Is the marine security bubble about to burst? The demise of GoAGT brings fears of other private firms going bust
Quiet week for capesizes Lack of activity leaves Baltic index at a low
Ballast water rules exemption aid available Online risk assessment tool helps owners to gain exemption from installing costly environmental technology
Box line reliability still lags behind 2013 levels But shipping lines have managed slightly to improve on-time performance compared with May
DP World backs box weighing at ports Terminals ready to help shippers comply with new rules, says Europe and Russia region MD Ganesh Raj
Attica lines up €50m debt issue New XRTC study praises lenders for restraint during lean years for Greek ferry firms
Salvors' revenues up International Salvage Union says interest in LOF on the rise
August GRIs push up rates on all major trades Asia-Europe price climbs to highest since February, rates on Asia-US east coast trade highest since launch of SCFI
Cosco Corp profit down 19% in second quarter Shipbuilding unit of Chinese giant enhances competitiveness in offshore sector
Data Hub: Trade Statistics - Europe Double-digit growth increase in deepsea import volumes during first quarter of the year
Volatile suezmax earnings better than low, flat and dull 1m barrel tankers relish the highs after the lows
Freeport LNG receives FERC approval Now US export project must obtain licence from energy officials
Crisis in Valencia Like most of Spain's ports, Valencia is plagued by over-capacity and declining volumes as carriers switch to cheaper alternatives in other parts of the Mediterranean
Container weight verification - pragmatism wins the day, says shippers' leader Measures will enhance maritime safety while introducing improvements in supply chain processes and standards
Week on Wall Street | August 1 'Dead quiet' results season leaves investors bemused
Reederei NSB orders up to nine 5,000 teu boxships Deal done with Sainty Marine at $70m apiece
Exmar hails VLGC freight market upturn Gas carrying company expects master limited partnership to be listed in US this year
Are complex onboard systems too clever now? More and more sophisticated solutions are being installed on ships, but it still comes down to people
Matson books profit amid higher competition Containership operator sees muted growth in China for second half
Mombasa cargo handling up 9% The Kenyan port of Mombasa has reported significant improvements in throughput and ship turnaround times. Cargo volumes so far this year have risen by 9%, while the port's notoriously slow turnaround times have fallen from 5.8 days in 2013 to 3.8 days now. Mombasa's MD, Gichiri Ndua, said the port
Dredging fleet sails to Sabetta DEME Group flagship cutter suction dredger d'Artagnan has led a fleet of 19 dredging vessels from Russia's Port of Murmansk to the Port of Sabetta to help build the Yamal LNG project. One of the largest industrial undertakings in the Russian Arctic, the project involves drilling more than 200 wells,
Exmar benefits from LPG vessel sales Belgian gas carrier operator Exmar saw first half consolidated net profits of $51.7M with the help of $24.5M from the sale of older LPG tonnage. This compares with a $90.2M profit in the first half last year but this had been boosted by the $54.2M proceeds of the sale of a 50% stake in Exmar LPG to
Sinopacific bags AHTS orders from Vallianz Sinopacific Shipbuilding Group of China has won a contract from Singaporean company Vallianz Holdings for four anchor handling tug supply (AHTS) vessels. The SPA60 AHTS vessels will be built at Sinopacific's Zhejiang Shipyard and all are expected to be delivered by the beginning of 2015. SPA60s have
Most shipping carriers face half-year losses Most shipping carriers are likely to post losses in 1H14 with the exception of few Chinese companies, according to two analysts from UOB Kay Hian. Angela Zhou and Lawrence Li suggested the reasons for shipping companies' low earnings were the weak Baltic Dry Index and container freight rates in the
Greece helps Chinese flee Libya Eighty Chinese nationals were among those evacuated from war-torn Libya by Greek navy frigate Salamis, according to Chinese news agency Xinhua. The Greek government had been asked by China and other countries to assist their citizens to leave the northern African country as clashes between militias
China tops shipbuilding sector in 2013 China topped the shipbuilding sector in 2013, pushing South Korea to second place. China's new ship orders, output and orderbook in 2013 surpassed South Korea's, according to a Korea Institute of Industrial Technology report. China had 35%, 30.7%, and 33.5% of the world's newbuilding orders, output,
RSHI predicts much wider losses in 1H14 Rongsheng Heavy Industries Group Holdings (RSHI) is predicted to post substantial rise in losses for the first six months in 2014 from a year ago, due to sharp falls in output and orders. Based on the unaudited consolidated management accounts of the company and its subsidiaries for the six months
RSHI subsidiary's assets frozen by court Jiangsu Rongsheng HI, a key subsidiary of China Rongsheng HI Group Holdings (RSHI), has had its assets worth CNY16 million (USD3 million) seized and frozen by a court over disputes with a Chinese marine materials and spare parts supplier. The Wuhan Maritime Court approved Nantong Yanjiang Pipe
Singapore MPA still firm on MFM requirement The Maritime and Port Authority of Singapore (MPA) has reiterated that all new bunker tankers applying for a bunker tanker license must be fitted with an approved mass flow meter (MFM) for delivery of marine fuel oil (MFO) by 31 December, while existing bunker tankers operating in Singapore have
Sainty Marine wins box ship orders Sainty Marine has won a new order from German shipowner Reederei NSB for four 5,000 teu dual-fuel container ships with options for another five. The newbuilds will cost about USD70 million each, with delivery scheduled from 2017 to 2018, a stock filing of the company said today. The construction of
YRC Worldwide cuts losses, but struggles with surging freight At times, there can be such a thing as too much freight. When total shipments per day at YRC Freight rose 4.8 percent in the second quarter, and freight tonnage was up 5.9 percent year-over-year, the increase meant more hiring, more handling and higher operating costs. "The volume of business caused...
SeaIntel: G6 struggles in schedule reliability The G6 Alliance is performing abysmally compared with its competitors when it comes to schedule reliability, according to a new SeaIntel report. Schedule reliability of G6 Alliance carriers generally improved from May to June. Full-size chart The carriers of the G6 Alliance - APL, Hapag-Lloyd, Hyundai Merchant Marine, MOL, NYK Line and OOCL...
Myanmar health care spending lifts logistics market Consumer spending on over-the-counter health care products in Myanmar is anticipated to grow from around $140 million in 2013 to $480 million by 2020, providing a huge and growing market for distributors and logistics providers. The medical devices market in Myanmar is anticipated to grow threefold by 2020, and eight out...
Yusen Logistics narrows loss Major Japanese international freight forwarder Yusen Logistics Co. said that it incurred a group net loss of ¥518 million ($5.03 million) in the first quarter of fiscal 2014, which started on April 1. But the group net loss narrowed from ¥592 million in the same three-month period last year, Yusen Logistics...
US trucking employment rises, but gains slow from June The JOC For-Hire Trucking Employment Index climbed 0.2 percentage points to 97.4 last month. Full-size chart The JOC For-Hire Trucking Employment Index rose for the fifth straight month in July, driven by steady improvement in the U.S. economy, stronger industrial output and freight demand. Based on preliminary employment data, the index climbed 0.2...
US, China spar over WTO poultry rulings Despite a loss at the World Trade Organization last fall, China isn't prepared to give in on a dispute over U.S. poultry that has exposed U.S. producers to steep anti-dumping and countervailing duties in what was once their largest overseas market. The WTO ruled last September that China used an invalid...
Ocean carrier rate revision roundup for August 1 Several container lines announced this week general rate increases for the month of September. This year GRI announcements are coming once, if not twice, every month as carriers battle a volatile spot market. The general rate increases that went into effect today seem to have been marginally successful, although a trend...
Industry seeks answers on MOL Comfort sinking More than a year after the container ship MOL Comfort and its 4,382 containers sank in the Gulf of Aden, shippers are watching developments in a Japanese court and awaiting a classification society's report on the sinking. With nominal capacity of 8,110 20-foot-equivalent units, the MOL Comfort is the largest container...
Slideshow: Top stories of the first half of 2014 The first half of 2014 saw the start of several stories that JOC.com will most likely be covering for the next year and perhaps beyond. These industry-changing events hit all transportation modes, and are setting the stage for an interesting second half. While trucking faces a major capacity issue and driver...
Matson still interested in Alaska market Hawaii-focused Matson remains interested in entering the Alaska market if one of the two Jones Act carriers in that trade decides to sell, CEO Matt Cox told analysts after the company's second-quarter earnings report.
Matson posts profit, expects late-2014 gains Artist's rendition of one of Matson's planned Aloha Class vessels.Jones Act carrier Matson posed slight declines in second-quarter net profit and operating income but said it expects its operating results in the second half of 2014 to show improvement from a year ago. Matson said it walked away from low-margin business...
SCFI: Rates jump on major east-west lanes Spot rates to northern Europe jumped 20.9 percent this week. Full-size chart August general rate increases have given a boost to spot rates on all of the major lanes this week, as the Shanghai Containerized Freight Index showed pricing gains for carriers from Shanghai to both Europe and the United States. Spot rates...
WTO trade facilitation deal collapses on Indian protectionism The WTO's Trade Negotiations CommitteeIndia's refusal to give in on protecting its food subsidy program spelled the end of a World Trade Organization pact aimed at improving global trade facilitation. The Bali Package of reforms would have been the largest trade deal in the WTO's 19-year history by improving global standards...
Port productivity improves, 'but more needs to be done' Terminal operators are responding to the tsunami of large vessels that have descended upon ports around the world by dramatically increasing their productivity in turning the mega-ships, the 2013 JOC Group's Port Performance project has shown. But the gains that were realized in 2013 compared to port and terminal performance in...
US Congress passes 11th-hour highway funding patch WASHINGTON - U.S. federal dollars to states for highway construction will keep flowing through May now that Congress approved a bill just hours before the main engine of such funding would have expired. States on average would have seen their federal funding for highway, road and bridge construction begin decreasing by...
IAG cargo revenue slumps as carrier exits freighters IAG's cargo revenue slumped more than 12 percent in the second quarter as the carrier exited freighters. The owner of British Airways and Iberia booked freight sales of €238 million ($319 million) in the three months through June against '271 million in the same period in 2013 as volume shrank 5.2...
Rotterdam congestion forces Hapag-Lloyd to switch Asia-Europe loop to Antwerp ECT Delta terminalHapag-Lloyd announced it is temporarily diverting vessels deployed on one of its Europe-Asia services from Rotterdam to Antwerp as congestion worsens at Europe's biggest container port as the peak shipping season gathers speed. The German ocean carrier's move comes amid reports that rail services between Rotterdam and its European...
MarAd mints class deal The US Maritime Administration has renewed its alliance with a leading classification society.
Cape cargoes cometh Rates for capesize bulkers trading in the spot market struggled to gain momentum in the first-half of 2014 but many continue to believe the segment will rebound in the months ahead.
Economou doubles down A Greek shipping mogul's appetite for exposure to the spot market appears to be on the rise.
Bouchard inks ATB tugs Bouchard Transportation has penned an order for a pair of tugs under what appears to be a broader campaign to cash in on rising demand for Jones Act tonnage.
Classic deal for Lemos cape George Economou's Classic Maritime has tied up a CM Lemos-owned capesize bulker on a period contract.
Nobu Su trial date set But will enigmatic Taiwanese owner or any of his representatives show up for case being brought by Greek owner?
Pac Basin pins shortfall Pacific Basin Shipping says 40% of dry cargo newbuildings failed to arrive as planned in the first half of 2014.
Unavoidable but necessary We take a look at what was said in the market over the past week.
Yards lift Cosco Singapore Improved income from its shipyards has pushed up second quarter profit at Cosco Corp Singapore.
Settlement spur Seacor Marine has recorded a $14.7m gain in the second quarter following the settlement of a legal dispute with Caterpillar.
Door open for Dorian MLP Dorian LPG could join the line of shipowners looking to complete the listing of an MLP, a top analyst says.
LNG finance deal overturned A ruling that a ship leasing deal for two costly LNG carriers qualified for allowances under UK tax law has been overturned by a London appeal court.
Sales boost Exmar Exmar has delivered a strong second quarter to complete a first half which has seen the company benefit from asset sales.
Sainty share hits ceiling Investors have responded enthusiastically to a premium order at Sainty Marine.
BREAKING NEWS: PortMiami tunnel to open Sunday The tunnel is expected to shave 25 minutes from a port shuttle truck's round trip to the port, making it possible for drivers to add at least one more revenue-bearing trip to their 11-hour driving day.
WTO's trade facilitation efforts falling flat The TFA was part of a package of agreements approved at the WTO's meeting seven months ago in Bali, Indonesia. The agreement, focused on trade facilitation, was expected to reduce trade costs, especially for developing countries.
Europe funds TEN-T projects
Gabrielson leaving Target for Lowe's Longtime Target transportation executive Rick Gabrielson told American Shipper Thursday that he is taking a vice president role in transportation with the home improvement retailer Lowe's.
Matson Q2 profit lower, but revenue increases The company's ocean transportation business had revenue of $321.1 million in the second quarter of 2014, a 3.6-percent increase, year-over-year, but it had a 4.4-percent decrease in operating income over the same period.
OOCL opens Salt Lake City office
YRC Worldwide sees improvement during Q2 "For a company that almost failed several times in recent years, we view the Q2'14 performance as a step in the right direction," Thom Albrecht of BB&T Capital Markets said. "The stage is set for a return to profitability during 2H'14."
IAG Cargo has revenue decline in Q2
Executive moves Page International has promoted Patrick Page to president and chief operating officer, where he will be responsible for directing and leading all aspects of the company. Page has been with the company since 1998, most recently working as vice president. During his time at Page International, Page has gained import and export sales experience, facility with corporate management and administration, and an understanding of marketing.
Congress clears temporary fix for Highway Trust Fund
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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