Golar LNG Partners sees profits inch up Vessel addition boosts bottom line
New service for Bristol Cobelfret to call with container service
Golar LNG slides to $13m loss as vessels are laid up Company focuses on its newbuildings and floating production
Rates spike will curb tanker scrapping VLCC owners lured by attractive spot market, says Frontline's Jensen
Ship Finance International reports a sharp fall in third-quarter net income Tanker firm says it has tackled debt maturities and refinanced secured and unsecured debt
Kristian Siem launches offer for Veripos Siem raises offer to make it more attractive
UK ports and government vow to defeat EU ports directive Industry success reflects lack of interference, say business leaders
New Excel bankruptcy plan pledges ownership shake-up Panayotides has lost unilateral control of Excel Maritime
Livanos and CSAV clash over joint venture guarantees Long-standing partners in bulker operation go to arbitration
Adani seeks 'strategic entry' into Europe with Zeebrugge alliance Indian ports aim to be preferred destinations in trade with Europe
Boskalis orders $230m dredger Delivery from IHC Merwede scheduled for 2016
STX Pan Ocean orders two capesizes for Kepco coal charter Hanjin Heavy Industries & Construction wins $98m contract
Brussels lifts Georgia seafarers ban Member states have option to recognise qualifications
Frontline takes a second consecutive fleet writedown Tanker giant posts impairment loss of $22m and a third-quarter net loss of $36m
Dorian LPG expands its fleet Two VLGC newbuilding options exercised
Yang Ming plans $47m dry box sale Taiwanese carrier seeks to boost working capital after posting heavy losses
InterLink Maritime books another 10 handysize bulkers Expanding Carlyle-backed owner returns to Taizhou Kouan Shipbuilding
Dutch arrest ruling favours mortgage banks 1952 convention held to apply irrespective of flag or owner
Japan Club is third IG club to seek a 7.5% general increase All but one of P&I mutuals have now revealed February 20 plans
Guinea signs $5Bn UAE deal GUINEA has signed a $5Bn agreement with Dubai Aluminium Co (DUBAL) and Abu Dhabi's government-owned investment fund Mubadala to secure raw materials for the UAE
SHI wins $421.6M order SAMSUNG HI said today it has clinched a 447.6Bn won ($421.6M) order for five boxships
CSAV slips to losses CSAV of Chile said it had swung to a loss of $46.7M for 3Q13
US dockers balk at P3 Network DOCKERS in the US have warned that the P3 Network box carrier alliance could eliminate waterfront jobs
SFI's profits shrink SHIP FINANCE International said today it had "significant capital" still available for new accretive investments, even as it prepares for the arrival of several new vessels in 2014
Indonesia and Australia near settlement INDONESIA and Australia have agreed terms that could end their dispute over migrant smuggling
Excel files revised Chapter 11 plan EXCEL Maritime has filed a revamped Chapter 11 reorganisation plan, which it says is supported by all creditor classes
Long Beach Fills One Board Seat LONG BEACH, Calif. - Lori Ann Farrell, former controller and chief financial officer for the city of Long Beach, was appointed to the Port of Long Beach Harbor Commission to replace Nick Sramek, who resigned last week. Lori Ann Farrell. Long Beach Mayor Bob Foster said Farrell is the "ideal candidate who...
Trucker Protests Fail to Disrupt Oakland Operations Protesting truckers briefly interfered with cargo-handling operations at the Port of Oakland on Wednesday, but longshoremen crossed the picket lines and truckers that wanted to work went into and out of Oakland International Container Terminal without incident. "It was a non-event," said Ed DeNike, chief operating officer of SSA Marine, which...
Drewry's Eastbound Trans-Pacific Rate Erodes Post-GRI Drewry Container Rate Benchmark, Nov 27, 2013 Full-size image The Drewry benchmark rate for shipping from Hong Kong to Los Angeles dropped 5.0 percent or $100 per 40-foot-equivalent unit in the week of Nov. 27 to $1,886, a sign that a Transpacific Stabilization Agreement-recommended general rate increase was, again, unsustainable. This decrease...
Bermuda Container Line to Shift US Call to Philadelphia Port of PhiladelphiaBermuda Container Line will shift its U.S. port call from Elizabeth, N.J., to Philadelphia in the first quarter of 2014, The Royal Gazette reports. The carrier operates a single ship, the Oleander, with capacity of 360 20-foot-equivalent units and 44 vehicles, between the U.S. and Bermuda. The service has...
Crowley Orders Two LNG-Powered Ships Crowley has ordered two LNG-powered ships that will each carry up to 2,400 20-foot-equivalent units of containers and nearly 400 vehicles to replace triple-deck towed barges in the carrier's U.S. mainland-Puerto Rico service. The ships are scheduled for delivery in the second and fourth quarter of 2017. They will replace triple-deck...
Royal Mail's Profit Surged in First Half Royal Mail reported its operating profit almost doubled in the first half of the year, driven by higher revenue at its parcels division, as the 497-year-old postal operator celebrated its maiden results as a private company. Profit surged to £283 million (about US$461 million] in the six months through Sept. 29,...
Inland Waterways Woes Threaten Growth in US Exports Through Gulf Midwest grain and soybean exporters who ship by barge down the inland waterways system will gain an advantage over global competitors at the end of 2015. That's when the Panama Canal's big new locks open to commercial traffic, allowing larger ships to carry more product from the U.S. Gulf to...
Japan's New Anti-Piracy Law Set to Take Effect Japan's new anti-piracy law will take effect on Saturday, 17 days after it was enacted by the Diet, the nation's parliament, the transport ministry announced this week. The new law will allow private armed guards to board Japanese-registered oil tankers and other cargo ships in waters off Somalia and elsewhere. Under the...
TPM Asia 2014 Our 2013 TPM Asia Conference attracted 550 notable shippers, carriers, 3PLs and government officials. Returning to Shenzhen again in 2014, this event promises to be a must attend, highlighting the latest predictions for the container shipping industry, best practices, economic forecasts and trends in China...
Holt Logistics Statement on Impact of PA Trans Bill for Port of Philadelphia PHILADELPHIA (November 25, 2013)- Holt Logistics Corp today released a statement on the impact of the PA transportation funding bill on the Port of Philadelphia and related industries. Representatives from Holt Logistics Corp attended a ceremonial signing event with Pennsylvania Governor Tom Corbett in King of Prussia where details were presented...
Danish delegation led by Minister for Trade and Economic Affairs, Denmark visits APM Terminals CFS facility in Dadri Mumbai, November 26, 2013: Mr. Nick Haekkerup, Minister for Trade and Economic Affairs, Denmark and Mr Freddie Svane, Denmark's Ambassador to India, along with an eight member delegation, visited the Dadri facility of APM Terminals India Pvt. Ltd recently. The visit provided the delegation an opportunity to tour the APM...
Oakland Truckers Urged to Call Off Strike Port of OaklandThe Port of Oakland and the California Trucking Association are urging independent truck drivers not to carry through with a yet another strike in the harbor that is planned for Nov. 27. Owner-operator truck drivers today distributed flyers asking all truckers to support the strike, which is being called...
Gimi headed for sidelines Golar LNG has decided to put a 37-year-old LNG carrier into layup to wait for a potential conversion.
Fredriksen not in for VLCCs Jens Martin Jensen today all but killed off the growing rumours that John Fredriksen is ready to join the clamour for VLCC newbuildings.
Golar continues finance drive Golar LNG Ltd is closing in on a sale-and-leaseback deal with ICBC Financial Leasing to fund four newbuildings.
Maersk deal inches closer General Maritime has secured a new $200m equity infusion while taking further steps towards a $1bn acquisition of the 15-unit Maersk Tankers VLCC fleet, sources said today.
Diana's deja vu A charter dispute over a capesize vessel has returned to haunt Diana Shipping after two years.
Spat erupts in dry JV Compania Sud Americana de Vapores (CSAV) and Peter Livanos-controlled DryLog are trading blows over their dry-bulk joint venture.
Latvian rubs out some red Latvian Shipping Company (LSC) has cut its loss in the first nine months as it turned a profit in the third quarter.
Golar Partners edges up The addition of an LNG carrier from its parent has seen Golar LNG Partners increase its earnings in the third quarter.
SALT shoots higher Scorpio Bulkers is to take its fundraising to $1bn after setting out further details for its initial public offering.
Japanese get green light A consortium of Japanese shipbuilders led by Mitsubishi Heavy Industries (MHI) has been given the go ahead to invest in a Brazilian yard.
SFL seeks new deals John Fredriksen's Ship Finance International is seeking period deals for two suezmax tankers after their charters with North China Shipping Holdings fell through.
DNB predicts price jump Products tanker newbuilding prices are set to spike by more than one fifth over the next year with second hand vessels experiencing even loftier rises, DNB Markets says.
Vietnam eyes tax cut Vietnam is considering new methods to boost the domestic industry, including tax cuts.
Boskalis digs deep Dutch owner Boskalis is spending EUR 170m ($231.15m) on a new dredger in the Netherlands.
False start for VLs? Owners firing the starting pistol on the race for VLCC newbuildings may have gone too soon, a leading broker says.
Coastal up on sales Malaysia's Coastal Contracts booked a big rise in third quarter earnings after selling more vessels.
PDZ pushes up profit Malaysian liner group PDZ Holdings has benefited from a smaller fleet and lower operating costs in the first quarter of its financial year.
Excel forges debt deal Excel Maritime Carriers has struck a deal with creditors that will slash debt by $620m and put the company on a path toward a February exit from bankruptcy.
SNCM crew in clear Human error has been ruled out as a cause of the partial submerging of a French ferry that broke its moorings last year.
MBC profit chopped Malaysian Bulk Carriers (MBC) has seen earnings cut in the third quarter, but the figures would have been worse without a contribution from a sister offshore company.
STX PO in shock return STX Pan Ocean has made a surprise return to the capesize newbuilding arena.
Two more bodies found The death toll from two capsizings off China has risen to 12.
Hanjin gets backing A major shareholder in Hanjin Shipping is prepared to pump more funds into the ailing Korean shipowner.
Frontline cool on rally John Fredriksen's Frontline delivered a sobering assessment of the VLCC spot market rally as it posted a smaller than forecast third quarter loss today.
Murmansk unwanted An auction of Russia's stake in Murmansk Shipping Company has been scrapped after no buyers emerged.
Messina heads north Italy's Ignazio Messina is launching a new liner service from West Africa to northern Europe.
CSC Phoenix told to pay Troubled bulker owner CSC Phoenix has been ordered to hand over CNY 86m ($14m) to a Sinopec bunker company.
Dorian takes two more Dorian LPG has exercised options for two more VLGC newbuildings at a shipyard in South Korea.
DHT names investors Hedge funds familiar with the shipping sector have emerged as key participants in DHT Holding's recently announced private placement.
GOGL takes GREE stake John Fredriksen's Golden Ocean has taken a small stake in rival Greenship Bulk Trust.
Qingdao back in action China's Qindao Port is returning to normal following last week's pipeline explosion, reports Inchcape Shipping Services (ISS).
Zhao stands down Zhao Huxiang is stepping down as chairman of Hong Kong-based Sinotrans Shipping, the company has confirmed.
Drivers protest at Port of Oakland The Port of Oakland Truckers Association said that as many as 800 drivers may not be able to work at the port after Jan. 1 because of California clean air regulations that will require trucks to have 2008 or newer engines.
Bankruptcy judge approves American, DOJ settlement The ruling by the U.S. Bankruptcy Court for the Southern District of New York means the carriers can go ahead and merge despite the presence of a private antitrust lawsuit. Carrier officials have said the merger will be implemented Dec. 9.
Green Express reefer train remains on ice
CSX train derails in Ohio
Bermuda carrier relocating to Philadelphia
DHL renews contract with CSafe Global
LATAM Airlines Group sees modest growth in 2014
Mesher to step down as Descartes CEO and chairman Mesher, who has led Descartes through a financial renaissance since taking charge in 2004, is leaving due to "health and personal issues," the company said. He will be replaced by Ed Ryan, the company's current chief operating officer.
Trucking industry embarks on mission to alter image
Miami to receive first shipment of Peruvian grapes
EU ag trade promotion dusts up U.S. meat producers A proposal announced earlier this week by the European Commission to triple the continent's spending to promote exports of EU agricultural and agri-food products has U.S. producers requesting that Congress respond in kind.
Ex-Im Bank supports Costa Rica wind farm exports
Texas shipper to pay $100 million for U.S. export violations
WTO chief says multilateral agreements not yet there
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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