|JUNE 8, 2017|
- Port operations in Arab Gulf region hit by diplomatic crisis: ISS
- Hapag-Lloyd becomes latest carrier to impose box booking cancellation fee
- MOL to levy US$300/TEU Asia-southern Africa rate hike July 1
- LA/LB ports not ready to handle ULCVs: Drewry
- Global trade volumes are up 1.4pc in Q1
- NACPC starts cooperative, 40-ft chassis pool at port of Charleston
- China India Express Service (CIX) starts calling at DaChan Bay Terminals
- Removal of paperwork leads to increase in Russian rail freight traffic
- India's JNPT port productivity rises with new customs' clearance service
- N American freight market is still picking up with 4pc growth in April
- HK Airlines and Virgin Australia to start codeshare partnership
- EU and TSA agree on mutual recognition of airfreight security regimes
- United faces US$435,000 fine for allegedly operating non-airworthy aircraft
|JUNE 7, 2017|
- 'Softlink had started working on GST strategy more than one year back'
- Avashya Foundation launches RAHAT "JAL HAI TO KAL HAI" initiative in Osmanabad District of Maharashtra
- Cabinet approves agreement between India & Cyprus on merchant shipping
- CMA CGM reduces CO2 emissions by 4 pc in 2016
- Diplomatic crisis in the Gulf impacting shipping, cargo movement
- Nitin Gadkari unveils in-house magazine SCI Sandesh at SCI Head Office
- Panama Canal publishes proposal for modifications to tolls structure
- India's seafood export at all-time high in 2016-17: MPEDA
- MoU between India & Korea for export credit of $ 9 bn approved
|JUNE 8, 2017|
- UK pallet network invests in new northern hub
- Stef goes shopping in Spain
- Alaska: new facility increases fleet efficiency
- Top drawer appointment at Seacube
- HNA implements global strategy with Atlas Air
- K Line honoured for socially responsible investments
- Handling clothes for cyclists
- Strikes in Spanish ports to last?
- Railfreight carrier boosts London business
- Cargo MoU between Royal Air Marco and Etihad
- Karine Guenan to lead new ATR department
- Expanding in Sydney
- More trains between the Ruhr and Milan
- FTA votes for De Jong to drive its post-Brexit policy
- New Indian client for MOL
- PAL returns to KL
|JUNE 7, 2017|
- Estonia to part-privatise Port of Tallinn
- European shortsea market caving in
- Container lines stop all Qatari bookings
- Safety at Sea Awards shortlist revealed
- BIMCO president Papagiannopoulos to push digitalisation
- Ships face new security measures ahead of China BRICS summit
- Mitsubishi HI wins ferry order and re-organises ship design team
- Shipping proceeds on Wall Street just passed USD4 billion mark
- Bangladeshi ship breakers protest new tax
- Surge in Indian iron ore shipments to China
|JUNE 7, 2017|
- Container lines scramble for new trade routes as Gulf strengthens Qatar 'blockade'
- OOCL axes services to port of Gothenburg while labour dispute continues
- Containership supply tight, but carrier clout brings charter rates back down
- Robert Sappio appointed CEO at SeaCube Leasing
- Industry slow to adopt Uber-for-freight model
- IATA AGM in Cancun: where the top dogs bite on the big stories
- The $50bn food fraud scam putting Australia's iconic brands at risk
|JUNE 7, 2017|
- Four Stena newbuilds to have bio-repellant antifouling
- KHI gets DNV GL AiP for non-spherical LNG tank
- VIDEO: NASSCO completes eight ship ECO tanker series
- Marshall Islands court rules against Frontline
- Shipowners look to EU and China to lead on climate
- MAN 175D high speed engine gains Type Approvals
- Damen Galati to build two hybrids for BC Ferries
- John Temple named NNS VP of strategic sourcing
- USCG issues another safety alert on fuel spray fires
|JUNE 7, 2017|
- Moody's warns of tough times ahead for German shipping lenders
Top five lenders see aggregate increase in non-performing loan share
- Panamax bulker earnings sink to eight-month low
Fewer coal cargoes from Indonesia reported
- Petrofin sees slow rebound for ship finance
Greek ship loans slump by 9% but 'worst may be over' for banks
- Diplomatic crisis to hit Qatar's LPG ships
Milaha's LPG carriers will have to change behaviour as tensions mount
- Qatar crisis threatens Hapag-Lloyd rights issue
Qatari and Saudi shareholders backstopping 50% of $400m capital increase
- Papagiannopoulos crowned new BIMCO chairman
Digitalisation and reducing burden on ships' masters priorities for next two years as Kaptanoglu named as body's first woman president-elect
- New Mombasa-Nairobi railway opens
Chinese-built link between East Africa's largest port and Kenyan capital promises to significantly reduce logistics costs
- Charter rates start traditional summer slide
With the mini rate boom over, some owners will be more relaxed than others over what could prove to be a long summer
- Trade disruption from Qatar blockade spreads
Everything from logistics supply chains to shipping services and banking transactions are being affected
- Singapore and Gibraltar may take some of Fujairah's bunkers trade
Saudi/UAE and Qatar spat to shift volumes to other centres, says industry veteran Low
- CMA CGM, MSC and Milaha services affected by Qatar blockade, warns Jensen
Containers can be rerouted via Oman, another industry veteran says
|JUNE 7, 2017|
- Seattle-Tacoma cranes to aid mega-ship handling
- Port Everglades adds cranes to large-scale investment
- New tech helps shippers pump up 'volume LTL'
- Carriers poised to profit from higher trans-Pac contracts
- Bangladesh port expands as shippers avoid Chittagong
- Mammoet lifts big pieces for Sasol plant in Louisiana
- Chennai port gains from rail push
- Russia finds St. Petersburg terminal guilty of price fixing
- Sliding container ship charter rates signal capacity restraint
- Carriers suspend all container bookings to and from Qatar
- Ships calling Xiamen face inspections ahead of summit
|JUNE 7, 2017|
- ECSA: China and EU should lead on CO2 rules
Communique from European shipping group cites US withdrawal from Paris accord.
- Trafigura's oil profit lower, but coal better
Major charterer sees higher volumes in oil products, but arbitrage opportunities are still lacking.
- Four owners vying for SeaOne CGL carrier newbuildings
Four shipowners have submitted bids for 12 pioneering gas carrier articulated tug barges (ATBs) that SeaOne is poised to order at Samsung Heavy Industries. SeaOne Holdings president Bruce Hall tells TradeWinds that a US company is the leading contender in the race to own the world's first compressed gas liquids (CGL) carriers, alongside two other US companies and one international outfit. He dec
- Fortress closes in on Heidmar deal
Nearly a year after commencing a tender process and suffering a few false starts, it appears Connecticut-based pools power Heidmar is finally on the verge of selling the company. Expect US-based financial firm Fortress to emerge with full control of the company when the deal is announced near term, according to sources familiar with the process. The main change from last reports in March is that
- International Seaways mulled products sales before choosing finance scheme
International Seaways considered a sell-off of its older products tankers as a liquidity boost before settling on a refinancing of its main credit facility, market sources said this week. The foreign-flag spin-off of Overseas Shipholding Group explored a sale of multiple products tankers of 2004 vintage, with other units possibly thrown in, but ultimately decided against the tack, according to pe
- Gener8 hires UBS for M&A advice as suitors line up
Investment bank retained after Idan Ofer overture, but could have plenty more to do as takeover talk grows
- NRG Maritime acquires its first tanker
A new Greek tanker outfit backed by a member of the wider Chandris clan is hitting its stride in Athens, buying its first vessel with an ambition to add more in the future. NRG Maritime has emerged as being behind the purchase of the 5,900-dwt chemical/products tanker Cansu D (built 2005). The Istanbul Shipyard-built tanker was reported sold last month for about $6.5m, by Turkey's Marinpet Petrol
- Astra doubles up in containers with first boxship addition in three years
Greece's Astra Shipmanagement has made its first containership acquisition on the secondhand market since it was established nearly three years ago, over which time is has doubled the size of its fleet. The company revealed this week that it has incorporated the 1,700-teu Anassa (built 2006) into its fleet. The vessel's IMO number shows this is the HS Smetana, which a few brokers reported sold at
- Pappas to drop MR order plans at Hyundai Mipo
Tanker outfit PST unlikely to follow up on LOI signed for up to four newbuildings at Korean yard
- Shanghai Shipyard wins mini-capesize bulker contract
State-owned Shanghai Shipyard has secured up to three mini-capesize bulker newbuildings. The China State Shipbuilding Corp-controlled shipyard has been commissioned by Platano Eesti of Estonia to construct two firm 108,000-dwt newbuildings for delivery in 2019. The deal includes one option. The price-tag of the newbuildings has not been disclosed.
- Modern VLGCs fight for Panama slots in competition with boxships
Canal's newer, higher tolls come as neo-panamax VLGC owners complain of tight capacity.
- Lack of arbitrage forces US Gulf cargo cancellations
Seasonal slowdown has VLGC owners bracing themselves for a sticky summer
- Dalian Trawind takes fleet to six with another traditional panamax
Dalian Trawind Shipping has bought a second traditional panamax boxship. The Chinese domestic operator has emerged as the buyer of the 3,739-teu Doukato (built 2002) from Nasdaq-listed Diana Containerships for around $6.1m, with delivery set for next month. Diana Containerships acquired the vessel in 2011 for $33m. Dalian Trawind bought its first vessel in this class, the 4,990-teu Xin Feng Shan
- 'It may cost taxpayers hundreds of millions'
German politicians have expressed worry over the impact of the Rickmers insolvency. Norbert Hackbusch of the left-wing party Die Linke has voiced fears that it might cost the taxpayer "hundreds of millions of euros". His comments came with memories still fresh of HSH Nordbank's decision last year to write off €550m ($620m) of Norddeutsche Reederei H Schuldt debt. That caused an outcry in Hamburg
- Rickmers plan was never going to fly, says banker
HSH Nordbank's decision to pull the plug on an outfit it has supported for years marks a big shift in German banks' relations with shipowners, finance sources say
- Digital forwarder claims solution to overcome costly no-shows
CMA CGM is attempting to impose additional fees on shippers for costly late cancellations or "no-shows". On 1 June, the liner operator introduced a cancellation fee of $150 per teu on its service from Northern Europe to the Red Sea, Middle East and Indian subcontinent. But FreightHub, a Berlin digital freight forwarder for the Asia to Europe trades, is breaking with the system of imposing fines.
- Milaha Maritime set to be hit hard by Gulf crisis
Local and international services face massive disruption as a result of neighbours cutting diplomatic and trade ties over accusations of emirate's support for terrorism
- Growing fleet confirms mutuality to be the best solution
The fleet insured by the 13 International Group clubs has risen by nearly 4% over the past year to 1.15 billion gross tons - an increase of more than 50% over the past decade. International Group chairman Hugo Wynn-Williams points to the record tonnage in the annual review as "a testament to the continuing attractiveness and efficiency of the mutual system in delivering the best solutions for shi
- P&I mutuals weigh move into war risks
International Group investigates potential benefits of splitting cover from hull insurance
- Skuld liquidity moves up to exceptional
The capital liquidity of the Skuld marine-insurance group has risen from strong to exceptional following a new assessment by the Standard & Poor's (S&P) ratings agency. Skuld's overall "A" rating with a stable outlook is unchanged, although S&P views the Oslo-based insurer in a positive light. The ratings agency noted that Skuld had just reported its 14th consecutive year of underwriting profita
- Court gives green light to abandonment of Rena wreck
Final judgment puts the cost of salvage work at a massive $650m
- Lifeline deal sees management and backers cash in
Insider backers of Navig8 Product Tankers are pocketing a quick $8m profit on a $30m lifeline they extended to the company in December. The private-equity funds subscribed to a preferred-shares issue seven months ago with a proviso that a 20% premium "bonus" be added to the principal amount in the event of a change of control in the company. That change is exactly what is happening as New York-l
- Judge rejects Frontline's bid to put DHT and BW in check
DHT says Marshall Islands court found 'no likelihood of success' in tanker giant's lawsuit.
- Swedish owner advocates green vessels at United Nations
Terntank duo address UN on using LNG as a fuel and strong need for dedicated funds to share burden of green investment.
- Rio Tinto doubles daily rate for Diana cape
Greek bulker owner secures extension of up to 17 months for 2006-built bulker.
- V.Group goes ahead with simpler structure
Shipmanager eliminates unnecessary reporting layers and increases control of yet-to-be-hired CEO.
- Sasco steps up ferry service to Japan
Russian owner increasing sailings from Sakhalin island to Hokkaido.
- MPC adds three more boxships
German company's Oslo spin-off continues to build up its fleet.
- MPC Container Ships adds another vessel
MPC Container Ships has added another boxship to its fast expanding fleet. The Oslo-listed newcomer has reportedly acquired the Aker-built, 2,127-teu containership Conti Elektra (built 2007) for around $6.3m. It would be the fourteenth vessel acquired by MPC in under two months. In April, MPC raised around $100m via a private placement in Norway, where it is listed on the Merkur Market. T
- Maersk Line on neo-panamax fixing spree
Maersk Line has launched a fixing spree in the neo-panamax boxship sector. The Danish operator has taken around eight vessels of 8,000 to 9,000-teu on short term fixtures at rates sharply down on last done. The tally includes four of the so-called Northern J-type neo-panamax vessels controlled by Norddeutsch Reederei H. Schuldt. The 8,814-teu Northern Jubilee, Northern Jasper (both built 20
- Dof Subsea wins five-month charter
IPO-bound owner expects improved financial performance in North America thanks to latest deal.
- Sewol owner's daughter arrested
Yoo Sum-na held three years after fleeing to France in wake of ferry sinking.
- Greek bank lending falls by 8.8% in 2016
Petrofin Research suggests new forms of finance are gaining ground in the wake of biggest decline since 2009.
- Teenagers charged over shipyard fire
Girls accused of starting blaze at revived Scottish plant.
- Polaris orders VLOC trio at Hyundai Heavy
South Korean owner looks to replace some of its controversial VLCC conversions.
- Papagiannopoulos is new Bimco president
Greek executive succeeds Philippe Louis-Dreyfus as shipowners' association also elects first female president designate.
- Attacks on Prime Marine and Navig8 tankers raise concerns
Maritime security executives point to Middle East tensions and a hijacked dhow currently at large.
- Boustead land must be used for shipbuilding after sale
Malaysia says coastal plot in Penang will retain yard function after disposal.
- Maersk Line seeks alternative to Qatar
Danish giant ceases cargo acceptance in the Middle East following latest rise of tensions; Suez Canal unaffected.
- Peter Dohle signs $200m ICBC finance deal
German owner taps Chinese bank for cash for three ship financing projects.
- Mercator secures dredging deal
Indian owner to bank $2m from Karaikal port work.
- CMA CGM further reduces carbon footprint
Container line knocks another 4% off CO2 emissions per container carried.
- Heroin seized from PSV off Turkey
Police raid DR Congo-flagged vessel with $57m of drugs hidden on board.
- Damen wins BC Ferries ro-pax order
Dutch yard to build two diesel-electric ferries for Canadian owner.
- Courage Marine plots share split
Hong Kong bulker owner wants to triple the number of outstanding shares to boost liquidity.
- Qatari fallout already affecting tankers
Diplomatic spat may impact VLCCs, OPEC agreement and force up bunker prices, says Affinity.
- SeaCube names Robert Sappio as new CEO
Container industry veteran steps up to top role at privately-owned box leasing company.
- ICS ties CO2 proposal to UN acidification goal
Shipping trade group's Simon Bennett says developing nations leery of setting cap on carbon dioxide.
- Woodside seals Indonesia LNG supply deal
Aussie firm to initially supply up to 600,000t per annum with option to increase to 1.1mt.
|JUNE 7, 2017|
- Maersk to offer trade financing in six U.S. states
Maersk Line has begun offering trade finance to shippers in six states after successfully piloting a similar program in four countries in E...
- UPS study shows blurred lines between domestic and international retailers
Nearly half of U.S. online shoppers are purchasing items from international sellers, "demonstrating the need for retailers to offer more pe...
- CSX shareholders approve $84m payment for Harrison
CSX Corp.'s preliminary results from its annual shareholders meeting show that shareholders approved, on an advisory basis, the reimburseme...
- DP World bans Qatari vessels from calling its terminals
Dubai-based terminal operator DP World has banned all vessels carrying Qatar's flag from calling its terminals in the United Arab Emirates,...
- IATA: Air cargo 'stuck in another century'
The International Air Transport Association (IATA) wants to break free from outdated processes that hold air cargo back and has adopted a r...
- Port of Oakland looks to move more cargo by rail
Port of Oakland Executive Director Chris Lytle said he wants to increase rail business at the port, which would take more trucks off the ro...
- FMC reviews 12 OTI license applications
The U.S. Federal Maritime Commission (FMC) has received 12 ocean transportation intermediary (OTI) license applications and changes for rev...
- Executive Moves: IATA, SeaCube, Kuebix and BIMCO
Source: Pressmaster/Shutterstock The International Air Transport Association (IATA) appoints chairman of the IATA board of governors, SeaCub...
- Port of Seattle, partners break ground on air cargo warehouses
The Port of Seattle, along with the nearby City of Burien, Wash., and real estate company Panattoni Development, broke ground Tuesday on a ...
|JUNE 7, 2017|
- ANALYSIS: Qatar diplomatic crisis disrupts clean tankers' trades
-Traders split cargoes to skirt restrictions -LR2 demand may be hit on less co-loading - Owners may seek premium for Qatar loading
- TANKERS: QATAR PETROLEUM LOOKING TO TAKE VLCC ON TIME CHARTER - SOURCES
Qatar Petroleum has entered the market to hire a VLCC on a time charter basis for 30 days for possibly storing condensate or crude oil following the cutting of ties with the country by several Middle East states
- TENDER DATA: Turkey's Tupras offers 33,000 mt HSFO for June 18-22: sources
Seller: Tupras, Turkey, Loading June 18-22
- Oil tumbles after EIA data shows across-the-board builds
NYMEX July crude down $2.47 to settle at $45.72/b. ICE August Brent settled $2.06 lower Wednesday at $48.06/b.
- Trafigura expects further growth in oil trading volumes, H1 profit dips
Trafigura, one of the world's biggest oil traders, expects trading volumes of oil and refined products to increase more than 16% in its 2016/17 year to September 30,
- External: Praxis Energy Agents S.A
- Shipping bodies call for EU-China deal on carbon emissions
Industry bodies the European Community Shipowners' Association (ECSA) and the International Chamber of Shipping (ICS) have called for cooperation between the European Union and China in seeking a deal on the regulation of carbon emissions from the shipping industry.
- FUTURES: Crude stable, underpinned by US crude stock draw
- OPEC compliance 117% over Jan-May among members with caps - Platts survey
- OPEC 350,000 b/d above stated ceiling, with Indonesia - Libya, Nigeria combined Jan-May average 101,00 b/d above Oct - Saudi Arabia, Angola deepen cuts - Iraqi production jumps 70,000 b/d
- Grindrod Group CEO Alan Olivier to take early retirement
Mike Hankinson will act as executive chairman in the transitional phase.