Xstrata drops 'Reef' terminal GLENCORE Xstrata today announced it had dropped its Keppel Bay $1Bn Balaclava Island coal terminal on Australia's Great Barrier Reef coast
Matsuda leaving MarAd EMBATTLED US Maritime Administration chief David Matsuda will leave the agency at the end of May
Golden still in Capesize GOLDEN Ocean Group has acquired a 50% stake in a 180,000dwt Capesize bulk carrier for an undisclosed price, in a move regarded as highlighting the company's continued interest in this sector
Funding shortfall blamed for tower smash THE president of Italy's logistics association has linked the recent fatal incident at the port of Genoa to a chronic failure to invest in Italy's port infrastructure
VLGC freight rates continue upward momentum RATES to haul LPG on very large gas carriers touched a 2013 high at $57.875 per tonne yesterday, as lower LPG contract prices lifted market sentiment
Venezuela box imports dwindle CARIBBEAN container volumes are being hit by a sudden decline in Venezuelan imports, port and carrier executives have told Fairplay
Disconnect between cash and end-buyers CASH buyers continue to offer top dollar for elderly tonnage for demolition in India, despite weak fundamentals that have seen end-buyers refusing to pay high prices
VARD profits drop 30% VARD, the Fincantieri-owned former STX OSV of Norway, said today profits for the first quarter fell 30% to 188M kroner ($32M)
Evergreen named Best Trans-Pacific Shipping Line TAIWAN'S Evergreen Line has been awarded Best Ocean Carrier - Transpacific at the 27st Annual Asian Freight & Supply Chain Awards (AFSCA) on 9 May, the company announced yesterday
Offshore vessels soften shipbuilding slowdown A SWITCH in newbuilding orders towards specialised tonnage, such as offshore services vessels, has helped the shipbuilding industry to adapt to a lower pace of ordering, according to a senior shipping analyst
Classic cruise ships to return to service PORTUGUESE businessman Rui Alegre has confirmed that he plans to bring four former Classic International Cruises (CIC) ships back into operation under a new company
More VLGC newbuilding orders seen THE recent string of VLGC newbuilding orders is unlikely to stop anytime soon, the Argus LPG Asia conference heard today
NOL returns to black NEPTUNE Orient Lines said today it was able to swing to profits of $76M in the first quarter of the year from losses of $254M a year ago
MPM retains 'buy' rating MARCO Polo Marine of Singapore retained 'buy' ratings from DMG & Partners today amid "weaker-than-expected" first quarter results
Nam Cheong 'to outperform' NAM CHEONG shares are expected to 'outperform' in the short-term following order wins worth $110M this week, said securities analyst DMG & Partners
Maersk to Raise Far East-Mediterranean Rates Maersk Line will boost rates on its trade route from the Mediterranean to the Far East, effective June 1: From the Mediterranean, excluding Syria, to the Far East, the increase will be $150 per dry and refrigerated container. From Syria to the Far East, the increase will be $115 per dry and...
US Surface Transportation Board Revises Arbitration Rules The U.S. Surface Transportation Board has approved final mediation and arbitration rules that establish a new arbitration program for shippers and railroads. The program allows shippers and railroads to voluntarily arbitrate certain types of disputes with defined liability limits in matters coming before the agency. The board has identified specific types...
Port of Virginia's Container Traffic Up in April The Port of Virginia handled 179,370 20-foot-equivalent units in April, rising 5.7 percent or 9,726 TEUs from April 2012. Export TEUs reached 96,261, up 6.1 percent year-over-year, while import TEUs were 83,109, up 5.3 percent. "Our year-to-date TEU volume is up 6.1 percent, a difference of nearly 40,000 TEUs," said Rodney W....
Salvage Conference to Discuss Non-Tank Vessel Response Plans New regulations for the non-tank vessel response plans will be discussed at the 2013 National Maritime Salvage Conference, taking place from Sept. 9-12 at the Key Bridge Marriott Hotel in Arlington, Va. On March 9, 2013, the OPA 90 Vessel Response Plan regulatory package outlining requirements for non-tank vessels trading in...
Cut in NY-NJ Port Assessments on Tap The New York Shipping Association expects within the next 30 to 60 days to announce a reduction in the per-container assessment that funds longshore benefits at the Port of New York and New Jersey. The planned reduction will be among the first visible savings to port users from the NYSA's recently...
Yusen Logistics to Open Warehouse in Chicago Yusen Logistics' Americas division will officially open its new 229,000 square foot warehouse in Chicago on May 20, 2013. "Chicago is a key market for Yusen Logistics," said Scott Corless, senior vice president and general manager of the international division, in a written statement. The facility, near the cargo entrance of O'Hare...
CSAV to Modify US Gulf Service Rotation in June CSAV's new U.S. Gulf service rotation.Compañía Sud Americana de Vapores will modify the northbound rotation of its U.S. Gulf service by introducing a direct call at Cartagena, Colombia, in replacement of Caucedo, Dominican Republic. The first sailing with the new port rotation will be the Suape Express, voyage 1316, with an...
Canada, Ghana to Pursue Trade Deal Canada intends to deepen trade and investment relations with Ghana, according to John Baird, Canada's foreign affairs minister. Baird and his Ghanaian counterpart, Hannah Tettah, agreed that finalizing a foreign investment promotion and protection agreement is a joint priority. "Our government is committed to increasing trade and diversifying our engagement with fast...
Energy, Intermodal Help Railroads Light It Up Anyone with doubts of the U.S. Class I railroad industry's pricing power and improved efficiency, should look at the major carriers' first quarter financials. The four publicly traded railroads - CSX Transportation, Norfolk Southern Railway, Union Pacific Railroad and Kansas City Southern Railway - expanded their total profit by 9.6 percent...
Report: Florida Ports' Economic Impact on the Rise Florida ports' total economic impact value for cargo activities rose 26 percent from $66 billion in 2008 to $90 billion in 2012, according to the Florida Ports Council's 2013-2017 Five-Year Florida Seaport Mission Plan. The report also showed that the ports now account for 13 percent of the state's gross domestic...
ASF Logistics Account Executive Appointed to Savannah Traffic Club Board MOBILE, Ala. - ASF Logistics today announced that Account Executive Ricky Stille has been appointed to a two-year term on the Board of Directors of the Savannah Traffic Club. In this role, Stille will play a leadership role in the organization's efforts to promote logistics in the Savannah area as...
Long Beach Named North America's Best Seaport The Port of Long Beach earned "best seaport in North America" honors at the 2013 Asian Freight and Supply Chain Awards recently hosted in Beijing by the Cargonews Asia shipping trade publication. It's the 16th win in the past 18 years for Long Beach. The award recognizes the best ports as...
New Crane to Arrive for Australia's Port of Fremantle Fremantle Inner Harbour awaits new post-Panamax crane.A new post-Panamax container crane will arrive at the Fremantle Inner Harbour in Western Australia on May 15. The crane will delivered via the Zhen Hua 21. The ship will have four cranes on board. One of the cranes will be unloaded at the Patrick...
Report: US Import Growth to Reach Standstill by Summer Import volume at the U.S.'s major retail container ports is expected to rise 3.3 percent in May compared with the same month last year, but growth could slow to a standstill by the end of the summer, according to the monthly Global Port Tracker report released by the National Retail...
Agreement Clears Way for South Carolina Inland Port Nordic Cold Storage has reached an agreement with South Carolina State Ports Authority to terminate the lease on its warehouse facility in Greer, S.C., clearing the way for a $43 million inland port to be built in its place. Condemnation proceedings had begun, and the settlement will end those proceedings. The...
13 New Ships Delivered in April New post-Panamax ships account for most of the new container ships delivered so far this year. In April, shipping lines and shipowners took deliveries of 13 new container ships with a combined capacity of 108,142 20-foot-equivalent units, according to Clarksons. April deliveries included six vessels with more than 8,000 TEUs totaling a...
OOCL to Hike Asia-New Zealand Rates in July OOCL will boost freight rates for traffic from Asia to New Zealand, starting July 1. The increase will be $200 per 20-foot-equivalent unit, the container line said....
STTAS-Brazil to Host Reception for Van Andel Global Trade Center's Trade Mission to Brazil DETROIT, Mich. - Sandler and Travis Trade Advisory Services-Brazil will be hosting an evening reception May 14 for participants in a trade mission being conducted by the Van Andel Global Trade Center at Grand Valley State University in partnership with the Michigan Economic Development Corporation. The weeklong mission, taking place...
Restis fires back Greek shipowner Victor Restis has been accused of engaging in illicit dealings with Iran while serving as chairman of First Business Bank (FBB).
Buy bodes well for dry Golden Ocean caught the market off guard Tuesday after acquiring a capesize bulker through a joint venture with a strategic partner whose identity remains a mystery.
Solvang earnings bounce Norwegian gas carrier specialist Solvang has seen its bottom line given a huge boost by financial items.
UK Club in $9.5m surplus The free reserve of the United Kingdom Mutual Steam Ship Assurance Association edged up to a record $494m, following a surplus of $9.5m through the year to the 20 February renewal.
Five missing after smash Five fishermen have been reported missing after their boat was in collision with a chemical tanker off China.
Varun chops loss India's Varun Shipping has endured another tough quarter despite slashing its net loss.
Jaya edges up Jaya Holdings has posted improved first quarter numbers thanks to its growing ship chartering division.
Tale of two markets ICAP has taken an £8m writedown on its dry-cargo chartering division due to the bleak prospects facing the sector.
Better late than never Nisshin Shipping of Japan has succeeded in selling an MR tanker at the second time of asking for a useful $0.5m more.
Banking on share issue Germany's Commerzbank is selling EUR 2.5bn ($3.23bn) of new shares as it seeks to pay back the government for help during the financial crunch of 2008 and 2009.
Vard profit squeezed Norwegian offshore vessel shipbuilder Vard has seen its bottom line curtailed by lower margin work.
No cape alarm at Braemar Braemar Seascope has dismissed concerns about a potential over-ordering of capesize newbuildings during the early months of 2013.
Azuma result dips Azuma Shipping has posted slightly weaker profit and revenue figures for its financial year ending 31 March.
Tallink trims loss Estonian ro-pax group Tallink has cut its first-quarter loss despite falling passenger numbers.
HRG rooted in the red Norwegian ferry and cruiseship owner Hurtigruten has barely made a dent in its first quarter loss as higher financial costs wiped out operating gains.
INTL snaps up Cleartade Derivatives trading platform Cleartrade Exchange (CLTX) has been taken over by Nasdaq-listed INTL FCStone.
Kuribayashi back in black Kuribayashi Steamship has made a resounding return to profit in the year to 31 March.
NOL saved by HQ sale Singapore's NOL Group has returned to profit in the first quarter thanks to selling its headquarters.
Oldendorff back in Japan Oldendorff Carriers has placed its first order at a Japanese shipyard in over 10 years.
SPP adds AHTS Italy's Rimorchiatori Riuniti has booked a new anchor-handler at SPP Shipbuilding in Korea.
DVB keeps losses low Shipping loan losses are being kept to a low level by German bank DVB so far this year.
GOGL pounces on cape Golden Ocean has made its first ever foray into the secondhand capesize market in a move that appears to have caught sale and purchase brokers off guard.
More Mexican money Oslo-listed Subsea 7 has won a second offshore contract for its Mexican joint venture.
Titan safe A bid to liquidate Hong Kong shipyard and FPSO group Titan Petrochemicals has been struck out of court.
Braemar takes a tumble Braemar Shipping Services has seen a 25% fall in operating profits at its shipbroking arm it emerged Tuesday.
Seagull stretches loss Vietnam's Seagull Shipping has sunk further into the red in the first quarter.
UK detains CO2 tanker A ship specialising in the transport of liquid carbon dioxide (CO2) was stopped in the UK last month over ISM deficiencies.
Glencore dumps Oz port Glencore Xstrata has dropped plans for a $1bn coal export terminal in Queensland, Australia, the company has said.
Cambie to join Idan OOIL chief financial officer Ken Cambie is reportedly set to join Idan Ofer's Quantum Pacific Shipping Services in Singapore.
Bunker sales jump Singapore bunker sales saw a near 8.5% increase in sales in April compared to March, official data shows.
Long Beach issues revised EIR for grain transload facility The facility proposed by TTI would receive railcars with 53-foot domestic containers full of grain and dried distillers grain with solubles and transfer the contents to standard 40-foot international containers for export.
STB pushes arbitration with new rule "Changes to the arbitration rules are intended to consolidate and simplify formerly separate arbitration procedures and to encourage greater use of arbitration," the Surface Transportation Board said. The new rules take effect June 12.
U.S. import, export pricing fell in April
CEVA opens City of Pharma in Italy
Washington Notebook: British leader discusses trade deal with Obama
NOL halves 1Q liner losses Liner revenue for the APL parent company fell 2 percent to nearly $2 billion, falling in line with container volume which also dropped 2 percent to 772,000 TEUs. Logistics revenue increased 8 percent to $427 million.
Box ship sets depth mark in Virginia The Port of Virginia set a record Saturday for handling the heaviest containership on the U.S. East Coast when the MSC Chicago sailed through the 50-foot channel with export cargo at a draft of 49 feet.
Shortsea services for Samskip Multimodal expand to Hull, UK Customers will benefit from reduced transit times and extended cut off times in both Hull and Tilbury.
Code of practice could boost Sri Lankan bunker sector Country's players need to be more price competitive.
NOL moves back into profit Fuel efficiencies help to boost operational performance.
Market dips in Fujairah Prices soft in South African ports.
Prices lose direction across Europe Demand at Gibraltar strong, say reports.
Dan-Bunkering relocates trader Move is second relocation this month.
US sees limited scope for emissions averaging scheme Acknowledges that there may not be support at IMO for including concept in guidelines for 'equivalent methods' for sulphur reduction.
Calls for tougher sanctions against Iran's oil sector A group of US lawmakers want to close remaining 'loopholes'.
NAT anticipates bunker savings Measures taken across company's fleet.
'Bunker grade' product heading into Asia 'Bulk of arbitrage inflow is 380 cSt material.'
Kanal Istanbul: work starts next month Start confirmed but details thin on the ground.
IFO, MGO prices down in Asia Average to high demand reported in Singapore.
Aegean to announce Q1 results on Wednesday Analysts expect revenues to be down year-on-year.
EPA includes marine engines in grant programme $9 million on table for emissions reducing projects.
Ulstein Verft delivers fourth PSV to investor PSVs were designed with an 'optimal combination of fuel-efficiency and deadweight'.
Chemoil profits lower for Q1 2013 Chemoil expects slow economic growth and weak shipping markets to continue to affect bunker demand.
Titan winding-up petition to be 'struck out' KTL Camden Inc. to be substituted as the petitioner, says firm.
Milestone agreement for Suez Canal bunker terminal Port Said terminal seen as 'part of Egypt's national energy security policy'.
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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