TT Club in healthy place, says Fenton Gross written premiums top $120m in first nine months
Looking ahead to the next 50 years of LNG There are bright spot post 2016, but is LNG shipping is still an expensive choice for the energy industry
New yearly low for Asia-Europe rates Box prices halve in just two months, October GRIs look set to fail
Five things no one tells you about being a shipping chief executive Handy pointers for those eyeing the top job
Avance Gas unsure of 'expensive' Panama Canal for VLGCs Canal in sharp focus as US LPG exports climb
Aronnax@DMD: Choose your engine carefully Free content: Recent events are putting the spotlight on the engine makers
OOCL announces transatlantic low-sulphur fuel charge Hong Kong carrier reveals how much it plans to make customers pay to cover tougher environmental regulations
Shippers urge global carbon monitoring system for shipping Global Shippers' Forum calls on the IMO to makes progress on data collection as European Commission prepares its own proposals
Flagging capesizes in need of Atlantic revival Final quarter rally looks problematic, as shipowners bemoan lack of cargo out of Brazil and the Atlantic
Crowley and Seaboard Marine extend vessel-sharing agreement New arrangement to start mid-November and cover Panama, Costa Rica and Dominican Republic services
Top US ports risk permanent cargo loss without new labour contract Retailers puts pressure on ILWU and PMA to quickly conclude negotiations
Intercargo appoints new secretary-general Former ICS head of regulatory affairs David Tongue takes post with immediate effect
Week on Wall Street | October 10 Earnings estimates lowered for Navios Maritime despite the bulk company's cast-iron beliefs
Hempel announces Hempaguard coating at lower temperatures Hempel Group announced yesterday at the Danish Maritime Fair that Hempaguard, its 'Actigard'-based antifouling coating, can now be applied to hulls at temperatures as low as 0'C. Previously, for best results, the coating was applied at temperatures over 10°C, said Claes Skat-Rørdam, marketing
NYK to start inland transportation service in Myanmar Japanese shipping company Nippon Yusen Kabushiki Kaisha (NYK) will start an inland transportation service for finished automobiles in Myanmar on 14 October 2014. The automobile market in Myanmar, traditionally dominated by used-car imports from Japan, has changed dramatically in 2014 after the rapid
Port issues to drive record US box imports Port congestion and concerns over dockworker contract negotiations will lead to a monthly record for US container imports, a retail group predicts. In its latest monthly forecast released 10 October, the National Retail Federation (NRF) said a final surge of imports by retailers filling inventory
Australia releases ship management plan for Great Barrier Reef Australia's North East Shipping Management Plan, released this week, is set to strengthen regulations governing its multibillion dollar coal and liquid bulk shipments out through the Great Barrier Reef. Shipping on the reef is already provided with electronic navigation charts, given mandatory
Bawat ballast water system approved Danish company Bawat announced at the Danish Maritime Fair that its ballast water treatment system has successfully completed all IMO required tests and that it has been verified by DNV GL. A release of the system is planned imminently. Bawat's system differs from those which use in line systems
Zhejiang Ouhua secures eight feeder ships Chinese shipyard Zhejiang Ouhua Shipbuilding has secured an order for up to eight feeder ships from Hong Kong-based Mandarin Shipping founded by former shipbroker Tim Huxley. Sources indicate that a firm order was placed some time ago for six 1,700teu vessels, but this has only recently been
First Valemax since 2013 to call at Chinese port Valemax Shandong Da Ren entered the Chinese port of Dongjiakou, Qingdao last week, making it the first such vessel to dock in China since April 2013, IHS Maritime Sea-web.com's AISLive has indicated. The 402,285dwt bulk carrier, formerly known as Vale Malaysia, entered Dongjiakou Port, which is
Tanker trade told to collaborate on risk Geopolitical risk for the tanker trade must be tackled "collectively", a speaker told the Capital Link Forum in Athens today. Richard Paniguian, non-executive director of Greece's Tsakos Energy Navigation, told the conference that no single agency is large enough to take on challenges such as piracy
Franbo Lines goes public in Taipei Franbo Lines, a Kaohsiung-based bulk carrier, yesterday got listed in the Taipei Stock Exchange, closing at TWD$13.15 ($0.43) per share, up 6.1% from its listing price of TWD$13. Established in 1998, Franbo Lines now owns a fleet of seven vessels; two of which it operates, four with long-term
Australian coal takes another hit Shockwaves have gone through the Australian coal industry today in reaction to China's decision to impose new tariffs just as both countries were finalising a free trade agreement. Only a few weeks ago, Beijing announced strict caps on ash and sulphur content, which come into effect in the new
US retailers warn of peak season risk Containers full of Christmas merchandise piling up at US west coast ports could be further delayed without a prompt end to dockworker contract negotiations, a US importer group has warned. In a 9 October letter to the heads of the Pacific Maritime Association (PMA), which represents west coast
South Korean shipbuilding shares oversold South Korean shipbuilding shares could be oversold as the valuation hovers near a historic low, said Samsung Securities in a research note. These shipbuilders include Hyundai HI (HHI), Samsung HI (SHI), Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Mipo Dockyard (HMD) and Hanjin HI &
Swissco seals $17.3M chartering contracts Singapore-listed integrated marine services provider, Swissco Holdings has secured three chartering contracts with options worth $17.3M for offshore support vessels (OSV). The chartering contracts comprise of two new workboats and one anchor handling tug supply vessel, and will be deployed in the
Listed dry bulker owners 'face uncertain future' All listed owners of dry bulk carriers are unlikely to survive, but this should provide an opportunity for consolidation in the sector, a senior shipbroker said. Particularly in the Capesize class, personal relationships between the owner and customers are very important, but not all owners of such
Knowledge key in brokers' future success Shipbrokers will have a bright future provided that they move on with times and focus on knowledge rather than information in relationships with customers, a senior shipbroker said. The Internet has changed the landscape of shipbroking as information is now widely available to everyone and a lot of
Six more Lanhai bulkers for auction A total of six additional bulk carriers owned by Guangdong Lanhai Shipping, a Chinese bulker operator, will be put on auction block to repay bank loans. The vessels are identified as five Supramaxes of Lan Hai Chuang Ye, Lan Hai Tuo Zhan, Lan Hai Li Liang, Lan Hai Fen Jin and Lan Hai Fa Zhan,
Danish shipowners cut CO2 emissions by 50% The global financial crisis and the rise in oil prices caused Danish shipowners to examine ways to reduce fuel consumption. From 2008-13, Danish shipowners have reduced CO2 emissions by 50%, said Maria Bruun Skipper, senior adviser to the Danish Shipowners' Association. Since then, Danish
Wallem-Nanjing Tankers JV called off Hong Kong-based ship management group Wallem has ended its joint venture with financially troubled Chinese tanker operator Nanjing Tanker Corporation, IHS Maritime has learnt. Speaking to IHS Maritime during Danish Maritime Days in Copenhagen, Wallem MD Simon Doughty confirmed the breakup of the
Ezra secures triple signings with Noble Energy Singapore-listed offshore solution provider, Ezra Holdings, has secured three contracts with Noble Energy valued collectively at over $300M. The contracts are signed by EMAS AMC, Ezra's Subsea Service division, and the project works involved engineering, procurement, construction and installation
China to reinstate coal tariff China, the largest coal importer in the world, announced on Thursday to end zero duty on five coal products by 15 October. China's tariff committee decided to reintroduce the most-favoured nation tariffs, varying from 3% to 6%. The tariffs for anthracite and coking coal will be set at 3%, bitumite
Keppel unhindered by volatile oil prices Singapore-listed offshore services provider, Keppel Corporation's operational performance shows relatively low correlation with oil prices, according to Lee Yue Jer, an analyst from DMG & Partners Securities. Lee felt that the volatile oil prices did not stop Keppel from clinching new orders for
STB pressed to accelerate US freight rail reforms In the latest step toward possible regulatory action, three U.S. senators have called on the U.S. Surface Transportation Board to implement freight rail reforms as quickly as possible in order to increase rail competition and address shippers' concerns. In a letter to the regulatory agency, U.S. Sens. Tammy Baldwin, D-Wis.; Al Franken, D-Minn.;...
Long Beach chassis lessors to beef up fleets Two chassis-leasing companies, DCLI and TRAC Intermodal, will add 3,000 chassis to their Southern California fleets in response to a request by the Port of Long Beach that the private sector step up its efforts to help relieve the growing chassis problem in the harbor. Chassis shortages and dislocations are believed...
Brazil's TCP box terminal set to invest $453 million on expansion Terminal de Containeres do Paranagua is the latest container terminal in Brazil set to be granted an extension to its long concession, and has therefore declared its intention to invest another 1.1 billion reasis (US$452.9 million) in the facility. First Antaq (the National Agency for Waterborne Transport) granted a 25-year extension...
Investment firm BB&T notes upturn in air cargo sector The air cargo market is improving based on evidence from a number of fronts - a situation that "we have not been able to talk about in years," the investment firm BB&T said a report. With global cargo traffic improving 4.4 percent year-over-year in the first seven months of 2014, "the...
Severe cyclone heads for Bay of Bengal ports Photo courtesy of NASAA devastating storm in the Bay of Bengal could impact ports in India and Sri Lanka. Cyclone Hudhud, a storm with wind speeds that could reach up to 90 miles per hour, is taking up residence in the Bay of Bengal. India's weather office issued a squall warning...
India's ports see 6.5 percent growth in fiscal first-half container traffic State-owned major ports in India recorded healthy levels of container throughput growth in the first half of the fiscal year, which ends March 31, 2015, according to preliminary figures released by the Indian Ports Association. April to September 2014 container volumes expanded 6.5 percent year-over-year to 4 million 20-foot-equivalent units, up...
Nile River navigational efforts hit roadblocks Efforts to convert the world's longest river into a shipping lane for landlocked sub-Saharan African countries are meeting with hurdles two years after the concept was introduced. According to the AL Monitor, Egypt is fronting an effort to convert the Nile River into a shipping lane, which would connect Lake Victoria...
FMC publishes details of new OTI rules The Federal Maritime Commission has posted details of its proposed changes in rules for licensing, financial responsibility and duties of ocean transportation intermediaries. The commission backed off from its original plan to raise financial responsibility levels for freight forwarders and licensed non-vessel-operating common carriers after OTIs complained the changes would unnecessarily...
2nd NJ Senate panel votes to leave Waterfront Commission A second New Jersey Senate committee has approved a bill to allow the state to withdraw from the Waterfront Commission of New York Harbor, despite warnings that the legislation would be struck down in court. Industry and union officials have accused the commission of slowing dockworker hiring at the East Coast's...
US import surge forecast through end of year The largest U.S. container ports are expected to see a final surge in imports, with shipments setting a monthly record in October, according to the monthly Global Port Tracker report by the National Retail Federation and Hackett Associates. "Increasing congestion at the nation's ports as well as the ongoing West Coast...
Ocean carrier rate revision roundup for Oct. 10 Multiple container lines have planned general rate increases in numerous trade lanes in October and November, although any gains achieved could be temporary as overcapacity and sluggish global demand continue. Asia-Europe Beginning Nov. 1, Hapag-Lloyd aims to boost rates on shipments from India's west coast to North Europe and the Mediterranean by...
DAT spot market truck rates rise as freight demand picks up Dry van rates inched up one cent to $2.03, according to DAT's weekly Trendlines. Full-size image The spot market for truck freight rebounded slightly in the first days of the fourth quarter, sending the DAT Solutions average dry van rate upward after two weeks of decline. The DAT national average spot rate for...
OOCL joins others in unveiling low sulfur trans-Atlantic surcharges OOCL has unveiled low sulfur surcharges of up to $110 per 20-foot container for Europe-North America voyages to cover the extra cost of burning cleaner fuels in 2015. The Hong Kong-based carrier said it will introduce a surcharge for all its BAF [bunker adjustment factor] Inclusive contracts from Jan. 1. All vessels...
US Gulf ports advancing projects to boost capacity As the Panama Canal marks its centennial this year, the Port of Houston is celebrating the 100th anniversary of the opening of the Houston Ship Channel. And with an eye toward the 2016 expansion of the Panama Canal, Houston and other Gulf of Mexico ports are investing to expand their capacity...
Uruguay's plan for port east of Montevideo riles Brazilian interests Three years ago, Uruguay President Jose Mujica had a dream. In fact, it was quite a big dream because it involved building a massive $1 billion port that would, he hoped, one day become the hub port for the River Plate region and southern Brazil. Mujica, who is now 79 and...
Lufthansa Cargo upbeat despite drop in September traffic Lufthansa Cargo's volume shrank 2.9 percent in September from a year ago, but the carrier cautiously anticipates a seasonal uptick in demand in the fourth quarter. The German all-cargo carrier transported 140,000 metric tons of freight in September for a nine-month total of 1.23 million metric tons, down 3.2 percent on...
Crowley, Seaboard form Dominican VSA Cowley Maritime and Seaboard Marine have formed a vessel sharing agreement for the Dominican Republic trade and have revised their existing VSA that serves Panama and Costa Rica. The new VSA, which commences mid-November, will provide customers of both companies with weekly service on a larger ship moving directly between Port...
Interest evaporates There appears to be very few buyers interested in bulkers despite an ongoing abundance of tonnage in the sale-and-purchase market, a leading brokerage told clients Friday.
DRYS faces uphill battle Wall Street is rife with rumours that DryShips is struggling to complete the final leg of crusade aimed at refinancing convertible notes that mature in December.
Evercore shifts gears A leading US investment bank has discontinued research coverage of the offshore market.
Navios readies MLP IPO Angeliki Frangou has emerged as the architect of a new MLP that is looking to launch an initial public offering (IPO) in New York.
All eyes on ExxonMobil ExxonMobil's US shipping division made waves this week amid speculation that it is getting ready to part ways with a pair of suezmax tankers.
Four for Nevsky Russia's Nevsky Shipyard has won a state tender to build four rescue tugs for domestic terminals.
The return of OSG Overseas Shipholding Group (OSG) hailed an important milestone in its rehabilitation by re-listing in New York two years after filing for bankruptcy.
Kurds load again Another Greek vessel has been added to the list of tankers having lifted Kurdish oil from the Turkish port of Ceyhan, as Iraq issued a ban order against three ships.
Franbo plots growth path Franbo Lines of Taiwan is planning to expand its fleet following the successful completion of its Taipei IPO.
Vinalines selling Restructured Vietnamese national shipowner Vinalines is offloading its stake in one of the country's banks.
Keep on cruising Poseidon Expeditions has said it will continue to run North Pole cruises on the Russian nuclear-powered icebreaker 50 Let Pobedy.
Bank takes another hit Norwegian lender Sparebanken Vest has revealed more loan losses for the third quarter.
Cargoship goes down Twelve crew have been taken from a general cargoship that sank after grounding outside the Romanian port of Sulina.
Fire not damaging Avance Gas today eased past third quarter profit forecasts and revealed a first VLGC newbuilding struck by fire will be only slightly delayed.
LNG carrier rescues three A Mitsui OSK Lines (MOL) LNG carrier has saved three fishermen after their boat sank off Indonesia.
Heung-A books trio South Korea's Heung-A Shipping has ordered three new containerships to upgrade its fleet.
The ties that bind We take a look at what was said in the market over the past week.
Owners share route Two US liner operators are teaming up in the Dominican Republic trade lane.
CMES scraps bulker China Merchants Energy Shipping (CMES) has sent another elderly bulker for demolition, the shipowner has confirmed.
Heavy lifter arrested Fairmount Marine has had one of its heavy lift vessels arrested in Singapore, according to court documents seen by TradeWinds.
Gas takes a tumble Shares in Golar LNG closed down nearly 12% in US trading last night as the LNG sector was sucked into the sell-off in US shipping stocks.
'I'm a believer' Private equity firms are looking for ways to penetrate the LNG sector but some of the most notable names in the space believe it would be a mistake for inexperienced players to take the plunge.
Angelicoussis unfazed John Angelicoussis does not appear to be fazed by the recent plot to attack compatriot Evangelos Marinakis.
Lukoil to offer new 'eco marine fuel' next year Up to 500,000 tonnes will be available.
WFS in court over insurance claim Company was duped and insurer is disputing the claim.
Bunkering vulnerable to cybercrime, says lawyer Sector experiencing more scams.
IBIA's quality control proposal to IMO facing resistance US response to industry papers show no appetite for making proposed control mechanisms mandatory.
Island Oil Ltd hires in Greece Bunker company has made a new addition to its sales team.
Bunker prices to remain 'stable', analyst predicts Higher fuel savings expected to outweigh impact of market imbalance.
'Sliding scale' low sulphur subsidies planned for Shenzhen Size of subsidy to depend on sulphur content in fuels used at berth; shore power will also be subsidised.
Semi-submersible detained in Singapore Vessel detained late on October 8.
Lukoil develops 'intelligent' lube delivery system Automated system able to provide appropriate mix and feed rate to marine engine.
LNG carriers to be powered by cargo onboard French cryogenic system opted for newbuildings.
Progress on Indian bunker port project Port gets government approval for development.
Titan Bermuda court case adjourned Hearing pushed back to end of the month.
DNV GL reiterates fuel changeover issues Warns against low flash point in low sulphur fuels.
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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