|NOVEMBER 13, 2014|
- Sun sets on Horizon as carrier broken up, sold to Matson, Pasha
- Beware of paying bankrupt OW Bunker lest you pay twice: insurer
- Maersk Line profit up 23.5pc to US$685 million, fresh tonnage on order
- West coast dock talks become testy as go-slows move south to LA
- With oversupply, Cosco chief sees no hope of shipping recovery in two years
- Evergreen: Falling oil prices risk higher ship speeds and more oversupply
- Oil prices must fall far before ships will abandon slow steaming: Clarksons
- Mexico revokes US$3.7 billion China rail deal when opposition cry foul play
- MSC switches to Lome as West Africa hub for Far East trade
- Ghana's Tema port gets set for big time, dredging 16 metres alongside
- More 5,000-TEUers plus to call at West African ports
- Uni-Top Airlines buys 51pc of GrandStar Cargo and debt burden
- Tehran, Lisbon sign air deal, first such Iran-EU treaty in 35 years
- Lufthansa Cargo to serve Norway's oil hub Stavanger-Houston route
- Korean Air flies Seoul-LA-Lima route through LAN code-share
|NOVEMBER 12, 2014|
- ITIC warns on pitfalls of confidentiality agreements
- Liberian Registry provides MOL-funded medical supplies to Ebola-hit Liberia
- Maersk Line, APM Terminals register profit in Q3 2014
- Hero MotoCorp eyes acquisitions to enter European market
- Andhra to develop 14 ports
- VOC Port Trust observes Vigilance Awareness Week
- 34 highway projects worth INR 26K cr. up for revival
- DHL appoints new Head for Air Freight Capacity Management in India
- New automobiles freight train starts from Melpakkam SATTVA ICD/Rail siding
- Trouble-free Europe-Asia transit seen as indispensable
- Increased production by CIL may help stop imports of coal: Goyal
- India might ink CEPA with CIS Customs union
- India, Russia boost ties through various pacts
- ISSDA wary about rising stainless steel imports
- Jaitley expects further dip in inflation; pegs GDP growth at 5.9 pc
- China plans $ 16.3 bn fund to revive Silk Road trade
|NOVEMBER 13, 2014|
- Vertrauen ist gefragt
- Anglia Freight expands fleet
- Röhlig snaps up Indian subsidiary
- More integration at Adriatic Gate Container Terminal
- TNT investing in European network
- Jet Aviation picks MUC team leader
- Maru elects Gary Sawyer to board
- GLS Italy opens new hub near Rome
- Fuel cell propulsion to replace diesel locomotives
- Horses jumping high in the sky
- Contargo appoints new executive to grow Benelux business
- London Gateway wins deep-sea container services
- EU studies on Timisoara airport freight development
- Crowley arrives in Africa
- First private car train rolling on India's rails
- Matson and Pasha splitting up Horizon spoils
|NOVEMBER 12, 2014|
- Potable water rules tighten for ships
Misunderstood or overlooked requirements are driving up violations of drinking water regulations on ships, according to providers of sanitation systems. Last year's introduction of the Marine Labour Convention's standards for Food and Catering lays down regular documented inspections of drinking
- New seal design extends eco protection
A new generation of seals for stern tubes and thrusters, based on a bottom-up redesign and offering reduced repairs, has been introduced by Stone Marine Seals. The Eco Seal replaces traditional seal design elements with a new internal architecture that avoids the need for any parts to rotate
- ITF wins US seafarer service award
The UK's Stephen Cotton, general secretary of the International Transport Workers' Federation (ITF), has been awarded the 2014 Admiral of the Ocean Sea Award by The United Seamen's Service (USS). Co-winners of the award were Joseph Cox, president/CEO of the Chamber of Shipping of America, and
- Cost could hamper Asia's take-up of LNG
LNG's high shipping costs could make it hard for the fuel to become significantly cheaper, said speakers at the International Energy Agency (IEA) press meeting today in London. Background costs for LNG - including extraction, liquefaction, and transport - combine to make it a more expensive source
- Thieves strike again in Mauritian port
Indian Oil Mauritius (IOML) informed police yesterday that it had uncovered a major theft of oil from its terminal within the port precincts at Port Louis, Mauritius. According to Le Mauricien newspaper, 114 barrels of lubricating oil, totalling 23,806 litres and worth Rs1.7M ($54,000), were found
- STX plans India LNG shipbuilding move
STX Offshore & Shipbuilding Co has offered to share technology with three Indian yards for constructing LNG carriers in India. But the beleaguered South Korean shipbuilder needs India's state-owned natural gas firm GAIL (India) to relax its terms on a tender for nine vessels to let it participate.
- Aquarius ballast treatment gets USCG nod
Wärtsilä's Aquarius EC Ballast Water Management System (BWMS) has been granted acceptance as an alternative management system (AMS) by the US Coast Guard (USCG), says the engine maker. With this clearance Wärtsilä has passed the first stage towards full USCG type approval, which the company aims to
- Boustead awards $78.3M contract to CAD
Malaysia-listed conglomerate Boustead Holdings has awarded a EUR63M ($78.3M) contract to Contraves Advanced Devices (CAD) to build six frigate-class patrol vessels for the Royal Malaysian Navy. The contract was issued by Boustead Naval Shipyard (BNS), a subsidiary of Boustead holdings, for
- Eitzen aims to swap its debts for equity
Eitzen Chemical, the listed Norwegian chemical carrier group, said today that it expects debt-to-equity conversion to repair its balance sheet amid widening losses. In the third quarter, the group lost $23.7M, compared with an $18.4M shortfall in the same period last year, while revenues slipped to
- HHI bags Abu Dhabi oilfield contract
Hyundai HI (HHI) has signed a $1.94Bn contract with Abu Dhabi Marine Operating Company (ADMA-OPCO) to develop Abu Dhabi's al-Nasr offshore oilfield in the UAE. As part of the second package of the al-Nasr Full Field Development Project, HHI will provide engineering, procurement, construction,
- Low oil price clouds Subsea 7's outlook
Subsea 7, a London-based seabed-to-surface construction company, warns that cheaper oil could make it harder for the firm to win new contracts. CEO Jean Cahuzac repeated a warning he has made throughout the year that the timing of large-scale projects remains uncertain. "This trend was
- Maritime job seekers hunt permanent work
Skilled seafarers are available in the job market but may need to be coaxed into the positions on offer through longer-term contracts, according to a new survey. Worldwide Recruitment Solutions (WRS) analysed 5,300 responses from job seekers and found the maritime industry has plenty of experienced
- MOL forms Clean Products Tankers Alliance
Japan-headquartered shipping company, Mitsui OSK Lines (MOL) has reached an agreement with Ultranav International (Ultranav), OSG International and Asahi Tanker to form a new product tanker pool. The new pool named Clean Products Tankers Alliance will operate a combined fleet of around 60 MR
- South Korean shipbuilders face credit rate cut
Several shipbuilders are among a host of South Korean firms that had their credit ratings downgraded, due largely to their poorer-than-expected 3Q earnings. Hyundai HI (HHI), the world's largest shipyard, was cut by one notch by two local rating agencies to "AA" from "AA+" due to its 3Q earnings.
- Six rescued after vessel collision
A total of six crew members on board a Chinese cargo vessel were rescued yesterday after a collision with a container ship off Xiamen, China. Chinese cargo vessel Hai Run 607 with six crew members on board collided with 2008-built 1,740teu container ship Hansa Siegburg late yesterday southeast of
- China coal imports down 7.7% y/y
China's coal imports declined 7.7% year on year to 243M tonnes in the first 10 months in 2014 due to competition from cheaper domestic coal. The drop in coal imports accelerated in October, according to China's latest customs statistics. Import prices fell 15.3% y/y to CNY475.6 ($77.6) per tonne
- Hoegh and Wallem Ship Management to set up JV
Hoegh Autoliners and Wallem Ship Management plan to establish a joint venture company in Singapore to manage 28 vessels operated by Hoegh Autoliners. The company will handle the technical management of all Hoegh Autoliners-owned vessels, a statement of Wallem said today. There are 28 owned vessels
- Samsung HI clinches contracts worth $700M
South Korean shipbuilder Samsung HI (SHI) clinched contracts to build two offshore platforms worth $700M. One of the orders was commissioned by Royal Dutch Shell (Shell) for construction of a substructure of a floating production unit (FPU); the project is already in the design stage. A SHI company
|NOVEMBER 12, 2014|
- Ray Bagley named NNS VP of Trade Operations
- Safety Alert: Accidental release of CO2 system
- Harvey Gulf opts for Advanced Logistics software
- Eastern celebrates another HOSMAX double
- SeaTech Solutions to design Nautilus seabed mining vessel
- Another Wärtsilä BWMS gets AMS approval
|NOVEMBER 12, 2014|
- Matson announces purchase deal for Horizon Lines' Alaska operations
- Mitsui joining partnership to form product tanker alliance
- Crowley teams with IbisTek to create Ghana joint venture
- American Association of Port Authorities presents awards to port industry leaders
- General Dynamics NASSCO begins product tanker construction
|NOVEMBER 12, 2014|
- Ross promotes his eco newbuild strategy
Billionaire investor talks publicly for the first time about purchase of four suezmax tankers and four VLCCs
- Fallout from OW Bunker bankruptcy continues
Owners using independent suppliers are warned to take care
- Lower crude prices fail to raise tanker stocks
Glut of cheap oil seen as boom for tonne mileage and bunker savings
- Transpacific volumes increase 9% in September
Increase comes despite port congestion and concerns over a west coast port shutdown
- Eitzen Chemical struggles in third quarter
Chemtanker owner in talks with creditors to strengthen balance sheet, while facing weaker Chinese chemical demand in 2014
- Matson fulfils ambition to expand into Alaska trades
Jones Act lines consolidate as Horizon break up allows Matson and Pasha to expand
- Maersk performance better than share price declines suggest
Macquarie says Danish shipping giant's third-quarter performance affected by $70m tax charge
- Tsakos elected chairman of Intertanko
New leader champions self-discipline but also better remuneration for industry
- Throughput continues to rise among top ranked ports
Combined volumes of top ten box ports up 5.6% in first nine months of 2014
- VLCC earnings steady as December loading programme poised to start
Steady and flat better than low and miserable
- K Line expands orderbook of capesize bulkers
Japanese conglomerate and TCC places joint order at Imabari Shipbuilding
- Containership queue outside LA/Long Beach lengthens
MSC Francesca largest vessel at anchor as 14 ships wait to berth
- Industrial regulator delays Port Hedland strike
Maritime engineers must vote on Teekay's enterprise agreement before going on strike
- Habben Jansen wants to revive Hapag-Lloyd's fighting spirit
Post-merger with CSAV, Hapag-Lloyd will take its place as the world's fourth-largest shipping company. But the new chief executive only wants the line to be the best
- What does the latest round of tanker results tell us?
Gradual freight market recovery appears to be more than just idle talk
- OSG benefits from gains on one-off items
New York-listed company sees rate gains for VLCCs and aframaxes
- Industry viewpoint: Action needed on port congestion
The growing problem of port congestion needs to be tackled by an industry forum at a global level
- Norden losses continue with weak dry cargo demand
Improvements in product tanker segment offers glimmer of hope for group
- Maersk to place ship orders in coming six months
Return to shipyards follows bumper results and need for capacity from 2017
- Horizon bought by Matson and Pasha Group
Matson takes over Alaska operations in $456.1m deal while Pasha is to acquire Hawaii business for $141.5m
|NOVEMBER 12, 2014|
- US releases toolkit to help ports plan, fund projects
The U.S. Maritime Administration today released the first phase of a manual aimed at helping port authorities plan and fund port infrastructure improvements. The first module, titled Funding Strategy Guide, is part of a broader Port Planning and Investment Toolkit aimed at helping U.S ports pay for maintenance and expansion work...
- Final shipment of Panama Canal gates arrives
The final shipment of gates for the new locks of the expanded Panama Canal arrived today, bringing the project that will allow for the passage of bigger vessels into its final stages. "We are now in the homestretch to complete the expansion," said Panama's President Juan Carlos Varela during a brief...
- Ryder, Mansfield Clean Energy team up to deliver CNG to bulk fuel fleets
Global truck and equipment lessor Ryder System and Mansfield Clean Energy Partners will join to offer a compressed natural gas fueling service to bulk fuel haulers, with Ryder supplying vehicles and truck maintenance facilities and Mansfield the CNG fueling stations. The goal is to convert more of the bulk fuel hauling...
- US, Brazil to study potential trade agreement
The Brazil-U.S. Business Council, which is affiliated with the U.S. Chamber of Commerce, has signed a cooperation agreement with the Brazilian National Confederation of Industry to conduct studies on a potential trade agreement and report back to both governments on the results. The BUSBC-led delegation brought more than 50 business leaders from...
- Lawsuit aims to block CSX effort to double-stack trains through Washington DC
WASHINGTON - A group opposing the reconstruction of a CSX Transportation tunnel in a Washington D.C. terminal that would allow the railroad to double-stack containers has filed a lawsuit challenging a federal decision to let the project proceed. The Committee of 100 on the Federal City today filed a lawsuit in...
- Dockworkers shut down SSA terminal in Oakland
The tinderbox that is West Coast ports caught fire again today when members of the International Longshore and Warehouse Union shut down the SSA Marine terminal at the Port of Oakland. The incident occurred at 10 a.m. local time when the terminal sent one ILWU work gang home because there were...
- Rising US chemical production spurs logistics, trucking, intermodal growth
A South African firm's decision last month to build an $8.1 billion plant in Louisiana that will triple its chemical production capacity in the U.S. underscores widespread growth in U.S. chemicals manufacturing and in supporting logistics and transportation services. Sasol on Oct. 27 made a final decision to build an ethane...
- Drewry's trans-Pacific benchmark spot rate declines 2.7 percent
Trans-Pacific spot rates sank 2.7 percent this week to $1,875 per 40-foot container. Full size chart. Drewry's benchmark spot rate from Hong Kong to Los Angeles lost all pricing gains associated with an Oct. 15 trans-Pacific general rate increase, and will rely on next week's Nov. 15 GRI to make up some...
- Strong container growth at major India ports
The number of export and import containers moving through major ports in India expanded 7.34 percent year-over-year from April to October, the first seven fiscal months, as the government of Prime Minister Narendra Modi is making port development a major priority. Full-size imageThe 12 state-owned ports cumulatively handled 4.66 million 20-foot-equivalent...
- Canadian spot truck volumes up 21 percent as US-bound freight grows
Full-size imageA 70 percent increase in truckloads moving from Canada to the U.S. and an improving North American economy boosted Canadian truck freight volumes in October, with spot market volumes rising 21 percent year-over-year, according to TransCore Link Logistics. On a month-to month-basis, spot market freight volumes stabilized at an elevated...
- Congress increases pressure on ILWU, PMA to reach deal
WASHINGTON - After weeks of remaining relatively quiet on U.S. West Coast labor tensions, Congress is raising its voice on the need for the International Longshore and Warehouse Union and waterfront employers to forge a new labor contract. Six senators from California, Washington and Oregon today sent a letter to the...
- Maersk weighs steps to boost trans-Pacific profits
Maersk Line is reviewing the ocean and inland services it provides in the trans-Pacific trade, a notoriously high-cost and unprofitable trade lane for container lines, with an eye to increasing the rates it gets for those services or eliminating those that don't make money. The Danish carrier is considering three measures to...
- Advancing Global Trade: Foreign Trade Zone Solutions Revealed
With 85% of companies engaged in overseas operations, changes in labor rates and fluctuating fuel prices can have a major impact on profits and the global economy. That's why it's no surprise that over 76% of companies are reassessing their inbound supply-demand network to consider Foreign Trade Zones (FTZs). This Aberdeen...
- Brazilian official promises $1 billion investment in ports next year
Although many in Brazil are dismayed by the lack of investment in the country since the much vaunted new Port Law 12.815/13, the nation's Special Ports (SEP) Minister Cesar Borges has asserted that 2.8 billion reais (US$1.095 billion) will be spent on the sector before the end of 2015. Speaking at...
- Intermodal at a critical crossroads
With intermodal loadings in record territory and the railroads pushed to the limit to move the volume, it might seem a bit strange to be sounding an alarm about a slowdown. But the intermodal industry is entering a period of vulnerability after a prolonged period of growth. While trouble isn't...
- Deutsche Post DHL earnings, revenue grow on strong express performance
Germany's Deutsche Post DHL booked higher third-quarter earnings as strong gains in international express and domestic parcel shipments offset shrunken margins at its global freight forwarding unit. The world's biggest mail and logistics company increased operating profit by 4.8 percent to 677 million euros ($846 million) in the three months through...
- Record Alibaba 'Singles' Day' sales reveal China delivery challenges
HONG KONG - The millions of products ordered online in China during the November 11 "Singles Day" will have to be delivered across mainland China in the next couple of weeks, placing intense pressure on distribution networks in the country. During the online shopping frenzy, sales by e-commerce giant Alibaba on...
- Customers to pocket bunker savings, but must pay low-sulfur levies, Maersk chief says
HONG KONG - The speed at which the oil price fell took Maersk by surprise as bunker fuel dropped $20 in the past month, but Maersk Group CEO Nils Andersen said customers would benefit from the lower prices. "Falling bunker prices will be transferred to the customers, with some modest delays,"...
|NOVEMBER 12, 2014|
- Beney to Navios
The top US-based shipping man for mammoth conglomerate Cargill has left his job after four years to take a senior commercial post with the Navios group, where he began his career.
- Washingtons grow stake
The family of Montana billionaire Dennis Washington has added more shares to their holding in Seaspan Corp.
- Investors rush to Matson
Matson saw its market capitalisation grow by $237m today after announcing that it would take over most of rival Horizon Lines.
- A bull, a bear, an eagle?
The battle matched a bull and a bear. But an eagle soared above it.
- Court OKs seized ship sale
A Canadian judicial official has approved the sale of a handysize bulker at the centre of a legal dispute in Montreal.
- Greek seizes MOL ship
A Greek shipping company has secured the arrest of a Mitsui OSK Lines car carrier in South Africa.
- Novoship loses appeal bid
The UK Supreme Court has rejected Novoship's efforts to appeal a ruling allowing a Russian businessman to retain over $100m in profit gained from corrupt charters.
- Bank grabs Tsangaris ship
Credit Agricole was on Wednesday the only bidder for 27,800-dwt bulker Niki T (built 1997), the third vessel in the fleet of Greek owner Tsangaris Bros which the French lender had foreclosed on over unpaid loans.
- Wilbur Ross talks tankers
Billionaire investor Wilbur Ross is "more in than out" of investing in suezmax tankers.
- GLOP signs for $450m
US-listed GasLog Partners (GLOP) has clinched a refinancing deal worth $450m.
- Rickmers taps bonds
Germany's Rickmers Holdings has sold another EUR 25m ($31.16m) of its five-year bonds to finance growth.
- Concordia sees red
A low level upturn in the tanker market has seen Sweden's Concordia Maritime post a bigger loss in the third quarter.
- DHT has VLCC loans in sight
DHT Holdings is confident it will wrap up financing for its two unfunded newbuildings in the first half of next year.
- Four more sue OW
More fuel suppliers have gone to court in Singapore in a bid to recover cash from bankrupt Danish group OW Bunker.
- Strong Q3 for Swissco
The recent acquisition of Scott and English Energy has almost doubled Swissco's earnings during the third quarter.
- Swiber posts a loss
A significant decline in revenue has made Swiber Holdings post a loss for the third quarter of the year.
- Bergen Bunkers halts deals
OW Bunker's Norwegian subsidiary Bergen Bunkers will not enter into any new ship fuel contracts following the collapse of its parent.
- Kayne slices Capital stake
Major shipping investor Kayne Anderson has cut back its holding in Capital Product Partners.
- Hold on to your cash
The Charterers P&I Club has warned companies owing money to bankrupt OW Bunker not to pay any bills to other creditors without checking with its experts first.
- Wallem wins Hoegh deal
Wallem Ship Management has clinched a deal to manage all of Hoegh Autoliners' vessels.
- Skagen cuts Avance stake
Harald Espedal's Skagen has cashed in stock worth almost $30m in VLGC specialist Avance Gas.
- Indonesia readies cash
Indonesia is preparing a subsidy scheme for shipping in a bid to boost economic growth.
- Eitzen in deeper deficit
Deeper red in the third quarter bottom line has been the result of lower charter rates for Eitzen Chemical, with the company still suffering from hefty long-term debt.
- Norden better than feared
Difficulties in the bulker and products tanker markets sent Norden to a loss in the third quarter.
- Subsea 7 stronger
Oslo-listed Subsea 7 has been boosted by Brazilian operations in the third quarter.
- Caspian yard coup
Royal HaskoningDHV and Witteveen+Bos have won an $18m deal to design a new shipyard in Kazakhstan.
- Mixed numbers at DESS
Deep Sea Supply (DESS) has posted a modest decline in third quarter net income, despite a hefty rise in revenue.
- OW: The arrests begin
Hin Leong Trading has fired the first shot in what is expected to be a large number of vessel arrests stemming from the bankruptcy of Danish bunker supplier OW Bunkers.
- Swissco bags rig charter
Swissco Holdings has secured a charter worth $115m for the provision of a service rig for an unnamed oil company.
- ADM bulker detained
Archer Daniels Midland (ADM) has seen one of its bulkers detained in the UK for failing a port state control inspection.
- TCC teams with K Line
Tai Chong Cheang Group (TCC Group) is teaming up with Japan's K Line in a capesize bulker joint venture.
|NOVEMBER 12, 2014|
- Newsflash: West Coast senators ask dockworkers and employers to reach settlement
- Port of Virginia achieves busiest box month ever
- Airport cargo volumes up in September
- JDA and IBM partner on omni-channel planning and fulfillment initiative
- Revenues up 4% at DHL
- Former Military Sealift Command contractors sail to jail
- North American intermodal volume rises 5.1%
- Transplace expands U.S-Mexico customs management portal
- Luxottica implements JDA planning system globally
- FMC reviews 14 OTI license applications
|NOVEMBER 12, 2014|
- IMO: Draft IGF code set for approval
MSC to meet at IMO headquarters in London next week.
- CMA CGM to add low sulphur surcharge on trade in ECAs
Will also apply to all cargoes being carried by its ships.
- 'Acoustic pollution' to be legislators' next target
'There is a strong link between fuel efficiency and noise. Quieter ships burn less fuel.'
- SGMF publishes 'mini' introductory guide
'For those who would like to know more about using gas as a marine fuel or intend to use gas as a fuel.'
- ARA player owed $10 million by OW Bunker
Efforts to secure money ongoing, including vessel arrests.
- Insurer warns against direct settlement of OW-related debt
Legal position of company unclear and could lead to players paying twice for the same bill.
- Shipowners scramble to cover OW Bunker shortfall
Singapore prices for 380 cSt material rise for the fifth consecutive trading day.
- Russian fuel oil export tax hike on track
Legislators approve plans despite opposition from Rosneft.
- Maersk Line: Box trade up
As bunker prices fall.
- OW's Norwegian subsidiary in limbo
Bergen Bunkers calls a halt to bunker trading.
- Four more firms launch claims against OW Bunker
Players predict 'wave' of court actions.
- Singapore: Tanker chartered to OW arrested
Dispute over ownership of bunker fuel cargo lands in court.
- Malacca drafting bunkering, port development plans
Minister proposes modelling infrastructure after Sweden's Gothenburg port.
- Titan Petrochemicals move to next stage of creditors scheme
Deadline for creditors to claim 'accepted liabilities'.
- Report: No response from OW Bunker on lawsuit
Police in Denmark still waiting for contact from OW Bunker.
- Helsinki-based shipping firm to apply ECA surcharge
Effective date will be from January 1, 2015 onwards.
- Undeclared bunkers land shipowner in court
Authorities seized more than 12 mt of undeclared bunkers.
- Papua New Guinea to add new bunker player
Singapore-based company in expansion move.