Wreck removal may cost owners dear despite convention coming into force Be careful where your ship is wrecked from April 2015 as new regulations have loopholes
New book documents Maersk's 40 years in container shipping How latecomer to box trades rose to the top in four decades
Quintana said to have 'delayed' $100m IPO Unconfirmed report comes amid fears 'window' may have closed for now
Oceanbulk and Oaktree add two containership newbuildings Joint venture expands its orders in the sector to 10 with bookings at Subic Bay shipyard
Italian class society Rina could list in three years New investors will take up to 29% stake as Italian class society seeks acquisitions
MSC launches new Asia-West Africa service More direct calls will cut out the need to tranship and aims to reduce transit times
Shipbuilder rejects responsibility for MOL Comfort casualty Mitsubishi Heavy Industries says operational issues could have led large boxship to sink
Safe Bulkers dismisses panamax sale rumour Owner of 38 bulkers will continue renewing fleet but 'not in a hurry' to sell
A crowded Pacific holds down capesize rates Low rates are expected to persist through the next week
Transatlantic box volumes and rates fall in February Container Trades Statistics data reveals impact of a dip in European imports
Shipowners will lose control as HSH Nordbank gets tough on nonperforming loans Bank facing Brussels scrutiny is repackaging assets to sell to interested investors
Which way forward for Germany's second-largest container line? Oetker family split as Hamburg Süd rival Hapag-Lloyd and CSAV box arm agree merger
Los Angeles strikes back US west coast port sees March volumes increase 34% year on year
Brussels rejects NOx inclusion in greenhouse gas monitoring plans Parliament reverts to move towards a global means to measure shipping CO2 emissions
Industry viewpoint: Charterers may have to pay hire on the arrest of their chartered vessel English Court of Appeal rules on NYK Bulkship versus Cargill International
ClassNK approves Kobe Steel's welding consumable Japanese classification society ClassNK announced today that it has granted type approval for the new MX-200F welding consumable that was developed by Kobe Steel Co Ltd (KOBELCO)
Fortescue iron ore exports up 59% Fortescue Metals Group's iron ore exports for the March quarter rose 15% from the December quarter and 59% year-on-year, the Australian miner announced yesterday
Marine engineer convicted of bunker fraud
U-Ming takes delivery of two Capesizes Taiwanese carrier U-Ming Marine announced today to take delivery of two 188,000dwt bulk carriers Cape Europe and Cape India
Ezion issues 100M new shares to Hong Leong Ezion has announced that it is placing out 100M new shares to Hong Leong at SGD1.94 ( $1.54) per share, and bringing in Quek Leng Chan as a strategic investor
PACC Offshore launches $310M IPO Singapore-based PACC Offshore Services Holdings (POSH), a subsidiary of Malaysia's Kuok Group, today launched its initial public offering on the Singapore Exchange's main board
Nine confirmed dead in S Korea ferry tragedy Nine people have now been confirmed dead after a ferry capsized in South Korea yesterday morning
Shenzhen LNG terminal leads to doubt PetroChina's LNG terminal in Shenzhen is going through the hearing of environmental impact assessment today, facing strong challenges from the public
Japan yard orders drop in March Japanese shipbuilders saw orders dropping both year on year and month on month in March, suggesting that their recovery may be peaking
Keppel's 1Q14 earnings down Keppel's 1Q14 core net profit remained unchanged at S$331M($264M) year on year, with strong showing from its core offshore and marine (O&M) business, which delivered earnings of S$230M, up 11% y/y with a 9% increase in revenue
Rising European Exports Boost Kuehne + Nagel Maritime Traffic A rise in European exports helped lift Kuehne + Nagel's ocean freight traffic by a market-beating 6.9 percent in the first quarter. Ocean freight traffic volume growth outpaced market growth of 3 to 4 percent, to 896,000 20-foot-equivalent units, driven by a significant increase in European exports to North America and...
uShip Innovates in LTL, Expands 'LTP' Business Over the past 10 years, online shipping marketplace uShip has helped arrange the transportation of everything from old armoires to vintage cars and even, on one occasion, a herd of white-tailed deer. Now uShip is moving deeper into what it calls "larger-than-parcel," or "LTP," freight through a partnership with the...
Vehicle Carriers Dominate Ro-Ro Market Vehicle carriers are increasing their share of the roll-on, roll-off market while conventional ro-ro vessels are in decline, according to a new report by the Dutch consulting firm Dynamar. During the last five years, 228 vehicle carriers have been built and 187 scrapped, for a net increase of 41, Dynamar said....
Virginia Port Board Overhauled - Again The Virginia Port Authority's board underwent its second shakeup in less than three years today when Gov. Terry McAuliffe replaced five of the board's 11 appointed members, saying he wanted to reverse the port's financial losses. McAuliffe's new appointees include John Milliken, an attorney who chaired the VPA board before July...
East Coast Problems Drive Interest in Great Lakes Container Service The Fortunagracht, which is being employed on the Cleveland-Europe Express.Interest in a container and breakbulk service between Cleveland and North Europe launching this month has been fueled by erratic service at U.S. East Coast ports and unreliable service via surface transportation, according to users of the service. The Cleveland-Europe Express service,...
KCS Confident Mexico Won't Strip Its Concession Agreement Kansas City Southern Railway appears confident the Mexican government won't require it to open up its track to competitors as legislation had threatened last fall. The Mexican Senate in September will send modified rail reform legislation to favorably counter a bill passed by the House that would strip the railroad of...
Shippers Want Good Price - and Service - From Carriers Shippers and carriers don't always see eye-to-eye, but they do agree on one thing as the 2014-15 shipping season rolls out: The advent of the P3 Network and other expanding vessel-sharing alliances are turning ocean transportation on the major east-west ocean trades into a commodity. In a market where one carrier's...
US Rail Traffic Returning to Normal U.S. rail traffic is returning to normal after one of the coldest winters in recent memory, Bradley Thrasher, vice president and general manager of industrial products at the Union Pacific Railroad, told the Los Angeles Transportation Club April 15. Home building, conversion of highway freight to rail, energy extraction and international...
Drewry: Asia-US Rate Gain Falls Short of Proposed Hike Drewry Container Rate Benchmark, April 16, 2014. Full-size image The Drewry benchmark rate for shipping from Hong Kong to Los Angeles rose this week after three weeks in a row with no positive movement. The Hong Kong-to-Los Angeles rate climbed 7.0 percent or $129 per 40-foot container in the week of April 16,...
Jaxport Poised to Get Federal OK for Deepening The Port of Jacksonville is poised to get the congressional go-ahead to deepen its harbor in order to handle larger container ships, after the U.S. Army Corps of Engineers completed a needed report. Jacksonville's share of the East Coast container trade was 5.5 percent in 2013, a year-over-year drop of 0.1...
Capacity Crunch Time? As much of North America thaws out from a brutal winter, the burning question in freight transportation is this: Was the heavy congestion experienced in many areas during the winter months solely a weather-related phenomenon, or is there something bigger going on? That would be this: Is the improving economy...
Boxships top demo list Containerships are dominating the demolition market for the first time in nearly ten years, according to Lion Shipbrokers.
IPO on the ropes? Wall Street was reeling Thursday amid speculation that Quintana Shipping may delay the pursuit of an initial public offering (IPO) in New York.
TOPS triggers share plan Nasdaq-listed Top Ships has pulled the trigger on a plan to revive its flagging share price through a reverse stock split.
Moody's unmoved by merger The union of Hapag-Lloyd and Chile's CSAV to form the world's fourth largest containerline has not convinced Moody's to change its negative credit ratings on the German company.
CSDC scraps three China Shipping Development Co (CSDC) has binned three more bulkers as part of its ongoing scrapping drive.
Sewol cover limited to $300m Compensation for victims of the South Korean ferry disaster may be constrained as the vessel has relatively modest protection and indemnity cover from a domestic shipping association run insurance scheme.
TransAtlantic prices Troubled Swedish shipower Rederi AB TransAtlantic (RABT) has revealed the terms of its upcoming share offering.
Bank holiday bonus TradeWinds has over 8,000 subscribers so sending each of you an Easter egg was sadly not possible.
POSH launches IPO PACC Offshore Services Holdings (POSH) officially launched its IPO on the main board of the Singapore Exchange Thursday.
Essberger takes options John T Essberger has returned to China's Zhejiang Yangfan Shipyard to exercise options for two 2,200-teu containerships.
FMG eyes spring boost Fortescue Metals Group (FMG) says it plans to increase iron ore production by 35% over the next three months.
Gunvor numbers inch up Gunvor Group has reported a modest year-on-year increase in full-year profit as one-off costs ate into its bottom line.
Ezion gets new backer Singapore's Ezion Holdings has raised $155m from the sale of 100m new shares to help finance its expansion.
Pick up the pace Retailers are urging terminal operators and the union that represents US dockers who work at West Coast ports to pick up the pace of pending contract negotiations.
Cape inquisition An investment firm founded by Cargill has been tipped as the buyer of a capesize bulker controlled by Toyo Sango of Japan.
AAR: Positive train control won't be installed by deadline Due to bureaucratic delays, the railroad industry will no longer be able to install positive train control on 40 percent of its nationwide network by Dec. 31, 2015, according to the Association of American Railroads.
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.
Shipbuilder denies responsibility in MOL Comfort lawsuit Mitsubishi Heavy Industries said it believes the breakup of the container ship MOL Comfort last year was not the result of the ship's design or construction. The ship owner, Mitsui O.S.K. Line, is seeking $135 million.
March results diverge for LA, Long Beach ports The volume of container cargo handled at the nation's two largest ports moved in different directions last month. Container volumes were down slightly at the Port of Long Beach, while the Port of Los Angeles showed strong gains.
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.
Charleston posts 10% gain in box volume
PMA-ILWU contract talks to begin May 12 A spokesman for the Pacific Maritime Association confirmed today that the employer group will begin contract negotiations with the International Longshore and Warehouse Union on May 12.
Maersk to charter MSC slots to South America
600 U.S. agriculture groups awarded funding to promote exports
Endofa names new CEO Lars Hoffman to join firm's Dubai office on May 1, 2014.
Hapag-Lloyd, CSAV sign merger agreement Merged firm would be world's fourth largest container shipping company.
Prices steady in Middle East bunker hub In Suez too, prices remain stable.
Tight avails reported in Rotterdam No congestion in Gibraltar.
Questions remain about viability of ECA compliant LSFO 'There is still a lot of testing and analysis being done before we know there will be a final product.'
Funding approved to combat pollution at sea Will allow EMSA to sign multi-annual contracts with response vessels, many of which are bunker barges.
Bunker player signs up to Maldives investment forum United Bunkering and Trading looking at opportunities generated by a series of 'mega projects'.
Chief engineer gets 18 months for bunker fraud Court had found him guilty of shortchanging vessel of 200 mt out of 500 mt delivery.
European navy looks to Omani port for bunker calls Visit was to 'test Duqm's ability to work with Britain's Royal Navy'.
WFS to discuss Q1 results Conference call will follow release of results at the end of April.
Asian market broadly stable ahead of holiday Offices in Singapore, Hong Kong to remain closed on Friday.
Denmark-based lube oil tech firm expanding to Singapore Firm manufactures cylinder lubricators for two-stroke marine diesel engines.
European Parliament move applauded by shipowners Decides to leave original emissions MRV proposal unchanged.
MSSCV ship to be built with diesel electric propulsion Integrated diesel electric system increases vessel propulsion efficiency and fuel efficiency.
Tribunal calls for clarity on bunkering in economic zones 'The issue of bunkering of fishing vessels in the EEZ has not been dwelt upon, in depth, in any international case law.'
Technology company could benefit from MFM decision Ascenz controller provides shipowners with the means to remotely monitor bunker transcations.
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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