|SEPTEMBER 29, 2014|
- 'K' Line fined US$67 million for ro-ro price fix, July share sale pays bill
- Asia-Europe off 9.9pc to US$822/TEU, transpac down 7.5pc to $1,930/FEU
- OOCL cancels Asia to US west coast sailing on CC2 Service
- Shenzhen to offer US$32.6 million annually to cut ship, port emissions
- Piraeus-Taranto shuttle from Evergreen, Piraeus-Marmara reorganised
- US Commerce Department ups GDP estimate 4.6pc in second quarter
- US protectionists appeal to Obama Administration to end fast track trade deals
- Asia to US container traffic surpasses 1.3 million TEU in August
- Air France caves to pilots on low-cost airline as Lufthansa strike looms
- Nippon Cargo Airlines settles with class action plaintiffs in New York court
- American Airlines expands cargo services in Florida, adding Jacksonville
|SEPTEMBER 26, 2014|
- Allcargo Logistics completes phase II of environment conservation campaign in tribal hamlets of Mumbai
- Ashish Pednekar elected BCHAA President for 2014-16
- Capt. K. Devadas appointed SCI's Director (Technical & Offshore Services)
- CSLA AGM held
- Maersk Line plans sizeable capex on newbuildings
- MOL continues to be included in green, social indices
- SAL vessel deftly loads super ODCs at Adani Hazira Terminal
- NTPC to import 5 mt of coal for seven power plants
- Plexconcil to tap West Asian, African markets
- Spices exports up by 35 pc at 2,71,280 t during April-July
- Govt asks Major Ports to deepen draught to 18 m
- Tea traders worry over Cochin Port's decision to hike lease rent rates
- Trade unions oppose corporatisation of Major Ports
- VPT handles all-time high 22,053 t of manganese ore in a day
- DHL Express announces 2015 rate adjustments
- Konkan Rly's earnings from RoRo service up by INR 15 cr. in 2013-14
- Road projects to be fast-tracked
- Forex reserves drop to $ 315.59 bn
- Govt extends period for duty-free import of pulses
- MSRA urges govt to check imports of non-standard steel from China
- Simplify procedures in new FTP: Fieo urges govt
- State elections to delay FTP
- Textile buying agents urge govt to waive service tax
- CMA CGM at Breakbulk Americas
- Jacksonville port gains in heavy lifting
- Mammoet lifts space shuttle to new height
- Port of Everett boosts break-bulk handling capability
- Underwater rescue in US by Crane Rental Corporation
|SEPTEMBER 29, 2014|
- And the international truck of the year 2015 is...?
- BDP strengthens India presence
- Elflein an eco champion
- Railway technology market - robust growth and fierce rivalry
- Maskargo to serve Zhengzhou
- Kielgast adds NPorts to his roster
- AAS embracing Nippon Express
- Port of Esbjerg launches tender for new combi terminal
- New PPL Net member in China
- Investments to augment Poland's rail operations
- New director for Yusen Brazil
- Kuka snaps up Swisslog
- Full AEO status for port of Felixstowe
- Saudia Cargo selects new GSSA in India
- US railroad investing in Nebraska's rail infrastructure
- Flächen deckende Investitionen
- Evergreen expanding Asia-South Africa network
|SEPTEMBER 26, 2014|
- Edison Chouest Offshore's new 300 ft Class PSV
- K-Line cops plea, agrees to $67.7 million fine
- DDG 1000 marks another milestone
- Panama Canal Authority issues Ebola advisory
- DNV GL issues guidance on jacking gear
- Siem to acquire German shipbuilder FSG
- HII awarded $11.4 million for nuclear sub work
- NASSCO Earl awarded $14.4 million contract mod
- BAE San Diego gets $35.2 million for DDG 91 work
- Electric Boat awarded $310.7 million contract mod
|SEPTEMBER 26, 2014|
- Port of Seattle releases August container numbers
- US rail freight traffic delivers weekly gains
- Evergreen expanding presence in Asia/South Africa market
- Trade between NAFTA partners climbs during month of July
- Inchcape Shipping Services gives Chile oil spill report
|SEPTEMBER 26, 2014|
- China pays more than $3m to charter a suezmax to carry Libyan crude
Unipec books Teekay tanker to load a larger than usual shipment at Es Sider on Saturday
- West Africa-Europe fixtures highlight a shift in suezmax crude trades
Oil shipments to the US dominated previous deals
- Pangaea poised for reverse merger pathway to Nasdaq
US-based operator takes delivery of first of six newbuildings ahead of key vote
- Felixstowe gains Authorised Economic Operator status
Recognition marks simplified customs procedures and brings commercial benefits
- Carriers team up on Asia-South Africa
Coscon and Evergeen join forces with K Line, MOL and PIL on respective services
- Asia-Europe rates hit an 11-month low
No let-up as key trade lanes' container prices continue to slide ahead of Golden Week
- West African suezmax earnings soar $6,000 in a day
Spate of charters creates hot market
- Mediterranean trafficking gangs dump boat people near passing ships
Norwegian Shipowners Association says its vessels rescue hundreds of stranded migrants
- Let the ballast water convention carry weight
Governments must shore up standards for systems that block the spread of alien species
- Australian union plans stop-start working at DP World terminals
Operator says the disruption is neither required nor deserved
- Scorpio Tankers newbuildings start charters at $14,750-$30,000 per day
New York-listed owner agrees to charter in a 2015-built product tanker
- Ocean Three on target for 2014 launch
Carriers hope to file agreement with US regulators soon
- Höegh LNG extends charter for vintage vessel by 12 months
Gas Natural deal offers a decent rate despite a challenging freight market
- Waiting for Vale's shot in the arm
Brokers see possibility of a boost if miner's spot market appetite returns
- Week on Wall Street | September 26
Math in a vacuum in the box line market, as the dry recovery looks all wet
|SEPTEMBER 26, 2014|
- Pangaea nears US stock listing
Dry bulk operator Pangaea Logistics could soon begin trading on NASDAQ, pending a reverse merger with blank-cheque company Quartet. Quartet Merger Corp raised $98.5M via an IPO and private placement in November 2013 and listed on NASDAQ. Proceeds are being held in escrow until an acquisition is
- OSG presses suit vs Proskauer Rose
New York State Supreme Court Justice Jeffrey Oing has ruled that OSG's malpractice claim against its former outside counsel Proskauer Rose can proceed. As previously reported by IHS Maritime, tanker owner OSG initially filed suit against Proskauer Rose in US federal court in November 2013, alleging
- Singapore ramps up challenge to London
Singapore is stepping up its challenge to London as a shipping hub by boosting its involvement in marine insurance and ship finance. Singapore Shipping Association president Patrick Phoon told the association's annual dinner today that working groups had been established to look into the issue. In
- UPDATE: Nunavik attempts Arctic Northwest Passage voyage - day 8
As predicted Canadian icebreaker Nunavik did meet continuous new ice coverage yesterday and as we can see from the chart, the speed has dropped slightly from 12.5 to 9.8 Knots. Next part of passage is through the Prince of Wales Strait which is only 4 miles wide at the narrowest. Fednav believe
- Vale and CMES strike VLOC deal
Brazilian mining company Vale and China Merchants Energy Shipping (CMES) have agreed to co-operate in iron ore shipping, with the latter to order 10 very large ore carrier (VLOC) newbuildings. Vale and CMES have agreed a contract of affreightment for 25 years. This will be serviced by the 10 new
- World Maritime Day urges convention ratification
This year's World Maritime Day has underpinned the importance of ratifying key safety and security conventions. The theme, 'IMO conventions: effective implementation', was chosen as a way to shine a spotlight on IMO treaty instruments that have not yet come into force. Koji Sekimizu,
- CMA-CGM sets up support centre in Sri Lanka
CMA-CGM is investing $2.4M to set up a shared service centre in Sri Lanka. This will initially have 750 staff and will support the group's back-end operations for the Asia-Pacific and European regions. It will later expand to serve clients globally. The facility, to be called CMA-CGM Shared
- China yard official calls for cheaper labour
China's shipyards should learn from their global competitors and tap cheaper foreign labour, a yard executive has urged. Dengpan Gao, chief engineer of Fujian Southeast Shipyard, told the Offshore Support Vessels Summit China forum that subcontracting new orders to "foreign countries awash with
- Australia gets tough on groundings
Australia Maritime Safety Authority chief executive Mick Kinley has warned that the Australian public has a zero tolerance to any environmental damage by shipping. Kinley was speaking on his first official engagement as CEO at an Australian Shipowners' Association luncheon commemorating World
- 'K' Line sets up cold storage business in Vietnam
Kawasaki Kisen Kaisha ('K' Line), Japan's third biggest shipping company, will establish a cold storage business in Vietnam with Cool Japan Fund and Japan Logistics Systems. The business will be in the outskirts of Ho Chi Minh. In Vietnam, further expansion of Japanese retail businesses, such as
- TSC Group to raise $19M
Hong Kong-listed TSC Group, an offshore solutions provider of drilling packages, plans to raise about HKD$144M ($19M) by selling bonds to replenish its working capital. The bond will carry a coupon rate of 5% and mature on 3 April 2018, a stock filing of TSC Group said. The company needs capital
- Capesize rates fall on dearth of cargoes
Capesize rates slid for a third straight week due to thin cargo volumes in Australia and Brazil. The Western Australia-China rate averaged $7.418/tonne as of yesterday's Baltic Capesize Index, compared to $7.85/tonne last week. The Brazil-China route averaged $19.775/tonne yesterday, down from
- Hanjin Shipping to issue $9.2M in convertible bonds
Hanjin Shipping, South Korea's biggest shipping company, announced on 26 September that it would issue convertible bonds to raise KRW9.6Bn ($9.2M) for working capital. KDB Daewoo Securities, Samsung Securities, Woori Investment & Securities, Mirae Asset Securities, and Hyundai Securities will each
- 'K' Line eyes offshore expansion
Kawasaki Kisen Kaisha ('K' Line), Japan's third biggest shipping company, has revealed plans to build up its capabilities in the offshore marine sector. Company CEO Jiro Asakura stated in its latest annual report that while 'K' Line has stable earnings from its strength in drybulk carriers, car
- Hanjin Shipping sells Algeciras terminal for $140M
Hanjin Shipping will sell 75% of its stake in its dedicated terminal in Algeciras, Spain, to a consortium comprising IBK Investment & Securities and Korea Investment Partners for KRW146.1Bn ($140M). The South Korean biggest shipping company will hold on to its remaining 25% stake by investing
- Asia-South Africa trade network expands
Taiwanese carrier Evergreen announced yesterday that it would adjust its current joint service with COSCO and contribute vessels to the services operated by K Line, Mitsui OSK Lines (MOL) and Pacific International Lines (PIL), starting October. The carrier will deploy two 4,200teu vessels on the
- Dawei port plans revived
Dawei, the long stalled mega-port in Myanmar looks set to be revitalised with an official visit by Thai prime minister, the military general Prayuth Chan-ocha. Next month's official visit, the first overseas trip since the Prayuth-led coup seized power in May, will have Dawei on the agenda
- Chinese company wins Israel port construction deal
China Harbour Engineering Company (CHEC), a global leading engineering contractor, has won the contract to build a new port in Ashdod, Israel, reported local media. The NIS3.3Bn ($930M) port will be built about 1km north off the current Ashdod Port, consisting of a 1,000m pier and 2,80m breakwater.
- Direct India-Myanmar shipping link imminent
There will be a new cargo ferry service next month between India and Myanmar, as trade links between the two countries start to grow. "I am happy to share that the Liner Division is poised to launch a new container service to Myanmar in the first week of October 2014," Arun Kumar Gupta, chairman and
- Old large gas carrier secures record rate
A 21-year-old large gas carrier has secured a historically high rate for a year-long timecharter. Brokers told IHS Maritime that BW Group's 1993-built 57,139m³ BW Havis has been fixed to Singapore-based LPG trading house Petredec for $1.5M per month for 12 months. LGCs typically carry between
- Chemical tanker rates to pick up
Chemical tanker brokers expect upwards movement in freight rates for Southeast Asian palm oil shipments to China and India, especially the west coast of the latter country. Singapore-based chemical tanker broker SPI Marine has assessed average freight rates at $35.50/tonne for 12,000-tonne parcel
- Nha Trang Port to come under provincial control
Vietnam's Ministry of Transport has told Vietnam National Shipping Lines (Vinalines) to complete transferring Nha Trang Port to the provincial government next month, the Vietnam Ports Association (VPA) has said on its website. The port would be developed to handle international cruise ships and
|SEPTEMBER 26, 2014|
- UASC's CEO says alliances will stabilize market
United Arab Shipping Co. expects that as mega-alliances increasingly consolidate the container shipping market, freight rates will stabilize, which could be bad news for shippers. UASC's president and CEO, Jorn Hinge, said in an interview with The Wall Street Journal today that he expects less volatility in freight rates as smaller...
- Ryder expands in Mexico as cross-border automotive business grows
For insight into Mexico's economic future, consider a trip to the Bajío. The region of north-central Mexico is one of the fastest growing parts of the country, and the recipient of significant direct foreign investment, particularly from automotive manufacturers. El Baj'o is on its way to becoming one of the...
- Union Pacific track reopened after freight train collision
Courtesy of the Kansas Highway PatrolUnion Pacific has reopened a portion of its central-Kansas railway after two trains carrying containers collided. Investigators from the National Transportation Safety Board were on the ground on Friday in McPherson County, Kansas, about 50 miles north of Wichita, investigating the crash. Officials told JOC.com it...
- Chassis fingered as biggest of many problems at LA-Long Beach
Chassis shortages, huge cargo discharges from big ships and a labor force that is stretched to the limit are contributing to a congestion problem that Los Angeles-Long Beach can't seem to shake. But chassis seem to be the main culprit. "The consensus is that chassis are the most immediate concern," said...
- Hundreds protest against Nicaragua Canal
Roughly 500 Nicaraguan farmers protested against the Nicaragua Canal this week, angered that the $40 billion plan includes the seizure of their land. "We do not want the canal to be built. Nobody should come in here and take over our land," said Ronald Enríquez at a march in the southern...
- Port Canaveral gets clearance for Gulftainer lease
Port Canaveral is proceeding with the 35-year lease of the Florida port's planned container port to United Arab Emirates-based Gulftainer after the Treasury Department determined that the lease does not require a further security review. The Treasury Department declared that the port's agreement with Gulftainer was a simple lease, not an...
- Georgia ports eyeing No. 1 spot with $1.3 billion plan
Georgia Ports Authority Director Curtis Foltz speaks during his annual state of the port address.The East Coast's fastest-growing port could double its capacity in the next 10 years and plans to knock out nearly all competition along the way. Georgia Ports Authority Director Curtis Foltz, during his annual State of the...
- Spain goes to court for inadequate port security
The executive branch of the European Union has taken Spain to court over security at its ports. The European Commission said yesterday that 20 Spanish ports have failed to adopt and implement the EU's rules for port security by the deadline which was at the end of 2013. "The main objective of European...
- Walkout planned at two DP World terminals in Australia next week
Australian dockworkers are planning to walk off the job next week at DP World terminals in Melbourne and Sydney as part of a contract dispute, according to a report in Lloyd's List Australia. According to the report, members of the Maritime Union of Australia will cease working at DP World in...
- Moroccan port poised for investment
The blossoming economy in Morocco is presenting opportunities for port investment, and officials are hoping good news could spur up to $8 billion in new port infrastructure. Moroccan Minister of Equipment, Transport and Logistics Aziz Rabbah told a delegation that Moroccan port authorities are allowing public-private partnerships to speed up investment...
- Another record high for US intermodal volume
This week's intermodal volume was a record high for U.S. railroads, breaking the previous record set the week before, according to the Association of American Railroads, again signaling that the peak season is revving up for intermodal shippers as the ocean peak subsides. U.S. intermodal volume rose 5.7 percent year-over-year in the first...
- Miami reports poor July volumes
Volumes at Port of Miami continued to dwindle in July, newly released numbers show, but port officials are hoping that throughput volumes will be boosted in subsequent months by new customers and improved trade opportunities. Port of Miami reported a total throughput of 72,628 TEUs in July, 5.3 percent lower than...
- Trucking lobby 'not letting go' of battle over driver work rules
Efforts to roll back changes to truck driver hours-of-service rules may have faltered this year in Congress, but Philip L. Byrd, Sr., chairman of the American Trucking Associations, says the ATA is "bound and determined to bring about positive change" in federal trucking regulations. Speaking at the annual McLeod Software...
- Report due on MOL Comfort sinking
Japan's ClassNK plans to share findings of its investigation of last year's sinking of the container ship MOL Comfort, which an official of rival classification society DNV GL criticized as having a "non-robust design." DNV GL Vice President Knut Dohlie created a stir with his comments on the MOL Comfort's design...
- US-bound cargo from Cambodia to face enhanced scrutiny
Cargo headed to the U.S. from Cambodia will face added scrutiny due to what the U.S. Homeland Security calls inadequate security measures. According to the Cambodia Daily, U.S. authorities asked Cambodia ports to put additional security measures in place for several Cambodia ports in...
|SEPTEMBER 26, 2014|
- Norden takes two
A leading Danish operator has emerged as the patron behind a pair of period deals sealed Friday afternoon.
- S&P activity slows
Asset prices in the dry-bulk segment appear to be stabilising and sale-and-purchase activity seems to be slowing across the board, a leading brokerage told clients Friday.
- Jumbo jet set
Today's topic is the aeroplane. For all you maritime types, just think of it as a ship with wings.
- Arsenal: Nil
No guns. That's the first rule for foreign private security firms operating in Nigerian waters. The second rule: no foreign private security firms allowed. So how does P2P hope to become market leader in West Africa? Andrew Varney explains his strategy to Paul Berrill
- Speed queen
- Atoms for seas
Jonathan Boonzaier takes a look back at a unique vessel inspired by Dwight Eisenhower.
- AP Moller disappoints Platou
Forecasters at a leading European investment bank have downgraded shares of diversified Danish shipping giant AP Moller-Maersk (AP Moller).
- For Parakou's patriarch, the family that ships together sticks together
Next year it will be 30 years since CC Liu set up Parakou Shipping in Hong Kong.
- Something to sing about
Ion Varouxakis, chief executive of Freeseas, talks opera, sci-fi and art with Andy Pierce onboard his beloved historic yacht, the Aello
- My walking staff
The president of Winning Shipping, the company that dominates the transport of Indonesian bauxite into China, has a second passion - outdoor activities. And he is keen to involve his staff.
- Service charge included
Related-party payments get a bad press, but they have their defenders. Do such arrangements offer value for money and treat all shareholders fairly? Eric Martin investigates.
- Taking stock
Is aggregation the way of the future for maritime spare parts supply, asks Paul Berrill
- Trust is shipping's most precious commodity
For too long the shipping industry has believed its own myth that it is unlike any other business.
- CarVal ship ordered seized
Cal Dive International has secured a court order to seize a pipelayer owned by Cargill's CarVal Investors unit in a dispute over unpaid bills in the wake of Oceanografia's fraud scandal.
- Subsea 7 cuts debt
Oslo-listed Subsea 7 has spent $79.1m on buying back convertible bonds.
- Zvezda eyes PSVs
Russia's new Zvezda shipyard could soon start building supply ships or drilling platforms.
- On the road to $100m
Andy Pierce traces Christian Andersen on an intercontinental roadshow as Avance Gas seeks to raise cash from investors.
- Siem takes shipyard
German shipbuilder Flensburger Schiffbau-Gesellschaft (FSG) has been taken over by Norway's Siem Industries in a deal that will take effect by the end of October.
- CMES seals VLOC deal
China Merchants Energy Shipping (CMES) has clinched a deal to order 10 new very large ore carriers (VLOCs) for charter to Brazilian miner Vale.
- Cargoship barred
The Paris MOU group of European states has banned a Bulgarian cargoship for a year after failing safety checks.
- GSI closing in on overhaul
State-owned Chinese shipbuilder Guangzhou Shipyard International (GSI) is edging towards a "significant assets restructuring" but precise details are still hard to find.
- Crews warned over lines
Australia's safety board has urged seafarers to beware mooring lines after a crewman's foot was severed at Port Hedland.
- BigRoll adds third
Dutch heavy-lift owner BigRoll Shipping has declared one of two options for a module carrier at Cosco Dalian Shipyard in China.
- Polarcus keeps signing
Seismic vessel owner Polarcus has signed its third contract in a week and its fourth since late August.
- TEN gets into VL swing
Tsakos Energy Navigation is set to boost its MLP prospects with orders for VLCCs amid suggestions oil company demand for the tankers is at the highest level in half a century.
- Cruiseship saves 300
A Salamis Lines cruiseship came to the rescue of a distressed fishing boat carrying more than 300 Syrian refugees off the west coast of Cyprus on Thursday.
- Bulker under the hammer
A Greek-managed bulker is to be sold at auction in Aruba after Commerzbank foreclosed its mortgage on the ship.
- Ugland fixes newbuild
Norway's JJ Ugland has fixed its newly delivered supramax Lunita on a short-term deal.
- Ferry cash needed
A Canadian fast-ferry newbuilding plan hinges on a government grant of CAD 14m ($12.6m).
- Berth of a Princess
As LNG shipping reaches its golden jubilee, Lucy Hine finds the first 50 years reveal parallels with issues facing the industry today.
- Baltic change
Exchange chairman tells Julian Bray how he intends to keep the organisation relevant in the 21st century.
- My grand ambition
Paris Kassidokostas-Latsis tells Andy Pierce how he is helping write a new chapter in the decorated history of one of Greece's most famous shipping names.
- Hurricane coming?
We take a look at what was said in the market over the past week.
- Hoegh LNGC lives on
Hoegh LNG has stretched a charter for an elderly LNG carrier by another 12 months, the company confirmed Friday.
- Logindo seals charter
Logindo Samudramakmur has reportedly secured a new vessel charter from Italy's Eni in a deal worth $30m.
- Eyes help to Navig8
Navig8 has amassed a 74-tanker orderbook by buying wisely, economically and with strong knowledge of market trends from its roots as a commercial manager.
|SEPTEMBER 26, 2014|
- Maersk plans to boost capacity by 425,000 TEU
- Port Canaveral-Gulftainer deal gets government OK
- NAFTA trade increases in July
- Fire halts Chicago air traffic
- PacAvi to convert A320s, A321s to freighters
- FMC reviews 25 OTI license applications
- U.S. economy accelerated 4.6% in 2Q
- U.S. steel imports fell in July
- Ryder to manage Chrysler's Mexico cross dock at Altamira
- Thermo King to reduce reefer emissions in Europe
- Foltz touts Savannah expansion in annual port address
|SEPTEMBER 26, 2014|
- Weekly Global Market Report
A weekly price roundup from bunkering hubs around the world.
- Carriers: ExxonMobil ECA fuel 'interesting' option
Agree price and availability will be deciding factors.
- ARA fuel oil stocks climb week-on-week
Players say arbitrage window to the East still open.
- Alliance will save UASC $100 million per year
Controlling fuel costs is one of a shipping line's biggest challenges.
- More storage capacity for Fujairah
Crude oil storage capacity to grow by another 4 million barrels.
- More ports will join discount schemes, says Sir Richard Branson
Ports may combine to promote ship efficiency.
- Maersk Line: Dual-fuel an option
Higher ECA-related fuel bill makes gas power a possibility.
- Chinese port joins calls for an ECA in the Pearl Diver Delta
Hong Kong backs Shenzhen but warns target date of 2018 is 'very aggressive'.
- Chinese yard wins order for more LNG-fuelled ships
Client already has orders for two similar vessels.
- Hybrid-electric vessel to start research operations
System to reduce fuel consumption by an estimated 75%.
- Singapore firm eyes Australian bunkering market
Enters MoU with a 'large multinational fuel trading and distribution company'.
- Construction started for LNG-capable tanker
Vessel will serve within the US market under the Jones Act.
- MARAD injects funds into LNG bunkering research
Research focused on use of LNG bunkers on the Great Lakes.
- Maldives bunker player 'close to bankruptcy'
But government to 'revive' state-owned concern.