|AUGUST 27, 2014|
- Suez Canal revenue up 8.6pc to US$482.2 million in July
- Normal port operations at Ningbo resume after violent truckers' strike
- Zim narrows net loss 123pc to US$67 million in second quarter
- APM Terminals Virginia sale done, Maersk unit exits as non-operating lessor
- Hamburg, St Petersberg port people co-operate as much as they can
- Kenya's government seeks to privatise berths 20 and 21 at Port of Mombasa
- Insurers say they lack experience pricing insurance risk in Arctic shipping
- Two NZ students win FedEx business entrepreneurship contest
- Moscow food cops hit McDonald's, shut 4 McD's, including world's biggest
- Tel Aviv air freight carrier CAL Cargo adds freighter to its fleet
- Emirates SkyCargo launches weekly freighter flight to Basel to tap pharma
- US Consumer Product Safety Commission seeks Indian fines for packaging
|AUGUST 26, 2014|
- Asia-US container lines recommend further freight increase from Sept.
- Concerned dept should stick to time prescribed in Citizen Charter, says KPCHAA
- Logistics in transition: Global growth driven by e-commerce, intra-regional supply chains & trend towards niche offerings
- Maersk Line remains leading carrier on reliability in Q2
- Reefer box capacity forecast to grow 22 pc over next five years
- Traders import onion from Egypt to stabilise prices
- DP World invests in development of container terminal Trilogiport at Liège port
- Maheshwari Handling Agency achieves another record at Kandla Port
- Export bodies oppose pruning of promotion schemes
- Export target of $ 350 bn achievable, says Fieo
- Hindujas to the rescue of stalled infra projects
- June industrial growth slumps to 3.4 pc
- IFFCO Kandla celebrates 68th Independence Day
- PM's date with JNPT
|AUGUST 27, 2014|
- SGKV launches pan-European intermodal map
- Noerpel takes Ascherl on board
- New railway links up and running in Kazakhstan
- Hamburg ready for ULVCs
- Railway cranes on high seas to China
- Rwanda is East Africa's top logistics performer
- Oman Railway Company issues Sohar-Buraimi tender
- 30,000th trailer for PNO in Denmark
- NTSB reconsiders statuses in crash investigation
- Innovative container producer earns Swiss quality label
- Prominent shipowner acquires simulator and instructor...
- AA Cargo: new pharmaceuticals facility in Philadelphia
- HR manager joins ACS board
|AUGUST 26, 2014|
- Webb Institute names Crowley scholarship recipients
- Ulstein introduces the X-Stern
- ABS opens Beijing office
- Strategic introduces Gen 3 crew transfer vessel
- Wärtsilä refines its LNG fuel handling technology
- BAE San Diego wins $78 million CG 70 contract
|AUGUST 26, 2014|
- Matson Navigation Company earns Quest for Quality top carrier honor
- VT Halter Marine delivers ConRo vessel to Pasha Hawaii
- FRA grants will help develop railroad short line safety institute
- Crowley tug/barge help launch new Navy Littoral Combat Ship
- Kinder Morgan nets FTC nod for Energy Partners acquisition
|AUGUST 26, 2014|
- The market is unfazed as Golar LNG posts a net loss
The company pledges to retain its focus despite a drop in LNG rates
- Piraeus claims 40% improvement in box-handling productivity
But the state-owned PPA terminal lags behind the Cosco operation next door
- US mergers and acquisitions return to mid-2000s high
Expect more deals in the coming months, says Drewry
- Ebola outbreak disrupts shipping schedules
Vessels calling in disease-hit countries are being turned away from unaffected areas
- Skou wins plaudits from industry peers
Maersk turnround reflects rigid focus on costs and efficient ship operations
- No freight rate recovery for years to come, warns Skou
Maersk Line boss says strategy remains focused on cost-cutting as prices continue to drift lower
- Cosco Pacific eyes further expansion in China and other countries
Port unit of Cosco Group looks for long-term investments in emerging markets
- Shipping weighs up the risks of ebola
West Africa timecharters should cover all possible bases, says Stephenson Harwood
- DP World takes control of Liège container terminal
Emirati operator acquires Euroports' stake in Belgium's new trimodal venture
- CIMC profits jump, but container earnings sag
Largest box manufacturer posts 88% first-half gain on better non-box segment results and a tax break
- Zim narrows its second-quarter losses to $67m
Israel-based line reports lower revenues after cutting loss-making services
- Capesize sales highlight breakers' price gap
Demolition rates in the Indian subcontinent beat Chinese offers despite volatile sentiment
- Capital Product wins shareholder support for incentive distribution rejig
UPDATED: Backing paves way for five-ship expansion
|AUGUST 26, 2014|
- Retailers push for US docker pact
US West Coast ports could suffer if negotiations between dockworkers and boxship terminal operators drag on, warns a US retailers' group. In a letter on 25 August, Retail Industry Leaders Association (RILA) President Sandra Kennedy urged that a long-term contract be secured "in the immediate
- Deltamarin sets up EPC offshoot
Deltamarin, the Finland-based naval architecture and engineering group, has established a subsidiary to extend its services into engineering, procurement, and construction (EPC). "In order to serve customers better, the new company, Deltamarin Floating Construction, will focus on delivering
- Eitzen Chemical predicts gradual rebound
Eitzen Chemical, the listed Norwegian chemical carrier group, forecasts a recovery in its market despite suffering wider losses in the first two quarters of this year. In the second quarter, the group's net loss reached $24.8M, up from $24.4M in the same quarter last year, as revenue slipped to
- ABS opens Beijing office
ABS today announced the opening of an office in Beijing. The new office will focus on expanding ABS's collaboration with local enterprises, universities, and research organisations, said the classification society. "Our Beijing office will be central to our operations as we seek to expand our
- Otto Marine orders 4 PSVs from Wuchang
Otto Marine has signed contracts with China's Wuchang Shipbuilding Industry for building four platform supply vessels (PSVs) with the option of another four. The Singapore-listed offshore marine service provider is expected to receive the four 4,000dwt newbuildings in 2016 Based on designs from
- Suria earnings rise on port operations
Suria Capital Holdings reported first-half earnings up 14% year on year to MYR139.8M ($44.2M). However, the Malaysia-listed port operator's second-quarter profit slipped 2% year on year to MYR15.9M, despite revenue for the quarter rising 8% to MYR68.3M. Port operations - largely based in Sabah on
- Indian ship recycling prices bounce back
Ship recycling prices, which fell steeply in India two weeks ago, made a remarkable recovery last week as steel prices rebounded. The Indian rupee also inched up from INR61 to INR60 to the dollar. As a result, average prices rose by $5/lt ldt to $455/lt ldt for bulkers and $485/lt ldt for tankers.
- CSSC to acquire or rent RSHI's yards
Shanghai-listed China CSSC Holdings (CSSC) seeks to acquire or rent shipyards and facilities from Rongsheng Heavy Industries (RSHI), and not to acquire RSHI, according to local media. CSSC is to co-operate with RSHI, according to a source from Shanghai Waigaoqiao Shipyard. "There is no possibility
- COSCO Pacific profits down 74% y/y in 1H14
COSCO Pacific, the terminal operating unit of Cosco Group, said its profits fell 74% year on year to $146.8M due to lack of one-off gains from disposal of a subsidiary last year. Excluding the one-off items, COSCO Pacific's profits rose 2% y/y to $146.8M on container throughput increase, a stock
- Crew saved from sinking ship off Tianjin Port
Twenty-two crew members on board a containership were rescued yesterday after it collided with another container ship off Tianjin Port. At about 11am local time yesterday, 500teu Tao Yuan collided with 3,500teu Gang Tai Tai Zhou at about 10 nm east of Dagukou Anchorage off Tianjin Port. The Beihai
- Ships detained near Pengerang, Malaysia
A marine gas oil tanker was detained by the Malaysian Maritime Enforcement Agency (MMEA) for anchoring in an unauthorised area in Pengerang waters in the state of Johor. MMEA spotted the Mongolian-registered vessel was anchoring at 2.4 n miles southeast of Tanjung Ramunia at around 18.00 hours on
- Vessels seized over illegal fuel transfer
The Malaysian Maritime Enforcement Agency (MMEA) has seized two vessels and detained the crew over an illegal fuel transfer off Muka Head, Malaysia. MT Moresby 9 and MT Victory Star were transferring 50,000 litres of diesel on 19 August near Georgetown in northwestern Malaysia when enforcement
- China coastal shipping capacity shrinks
China had 1,698 bulk carriers, 143 box ships and 1,401 tankers involved in coastal shipping as of June 30, reduced by 29, 21 and 12 vessels, respectively, from the end of 2013, announced the Ministry of Transport yesterday. Bulk shipping capacity saw the first drop in recent years, decreased by
- VLGC rates maintain flat-to-firm range
Freight rates to haul LPG on very large gas carriers continue to soften but remain above $100/tonne. As of yesterday, the Baltic Exchange assessed the rate for the benchmark Gulf-Far East route at $103.857/tonne, down from $104.286/tonne a week ago. At current bunker prices in Fujairah, UAE, that
- China imported 35% less Indonesian coal in July
China imported less coal from Indonesia in July, marking the second consecutive month of lower year-on-year imports. China imported 4.7M tonnes of Indonesian coal in July, down 35% y/y. Imports were also lower than the 5.1M tonnes imported in June. Shipments from Indonesia to China in the year to
- Otto Marine wins contracts worth $53M
Singapore-listed offshore marine service provider, Otto Marine has clinched time charter contracts with two oil majors for its deepwater anchor handlers, GO Sirius and GO Spica, worth AUD57M ($53M). Both vessels will be deployed in Australian waters and operated by Otto Marine's wholly owned
- CIMC profits up 88% y/y in 1H14
Hong Kong and Shenzhen-listed China International Marine Containers (CIMC) today said its profits rose 88% year on year to CNY1Bn ($162.5M) on the profits incurred by its offshore sector and reversal of withholding tax. CIMC's revenues also rose 12% y/y to CNY32Bn in the first half in 2014, a stock
|AUGUST 26, 2014|
- CN to end intermodal service to Auburn, Maine
Canadian National Railway announced that it will discontinue intermodal service to a rail hub at Auburn, Maine, effective Nov. 15, due to insufficient freight volume. The 35-acre terminal, which originally opened 20 years ago, was heralded as a Northeast intermodal gateway for trans-Pacific cargo moving through ports on the Canadian West Coast,...
- Shippers send more freight to 3PLs as US transport capacity tightens
An increase in U.S. manufacturing activity and imports is driving business to third-party logistics companies as shippers turn to 3PLs for freight capacity on highways and rails. Total shipments handled by 3PLs surveyed by the Transportation Intermediaries Association rose 7.2 percent year-over-year in the second quarter, and jumped 8 percent from...
- Carriers' logistics strategy 'unraveling,' Alphaliner says
Carriers' strategy to bundle logistics services with container shipping services appears to be "unraveling," according to Alphaliner's latest newsletter. Damco, the logistics arm of Maersk Group, reported a third consecutive quarter of operating losses last week, and said it expects to end the year in red after grappling with a restructuring effort...
- ILWU ratifies four-year grain contract
The International Longshore and Warehouse Union ratified a new collective bargaining agreement with grain handlers in the Pacific Northwest, spelling the end to an embittered, two-year battle between the two parties and allowing the union to focus on still-unresolved coastwide container talks. The Federal Mediation and Conciliation Service announced that a...
- Building on 3D printing
I wrote about the newly emerging technology of "additive manufacturing" this time last year ("Manufacturing's Next Revolution") and the envisioned impact it would have on global supply chains. To recap, additive manufacturing, also referred to as 3D printing, builds an article from the ground up by literally adding layers of...
- US shippers face long delays at Prince Rupert port
U.S. shippers are finding that hedging their bets against possible U.S. West Coast port disruptions by shipping cargo through the Port of Prince Rupert comes with a catch: long delays before imports can be loaded onto the rails. Shippers using the Canadian west coast port were seeing delays on average of...
- CSAV revamps India-Europe loops
Export container volumes from the Indian Subcontinent and the Middle East to Europe were up year-over-year throughout the first half of 2014. Full-size chart CSAV has announced plans to introduce a new weekly service, the IMEX Sling 1, connecting the Indian subcontinent, the Middle East and North Europe, starting in late October. As...
- Alabama port buys land for expansion
Aerial photo of Port of Mobile showing land Alabama is acquiring for expansion. The Alabama State Port Authority has paid $25 million to acquire a 35-acre dockside tract for future expansion of Mobile's container terminal and a 63-acre industrial site a half-mile from the harbor. Both properties are adjacent to the port's...
- Cosco Pacific terminals report surge in first-half volume
HONG KONG - Robust container throughput in the first half drove up Cosco Pacific terminal revenue by 18.9 percent as strengthening trade saw a total of 32.48 million 20-foot containers crossing the state-owned group's wharves. The 10.1 percent rise in volume helped all its terminals record revenue growth in the first half,...
- No swift decision by US in 53-foot box subsidy probe, says CIMC
HONG KONG - The world's largest container manufacturer, China International Marine Containers (CIMC), does not expect the U.S. government's antidumping and countervailing duty investigation to be resolved before May next year. CIMC and the world's number two box maker, Singamas, are facing an ongoing investigation by the U.S. International Trade Commission over...
- Middle East-based feeder line to begin Tuticorin-Colombo service
Middle East-based Simatech Shipping has announced the launch of a fortnightly feeder service linking Dakshin Bharat Gateway Terminal, a new private facility in India's Port of Tuticorin (V.O. Chidambaranar), with Colombo, Sri Lanka, starting this month. "Simatech will thus be able to connect Tuticorin exports and imports at Colombo where it...
|AUGUST 26, 2014|
- Salvage effort continues
A leading Hellenic salvage contractor has firmed up a deal to refloat a bulker that ran aground off the Greek island of Oinousses late last week.
- SALT torpedoes rumours
Scorpio Bulkers is pouring cold water on reports that it has inked a contract to construct another series of kamsarmax bulkers at a shipyard in China.
- Petrobras takes AHTS
A leading offshore contractor has lined up a lengthy time charter for one of its anchor-handlers.
- Bocimar torches orders
Bocimar has pulled the plug on four handysize bulkers under construction at Weihai Samjin Shipyard in China.
- Cape for Cargill
Cargill has added a Chinese-owned capesize bulker to its chartered fleet, brokers say.
- GLNG delivers
Golar LNG turned in a second quarter loss Tuesday but the results were in line with Wall Street forecasts.
- Dorian ship detained
Issues with safety equipment contributed to the detention of a Dorian LPG-owned ship in the UK.
- Takeover talk returns
A potential merger between Knightsbridge Tankers and Golden Ocean will again be in focus tomorrow as the Oslo-listed bulker owner issues its second quarter report.
- Topaz makes less
Offshore shipping company books smaller profit in the second quarter of 2014.
- Fund cuts Clarksons stake
One of the largest investors in Clarksons has sold some of its shares in the giant shipbroker.
- Reach books profit
Oslo-listed Reach Subsea has recorded a profit for the second quarter of 2014 thanks to high utilisation of its fleet.
- Kogas tender drives stocks
Battered South Korean shipyard shares received a boost today as Korea Gas Corp (Kogas) released a long awaited tender for six LNG carriers.
- HHI orders slump
Major shipbuilder Hyundai Heavy Industries (HHI) has seen its orders fall between January and July, aligning with the company's second quarter loss and share drop.
- Bond question back
Attention is again focused on how Frontline will tackle a convertible bond repayment as the tanker owner prepares to report its second quarter accounts.
- GE ships out tanker
India's Great Eastern Shipping is selling its oldest tanker for scrap.
- Cosco Pacific better
Cosco Pacific has recorded a rise in underlying first half profit aided by higher volumes.
- Eitzen comes up short
Eitzen Chemical has reported a disappointing second quarter with figures coming in well below analysts' estimates.
- Backlog reaches $3bn
Pacific Drilling has taken its contract backlog to $3bn following a contract extension with Chevron for one of its drillships.
- Otto orders at Wuchang
Singapore's Otto Marine has ordered up to eight PSVs at China's Wuchang Shipbuilding Industry, it has been confirmed.
- Otto ties up two
Otto Marine has tied up two of its anchor handlers on time charters with two oil majors in deals worth AUD 57m ($53m).
|AUGUST 26, 2014|
- NEWS FLASH: ILWU reaches deal with Pacific Northwest Grain Handlers
The agreement with the Pacific Northwest Grain Handlers Association ends a lockout at Portland's Columbia Grain and Vancouver, Wash.'s United Grain facilities that had been going on for more than a year.
- Port of Portland takes reefer work away from ILWU
In a letter to the president of Local 8 of the dockworkers' union in Portland, Bill Wyatt, executive director of the Port of Portland, said the port authority had made the decision because of poor productivity at its Terminal 6 container facility.
- Maersk sells U.S. headquarters, moves
"We are satisfied with the outcome of the sale of the Giralda Farms building and have recently moved into modern, newly renovated offices and maintained our connection to the Morris County area of New Jersey," said Maersk spokesman Tim Simpson.
- APM Terminals completes sale of Virginia Terminals
The company said the sale of its terminal in Portsmouth, Va., has been concluded with a partnership comprised of affiliates of investment funds managed by Alinda Capital Partners and Universities Superannuation Scheme (USS).
- George W. Pasha III, import autombile pioneer, dies
The 79-year-old chairman and former chief executive of the Pasha Group died last week in Lake Tahoe, Calif. The company has operated a ro/ro vessel in the U.S. mainland-Hawaii trade for years, in addition to offering an array of other services.
- Alabama port authority buys industrial properties
- ABS opens new Beijing office
- RILA urges ILWU and employers to reach contract deal
- Truck groups want restricted CSA data access
- U.S. supports wind power export loans to Peru
- Yusen Logistics offers transatlantic LCL service
- Washington Notebook: NTSB kicks out UPS, union from crash investigation
|AUGUST 26, 2014|
- BIMCO surveys shipowners on biofouling management
Ship managers and operators also asked to take part.
- Denmark in push to strengthen ECA sulphur checks
Danish shipping companies said to be losing market share to those that are not signalling ECA-related cost increases.
- Avails tight in Rotterdam
Fuel oil avails said to be tight in Istanbul.
- Fujairah sees weak demand
Distillate prices soft in Durban and Cape Town.
- Study examines 'well-to-hull' emissions of ECA fuel alternatives
Finds in favour of LNG on both air quality and GHG emissions when compared with conventional marine fuels.
- Tanker detained in Singapore
Ship's manager cited in earlier arrest.
- Asian IFO rates trading in flat range
Most key ports saw average to above-above demand on Tuesday.
- Wartsila upgrades LNG fuel-handling system
Product will be at Norwegian trade show this week.
- Glenn Marine offloads Singapore-based shipyard
Facility incurred debts and liabilities worth $4.96 million.
- Kuwait adds 'eco' VLCC to fleet
Vessel features energy-saving engines capable of running on low sulphur fuels.
- Bunker-saving device makes market debut
Technology promises 'significant' fuel savings.
- Singapore-based firm orders fuel efficient PSVs
Vessels feature the X-Bow hull line design, says ship design firm.
- Volatile IFO prices in Cartagena
Good avails reported at the Colombian port.