|JUNE 1, 2015|
- A-E falls 23pc to US$342/TEU, but transpacific up 8.1pc to $1,526/FEU
- American GDP shrinks 0.7pc in the first quarter, productivity down 1pc
- MOL levies Malaysia-Mexico/WCSA US$700/TEU rate hike June 1
- LA, Long Beach recruit joint working groups from supply chain players
- Court: It's up to truckers to ask for load value, not for shippers to tell
- Roadbuilders protest EPA sanctification of roadside ditches as 'wetlands'
- OECD frets about mega ships, but PSA chief says: Start planning
- Sarawak's Tong Joo Shipping gives thanks after 26 years in Singapore
- Chile's customs strike ends after stopping trade for 8 days
- Dunedin's Port Otaga dredges to accommodate 8,000-TEU vessels
- Kalmar to deliver 2 more auto stacking cranes to DP World Brisbane
- Land reclamation at Kaohsiung at phase 2 - new box shop to open by 2018
- IATA pins hopes on Trade Facilitation Pact to effect binding accords
- Zhengzhou's 'aero-tropolis' to become a major logistical hub
- Free shipping offers increase as e-tailers battle it out
|MAY 31, 2015|
- FTA warns UK supply chain in danger of collapsing
- Global schedule reliability in April improves to best score of 2015, says SeaIntel
- Govt approves coastal shipping agreement between India & Bangladesh
- Pon Pure Logistics acknowledged by CII as best specialised cargo logistics service provider
- Qatar Navigation Lines appoints Seatrade Shipping (Samsara Group) to consolidate its NVOCC operations in India
- RINA launches major ferry safety initiative
- Imports of refined edible oil decline by 63 pc between Nov. 2014 & March 2015: SEA
- APM Terminals Pipavav registers good quarterly results
- India to develop deep-sea port at Paira
- Kamarajar Port to invest INR 9,286 cr. for increasing total handling capacity
- Political differences should not hinder Vizhinjam ICTT development: Tharoor
- CONCOR net up in Q4, fiscal
- Container train operators seek cap on hike in haulage charges
- Road transport & shipping sectors may contribute 2 pc to GDP, says Gadkari
- Smart Cities project has received response from 14 countries: Naidu
- SW Railway to concentrate on infra development
- Govt forms 10-member committee to revisit PPP mode of infra development
- India is the world's fastest growing economy!
- INR closes weak at 63.82 against dollar
- Rising trend in forex reserves arrested; down by $ 2.31 bn to $ 351.55 bn
|JUNE 1, 2015|
- Transcarga ready for the big leap
- Best practice guidelines for animal transports
- New customs compliance division in UK
- More vehicles to pay more road charges in Germany
- Evergreen and Arkas - intra-Med network partners
- Amazon goes underground
- Easier access to frozen north in summer
- New top "chef" for food logistics provider
- Dunkerque Logistique International Sud to proceed
- Rail app for real-time hazmat information
- Adding on in Nuremberg
- Qatar Airways more to Athens and Larnaca
- Top tier change at DNV GL
- New traction for US railroad
- PAL to see less of Abu Dhabi
- SDV to serve Marshall Aerospace and Defence
|MAY 29, 2015|
- APMT sacks striking dockworkers
APM Terminals (APMT) has fired 130 dockworkers at its general cargo terminal in Callao, Peru, where a strike has been ongoing since 13 May. According to APMT, the strike involves approximately 600 workers. During the past week, "certain employees have been receiving notification that they're no
- Frontline amends tanker charters
John Fredriksen-led Frontline has announced a major revision to its long-term charter agreements and has reported stronger than expected quarterly results. Long-term charters for 17 tankers owned by related-party Ship Finance International (SFI) will be amended as of 1 July. Base rates for VLCCs
- FE/Europe spot freights slump deeper
Container ship overcapacity in the Asia/Europe trade saw cargo spot rates for westbound headhaul liftings hit another all-time low today. According to the Shanghai Containerised Freight Index (SCFI), shipments on the Shanghai/North Europe route were this week quoted at just USD342 per teu in the
- UNESCO gives Australia's Reef plan the nod
Bans on dredge disposal at sea, restrictions on port expansion, and an AUD100 million (USD765,000) government lobbying campaign have convinced the United Nations World conservation agency to recommend keeping Australia's Great Barrier Reef off the endangered list - for now. While government and
- NOL completes APL Logistics sale
Singapore's Neptune Orient Lines completed the sale of its logistics business, APL Logistics, to Japan's Kintetsu World Express on 29 May. NOL, the parent of liner operator APL, sold the logistics unit for USD1.2 billion. The sale will enable NOL to raise funds as it works towards restoring
- Product tankers face oversupply risk
Although product tanker freight rates remain in positive territory, shipowners should be cautious about newbuilding investments as there are still a number of ships to be delivered, Italian broker Banchero Costa has reported. Freight rates have been at a five-year high, driven by low crude oil
- Bangkok approves Laem Chabang port development
The Thai government has approved Harbour A Development Project at the gateway port of Laem Chabang, the government website reported after a cabinet meeting. This allows the Port Authority of Thailand (PAT) to construct an L-shaped harbour measuring 30 m wide and 120-125 m long, with a 115 x 120 m
- JST abandons newbuild bulker
Jinhui Shipping and Transportation (JST) has abandoned a bulk carrier newbuild ordered at Oshima Shipbuilding, citing the benefit of reducing future capital expenditure during an extremely challenging operating environment. Zanzibar Naviera will take over the newbuild, a 60,000 dwt bulk carrier, a
- JES appoints new non-executive chairman
Singapore-listed shipbuilder JES International Holdings (JES) has appointed Chu Caixia as its non-executive chairman. JES cited in its filing to the Singapore Exchange (SGX) that Chu is the mother of the incumbent CEO of JES, Jin Yu. Prior to Chu's appointment, the company had announced that its
- ICTSI buys Mexican port operator for $54.5m
Filipino terminal operator International Container Terminal Services (ICTSI) has acquired Mexico-based port operator Terminal Marítima de Tuxpan (TMT) for USD54.5 million. The acquisition is in line with the ICTSI's policy of business expansion and increasing its global footprints, according to
- SOE to deliver two more multi-gas carriers
Sinopacific Offshore & Engineering (SOE) plans to make delivery of two more 27,500 m³ multi-gas (LNG/ethane/LEG/LPG) carriers by the end of 2015 to Evergas, following the delivery of the first newbuilding on 28 May. According to SOE, the company held a technical delivery ceremony on 28 May for the
- Xiamen port gets $37m subsidy for channel expansion
Xiamen port in China has received a CNY230 million (USD37 million) subsidy from the Ministry of Transport for the Phase IV expansion of the port's main channel, the port administration said today (29 May). The channel will be expanded based on Phase III development completed in November 2013, which allows
- Seoul pays out first batch of Sewol compensation
South Korea's Ministry of Oceans and Fisheries (MOF) has paid compensation to the families of three Sewol ferry disaster victims. The ministry announced on 27 May that KRW1.25 billion (USD1.13 million) has been paid out in the first batch of compensation for Sewol victims. Sewol capsized during a
|MAY 29, 2015|
- Container shipping rates fall to another all-time low on Asia-Europe
- Djibouti books Iron Maiden frontman to manage its new cargo carrier
- Good news for shippers as liner shipping schedule reliability hits year-high
|MAY 29, 2015|
- Crowley to manage four Horizon containerships for Pasha
- Raytheon Anschütz expands U.S. operations
- USS Arizona Memorial still closed to visitors
- Atlantic Offshore christens third Zamakona-built FSV
|MAY 29, 2015|
- Suburu of America extends lease with Port of Vancouver, USA
- Trade between NAFTA partners climbs during month of March
- Pearl Jam poster display opens as Sea-Tac International Airport
- Lou Johnson resigning post as Port of Longview commissioner
- Boeing nets NASA order for first passenger spacecraft
|MAY 29, 2015|
- Anek eyes deal with lenders
Better results and a new capital increase will also help share status, says ferry operator
- Rickmers Holding converts from KG to stock corporation
Bertram Rickmers to chair board of new entity
- Navios Midstream Partners poised for dropdown VLCCs
New MLP has options on seven large tankers in Navios Acquisition fleet
- Large vessels and alliances not the cause of port congestion, says WSC
Labour difficulties at terminals, inconsistent productivity and inefficient transport infrastructure to blame
- Standard Syndicate 1884 off to strong start, says Grose
Move designed to subsidise P&I and broaden offering, chief executive argues
- Star lawyer Peermohamed to head Norwegian Hull Club
Ince & Co shipping head will replace John Wiik when he retires next year
- New low for Asia-north Europe rates
Freight rates fall for third consecutive week to all-time low of $342 per teu
- NordLB making shipping profit for first time since 2012
Positive contribution to income of $25m in first quarter
- Jinhui reports in the black for the first quarter
Lower revenues due to a weak spot market weigh down on core earnings
- Ship Finance amends charters and profit split with Frontline
New York-listed Ship Finance International breathes new life into its relationship with Frontline as tanker market improves
- Liner reliability picks up as alliances bed in
Maersk Line returns to its position of being the most reliable carrier
- Frontline 2012 gunning for US listing this year
Listing linked to merger with Frontline as scale will be offered to investors
- Höegh LNG raises fresh funds on bond market
Oslo-listed gas company could use funds to order new FSRU
- Frontline hits $31m profit in first quarter
John Fredriksen company boosts cashflow and cuts debt, improving its outlook
- West Australia-China offers lifeline for struggling capesize sector
Pilbara miners drive bookings on trading route
- Cost savings of ultra large containerships called into question
Massive ordering also likely to dampen costs benefits, according to OECD report
|MAY 29, 2015|
- International Transload Logistics Sets up Shop at CenterPoint Intermodal Center - Joliet, IL
CenterPoint Properties is proud to announce it has signed a long-term lease with International Transload Logistics Inc. (ITL) for 3801 CenterPoint Way, Joliet, Illinois within the CenterPoint Intermodal Center (CIC). ITL will lease 303,061 SF of the 485,476 SF facility through 2022. John Cash and David Haigh of NAI Hiffman...
- Value of goods trucked between US, Mexico leaps 9 percent
The number of trucks crossing the U.S.-Mexican border at Laredo, Otay Mesa and other points is on the rise, but the value of the goods those trucks carry is rising faster. That's a sign of the increasing importance of U.S.-Mexican trade and cross-border trucking to U.S. importers and shippers of more...
- APM Terminals fires striking dockworkers in Callao, Peru
APM Terminals has fired 130 dockworkers at its general cargo terminal in Callao, Peru, where a strike has been ongoing since May 13. According to APMT, the strike involves approximately 600 workers. During the past week, "certain employees have been receiving notification that they're no longer allowed to work here," APMT...
- Crowley to manage Pasha Hawaii ships
Crowley Maritime Corp.'s global ship management group has been awarded a contract to crew, operate and maintain four U.S.-flag domestic ships that Pasha Group is acquiring from Horizon Lines for operation in the West Coast-Hawaii trade. The contract between Crowley and Pasha subsidiary Sunrise Operations follows Pasha's $141.5 million acquisition of...
- Thailand gives green light to Laem Chabang port upgrade
The Thai government has approved construction on a new harbor at the country's largest port at Laem Chabang. The new L-shaped harbor, 30 meters wide and roughly 120 to 125 meters long, will support a 13,800-square-meter marina. "A shore crane and a container arranging crane will be installed to support up to...
- Matson closes deal to enter Alaska market
Matson Inc. has completed its previously announced $469 million acquisition of Horizon Lines, clearing the way for Matson to enter the U.S-flag domestic trade between the Pacific Northwest and Alaska. The deal marks the end for Horizon Lines, a company that traced its history to Malcom McLean's launch of coastwise container...
- ICTSI to acquire Mexican port operator
International Container Terminal Services Inc. has agreed to pay $54.5 million to acquire Mexican port operator Terminal Maritima de Tuxpan. TMT recently obtained a government concession to build and operate a second container terminal at Tuxpan on the Gulf of Mexico. Plans are for the terminal to have capacity of up...
- Israeli dockworkers end protest, return to work
Dockworkers in Israel have ended a two-day strike protesting the creation of new foreign-run port terminals. The strike shut down the country's two largest seaports at Ashdod and Haifa and cost the Israeli economy NIS 150 million, or roughly US$38.6 million, according to the Manufacturers Association of Israel. At its height, roughly...
- Low oil prices fuel US oil field transport, energy acquisitions
Lower oil prices are dampening capital investment in U.S. oil and gas fields, but creating opportunities for acquisitions, whether among energy companies or the transportation businesses that serve them. Oil companies such as Canada's Crescent Point Energy, which this week bought Saskatchewan-based Legacy Oil and Gas for $1.53 billion, are...
- Port Tampa Bay partners with USF in maritime research
TAMPA, Florida - Port Tampa Bay announces that the state's largest port has recently signed a memorandum of understanding with the University of South Florida Board Of Trustees to partner in several objectives over the next three years. The port and USF have enjoyed a decades-long relationship that is now reaching...
- Deflategate and international business: How they relate
At first blush, Deflategate and laptop searches don't have much in common, and their relationship to international business appears even more remote. Like so many international business and commercial issues, though, their outcome turned on the quality of the policies and procedures of the involved parties. Let's start at the beginning....
- Export-import intermodal boosts Container Corp. of India profit
State-owned rail operator Container Corporation of India reported an 11.5 percent increase in consolidated net earnings in fiscal year 2014-15, which ended March 31, on the back of strong volume gains from its core international freight hauling activity. Yearly group net income rose to Rs. 1,054.58 crore (approximately $164.5 million) from...
- Rail operations return to normal in India after protests end
Reports from New Delhi said train operations were returning to normal Friday following the end of week-long protests by ethnic Gujjars in the state of Rajasthan over demands for job reservation in the public sector. The blockade actions had shut down train service in the northern corridor - a busy intermodal...
- Record traffic drives Etihad cargo revenue past $1 billion
LONDON - Etihad Airways' cargo revenue topped $1 billion for the first time in 2014 as freight traffic grew four times faster than the global market to reach an all-time high.The Arab Gulf carrier, which has a fleet of 10 freighters, increased cargo revenue by 19.2 percent to $1.1 billion...
- SCFI: Asia-Europe rates collapse ahead of June GRIs
HONG KONG - As carriers prepare to implement the next round of Asia-Europe general rate increases on Monday, June 1, the spot market response was to plunge to the lowest ever official freight rate seen on the trade.According to the Shanghai Containerised Freight Index (SCFI), the spot rate for shipping...
- Build Indonesia infrastructure and factories will come, Maersk says
The Indonesian government's maritime focus will boost trade, Maersk Line believes.HONG KONG - Indonesia's plans to invest in infrastructure will pay off as the Southeast Asian country attracts cost-driven manufacturers moving their production out of China, believes Jakob Sorensen, president and director of Maersk Line Indonesia. While the country's current...
- New board for Toll Group under Japan Post umbrella
Toll managing director Brian Kruger and Japan Post CEO Toru Takahashi announce the new board.HONG KONG - Toll Group began operating under the Japan Post flag today as president and CEO Toru Takahashi announced the new board that will provide governance to the Melbourne-based logistics company. The board members include...
|MAY 29, 2015|
- NewLead CFO resigns
NewLead Holdings's chief financial officer has resigned, the Greek shipowner said Friday.
- Fredriksen's new chief executive
Jo Lunder has been hired as chief executive of John Fredriksen's NOK 100bn ($13.3bn) empire.
- Horizon Lines deal done
Matson and The Pasha Group have completed their $611m deals to carve up US containership rival Horizon Lines.
- Navios Midstream 'speculative'
Moody's Investor Service placed a speculative credit rating on Navios Maritime Midstream Partners, the newest New York-listed company the Navios group umbrella
- North Korean crew stuck
Mexico and North Korea are in talks to repatriate crewmen stuck on a cargoship for nearly a year.
- SFI boosts profit
Ship Finance International (SFI) has performed beyond analysts' expectations hot on the heels of a haircut agreement with Frontline.
- Macleod cold on merger
Robert Hvide Macleod has shaken off growing speculation of a merger between Frontline and Frontline 2012.
- Newbuild changes hands
Jinhui Shipping and Transportation has transferred a newbuilding contract for a 60,000-dwt bulk carrier to an unknown third party.
- Western revenue falls
Lithuania's Western Shipyard has posted a 12.3% drop in revenue for 2014.
- STNG springs new buy-back
Scorpio Tankers today revealed a fresh $250m buyback programme as it passed up options on a pair of converted newbuildings from sibling Scorpio Bulkers.
- Petrobras bins contracts
Petrobras has cancelled leases for five drillships and semi-submersible platforms owned by Schahin Petroleo e Gas.
- Still alive
We take a look at what was said in the market over the past week.
- Lifeboat warning
Australia has called for a change to lifeboat release mechanisms after a serious accident on a supramax in 2014.
- NOL closes $1.2bn sale
Neptune Orient Lines (NOL) of Singapore has completed the $1.2bn sale of APL Logistics to Tokyo-listed Kintetsu World Express.
- Hoegh hooks $130m
Hoegh LNG has pocketed $130m from its trip to the Norwegian bond market.
- Marine snaps up Stena duo
Canada's Marine Atlantic is buying two chartered-in ro-paxes from Sweden's Stena.
- MISC on the hunt
Malaysia's MISC is working on new acquisitions after restoring its balance sheet to health.
- Captain "sold guns"
An inquest into two deaths on a Japanese bulker off Australia has heard that its captain was accused of selling guns on board and assaulting crew.
- Place your bets
Analysts are divided on whether a restructured charter agreement with Ship Finance International (SFI) is the starter pistol or the death knell for a merger between Frontline and Frontline 2012.
- Red start for Reach
An anticipated weak winter market has dragged Reach Subsea to a red bottom line for the first quarter.
- Chilean strike ends
Customs workers in Chile have ended an eight-day strike that halted shipments at the country's ports.
- Red Funnel stays local
UK operator Red Funnel has picked a domestic shipyard for its new ferry.
- Haisheng scraps bulker
China Shipping Haisheng is selling its oldest bulker for scrap.
- Frontline ends red run
John Fredriksen's Frontline today posted its first profitable quarter in almost half a decade as it stared an aim to enter a new growth phase.
- Frontline 2012 in US push
A long-awaited US stock-listing of John Fredriksen's Frontline 2012 is set to take place this year, the company says.
- Svitzer enters Brazil
Svitzer, the Maersk Group's salvage and towage arm, has made its first tentative steps into the Brazilian market.
- Flex LNG on course
John Fredriksen-controlled Flex LNG has enough cash to see it through the next 18 months, but will seek new finance before the delivery of its first ships.
- SFI takes a haircut
Fredriksen company cuts charter rates to Frontline by $283m in return for 27.7% stake.
- Jinhui back in black
Jinhui Shipping & Trading has returned to profit in the first quarter of 2015 despite a significant decline in revenues.
- V.Group expands in Manila
V.Group and its shipmanagement arm V.Ships has opened a major new office and training centre in Manila, Philippines.
- CFO musical chairs
Transocean has recruited a new chief financial officer (CFO) from one of its rivals following the departure of its own CFO.
- Rampion to boost ports
Two small UK ports are set to be among the beneficiaries of the first offshore wind farm off the south coast of England.
- NTSB fingers Shell
The National Transportation Safety Board (NTSB) said Shell is likely to blame for the 2012 grounding of a conical drilling unit after an Edison Chouest Offshore anchor handler lost power while towing it off Alaska.
|MAY 29, 2015|
- NEWS FLASH: Pasha, Matson complete Horizon acquisition
- OECD questions benefits of mega-ships
- Spot container rates fall again on China-Europe routes
- Stifel: Global forwarders dividing into haves and have-nots
- U.S. records 0.7% negative Q1 growth
- Kintetsu Worldwide Express finalizes APL Logistics deal
- Under Armour adds Baltimore as import gateway
- InMotion Global consolidates system offerings
- Parcel delivery provider Hermes starts textile sourcing services
- Army Corps chief gets update on Port of Savannah deepening
- FRA assists A&M Railroad with engine purchases
- Virgin Atlantic Cargo lands in Detroit
- Panalpina acquires Egyptian agent
- WSC: Larger vessels, alliances not to blame for port congestion
|MAY 29, 2015|
- Exxon, Chevron shrug off pressure to address climate change
On renewable energy Exxon CEO says 'we choose not to lose money on purpose'.
- SGMF, Spanish natural gas association sign LNG MoU
Organisations to collaborate on a standard to regulate LNG-fuelling operations for ships.
- Stena Bulk's 'wait-and-see' approach to bunker alternatives
Means putting new orders on hold for now.
- Lukoil CEO sess crude holding below $80 a barrel
US data shows falling inventories by rising production.
- Emissions: Cruise ships banned from overnight berthing
Australian environmental regulator says global IMO sulphur rule 'too far off' to help Sydney residents.
- Downturn sharpens competition in Norway's offshore sector
With the environment losing out.
- LNG player 'keen to hear' if terminal should grow
Fluxys LNG is trying to judge demand for services such as loading LNG bunker vessels.
- Pertamina to build bunker storage facility
Phase one of building project to complete by 2017.
- Argos merger to exclude bunkering unit
Argos agreed merger with Varo Energy on Thursday.
- Manufacturer recommends anti-piracy countermeasure
Offers opinion on recent rise in bunker fuel siphoning attacks.
- Aegean upbeat on annual outlook
Company keeping 'ahead of the pack' on new ECA rules.
- Titan Petrochemicals moves to regain trading status
Organises open offer of its shares in cash-raising move.
- Crude rises as US inventories decline
US commercial crude inventories fell by 2.8 million barrels last week.