|NOVEMBER 19, 2015|
- HK's acting CE says port in fine shape despite volume drop for past 16 months
- Cosco posts Q3 loss of US$267.5 million on back of low freight rates
- China Merchants Heavy Industry to build new valemaxes for affiliate CMES
- Ningbo Ocean Shipping buys 4 x 1,000-TEU box ships from Chinese shipyard
- What's going to happen to Asia-Europe trade in 2016? No one knows!
- Box volume at Port of Hamburg down 9pc with weak trade from China and Russia
- Star Wars toys sales set to boost US containerised toy imports
- Agility captures contract for three major UAE defence shows
- HullWiper cleans up at the Seatrade Maritime Awards Asia
- Oliver Evans of Swiss Air joins drone maker Matternet
- HKIA sees growth in airfreight for second consecutive month
- Asia Pacific's air cargo under pressure from weak trade, overcapacity
- Cargolux makes progress in talks with unions over new work agreement
|NOVEMBER 18, 2015|
- Awards keep the Standard high
- India & Bangladesh agree on transit fee for goods movement, ink draft MoU on passenger & cruise services on coastal & protocol route
- Indian Register of Shipping releases new software for Common Structural Rules
- Ministry of Shipping to weed out obsolete rules under Merchant Shipping Act
- Ship operating costs seen rising over next two years
- Adani Kandla Bulk Terminal completes 100th rake operation at Tuna Terminal siding
- M'rashtra to build six-lane super expressway between Mumbai & Nagpur
- Annual coal import down in Oct.
- BHEL wins projects worth INR 4,614 cr.
- Cabinet clears proposals to boost exports, gives go-ahead to Cochin Shipyard IPO
- DGFT amends MEIS adding 110 more items & revising rates for 2228 product lines
- Exports plunge in October for 11th straight month
- Govt may allow fertiliser cos to import urea directly
- INR plunges further against dollar
- SPVs for 20 smart cities likely to be ready by Dec. 15
|NOVEMBER 19, 2015|
- "One must be bold!"
- Uruguay improving trunk road network
- Poland to develop up to date rail infrastructure
- Crowley stalwart for Alaska
- Teaming up in Bulgaria
- Russia, China and the navigation channel
- Precision redelivers quartet in a week
- Basel aircargo terminal GDP certified
- Farmers get track access down under
- Suess takes the lead in Munich
- M&As rising worldwide
- Interferry creates solution
- Kerry wins new Seatrade Asia award
- Large freight car order placed
- ABC and JAS Worldwide move racing cars to Macau
- Mixed double in Chicago
- Good times for Finnlines
|NOVEMBER 18, 2015|
- Ensign Events announces launch of first International Maritime Human Rights Conference
"Respect, Responsibility, Remedy in the Maritime Environment" Ensign Events together with Human Rights at Sea announce the launch of the International Maritime Human Rights Conference and Gala Dinner 2016. Taking place in London on September 14th 2016, the event will focus on explicitly addressing the issue of maritime human rights and...
- Bulker values poised for fall
Deutsche Bank analyst Amit Mehrotra. Credit: Chris Preovolos/Marine MoneyConcerns about US-listed dry bulk companies are escalating, given expectations for rising asset sales, which would lower valuations and impact debt agreements. The situation of NASDAQ-listed Star Bulk exemplifies a broader risk. On 18 November, Star Bulk reported a net loss of USD41...
- Chinese company chosen to build Sri Lanka LPG terminal
The contract to build an USD80 million liquefied petroleum gas (LPG) terminal for Sri Lanka's Laugfs Gas at the southern Hambantota port has been awarded to Chinese company China Huanqiu Contracting and Construction Corporation. The terminal will have storage capacity of 30,000 tonnes with provision to expand up to 45,000 tonnes and to accommodate...
- Transas launched High Voltage Training Breaker
According to the new requirements, training has to be conducted using real equipment. In partnership with the power technology specialist ABB, Transas has developed a real hardware high voltage generator breaker cabinet compatible with the Transas ERS 5000 TechSim simulators with high and medium voltage systems. The Transas High Voltage...
- Firm tanker market boosts Hafnia interim results
Danish company Hafnia Tankers has reported solid interim results on firm markets and bigger fleet, but it did not comment on its previously announced intentions to seek listing in the United States. Group net profit amounted to USD20.7 million in the third quarter of this year, reversing a loss of USD1.7...
- New Black Sea inspection system will result in fewer checks
The Black Sea port of Odessa, Ukraine. Credit: PAShips calling at ports on the Black Sea will be subjected to a new inspection regime as of 1 January. The new regime under the Black Sea MoU, which was agreed in April, replaces the region's existing matrix and groups ships into...
- P&I mutual structure 'under attack'
Osprey CEO Guy Pierpoint. Credit: Osprey UnderwritingThere are growing divisions in the marine insurance market as clubs feel under pressure to look for new areas of business. In the past week, Thomas Miller, which manages the UK P&I Club, has completed the acquisition of Osprey Underwriting. Osprey operates in the Lloyd's...
- China maritime and logistics players eye Belt and Road opportunities
One Belt One Road is a centrepiece of China president Xi Jinping's foreign policy and domestic economic strategy. Credit: PAChina's Belt and Road initiative means opportunities for maritime and logistics players despite inherent risks with investing in some of the markets along the planned routes, according to top executives from...
- Maersk to raise EUR600 million in seven year bonds
Credit: PAA.P. Moller-Maersk (APM) has issued bonds with a principal amount of EUR 600 million (USD 641 million) due in November 2022 with a coupon of 1.5%. This is the annual rate of interest payable on the borrowing. It is the company's first Eurobond offering since 2012, and is expected to...
- Japan yard orders surge in October
A Japanese shipyard. Credit: PAOrders at Japanese shipyards rocketed 186% in October as shipowners rushed to build ships that will comply with the International Maritime Organization's (IMO's) new standards, which will take effect from July 2016. Figures from the Japan Ship Exporters' Association (JSEA) show that its members' shipyards received 47...
- South Korea government to help Hanjin and HMM acquire 'mega box ships'
Credit: PASouth Korea's new Minister of Oceans and Fisheries, Kim Young-suk, has said it is imperative that Hanjin and Hyundai Merchant Marine (HMM), the country's two biggest shipping companies, acquire ultra-large container ships (ULCSs) if they are to compete effectively in liner shipping. Speaking at his first press conference since he...
- Angelicoussis returns to DSME for more VLCCs
John Angelicoussis with DSME president Go Jae-ho last year. Credit: DSMEGreek shipowner John Angelicoussis has returned to South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) for more very large crude carriers (VLCCs). Angelicoussis on 18 November ordered two 319,000 dwt VLCCs, which will be managed by his holding company's unit...
- Triyard receives new customer order for escort tugs
Vietnam's Triyard group has extended its product range with a new order for escort tugs. Singapore-based specialist marine craft group Greenbay Marine, a new customer at the shipyard, has contracted an order worth US12.8 million for a quartet of Robert Allan-designed RAstar 3400 Azimuth Stern drive tugs. The 34 m tugs,...
- Dry bulk shipping woes could deepen as demand shift may be structural, rather than cyclical
'Coal also depressing', says analyst. credit: HasenpuschDry bulk shipping problems could deepen as adjustment in global demand may turn out to be structural rather than cyclical with little chance of relief on excess supply. "I am worried we are reaching a structural rather than cyclical turning point in iron ore...
- ReCAAP ISC: Low crime rate should not lead to complacency
Singapore-headquartered anti-piracy watchdog ReCAAP Information Sharing Centre (ReCAAP ISC) said that crime rate dropped in its October 2015 report, but it will still remain vigilant. The number of incidents occurred in October has dropped notably by 48% and 28% compared with the number of incidents in August and September respectively. Comparing...
- HMM deteriorates into loss as working capital deficit persists
Hyundai Merchant Marine (HMM) announced a third-quarter loss on 17 November amid ongoing speculation of a merger with its bigger compatriot Hanjin Shipping. South Korea's second-biggest shipping company said it incurred a KRW24 billion (USD20.46 million) loss for the third quarter of 2015, reversing a KRW204 billion net profit for the...
- Ports of Stockholm opts for floating cruise pier
Passengers of cruise ships moored in Ports of Stockholm's Nynäshamn harbour in 2016 will be able to walk straight ashore from the ship as the port authority has purchased an innovative retracting floating pier from its creator - Norway's Cruise Venture Ltd. IHS Fairplay has learnt that the 260...
|NOVEMBER 18, 2015|
- Indian air cargo carriers will contest fines for fuel surcharge cartel behaviour
- Expeditors detours from acquisition trail to focus on the road to organic growth
- Container shipping pundits paint gloomy picture of more sluggish growth in 2016
- BIFA adds more seminars as demand soars for details of incoming new regulations
|NOVEMBER 18, 2015|
- Feds join whistleblower lawsuit against Inchcape
- Sheriff will use Moose Boat catamaran to police Lake Tahoe
- Senator Patty Murray is first recipient of Inouye Award
- MAIB: Safety lessons from fatal fishing vessel capsize
- Stowaways finding more creative ways to board ships
- Good news, bad news from Sembcorp Marine
- Powerful new fast supply/crew boat for SEACOR Marine
|NOVEMBER 18, 2015|
- Everett Port Commission approves operating/capital budget for 2016
- Drewry predicts ship operating costs will increase over next two years
- Federal Maritime Commission eyes Ocean Common Carrier rule changes
- Port of Bellingham Oks plan for future home of sailing center
- Crowley begins construction project on new pier at Puerto Rico terminal
|NOVEMBER 18, 2015|
- Panamax 'in doldrums' as BPI slides to nine-month low
Oversupply pushes down rates in main trades despite spot activities in Atlantic Basin
- Kostas Ladas to head Liberian Registry London office
Register sources London general manager from broker agent
- Sovcomflot 'immune from LNG slump', says Kolesnikov
Russian giant set fair to reap rewards of tanker recovery
- Hutchison and Maritime Union end their waterfront row
- Widespread cyber threat low but potential for disruption high
BIMCO addresses cyber security at annual conference
- UASC chief pours cold water on APL takeover
Jorn Hinge says today's market fundamentals make such an investment too high-risk
- Hafnia rakes in $20m profit
High refinery margins, combined with good demand for gasoline, middle distillate and naphtha, boost Copenhagen product tanker player
- Europa Venture eyes massive renewal of shortsea fleet
Owners encouraged by signs from Brussels over help to fund numerous orders in European yards
- Lloyd's List launches container line consolidation topics page
Latest news and analysis on what looks set to be a major shake-up among global carriers
- Retrofit rudder trunk bars to block stowaways, says UK Club
Unwanted passengers can prove costly for owners, marine mutual warns
- Sembcorp Marine to build FSO for Modec
Unit to be deployed in North Sea from 2018
- Precious Shipping cancels two ultramaxes at Sainty
Thai bulker operator also seeks $11.16m refunds per vessel
- Daewoo clinches latest Maran VLCC pair
Greek owner activates tanker contract after reportedly inking charters
- Black Sea terminal expands to take 10,000 teu vessels
Novorossiysk project to allow bigger ships to call in Russia directly
- Will King Abdullah Port be a game changer?
Bordered by the Arabian Gulf, Indian Ocean and the Red Sea, Saudi Arabia is the only country on the Arabian Peninsula which is surrounded by two major shipping lanes which link the East with the West
- STX O&S calls for massive job cuts in bid to avoid bankruptcy
Chief executive recommends slashing up to 800 jobs
- Aronnax: Applying innovation in the real world
While shipping needs to be open to new ideas, innovators need to see the potential in shipping
- Cancelled BW Pacific IPO will not affect BW Group rating, says Moody's
Analyst cites 'very good liquidity profile'
- Box Ships to delist from NYSE
Company applied for listing transfer to Nasdaq Capital Market
- HHI sees 10% increase in October ship-order sales
Hyundai Mipo Dockyard sales stay about level year on year
- Robbery incidents in Malacca Straits sharply up in January-October 2015
However, no oil-siphoning thefts in Asian waters in the past two months, Recaap says
- LA Harbour Commission approves grants to beef up port security
Los Angeles port will contribute $625,000 in addition to the grants
- Exmar inks joint pact with Swan Energy for India LNG port project
Both parties looking to ramp up LNG capacity at terminal to 10m tonnes per annum
- Cosco and China Merchants complete Turkish terminal acquisition
Acquisition will advance China's One Belt, One Road initiative
- Star Bulk to answer questions on capital expenditure requirements
Declining asset values to hit company's ability to finance remaining newbuilding programme
- Crowley starts construction in Puerto Rico to accommodate its new LNGs
Jones Act created competitive shipping market between US mainland and Puerto Rico
|NOVEMBER 18, 2015|
- New Hutch-union deal brings sacked Aussie workers back to the docks
- TRAC: Off-dock depot will improve NY-NJ chassis availability
- Health care costs, chassis complicate ILA-USMX talks
- Little visibility in container cargo demand, Maersk executive says
- Charleston port volume growth decelerates
- Study finds reducing truck waits best way to boost port productivity
- US regulators prepare to release key trucking rules
- Panama Canal vessel backlog eases
- True Value inks deal with Ryder to secure dedicated truck capacity
- San Juan dock expansion to handle Crowley's LNG ships begins
- Hyundai Merchant Marine swings to loss amid merger speculation
- China maritime and logistics players eye 'Belt and Road' opportunities
- Hyundai and Hanjin need mega-ships to compete, Korean minister says
- Little traction for index based shipper contracts, industry forum hears
|NOVEMBER 18, 2015|
- Star Bulk girds for 2016
The bulker owner outlines operating levers it may pull as it deals with weak market.
- Tanker shares imply lower 2016, UBS says
Report says tanker stock prices reflect dimmer view of time-charter rates in 2016.
- Danske Bank raises Awilco LNG rating
Bank continues to see struggles for LNG carrier owner but has upgraded the stock on valuation grounds.
- Peter G waves flag for US shipping rebirth
America's marquee owner says private equity has pumped up ownership and now needs knowhow.
- Dry-bulk stocks suffer rout in New York
US-listed shares of Safe Bulkers, Star Bulk Carriers and Scorpio Bulkers are plunging.
- Star shares fall after loss and downgrades
New York-listed bulker owner's stock price loses 20.2% after result misses forecasts.
- India okays Cochin IPO
Government to sell off its 10% stake as it seeks listing for ferry shipyard.
- Heavy hitters added to Hafnia Tankers board
John Ridgway, Esben Poulsson and Jan Bech Andersen brought on board as owner piles up profit.
- PDZ cuts Q1 loss
Revenue rise boosts Malaysian boxship owner; more improvements expected.
- Paris attacks: we must show resolve
German owners' boss expresses disgust at "barbaric" jihadi murders and urges shipping to stand firm against threat.
- Euronav sells suezmax
New York-listed giant said to have secured over $22m for vintage tanker.
- Minoan in the money
Emanuele Grimaldi-led Greek ferry company turns a profit for the third quarter of the year.
- Uni-Asia turns to red
Singapore-based boxship and bulker owner hit by rising costs in third quarter.
- Courage moves to bolster balance sheet
Hong Kong-listed owner sets up near $11m shares placement to strengthen its financial position.
- DVB arrests drillship
Odfjell-operated Deepsea Metro II held as owner Chloe Marine defaults on loan.
- 'Perfect storm' drives Deutsche downgrades
Bank cuts ratings on trio of public bulker owners as raft of ships for sale threatens loan covenants.
- Sembcorp wins FSO
Singapore yard to build storage unit for Modec's Culzean work in the North Sea.
- STX to axe 800 jobs
South Korean shipbuilder also lining up salary cuts to stave off collapse in 2016.
- Civmec eyes Australian yard
Domestic engineering group conducts due diligence on builder and repairer Forgacs.
- Double hit for Alang
IFA Global says Indian shipbreaker facing lower steel scrap prices and fall in rupee.
- Lines suspend Europe run
Coscon, Yang Ming, Hanjin and Evergreen halt service from Asia due to seasonal demand.
- Maersk taps Eurobonds
Danish liner giant picks up cheap finance with raid on financial markets closer to home.
- Precious culls more ultramaxes
Thai shipowner has now walked away from first four in 14 ship order in Chinese shipbuiler.
- DSME confirms Maran Tankers double
Greek shipowner takes VLCC newbuilding tally at favourite South Korean yard to eight ships.
- BW Group credit rating unaffected
Delay to BW Pacific IPO won't hurt shipowner's finances, but it may have to cover pre-delivery finance.
- Star Bulk pushes back four newbuildings
New York-listed bulker owner reveals quarterly loss that's slightly deeper than expected.
- POSH resumes buyback
Singapore offshore marine services provider takes advantage of drop in share price to acquire more stock.
- Box Ships preps move to OTC after de-listing
Michael Bodouroglou-led shipowner is de-listed by the New York Stock Exchange.
|NOVEMBER 18, 2015|
- News reports: Chinese investigating liner carriers over surcharges
- CP publicizes $28b consolidation offer for NS
- BWR: Carriers suspend Asia-ECNA loop
- CSX fast-tracks S.C. site for industrial development
- ITC studies U.S. economic impact of TPP
- House passes (another) stop-gap highway patch
- 57 ships enrolled in MSP even though 60 can receive stipend
- Crowley starts $48.5 million pier project in San Juan
- project44 to offer free API assessments for carriers
- Global Shippers' Forum questions benefits of carrier alliances to shippers
- Transportation Insight acquires BirdDog
- AirBridge Cargo adds two more 747-8 freighters
- Gov. McAuliffe promotes Va. products in trade missions to Canada, Mideast
- Ag trade groups get 2016 USDA export promotion funds
- TransAtlantic AB sells container, ship management operations
- HKIA posts 2% growth in cargo throughput
- Transportation stocks rebound after rough week
- UPS offers $1.28b in senior notes
|NOVEMBER 18, 2015|
- US fuel oil stocks rise for tenth straight week
Total stocks at their highest since 2010.
- ExxonMobil: More customers switching to new ECA category fuels
Says independent laboratory tests prove good stability and compatibility with other marine fuels.
- Barclays predicts oil demand growth will outstrip current consensus
'The industrial sector has played little part in this demand growth; the drive has come from the end consumer.'
- IBIA Convention to return to Europe in 2016
'This is a real feather in Gibraltar's cap,' says Minister for Shipping.
- Interview with VPS for Platts Mediterranean Bunker Fuel conference
Ferry Van Eykel shares his thoughts on the implications of the new ECA sulphur limit.
- OW: 16 companies in interpleader applications to UK courts
Growing list of shipping companies seeking protection from vessel arrests.
- Mediterranean fuel oil market at nine-month low
On oversupply of cargoes.
- Lukoil boosting supply at key Russian Black Sea ports
New barge to supply MGO. Also gearing up to provide ECA-compliant ULSFO in the area.
- Sovcomflot completes fuel-saving fleet renewal programme
Profits almost triple on the back of stronger revenues.
- 'Leading ship owner' orders shore power systems
Order includes 'first project of its kind' installation on vessels.
- Brightoil to receive $62 million investment funds
Capital comes from two groups, says Hong Kong-listed firm.
- Sovcomflot completes fleet renewal programme
9M profits almost triple on the back of stronger revenues.
- BMS United Bunkers introduces offshore service
Bunkering service is now managed by 'dedicated professional team', says company.