Woodside scuttles $45Bn onshore LNG hub WOODSIDE Petroleum today said it is dropping a proposed $45Bn scheme to build an onshore LNG processing hub for the Browse basin
Ports assail budget cuts US PORT officials are concerned that President Barack Obama's 2014 budget does not go far enough to pay for deepening and maintaining port and harbour draughts. Ports assail Obama budget proposal
TEPCO slashes crude cargoes TEPCO of Japan expects to slash its crude import cargoes by one-third and increase purchases of electricity from its coal-fired power plants by up to 54%, IHS World Markets Energy reported today
Ridgebury gains funding for tanker acquisitions NEW YORK-based private equity fund Riverstone Holdings has invested $200M in Connecticut's Ridgebury Tankers, which will use the money to buy vessels
Evergreen, CMA CGM plan Red Sea service TAIWAN'S Evergreen Line and partner CMA CGM of France plan next month to start a new South Red Sea Service linking Southeast Asia, the Indian subcontinent and the Red Sea
China's steel demand weakens even more CHINESE steel demand is continuing to weaken, with stockpiles today 22% higher year on year
Singapore piles on green ship incentives SINGAPORE-flagged ships that implement green measures can expect even more tax and fee breaks, transport minister Lui Tuck Yew said today
Korea vehicle exports fall 16% SOUTH Korea said its vehicle exports fell 16% year on year to 258,067 units in March
Jebel Ali seen as mega-hub DUBAI Ports World has told Fairplay the group sees its flagship Jebel Ali terminal as a Middle East mega-hub for Asian box traffic
STX O&S's creditor banks agree on rescue STX OFFSHORE & Shipbuilding's creditor banks have agreed to a joint restructuring effort
Hartmann offers service to West Africa COMPETITION in the Europe/West Africa conventional cargo trade is increasing, with Germany's Hartmann now throwing its hat in the ring
Ezra's profits rise 50% SINGAPORE-listed offshore player Ezra Holdings said today profits for its second quarter ended in February rose 50% year on year to $33M
Capesizes pick up CAPESIZE rates improved slightly this week as Australian miners returned to the market after the Easter and Chinese holidays over the past fortnight
TORM delisting on NASDAQ voted TORM'S stockholders have approved its board's proposal to delist on NASDAQ
NSW Ports Consortium Leases Two Australian Ports Australia's New South Wales government has leased Port Botany and Port Kembla, following a six-month bidding process, according to Mike Baird, treasurer of New South Wales and member of the New South Wales Parliament. The 99-year lease of the state-owned assets of the ports has been awarded to the NSW Ports...
YRC Worldwide to Lock Out IAM Mechanics YRC Worldwide is facing off against a union representing a small group of employees, demanding those workers take the same wage and benefit cuts already accepted by thousands of Teamsters and nonunion co-workers. The $4.9 billion less-than-truckload operator said it will end a contract extension April 15 that covers about 200...
Hyundai Merchant Marine Offers Reefer Monitoring Service Hyundai Merchant Marine has launched a refrigerated on-board temperature monitoring service, which allows its customers to check a reefer container's temperature and thusly ensure the stability and safety of the its inner cargo. The service is provided to customers with a surcharge of $100 per unit and is available for the...
SCFI: Asia-Europe Lanes Give Back March GRI Gains Shanghai Containerized Freight Index, North Europe, week of April 12, 2013 Full-size image The Shanghai Containerized Freight Index has fallen below the $1,000 per 20-foot container mark in European lanes in the week prior to another proposed, but possibly delayed, general rate increase set for April 15 for carriers such as Hapag-Lloyd, Maersk...
4PL Transportation Insight Joins Warehouse Group Transportation Insight has accepted an invitation to join the International Warehouse Logistics Association. Transportation Insight is the first fourth-party logistics provider to become part of the warehouse association. ILWA members voted in March to amend the organization's bylaws to create a 4PL membership. The alliance will help Transportation Insight source potential warehouse...
Grup TCB to Operate Guatemala Container Terminal Rendering of the new Puerto Quetzal Container Terminal in Guatemala.Grup TCB will operate the new TCQ terminal at Puerto Quetzal in Guatemala for the next 25 years with an option to renew the contract. In order to improve service levels and productivity of container operations in the area, the maritime freight...
SCFI: Trans-Pacific Rates Down After Two-Week Surge Shanghai Containerized Freight Index, U.S. West Coast, week of April 12, 2013 Full-size image The Shanghai Containerized Freight Index dropped this week after two weeks of increases in trans-Pacific lanes as a result of the April 1 general rate increase. The Transpacific Stabilization Agreement and some of its member carriers, including OOCL, MSC and CMA CGM,...
NYSA Ratifies ILA's New York Local Contract New York Shipping Association members ratified a new International Longshoremen's Association labor contract that NYSA officials said clears the way to make the Port of New York and New Jersey more competitive. The NYSA-ILA agreement is one of numerous contracts supplementing the coastwide master contract negotiated by the union and United...
Hactl Air Cargo Volume Drops Hactl Air Cargo Volume Full-size image The first three months of 2013 show a 1.1 percent year-over-year increase in imports and a 3.6 percent decrease in exports handled by Hong Kong Air Cargo Terminals Ltd. In March 2013, Hactl handled 56.6 million kg of air cargo imports, 1.6 percent less than March 2012,...
FedEx Trade Networks Expands Latin America Services FedEx Trade Networks has expanded its presence and service capabilities in the Latin America region through a series of operational developments. Over the last several months, the company has executed an expansion plan, including opening new offices, establishing alliances with regional service providers and launching new freight forwarding service options. The freight...
NASSTRAC: More Shippers Collaborate to Cut Costs Shippers are working together to control rising transportation costs much more than is widely realized, a survey of more than 100 companies shows. More than half the companies surveyed, 54.9 percent, told NASSTRAC they collaborate with other shippers as well as carriers to control transportation costs. NASSTRAC's first annual shipper survey found...
Importers Advised to Be Prepared for Customs Audit RANCHO MIRAGE, Calif. - Because Customs and Border Protection performs hundreds of regulatory audits each year, and the agency provides only two or three weeks advance notice of the audit, importers must always have their house in order if they want to pass what can be an excruciating exercise. An industry...
DHL Express to Enhance Asia Network By the end of April, DHL Express will add wide-body aircraft to its global aviation network and adjust its intra-Asia connections, enhancing connections particularly between the Americas and Asia. "A new direct connection from DHL's Americas hub to Japan, as well as links between Japan and the broader Asia-Pacific region, will...
New York Port Truckers Complain of TWIC Delays Trucking companies at the Port of New York and New Jersey say slow renewals of federal Transportation Worker Identification Credentials threaten to shut their drivers out of port terminals. Several trucking officials complained about TWIC renewal delays during a forum sponsored by the New Jersey Motor Truck Association, an affiliate of...
Q&A: Do Container Rate Hikes Add Up? Q: Can you help me sort out the confusion that seems to be coming out in news reports about projections for the trans-Pacific trade? We have a lot of cargo moving in this trade, in both directions, and we're trying to get a handle on what's going to happen. Carrier executives...
Finnair Cargo Launches New York-Brussels Freighter Service Finnair Cargo has launched a freighter flight service from New York to Brussels. The air freight carrier has partnered with H. Essers to provide road feeder service with truck connections to central European destinations. Road feeder service partners to and from Finnair Cargo's Helsinki, Finland, hub will continue normally....
Maersk Adds Busan, South Korea, to Asia-Europe Service Maersk adds Busan, South Korea, to AE10 service.Maersk Line has added Busan, South Korea, to its Asia-Europe, AE10, service schedule. The first vessel calling Busan terminal on the westbound rotation will be Ebba Maersk with an estimated time of arrival on April 29. Busan Port expects rising volume in conjunction with increasing...
CDC tests 'unsatisfactory' Ships owned by the two largest cruise owners have received more 'unsatisfactory' grades from Center for Disease Control (CDC) sanitation inspectors so far this year than in the last five previous calendar years combined.
SCF eyes on year-end prize Sovcomflot expects to wait until late 2013 or early 2014 for "gradual stabilisation" of freight rates, boss Sergey Frank said.
Pirate gets 11 years A juvenile Somali pirate has been jailed for 11 years in Japan for attacking an MOL tanker.
Torm scoops supramax Torm has taken its first dip this year into the dry-cargo period market.
Sungdong swapping debt Creditors of Korea's Sungdong Shipbuilding & Marine Engineering are planning a debt to equity swap worth KRW 136bn ($119m).
French connection Galbraith's has wasted no time in starting to fill the hole left in its tanker desk by the exit of three brokers to rival SSY.
Fafnir ties up newbuild Iceland's Fafnir Offshore has landed a six-year charter for its new PSV a month after ordering it.
Golar's regas risk Golar LNG's plan to fit regasification kit to four newbuildings has raised eyebrows among analysts.
Chinese counsel We take a look at what was said in the market over the past week.
TMM falls to loss Mexican tanker owner Grupo TMM has racked up a loss for 2012 after the previous year's big foreign exchange gains were not repeated.
Ezra bumps up profit Lionel Lee's Ezra Holdings has wrapped up a batch of new contracts worth $120m on the same day that it announced a 50% hike in earnings.
STX leads Friday fall STX Offshore & Shipbuilding today saw its share price drop to the lowest level since its IPO a decade ago.
Maersk getting FIT AP Moller-Maersk is to slim down this year by selling off assets worth $1.5bn, its CEO says.
Cash boost for Titan Embattled Titan Petrochemicals has received another cash injection from two new investors.
Losing start for Coscol Shanghai-listed Cosco Shipping (Coscol) has slipping to a loss for the first quarter of 2013.
Phoenix admits freeze fear Chinese bulker owner CSC Phoenix has said its assets could be frozen or seized by its creditor banks.
Iran fuel exports rise Iran's fuel oil exports jumped 12.5% in the first quarter despite US and European sanctions linked to its nuclear programme.
Skansi replaces Vestland Skansi Offshore of the Faroe Islands has signed up for a platform supply vessel at Havyard originally ordered by Vestland Offshore.
STX departing Dalian TradeWinds digests the digits making the headlines this week.
NIB comes up with cash Estonia's port of Tallinn has secured a EUR 25m ($32.7m) loan to finance its icebreaker purchase from Finland.
Diana duo charged Two engineers from a Diana Shipping bulker are facing trial for oil dumping in the US.
Help for STX suppliers The Korean city of Changwon is stumping up emergency cash to support sub-contractors of troubled yard group STX Offshore & Shipbuilding.
SCF exposed in Cyprus Russia state tanker owner Sovcomflot has revealed it has $25.8m frozen in its current account with Cyprus' troubled Laiki Bank.
Fund buys into ICTSI International Container Terminal Services Inc (ICTSI) has a new large shareholder in the shape of a UK-based investment firm.
IEA trims crude demand The International Energy Agency (IEA) has trimmed its estimates for global growth in crude oil demand this year.
SGX sets swaps high The Singapore Exchange (SGX) iron ore swap contract touched a new monthly record volume last month, new figures show.
Swiber refinances debt Offshore contractor Swiber Holdings has raised SGD160m ($128m) from a four-year bond issue.
Ridgebury gets backing Energy-focused private equity firm Riverstone has agreed to invest up to $200m in Ridgebury Tankers.
U.S. import container volume down in March, up in 1Q
Canadian shipowners concerned about EPA permit The Canadian Shipowners Association are worried the new vessel general permit published by the U.S. Environmental Protection Agency could threaten the commercial viability of its members' operations in the Great Lakes.
UP starts Dallas-Houston intermodal shuttle The Union Pacific railroad has introduced a twice-weekly dedicated intermodal rail service between the Port of Houston's Barbours Cut Container Terminal, and its Dallas Intermodal Terminal facility.
Drewry: Managing liner capacity gets more difficult "With over 40 ships of at least 10,000 TEUs due for delivery in 2013, carriers will find it increasingly difficult to manage capacity without upsetting the fragile supply-demand balance," the London-based consultancy warned.
Earnings up at J.B. Hunt
Evergreen, CMA-CGM start new Red Sea service
AA Cargo unveils new routes
Analyst: Indonesian logistics to grow 14.5% in 2013
CEO of C.R. England dies Wayne A. Cederholm II, chief executive officer of C.R. England who helped grow the carrier from an $18 million firm to a $1.5 billion organization, died Tuesday from complications of a bone marrow transplant.
Weekly global market update A weekly price round up of bunkering hubs from around the globe.
Bunker prices end week softer Demand was soft across the Americas, according to local players.
Dual fuel engine obtains EPA certification Certification will enable Wartsila to enter American market with marine engine technology that offers the option of using either diesel or gas as fuel.
Canadian government increases focus on shore power and air quality The federal government will provide up to 50% of the eligible costs - up to a maximum contribution of $5 million per project.
Rotterdam welcomes LNG fuelled barges 'This not just a first for Shell in the Netherlands, but also for the inland shipping industry.'
Week closes on softer note across Fujairah and Africa But market in Suez takes a firmer path.
Double digit drop seen at the end of week MGO down by over $20 pmt in Rotterdam.
Shipping company's Cyprus-held funds at risk Sovcomflot details its exposure in the debt crisis.
US: Engineers in dock on oil dumping charges Bilge waste and sludge dumped directly into the sea.
Environmental concerns 'driving' salvage operations 'Ships are getting bigger and environmental concerns are growing,' says salvor involved in Costa Concordia operation.
Shipping line expects bunker prices to fall Yang Ming chairman says crude oil markets will soften under the impact of increased Russian production and LNG.
New research pinpoints optimal VLCC speed Study looks at total cost picture to determine most economic speed.
Bunker prices falling in Asia Supplies in Busan were reported to still be very tight.
DVB Bank exec: Ecoships still worth investment Some of best projects today are for ecoships, says MD of DVB Bank.
Chemical spill drill conducted in Singapore Exercise replicated scenario of chemical tanker being hit by a bunker barge.
Small changes can result in big reductions in bunker costs Over half the energy generated by bunker fuel is wasted, says CEO of marine engineering consultancy firm.
FOBAS: 0.50% global sulphur cap 'likely' by 2020 There is a 'rather compelling argument' that IMO would make the suggestion, he says.
China unlikely to board LNG bunker bandwagon in short term No rapid adoption of LNG as marine fuel from China, says China LNG Shipping executive.
Singapore port expands green shipping initiative Makes further developments in Green Ship Programme, Green Port Programme and Green Technology Programme.
Bunker supplies tight in Tokyo Bay Refineries Kyokuto Petroleum Industries and Idemitsu Kosan were undergoing turnarounds, said traders.
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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