|JULY 21, 2014|
- Maersk Line increases Asia-north Europe rate US450/TEU from August 1
- Port of Rotterdam first half box volume up 1.6pc to 6 million TEU
- Antwerp first half container volume increases 2.9pc to 4.4 million TEU
- China, India taste victory in state-owned company dispute with US
- Labour uncertainty drives up cargo movement through San Pedro ports
- Evergreen adds third Far East-Middle East loop with Cosco, OOCL
- Cheng Lie Navigation takes slots on north Asia-southern Vietnam KCV
- CSX railway quarterly profits up 2pc to US$529 million, sales up 7pc
- Norfolk Southern train derails in Virginia, no spillage or injuries
- Labour strife, cost overruns likely to plague Panama Canal: IHS
- Canadian Pacific challenges arbitrator over cocaine-using engine driver
- UPS expands into Sao Paulo opening nine new operating facilities
- Guide driver on mobile phone failed to notice bridge collapse warning
- Cathay to launch Hong Kong-Calgary B747-8 freighter service
- AAT gains accreditation as EU Regulated Agent after winning AEO status
- Embraer sells US$3.2 billion in regional jets to China bank, carrier
- American Airlines June cargo up 1.2pc to 193.4 million ton miles
- Despite gloom, ICAO says air cargo trends show steady world growth
- Qatar Airways signs order for 100 Boeing 777-9Xs with options on 50
- Architects see Chicago-area proposed third airport as cargo facility
|JULY 18, 2014|
- Coastal shipping between India & Bangladesh on the cards
- FEDSAI outlines key issues in communiqué to Shipping Minister
- Renewed focus on professionalism of watchkeepers
- Shift towards ordering larger box vessels has altered supply-demand balance, says analyst
- Tata Steel to cut freight cost by using waterways for transportation
- Natural rubber imports surge 58 pc in Jan.-June
- Weak demand causes drop in veg. oil imports
- JN Port gets Commerce Ministry approval for its multi-product Port-based SEZ
- Ravi Parmar gets three month extension as Chairman I/C of Kandla Port Trust
- Air India now a part of coveted Star Alliance
- Adani Group seeks approval to raise INR 16K cr.
- CAG emphasises on better DEPB scheme coordination
- Forex reserves up by $ 643.2 m to $ 317.03 bn
- Govt clears 19 FDI proposals worth INR 2,327 cr.
- Import tariff value on gold slashed to $ 425/10 gm
- INR ends sharply weak at 60.27 on heavy dollar demand
- L&T Hydrocarbon bags contract worth $ 846 m from Kuwait
- PPPs must have scope for renegotiation: Govt
- GCCI organises presentation on Gujarat International Finance Tec-city
- A heavy lift ship with capacity of 120,000 t
- Cosco subsidiary boosting heavy lift fleet
- New WWL project cargo service from Asia to Port of Tyne, UK
- Popular ship monitoring system ordered for two heavy lift vessels
|JULY 18, 2014|
- SCA President to discuss shipbuilding outlook
- Kirby orders ATBs at Bay Shipbuilding
- Algoma Central christens second Equinox bulker
- MOL takes delivery of coal carrier
- China takes majority stake in Wärtsilä two-stroke business
- Casino boat grounds, 114 rescued
- BAE San Diego gets $15.1 million LPD 18 award
|JULY 18, 2014|
- Port of Tacoma awarded damages in Maytown gravel mining lawsuit
- Zim announces completion of financial restructuring process
- K Line ammonia carrier vessel rescues injured rowboat crewman
- American Trucking Associations makes executive level changes
- US rail freight traffic posts positive numbers
|JULY 18, 2014|
- OSG nets court approval on plan
Ruling paves way for Chapter 11 exit
- GSL fixes ship to Sea Consortium
All 17 vessels in company fleet now employed
- Panamax charter rates slide again
New ConTex shows 14.3% year-on-year fall for 24-month fixtures
- Cheniere sells LNG from Corpus Christi to France's EDF
EDF will use its own vessels for shipments
- Distress signals from ferries
Must environmentalism end up, because of its zeal, harming the environment more?
- Wärtsilä sells two-stroke engine business to China State Shipbuilding Corp
Finnish engine maker hopes to see rapid business growth in Asian markets
- Papua New Guinea makes impressive start to LNG export business
PNG has so far avoided some of the pitfalls suffered by competitors
- North Europe-South America capacity cuts
Shipping lines axe service as freight rates on the trade lane flounder
- Asia-Europe rates slide for consecutive weeks
August general rate increases cannot come soon enough for carriers
- Rotterdam reports moderate container traffic growth
Second quarter volumes up 3.3% to 3.1m teu, tonnage climbs 5.4% to 33.4 m tonnes
- Vale secures $7.5bn from Chinese lenders despite valemax ban
Cexim hints at newbuilding opportunities and further co-operation between Vale and Chinese lines
- What next for CMA CGM?
Could the French carrier team up with UASC and CSCL to create a four-way alliance battle?
- Qingdao box terminal to issue $145m bonds
Venture between QPI, DP World, APMT and Cosco Pacific seeks domestic financing
- New recycling hub to boost Tilbury box numbers
Sita UK and Forth Ports sign deal to create major recycling hub
- A paradox for capes owners: no honey on rates, but demand keeps flowing
Rates stagnate, but volumes from major suppliers are on the rise notably in the Pacific
- BW Group product tanker poised to load first ever cargo of US condensate
Ground-breaking voyage will herald start of a new trade
- Stealthgas orders four new LPG carriers
Expansion of smaller LPG ships is on track
- Samsung Heavy Industries wins $724m gas carrier order
Deal by South Korean yard prompts talk of VLECs
- Offshore and gas carriers boost Wärtsilä profit
Finnish engine manufacturer hails active contracting in marine markets
- Week on Wall Street | July 18
Look south of the border on oil says Pemex, and the fees that make bankruptcy so awfully expensive
|JULY 18, 2014|
- Jiangsu Hantong secures Sinochem tankers
China's Jiangsu Hantong Ship Heavy Industry has secured an order for up to eight stainless-steel chemical tankers from compatriot shipowner Sinochem Shipping. This firm four 38,000dwt chemical tanker order is regarded by the shipbuilder as an opportunity to move into this new high-value market.
- Jinling wins Densay ultramax order
Chinese shipbuilder Jinling Shipyard has won an order for an ultramax bulk carrier from returning UAE-based customer Densay Shipping & Trading DMCC. The 64,000dwt vessel, to be built to the Dolphin 64 design, is scheduled for delivery in February 2017 and will be Marshall Islands flagged and classed
- Antwerp to build LNG barge bunker station
The port of Antwerp has issued a call for tenders for the construction of an LNG bunker station for inland waterway barges. The port said that construction of the station, which it hopes to have in service by early 2016, was an attempt to break out of the "chicken and egg" situation which was
- Gate LNG Terminal contract awarded
Fluor Corporation has been awarded a contract by Royal Vopak and Gasunie to design and build the liquefied natural gas (LNG) break-bulk expansion facility at the Gate Terminal in the Port of Rotterdam. Fluor, a multi-national engineering and construction firm headquartered in Texas will provide
- Costa Concordia departure may be delayed until Tuesday
Deteriorating weather conditions could delay until Tuesday (22 July) the departure of the Costa Concordia from the island of Giglio. This is according to Franco Gabrielli, head of Italy's civil protection agency, who is overseeing the salvage operation for the Italian authorities. He told Italian
- Sheerness wins ten-year Volkswagen contract
Volkswagen Group UK is to build and oversee a new eight-acre (3.2ha) pre-delivery inspection centre (PDIC) at Peel Ports Medway's Port of Sheerness. The multi-million dollar investment will create 100 supply chain jobs and increase car imports into Sheerness by 50,000 vehicles annually. The new
- Tyne gains new ro-ro service
The UK Port of Tyne has welcomed Wallenius Wilhelmsen Logistics' (WWL) MV Tristan with the first shipment of construction equipment from Asia that heralds a new direct ro-ro service. WWL managing director Paul Reeves commented: "WWL's regular ro-ro service from Asia to Europe via the Suez and Panama
- China poised to buy into Australian container ports
Australia's Asciano is negotiating the sale of a potential $1Bn stake in its Patrick ports portfolio, the company confirmed today (18 July). In a media release to the Australian stock exchange "in response to recent media speculation", Asciano said discussions over a sale were under way. However it
- One more Sewol victim found
Another body has been recovered from the capsized ferry Sewol, South Korea's Ministry of Oceans and Fisheries announced today (18 July). The Ministry said the body, which was of a female victim, was found during a search operation this morning. The victim's body was found in the kitchen on the third
- Chemical leak occurs in Laem Chabang port
More than 100 school children had to be hospitalised after inhaling chemical fumes that leaked from tanks in Thailand's Laem Chabang port. "Port workers had been moving tanks of butyl acrylate onto a container ship when one of the tanks dropped onto the deck and fumes leaked out. Wind then carried
- Five dead in Sewol rescue helicopter crash
A helicopter that was returning to its base after helping on salvage work for the capsized ferry Sewol crashed in South Korea's Gwangju province yesterday morning (17 July). All five firefighters onboard were killed. The crash occurred at 10.53hrs local time. A female high school student who was at
- Evergreen to launch another L-type vessel
Taiwanese carrier Evergreen Line announced today (18 July) that it is to obtain another L-type vessel, which will be deployed on its Asia-US West Coast route after its delivery on 29 July, replacing an older vessel. Named Ever Loading, this is the sixth L-type vessels to be built for the company by
- ReCAAP ISC: Piracy, sea robbery up 16% in 1H14
Singapore-based anti-piracy organisation, ReCAAP Information Sharing Centre (ReCAAP ISC), has highlighted an increase of 16% year-on-year (y/y) in the numbers of reported sea robbery and piracy incidents for 1H14. From January to June 2014, ReCAAP ISC recorded a total of 73 incidents, compared to 61
- MOL gets new Soma Maru, sells older Soma Maru
Mitsui OSK Lines plans to sell one of its older post-Panamax ships after Japan's biggest ship owner took delivery of a new namesake. The 1995-built 90,844dwt post-Panamax bulker Soma Maru, built at Koyo Dockyard, will be available for inspection in Japan's Soma port from next week, MOL officials
- Vale inks deals with Chinese banks
Brazil's mining giant Vale yesterday signed financing agreements with China EximBank and the Bank of China during Chinese President Xi Jinping's visit to the South American country. China Eximbank extended a $5Bn credit line to Vale to buy or lease ships and shipping equipment from Chinese
- Indonesian passenger ship catches fire off Bali
An Indonesia-flagged passenger ship, Gelis Rauh, caught fire off Bali, Indonesia, yesterday. The vessel, owned by the Boedihardjo Group, was carrying 73 passengers and crew, plus 21 vehicles, en route from Padangbai, Bali, to Pelabuhan Lemar, Lombok . A fire broke out on the vessel at 21.35 hours
- Vale and China's ports to develop green initiatives
Vale's Tubarão Port in Brazil and Lianyungang Port in China signed an agreement yesterday to develop green technologies in their operations. Under the agreement, both ports agreed to jointly increase the productivity of their operations, exchange knowledge on safety subject and develop technologies
|JULY 18, 2014|
- Rising labor costs impacting Hong Kong manufacturing
Rising labor costs continue to drive factories out of the Pearl River Delta, with more than a third of Hong Kong-based manufacturers planning to move production to areas with lower costs over the next three years. A survey by the Chinese Manufacturers' Association of Hong Kong, or CMA, found that 32...
- Ocean carrier rate revision roundup for July 18
Multiple carriers have announced general rate increases on several trade routes to take effect in August. Shipper groups have reacted cautiously to the new 2M vessel-sharing agreement between Maersk Line and Mediterranean Shipping Co., which could help soak up some excess capacity. The deal could also pave the way for CMA...
- ILWU talks to recess Monday for union caucus
Contract negotiations between the International Longshore and Warehouse Union and the Pacific Maritime Association will recess beginning Monday for a previously scheduled union caucus. It is not unusual for the ILWU to call caucuses from time to time, although next week's meetings "will certainly cover the contract negotiations," ILWU spokesman Craig...
- Ontario's manufacturing growth boosts cross-border trucking
Manufacturing growth in Canada's central province of Ontario is boosting freight traffic with the U.S. and increasing demand for faster cross-border trucking service. Manufacturing sales in Ontario grew 3.3 percent year-over-year in the first quarter, as exports of parts, consumer goods and machinery increased, according to the Royal Bank of Canada. "Sustained...
- China-based cyberattack hits logistics operators, shippers
A sophisticated computer attack launched from China stole financial records, customer data and shipment manifests from as many as seven shipping and logistics companies, using handheld scanners infected with malicious software to crack through corporate security systems. The first cyberattack known to specifically target global shipping companies raises concerns about the...
- FedEx rebuffs drug-trafficking charges
FedEx officials said today the company will fight federal drug trafficking charges linked to the distribution of prescription medicines illegally sold through Internet pharmacies and defended their efforts to prevent FedEx distribution networks being co-opted for illegal purposes. A U.S. federal grand jury in San Francisco Thursday indicted FedEx, FedEx Express...
- Rates across SCFI drop lower
Spot rates from Shanghai to Northern Europe sank 5.5 percent to $1,230 per TEU this week. Full-size chart Instability in the spot rate market continued this week, as spot rates from Shanghai to northern Europe, the Mediterranean and both coasts of the United States sank yet again amid a hearty schedule of...
- Antwerp to build LNG bunker station
The Port of Antwerp plans to build a bunkering station to encourage use of liquefied natural gas by self-propelled river barges. The bunkering station is the latest of several projects around the world to develop infrastructure to support vessels' use of LNG as a cleaner-burning and possibly more economical alternative to...
- Managing Your Staff
I had the opportunity at a recent trade conference to catch up with a friend who manages the trade and customs operations of a Fortune 500 company. The conversation quickly turned to a dilemma she faced involving the recent departures of two key staff members within a three-week period. Given...
- Hub Group expects NS, UP intermodal service to improve by year-end
After seeing "substandard" intermodal rail service cut its container utilization in the second quarter, the Hub Group expects gradual service improvement from its main partners, Norfolk Southern Railway and Union Pacific Railroad, by the end of the year. The Class I railroads' effort to improve intermodal service reliability with more locomotives...
- Rotterdam's first-half container growth trails rival Antwerp
The Port of Rotterdam's container traffic rose 1.9 percent year-over-year in the first half, driven by higher volumes on Asian and North American routes, but growth again trailed that of neighboring Antwerp. Europe's biggest container hub handled just over 6 million 20-foot-equivalent units in the six months through June, up from...
- California trucking groups lobby to keep fuel costs down
Trucking interests in Southern California were urged this week to lobby for a delay in the inclusion of transportation fuels under the state's cap and trade law, or risk higher and volatile diesel fuel prices that could significantly increase their cost of doing business. Speakers at a Harbor Trucking Association meeting...
- India's exports rose again in June
India's merchandise exports rose for the third straight month in June on a year-over-year basis, expanding 10.22 percent to $26.48 billion, according to preliminary figures released by the nation's Ministry of Commerce and Industry. Export growth in June was led by readymade garments, engineering goods, petroleum products, leather products and handicrafts,...
- India clears way for SEZ operation adjacent to Mundra port
India's largest port infrastructure developer, Adani Ports, has received government approval for its "special economic zone" project at the Port of Mundra, allowing the non-government cargo terminal to consolidate operations. "The grant of the environmental clearance to Mundra SEZ by the Ministry of Environment and Forest will encourage investment in SEZ,...
- Congestion explained by LA-Long Beach import surge
A surge of imports through Los Angeles-Long Beach in June caught transportation providers by surprise, and helps explain why the ports had problems with terminal congestion and capacity shortages in both the rail and drayage trucking sectors. While it is obvious that retailers and other importers shipped early this year through...
- Hactl on the rebound a year after Cathay exit
When Cathay Pacific left Hong Kong Air Cargo Terminals (Hactl) a year ago to start its own freight business next door, the carrier walked out taking 1.2 million tons of annual cargo with it. To put that figure in perspective, JFK International in New York handled 1.29 million tons last year,...
|JULY 18, 2014|
- Heidmar unworried
New sanctions slapped on Rosneft by the Obama administration are not expected to halt the Russian oil giant's takeover of a stake in pools power Heidmar, company officials said today.
- OSG almost out
Overseas Shipholding Group's reorgansation plan was approved today by a US bankruptcy judge in Delaware, some 20 months after it filed for Chapter 11 protection, an OSG official confirms.
- Volga volumes rise
Russian cargoship owner Volga Shipping has posted a 5% increase in cargo volumes for the first half.
- Seadrill says sorry
John Fredriksen's Seadrill has moved to repair damage stemming from an unsuccessful $1bn bond issue.
- Parental support
China Shipping has provided a $300m liquidity boost to its Hong Kong-listed boxship division, China Shipping Container Lines.
- Optimism examined
We take a look at what was said in the market over the past week.
- Yards eye upgrade
BC Ferries tendering for conversion of two ships to dual-fuel in deal worth up to $60m.
- Precious set for profit
KT ZMICO is backing Precious Shipping to return to profit in the second quarter despite a weak period for the dry cargo market.
- Kazakhs hit record
Kazakh national shipowner KazMorTransFlot has posted its best ever profit in the first six months of 2014.
- Casino ship refloats
A US casino cruiseship has freed itself after grounding off Savannah, Georgia.
- $100m for MBC
Malaysian Bulk Carriers (MBC) has clinched a new MYR 320m ($100m) loan to refinance short-term debt.
- PDZ brings in Helmi
Malaysian boxship owner PDZ Holdings has appointed a group chief operating officer as it seeks a move into the offshore sector.
- Gas leak hits 100
More than 100 people were taken to hospital on Thursday after a chemical leak on a K Line containership.
- Asciano in sale talks
Asciano has confirmed speculation it is in talks to sell assets worth more than $1bn.
- Vale pens China port pact
Vale has taken advantage of a state visit by Chinese president Xi Jinpin to sign a deal with Lianyungang Port.
- Martinac on block
A last-ditch bid to save JM Martinac Shipbuilding of the US has failed.
- Wartsila edges up
Finnish ship power group Wartsila has posted a higher profit in the second quarter despite a revenue rise.
- Wartsila teams with CSSC
Wartsila and China State Shipbuilding Corporation (CSSC) are forming a joint venture to operate the Finnish group's two-stroke engine business.
- Sovcomflot loses out
Sovcomflot has failed to have the detention of one of its tankers in Australia late last year overturned at an appeal.
- John's Russian dilemma
John Fredriksen could face potential fallout from the latest round of sanctions against Russia over the situation in Ukraine.
- West coast volumes jump
As predicted US west coast terminals saw a surge in container volumes in June, figures from two of the ports show.
- Economou on a roll
The jewel of George Economou's shipping empire has cleared another hurdle in the race to shore up its balance sheet.
- TNP seeks cash
Teekay LNG Partners has returned to the capital markets for cash to help fund its expansion campaign.
- X-Press dials GSL
A leading UK containership owner has made good on a promise to firm up new revenue streams after lining up a fixture for its only unemployed asset.
|JULY 18, 2014|
- Obama uses executive authority to boost infrastructure investment
Obama said deferring maintenance and enhancements is a drag on the economy, noting that construction will create jobs now, and future growth will come from companies that take advantage of efficient transportation and hire more.
- Air cargo pricing index 12 weeks away
The index, which will be compiled through information submitted by forwarders, will initially focus on key air cargo trading lanes out of Hong Kong. The founders have been working toward an index like this for a decade.
- BNSF prepares for fall harvest
A BNSF official said that the Surface Transportation Board's order to increase grain shipments might encourage customers to "seek regulatory intervention." This, he said, will pit regions and commodities against one another.
- General cargo boosts St. Lawrence Seaway volumes
The cargo discharged this week includes 12 nacelle cooling units and 14 generators destined for the wind farm near New Salem, N.D. The components are loaded on trucks and driven to the wind farm.
- Government indicts FedEx over Internet pharmacy deliveries
- Algoma takes delivery of ship with exhaust scrubber
- TOTE says engine for Puerto Rico ship delivered
- Executive moves
|JULY 18, 2014|
- Panama Canal fuel prices mostly up
Average demand reported at the Central American port.
- Weekly Global Market Report
A weekly price roundup from bunkering hubs around the world.
- Chinese firm in deal for Wartsila's two-stroke business
Acquires 70% stake for $62 million.
- Shell puts Canadian LNG fuelling project 'on hold' again
Emerging market needs a 'balanced approach', says firm.
- Antwerp terminal 'responds to ECA regulations'
Extra storage capacity added for marine fuels, including distillates.
- Prices close week firm in Fujairah
180 cSt material fell sharply at Suez.
- Joined-up approach to improve cat fine management
Sea trials show positive results from combining monitoring with separator adjustments to reduce engine damage.
- Prices mixed in Europe
380 cSt flat in Gibraltar.
- Antwerp: LNG bunkering station ready for 2016 start
Move aimed at inland barge market.
- Argentinean ports face more strike woes
Customs union in overtime ban threat.
- Hapag-Lloyd prepares customers for 2015 cost increases
Predicts higher low sulphur premium than that used by Maersk for calculating extra ECA costs.
- Maersk vessel dons fuel monitoring kit
Modifying engine use could lead to fuel savings.
- Costa Concordia's passage under scrutiny
French government won't tolerate pollution to its coastline.
- Asian prices end week stronger
Tokyo Bay to close for a holiday on Monday.
- Fuel costs hit profits for Norwegian shipowner
Prices rose 6% in first half of 2013.
- Ten newbuildings to join Chinese bulker fleet
Meanwhile, eight ships scrapped as part of company's fleet renewal efforts.
- Nigerian government to start bunkering business
October marked for operational start.