Soft market and low interest rates help insurers to underwrite for profit Industry must not underestimate the industry's excess capital, Bolt tells IUMI
Modelling can help marine insurers to save premiums for a rainy day Underwriters price for attritional losses or for major losses but not both, says Lloyd's expert
Slow global recovery boosts marine insurance premium volumes Europe generates half the world total and provides a backbone to growth
IUMI pledges to step up marine lobbying Secretary-general Lars Lange insists industry group will raise its voice even louder
Cargo-loss ratios top 70% IUMI expects Hurricane Sandy to dent 2012 cargo results
Unifeeder launches France-Russia service Shortsea specialist moves closer to its customers
Ford takes the helm at Gulftainer Salalah chief executive moves to Sharjah
Asians quit Global Shippers Forum after row over fees and membership Body opposed to mandatory box weighing left the industry group late last year
Fire-damaged Zim Rotterdam berths at London Gateway Terminal gives boxship a safe haven to discharge cargo
China's buyers in bullish form Far East dominates demolition but stronger rupee could signal upturn in India
Wikborg looks back on a year of change Salvage and political forums have proved 'crucial', says IUMI president
IUMI rejects industry plan to buy salvage equipment Underwriters pay out for claims not contingencies, says Wikborg
East Africa gears up for LNG export race Mozambique and Tanzania need to move fast to become major exporters
IUMI tackles wreck-removal costs West of England's Kelleher examines what is driving ever-larger bills
Kolding leaves Danske Bank Borgen replaces former Maersk boss, who moves on after 18 months
Shagang Shipping presses its case against HNA Hong Kong-based firm seized the cruiseship in a dispute with liquidated GCL subsidiary
ITF backs compulsory international container weighing Industry urged to support amendment to tackle dangers of unweighed or misdeclared boxes
Parbuckling Costa Concordia could start today Strategy to right huge cruiseship has never been tried on a vessel of this size before
STX closing Rauma yard, laying off 700 STX FINLAND confirmed today it will close its yard in Rauma due to low workload and concentrate shipbuilding in Turku
How Concordia's salvage scheme will work SALVAGE at last for Costa Concordia could be partly completed today
'Good faith' returns to haunt TMT A US DISTRICT Court judge has taken over TMT's Chapter 11 case in Houston and will re-examine whether the bankruptcy was brought in the US in good faith
Ezion acquires 1.7M shares in AML SINGAPORE-listed Ezion Holdings said today it has subscribed for 1.7M new shares of Australia's Aboriginal Maritime Pty Ltd for A$0.250M ($0.233M)
FSL wants bulkers back SINGAPORE'S First Ship Lease Trust is facing trouble with yet another charterer
CMA CGM cites GSL 'concerns' CMA CGM, the sole customer and largest shareholder in Global Ship Lease, might seek to control its board control
Mermaid wins $55M deal MERMAID Maritime said today its Indonesian unit has secured a two-year contract to provide offshore services worth $55M
Arrested cruise ship freed SHANGANG Shipping said China's first luxury cruise ship was allowed to leave South Korea about 2100 today after $2.7M promised by its Chinese parent HNA arrived to settle a legal dispute
More Capesizes offered MORE Capesize bulkers are up for sale this week, as buyers and sellers hope to cash in on the recent surge in freight rates
HHI's net yard income rises 55% HYUNDAI HI told Fairplay today net income from shipbuilding rose 55% to KRW6.8Bn ($6.2M) in August, from KRW4.4Bn year on year
STX Dalian sale seen gaining pace ON-OFF attempts by STX Offshore & Shipbuilding to sell its yard in Dalian, China, might be gaining pace
Yokohama Container Trade Sinks Yokohama Bay BridgeThe Port of Yokohama in Japan saw its container trade with foreign countries tumble 6.7 percent in the first half of this year from a year earlier to 1,284,352 20-foot equivalent units, according to preliminary figures released by the Yokohama municipal government. In the January-June period, the Port of...
New York Container Terminal Signs Deal to Handle Waste New York Container Terminal on Staten Island has entered a 20-year contract with Covanta Energy to move municipal solid waste in containers in a barge-to-rail transfer beginning March 2015. Under the agreement, the terminal will receive the containers via barge and load them directly onto railcars for shipment to Covanta's energy-from-waste...
Melford Group Acquires Land for Planned Nova Scotia Terminal The group that plans to build a container terminal at Melford in Nova Scotia has completed the purchase of the land along the Strait of Canso for the deep-water port. The Municipality of the District of Guysborough said it finalized the sale and transfer of the waterfront lands to Melford International...
Gulftainer Names Ford New COO Peter FordGulftainer has named Peter Ford its new group chief operating officer. Ford will be based in the United Arab Emirates, where the port management and logistics group has its headquarters. He will be charged with focusing on Gulftainer's international operations. "Peter Ford's appointment is in line with our goals to extend...
Drewry: Fuel Surcharges Should Be Falling Faster Shippers who hoped the advent of big new fuel-efficient container ships would cut their fuel surcharges are being disappointed. Those big new ships burn substantially less fuel than smaller ships, but most carriers are keeping their bunker surcharges at levels prevailing for the smaller ships, according to Drewry Maritime Research. "Bunker surcharges...
LASH Inventor Jerome Goldman Dies Naval architect Jerome L. Goldman, whose inventions included the barge-carrying LASH ship, died Sept. 5 at his home in New Orleans. He was 89. Goldman began his career with Higgins Industries in New Orleans during World War II and started his own naval architectural firm at the age of 22. He...
Shippers Versus Industry on Container Weighing A subcommittee of the International Maritime Organization will decide this week whether to move forward with proposals to introduce new rules making it mandatory to weigh loaded containers prior to shipment. Shippers argue that 100 percent checks would hamper supply chain efficiency by causing delays at ports and driving up costs. Lined...
Tanker Owner Buys Three More Container Ships Capital Product Partners, a Greece-based tanker owner, has acquired three more container ships for $195 million. The Nasdaq-listed company is partly funding the purchase of the 5,023-TEU vessels from a new $200 million senior secured credit facility with the Dutch ING Bank and HSH Nordbank, the German ship financier, and the...
RoadOne Expands Intermodal Drayage Network RoadOne IntermodaLogistics expanded its drayage and intermodal brokerage network by acquiring drayage operator Intermodal Inc. Terms of the transaction were not disclosed. The acquired company will function as the core of a new nationwide agent-based drayage and brokerage business, US IntermodaLogistics, according to RoadOne, which was launched in January. RoadOne operates 1,000...
GPA Reports Record Container Cargo for FY 2013 Georgia Ports Authority Executive Director Curtis Foltz addresses more than 1,200 attendees during the 2013 State of the Port address in Savannah, Ga. (GPA Photo/Stephen Morton)The Georgia Ports Authority handled more than 315,000 containers during fiscal year 2013 - July 1, 2012-June 30, 2013 - a record for the GPA. Georgia...
ITF Urges Action on Container Overloading Container overloading and the misleading declaration of container weights is taking center stage once again in the wake of the loss of the MOL Comfort, which broke in half and eventually sank in the Indian Ocean in July. The International Transport Workers' Federation cited the loss of the 5-year-old container ship...
Shippers Flock to Smaller Ports Miles From Coast With consumer demand moderate at best three years after the deepest recession in decades, major U.S. shippers aren't rushing to add distribution and warehousing space at the clusters of distribution centers around coastal seaports. Amid a slow and steady industrial real estate recovery, however, momentum appears to be accelerating at inland...
Inland Ports Expanding in Canada, Mexico Inland ports aren't just a U.S. phenomenon. Industrial real estate developments anchored by intermodal connections and access to highways are expanding in Mexico and Canada, too. One such initiative is in Monterrey, Mexico, where seven developers and investors are working to position a 3,300-acre site as a hub in the northeastern...
Concordia lifted off rocks Salvors today began the painstaking process of lifting the Costa Concordia off the Italian rocks where it has been stuck for the past 20 months.
Henna freed A Chinese cruiseship has been allowed to leave South Korea after the owner paid KRW 3bn ($2.7m) to free the vessel, reports say.
Seaspan springs buyback Big-spending Seaspan has revealed plans for a share buyback.
Odfjell to sell bonds Odfjell SE is mulling the sale of senior unsecured notes on the Norwegian bond market.
NNC crew strikes Crew of Egyptian bulker refuse to work in Australian port after wages cut by 50%.
Rand hit by mine closure Great Lakes bulker operator Rand Logistics will see second half earnings curbed by the shut-in of a Cargill controlled mine.
Dry default hits FSL First Ship Lease has seen contracts for its only two bulkers collapse just months after signing a pact which gave charterer OMNI Ships some breathing space.
BP vet joins Clarksons Clarksons has beefed up its boardroom with the addition of BP veteran Peter Backhouse as a non-executive director.
Outlook brightens A shipping recovery is good news for Singaporean rigbuilders struggling under the weight of competition from Chinese and Korean shipyards, according to analysts.
IRISL funds freed Iranian container line IRISL has won a key legal battle to free its funds in Europe.
Hong Kong holds trio Hong Kong port state inspectors detained three vessels during August, including a Taiwanese reefer with large amounts of oil in its bilges.
Havyard wins Havila job Havyard has bagged a major conversion job for a Havila Shipping owned offshore support vessel.
Cape supply overstated A surge in capesize spot rates suggests oversupply fears have been overblown, RS Platou Markets says.
Seven missing after smash One man has been killed and seven were missing on Monday after a collision between a fishing boat and a Simatech containership off Vietnam.
Noren makes speedy return Hans Noren appears to have patched up his differences with Dan Sten Olsson to make a swift return to the Swedish shipping empire.
Danaos scraps a sixth Greek owner Danaos Corp has scrapped its sixth vessel in the first nine months of 2013.
Ravestein adds another Dutch shipbuilder Ravestein has won another order for a dredger newbuilding.
STX shuts Finnish yard STX Europe is to close one of its two shipyards in Finland with the loss of 700 jobs.
DNB snares VLCC Gulf Navigation's troubles have deepened with the arrest of a VLCC on which it has already hung a for sale sign.
Cargo shift sinks Pasha A shifting cargo of plywood and containers sank a general cargoship off Turkey.
DeepOcean inks Brazil job DeepOcean has secured a two-year contract to provide subsea services to Brazilian oil company Petrobras.
Fund cuts Goldenport slice Hedge fund Eton Park has once again trimmed its investment in Goldenport Holdings.
Mipo nets gas ships Hyundai Mipo Dockyard has bagged a contract worth more than $180m for a series of gas carriers.
HES Beheer in demand Dutch port logistics and inland shipping company HES Beheer is in talks about a potential takeover.
Ocean Yield books PCTCs Ocean Yield has ordered two pure car truck carriers (PCTC) on the back of long-term charters from Hoegh Autoliners.
Still overloaded Shipowners are still overloading passenger vessels in Papua New Guinea despite the sinking of the Rabaul Queen last February.
Kassian cleared Greek operator Kassian Maritime has been acquitted of eight charges related to oil dumping from a bulker in the US.
Mermaid wins IRM work Mermaid Maritime has secured a potential three contract to provide offshore inspection, maintenance and repair work (IMR).
Ktistakis denied bail A US federal judge has overturned an earlier decision to release Lucas Ktistakis on bail over fears he maybe a flight risk.
Shagang arrests Henna A cruise ship owned by China's HNA Group has been arrested in South Korea over a long-running chartering dispute.
U.S. olive oil industry faces foreign challenges, ITC says EU government support programs contribute to high overall supplies of olive oil. Many small EU growers rely on costly traditional methods of production and have costs that are at or above global prices, the agency found.
IMO takes up container weight proposals
Obama nominates Jaenichen to head MarAd
RoadOne creates agent drayage and brokerage business
Lufthansa 777 freighters to serve N. America The planes will fly on routes from Europe to Atlanta, Chicago and New York. The airline is buying five 777s from Boeing. The planes have capacity for 103 tons of cargo and can fly without refueling for 10.5 hours.
Eimskip offices raided by competition authorities The shipping company said the Icelandic Competition Authority exercised a dawn raid at its premises last week "on the basis of a ruling" from Reykjavík District Court. Eimskip received no other details from the court.
SCM World survey finds GTM concerns top of mind The study, sponsored by GTM software vendor Amber Road, includes responses from 114 practitioners inside and outside of SCM World's membership in June, as well as follow up interviews with nearly a dozen executives.
'MBM debate is dead' says EU official ICS conference focuses on 'inevitable' MRV schemes at EU and IMO level.
August bunker sales fell in Singapore Volumes down year-on-year and month-on-month.
Asian bunker prices lacking direction Meanwhile, offices in Tokyo Bay remained closed for a public holiday.
NOT opens Singapore office Says presence in Singapore will be key driver for continued expansion through Asia.
Trinidad and Tobago should develop bunkering sector Caribbean nation needs to stay regionally competitive.
Dynamic Oil Trading appoints Dubai operation head New regional office head has over 20 years of international bunkering experience, says firm.
Bunker suppliers to appeal bunkering ban Russian suppliers' group says bunkering at berth only ruling represents a 'considerable limitation of competition'.
LR: Sail propulsion a fuel-saving proposition Concept could provide more than 50% of propulsive thrust for a vessel.
Black Sea ports included in bunkering rule change Tankers no longer allowed to bunker at offshore anchorages.
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