|MARCH 21, 2014|
- TSA sets US$300/FEU rate hike on April 15, not May 1 as first billed
- World's No 2 box maker 2013 profit down 43pc as revenue falls 16pc
- LA and Long Beach blame Chinese New Year for February cargo decline
- Shagang Shipping arrests ship in Australia in continuing battle with HNA
- Striking Vancouver truckers ordered back Monday, cargo begins to divert
- Forwarders' WCA Conference abandons riotous Bangkok for Hong Kong
- Crimea expropriates provincial ports, insurers raise legal concerns
- Newbuilding deliveries continue unabated with entry of three giants
- China's logistics cost rises 9.3pc in 2013 to US$1.66 trillion
- Guangdong province to spend US$813 million dredging Beijiang River
- Singapore set for good times as Asia Pacific Maritime conference opens
- Uniform standards of ship strengths first aim of class societies
- Guangxi Xijiang River ports cargo volume hit 161 million tonnes in 2013
- Cosco Pacific, China Shipping, HPH terminal deal could lift flagging HK port
- AA Cargo, US Airways Cargo co-locate for waybilling at New York JFK
- Lufthansa Systems 2013 revenues up 5pc as restructuring pays off
- Construction starts on new air cargo terminal at Hamburg Airport
- Korean Air doubles daily A380 frequency to east and west coast US
|MARCH 20, 2014|
- IRS proposes innovative solution to ballast water treatment issue
- KMTC opens own office in Mumbai
- ST. BRITTO'S COLLEGE ORGANISES 'VIGIL2014' AT CHENNAI
- World's largest LCL service provider ECU-LINE celebrates 25 years of leadership in the NVOCC space
- Cochin Port gaining ground in bunker sales
- MbPT celebrates Women's Day
- MoS looking at viability gap funding for the two proposed Major Ports
- New Mangalore Port handles largest parcel size from VLCC
- Securitisation, additional loans to expedite NHAI projects
|MARCH 21, 2014|
- Eurotunnel receives CTS certification again
- Ever bigger vessels - ever longer transit times
- Norfolk Southern and GoRail unveil new locomotive
- Cathay Pacific Cargo flying to Columbus
- Presidents of ports of Le Havre and Rouen confirmed
- Asian shipping community to raise its voice
- Waberer's: stellar performance in 2013
- MEPs reject informal deal on aviation emissions
- UPS opens new facility to improve cross-border shipping
- WWPC board advisors elected
- Encouraging outlook for LNG/LPG shipping
- New website for calculating environmental footprint
- More Mahan flights to Shanghai
- AMI Manchester hits 75% local departures
- In der Welt zu Hause
- VDR mourns loss of Lindemann
|MARCH 20, 2014|
- Refiner to offer low sulfur blend to tug and towboat market
- BP back in the lease sale arena
- Ingram participates in SmartWay Barge Freight component
- DOF Subsea charters third Jones Act vessel
- IRClass: put BWT on service boats in ports
- Rolls-Royce to power Asia's first gas-fueled tugs
- Another guilty plea in Glenn case
|MARCH 20, 2014|
- TSA carriers speed up general rate increase plans
- Port of Seattle announces Green Gateway award winners
- Parsons Brinkerhoff taps Schechtman as deputy regional business manager
- Port of Tacoma releases February cargo volume numbers
- American Fast Freight names Pagan as National Accounts vice president
|MARCH 20, 2014|
- Total and China poised to sign $21bn LNG deal
Ambitious French energy giant and China are perfect match
- UK Chamber criticises MCA
Regulator needs to be more commercial, says incoming president
- Hoegh car carrier joins search for missing Malaysian plane
Vessel diverted after debris spotted
- VLGC earnings spike ensures investment in market stays buoyant
Spot rates highest since last summer and closing in on all-time high
- Transpac lines advance rate increase ahead of contract signings
Carriers push for higher spot rates as benchmark for 12-month agreements
- Søren Skou elected Box Club chairman
Maersk Line chief chosen by peers at Dubai meeting
- TOP Ships acquires five more newbuilds from Pistiolis
Rebooted fleet of public owner all covered with medium term charters
- Obituary: Dierk Lindemann
Key architect of Maritime Labour Convention
- Owners monitoring CO2 and fuel use claim commercial advantages
As Europe develops mandatory MRV for shipping, shipowners with bespoke systems point to benefits
- Zeeland Seaports appoints interim chief executive
Jan Lagasse to replace Hans van der Hart
- Aker Philadelphia shipyard raises $4.4m after targeting $9m
Yard did not expect share offering to be fully subscribed
- Cosco International reports 33% decline in profits
Shipping services outfit blames slowdown in newbuild deliveries and customers' cost-cutting
- DP World 2013 revenue slips
Ports group cites tough market conditions and capacity constraints in key locations
|MARCH 20, 2014|
- Wild ride for embattled Genco
Shares of Peter Georgiopoulos-chaired Genco plunged on bankruptcy fears and then surged back up on news that a bond interest payment was made at the last moment
- Teekay spin-off to focus on second-hand ships
Tanker Investments, the Teekay group spin-off that will focus on second-hand tonnage, says it has completed book building ahead of listing of its shares on the Oslo Stock Exchange
- DP World records flat trading year
DP World posted flat financial results for 2013, the company announced today
- Car carrier hunts for missing Malaysia plane
A Norwegian car carrier has joined in the search for the missing Malaysian flight MH370 off Australia's western coast, the ship's owner confirmed today
- Bad weather hampers Australia plane 'debris' search
Australian search and rescue teams have so far been unable to find debris that could be from missing Malaysian flight MH370 due to rain and poor visibility
- Kandla Port scraps tender for container terminal
Kandla Port, India's biggest state-owned major port, has scrapped the tender for a mega container terminal at Tuna-Tekra, and is reducing the scale of it to attract global bidders
- VLCC rates flat as fixtures slow down
Spot freight rates for VLCC tankers have remained flat as the number of fixtures is on a downward path, according to ship broker Fearnley
- Chinese ships begin new MH370 hunt
Chinese vessels set out for new search areas on Wednesday to hunt for the missing Malaysia Airlines jetliner MH370
- UK maritime sector welcomes budget
The UK shipping industry has welcomed the measures proposed by chancellor George Osborne as he revealed details yesterday of the 2014 budget, describing it as "an export-led budget for an export-led recovery"
- KR releases hull analysis software
Class society Korean Register has released software SeaTrust-HullScan to help shipbuilders and designers analyse and appraise a vessel's hull structure so it can comply with the new harmonised common structural rules
|MARCH 20, 2014|
- FMC Approves P3 But With Tighter Monitoring Conditions
WASHINGTON - The U.S. Federal Maritime Commission today voted 4-to-1 to allow the P3 Network to set sail in the second quarter and vowed to create new reporting requirements to monitor the vessel-sharing agreement involving the three largest global container lines. Commissioner Richard Lidinsky gave the sole dissenting vote against the...
- DP World Hikes Profit as Revenue, Volume Dip
DP World posted a 10.9 percent increase in net profit in 2013 as it focused on fast-growing emerging markets, but revenue and container volume declined on capacity constraints, asset disposals and tough market conditions. The Dubai-based global terminal operator's net profit grew to $603 million from $545 million in 2012 on...
- Union Pacific Corporation Elects David B. Dillon to Board of Directors, Names CEO Jack Koraleski Chairman
Union Pacific Corporation today announced that David B. Dillon has been elected to the company's board of directors, effective immediately. The board also voted to elect the company's chief executive officer Jack Koraleski, chairman of the board. Dillon, 62, is the chairman of The Kroger Co., based in Cincinnati, Ohio. Kroger...
- Employee-Driver Bill Reintroduced in NJ
A bill to reclassify drayage and parcel delivery drivers as company employees instead of independent contractors has been reintroduced in the New Jersey Legislature. The bill is similar to one that Gov. Chris Christie vetoed last year. The Teamsters union contends that most owner-operators at U.S. seaports are misclassified as independent...
- APM Terminals to Launch Trucker Appointment System in LA
APM Terminals in Los Angeles on April 7 will roll out a trucker appointment system that the manager of Southern California's largest container terminal believes will speed up turn times in the harbor. "This thing works," said Alan McCorkle, senior vice president of the 440-acre terminal at the Port of Los...
- Inland Waterways Bill to Help US Exporters But Extent Unclear
WASHINGTON - The federal government is on track to free up trust fund dollars for inland waterway improvements other than a long-delayed, grossly over-budget project that has soaked up much needed funding. Freeing up money for work other than the Olmsted locks and dam project would help shippers and barge companies...
- CSAV, Hapag-Lloyd Merger Set to Move Forward
Shareholders of Chilean ocean carrier CSAV are expected to approve tomorrow a possible merger with Hapag-Lloyd that would create the world's fourth largest container shipping line. The merger moved forward earlier in the week when CSAV bondholders agreed to a change of covenants to allow the CSAV group to sell its...
- Back-to-Work Order Planned for Striking Vancouver Truckers
TSI DeltaportWith few signs of striking truckers and Port Metro Vancouver reaching a deal, the provincial government of British Columbia said it will introduce back-to-work legislation as soon as March 24. The 90-day cooling off period would only affect the 250 union drivers belonging to Unifor, and not members of the...
- Vancouver Port Turns Up the Heat on Striking Truckers
In an effort to turn up the heat on striking truckers, Port Metro Vancouver has announced it will not renew port-issued licenses and permits that are set to expire soon, and will issue new ones only to those truckers who return to work today. "I cannot imagine why we would issue...
- Taking a Tough Line on LTL
Q: You've written before about consignees who reject deliveries of truckloads that were sealed because the seals were breached. We're a less-than-truckload motor carrier, and your articles made me think of some issues we are having with shippers who ship containers, shrink wrap and other various products used in food...
- Video From TPM: Voxx's Sea-Truck Program Cuts Transit Time
Electronics manufacturer Voxx International through its Sea-Truck program has successfully eliminated virtually all air freight and millions in cost from its supply chain. It has adapted a combination of ocean freight and trucking via team drivers who race across the country almost nonstop from the Port of Seattle to distribution centers...
|MARCH 20, 2014|
- Grain drain in South America
Delayed soya bean exports from Argentina to China will lend a boost to the dry-bulk market when they finally hit the water later this year, Safe Bulkers' chief executive said.
- Diamond not in rough
Diamond S Shipping feels no compulsion to make a next move after seeing its New York IPO fall short earlier this month, its billionaire backer insisted today.
- Genco dodges bullet
Shares of Genco Shipping & Trading soared in after hours trading Thursday after alerting investors that it has coughed up cash to cover a lapsed bond payment.
- Uncertainty haunts Genco
Wall Street appears to be growing increasingly concerned about the future of Genco Shipping & Trading (Genco).
- Duo sweet on YZJ
DMG & Partners has raised its outlook on Yangzijiang Shipbuilding (YZJ) after the Chinese company revealed it will pay a lower tax rate over the next three years.
- BG in LNG warning
UK stocklisted BG Group says the LNG industry is in a period of "supply hiatus" as new production coming onstream plateaus while demand rises in Asia and Latin America.
- Ukraine on the brain
The crisis in Crimea is unlikely to have a significant near-term impact on the US shipping industry or the nation's LNG market, according to the head of the US Maritime Administration.
- Navig8 catches VL leaders
Navig8 has propelled itself into the VLCC big league after its second newbuilding swoop in the sector.
- DP World earnings soar
Dubai port operator DP World has posted a 26.6% increase in earnings for 2013 as revenue rose.
- Dof firms Gulf grip
Dof Subsea of Norway has beefed up its presence in the US Gulf of Mexico with another Jones Act compliant subsea vessel.
- Paraskevi being shifted
A grounded Greek bulker is ready to be refloated in the Parana river in Argentina after going aground on 10 March.
- Navig8 bags VL sextet
Navig8 Crude Tankers has raided the Norwegian OTC market for $245m in fresh equity to back expansion of its VLCC fleet, the owner confirms today.
- Hoegh joins MH370 search
A Hoegh Autoliners car carrier is playing a vital role in searching a remote sea area where debris from a missing Malaysian airline may have gone down.
- Criminalisation legacy lingers
A disturbing trend toward criminalisation of maritime accidents and violations continues to threaten shipping 25 years after the Exxon Valdez disaster, a prominent defence lawyer says.
- Man of steel
Robert Bugbee has been crowned commodore of the Connecticut Maritime Association (CMA).
- Fincantieri's profit surges
Fincantieri has reported a huge leap in profit last year as revenue jumped following its majority purchase of Norwegian offshore vessels builder Vard.
- VLGC rates racing
VLGC rates are running hot just as two of the world's four largest owners in the sector are pressing ahead with initial public offerings (IPOs).
- Siem tapping bond market
Shipowner Siem Offshore is considering launching a sale of bonds in the Oslo market.
- Cosco in $312m order
China Cosco has continued its newbuilding momentum with a $312m deal for eight new dry cargo vessels.
- Aker Philly comes up short
Aker Philadelphia Shipyard has sold just less than 50% of its subsequent share offering, raising $4.4m.
- Viking axes Backman
Viking Line has fired chief executive Mikael Backman and replaced him with company veteran Jan Hanses.
- MSC signs for cruise duo
MSC Cruises has put pen to paper on a new cruiseship order worth up to EUR 3bn ($4.13bn) at STX France.
- Gulf Nav takes $60m hit
Gulf Navigation has made a loss provision of over $60m after coming off second best in an arbitration dispute related to a pair of cancelled VLCCs in China.
- Gard sues IOPC Funds
A conflict between the Gard marine insurance group and the International Oil Pollution Compensation (IOPC) Funds is set to be fought in a London court more than 17 years after the tanker spill at the heart of the dispute.
- Top Ships adds four more
Greece's Top Ships is continuing its fleet rebuilding by snapping up four more new MRs due from Hyundai Mipo through to 2016.
- Pantheon adding aframax
Pantheon Tankers of Greece is adding to its aframax tally and is close to buying the 110,300-dwt Mare Italicum (built 2007).
- TIL hits the top
Teekay spin-off Tanker Investments Ltd (TIL) has raked in $175m from its upsized Oslo initial public offering (IPO).
- RABT prepares sale
Swedish shipowner Rederi AB TransAtlantic (RABT) will get the ball rolling on its proposed SEK 150m ($23.4m) equity offering within the next month.
- Braemar sells US unit
UK broker Braemar Shipping Services has offloaded its US technical services company Casbarian.
- Kherson in the red
Ukraine's Kherson Shipyard has posted a loss of UAH 53.37m ($5.26m) for 2013.
- Yard workers hole ferry
A Washington State Ferries (WSF) ship sprang a leak after shipyard workers accidentally drilled a hole in its hull.
- Nova Star starts in May
A new ro-pax service between the US and Canada will be up and running in May, two weeks later than originally planned.
- Vallianz eyes fresh funds
Vallianz, the Singapore offshore vessel operator, is looking to raise fresh capital to fund the next stage of its expansion.
- Bulk Peace arrested
Shagang Shipping has had a HNA Group controlled capesize bulker arrested in Australia over a long running charter dispute.
- John I heads for Argnetia
Salvors have begun to tow a disabled supramax bulker that ran aground of Canada to safer waters for further assessment.
- Ban to hurt Indonesia
Indonesia's trade and government revenue will be hit by the ban on mineral ore exports, the World Bank has said.
|MARCH 20, 2014|
- NYK to stop providing chassis in Calif.
NYK said that starting May 1, it will no longer provide chassis at marine, truck depot and intermodal rail facilities in Long Beach, Calif.; Los Angeles; San Diego, Calif.; and Phoenix, Ariz.
- Global Ship Lease sees opportunity in smaller ships
The container ship charter Global Ship Lease said a new capital structure it is creating will allow it to take advantage of opportunities to grow and possibly pay dividends to shareholders.
- Ga. approves additional $35M for Savannah deepening
Georgia's state legislature has approved Gov. Nathan Deal's proposal for $35 million in additional dredging funds for the Savannah Harbor Expansion Project. Georgia has now allocated $266 million, meeting the state's portion for the project.
- British Columbia seeks cooling-off period to end trucker strike
- Port Canaveral awaits first ship-to-shore cranes
- FMC accepting electronic payments
- Barge company joins EPA's SmartWay program
- City celebrates first Uruguayan lamb meat shipment since 2001
- Electronics distributor chooses LLamasoft for supply chain software
- TSA plans April rate increase
- NEWSFLASH: FMC allows P3 Network to move forward
The U.S. Federal Maritime Commission said its members voted not to block the P3 Network that Maersk, Mediterranean Shipping Co., and CMA CGM plan to start later this year.
- Executive moves
|MARCH 20, 2014|
- Prices move independently in Fujairah
Soft prices seen in Cape Town.
- Prices mainly soft in Europe
IFO380 prices rose in Rotterdam.
- Shipowner: We can profit from CO2 monitoring
If CO2 monitoring means savings, there lies commercial advantage.
- 'Technical issues' block data release
Singapore trade agency unable to publish fuel oil data.
- Sea trials successful for voyage optimisation product
Will be extended to other ship types.
- Singapore-based player moves out of higher risk markets
But move sees trader's profits shrink.
- Tax reforms set to boost bunker traffic
Regional authorities in south-west India plans VAT cuts for marine fuel.
- Hong Kong approves low sulphur regulation
Suppliers of non-compliant fuel could face jail.
- Bunker price movement largely down in Asia
Only Tokyo Bay saw limited avails, among key Asian ports.
- Korea Navy to use hybrid electric drive
System will 'provide significant fuel and maintenance costs savings.'
- New staff at Glander International
Euwyn Tan joins Singapore office as bunker and lubricant trader.
- Evergreen cuts carbon footprint
Fuel efficient L-type vessels 'a major part' of Evergreen's fleet renewal programme.
- Gas-fuelled tug ordered from Chinese yard
Order comprises two tugs plus options.