|AUGUST 20, 2014|
- SIPG to sell 20pc of Mingdong joint venture terminal with Hutchison
- Asia-Europe spot rates plunge 10.7pc to US$1,198/TEU for a second week
- California protesters hit Zim Line in Oakland for Israel's Gaza invasion
- Wan Hai profit up 157pc to US$36.1 million as revenue rises 12.8pc
- Yang Ming back in black with US$7.9 million profit in second quarter
- China extends Shanghai-boosting export tax rebates to many new cities
- No mass exodus of containers from US west coast to eastern ports: Drewry
- Canadian Solar back in black after US duty payout eliminated profits
- EU subsidise fruit and veg sector suffering from Russian food import ban
- Russian veterinary authorities now allow pork imports from China
- Airport data shows world cargo up 3.7pc - Hong Kong leads, up 6.3pc
- Discreet Phoenix Air Group's special Gulfstream flies in Ebola victims
- Air Charter Service names Jamie Harris vice president in New York
|AUGUST 19, 2014|
- Gadkari to visit TN, discuss Sethusamudram project
- Car exports dip 5 pc in April-July
- Adani to expand Dhamra port capacity to 100 mtpa
- Kandla Port retains top position in 2013-14, achieves more landmarks & plans ahead with new projects
- Several road projects stuck due to land acquisition, other issues
- ...acquires Lanco Infratech's Udupi power plant for INR 6,000 cr.
- Adani Group promoters to sell Abbot Point coal terminal in Oz
- Exports to surpass target of $ 350 bn this fiscal: Fieo
- Govt plans to revive SEZs
- Govt to take several steps to boost MSME sector
|AUGUST 20, 2014|
- Maersk expecting growing demand till the end of 2014
- Transnet secures diesel locomotive funding
- Shipowners' Club change of power
- Danone Poland retains current logistics partner
- Australia: Cowra lines' reopening goes ahead
- A top award for Monte Belger
- MOL invests in generation to come
- Accomplished new executive director for port of Pittsburgh
- Waberer's to establish companies in UK, Netherlands and...
- New role for CSX Transportation's Ed Jenkins
- Globe Tracker and RTI join forces
- ACI Asia-Pacific sees traffic increase in H1/2014
- New port alliance targets growth in Manawatu-Whanganui...
- Freight train accident shuts down Arkansas highway
- Jacking up turnover and profit
- France's Airnautic brings new charter sales manager on board
- New Basel to Dubai freight flight
- Port of Stockton wants partners for M-580 marine highway
- Ein schlafender Riese
|AUGUST 19, 2014|
- Iron Man technology comes to shipbuilding
- Oil spill closes 15 mile stretch of Ohio River
- Rolls-Royce inks agreement with Polish ship repairer
- U.S. ship destroys Syrian chemical weapons
- Swiber puts five vessels under Mexican flag
- Rajang Maju delivers six tugs to Coastal Contracts
|AUGUST 19, 2014|
- Transpacific Stabilization Agreement carriers eye across-the-board general rate increase
- Port of Olympia gives update on stormwater system project
- Federal Maritime Commission plans US port congestion cause forum
- Port of Bellingham adding tenant to Squalicum Harbor's Marina Square
- Mitsui builds first vessel using highly ductile steel plate
|AUGUST 19, 2014|
- Star Bulk grows to mighty oak among US-listed owners
With acquisition of Excel fleet, Greece-based owner may offer enhanced market play
- Container industry faces several more years of oversupply, warns Maersk's Andersen
Danish line unlikely to order more tonnage before 2017 and rules out acquisitions despite strong profits
- Star Bulk takes over Excel fleet
Deal funded through Oaktree and Angelo Gordon loan
- Hanjin Shipping achieves nearly 80% of restructuring target
But repayment pressure is still high for loss-making carrier
- Navios Acquisition posts loss for second quarter
Owner hails 32% leap in revenues as fleet expands
- UPDATE: Maersk says 2M will not require approval in China or Europe
Simpler vessel sharing agreement only needs US clearance, Nils Andersen confirms as line posts better-than-expected profits
- Owners face tougher insurance stipulations for Arctic routes
Lack of data complicates risk pricing, Marsh warns
- APM Terminals sees double-digit profit growth
New Maasvlakte terminal not expected to impact accounts
- SCI denies planning to exit box business as profits slip
India's largest shipping company says it would only consider quitting certain services
- Boxship numbers shrink
Tally of vessels afloat could fall for first time in 20 years as average size of newbuilds rises
- StealthGas warns on second-quarter profit
Analyst sees move to bigger LPG carriers as 'positive development'
- TSA plans $600 hike from September
Transpacific lines to push rates up again claiming that lines are struggling to return profits
- Cosco International upbeat after strong first-half results
Shipping services arm of Cosco Group supported by increased commission income
- Bergen Group offloads shipbuilding division
Noryards joint venture sold to Ukrainian business partner Calexco
- Terminal and liner divisions drive up Maersk profits
Boxline efficiency drive helps overcome freight rate challenges
|AUGUST 19, 2014|
- Maersk Line cautiously optimistic
Maersk Line has forecast that container volumes will continue to grow, but that it is unlikely to need new capacity until at least 2017. It has also warned that the industry cannot sustain any fall in freight rates. The company has so far taken delivery of 10 of the 18,400teu Triple-E ships it has
- Bergen Group exists shipbuilding
Bergen Group, the listed Norwegian offshore and maritime services group, has exited shipbuilding by selling its 30% share in NorYards for $4M. The buyer is the Ukrainian Zaliv group, to whom Bergen sold controlling interest in its former shipbuilding division in two tranches. In July 2013, Bergen
- India moves to enact new admirality law
India has started work on enacting a new admiralty law called the Admiralty (Jurisdiction and Settlement of Maritime Claims). This seeks to consolidate and amend the laws relating to the Admiralty Jurisdiction of Courts, legal proceedings in connection with vessels, their arrest, detention and sale.
- DSME secures BoCom boxship pair
Daewoo Shipbuilding & Marine Engineering (DSME) has secured an order for two more very large containerships from China's Bank of Communications Financial Leasing Co (BoCom). The two 19,000teu vessels are scheduled for delivery in 2016 and bring BoCom's total on order at the yard to five. The
- Star Bulk emerges as sector giant
NASDAQ-listed Star Bulk has announced the acquisition of 34 bulkers from Excel Maritime, making it by far the largest US-listed dry bulk company. The vessels - six Capes, 14 Kamsarmaxes, 12 Panamaxes and two Handymaxes - will be paid for with 29.917M Star Bulk shares and $288.39M in cash - equating
- Jiangsu Hongqiang wins Navibulgar bulker sextet
Chinese shipbuilder Jiangsu Hongqiang Marine Heavy Industry has won an order for up to six eco-friendly handysize bulkers from Bulgarian owner Navigation Maritime Bulgare (Navibulgar). The four firm 42,300dwt vessels will have an overall length of 185m, beam of 31m and will be Finnish designed by
- North P&I Club issues Ebola information sheet
The north of England P&I Association has published an information sheet to help its members cope with the Ebola virus outbreak in west Africa. The quick reference factsheet (Ebola Virus Disease Information Sheet) includes a summary of the advice from the World Health Organisation (WHO) and other
- Honghua wins orders for ten vessels
Chinese shipbuilder Honghua Offshore Oil & Gas Equipment has won an order for up to four semi-submersible drilling rigs from Orion Engineering and an order for six oil tankers from Korean company UDIN Engineering. Orion has ordered one European designed rig at a cost of about $320M and has options
- Australia politician rails against China in port dispute
The Australian government today distanced itself from comments made by mining magnate and politician Clive Palmer alleging unfair dealings on the part of Chinese state-owned company CITIC Pacific. Palmer has been embroiled in legal battles with CITIC over mining royalties and port control in the
- Dae Sun secures two pairs of boxships
Dae Sun Shipbuilding & Engineering has secured an order from an unknown Hong Kong based owner for two containerships and a second order for two from compatriot owner Nam Sung Shipping. All four will be 1,000teu eco-friendly vessels with optimised fuel consumption. An exact delivery schedule has not
- Ningbo's shipping fund ambition frustrated
Ningbo Ocean Industry Fund Management, a government-backed shipping fund manager, has been unable to achieve its multibillion yuan fund-raising ambition due to the persistent shipping recession. The Ningbo-based company, with a registered capital of CNY60M ($10M) and set up in November 2011,
- Marco Polo Marine shares trade at discount
Singapore-listed marine logistics company, Marco Polo Marine (MPM)'s shares are trading at 30% discount to book, according to Lee Yue Jer, offshore and marine analyst from DMG & Partners. He sets a target price of SGD0.65 ($0.52) per share, while the company's stocks currently traded around SGD0.35
- DSME's slow improvement to continue
Daewoo Shipbuilding & Marine Engineering (DSME) will show weaker-than-expected earnings improvement into 2015, said Daishin Securities' analyst Feynman Jeon in a research note. In 2Q14, South Korea's third-biggest shipbuilder's profits plunged by 85% year on year to KRW7.6Bn ($7.4M). DSME posted
- Maersk Line raises 2014 forecast
Maersk Line the container shipping unit in A.P. Moller-Maersk (APM) group of Copenhagen, has raised its full year profit forecast on strong 1H14. "Maersk Line revises its expected result from being above 2013 ($1.5Bn) to being significantly above the 2013 result following a strong financial
- Icon Offshore, Zell form OSV JV
Malaysia-listed offshore marine service provider Icon Offshore has formed a joint venture with Zell Transportation for the provision of offshore support vessels (OSV) to service contracts and operations in Brunei. The JV was signed by Icon Fleet, a wholly owned subsidiary of Icon Offshore, and will
- KSS Line orders VLGC
South Korean specialised LPG and chemical shipping company KSS Line today said that it has ordered a very large gas carrier. Company officials told IHS Maritime that the 84,000m3 VLGC was ordered at Hyundai Heavy Industries for a price of KRW79,380,600,000 ($77.9M). The ship would be delivered by 30
- Unclear future for HHIC
If South Korean shipbuilder Hanjin Heavy Industries & Construction (HHIC) is unable to overcome its weak operating profits and high interest costs, losses are likely to continue, said Samsung Securities in a research note. The mid-sized shipbuilder's 2Q14 loss grew to KRW88.8Bn ($86M) from a
- COSCO International half-year profit up
Hong Kong-listed COSCO International Holdings, a shipping service unit of Cosco Group, said today that its profits had gained 45% year on year to HKD$190M ($24.5M) in the first half of 2014 due to surge of finance income and ship trading commissions. Revenues also rose 6% y/y to HKD$4.7Bn, a stock
|AUGUST 19, 2014|
- July container volumes up at Tacoma, down at Seattle
Double-digit year-over-year changes for the Puget Sound ports: up for Tacoma, down for Seattle. Full-size chart Two ports on the Puget Sound, separated by less than 40 miles, saw very different results in container volumes in July. The ports of Tacoma and Seattle each reported July volume totals this week, and while Tacoma...
- After tumultuous first half, US truck rates are poised to rise
Supply chain disruptions caused by extreme winter weather set the stage for truck rate hikes that pushed transportation costs higher in the first half of 2014, and on through July. After the strongest first half for truck pricing since the end of the recession, shippers are poised for a costlier peak...
- Anti-Israeli protest morphs into ILWU action at Oakland
The SSA Marine terminal at the Port of Oakland remained closed Tuesday because longshoremen refused to report to their jobs, even though the anti-Israel demonstrators who had blocked entrance to the facility on Sunday were long gone. Meanwhile, three additional vessels have docked at the terminal, so the Zim Integrated Shipping...
- Companies urged to reassess sourcing as manufacturing costs shift
Ten years ago, some might not have believed Brazil could become one of the highest-cost countries for manufacturing, or that Mexico could be cheaper than China. But, according to a new report released today by The Boston Consulting Group, traditional views of where low-cost and high-cost manufacturing regions are located...
- Canadian ports group head stresses need for infrastructure projects
The Association of Canadian Port Authorities is warning Canadian policymakers that inadequate development of port infrastructure could hinder the country from taking full advantage of its growing international trade. Comments in a column written by ACPA President Wendy Zatylny, contributed to The Globe and Mail, touched on the country's recent expansion...
- Port of Virginia reports $17 million loss in fiscal year
The Port of Virginia's operating loss expanded to more than $17 million for the fiscal year that ended June 30. The port noted that although revenue for the 2013-14 fiscal year increased 12.6 percent to $396.8 million, its operating loss grew 9.4 percent to $17.1 million. The port reported a loss...
- 2M needs no approval from China, Maersk says
Maersk Line and Mediterranean Shipping Co. do not require regulatory approval from China for their proposed "2M" vessel sharing agreement on the east-west trades, Maersk Line said today. Taking Stock of "2M" [Infographic]Since the agreement is only a vessel-sharing agreement and not a full-fledged alliance with its own joint vessel...
- Shippers increasingly opening distribution centers near intermodal hubs
Distribution centers and manufacturing plants are increasingly springing up around U.S. intermodal terminals, as shippers aim to reduce drayage costs and overall tightening truck capacity fuels intermodal volume growth. Estimates are now that as much as a third of all new U.S. distribution centers are located near an intermodal rail...
- FMC to hold US East and West Coast port congestion forums
WASHINGTON - The U.S. Federal Maritime Commission is moving forward in a fledgling effort to reduce long truck wait times at some ports in the U.S. by holding a forum in Southern California next month and another in Baltimore in the fall. FMC Chairman Mario Cordero will moderate the Sept. 15...
- JOC Inland Distribution Conference Confirms Key Industry Speakers
NEWARK, N.J., Aug. 18 - An expanded program for JOC Group Inc.'s 2014 JOC Inland Distribution Conference contains more shipper-focused case studies, interactive Q&A sessions with industry leaders and keynotes by influential decision-makers, such as YRC Worldwide CEO James Welch. Speakers will address strategic initiatives and such critical topics as...
- Cargo moves to East Coast, crimping LA-Long Beach volumes
Container volumes in Los Angeles-Long Beach were flat in July as uncertainty about the International Longshore and Warehouse Union contract negotiations resulted in cargo diversion to East Coast ports. The Port of Los Angeles reported a year-over-year increase of 0.25 percent in total containerized imports and exports. Imports declined 1.98 percent,...
- PORT OF LONGVIEW C.E.O. NAMED TO STATE BOARD
Longview, WA- Gov. Jay Inslee appointed Geir-Eilif Kalhagen, Chief Executive Officer of the Port of Longview, to the Washington State Freight Mobility Strategic Investment Board on July 11, 2014. Kalhagen, the Port of Longview's CEO since September 2012, will serve as FMSIB's Port Districts representative until June 30, 2018. He replaces FMSIB...
- Forbes Ranks Agility No. 65 of Top 500 Companies in Arab World
KUWAIT- August 13, 2014 - Agility, a leading global logistics provider, ranks No. 65 on Forbes' recently released 2014 Top 500 Companies in the Arab World and comes in at No. 2 in the magazine's 15-company Transport sector. "The Forbes ranking is further recognition of our achievements in providing an exceptionally high level of service and customer-specific...
- LTL Outlook Brightens
Better operating margins are finally on the horizon for the less-than-truckload industry. LTL profitability has been dismal for years, with most large carriers reporting operating ratios above 95. Such performance barely generates enough cash to pay for replacement trucks needed to stay in business, and during this period, carriers were criticized...
- Carriers await outcome of Beijing probe into China-Japan trade
The findings of a Chinese Ministry of Transport probe into rate filing by container lines and NVOCCs in the China-Japan market are expected to be released shortly. The case is being watched closely by foreign carriers to see whether China applies the same standard to its own carriers as it...
- Time for a peak-season surcharge in US-Mexico trade?
The imbalance in trade between the U.S. and Mexico, with significantly more northbound versus southbound freight between Mexico and the U.S., was intensified during the recent peak season and left shippers scrambling to find truck and rail capacity in order to move the increasing amount of northbound freight. As a...
|AUGUST 19, 2014|
- DryShips bulker detained
A bulker controlled by the jewel of George Economou's shipping empire appears to have landed in hot water with the US Coast Guard (USCG).
- Molaris IPO under fire
Product Shipping Limited is planning to pursue a US listing but not everyone is convinced that the campaign will bear fruit.
- Sizing up Star Bulk
Star Bulk has pushed itself onto the coat tails of Japan's big three in the dry cargo rankings after its second merger with an Oaktree-linked company this summer.
- Ireland gets busier
Irish shipping and port activity rose by 2% as four of the five principal freight segments grew in the second quarter of 2014.
- Bumi's billion-dollar deal
Malaysia-based Bumi Armada has received a letter of intent (LOI) for a floating production storage and offloading (FPSO) vessel worth $1.18bn.
- LEG pioneers unveiled
German shipowning group Hartmann and Ocean Yield have unveiled details of a trio of liquefied ethylene gas (LEG) carriers building in China to ship ethane from the US to Europe.
- Star Bulk swallows Excel
Star Bulk has swept up the 34 strong bulker fleet of fellow Oaktree-backed company Excel Maritime Carriers to expand its position as the largest US-listed owner in the dry cargo sector.
- DSME nets 19,000-teu duo
DSME has secured an order for two more mega containerships from China's Bank of Communications Financial Leasing Co (BCLC).
- Box alliance bears fruit
Participation in the CKYHE alliance since March has had an immediate positive effect on Evergreen Marine, as shown in its second quarter result.
- Navibulgar splashes on eco-bulkers
Bulgaria's Navibulgar has kicked off its fleet renewal with an investment in new super-sized eco-handysizes in China.
- 'Never say never'
Maersk Line is hopeful its 2M project will not face the same regulatory fate as its scrapped P3 alliance.
- Navios Acquisition loss rises
Navios Maritime Acquisition has seen its second quarter loss increase.
- Ezra merger okayed
Singapore's Ezra Holdings has agreed to the consolidation of its offshore support services division, EMAS Marine, with its associated Oslo-listed EOC.
- Sino-Global in takeover
US shipping agency Sino-Global Shipping America has acquired Hong Kong-based Longhe Ship Management (LSM) in a deal to broaden its interests.
- U-Ming stronger
Taiwanese bulker owner U-Ming has pushed up earnings as revenue doubled in the second quarter.
- Bulker runs aground
A Greek bulker broke down in the middle of the Dardanelles while leaving Istanbul.
- Weapons destroyed
The US Marine Administration (MARAD) has succeeded in neutralising Syria's chemical weapons.
- Triple spur for Maersk stock
AP Moller-Maersk shares gained traction Tuesday as the world's largest shipowner posted strong second quarter earnings, raised its full year profit forecast and revealed a $1bn share buyback scheme.
- Four feared dead
One crewman has been killed and three more were missing after an explosion and fire ripped through an Indonesian tanker.
- Oceanografia keeps contracts
A legal ruling in Mexico will allow Oceanografia to keep its contracts with oil company Petroleos Mexicanos (Pemex) while in bankruptcy.
- Ebola blocks bulkers
Two bulker bookings have been cancelled due to the deadly ebola outbreak in West Africa.
- Lorenzo into red
Philippines feedership owner Lorenzo Shipping has posted a net loss as revenue fell in the second quarter.
- Ferry capsizes
Passengers and crew have been evacuated from a capsized ferry off Chile.
- Yards to merge?
Talks are reportedly taking place over a potential merger of Korea's restructuring shipbuilders STX Offshore and Sungdong.
- AP Moller-Maersk hikes forecast
AP Moller-Maersk has hiked its full year profit forecast after a stronger than anticipated second quarter performance.
- Box boost for Dae Sun
Korea's Dae Sun Shipbuilding has won new orders for containerships from two different owners.
- Nam Cheong sells four
Malaysian shipbuilder Nam Cheong has secured four newbuilding sales deals worth $90m in total.
- Conflict cruising
General Gregorio Pio Catapang, the newly installed chief of staff of the Armed Forces of the Philippines, wants the next ship in his military arsenal to be a luxury cruiseship.
- Coal cargoes surge
Industry forecasters are keeping a close eye on the panamax segment yet again this week on the heels of an encouraging rebound that caught some by surprise.
- Arntzen lands appointment
Industry veteran Morten Arntzen has secured a seat on the board of TBS Ocean Logistics.
|AUGUST 19, 2014|
- NEWS FLASH: Protests in Oakland prevent ships from discharging cargo
A ZIM vessel, as well as well as several others, waits container handling in the Port of Oakland. The Oakland International Container Terminal's manager hopes to resume movement of this cargo before day's end.
- Maersk reports higher second-quarter profit
A.P. Moller-Maersk Chief Executive Officer Nils Andersen said that during the second quarter, "we saw a relatively stable rate environment," but that rates are low, and at some time, customers will have to accept rate increases.
- Williford to retire from Ryder next year
At Ryder, Williford, head of Global Supply Chain Solutions, is credited for the successful acquisition of Transpacific Container Terminal Ltd. and CRSA Logistics in Canada, as well as CRSA's operations in Hong Kong and Shanghai.
- CEVA opens new Los Angeles warehouse
- UPS expands to Myanmar
- Old Dominion starts next-day service to Toronto
The company said the next-day, cross-border service to the Toronto metro area is provided at no additional cost to customers with shipments traveling from Ohio, Indiana and Michigan.
- Flat growth at Port of Los Angeles in July
Inbound containers were 363,394 TEU, down about 2 percent from July 2013; outbound containers were 163,295 TEU, up 4 percent; and empties were 190,719 TEU, up 2 percent.
- APEC keeps trade facilitation at top of agenda
- FMC to hold forums on port congestion
Industry stakeholders, regulators and the general public are encouraged to take part in the forum, which will be held on Sept. 15 from 9:30 a.m. to 4 p.m. at the Port of Los Angeles Administration Building.
- Washington Notebook: USTR Froman stumps for trade deals in four states
- Air France adds Guatemala freighter flight
|AUGUST 19, 2014|
- Soft sentiment in European bunker hubs
Strong demand in Gibraltar.
- Defendant in oil-spill lawsuit claims sunken vessel now rid of oil
2GO Group also claims to be cooperating in cleanup efforts in the Philippine town.
- Mid-week prices mainly firm in Fujairah
Markets were mainly soft in South Africa.
- Navibulgar buys green ships
Four-ship order from Chinese shipyard includes two options.
- Cost keeps cruise liners away from port's grid
CLIA: It's not for us to dictate to our members what the right thing to do is.
- Fuel oil arbitrage volumes to rise in September
Fears of a 'tight' Asian fuel oil market have begun to ease.
- Spanish irritation with Gibraltar bunkering simmers on
'Spain reserves all the options that are at its disposal within the EU sphere' to avoid actions that could damage the marine environment.
- Cruise terminal: 'If this was a factory it would be shut down'
'We must regulate cruise ships to use low sulphur fuel when in harbour,' says Australian legislator.
- Maersk ups profit forecast
As bunker fuel costs fall, says shipping giant.
- Asian prices stay on mixed trading path
Singapore market softens in Tuesday's trade.
- Bunker spill at Tauranga port
Spill involved Seastar Empress during a bunkering operation.
- Rising bunker sales boost Cosco's performance
But outlook cautious for rest of year.
- Total Lubmarine: New challenges for lubes sector
R&D will feature more and more.
- Chinese energy giant 'reconsiders' LNG bunker market
China's economic slow down has weakened demand for LNG as a transport fuel.
- Rolls-Royce reiterates commitment to LNG bunker fuel
'No doubt that gas will be available much longer than mineral-based fuels,' says spokesman.
- IFO prices up in Cartagena
Good avails reported at the Colombian port.