|JULY 25, 2014|
- CMA CGM alters Asia-Africa rotations, affecting ASAF, WAF strings
- Panama locks 'too small for tugs to keep big ships safe in high winds'
- France's new law banning truckers from sleeping in cabs hits sour note
- Costamare says all's well as profit falls 17pc, but revenue rises 24pc
- China Shipping Container Line borrows US$430 million to build liquidity
- Peter Quantrill steps down as BIFA chief, Robert Keen accepts post
- 8,508-TEU Ever Loading 26th in fleet named Kaohsiung shipyard
- Quintiq wins best supply chain technology award at Singapore gala
- Singapore's PSA signs US$2 million education deal with local college
- South Carolina ports annual box volume up 8pc to 1.68 million TEU
- Transfer of gates to Panama Canal's new Atlantic locks complex
- Canadian port authorities meet in New Brunswick from August 17-21
- Changi's air freight flat in June, passenger volume down marginally
- Air Cargo Germany resuscitated and relaunched as Air Cargo Global
- Yusen Logistics concludes multilateral e-AWB agreement with IATA
- Worldwide Flight Services to ground handle for Air France at Orly
- HAFFA supports 3rd runway for Hong Kong, but wants more eco data
|JULY 24, 2014|
- Calcutta Freight Brokers Association holds 76th AGM
- Shippers & freight forwarders to debate intelligent logistics at intermodal event
- Anti-dumping duty likely on solar cell imports
- EU curbs on chromium may hit leather exports
- Adani Hazira Port handles first export container movement from Pithampur SEZ
- CBI starts investigation into alleged KoPT scam
- Committee working on streamlining cargo handling operations at Major Ports
- Essar Ports' Vizag terminal to commence operations next quarter
- Gujarat Maritime Board's roadshow on investment opportunities today
- Civil Aviation Ministry focusing on developing air freight stations
- CONCOR gets coveted Navratna status
- INR 1.80 lakh cr. stuck in road projects: Gadkari
- Govt looking at improving PPP model to boost infra
- India to pursue steel import duty row with US
- India, US chalk out plans for trade policy forum meet
- Democratise exports
|JULY 24, 2014|
- Southern Towing opts for MTU power
- Mitsui to supply ME-GI engines for Crowley ConRo duo
- USCG options more cutters from Bollinger Shipyards
- Wärtsilä sheds shares in Chinese two-stroke manufacturer
- Brian Hall joins Bouchard Transportation
|JULY 24, 2014|
- South Shore Trade Area upgrades celebrated by Government of Canada
- Port Angeles Port Commission rolls back rates at two marinas
- Customs and Border Protection set to hire 2,000 new officers
- DOT releases new rules proposal for rail transport of flammable materials
- Coast Guard eyes shutting down Tillamook Bay Whistle Buoy
|JULY 24, 2014|
- Emerging economies boost Barcelona box traffic
Port notes double-digit growth in trade with Colombia, Thailand and Bangladesh
- Navig8 leads this year's race to book tanker newbuildings
Firm has beaten Petrobras, Mitsui OSK and Nordic Tankers in placing new orders
- Better demand at home, in Asia and in Europe boosts DP World volumes
Container traffic rises 11% to 29m teu in first-half of the year leaving port operator bullish on trade forecasts
- Yard Talk | A new Lloyd's List shipbuilding column
Hopes are dashed as South Korea's Big Three builders find offshore a challenge too far
- Containers weekly analysis: Inactive fleet declines
Peak season continues to drive demand for extra tonnage
- Containers Data Hub: Asia-South America Trade Route Intelligence
Investment is still needed in South American ports to handle larger boxships
- Tanker hijackings are a growing menace in Southeast Asia
Piracy watchdog says the region has bucked a drop in global attacks with six recent incidents
- Crude tankers win time charters as market focuses on floating storage
Charterers can store oil then sell it for a higher price at a future date
- TAL sees leasing revenues increase but income slides
Increased demand offset by lower lease rates and sale prices
- Essar Ports posts 9% fall in second-quarter profits
Rise in revenues marginal, but port operator expects volumes to grow as expansion rolls out
- Costamare beats expectations for second-quarter earnings
Secondhand acquisition chartered to Cosco
- Samudera back in profit as costs fall
Box and tanker owner sees container volumes grow on utilisation of better routes
- What's behind Fortescue's VLOC play?
FMG isn't building a bulker empire, but it has found a durable reason for owning these giant ships
|JULY 24, 2014|
- Royal Caribbean raises profit targets
Royal Caribbean has reported better than expected results and raised its guidance on full-year profits - which it hopes to double by 2017. The cruise line posted net income of $137.7M for 2Q14 versus $24.7M in 2Q13. Excluding special items, adjusted net income was $146.7M in the most recent period,
- BW Offshore buys out FPSO partner
BW Offshore, has acquired full control of the 1975-built floating production and storage offshore (FPSO) tanker Petroleo Nautipa for $49.3M, plus $10M in working capital in the company that owns the unit. The Oslo-listed global provider of floating production services to the oil and gas industries
- Eastern wins Harvey MPFSV order
Eastern Shipbuilding Group of Panama City, Florida, has a contract for a multipurpose field support vessel (MPFSV) from New Orleans shipowner Harvey Gulf International Marine. The newbuilding will be a new RAmpage 6400 hybrid design with an overall length of 64.6m, beam 18m, and depth 8m, with
- Frontline ends charters of 15-year-old VLCCs
Frontline, the listed VLCC and Suezmax operator in John Fredriksen's business empire, says it has terminated charters of three 1999-built VLCC tankers. The company has agreed with Ship Finance International to terminate the long-term charterparties for Front Opalia, Front Comanche, and Front
- IMB warns of threat to small tankers
Concerns about increasing hijackings of small coastal tankers for their cargoes in Southeast Asian waters have been raised by the International Maritime Bureau Piracy Reporting Centre. In its 2Q14 report, released today, the centre noted at least six known cases of this type of hijack since April
- Cash flows to Philippines port operator
International Container Terminal Services (ICTSI) of Philippines has used a novel structure for attracting investment to create a $350M syndicated revolving credit facility. This, the company says, will allow it flexibility for strategic investments and acquisitions. Originally launched at $250M,
- Tanker operator optimistic despite loss
Antwerp tanker operator Euronav remains upbeat about prospects for the crude tanker market despite making a $22.58M loss in 2Q14. It had delivered a $1.37M profit in 1Q14. The company said its latest preliminary results had been affected by a $9.3M amortisation of expenses connected with the
- Corsican boat protest meets Costa Concordia
Corsicans protesting about the pollution risk posed by Costa Concordia are sending a flotilla of small boats to shadow the wreck as it passes their coast. However, no attempt will be made to disrupt the passage of Costa Concordia and its convoy, 25km off the coast of the French island of Corsica,
- Singapore LNG imports soar
Singapore's LNG imports more than doubled in 1H14. IHS Maritime Market Intelligence Network vessel-tracking data showed 1,546,539m³ of LNG was delivered to the city-state in 1H14, based on vessels chartered by BG Group, the appointed aggregator of LNG there. This comes as Singapore continues to
- Cowes breakwater moves to phase three
A coastal protection project at Cowes, on the Isle of Wight, UK, has completed its second stage. Dutch dredging contractor Boskalis has installed an initial 1.5m layer of sand and gravel along Cowes Harbour's new outer breakwater and is beginning phase three of the 18-month project. Work on the 350m
- More cruises pulled from Israel
Costa is the latest cruise company to temporarily pull calls from Israel as a result of the armed conflict in Gaza. In a statement on 24 July, Costa reported that calls in Ashdod and Haifa by the Costa Pacifica and Costa Deliziosa from September through November would be replaced by calls in Turkey
- Ezion remains as top pick, doubts hang over Vard
Singapore-listed Ezion Holdings is the top pick in offshore and marine sector for its strong, locked-in earnings growth, said Lee Yue Jer, investment analyst at DMG & Partners Securities. Lee has set the target price of SGD3.00 ($2.42) per share for Ezion, while the company currently trades around
- China and Cuba ink deals on port and nickel ore
China and Cuba signed 29 co-operation agreements on Tuesday during Chinese president Xi Jinping's visit to Cuba, including one deal on port construction and another on nickel ore. China's Bank of Import and Export signed an agreement with Cuba's Santiago Port, second-largest port in Cuba, to loan
- S Korean big three to see more commercial orders
For Korea's big three shipbuilders - Hyundai HI (HHI), Samsung HI (SHI) and Daewoo Shipbuilding & Marine Engineering (DSME) - commercial ship orders should increase 13% year on year and partly offset the 30% drop in offshore vessel orders, said analysts. True Friend Korea Investment & Securities'
- Seventeen crew rescued after storm
A total of 17 crew members onboard a general cargo ship were rescued early today after the ship ran aground off Fujian province, China, due to Typhoon Matmo. By 07.00 local time today, 17 crew members onboard the 1982-built 14,398dwt Tuvalu-flagged Ana were rescued without serious injuries, the
- N-KOM wins contracts worth $128.9M
Nakilat-Keppel Offshore & Marine (N-KOM) and Singapore-headquartered Keppel Offshore & Marine have secured a contract worth QAR69M ($18.9M) to design and construct a floating jetty for Qatar Primary Materials Company (QPMC). The floating jetty is the first project that N-KOM, a joint venture
- Daehan Shipbuilding to repay its debts early
Seoul Central District Court announced on Tuesday that it has allowed Daehan Shipbuilding, a South Korean mid-sized shipbuilder, to pay off debts early to its existing customers. The shipbuilder has been in receivership since 7 July. Usually, if a company goes into a receivership, it cannot repay
- Chinese deals fail to affect Valemax berthing
Vale's recent three deals with China does not mean that its mega ships can call at Chinese ports, China's largest shipowner, COSCO, stated earlier this week. The shipowner is not clear about the details of the three deals, but it is quite sure that they have no relation to the calling of Valemaxes
- Samudera swings into profit in 2Q14
Singapore-listed container line, Samudera Shipping Line, rebounded to profit in 2Q14. The company recorded a profit of $4.28M in the second quarter ending 30 June, compared to a loss of $3.59M in the same period last year. However, Samudera registered a drop in revenue of $96.9M in 2Q14, a 7.6%
- Changhang Phoenix continues restructuring
Changhang Phoenix, a listed bulk carrier-operating unit of Sinotrans & CSC, is pushing ahead with its restructuring plan by increasing its share capital by 50% to repay debts and improve its operation capabilities. The company will use its capital reserves to boost the share capital by 50% to 1Bn
- Swissco seeks synergy through takeover
Singapore-based offshore support vessel operator Swissco told IHS Maritime that it is seeking to expand into other areas by acquiring compatriot marine service provider Scott and English Energy. Swissco finalized its $230M acquisition of Scott and English Energy on 22 July. In an interview with IHS
|JULY 24, 2014|
- Norfolk Southern combating slow train speeds with hiring, investment
Second-quarter volume increases have hampered Norfolk Southern's ability to bring up train velocities after a cripplingly harsh winter. NS COO Mark Manion pointed to the train speed issue during the company's second-quarter earnings call yesterday. Norfolk Southern saw a volume increase of 8 percent in the second quarter - a volume...
- Stifel: Matson potential buyer of Horizon's Alaska service
A sale of Horizon Lines' Puerto Rico service could prompt the carrier to also sell its Alaska route, with Matson the most likely buyer, analysts at investment bank Stifel Nicolaus said in a research note. Horizon reportedly has been in discussions to sell its U.S. mainland-Puerto Rico service to competitor Crowley...
- What's still holding back rail service?
When rail service tanked last winter, a key culprit was easily visible. In the center of the polar vortex, the intermodal hub of Chicago was besieged by a never-ending series of bruising winter storms and frigid temperatures that hampered operations and drove the local railroads into the ground. But now...
- DP World's traffic surges in first half
DP World's container traffic increased 9.3 percent on a like-for-like basis in the first half of 2014 from the previous year to 29.4 million 20-foot-equivalent units, driven by strong growth at its terminals in the Asia-Pacific region, the Indian subcontinent, Europe and the United Arab Emirates. Total volume on a reported...
- At Landstar, freight market, truckload revenue shift from 'choppy' to 'strong'
Landstar's Henry Gerkens is among those rejecting the possibility of a big drop in freight demand as the third quarter winds down. The freight trends the chairman and CEO of the fifth-largest U.S. truckload carrier is seeing point toward a strong second half this year. "I believe the current operating environment...
- Superior shippers understand carrier needs - Transplace survey
As trucking companies strive to improve efficiency and streamline operations, shippers that actively help motor carriers improve productivity and profitability are the most desirable business partners, according to a new survey by Transplace. Results from the third-party logistics provider's Preferred Shipper Program Survey showed that factors that influence motor carriers' finances,...
- FMC proposes change in OTI public notices
The Federal Maritime Commission is seeking authority to use its website instead of the Federal Register to provide public notice when it revokes or suspends the licenses of ocean transportation intermediaries. The FMC said the Administrative Procedure Act and Freedom of Information Act don't require Federal Register notice, and that posting...
- Air cargo executives expecting good year
Airline CFOs and heads of cargo are broadly positive about the outlook for the air freight industry and expect profitability to improve, according to IATA's latest quarterly business confidence. The optimistic responses from cargo executives reflected recent developments in the demand environment. Respondents reported growth in air freight volumes over recent...
- Trucking numbers point to stronger US freight recovery
The U.S. economic recovery may be slow, but the freight recovery is moving faster. Rising freight demand is clear in the second-quarter earnings reports from carriers such as Knight Transportation, Marten Transport, Heartland Express and Werner Enterprises. Knight Transportation increased total revenue 7.9 percent year-over-year to $264.2 million, while truckload revenue, excluding...
- Strong Malaysia trade drives Westports' growth
Malaysia's Westports Holdings turned in an impressive first-half performance, with throughput rising 13 percent year-over-year and strong growth across all trade lanes. The port operator handled 4.02 million 20-foot containers between January and June, with the growth led by transshipment containers, whose throughput grew by 14 percent, Westports announced. Intra-Asia trade was...
- CMA CGM reshuffles two Asia-West Africa services
CMA CGM said it will reorganize the rotations of its ASAF and WAX lines to improve service between Asia and West Africa. The carrier will add two more North China port calls (Xingang and Qingdao) to its ASAF service, a weekly line dedicated to Angola, Congo and Namibia. The port rotation...
- Nhava Sheva ship agents worry about rising cargo backlog
Ship agents at India's Port of Jawaharlal Nehru (Nhava Sheva) have expressed concern over a lack of effective measures by state-owned rail operator Container Corp. of India in clearing import backlogs that have reached "unprecedented" levels at the country's biggest box gateway. In a letter to Concor, the Mumbai-Nhava Sheva Ship...
|JULY 24, 2014|
- Double-Double's three prongs
Royal Caribbean Cruises' chief executive laid the path to the cruiseship giant's new "Double-Double" programme to aggressively boost earnings.
- Vale sees production surge
Vale, whose output fuels the Brazil-to-China capesize trade, posted the best second-quarter iron ore production totals in its history.
- Diamond drillship fixed
Murphy Oil has struck a $200m contract to take a Diamond Offshore Drilling newbuilding drillship for 265 days.
- Stemcor and Thomas settle
Dispute over severance pay revealed in this week's paper has been resolved.
- Getting closer
Ireland-based Ardmore Shipping has nearly completed the full financing of its fleet.
- Ardmore adds $53m
New York-listed Ardmore Shipping has borrowed another $53m to pay for three newly acquired tankers.
- SFI sells VLCC trio
John Fredriksen-linked Ship Finance International (SFI) has sold three veteran VLCCs due to the cost of their upcoming 15-year special surveys.
- Keppel keeps on
Singapore's Keppel Corp has pushed up second quarter profit as revenue improved.
- BWO in full control
Oslo-listed FPSO specialist takes full ownership of a unit operating off Gabon.
- Wartsila selling out
Finland's Wartsila is disposing of its holding in a Chinese two-stroke engine manufacturer.
- Small tankers in sights
A spate of attacks on small tankers off Southeast Asia has been highlighted as a worrying trend by the International Maritime Bureau (IMB) amid a downturn in global pirate activity.
- Trawler sinks in clash
Three crew have been rescued following a collision that sank a Japanese fishing vessel.
- Farstad flotilla fixed
Farstad Shipping has unveiled a string of contracts for its anchor-handlers and platform supply vessels running to over $280m.
- Typhoon grounds tanker
Four crew were taken off a tanker by helicopter after it grounded in a storm off Taiwan.
- LNG quartet raises $787m
Australia and New Zealand Banking Group (ANZ) and the Export-Import Bank of China (China Exim) have teamed up to lead a $787m financing deal for four new LNG carriers in China.
- ICTSI takes $350m
Philippines port operator ICTSI has fixed a new five-year loan worth $350m.
- DP World posts growth
Dubai's DP World handled 29.4m teu in the first half of 2014, up 9.3% year-year.
- Amakusa set for repairs
A Japanese bulker which went aground off Canada last week is due to undergo repairs near to where the casualty took place.
- Ezion sells Oz ops
Ezion Holdings is to sell its marine base and Australian vessel businesses to AusGroup for SGD 55m ($44m) in cash and shares.
- Harvey orders MPFSV
Harvey Gulf International Marine has ordered a hybrid multi-purpose field support vessel (MPFSV) newbuilding.
|JULY 24, 2014|
- Degnan elected as chairman of NY/NJ Port Authority
Degnan was nominated by New Jersey Gov. Chris Christie and confirmed by the New Jersey State Senate on July 10. Christie has been slammed for the role members of his administration had in the so-called "Bridgegate" scandal.
- ILWU, PMA resume talks, but break scheduled for next week
- Independent drivers file suit against FMCSA
- Hapag-Lloyd warns of West Coast congestion
In Vancouver, Canada, the carrier said that "an increase in volumes diverted away from U.S. West Coast, coupled with limited allocation in rail cars to U.S. corridors, has resulted in significant congestion and increased dwell times."
- $9.5 million authorized for New Jersey port road improvement
The project will improve access to the terminal gate complex and enhance the movement of new vehicles between BMW's processing facility and the vessel-berthing area. The road improvements are being funded by cargo facility charges.
- Jacksonville gets PORTS sensor array
- Costamare reports higher revenues as fleet grows
- Pirates target small tankers
- Qatar takes majority stake in UASC
- Roadrunner buys ISI for $13 million
- Philadelphia container volumes up 29% in first half of 2014
"As I commented this past spring when preliminary cargo figures began rolling in, we're really entering a great period here at the Port of Philadelphia," said Charles G. Kopp, chairman of the Philadelphia Regional Port Authority.
- New gantry cranes arrive at Port Freeport
- Cargolux adds 10th 747-8 freighter
- Pantos adds warehouse in Rotterdam
- Vanguard expands operations in Turkey
|JULY 24, 2014|
- Colombian supplier's monthly MGO fuel sales 'good so far'
Roughly 5,000 mt of product sold monthly, says C.I. International Fuels.
- ABS, MPA to collaborate on clean fuels R&D
MoU coverage to include research on LNG bunkering.
- Southeast Asia tanker hijackings 'a cause for concern'
Coastal tankers have suffered 'serious attacks'.
- Prices firm across Europe
Quiet market in Rotterdam.
- IFO prices firm in Fujairah
Tight avails in the Middle East hub.
- GAC boosts London office
Member of staff moving from Denmark to UK.
- Pollution levels trigger fresh calls for an ECA
Environmental group claims Hong Kong's air quality is at its worst in nearly a decade.
- Fuel oil inventory drops by 20%
Singapore's onshore stocks are at their lowest level in nearly five months.
- Wartsila sells stake in Chinese engine maker
'Move frees up resources and increases emphasis on accelerating development of new engines,' company says.
- Malta to grow its bunker sector
'Malta has a clear competitive advantage in terms of sea-based logistics,' says government official.
- New EU sanctions target Crimean ports
Ship operators could fall foul of national and international law.
- Bunker prices rising in Singapore, Hong Kong
Meanwhile, rates held steady at other key regional ports.
- Chinese players struggling with low demand
But 'teapot' refiners show renewed interest in 380 cSt material.
- Shipping group back to Q2 profit
Bottom line helped by lower bunker prices.
- Russian refiner posts jump in bunker output
MGO production was up 21-fold in Q2.