Navios Acquisition in new $120m fundraiser Bulker company Navios Holdings will take half the placement
Accredition of armed guards certification bodies begins Accreditation of UK certification bodies to be complete by year-end
Owners must not blend new standard with old vetting procedures Time will tell how accreditation evolves during pilot tests
Chinese banks ink more agreements for Greek owners Shipping dominates multi-million dollar business accords on sidelines of Samaras visit to China
Security industry players advise on challenges of international standard Three security industry players offer advice
Yemen's shining light Balhaf liquefaction plant lights a beacon of hope for the country's LNG
Another day, another accreditation for private maritime security Due diligence has become a watchword for the armed deterrent
GAC secures Caspian support vessel contract Energy and shipping firms scramble for lucrative Kazakh oil and gas opportunities
East Siberia crude export volumes may disappoint tanker owners Growth may be less significant than many have hoped, says expert
Global energy projects overshadow Africa's oil and gas potential Yet opportunities beckon in Algeria, the Sudans, Nigeria, Angola and east Africa
Shipowners shed no tears over troubled South African refinery Planned venture would cut regional employment for Middle East product tankers
Guangzhou Shipyard International confirms restructuring drive Advisors hired to assist, says Chinese yard
Commerzbank plans internal warehousing scheme Exclusive: Lender will acquire vessels linked to non-performing loans
Fishing boats bear brunt of attacks Gulf of Aden Transits chief operating officer Gerry Northwood tracks Bay of Bengal piracy
Koch books VLCC for a year to sidestep rising spot market Locking in deals now could be the sensible option for charterers, say experts
DSME profits slide Higher offshore building costs contribute to 38% first-quarter decline, says Seoul analyst
STX Dalian hopes for capital with help from municipal government STX Offshore & Shipbuilding confirms co-operation but offers no details in response to rumours that it will sell China yard
Low dry bulk rates weigh down Thoresen Thai Bangkok company hunts low-price vessels despite expecting no turnaround this year
Safe Bulkers books two new eco-bulkers in Japan Owner agrees early wind-up of another three period charters with compensation
Eagle Bulk scores a first-quarter profit Supramax specialist reports gains from Korea Line settlement and lower costs
Hammond denies failure to support private maritime security firms Shipping minister bites back after industry slams lack of government backing
Heavylift fears delays to large energy projects Setbacks create headaches for vessels employed to ship equipment to plants
Bangladesh-based pirates pose a real threat to shipping Gangs learn lessons from attacks off east and west Africa, says Frodl
Shippers and carriers shun contract renewals Falling spot rates sap confidence in annual benchmark deals
Long Beach beats Los Angeles on throughput yet again Port posts 12% increase in April box volumes as its rival reports a 9.5% fall
Green ship blues Rush to buy fuel-efficient dry bulk ships will prolong a familiar problem
Navios Acquisition raises $120M ANGELIKI Frangou-led Navios Acquisition today announced the sale of almost 32.9M shares to generate gross proceeds of $120M
Dalian government to buy STX yard PLANS are under way for Dalian's municipal government to take over STX's yard in the Chinese city
More redeliveries for Safe Bulkers NYSE-listed Safe Bulkers has confirmed its continued acceptance of early redeliveries given pressure on its counterparties
Songa Offshore restored to financial health Songa Offshore, the Oslo-listed semi-submersible drilling rig owner, has returned to financial health following the sale of one rig, the company said
Eagle warns on covenants NASDAQ-listed Eagle Bulk has posted continuing adjusted losses and warned of potential covenant issues in 2014
DSME's 1Q profit down 45% DAEWOO Shipbuilding & Marine Engineering's 1Q13 profit fell 45% year-on-year to 48Bn won ($43M), disappointing analysts who expected as much as 87Bn won
MOL orders LNG carrier MITSUI OSK Lines has ordered a 155,000cm3 LNG carrier from Mitsubishi Heavy Industries, Japan's biggest ship owner said today
Sainty Marine profits from loan interest SHANGHAI-listed Sainty Marine collected RMB45M ($7.32M) it lent in 2012, as well as its due interest, the company announced today
JES swings to red SINGAPORE-listed JES International said losses for the first quarter amounted to 92.5M yuan ($15M)
Wind energy firm expands into offshore SHANGHAI-listed Shanghai Taisheng Wind Power Equipment plans to buy a 51% stake in Nantong Blue Island Offshore for 198M yuan ($32M), to ramp up its offshore wind tower manufacturing business
Slowing deliveries helping Capesize rates SLOWING newbuilding deliveries are lending support to Capesize freight rates, said drybulk consultancy Commodore Research
Bigger loss seen for NOL NEPTUNE Orient Lines could be staring at a bigger full-year loss after it made a 1Q13 core loss of $117M, said analysts
China granted observer status CHINA, together with five other states, has been granted observer status in the Arctic Council, Xinhua News Agency reported
TTA files more losses THORESEN Thai Agencies posted more losses to 257M baht ($8.6M) in the second quarter ended 31 March, mainly blamed on still depressed dry bulk shipping
Logwin Moves Warehousing, Logistics Operations in Vietnam Logwin has moved its Vietnam warehousing and logistics operations into a new facility close to Hanoi, which will serve the country's northern region. The logistics company's facility comprises 5,200 square meters of bonded warehousing and long-term storage space. It also contains an area for specialist logistics services, mainly for fashion industry...
Strong Growth for Japan's Economy The Japanese economy grew 0.9 percent in the January-March quarter from the preceding quarter, or at an annualized pace of 3.5 percent, in real terms, the Cabinet Office said in a preliminary report on May 16. It was the second consecutive quarterly expansion. The pace of growth in the January-March period...
Public-Private Partnerships Part of Australia's Road, Rail Infrastructure Plan The Australian government has unveiled the next phase of its $60 billion road and rail infrastructure investment program as part of its 2013-2014 budget, inviting private investment via public-private partnerships. The second phase of the government's national building program, which is intended to upgrade Australia's land transportation infrastructure, begins in 2014-2015...
North American Retailers Propose Safety Standards for Bangladesh Factories The North American Bangladesh Worker Safety Working Group, a collaboration of five U.S. and Canadian apparel and retail associations, has outlined a set of proposals to further its commitment to improving worker safety in Bangladesh, in the wake of recent accidents at apparel production facilities in the South Asian nation. The...
US Industrial Production Index Sees Largest Drop in Eight Months The U.S. Industrial Production Index was down 0.5 percent month-to-month in April 2013, the largest decline since August 2012, according to the latest retail report from the Board of Governors of the Federal Reserve System. This follows an increase in March that saw the index reach its five-year high. U.S. Industrial...
Great Lakes Dock and Dredge Wins Miami Contract PortMiami to be deepened in time for Panama Canal expansion.The U.S. Army Corps of Engineers awarded Great Lakes Dock and Dredge a contract to deepen the Port of Miami's channel to 50 to 52 feet, PortMiami announced. Dredging is expected to begin in August and be completed in time for the...
Kent Bicycles Opens Georgia Warehouse Kent Bicycles plans to move more than 7,000 TEUs per year through the Port of Savannah.Kent Bicycles opened a distribution center in Savannah, Ga., with plans to move more than 1.3 million bicycles, or 7,000 20-foot-equivalent units, a year through the Port of Savannah, according to Arnold Kamler, CEO of parent...
North American Intermodal Traffic Up Six Straight Weeks North American intermodal traffic was up year-over-year for the sixth consecutive week, according to the Association of American Railroads. This pushed volume to its highest level since March 2. North American rail volumes through May 11, 2013 Full-size image Combined North American carload volume in the week ending May 11, including all three North American...
US Exports to Colombia on the Rise U.S. manufacturing and agricultural exports to Colombia are on the rise, as the trade agreement between the two nations reaches its one-year mark, according to Acting U.S. Trade Representative Demetrios Marantis. U.S. manufacturers have "substantially" increased exports of transportation equipment, petroleum and coal products, processed food and computer and electronic parts, while...
What Ports Need to Attract Mega-Ships ... LONG BEACH, Calif. - As North American container ports compete fiercely for market share, it's becoming clear that the winners will be those that reliably and efficiently handle mega-ships on the water and land side of the berths. "Shippers want consistency, reliability and service at a low cost," Alan McCorkle, senior...
WRDA 101: Everything You Need to Know The Senate's passage of the Water Resources Development Act on Wednesday paves the way for increased investment in ports, and speedier completion of maritime and inland waterway projects. Because the bill is 294 pages and far from a page-turner, The Journal of Commerce decided to break down what the Senate...
US House Agriculture Committee Approves FARRM Bill Members of the U.S. House Agriculture Committee have passed the Federal Agriculture Reform and Risk Management Act in a 36-10 vote. The bill will now head to the floor of the House of Representatives for consideration. The legislation would repeal more than 100 programs and make a variety of other changes...
C.R. England Names Scott, Brown as Division Presidents C.R. England has appointed Sam Scott and Tracy Brown as new division presidents, according to Chad England, CEO of the transportation company, No. 16 on JOC's list of the Top 50 Trucking Companies. Scott will take the role of president of national and regional divisions, and Brown will assume the role...
EU's Trade Surplus Expanded in March The European Union's trade surplus expanded to €15.8 billion (appoximately US$20.4 billion) in March, as exports increased and imports fell compared with the same month in 2012. On a seasonally adjusted basis, EU27 exports rose 3.4 percent from February's level, while imports shrank 1.1 percent. The first estimate for the trade in...
Meridian Port Services Adds RTG Cranes at Ghana Terminal The RTG cranes have a lifting capacity of 40 tons.Meridian Port Services' container terminal in Tema, Ghana, is currently erecting five Konecranes rubber-tire gantry cranes. The cranes are part of an order placed in August 2012. MPS already operates four Konecranes RTGs, which were delivered fully erect in March 2013. The electric,...
Port of Hamburg's Container Traffic Down Slightly in First Quarter The Port of Hamburg handled 32.8 million tons of seaborne cargo in the first three months of 2013, putting the German port "back on a growth course," fueled in particular by a 6.3 percent year-over-year increase in bulk cargo. The port moved 2.2 million 20-foot-equivalent units in the first quarter, reaching...
Far East Asian Exports to North America Jump Containerized exports from Far East Asia to North America saw significant month-to-month and year-over-year jumps in March 2013, according to data from Container Trades Statistics, Ltd. Of the past four months, three have shown increases over the same month of the year prior. Far East Asia to Australia/Oceania Far East Asia exported...
Report: China to Become Top Importer of Rice Despite its efforts to boost grain yields for the 10th consecutive year, China - the world's largest rice consumer - is expected to become also the largest rice importer in 2013/14, according to a newly released report by the U.S. Department of Agriculture. The country's rice imports this year will rise to 3.0 million...
EGLE takes flight Shares of Eagle Bulk Shipping soared Thursday after the US owner posted a first-quarter profit that caught many forecasters off guard.
Nickel deal haunts NEWL NewLead Holdings of Greece has been forced to postpone the filing of its annual report indefinitely in a move that appears to have jeopardized its Nasdaq listing.
Barito dispute for London Golden Ocean has won a London high court injunction preventing Humpuss Intermoda Transportasi pursuing a charter dispute through arbitration in Singapore.
LSC loss grows Lithuanian Shipping Company (LSC) has posted a bigger loss in the first quarter as currency movements hit the bottom line.
Bergen delays yet again Bergen Group has signalled yet another delay to the delivery of a cruise ferry to Fjord Line.
Fesco goes again Russian container line Fesco has sold another $75m of bonds two weeks after placing $800m in its first international issue.
Frangou flush Navios Maritime Acquisition has collected $120m from its latest trip to Wall Street.
Lauritzen bathed in red A pick up in its tanker division was not enough to prevent J Lauritzen crashing to a big first quarter loss.
Norden heads the pack Norden may have missed forecasts in the first quarter but the Danish owner is without equal for investors looking at the shipping market, DNB Markets says.
GSI revamp likely China's Guangzhou Shipyard International (GSI) is working on a potential restructuring of its major assets.
Cash kings to reign Owners dipping into the second-hand dry-cargo market have nothing to lose, says Greek broking firm Intermodal.
Subsea 7 soars Oslo-listed Subsea 7 has pushed up first-quarter earnings as its work backlog topped $10bn.
More jail time for fraudster A fraudster who falsely purported to be a member of the Kollakis Greek shipowning family was today sentenced to 11 years imprisonment rather than the seven year jail time originally ordered.
Jaya hit by hold ups Jaya Holdings is set to see earnings come under sustained pressure from delays to a number of vessels it is building for its own fleet, analysts say.
Boxships to hurt Maersk? AP Moller-Maersk may pull down its 2013 profit guidance when it reports its first quarter numbers tomorrow, RS Platou Markets believes.
TUI cruise loss grows German group TUI has seen losses widen for its cruiseship operations in the first six months.
Preparing to pounce Peter Livanos-led GasLog is looking to build up its dry-powder to move on attractive opportunities in the LNG market.
Dutch orders drop Dutch shipyards booked 35% fewer vessels in a "challenging" 2012.
Dof bags $50m Norwegian owner Dof has clocked up a series of new subsea contracts in Asia Pacific.
One hurt in crane fall A Filipino seafarer has been seriously injured after a crane collapsed on a bulker in New Zealand.
Four into three A group of eight container lines is restructuring Asia to South America services in "challenging trading conditions."
TTA weaker in the first Thoresen Thai Agencies (TTA) suffered a bigger first quarter loss but the company brushed the result off as a "temporary setback".
Rickmers' eco mission Rickmers Holding will have an expansion arsenal worth almost $130m should its trip to the bond market prove successful.
IMO under fire Environmental NGOs are outraged at an International Maritime Organisation decision to stall change towards cleaner shipping, which they say will jeopardise people's health.
MTT targets box duo Malaysia's MTT Shipping is looking to buy two more boxships for domestic trade.
MHI wins LNG order Mitsui OSK Lines (MOL) has returned to domestic shipbuilder Mitsubishi Heavy Industries for another LNG carrier newbuilding.
DIS in private equity deal d'Amico International Shipping has taken up options on two eco newbuildings and sold one of the ships on to a private equity investor.
Chonhaiji chases orders Block producer Chonhaiji of Korea is moving into shipbuilding with its debut cargoship deal.
NOF inches into profit Northern Offshore has made a positive start to 2013 after returning to profit in the first quarter of the year.
IRISL hurting Sanctions have cut Iranian owner IRISL's revenues by half, according to its boss.
Daewoo disappoints Korea's Daewoo Shipbuilding & Marine Engineering has posted first quarter figures well below analysts' estimates.
Fortune Elephant held A second TMT-owned VLCC has been arrested by the Singapore authorities, TradeWinds has learned.
Aegean profits head up Aegean Marine Petroleum has posted a 14% jump in first quarter profits despite a decline in revenues.
Fredriksen diddled John Fredriksen looks to have been the victim of unscrupulous bunker practices in squeaky clean Singapore.
Eagle back in black Eagle Bulk has returned to profit in the first quarter of 2013 on higher revenue, lower costs and gains from charter terminations.
SB hit by handoffs Safe Bulkers (Safe) of Greece has accepted early redelivery of three vessels that were tied to lucrative period contracts penned at the height of the market.
Drewry says container rates at 15-month low The London-based firm said its global freight rate index, which covers 600 trade routes, fell 12 percent in April to reach its lowest level since February 2012, when container shipping was still recovering from a price war.
Report: Central America should embrace intermodal
Postal group signs deal with Amber Road
NetSuite opens doors to Descartes, Freightgate
APL expands partnership with INTTRA
Con-way prepares for HOS rules despite court challenge
U.S. exports to Colombia up 20% with FTA U.S. exports of transportation equipment, petroleum and coal products, processed food, and computers and electronics have risen to Colombia, while U.S. farmers saw growth for soybean, wheat, grape, pork, and dairy product shipments.
Hapag-Lloyd announces change in GS1 Service Starting with the voyage of the ship Suape Express (1316N), the GS1 will replace the northbound call of Caucedo, Dominican Republic with Cartagena, Colombia. The first call in Cartagena will be on June 10.
Ingram Micro's reverse logistics facility in Costa Rica The facility is designed to support Ingram Micro Mobility's growing business in Latin America. Initially, it will be dedicated to supporting the company's mobile device lifecycle services, specifically device recovery and technical repair.
Rickmers raising 200 million euros through bond sale
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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