vancouver, says it will continue to accept U.S.-bound rail cargo at the Canadian port despite another terminal operator's announcement that it will turn down U.S.-inbound rail shipments. Today's statement by TSI follows an announcement on Wednesday by DP...
- Cold Train ends intermodal service, citing poor BNSF performance
Cold Train, a provider of refrigerated intermodal transport from Washington state throughout the rest of the country, has ended service, citing poor BNSF Railway performance. Cold Train said it was forced to suspend its service from Quincy to 24 U.S. states and Ontario because of BNSF's decreased on-time reliability, reduction in...
- Maersk levies surcharges on US inland shipments
Intermodal volumes have been on the rise for more than a year, and additional stressors and peak-season volume surges have pushed Maersk Line to announce new tariffs on U.S. inland import and export shipments. Maersk Line announced the tariffs Aug. 7 in a letter to customers. Although the increases in charges...
- 'Optimistic' truckers want to add capacity, GE Capital says
Growing optimism about the strength of the U.S. economy, freight demand and their ability to raise rates has more trucking companies thinking expansion. But tight profit margins, rising operating costs and a shortage of truck drivers are likely to check potential growth. In the second quarter, 45 percent of trucking companies...
- Rickmers Maritime's profit more than doubles
Rickmers Maritime's profit more than doubled in the second quarter as the Singapore-based container shipowner got a 20 percent discount on an early loan repayment. Net profit grew to $16 million in the three months through June from $7.7 million in the same period in 2013, for a first-half total of...
- Zeebrugge container traffic growth outpaces larger rivals
Zeebrugge's container volume rose 9.9 percent year-over-year in the first half of 2014 from 2013's 961,000 TEUs. Full-size chart The port of Zeebrugge boosted container volume by 9.9 percent in the first half of the year, easily outpacing growth at larger rivals in the Le Havre-Hamburg range. Container traffic reached 1.06 million 20-foot...
- Russia bans agriculture exports from EU, US, others
Russia is banning nearly all agricultural imports from countries supporting trade sanctions on Russia. President Vladimir Putin announced the sanctions Wednesday, but a full list of imports, including 11 products from Australia, Canada, the U.S., the European Union and Norway, was released today. The list of imports now barred from entry includes...
- Thousands of empty containers still clogging Manila port
Manila's container congestion saga is defying all efforts to resolve it. The Philippines Bureau of Customs estimates that 75,000 mostly empty 20-foot containers are waiting to be collected in the choked port. A target of clearing the boxes by Aug. 15 looks impossible, despite the urgency to free up the port...
- Rotterdam moves to ease congestion
The port of Rotterdam today announced a series of measures to eliminate congestion at two large container terminals and free up quay and labor capacity for oceangoing vessels. Inland waterway barges and feeder ships transporting export and import containers will be diverted from the congested ECT Delta and Euromax terminals to...
- APL volume falls as carrier struggles to find profitability
APL Gwangyang in Singapore.NOL Group today posted a second-quarter net loss of $54 million as container volume carried by its liner shipping division APL fell 6 percent, mainly due to the lower-yield backhaul and Asia-Middle East trades. The shipping and logistics group reported a first-half net loss of $152 million, but...
- One-off gains drive up ICTSI's first-half results
International Container Terminal Services saw profit, revenue and volumes increase at double-digit rates in the first half of 2014, but most of the gains were a result of non-recurring items or contributions from new terminals in Mexico and Honduras. The Manila-based port operator reported a net profit of $101.7 million in...
- India's largest port developer boosts profit on higher cargo volumes, lower costs
Adani Ports and Special Economic Zone, India's largest port infrastructure developer, reported a 36 percent jump in first-quarter net income, driven by higher throughput volumes and operational efficiency that helped cut costs. The company booked consolidated net income of Rs. 568 crore (about $92.6 million) for the three months to the...
|AUGUST 7, 2014|
- Recycler plots expansion
Yangzijiang Shipbuilding of China is planning to triple the capacity of its recycling facility in Jiangsu Province.
- Yangzijiang's evolution
A crusade to expand Yangzijiang Shipbuilding's product line has ignited questions about the future of divisions that don't support its core business.
- Yard targets new markets
One of China's largest shipbuilding conglomerates appears to be mounting a crusade aimed at breaking into segments dominated by rival clans in South Korea.
- YZJ clinches upgrade
Forecasters at a leading Malaysian investment bank are urging clients to accumulate shares of Yangzijiang Shipbuilding on the back of its improved performance in the second quarter.
- Aker hatches buy-back
Aker Philadelphia Shipyard of the US is moving forward with a campaign aimed at repurchasing up to 10% of it's owns shares.
- DCIX expands its fleet
Diana Containerships has agreed to the purchase of two post-panamax container vessels from Japanese owner Shoei Kisen Kaisha, at the price of $22.2m each.
- Japan's eco lead
Japanese eco bulkers are out performing vessels built in other nations by up to five tons of fuel per day, Western Bulk says.
- Hoegh MLP in $192m IPO
Hoegh LNG Partners could rake in up to $220.4m from its listing on the New York Stock Exchange.
- Navigator newbuild fixed
Wilbur Ross backed Navigator Holdings has secured a long term contract for one of its four ethylene/ethane carriers amid suggestions orders for very large ethane carriers (VLECs) could follow.
- NOL records Q2 loss
Neptune Orient Line (NOL)'s net loss for the second quarter of 2014 climbed 55% to $54m from the same period of 2013, when the net loss was $35m.
- YZJ's stellar quarter
Yangzijiang Shipbuilding has impressed the market with a "stellar" second quarter performance.
- Western Bulk better
A gain on the sale of its charter claims against Pan Ocean has helped Western Bulk to an improved second quarter performance.
- TNK back in black
US-listed Teekay Tankers (TNK) has returned to profit in the second quarter as it cut costs.
- Viking aids Transatlantic
An improved performance from its offshore division Viking Supply Ships has helped lift Rederi AB Transatlantic into the black in the second quarter.
- Loan losses slashed
German lender Commerzbank has cut back loan-loss provisions in the second quarter as it grew profit.
- Tidewater orders MPSV
US-based Tidewater has placed a new order for a multi-purpose platform supply vessel (MPSV), which will be built by Tersan Shipyard in Turkey.
- Temporary cash flow dip
Tanker sales, dry dockings and the end of shuttle tanker contracts have led to a dip in second quarter cash flow at Teekay Offshore.
- Teekay LNG locks in $11bn
New York-listed Teekay LNG Partners has bumped up its contracted forward revenue to $11bn with recent ship orders, it has revealed.
- Teekay Corp a cent ahead
Teekay Corp has reported a marginally smaller than projected second quarter loss and guided that a key FPSO project is on track.
- d'Amico's double deal
Italian owner d'Amico appears to have secured a firm price for two of its oldest bulkers - the Shanghai Shipyard Co-built, 37,000-dwt Cielo di Monfalcone and Cielo di Vancouver (both built 2002) - which are said to have fetched $12m each.
- Nokta clocks on
Star equity analyst Omar Nokta has officially opened the next stage of his career in the US offices of Clarkson Capital Markets (CCM).
- TIL in the red
Olso-listed Tanker Investments Ltd (TIL) has continued to rack up losses in 2014 despite a boom in rates.
- Wilhelmsen falls short
Wilh Wilhelmsen ASA has reported a weaker than expected second quarter profit.
- Hedland strike averted
The Australian Institute of Marine & Power Engineers (AIMPE) has called off a tugboat strike that could have severely disrupted shipping movements at Australia's largest iron-ore loading terminal.
- Attica strikes debt deal
Greek ferry group Attica Holdings has sealed an agreement with lenders to refinance its loans over the long-term.
- Navigator in profit windfall
US-listed gas player Navigator Holdings raked in the cash during the second quarter of its current financial year.
- Tallship drug bust
What was supposed to have been a triumphant return from a six-month voyage to the New World has ended in an embarrassing finish for the Spanish navy and its sail training ship Juan Sebastian Elcano.
- Hedland strike looms
Delays are expected at Australia's Port Hedland iron-ore export terminal as crews on board tugboats that service the port threaten industrial action.
|AUGUST 7, 2014|
- Russia halts host of U.S., EU imports
- Seaboard Marine already benefits from PortMiami Tunnel
The company issued a statement on Sunday, the tunnel's first day open to traffic, saying that the first dozen containers to move on trucks on the dedicated roadway were from Seaboard.
- U.S. exports reach record $195.9 billion in June
- NOL reports $54 million loss for second quarter
APL attributed a 3-percent increase in costs of sales per FEU "largely to a nation-wide trucking shortage in the U.S., port congestion issues in Southern California, as well as empty equipment repositioning costs."
- July boost in limestone cargo for Great Lakes carriers
- DOT releases $333.9 million for emergency road repairs
"We are making good on our promise to help residents in states affected by natural disasters and other emergencies," said Transportation Secretary Anthony Foxx in a statement.
- U.S., Kenya ink customs mutual assistance agreement
- Sunland, Artisan Logistics partner
- MSU and PSU top Gartner undergrad supply chain program rankings
The report suggested supply chain companies targeting new talent aim to recruit in the fall, not the spring, "or risk the near 100-percent placement rates shutting you out of that year's candidate pool."
- FMC reviews 11 OTI license applications
- Record container volumes in Port of New York/New Jersey
|AUGUST 7, 2014|
- Mixed price movements across Europe
Hamburg reports slow demand.
- Avails remain tight in Fujairah
South African markets remain soft.
- Teekay LNG's net income up slightly
CEO sees 'strong long-term fundamentals' for marine-based liquefied gas transportation.
- Deltamarin bags LNG-fuelled icebreaker design contract
Vessel's use of diesel and LNG expected to lower emissions and operating costs.
- 'Prospects uncertain' as shipping group sees losses widen
'Persistent oversupply is limiting the pace of liner freight rate recovery,' says NOL.
- Stocks climb but 'on-spec product' tight
Premiums for 380 cSt bunker fuel are widening.
- Gibraltar claims EC ruling lifts threat to bunker policy
European Commission findings are 'hugely significant'.
- Asian prices remain soft
Typhoon disrupting bunkering activities in Busan.
- 'Bunker stations' part of Suez Canal project
New channel is part of a larger project to expand the ports of Suez, Ismailia and Port Said.
- Profits down for US terminal company
Firm recorded an increase in marine storage revenue of $2.6 million.
- Fishing giant reaps benefits from fleet renewal
'Relatively steady' bunker costs aided top line growth in H1.
- Typhoon hits South Korea bunkering operations
Typhoon Halong is the third super typhoon in the Pacific.
- Shipbuilder seeking financial support
To finance construction of dual-fuel and modern vessels.
- CARB starts 'sunset review' of OGV fuel regulation
Rule may cease if North America ECA achieves equivalent emissions reductions.