Navios halts distressed-fleet buying as HSH Nordbank pact slows Owner posts a larger than expected loss due to low rates
LPG shipping raises $700m in new equity in a week Finance frenzy grips gas shipowners
STX Pan Ocean sells chemtanker for $12m Deal marks fresh sale in one of shipping's brightest segments
How will the return of the Iranian fleet affect the global tanker trades? Time lag restoring crude output will mean a limited short-term effect, says Poten
Offen owes banks nothing, says founder RCPO can continue to operate insolvent KG ships with debts of up to $4bn
Pakistani breakers lead demolition surge Prices could pick up in Gadani, says GMS
Ten dead and 16 missing after two ships sink off Shandong Rescue efforts continue after general cargoships sink in high winds
Eimskip's net profits slide as Iceland's krona loses value Dip comes despite improved liner service to Faroes, Norway and North America
VLCC newbuilding resale fetches $89m Prices rise for the 2m-barrel crude tankers
Nordic Shipholding confirms restructuring deal Former FSL man Clausius to take over from Andersen
Exmar to launch new entity to raise equity Exmar Energy Partners will tap the US Securities and Exchange Commission
Qatar bats off LNG challengers Capacity, reliability and stability put Doha ahead of the pack
Qingdao reopens oil terminals after fatal pipeline blasts Update: Fears of China tanker disruption fade as VLCC berths resume operations
NOL denies involvement in European Commission antitrust probe But Evergreen confirms it is under investigation
Tanker owners slam charterers' inconsistent vetting Differences in oil companies' crew demands present a particular problem
Saverex cuts Exmar stake NICHOLAS Saverys-controlled Saverex NV, lead shareholder in gas carrier operator Exmar, is to reduce its majority stake in the Belgian company, where Saverys is CEO
DHT builds war chest for expansion NYSE-listed tanker company DHT Holdings today revealed plans for a $110M private placement earmarked for fleet expansion
Navios Holdings loses $13M ANGELIKI Frangou's NYSE-listed Navios Maritime Holdings today reported 3Q13 net losses of $13.05M, or $0.13 per share, on lower revenues
Seadrill sees demand leading supply SEADRILL said today it expects demand to outstrip supply in its business up to 2020
Agency blasts NYSA lawsuit CONTAINER terminals at the Port of New York are being compromised by a lawsuit filed by their representative on their behalf, a waterfront agency contends
Indonesia hints safe passage for migrants INDONESIA'S national police chief today reportedly offered safe passage through its waters to migrants trying to get to Australian-controlled Christmas Island
Scomi swings to profits MALAYSIA'S shipowner Scomi Energy Services today reported profits 25M ringgit ($7.8M) for its quarter ended 30 September
Ballast deadline worry rises SHIPOWNERS are in the crossfire of a turf war between two US federal agencies over enforcement of upcoming ballast water rule deadlines, an owner representative told Fairplay
Chinese mariners sought in fatal sinkings SEARCHERS are looking today for dozens of seafarers missing since fatal groundings and sinkings in China
APT reverses itself again AMERICAN Petroleum Tankers Partners LP has reinstated its plan to float on the NYSE, a week after saying it had scuttled the move
Exmar plans LNG listing Belgian gas transport specialist Exmar has announced plans to float its long-term LNG business on the New York stock exchange
Private equity acquires Nordic Shipholding's debt NORDIC Shipholding, the debt-ridden Danish shipowner, has entered into a debt-for-equity swap with an Asian private equity fund
GDF Suez mulls GTT listing FRENCH energy group GDF Suez has confirmed it is considering a stock exchange listing of its LNG carrier cargo containment system subsidiary, Gaztransport & Technigaz (GTT), Reuters has reported
NY Waterfront Commission Defends Hiring Practices The Waterfront Commission of New York Harbor, which contends that International Longshoremen's Association referrals for dockworker jobs aren't diverse enough, disputed ILA complaints that the commission ignores diversity in its own hiring. Since the commission underwent a management shakeup five years ago, 11 percent of new hires have been black, 17.5...
Container Volume Slides at Seattle, Tacoma ontainers at the Port of Tacoma.Combined container volume at the ports of Seattle and Tacoma declined 9.9 percent in October from a year earlier, to 285,161 20-foot-equivalent units, extending a slide that began in February. Loaded international containers moving through the Washington port complex dropped 14.1 percent from October 2012, with...
Logistics Confidence Index Hits Record High The Stifel Nicolaus Logistics Confidence Index, a monthly survey of international shippers and forwarders in the Europe-based air and ocean freight trade lanes, climbed 2.5 points in November to a record high 57.1. Stifel Logistics Confidence Index: Total freight (air and ocean). Full-size image The index, developed by Stifel Nicolaus Transportation & Logistics...
Long Beach Board Loses Another Member The political climate surrounding the Port of Long Beach has claimed another victim, with Nick Sramek announcing his resignation from the Board of Harbor Commissioners. In a letter to Long Beach Mayor Bob Foster, Sramek said he has "great concerns about the port and its politically-charged dealings with the city. I...
ILA: NY Waterfront Commission Lacks Diversity The International Longshoremen's Association claims the Waterfront Commission of New York Harbor, which has criticized the low numbers of women and minorities in some ILA locals, lacks diversity within its own agency. "We'll match our diversity against the Waterfront Commission's any day of the week," ILA spokesman James McNamara said. The...
Manitoulin Buys Manitoba Trucker Smooth Freight Canadian trucking operator Manitoulin Transport continued its acquisition-based expansion, purchasing Smooth Freight of Brandon, Manitoba. The acquisition is part of a drive by Manitoulin and other carriers to extend their geographic reach by buying smaller trucking businesses. Smooth Freight provides less-than-truckload and truckload services to more than 300 rural communities in Manitoba...
Container Volume Soars at Georgia Ports One of GPA's new ship-to-shore cranes at the Port of Savannah's Garden City Terminal.The Georgia Ports Authority moved 274,362 20-foot-equivalent units in October, up 19 percent year-over-year and 5 percent month-over-month. In the first four months of fiscal 2014, the GPA moved 1.1 million TEUs, representing a 5 percent increase compared...
Diminishing Returns Just when you thought the news couldn't get worse for global container carriers that lost an estimated $650 million collectively in the first half of the year, it did. Beyond the deepening financial losses - the exception being Maersk Line's exceptional $554 million third quarter profit driven by deep cost-cutting -...
CBP Aims to Improve Cargo Clearance at Miami Customs and Border Protection is working to process transshipment cargo faster at the Port of Miami through a new pilot program aimed at helping the Florida port regain the business it has lost since the September 11 attacks. CBP is expediting the clearance of transshipment cargo much like it does for...
CEVA Logistics, Scania Team Up in Iberia CEVA Logistics has signed a three-year contract with Swedish automotive industry manufacturer Scania to manage the delivery of spare parts in Spain and Portugal. Under the contract, worth 3.5 million euros (about $2.6 million), CEVA will manage the distribution of Scania's spare parts to delivery points in Iberia within 24 hours...
YRC Worldwide's Next Challenge: Looming Debt Deadline A reorganization designed to reduce freight handling, speed shipments and save YRC Freight millions of dollars did just the opposite this summer. Instead, manpower shortages led to higher costs and delayed shipments, driving customers away from the long-haul less-than-truckload carrier and turning a third quarter 2012 operating profit into a...
Big Carriers Boost Market Share at Expense of Smaller Rivals The largest ocean carriers sharply increased their market share at the expense of their smaller rivals in the third quarter, according to Drewry Maritime Research. Maersk Line, the world's largest carrier, increased traffic year-over-year by 9.5 percent, more than double the global average growth of 4.2 percent, while third-ranked CMA CGM's...
Who Is Gil Kerlikowske? I had intended to write this column on my impressions of the 2013 Customs and Border Protection's Trade Symposium, an annual event that I haven't missed since its inception in 2001. In particular, I had wanted to use the gathering to gauge attendees' reception to President Obama's nomination of Gil...
Crowley inks con-ros VT Halter Marine of the US has secured a contract to construct the world's first LNG-powered ro-ro containerships (con-ros) for a leading operator of Jones Act tankers, tugs and barges.
Matson hikes freight rates Matson has unveiled rate hikes as the US liner operator aims to cover the impact of operating cost increases.
Coal cargoes cometh China's insatiable appetite for imported thermal coal has emerged as one of the key variables that are driving heightened demand for panamax and handymax bulkers as of late.
Navigator posts gain The acquisition of LPG carriers controlled by affiliates of Danish shipping giant AP Moller-Maersk appears to be paying off for Navigator Holdings.
KNOT on the up KNOT Offshore Partners posted a third-quarter profit Monday and told investors that it remains confident in its ability to cash in on rising demand for shuttle tankers.
Atlantska adds handy Croatia's Atlantska Plovidba has added an optional handysize to its order at Qingshan Shipyard in China.
Navios misses mark Navios Maritime Holdings has extended its 2013 red ink after slipping to a deeper than expected loss during the third quarter.
Saverys selling stock Nicolas Saverys is selling off shares in Exmar to help repay loans.
Demo deal done Norwegian Car Carriers (NOCC) has confirmed it is scrapping its 1996-built car carrier Vibeke a month after denying its sale.
Trio aground off Korea Rescue operations were underway after three cargoships grounded off Korea in storms.
d'Amico newbuild finds work d'Amico International Shipping has secured an $18m contract for one of its newbuildings.
Rem renews Fugro deal Norway's Rem Offshore has added three years to a supply ship charter to Fugro in Singapore.
Size war rages While Brussels investigates collusion between container lines a new report claims the battle for market share is trumping any survival instinct.
Sealink sells trio Malaysia's Sealink International will book a small gain from selling three ships to an overseas buyer.
Iranian fall-out 'positive' A nuclear deal between Iran and Western powers is likely to have a positive impact on the crude tanker market, leading analysts say.
26 crew feared dead Up to 26 seafarers are feared dead in two separate capsizings off China.
STX PO chief quits The CEO of restructuring Korean bulker owner STX Pan Ocean has resigned after five months in the job.
IPOs at six-year peak A stock market rally and encouraging signs of a recovery in the shipping markets have lifted IPO activity in the industry to a six-year high, Clarksons says.
Rem beats target Rem Offshore has revealed a strong response by shareholders to its buy-back offer.
Navios VL torched Navios Maritime Acquisition Corp has scrapped a VLCC which was previously thought to be destined for conversion, it is claimed.
Saverys hatches MLP plan Nicolas Saverys' Exmar has revealed plans to float part of its LNG shipping business in the US.
Xinle wins chemical quartet China's Ninbgo Xinle Shipbuilding has won a new order for up to four chemical carriers.
Iran's insurance boost? Iran's new nuclear deal with the west includes an easing of European insurance restrictions on its tanker fleet, according to a senior diplomat.
Offshore double sealed Edison Chouest Offshore (EC) and Island Offshore are teaming up to order new offshore construction vessels (OCVs).
VLCCs robbed off India Two VLCCs have reportedly been targeted by robbers while at anchor off the North West coast of India.
Teekay linked to order Teekay LNG Partners (TGP) is thought to be behind the latest LNG newbuilding order at DSME, which was announced last week.
Qingdao still closed One of China's largest crude oil import terminals remains out of action following a pipeline explosion on Friday.
DHT taps investors DHT Holdings has unveiled plans for a private placement to institutional investors worth around $110m.
Essar bulker released Singaporean authorities have released an Essar-owned post-panamax bulker arrested last week over an unpaid bunker bill.
Rockefeller: STB should rethink mission "The evidence is overwhelming at this point that the four dominant freight railroads are financially strong," he said. "It's time for the STB to re-focus its mission on supporting the businesses and people who use the rail network."
Customs brokers pleased with FDA rulemaking on foreign suppliers The Food and Drug Administration has defined importers as the party directly responsible for ordering food from overseas under its proposed Foreign Supplier Verification Program. Importers must verify that suppliers meet food-safety standards.
Lawmakers air concerns with American-US merger settlement
Regulations could strain truckload capacity
Stifel's 3Q 2013 Domestic Transportation Update
ILA, employers filed lawsuit against Waterfront Commission The lawsuit claims the commission, which was created in 1953 to fight corruption, "has gone off the rails to pursue a future role for itself that is well outside the purposes and goals that led to its creation."
CMA CGM sees performance decline in Q4
DOT advisory panel calls for HMT reform
Air France packs freighters with Beaujolais
Cost cutting remains container carriers' most important tool The investment banking firm Jefferies cautioned, however, that it thinks "most of the cost savings potential may have been exhausted, particularly after a steep cut in fuel consumption in 2013."
Prices start week soft Six vessels waiting to enter Gibraltar.
IFO prices soft, avails tight in Fujairah 380 cSt prices flat in suez.
Ferry operator says ship did 'fantastic job' in saving fuel DFDS names the Ro-Pax ferry Regina Seaways as the latest winner in its quarterly 'bunker savings' competition.
Fatal pipeline explosion halts bunker operations Supplies in eastern Chinese ports face disruption.
Bomin eyes Japanese market with new hire Kimihiko Miyazaki will be based in Hong Kong.
LNG ferry conversions on track Washington State Ferries awaits USCG approval for LNG conversion plans.
Bunker supplier to use GL ShipManager software 'At Monjasa, we want fast uncomplicated procedures.'
Russian upgrades could 'starve' Europe of fuel oil Russian refiners are engaged in a $55 billion overhaul, due to be complete by 2020.
Ferry company boss weighs up ECA options Fuel efficiency forms part of five-point plan to turnaround company's finances.
IFO prices show mixed movements Avails tight in Busan.
First German flagged LNG-fuelled newbuild ready by 2015 'Gratifying to see growing realisation of the potential of LNG technology', says DNV GL.
LNG new build to get increased efficiency Technologies to reduce power consumption by more than 20%.
Space-saving marine engine makes a sale Engines meet EPA Tier 4i and IMO Tier III emissions standards.
Italian shipbuilder backs fuel cell technology Units will be used as range extenders.
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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