Ferry with nearly 700 passengers sinks in Philippines Collision between aged cargo ship and ferry kills at least 17 people while hundreds remain missing
Libya threatens to bomb tankers lifting unauthorised crude Six tankers are currently at Libyan ports, with a further tanker waiting in Libyan waters
China reviews VAT regime after complaints Beijing seeks to improve tax codes after outcry from domestic and foreign players over higher financial burden
Maersk outperforms rivals with bumper second-quarter results Cost cuts of $892m enable world number one box line to ride out poor market conditions
Maersk results please investors Danish shipping and oil group's shares lifted to their highest in over a year
Ultrabulk profits leap Dry bulk operator says it has maintained a long-term cargo book with solid counterparts
Maersk Tankers suffers second impairment Second-quarter $280m impairment follows $268m charge reported in third quarter of last year
Hamburg box volumes up 2% in first half Germany's leading container port sees throughput of 4.5m teu
Maersk establishes fifth division Services & Other Shipping unit aims for annual net profit after tax of $0.5bn by 2016
Flag states must be ready for MLC so that shipowners can be, says ILO Some ratifying states are yet to publish any form of guidance for shipowners
MLC proves problematic for shipping, says IMEC Flag states have been too slow to offer guidance but a level playing field is welcomed
July is Los Angeles' best month so far But volumes still remain lower than those seen last year
Skaugen remains optimistic on Middle East chemical and gas trades Group posts $4.5m second-quarter loss
No-shows still a problem for box lines Phantom bookings are a "major headache" for ocean carriers, says Drewry
Suez Canal transits continue as normal despite Egypt uprising Operations 'running smoothly' as national state of emergency declared
Pacific Basin lands $51m Japanese export credit for two newbuildings Finance for handymaxes follows $85m loan for four ships from Bank of Tokyo Mitsubishi
DSME records higher operating profits in second quarter But net profits of South Korean shipbuilding giant fall on non-operating losses
Kuehne+Nagel names new chief Former Schenker AG board member Detlef Trefzger to head logistics firm
It's not easy being green Maersk Line's Jacob Sterling talks about developments in eco-nomics
Giving the customers what they want Shipowners today have very different demands when ordering a new vessel
GasLog hints at further growth as BG ships confirmed Owner clinches double LNG order backed by seven-year charters
APM's group profits fall 11% DENMARK'S AP Møller-Maersk conglomerate today reported a fall in 2Q13 net profits, on weakness in its oil & gas and logistics units and at Maersk Tankers
Tanker owners risking 'buyer's remorse' McQUILLING Services has expressed caution and surprise at the rise of tanker ordering during the first seven months of this year
APM combining several units MAERSK Tankers is to be combined with towage unit Svitzer, logistics arm Damco and other service units in a single new division, parent AP Møller-Maersk said today
Mercator's profits fall 42% MUMBAI'S Mercator shipping conglomerate today reported a 42% fall in year on year net profits over April-June, to 99.7M rupees ($1.62M)
Switch proposed from US harbour tax BOXES BOUND for the US diverted through Canadian and Mexican ports could be reclaimed by US ports with a new user fee, two lawmakers have proposed
Crude cargoes from Manitoba proposed A DENVER group plans to transport Canadian crude cargoes from a Manitoba port to Europe, IHS World Markets Energy reported today
Sainty Marine's profits soar for 1H13 SHENZHEN-listed Sainty Marine said today its profits soared 96% year on year in 1H13, mostly on interest income and the shipbuilder's expansion into non-shipbuilding businesses
Capesize rates hit high STRONG Chinese iron ore demand and a typhoon in South China today pushed Capesize rates to a 2013 high
Lauritzen sees deeper losses J LAURITZEN today warned that losses will be much deeper for this year than in 2012
Pacific Basin gains $50.9M loan for two newbuildings HONG KONG-listed Pacific Basin Shipping said today it had secured a $50.9M loan to finance the building of two Handymax bulkers
Andersen hails Maersk's edge in sector MAERSK Line outpaced profits of other box shipping companies in 2Q13 and met its own target in EBIT margin for third consecutive quarter, the CEO of parent APM said today
CSSC's orders rise 133.3% CSSC, one of China's two largest shipbuilding giants, said newbuilding orders surges 133
Full-year HMD losses seen HYUNDAI Mipo Dockyard's surprising 2Q13 losses have suggested that the South Korean shipbuilder might bleed red ink for the full year, said analysts today
CNOOC to build China's first FLNG unit CHINA's first floating LNG terminal project in Tianjin has won government approval, CNOOC Gas & Power said
BW selling decade-old VLGCs BW GAS is reportedly selling at least three VLGCs that were built in the early 2000s, brokers told Fairplay today
Ports Urged to Plan Ahead for Power Needs Port authorities should be preparing now for the demands they will make on local power grids as terminals automate their operations and shipping lines plug their vessels into shore-side electrical power while at berth. The ports of Los Angeles, Long Beach and Oakland on Jan. 1, 2014, will provide the industry...
BNSF Railway Details Capital Investments in Montana and North Dakota BNSF Railway has allocated $115 million for Montana and $220 million for North Dakota for maintenance and rail capacity expansion projects this year. BNSF will expand capacity in Montana by building three new unit train staging tracks about three miles east of Glasgow and will add machine vision technology at Miles...
California Air Resources Board Fines Three Shipping Firms The California Air Resources Board has fined three international shipping companies a combined $440,250 for failure to switch from bunker fuel to low-sulfur marine distillate fuel upon entering regulated California waters, as required by state law. "Ships en route to California ports emit thousands of tons of diesel exhaust each year,"...
US Intermodal Traffic Growth Accelerates U.S. intermodal volume for the week ending Aug. 10 saw a 6.1 percent increase year-over-year, according to the Association of American Railroads, up from 2.4 percent growth in the week of July 27. Combined North American carload volume for the three North American Free Trade Agreement partners rose 1.7 percent from the same...
HMT Replacement Plan Responds to Washington Ports' Loss of Market Share Change in market share of the ports of Tacoma and Seattle, 2007 to 2012. Full-size image Legislation being introduced by Washington state's two U.S. senators to replace the Harbor Maintenance Tax with a new levy on U.S. containerized imports reflects a stark reality: Washington's two container ports, Seattle and Tacoma, have for years...
Livingston International Names Preston CEO Livingston International has appointed Steven C. Preston as its new CEO, effective immediately. Preston will lead the next phase of Livingston International's evolution, building on the momentum achieved by Livingston's management team under the leadership of Peter Luit, according to the North American customs broker. Preston succeeds Luit, who is retiring from...
Baltimore Customs Intercepts Chicken Skeleton Shipments The seven cases of intercepted chicken skeletons from China appeared to be intended for display or educational purposes.Baltimore U.S. Customs and Border Protection officials have intercepted seven shipments of uncertified chicken skeletons from China. According to the U.S. Department of Agriculture, China is considered to have present highly pathogenic avian influenza,...
Shipping's Chain Reaction Just when it appeared that some rate level improvement might be in the offing, especially in the pivotal Asia-Europe trade, recent reports reveal that rates fell again in early July. Rates had been on the upswing, and increases announced to take place on July 1 seemed to be holding. Always in...
Ocean Carrier Rate Revision Roundup for Aug. 16 Major container lines have announced rate increases for a variety of trades, as detailed below, slated to take effect in August, September and October: Intra-Asia Four carriers implemented rate hikes on Aug. 15: APL increased rates in its trade from South Korea to Nhava Sheva and Pipava, India, by $50 per 20-foot container,...
Congress Faces Tough Fiscal Decisions on Infrastructure Lawmakers are running out of tricks to prevent a looming bankruptcy of the Highway Trust Fund, and shippers and transportation operators need to prepare for the nation's ailing surface transportation network, so critical to the movement of their goods and materials, to grow even worse. Last year, legislators scrambled to find...
SCFI: Shanghai-to-US Spot Rates Show Further GRI Erosion Spot container rates to the U.S. East and West coasts measured by the Shanghai Containerized Freight Index for the week ending Aug. 16 show further erosion of the Aug. 1 ocean carrier general rate increase of $400 per 40-foot container to the U.S West Coast and $600 to the East...
SCFI: Shanghai-Europe Spot Container Rates Slide Spot container rates from Asia to Europe measured by the Shanghai Containerized Freight Index slid further in the week ending Aug. 16. This was the steepest week-to-week decline in 13 weeks in the northern Europe trade and in 18 weeks in the Mediterranean. "Clearly, there is a disconnect between claims of...
APM Terminals' Profit Rises Despite Flat Traffic APM Terminals boosted second quarter operating profit to $179 million from $160 million a year ago even as traffic stalled in a growing global market. A.P. Moller-Maersk's port arm handled 9.1 million 20-foot-equivalent units in the three months through June, unchanged from the same period in 2012, as lower activity in...
Drewry Trans-Pacific Benchmark Falls $100 Drewry Container Rate Benchmark, Aug. 14, 2013 Full-size image Average eastbound spot container rates in the trans-Pacific lost half of the $200 per 40-foot-equivalent-unit increase gained as the result of a planned Aug. 1 rate increase. The $200 that carriers had achieved was just 50 percent of the proposed peak-season surcharge of $400...
LA-LB Container Volume Increased 2.3 Percent in July July container volume at the Port of Long Beach (shown above) totaled 562,166 TEUs, up 7.6 percent.The Los Angeles-Long Beach port complex's total container volume in July was 1.3 million 20-foot-equivalent units, rising 2.3 percent from 1.2 million TEUs in July 2012. Loaded containers moving through the nation's largest port...
Pilot Program to Test Importing Fruit Through Florida Ports State and federal agencies are working to finalize a pilot program to bring grapes and blueberries from Peru and Uruguay into Florida's Port Everglades and PortMiami, starting in October. The permit to proceed is expected to be approved this month. Current regulations dictate that grapes, blueberries and other perishables must first be...
Roadrunner Acquires TA Drayage Roadrunner Transportation Systems has acquired certain assets of the U.S. Southeast drayage division of Transport Corp. of America, an intermodal transportation provider in the Southeast, for about $1.2 million. The acquisition was financed with cash on hand from Roadrunner, No. 15 on the JOC's list of the Top 25 Less-Than-Truckload Carriers....
Cost-Cutting Helps Maersk Line Nearly Double Profit Maersk Line almost doubled its second quarter profit as above-target cost cuts, buoyed by lower fuel prices, more than offset sluggish growth in container volumes and a double-digit decline in freight rates. The world's largest ocean carrier posted a net operating profit of $439 million in the three months through June,...
NNA torches rumour Navios Maritime Acquisition Corp has poured cold water on rumours that it is selling an ageing VLCC to Chinese trading conglomerate Sinochem.
Rumour divides market Sale-and-purchase brokers were scratching their heads Friday following unconfirmed reports that a leading Chinese energy conglomerate may have acquired an ageing VLCC from Angeliki Frangou's Navios Maritime Acquisition Corp.
WB in the black Norwegian bulker operator Western Bulk managed to eke out a profit in the first half of 2013 despite a chronic downturn that continued to plague its core markets.
Cargill takes three Cargill has increased its period chartering activity just as dry-cargo rates started moving in the right direction.
Nickel ore claims another Trans Summer, the one year old 56,824-dwt bulk carrier which sank off Southern China earlier this week, was a carrying a cargo of Indonesian nickel ore TradeWinds understands.
Eagle CEO's pay clipped For the first time ever disgruntled shareholders have succeeded in capping the pay of shipping company executives in the US.
Libya threatens ships Libya has threatened to bomb ships if they approach its ports without a contract to pick up oil.
Chat circles Greek VLCCs Dynacom of Greece is rumoured to be selling a series of modern VLCCs to a joint venture backed by PDVSA.
Diana stretches Thetis Diana Shipping has signed a period deal for a panamax bulker at the centre of a pollution row in the US.
Ultrabulk boosts profit Ultrabulk has recorded an improved first half profit amid expectations of further newbuilding investment.
The best or worst of times? We take a look at what was said in the market over the past week.
Maersk hits year high A stronger than forecast profit from Maersk Line sent shares in parent AP Moller-Maersk racing to the highest level in a year today.
Jaya's surprise dividend Jaya Holdings' decision to hand a generous pay out to shareholders has taken the Street completely by surprise.
Clipper VL deals in doubt TradeWinds digests the digits making the headlines this week.
MISC falls in the second Malaysian shipowner MISC has booked a drop in profit for the second quarter as revenue fell.
Maersk Tankers protected? AP Moller-Maersk has hatched a plan which aims to return its tanker business to profit and improve the showing of its smaller business units.
BW plots IPO path BW Gas is preparing an initial public offering (IPO) half a decade after the Sohmen-Pao family took the company private.
Maersk Line aids Moller AP Moller-Maersk reported a big drop in second quarter results Friday with pre-tax profit down 28% to DKK 8.9bn ($1.5bn).
Sales boost Swire Pacific Swire Pacific's marine division has reported a 71% increase in interim profit thanks to a number of vessel disposals.
Svitzer to the rescue Svitzer has secured the contract to provide the bulk of emergency towage services in Australian waters.
PB seals Japan credit Pacific Basin said Friday that it had secured export credit financing for two handymax vessels on order in Japan.
GasLog books two more GasLog, the Peter Livanos gas carrier owner, has ordered two more LNG carriers at Samsung Heavy Industries.
Suez unaffected The Suez Canal has not been affected by the state of emergency declared in Egypt according to shipping agency GAC.
K+N taps Trefzger as CEO Detlef Trefzger has been promoted to chief executive officer of global freight forwarder Kuehne + Nagel International after having joined the company just five months ago as executive vice president of contract logistics, the company announced Thursday.
Senators seek fee to replace harbor maintenance tax Senators Patty Murray and Maria Cantwell are proposing to replace the tax with the "Maritime Goods Movement User Fee," which would apply to all entry points for U.S.-bound cargo, with proceeds going toward port upkeep.
DPD outfits drivers with Honeywell scanners
Europe asks WTO to look into Chinese duties The formation of a WTO panel to look into the anti-dumping duties will be discussed at the organization's meeting on August 30. Chinese officials are allowed to block the request at the meeting, but the EU can bring up the issue again.
Liner operations a 'bright spot' for A.P. Moller-Maersk
Suez Canal remains open amid Egypt unrest The Suez Canal Authority said 68 ships crossed the canal with a record total load of 4.8 million tons on August 9, but concerns are rising about the impact of the Egyptian unrest.
Truck freight volumes rise in July, bucking trend Freight volumes in July rose by 0.5 percent compared to the previous month, something not seen since 1996. Historically, the month-to-month freight result has averaged a 20-percent decline.
U.S. inspectors seize illegal Land Rover shipments
Weekly global market update A weekly price round up from bunkering hubs around the world.
Fuel prices end week higher in the Americas Demand was said to be poor in Houston on Friday.
Combined effort needed for South African bunker sector to flourish 'There are plenty of compelling reasons for the bunkering industry to flourish in such an ideal environment,' says Amoil Director.
Aegean to announce earnings on Monday Shares of firm opened strongly on Friday.
ABB to supply propulsion transformers to Chinese shipbuilder Compact dry-type transformers offer 'high efficiency and reliability' due to fewer moving parts, as well as lower noise levels and weight.
Dan-Bunkering welcomes new bunker trader Vestergaard began his career with Dan-Bunkering back in 2003.
Prices display mixed trend in Fujairah South African prices firming.
Russian supplies strengthens its Black Sea presence Gazpromneft Marine Bunker deploys another bunker tanker.
Prices soften in Northwest Europe But Mediterranean prices firming.
Lower bunker bills behind surge in Maersk Line profits Container shipping giant's Q2 results 'knock you off your chair'.
Asian bunker prices end week without clear direction 'Average to 'slightly above- average' demand seen in Singapore.
Manufacturer confirms use of valves on LNG-fuelled ferry Bestobell 'continually pushing the boundaries' in valve design and technology, says spokesman.
Vessel arrested in Indian port KTB alleges there are outstanding debts on a bunker stem made in the South Korean port of Masan.
Minister in bunker row accused of double standards Spanish legislator turns spotlight on operations in northwest Spain.
Chinese domestic supplier swings to loss in Q2 Due to increase in cost of revenue, operating expense and interest expense, says Andatee.
Israeli shipping firm tests bunker analysis tool Petro-Marine XRF could be installed across its fleet.
Wartsila files patent for pipe to LNG bunker tank connection Patent will feature a bellows-like structure to absorb movement in piping system.
GasLog orders more tri-fuel newbuildings Vessels will feature 'fuel saving devices that make them extremely efficient', says CEO.
VTTI Malaysia terminal to complete upgrade in Q1 2015 Expansion includes 250,000 mt capacity of storage and new berth for aframax tankers.
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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