|MARCH 24, 2014|
- China's port throughput nationwide grows 5.7pc in first two months
- Maersk Line's chief executive Soren Skou voted chairman of Box Club
- NYK will no longer provide US west coast customers chassis from May 1
- China road and waterway cargo traffic saw growth in first two months
- US manufacturing output increases to six-month high in February
- South Carolina Ports container traffic up 5pc from July-February
- Union Pacific invests US$4.5 million on Nebraska/Iowa transport upgrade
- Rickmers charters two 3,450-TEU ships to Maersk for US$5 million plus
- NileDutch upgrades capacity on Asia-West Africa trade
- Concrete poured for bridge pier on Yancheng section of Lianyan Railway
- Six new berths in Rizhao expected to launch electronic port this year
- Huanghua port Phase 4 to up handling capacity wins NDRC approval
- US blizzards, sloppy retail packaging cut FedEx quarterly profit 33pc
- China to tighten control on air transport of hazardous materials
- Air China to fly Shanghai-Munich with Airbus 330-200 from June
- 92-metre airship with 5 ton payload can land anywhere flat
|MARCH 21, 2014|
- Mega vessel deliveries add to capacity
- NMIS' Gandhidham study centre students receive diplomas
- P3 Network clears FMC regulatory review
- Six SCI vessels bag safety awards
- APM Terminals Inland Services, South Asia wins CII's Environment, Health & Safety Excellence Award
- Crimean ports impacted by Russian takeover of province
- Dighi Port handles 19,348 t of steel coils in 24 hrs
- Federations want task force to study issues faced by Major Ports
- PCHAA organises seminar on Customs excellence
- Forex reserves rise further by $ 1.838 bn to $ 297.28 bn
- Govt scraps canalisation clause for onion export
- INR ends higher at 60.89 on strong foreign fund inflows into domestic markets
- Gunderson Marine launches heavy lift cargo deck barge
- Höegh vessel part of search & rescue effort for missing Malaysian plane
- Maersk-Rickmers US Flag Project Carrier to be discontinued
- Worldwide Project Consortium holds successful conference in Phuket
|MARCH 24, 2014|
- US freight railroads investing record sum again
- CMA CGM launches Asia-Southern Red Sea express service
- BLS Cargo hauls itself back into the black
- Pegasus chooses FCS as handling partner
- Evergreen names 18th L-type vessel
- Railfreight volumes edging up in Germany
- From air to sea: study reveals more about modal shift
- Zurich 2013: volumes down, revenues up
- AEC Maritime installs scrubbing technology on Scandlines...
- Nüllig & Hass investing in fleet
- Back to the roots
- UK freight forwarders welcome export boost in UK budget
- American Airlines and US Airways co-locate cargo at JFK
- «Fahrende Lagerhäuser»
|MARCH 21, 2014|
- Meyer Werft cuts first steel for Norwegian Escape
- ICS sets out its position on CO2 monitoring, reporting
- Rescue craft to have WhisperPower generators
- DNV GL opens new Vietnam office
- WSF christens first Olympic class ferry
- Moseley steps down as WSF head
|MARCH 21, 2014|
- Federal Maritime Commission Oks P3 Vessel Sharing Agreement
- US rail freight traffic produces positive week
- Seattle-based Coast Guard Cutter returns following 'Deep Freeze' duty
- Three modes of transportation lead NAFTA partner trade in 2013
- Evergreen Group names new L-type container ship
|MARCH 21, 2014|
- Aframax tankers to gain from Mexican energy reforms
Country takes first practical steps to reverse decline in exports
- Shippers welcome FMC P3 monitoring programme
US body will require advance notification of any service modification that changes average weekly capacity
- CSAV decision on Hapag-Lloyd merger faces delay
Extra time provided for absentees from vote
- MOL predicts G6 to have two 18,000 teu loops at most in long run
Alliance member reckons G6 already has enough competitive ultra-large boxships
- New shipping Bill could make Spain more arrest friendly
Ships flagged in non-ratifying states to the 1999 Arrest Convention could be seized
- Nanjing Tanker faces delisting after it posts fourth annual loss
Auditor raises alarm on company's 'operational continuity'
- China Cosco orders eight bulkers at unit of CSIC
Total cost for four capesize and four handymax ships is $312m
- Helle Gleie quits SSI
Sustainable Shipping Initiative seeks new director as it moves into more active phase
- Avance Gas does not rule out future New York listing
Fredriksen-invested gas company in strong position to raise capital
- Fall in Asia-Europe rates slows down
Carriers and customers brace for the coming rate increases
- Still a long way to go for P3 carriers
Chinese regulators could be harder to convince than the FMC
- Mercator confirms purchase of Varun LPG vessel
Troubled Indian gas specialist says it will use sale proceeds to pay creditors
- Access to capital will likely entrench a two-tier shipping world
Larger shipowners benefit, while smaller vehicles unlikely to attract new money
- P3 scrapped plans for supplier joint contracts to help win FMC approval
Further details of FMC monitoring programme revealed
- The Week on Wall Street | March 21
Free to read: Shipping news and gossip from the Capital Link 8th Annual Invest in International Shipping Forum
- Time of transition
World events will have a major impact on the choice of fuels for the next generation of ships
|MARCH 21, 2014|
- Bergen Group reduces shipbuilding venture stake
Bergen Group, the listed Norwegian offshore and shipbuilding group, has decided to sell more shares in its former shipbuilding division than originally envisaged, thereby reducing its exposure to the shipbuilding industry even further
- Wärtsilä's Vaasa workforce protests at cuts
All 800 workers at Wärtsilä's marine and power station factory marched out of their jobs yesterday when it was announced that the majority of the company's 142 job cuts in Finland would be axed in Vaasa by June
- Eagle Bulk faces new deadline
To avert default, Eagle Bulk has until 15 April to conclude restructuring talks with its bank syndicate
- Havila Shipping signs NK450M refinancing deal
Havila Shipping, the listed Norwegian offshore services vessel owner, has signed an agreement with its banks for a NK450M ($78M) loan
- Avance Gas Holding targets $100M IPO
Avance Gas Holding Ltd, the VLGC owner in the process of going public in Oslo, is targeting a primary issuance of approximately $100M in new equity
- Transatlantic to raise SK150M through rights issue
The board of Rederi AB Transatlantic, the listed Swedish industrial shipping and offshore services group, plans to raise SK150M ($19M) through a rights issue to continue its restructuring programme
|MARCH 21, 2014|
- Ocean Carrier Rate Revision Roundup for March 21
Several container lines have scheduled rate hikes in multiple trade lanes in April and May, although any increases achieved could be temporary, as overcapacity continues to negatively impact carriers' control over freight rates. At JOC's TPM 2014 conference, panelists said container lines will continue to face challenging times in 2014 and...
- CSAV Shareholders Overwhelmingly Back Merger With Hapag-Lloyd
Headquarters of Hapag-Lloyd and CSAV.Shareholders of Chilean ocean carrier CSAV today overwhelmingly voted in favor of a planned merger with Germany's Hapag-Lloyd that would create the world's fourth-largest container shipping line. The carrier also secured backing for a $200 million capital increase to aid the financing of seven 9,300-TEU container ships...
- Transshipping's Disadvantages
Whenever the word "transshipping" comes up, I'm instantly reminded of the old football maxim regarding the forward pass that states "three things can happen ... and two of them are bad." This is because transshipping, although generally considered a legal term, also carries a negative connotation because of its known...
- CN Faces Imminent Strike Threat
The union representing about 3,000 conductors and train and railyard workers at Canadian National Railway could strike as soon as March 22 after rejecting a tentative agreement yesterday. CN said it has proposed binding arbitration to reach a contract agreement with the Teamsters Canada Rail Conference - Conductors, Trainpersons and Yardpersons....
- Vancouver Port Strike Could Reduce CP, CN Intermodal Traffic
A continued truck strike at Port Metro Vancouver could cost the major Canadian freight railroads intermodal business and further hamper the export of containerized forest products. The strike, now in its third week, could spur shippers to shift cargo to ports in the U.S. Northwest, reducing intermodal volume handled by Canadian...
- Maersk, CMA CGM to Dominate Asia-West Africa Trade
Maersk Line and CMA CGM are set to dominate the Asia-West Africa liner trade when they combine their direct services in April. The Danish and French ocean carriers and their Safmarine and Delmas subsidiaries will control 64 percent of the direct effective vessel capacity on the route, according to Drewry Maritime...
- Ship Orders on Hold Until Alliances' Impact Is Seen
Ocean container lines and the shipowners that lease ships to them are suspending new ship orders for fuel-efficient mega-container vessels until they can assess the impact of the expanding carrier alliances like the P3 Network, the expanded G6 and the CKYHE, and now the new merger between Hapag-Lloyd and CSAV. This...
- 'Cyber' Cargo Crime Called Growing Threat
On Friday afternoon, freight needs to move, fast. A shipper, frantic to find a truck, hooks up with a motor carrier on a load board. They agree to terms, and a truck is dispatched to pick up the load. The only problem is that truck isn't from the party that...
- NY-NJ ILA Members to Delay Retirements
Some New York-New Jersey dockworkers will delay their scheduled April 1 retirements in a stopgap move to ease a labor shortage at the port. The International Longshoremen's Association and the New York Shipping Association agreed to allow eligible workers to delay their retirements for up to seven months and collect their...
- License Threat Fails to Bring Drivers Back in Vancouver
A warning by the president of Port Metro Vancouver to striking truckers to report to work today or risk losing the license that allows them to perform harbor work did not have the desired effect. Most drivers did not work today. The port authority said truck traffic was 36 percent of...
|MARCH 21, 2014|
- Havyard slips in 2013
Norwegian IPO hopeful Havyard has reported a dip in earnings despite revenue jumping by around a third.
- New boss for Vinalines
Vietnam has appointed a new CEO of state shipowner Vinalines as it aims for an IPO.
- Greek capacity rises
Greece's tonnage capacity is continuing to rise despite a fall in total ship numbers.
- VLGCs top 2013 highs
VLGC rates have today passed last summer's peak after a strong run over the past three weeks.
- Bergen parts with more
Bergen Group has agreed to sell a larger share of its shipbuilding operations to Zaliv Shipyard in a deal which is expected to close within the next two weeks.
- Genmar denies double sale
General Maritime has dismissed reports it has cashed in a pair of suezmaxes to a Greek owner.
- Grupo TMM sheds some red
Mexico's Grupo TMM has reduced its loss for 2013 as revenue improved.
- Gas first for CNOOC
China's CNOOC has ordered Asia's first gas-powered tugs at the domestic Zhenjiang Shipyard.
- Suezmax on auction block
India has opened the bidding for a Pratibha Shipping suezmax arrested last year.
- Khanna targets Nasdaq
Pioneer Marine has pledged to continue to pursue an initial public offering (IPO) in the Big Apple following a $75m fundraiser that was met by a lukewarm reception in Oslo.
- Cargill in TMT pact
TradeWinds digests the digits making the headlines this week.
- MISC sheds logistics wing
Shares in Malaysia's MISC ended today on a high not seen since September 2011 as it continued with its strategy of selling off non-core assets.
- ORIG prices at par
George Economou's Ocean Rig (ORIG) has priced its $500m notes offering at 100% par as it looks to refinance other debt.
- Mercator seals VLGC deal
India's Mercator has confirmed the acquisition of a 1992-built VLGC from loss-making compatriot Varun Shipping.
- Quintana back at Sasebo
Greek owner Quintana Shipping has returned to Japan's Sasebo Heavy Industries for a third post panamax bulk carrier.
- Avance sights $100m
Avance Gas is looking to add $100m to its war chest from its initial public offering (IPO) in Oslo.
- Havila hauls in loan
Norway's Havila Shipping is refinancing maturing notes with a new loan worth NOK 450m ($74.07m).
- Blow for Eurotunnel
Eurotunnel's MyFerryLink ro-pax operation looks likely to be banned from Dover after the UK Competition Commission (CC) ruled it did have jurisdiction over a probe into cross-Channel operations.
- Owner pays Meem creditors
A protracted court battle over an arrested vessel involving the world's leading cash buyer, Global Marketing Systems (GMS), has taken a new twist - with the ship's original owner agreeing to settle unpaid dues to creditors.
- Red Sea revamp
France's CMA CGM Group is launching a new Asia to Red Sea run.
- Siva hands trio to Navig8
Siva Shipping of Singapore has pledged three chemical tankers to Navig8's expanding Stainless 8 pool.
- Die hard
We take a look at what was said in the market over the past week.
- MLL and Rickmers split
Maersk Line Limited (MLL) and Rickmers-Linie (Americas) have ended their joint venture in the US-flag heavylift market.
- Gunvor in the clear
Gennady Timchenko has sold his stake in Gunvor in a bid to avoid any fallout for the company from sanctions against Russia.
- FMC green lights P3
US authorities have approved the liner alliance between Maersk Line, CMA-CGM and Mediterranean Shipping Co.
- EGLE on the clock
US operator Eagle Bulk Shipping has been given more time to restructure debt that has fallen into the hands of hedge funds and private equity firms like Oaktree Capital.
|MARCH 21, 2014|
- FMC allows P3 Network to move forward
- Report: Air cargo growth halved by switch to ocean
Shippers choosing ocean transport for cargo previously carried by aircraft has cost the air cargo sector almost 2 percentage points of annual growth since 2000, according to research by Seabury Group and the International Air Transport Association.
- Amber Road goes public on NYSE
The global trade management solutions provider Amber Road went public on the New York Stock Exchange on Friday, offering 20,948,384 shares of common stock in its initial public offering.
- U.S., Philippines seek bilateral trade improvements
The United States and the Philippines have agreed to a program of expanded engagement in coming months on bilateral, regional and multilateral issues after a two-day meeting Thursday under the Trade and Investment Framework Agreement.
- Cathay starts freighter service to Columbus
- Weekly GRI roundup
Check out our list of general rate increases that were announced this week, including changes from COSCO, Hapag-Lloyd and Hamburg Sud. Also, get the facts on the latest Shangahi Container Freight Index.
|MARCH 21, 2014|
- Bunker prices up in Houston
Tight low sulphur avails reported at the US Gulf port.
- Weekly Global Market Report
A weekly price roundup from bunkering hubs around the world.
- ICS backs CO2 reporting system over 'energy indexing'
Says efficiency indexing of ships has 'little global consensus'.
- Fujairah prices lack direction
Public holiday in South Africa.
- Markets close week firm in Europe
Some congestion in Gibraltar.
- Bunker alerts were on the increase in 2013
Testing agency official points to 'the consequences of blending'.
- Shell gas-barges: 'Policy letter' needed from USCG
But oil major's plans remain on track.
- New MD at Bomin
Move brings Bomin and OMB closer together.
- Bunker operations to be included in port upgrade
East Malaysian port focuses on improving services.
- Mass flow meters could drive up bunker costs
Singapore forum hears sales volumes could suffer.
- Asian bunker market strengthening
Meanwhile, Tokyo Bay remained closed for a holiday.
- New Management Assistant at Dan-Bunkering
Tina Bild Carr joins the firm's Middelfart office.
- UN states banned from bunkering 'designated vessels'
Security Council issues sanctions against 'illicit' Libyan oil exports.
- Seaspan: First SAVER vessel an 'important milestone'
Firm has received the Hanjin Buddha from a Chinese shipyard.
- US refiner boosts low sulphur bunker supplies
Sees demand prospects on the Great Lakes.