US prosecutor targets Diana A subsidiary of NYSE-listed Diana Shipping has been named as a defendant in a US prosecution of alleged oily waste dumping violations
HMM wins shipping contract from S-Oil HYUNDAI Merchant Marine said today that it has won a five-year contract of affreightment to ship crude oil for compatriot refiner S-Oil
GCL responds to forced liquidation of subsidiary CHINA's GCL will reserve the right to appeal a Hong Kong court ruling to force liquidation of one of its subsidiaries over late payment, a company spokesman told Fairplay
LNG won't crowd out LPG LPG still has its role in the energy mix despite the increasing popularity of natural gas, the Sea Asia 2013 conference heard today
Heavyweight cargoes could revive heavylift sector DEMAND for heavylift ships could increase as cargoes are getting bigger and more complicated, the Sea Asia 2013 conference heard today
Sailing speeds could determine bulker supply THE oversupply in drybulk shipping may be bottoming out, but any gains could be reversed if operators raise sailing speeds, said a shipping analyst today
South Korean yards to stay in top form CHINESE shipyards may have secured more offshore orders last year, but South Korean yards clinched higher value per unit, observed Charles Choi, Korean Register's director for marketing
Chinese carrier defaults on loans SHENZHEN-listed Changhang Phoenix, a Chinese bulk carrier operator, has defaulted on due bank loans of 447.6M yuan ($71.6M) as of 9 April due to heavy losses and squeezed finances
Keppel sees pressure from Chinese offshore entrants MARGINS will further be squeezed by the entry of more Chinese yards into offshore, warns Keppel Offshore & Marine COO Chow Yew Yuen
HHI bags $1.9Bn FPSO deal HYUNDAI Heavy Industries told Fairplay today it has won a deal worth $1.9Bn to build one FPSO for Chevron North Sea
US-flag export budget slashed FEARED cuts to a food-aid programme that is crucial to US-flag operators were confirmed today with the unveiling of the Obama Administration's 2014 budget proposal
ILA's Daggett Joins AFL-CIO Unit Executive Committee International Longshoremen's Association President Harold Daggett has joined the executive committee of the AFL-CIO's 33-union Transportation Trade Department. The ILA has been affiliated with the Transportation Trades Department since 2005. The TTD is an AFL-CIO umbrella group whose member unions represent workers in the aviation, rail, trucking and longshore industries. The ILA...
WCI: Europe-Asia Backhaul Rates Continue to Rise World Container Index rates to Shanghai Full-size image Europe-Asia backhaul rates rose for a second straight week by 1.4 percent or $15, according to the latest release of the World Container Index. The Europe-to-Asia eastbound rate from Rotterdam to Shanghai is up to $1,091 per 40-foot container over last week. The current rate...
NYK Car Carrier Rescues Four Rowers in the Atlantic On April 6, NYK car carrier Heijin rescued four rowers, including a gold medal Olympian, in distress off the coast of Puerto Rico. Heijin had departed from the U.S. port of Newark on April 4 for San Juan, Puerto Rico. At 7:28 a.m. local time on April 6, the vessel received...
Con-way Freight Receives SmartWay Transport Partner Verification ANN ARBOR, Mich. - Con-way Freight, a less-than-truckload (LTL) carrier and subsidiary of Con-way Inc. (NYSE: CNW), today announced that it has received the U.S. Environmental Protection Agency's (EPA) SmartWay® Transport Partnership verification for the seventh consecutive year. "I commend Con-way Freight for their longstanding leadership in promoting sustainable transportation practices...
APL Bags 'Green Ship of the Year' Award SINGAPORE - APL clinched the inaugural Green Ship of the Year award at the 2013 International Maritime Awards organized by the Maritime and Port Authority of Singapore here this evening. The APL Yangshan, a 10,700-TEU (twenty-foot equivalent unit) container ship built in 2012 currently plying the Asia-Europe trade, was singled out...
Xeneta Pioneers Transparency for Shipping Rates, Raises €1.2 Million ($1.56 Million) in Funding OSLO, Norway - Xeneta (www.xeneta.com), a price comparison service for sea freight, today announced that it has received €1.2m in institutional financing. The round was led by Stockholm based venture capital firm Creandum (www.creandum.com) with Norwegian private investment company Alden co-investing. Using the principle of crowdsourcing, Xeneta delivers transparency to...
Yoichi Hasegawa, President of Taiyo Nippon Kisen Co., Ltd. receives Doctor Honoris Causa From Bulgarian Nikola Y. Vaptsarov Naval Academy Yoichi Hasegawa, president of Taiyo Nippon Kisen, receives Doctor Honoris Causa.Yoichi Hasegawa, a former Senior Managing Executive Officer of "K" Line and current President and CEO of Taiyo Nippon Kisen Co., Ltd. (TNKC) which is one of "K" Line's consolidated ship management companies, was awarded the degree of Doctor Honoris...
Virtualized Logistics Recognized for Supply Chain Excellence Virtualized Logistics has achieved BIC supply chain excellence accreditation, acknowledging the company's contribution to designing logistics solutions which reduce both costs and time to market for printed books. The supply chain consultancy division of logistics specialist SBS Worldwide specializes in working closely with particular industries to develop supply chain solutions which...
CMA CGM, Evergreen to Launch Joint Red Sea Service CMA CGM will launch a new fixed-day weekly service on its Asia to Red Sea route, the REX 3 service, on May 2, in partnership with Evergreen Line. Evergreen Line will refer to the new service as the South Red Sea Service, SRS2. Complementing CMA CGM's existing REX 2 service, which focuses...
Etihad Cargo Adds Washington, D.C., to Network Etihad Cargo has added Washington, D.C., to its global cargo network, in addition to boosting frequency to Hong Kong courtesy of partner Air Seychelles. The U.S. capital is Etihad Cargo's fifth destination in North America, while Hong Kong is already part of the carrier's five-destination China cargo network. The cargo division of...
Wan Hai Lines Unveils 4,680-TEU Container Ship Wan Hai Lines has unveiled its Wan Hai 516 vessel at an opening ceremony at CSBC Corp. Taiwan's Kaohsiung shipyard. Po Ting Chen, chairman of the container shipping line, presided over the ceremony. Wan Hai ordered 14 vessels from CSBC, including four ships of 1,800 20-foot-equivalent units, four of 1,000 TEUs and...
Mexican Rail Traffic Jumps Mexican carload and intermodal volume jumped 22.4 and 25 percent year-over-year respectively, according to the Association of American Railroads. Mexican rail volumes through April 6, 2013 Full-size image In the week ending April 6, combined North American carload volume, including all three North American Free Trade Agreement partners, rose 5.4 percent from the same week in...
Wayne Cederholm, C.R. England's CEO, Dies Wayne A. Cederholm II, a veteran trucking executive who over 33 years helped build C.R. England into one of the largest refrigerated trucking companies, died April 9. Cederholm, who joined C.R. England as a credit manager in 1980 and rose to become CEO, died of complications from a bone marrow transplant. "We...
DHL Global Forwarding Opens Fashion Facility in China DHL Global Forwarding, the air and ocean freight subsidiary of DHL, has launched its Fashion Center of Excellence in Jiuting, China. The 10,500 square meter (about 113,021 square foot) center is located on the outskirts of Shanghai, China's high fashion hub. The facility, which represents an investment of €4.3 million (about...
Ex-Im Bank, Dubai Economic Council Sign Accord The Export-Import Bank of the United States and the Dubai Economic Council of the United Arab Emirates have signed a memorandum of understanding. The $5 billion deal was signed by Fred P. Hochberg, chairman and president of Ex-Im Bank, and Hani Rashid Al Hamli, secretary general of the DEC, at Ex-Im...
FTR Trucking Index Shows Positive Momentum FTR's Trucking Conditions Index for February, published in its April 2013 Trucking Update, had a favorable reading of 12.9, increasing 2 points month-over-month, reflecting an increasingly improving outlook and serving as a strong sign of positive momentum in the truck industry. "The majority of indicators through the early part of 2013 have...
Boskalis, SAAM Plan Joint Ventures Boskalis Westminster, the Dutch dredging and marine services group, and Chile's Sudamericana Agencias Aereas y Maritimas have signed a memorandum of understanding to establish harbour towage joint ventures in Canada and Central and South America. Boskalis's Smit towage and salvage unit will have a 51 percent majority stake in a joint...
WCI: Trans-Atlantic Eastbound Rates Hold Onto Gains World Container Index rates between New York and Rotterdam Full-size image Trans-Atlantic rates remained mostly unchanged the week after the April 1 general rate increase between Northern Europe and U.S. East Coast, according to the latest release of the World Container Index. Last week carriers failed to achieve a general rate increase of...
Sub-Saharan African Exports to North America Down After Prosperous 2012 Containerized exports from sub-Saharan Africa to North America grew in 2012 over 2011, but fell steeply both month-to-month and year-over-year in January 2013, according to data from Container Trades Statistics, Ltd. Sub-Saharan Africa to Far East Asia Sub-Saharan Africa exported 69,100 20-foot-equivalent units to Far East Asia in January 2013. This volume...
Poised to pop? STX OSV Holdings (Vard) has secured an endorsement from equity analysts at a leading Malaysian investment bank.
Stealth investor cuts back Long-term StealthGas shareholder Zesiger Capital has downed its holding in the Harry Vafias-led company.
Boost for MISC buy-out Petronas' attempt to mop up the rest of Malaysian shipowner MISC is a step nearer to completion after the country's pension fund agreed to sell up.
KDM adds another Ukraine's KDM Shipping has splashed more of its IPO cash on a second-hand mini-bulker.
Bank spurs Safe DNB Markets has upgraded Greek owner Safe Bulkers amid optimism for the company and the wider market.
Steady start for Nakilat Qatar Gas Transport Company (Nakilat) reported steady earnings in the first quarter of the year.
Duo blamed for deaths Two offshore companies have been blamed for an incident that claimed the lives of four oil workers in the Gulf of Mexico in 2011.
Reefer spills after smash An NYKCool pool reefer has leaked fuel after a collision with a tug off Colombia.
Zim not in trouble Israel Corp has denied reports that its container shipping division Zim is unable to pay its bond debt.
Rokke slices OSG stake Kjell Inge Rokke has sold almost half of his stake in bankrupt Overseas Shipholding Group, securities filings show.
HMM's tanker tonic Korea's Hyundai Merchant Marine (HMM) has lined up $176m of revenue with a five-year crude transport deal.
Torm's eco riposte Torm is hoping to slice its fuel bill by over one tenth to bridge the gap to rivals operating eco ships, its chairman says.
Triyards' profit jumps Ezra Holdings spin-off Triyards has reported a huge rise in quarterly earnings as it continues to rack up bigger jobs.
Cauvery sale cleared An Indian judge has approved the sale of cash-strapped Pratibha Shipping's tanker Pratibha Cauvery.
Masters charged over clash The two ferry captains involved in Hong Kong's worst maritime collision in decades have been charged with manslaughter.
Panamax for Navios? Greek owner Navios is being linked with a second-hand panamax purchase.
HSH loss provisions jump German lender HSH Nordbank's loan loss provisions jumped to EUR 656m ($857.83m) in 2012 as its shipping book suffered further.
Shares before ships John Fredriksen's Frontline 2012 will need to sell more shares before continuing its rampant newbuilding activity, DNB Markets says.
Greeks deny cuts pressure The Greek shipping ministry says it has not been leaned on by the European Union to introduce deep cuts to low-traffic coastal ferry service subsidies.
DeepOcean signs newbuild Norway's DeepOcean has tied up a subsea support newbuilding on a five-year charter.
Greeks hit new high Younger and larger ships have pushed the Greek-controlled merchant fleet to a new record measured in dwt, even though ship numbers continue to slide.
Costa limits the damage Italy's Costa Cruises has accepted a EUR 1m ($1.3m) fine to cap its criminal liability for the Costa Concordia capsize in 2012.
American adventure Royal Boskalis Westminster has teamed with rival Sudamericana Agencias Aereas y Maritimas for a double assault on the American continental towage market.
Arena crew heading home Fourteen seafarers that fled a leaking bulker off India are to return home to Myanmar.
Hyundai adds FPSO Korea's Hyundai Heavy Industries (HHI) has clinched an order for a new FPSO worth $1.9bn.
KNOT pops on debut KNOT Offshore Partners (KNOT) saw its shares jump 10% on its debut the New York Stock Exchange (NYSE) Wednesday.
Shagang chasing HNA China's Shagang Shipping has won a liquidation order against Grand China Shipping Hong Kong for an unpaid $58m arbitration award but the fight is not stopping there.
Vergottis scraps last ship Vergottis, a famous Greek shipping name, looks to have temporarily exited ship ownership after scrapping its last vessel.
Traf seals $500m bond Trafigura has priced an inaugural perpetual subordinated bond listed on the Singapore Stock Exchange at $500m.
Dryad backs Japan Dryad Maritime has welcomed Japan's plans to allow armed guards on ships off the coast of Somalia.
Stage set for revival The US Maritime Administration (MarAd) is accepting applications for the Obama Administration's Small Shipyard Grant Program.
Truckers seek clarity on Panama Canal expansion's impacts With the completion of the Panama Canal upgrade two years away, greater cooperation is needed by all stakeholders to ensure the transportation industry can handle the increased freight flow, a trucking official told Senate lawmakers.
Hong Kong dockworker talks resume News reports said talks between striking Hong Kong dockworkers and the contractors who employ them resumed on Thursday. The talks ended abruptly Wednesday after just three hours. The strike is in its second week.
FedEx Trade Networks expands in Latin America
Brussels hub opens, key to Finnair's strategy
U.S. Postal Service scraps new delivery plan Meanwhile, the USPS board of governors has directed postal officials to start negotiations with unions to lower workforce costs. Postal officials are also looking into rate increases and other revenue-generating options.
Proposed 2014 Army Corps budget 'potpourri' for ports
IAS updates ChassisManager system in Virginia
Hactl has fine first quarter
Transatlantic trade coalition formed
U.S. import, export prices inch downward
Hyundai introduces online cargo temperature monitoring
U.S.-flag shipping interests reject proposed food aid changes "USA Maritime is severely disappointed that the Obama administration has moved forward with this misguided proposal to effectively eliminate the long-standing and successful Food for Peace program," the group's chairman said.
Avails tight in Fujairah Prices falling in South African ports.
LNG bunkering in US needs state backing Shipping expert says LNG significant market but bunkering would require government support.
Prices head upwards in Europe Gibraltar's market showing signs of life.
Ship in collision springs bunker leak Reefer ship spills a 1,000 gallons of fuel oil.
DME puts fuel oil plans on hold CEO says customer feedback has been lukewarm.
Torm puts lower fuel bills in its sights Move aims to keep fleet competitive with 'eco' ships.
'Thin margins' making Singapore storage uneconomic Fuel oil trading companies are continuing to cutting their storage capacity the Asian bunker hub.
Arbitrage arrivals swell fuel oil stocks Singapore fuel oil stocks at three week high.
INTERTANKO calls for focus on bunker oil spill prevention 'Significant number' of incidents happen during bunkering.
Asia bunker prices end mixed Supplies in Hong Kong and Tokyo Bay were tight on Thursday.
Many ships 'not optimised' for fuel savings 'Still plenty of scope for existing vessels to reduce their fuel consumption,' according to a marine engineer.
Dynamic hires another trader Hire is fourth appointment this month.
Hong Kong supplier to enter Chinese bonded bunker market Sinopec to help NewOcean Energy apply for bonded bunkering license, company source tells Bunkerworld.
BIMCO: bunker suppliers 'more responsible' Official ties number of disputes to changing attitudes.
Brightoil Shipping: Ecoships a 'marketing tool' Buyers have to be 'very careful' when looking at eco vessels, says CEO of firm.
Alaskan foundation launches energy audit programme To help fishing vessels lower bunker consumption via energy efficiency measures.
Hambantota bunkering facilities to be 'commissioned shortly' Storage tanks for bunkers already near completion by end 2012, says Central Bank of Sri Lanka.
Fuel bill of UK fishing fleet hits 'all-time high' in 2012 Bunker bills of UK fishing industry amounted to $279 million last year.
Lukoil upgrading bunker tanker In order to meet MARPOL requirements, says firm.
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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