Meyer Werft charts Turku investments Meyer Werft has a range of investment options for its newly-acquired Turku yard, Finnish business daily newspaper Kauppalehti has reported. Finland's foreign trade minister Lenita Toivakka, with company representatives from the Finnish maritime cluster, visited Meyer Werft's (MV's) Papenburg unit
Stockholm rewards eco-friendly ships From 2015, when the new MARPOL Tier III Sulphur Emission Control Area comes into force in the Baltic Sea (plus the English Channel and North Sea), Ports of Stockholm will introduce a new system of fees and discounts. These will financially reward shipping companies that take environmentally
Branson's Virgin enters cruise fray Sir Richard Branson's Virgin Group has officially launched its long-gestating cruise venture, heralding a new competitive force in the industry. Virgin has been quietly exploring a cruise strategy for more than a decade. Branson spoke openly of the plan to the press in March 2014. On 4 December,
DSME builds presence in LNG carrier market South Korea's third-biggest shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) is building its presence in the LNG carrier market based on its unrivalled technology, said an analyst in a research note. Daishin Securities analyst Feynman Jeon said, "In 2014, DSME sharply expanded its share
Norsepower trials Rotor Sail solution Finnish marine engineer Norsepower has installed its Rotor Sail solution (NRS) aboard Bore's ro-ro MV Estraden to gather data on its effectiveness. The 18m high sail was fitted during the ship's seven hour call in Turku port. The foundations were installed in 2013 when the ship had a compulsory
Dorian insiders poised to sell The post-initial public offering 'cashing out' process has begun for Dorian LPG, with five major ownership groups registering to sell shares. Up to 33,789,376 shares of NYSE-listed Dorian could be sold on a 'time to time' basis, according to a securities filing on 3 December. Those shares equate to
KG veteran Oltmann swoops again KG issuing house Oltmann has fully invested its last remaining old-style KG fund with the acquisition of a heavy-lift multi-purpose vessel. Investors in the group's second equity-only fund were informed that the 9,500 dwt Lena J has been added to the portfolio. The German-built heavy-lift ship with
UK charity wants 'hard facts' on missing seafarers The Seafarers UK charity has donated £16,600 ($26,000) to set up an "international register of missing seafarers, including fishermen". The database will be created by the London-based Human Rights at Sea (HRAS) organisation, led by maritime lawyer David Hammond. Speaking to IHS Maritime, the
Seaborne thermal coal edging down Global seaborne trade in thermal coal will be marginally down this year chiefly due to import restrictions in China, the German coal importers' association VDKi said today. Volumes shipped by deepsea vessels globally are forecast to decrease from 863M tonnes in 2013 to 860M tonnes this year. The
Berlin signals further aid to beleaguered owners A surge in distressed sales and German owners leaving the German flag appear to have convinced the German government that more state support is necessary to stabilise the maritime sector and particularly nautical employment. After months of lobbying by shipping industry representatives, Germany's
Otto Ventures takes 49% stake in RH Otto Singapore-listed offshore services provider Otto Marine announced that its wholly owned subsidiary, Otto Ventures, has entered into a joint venture agreement to subscribe to 49% of the shares of RH Otto. Otto Ventures will hold 49 RH Otto shares of $1 each, described in an announcement to the
Vard incorporates subsidiary in Poland Singapore-listed offshore vessel designer and builder Vard Holdings (Vard) has incorporated a wholly owned subsidiary, Vard Engineering Gdansk, in Poland. The incorporation is done by Vard Engineering Brevik AS, an indirectly held subsidiary of Vard. The newly Poland-incorporated company, Vard
Guangdong Lanhai fleet still on the block The fleet of Guangdong Lanhai Shipping that was put on an auction block have yet to find buyers as a Chinese maritime court ordered a second round of auction yesterday. The Chinese bulker operator's vessels are identified as five Supramaxes of Lan Hai Chuang Ye, Lan Hai Tuo Zhan, Lan Hai Li Liang,
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
Big tankers and bulkers gather speed Lower oil and bunker fuel prices lead VLCCs and capesizes to accelerate
Russian Register celebrates 55 years classing nuclear-powered shipping Class society is working on new generation of nuclear-powered ships
Teekay LNG signs charters with Shell for five newbuildings Vessels will start hitting the water in 2017
CMA CGM takes $880m facility French carrier tight-lipped on reasons for the trade receivables securitisation
Prospects look bleak for German shipping There are few grounds for optimism in 2015, say Hamburg industry sources
Scorpio puts shares in Dorian LPG up for sale If Scorpio's shares sell, it will bring in $121m
OPDR joins CMA CGM with a new service between Sweden and Spain Shortsea carrier and X-Press Feeders launch Gothenburg-Bilbao calls
DSV and UTi end acquisition talks Forwarders fail to reach a deal as APL Logistics draws up a buyer shortlist
G6 alliance halts Los Angeles call Lines suspend eastbound call on PA1 service due to US west coast congestion
Oltmann announces 43rd vessel purchase since downturn Countercyclical strategy pays off for investors, says KG house
Shell orders LNG bunker vessel Ship to be deployed at Rotterdam's new LNG break bulk terminal due 2016
Tankers have the X factor as dry bulk is voted off at ICAP charity bash Brokers spill the beans on the market as celebrities fix ships at ICAP Shipping's annual charity event
Landstar narrows revenue forecast to higher end on strong truck demand Landstar System on Wednesday narrowed its fourth quarter revenue forecast to the higher end of a range after seeing strong trucking demand in October and November, the latest sign of a steadily expanding U.S. economy pushing more freight into the arms of motor carriers. The company operating performance in the two-month...
Descartes profit soars on rising tech demand to handle regulation Transportation technology provider Descartes increased its net income 91 percent year-over-year in its fiscal third quarter, citing the industry's growing reliance on logistics technology to handle increased trade regulation. Revenues grew 11 percent year-over-year to $43.1 million in the company's third quarter, Descartes CEO Edward Ryan said. The company's fiscal quarter...
Asia-Europe spot rate plummet continues Spot rates for containers heading from Asia to Europe dropped an additional 15 percent this week, sinking to 19-month low. WCI's Shanghai to Rotterdam lane showed yet another drastic drop, hitting $1,304 per 40-foot container. Full size chart. Following the same pattern as rates on the Shanghai Containerized Freight Index, spot rates on...
Lazaro Cardenas port volume expands for second straight month Lazaro Cardenas, Mexico's second-largest container port, saw traffic rise for second straight month in October. Volumes had been decreasing since March 2013 until traffic rose 9.1 year-over-year in September. Year-to-date, throughput is down 7.2 percent to 823,406 TEUs. The volume gains could be in part due to shippers and carriers diverting from...
US intermodal service metric improves on Thanksgiving traffic respite A decline in U.S. intermodal traffic on a week-to-week basis, because of the Thanksgiving weekend, allowed the railroads to improve a key metric of intermodal rail service. The average intermodal train speed increased 0.9 miles per hour in the week ending Nov. 29 compared to the prior week, according to statistics...
Obama throws cold water on prospects of gas tax hike WASHINGTON - President Obama on Wednesday severely downplayed the chances of hiking the federal fuel tax to provide more stable surface transportation funding. When pressured by FedEx CEO Fred Smith on why he isn't take advantage of an opportunity to achieve bipartisan success on the issue, Obama said getting "votes on gas...
US maritime bill hits snag over cargo preference Two U.S. senators are objecting to a provision in a House-passed Coast Guard reauthorization bill that they say will require more U.S food aid shipments to be carried on U.S.-flag ships. Sens. Bob Corker, R-Tenn., and Chris Coons, D-Del., told the congressionally focused newspaper Roll Call that they will object if...
CKYHE Alliance gets US regulatory blessing WASHINGTON - The CKYHE Alliance this week received U.S. regulatory approval to further integrate its newest member, Evergreen Line, into its vessel-sharing agreement covering the trans-Pacific and trans-Atlantic trade lanes. U.S. Federal Maritime Commission unanimously voted to allow the revamped alliance - consisting of Cosco, "K" Line, Yang Ming, Hanjin...
US senator urges FCMSA to target 'chameleon' truckers Spurred by a fatal truck accident, a U.S. senator is pushing federal regulators to do more to crack down on rule-breaking trucking companies that change their names to avoid out-of-service orders. The Federal Motor Carrier Safety Administration is currently considering ways to better screen for so-called "reincarnated" or "chameleon" motor carriers,...
DSV, UTi say 3PL merger talks are off Global third-party logistics providers DSV A/S and UTi Worldwide said they are no longer discussing a merger or acquisition. UTI's stock price jumped as much as 28 percent Wednesday after Bloomberg reported that the companies were in advanced talks about a deal. "Although UTi can confirm that exploratory conversations have taken place...
Lufthansa Cargo-ANA joint venture takes off Lufthansa Cargo and All Nippon Airways have launched the world's first air cargo joint venture, with maiden flights between Europe and Japan. The initial shipment, consisting of three pieces of general cargo booked by Lufthansa, was flown by ANA to London on Dec. 2. Because of the direct ANA flight, the consignment...
Brussels airport, rail workers set Dec. 8 strike London - A 24-hour strike on Dec. 8 at Brussels airport threatens to severely disrupt cargo operations at Europe's seventh-largest air freight hub. The planned walkout by airport workers is part of a month-long campaign of regional strikes called by labor unions to protest austerity measures announced by Belgium's new center-right...
Port of Portland's Wyatt aims to retire in two years Bill WyattBill Wyatt, executive director of Oregon's port of Portland and one of the longest-serving port leaders on the West Coast, said he will retire within the next five years, and hopes to retire around his 67th birthday, two years from now, according to Portland Business Journal. Last year, Wyatt named his...
What's next in LTL pricing? The less-than-truckload industry saw some resurgence in 2014 with carriers' ability to dig out of suboptimal returns from low-single-digit operating margins. Third-quarter results for publicly traded LTL carriers show a collective operating ratio of 92, a significant improvement from 94 a year ago. This should give LTL carriers optimism about...
Distribution issues hold back India's e-commerce business HONG KONG - India's fast growing e-commerce market is facing some formidable challenges, with nation-wide distribution among the key issues logistics services providers must overcome. "Logistics is where the promise of online gets the offline reality check," is how Citi Research put it in a recent report on Indian online shopping...
Intra-Asia market in rapid expansion mode, LCL specialist says Mike Dye, AGS World Transport. group president and CEO.HONG KONG - Less than container load specialist AGS World Transport is growing its Intra-Asia business at "double digit" levels that it expects to extend through 2015 as trade expands across the region. Short sea and feeder routes between Japan and Korea, and...
Dorian emerges unscathed Wall Street does not appear to be rattled by reports that Scorpio Tankers is looking to offload its stake in Dorian LPG.
Alpha Bank seals $500m securitization A leading Greek lender has raised more than $500m by securitizing part of its shipping loan portfolio.
Tsakos to wear CMA hat The Connecticut Maritime Association (CMA) is poised to announce that Greek shipowner Captain Panagiatos Tsakos will be named its 2015 commodore at its annual conference in March.
Hold the foam A leading protection-and-indemnity club is urging members to adopt measures aimed at detecting the presence of 'cappuccino bunkers'.
New loops launched CMA CGM is moving forward with a campaign aimed at improving loops that link the Indian subcontinent to Africa and the Middle East.
Vale rattles market Forecasters who track the dry-bulk market were reeling this week in the wake of reports that Vale has lowered its production target for 2015.
Diana bets on BCI Diana Shipping of Greece has lined up a period deal for one of its capesize bulkers.
Teekay fixes five Teekay LNG has agreed time-charter contracts for five newbuildings with oil major Shell.
Branson unveils cruise plan With a stated ambition to "shake up the cruise industry", billionaire Richard Branson has officially announced the formation of Virgin Cruises, his new shipping venture.
France to pay pirates France has been ordered to pay compensation to Somali pirates whose human rights it abused.
MUA backs asylum seekers Australia's Maritime Union (MUA) has strongly opposed the government's bid to implement legislation that will allow the forced removal of asylum seekers from Australian territory.
Scorpio cashing out of Dorian Scorpio Tankers has put its 16.3% holding in Greek VLGC owner Dorian LPG up for sale.
CSAV takes board seats President and CEO of Chilean owner elected to Hapag-Lloyd's board following merger.
OSK extends design deal Danish naval architect OSK-ShipTech has won an extension of its design deal for Rederi AB Gotland's new LNG-fuelled ro-pax.
Missing but not forgotten Seafarers UK is to fund the development of an international register of missing seafarers in collaboration with Human Rights at Sea (HRAS).
MES wins gas double Japan's Mitsui Engineering and Shipbuilding (MES) has sealed two deals to build engines compatible with new low-sulphur regulations to be introduced on 1 January.
Tie-ups to continue Consolidation in the containership sector is likely to continue, according to CMA CGM's Farid Salem.
OW targeted again A group of mainly US-based investors have banded together to sue bankrupt Danish ship fuel and tanker group OW Bunker.
Shell gears up for gas Shell is to build an LNG bunker vessel to serve the new breed of gas-fuelled ships in north-west Europe.
IHB buys again Industrial Holding Bulgaria (IHB) has snapped up another slice of a subsidiary yard in Bulgaria.
Five vie for NOL unit Five potential bidders have been linked to a takeover of Singapore line NOL's APL Logistics business.
Varun settles with crew A Varun Shipping aframax tanker arrested in Singapore in October over unpaid wages has been released, court documents show.
Hedland volumes dip Iron ore shipments from Australia's Port Hedland declined to a five-month low, according to port authority figures.
MACS targets Atlantic MACS Maritime Carrier GmbH is set to start a new monthly transatlantic multi-purpose service early in the New Year.
FMC approves CKYHE The five-strong Asian container lines alliance CKYHE has secured approval from the US Federal Maritime Commission (FMC).
GasLog shares rally Shares in Peter Livanos-led GasLog burst back into life on Wednesday after several days of heavy selling.
Party patrol 2014 turned out to be a tougher year than many had expected and a growing number of forecasters fear turbulence will continue to rock many of the industry's core markets in 2015.
Tighter environmental rules to drive demand for fuel additives Asia Pacific to account for roughly 28% of market by 2019, says research firm.
Tips to counter the 'cappuccino effect' Shortfall in actual bunkers delivered could amount to huge financial losses over time.
Report: Cheaper bunkers to save shipping firms $29 billion Projection based on price slump since November and the industry's total consumption.
French Atlantic LNG bunker partnership taking shape Montoir aiming to supply ships calling at Nantes.
Lower bunker prices 'benefiting the entire industry' Oil market outlook remains 'bearish'.
EU to fund UK alternative bunker fuel project Gas propulsion for two ships forms part of development work.
OW Bunker case under review by serious crime office No charges pressed but investigation to determine if crimes have been committed.
Glander International Bunkering adds 10 traders New hires made across Dubai, Mumbai, Singapore offices.
'Weak bunker demand' sees fuel oil stocks rise Volatile prices have dampened demand.
Shanghai to offer 'cold ironing' Chinese container port in steps to cut ship generated pollution.
Report: US investors gunning for OW backers Danish law firm hired to pursue claims.
Shell to build sea-going LNG bunker vessel Newbuilding to be based at Rotterdam.
Skangass signs LNG bunkering deal Move marks the company's first STS bunker supply contract, says CEO.
LNG-powered ferry design under development Ship ordered by Swedish ferry operator.
Gibraltar in unique approach to MARPOL enforcement Port authority requires local suppliers to keep a MARPOL sample, and will investigate serious sulphur complaints.
Series of LNG-powered river vessels to enter Chinese fleet Deliveries due to start within the next six months.
Russian port operator reports bunkering sales slip Profit growth slows during the first nine months this year.
WTI crude climbs as US inventories drop US stockpiles fell 3.69 million barrels to 379.3 million last week.
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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