Euronav reveals its hand COMMENT: Latest move displays keen business sense
Euronav sets up joint venture to buy OSG tankers Partnership with GSO Capital Partners makes a move for five vessels
Primorsk Shipping sells suezmax for conversion into FPSO Conversions offer openings for tanker sellers
Borealis buys IMTC containerships Maersk steps in over laid-up vessels to end long-running dispute
Kexim provides $353m financing to Economou-linked LNG entity State lender backs Oceanus' order for four liquefied natural gas tankers at DSME
Clock is ticking on Enrica Lexie case India must decide whether to invoke death penalty laws within a week
Goldenport keeps its options open on bulker buying London-listed owner prefers secondhand tonnage but does not rule out newbuildings
London Gateway benefits from stormy weather across northern Europe The UK's newest port leaps on the chance to prove itself to prospective customers
CMES confirms a new batch of bulkers and LNG newbuildings State carrier keen for new investment despite $363m loss last year
Saudi Arabia opens new container gateway Low-key start for King Abdullah Port
Jeddah expands to meet demand The only way is up as volume growth feeds investment in infrastructure
Data Hub: Load Factors This month, Containerisation International takes a look at the likely vessel utilisation rates on some of the key European trades
Otto Marine sells two maintenance vessels for $30m Offshore specialist promotes chief finance officer to new executive role
Scorpio Bulkers charters in five dry bulk carriers Prices range from $13,250 per day to $16,000 per day
Epic Gas plans $75m Oslo private placement Proceeds will expand LPG carrier fleet
Maersk remains the most reliable box carrier But service gap between best and worst performers is narrowing, says SeaIntel
'Welcome on board - the mate's a bastard' Bullying at sea has a long tradition but a new initiative aims to stamp it out
JRS refinances mortgages on two ships Dutch ship manager JR Shipping has managed to save two of its container ships by refinancing the vessels' mortgages
Robbers board chemical tanker in Malacca Straits Five robbers armed with knives boarded a chemical tanker anchored at Dumai Inner Anchorage, Indonesia, in the Malacca Straits, the International Maritime Bureau reported on 3 February
SMIT wins contract to remove rig SMIT Salvage is believed to have been awarded a contract to remove a damaged jack-up platform from the seabed off Angola
Finnlines reorganises operations The Grimaldi Group's Baltic subsidiary, Finland-based Finnlines, has reorganised its operations so that it is sole fleet owner
OSG to auction off five tankers OSG will sell five crude tankers through an auction process, with an initial 'stalking horse' bid placed by a joint venture between Euronav and private equity group Blackstone
Dover-Calais passenger numbers rise The number of passengers ferried between Dover and Calais and Dunkirk rose by 6.8% to 12.7M in 2013
Power outage halts exports from Richards Bay A power failure at South Africa's main coal port Richards Bay could halt the export of up to 1.5M tonnes of coal
Polluted rivers 'can lead to extreme corrosion' Shipowners have recently complained of significant vessel corrosion after calling at certain ports in polluted river systems in Vietnam over the past two years, according to P&I club Gard
Turkey, Bulgaria close road borders to trucks Turkish hauliers are reported to have begun looking for alternative sea routes following the closure of Turkey's road borders with Bulgaria in a tit-for-tat dispute over transit passes for trucks
TTA shareholders approve rights offering Shareholders in Thailand's Thoresen Thai Agencies (TTA) voted 90% in favour of a rights offering, the company said in a statement
Severe Weather Chills Manufacturing, Slows Deliveries Snow, sleet and freezing rain may be impeding visibility on U.S. highways, but the impact of severe winter weather on the U.S. economy is clear in the Institute of Supply Management's latest economic indices. The January PMI index of factory activity, released Feb. 3, declined 5.2 percentage points from December...
Q&A: Sealing the Deal on Damages Q: This relates to your column concerning the carrier that showed up with a seal number on the trailer that didn't match the bill of lading. I'm not a lawyer and write this simply out of curiosity, but if the seal number isn't the one that's in the B/L, I think...
California Ports Outpace PNW Rivals Container volumes moving through West Coast ports in 2013 increased 2 percent compared to 2012. Loaded import containers also increased 2 percent, as did loaded export containers, according to numbers posted on the website of the Pacific Maritime Association. Los Angeles-Long Beach led the way last year for West Coast ports....
SeaIntel Report: Carriers' 4Q Reliability Hit All-Time Low Based on SeaIntel's monthly Global Liner Performance reports, container ships reached their destination ports around the world on time 79.5 percent of the time in 2013, down 1.1 percentage point from 80.6 percent in 2012. The year was capped off with a month-over-month drop of 7.7 percentage points in December...
Weather, Congestion Produce Chassis Shortages Winter weather has combined with congestion at terminals and backlogs for repairs to produce chassis shortages at the Port of New York and New Jersey and at Midwest rail terminals. New York-New Jersey drayage drivers have complained for weeks about tight supplies of chassis at some terminals. Truckers are reluctant to send...
US House Transport Leader Says Not Time for Fuels Tax Hike WASHINGTON - The prospects of raising the fuels tax to avoid the impending bankruptcy of the main engine of surface transportation funding took a major hit today after House Transportation and Infrastructure Committee Chairman Bill Shuster said it wasn't time, citing a slow economic recovery. Raising the fuels tax through the...
Poseidon Marine Security launches ProtectaDeck Manchester - UK - Poseidon Marine Security has launched a global marketing campaign for its new product ProtectaDeck, an anti-piracy barrier for the shipping industry to protect vessels and oil rig platforms from the increased number of piracy attacks throughout the world . ProtectaDeck prevents intruders from boarding, is inexpensive, as well...
Getting the Most Out of GTM Although it's difficult to comprehend that another year has come and gone, 2013 is no less officially in the books with 2014 out of the gate and charging hard. For a fortunate number of you, 2014 will be the year you finally get that Global Trade Management system you've been...
Savannah Deepening Could Begin Soon Container ship entering Savannah River.SEA ISLAND, Ga. - The port of Savannah is drawing closer to a moment deemed critical to the future of the United States' fastest-growing port over the past decade and a half: commencement of construction of its 47-foot deepening project. Though uncertainties remain, what is called the...
Waterfront Commission, Industry Spar Over Lawsuit A new skirmish has broken out in a joint employer-union lawsuit challenging the Waterfront Commission of New York Harbor's revised rules for hiring dockworkers in the Port of New York and New Jersey. The Waterfront Commission claims the latest version of the lawsuit by the New York Shipping Association and the...
Greek Shipowner Goldenport Trims Losses Goldenport, the Greek shipowner, trimmed its losses in 2013 as a recovering dry bulk market countered the impact of a fifth consecutive year of weak container ship charter rates. The company posted an adjusted net loss, excluding impairments and provisions, of $11.9 million against $16.8 million year earlier despite a revenue...
Profit Climbs for India's Concor State-owned rail operator Container Corp. of India reported its net profit in the third fiscal quarter, which ended Dec. 31, 2013, was $40 million, rising 5.4 percent year-over-year from $38 million. Quarterly revenue surged 14.5 percent from a year earlier to $198 million. Operating income from Concor's core international container hauling business...
Saudi Airlines Cargo Boosts Volume Saudi Airlines Cargo continued to increase its volume despite a tough year for the air freight sector in 2013. The Middle Eastern carrier handled 557,800 tons last year, up 8 percent year-on-year. Scheduled revenue also rose 6 percent in the same time frame. The strong end to the year saw Saudia post...
China Seen Targeting Transshipment Cargo Supply chain operators claim intra-Asia cargo shipped to China via South Korean ports is being hit with unnecessary delays and tariffs that could be part of a Chinese strategy to reduce reliance on foreign transshipment ports. According to liner sources, China-bound cargo from South East Asia transshipped in South Korean ports...
Chassis Crisis at LA-LB A crisis of chassis dislocations has developed in Los Angeles-Long Beach, and the entire port community is seeking a solution before it spins out of control. Harbor truckers, who are bearing the brunt of the problem, are experiencing unusually long turn times because marine terminals do not have the types and...
Japanese Lines Report Losses, Blame Overcapacity Japanese carriers NYK Line, MOL and "K" Line posted combined losses of more than ¥14.5 billion Japanese (about US$144.4 million) in the first three quarters of fiscal year 2013, through Dec. 31, 2013, and predicted that falling freight rates will continue to negatively impact profitability in the near term. In their...
South Korea's Economy Expected to Thrive in 2014 South Korea's economy is expected for perform better this year as export demand picks up. GDP increased 2.8 percent in 2013, and HSBC predicts it will see an "export-led recovery" and rise to 3.2 percent this year if manufacturers are able to increase penetration of Chinese markets and benefit from improving...
Yusen Logistics' Profit Plunges Despite Revenue Growth Major Japanese international freight forwarder Yusen Logistics Co. said that its group net profit plunged 38.9 percent in the first three quarters of fiscal 2013, which started on April 1, 2013, from a year earlier to ¥913 million (US$8.95 million) despite a big jump in operating revenue. The Tokyo-based company saw...
'Little bit too much' Shipowners have built "a little bit too much" in the products tanker space, limiting growth potential in the sector, Navios president Ted Petrone said today.
Ardmore lands loan Ardmore Shipping of Ireland has secured a credit facility that will help bankroll some of its newbuildings.
Peter's principles Size matters in shipping, but go figure, paying one's bills might matter even more.
Euronav seals takeover Euronav is gearing up for another trip to the sale-and-purchase market after securing the cash it needed to complete the acquisition of 15 VLCCs from Maersk Tankers.
Diamond readies IPO Wilbur Ross-backed Diamond S Shipping has acquired ten product carrier newbuildings from Greece's Metrostar ahead of a New York float expected to be unveiled imminently, sources told TradeWinds this week.
Euronav eyes OSG tankers Euronav and the Blackstone Group have launched a campaign aimed at acquiring five tankers from bankrupt US operator Overseas Shipholding Group (OSG).
SCI eyes Myanmar Shipping Corporation of India (SCI) will launch a new liner service to Myanmar within a month - if state subsidies are forthcoming.
Tianjin profits dwindle Chinese container line Tianjin Marine is expecting profit to drop away to nearly zero for 2013.
SCF staying flat Russian shipping group Sovcomflot is not expecting vastly different annual results after a difficult 2013.
Mercator thinks big Indian owner Mercator has won shareholder approval to seek loans of up to INR 50bn ($800m).
Cassens wins ro-pax German shipbuilder Cassens Werft has clinched a new domestic ro-pax contract.
Options a gas Hoegh LNG will grant 1,290,000 shares at a fixed strike price of NOK 47 ($7.50) in a second round of stock options to senior management and key employees.
Azores auction A cargoship stuck in Ponta Delgada since 2012 is to be auctioned off by the port authority of the Azores.
Bank merger urged Two leading German shipping banks would be better off merging, according to the head of the savings bank association for the state of Schleswig-Holstein, SGVSH.
GOS: 'no exit' India's Global Offshore Services (GOS) has denied the controlling Garware family is selling the company.
Nordic Marine adds barge Danish bunker company Nordic Marine Oil (NMO) has bought a barge to capitalise on marine gasoil (MGO) business in Esbjerg.
Otto books sales profit Singapore's Otto Marine has banked a tidy profit from selling two offshore support vessels into Malaysia.
MES stronger Japan's Mitsui Engineering & Shipbuilding (MES) has pushed up earnings in the first nine months, but expects a dip in the fourth quarter.
Virtu sues US Virtu Ferries of Malta is claiming EUR 782,000 ($1.06m) from the US government for a delayed rescue mission in Libya.
Smit wins rig deal SMIT Salvage has secured a contract to remove a sunken jack-up rig from waters off the coast of Angola, West Africa.
WWL closes in Wallenius Wilhelmsen Logistics (WWL) looks set to win clearance to run an Australian car terminal.
CMES makes it ten China Merchants Energy Shipping (CMES) has maintained its newbuilding push with four more ultramax bulkers at Chengxi Shipyard.
TTA wins approval Thoresen Thai Agencies (TTA) has received shareholder approval for a planned capital increase and rights offering.
Oz spill fine for owner Johann MK Blumenthal has been fined AUD 1.2m ($1.06m) by a court in Australia for an illegal discharge of heavy fuel oil (HFO).
Epic heads for Oslo Epic Gas, the Singapore-based LPG player, has confirmed plans to list on Oslo's Over The counter (OTC) market.
Kirby exec abandons ship Gregory Binion is leaving Kirby Corp after more than ten years as one of its top executives.
ABS takes aim American Bureau of Shipping (ABS) of the US appears to be turning the tables on one of its biggest rivals.
CLARIFICATION: CMA CGM's 2nd U.S. East Coast-Oceania loop
Panama Canal official hopes lock dispute settled soon Manuel Benitez, deputy administrator of the Panama Canal Authority, said Monday he is still hopeful that an agreement can be reached between the canal authority and the contractor group building a new set of locks.
FDA proposes sanitation rule for food transport The agency said its proposed a rule would require certain shippers, receivers, and carriers who transport food by truck and rail for either human or animal consumption take steps to prevent contamination.
Washington Notebook: Governors urge action to rescue Highway Trust Fund
DHS' Super Bowl defense stops fake gear from reaching market Department investigators seized more than $21.6 million worth of fake National Football League merchandise, arrested more than 50 people and shut down more than 5,000 Websites in coordination with the NFL.
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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