Shippers increase their use of ocean forwarders Carriers increasingly reluctant to commit to biggest shippers because of difficulty in forecasting volumes
TOP Ships to sell last six ships to fund Eco-design tankers are the likeliest target as owner contemplates new acquisitions
Shell and Vitol lock in aframaxes Energy companies take tankers on longer-term charters
Stena flags two LNG ships in UK Swedish owner changes from Bermuda to UK register
P3 boost for London as UK seeks to attract more shipowners First signature event for the capital aims to tell the world the public and private sectors are working together to promote shipping
Asia-Europe September 1 rate increase failure confirmed Shanghai-Rotterdam rate rises only $18 while China to North Europe falls $110
Fredriksen expands gas empire John Fredriksen-controlled company buys 7.8% stake in Flex LNG
P3 'governing documents' to define reliability Maersk Line seeks to reassure customers over mega-alliance's impact on schedule integrity
London must commit to remaining competitive Massive expansion of Asian economies will continue to have a profound impact
Maersk completes sale of DFDS stake DFDS pays $110.5m to buy 12% of company's shares with a view to cancelling them
GasLog snaps up STX Frontier for about $160m LNG carrier owner says 'very attractive' price made possible by Korean owner's problems
Marine hull underwriters need to up their game Review by Performance Management Directorate calls for major improvements
No shortsea recovery until 2020 Report paints bleak picture for Europe and calls for new shortsea shipping index
The next generation UK Chamber of Shipping president MacLeod pushes for more training opportunities at sea
Top Ships to sell fleet EVANGELOS Pistiolis-led Top Ships today said it plans to sell its entire fleet to AMCI Poseidon, a private equity fund linked with Quintana alumni
Ports gain US funding EXPANSION and upgrade projects at US ports have received $104M in the latest federal government grants
TMT nears lifeline TMT HAS taken an important step towards mitigating its liquidity problems, Fairplay has been told
Accounting changes could hurt charterers PROPOSED changes proposed to the handling of long-term leases could weaken the balance sheets of charterers, an accounting adviser warned today
Indonesia/China nonferrous cargoes jump CHINA's imports of nonferrous metals from Indonesia jumped 22% year on year to 47.9M tonnes during January-July, customs data showed
CS Haisheng borrows from parent again SHANGHAI-listed CS Haisheng today indicated that it has won a six-month-term loan of 800M yuan ($130M) from parent group China Shipping
GasLog makes debut in secondhand market NYSE-listed GasLog branched out from newbuildings today, announcing the purchase of a 2010-built LNG carrier from STX Pan Ocean
Indians await word of tanker's release INDIA'S shipping ministry told Fairplay today that Delhi is still awaiting the release of the oil tanker Desh Shanti from Iran
STX bankruptcy application thrown out SEOUL Central District Court has dismissed a bankruptcy application that a private investor brought against STX Corp
Stena LNG swap registers for two ships STENA LNG said it has decided to move two of its three LNG carriers to the UK Ship Register, part of the Maritime & Coastguard Agency, from Panama's register
OE might have VLGCs built outside China SOURCES at China's Oriental Energy have told Fairplay that the group is considering yards in Japan and South Korea, as well as compatriot builders, for a proposed order of up to a dozen VLGCs
More MLC ratifications from Asia urged MORE ratifications of the recently enforced Maritime Labour Convention are needed, particularly among Asian countries, ILO director Cleopatra Doumbia-Henry said today
AVIC lent $100M CHINA's National Aero-Technology Shanghai Branch (AVIC Shanghai) has reportedly received $100M in lending from the Exim Bank of China
Nickel pushes up Supramaxes SUPRAMAX rates in Asia have been increasing because of strong coal and nickel ore shipments from Indonesia to China, as well as Australia/China grain cargoes
Capesize rates hit '13 high DAILY Capesize rates have hit a new 2013 high of $19,811 as the Baltic Capesize Index surged 215 points to close at 2,660 yesterday
WCI: Trans-Pacific Westbound Rates Tumble to 80-Week Low World Container Index rates to Shanghai Full-size image Trans-Pacific westbound rates from Los Angeles to Shanghai saw their steepest drop since Feb. 2012 in the week of Sept. 5, according to the latest release of the World Container Index. The U.S.-to-Asia westbound rate from LA to Shanghai declined 11.1 percent or $99 per...
HMM Opens Container Yard in Qingdao, China Hyundai Merchant Marine has opened a new off dock container yard in Qingdao, China. The container yard is built on a 59,274 square meter site and is capable of handling 350,000 20-foot-equivalent units per year. The site comprises a container yard, container repair facility and logistics warehouse. In 2012, the South Korean...
JOC Trucking Employment Index Flat in August JOC For-Hire Trucking Employment Index Full-size image A revised Journal of Commerce For-Hire Trucking Employment Index remained flat in August compared with July at a reading of 95.6, reflecting summer freight demand and motor carrier difficulty in hiring and keeping truck drivers. The JOC index is only 1.8 percentage points above its August...
Holistic Supply Chain Management: A Focused Approach to Supply Chain Management through the Lens of Working Capital Management There is a renewal of interest in the financial elements of supply chain management today. Businesses are using agile, cloud-based technology to optimize working capital and glean liquidity from improvements in supply chain activities. Managers previously immersed in day-to-day operations are beginning to see their role in working capital management take...
SCFI: Shanghai-to-US Spot Rates Edge Up Shanghai Containerized Freight Index, U.S. West Coast, week ending Sept. 6, 2013 Full-size image Spot container rates to the U.S. East and West Coasts measured by the Shanghai Containerized Freight Index saw increases, albeit slight, for a second consecutive week in the week ending Sept. 6. Gains during these weeks are a...
Ocean Carrier Rate Revision Roundup for Sept. 6 Major container lines have announced rate increases for a variety of trades, as detailed below, slated to take effect in September and October: Trans-Atlantic Four carriers plan to implement rate hikes on Oct. 1: NYK Line will boost rates on its eastbound trade from U.S. ports to Northern Europe. For dry cargo, except...
Freight Industry Employment Flat in August A faster-paced economy wasn't evident in the August employment numbers for freight transportation industries. Although transportation and warehousing businesses added 12,000 net new jobs in August, most of those workers never touched a container, trailer, forklift or pallet. The transportation sector gains were mostly in transit and other passenger services, which added...
UPS to Buy Two Costa Rican Firms UPS has plans to purchase two Costa Rica-based companies: Union Pak de Costa Rica, a small package delivery firm, and SEISA Brokerage, a brokerage business. UPS expects to complete the transactions in the fourth quarter of 2013, subject to customary closing conditions. Terms of the deal have not been disclosed. Both companies...
SCFI: Decline in Shanghai-Europe Spot Container Rates Accelerates Shanghai Containerized Freight Index, North Europe, week ending Sept. 6, 2013 Full-size image Spot container rates fromfrom Asia to Europe measured by the Shanghai Containerized Freight Index saw their steepest weekly declines since mid-April in the week ending Sept. 6. Rates have been decreasing for the past five weeks in these lanes,...
UTi Worldwide Swings to Loss UTi Worldwide reported a net loss of $4.4 million in the second quarter of fiscal year 2014, ending July 31, 2013, compared with a net profit of $18.9 million in the same period last year. Total quarterly revenue was $1.13 billion, decreasing 4.5 percent year-over-year from $1.18 billion. Revenue from the...
Current State of Maritime Piracy Theodore Karasik, director of research and consultancy at the Institute for the Near East and Gulf Military Studies in Dubai, and Journal of Commerce Senior Editor Peter Leach discuss piracy's current threat level, how shipping lines have responded and what this all means for risk and cost. Dr. Karasik is one of...
AFL-CIO Says Help Is There If Dockworkers Stay Members The AFL-CIO and its Maritime Trades Department are quite willing to help longshore unions resolve jurisdictional issues on the waterfront, but only if the dockworkers remain part of the umbrella organization, MTD President Mike Sacco said Thursday. "There is a process to address jurisdiction, but not if they pulled out of...
Orient Express Lines Begins Indian Subcontinent Feeder Regional container carrier Orient Express Lines has launched a new dedicated feeder service linking key hub ports in the Indian subcontinent. The service, which began Sept. 4, offers a fortnightly rotation of Colombo, Sri Lanka; Karachi, Pakistan; Mundra, India; and back to Colombo. The 860-TEU OEL Freedom is deployed on the...
Abu Dhabi Ports to Open Mumbai Office Khalifa Industrial Zone Abu Dhabi, which includes Khalifa Port, is establishing a representative office in Mumbai, India, to tap growing global markets. The Indian unit, which will be Kizad's first office outside the United Arab Emirates, will operate as a legal entity of Abu Dhabi Ports Company. The new office is...
Cargo Volumes Up at ANA, JAL Japan's All Nippon Airways Co. (ANA) said that its international cargo volume rose for the fifth straight month in July on a year-on-year basis, jumping 9.7 percent to 47,758 tons. ANA's domestic cargo volume grew for two months in a row in July on a year-on-year basis, increasing 3.1 percent to...
Zodiac torches oldest cape Zodiac Maritime Agencies has sold its oldest bulker in a $9.04m scrap sale.
SeaChange bags boxship SeaChange Maritime is being tied to the purchase of a 14-year-old containership.
Handy finds new buyer A handysize bulk carrier controlled by a subsidiary of Japan's NYK has been sold.
US targets Iranian 'evader' US officials have widened sanctions against the network of an Iranian businessman tied to blacklisted Greek shipping executive Dimitris Chambis.
Volgaflot loss balloons Russian owner Volga Shipping (Volgaflot) has posted a big increase in its first-half loss as revenue fell.
Pistiolis mulls options Top Ships will not rush into new ship acquisitions after it announced a deal to sell its current fleet to investment fund AMCI Poseidon, which is backed by Stamatis Molaris.
Inside Zim's battle room Zim finance chief Guy Eldar has revealed finer details of the line's latest round of restructuring negotiations.
Good Luck in the clear A European court has scrapped sanctions against a Dubai ship agency previously thought to be a front for blacklisted Iranian shipowner IRISL.
Top Ships sells out Greece's Top Ships said on Friday it had agreed to sell its entire fleet to an investment fund to pay off debt and invest in new vessels.
Stand-off at Alang A general cargoship is stuck off a breakers' beach at Alang in a dispute over wages and bills.
Kerala in ferry swoop The Indian state of Kerala is planning to order four new high-speed ferries to boost coastal services.
Power of three TradeWinds digests the digits making the headlines this week.
A&P jobs at risk A restructuring of UK shiprepairer A&P could see 78 jobs go in Falmouth.
Stena backs UK flag Sweden's Stena Group is moving more vessels to the UK flag, this time in the shape of two LNG carriers.
Bump in the Bosporus A Turkish cargoship has grounded in the Bosporus after rudder failure.
Ferry deal done New joint venture STM Quest has won the battle to run a ferry service from Canada to the US.
Offer made for Miclyn The two main shareholders of Singapore's Miclyn Express Offshore (MIO) are bidding to take over 100% of the company.
Big deal awaits Rongsheng Rongsheng Heavy Industries is in line for a huge newbuilding contract which will provide a major boost for the struggling shipbuilder.
Baltic banks S&P cash Peter Georgiopoulos-led Baltic Trading has sealed a loan worth $22m with DVB Bank to add two second-hand bulkers to the fleet.
GasLog raids STX PO GasLog has made its first secondhand purchase buying a three-year old LNG carrier controlled by STX Pan Ocean and its associates.
Box rate rises fail Attempts by container lines to boost rates with price rises in September have failed, according to analyst Drewry.
A schoolboy error We take a look at what was said in the market over the past week.
NYK raises $400m NYK has successfully raised around JPY 40bn ($400m) from the bond markets, the Japanese shipowner disclosed Friday.
Dry charge continues US-listed dry bulk companies saw their share prices surge for a second consecutive day on Thursday.
Eclectic backs FSL Trust Eclectic Investment Company has emerged as a significant shareholder in Singapore-listed First Ship Lease Trust (FSL Trust).
Gun battle off Nigeria Security off Nigeria continues to deteriorate with reports of an exchange of gun fire between a ship's security team and pirates.
Carnival takes the lead Carnival Corp of the US has committed over $180m to a campaign to equip 32 of its cruiseships with technology designed to combat air pollution at sea by reducing ship emissions.
Truckers using Staten Island terminal get bridge toll refunds "With the tolls going up as much as they did and the prospect of them continuing to go up, it was vital that the terminal be able to do something about the tolls so that it remained economically viable," said Jim Devine, head of NYCT.
Verify Brand develops chemical traceability solution
Massport names Hadden port director Deborah Hadden will be responsible for directing the planning, development, marketing, operation, security, financial management, administration, and maintenance of non-aviation properties in the Port of Boston.
Airline emissions talk intensifies ahead of ICAO assembly Looking ahead to the International Civil Aviation Organization's triennial assembly, the International Air Cargo Association (TIACA) has called for a single, market-based approach to limiting airline greenhouse gas emissions.
WGL to use Descartes customs solutions
QuestaWeb FTZ customer base doubles in 2013
Freight projects fare well in 5th round of TIGER grants
G6 to skip two Asia-Europe sailings
Steel group says rebar industry should roll with market
DSV buys SBS Worldwide
FMCSA releases guidance on surety bond deadline
Centerpoint invests in 3PL syncreon
Maersk sells stake in short-sea operator DFDS said the liner carrier's share in the company was reduced from 31.3 percent to zero after the sale of 4.65 million shares. Maersk remains a major player in the European short-sea market via its Seago Line subsidiary.
Weekly global market report A weekly price round up from bunkering hubs around the world.
Volatile fuel prices in the Americas to close out week Demand was said to be good in Houston on Friday.
Praxis executive director resigns 'I have decided it's time for myself to pursue other opportunities in the industry'.
Global specialty fuel additives market to reach $7.02 billion in 2019 Environmental concerns have been prompting regulatory bodies of various governments to mandate the use of specialty fuel additives.
Prices lose direction in Fujairah Distillate prices strengthen in South African ports.
Prices steady in northwest Europe Prices softening in Gibraltar.
Market dashes hopes of freight rate boost Attempts by container lines to impose a sharp rate rise appear to have failed.
French player to focus on LNG bunkering New US office aims to maximise opportunities opening up in the field.
Fujairah bunker sales 'growing at 5% to 6%' a year Sources say monthly volumes are averaging 1.8 million mt.
Asian bunker prices end week lower Hong Kong players reported average demand.
Bunker trader licensed in Fujairah Free Zone First Fuels is an associate company of FNSA Fuel.
Latin American liner plays 'eco' savings card Newbuildings use 30% less bunkers than comparable ships.
Otto Marine receives fuel-efficient AHTS The Go Phoenix is propelled by hybrid propulsion diesel electric engines.
Bad weather affecting bunker deliveries at Algeciras 'Hard to load barges in the outer anchorage', says source.
UK firm to add diesel-electric vessels to fleet New vessels will feature 'the most up to date technology and designs', says executive.
Progress in construction of LNG-fuelled OSVs LNG bunker fuel tank being delivered to Trinity Offshore.
Castrol reiterates advice on engine cold corrosion Lubes of lower BN 'unsuitable' for slow steaming in modern marine engines.
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