Maersk is mystery seller behind latest Euronav VLCC purchase Maersk Tankers buys four VLCCs that it bareboat charters, then sells them to Euronav
Baltic Exchange appoints new chairman China Navigation's Guy Campbell replaces Quentin Soanes
European shippers concerned over 2M Asia-Europe marketshare ESC also calls for monitoring programme for proposed new alliance
Shippers call for 'unreliable' shipping line service levels to improve Vessel-sharing agreements such as recently announced 2M could address shipper issues
Shipping losses hit DNB share price Shipping portfolio down by over a third, Norwegian bank admits
Lloyd's Register helps UK port become LNG bunkering hub Classification society promotes safe LNG bunkering
Maasvlakte2 legal dispute reaches crucial stage Judge given until September to assess ECT lawsuit
Teekay's $2.1bn order for six LNG ships 'solidifies' its role in Yamal project, says Evensen US-listed owner paying around $350m for each newbuilding
Iranian tanker sanctions remain despite EU court annulment NITC restrictions stay in place pending possible appeal, lawyer confirms
SHI wins $441m order for three tankers South Korean yard to build high-specification ships at $147m apiece for European company
Zim golden share saga takes fresh twist Israel's government appeals against court ruling on the future of its stake in the line
IRISL anticipates end of sanctions on Iranian shipping Issue set to be raised at Vienna talks
Brussels launches investigation into Dutch port tax regime France, Belgium and Germany also informed of concerns over port taxes
Maersk and MSC to be sole partners in east-west trades All other co-operative arrangements will end, says Maersk's Søren Skou, who puts overall 2M market share at below 30%
Thumbs up for 2M from Macquarie Bank says planned Maersk-MSC tie-up is best case alternative to P3
Three subsidiaries of Chinese state carriers head back into the black CMES, Cosco Shipping and CSC Phoenix expect to report net profits for January-June
VLCC earnings climb steadily, at last After two months in the doldrums, earnings are coming back
US Department of Energy downgrades Iraqi crude production Violence has introduced 'significant uncertainty into Iraqi oil outlook' says US
Genco emerges from bankruptcy Peter Georgiopoulos-chaired Genco has successfully exited Chapter 11 bankruptcy protection, a newly filed court document confirms. "On July 9, the effective date of the first amended prepack plan occurred and the plan was substantially consummated," wrote Genco's counsel. Genco announced the judge's
US anticipates record box volume Hedging by retailers against supply chain disruptions is causing a surge of US container imports, a shipper group has revealed. The National Retail Federation (NRF) on 9 July said it expects import box volume at major American container ports to hit 1.5M teu in July - the highest monthly tally in
European Commision launches port tax probe The European Commission has opened a series of investigations into fiscal practices at European Union ports. The commission's competition directorate has started an in-depth investigation into corporate tax exemptions at the Dutch ports of Rotterdam, Amsterdam, Zeeland, Groningen, and Moerdijk but
ExxonMobil debuts ECA fuel ExxonMobil Marine Fuels & Lubricants has unveiled a new marine fuel category to ease compliance with the 0.1% sulphur cap within Emission Control Areas (ECAs) starting 1 January 2015. ExxonMobil Premium Heavy Distillate Marine ECA 50 (HDME 50) has been formulated to offer the low sulphur content
Samsung wins high-spec shuttle tankers South Korean shipbuilder Samsung Heavy Industries (SHI) has secured an order for three high-specification icebreaking shuttle tankers from an undisclosed European owner. The order is worth KRW 446Bn ($440M). Sources indicate that the three vessels are likely to be slightly larger than the 72,700dwt
French ferry workers suspend strike A strike by seafarers at French Mediterranean ferry company SNCM has been 'suspended'. Members of the unions involved voted to end the 17-day-old strike after winning an assurance that no attempt would be made to put the struggling company under court administration before the end of October. Union
COSCON to close eight US offices Cosco Container Lines (COSCON) Americas is to close most of its regional offices in the United States as it centralises its North American operations in 2015. The carrier will close offices in Boston, Charleston, Chicago, Henderson, New York, Norfolk, San Francisco and Seattle, and all business will
Ezra to expand offshore support business Singapore-listed offshore service provider, Ezra Holdings (Ezra) has plans to consolidate its offshore support services division, EMAS Marine, into its associated company, EOC, which is listed on the Oslo Bors, Norway. Upon completion of the transaction, the enlarged EOC group will be one of the
Yinson receives offer from BW Offshore Malaysia-listed floating production unit player, Yinson Holdings has received an offer from BW Offshore to either sell down or increase its stake in the Petroleo Nautipa FPSO, currently in Nigerian waters. BW Offshore had proposed to reach a mutual agreement over the eventual 100% ownership of the
Insight: German cruise ship showered with debris from Hamas rocket attack On 7 July, the German 69,000GT cruise ship AIDAdiva was hit by debris from a Hamas rocket which was intercepted by an Israeli 'Iron Dome' missile defence battery as it left the port of Ashod, a mere 29km from the Gaza strip. The debris did not cause any damage and was removed by the crew
Yamal LNG orders augur well for DSME Winning 10 LNG carriers for the Yamal LNG project bodes well for Daewoo Shipbuilding & Marine Engineering's (DSME's) long-term earnings, said a shipbuilding analyst today. DSME yesterday clinched nine of the orders from Teekay, Mitsui OSK Lines and China Shipping LNG, in addition to an earlier order
Maersk Line seals 10-year VSA with MSC Maersk Line has entered a 10-year vessel sharing agreement (VSA) with Mediterranean Shipping Company (MSC) on the Asia-Europe, Transatlantic and Transpacific trades. This comes after Chinese authorities rejected the proposed P3 Network last month. The VSA will be referred to as 2M and it differs
COSCOL returns to profit COSCO Shipping (COSCOL), the project cargo arm of China COSCO Group, has returned to profits of CNY11.4M ($1.9M) in the first half of 2014. Revenues fell 1.6% year-on-year to CNY3.6Bn during the period, a flash financial report of COSCOL stated today. Excluding on-off items, however, COSCL still
Dawei port developer silent on holding company Investors in Myanmar's Dawei port development have sidestepped a suggestion the mega-port project needs a holding company to spread the risk as the venture inches on. Dawei is currently being developed by the Myanmar and Thai governments who have established a special purpose vehicle (SPV) company
Zhonggu Shipping gets financing for box ships Shanghai Guojin Leasing and Shanghai-based Zhonggu Shipping Tuesday inked an agreement on financing two of Zhonggu Shipping's 2,500teu box ships. Zhonggu has placed orders for 10 2,500teu eco box ships at Zhoushan Wuzhou Shipbuilding & Repairing in September, 2013, which are scheduled to be
ClassNK, Transas to collaborate on simulator standards Japanese classification society ClassNK and Russia-based Transas Marine signed a memorandum of understanding on 8 July to jointly develop new standards, rules, procedures and guidelines related to classification of maritime simulators. New regulatory requirements will need fine-tuning of both
Panamax rates pick up Panamax bulker rates have finally found a floor as owners' decision to idle some ships created upward pressure on the freight market. As of yesterday, daily timecharter rates averaged $5,677, compared to $3,890 a week ago. Brokers told IHS Maritime that more coal exports from Indonesia to India,
Savannah port pilots change course on restrictions Ship pilots at the Port of Savannah, who said earlier this week that vessels wider than 142 feet must transit the Savannah River during flood tide, now say the ships may move at other times if they are assisted by two tractor tugs. The Savannah Pilots Association said it revised its rules...
Tacoma wins back long-time Seattle customer The Port of Tacoma sealed a new deal with with Washington-based carrier Westwood Shipping Lines for the line to move its Puget Sound port of call back to Tacoma. The announcement, reported by The News Tribune of Tacoma, Washington, means Westwood will return to the port after an absence of 31...
Teamsters take their case to city of LA - and a shipper The Teamsters union today promised to turn up the heat on trucking companies and marine terminals in Los Angeles-Long Beach harbor, although their efforts did not affect cargo-handling and gate operations in the nation's largest port complex. Justice for Port Truckers, which is affiliated with the Teamsters, continued to picket the...
Taking Stock of "2M" [Infographic] The world's two biggest container lines today announced plans to launch a 10-year vessel-sharing agreement, dubbed 2M, to cover more ports with direct services and improve efficiency through better utilization of vessel capacity and economies of scale. If approved by regulators, Maersk Line and Mediterranean Shipping Co. will deploy 185 vessels...
Truckers criticize NY-NJ task force report Two organizations representing New York-New Jersey port drayage companies are complaining that truckers' concerns got short shrift in an industry-side task force's recommendations of ways to make the port run more smoothly. The New Jersey Motor Truck Association and the Association of Bi-State Motor Carriers issued separate statements criticizing several of...
Trucks get access to Chicago inland port shortcut through fall 2015 A shortcut to a major intermodal complex in the Chicago area should be accessible to truckers until at least the autumn of 2015 now that a trial concerning a repealed ban isn't expected until then. That's a major relief to trucking companies and the shippers they serve, many of them grain...
Indian container volume rose in April-June quarter The volume of containers shipped via major ports in India climbed nearly 4 percent year-over-year from April to June, the first quarter of fiscal year 2014-15, showing signs of a slight turnaround in global trade. Total volume at the country's 12 state-owned gateway hubs reached 1.94 million 20-foot-equivalent units, up from...
Lower ship slot costs are pulling down rates, Drewry says The unit cost advantage container carriers are gaining by operating mega-ships is having the effect of dragging down freight rates at a time when all but the top lines are struggling to remain profitable. Martin Dixon, Drewry's director and head of research products, said freight rate development is being driven by...
Retailers expect continued growth in containerized imports With West Coast longshore contract negotiations still underway, U.S. retailers expect to bring in record levels of merchandise this month to protect against supply chain disruptions, pushing up container import projections for the first half of the year. Import volume at major U.S. container ports is forecast to total 1.5 million...
Lufthansa Cargo cuts capacity as volume slumps Lufthansa Cargo is cutting freighter capacity in response to continued weakness in global cargo demand that saw its volume slump by 8 percent year-on-year in June with no signs of a pickup in sight. The German all-cargo airline carried 137,000 tons of freight in June, taking the first-half total to 807,000...
Djibouti pulls DP World container terminal concession Djibouti has annulled DP World's operating concession at the Doraleh Container Terminal and has begun arbitration proceedings over alleged corruption. The government of the Horn of Africa nation said it rescinded the agreement after an investigation indicated the deal signed with DP World unfairly favored the Dubai port operator. The government will...
Chilean port workers strike disrupts container cargo Port workers in Chile have been on strike since July 8, according to maritime service provider Inchcape Shipping Services. The strike, organized by Union Portuaria, is primarily disrupting container and dry cargoes at multiple ports, including Iquique, Tocopilla, Caldera, Huasco, San Antonio, Lirquen, San Vincente, Coronel and Puerto Montt, according to...
Manila gives carriers 90 percent off to call elsewhere The Philippine government will give vessels that call at the nearby port of Batangas a 90 percent discount on docking fees over weekends from August in a desperate bid to clear the country's chronically clogged terminals. The Philippine Ports Authority (PPA), the Bureau of Customs (BoC), the Department of Trade and...
Maersk and MSC to attempt new east-west alliance Maersk Line and Mediterranean Shipping Co. are planning a huge 10-year vessel-sharing agreement early next year in the Asia-Europe, trans-Pacific and trans-Atlantic trades as the carriers strive to better utilize capacity in the wake of their failed bid to launch the P3 Network. The VSA, if it's approved by regulators, will...
North American freight volumes hit pre-recession high Cass Freight Index through June 2014 Full-size image Five straight months of growth have pushed North American freight shipments to a height not seen since the beginning of the recession, according to the Cass Freight Index. Cass reported its volume index rose yet again in June, coming in at 1.2, which is 2.4...
New kid on the block A commercial lender headquartered in New York is mounting a campaign to break into the maritime shipping industry.
Loan losses rise DNB turned in a second-quarter profit Thursday but the gain was overshadowed by impairments and the lacklustre performance of its shipping portfolio.
Chevron takes two A leading US oil major appears to have hired a pair of suezmax tankers to transport crude from Russia to the Far East.
Kerr-Dineen returns to Baltic board The prospect of change at the Baltic Exchange has received a boost after shareholders backed its former chairman Peter Kerr-Dineen's bid for re-election to the board.
Maersk Tankers unmasked Maersk Tankers (Maersk) has emerged as the counterparty behind the recent sale of four VLCCs to Euronav in a transaction worth $342m.
Triyards lands order A Singaporean shipbuilding conglomerate has secured contracts to construct a pair of liftboats.
All eyes on China Chinese ship finance has "snowballed" in recent months as it supports its shipyard sector, according to Singapore lawyer Simon Spells.
Chowgule ups profit India's Chowgule Steamship has begun its financial year with a stronger showing despite lower revenue.
SNCM blockade ending? French unions have agreed to call off a strike at Corsican ferry company SNCM in a row over its future survival.
One killed in clash A Swedish fisherman has died after his boat was in collision with a Latvian general cargoship.
Samsung books trio Samsung Heavy Industries of Korea has announced an order for what appears to be three very expensive new tankers for an unnamed European owner.
CMES heading for profit China Merchants Energy Shipping (CMES) is expecting to return to profit for the first half of 2014.
Gdansk threat fades? The threat of bankruptcy hanging over Poland's Gdansk Shipyard looks to have receded.
Ugland offloads barges Norway's JJ Ugland has sold off two of its older barges.
Nobu opposes merger Nobu Su has said he objects to the proposed $1bn merger deal between Star Bulk Carriers Corp and Oceanbulk.
After P3...2M Maersk Line and MSC are teaming up on key trade routes through a vessel sharing agreement (VSA), less than a month after Chinese authorities killed their P3 Network alliance with CMA CGM.
EOC swallows EMAS Ezra Holdings is to inject its offshore support services division, EMAS Marine, into its Oslo-listed associated company EOC Ltd.
CCL stays at New Orleans Carnival Cruise Lines signed a new agreement with the Port of New Orleans that will see it continue to use the port until 2019.
Maersk exits BWTS firm AP Moller Maersk has sold its stake in ballast water treatment system (BWTS) company Desmi Ocean Guard.
Genco reborn One of the darkest chapters in the history of Genco Shipping & Trading appears to be drawing to a close.
Striking drivers promise 'widespread chaos' at LA/Long Beach ports "Long truck lines are expected at the ports ... as drivers and their allies picket Green Fleet Systems, Total Transportation Services, Inc., and Pacific 9 Transportation trucks," Justice for Port Truck Drivers said.
ILWU, grain companies meet with federal mediators The companies are seeking a contract with terms similar to those the ILWU signed with the new Export Grain Terminal that opened in Longview, Wash., in 2012.
United's June cargo activity tops Big 3 domestic carriers
U.S. steel exports dip in May
Great Lakes rising... but not yet enough U.S.-flag Great Lakes carriers are grateful for the increased water levels in the lakes, however it has not yet resulted in full loads of iron ore, coal, limestone, cement and other cargoes.
Maersk, MSC enter 10-year VSA The vessel-sharing agreement, called 2M, replaces all existing VSAs and slot purchase agreements that the two liner carriers had with each other in these trades. Maersk explained the 2M VSA differs from the earlier proposed P3 Alliance.
Chassis Finder releases Android, iPhone apps
Ex-Im Bank president touts U.S. exports in China
Senate confirms Vetter as chief ag trade negotiator
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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