|JULY 28, 2014|
- OOCL quarterly revenue rises 6.8pc, but per box rate falls 4pc
- HPH Trust first half profit up 16pc to US$119.6 million, revenues up 2pc
- Reliability deteriorates as box carriers cut costs, keep rates low
- Hamburg Sud ups rate US$150/box from US to Mideast, India/Pakistan
- US truck tonnage index rises 2.3pc in June but not as fast as May
- Westports quarterly profit up 2pc as box throughput surging 14pc
- Bolder and more numerous pirate attacks haunt South China Seas
- Drewry and WACO forwarders expand air freight market cooperation
- Crowley claims location edge being next to Florida's new rail facility
- Agility to continue providing logistics services to Gastech
- Toll opens US$160.6 million express facility north west of Sydney
- Surge of 6pc in cargo volume at Hong Kong International Airport
- Delta quarterly profit rises 16.8pc to US$801 million, revenue up 9pc
- Air cargo trucker Forward Air profits up 24pc, revenues rise 21.3pc
|JULY 25, 2014|
- Hamburg Süd to acquire container liner activities of CCNI
- Transworld Group organises special music & dance programme to mark founder's anniversary
- Crude oil imports from Iran increase to 2,81,000 bpd in H1
- Rise in prices push cashew kernel exports: CEPCI
- DP World reports 9.3 pc volume growth in first half of 2014
- JSW Jaigarh Port & POSCO-ISDC commence steel coil handling at the port
- MbPT celebrates International Mangrove Day
- Pipavav Port's net profit more than doubles in Q2 2014
- Private ports in Gujarat better than Major Ports in land development: Aswani
- First rice consignment sent to Tripura via Bangladesh
- Banks stay away from funding ppp projects: Gadkari
- Forex reserves rise for seventh consecutive week
- INR ends marginally higher at 60.11
- Power projects worth INR 36,150 cr. crippled due to coal shortage, says Minister
- SEZs may have to export 51 pc of products: Govt
- A new transport solution for wind towers
- Abu Dhabi ports handling more break-bulk
- DB Schenker transports cylinder weighing 141 t from Berlin to Canada by ship, truck & plane
- Heavy concrete components handled at Florida University
|JULY 25, 2014|
- Salvage veteran back at Titan
- Gulf Island, Bechtel ink offshore project cooperation pact
- TSB Canada reports on fatal incident involving WWII era tug
- Coastal tanker hijackings continue
- HII gets $13.7 million mod to CVN 76 contract
- Crowley christens ocean class DP tugboat
|JULY 25, 2014|
- Vancouver freight access project listed among Washington's best
- Trade between NAFTA partners climbs during month of May
- US rail freight traffic rises during week
- Refloated COSTA CONCORDIA wreck heading to dismantling site in Genoa
- Study shows possible rail traffic jump for proposed Gateway Pacific Terminal
|JULY 25, 2014|
- Hamburg Süd to acquire CCNI
UPDATED: German carrier says deal will strengthen South American liner network
- Hamburg court rules for ER Schiffahrt in dispute with MPC
Further litigation likely in battle over sale of panamax fleet
- Suezmax hauls controversial cargo of Kurdish crude
Shipment angers Baghdad
- Bad reception on China state TV for 2M plans
Influential state broadcaster reports the alliance could mean price hikes for consumers and more challenges for carriers in China
- Iran shipping sanctions could go by year-end
The move would open the way for P&I and oil-cargo insurance
- Maersk plans August general rate increase as price push gathers pace
Shipping giant joins the growing list of lines planning a price hike from next week
- Box congestion in Europe creates surcharges and a scramble for staff
Hamburg, Rotterdam and Antwerp face container bottlenecks this month
- Panamax boxship charter rates show weekly decline
Recent optimism receding, says broker
- Mediterranean Shipping Co leads the race to expand boxship fleets
The top three lines pull away from the rest in the battle to increase capacity
- OOCL reports load factors up, revenues per teu down
Hong Kong shipping line's second-quarter volumes rise 11.2% to 1.5m teu
- Capital Maritime Partners boosts operating profits
Revenues climb due to bigger fleet as owner plots boxship and tanker additions
- DVB Bank study pours cold water on suezmax hopes
Report argues that despite the positives, real recovery will materialise only from 2017
- Hyundai Glovis reports six-month growth in net profit of 55%
Automotive and dry bulk growth boosts Seoul-listed logistics firm's earnings
- ICTSI secures $350m credit facility
Proceeds to be used for strategic investments and acquisitions, says Philippine operator
- Week on Wall Street | July 25
Scorpio's access to Kexim funding highlights a bifurcated financing market
- Samsung Heavy Industries back in the black
South Korean shipbuilder posts net profits of $201m but sales fall
- Suezmax earnings cool as West African chartering slows
Million-barrel crude tankers continue to secure respectable daily rates
- Panalpina volumes rise but profits slide
Swiss forwarder blames volatile rates and currency effects
- From P3 to 2M: a China story
Scaled-down ambition of Maersk and MSC means Beijing's rejection would be unprecedented, but not unthinkable
- Capesize market stalls despite lower iron ore prices feeding China demand
Brokers await a pronounced push in any basin amid new fears over excess capacity
- Guangzhou Shipyard extends trading suspension as plans unfold for restructuring
Parent China State Shipbuilding will inject military assets as GSI negotiates with a third party to buy new assets
- Capital Product buys five ships from its sponsor company
Deal worth $312m includes three boxships to be chartered by CMA CGM and two product tankers on charter to Capital Maritime and Trading
- Vale reports record iron ore production in second quarter
Better weather and production ramp-ups lead to output of 79.5m tonnes
|JULY 25, 2014|
- Finns try automatic visa check
A system to automatically process visa-holding passengers leaving and entering Helsinki's West Harbour terminal has begun a five-month trial. This is being carried out by the Finnish Border Guard and includes the operation of upgraded equipment and software. Large numbers of Russians disembark from
- GTT lands orders for Yamal LNG carriers
French LNG tank specialist GTT (Gaztransport & Technigas) is to supply its NO 96 membrane containment system for the world's first 10 icebreaking LNG carriers. The company received an initial one-ship order for the system from Sovcomflot in March. This has now been followed with a decision to use
- Jiangnan wins more Tianjin Southwest VLGCs
Jiangnan Shipyard Group in China has won an order for two more very large gas carriers (VLGCs) from returning compatriot shipowner Tianjin Southwest Maritime (TSM). Delivery of the two 83,000m³ vessels is scheduled for the end of 2016 and early 2017. They bring the owner's total on order at the yard
- Taizhou Sanfu secures chemical sisters
Chinese shipbuilder Taizhou Sanfu Ship Engineering has secured an order for two chemical tankers from a Singaporean owner. The 34,500dwt vessels will have an overall length of 180m, 30m beam, and depth of 15.4m. A delivery schedule was not revealed but estimates suggest the second half of 2016 is
- Longxue to build COSCOL heavy-lift
CSSC Huangpu Wenchong Shipbuilding has received an order from COSCO Shipping Co (COSCOL) for a semi-submersible heavy-lift vessel to be built at Guangzhou Longxue. A delivery schedule for the 50,000dwt vessel has not been revealed but estimates have put the date at early 2017. It will be co-designed
- Independent maritime investigation agency launched
Globus Intelligence, an international forensic investigation consultancy, has joined up with the Human Rights At Sea organisation to provide independent maritime investigations. David Hammond, founder of Human Rights At Sea and author of the "100 Series Rules for the Use of Force" maritime security
- Costa Concordia passes halfway mark
Costa Concordia, having passed the halfway point on its 190nm journey, is expected to arrive in the port of Genoa on Saturday night. The Italian civil protection service said the convoy accompanying the former cruise ship reached the 100nm mark at 08.00 local time today. By late morning it was off
- EMS Seven Seas leaves stock market
Today is the last trading day in the shares of EMS Seven Seas, the ship chandler and maritime services company, on the Oslo stock market. Supreme, a Dutch investment company, increased its holding in EMS to 90.04% in June, which triggered a Norwegian legal requirement that it launch a mandatory
- Italian police smash cocaine ring
Drugs busts by Italian police have led to the arrest of a number of current and former employees of the port of Gioia Tauro. Italy's finance police say they have smashed a gang importing Latin American cocaine through the container port. So far 13 individuals are under arrest, some of whom are said
- Australian miners help Capesizes
A spate of fixtures in the Western Australia-China iron ore route provided some positive news for Capesizes this week. Australian iron ore miners Rio Tinto, BHP Billiton and Fortescue Metals Group have been more active than in recent weeks, brokers report. IHS Maritime data shows that the companies
- Vessels collide in Korea Strait
A Japanese fishing vessel capsized and sank after colliding with a feeder ship yesterday about 10km northeast of Tsushima Island, Japan, in the Korea Strait. The 706teu Bohai Star, owned and operated by South Korean company Nam Sung Shipping, collided with the fishing vessel at about 05.30 local
- Dredging boost for Chinese islands
All shipping channels around the Yongle Islands in south China's Hainan Province have reopened after dredging there has been completed. "It allows boats to leave or reach the islands at any time," said Jiang Weiquan, chief of the Yongle Islands administrative committee. Boats used to take chance to
- Jaxport installs PORTS system
Port of Jacksonville, Florida, has installed the $2.8M PORTS (Physical Oceanographic Real-Time System) decision-support program to save money, improve navigational safety and enhance research on the St Johns River. Developed by the US National Oceanic and Atmospheric Administration and inaugurated
- LR tanker rates surge on frenetic naphtha buying
A rush to stock up on naphtha has pushed up freight rates for long-range products tankers on the Gulf-Far East route for a second consecutive week. The Baltic Clean Tanker Index yesterday assessed the LR2 (75,000-119,999dwt) tanker rate at Worldscale 113.06 or $19,705/day, up from W97.05 or
- Yinson sells off stake for $59.3M
Malaysia-listed Yinson has sealed a share purchase agreement with BW Offshore's indirect subsidiary Prosafe Production Public Limited (PPPL)to dispose of its entire equity interest in Nautipa (NAS) to PPPL for a cash consideration of MYR187.98M ($59.1M). Previously, Yinson holds an indirect equity
- VLCC rates surge as cargoes emerge
Freight rates for the benchmark routes of very large crude carriers rose points from last week to average Worldscale 52.5 or $29,951/day yesterday. Exactly a week ago, the Baltic Dirty Tanker Index assessed the Gulf-Far East rate at W46 or $19,632/day. Freight rates for Gulf-Southeast Asia trips
- CSDC to acquire another 20% stake in compatriot
China Shipping Development (CSDC), a bulk-shipping arm of the China Shipping Group, plans to bid for a 20% stake in compatriot Shanghai North Sea Shipping for at least CNY830M ($133M). China Shipping Tanker, a wholly owned subsidiary of CSDC, will place a bid with a bottom rack price of CNY830M, a
- Charter leads to Tallink fleet shake-up
Estonian shipping company Tallink has announced the 14-month charter of the Baltic's largest ferry, the 59,914gt Silja Europa, to Bridgeman's Services of Canada, with an option for a further four years. Such charters may become commonplace as the 2015 deadline of MARPOL's Tier III Baltic sulphur
- Keppel O&M ends 2Q14 in high note
Singapore-headquartered Keppel Offshore and Marine (Keppel O&M) saw a surge of 17% quarter-to-quarter in its operating profit to SGD302M ($243.7M) in 2Q14. The company's profit before tax also rose 15% to SGD345M in 2Q14, following a 15% increase in EBITDA to SGD337M. Keppel O&M ended 2Q14 by
- Four rescued after Typhoon Matmo grounds tanker
Four oil tanker crewmen were rescued after their ship ran aground off the coast of Kaohsiung, Taiwan, on Wednesday due to Typhoon Matmo. The four men, two from China and two from Indonesia, were brought ashore by a rescue helicopter, unhurt and "in good condition", according to Taiwan's National
- Indonesia's new government set to curb coal exports
The election of Joko Widodo as Indonesia's new president could mean reduced coal exports from the country, said IHS McCloskey. Formerly the governor of Jakarta, Widodo has pledged to supply cheaper energy to Indonesians. Coal and gas are expected to support this. The outgoing government's 2014 plan
- Crowley ships to have MES gas injection diesel engine
Japanese shipbuilder Mitsui Engineering & Shipbuilding has received the first order of its electronically controlled gas injection diesel engine. The MAN B&W 8S70ME-C8.2-GI will be installed on two container-ro-ro ships to be built by VT Halter Marine for US-owned Crowley Maritime Corporation. It is
|JULY 25, 2014|
- OOCL results show strength in container shipping business
Evidence of volume growth in east-west container shipping markets was revealed in Orient Overseas Container Line's most recent results: The carrier's total volume increased by 10 percent in the first half over the same period last year, and revenues grew by 4.3 percent. Asia-Europe volume registered the highest growth at the...
- Ferro to leave FMCSA, but driver rules roll on
Anne S. FerroAfter five years leading a broad and often controversial effort to reshape federal truck safety regulation, Anne S. Ferro is leaving the Federal Motor Carrier Safety Administration. Ferro, the Department of Transportation's top truck safety official since 2009, will join the American Association of Motor Vehicle Administrators as president...
- SCFI: Europe, US spot rates fall
The Shanghai-northern Europe spot rate slipped 2.2 percent to $1,203. Full-size chart Price drops continued to be reflected in the Shanghai Containerized Freight Index this week, as every major lane on the index saw spot rates fall. In the Shanghai to northern Europe lane, the rate per 20-foot container slipped 2.2 percent to...
- Swift Transportation promises 'enhanced' driver pay as shortage crimps growth
Year-over-year percentage changes in revenue, excluding fuel surcharges, for Swift's truckload and dedicated divisions are following divergent paths. Full-size chart Swift Transportation, the largest U.S. truckload operator, got even bigger in the second quarter, but potential growth was restrained, the company said, by a "challenging driver market." "Our driver turnover and unseated truck...
- Philadelphia container volume up 29 percent
Container volume at the Port of Philadelphia jumped 29 percent during the first half of the year, aided by two new services and a continuing shift of breakbulk to containers for shipments of imported fruit. The Philadelphia Regional Port Authority said container volume from January to June totaled 219,060 20-foot-equivalent units,...
- Hamburg Süd signs deal to acquire CCNI's container operations
Hamburg Süd has signed a preliminary agreement to acquire the container operations of the Valparaiso, Chile-based Compañía Chilena de Navegación Interoceánica, or CCNI, effective Dec. 31, 2014. The deal would combine the No. 13 and No. 28 carriers in a merger that would reinforce Hamburg Süd's strength in north-south trades at a...
- ABS & MPA Ink MOU to Collaborate on Maritime Research & Development
(Singapore) ABS, a leading provider of global marine and offshore classification services, and the Maritime and Port Authority of Singapore (MPA) signed a memorandum of understanding (MOU) today to promote maritime research and development (R&D) and innovation. Over the next five years, ABS and MPA will collaborate on maritime R&D in the...
- BRITISH INTERNATIONAL FREIGHT ASSOCIATION NAMES NEW DIRECTOR GENERAL
The British International Freight Association (BIFA) has named Robert Keen as its new Director General to succeed Peter Quantrill who retires from the trade association in August.Mr Keen, joined the industry in 1970 and worked for a succession of forwarders before joining BIFA in 1999. He was appointed an Executive...
- Ocean carrier rate revision roundup for July 25
Several container lines have planned general rate increases in multiple trade lanes in August, although any gains achieved could be temporary as overcapacity and sluggish global demand continue. While the collapse of the P3 Network mega-alliance last month had some believing that rate volatility would continue, the new 2M vessel-sharing agreement...
- Pantos Logistics Opens a 20,000m2 Logistics Center in Rotterdam, The Netherlands
Pantos Logistics, a comprehensive logistics service provider operating more than 180 logistics networks around the world, plans to strengthen its warehouse logistics business in Europe. The company has acquired a warehouse of 20,000m2 on a 34,300m2 site in the port of Rotterdam(Maasvlakte), which is Europe's largest trade port and gateway. The company plans to expand its warehouse...
- Washington governor pulls state trooper escorts for grain inspectors as labor dispute drags on
A year-long contract dispute between United Grain Corp. and the International Longshore and Warehouse Union effectively shut down export operations at the Vancouver, Wash., facility this month following a decision by the governor of Washington to withdraw state trooper escorts for grain inspectors. The grain contract in the Pacific Northwest is...
- Air France-KLM eyes restructuring or partnership for freighter unit
Air France-KLM today said it is weighing a partnership or restructuring of its freighter business after booking cargo losses and charges of $205 million in the second quarter, but stressed it will remain a major player in the air freight market. Cargo losses narrowed to €45 million ($61 million) in the...
- North American rail traffic hits new peaks
Intermodal traffic on North American railroads is up 6.0 percent so far this year. Full-size chart Total rail traffic on North American railroads broke the 11-million-carload mark this week, posting year-to-date gains of 3 percent compared with 2013. The Associations of American Railroads' weekly traffic report showed railroads moved 398,145 carloads in the...
|JULY 25, 2014|
- CCNI to see gain
Compania Chilena de Navegacion Interoceanica (CCNI) says it will add $85m to its financial result through the sale of its liner business to Germany's Hamburg Sud.
- Tanker Axios extended
Capital Product Partners has signed a deal to extend the charter of a chemical and products tanker to sponsor Capital Maritime & Trading.
- Orion monopoly to end
Panama's new government has suspended the flag-state's officer licensing assessment programme, wresting it from a private company holding a controversial monopoly.
- Sinokor, not scrap
John Fredriksen may be unwilling to take VLCCs through a third special survey but others are prepared to take on the tankers.
- Success for ER Schiffahrt
Shipmanager ER Schiffahrt has won a crucial court victory in a $50m dispute linked to the sale of 14 container ships with issuing house MPC Capital.
- Hamburg Sud strikes
Hamburg Sud is set to follow in the footsteps of Hapag-Lloyd and complete the takeover of a Chilean line.
- CMA CGM's Douala downer
CMA CGM says its lines calling in Cameroon are experiencing skyrocketing operating costs as a result of congestion at the port of Douala.
- Capital comes up short
Capital Product Partners has disappointed the market with a smaller than expected second quarter profit.
- Dorian in China coup
Dorian LPG has opened the door to the Chinese gas market after striking a deal with HNA Logistics Group.
- Kazakhs plan yard
Kazakhstan is planning a new shipyard to build offshore vessels.
- Mercator further into red
Singapore-listed bulker owner Mercator Shipping Lines has posted a bigger first quarter loss as costs jumped.
- Yemen pumps again
Yemen has started pumping crude oil through its main export pipeline again after clashes between soldiers and tribesmen killed seven.
- NRSL on block again
Russia is trying again with a tender to sell its holding in Northern River Shipping Lines (NRSL).
- Precious turns red
Precious Shipping slipped to a narrow loss in the second quarter during a difficult stretch for the dry cargo market.
- Near miss for Maersk
A Maersk boxship needed a tow after a near miss with a sandbank off New Zealand.
- Ship sinks off China
A general cargoship has capsized and partially sunk off China, but all crew were rescued.
- Siem slips in first half
Political and operational issues proved a drag on first half profit at reefer owner Siem Shipping.
- Not done yet
Meyer Werft has not yet sealed the takeover of STX's Turku yard in Finland, despite claims in Korea.
- MMA's strike threat
Mermaid Marine Australia (MMA) is facing strike action from staff as it seeks a new pay deal.
- More work, more money
OOCL has secured stronger revenue in the second quarter on the back of higher volumes.
- Samsung strong in second
Samsung Heavy Industries has posted strong second quarter figures that flew past analysts' estimates.
- Shipping tantrums
We take a look at what was said in the market over the past week.
- Van Oord's Brazil boost
Dutch dredging group Van Oord has won a EUR 100m-plus ($134.66m) contract to work on a new shipyard, as well as port upgrades.
- Wenchong wins heavy-lift
CSSC Huangpu Wenchong Shipbuilding has announced a new order for a heavy-lift vessel.
- Double for Sanfu
China's Taizhou Sanfu has won its first chemical tanker order in eight years.
- Growth boosts Logindo
Logindo Samudramakmur has booked a 70% growth in second quarter net profit aided by higher revenue from its expanding fleet.
- Otto taps bond investors
Otto Marine is looking to tap the bond market for up to SGD 70m ($56m) in fresh funds, the company has confirmed.
- Aussies find Zodiac guilty
Zodiac Maritime Agencies has been fined over a pollution incident involving one of its vehicle carriers in Australian waters in 2012.
|JULY 25, 2014|
- Hamburg Süd to acquire CCNI liner business
The deal is subject to due diligence, execution of a sale and purchase agreement and approval by the competent authorities, and is scheduled to be executed by Dec. 31, at the latest.
- Air France to further reduce freighter fleet
"Faced with the slower-than-expected recovery of cargo demand, we will further decrease our full-freighter exposure but will remain a key player in the cargo business," Alexandre de Juniac, chair of Air France-KLM's board of directors, said.
- Localities to pay for extra U.S. Customs service
- Echo Global sees solid results, raises guidance
"Echo's growth model delivered outstanding results, as we completed another record quarter of revenue and profitability, driven by strong organic growth and the impact of our recently completed acquisitions," Echo's CEO said.
- FMCSA, OSHA work to combat retaliation against drivers
- OOCL saw higher revenues, container volumes in Q2
The Hong Kong-based liner company said it moved 1,453,193 TEU in the period ending June 30, 11.2-percent more than in the same 2013 period, while revenues were $1.5 billion, up 6.8 percent.
- French company buys supply chain optimization company Quintiq
Quintiq Co-Founder and Chief Executive Officer Victor Allis described his company as a "puzzle-solving" solutions provider, in a conversation with American Shipper in May.
- Port of Oakland cargo volumes up in June
- Qatar takes majority stake in UASC
|JULY 25, 2014|
- Vancouver MGO prices end week on low note
Good avails reported at the Canadian West Coast port.
- Weekly Global Market Report
A weekly price roundup from bunkering hubs around the world.
- Becker Marine Systems to showcase LNG technology
LNG Hybrid Barge to be christened at Hamburg maritime fair.
- ClassNK hosts seminars on LNG as marine fuel
Technical events held in Shanghai and Singapore.
- Prices head down in major European ports
Bunker prices following crude downwards.
- Prices close week firm in Fujairah
Avails tight for prompt deliveries.
- Rotterdam LNG bunker project moving forward
Contract awarded for the design and construction of LNG break bulk terminal.
- Conservation group 'kicking itself' after bunker spill
Sea Shepherd vessel polluted port waters.
- Maersk ship in 'fuel flow' failure incident
Details of failure emerged following questions in New Zealand Parliament.
- Asian market ends week on stable note
Narrow-range trading seen ahead of Singapore holiday.
- Wind power is a 'no brainer'
Singapore will be 'fertile ground' for Auxiliary Sail Propulsion System.
- Barge owner fails to limit oil spill liability
Series of court actions date back to 2008 spill.
- US-listed shipowner renewing fleet
Sells three vessels as part of process.
- Greek shipowner adds 'eco' newbuilding to fleet
Newbuilding is the first fuel-saving capsize vessel to join fleet.
- JKH posts bigger quarterly profits
Despite 'significantly' reduced earnings from bunkering arm.