Shipping associations oppose pollution fund wind-up ICS, BIMCO and Intertanko want IOPC 1971 fund to stay in place
G6 Alliance combines Asia-east coast services for winter Move will reduce trade lane capacity by as much as 3.8%
View From The Bridge: Rafi Danieli The last few years have brought turmoil but the Israeli carrier has finished restructuring
Congested Long Beach to get chassis relief Local companies sign-up to purchase 3,000 more chassis
Hyundai Merchant Marine unveils terminal sale plan Trend for box lines to offload assets continues with HMM looking to raise $140m
Maohi sale highlights fall in MR product tanker values Fall in values as MR tankers disappoint in freight market
Sales dry up as demolition market feels the pressure Cheap imports of Chinese steel hit market already strained by volatile currencies and speculative rates
K+N volume growth leads market yet again Imports into North America and Europe boost carrier, but South America market still difficult
Avance Gas not worried about falling crude prices Cheaper propane should boost ship demand
How communications, not marketing, drives container sales Traditional tactics are less and less relevant in the digital age
EU sanctions on NITC lifted Brussels will not appeal court ruling against tanker operator
Unofficial lobbying for next IMO secretary-general has started Cyprus, Denmark, Panama and Mexico rumoured to be considering nominations to replace Sekimizu next year
Data Hub: Vessel sizes increase on the Asia-Africa trades Cascade effect sends panamax tonnage to West Africa ports
DryShips scraps public offering plans The issue of senior secured notes was billed as the last step towards solving DryShips' largest finance overhang
IMO member states set to battle with shipping over ballast and polar code issues Week-long MEPC hopes to find answers to some of the key issues affecting shipping
Vosta Bangladesh JV delivers 10 dredgers A joint venture between Dutch-German dredging specialist Vosta LMG and Karnafuly Shipyard in Bangladesh has delivered 10 more cutter suction dredgers (CSDs) to help Bangladesh combat flooding and improve and maintain its waterway navigation. Built at Karnafuly's Chittagong yard, the vessels bring
Japan donates dredger to Sri Lanka The Japan International Co-operation Agency (JICA) on 18 October will hand over to Sri Lanka the new self-propelled 300m3 grab hopper dredger Sayuru. Launched at Japan's Kegoya Dock in May, the vessel is being provided under the Japanese government's official development assistance programme.
South Korea coastguard kills Chinese fisherman South Korea's coastguard has arrested three Chinese fishermen and shot dead another while intercepting their vessel for alleged illegal fishing. Song Hou-mo, 45, was killed on 10 October. In a statement, the West Regional Headquarters Korea Coast Guard said the ship's captain was shot after the
OPDR launches Morocco-North Europe link German shortsea container carrier OPDR today announced the launch of a new weekly container service between Morocco and North Europe. Operated with three 700teu class ships, the loop will call at Agadir, Cadiz, Tilbury, and Rotterdam, where transhipment connections will be available for
SIPG eyes Yangshan port's first phase Shanghai-listed Shanghai International Port (Group) (SIPG), Shanghai's largest port operator, may take over the first phase of Yangshan Deep-Water Port, complementing the second and third phases it already owns. Shanghai Tongsheng Investment (Group) is the current owner of the port's first phase,
SHI may win FLSO order from Excelerate Energy Samsung HI (SHI) may win an order for the world's first floating liquefaction, storage and offloading (FLOS) unit from US-based Excelerate Energy. SHI said that the unit will be deployed in the 'Lavaca Bay' FLSO project of the US shale gas. The contract amount has not been revealed as the deal
SHI wins order for three LNG carriers Samsung HI (SHI) has won an order amounting to KRW664Bn ($621M) for three LNG carriers from an undisclosed Asian owner. SHI, the world's second-largest shipbuilder, said in a Korea Exchange filing that the ships will be delivered by the end of August 2018. According to SHI's press statement, the
Tianjin Port gets green light for expansion China's Tianjin Port was authorised by the state council to double its berths last week. As the largest port in North China and one of the largest in the world, the port was approved to expand its operational waters to 1,590km², extend the waterfront from 78.9km to 148km and increase the number of
China cargo ship crew saved from storm A total of 15 crew members on board a Chinese cargo vessel were rescued yesterday morning amid gales and powerful waves off Zhejiang province, China. The crew members were moved to rescue ship Dong Hai Jiu 111 just eight minutes before Run Wu 9 sank around 08.40 local time yesterday, the Donghai
HMM secures $140M from selling US terminals stake Hyundai Merchant Marine said today it would sell off its stake in two US terminals - CUT(California United Terminals) and WUT (Washington United Terminals) to US private equity firm Lindsay Goldberg at $140M. HMM told IHS Maritime that the portion of the stake to be sold is 49% each of CUT and WUT.
Seacontractors orders three Damen ships Seacontractors has become the launch customer for Damen's latest STu 3011, with an order for two of the 70-tonne bollard pull Stan Tugs, while also booking its ninth Shoalbuster from the builder. Damen will significantly customise the STu 3011s - Atlantis and Dian Kingdom - to enhance their
Vard to remain bearish due to low oil prices Singapore-listed offshore vessels shipbuilder Vard Holdings is likely to be affected by the bearish deepwater activity, according to an assessment from Lee Yue Jer, analyst from DMG & Partners Securities. Lee sets a target price of SGD0.80 ($0.62) per share while Vard's stocks are currently valued
Taiwan's largest research ship sinks, two dead Ocean Researcher V, Taiwan's largest maritime research vessel, was involved in an accident and sank Friday (10 October) night off the southwest coast of Taiwan. Of the 45 people on board, two died and 43 were rescued, including 25 sustaining injuries, according to local media. Hsu Shih-chieh,
Malaysia promotes shipping industry Malaysia is to promote its local shipping industry with a measure announced in the country's 2015 budget speech delivered on 10 October. "To assist owners of cargo ships with gross tonnage not exceeding 300 tonnes, the government will establish a Malaysia P&I [Protection & Indemnity] Club under
SembMarine secures $696M FPSO conversion deal Singapore-listed offshore services provider, Sembcorp Marine (SembMarine) has secured a $696M contract to convert a shuttle tanker into an FPSO for OOGTK Libra, a joint venture between Brazil's Odebrecht Oil & Gas and Teekay Offshore. The deal involves the conversion of Navion Norvegia into an
Zeeland publishes quay dredging tender As Zeeland expands its 300m offshore project cargo quay at Westhofkade BOW Terminal by 175m, the vital dredging tender has appeared on TenderNed. About 200,000m³ of material must be removed so vessels with a draught of up to 10.5m can moor at the new quay. "The tender opening will take place on 20
Schneider National raises driver pay up to 13 percent Schneider National is raising truck driver pay 8 to 13 percent, throwing its weight behind what's fast become a truckload sector-wide trend in the second half of 2014. The second-largest U.S. truckload carrier bumped up pay for its van truckload company drivers last week following pay increases for tank and dedicated...
Turkey to standardize customs procedures to expedite processing Turkey plans to standardize procedures at customs gates to speed up border transactions and unclog long truck lines, according to the Hürriyet Daily News. Customs and Trade Minister Nurettin Canikli has ordered ministry officials to prepare a project to renew all 17 of Turkey's customs gates as of next year, and renovate...
Court OKs APM Terminals' Costa Rica terminal accord APM Terminals' new Costa Rican container terminal cleared a major hurdle after the country's Supreme Court ratified a concession agreement between the terminal operator and the Costa Rican government. The 33-year concession agreement between the two parties was signed in 2011, but has been in court for nearly three years after...
RoadOne looks for right mix to keep drayage drivers Like many over-the-road trucking operators, RoadOne Intermodal Logistics is looking for the right formula to attract more truck drivers and keep them. However, in the drayage business that formula quickly becomes pretty complex, said Ken Kellaway, president and CEO. RoadOne's drivers are owner-operators, and unlike over-the-road truckload drivers they're not typically...
China Shipping partners enter $13 billion deal with bank A strategic agreement between China Shipping Group and the Industrial and Commercial Bank of China could help the company become more competitive in the container shipping market. China Shipping Group, which is comprised of China Shipping Development, China Shipping Container Lines and China Shipping Haisheng, will work with the ICBC on...
E-commerce growth reshapes traditional supply chains Shippers may have to start locating distribution centers closer to consumers, as growth in e-commerce is pressing retailers to deliver goods inexpensively and quickly, and challenging traditional logistics models. Since 2000, growth in e-commerce has been significant, with a 19 percent compound annual growth rate through 2013, according to data from...
Port delays driving dray drivers away, RoadOne says The shortage of truck drivers on U.S. highways is affecting drayage operations at port terminals and inland railheads, too. Frustrated by port congestion and chassis shortages, drayage drivers increasingly are looking for other jobs - both in and out of trucking. That "outward migration" of drayage drivers and trucks threatens to...
Protesters fail to thwart Zim ship in Tampa Bay Protesters were unsuccessful in delaying the arrival of the Zim Alabama at the Port of Tampa Bay over the weekend, though demonstrations against the Israeli-owned carrier are beginning to spread to more U.S. ports. According to the Tampa Bay Business Journal, about 25 protesters with the group "Block the Boat" gathered...
Visakhapatnam, Gangavaram port operations remain suspended Operations at India's eastern ports of Visakhapatnam and Gangavaram remained suspended on Monday following the devastation wrought by Cyclone Hudhud, a storm that hammered in at with wind speeds of up to 90 miles per hour on Sunday. "Visakhapatnam port is closed to all traffic, and officials are not in a...
Customs compliance: Protecting from within When have you done enough on Customs compliance? Based on a recent exchange in a LinkedIn discussion group, there is real disagreement. Despite that lack of concurrence, two court cases decided in recent months drive home the point that proper internal controls are a must. The first is United States v....
Hyundai to sell stakes in two US terminals Hyundai Merchant Marine said it will sell 49 percent stakes in two U.S. West Coast terminals to U.S. private equity firm Lindsay Goldberg for $140 million. The deal continues a trend in which private investment groups are showing a renewed appetite for acquisitions of stakes in container terminals, though at lower multiples...
Jawaharlal Nehru Port renovations to impact ship handling Planned equipment upgrades at India's Jawaharlal Nehru Port will impact some ship calls in the the Indamex Service, a vessel-sharing agreement between Hapag-Lloyd, CMA CGM, APL, NYK Line and OOCL that connects the Indian subcontinent and eastern Mediterranean with the U.S. East Coast. The installation of three new super-post-Panamax rail-mounted quay...
US imports drive market-beating growth in K+N ocean freight Kuehne + Nagel credited rising U.S. container imports for driving a market-beating 7.4 percent increase in the global forwarding and logistics group's third-quarter ocean freight traffic. The Swiss-based firm handled 991,000 20-foot-equivalent units in the three months to end-September, compared with 923,000 TEUs year ago. This lifted volume for the first three...
Asia-Europe container lines face GRI hurdle as spot rates continue slide Rates from Shanghai to Northern European ports hit a 50-week low. Full-size image Ocean carriers face an uphill struggle to achieve planned general rate increases in the Asia-North Europe trade in the coming weeks against a backdrop of plummeting spot rates, according to industry analysts. The latest reading of the Shanghai Containerised...
Canadian Pacific makes merger overture to CSX CSX has rebuffed an overture from Canadian Pacific Railway about a merger or acquisition that would reshape North America's transportation map by creating the continent's largest rail network. It was unclear whether discussions would be renewed, according to the Wall Street Journal, which first reported it. Any deal between the two railroads...
New ships, winter to pressure carriers in Asia-Europe trade To understand how deeply the Asia-Europe trade is holding carriers' bottom lines hostage, one just needs to look at the numbers. Spot freight rates on the head-haul westbound trade out of Asia slumped to just $822 per 20-foot-equivalent container unit in late September, according to the Shanghai Containerized Freight Index,...
Hapag-Lloyd seeking stability in some unconventional places After steaming through choppy waters over the past several years, Hapag-Lloyd is looking for a safe haven. Like many of its rivals, the German carrier is seeking that haven in the form of new or enlarged alliances. But Hapag-Lloyd, one of the world's oldest shipping companies, is taking the pursuit...
Norwegian adds president Norwegian Cruise Line has hired a hospitality industry executive to serve as its president and chief operating officer.
US shipping share blues New York-listed shipping stocks took a beating Monday as negative sentiment failed to take a day off for the Veterans Day bank holiday.
DryShips shares plummet DryShips shares took a nosedive Monday after the company nixed a $700m bond offering and as shipping shares suffered across the board.
Bunker boost for tankers Time-charter equivalent (TCE) rates in the tanker markets are receiving a boost from dropping bunkers costs, according to US tanker brokerage Charles Weber.
Colombo run back on A passenger service between India and Sri Lanka could soon return after a previous operator failed in 2011.
Deal or no deal? Avance Gas may have openly put the brakes on a takeover of Dorian but the issue of consolidation surrounding the company has not gone away, analysts believe.
Ferry evacuated A Norwegian ferry has been towed for repairs after running aground.
GSI gets Wenchong Guangzhou Shipyard International (GSI) is taking control of sister yard Huangpu Wenchong Shipbuilding.
China Shipping's $13bn deal China Shipping Group (CSG) has signed a new "strategic alliance" with state lender Industrial and Commercial Bank of China (ICBC).
Hallin cancels $110m newbuild The closing down of Singapore's Hallin Marine has resulted in four cancelled projects and arbitration proceedings for a newbuilding that will never be delivered.
Suezmax threshold approaches Spending on suezmax tankers this year in the second hand market is set to break through the $1bn barrier.
Orlin in at Dorian Hedge fund tycoon Paul Orlin has emerged as a major investor in VLGC owner Dorian LPG.
Essar shares rise Two divisions of India's Essar Group have seen their shares jump following a decision to delist from the Mumbai stock exchange.
OPDR expands Germany's OPDR is launching a new container service from Morocco to northern Europe.
Navios MLP set for swing New Navios MLP Navios Maritime Midstream Partners is looking at an annual positive profit swing of more than $40m, according to data in its IPO prospectus.
VLEC contract for Wartsila Finnish ship systems company Wartsila has broken through into the very large ethane carriers (VLEC) sector after signing a contract for gas-handling systems.
Two dead in sinking Two people have drowned after a Taiwanese research ship sank off the Penghu Islands.
Crew facing re-trial? The 35 crew and guards on an AdvanFort ship in India are now facing further legal action three months after an arms case against them was dropped.
Giant's reach A new VLCC chartering giant created by Frontline and Tankers International will have a larger influence in the spot market than has been previously suggested.
DryShips shelves notes DryShips has shelved a $700m notes issue that it hoped would cure its convertible headache.
Johor draught dispute A tank farm in Johor has begun arbitrage proceedings against the port operator for allegedly failing to maintain sufficient draught for VLCC operations.
HMM raising $140m Korean owner Hyundai Merchant Marine (HMM) is banking more money through a sale of stock in its US container terminals.
SHI scoops $620m order Samsung Heavy Industries (SHI) has won an order for three new LNG carriers worth $620m.
Thumbs up for suezmaxes Poten & Partners has become the latest broking shop to sing the praises of the Suezmax tanker market.
SMM bags Libra FPSO Sembcorp Marine has secured a conversion contract from Teekay Offshore Partners to convert a shuttle tanker into an FPSO.
Swissco taps bond market Swissco confirmed Monday that it had raised SGD 100m ($78.7m) from a three-and-a-half-year bond issue.
UK on Ebola watch British authorities have begun monitoring vessels heading for the UK that have visited ports in countries where the Ebola virus is present.
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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