|MARCH 31, 2014|
- Singapore's PSA 2013 profit up 13pc to US$1.13 billion, sales rise 3pc
- Sinotrans Shipping buys 2 firms for US$138 million, but profit down
- China Shipping Development adds 1.92 million tonnes capacity this year
- Customs dispute over trucker guarantees at Finnish-Russian border
- Dalian Huayuankou Economic Zone to open US$402 million logistics park
- Bidders quit Kandla container terminal after port trust becomes difficult
- Inner Mongolia's Erenhot cargo volume up 3.6pc to 1.38 million tonnes
- Hunchun gets subsidy to develop cross-border infrastructure
- Germany: Reciprocal trade sanctions will hit Russia harder than West
- ASEAN economies need to sort out customs and harmonise trade rules
- Ruin looms for carriers as overcapacity is compounded with rising debt
- Air China 2013 profit drops 32pc to US$524.7 million, sales off 1.3pc
- DHL joins pharma race as Asians grows older, affluent and needy
- Miami airport posts 2pc hike in international air freight in 2013
|MARCH 28, 2014|
- BHP 2014 & Bulk Trans 2014 generating tremendous response
- DNV GL service reduces impact of variations in ship construction
- Hapag-Lloyd ups operating result & volume in 2013
- Suez Canal going strong
- Indian fruit, vegetables face EU ban
- KPT again shortlisted as 'Port of the Year' for seafarers' welfare
- Govt keen on improving road connectivity with neighbours
- INR turns weak on fresh dollar demand
- Meat exports can grow by 5 pc on higher demand: Food Secy
|MARCH 31, 2014|
- GATX invests in new railcars
- Cargolux rings in numerous changes
- SBB Cargo steams back into the black
- Iata turns spotlight on opportunities in Latin America
- Port of Hamburg offers green awards
- Jan de Rijk provides trucking services for Lufthansa Cargo
- Finally back home
- ABC launches new US service and increases existing one
- UPS opens European air hub's extension
- PSA sees increase in volume and profit
- Scotland's Caledonian Logistics renews fleet
- A new office in the New World
- Einstiege hier und da
- Kuehne + Nagel supporting Irish Dairy Board
- DHL Express and Southern Air expand fleet
- WCI drops ahead of planned GRI
|MARCH 28, 2014|
- Bollinger delivers ninth FRC
- Volstad newbuild has permanent magnet tunnel thruster
- Houston and Galveston open to all marine traffic
- Crowley tugs deliver Tubular Bells topside
- Coastal wins OSV orders, jack-up in works
- GAO rejects protest of $47.5 million inflatables contract
|MARCH 28, 2014|
- Attica reduces its annual loss
Ferry owner attributes result to growth in traffic, cheaper fuel and better deployment
- Cosco to order five 14,000 teu ships and deepen ties to China Shipping Group
Chairman Ma says carrier aims to learn from Maersk Line's fiscal example
- OW Bunkers lists in Copenhagen
Danish fuel supplier is part of shipping service provider the Wrist Group
- Asia Container Terminals divestment boosts PSA annual profits
Singapore ports giant reports 6% volume growth from its overseas ventures
- Eastern Europe uncertainties hit HHLA
Chief executive says Hamburg port operator could suffer from Russia sanctions
- Wan Hai reports 16% annual profit growth
Intra-Asia specialist reports a 5% drop in revenues but also in costs
- Swedish Club reports $17m surplus in 2013
Results reflect a positive underwriting year and strong investment earnings
- Carriers push Asia-Europe freight rates over $1,000 per teu
Prices almost double on the Asia-South America trade but fall on Far East-US route
- Two creditors sell Berlian Laju Tanker loans to KKR
Chembulk's Noonan takes global role, as BLT faces better prospects in chemical tanker sector
- More and more eggs in ever-bigger baskets
Ever-larger containerships pose a tricky proposition for salvors
- The Week on Wall Street | March 28
Free to read: Shipping news and gossip from America
- Exclusive Lloyd's List sulphur survey reveals growing trust in technology
Findings show some owners favour scrubbers but others may turn to more expensive LNG
|MARCH 28, 2014|
- Vessel sinks following collision off Japan
The Japan-flagged cement carrier Sumise Maru No. 38 (IMO: 9054200) that collided with Japan-flagged chemical tanker Kaisei Maru (IMO: 9560431) off Himeji, Japan on Wednesday sank three hours after the incident
- Haixun 01 to hunt for MH370 debris
Chinese Maritime patrol ship Haixun 01 will tomorrow seek to recover objects sighted by search planes late on Friday AEST during the hunt for the wreckage of Malaysia Airlines MH370
- Strong start for OW Bunker shares
Shares in OW Bunker, the Danish bunker supplier that went public in Copenhagen today, started trading on a firm note
- Vancouver trucker strike ends
Truckers at Port Metro Vancouver returned to work on 27 March after an agreement was reached over rates of pay and waiting times at the port's four container terminals
- Swedish Club saw underwriting profit in 2013
The Swedish Club, the Gothenburg-based P&I club, has announced its underwriting business returned to profit last year, while surplus and free reserves increased as well
- MH370 search moves shifts north
The air and sea search for the wreckage of flight MH370 shifted closer to the coast of Australia today
- E.ON seeks partner among South Korean shipbuilders
German energy firm E.ON is in talks with four South Korean shipbuilders for an LNG carrier, the company's CEO said on Tuesday
- China COSCO back to black
China COSCO returned to profits of CNY235M ($39M) in 2013 after disposals of its non-core businesses
- Growing LNG demand faces facility challenges
The need to meet growing energy demand, especially LNG, is being tested by the challenges in building production facilities, Gastech 2014 was told yesterday
- BMT designs jetty to facilitate Petronas project
Maritime consultancy BMT Asia Pacific has completed a concept design for the material off loading facility (MOLF) at Petronas' proposed refinery and petrochemical integrated development (RAPID) complex in southeast Johor, Malaysia
|MARCH 28, 2014|
- Sound and Fury at NY-NJ Port
Combine several hundred longshoremen on a work break with energetic speakers using microphones they don't need, and you get a lot of noise. There was plenty of that at a Port Newark rally on March 25. Dockworkers cheered lustily as a parade of speakers took turns blaming the Waterfront Commission of...
- Ocean Carrier Rate Revision Roundup for March 28
Multiple carriers have planned rate increases in various trade lanes in April and May, although any gains achieved could be fleeting as overcapacity and lackluster global demand continues. However, according to investment firm Jefferies, the container shipping industry's supply and demand gap is narrowing this year, which will help carriers improve...
- China's Two Largest Container Lines Continue to Suffer
The two largest Chinese container lines have more reason to work together after they both continued to suffer from overcapacity and modest demand in 2013. Although China Cosco Holdings swung to a profit in 2013 with the help of asset sales, removing the risk of being delisted, its core shipping operations...
- Labor, Chassis Put West Coast Ports Under Microscope
With nerves fraying about upcoming talks between waterfront employers and the International Longshore and Warehouse Union, with memories fresh of jurisdictional issues that have led to sporadic protests in the Pacific Northwest and with chassis shortages causing long delays at Los Angeles-Long Beach, West Coast ports are as exposed as...
- Zim CEO in Bullish Mood Despite $530 Million Loss
For someone who's just unveiled a whopping $530 million net loss for 2013, Zim Integrated Shipping Services' chief executive Rafi Danieli appears to be in an outlandishly bullish mood. The Israeli ocean carrier will be among the most profitable in the industry within five years, Danieli claimed just hours after revealing...
- Shipowners Hope Low-Sulfur Fuel Deadline Gets Extended
Staring at an incremental bill for low-sulfur fuel estimated at $75 to $100 billion per year for container ships beginning in 2020, container lines are hoping that implementation will get pushed back to at least 2025. Under MARPOL Annex VI, sulfur oxide, or SOx, content in marine fuel was reduced globally...
- SCFI: Asia-Europe Rates Rise Ahead of April 1 GRIs
The SCFI for North Europe rose 44.0 percent in the week ending March 28. Full-size image Spot container freight rates from Shanghai to northern Europe and Mediterranean ports measured by the Shanghai Containerized Freight Index jumped in the week of March 28, only a few days before general rate increases set for...
- Ukraine Crisis Could Hit 2014 Traffic, Financial Performance, HHLA Warns
HHLA, the port of Hamburg's largest container handler, warned the crisis in Ukraine threatens to slow its important Russian feeder traffic and impact this year's financial performance. The Port of Hamburg had 32 weekly feeder connections to Russia in 2013. Full-size map The company said an 8.3 percent rise in Baltic Sea feeder...
- FedEx Founder Opens Up About Opportunities for Growth
Frederick W. Smith, FedEx chairman and CEO.Frederick W. Smith launched more than a company when he founded FedEx in 1973; he created an air express industry that has been crucial to the growth of global trade. Over the decades, FedEx has expanded to embrace ground parcel, trucking and, through FedEx...
|MARCH 28, 2014|
- Judge rejects seizure
A US federal judge has rejected an effort by Italian owner Michele Bottiglieri Armatore to seize a bulker as part of a three-way arbitration fight.
- Ship Finance may nix duo
Ship Finance International may tear up its remaining two newbuilding contracts at Shanghai Shipyard due to delays.
- Chemical changes coming
Chemical tanker owners have been urged to prepare for changes to trading patterns as China aims for greater self-sufficiency.
- Avance shows its hand
Avance Gas has laid out firm details of its IPO which will see shares worth up to $250m sold.
- BW tipped for VLCC strike
BW Maritime of Singapore may be looking to add Metrostar's six VLCCs to its takeover of the Greek company's MR newbuilding fleet, but it appears to have competition.
- Fednav takes to the air
Canadian bulker owner Fednav claims to have become the first shipping company to use drones to check ice conditions in northern waters.
- WW in $133m bond move
Wilh Wilhelmsen has collected over $130m after becoming the latest shipowner to tap the Oslo bond market.
- Titanic trouble?
Steel-cutting on Australian tycoon Clive Palmer's Titanic II cruiseship has still not begun in China.
- Titan faces more losses
Restructuring FSU operator and bunker supplier Titan Petrochemicals has warned of a big deficit looming in delayed interim results for 2013.
- No future for shipping?
We take a look at what was said in the market over the past week.
- Avance nets $450m
Avance Gas has secured a $450m loan which will cover both existing ships and the first of its newbuildings.
- Wan Hai profit slips
Higher costs and lower revenue curtail Taiwanese container line in 2013.
- Euronav firms $500m loan
Euronav has signed a final agreement on a $500m loan which will help pay for 15 VLCCs bought from Maersk Tankers.
- Sales lift PSA
Singapore's PSA International raised its bottom line by 13.4% last year thanks mainly to asset disposals.
- Bridge bash row settled
Owner of tanker Harbour Feature agrees to pay $1.3m for New Hampshire accident.
- Coastal hooks five
Coastal Contracts of Malaysia has reeled in new shipbuilding contracts for five offshore support vessels and is close to clinching its first order for a jack-up drilling rig.
- Cosco losses to return?
With the ink still wet on its first annual profit in three years China Cosco is already being tipped for a resumption of red numbers in 2014.
- Russian duo held
Two VTS-Trans cargoships have been detained in Azerbaijan over technical faults and unpaid fees.
- Suez Canal eyes record
The Suez Canal's revenue is expected to reach a record high in its current financial year.
- OW Bunker hits the Street
OW Bunker saw an immediate jump in value today as the stock landed on the Nasdaq OMX in Copenhagen following its IPO.
- OSG chases $450m
TradeWinds digests the digits making the headlines this week.
- Conti holds fire
Germany's Conti Reederei has yet to declare any of its 12 ultramax options at China's Jiangsu Hantong shipyard.
- Pallas ship refloats
A Swedish cargoship has suffered a hull gash after grounding off Norway.
- Is it a plane? No, it's a ship
News organisations around the world flew into newsflash mode on Thursday, claiming a plane had crashed off the Canary Islands.
- Morning Glory's story
The captain of Morning Glory has revealed how he and his crew were coerced into loading crude at a rebel-held Libyan port by 35 armed militiamen.
- Double piracy scare
Two tankers have been targeted by suspected pirates in as many days off the coast of Somalia, it has emerged.
- Hansen joins Milestone
Tom Hansen has resurfaced in a top shipping post in Singapore as chief operating officer at Milestone Chemical Tankers.
- EQT buys StormGeo
EQT has acquired a majority stake in StormGeo in a deal that also sees DNV GL increase its stake in the Oslo-based company.
- Vopak in Canada move
Royal Vopak has expanded its footprint in Canada with the acquisition of two distribution terminals.
- Seaspan sets notes price
Seaspan Corp has set the price on a notes offering that could raise gross proceeds of $345m for the New York-listed containership owner.
- Range set on $250m IPO
Avance Gas is poised to announced the pricing range of what will be a $250m initial public offering on the Olso Stock Exchange, the chief executive of a major shareholder said today.
|MARCH 28, 2014|
- NEWSFLASH: Chairman of NY/NJ Port Authority resigns
David Samson, the chairman of the Port Authority of New York and New Jersey, has resigned, effective immediately, said New Jersey Governor Chris Christie on Friday afternoon.
- China Shipping reports loss for 2013
Sluggish demand and increased capacity "led to a notable mismatch between supply and demand," and freight rates on main trade lanes "showed no substantial recovery and continued to fluctuate at low level," the company noted.
- PSA profit rises 13% in 2013
PSA's revenue rose 3.3 percent, year-over-year, to $3.7 billion on volume that increased by 2.9 percent to 61.8 million TEUs. When adjusted for port portfolio changes, PSA's like-for-like volume growth over 2012 was 4.6 percent.
- Port Iquique seeks investors for terminal expansion
The project at the port in northern Chile, which calls for the construction of a third berth and the expansion of another, will cost upward of $350 million. Iquique is located in the Tarapaca region, about 1,118 miles from Santiago.
- Canada addresses marine, rail tanker safety
- New NC port authority head is ex-Maersk exec
- MOL expands New Delhi warehouse
- MOL meets majority of internal KPI targets in February
- Business park breaks ground near Savannah port
- Engine importer reaches agreement with EPA
The company will pay $630,000 in civil penalties and post a $300,000-to-$500,000 bond to satisfy any future potential penalties related to the import of model year 2014, 2015 and 2016 vehicles.
- Weekly GRI Roundup
|MARCH 28, 2014|
- Weekly Global Market Report
A weekly price roundup from bunkering hubs around the world.
- Unclear fuel price direction in Houston
Average demand reported at the US Gulf port on Friday.
- Repsol to expand bunkering ops in Singapore
Plans to hire one or two new bunker traders by year-end.
- Report: Shipping confidence hits highest level since 2008
Survey reveals 'compelling evidence that a sea-change is set to take place in connection with shipping finance', says Moore Stephens.
- Crewmember injured during bunkering ops in Singapore
Face struck by hose's quick release connector.
- Prices edge up across most markets
Some improvement to supply at Cape Town.
- Crude gives bunkers a boost in most markets
Most price gains were close to double digits.
- Survey gives filip to scrubber manufacturers
Owners likely to go for technological solution to meet tougher sulphur cap.
- SGMF: Access to supply key to LNG's wider use
Industry adoption slow, but it will happen, says group.
- OW Bunker: Share price rises on strong demand
First day's trading price around DKK 20 above offer price.
- Prices mixed across Asian hubs
Hong Kong players preparing for supply switch from MGO to LSMGO.
- OW Bunker lists at Copenhagen
Bunker company makes IPO reality on strong demand for stock.
- Asia's LNG pricing set to fall over long term
'LNG prices across the globe will start to converge towards a natural lower level,' says Rolls Royce executive.
- Kogas starting LNG bunkering project this year
Company looking into development at South Korean ports of Busan, Incheon and Pyeongtaek.
- Bunker demand in China shifts towards East
Fuel oil exports at Shanghai topped other ports.
- ICC: Be alert to oil scams
Fraudsters capable of producing 'extremely credible documents'.
- Navy bunker tanker to be upgraded
In contract worth over $8 million.