|MARCH 6, 2015|
- 'K' Line plans to beef up bulk and LNG fleet, remove containerships
- Evergreen Line to launch two new intra-Asia services
- NYK to offer extra service linking Japan, Thailand and Vietnam
- Panalpina profit up 740pc in 2014 to US$89.65 million on flat sales
- MM Lines quits Indonesia-Western Australia service, citing poor volumes
- Maersk boxship is freed hours after running aground in Fremantle
- Asia-Middle East, South Asia rates fall due to overcapacity
- PCC Intermodal's Frankfurt terminal adds Rotterdam service
- Ocean carriers retain benefits of bunker savings - for now
- Schenker drops lawsuit against Nippon Cargo, SAS, Cargolux
- Ethiopian Airlines to develop Africa's biggest air cargo terminal
- Africa Charter Airline to expand fleet with two B737-300Fs
- Easing trade, investment rules to lift Indian air cargo 5.5pc: Study
|MARCH 6, 2015|
- From Europe to the Venice of the East
- TNT receives contract renewal from Volvo
- Transmec with new international outpost
- Contargo takes over Daimler terminal in Speyer
- Sachs Trans orders new Faymonville trailers
- New appointee for road transport in Germany
- Evergreen Line enhances Southeast Asia service
- Top tier addition in Hong Kong
- CSX investing in commercial park
- Acquisition in the bag
- Taking to the air after 23 year break
- Focus on healthcare logistics
- 2014 a good year in retrospect
- SNCBL introduces single wagon service
- ICTSI delivers strong results
- More frequencies on Istanbul-Baku route
|MARCH 5, 2015|
- Ernst Russ sees new for horizons Panamax box ships
Market prospects for Panamax container vessels have substantially improved since last year's demolition push and the recent rally in charter rates is not just a flash in the pan, according to Ernst Russ Shipbroker. Demand for this ship class by liner operators will remain relatively strong and
- Defence business drives cash-rich firms to grab yards
Reliance Infrastructure's acquisition of shipbuilder Pipavav Defence and Offshore Engineering could be a forerunner of similar deals involving some of India's financially stressed yards. Indian companies with deep pockets will be looking to tap into USD250 billion of government-funded warship
- MH370 search may be scaled back
Australian parliament today (5 March) marked the first anniversary of the disappearance of MH370, hinting that the search could be wound back in coming months. Sunday 8 March will mark one year since Malaysian airline MH370 and all 239 on board disappeared without trace. Describing the loss "as
- JR Shipping takes over distressed feeders
Dutch shipowner/manager JR Shipping has been tasked by ship financier Bremer Landesbank to take over the management of six distressed container feeder ships from its portfolio. The ships - Hudson River, Yellow River, Pearl River, Yangtze River, Mekong River and Amur River - are geared CV 1100 class
- Bulc pledges action by May on Med migrant crisis
European transport commissioner Violeta Bulc has promised shipping leaders "concrete action" by May to address the Mediterranean migration crisis and the heavy loss of life it has caused among migrants trying to reach the European Union by sea. The issue was raised by leading shipping industry
- Australian port charge rise draws criticism
A proposal to increase rents at DP World container terminal in Melbourne Australia by 750% has provoked a backlash, with Shipping Australia Ltd warning that some liner vessels could bypass the port. Shipping Australia Ltd, which represents foreign shipping interests in Australia, released a
- Insight: Investors continue to find opportunities in shipping
Despite setbacks in dry bulk and other sectors, investors will continue to seek and find opportunities in shipping, according Jeff Pribor, global head of maritime investment banking at Jefferies. During an in-depth interview with IHS Maritime's Greg Miller on 28 February, Pribor - one of
- VLCC newbuilding orders relatively quiet
Despite a contango in the oil market resulting in an improvement in fleet rates, newbuilding orders have been relatively low, according to tanker brokerage and consultancy Poten & Partners. IHS Maritime's Sea-web.com data show that there are 89 very large crude carriers (VLCCs) on order, including
- Eitzen Chemical shareholders accept exchange offer
The majority of shareholders in Eitzen Chemical, the listed Norwegian chemical carrier company, have accepted a voluntary offer from Team Tankers International to exchange their shares to those in the latter company. "The offer period in the Exchange Offer expired on 28 February 2015 at 06.00 CET.
- Korean shipbuilders unlikely to lead industry recovery
Although the global shipbuilding industry has entered a recovery period thanks to more shipbuilding orders than deliveries, South Korea's players might not benefit the most from the boom, said an analyst in a research note. Samsung Securities' Han Youngsoo said, "After shipbuilding prices plunged
- Manila's throughput up despite congestion
Cargo volumes in the Philippines rose 5% despite the congestion in Manila, the Philippines Ports Authority (PPA) said in a notice on its website. The volume rose about 5% to 211.20 million tonnes for 2014 from 201.91 million tonnes posted in the same period last year, PPA's data showed. "Foreign
- Sainty Marine wins repeat orders from Celsius Shipping
Shenzhen-listed Sainty Marine continues to win new orders from Celsius Shipping amid its loss-making takeover of Nantong Mingde Heavy Industry. The new orders for four 24,600 dwt stainless steel chemical tankers were specified as repeat orders from Celsius Shipping with costs of about USD40 million
|MARCH 5, 2015|
- Harvey Energy starts working for Shell
- MacGregor books cement handling system orders
- Navigate picks Interline 9001 for newbuilds
|MARCH 5, 2015|
- Coast Guard responds to vessel grounded in Columbia River
- Corps taps Great Lakes Dredge and Dock for Savannah Harbor dredging project
- Port of Everett schedules three bus tours for April 2
- Fire discovered in shipping container at Port Metro Vancouver's Centerm terminal
- Railroads report decline in February carload totals
|MARCH 5, 2015|
- Golar LNG gets into bed with the big boys
Partnership with major Russian gas producer adds new dimensions and weight to Golar's standing
- Irish Continental doubles pretax profits
Improvement down to Irish Ferries fleet expansion
- Bunker hedging clips d'Amico results
Italian product tanker player buoyed by freight market improvements despite loss on derivatives
- Manila sees box volumes slow as congestion takes its toll
Total volumes through the port fell by 2.6% in 2014 but congestion continues to ease
- Pangaea wins transport deal for 2m tonnes of steel products
US-based bulk owner's share price soars
- New Middle Eastern refinery capacity boosts product tanker earning power
Owners such as Scorpio Tankers are benefiting and ordering more new product tankers to take further advantage
- Governments must act on migrants at sea, IMO head insists
State-funded search and rescue vital, says Sekimizu
- ICTSI records higher net profits in 2014 on overseas expansion, one-off gains
Consolidated handling volume of Philippine port firm increases 18% on year to 7.4m teu
- Golar LNG and Russia's Rosneft in new gas partnership
Partnership with energy giant Rosneft opens new doors for Golar as it aims to tie up all aspects of the LNG chain
- Yard Talk | Jack-ups redux: a worrying situation
Deliveries of speculative jack-ups begin in the second half of 2015. But there's no work for them
|MARCH 5, 2015|
- Drayage community praises new LA-LB gray chassis pool
LONG BEACH, California - The gray chassis pool in Los Angeles-Long Beach has been operating for only four days, but the harbor trucking community likes it. "I think it's going fine," Fred Johring, chairman of the Harbor Trucking Association of Southern California, said Thursday. "We are still seeing some shortages, but...
- Brazil truck disruptions diminish as president signs trucking bill
Brazilian truck drivers rolled back many road blockades this week after President Dilma Rousseff signed a "trucker's bill" aimed at resolving some long-standing truck driver grievances. However, trucker protests continue at a diminished level in parts of the country, according to news reports, cutting into truck traffic at a key...
- Mexican ports unlikely to win big from West Coast rerouting
Port of Manzanillo, MexicoLONG BEACH, California - Despite ongoing congestion at the Los Angeles-Long Beach port complex, don't expect Mexican ports to become major gateways for U.S.-bound cargo anytime soon, Transplace CEO Thomas Sanderson said Tuesday. Container volume growth at Mexican ports has grown at twice the pace of their North American...
- Spot truckload rates from LA rise as port works to clear logjam
The tentative agreement between West Coast longshore workers and terminal operators is already affecting truck pricing, with spot market dry van rates from Los Angeles rising 4 cents to $1.92 per mile on average in the week that ended Feb. 28, according to DAT Solutions. The increase follows weeks of depressed...
- Cargomatic deploys technology to help cure container port congestion
LONG BEACH, California - Cargomatic, the company driving the "Uberization" of local trucking in Southern California, wants to use its technology to break the massive container logjam at West Coast ports. The "Silicon Beach" tech company is offering a free-flow program designed to get ocean containers stacked up in port...
- Vancouver terminal remains closed as fire crews contain blaze
Gate operations resumed Thursday morning on the south shore of Burrard Inlet at Port Metro Vancouver, with the exception of the Centerm container terminal, after a four-alarm chemical fire closed the facilities Wednesday. The fire forced employees at the terminal and nearby port properties to evacuate the area, as fire crews...
- Rio de Janeiro port to begin dredging process
Rio de Janeiro will be the first container port to benefit from Brazil's $1.28 billion dredging program. Edinho Araujo, head of the Special Ports Ministry in Brazil, has just signed a Reais210 million (US$70.54 million) contract with dredging companies Van Oord and Boskalis to deepen the navigation channels to the port...
- TPM 2015: A Conversation With Maersk CEO Soren Skou
Maersk Line CEO Soren Skou is at the vanguard of the shipping industry's years-long battle to instill stability during a period of intense turbulence. In this one-on-one conversation with Peter Tirschwell, Chief Content Officer, JOC, at TPM 2015, Skou offers his views of the state of the market, outlook for...
- Seatrade CEO: Specialized reefer carriers' market share loss overstated
LONG BEACH, California-Despite the perception that specialized reefer carriers are bleeding market share to containerized liners, a closer look at the industry reveals quite a different story, said Seatrade Group CEO Yntze Buitenwerf said this week at the 15th annual TPM conference. In 2000, just under 50 percent of refrigerated cargo...
- Corps awards $134.5 million Savannah dredging contract
The U.S. Army Corps of Engineers awarded a $134.5 million contract for deepening the Port of Savannah's outer harbor channel 18.5 miles into the Atlantic Ocean. The project is the first phase of work to deepen the 40-mile shipping channel to at least 47 feet. The estimated total cost will be...
- Port of Rotterdam adding more than 6,000 reefer plugs
The port of Rotterdam is expanding its reefer plugs by 50 percent from 12,400 to 18,500 thanks to additional infrastructure contributed by Maasvlakte 2 - the western expansion of the Rotterdam port area in the North Sea. With the peak export season for fruits from South America and South Africa getting...
- Will cloud technology lead to clearer decision-making on sourcing?
More than 200 companies, from General Electric and Caterpillar to Siemens and Toyota, have brought production they originally outsourced overseas back to America since 2010, increasing the number of U.S. manufacturing jobs by 650,000. In a recent survey by Boston Consulting Group, another 24 percent of senior manufacturing executives at companies...
- Toll executive compares Japan Post takeover to DHL expansion
LONG BEACH, California - Toll Global Forwarding CEO Paul Coutts has drawn a parallel between the Japan Post acquisition of Australia's Toll Holdings last week and the Deutsche Post takeovers that turned DHL into a global giant, giving an insight into the bold ambitions of the Melbourne-based logistics operator.In the...
- Idle box ship fleet expected to keep growing
The idle container ship fleet has increased over the past two weeks and likely will continue to grow as a steady stream of new vessels is delivered, according to industry analyst Alphaliner. There were 110 jobless vessels above 500 TEUs with a combined capacity of 206,000 TEUs as of Feb. 25,...
- Port of Rotterdam revenue up, profit down
The port of Rotterdam Authority's revenue rose in 2014 on increased activity in Europe's largest container hub, but profits were reduced by higher interest charges linked to record investments in new facilities. The 3.1 percent growth in revenue to 660 million euros [US $733 million] was flanked by a 4.9 percent...
- ICTSI's new terminals push up volumes and revenue
Four new reach stackers have been deployed at ICTSI's Subic Bay and Manila terminals to handle increasing volumes.HONG KONG - International Container Terminal Services, Inc. (ICTSI) reported a 6 percent growth in net profit in 2014, driven by solid revenue increases in its international expansion.The Manila-based terminal operator posted revenue...
- India dockworkers defer nationwide strike for one week
Indian dockworker unions have tentatively agreed to defer a nationwide indefinite strike that was to begin March 9 by a week, setting the stage for negotiations between the stakeholders to reach a settlement. The decision came after the chief labor commissioner appealed to union leaders to allow until March 16 to hold further consultations on...
- US perishable trade growth outpacing total trade gains
LONG BEACH, California - While the growth pace of overall U.S. trade is slowing, perishables trade expansion is "significantly faster," World City President Ken Roberts said at JOC's 15th annual TPM Conference. Close to 10 percent of U.S. trade is made up of perishables, therefore "the opportunity for expansion is great"...
|MARCH 5, 2015|
- Standoff continues
Strikes at more than a dozen US refineries and chemical plants continued today after Shell and the United Steelworkers union (USW) agreed to postpone labour discussions until next week.
- Best in class
Lloyd's Register made waves today after confirming reports that it has secured a contract to class what are being touted as the largest containerships ever built.
- DIS eyes double sale
d'Amico International Shipping plans to sell at least two of its older vessels when the opportunity arises.
- Grimaldi to splash $300m
Italy's Grimaldi Group is closing in on an order for five big car carriers worth $300m.
- SALT set to fix its wounds
Sale-and-leaseback deals are the latest item on Scorpio Bulkers (SALT)'s agenda as it looks to bolster its balance sheet in a weak market - but distressed deal hopefuls will need to look elsewhere.
- HMM scraps capes
South Korean shipping giant Hyundai Merchant Marine (HMM) has reportedly sold two capesize bulkers for demolition.
- Celsius orders four
Celsius Shipping has ordered four 24,600-dwt chemical tankers at China's Nantong Mingde Heavy Industries.
- JR takes Universal six
Bremer Landesbank (BLB) is behind the restructuring of six feeder containerships whose management is being transferred from Universal Marine to rival Dutch shipmanager JR Shipping.
- Andersen bags bargain
AP Moller-Maersk group CEO Nils Andersen has exercised options for B shares worth $3.11m at a bargain price.
- Spot spur for DIS
d'Amico International Shipping recorded its best spot market performance in over five years as it finished 2014 strongly.
- Golar strikes Rosneft deal
Golar LNG has entered into an agreement with Rosneft, which could see the company's FLNG facilities used by the Russian energy giant.
- Stuart named COO
Norwegian Cruise Line (NCL) has given a senior executive role to one of its veterans.
- Big cats still at Baltic
Rumours linking US listed Navios to the purchase of two modern capesize bulkers from Baltic Trading are wide of the mark, TradeWinds is told.
- Reliance takes over
India's Reliance Infrastructure has agreed to buy a controlling management stake in domestic shipbuilder Pipavav Defence and Offshore Engineering.
- Bourbon profit slips
France's Bourbon has not been able to ride its increased revenue to improved earnings but it reduced its debt by 21% in 2014.
- Arrest scuppers $416m deal
China Rongsheng Heavy Industries has scrapped a convertible warrant sale worth up to $416.5m after the arrest of the investor due to buy the issue.
- ICG on the rise
Irish Continental Group (ICG) has seen all its operating segments grow to double its annual earnings.
- Quantum selling cape
Idan Ofer's Quantum Pacific appears set to sell another 1990s-built capesize bulker, this time for further trading.
- TTIP 'can open Jones Act'
A prominent European politician has urged the region's shipowners to get behind important trade talks with the US that could open up access to coastal trades currently blocked under the US Jones Act.
- WSG adds new ferry
Sovereign Ferries has acquired a new fast ferry to service a $300m contract in West Africa.
- Thais eye new route
Thailand's transport ministry is planning a new ferry route across the Gulf of Thailand.
- Job done
Restructuring specialist John Ray has left the board of US tanker owner OSG after the company completed its financial resurrection.
- Diana channels Richard III
The chief executive of Greek operator Diana Shipping continues to believe private equity is to blame for turbulence in the dry-bulk market.
- Fleet growth to cap rates
Epic Gas expects freight rates to remain relatively flat through 2015 due to the size of the newbuilding order book.
- Epic Gas ends in the red
Epic Gas has ended the year in the red posting a fourth quarter loss of $16.2m and a full-year loss of $23m.
- Logindo defies downturn
Logindo Samudramakmur has seen its full-year net profit increase over 21% compared to a year ago.
- Noble offloads OBO
Noble Chartering (Noble) appears to be moving forward with the disposal of an elderly combination carrier (OBO) that was at the centre of a recent legal battle in the US.
|MARCH 5, 2015|
- Business leaders respond to positive economic signs
- GAO: More can be done to target high-risk truckers
- Chemical fire closes part of Port of Vancouver
- USDA sends trade mission to Southeast Asia
- Ingersoll-Rand solidifies Frigoblock acquisition
- Profits soar at Panalpina
- Port of Rotterdam profits down despite increased revenue
- Descartes sees fiscal year profits rise
- Savannah harbor dredging now ready to begin
- DHL reveals new South Asia hub plans
- Tinker Bell and the General
|MARCH 5, 2015|
- Ships collide in the Houston Ship Channel
Channel has re-opened following the collision.
- Hong Kong should 'rethink' green incentives
Think tank questions whether incentives are even needed.
- Annual profits drop for Port of Rotterdam
Dip by 4.9% in 2014.
- North America's first LNG-fuelled vessel delivered to Shell
Will run on 99% LNG and can operate for around seven days before refuelling.
- Port of Houston opens as fog clears
But offshore is a 'mess', supplier says.
- Former Maersk Line CFO joins Monjasa
Henriks to take over as bunker company's new group CFO.
- Fire at Port Metro Vancouver still smouldering
But bunkering volumes, schedules unaffected.
- Ferry operator says scrubber is 'working perfectly'
Brittany Ferries says system was installed without loss of freight or passenger space.
- Fuel oil stocks near eight-month high
Singapore onshore stocks climb for third week in a row.
- Demand for MGO surging in ports outside ECA
Ports in the Mediterranean supplying up to seven times as much MGO as a year ago.
- 'Fuel oil prices to fall' in line with the weakening demand
China's independent refiners turning to a bitumen as a feedstock.
- Should bunker prices dictate the industry's priorities?
Now is not a time for short-term thinking.
- LNG take-up 'not straight forward'
Cost compared to scrubber may be favourable in US but not elsewhere, Meech predicts.
- Gibraltar holds on to Mediterranean top spot
Bunkering ports in the region feel competition from Novorossiysk.
- OW Bunker listing: Parties could face law suits
No such thing as indemnity for players, says Chairman of the Danish Shareholders' Association.
- Bunker manager rejoins GAC
Colin Holloway back at GAC.
- Shipping firm shaves $90 million off annual bunker bill
Company sees benefit of fuel-saving efforts.
- Seismic services provider further in the red
Bunker supplier extends credit facility of $2 million to group.
- Monjasa enters into bunkering JV with Namibian firm
Namibia-listed company is involved with services, trading and distribution.
- WTI crude increases despite inventory gains
US commercial crude inventories rose by 10.3 million barrels last week.