|MARCH 4, 2015|
- MOL orders six 20,000-TEU ships from yards in Japan, Korea
- 19,000 TEU ships to be biggest till market skyrockets: Maersk CEO
- Maersk seeks orders for 50 or 17 ships of 18,000-TEU, numbers conflict
- Vancouver's box volume boosted by US west coast harbour congestion
- Fitch upgrades Virginia Port Authority's port facilities revenue bonds to A+
- Congresswoman seeks probe into employers refusal to hire holiday gangs
- OOCL to levy US$500/TEU rate hike on transatlantic from April 1
- Rival Red Sea ports in fierce battle for 2M and Ocean3 calls
- India's railway ministry to set up state-run logistics centres
- Famous Pacific Shipping LCL cuts 11 days on Rotterdam-St Petersburg run
- Conference: Best of times, worst of times for air freight in Africa
- LAX cargo volumes rise 12.4pc in January to 167,315 tons
- Volga-Dnepr flies 35 tonnes of pipeline from Scotland to Turkey
- Cargolux needs US$100 a year to be competitive and meet commitments
|MARCH 3, 2015|
- 101 new routes may be declared National Waterways
- Gadkari launches 'Shipping Samvad' website for suggestions/feedback
- NYK report recognised with Award for Excellence at 2014 Nikkei Annual Report Awards
- SPNM holds 11th networking event in Mumbai
- Urmila Project Services successfully handles first Super OD/OW consignment of BPCL IREP
- World Project Group holds 10th anniversary conference in Goa
- India exports more buffalo meat than Basmati in April-Dec.
- Iron ore imports at 5.63 mt in Nov.
- Centre to develop Major Ports to contribute 2 pc of GDP: Gadkari
- CoPT to build flyover & ROB to ease traffic congestion at Vallarpadam ICTT
- Kerala CM holds talks to resolve Vizhinjam Port issues
- Need to increase storage & facilities to handle large volumes of bulk liquid, says report
- The fraternity thanks N. N. Kumar for his services to JN Port
- Centre proposes hybrid annuity model to make payments to road operators
- East Corridor Rail project get CIL board approval
- Railways' move to partner with PSUs seen helping ease bottlenecks
- Details related to Indirect Taxes (Excise, Customs and Service Tax) in Budget 2015-16
- Govt to set up five UMPPs for INR 1,00,000 cr.
- INR drops sharply further against dollar
- NTPC Vidyut receives Cabinet nod for 15K MW solar power projects
|MARCH 4, 2015|
- Talking to Ulrich Ogiermann - Differentiating air cargo
- Cement for outsourcing activities
- Kögel sees sales shoot up in Europe
- Successful delivery of UKH
- Trans-o-flex extends pharmaceutical network
- Ukraine resumes Turkey ferry link
- New head for UK organisation
- Campaign to promote unified branding
- Paving the way for sustainable transport
- IDS elects new steering committee chairman
- End to a year of acquisitions
- TT Club appoints regional claims director Emea
- Philadelphia betting on incentives
- SNCF testing Erex system on freight locomotives
- BFS and WIN set up electronic liaison in Thailand
- Time to make an appointment with HHLA
- Walvis Bay airport extension progressing well
|MARCH 3, 2015|
- Africa must exploit its maritime resources, IMO says
African countries that have direct access to the sea should emulate Japan in exploiting their vast maritime resources to bolster their economic progress, said IMO secretary-general Koji Sekimizu. Speaking in Nairobi last week where he was attending Kenya's first National Maritime Conference,
- European shipping jobs up 25%
The number of people directly employed by the European shipping industry increased by 25% between 2004 and 2013, a study has found. Carried out on behalf of the European Communities Shipowners' Associations (ECSA) by Oxford Economics, the study found that the industry's directly employed workforce
- Wasaline continues improvement in 2014
NLC's Wasaline recorded a 5.2% rise in passenger numbers in 2014 to nearly 162,000, while freight, consisting of ro-ro and special cargo, went up 5%. The company, which is in its second year of business, owns and operates Wasaline. Wasa Express, its only vessel, shuttles across the Bothnian Gulf's
- Danish Ship Finance profit soars on impairment reversals
Danish Ship Finance, the Copenhagen-based shipping bank, trebled its 2014 net profit as it was able to reverse impairment charges booked in previous years. Group net profit reached DKK1.57 billion (USD232.5 million) in 2014 compared with DKK477 million a year earlier. "The profit, which was
- India's SCI ends newbuilding freeze
India's state-run Shipping Corporation of India (SCI) said it would start ordering new ships, lifting a two-year freeze on acquisitions following a dismal financial performance in the last four years. The enterprise said it plans to spend about USD130 million on buying ships, either second-hand or
- Genting buys Crystal Cruises
Japan's NYK has sold its US cruise subsidiary, Crystal Cruises, to Genting Hong Kong (GHK) for USD550 million. Crystal operates two luxury cruise vessels: the 2003-built, 1,070-passenger Crystal Serenity and 1995-built, 922-passenger Crystal Symphony. GHK owns Asia's Star Cruises, which operates
- Firmer freight rates nudge container ship values higher
A recovery in freight rates has helped the valuation of container ships to increase on the second-hand market, while the balance between tonnage supply and demand remains delicate, a senior shipping analyst said. "Freight rates rose marginally in February and consequently they have been
- EC: IMO must pressure states on migrant boats
The European Commission (EC) has vowed to call on the IMO at a meeting in London tomorrow to pressure port authorities and flag states to more closely monitor their ship traffic for illegal migration. Speaking at a large-scale rescues-at-sea workshop in Brussels yesterday, Charmaine Hili, policy
- MSI to benefit offshore, container sectors
The enhancement of Singapore's Maritime Sector Incentive (MSI) is likely to benefit offshore sectors and container liners, said Lim Peng Huat, director of Singapore-based integrated business solution provider Complete Corporate Service. Lim explained in the recent Moore Stephens Singapore Budget
- Port chaos to slam US container growth
Disruptions at American West Coast docks over the past two months will take a heavy toll on US container trades in 2015, according to JOC-IHS economist Mario Moreno. Moreno, speaking at JOC's 15th annual TPM conference in Long Beach, California, on 2 March, slashed his forecast for US containerised
- Tsuneishi banks on R&D to win orders
Japan's Tsuneishi Shipbuilding, which mainly builds Kamsarmax and Handymax bulkers, plans to soldier on with research and development to clinch new orders. Speaking to IHS Maritime in Singapore today, Tsuneishi president Kenji Kawano said, "It's true that the dry bulk shipping market has gone down
- Vard's cash flow to improve amid gloomy orderbook
Singapore-listed Norwegian offshore vessel builder Vard will improve in its net cash position despite a gloomy order outlook, CIMB Securities analyst Yeo Zhi Bin told IHS Maritime today. "Vard's net cash position has really tumbled; [hence] keeping cash will be the company's first priority," Yeo
- CMES to break two Aframaxes, sell six bulkers
China Merchants Energy Shipping (CMES), a Chinese bulker and tanker operator, plans to dismantle two old Aframax crude tankers and dispose of six old bulk carriers on the secondhand market. The disposals will be exercised according to market situations, a stock filing of CMES said today. According
- Sinwa posts full-year profit of USD6.7 mil.
Singapore-listed offshore marine logistics company Sinwa posted a full-year profit of SGD9.16 million (USD6.7 million) for fiscal year (FY) 2014. The net profit for FY 2014 marked an increase of 41%, as compared to SGD6.49 million for FY 2013. Likewise, Sinwa's revenue saw a jump of 10.7% year on
- Australia spells out ship bans
The Australian Maritime Safety Authority (AMSA) has released a Marine Order detailing its 'three strikes and you're out' policy for ships breaching international safety and labour standards. 'Directions and refusal of access to Australian ports' details AMSA's newfound powers under the Navigation
- Courage Marine's loss worsens
Singapore-listed bulk carrier operator Courage Marine Group has deepened into loss for fiscal year (FY) 2014, due to low demand in the dry bulk market. The company recorded a net loss of USD9.72 million in FY 2014, down 448% year on year (y/y) as compared with the full-year loss of USD1.7 million
- LPG freight rates drop ahead of March contract prices
LPG freight rates dropped below the $100/tonne mark as traders calculated their moves ahead of Saudi ARAMCO's announcement of contract prices for March. As of 2 March, the Baltic Exchange assessed the benchmark Gulf-Asia Pacific rate at USD99.625 per tonne, down USD1.375 from 27 February. At
- Baltic Trading warns on covenants
NYSE-listed Baltic Trading has admitted that it is in danger of breaching debt covenants within the next six months. The dry bulk owner posted a net loss of USD5.6M for 4Q14 versus net income of USD587,000 in 4Q13. Average time charter equivalent rates were just USD8,847/day in the most recent
|MARCH 3, 2015|
- Merger sees Kvichak become wholly-owned Vigor subsidiary
- NNS's Suzanne Beckstoffer wins Engineer of the Year award
- Delfin LNG signs MOU with Lithuanian customer
- USCG issues safety alert on fuel switching
- Arctic drilling opponents seek to block Foss terminal lease
- Bordelon christening continues Susan G. Komen partnership
- EU states must act on Mediterranean humanitarian crisis
- Wärtsilä gets first contract for EX-proof BWMS
- Genting buys Crystal Cruises, will add newbuild to fleet
|MARCH 3, 2015|
- Coast Guard shuts down operation of passenger vessel WILLAMETTE QUEEN
- Standard & Poors gives AA- rating to Portland Airport improvement bonds
- Mitsui Oks contract to build new 20,000 TEU containerships
- Alaska Airlines taps Charles Breer for Alliances managing director post
- FESCO Transportation Group names Belyakov Finance VP
|MARCH 3, 2015|
- Unions hold firm in Rotterdam terminal dispute
FNV Havens and CNV Vakmensen refuse to negotiate with Maasvlakte 2 terminal operator unless it enforces a collective agreement for all employees
- NewLead scores affreightment deal for 25 year-old panamax
Year-long aggregates contract follows hard on heels of separate bitumen tanker coa
- India LNG import projects at risk
India has great potential as an importer, affecting LNG shipping trade lanes, but various factors jeopardise development
- Somalis free fishing crew after four years
Hostages held since April 2010
- Tokyo calls for better class rules in final MOL Comfort report
But transport ministry stops short of giving definite causes of the casualty
- Shipping contributes $164bn to European economy, says Ecsa
Update of Oxford Economics study shows industry providing work for 2.2m people
- Box line industry could improve profitability by more than $6bn
Maersk Line's ebit margin gap highlights the profitability that the rest of the industry could achieve
- Svitzer reiterates focus on growth with long-term contracts and efficient port operations
Hugely competitive terminal towage sector in need of consolidation, says Robert Uggla
- MPC Capital takes full control at Ahrenkiel
Management shake-up will see Holländer take chief executive job
- Top global operators vie for second Mombasa terminal
PSA, APM Terminals, DP World and Cosco on shortlist of 19 interested in Kenyan port's new box facility
- Fisher sees jump in tanker profits
British owner may boost fleet if upturn sustained
- Rules on environment and employment could disrupt European maritime cluster
Dingle warns that some regulations making regional owners less competitive
- European drive to boost R&D funding for greener ships
Vessel for the Future calls on Brussels for public/private partnership
- Hansen to push twin-track strategy at Skuld
P&I club to build commercial activity to benefit mutual members
- Caution the watchword as demolition rates edge back to $400 per ldt
Prices for scrap ships across the Indian subcontinent appear to have settled
- Alliances blamed for initial chaos as LA and Long Beach start to clear cargo backlog
Long Beach boss calls for landlord ports to take more active role after bruising negotiations on new labour contract have damaged prospects for Southern Californian duo
- Stopford calls for more bespoke container services
Clarkson Research boss questions the economics of very big ships that are commoditising the industry
- 'We are well equipped for making acquisitions,' says BW LPG
What's next for the world's biggest VLGC player as the market buzzes?
- Baltic Trading posts loss as dry rates slump
New York owner signals possible extra capital need ahead
- Maersk Line prepared to adjust network as shippers lose trust in west coast ports
Danish giant to respond to customer requests for more east coast calls
|MARCH 3, 2015|
- Offer better services not bigger ships, Clarkson analyst says
LONG BEACH, California - Ship sizes had reached the point of diminishing returns and container lines should be focusing instead on introducing differentiation into their service offering, Martin Stopford, director of Clarkson Research Services in London, told delegates at TPM 2015. "On paper, they are cheaper. When you run a spreadsheet...
- Tiger Cool Express expands intermodal reefer fleet
Intermodal rail carrier Tiger Cool Express recently added 35 temperature-controlled intermodal containers to its fleet. The acquisition expands the carrier's fleet to 234 containers for shippers of perishable produce and food products. The new intermodal containers are manufactured by Hyundai and equipped with Carrier X4-7300 refrigeration units and iBright telematics. Their...
- Ports of LA, Long Beach say they'll be back to normal in 3 months
Left to right: Bill Mongelluzzo, senior editor, The Journal of Commerce and JOC.com; Gene Seroka, executive director, Port of Los Angeles; Jon Slangerup, chief executive, Port of Long Beach.The container logjam at the ports of Long Beach and Los Angeles will be cleared within three months, the top officials of...
- Shipper or broker: Who's on the hook?
Q: I'm in business helping carriers collect their freight charges from shippers when brokers and third-party logistics providers don't pay those charges. I have had a lot of success. In most cases, the shippers and their attorneys initially refuse to pay on the ground that they've already made payment to...
- New products, services aim to grow temp-sensitive air cargo
After several years of stagnating growth caused by the global economic downturn and weak trade growth, the air cargo business is expanding and the immediate outlook is decidedly positive. Global air cargo traffic started showing signs of improvement in the second quarter of 2013, according to Boeing's latest World Air Cargo...
- Bigger landside investment, to support bigger ships, needed in US
Left to right: Joe Bonney, senior editor, The Journal of Commerce and JOC.com; Philip Damas, director, Drewry Supply Chain Advisors; Henry Pringle, vice president, AlixPartners; Mark Sisson, leader of Maritime Analysis Group, AECOM; Marc Bourdon, president, CMA CGM America LLC - Norfolk.LONG BEACH, California - Don't blame ocean carriers and...
- DB Schenker reaches accord with three airlines in price-fixing lawsuit
DB Schenker, the logistics unit of German railroad Deutsche Bahn, has reached agreement with three airlines involved in a global price-fixing cartel but is still seeking damages from three other carriers. "Deutsche Bahn can confirm that its logistics subsidiary, Schenker AG, has dismissed its claims against Nippon Cargo, SAS and Cargolux...
- Global air cargo off to slow start in 2015, IATA says
The global air cargo market got off to a sluggish start in 2015, with traffic up 3.2 percent year-over-year in January as lower volumes on European and North and South American routes offset strong growth in the Asia-Pacific region. The January increase was down on the 4.5 percent year-over-year growth at...
- JOC economist pulls back 2015 import forecast on West Coast woes
LONG BEACH, California - U.S. containerized imports in 2015 will increase a paltry 1.7 percent, dragged down by West Coast port congestion, JOC Economist Mario Moreno told the 15th annual TPM Conference in Long Beach on Monday. "Damage to the first quarter is done, and there's nothing we can do about...
- Interior China shippers face transport hurdles to tap cheaper labor
LONG BEACH, California - The challenges are abundant for second-tier suppliers moving west into China's interior, a massive region rife with cheap labor but lacking necessary infrastructure and reliable transportation. The only way to confront those challenges is to make a clear appraisal of the transportation environment, a panel of logistics...
- NRF's Shay: Port labor-management negotiation system must change
LONG BEACH, California - Matthew Shay, president of the National Retail Federation, on Monday called on Congress and the Obama administration to change how unionized port labor and waterfront employers negotiate agreements so "the interest of thousands" can no longer threaten the livelihood of millions. "The time has come for us all...
|MARCH 3, 2015|
- Wikborg leaves DHT
Rolf Wikborg has relinquished his seat on the board of DHT Holdings, the New York-quoted tanker owner told investors Tuesday.
- Uncertainty haunts yards
The forecast for the Chinese shipbuilding industry is looking increasingly grim as a result of ongoing weakness in the bulker and containership markets.
- Maybank downs YZJ
A leading Asian investment bank has downgraded shares of Yangzijiang Shipbuilding in response to fears that turbulence in the shipbuilding industry will continue in 2015.
- NewLead thinks big
NewLead Holdings of Greece appears to be making progress in its crusade to secure period deals for its bulkers and tankers.
- LSC upbeat
Lithuanian Shipping Company (LSC) is confident it will reach a new deal with banks on loan repayments as it cut its loss for 2014.
- Evergeen adds Asia routes
Evergreen Line has revealed plans to deploy more vessels for intra-Asia trades, as it sees strong potential in the region.
- GSL squeezed in 2014
Global Ship Lease (GSL) booked a small loss in the fourth quarter, bringing its full-year profit momentum to a halt.
- TEN extends LR1 deals
Greece's Tsakos Energy Navigation (TEN) has stretched charter deals for two LR1s for at least two years.
- Tallink to double up
Estonia's Tallink looks likely to add a second EUR 230m ($257m) LNG-powered ferry newbuilding at Meyer Turku in Finland.
- Fisher adds Subtech
UK shipowner James Fisher has snapped up another niche marine services company in the shape of South Africa's Subtech Group.
- Glencore kills storage vibe
Glencore has dismissed the chances of widespread floating storage at present oil prices.
- Kalavryta offloads
A tanker embroiled in a legal battle between Iraq and Kurdistan has finally offloaded its controversial cargo.
- EU shipping worth $164bn
A new study has revealed the huge value of the European shipping industry to the continent's economy.
- CCM downgrades Golar
Struggles in the spot market and concern about how lower energy prices will affect its FLNG plans have led Clarksons Capital Markets to downgrade shares in Golar LNG.
- SSY rebrands
Shipbroking giant SSY is renaming itself Simpson Spence Young as it positions for fresh growth and is making its first expansion move under the new name.
- Shin Yang stronger
Malaysia's Shin Yang Shipping has returned to profit in the second quarter as revenue improved.
- Fisher forges ahead
UK shipping group James Fisher continues to build profit as its tankers improve their performance.
- Glencore's $1.73bn book
Glencore built up its chartered fleet last year as its commodity trading business helped the company back to profit in 2014.
- Radiance expands in SE Asia
Singapore's Pacific Radiance has established its presence in Malaysia through a new joint venture with local shipping company Duta Marine.
- Genting buys Crystal Cruises
Malaysian owner Genting is paying $550m to take over Crystal Cruises from NYK of Japan.
- Recession-defying riches
Seven years into a recession and some of shipping's biggest names are still riding high at the top end of the global rich list.
- Riga Shipyard cuts loss
Latvia's Riga Shipyard has reduced its loss in 2014 despite a fall in revenue.
- President's yard seized
The government of the Crimean port of Sevastopol is nationalising a shipyard owned by Ukrainian president Petro Poroshenko.
- Cargill extends Genco duo
Cargill has agreed to extend the charters on two capesize bulkers controlled by Genco Shipping & Trading, latest disclosures show.
- RABT CFO quits
The chief financial officer of Rederi AB TransAtlantic (RABT) has resigned.
- RCL returns to profit
Thailand's Regional Container Lines (RCL) has ended the year in positive territory with a fourth quarter profit of THB 166m ($5.1m).
- Maersk ties up Voyager
Maersk Drilling has secured a charter for an idle deepwater drillship newbuilding in a deal worth at least $545m.
- Baltic ends in the red
Baltic Trading has slumped to a loss of $5.6m as excess vessel supply continued to weigh on the dry bulk market.
|MARCH 3, 2015|
- Labor secretary Perez says early consultations can avoid port labor impasses
- Maersk profiting in 'low growth, excess capacity' era
- West Coast port disruption hits U.S. container trade volumes
- Amber Road acquires product life-cycle management software company
- Kuehne + Nagel chairman sees demand for premium container service
- GAO critical of FDA's foreign food inspections
- Port Tampa Bay leases property for sulfur imports
- Rail traffic controllers in Canada ratify new collective labor agreement
- FMC reviews 11 OTI license applications
- USDA accepts proposals for 3 export programs
- U.S. government's 'James McHenry' heads to scrap yard
- Executive moves: Advance Auto Parts and Mars
- Industry leaders insist on end to future port disruptions
|MARCH 3, 2015|
- US Coast Guard issues alert around fuel switching
Agency notes incidents of fuel leakages and losses of propulsion during procedure.
- Hong Kong shipping emissions: 'Greater efforts needed'
Shipping a major cause of pollution in the worst-affected district.
- Environmentalists sue Port of Seattle
Over terminal lease that would house Shell's Arctic drilling fleet.
- UAE shipping delegation to meet with Greek counterparts
110 Greek firms in the UAE bring in business worth $7 billion.
- Report: Western US Gulf ports close due to heavy fog
Ports expected to reopen mid to late afternoon on Wednesday.
- ARA supplier adopts Singapore bunkering standard
Applies SS 600 verification procedures and will recognise ship manifold as custody transfer point.
- Trading house adds to downbeat storage sentiment
Spread not enough to keep trader interest.
- LNG: Players see the environmental advantages
But uncertainties remain about the business case.
- Gulf Petrochem eyes the big league
With new base and major appointment.
- Lower prices to have 'minimal impact' on bunker consumption
Meech predicts very little increase in ship speeds this year.
- Promotion at KPI Bridge Oil
London based trader moves into senior position.
- Consort appoints fuel oil trading manager
Irwin Yip started at the company this week.
- Nakilat: LNG as marine fuel to grow 'exponentially'
Qatari gas transporter upbeat on new fuel's future.
- New 'weather routing' service will help cut bunker costs
Chairman and managing director of Shipping Corporation of India welcomes weather forecasts for shipping lanes.
- Qatar plans for new special economic zone
'New economic zone will be of particular interest to the maritime industry,' says Manateq spokesman.
- Bulk carrier firm receives modern newbuilds
Company has contracts for the construction of 32 vessels.
- LPG player orders energy efficient vessel
Unique hull design and features of vessel offers 'superlative fuel efficiency', says yard.
- Orders placed for 'super-eco' box newbuilds
Newbuilding order part of larger fleet expansion move at Lomar.
- Oil storage at sea decreasing as oil prices fluctuate
'Demand for oil tankers is now minimal compared to the flurry we saw a few weeks ago.'