US LNG export OK affects carriers demand DEMAND potential for LNG carriers is nudging higher because of tentative US approval for a fifth permit to export the cargoes to countries not in free-trade agreements
STX Pan Ocean CEO resigns STX PAN Ocean's CEO Yu Chun Il has stepped down, leaving his co-custodian to manage the cash-strapped company in the interim
Long-haul box rates fall ASIA/Europe freight rates saw a second week of regression after yet another attempt at rate restoration
Drewry sees Jones Act as costly luxury MATSON's order for US Jones Act boxships demonstrates that "flag protectionism" is a costly luxury, a sector consultancy said today
Braemar sees 'bearish' box consolidation EVEN MORE consolidation in box shipping is probably ahead, Braemar Seascope Containers predicted today
Three ports to promote LNG bunkering SINGAPORE has signed an accord to co-operate on LNG bunkering procedures with Belgium's ports at Antwerp and Zeebrugge
BW LPG adjusts details for its IPO BW LPG today raised the minimum price for its IPO shares and cut the offer period
Newbuilding orders surge ORDERS for newbuildings in the three main shipping segments have surged year on year, broker Golden Destiny said today
Zodiac and Hamburg Süd sell 11 container ships ZODIAC Maritime and Hamburg Süd have sold 11 boxships en bloc
Wan Hai-Evergreen launches service TAIWAN carrier Wan Hai Lines said today it is joining Evergreen Line in launching a service linking northeastern Asian ports in Japan, South Korea and China with Ho Chi Minh City's ports
Subsea 7 profits drop FOREIGN exchange losses and flatlined sales ate into the interim profits of Subsea 7, the London-based seabed-to-surface construction company said today
Bumi Armada unveils FPSO deal BUMI Armada, Malaysia's offshore oilfield services provider, said today it has secured a letter of interim agreement for the supply and operation of an FPSO in the North Sea
Ship recycling rebounds in Bangladesh BANGLADESH finally saw a long-overdue recovery last week as surging steel prices once again renewed demand for scrap steel
Port of Los Angeles Truckers Kick Off 36-Hour Strike Port of Los Angeles truck drivers from Green Fleet Systems, American Logistics International and Pac 9 Transportation went on strike this morning to protest labor practices, according to The Waterfront Coalition. Picket lines were set up at the three companies, which are based in Carson, Calif., at 5 a.m. local time,...
Waterfront Family Feud News flash: Many longshoremen in the Port of New York and New Jersey are second-, third- or even fourth-generation dockworkers. Surprised? Neither am I. Longshoring isn't the only job that tends to be passed from generation to generation. "Legacies" are common in law firms, Ivy League admissions, and countless other activities. Just...
Celadon Buys Some Assets of N. Yanke Transfer Limited Celadon Group has entered into an agreement to acquire selected assets of N. Yanke Transfer Limited, expanding the North American motor carrier's footprint for over-the-road and rail services in Canada. Yanke operates approximately 300 tractors, including more than 100 team expedited trucks, and generated about $90 million in revenue in 2012....
Middle East Airlines Dominate Orders at Dubai Airshow Qatar Airways has placed a firm order for five new Airbus A330-200 Freighter aircraft in an agreement signed at the Dubai Airshow 2013.The Middle East's leading airlines made clear their common determination to boost passenger and freight market shares this weekend at the 2013 Dubai Airshow as they dominated the...
Allcargo Logistics' Profit Drops Allcargo Logistics Ltd., India's leading international freight forwarder and port-based logistics provider, said its consolidated net profit in the second fiscal quarter, which ended Sept. 30, was $6.7 million, falling 28 percent from $9.4 million in the same period of fiscal year 2012-13. Quarterly revenue increased 6 percent year-over-year to $170.4...
Air Freight Outlook "Encouraging," AAPA Says The profitability of Asian carriers with major freighter fleets continues to be negatively impacted by the overhang of excess capacity, but the long-term outlook for air freight is "encouraging," according to the Association of Asia Pacific Airlines. Rate and volume growth on major East-West trade lanes has been stagnant for much...
Speculative Construction Spikes in US Industrial Real Estate Market Industrial Buildings Under Construction - Q3 2013 Full-size image The key element of the industrial real estate market in the third quarter of 2013 was the growth of speculative construction, according to data and analysis provided by commercial real estate services firm Jones Lang LaSalle. Of the nearly 95 million square feet of...
Drewry: Repeal the Jones Act The U.S. Jones Act, which requires that U.S. domestic ocean cargo is carried from port to port in ships that are built in the U.S., manned mostly by U.S. seamen and flagged in the U.S., should be repealed, Drewry Maritime Research said today. The Merchant Marine Act of 1920, which is...
Peak Season Drives Busy October at Port of Virginia Cranes at the Port of VirginiaThe Port of Virginia handled 206,597 TEUs in October, jumping 17.8 percent year-over-year and surpassing the single-month record for TEUs that was just set in July, as a result of the peak season. "We knew we'd had a busy October, but to surpass that mark set...
CEVA Logistics Remains in the Red CEVA Logistics today reported a net loss of $54 million in the third quarter of 2013, compared with a net loss of $78 million in the same period last year. Revenue for the third-party logistics provider, No. 27 on JOC's list of the Top 50 Transportation and Logistics Companies, was $2.10...
Former Long Beach Mayor Warns Dissension Threatens Port Business MSC Fabiola at the Port of Long Beach, Calif.Former Long Beach Mayor Beverly O'Neill told the current mayor, Bob Foster, the city council and the Long Beach Harbor Commission that an item on the council's Nov. 19 agenda is ill-advised and could lead to a loss of business at the...
IAG Cargo Provides Relief Flight to the Philippines Following the devastating damage caused by Typhoon Haiyan, IAG Cargo, part of the IAG Group, has offered aid agencies the use of a freighter aircraft to fly emergency aid and supplies to the Philippines. A Boeing 747 freighter with capacity for up to 120 tonnes of cargo is scheduled to fly...
Wilh. Wilhelmsen ASA short-listed for the European Small and Mid-cap Awards 2013 Wilh. Wilhelmsen ASA short-listed for the European Small and Mid-cap Awards 201318.11.2013 (WWASA)Wilh. Wilhelmsen ASA is among three companies quoted on the Oslo Stock Exchange (OSE) now short-listed for the European Small and Mid-cap Awards 2013. The awards are part of a Europe-wide competition to highlight the best European small...
Winners of RoadOne's Elite Driver Program Named Randolph, Massachusetts, November 18, 2013 - RoadOne IntermodaLogistics, a leading single source intermodal, distribution, and logistics services company, announces today the winners of its RoadOne Elite owner-operator driver program, the top 1% of RoadOne's drivers. This award recognizes RoadOne driver excellence in: safety - one year accident free and limited violations; sustainable...
NYK Group to Aid Victims of Philippine Typhoon The NYK Group will donate 100,000 U.S. dollars through the NYK-TDG Friendship Foundation* and provide free transport of supplies to those directly affected by deadly Typhoon Haiyan (known locally as Yolanda), which struck the Philippines on November 8. In addition, the NYK Group has started to collect donations from executives...
Kansas City Southern Announces Operations Department Reorganization KANSAS CITY, Mo.--(BUSINESS WIRE)--Kansas City Southern (KCS) (NYSE: KSU) announced today the reorganization of several operations department functions. "These organizational changes will ensure the U. S. operating team is well structured and prepared to manage our rapidly growing business. We continue to develop our team internally and grow individuals with tremendous...
Senior FMC Executives Assume New Responsibilities November 18, 2013 NR 13-15 Contact: Karen V. Gregory, Secretary (202) 523-5725 Chairman Mario Cordero announced that the following FMC Senior Executives have taken on new leadership responsibilities: Florence Carr is now serving as Director, Bureau of Trade Analysis (202-523-5796). Rebecca Fenneman is now serving as Director, Consumer Affairs and Dispute Resolution Services (202-523-5807) Sandra L. Kusumoto is now...
LA-LB Container Volume Inched Up in October Port of Los AngelesThe Los Angeles-Long Beach port complex's total container volume in October was 1.26 million 20-foot-equivalent units, increasing 1.0 percent from 1.25 million TEUs in October 2012. Loaded containers moving through the nation's largest port complex inched up 0.1 percent over the level seen in October 2012, with imports...
AIG behind $400m loan AIG Commercial Asset Finance (AIGCAF) of the US has emerged as the provider of a $400m loan for an affiliate of Edison Chouest Offshore.
All eyes on VLCCs VLCCs trading in the spot market have watched freight rates skyrocket in recent weeks but it's unclear if the gains will continue.
Goldman downs Hornbeck Goldman Sachs downgraded shares of Hornbeck Offshore Services as it downplayed market optimism about rising rig counts in the US Gulf of Mexico offshore vessel market.
Jones Act under fire A leading maritime consultancy is taking aim at the Jones Act, a US cabotage law that protects domestic shipowners and yards from low-cost foreign competitors.
Varnavides confirms exit Long-time Royal Bank of Scotland (RBS) shipping chief Lambros Varnavides has confirmed reports that he plans to retire upon his 65th birthday next year.
Tech Project bins another Tech Project of Ukraine has continued a clearout of large bulkers with an $11m demolition deal, brokers say.
Star swoops for ultras Expanding Star Bulk Carriers has emerged as the owner behind the purchase of two ultramax bulkers from Daiichi of Japan.
Papadopoulos returns Dimitris Papadopoulos has returned to the chief financial officer's seat at Freeseas half a decade after quitting the post.
SCI's VLCC U-turn State-controlled Shipping Corp of India (SCI) has scrapped a plan to sell a modern VLCC after apparent disagreements with the government.
SNO falls to a loss Romanian shipyard turns to red in first nine months as revenue falls.
Navios makes VL case A unique breakeven rate and significant upside potential tempted Navios Maritime Acquisition to spend over $160m on three VLCCs last week, its chief executive says.
Logindo eyes $63m Indonesia's Logindo Samudramakmur is targeting up to $63m from its Jakarta IPO as it pursues new vessels.
Hanjin takes a tumble Shares in troubled Korean shipowner Hanjin Shipping tumbled to a 2013 low today after the company revealed it may tap financial markets for funds.
AHTS crewman injured A seafarer has been taken to hospital in the UK after an accident on a Simon Mokster anchor-handler.
"A miserable year" Shipping rates have endured their worst year since Joseph Hazelwood took to the stand, Nelson Mandela was released from prison and Germany reunified, Clarksons data says.
Crude seeks strike two Crude tanker scrapping could exceed newbuilding orders for the second year in a row, Jefferies says.
O'Neill takes over Insurance group Allianz will have a new European and Asian head of marine next year as Volker Bergeest retires.
Otto scores tug double Otto Marine has logged a repeat order to build a pair of harbour tugs for an Indonesia customer.
DasGupta triumphs Parthasarathi DasGupta is the 2013 TradeWinds Maritime Photographer of the Year following strong backing by readers in last week's vote.
Bond boost for Fjord Line Fjord Line has freed up over $12m while it looks to complete upgrade work to one of its vessels.
Femco turns to Havyard Havyard has clinched a deal with Russia's Femco to construct an ice-breaking offshore support vessel (OSV) at its Leirvik shipyard.
BW LPG in demand Intense investor demand has seen BW LPG narrow the scope of its initial public offering at the top end of the range and close the book on the issue early.
ABG debt deal delayed Indian shipyard ABG's debt restructuring plan has failed to gain the backing of a majority of its lenders.
Subsea 7 slips back Oslo-listed offshore shipping group Subsea 7 has seen profit cut in the first nine-months as revenue dropped.
Lines join forces Container lines Evergreen and Hanjin Shipping are teaming up for a run to south-east Asia.
Pacific profit nose dives Investors in Pacific Radiance, which only listed in Singapore on Wednesday, have already received their first bit of bad news.
Seadrill snaps up rig Seadrill's hunger for drilling rigs shows no signs of abating after it picked up a distressed asset in China.
Fire on DFDS ro-ro Firefighters have managed to extinguish a blaze aboard a DFDS ro-ro ferry after it caught fire in the North Sea.
Denmark's Davos Denmark is looking to promote its maritime cluster through a series of events already being dubbed the Davos of shipping.
DSME beats expectations DSME, the South Korean shipbuilder, has reported a strong set of third quarter results easily exceeding analyst's predictions.
10 new VLs pending Two high-profile shipowners are pursuing VLCC newbuilding orders in a sign of shifting sentiment toward the long-maligned sector.
Everglory released A Standard Chartered-owned bulker caught up in a legal dispute over unpaid bunkers has been released from arrest in Singapore.
BNSF to redevelop Texas yard for oil, ag sectors At Sweetwater, one facility will offer space for materials required to drill for shale oil and gas in the Permian Basin and Cline Shale formations, while the other will handle grain unit trains for feed distributor Cape & Son.
2013 U.S. ag exports set $140.9 billion record "U.S. agricultural exports from 2009-2013 increased by a total of more than $230 billion - and the average volume of bulk commodities exported increased by nearly 4 million tons per year," Agriculture Secretary Tom Vilsack said.
Lengthy ILWU contract talks possible, port official warns Ken Uriu, marketing manager at the Port of Long Beach, said ports are eager to avoid an impasse such as that experienced in 2002, when a 10-day lockout of ILWU members shut down container terminals along the West Coast.
Cargill looking at LNG to power ships The global commodities shipper said it's working with the classification society DNV GL, Royal Dutch Shell and international advisory firm Xyntéo to "evaluate possible ways to use LNG for dry bulk and tanker vessels."
Below average demand in Fujairah Prices softening in Suez.
North European bunker prices register little change Avails for low sulphur product tight in Rotterdam.
ExxonMobil offers advice on VGP Current VGP runs out on December 19.
Major charterer to examine business case for LNG bunkers Cargill joins major players to assess commercial prospects for alternative bunker fuel.
Biofuel projects a 'house of cards' Price forecasts used by US military 'wildly optimistic'.
Platts welcomes results of independent review 'We are pleased our methodology and procedures provide assurance that PRA principles have been achieved.'
Asian IFO prices start week stronger Tight barging reported in Singapore.
Aegean starts supplies at Spanish port Bunker tanker Sara deployed for round-the-clock operations.
Indian port to grow bunker facitilities The government signed the concession agreements on Saturday.
JV orders modern parcel tanker Vessel will have 'most advanced eco-ship design', says NYK Stolt Tankers.
Box newbuilds install waste heat recovery systems System converts up to 4% of lost energy from fuel into electricity.
CSC Phoenix vessels sold As part of request from creditor bank to repay loans.
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