|SEPTEMBER 15, 2014|
- A-E rate down 6.6pc to US$1,055/TEU - USWC off 4.7pc to $2,195/FEU
- G6 cancels A-E, USWC voyages due to seasonal changes in market demand
- Union-boss common front to go to court against NY Waterfront Commission
- Decline of reefer fleet to increase reefer box capacity 22pc by 2018
- South Carolina upgrades seek to make its port facilities best in US
- China Shipping receives second to last of eight 10,000-TEU containerships
- Asiatic Lloyd of Singapore takes delivery of its second 9,034 TEU vessel
- Slovenia's Koper port expansion now can accommodate 10,000-TEU ships
- Asian Logistics and Maritime Conference to be held in HK November 18-19
- Asian demand drives Finnair to fly to Dublin, Athens, Malta next summer
- Seabury Group expands cargo advisory team to cope with increasing demand
- Merged at last: AA Cargo and US Airways Cargo become one on October 20
|SEPTEMBER 12, 2014|
- Govt keen to boost transportation thru' inland waterways
- SCI announces direct service to Myanmar
- Govt to take steps to boost exports from SEZs
- Companies shortlisted for developing JN Port's new liquid cargo terminal
- Cruise tourism in Goa to get a boost from new MPT terminal
- DP World Chennai announces launch of IFX service
- MANSA calls for clearing ICD box backlog at gateway ports
- AIMTC supports Driver's Day, a social initiative by Siddhi Vinayak Logistic Ltd (SVLL)
- Railways' goods earnings up 10.18 pc during April-Aug.
- Toll-free helpline no. for perishable food transporters launched
- Centre not to impose anti-dumping duty on solar panel imports
- Economy will grow at 5.6 pc, says UNCTAD
- Fag-end recovery fails to cheer INR, ends weak at 60.66
- Forex reserves recover by $ 1.32 bn to $ 317.31 bn
- Govt to launch INR 2 lakh cr. worth infra projects this year: Gadkari
- Congratulations to the winners & nominees of MALA 2014
- L&T secures INR 1,885 cr. contract from NTPC for steam generators in UP
- MALA 2014 has the fraternity enthralled
|SEPTEMBER 15, 2014|
- 50 years of Wascosa
- K Line remains part of DJ sustainability index
- UK: NFT places large truck order
- Active Logistics changes management team
- US shipyards benefit from domestic energy production
- Newly positioned BLS Cargo faring well
- Fastjet fills hold with "freighty" passenger service
- Cryogenic logistics leader augments team
- G6 Alliance cancels voyages on Asia-US west coast trade
- CSX invests in railroad incident response
- Oman Air expands with new sales director
- Royal Jordanian Airlines too - and also RA3
- Joint venture to tackle traffic problems
- Rohlig increases presence in Melbourne
- Favourable fortune cookie for ICTSI
- New rule to prevent unintended movement of trains
- Ukraine International now ACC3 EU certificated
- «Weg wie warme Semmeln»
|SEPTEMBER 12, 2014|
- JonRie equips Haifa Harbor docking tugs
- Vard orders Rolls-Royce equipment for Rem OCV/AH
- Wärtsilä wins order for first LNG fueled bulker
- ZF Marine Propulsion launches new products at SMM
- Bollinger VP Dave Marmillion to retire
|SEPTEMBER 12, 2014|
- Parties continue negotiations for Longview propane/butane terminal
- FMC schedules port congestion conference at Port of Los Angeles Administrative Building
- Seattle-based Coast Guard cutter returns from Arctic operations
- Port of Seattle Commission formally names Fick CEO
- US rail freight traffic count increases during week
|SEPTEMBER 12, 2014|
- Suezmaxes in Black Sea and Mediterranean head both east and west
Longhaul voyages boost the 1m barrel crude tankers
- Aronnax@SMM: Small variation that can carry a huge cost
FREE CONTENT: Differences in fuels' energy levels can mean a lot less bang for your buck
- Week on Wall Street | September 12
FREE TO READ: Scorpio Bulkers launches a baby bond and Vantage scores a point over TMT
- Vale and Cosco's 14-carrier deal casts doubt over Beijing ban on valemaxes
UPDATE: Chinese state giant will buy four vessels and build 10 to ship Brazil iron ore
- Globus eyes ultramaxes
Bulker owner looks at acquisitions as it seeks to unload older panamax
- Crunch time for Tehran as the UN revisits the regime's nuclear capability
Will the US and Saudi Arabia let Iran resume exports as oil prices hit a long-time low?
- Failed September rates push puts container firms back to square one
This month's stalled bid makes a November GRI inevitable, say brokers
- SMM 2014: Tanker owners risk detention for failing to comply with Ecdis
Tardy retrofitting could leave almost half the world fleet without mandatory equipment
- Extending the Jones Act by proxy
Harsh penalties against BP for the Macondo oil spill create a barrier to foreign firms
- SMM 2014: Singapore's Pioneer Marine places 22-ship ballast water system order
Deal is believed to be the largest single order to date for soon-to-be-mandatory equipment
- Stena Bulk saves $9m thanks to slow steaming and better fuel-efficiency
Technical changes make all the difference to a 100-tanker fleet
- Post-holiday blues as G6 cancels Asia-US west coast voyages
APL, Hapag-Lloyd, Hyundai, MOL, NYK and OOCL pull CC2 and SC1 sailings
- Suezmax tanker earnings have 'interesting' medium-term prospects, says Hånell
Stena Bulk boss hails remarkable increases in daily rates as trade patterns change
- FMC forum debates US port congestion
Stakeholders head to Los Angeles to talk implications and solutions
- CSAV to quit two MSC joint services to secure Brussels' approval
European Commission reveals competition fears over Caribbean and west coast South America
- It's normal for the FMC to probe vessel-sharing plans, says Jensen
US antitrust body must approve both the 2M and Ocean Three tie-ups
- Capesize market stalls
Pacific basin crowded with available tonnage as Australian miner chartering activity drops
- Will the Nicaragua Canal be a game-changer for containerised shipping?
Planned waterway could mean new competition for the Panama Canal
- Nasdaq announces NewLead delisting date
Greece-based dry bulk operator was unable to meet exchange's milestones and loses exception status
- US imports hit an all-time high
Retailers stockpile as west coast stevedore contract agreement remains elusive
|SEPTEMBER 12, 2014|
- European Commission approves Hapag Lloyd-CSAV merger
The European Commission has given conditional approval to the planned merger between Germany container line operator Hapag Lloyd and Chile's CSAV. It said that it had made its approval conditional on the withdrawal of CSAV from the Euroandes and Ecuador Express consortia but that the two companies
- Xiamen secures PCTC pair
Chinese shipyard Xiamen Shipbuilding Industry has signed a contract for one firm and one optional pure car truck carrier (PCTC) with compatriot shipowner Shanghai Zhongfu Shipping. The delivery date for the 2,100ceu vessel was not revealed but estimates put the likely date towards the middle of
- Zhejiang Ouhua adds four NORD options
China's Zhejiang Ouhua Shipbuilding has added an order of four containership options from German owner Reederei NORD. Delivery of the four 1,700teu containerships is scheduled to start in the 2H 2016 and brings the total number ordered by the owner at the yard to 16. The original order of four
- Shipping Corp of India cancels VLCC order
Shipping Corporation of India (SCI), India's biggest shipping line, has axed one of its two 317,000dwt very large crude carriers (VLCC) ordered at China's Jiangsu Rongsheng Heavy Industries Co Ltd after the yard slipped on delivery date of 17 July. A spokesman for the Mumbai-based company, owned by
- Pan Ocean to sell Heungkuk Mutual Saving Bank stake
South Korean bulker operator Pan Ocean has finally found a buyer for its stake in Heungkuk Mutual Saving Bank. The stake will be sold to Investor United for KRW2.2Bn ($2.12M). Pan Ocean, which went into receivership in June 2013 after incurring more than $5Bn in debt, has been looking for ways to
- Emission control area proposed for Shanghai port
Shanghai's municipal authorities are studying the establishment of an emission control area (ECA) for sulphur in the Shanghai port, a draft amendment to the local regulations on vessel pollution shows. The city, home to the world's busiest port by throughput, is organising and conducting the study
- KKB Engineering forays into offshore business
Malaysia-listed steel fabricator KKB Engineering has diversified into offshore structure business with the securing of a maiden contract by its 43%-owned associate, OceanMight. OceanMight had been awarded the MYR14.5M ($4.5M) contract by 2H Offshore Engineering for the provision of fabrication,
- More offshore vessel orders than commercial ships in 2015
South Korea's 'big three' shipbuilders could see a rebound in offshore vessel orders in 2015, said Samsung Securities in a research note. Samsung Securities' analyst Youngsoo Han said: "Offshore [vessels] are expected to outshine commercial vessels next year due to three positives. First, offshore
- Nam Cheong engages WFWAP for Latin American business
Singapore-listed offshore services provider Nam Cheong has engaged international law firm, Watson, Farley & Williams Asia Practice (WFWAP) to lead counsel for the leasing and sale of an offshore support vessel in Latin America. The OSV leasing is by way of a Mexican financial leasing structure and
- HHIC, GTT and DNV GL to co-study LNG boxship
South Korean shipbuilder Hanjin Heavy Industries & Construction (HHIC), French LNG tank specialist Gaztransport & Technigas (GTT) and classification society DNV GL will undertake a joint research project into LNG-powered ultra-large container ships. The three parties will collaborate to develop a
- Freeport terminal to link to Manila port
Subic Bay Freeport's New Container Terminal-2 (NCT-2) will formally become an extension of Manila port from today, Subic Bay Metropolitan Authority said. This is part of ongoing attempts to solve the problem of port congestion in Manila. NCT-2 will be known as "Subic Bay Freeport-Manila Port
- Southeast Asia piracy improves
Singapore-based maritime piracy watchdog Regional Co-operation Agreement on Combating Piracy and Armed Robbery against Ships in Asia (ReCAAP) reported an improvement in piracy incidents in August. Incidents in August totalled 11 cases, compared to 12 incidents reported in August last year. Of these
- Falling Capesize rates defy active market
Despite a busy week for iron ore shipments from Western Australia to the East Asia, Capesize rates continue to soften for another week. The Western Australia-China rate was yesterday assessed by the Baltic Exchange at $8.755/tonne, up from $8.459/tonne last week but down about 21 cents from
- ABPmer identifies dredging solutions for Scotland's Grangemouth
UK marine environmental consultancy ABPmer has identified cost-effective dredging solutions for Forth Ports' port of Grangemouth, Scotland's largest container port, which has experienced increased siltation around its entrance in recent years. Grangemouth handles about 150,000 containers annually
- Wärtsilä clinches biggest ever BWMS order
Singapore-based Pioneer Marine has ordered 44 Wärtsilä ballast water management systems (BWMS) for 22 newbuild bulk carriers - "the biggest ever single owner order to date for any BWMS manufacturer," Wärtsilä states. Each of the 38,000dwt vessels, being built by Yangzhou Guoyu Shipbuilding in China,
- P&O Maritime takes over offshore operator
Dubai-based maritime service provider P&O Maritime has taken a majority stake in leading Spanish offshore support vessel provider Remolcadores de Puerto y Altura (Repasa). A subsidiary of the DP World terminal operating group, P&O Maritime said that, following the takeover, it would be turning the
- TSC exercises optional order for jack-up rig
Hong Kong-listed TSC Group, an offshore solutions provider of drilling packages, has exercised an optional order for a Zentech R-550D jack-up drilling rig at CSSC Huangpu Wenchong Shipbuilding. On 5 September, Alliance Offshore Drilling, a wholly owned subsidiary of TSC, placed order for a second
- Congestion, new plants boost chemical freight rates
Growing vessel queues in Jubail and Kandla ports of Saudi Arabia and India, respectively, as well as new plants beginning operations have caused chemical freight rates to surge. Brokers told IHS Maritime that freight rates have gained $1-2/tonne over the past week as congestion in Jubail has seen
- Kaixuan 1 oil rig starts drilling in East China Sea
China's jack-up rig Kaixuan 1 has started its oil exploration in the East China Sea since the beginning of September. The 15,000dwt rig, operated by China Oilfield Service, was built by the COSCO Nantong Shipyard in 2014, according to data from IHS Sea-web.com. IHS AISLIVE shows that the rig is now
|SEPTEMBER 12, 2014|
- U.S. container exports sink as worsening trade imbalance looms
Global demand has not strengthened enough for U.S. containerized exports to grow on a consistent and substantial basis and a larger trade imbalance could be on the horizon. A significantly larger trade imbalance could complicate inbound and outbound freight flows and the movement of chassis and containers between U.S. ports and...
- Looking for capacity in the wrong places
When you lose your keys, do you find yourself looking in the same two or three places over and over? Doing this, we never find them. Today, most shippers looking for lost trucking capacity keep going back to the same old places, not finding what they're looking for. Frustrating, sure,...
- Chassis shortage could lead to gridlock at LA-LB, terminals warn
When APL earlier this week informed customers that the APL Norway was being diverted from Los Angeles "due to congestion at Global Gateway South," it caused shippers that use the Los Angeles-Long Beach gateway to cringe. Would other terminals at the nation's largest port complex plunge into another round of...
- NY-NJ port's summer was 'much better'
Congestion and labor shortages remain issues at New York-New Jersey container terminals, but the East Coast's busiest port made through the summer without the widespread gridlock of the previous summer or last winter. "It wasn't an accident that we had a much better summer," said John Nardi, president of the New...
- House bill would test 100 percent container scanning at two US ports
Legislation introduced Thursday in Congress would use federal funding to test whether 100 percent container scanning is feasible at two U.S. ports. The Scan Containers Absolutely Now Act, or SCAN Act, introduced on the 13th anniversary of the 9/11 attacks, is an effort to show that "the technology exists today to...
- Yang Ming extends charter terms for five 14,000-TEU ships
Taiwanese ocean carrier Yang Ming Line has confirmed that the fixed-rate time charter terms for five 14,000-TEU container ships, currently being built by CSBC Corp., will be extended to 10 years, with one two-year option, according to Seaspan. Two of these vessels previously had been allocated to Seaspan, and three had...
- Port of Seattle CEO takes reins amid dropping volumes and market share
The new CEO at the Port of Seattle takes over at a time when the port is losing volume and market share to competitors to its north and south. The Port of Seattle's import volume plummeted 43 percent from 49,201 TEUs in August 2013 to 27,876 TEUs in August 2014. Full-size chart Ted...
- With $700 million to spend, what will XPO Logistics buy next?
Transportation analysts hailed the $700 million investment XPO Logistics won from three global funds yesterday. The question, they said, is what XPO will buy with that money. The third-party logistics operator has acquired 13 companies over the past three years, and plans to buy several more to get its revenue run...
- ILA, NY-NJ employers to appeal waterfront case
New York-New Jersey port employers and the International Longshoremen's Association said they will appeal a federal judge's dismissal of their lawsuit challenging new hiring rules set by the Waterfront Commission of New York Harbor. The ILA, the New York Shipping Association and the Metropolitan Marine Maintenance Contractors Association renewed their complaints...
- SCFI: Spot rates drop across the board despite GRI effort
Full-size-chartAll major trade lanes saw a dip in spot rates for the week ahead, according to the latest reading of the Shanghai Containerized Freight Index, as carriers' September's general rate pushes failed to hold. SCFI spot rates from Asia to northern Europe dropped by 6.6 percent this week, down $74 to...
- More carriers add congestion surchages to Port of Sohar, Oman
More container lines have announced congestion surcharges for shipments moving to Sohar, Oman, to compensate for the extra costs caused by berthing delays and cargo processing bottlenecks. Hapag-Lloyd in a trade notice said it will charge $100 per 20-foot container for dry cargo and $200 per 20-foot container for reefer shipments,...
|SEPTEMBER 12, 2014|
- NYSE warns Cal Dive
Offshore vessel owner Cal Dive International has received a warning from the New York Stock Exchange (NYSE) that it is out of compliance with listing rules.
- New CEO joins board
Capital Product Partners' new chief executive officer has now taken a seat on the company's board.
- Legatum in Golar slice
Legatum has unveiled a sizeable minority stake in Golar LNG after tycoon John Fredriksen sold off most of his shares in the company.
- Sanctions hit Russian energy
The European Union and United States slapped sanctions on several Russian energy companies, some of which are significant charterers.
- Bourbon extends deal
Oceaneering International has exercised both one year options on one multi-functional unit owned by France's Bourbon Offshore.
- Nissen notches two
Japan's Nissen Kaiun has been linked to another bulker order at Shikoku Dock.
- Bull by the horns
We take a look at what was said in the market over the past week.
- Giant ships, small impact
A major VLOC pact between former rivals Cosco and Vale is not the end of the world for a capesize market recovery, Arrow says.
- New VLEC deal signed
A grouping of companies has signed a fresh letter of intent for a series of five very large ethane carriers (VLECs) worth around $600m.
- Bulker breaks loose
A loaded bulker drifted into the shipping channel at Gladstone in Australia after its mooring lines parted.
- Seaspan stretches charters
Seaspan Corporation has rejigged contracts with Yang Ming of Taiwan to charter out 10 eco-boxship newbuildings for 10 years.
- Hoegh director resigns
Jon Erik Reinhardsen has resigned from his position as a director of Hoegh LNG after eight years.
- Cosco to order 10 VLOCs for Vale
Mining giant Vale has revealed a pact with China's Cosco to build 10 huge new bulkers, signalling a potential shift on China's Valemax ban.
- DP World buys Repasa
DP World subsidiary P&O Maritime has snapped up the anchor-handling tug (AHT) fleet of Spain's Repasa.
- Pan Ocean takes bank hit
Diversified shipowner Pan Ocean has finally found a buyer for its stake in Heungkuk Mutual Saving Bank at a knock-down price.
- MAIB warns over charts
Another grounding in UK waters related to poor navigation has prompted a warning from accident investigators over the use of electronic systems.
- Check your specs
Reed Smith lawyer Mark O'Neil has warned owners of the costly legal consequences of getting ship specifications wrong in charter talks.
- Inui adds one
MOL-linked Inui Steamship has reportedly ordered a 60,000-dwt bulker at Japan's Onomichi Dockyard.
- Ningbo Marine eyes three
Shanghai-listed Ningbo Marine is lining up a bulker fleet renewal deal worth $83m.
- Xiamen wins PCTC duo
Shanghai owner Zhongfu Shipping has contracted two pure car truck carriers (PCTCs) in China.
- IEA trims crude estimates
The International Energy Agency (IEA) has trimmed its forecast for the rise in oil demand this year for the third month in a row.
- TOO investor builds stake
Neuberger Berman Group has increased its stake in Teekay Corp offshore spin-off Teekay offshore Partners.
|SEPTEMBER 12, 2014|
- EU rules on merger of Hapag-Lloyd, CSAV container businesses
The transaction will make Hapag-Lloyd the fourth largest container shipping company in the world, with some 200 vessels, an annual transport volume of 7.5 million TEUs, and a combined turnover of about 9 billion euros ($11.6 billion).
- ILA, employers appealing decision in favor of NY Waterfront Commission
- Commerce hits more Russian companies with trade restrictions
- XPO snags $700 million in financing for acquisitions
- Portsmouth terminal reopens in Port of Virginia
- Airports see cargo bump in July
- U-Freight expands in Hong Kong
- U.S. Customs fills key HQ positions
- G6 carriers void two Asia-U.S. West Coast sailings
- Digital trade linked to 3-4% boost in U.S. GDP
- NIT League supports Surface Transportation Board reform
- Weekly GRI roundup
|SEPTEMBER 12, 2014|
- Weekly Global Market Report
A weekly price roundup from bunkering hubs around the world.
- Shell aims to make LNG 'more competitive'
Financially 'unable to compete with traditional fuel oil'.
- Prices display mixed trends in Europe
'Average demand' in Gibraltar.
- Prices close week soft in Fujairah
Prices soft in Cape Town.
- DNV GL to class ethane carriers
Class society and others agree on $600 million carrier order.
- Tanker operator remains focused on bunker savings
'Cost of bunkers accounts for more than 60% of freight costs,' says Stena Bulk as it recommits to slow steaming.
- Industry frustrated by lack of clarity on ECA enforcement
Maersk, ICS complain they've had little feedback from port state authorities about how they will approach implementation.
- Fossil-free ship aims for renewables cargo market
Working demonstrator of ship type to be delivered for 'global end user'.
- ARA fuel stocks tumble
EU sanctions come into force but players report 'good resupply' from Russia.
- Asian IFO rates end week with little changes
Offices in Tokyo Bay to close for a holiday on Monday.
- Maersk Line in talks to keep alliance on track
'There are worries that the scheduled launch early next year may be delayed.'
- 'Eco' cruise liner idea floated
Shipping name to head project's supervisory board.
- Engineering firm receives patent for dual fuel ship
Vessel is under construction at a US shipyard.
- DNV GL explores unmanned battery-powered shipping concept
Senior Researcher optimistic on concept's feasibility.
- Chevron presents new marine lubricants
These 'next generation' lubes are designed for vessels operating within ECAs, says spokesman.
- Bulk carrier detained in Singapore
Vessel faces second arrest in eight months.
- Oil major targeting tri-fuelled LNG newbuilds
Vessels scheduled for delivery from 2018 onwards.
- Montreal bunker prices slip
Fairly slow demand reported at the Canadian port.