|DECEMBER 6, 2013|
- CSAV stock surges on news of 'business combination' talks with Hapag
- IMO ballast-water respite in offing, but US insists on its own rules
- Guangxi's high-speed rail line starts test run on Gulf of Tonkin coast
- Guangxi Ningming checkpoint trade value up 134pc to US$1.15 billion
- Xian to build China's first hinterland international transit hub port
- Drewry says Transpacific Stabilisation Agreement rate hike erodes gains
- Rising US beef exports exploit Hong Kong, Mexico and Japan sales
- Maersk to make more from P3 than partners on ship size: Macquarie
- NYSA reaffirms support of ILA lawsuit against Waterfront Commission
- M+R Spedag opens second Malaysia office near KL International Airport
- China's HNCA to buy 35pc of Cargolux, to set up Henan joint venture
- Chinese companies to build US$650 million air terminal in Nairobi
- Pilots lose flying skills by over-reliance on computers: FAA report
- Ethiopian Airlines starts thrice-weekly service to Changi Airport
- Qantas codeshares with China Southern, adds China Eastern, Cathay links
- Xian to inaugurate three central Asia 'Silk Road' air services
|DECEMBER 5, 2013|
- FMC's global regulatory summit to discuss carrier alliances, operational agreements
- Hapag-Lloyd, CSAV in merger talks
- NACFS seminar deliberates on pertinent issues
- NYK Container Line receives METI Award
- WISTA India to host India's first Women's Sea Congress on Dec. 13
- India-assembled Harley Davidson Street 750 to be exported
- Antwerp port brings exclusive art exhibition to Mumbai
- HAROPA-Port du Havre recognised as an expert in European port information systems
- MoS expediting award of port projects in current fiscal
- T&DWU celebrates Golden Jubilee at Kandla Port
- Vizhinjam looks for port operator again
- World trade to grow only slightly faster than GDP in 2013: WTO
|DECEMBER 6, 2013|
- First Novosibirsk-Khabarovsk container train underway
- Contargo takes over Neuss Intermodal Terminal
- Gebrüder Weiss planning expansion in Bulgaria and Czechia
- Decision on Eurotunnel's operation of ferry services delayed
- PIA to KLIA
- GLS Denmark receives ISO 14000 and 9001 certification
- Waberer's expands fleet
- Zim to cooperate further with G6 on transpacific trade
- Long Beach appoints new commissioner
- Lufthansa Cargo's second triple 7 in service
- Gruber Logistics strengthened in Asia
- Asstra conveys art to Belarus
- Work on Africa's Nacala road corridor to go ahead
- K Line to open new office in Myanmar
- SAA realigns African network
- New director for the Middle East, India and North Africa
|DECEMBER 5, 2013|
- Magic pipe costs Diana $1.1 million
- Grandweld delivers hybrid seismic support vessel
- Foss Maritime in Alaska JV
- December 05, 2013 Gladding-Hearn delivers patrol boat to NYPD
- Carnival brings an admiral on board
- MaK power for Kleven OCV newbuild
- MLL awarded $14.2 million MSC contract mod
|DECEMBER 5, 2013|
- Genco seeks restructuring advisors
Jefferies and Evercore are in the frame, according to market reports
- Southeast Asian LNG demand tipped as the one to watch
Singapore stands out as a regional gas shipping and trading hub
- Eletson tests bond market with $290m roadshow
Product tanker operator aims to pay down debt and purchase secondhand vessels
- Hapag-Lloyd and CSAV hold merger talks
Proposed tie-up could create the world's fourth-largest box line, overtaking Evergreen
- Greece is open to proposals for any port, says Varvitsiotis
EXCLUSIVE INTERVIEW: Shipping minister tells Lloyd's List that government will work with investors in ports
- The consolidation conundrum
COMMENT: will Hapag-Lloyd and CSAV merger talks succeed where others have failed?
- Agent banks are not obliged to share default information
UK High Court ruling has major implications for syndicated shipping loans
- Insurers flock to Singapore
Competition heats up in the Southest Asian marine market
- Stena Bulk mulls a return to VLCC ownership
Swedish firm eyes large tonnage after more than a decade out of the market
- Nigeria approves new box port at Lekki
Philippines port giant ICTSI will develop the terminal with Tolaram of Singapore
- Hyundai Merchant Marine orders two very large bulk carriers
South Korea-based carrier plans to pay $107m for two 210,000 dwt ships
- Singapore releases Coscol heavylift vessel after two-day detention
Da Cui Yun is freed after the owner settles its debts
- NewLead confirms newbuild bulker acquisition
Debt-for-equity deal paves way for addition to the fleet
|DECEMBER 5, 2013|
- USC looks to Novorossiysk shipyard
State-owned United Shipbuilding Corporation, backed by the Russian Navy, is making a bid for government support to take over the Novorossiysk shipyard and turn it into a major site for repairs
- DryShips suspends ATM offering
George Economou-led DryShips has halted the sale of shares through the 'At The Market' offering launched in early October
- Color Group to raise finance
Color Group, parent company of the Oslo-based cruise ferry operator Color Line, is planning to issue unsecured four-year notes in order to refinance maturing debt, the company said in a statement today
- DFDS waits for final MyFerryLink ruling
Danish Dover Strait ferry operator DFDS Seaways has cautioned against taking as final the Competition Appeal Tribunal's decision regarding Eurotunnel's sponsored rival MyFerryLink
- Finland makes icebreaker U-turn
Finland has reversed a decision in principle to order a new icebreaker from Aker Arctech
- Fall in China shipbreaking seen
The number of old vessels bought and dismantled by major Chinese ship demolishers fell 8.9% year-on-year to 1.85M light tonnages in the first ten months in 2013, a report of China National Ship-recycling Association (CNSA) said today
- COSCO unit lands $54M deal
COSCO Corp (Singapore) clinched orders for two Panamaxes for an aggregate of $54M
- Overcapacity may hurt offshore
Overcapacity could trouble the offshore industry in China, the same way it is currently hurting China's shipbuilding sector, warns Xu Xiulong, deputy manager and chief engineer of COSCO Shipyard at Marintec 2013
- China Huarong settles suits
China Huarong Financial Leasing, a Hangzhou-based financial leasing company, has reached an agreement with compatriot Zhejiang Qinfeng Shipping and its affiliated parties to settle lawsuits involving 262M yuan ($43M) over overdue hire payment
- European naphtha flows to Asia
Arbitrage for European naphtha cargoes into Asia has been enabled, as low margins on gasoline blending have made European refineries disinclined to blend naphtha
- Order surge spells shipbuilding trouble
The increase of orders in Chinese yards this year may not be a good thing for the Chinese shipbuilding industry, said Zhang Shengkun, president of the Shanghai Society of Naval Architects and Ocean Engineers at Marintec 2013
|DECEMBER 5, 2013|
- Industry's P3 Verdict: Mostly Positive
WASHINGTON - The majority of public comments sent to the Federal Maritime Commission regarding the proposed P3 Network were supportive of the vessel-sharing alliance among the world's three largest global container lines. The unprecedented vessel-sharing agreement involving Maersk Line, Mediterranean Shipping Co. and CMA CMA, if approved by the FMC and...
- FMC Seeks More Information From P3 Carriers
WASHINGTON - The Federal Maritime Commission today voted to ask the three largest global container lines for more information on their proposed P3 alliance, stopping the clock on the agency's review of the unprecedented vessel-sharing agreement. Maersk Line, Mediterranean Shipping Co. and CMA CGM can take as long as they want...
- Survey Finds Little Impact on Shippers From HOS Rules
New federal rules that cut into trucking productivity did not push rates up for most shippers in the third quarter, according to a survey by Wolfe Research. The third quarter survey found 68 percent of shippers saw no change in truckload spot rates after revised hours of service rules took effect...
- NY-NJ OKs $105 Million for Port Roads
The Port Authority of New York and New Jersey authorized $105 million for design, construction and realignment of parts of five main access roads to marine terminals in the Newark-Elizabeth port complex. The road improvements are part of a years-long, multibillion-dollar infrastructure investment program that also has included dredging port channels...
- Asian Shippers' Council Applauds Sri Lanka Ban on THC Collection
The Asian Shippers' Council believes the Sri Lankan government has struck a blow for shippers by making the collection of terminal handling charges and other fees by container shipping lines illegal, effective in 2014. The ban on the charges in the South Asian nation is set to be introduced in January,...
- Tension Over Dockworker Hiring Mounts in Port of NY-NJ
Who controls dockworker hiring at the Port of New York and New Jersey? The answer may be decided in court. The New York Shipping Association and the International Longshoremen's Association filed a lawsuit seeking to enjoin the Waterfront Commission of New York Harbor from "interference" with the NYSA-ILA contract's hiring provisions. Both...
- China's Elemental Monopoly
What started as a rather innocuous blip on supply chain radars within the high-tech industry a couple of decades ago, the topic of rare earth minerals has grown into a true strategic concern for U.S. manufacturers and security. Not to be confused with conflict minerals, rare earth elements, or REEs,...
- KKR Seeks Buyer for Turkish Ro-Ro Carrier
U.S. private equity group KKR is seeking a buyer for its majority stake in U.N. Ro-Ro, the Turkish roll-on, roll-off shipping line it acquired in 2007. Goldman Sachs has been hired to sell KKR's 97.6 percent holding in the Istanbul-based carrier, which it bought for €910 million (about US$1.24 billion), Bloomberg...
- Drewry's Eastbound Trans-Pacific Rate Drops Again
Drewry Container Rate Benchmark, Dec. 4, 2013 Full-size image The Drewry benchmark rate for shipping from Hong Kong to Los Angeles eroded further this week, holding on to only $50 of the $250 per 40-foot-equivalent unit increase seen in mid-November. The rate dropped 5.3 percent or $100 per FEU in the week of...
- Q&A: Filling the Gaps on Shipper Insurance
Q: You recently wrote about readers' suggestions that shippers purchase their own cargo insurance for goods moving by rail and motor carrier. In debunking the idea you made reference to the Carmack Amendment. The Carmack Amendment isn't what it used to be, for railroads and motor carriers now can limit their...
- Hapag-Lloyd, CSAV in Talks Over Possible Merger
Headquarters of Hapag-Lloyd (left) and CSAVHapag-Lloyd and CSAV are in talks over a possible merger that would create the world's fourth largest ocean carrier. The German and Chilean companies are weighing whether "a possible business combination or any other form of association would be of mutual interest," Hapag-Lloyd said in a...
- NYK Scholarships Offered for 13th Consecutive Year in China
On November 13, an awards ceremony was held at Shanghai Maritime University(SMU), where 36 students were recognized for their academic excellence andfine demeanor and encouraged to develop themselves into sociallyresponsible and intelligent young Chinese filled with an internationalvision. Those in attendance included Keizo Nagai, NYK corporate officer andchief representative for...
|DECEMBER 5, 2013|
- Dynagas bags $33.8m
George Procopiou's Dynagas has lined its pockets with more cash after underwriters exercised options for shares in its New York-listed LNG carrier spin-off.
- Golar shares hit block
Golar LNG Partners is putting a major block of its shares on the market as it raises funds for a newbuilding and its parent sells down its stake.
- TMT wins trio's restart
A US judge has given the green light to restart two combination carriers (OBOs) and a VLCC owned by Today Makes Tomorrow (TMT).
- SALT scoops resales
Scorpio Bulkers has firmed up an agreement to acquire seven kamsarmax bulkers that are under construction in China.
- Genco looks for help
The recent sale of $520m in bank debt to a group of hedge funds has accelerated efforts by Genco Shipping & Trading to hire a restructuring advisor.
- CMA CGM hits the road
CMA CGM appears to be lining up a fundraiser in which it plans to issue EUR 300m ($409.7m) worth of senior unsecured notes.
- Diana hit with $1m fine
Diana Shipping has been sentenced to a $1.1m fine in a US oil pollution case, just a fraction of the fine sought by government prosecutors.
- DB upgrades MLPs
Two of the most notable master limited partnerships (MLPs) in the shipping arena have landed a nod from an equity analyst at Deutsche Bank.
- DRYS unplugs ATM
Shares of George Economou's DryShips gained traction in early trading Thursday after Greek bulker and tanker owner announced plans to suspend an at-the-market (ATM) equity offering.
- LDC scores again
Louis Dreyfus Commodities (LDC) has launched its second raid of the year on the Eurobond markets.
- Two lost from cargoship
A search has begun for two seafarers swept from a Wagenborg-managed cargoship off Sweden.
- Anchorage stake slips
Anchorage Capital Group has seen its stake in DHT Holdings diluted after a private placement which raised $107m for the tanker owner.
- Logindo lowers sights
Indonesian offshore shipowner Logindo Samudramakmur has drastically lowered its expectations for its upcoming IPO.
- Canada tougher on tankers
Tanker owners should face unlimited liability for oil spills in Canada, according to a government-appointed panel.
- UN Ro-Ro up for grabs
US private equity fund KKR is looking to sell its stake in Turkish shipowner UN Ro-Ro, with a domestic group interested in the holding.
- PNG in ro-pax fight
Papua New Guinea (PNG) prime minister Peter O'Neill has ordered the seizure of a new multipurpose vessel from "rogue" state forces in an ownership row.
- Epic ups the ante
Epic Gas has placed an order for a pair of gas carriers that will become the largest vessels in its fleet by some distance.
- Teekay threatens again
Teekay Corp is still evaluating possible legal action against South Korean yard STX Offshore & Shipbuilding over a delay in receiving refund guarantees and construction contracts on up to 12 tankers.
- Pirates face trial
Nine Somali men suspected of attacking the Torm Kansas last month are to be tried in the Seychelles.
- HMM books VLOCs
Hyundai Merchant Marine (HMM) is the second struggling Korean owner in as many weeks to place a surprise order for large bulkers.
- Cargoship hard aground
A Finnish general cargoship has gone hard aground off the island of Kemio, Finland, but no pollution has been reported.
- G6 plus one
Israel's Zim is in talks to deepen its cooperation with the G6 group of container lines.
- Fire in the hold
A German general cargoship has been hit by a blaze in the port of King's Lynn in the UK.
- Jadrolinija in fuel deal
Croatian oil and gas company INA has signed a new bunker supply deal with ferry group Jadrolinija worth close to HRK 350m ($62.2m).
- IMO alters BWMC dates
The IMO has agreed to revise the implementation schedule for the Ballast Water Management Convention (BWMC).
- Lines in merger talks
Hapag-Lloyd and CSAV have confirmed they are in talks about a possible merger.
- SDLP prices offering
Seadrill Partners has revised its recently announced fund raising exercise in a move that will see its parent contribute more.
- Extra SALT
Scorpio Bulkers has snapped up five kamsarmax newbuilding resales at China's Hudong-Zhonghua in advance of its New York initial public offering, market sources say.
- Pan Ocean drops STX
STX Pan Ocean is to drop the STX pre-fix from its name as part of its restructuring effort.
|DECEMBER 5, 2013|
- Congress introduces gas tax hike
"The Update, Promote, and Develop America's Transportation Essentials Act" calls for a 15-cent gas tax to be phased in across three years. It is expected to raise $170 billion over the next decade.
- Public comments to FMC mixed on impact of P3
The Federal Maritime Commission has released 83 pages of comments from shippers, ports, government officials and others about the proposal by Maersk, MSC and CMA CGM to create a global P3 Network on the major East-West trade lanes.
- NEWSFLASH: FMC asks for more information from P3; delays effective date
The Federal Maritime Commission voted Thursday to approve a request for additional information from the parties to the proposed P3 Network Vessel Sharing Agreement - Maersk, MSC and CMA CGM.
- Zim, G6 discussing expanded transpacific cooperation
"Joint ventures are part of Zim's ongoing strategy," Rafael Ben-Ari, Zim's vice president, shipping, said. "Our aim, as always, is to improve the services to our customers." Any cooperative agreement will be subject to FMC approval.
- Teamsters to meet to discuss YRC contract
- Millard Maritime partners with HELM
- UPS automates C.O.D. process for customers
- U.S. exports reach $192.7 billion in October
The U.S. Commerce Department on Wednesday reported that the country's exports of goods and services for October reached an "all-time monthly high" of $192.7 billion, up from $189.3 billion in September, with record petroleum exports.
- Sweden offers trade facilitation training in Africa
- Countries step up fight against illegal ivory trade
- Pharmaceutical distribution law takes effect
- China disputes U.S. antidumping methodologies
- Shipment of radioactive cargo recovered in Mexico
- Hapag-Lloyd, CSAV holding merger talks
|DECEMBER 5, 2013|
- Brightoil suspends Geneva, Rotterdam operations to cut costs
Move also aimed at streamlining business and focusing on Asia, says firm.
- Foss Maritime in Alaska joint venture
New company to address growing demand for marine services in the Arctic.
- Prices soften in Fujairah
Fujairah: Earliest deliveries were possible from December 9.
- Prices movements mixed in European markets
Normal operations in Hamburg despite strong winds.
- Singapore bunker prices still undercutting Fujairah
But differential is narrowing.
- 'Tepid' bunker demand as fuel stocks climb
Singapore onshore fuel oil stocks at a seven-week high.
- Asian bunker prices relatively stable
Low to average demand in Singapore.
- Navy fraud rising to millions of dollars
Company inflated bunker prices and forged invoices.
- Fuel savings accrue with two-speed gearbox
But unit aimed at ships with 'multiple operational modes'.
- Offshore firm adds hybrid vessel to fleet
Ship can run on diesel-mechanical, diesel-electric and hybrid mode, says shipbuilder.
- New LNG carrier design in the offing
Concept uses gas-powered system to drive ship.
- High bunker prices push research houses closer together
Firms aim to get ahead in emerging ship performance monitoring market.
- Chinese ship released from arrest
Prompt release for Cosco Shipping vessel.