GasLog doubling down on fleet NYSE-listed GasLog has unveiled its '40:17 Vision', a plan to grow its fleet from 25 LNG vessels to 40 by the end of 2017. "Some of the greatest fortunes in shipping were made in the 1950s, a boom time for tankers when the growth trajectory was the best it has been. I'm thinking along similar lines
Tallinn shippers 'wait and see' Many shippers using Estonia's Tallinn port are waiting on early trading results when the new Baltic emissions regime comes into force next month, before deciding to commit to new long-term contracts. "Shippers will wait for the results of the first quarter of trading under the new emissions regime
Dutch and German towage companies raided The Dutch and German competition authorities have carried out raids on a number of towage companies as part of an investigation into suspected illicit agreements. The Netherlands' Authority for Consumers and Markets (ACM) confirmed to IHS Maritime that it had "visited" a number of companies in the
Schneider sees shore power greening port operations Emissions regulations and standardisation of connection equipment are catalysing the uptake of shore side power (or cold ironing) for ships says Catharine Austin, Director of Fathom Marine. A key point is the technology to connect ships to shore power. Navies of the world have been doing this for
NSB to sack hundreds of European officers German container ship manager Reederei NSB today announced its complete withdrawal from the German flag in a major blow to the country's maritime employment. 38 container vessels will be reflagged to other international flag states by 2017 in a bid to cut operating costs and prevent further
New crane hook product hits market Henriksen's, the Norwegian manufacturer, has introduced two new products under their Henriksen Hook brand, for use in crane launching and recovery operations. Ole Rasmus Undrum, sales manager, told IHS Maritime, "The LiftView and Awarelight systems have been developed to be compatible with all
MH370 search continues on two fronts While the underwater search for missing Malaysian aircraft MH370 continues in the Southern Indian Ocean, IHS Maritime has learned a search is also under way some 4,000 kilometres north of the crash site along the Indonesian coast. The Australian Transport Safety Authority (ATSB) charged with
Sanko Steamship emerges from court protection Japanese shipping company Sanko Steamship announced yesterday that it had emerged from court protection. The company, which had a heavy exposure to the drybulk spot market, filed for bankruptcy protection in March 2012, having lost JPY110Bn ($1Bn) in FY2011 due to losses from Handysize and Supramax
Eleven bodies found near sunken Oryong 501 Eleven more bodies were found today near the western Bering Sea where South Korea-flagged stern trawler Oryong 501 sunk. Fishing vessels found the bodies after combing the area near the Oryong 501 that sunk on 1 December 2014 leaving one dead and seven rescued, while the remaining 52 crew were
China gets serious on tax avoidance issue China is taking actions to toughen its policy on tax avoidance by foreign companies to prevent tax payments being directed overseas, said its taxation authorities on Tuesday. China will comprehensively monitor the profit levels of foreign companies to make sure there is no "base erosion and profit
Seoul shipbuilder bags order for more tankers South Korean shipbuilder Sungdong Shipbuilding & Marine Engineering has clinched a deal to build two 157,000dwt shuttle tankers from a major Greek shipowner. With this, Sungdong has recently closed four newbuilding orders from Greek shipowners. Sungdong said that the two tankers would be equipped
China's iron ore inventories post decline Iron ore inventories at 33 major Chinese ports reduced to 104.82M tonnes as of 1 December, from 1.09M tonnes in the previous week, according to the report by Xinhua-China Iron Ore Price Index. The iron ore at Tianjin Port in China was trading at $69.70/tonne, down 1.1% from the price of
Caution urged in shipping assets buying Optimism has returned to shipping market, according to Chris Johnson, partner and head of the Shipping Industry Group at accounting company Moore Stephens Singapore. Johnson told IHS Maritime in a recent ship operating cost seminar held in Singapore that some players are trying to take advantage of
CSAV bosses join Hapag-Lloyd board New directors follow completion of merger to form world's forth largest box line
TSA recommends $1,000 price hike this month Transpacific lines to push up prices to reflect surge in demand ahead of the Christmas period
Maersk and MSC finalise 2M schedules World's top two lines to deploy 193 vessels in 22 east-west strings from next month
Venice seeks global operator for ambitious offshore terminal project New offshore terminal seen as key to Venice's plans of welcoming big ships in the future
Livanos presents a five-year plan to double GasLog LNG company looks to Asia as it outlines bullish ambitions to its investors
German owners face crew crisis, says Behrendt VDR calls on Berlin to act now to shore up the country's shipping interests
Lines turn to agencies to reduce fixed costs ISS says recent contract wins show carriers outsourcing to cut overheads
NCSP profits dented by weak Russian rouble Russia's largest port operator sees profits tumble tenfold
VLCC earnings dip but stay high as flood of cheaper oil stimulates demand Prospects look bright for 2015 for the big tankers, so expect further newbuilding orders
NSB to axe 500 European seafarers in flag-out move No future for Germany as maritime location, says owner of largest boxship fleet
Aronnax: No stay of regulation for UK shipping It's too late to complain about emission-control areas weeks before they take effect
Star Bulk is open to new mergers as it ramps up consolidated entity Much of its activity during the third quarter centered on 'defensive' stance
Caucus will determine whether ILWU signs tentative contract or not LONG BEACH, California - U.S. West Coast contract negotiations could go one of two ways when the International Longshore and Warehouse Union convenes a caucus in San Francisco in the week beginning Dec. 15. If the ILWU leadership believes there is enough substance in what has been negotiated by then, it...
Strong US truck orders reflect rising motor carrier confidence for 2015 Net orders for Class 8 trucks in North America topped 40,000 units in November for the second straight month, reflecting motor carriers' expectations for freight growth in 2015 and broader economic expansion. North American Class 8 truck orders in November jumped 93 percent from the same month last year to 40,560...
2M Alliance reveals finalized service strings Maersk Line and Mediterranean Shipping Co. today unveiled their finalized east-west network for their 2M Alliance, just months before the alliance is slated to begin operating. The 10-year vessel-sharing agreement between the world's two largest carriers was announced in July, after both carriers attempted to form the P3 Network with CMA...
Planned Georgia barge port could handle tank containers A barge port and industrial center are planned on the 800-acre site of a former paper mill at St. Marys, Georgia, just north of the Florida state line. New York-based Worldwide Group and the Knights of the Green Shield, an investment group, plan to acquire the property and develop it for...
US exports take a hit from weakening demand in Europe, Asia Last spring, the World Trade Organization forecast global trade would grow 4.7 percent in 2014, but it cut its growth forecast for 2015 to 4.0 percent from its previous forecast of 5.3 percent. The downward spiral for U.S. exporters of containerized cargo has been even less inspiring, and U.S. containerized...
C.H. Robinson-Freightquote deal puts non-asset LTL services center stage The proposed acquisition of truck brokerage Freightquote.com is much more than attempt by C.H. Robinson to gain more business or e-commerce sales; the $365 million deal underscores and perhaps accelerates a major change in the U.S. less-than-truckload market. C.H. Robinson and Freightquote combined have annual LTL revenue of approximately $1.7 billion,...
Trans-Pacific spot rate spiral wipes out GRI gains Trans-Pacific spot rates continued to sink this week, wiping out all gains made by carriers with Nov. 15 GRIs and sinking to two-year seasonal low. The Drewry Maritime Research benchmark spot rate from Hong Kong to Los Angeles came in at $1,725 per 40-foot container this week. Full size chart. The Drewry Maritime...
G6 service to skip LA port call, citing congestion Citing congestion, the G6 Alliance will omit eastbound calls at the Port of Los Angeles on one service for four straight weeks, starting Jan. 1 The move suggests the G6 carriers don't expect a significant reduction in port congestion at the largest U.S. container port complex in the Western Hemisphere. The...
US toy import growth slips but could recover in coming years Containerized imports of toys through U.S. ports have slipped in recent months but are poised to recover as demographic trends return to more normal patterns following the Great Recession. Containerized U.S. imports of toys in the third quarter dipped 1.1 percent year-over-year ito 254,028 twenty-foot-equivalent units, following a 7.7 percent decline...
Jaxport gains new export business from Acura American Honda Motor has selected Florida's port of Jacksonville to export new Acura MDX and TLX models to the Middle East, further solidifying the U.S. Southeast's status as a growing region for auto production and trade. AHM, the North American subsidiary of Honda Motor Co., is the fifth auto manufacturer to...
TSA makes December $1,000 GRI official The 15-member TSA made its historic December general rate increase official today after weeks of speculation, as trans-Pacific spot rates continue on a downward trend. Member lines will seek a $1,000 per 40-foot container GRI, effective Dec. 15 on trans-Pacific all cargo from all origins and destinations. The rate increase -...
Design unveiled for LNG-powered towboat The design for an inland towboat powered by liquefied natural gas has won approval in principle from the American Bureau of Shipping. Plans for the 4,200-hp towboat come amid growing interest in use of LNG as a marine fuel by carriers in offshore domestic trades, European short-sea services, and even big...
Drewry forecasts 5.6 percent annual rise in global terminal volume Annual volume at global container terminals will rise by a 5.6 percent rate during the next five years and reach 840 million 20-foot-equivalents by 2018, according to a report by Drewry Maritime Research. The increase will push terminals' utilization rates to 75 percent in 2018 from the 68 percent of 2013,...
Lufthansa Cargo pilots to strike Thursday, in second walk out this week Lufthansa Cargo pilots will stage a day-long strike Thursday, the second walk out this week, in a year-long dispute over retirement benefits. The strike, between 2 a.m. and 22.59 p.m. local time, will also ground long-haul passenger flights, which carry around 50 percent of Lufthansa Cargo's freight in the aircrafts' belly...
Global air cargo rebound accelerates The recovery in the global air cargo gathered pace in October with traffic growing 5.4 percent from a year ago to hit a new monthly high, the International Air Transport Association said. The increased volume, driven by strong demand in Asia-Pacific and the Middle East, outpaced capacity growth of 4.4 percent,...
Maersk Line to terminate US-flag service in trans-Pacific Maersk Line will close down the TP5 U.S.-flag service operated by its affiliate Maersk Line Ltd. on Jan. 15, its first step in a new strategy to eliminate unprofitable trans-Pacific services. It will also terminate its eastbound Taiwan Express slot-swap agreement with Evergreen Line on Dec. 31. The end of the...
A new map for infrastructure progress It's an old joke, but a good one: You know you're having a bad day when you show up at work and find a 60 Minutes crew in your office. That bad day came for Congress in November when the CBS television newsmagazine aired a scathing report on the state of...
Emirates expands Asia-East Africa coverage further with CMA CGM Emirates Shipping Line has expanded its Asia-East Africa coverage with two new services in cooperation with CMA CGM, effective this month. The two services, called the Gulf India Africa (GIA) and the Gulf Mombasa Express (GMX), will offer fixed-day weekly schedules operating out of common ports with "port delays not impacting the...
China auto logistics giant links with UTi to unlock global market HONG KONG - UTi Worldwide Inc. has created a strategic partnership with the largest auto logistics provider in China in a move that will position both companies for an expected increase in the exporting of finished vehicles to overseas markets. The UTi partnership with Beijing Changjiu Logistics will initially provide the...
Consolidation coming to China's price driven courier market HONG KONG - Low barriers to entry and soaring demand are stimulating fierce competition in China's domestic courier business, but for half the companies in the market it will be a race to the bottom. Because of the intense price competition, China Express Consulting Network estimates over 50 percent of SMEs...
Hope in OSV-to-rig ratio Tidewater chief executive Jeffrey Platt is hopeful that a key supply-and-demand metric for the offshore vessel market will work in owners' favour.
VLCCs suffer setback VLCC activity is starting to slow in the Middle East but many tanker brokers and Wall Street equity analysts believe the lull will be relatively short-lived.
Star Bulk takes flight Shares of Star Bulk Carriers are starting to retake some of the ground that was lost during yesterday's sell-off.
Montanaro adds to Clarksons stake Montanaro Asset Management has grown its interest in Clarksons hot on the heels of its $441m takeover of RS Platou.
ICAP shows X Factor X Factor judge Cheryl Cole, now known as Cheryl Ann Fernandez-Versini, tried her hand at shipbroking during Icap's 22 annual charity day.
Havyard identifies patron A diversified Russian operator has emerged as the counterparty behind a recent contract to construct a pair of ice-breaking offshore vessels at Havyard in Norway.
No hope in 2015 Shipping markets are unlikely to recover before 2016, according to the chief executive of German bank Nord/LB.
Navios in buyback scheme Angeliki Frangou-led Navios Maritime Acquisition (NNA) has revealed a $50m share repurchase programme.
Crewman burned
Dalton tops up on Avance Californian hedge fund Dalton Investments has lifted its substantial position in VLGC owner Avance Gas.
"Phantom" vessel found An abandoned vessel carrying cigarettes has been found by Greek authorities in Zakynthos island, on Tuesday.
Stop moaning The UK's RMT union has criticised shipowners for "alarmist" statements on the impact of new low-sulphur fuel regulations.
Cocaine found on reefer Around 300 kilos of cocaine hidden among bananas on a Panama-flagged vessel have been seized by UK authorities in the port of Portsmouth.
SCI sells veteran Shipping Corporation of India (SCI) has offloaded another offshore vessel as it renews its fleet.
Damaged Kertu scrapped A Maltese cargoship has arrived in Denmark for scrapping after it grounded off Sweden in October.
Wuhan seals CSDC deal Wuhan Iron Group (WIG) has won Chinese government approval to become the second-biggest shareholder of China Shipping Development Co (CSDC).
BW LPG buying back Oslo-listed BW LPG is to spend up to $15m buying back its own shares.
NSB quits German flag Boxship owner Reederei NSB has confirmed it will leave the German flag, putting 486 German and European crew out of work by 2017.
Asians eye ship buys Asian investors are increasingly looking to move cash into shipping and property as interest rates stagnate.
Gu denies taking bribes The former boss of China's Hudong-Zhonghua shipyard has denied taking bribes worth nearly a million dollars.
BW and Pavilion name duo BW Group and Pavilion Energy have named the first two LNG newbuildings that will go into their joint venture outfit.
Reef gets more protection A two-way shipping route in Australia's Great Barrier Reef and Torres Strait has been formalised by the IMO.
Dorian to exit Oslo Dorian LPG is set to de-register from Oslo's Over-The-Counter (OTC) market, the company confirmed Wednesday.
Norbye to leave DESS Finn Amund Norbye is quitting as chief executive of Deep Sea Supply after to close to ten years with the company.
No slow-go for Livanos GasLog Ltd chairman Peter Livanos does not plan to wait to begin delivering on growth goals unveiled today, nor does he intend to stop at the new plan's 2017 horizon.
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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