What price abandonment? A new insurance scheme could improve protection for ruined owners' stranded crew
Philippines election strengthens government's maritime reform effort Aquino control over Senate may boost Marina bid to oversee training and education
Banking exposure to Greek owners shrank less than 3% last year Petrofin finds 13 banks increased lending and sees ship finance 'slowly recovering' next year
Eco-ship buyers add to overcapacity, says Barclays Research Analysts dispute claimed advantages of fuel-efficient newbuildings
Timeline: the troubles of TMT A chain of events underpins the recent arrests of Taiwan-based player's tonnage
Vafias nudges Caribbean aframax market to new highs Greek vessel booked at W110 to ship 70,000 tonnes of crude to US Gulf
Ballast bewilderment Soon all ships must install new technology that is still barely seen in operation
China offers two decades of growth, says Zhang SSE president says Asian giant's development drive is steering a solid course
Brazil offers western promise - but only for patient partners Pledge to use home-sourced offshore equipment has slowed growth of oil output
GasLog lifts profits as fleet expands Livanos-backed LNG carrier owner expects long-term strength in rates
Maersk sets Asia-Europe rate increase of $750 GRI takes effect on same day as Hapag-Lloyd's $1,000 rise
Record year of claims hits Britannia Reinsurer's surplus investment assets fall by $59m
Ofer clan looks east Shift towards Singapore highlights the growth of Asia as a shipping centre
Hapag-Lloyd cuts its first-quarter losses German carrier cites year-on-year rise in average freight rates and lower bunker prices
STX Pan Ocean posts $67m first-quarter loss South Korean bulk operator predicts market turnaround after deficit narrows
Hamburg players form German shipbroking powerhouse Partnership sees Peter Döhle, Ernst Russ and Stüwe play to their own strengths
Norden orders more newbuildings despite first-quarter losses Danish owner has booked 13 bulk carriers and four tankers in six months
Court orders TMT car carrier to discharge in Antwerp Exclusive: C Ladybug to unload on Thursday, says court official
Daiichi Chuo hands back tonnage early Two vessels thought to have been returned to Norden for $9m consideration
IMO brings new hope to shipowners facing ballast-water bottleneck Committee will develop an agreement allowing treatment systems to be phased in
Growth in US import boxes could 'trickle to a standstill' Despite slowly improving economy, the country's retailers remain cautious
Jaya Holdings' offshore support service division posts revenue hike Singapore company boosts its chartering orderbook
H Vogemann orders four bulkers at Samjin Contract placed despite growing industry doubt over eco-ship advantage
Varun Shipping posts a narrower quarterly loss Company reduces its expenses as it repositions itself to target offshore openings
Strong dollar boosts Hamburg Süd SHIPPING line Hamburg Süd today posted a 15% rise in turnover for 2012 despite poor trade fundamentals
TTI upgrades grain export scheme FASTER rail unloading times has caused terminal operator TTI to increase the capacity of a planned grain export facility at the Port of Long Beach
Mainland-Taiwan trade up by 46.5% in 1Q TRADE between the Chinese mainland and Taiwan in 1Q13 totalled $51.44Bn, up by 46.5% on the same period last year, Xinhua News Agency reported on Wednesday
ESPO "worried" about port regulation European Sea Ports Organisation has said that it is "worried" about a draft port regulation due to be adopted by the European Commission next week
Chinese steel industry sees 0.9% profit rate in 1Q CHINA'S steel industry has made a total profit of 2.5Bn yuan ($403M), but with a profit rate of 0.9%, according a report released by China Iron and Steel Association (CISA) on Thursday
Four charged in Singapore FOUR people involved in illegal bunkering operations have been charged for various offences in a Singapore court, said authorities
DS Norden positive on product tankers DS Norden, the listed Danish dry bulk cargo and product tanker operator, has maintained a view that its 40 tankers will generate an operating profit while the dry bulk market will remain weak
VARD keeps positive grades VARD has been upgraded to 'outperform' by CIMB and maintained at 'buy' by DMG & Partners despite a 30% fall in 1Q13 profit to 188M kroner ($32M)
Statoil may award LNG carrier tender at low rate NORWEGIAN trader Statoil may award an LNG carrier tender for below $80,000 daily for a three- to five-year charter, said market sources
Industrial action worsens congestion in Newcastle DRYBULK snarls in Newcastle worsened as unions continue to battle Port Waratah Coal Services in a dispute over a new enterprise agreement
Hapag makes losses of €93.6M GERMAN container line Hapag-Lloyd has reported losses on stagnant volumes in the first quarter, but the deficit was smaller than in the corresponding period last year
CSCL to dispose of obsolete containerships CSCL plans to dispose of 10 1,000teu obsolete containerships in the second half of this year, according to a company statement published today
Winding-up order for Otto Marine unit SINGAPORE's offshore services provider Otto Marine said today the Singapore High Court has granted winding-up orders for its subsidiary Reflect Geophysical
VLGC loading Iranian LPG for E1 SOUTH Korean LPG importer E1 has confirmed to Fairplay that it has bought Iranian LPG
Offshore arm lifts Jaya SINGAPORE-listed Jaya Holdings said today its offshore unit increased net profits by 28%, lifting the entire group in the third quarter ended 31 March
Werner's Leathers Sees Trucking Demand Heating Up PRINCETON, N.J. - Unseasonably cold weather may have dampened demand for outdoor merchandise from mowers to mulch earlier this spring, but that may change Memorial Day. As temperatures rise across the country, consumers will be moving outdoors and heading to stores. Supressed demand may translate to a rush to find trucks...
Long Beach TEU Volume Up by Double-Digits The Port of Long Beach in April recorded strong double-digit growth in container volumes compared to April 2012. Long Beach in April reported an increase of 13.5 percent in containerized imports, a 14.5 percent increase in exports and a 12.5 percent increase in total container volume over April 2012. The Port of...
Motorola Solutions Provides for Safe and Successful Port Operations JACKSONVILLE, Fla. - Airports and seaports play critical roles in a thriving global economy and Motorola's wireless solutions help improve operational efficiency while delivering better information, leading to better decisions and better outcomes. This week, Motorola Solutions' Ed Merkle and Bill Cusack will be participating in panel discussions on mobility...
Martek Marine: 'Shipping Companies Face Potential Manslaughter Charges' Martek Marine is advising shipping companies that they are putting themselves at risk of facing corporate manslaughter charges if they do not carry an adequate number of maintained and certified gas detectors. European Marine Equipment Directive (MED) approval is a legal requirement for equipment aboard EU flagged vessels and a...
Senate OKs Transfer of Craney Expansion to VPA The Senate authorized the federal government to convey the eastward expansion of Craney Island to the Virginia Port Authority in an amendment to the Water Resources Development Act. The amendment clears the way for the 600-acre eastward expansion of Craney Island to be turned over to the VPA when it decides...
World Business Chicago to Hold Logistics Hackathon CHICAGO - World Business Chicago is recruiting software developers to participate in its first Logistics Hackathon on May 18. The Hackathon will connect the region's transportation and logistics companies to its thriving tech community, in hopes of generating innovative tools to impact the transportation and logistics landscape and ease congestion...
Florida Governor Scott Visits Seaboard Marine MIAMI - Florida Governor Rick Scott visited the Seaboard Marine terminal at PortMiami this morning and spoke about the jobs to be created by legislation he just signed that will eliminate sales taxes for equipment and machinery purchased by Florida manufacturers. A strong supporter of seaports and international trade, it was the...
Port of Green Bay's Cargo Tonnage Surged in April The Port of Green Bay, Wis., reported cargo tonnage in April surged 117 percent compared to the same month last year. "We had a great April," said Dean Haen, port and solid waste director, in a written statement. "The port had 15 ship arrivals that transported more than 192,000 metric tons...
Los Angeles Posts Decline in April Container Volume The Port of Los Angeles reported cargo volume in April decreased 9.5 percent compared with the same month last year. Monthly imports dropped 10.4 percent year-over-year to 326,780 20-foot-equivalent units. Exports in April decreased 14.3 percent to 160,129 TEUs. Combined, total loaded imports and exports in April totaled 486,910 TEUs, down 11.7...
Mark Sheppard, VP at Mobile Port, Dies at 61 Mark Ivey SheppardMark Ivey Sheppard, vice president for trade and development at the Alabama State Port Authority, died Tuesday at his home following a brief illness. He was 61. "Mark Sheppard's sudden passing comes as a deep shock to our maritime and international trade community," said James K. Lyons, the port...
Carriers to Restructure Asia-South America Services in July CMA CGM, Maersk Line, Hamburg Süd, CSAV, China Shipping Container Lines and Hanjin will restructure their services between the Far East and South America's east coast by launching three joint services in July. CCNI and Hapag-Lloyd will also join the services. The three new services will replace the following services: ASAS 2,...
Hapag-Lloyd to Raise Asia-Americas Rates in Mid-June Hapag-Lloyd will raise rates for all cargo and container types on three of its trade routes, as of June 15: From East Asia to the Caribbean, the east coast of Central America and Panama, the hike will be $700 per 20-foot container and $1,000 per 40-foot container. From East Asia to Mexico,...
Cathay Pacific's Cargo Volume Slid in April Cathay Pacific Airways reported that Cathay Pacific and Dragonair combined carried 123,805 metric tons of cargo and mail in April, down 0.6 percent compared with April 2012. The monthly cargo and mail load factor dropped by 2.5 percentage points to 60.8 percent. Capacity, measured in available cargo and mail metric ton...
US Senate Passes Water Resources Development Act The U.S. Senate today passed S. 601, the Water Resources Development Act of 2013, in an 83-14 majority vote, with three members abstaining. The bill now moves to the House. The WRDA bill would authorize federal spending on port improvements, flood protection, dam and levee projects and environmental restoration, The Washington...
Drewry's Trans-Pacific Rate Falls Below $2,000 Mark Drewry Container Rate Benchmark, May 15, 2013 Full-size story Drewry's Hong Kong-Los Angeles Container Rate Benchmark fell to $1,900 this week, the first drop below the $2,000 per-40-foot-container mark since early March 2012. The rate for the week of May 15 decreased 6.5 percent or $132 from last week, according to the...
Crane Worldwide Logistics Expands in Houston Crane Worldwide Logistics will use the space to service an energy client.Crane Worldwide Logistics has leased 150,000 square feet of industrial space in Houston from property owner Levey Group. The Cushman & Wakefield industrial team of Jim Foreman and Beau Kaleel represented Levey Group, while Crane Worldwide, an air, ocean and...
Weiss-Röhlig Relocates North American Headquarters to Illinois CenterPoint Properties has broken ground on an 87,975 square foot build-to-suit redevelopment in Elk Grove Village, Ill. Weiss-Röhlig, an international logistics company in air freight and sea freight transportation, will lease 57 percent of the facility, with the remaining 43 percent to be completed on a speculative basis. With this move,...
Checkmate? Freight rates soared by as much as 120% in certain corners of the tanker arena this week but some fear the tides are about to turn.
Restis torpedoes allegations Greek shipping magnate Victor Restis is mounting a legal campaign against an advocacy group that has accused him of engaging in illicit dealings with Iran while serving as chairman of First Business Bank (FBB).
Greek lending dips The attractiveness of financing Greek shipping continues despite several adverse factors, with the overall total of loans booked in Greece and worldwide by the end of 2012 reaching $65.78bn.
Neptune Orient disappoints Neptune Orient Lines may have made a return to profit in the first quarter but the result was given a cool reception in the market.
STX: no quick sales Cash-strapped South Korean group STX has said any sale of its Finnish and French yards could be a long way off.
Farstad banks a billion Norway's Farstad Shipping has tapped bond investors for NOK 1bn ($170.8m) in new funding.
RABT still deep in the red Struggling Rederi AB TransAtlantic continues to bleed cash with both its industrial and offshore shipping wings under severe pressure.
Norden buy-back goes on Norden has kicked off phase two of a $30m share buy-back scheme.
Debt deal needed Norwegian boxship owner has again been hurt by financial costs as its first quarter loss grew.
Ezion pens $80m charter Ezion Holdings has racked up yet another contract for one of its service rigs.
JES swings to loss Chinese shipbuilder JES international has fallen into the red in the first quarter as revenue plunged 66%.
Cal Dive wins more in Mexico Houston-based Cal Dive International has bagged two more lucrative contracts with Mexican oil giant Pemex.
Rickmers in bond bid Bertram Rickmers has turned to the bond market as the German owner looks to build a consolidation warchest.
Batubara quits Samudera Shipping Line is looking for a new boss after David Batubara resigned.
Bonheur better in Q1 Lower financial costs boosted earnings at Fred Olsen holding company Bonheur in the first quarter.
Strong start for GasLog Peter Livanos-backed GasLog has turned in a stronger than expected first quarter report.
Farstad eyes more bonds Farstad Shipping is plotting another raid on the Oslo bond market.
Costs curb Solstad Norwegian offshore vessel owner Solstad had its bottom line severely trimmed by financing costs during the first quarter.
Norden to keep buying Norden plans to keep investing in eco dry-cargo newbuildings given the historically attractive prices on offer today, its CEO says.
DESSC turns black Deep Sea Supply (DESSC) made a return to profit in the first quarter as the company continued its shift away from the North Sea.
Goldenport nets scrap cash John Dragnis-led owner takes demo income to almost $50m this year with disposal.
GE sells again India's Great Eastern Shipping (GE) has offloaded another 1990s-built bulker as it targets a fleet rejuvenation.
Less red for Evergreen Taiwanese boxship line Evergreen has reduced first quarter losses as costs were reined in.
Two for Stena Bulk and GAR Indonesia's Golden Agri Resources (GAR) is investing more in newbuilding tankers with Sweden's Stena Bulk.
STX PO loss cut Korean bulker owner STX Pan Ocean has reduced losses in the first quarter thanks to currency exchange gains.
Better start for Hapag Lloyd Higher freight rates helped containerline Hapag Lloyd to cut its first quarter deficit by 40%.
Norden's eco crusade Norden has revealed a near half billion dollar newbuilding crusade as it looks to take advantage of low prices.
DNV revenues jump DNV has reported a 27% jump in revenues for 2012 to NOK12.8bn ($2.2bn), but net profits were down 1.5% to NOK719m.
JMU in the black Shipbuilder Japan Marine United (JMU) has posted a net profit of JPY 3.8bn ($37.5m) in the first three months of 2013.
Russia scraps crude deal Russia has scrapped a deal to pump Azeri oil from Baku to the Black Sea port of Novorossiysk.
Vogemann inks quartet Korea's Samjin Shipbuilding has announced a deal with Vogemann of Germany to build up to eight bulkers.
Noble wins jack-up deal Noble Corp is set to order an ultra-high spec jack-up rig newbuilding after winning a four year charter deal from Statoil.
Profits slide at Farstad Farstad Shipping has made a poor start to 2013 with first quarter profits down nearly 28% to NOK82m ($14m).
Collateral damage Victor Restis is poised to pop up on the US government's radar following accusations of illicit dealings with Iran, sources said Tuesday.
TDW buys Troms Offshore Tidewater has expanded its footprint in the Norwegian sector of the North Sea with the acquisition of Troms Offshore Supply.
Long Beach eyes grain Long Beach is looking to further diversify its cargo mix with plans for a new grain export facility.
NTSB: Reduce legal limit to hinder drunk truck drivers
Hambug Süd reports 16% increase in 2012 revenue The German liner carrier said "Europe-America and Far East services contributed in particular to this growth. Pleasing performance was seen, too, in some of the inter-America services." Mediterranean services fell below expectations.
Hapag-Lloyd reports first quarter loss The liner carrier had a net loss of 93.6 million euros ($120 million) in the first quarter 2013, but considered an improvement over the net loss of 132.4 million euros recorded in the same period a year earlier.
VPA box growth continues in April The port handled 179,370 TEUs for the month, an increase of 9,726 units compared with April 2012. Export TEUs tallied 96,261 and import TEUs were 83,109, an increase of 6.1 and 5.3 percent, respectively.
Hapag-Lloyd announces Asia-Europe rate hikes
FedEx Trade Networks breaks ground on NY facility FedEx is paying $5.2 million to build the 22-acre facility, which will include 55,000 square feet of office space. New York State has committed $2.56 million in tax credits, and FedEx will receive another $1.9 million in tax relief from Erie County.
U.S. civil nuclear trade mission to China, Vietnam
Study says ship emissions contribute to ocean acidification Sulphur regulations expected to reduce impact but findings may form part of scrubber washwater discussion.
Shipbroker error leaves it responsible for bunker invoice Broker compelled to enter a settlement with the bunker supplier.
Prices flat in Cape Town, mixed in Fujairah Prices soft in Suez.
Mid-week prices falling in major European ports Congestion returns to Gibraltar.
LNG: Market warned against being 'blinded' by optimism 'LNG is ultimately a dangerous product to handle,' warns FOBAS global manager.
Delay of ECA NOx limit on the cards Russia wins support for delaying NOx Tier III standard, pointing to problems of combining SCR with scrubbers as one of the arguments.
West African port ready by 2016 New container port to relieve pressure on Lagos.
IFO prices trending down in most Asian markets Hong Kong and Busan reported to be holding back in anticipation of prices falling further.
EU triggers 'oil price fixing' probe Oil companies under investigation.
Traders join International Bunkering at Dubai Firm welcomes Kim Gade, Fernando Manuel Tirado Lenador and Abdur Rahman to the Middle East office.
Norden narrows Q1 losses Company saw lower returns of $2.3 million from bunker hedging during Q1 2013.
Losses of Viking Line marginally up Bunker prices crucial to earnings for rest of year.
Study shows multiple slow steaming benefits Apart from fuel savings and reductions of CO2, SOx, NOx and black carbon, it can also mitigate other negative impacts, says comparative review.
South China fuel oil volume to fall in May Due to turnarounds at several local refineries, say sources.
Four charged in Singapore bunkering case Charges follow investigation by Singapore's Corrupt Practices Investigation Bureau and MPA.
Belgium gas operator eyes LNG marine fuel oppportunities Fluxys Belgium working with 'various market operators', it notes
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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