Shipbuilding prices forecast to remain flat in coming months Greek broker Intermodal says combination of firm values and weak freights could drive S&P deals
Hapag-Lloyd and CSAV agree to merge container businesses Combined group will form world's fourth largest containership operator with around 200 vessels
UACC orders four chemical tankers Dubai owner eyes growth opportunities in improving segment
Search continues for missing Sewol passengers Update: Nine dead and 287 people still missing following South Korean ferry capsize
Off the road: US gasoline shipments fall as Americans drive less Unemployment and an ageing population help to push down Europe-US Atlantic trade
Two Chinese carriers confirmed to participate in Yamal LNG project China LNG Shipping venture with Teekay will ship gas from Russia on ice-class carriers
US approves ConocoPhillips bid to resume Alaska LNG exports Energy giant shut Kenai plant in 2011 but will start shipments to Asia from May
India moves forward with 5m-tonne LNG import terminal at Mundra Plans to build more than 10 additional plants will generate new business for gas shipping
HSH Nordbank sees box derivatives trade gaining ground in Germany Shippers and forwarders start to make greater use of risk-management tools
Maersk to operate Triple-E 18,270 teu vessels at full capacity by year-end Just two major ports can handle fully loaded largest boxships now
Port of Long Beach reports a drop in box throughput for March Figures reflect suspended services and competition from container rival Los Angeles
Pacific Basin sees stronger handysize rates in second half Dry bulk firm leaves revenue days uncovered anticipating improved spot market
Italy: 'Banks should help shipping' Ships are a better investment than real estate, and Italian banks should do more to support new investment in shipping and thereby economic growth, the president of the Italian shipowners association Confitarma told IHS Maritime
ILO throws abandoned seafarers a lifeline The International Labour Organization (ILO) has agreed an amendment to the Maritime Labour Convention 2006 (MLC) to protect seafarers when their employer abandons them, allowing them to be swiftly repatriated
WTS acquires Integrated Engineering Service Wilhelmsen Technical Solutions AB (WTS) will purchase 100% of the shares in Integrated Engineering Services Ltd
Antwerp Port Authority seeks development ideas Antwerp Port Authority (APA) will invite potential investors to submit ideas regarding the development of the 96 hectare Opel site in the Antwerp port area, which APA hopes will bring new industries and additional employment
CSDC to order four LNG carriers China Shipping Development, a bulk shipping arm of the China Shipping Group, today signalled that it would place a newbuilding order for four LNG carriers for the Yamal LNG project
Update: South Korea ferry sinking Three persons have died and 292 people are still missing after a ferry capsized off South Korea's southern coast this morning
S Korea ferry tragedy: 4 dead, 293 missing Two persons have died and 293 people are still missing after a ferry capsized off South Korea's southern coast this morning
Jiangsu to pay $56M subsidy for ship recycling China's Jiangsu provincial government plans to pay a CNY350M ($56M) subsidy in 2014 and 2015 to encourage scrapping old vessels and building new eco-ships
Gaolan port container throughput up 96% in March China's Gaolan port in Zhuhai, Guangdong, recorded a total container throughput of 69,945teu in March, up by 96% y/y, Zhuhai port group announced yesterday
Pacific Basin continues fleet expansions in 1Q Pacific Basin has continued to expand its fleet by buying two secondhand vessels, chartering in two newbuildings and ordering another during the first three months in 2014
Hapag-Lloyd, CSAV Finalize Merger Agreement Michael Behrendt, chairman of the executive board of Hapag-Lloyd (left), and Oscar Hasbún, CEO of CSAV, today at Hapag-Lloyd headquarters in Hamburg after the signing of the contract.Hapag-Lloyd and CSAV signed a binding contract to complete a merger to create the world's fourth-largest container line. Following the merger, Hapag-Lloyd will have...
CURE Applauds STB Decision on Fertilizer Shipments WASHINGTON, D.C. - Steve Sharp, of the Arkansas Electric Cooperative Corporation and President of Consumers United for Rail Equity (CURE), made the following statement today regarding the Surface Transportation Board's (STB) decision on shipments of fertilizer in the upper Midwest (Docket No. EP 724). "We applaud the Surface Transportation Board's decision...
Asia-Europe Carrier Showdown Looms, Alphaliner Warns The "Daily Maersk" product was supposed to solidify Maersk's position as the leading carrier on the Asia-North Europe trade, but less than three years after its launch, Maersk has lost market share in the lane and triggered a rate war, setting the stage for a carrier showdown, Alphaliner said in...
Top 50 Trucking Companies Rode Their Brakes in 2013 The United States' largest trucking companies kept tapping their brakes in 2013, slowing revenue growth for the second consecutive year as the economic recovery remained a modest one. The data behind The Journal of Commerce's Top 50 Trucking Companies list, prepared by SJ Consulting Group in Pittsburgh, show just how much...
CSX Says Rail Service Will 'Gradually' Improve CSX Transportation said rail service will "gradually" improve and that it was reasonable to expect operations to return to normal by the end of June, following a harsh winter that snarled operations and created a backlog of freight. "We don't think (the network) is going to snap back immediately," CSX CEO,...
Is Maersk Pulling Away From the Pack? Is Maersk Line leaving competitors behind? Is Maersk Line, the world's largest ocean carrier, showing that the age-old demons of container shipping - overcapacity, volatile spot rates and commoditized service - can finally be slain? Put another way, in solidly outperforming all other carriers that publicly reported financials last year, is Maersk...
Global Expansion on Target Control panel at Global.The clock on Rich Ceci's desk reads 00:00, and the project manager of Global Terminal's expansion said it signifies a milestone met. April 16 was the target when the countdown began more than three years ago for installation of 20 rail-mounted gantry cranes, the centerpiece of Global's new...
Analyst Warns of 'Uberization' of Trucking TUCSON, Ariz. - Technology similar to Uber and other apps that allow big-city users to call a taxi or black sedan with their smartphones could soon hit the U.S. trucking industry, potentially displacing freight brokers that fail to adapt, a senior equity research analyst warned on April 12. The popularity of...
Smith Electric Vehicles Halts Truck Production Smith Electric Vehicles, hailed by President Obama in 2010 for its help "setting a model" for a greener U.S. economy, stopped making or delivering trucks and vans late last year as it ran short on cash and failed to make a profit from its battery-powered vehicles. The stoppage - revealed in...
Kobe Container Trade Drops The number of foreign trade containers handled by the Port of Kobe in western Japan fell for the second year in a row in 2013, according to figures released by the Kobe municipal government. The Port of Kobe handled 2.049 million 20-foot-equivalent units (TEUs) of foreign trade containers in 2013, down...
Don't Blame the Alliances In my 42-plus years in the industry, I've seen many variations of what we now call alliances - joint services, slot-charter arrangements, vessel-sharing agreements, alliances and now mega-alliances - and more no doubt will follow. These arrangements have existed for years, yet many people act as though the concept is new....
Konecranes Takes Aim at Smaller Ports' Productivity Needs The competitive advantage of ports will be their ability to improve productivity and service levels as larger vessels call more often and increase container handling volume per port visit, according to Mika Mahlberg, vice president of Konecranes' port cranes business unit. "The number of containers to be handled per ship call...
HIT, Dockworkers Reach Wage Deal Hongkong International Terminals (HIT) said port operators, contractors and workers - who have reached a settlement in wage negotiations that will give dockworkers a potential increase of 10.1 percent - were "all in the same boat" and would have to work together if the port was to remain competitive. HIT says...
Liner titans mint merger German containership giant Hapag-Lloyd and Chilean compatriot Compania Sud Americana Vapores (CSAV) are moving forward with a merger that will create the world's fourth largest carrier.
ADM goes all the way Archer Daniels Midland (ADM) of the US has completed the takeover of Alfred C Toepfer International (Toepfer).
Extension lifts Eagle Bulk Eagle Bulk Shipping shares took flight in early US trading today after the owner secured a short term reprieve on loan repayments.
LPG helps fire Bahri Exposure to the buoyant LPG market helped lift Saudi Arabia's Bahri to another big rise in quarterly profit.
Capesizes still sliding Capesize rates today slumped below $10,000 daily as the losing run in the sector extended to 12 sessions.
Eimskip back in black Eimskip returned to the black in the final quarter of 2013 but saw a reduction in full year earnings.
Easter feast for sellers? Bulker owners are unlikely to get much rest this Easter after spotting an opportunity to take profits on vessels purchased in 2012 and 2013, according to Greek broker Intermodal.
Keppel O&M profit up Keppel Offshore & Marine has seen a rise in earnings of around a tenth for the first quarter as higher revenue pushed its orderbook to a record high.
Duo in $3.5bn subsea win Technip and Heerema Marine Contractors (HMC) have jointly clinched a subsea contract in Angola worth a staggering $3.5bn.
CSDC firms Dong Fang four China Shipping Development Co (CSDC) has revealed details of bareboat charters with a sister company for a quartet of newly ordered ultramax bulkers.
Double trouble in US Strong winds off the Virginia coast have caused a host of problems for ships over the past 24 hours.
BHP to boost output BHP Billiton is set to lift its iron ore production this year after reporting a strong third quarter for 2014.
ECO in Brazil move Edison Chouest Offshore (ECO) has agreed to set up an offshore logistics support base and ship repair yard at Acu Port in Brazil.
Korean ferry tragedy Four people are dead and nearly 300 are still missing after a ferry carrying mainly students sank in South Korea while on route to the holiday island of Jeju.
Ezion in double deal Singapore's Ezion Holdings has secured two separate contracts to supply service rigs in deals worth $78.7m.
NEWSFLASH: Army Corps approves JaxPort dredging project The U.S. Army Corps of Engineers approved JaxPort's application for dredging Wednesday by issuing a signed Chief's Report.
TIA updates broker contracts The Transportation Intermediaries Association has updated its joint broker-shipper contract with the National Industrial Transportation League due to regulatory changes stemming from MAP-21 and released a new broker-forwarder contract.
EU passes airport noise rules The European Parliament has voted to make regulations regarding airport noise restrictions more transparent. Once signed into law, the new regulations are expected to take effect in 2016.
Antwerp port absorbs former GM property
Firms form JV to handle nuclear industry logistics
NEWSFLASH: Hapag Lloyd, CSAV sign merger agreement Germany's Hapag-Lloyd and Chile's Compañía Sud Americana de Vapores (CSAV) signed a binding contract Wednesday to merge CSAV's entire container business with Hapag-Lloyd.
HP pays $108M to settle FCPA violations Hewlett-Packard Co. has agreed to pay $108 million and plead guilty to felony violations of the Foreign Corrupt Practices Act to avoid prosecution, the U.S. Justice Department and SEC announced.
WTO predicts rising, but still subpar 2014 trade growth
Major LTL carriers to post rates on uShip marketplace Three of the biggest U.S. less-than-truckload carriers will post shipper-direct spot rates on the online freight marketplace uShip, the company said Wednesday.
Shippers call for campaign against surcharges
ICAO votes to ban lithium batteries on passenger flights
Prices mixed across bunkering hubs Tight avails reported in Fujairah.
Bunker prices firm in most European ports Stronger crude values pull up fuel oil prices.
Chief engineer found guilty of fuel scam Singapore authorities uncovered 'buy-back' scheme during vessel raid.
Japanese bonded bunker sales edge up Year-on-year sales up but show fall from January.
Current procedures a 'bottle neck' for scrubber approvals Work to amend scrubber guideline continues with ways to measure scrubber washwater acidity under consideration.
Cause of Richards Bay spill unclear Leaking pipeline was officially out of use.
Lockheed sees opportunities in LNG marine fuel market LNG tank arrives at New Orleans shipyard.
IFO prices at major Asian ports marginally down Limited supplies of bunkers at Tokyo Bay.
Vopak to 're-align' Estonia operations Decision based on a 'difficult business environment' in the region, says CEO.
Russian oil major strengthens lube oil production capacity Opens blending plant in Siberia while signals intention to start another in Serbia.
Hybrid-powered PSV ordered by Icelandic firm The most expensive vessel contracted by an Icelandic shipowner, firm claims.
South China fuel oil imports to jump in April Numbers boosted by 100,000 mt cargo ordered by Brightoil.
Kirby files suit over oil spill damages Firm seeking to arrest ship involved in collision.
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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