Seaspan confirms order for five 14,000 teu boxships Vessels to be chartered to Yang Ming on a minimum time charter term of six years
Nanjing Tanker moves closer to delisting as first-half losses widen Firm wrestles with high costs despite improved revenues
DVB ditches 'shipping, shipping, shipping' focus Driese says private equity is the way forward
Business as usual Latest shipping casualties show why we must take safety seriously
K-sure offers bond insurance for South Korea newbuildings Shipping first could see debut deal involve European banks
A united CKYH and G6 would be no match for P3 on Asia-Europe trade Merging the two alliances could not rival Big Three's economies of scale, say analysts
ER Group pulls out of Ahrenkiel sales talks German owner remains up for grabs as HSH Nordbank presses it to sell
Reed Smith ready to take on the world London firm is both big league corporate lawyer and shipping specialist, says Nick Shaw
No chemtanker recovery till 2015, says Stolt-Nielsen Developed economies to drive market improvements
Eitzen Chemical foresees supply and demand balancing out Tanker owner reports $13.7m second-quarter operating loss
Unfazed by competition Reed Smith can compete 'very effectively' with the likes of White & Case to appeal to banks
Toll reports drop in ocean-freight volumes Australian forwarder says carriers are going directly to shippers
MOL and NYK face class actions in Canada Japanese giants accused of vehicle transport market price-fixing
Odfjell buoyant on chemical tanker recovery Quarterly results best in five years
KDB loan shores up STX Pan Ocean charter deals Backing will help troubled South Korean carrier to hold on to Vale and Kepco deals
ILO stands by labour convention's shipowner definition One entity can shoulder responsibility as another carries out certain duties, says founding organisation
Nanjing Tanker nearing delisting NANJING Tanker today predicted it would post losses for the first three quarters of 2013, a step further toward the prospect of being delisted from the Shanghai Stock Exchange
DSF books sharp rise in impairment charges DANISH Ship Finance (DSF), the Copenhagen-based shipping bank, has booked a sharp rise in impairment charges in 1H13, mainly due to respite granted to a small number of borrowers, while interim profit fell by almost half
Cutting fuel consumption good for HMM HYUNDAI Merchant Marine's container shipping business should at least break even for 3Q13 due to the peak season and the company's efforts at slashing fuel costs, a sector analyst said
Odfjell cuts loss and forecasts improvement ODFJELL, the Bergen-based chemical carrier and tank terminals group cut interim losses on better-than-expected performance of its shipping unit, but long running problems at Rotterdam continued to hurt the group's tank terminal business
Golden Ocean cancels orders and reinstates dividend GOLDEN Ocean Group (GOGL), the listed bulk shipping company in John Fredriksen's business empire, has reported a rise in interim profits, further cancellations of newbuilding contracts, and a reinstatement of dividends
Maybulk profits rockets 1,385% MALAYSIAN Bulk Carriers said net profits for 2Q13 rocketed 1,385% year on year to 13.1M ringgit ($4M)
LNG cargo supply growth below expectations EXPECTATIONS of high LNG shipping rates have been tempered by LNG production problems that are curbing an increase in traded volumes
Chinese cargo ship capsized off Fujian A CHINA-flagged general cargo vessel capsized off the country's Fujian province yesterday amid typhoon Trami, leaving six crew members missing
Captain of Rabaul Queen charged THE CAPTAIN of the Rabaul Queen which sank off the Papua New Guinea coast on 2 February 2012, killing more than 162 people was charged with manslaughter today
South Korea encourages LPG usage in autogas SOUTH Korea has moved to encourage the usage of LPG as an autogas
China approves Shanghai free trade zone CHINA'S State Council has approved an "experimental" free trade zone in Shanghai, according to a Ministry of Commerce statement on Thursday
LR1s, LR2s, bounce back to life LR1 and LR2 tankers are enjoying a long-awaited recovery in freight rates, as cross-Arabian Gulf voyages have tightened the availability for AG-Far East naphtha shipping
CANSI: new orders soar, output down CHINA'S newbuilding orders rocketed by 155.7% year on year to 29.76M dwt in the first seven months of 2013, according to China Association of the National Shipbuilding Industry (CANSI)'s report released on Thursday
Cash showdown to decide TMT fate A bankruptcy court showdown on 28 August is likely to determine TMT's ability to remain a functional operation, as the company remains severely starved of cash
Consumer Products Exports Expected to Underpin Growth of South Korea's Economy Strong consumer product exports will support GDP growth in South Korea in the coming months and years even though overseas demand for capital goods will wane, and major markets such as China will suffer slower growth, according to one analyst. Young Sun Kwon, an economist with Nomura, said improved demand from...
Study Details Benefits of Deepening the Mississippi River Sen. Vitter (above) said deepening the Mississippi River will help the U.S. meet current and future transportation needs.U.S. Sen. David Vitter, R-La., the ranking member of the Committee on Environment and Public Works, along with industry and Louisiana transportation officials, have released a new economic impact report detailing the benefits...
Qualcomm Sells Trucking Telematics Business for $800 Million Wireless communications giant Qualcomm is selling its Omnitracs trucking communications and telematics business for $800 million to Vista Equity Partners, a U.S.-based private equity firm. The sale marks the exit of Qualcomm from the business that first got it rolling in the 1980s - connecting truck drivers on the road...
Peel Ports to Upgrade Port of Liverpool Infrastructure Farrans Construction will upgrade Gladstone Lock and adjacent container terminal quayside infrastructure at the Port of Liverpool.Peel Ports has appointed Farrans Construction to upgrade Gladstone Lock and adjacent container terminal quayside infrastructure at the Port of Liverpool, in order to increase efficiency for the transit of vessels within Seaforth Dock...
8,508-TEU Ever Living Christened in Taiwan Evergreen Line's new Ever Living is the largest container ship built by China Shipbuilding Corporation.The naming ceremony for Evergreen Group's first L-type container ship, the Ever Living, was held at China Shipbuilding Corporation's Kaohsiung shipyard in Taiwan today. S.S. Lin, first vice group chairman of Evergreen Group, officiated at the ceremony....
Port of Seattle's Container Volume Fell 16 Percent in July The Port of Seattle reported container volume dropped 16.0 percent year-over-year in July to 134,864 20-foot-equivalent units, and plummeted 21.2 percent in the first seven months of 2013 to 925,284 TEUs. Total international container volume decreased 21.3 percent in July, compared with July 2012. It also fell 25.8 percent from January...
Shippers Must Rethink Modal Choices, Transport Analyst Says Shippers face "significant" rate increases in the U.S. over the next few years unless they build more multimodal supply chains for domestic and inbound shipments, an investment analyst warns. Although he expects U.S. economic expansion to remain slow, restraining the rate of growth in freight demand, rising operating costs and regulatory...
Port of San Diego to Host Export Training Event for Small Businesses Small business owners in San Diego that are considering exporting will learn about trade resources to help them access foreign market opportunities at a special training session Wednesday, August 21, 2013. While the event is fully booked and not open to the public, the Port of San Diego is offering a...
ILA Reports Progress in Virginia, Baltimore Talks The International Longshoremen's Association reports progress on ILA local agreements in Virginia and Baltimore that remain unsettled four months after ratification of a coastwide master contract for East and Gulf Coast ports. After separate meetings this week in Norfolk and Baltimore, negotiators in both ports are working out final details on...
NYSA, ILA Prepare to Expand Work Force The New York Shipping Association and International Longshoremen's Association have begun referrals for pre-clearance of candidates for New York-New Jersey dockworker jobs that will open up during the next few months. NYSA President John Nardi said the referrals are for replacement of about 300 dockworkers who have applied for early retirement...
Port of Felixstowe Hits TEU Milestone Port of Felixstowe handles its 70 millionth TEU.The Port of Felixstowe has reached a milestone, handling its 70 millionth 20-foot-equivalent unit since container operations began at the England port in the mid-1960s. The landmark container was loaded aboard the 13,800-TEU MSC Bettina by Patrick McLoughlin, the U.K.'s secretary of state for...
Moundreas tied to buy NG Moundreas of Greece has been linked to the acquisition of a capesize bulker controlled by Hong Kong operator Tai Chong Cheang Steamship (TCC).
Hope on the horizon If you're among the many industry observers who expect pain to persist in the panamax segment in the months ahead you may want to think again.
Place your bets A growing number of equity analysts are expecting to see a rebound in the capesize bulker segment in the coming quarters.
Masters suspended The masters of a bulker and a ferry involved in a fatal collision in the Philippines this week have been suspended on the same day that it was announced the death toll has risen to 78.
Ahrenkiel seeks partner German owner Christian F. Ahrenkiel is on the hunt for a new investor to help it navigate the industry downturn.
Seaspan seals the deal Seaspan has firmed an order for five 14,000-teu boxships at CSBC of Taiwan after signing off on charter deals with Yang Ming Marine.
Dyrbye in shock split Hansa Heavy Lift (HHL) has parted company with chief executive Tomas Dyrbye only a year after he took on the top job.
Full marks for good work We take a look at what was said in the market over the past week.
Flex lessens losses Flex LNG has managed to chop its second quarter deficit after cutting costs.
Geden close to bank deal Turkish owner Geden is nearing the finish line in its efforts to strike a restructuring deal with its army of banks.
RABT offloads shortsea Loss making Rederi AB TransAtlantic (RABT) has taken the next step in its restructuring by outsourcing its shortsea bulk business in a move that will see the loss of a further 20 jobs.
Noren to exit Concordia Hans Noren will vacate the president's seat at Concordia Maritime at the end of this year, the owner has announced.
Ross in dry strike King of bankruptcy buys into a third shipping company with his debut dry-cargo deal.
Eitzen Chem in deeper deficit Eitzen Chemical is showing further signs of recovery despite falling to a deeper loss in the second quarter of the year.
Odfjell getting better Odfjell just failed to return to profit in the second quarter as markets and its fleet utilisation improved.
Bank plots giant sale Commerzbank is taking another stride in its walk away from shipping with a plan to dispose of 14 tankers.
Golden cancels trio Golden Ocean has chopped three of its four newbuildings at Jinhai Heavy Industries in the latest round of cancellations by John Fredriksen-linked companies at the shipyard.
Nam Cheong eyes $115m Nam Cheong has launched a five-year bond issue which it hopes will put some SGD 90 ($115m) in its coffers.
Capes face Oz charge Capesize owners face higher costs from next month to use the world's largest iron ore export facility - Australia's Port Hedland.
China demand to surge China is on track to spend $500bn a year on crude imports by 2020 according to a bullish report from Wood Mackenzie.
Bumi Armada eyes bonds Bumi Armada, the Malaysian FPSO specialist, is looking to raise fresh capital to fund the next stage of its expansion.
Frangou sees open window Angeliki Frangou does not appear to have abandoned plans to spin-off Navios South American Logistics (Navios Logistics) of Uruguay.
Study: Deepening Mississippi River could increase exports
Houston port seeks $300 million
enVista partners with inventory-planning software provider
S.C. port authority reports TEU growth, operating profit Container volumes at the Port of Charleston grew 3 percent in July to 136,159 TEUs, the port's strongest July result since 2008 and a 20-percent increase from July 2011. Year to date, the port has handled 925,075 TEUs.
American, US request date for anti-trust trial The Department of Justice had requested that the trial start in 180 days. Carrier officials said that time frame is much too long since American is still facing bankruptcy proceedings.
Officials propose tobacco regulation in TPP
Last-mile courier thefts increase Thieves hit a last-mile courier van carrying pharmaceuticals in Modesto, Calif., Thursday. Nearly 30 similar thefts have occurred in the U.S. so far this year. In 2012, 12 last-mile courier thefts occurred around the nation.
Weekly global market report A weekly price round up from bunkering hubs around the world.
Fuel prices remain stable in the Americas Demand was said to be average on Friday in Houston.
NuStar Energy announces fuel marketing agreement Agreement enables NuStar to create 'back-to-back' trading model.
Philippines oil spill continues to spread Ferry was carrying 120,000 litres of bunker fuel, 20,000 litres of lube oil and 20,000 litres of diesel oil.
Dan-Bunkering hires new finance manager Firm's Dubai location also welcomes new accountant/sales supporter.
Signs of recovery in chemical tanker market Results from two Norwegian-based specialist tanker operators show evidence of a recovery, despite continuing losses.
Good demand in Fujairah South African markets firming.
Prices soften in Mediterranean bunker hubs Little movement in Rotterdam averages.
Refinery fire forces partial closure Fire in a cooling tower leaves one dead.
Fresh attempt to sell arrested bunker tanker Reports say it will be the fourth attempt to find a buyer for Onsys Aries.
Vessel held over bunker bill dispute is freed Lawyers say out-of-court settlement has been reached.
US firm hopeful of cracking low-cost HFO desulphurisation Company says method is already proven for distillates; processing units could be set up almost anywhere.
Asian bunker prices close week with little change Players in Hong Kong noted good demand.
OPL bunkering at Kochi possible via RSVs during monsoon Move effectively reduces the cost of bunkering at Kochi, says report.
DFDS takes 'major step' to prepare for 2015 Eight more ships to be fitted in 2014, and scrubbers for 10 more vessels under consideration.
Vopak profit down H1 2013 Firm recorded net profit of EUR 162.3 million during H1 2013.
Athens-listed ferry operator remains in the red But lower fuel costs help narrow losses.
O.W. Bunker 'strengthens physical division with promotion' Appoints Soren Christian Meyer as vice president of physical division.
Upgraded Lukoil bunker tanker resumes operations The upgraded Bunkerovshchik-5 is now MARPOL-compliant.
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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