DHT announces $636m Samco VLCC deal Transaction dependent on new equity and bond fundraising
P3 is behind us; Ocean Three will be up and running by December, says Saadé CMA CGM vice chairman sees no regulatory hurdles that could halt the announce partnership with UASC and China Shipping
Capital Product can count on 'continued backing' from Marinakis Shipowning family still controls 18.7% after $151m fundraiser
Aronnax@SMM: Gas lights up the Hamburg chatter FREE CONTENT: Bureau Veritas leads the LNG race with three announcements
CMA CGM, UASC and China Shipping unveil rival to 2M, G6 and CKYHE Ocean Three vessel-sharing and slot-exchange agreement will start later this year
Canada considers Greek ferry to replace Bay of Fundy old-timer Federal government has set aside some $55m and could purchase Blue Star Ithaki
Baltic aframax earnings are on ice as maintenance starts at Primorsk Earning opportunities fall as work begins this week at Russian oil port
SMM 2014: DNV GL yet to issue joint rules Two merged class societies still working on combining their classification rules
Crimean flaw - hard sell for hosts of Ukraine's answer to Posidonia Organisers of Export to EU blame Russia for undermining Ukraine's business appeal
Euronav files for IPO in the US Brussels-listed tanker specialist aims to raise $100m to boost liquidity
Asian container ports struggle with the worst congestion in 20 years Complicated nature of vessel-sharing agreements said to be part of the problem
Dynagas prices $250m bond Baby bond helps fund drop down candidates
Australian coal exports under pressure as prices fall Quarter of Queensland coal produced at a loss
K Line adds five 14,000 teu boxships Move suggests CYKHE alliance will have at least 70 ultra-large containerships on Asia-Europe routes
Euronav files for US IPO Tanker major Euronav has registered to float in the US and plans to drop its Brussels listing in favour of the New York Stock Exchange (NYSE). Euronav has filed to sell up to $100M in common shares as well as to swap 94.1M shares listed on NYSE Euronext Brussels for shares on NYSE in the US. At
ChartCo buys Regs4Ships Digital chart company, ChartCo, has acquired Regs4ships, a supplier of digital regulatory information, consultancy, and training. ChartCo Managing Director Martin Taylor said Regs4Ships has been a long-term partner of his company, which offers services to help navigators maintain the chart outfit
Meteo-tsunami behind Perth ship accident A 'meteo-tsunami' caused a vessel in Australia's Fremantle Port to break its moorings and crash into the pylon of a railway bridge, a report has concluded. In August, at the time of the incident, the collision was blamed on strong winds. But Professor Charitha Pattiaratchi of the University of
JMU secures two bulker orders Japan Marine United (JMU) has secured two orders from Greek shipowners for a total of four Supramax bulkers - three for Carras Hellas and one for Adelfia Shipping Enterprises. Carras Hellas's three 60,000dwt vessels are scheduled for delivery in March 2016, May 2016, and April 2017. Adelfia's single
CMA CGM responds to 2M with Ocean Three CMA CGM responded today to the recently announced 2M partnership between Maersk and MSC with the announcement that, as widely forecast, it is forming an alliance with China Shipping Container Lines (CSCL) and United Arab Shipping Company (UASC). The Ocean Three alliance involves three separate
Evergreen stops deepsea calls at Taranto Evergreen is taking Taranto off its long-haul Asia route from 21 September after delays in upgrading the southern Italian port. The Taiwanese container line is introducing larger vessels on the route from October but will stop calling at the state-operated port as the Taranto Container Terminal
Hormuz network 'in operation next year' Qnective's new maritime comms network in the strategic Strait of Hormuz is expected to operate from spring 2015. The network will introduce intensive ID, freight, and itinerary information monitoring of all ships in Oman waters. "At the moment we are in the testing phase and the network is expected
China's coal and iron ore imports plunge China's coal imports of 18.86M tonnes in August tumbled 18.1% from July while iron ore imports, at 74.88M tonnes, slipped 9.3% month on month, according to China's Customs. Coal imports over the first eight months totalled 202M tonnes, down 5.3% from the same period in 2013. But a fall in China's
VLGC rates rise as ship supply tightens Rates to haul LPG on very large gas carriers are heading north again as more ships get diverted to loading areas in the west-of-Suez. As of yesterday, the Baltic Exchange assessed rates on the benchmark Arabian Gulf-Asia Pacific route at $106.857/tonne, up $0.78 from 5 September and up $4 from a
Unipec fixes ULCC storage off Singapore Unipec, the trading arm of Chinese oil company Sinopec, has fixed an ultra-large crude carrier to store oil around Singapore, brokers told IHS Maritime. Brokers said Euronav's 442,000dwt TI Europe has been fixed to Unipec for a firm six months at $25,600/day, with an option to extend the hire for
UMW-OG wins $46.5M Petrovietnam contract Petrovietnam Drilling & Well Services (PV Drilling) has awarded Malaysia-listed UMW Oil & Gas (UMW-OG) a $46.5M contract for the provision of a jack-up drilling rig and associated services for end clients PC Vietnam and Petronas Carigali Overseas. UMW-OG will assign its newest rig, UMW NAGA 6, for
Westports unfazed by Khazanah divestment rumor Malaysia-listed port operator Westports Holdings is unfazed by the rumor that Malaysian sovereign wealth fund Khazanah Nasional (Khazanah) may divest its entire 4.74% stake in the port operator. "Khazanah has not told us anything yet, but the move, if true, wouldn't be surprising because it has a
CMES-Sinotrans&CSC launches JV China Merchants Energy Shipping (CMES), a Chinese bulker and tanker operator, said its tanker-operating joint-venture with compatriot Sinotrans&CSC had been set up and named China VLCC. The JV is designed to own a total of $1.1Bn in assets including 19 VLCCs, a statement of CMES said. CMES owns 51%
'K' Line orders more ultra-large boxships Japan's third biggest shipping company Kawasaki Kisen Kaisha ('K' Line) has ordered another five 14,000teu ultra-large container ships from Imabari Shipbuilding. The five ships will be delivered during the spring/summer of 2018. The latest order takes to 10 the total number of such ships the company
China tightens port inspections to curb Ebola All Chinese ports of entry will implement stricter quarantine measures to combat Ebola, which has been listed as a 'quarantinable' disease, said the National Health and Family Planning Commission (NHFPC) in a statement published on Friday. People, vehicles, goods and mail from infected areas will be
Wärtsilä wins key two-stroke LNG order Wärtsilä today announced "a milestone order" to supply two-stroke dual-fuel engines for two new 180,000m3 LNG carriers. The vessels - being built by Samsung Heavy Industries in Korea under a collaboration between SK Shipping and Marubeni - will each be powered by twin six-cylinder Wärtsilä X62DF
SSC purchases new car carrier at $80M Singapore-listed shipping company, Singapore Shipping Corporation (SSC), has bought a newbuild Pure Car Truck Carrier (PCTC) for $80M. Upon delivery, the PCTC is expected to be deployed on a long-term charter to a "blue-chip shipping major", according to SSC. The purchase price was arrived at on a
Cass Freight Index shows early signs of fall peak Freight shipments rose 2.3 percent in August from July, according to the Cass Freight Index, buoyed by increased U.S. manufacturing and the tail end of the peak season for containerized imports. The August increase reversed a seasonal 3.9 percent dip in July shipment volumes and may signal that intermodal rail and...
Bigger ships, service delays test US intermodal sector The U.S. intermodal sector has experienced significant growing pains, ranging from more concentrated discharge of import cargo at marine terminals to a deterioration in rail service. The inability of motor carriers to attract enough drivers to handle growth in demand also puts pressure on the so-called first and last miles...
Arizona inland port on track for more capacity, less congestion The port of Tucson, Arizona, will soon gain more capacity and have less traffic congestion, thanks to a expansion project aided by $5 million in federal funding. The money - awarded by the U.S. Department of Transportation to the Pima County last year - will help fund a $13 million project to...
Port of Virginia snags $15 million grant for terminal gates The Virginia Port Authority was awarded a $15 million TIGER grant that will pay nearly half the $31 million cost of a new intermodal gate complex at Norfolk International Terminals. The port authority plans to replace the existing truck gates on the northside portion of NIT with a new 22-lane semi-automated...
Canadian truckers consolidate as economy improves, trade grows Canada's trucking industry is consolidating from the top down, with the largest less-than-truckload players buying smaller competitors to gain territory and build density as the Canadian economy grows. Manitoulin Transport made its second acquisition within three months this week, purchasing the LTL and truckload operations of Westcan Freight Systems in Edmonton,...
Pressure on railroads to deliver grain builds with Obama briefed on delays Political pressure on the rail industry to move grain exports faster continues to build with U.S. Agriculture Secretary Tom Vilsack having shared his concerns with President Obama. In a meeting yesterday with Obama and Vice President Joe Biden, Vilsack said he is worried that there is not enough rail capacity...
Thailand moves forward on building port to open up trade to its west Thailand is moving forward on building a deep-sea port aimed at opening new avenues of trade after the country's junta approved a preliminary plan for construction. The planned port in Pak Bara - on Thailand's west coast near its southern border with Malaysia - could make way for enhanced trade with...
Port refinancing, sales spurred by low interest rates, Drewry says Investors are scrambling to put together deals for acquisition and financing of port assets before U.S. interest rates rise from current rock-bottom levels, according to Drewry Maritime Advisors. "We have already noticed this trend within our own portfolio of consulting projects," said Tim Power, director of Drewry Maritime Advisors. "Over 70...
US retailers expect imports to slow slightly in September U.S containerized imports in September will be strong but won't match the intensity seen in August, as shippers brought in the majority of back-to-school and holiday merchandise last month, according to the newest forecast from Global Port Tracker. Import volumes topped 1.53 million TEUs in August, and Port Tracker expects 1.47 million...
Brazil needs to spend $447B on ports, study finds Brazil needs to spend almost Reias1trillion (US$447.3BN) to eliminate its many transport bottlenecks, more than double most of the previous highest estimates, according to a new study. Confederation for National Transport researchers concluded that the most money, Reais448.83Bn would need to be spent on the rail sector, followed by roads, Reais361.68Bn,...
Maersk CEO says shippers won't pay for faster service Beneficial cargo owners won't pay much of a premium for faster service or other ways carriers might be able to differentiate their ocean container services, Maersk Line CEO Soren Skou said. "Differentiation in the physical aspect of the service we provide is going to be harder and harder, as carriers join...
Indian feeder service launched between Goa and Nhava Sheva Shreyas Shipping and Logistics has expanded its coastal service network in India by launching a dedicated service between Mormugao Port (Goa) and Jawaharlal Nehru Port (Nhava Sheva), the country's busiest container gateway. "This is the first time a shuttle feeder service has been made available exclusively for the Goa trade. Unlike...
Maersk keeps north-south trades expansion plan close to chest Maersk Line has a clearly defined strategy for expansion in global trades, but is being very cautious about not disclosing it. "We have a route-specific strategy for growth," Maersk Line CEO Soren Skou told JOC.com in an interview. "I'm not keen to share it, but clearly we're trying to optimize our...
Hub switches to company drivers in California, citing 'legal climate' Hub Group Trucking is converting its owner-operator drivers into company employees for its California drayage operations, citing increasing threats of litigation over alleged misclassification of drivers' employment status. "It appears that the legal climate in California is becoming unfavorable to the common trucking industry practice of using independent truck drivers," Dan...
Port of Charleston drayage drivers see more congestion ahead With turn times of 30 to 45 minutes, the Port of Charleston is a model for the efficient handling of drayage trucks, but that doesn't mean the South Carolina port is paradise for harbor truckers. "Our issue is not at the gates. The problem is infrastructure," Pat Barber, president and CEO...
'Ocean Three' Alliance formed by CMA CGM, China Shipping, UASC CMA CGM, China Shipping Container Lines and United Arab Shipping Co. today ended weeks of feverish speculation by unveiling the "Ocean Three" Alliance that will operate some of the world's biggest container vessels on the major east-west liner trade routes. CMA CGM had been expected to team up with rival carriers...
DHT preps offerings DHT Holdings will issue a combination of shares and bonds to fund its takeover of Samco Shipholding.
DHT inks Samco takeover DHT Holdings has made the long-awaited announcement that it is taking over Singapore's Samco Shipholding.
Go green for loans German banker Aida Welker says cash is available for eco-ship newbuildings because of the low credit risk they pose to lenders.
Meet the new model Finnish designer Wartsila has claimed a 12% improvement in fuel efficiency from its redesigned chemical and products tanker SK 5054 Mk II.
ECO gets bigger at Acu Edison Chouest Offshore (ECO) has struck a deal with Brazil's Prumo Logistica to expand its footprint at the port of Acu and to jointly study a potential repair yard.
Brazil preps cabotage booster Brazil's top shipping official is proposing amendments to the country's cabotage rules to boost investment in the domestic shipping trades.
OCS picks Oman Drydock Oman-based shipowner drydocks one of its vessels at Oman Drydock's yard.
Big guns into Basra VLCCs owned by Evangelos Marinakis and John Fredriksen have been picked up by Russia's Lukoil to carry crude out of Iraq.
DNB sees IPO revival DNB investment banker Dag Klaveness says shipping's rush to the capital markets is set to revive with companies seeking to build mass through mergers before floating.
ECA chaos looms Europe is facing chaos as it tries to police new rules on greener fuel for ships from next January, according to a leading Baltic shipping executive.
Capes at five-month high Chinese hunger for iron ore has lifted capesize rates to a five-month high.
Tell us the truth US Coast Guard chief urges owners to confess green fuel non-compliance rather than risk later discovery.
Euronav edges up on US plan Euronav shares climbed gently this morning on the Euronext Brussels after its long-awaited move for a joint listing in the US took shape.
Ocean3 instead of P3 France's CMA CGM has rapidly proceeded to a new partnership with major shipping players after its planned alliance with Maersk and MSC failed to materialise in June.
Oceanteam takes half Offshore shipowner Oceanteam has secured a 50% stake in a new offshore support vessel (OSV) owned by Singapore-listed Pacific Radiance.
Golar gets backing Equity analysts have rallied behind Golar LNG following news John Fredriksen is selling much of his interest in the company.
Alfa Laval's super-saver? Engineering group Alfa Laval is claiming its new scrubbing system can knock $300 per ton off bunker bills, compared to low-sulphur fuel.
GFI a $675m target Derivatives broker GFI Group has received a $675m takeover offer from rival BGC Partners.
Greece shreds NEL licence Greece's shipping ministry said on Tuesday it has barred Maritime Company of Lesvos (NEL Lines) and its subsidiary Sea Link Ferries from running two subsidised lines in the Northern Aegean.
K Line doubles ULCV tally K Line has returned to compatriot Imabari Shipbuilding for another five 14,000-teu containership newbuildings.
Swiber goes for dim sum Swiber Holdings has raised around CNY 450m ($73.3m) from a so called 'dim sum' bond issue.
S.C. to raise fees, seek investors to fund port expansion The port last month reported an operating profit of $14.3 million for fiscal year 2014, ended June 30 - almost 21 percent above budget estimates. Operating revenue was $164.1 million, up almost 17 percent from the previous year.
Controlled Atmosphere containers could boost trade of mangos Maersk Container Industry said a recent test in Ivory Coast showed West Africa's mango trade can be extended by the special containers that place the fruit in hibernation by controlling oxygen and carbon dioxide levels.
Senators push bill to streamline STB "While the STB has made good faith efforts to address concerns of freight shippers and railroads, the current inefficiencies in the STB's operations are symptomatic of the need for common-sense reform," John Thune, R-S.D., said.
Airport group rolls out CO2 accreditation service
Domestic air carries see cargo rise in August
Solid waste to jet fuel
Retailers continue heavy imports Retailers concerned about the lack of a West Coast longshoremen's contract will continue to bring merchandise into the country at above-average levels this month, but volume will drop from the record set in August.
U.S. interest rates to drive port deals over next 12 months
'K' Line adds five more ultra-large containerships
CMA CGM, United Arab and China Shipping form global alliance CMA CGM said it has signed agreements to enter into an container shipping alliance with China Shipping Container Lines (CSCL) and United Arab Shipping Company (UASC).
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