Paragon Shipping shuffles its orderbook Michael Bodouroglou's Paragon Shipping today announced one container-ship cancellation and two 'eco' bulker newbuild additions in China
Lauritzen to buy back NK700M bond J Lauritzen, the Copenhagen-based shipping group, says it will buy back an issue of NK700 million ($121M) in five-year bonds it issued in 2010
ConTex outlook Charter rate levels for container ships caved in further on low and fragmented fixing activity, with the Contex shedding 2 points or 0.5% over the past week
Shortsea box carrier quits Hamburg Finnish shortsea container line Containerships is pulling out of Hamburg and shifting its German calls to Lübeck on the Baltic Sea
Record jail term for ex-shipping boss Former Sea Star president Frank Peake has been sentenced to five years in US prison for antitrust violations, the Department of Justice has confirmed
Orders could lead to surplus tonnage Container ship owners have started to order vessels in the 8,000-10,000teu size range at a pace that is likely to result in overcapacity unless new ways to employ these vessels enter the picture, a consultancy has warned
Australia rescues 27 asylum seekers Australian authorities have accounted for all 27 migrants seeking asylum found stranded in jungle after their boat sank off Christmas Island last week
EU ministers seek to extend LNG bunkers deadline European Union member states want to put back the deadline for the provision of LNG bunkering infrastructure at key EU ports from 2020 to 2030
Layoffs under way at STX O&S Troubled South Korean shipbuilder STX Offshore & Shipbuilding has started job cuts
SapuraKencana profits rise 21% Malaysian rig owner SapuraKencana Petroleum's profits increased 21% to 247M ringgit ($77M) in 3Q
Vietnam collision caused by negligence Vietnamese authorities have concluded that the second officer of cargo vessel Sima Sapphire was at fault when the vessel collided with a trawler off Vung Tau in the country's southern coast
Hapag-Lloyd, CSAV Merger Seen as Unlikely The odds are against a merger between Hapag-Lloyd and CSAV largely due to lack of a strategic consensus among shareholders, according to container industry analyst Alphaliner. "The likelihood that the discussions will lead to a merger is low," Alphaliner reported in its weekly newsletter published on Monday. "CSAV and Hapag-Lloyd have...
G6 Outlines Aggressive Growth Plan for U.S. Trades The G6 Alliance laid out an aggressive blueprint for expanding in the U.S. market, saying it could establish a joint operations center similar to the P3 alliance and could jointly negotiate for terminal space, shipbuilding, as well as barge, transshipment and other services. In a filing with the Federal Maritime Commission...
SCPA's Newsome: Container Exports to Top Imports by End of Decade Container volumes through U.S. ports will increasingly come into balance between imports and exports as U.S. manufacturing - which is often export-focused - accelerates in coming years, said James Newsome, president and CEO of the South Carolina Ports Authority. A new Michelin tire factory opening in the Southeast region will be...
Report: Latin American Ports Breeding Grounds for Corruption The takeover of the Lazaro Cardenas port in November by the Mexican army underscores an enduring reality in Latin America: its ports are a breeding ground for corruption, according to the global risk consultancy Control Risks. "It is common knowledge that corruption in ports is a common threat for companies operating...
US, Chinese Shippers Rally Against P3 Plan U.S. and Chinese shipper groups are urging their respective regulators to block the proposed P3 Network, arguing the top three global container lines will reduce competition by controlling too much capacity on major trade lanes. The shipper groups - including the Asian Shippers' Council, the China Shippers' Association, the Hong Kong...
Busted by the EU? I believe the recently initiated European antitrust investigation of container lines may be a lot more important than people are giving it credit for. And if I'm right, the inquiry, announced on Nov. 22, could result in significant changes in how the industry operates. It would be easy to dismiss the...
Hapag-Lloyd Aims to Build on Planned CSAV Merger to Catch Up to Big Three Hapag-Lloyd views its merger talks with Chile's CSAV as a springboard to deals with other ocean carriers aimed at catching up with the industry's top three operators, the chief executive of the German container line said. "The aim should be to create something bigger by merging several companies," Michael Behrendt told...
JOC Data Shows Improvement in Port Productivity The latest vessel productivity numbers derived and analyzed from the JOC Port Productivity database should be welcome news for marine terminal operators and port authorities. Productivity at many terminals improved in the first six months of 2013 compared to the previous numbers covering all of 2012. Productivity improvement was especially noticeable...
Former Sea Star Executive Peake Gets Five Years Former Sea Star Line President Frank Peake was sentenced to five years in prison and fined $25,000 for his conviction in an antitrust conspiracy case that has produced guilty pleas by five other carrier executives and three carriers in the Puerto Rico trade. Peake was sentenced on Dec. 9 by U.S....
Carriers Facing Surplus of Unwanted 8,000-10,000 TEU Ships Ocean carriers are facing a surplus of unwanted ships of between 8,000 and 10,000 20-foot-equivalent units following a surge in orders, according to Drewry Maritime Research. Fifty-five vessels averaging 8,600 TEUs will already have been delivered by the end of 2013, increasing the sector's capacity by a "remarkable" 18 percent and...
Defining Diversity on NY-NJ Docks How diverse is the longshore work force at the Port of New York and New Jersey? It depends on whom you ask, and on what they're counting. The Waterfront Commission of New York Harbor contends the International Longshoremen's Association work force in the port is too heavily white and male, and...
YRC Teamsters Set to Vote on New Contract YRC Worldwide's Teamsters employees will decide whether to extend wage concessions until March 2019, helping the trucking giant to refinance its debt and avoid bankruptcy. The less-than-truckload operator's lenders are demanding an extension of the concessions and a more "competitive" contract as a prerequisite to refinancing $1.36 billion in debt. Teamsters local...
India Again Seeks Bids for Transshipment Hub Project The Indian government has released a new global tender for the construction and operation of its long-delayed, multi-purpose deep water Vizhinjam International Seaport, a greenfield site in the country's southern state of Kerala. The move follows two previous failed attempts by local state agencies to develop a privately run transshipment hub...
Hapag-Lloyd to Expand Gulf Caribbean Service Gulf Caribbean Service's new port rotation.Hapag-Lloyd has expanded its fixed day, weekly Gulf Caribbean Service to include eastbound and westbound calls in Guatemala, Honduras, Costa Rica, Panama and Colombia. The revised GCS port rotation will be as follows: Houston; Altamira and Veracruz, Mexico; Santo Tomás de Castilla, Guatemala; Puerto Cortés, Honduras;...
JOC Trucking Employment Index Shoots Up to 96.4 in November JOC For-Hire Trucking Employment Index Full-size image The Journal of Commerce For-Hire Trucking Employment Index rose to 96.4 in November from 95.7 the previous month, as trucking firms added 8,400 jobs. The 0.7 percentage point gain was the strongest increase this year for the index, which was flat in October and had been...
China's Loss in US Footwear Trade Leaves Room for Developing Nations China's grip on U.S. footwear imports continued to weaken in the third quarter, extending a decline that began in 2009, as other developing nations increased their market share further. Sourcing shares of U.S. containerized footwear imports in the third quarter of 2013. Full-size image While mainland China, excluding Hong Kong, continued to be...
Transportation Firms Add 31,000 Jobs as GDP Gains Ground Transportation and warehousing employment spiked in November, as the U.S. economy added 203,000 jobs, dropping the national unemployment rate to 7 percent. The jobs report accompanied news that the U.S. economy grew faster in the third quarter than expected, with real gross domestic product rising 3.6 percent. The Commerce Department boosted its...
ILA and USMX: Then and Now George Cohen of FMCS, Harold Daggett of ILA, Jim Capo and Dave Adam of USMXThink back to a year ago. In December 2012, the International Longshoremen's Association and United States Maritime Alliance were locked in tense contract negotiations that had East and Gulf Coast ports on the brink of a...
Insufficient Logistics Capacity Hindering Philippines Relief Effort Almost a month after Typhoon Haiyan devastated large swathes of the Philippines the relief effort is still struggling to meet the needs of the millions affected. Logistics capacity is proving a key chokepoint despite many of the world's leading transport companies offering support. Haiyan saw winds peak at more than 300...
Legatum shows smaller slice Scorpio Tankers' one-time leading shareholder has revealed its interest in the shipowner has been cut in half.
China's scrap lure The Chinese government has confirmed it will provide subsidies for the early scrapping of cargoships.
Clipper sells again Clipper has sold off its third chemical tanker in four months, brokers believe.
Island stretches one Island Offshore has secured a contract extension with a long-time charterer for one of its multifunctional support vessels.
Merger just the start Hapag-Lloyd's proposed merger with Chile's CSAV could lead to further tie-ups as the German boxship owner targets a top-three spot globally.
"Ample" room to grow Dynagas Partners has been tipped for strong expansion by analysts at Credit Suisse, one of the banks which helped take in public.
HMM looks at liquidity Korea's Hyundai Merchant Marine (HMM) is examining how to raise cash to boost its liquidity.
Lauritzen tackles debt J Lauritzen is to use some of the windfall from its recent sale of ten product tankers to reduce debt levels.
Shin Yang slides Malaysian boxship and shipyard company posts weaker first quarter profit.
Knutsen returns to Platou RS Platou has hired Pareto sale and purchase chief Henning Leo Knutsen to replace its own S&P supremo Wilhelm Holst.
North Sea to heat up North Sea anchor handling tug supply (AHTS) rates could soon reach levels 'not seen in years' with newbuilding orders to follow, according to a leading offshore broker.
Ikaros bulker fined A Greek bulker has been fined in the US after ballast water and oil were found in a cargo hold.
Stagnant New Year A near doubling of newbuilding contracts in 2013 will be followed by stagnation in growth next year, Samsung Securities says.
Ferry crunched A ferry has suffered severe damage to its port side bow after hitting a dock in Norway.
Tanker master going home? The family of an Indian tanker captain being held by police in Togo is optimistic he may be freed to attend the funeral of his infant son.
Waterfront seals tanker splash Canada's Waterfront Shipping has unveiled an ambitious renewal plan for its products tanker fleet with orders for up to nine ships.
STX starts the shredder? A massive 50 newbuildings could be cancelled at STX Offshore & Shipbuilding amid demands from creditors, a domestic report says.
Pan Ocean scraps boxship South Korean shipowner Pan Ocean has scrapped one of its container vessels, sources say.
Cruiseship fire out A fire on a cruiseship at the Blohm + Voss shipyard in Germany has been extinguished.
SCI looking inland Shipping Corporation of India (SCI) is eyeing river coal trade to boost its ailing finances.
Mate to blame Vietnam has said a fatal collision between a Simatech boxship and a fishing boat was caused by negligence.
Capital trims HPH stake US investor Capital Group has trimmed its stake in container terminal operator Hutchison Port Holdings (HPH) Trust.
Northern ties-up drillship Northern Offshore looks to have secured employment for one of its drillships which has been laid-up since the summer.
CSG backs bank IPO China Shipping Group (CSG) has emerged as a major investor in China Everbright Bank's Hong Kong initial public offering (IPO).
Two collide off China A panamax bulker and a feeder containership are reported to have collided off the Chinese port of Zhousan.
Employees to vote on YRC contract extension The company has said it will need to have a new contract ratified by January in order to have its debt restructured by Feb. 1. If the debt isn't restructured by then, officials said the company might go out of business.
Old Dominion relocates Florida service center
Former Sea Star president receives jail sentence Frank Peake was sentenced to serve five years in prison and made to pay a $25,000 criminal fine for his participation in a conspiracy to fix rates and surcharges for freight transported between the continental United States and Puerto Rico.
New American Airlines cargo head pledges 'seamless transition'
Largest domestic DHL Forwarding facility under construction Slated for completion by November 2014, the 475,000-square-foot building at Chicago O'Hare, which includes a 53,000-square-foot office, will stand as the largest domestic DHL Global Forwarding development.
Pilot freight adds customs service
Analyst sees Accenture-Procurian deal setting off chain reaction
Staffing change for C-Fuels America Lana Piterova will handle customer inquiries from now on.
Emissions and fuel economy 'key drivers' in container sector Wartsila engines for one of the most 'environmentally advanced containership designs available on the market today.'
Prices lack direction in Fujairah Strong demand in Middle East hub.
Heavy congestion in Rotterdam Some Rotterdam suppliers were fully booked until the middle of next week.
Loan lifts threat to shipping company's licence 'Varun Shipping has completed its financial reorganisation', says company chairman.
Tanker operator backs methanol as bunker fuel 'This announcement reinforces our commitment to continue investing in sustainable technology.'
'Very tight' supplies in Busan and Tokyo Bay IFO prices generally firm.
Bunker siphoning ops start after month-long delay Meanwhile, barge estimated to have leaked 9,000 litres of fuel.
Lab will develop bunker-saving technologies 'Projects include tests on wind and solar power system.'
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