|OCTOBER 31, 2018|
- Cosco Shipping Ports profits soar 33.5pc, but trade war blights future
- OOIL Q3 sales up 7pc to US$1.55 billion as per box revenue rises .01pc
- Togo's Port of Lome tops Lagos as West Africa's No 1 container hub
- IBM and Maersk struggle to sign carriers to join blockchain scheme
- Gulftainer to invest up to US$3 billion in Mideast, US, Africa and Asia
- Popularity of shipboard exhaust scrubbers grows as cost fears fade
- Gap closes among top-rated 3PLs - DHL, XPO and CH Robinson
- India, Bangladesh sign cargo, passenger, port and waterways pacts
- SCPA celebrates Inland Port Greer's fifth year of beating projections
- IMO provide downloadable 'toolkits' to cut ship and port emissions
- BAWAT 'revolutionary' ballast water treatment exterminates with heat
- Chevron Marine, ExxonMobil offer lubricants for low sulphur fuel use
- Danish supply chain giant DSV exits CEVA bidding after offer rejected
- Remote-controlled tug is tested on Lufthansa planes at Frankfurt airport
- Etihad and Saudia start codeshare, agree to collaborate on cargo
- Oman Aviation Group signs 2 deals to enhance air cargo capabilities
|OCTOBER 30, 2018|
- Govt has taken various policy decisions & initiatives to increase the share of Indian seafarers at global level: Mansukh Mandaviya
- HMM targets capacity of 100 m TEUs & $ 10 bn in annual revenue by 2022
- SCFI Asia-US rates surge
- SCI bags award & commendations in Dubai
- UK freight forwarders not too happy with budget
- Paradip Port implements innovative Mediterranean Mooring type of berthing
- Snowman Logistics sees robust quarter-on-quarter growth
- Govt has identified 12 champion sectors to promote exports: Suresh Prabhu
- Shippers & LSP Business Forum on CTL 2018 in Vadodara generating tremendous response from fraternity
|OCTOBER 31, 2018|
- Lucrative markets
- Spanish food retailer goes for gas
- Growth stemming from DB rivals
- Award for Geodis Italy innovation
- Another multimodal link from port of Barcelona
- Fourth B747F in Cargologicair's fleet
- Noerpel expecting excavators in Munich
- Two new faces at Hill Dickinson Hong Kong
- BBC and Seaboard go climbing on the Andes
- Plans for new oil export terminal at Corpus Christi port
- Qatar Cargo rolls out automated mail management system
- Strong growth in domestic market
- JV to improve rail infrastructure in Saudi Arabia
- Guadeloupe Port Caraïbes sets up research alliance
- "Curiosity of the Day"
- Siemens and CDG Airport extend service contract
- Goods going the high speed way in Italy
- Istanbul says "yes", Mexicans vote "no"
|OCTOBER 30, 2018|
- Corpus Christi takes on second shore-based VLCC project
- ECSA presses EU to drive change in South Asian ship recycling
- Small surplus, stable premiums at German defence club
- Euronav runs up fresh losses in Q3 but says market is improving
- Congo builds sea trade self-reliance
- DEME chooses LNG over scrubbers
- Euronav fires broadside against IMO 2020 scrubber drive
- Uncertainty over future of Croatian shipbuilder Uljanik
- Global Ship Lease in merger with Poseidon Containers
- Safety 2: Digging deeper than human error to root causes of shipboard incidents
- Pakistani recyclers switch focus to bulk carriers
- Varun Chhabria to drive Greenergy's bunkering ambitions
|OCTOBER 30, 2018|
- Air freight market heating up fast as the peak season gains height
- Shipowners Global Ship Lease and Poseidon Containers to merge
- HMM unveils ambitious plan to double box ship capacity with new ULCVs
- Lufthansa Cargo stays positive as nine-month results bring good and bad news
- IMO launches initiative to help remove plastic litter at sea
- It's coming....The Loadstar Premium is set to launch next week
- Pirates seize 11-strong crew of Maersk-chartered containership off Nigeria
|OCTOBER 30, 2018|
- ABS Executive Kirsi Tikka discusses IMO 2020 Sulfur Cap
- Two-deck ferry will become four-deck cruise vessel
- U.S. yard contracts boost ST Engineering marine sector order book
- Deltamarin and Elomatic win MV Werften cruise ship design contract
- Why Euronav is skeptical on scrubbers
|OCTOBER 30, 2018|
- Ince chair pledges no diminution of shipping reach after Dadds takeover
Ince & Co has been acquired by Gordon Dadds in a deal that will create the largest listed law firm...
- Cosco Shipping Holdings suffers without state subsidies
Excluding OOIL's contribution, liftings increased by 7.3% to 5m teu, while liner shipping revenue expanded 8.5% to Yuan22.6bn
- Marine consultancy offers 'fresh thinking' on emerging risk exposure
The tsunami of regulatory red tape engulfing shipping has opened the way to sell services to shipowners, charterers and insurers...
- Shipping lines not future competitors, says leading forwarder
Jens Bjørn Andersen says fowarders have a 'far larger value proposition' over their liner counterparts
- Cutting CO2 output is the biggest challenge facing shipping
No ifs, no buts - the goal is clear. Shipping needs to phase out CO2 emissions from shipping completely, ICS chair...
- Rotterdam sees continued box growth
Rotterdam handled 10.8m teu in the January-September period, a rise of 5.7% on 2017 levels
- Piracy incidents blight Gulf of Guinea
High alert in Gulf of Guinea as boxship crew abducted and two vessels attacked within an hour
- DryShips buys four vessels from Economou unit
The three newcastlemax bulkers and an aframax tanker will be delivered to DryShips before the end of the year
- Cainiao books 1,000 containers for shopping festival
Chinese e-commerce giant is expanding its online shopping extravaganza, which drives a tariff of 100m parcels across the country and...
- Euronav warns against scrubbers
Tanker owner suffers increased losses in the third quarter but remains confident of market fundamental improvements
- Nicholas Inglessis elected chair of UK Club
Industry veteran Greek has been director of Samos Steamship since 1991
- EU sets out key tests for consortia block exemption
Further container line consolidation would require extensive consideration and scrutiny by competition authorities before it could be approved, regulator says
- Daily Briefing
Ince goes public with Dadds deal | Why a Cosco-Sovcomflot tie-up might make sense | Overlooking safety is not being...
- Cosco Shipping Ports maintains volume growth but sees weaker end to year
Third-quarter volumes rose 11.1% to 30.8m teu as some of the equity terminals slowed down
- China Merchants Energy Shipping to benefit from VLCC recovery
Shenwan Hongyuan Securities estimates CMES's average VLCC TCE in 2018, 2019 and 2020 to reach $21,000, $30,000 and $50,000, respectively
- MISC wins $176m FSO contract from Idemitsu Kogan
The seven-year contract will be for work at the Sao Vang and Dai Nguyet Development Project offshore Vietnam
- Global Ship Lease in merger deal with Poseidon Containers
Global Ship Lease chief executive Ian Webber will continue as chief executive of the combined company
|OCTOBER 30, 2018|
- New ILWU leadership team certified
- Cost of low-sulfur rule to shippers slowly comes into view
- JNPT rail dwell times decrease again in September
- CMA CGM levies low-sulfur surcharge on Asia-Europe
- Infographic: NY-NJ port's quest for chassis fluidity
- Shippers turn to technology for sharper supply chain vision
- Top Europe ports tracking growth despite slowing Asian trade
- US warehouse buildout can't dent record vacancy lows, rent highs
|OCTOBER 30, 2018|
- Cosco Shipping Energy slumps to nine-month loss of $39m
The Shanghai- and Hong Kong-listed tanker arm of Cosco suffers from weak tanker earnings amid fleet expansion.
- Cosco Shipping Holdings sees profit fall
Container giant Cosco Shipping Holdings has seen its third quarter profit fall despite the takeover of OOIL boosting its top line. OOIL set to flex its muscles, says new chairman Hong Kong-listed Cosco Holdings recorded net income of CNY 821.8m ($118m) in the three months to the end of September, down from CNY 872.4m 12 months previously. Revenue climbed from CNY 24.1bn to CNY 37m year-on-year
- Warm, wet winter pressures capesize rates
Downside risk in the capesize bulker market has emerged in the forms of a warm, wet winter in East Asia and underperforming Chinese imports of coal and iron ore, according to a Refinitiv analyst. While holding firm above $18,000 per day for most of October, the weighted time charter average for capes on the Baltic Exchange has failed to break the $20,000-per-day market. "The capesize market is f
- Rodgers happy to fight 'lonely battle' against scrubber herd
Euronav chief executive content to go against conventional wisdom in approach to IMO 2020.
- Seabury Maritime strengthens top team
Former Oldendorff and Maren Group execs to head digital and green units at US bank.
- Grupo TMM posts small profit in third quarter
Grupo TMM posted profits - if only tiny ones - for the third quarter of 2018. The Mexican shipowner reported MXN 1.2m ($59,893) in operating income made in the third quarter, for a total of MXN 50.5m through 30 September. Last year, the company had MXN 26.4m losses in the third quarter and MXN 45.2m in the first nine months of 2017. Revenues have dropped year over year, from MXN 1.8bn in the fi
- Philippines warns of imminent pirate attack
Abu Sayyaf terrorists plotting to kidnap crews in Sabah, coast guard says.
- "Renegade" Oxygen Maritime tanker to be sold in Singapore
UK court rules that Megacore Honami can be arrested after going "on the run" from creditor TMF in "flagrant breach" of covenant.
- Judge bars Baltimore port workers from illegally striking
A federal judge is keeping Port of Baltimore workers on the job after an apparent strike attempt shut down one of the port's terminals Monday. According to a complaint filed in Maryland district court by the Steamship Trade Association (STA) of Baltimore, mechanics and container handling equipment operators at the Seagrit Marine Terminal either walked off the job or never showed up, in defiance o
- Tufton Oceanic Assets in black for third quarter
Tufton Oceanic Assets was profitable in the third quarter as it continued to build up its fleet. London-listed Tufton Assets reported an operating profit of $0.018 per share for the period. Tufton Oceanic Assets takes full control of LPG carrier Tufton Oceanic Assets aims for $100m share sale The company, which has now invested its IPO proceeds and is eyeing further growth, paid a dividend of
- Skangas inks supply deal with Gothia Tanker Alliance
Skangas has inked a deal with members of the Gothia Tanker Alliance to supply LNG as a marine fuel to their ships. The deal covers both existing vessels and newbuildings owned by Furetank Reder, Erik Thun and Rederi AB Alvtank, a statement said. Furetank managing director Lars Hoglund said investing in LNG fueled vessels contributues to the Swedish Shipowners' Association's target for zero emiss
- S Bulkers flips ship for profit within 12 months of purchase
Athens-based S Bulkers is said to have struck a deal to dispose of a bulker at a profit, less than a year after buying it. Greece's Load Line linked to supramax from Nautical Bulk Stalwart sells final chemical tanker from its original fleet US brokers said the Dimitrios Souravlas-led shipowner has sold the 37,000-dwt Sea Bronze (built 2007) to a Vietnamese buyer for $11.5m. While lower than
- Samos Steamship's Inglessis takes UK P&I Club chair
Greek director takes over from Alan Olivier at insurer.
- SDR refunds premiums for laid-up vessels
German insurer also freezes fees in tough times for domestic sector.
- Diana Shipping pays $63.25m to redeem notes
Diana Shipping has set cash from a bond issue to work to repay established debt. New York-listed Diana closed a $100m bond issue in Oslo this summer and has now completed the redemption of a bond which was to fall due in 2020. It has paid $63.25m to redeem 100% of the notes.
- Seaport Global positive on VLCC market recovery
Seaport Global is backing the big tanker market to remain in balance next year following a stellar start to the fourth quarter boosted by seasonality and fresh sanctions against Iran. Analyst Magnus Fyhr says while investors are concerned about VLCC newbuilding delivered in 2019, he feels increased floating storage, scrapping ahead of IMO 2020 and rising US exports will assist the market next yea
- Topaz snaps up Nam Cheong anchor-handlers
Middle East owner boosts capacity as it returns to profit in third quarter.
- Ship Finance International confirms sale of oldest tanker
John Fredriksen-led Ship Finance International has confirmed that it offloaded its oldest tanker - but the buyer remains unknown. As TradeWinds previously reported, the Norwegian shipowner announced the $20.7m sale of the 300,000-dwt Front Ariake (built 2001) to an unnamed, but unrelated, company midday Tuesday. The deal includes a $3.4 million interest-bearing loan note from sister company Fron
- Iranian sanctions 'really biting', says Paddy Rodgers
Euronav chief explains the impact of changing trade patterns and idling of NITC fleet.
- Nasdaq gives Globus Maritime thumbs up
Globus Maritime is back in NASDAQ's good book. The Greek bulker owner said it was back in compliance with the exchange's $1 per share minimum closing bid price, after staying above the threshold from Oct. 15 to Oct. 26. Globus received word of its compliance in a letter Tuesday. The company's shares rose 0.9% to $6.14 in midday trading Tuesday.
- NATO reports vessel hijacked off Congo
Another ship came under attack in Gulf of Guinea, but is reported as safe.
- Van Uden Shipping boss steers outfit to better times
Julie van 't Hoff describes the challenges facing the Dutch group's shipping unit and details her rise to a managing director in the family firm
- Euroseas preps stock sale and refinances in bid for expansion cash
Euroseas is raising funds as it eyes opportunities to expand its fleet. The New York traded Greek shipowner announced Tuesday that it is looking to raise $4.2m through the sale of new shares. The company also revealed that in August, took out a $30m loan to refinance existing debt, in addition to help fund new acquisitions or provide working capital. "We constantly evaluate vessel purchase opp
- Princess loses title after marrying NYK's Moriya
Japan's Ayako no longer royal after ceremony with "commoner".
- ICBC supramax stuck in Iran as sanctions loom
Officials of giant Chinese bank's shipping department work to secure the release of detained vessel and avoid possible exposure to US measures
- Bahri sees upturn in VLCC sector by mid-2019
Executive of Saudi shipowning giant says sanctions against Iran should spur improvement in crude tanker trades
- Wilson buys six bulkers from Stromberg
Norwegian owner takes control of cargoships it was chartering from compatriot.
- Euronav puts scrubbers in the spotlight amid third quarter loss
New York-listed shipowner raises three key objections to exhaust gas cleaning systems.
- Hill Dickinson expands Hong Kong team
Law firm adds Edward Liu and Antony Cowie as counsel.
- Bohai Ferry orders $60m ro-pax double
Chinese owner opts for Yantai CIMC Raffles for fleet expansion.
- Laskaridis: no offshore push after PSV buy
Greek owner confirms auction acquisition but says it is one-off.
- DryShips to buy four ships from Economou
News of acquisitions comes as diversified shipowner reports another profitable quarter.
- Noble expects third quarter loss due to restructuring expenses
Hong Kong-based commodities trader says nine month losses will likely top $300m.
- Global Ship Lease sees third quarter profit cut in half
US-listed container leasing firm hurt by weaker rates from non-CMA CGM chartered tonnage.
- Global Ship Lease to merge with Poseidon Containers
Combination will create a company with a fleet of 38 vessels focused on mid-sized and smaller vessels.
|OCTOBER 30, 2018|
- Oil price drop gives breathing room but market not out of woods yet: IEA's Birol
The recent drop in oil prices by around $10/b is a welcome change and gives breathing room to oil consumers, but the market is not out of the woods yet and the coming months will be very challenging, Fatih Birol, executive director of the International Energy Agency, said Tuesday.
- Iranian VLCC Dover anchored off Batu Pahat, West Malaysia: cFlow
The Iranian VLCC Dover was anchored and stationary off the coast of West Malaysia near Batu Pahat STS zone as of 0052 GMT Tuesday, having arrived Monday, at a time when all eyes are on Iran's crude and condensate exports with US sanctions snapping back in six days' time.
- NYMEX contango eases after volatile session
Contango in NYMEX crude futures eased in afternoon trading Tuesday, despite prompt-month declines across the oil complex.
- TANKERS: Euronav upbeat on pre-IMO 2020 tanker market opportunities
Dirty tanker owner Euronav believes it "should have the market rocking on our side" in 2019 and 2020, even without scrubber-fitted tonnage in the global 0.5% sulfur bunker fuel environment, a senior executive said during its third-quarter 2018 earnings call Tuesday.
- Demand from Singapore for fuel oil leaves Europe short of product
The European fuel oil market has become quiet dry as demand from Singapore has drawn vast volumes from typically net-long Europe, resulting in a spike in Suezmax freight rates, sources said Tuesday.
- NWE M100 fuel oil slides on short cutterstock availability: sources
Prices of Russian M100 fuel oil in Northwest Europe have begun to slide due to a lack of cutterstock in Europe and expensive gasoil, despite the active fuel oil arbitrage east.
- China's Sinopec to supply first IMO 2020 compliant bunker fuel from Aug 2019
LSFO being produced is being sent to laboratories for testing, with the tests expected to run till February next year, a source said.
- External: Marine Bunkering(Rotterdam)B.V.
- Singapore front month HSFO time spread at 3-month high on firm fundamentals
Going into 2019, the HSFO market will likely stay backwardated as the overall supply tightens with the upcoming IMO 2020 rule.
- Cracking margins pilot Asian sweet crudes amid tepid year-end buying
An oversupply of condensates and an influx of Vietnamese crudes weighed down on trading outlook, sources said.