|JULY 18, 2014|
- Transpacific Stabilisation Agreement August 1 hike US$600/FEU
- LA up 14pc in June to 736,438 TEU - LB up 8pc to 610,516 TEU
- Liners hail EU's 5-year exemption for vessel sharing agreements
- China's quarterly GDP increases 7.5pc, but still relies on stimulus
- Singapore GDP slows in second quarter to 2pc, half as fast as before
- Indian court quashes objections to PSA International Mumbai terminal
- China tells US to stay out of South China Seas maritime disputes
- Three state-owned Philippine ports in Mindanao to be privatised
- Maersk's 18,270-TEU ship replaces 8,400 TEUer on Asia-Europe run
- MSC takes in new 15,908-TEU ship, crowning its fleet of 26 mega ships
- Evergreen launches 7th of ten 13,808-TEUers for CKYHE Asia-Europe
- Seaspan acquires 10,000 TEU ship for MOL Asia-Europe G6 service
- PIL halts China Transpacific Australasia service, takes slots instead
- Dimerco launches Cambodia joint venture with Straits International
- Union Pacific invests US$6 million in Milwaukee-Wisconsin rail line
- Schiphol tonnage grows 8.8pc in first half to 801,700 tonnes
- Angry Baghdad blocks freighter flights into disloyal Iraqi Kurdistan
- Yusen Logistics offers temp-control warehouse near airport in Suzhou
|JULY 17, 2014|
- CMA CGM may look for own vessel sharing agreement, says Drewry
- Lines continue to acquire mega box vessels
- UTi Worldwide India a Great Place to Work
- ZIM embarks on a new path following agreement with state of Israel
- Eicher trucks to be exported soon
- Dredging gets underway for Liverpool2 deepwater box terminal
- Centre likely to ban onion export for now
- Exports grow at double-digit rate for second straight month in June
- Fieo attributes surge to improved global economy
- Govt to take up road projects worth INR 1,80,000 cr.: Gadkari
|JULY 17, 2014|
- Ingalls awarded $23.49 million LHA 8 affordability contract
- Kvichak delivers Alaska crab and salmon tender
- BC Ferries to convert Spirit class duo to LNG
- Maersk: Fuel to cost $250 million more to comply with ECA
- $58 million boost for Eastern Canada ferries
- Aker Philly announces share buy back
- Vigor to drydock Navy sub tender
|JULY 17, 2014|
- Quinault Tribal Enterprises buys RPMM Westport Marina site
- Corps sets comment period for Shell Anacortes rail spur
- Change of command ceremony for Coast Guard Cutter MIDGETT
- TSA member carriers plan general rate increase for August
- Wallenius Wilhelmsen Logistics named BMW processor for Baltimore
|JULY 17, 2014|
- UASC takes centre stage in box alliance shake-up
Currently ranked at number 17 in terms of fleet capacity, the carrier's orderbook will propel it into the top 10
- Medway wins new car volumes
New vehicle inspection centre wins Kent port 50,000 vehicle imports per year
- BF Tanker to build fleet of 20 unique multifunctional product tankers
Russia's shipbuilding climate really positive for this type of construction, says fledgling firm's boss
- Container traffic continues to rise at California's premier ports
Long Beach and LA monthly volumes up 8% and 13.9% respectively
- Inactive fleet creeps up
This week 1.4% of the overall live fleet is inactive
- Crimea voyage orders could be unlawful, Steamship warns
EU now bans import of goods originating from peninsula
- Boskalis-led consortium lands $768m Singapore contract
Reclamation project key to city state's plans for 65m teu megahub at Tuas
- Costa Victoria under brief arrest in Taiwan
Cruise line in dispute with former passenger over medical bills and compensation
- US imports soar as retailers fear west coast shutdown
Threat of breakdown in labour talks starts a race to stock up
- Zim completes restructuring
Israel Corp's equity boosts signals end to year and a half of intensive negotiations
- Milaha secures two-year charter to carry ammonia
Cargoes will be exported around the world from Qatar on LPG carrier
- Sinotrans Ltd plans to raise $219m via new share issues
Logistics arm of Sinotrans & CSC to build working capital amid group-wide restructuring
- Two German owners get suspended sentences for breach of fiduciary duty
Former Harms Bergung owners Albrecht and Mayer pledge to take case to appeal
- DryShips bridge loan allows breathing room
Investors remain confident, but are still awaiting long-term solution
- Orix buys majority stake in Hyundai Logistics
Deal will help Hyundai Group raise cash for strapped HMM
|JULY 17, 2014|
- Passengers injured in Thames river boat accident
Several hundred passenger have been evacuated from a river cruise boat after it was involved in a collision with a commercial vessel on the river Thames today (17 July). Six passengers aboard Millenium Time were treated by paramedics, but none had to be hospitalised, City Cruises, which operates the
- SHI secures gas carrier sextet
Samsung Heavy Industries (SHI) has secured an order for six gas carriers from an unknown Asian owner at a cost of KRW740.7Bn ($720.4M). The price of about $120M each is too high for conventional LNG carriers and too low for VLGCs but sources indicate they are likely to be a new series of very large
- Trieste claims Italy's ports crown
The port authority of Trieste has claimed that the port bucked the downward trend of other Italian ports in 2013, registering a total cargo volume of 56M tonnes, an increase of 15% on 2012. "Trieste, unlike other Italian ports, has recorded a notable traffic growth in all cargo sectors: energy,
- Yangfan wins Ningbo Ocean boxship pair
Chinese shipbuilder Yangfan Group has won an order for two containerships from compatriot shipowner Ningbo Ocean Shipping. The two 1,100teu vessels are scheduled for delivery in March and April 2016. This latest order follows the owner's order for three 2,400teu vessels placed in May 2014 at Bohai
- Boskalis and Van Oord win €100M Singapore contract
In a consortium that also includes Hyundai, Samsung, and Penta Ocean, Dutch dredging contractors Boskalis and Van Oord have been awarded a reclamation contract by Jurong Town Corp for Tuas Finger One, part of Singapore's Tuas mega port project. "We have a 15% share of the project," a Boskalis
- France demands guarantees regarding Costa Concordia towage
French environment minister Ségolène Royal has said she wants to see proof that the Costa Concordia poses no pollution threat to the island of Corsica before the towing of the wrecked vessel to the port of Genoa begins next week. Royal, who met her Italian counterpart Gian Luca Galletti in Milan
- Pan Ocean reveals debt-equity swaps
Pan Ocean is executing another round of debt-for-equity swaps with creditors. The South Korean bulker operator disclosed its paid-in capital plan yesterday in a Korea Exchange filing. The company will issue 14.1M new shares and these are scheduled to be listed on 30 July. This round of
- Yinson delays sale and purchase agreement announcement
Malaysia-listed floating production unit player Yinson has postponed its announcement of a sale and purchase agreement. Previously, Yinson had received an offer from BW Offshore to either sell down or increase its stake in the Petroleo Nautipa floating production, storage, and offloading facility
- LA-LB box imports rise 13% in June
Cargo volume at America's largest container port complex rose in June as the after-effects of a potential labour disruption contribute to a surge in box business. Combined imports surged 13% to 698,720teu for the month compared with the same period a year ago, led by a 16.6% increase - to 382,666teu
- Rio Tinto iron ore shipment up
Rio Tinto posted a 20% spike in iron ore production in 1H14, the miner announced yesterday. Shipments out of Pilbara exceeded production, drawing on stockpiles, to post a record for the first six months of the year. A port infrastructure remains on track for completion by June 2015, the miner said,
- FMG eyes four more VLOCs
Australian iron ore miner Fortescue Metals Group is in talks with a Chinese shipbuilder to construct four more very large ore carriers. These four vessels are in addition to its FMG's order of four VLOCs for $275M at Yangzijiang Shipbuilding's Jiangsu New Yangzi yard last month. This second batch of
- Boskalis consortium bags Singapore port job
A Royal Boskalis Westminster-led consortium has been awarded the contract to expand Singapore's mega port in Tuas. Singapore-based developer Jurong Town awarded the reclamation project of Tuas Finger One to the consortium comprising Hyundai, Samsung, Penta Ocean, Boskalis and Van Oord. The total
- Bohai Leasing to become world's largest container lessor
Bohai Leasing, a subsidiary of HNA Capital, has signed a letter of intent to acquire 80% stake in container leasing company Cronos in cash, a deal that would make Bohai Leasing the world's largest container lessor. The deal is non-binding and subject to change, a stock filing of Bohai Leasing said.
- Constraints seen in floating-system building
As floating production systems become more sophisticated, shipbuilders should think out of the box to deliver the floaters on-time and without cost overruns, said a consultant today. There are currently 65 production floaters, eight FSOs and four MOPUs on order. This is a 5% increase from 2Q14 and
- Tanker attacked in South China Sea
A Malaysia-flagged tanker was hijacked and its cargo siphoned in the South China Sea. Grolite Shipping's MT Oriental Glory was en route to Sandakan in East Malaysia from Singapore when it was hijacked on 15 July. The pirates siphoned around 1,500 tonnes of marine gas oil and stole MYR15,000 ($4,700)
- Japan yard orders up 141.5% in June
Japanese shipyards had a remarkable rebound in orders in June, with contracts rocketing 141.5% year on year. Figures from the Japan Ship Exporters Association showed its members clinched 91 export orders of 3,392,460gt in June, compared to 38 orders of 1,404,820gt in June 2013. This was also up from
- POSH partners with Grupo Pegaso
Singapore-listed PACC Offshore Services Holdings has signed a term sheet with Grupo Pegaso, a Mexican conglomerate, for Grupo Pegaso to acquire interests in POSH's joint ventures in Mexico. "The parties are now working towards signing a definitive agreement" said POSH in its company announcement.
- Singapore accuses Maersk of pushing anti-trust regulations 'to limit'
The Singapore National Shippers Council said today Maersk Line is testing the limits of anti-trust regulations. The Council said this in a follow-up statement about Maersk's proposal of the 2M vessel-sharing arrangement with Mediterranean Shipping Company (MSC). Following China Ministry of
|JULY 17, 2014|
- Evergreen shares slots on Simatech ships in new Mideast service
Evergreen Line has introduced a container service between the India subcontinent and the Middle East by acquiring slots on a weekly service operated by Simatech Shipping, the Dubai-based intra-Asia feeder line. The port rotation of the regional loop, marketed by Simatech as the CCG Service, is Jebel Ali, United Arab Emirates;...
- Zim completes debt restructuring deal
Zim Integrated Shipping Services said it finalized its debt restructuring deal after its parent Israel Corp. invested $200 million of new equity into the ocean carrier. The agreement, struck after 18 months of negotiations with creditors, including banks, shipowners, shareholders, bond holders and the Israeli government, paves the way "for a...
- CP 'winning' domestic intermodal push
Canadian Pacific Railway said it will likely increase domestic intermodal volume on a double-digit basis over the next couple years after seeing 53-foot container volume rocket 18 percent year-over-year in the second quarter. CP CEO and Director E. Hunter Harrison is targeting domestic intermodal growth as one of the railroad's top...
- WCI: Eastbound trans-Atlantic rates hit record low
The spot rate from Shanghai to Rotterdam fell 5.5 percent week-over-week to $2,630 in the week ending July 17. Full-size chart Spot rates from Shanghai to Rotterdam, the Netherlands, eroded this week, losing 35 percent of the gains it garnered in the last two weeks, and trans-Atlantic rates saw no gains. The spot...
- Matson carves niche in trans-Pacific expedited market
As niche markets go, Matson seems to have several cornered. It's a majority ocean carrier in the Hawaiian market, for example, and the company's expedited service allows it to stand out from most larger, international carriers. It's that venture that Matson CFO Joel Wine says is shoring up profits for...
- Breaking Bad
For months, we've been asking how North American infrastructure at ports, rail heads and on the roads would hold up when imports grew at sustained levels beyond the low-single-digit levels seen through the first quarter of this year. Well, the returns are starting to come in, and the news is anything...
- Arbitrators to hear Panama Canal cost overrun dispute
An arbitration hearing is set to begin July 21 in Miami on a contractor's claim for $180 million in cost overruns for expansion of the Panama Canal. The claim is one of several totaling $1.6 billion that may go to arbitration if the Panama Canal Authority and an engineering and construction...
- New intermodal facility opens at Port Everglades
Port Everglades' new intermodal transfer facility.Port Everglades' new intermodal transfer facility is up and running, and officials are hoping it will keep the Florida port competitive with other destinations in the Southeast. Florida East Coast Railways' Intermodal Container Transfer Facility opened yesterday with a ribbon-cutting ceremony and tours for the public. The...
- ILWU talks skewing second-quarter import volumes
The impact of importers' contingency plans to avoid any labor disruptions on the West Coast during the peak shipping season are showing up in second-quarter import volumes. Retail shippers funneled more Asian imports through East Coast ports and moved shipments into the pre-peak months to build inventories in the event of...
|JULY 17, 2014|
- Del Monte reefer detained
The crew of a reefer controlled by an affiliate of US food giant Del Monte Fresh Produce has been accused of violating regulations that prohibit the disposal of various pollutants at sea.
- NewLead lands on firing line
Wall Street is rife with rumours that diversified Greek operator NewLead Holdings may be on the fringe of losing its Times Square listing.
- EOC orders in China
EOC Limited has inked a contract to construct a pair of offshore accommodation and maintenance vessels.
- GMLP lifts dividend
John Fredriksen's Golar LNG Partners has lifted its dividend for the second quarter.
- TAS lifts earnings
Malaysia's TAS Offshore has posted a much stronger annual profit as revenue soared.
- Bareboat bliss
StealthGas of Greece has fixed out three LPG newbuildings for seven-years amid positive market signs.
- StealthGas orders again
Greece's StealthGas has added up to six more LPG carriers to its orderbook, while tearing up deals for two Korean newbuildings.
- Cargill in Diana deal
Diana Shipping has secured period employment for one of its panamaxes at more than double the present spot market level.
- Och sells Genco stock
US investor Daniel S Och has cashed in the majority of his shares in Genco Shipping & Trading soon after its exit from Chapter 11.
- Milaha fixes LPG ship
Qatar producer Muntajat has signed up a domestic LPG carrier for export work.
- Aker Philly springs buyback
Kristian Rokke's Aker Philadelphia Shipyard is the latest quoted shipping company to roll out plans for a share buyback programme.
- WWL tries Tyne
Ro-ro group Wallenius Wilhelmsen Logistics (WWL) had added the UK's Port of Tyne to its Asia to Europe calls.
- OSG falls further
Restructuring US tanker owner OSG has revealed a bigger loss in May, as its total deficit since filing for bankruptcy in November 2012 reached $969m.
- Crew unprepared
A UK ro-ro crew was ill-prepared to deal with a fire started by a colleague's cigarette, an accident investigation has revealed.
- Nordea nets more
Nordea Bank's shipping division has posted improved first half numbers despite a slight depression in lending during the second quarter.
- Ro-pax forced ashore
A Philippines inter-island ferry ran aground in typhoon Glenda on Wednesday.
- Iino bulker grounds
A Japanese bulker developed a list and took on water after grounding off Canada.
- Bonheur brought lower
Fred Olsen holding company Bonheur has posted lower earnings in the first half, as offshore drilling and cruiseship profit fell.
- Samsung's gas puzzler
Samsung Heavy Industries has secured a substantial order for "gas carriers" which has puzzled shipbuilding experts.
- Cash keeps coming
Canada is pumping another CAD 58m ($54m) into eastern ferry services.
- TSA tries again
The Transpacific Stabilisation Agreement (TSA) group of container lines is trying for another big rise in rates from Asia to the US.
- Ningbo Ocean orders duo
China's Ningbo Ocean Shipping Co has continued its fleet expansion with another containership order in China.
- Boskalis win Tuas gig
A Royal Boskalis Westminster-led consortium been awarded work on the expansion of the Singapore Tuas Mega Port development.
- KLC seals nickel deal
Korea Line Corp (KLC) has secured a long-term contact to ship nickel ore from New Caledonia to South Korea in a deal worth KRW 307bn ($300m).
- A&P scoops ro-ro trio
A&P Group has secured a three ship repair and maintenance contract from ro-ro operator Euroship Services Limited.
|JULY 17, 2014|
- Analyst believes Panama Canal completion may be delayed
"Labor relations remain strained to date," the analyst said. "Such frequent, low-level disputes will negatively affect the effectiveness of conflict-resolution mechanisms relating to the canal."
- ICAO: Air cargo to grow 3.7% in 2014
- Zim completes debt restructuring
Zim said the restructuring "provides the company with a stable, long-term capital structure. The company will now focus on the implementation of its business plan, with a view to achieving profitability in the near future."
- Long Beach container traffic up 8% in June
- DHL unveils new cryogenic shipping option
- Cathay adds Calgary freighter service
- Neglect of U.S. border infrastructure continues, hearing reveals
Most of the 167 checkpoints on the northern and southern border are outdated and not configured to meet Customs and Border Protection's post-9/11 security missions.
- French regulator investigating FedEx, TNT and Royal Mail
- U.S. adds trade sanctions against Russia
The Obama administration said Russia continues to provide Ukrainian separatists heavy weapons, equipment, and other financing, and continues to allow militants to enter Ukraine freely.
- Commerce investigates certain Chinese tire imports
- CarrierDirect: Pricing power shifting to domestic carriers
|JULY 17, 2014|
- Prices lose direction in Fujairah
Tight avails reported in Gulf bunkering hub.
- Prices keep falling in northwest Europe
Weak demand reported in Rotterdam.
- Cockett opens office in Greece
Move part of growth strategy, says company.
- Hambantota bunkering passes $5 million mark
Several ships have bunkered at port since opening of new facility.
- Asian IFO market broadly stable
Meanwhile, MGO prices were lacking a clear direction.
- Canadian ferries to switch to gas
Conversion work is out to tender.
- Estonian bunker player makes year loss
Revenues down 10% over the year.
- Brightoil seeking more upstream buys
Acquisition of Anadarko's oilfields to complete in next three weeks.
- Oil trader eyes Egyptian bunkering market
Joint-venture company mooted.