Hellenic Carriers monitors market for renewal opportunities Management consolidated under new entity as arrival of kamsarmaxes boosts fleet
Maersk Kampala fire extinguished Containership at anchor 9 nm from Ras Sudr Terminal, Egypt
Independent Tankers posts $4m loss Company blames drop in earnings for VLCCs Ulysses, Pioneer and Ulriken
BW Group embarks on IPO and Oslo listing for LPG division Leading gas shipping company strengthens influence in liquefied petroleum gas sector
Cosco Asia RPG hit confirmed Egypt tightens security with 80,000 troops on guard for further disruption
China Cosco cedes dry bulk crown Carrier reflects on loss-making track record
The march of LNG fuel UASC's gamble on liquefied natural gas makes sense but remains a big risk
Fredriksen eyes Brazil-China crude trade VLCC Front Falcon will load in Brazil at the end of the month
Europe's changing winds A storm of suspicion and hostility is set to sweep up Brussels' maritime policy
Creditors demand to oust STX Group chairman Kang DSME executive is tipped as a successor
P3 confirms Lars Mikael Jensen to run joint fleet centre Partners Maersk, MSC and CMA CGM settle on senior Maersk Line executive to head up London operation
Bourbon buoyed by oil price rises French offshore vessel company makes hefty investments
Ship and container on-time integrity declines Drewry's Carrier Performance Insight report shows worst result since early 2012
Yangzijiang converted four options worth $110m in August Singapore-listed shipbuilder now has 51 options worth $2.9bn on its books
Ocean Rig inks $600m order for ninth drillship at Samsung Nasdaq-listed company must decide on optional further sister vessel by November
V.Group and Seascope join forces to form new brokerage V Scope Risk Management will operate from V.Group's London office
Frontline 2012 reports $38m profit amid warnings of delays at STX Dalian Company realises gains from VLCC newbuild cancellations at China's Jinhaiwan Shipyard
Bourbon charters first nine vessels in 51-ship deal with Chinese Global offshore vessel owner and operator begins 10-year charters
Eastern approaches Appetite for Middle Eastern oil may fall in US and Europe, but be more important to China
Globus reduces loss despite impairment charge Dry bulk owner sights opportunity from 2014 onwards
Rates, recession and 'debt babies' Joint Hull chair Pete Townsend answers underwriters' concerns ahead of IUMI 2013
BW LPG to launch IPO BW LPG, part of Andreas Sohmen-Pao's BW Group, said today it was planning an IPO in Oslo
Judge foils ambush by Excel bondholders EXCEL Maritime's unsecured creditors have failed in their courtroom bid to terminate the exclusivity period during which only the Gabriel Panayotides-led company may pursue a Chapter 11 reorganisation
Ice-class cruise ship planned in Rauma POLAR Cruise Enterprises, a new Norwegian company, said today it planned to have an ice-strengthened cruise vessel built at STX Finland in Rauma
China seeks ASEAN upgrade CHINESE prime minister Li Keqiang is calling for an "upgraded version" of the free trade area involving China and the Association of Southeast Asian Nations
China hull steel production drops less steeply CHINA in July slowed its rate of decline year on year in producing structural steel for building hulls, the national steel industry association said today
Frontline 2012 placement seeks $200M FRONTLINE 2012 said today it was inviting investors to subscribe shares in the company in a private placement meant to raise at least $200M in gross proceeds
Teekay LNG upsizes bond deal PETER Evensen-led Teekay LNG has completed its Norwegian bond offering, increasing proceeds by 30%
Slow drop seen in Japan's LNG demand JAPAN, the world's biggest LNG importer, could see its demand for the fuel drop slowly as it weighs restoration of nuclear power generation, IHS CERA has predicted
Volume seen as Singapore arbitration key SINGAPORE must maintain a heavy volume of day-to-day shipping business for maritime arbitration to thrive, a conference heard today
China vessel exports fall nearly 30% more CHINA's vessel exports fell almost 30% year on year to $17Bn in January-July, customs statistics indicated
Seadrill going ex dividend SHARES in Seadrill will go ex-dividend tomorrow, after an increase in dividend on record interim profits
Indian Oil seeks VLCC INDIAN oil marketer Indian Oil is inviting tenders to charter-in a VLCC for two years, brokers told Fairplay today
Drybulk snarls drop at last CONGESTION in major drybulk ports has decreased for the first time in a month, thanks to a sharp drop in vessel queues in Australian coal ports
IAG Cargo Volume Dropped 7.3 Percent in August Iberia and British Airways' shares of IAG cargo volume. Full-size image International Airlines Group reported cargo traffic of 459 million metric-ton-kilometers in August, down 7.3 percent from 495 million metric-ton-kilometers of cargo in August 2012. From January to August, the merged British Airways-Iberia carrier handled 3.683 billion metric-ton-kilometers of cargo, a decline of...
US Goods Trade Deficit Rose $4.5 Billion in July Chief U.S. goods exports in July. Full-size image The U.S. trade deficit in goods expanded to $58.6 billion in July, up $4.5 billion from June, as exports fell by $1.1 billion to $132.7 billion and imports rose $3.4 billion to $191.3 billion. The total deficit, including trade in services, stood at $39.1 billion,...
Trucking's Peak Season Shift: Industry Outlook for Fall Senior Editor Bill Cassidy examines the change to trucking's "peak season" - timing, trends, capacity - and the larger business outlook for the second half of 2013. Sponsored By: ...
Drewry Eastbound Trans-Pacific Rate Rises $250 Drewry Container Rate Benchmark, Sept. 4, 2013 Full-size image The average spot freight rate in the eastbound trans-Pacific trade rose $250 per 40-foot-equivalent unit this week, achieving 62.5 percent of the proposed $400 per FEU increase recommended by the Transpacific Stabilization Agreement for September 1. The Drewry benchmark rate for shipping from Hong...
US Containerized Imports Increase for Third Month U.S. containerized imports through June 2013. Source: PIERS. Full-size image U.S. containerized imports climbed 1.5 percent year-over-year in June, following growth in April and May, according to advance figures from PIERS, a JOC sister company. U.S. containerized imports totaled 1.5 million 20-foot-equivalent units in June. "As expected, containerized imports grew by no more...
Hyundai Merchant Marine Rebuts Negative Drewry Report Hyundai Merchant Marine said it expects to return to profitability after a long interval of operating losses. In response to a negative report on South Korean shipping lines last week by Drewry Maritime Research, South Korea's second-largest carrier said it is working through various avenues to improve its financial position. "Reports were...
Canada's Trade Deficit Widened in July Canada's international merchandise trade through July. Full-size image Canada's merchandise exports in July slid 0.6 percent month-to-month, while imports inched up 0.6 percent, resulting in a trade deficit of C$931 million (about US$887.3 million), compared with C$460 million in June, according to Statistics Canada. Exports fell to C$39.2 billion in July, driven by...
Maersk Kampala Fire Extinguished Maersk Kampala in 2007. Photo by Andrew McAlpine, courtesy Maersk Line.Firefighters today extinguished a fire aboard the Maersk Kampala which broke out on Thursday as the container ship was preparing to transit the Suez Canal en route to Europe. Some smoke is still emerging from the six containers that caught fire...
Court Dismisses ABF Lawsuit Against Teamsters, YRC for Third Time ABF Freight System's $750 million lawsuit against the International Brotherhood of Teamsters and YRC Worldwide has again been rejected by a federal court. The U.S. Court of Appeals for the Eighth Circuit affirmed a lower court ruling to dismiss the case, which had attempted to overturn YRC Worldwide's wage-cutting agreements with...
Los Angeles Mayor Eric Garcetti to Keynote PortTechEXPO 2013 SAN PEDRO, Calif. - September 3, 2013 - Los Angeles Mayor Eric Garcetti will be the keynote luncheon speaker at the fourth annual PortTechEXPO 2013 on Wednesday, September 11, 2013. Organized by PortTech Los Angeles, the event focuses on connecting the business community, entrepreneurs and investors to explore new environmental, energy, transportation and security technology...
U.S. Merchant Marine Academy Announces Acceptance Day Ceremony and Parade KINGS POINT, NEW YORK, September 3, 2013 - The U.S. Merchant Marine Academy (USMMA) will welcome 237 "plebe candidates" of the Class of 2017 into the Regiment of Midshipmen as they take the Academy oath administrated by Rear Admiral Helis during Acceptance Day Ceremony and Parade, Saturday, September 7, 2013 at 9:30...
Kastrop First Woman Named Chair Of Redwood City Port Commission In June 2008, she was the second woman in history appointed to the Port Commission. The first was Marguerite Leipzig, in the early 1980s, after having served on the Redwood City Council, including two years as mayor. Kastrop was reappointed to the Port Commission in 2012. Kastrop is vice president and controller of...
Combine and Conquer The end of July brought news of three multibillion-dollar merger deals: Hudson's Bay acquired fellow retailer Saks for $2.9 billion, pharmaceutical provider Perrigo paid $6.7 billion for biotechnology leader Elan, and Omnicon and Publicis announced plans to merge into a $35 billion advertising giant. In the same period, the European Commission...
Shell taps APT Shell has emerged as the charterer of four medium-range products tankers under construction at US shipyard General Dynamics NASSCO.
Marenave mulls expansion Marenave appears to be getting ready to accelerate a campaign to expand its fleet of bulkers, containerships and products tankers.
BW plots LPG IPO Another shipowner has landed in Norway where it intends to pursue an initial public offering (IPO) on the Oslo Stock Exchange.
"Cocaine crew" freed Six crew held in Spain for more than a year after a drugs bust have been released on bail.
Bibby extends contract Bibby Offshore has extended a lucrative subsea construction services contract with a long-term partner.
Taiyo's new delivery It was not quite the sort of delivery shipowners are used to, but the US Coast Guard has helped the safe arrival of a baby girl on a Japanese car carrier 100 miles offshore.
Hainan eyes trio China's Hainan Strait Shipping is plotting three new vessel orders as it seeks to renew its fleet.
Hoegh eyes FLNG IPO Hoegh LNG is targeting an initial public offering (IPO) for its floating liquefaction wing within the year.
ESL wins arctic permit Russia has granted permission for Finnish bulker owner ESL Shipping to run vessels on the Northern Sea Route (NSR).
Frontline goes to market Frontline 2012 is selling at least $200m of shares to raise money for its investment in VLGC owner Avance Gas.
Atlantic picks up oldie Atlantic Offshore has purchased an ageing platform supply vessel (PSV) for conversion into an emergency response and rescue vessel (ERRV).
V.Scope tie-up launched V.Group and Seascope Insurance Services have teamed up to form a new marine insurance broking venture.
Four more for YZJ China's Yangzijiang Shipbuilding has continued its order run with four new vessels worth $110.4m.
ITC suffers from weak spot Frontline controlled Independent Tankers Corporation (ITC) fell to a deeper loss in the second quarter as its exposure to the spot market increased.
Shi Wei profit slashed Bulker owner Shi Wei Navigation has been hurt by rising costs in the first half of 2013.
Ferry holed in grounding More than 300 passengers have been evacuated from a French ferry that hit rocks in fog.
Siem finds OCV work Siem Offshore has penned a charter deal for one of its subsea construction vessels.
Alam ties up pair Alam Maritim Resources has secured employment for two of its offshore support vessels, it disclosed Wednesday.
Creditors want Kang out Creditors of Korea's troubled STX group have called for chairman and founder Kang Duk-Soo to quit to boost restructuring prospects.
Oshima foiled in Vietnam Oshima Shipbuilding's new shipyard in Vietnam has been delayed due to incomplete site clearance.
Cash flows for Subsea 7 Oslo-listed Subsea 7 has won a Norwegian North Sea contract from Statoil worth $140m.
Bohai stock for sale China's Bohai Ferry is releasing 204m previously restricted shares on to the market.
Browse to use FLNG Woodside has formally adopted floating LNG (FLNG) technology to develop the Browse gas reserves off Western Australia.
TGP ups bond offering Teekay LNG Partners has successfully raised $150m from the Norwegian bond market, the company has confirmed.
Globus narrows loss Greek bulker owner Globus Maritime (Globus) took another beating in the second quarter due to turbulence in its core markets but did manage to reduce the flow of red ink.
The Role of Finance in Logistics Management A decade ago CFOs took aim at their supply chains to reduce inventory levels and take cost out. With inventory levels near historic lows the finance department is now chasing other opportunities to reduce costs and increase cash flow. However, American Shipper's research demonstrates that many shippers have achieved mixed results working with finance. This one-hour interactive discussion will explore the challenges and benefits of collaboration and best practices for establishing a productive working relationship with the CFO's office.
Drewry's Outlook for Air and Container Freight Rates American Shipper Research Director Eric Johnson will host an interactive discussion with Philip Damas and Martin Dixon of Drewry Supply Chain Advisors. The presentation will draw on airfreight pricing data published in its Sea & Air Shipper Insight, container shipping rates published in its Container Freight Rate Insight and the World Container Index.
Maersk vessel stricken by fire
Procurement software provider CombineNet acquired SciQuest, Inc., a provider of cloud-based spend management solutions, on Tuesday acquired the sourcing software provider in a deal worth $43 million, including $26 million in cash with the rest in common stock.
UP to use aerodynamic pod on intermodal trains Taking a page from the motor carrier industry's use of cab deflectors to smooth air flow over trailers, the railroad introduced technology designed to make double-stack intermodal trains more aerodynamic and reduce fuel use.
Ex-Im Bank, Iowa partner to help small exporters
Maersk's Jensen to head P3 Network Center Lars Mikael Jensen will become the chief executive officer of the P3 Network Center being created by Maersk, Mediterranean Shipping Co., and CMA CGM, if and when regulatory approvals for the alliance have been completed.
Boeing: 500,000 pilots needed by 2032 "The key to closing the pilot and technician gap in our industry is enhancing our training with the latest, cutting-edge technologies to attract and retain young people interested in careers in aviation," Boeing's Sherry Carbary said.
Texas congressman castigates DOJ for airline merger opposition
Maritime event to focus on LNG and 'green technology' 'LNG has virtually no sulphur content at all and so if more stringent sulphur limits are brought in, it would be a real alternative to conventional marine bunker fuel'.
Bulker is first ship to use scrubber in North American ECA Vessel's Master sought approval from Coast Guard to enter and exit ECA using HSFO and Exhaust Gas Cleaning System, rather than LSFO.
Bunker volumes falling at Chinese port Players still blaming lower prices in Russian Far East ports.
Avails tight in Fujairah Some Fujairah suppliers 'fully booked' until mid-September.
Distillate prices falling in Rotterdam and Hamburg Slight congestion in Gibraltar.
Chemical carriers get energy-saving technology Technology can produce 15% better propulsion efficiency, manufacturer claims.
Bomin hires trader for UAE office New recruit has several years' industry experience.
Baltic player extends market reach New office in Hamburg to focus on Russian Far East market.
Asian bunker prices picking up Smooth supplies were available across all key ports.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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