US dam dredging would cost billions Dredging buildups of oxygen-depleting sediment near three US dams would cost billions of dollars, a government study has concluded. A three-year, $1.4M assessment conducted by the US Army Corps of Engineers analysed the movement of the sediment through a series of three hydroelectric dams located
Chemical Tanker first to combine duplex stainless and stainless-clad steel The chemical tanker, Sunrise Hope (12,500dwt) is world's first to use a combination of duplex stainless steel and stainless clad steel in construction of its cargo tanks. The ship has recently been delivered to Hiro Naviera by Usuki Shipyard. Class NK says: "On the Sunrise Hope, duplex stainless
LNG-fuelled gas carriers for Teesport service named Two new liquefied natural gas (LNG)-powered chemical tankers Coral Star and Coral Sticho were named on Teesside recently. Operated by shipowner Anthony Veder, the new ships will carry liquefied ethylene gas (LEG) from SABIC's Wilton facility on Teesside to manufacturing plants in North-West Europe
Hong Kong's container volumes fall again Hong Kong's container volumes fell for the fourth consecutive months in October 2014, down 3.5% year on year to 1.785M 20-foot containers, according to the Hong Kong Port Development Council. The year-on-year drop in October 2014 was followed by the decline of container volumes in three months -
Australia and China agree free trade deal Australian dairy, meat, grain, wine and mine exports are set to benefit from the Australia China Free Trade Agreement reached this week. China, meanwhile, will benefit from fewer restrictions on foreign investments. Speaking with IHS Maritime, Rod Nairn CEO of Shipping Australia said that the deal
Bohai Leasing's trading suspension extended Shenzhen-listed Bohai Leasing announced last week that it extended the suspension of its stock trading until 28 November due to the acquisition of Cronos. Bohai Leasing, a subsidiary of HNA Capital, this year signed a memorandum of understanding (MoU) in July with Cronos Holding Company of Bermuda
Zero tariffs for Australian exports by 2019 China and Australia have entered into a free trade agreement (FTA), promising billions of dollars for Australian exporters. "Up to 95% of our exports over time will enter the Chinese market tariff free," parliamentary secretary to the Australian prime minister, Josh Frydenberg said on Sunday. The
Singapore's XMH to acquire 80% stake in Z-Power Singapore-listed marine engine solution provider XMH Holdings (XMH) has entered into a sale and purchase agreement worth around SGD12.8M ($9.86M) for the 80% equity stake of Z-Power Automation (Z-Power). The acquisition will allow XMH to expand its core businesses to include the supply of Z-Power's
Lloyd's List Middle East Awards hail Drydocks World for outstanding performance Head of classification society Tasneef is top newsmaker and Topaz best ship operator
Irish eyes are smiling as box volumes rise 9% Revived business confidence delivers highest quarterly container growth since 2007
Will container shipping recover after 2016? Adding larger boxships to a weak market creates a vicious circle, Asian Logistics and Maritime Conference hears
Stolt-Nielsen buys back $50m of its shares Chemtanker owner's buy-back programme consists of 3.1m shares
CSAV says Hapag-Lloyd merger is on target But the Chilean carrier needs Mexico and China to approve the deal
Hyundai Heavy Industries names the world's largest boxship The shipyard will deliver the 19,000 teu CSCL Globe later this month
Top shippers endorse CI findings on cargo declarations Global Shippers' Forum says our survey confirms its own policy approach
Opec production cut on the cards but credibility is the issue Move to buoy up oil prices comes as global economy evokes memories of the crash of 2008
North P&I announces a 4.75% premium hike Claims environment challenging, argues Shirke
Maersk halts Benghazi calls Fighting around Libyan port prompts Seago, Hapag-Lloyd and CMA CGM to cut their services
Aframaxes in the Med hit staggering earnings of $85,300 per day Highest daily earnings on the cross-Med route since January
Bayside mulls chemtanker IPO Investment firm owns six vessels with orders for further 14
Cheap Chinese billets continue to drive down demolition prices Markets in Pakistan and Bangladesh have proved more resilient than India
Hapag-Lloyd adds US west coast congestion charge German carrier joins CMA CGM and Hanjin in implementing a charge for cargo being transported via west coast ports
UK shipping minister explores state aid for shipowners facing higher fuel bills Hayes pledges to fight Brussels' red tape threat to UK port competitiveness
Angola LNG should resume exports by late 2015 As maintenance continues, managers shift their mid-2015 restart target to year-end
Maersk Line returns to Southampton Alliance shake-up results in Danish carrier returning to the south coast UK port for the first time since 2010
US farmers urge Obama to intervene in US west coast crisis Port congestion endangering US economy, warn exporters of agriculture products in call for federal mediation
Will US LPG exports weather the winter? A cold front at home could cut overseas gas shipments
Newbuildings drive Scorpio Bulker share deal Analysts say deal dilutes net asset value but also resolves important finance issues
Mediterranean mega hubs continue to reap the rewards Boom in transhipment behind surge in container traffic
FMC warns lines over congestion surcharges Agency reminds carriers of the 30-day rule
US truck tonnage rebounds on retail, manufacturing growth A key indicator of trucking activity in October rebounded, thanks to an uptick in retail and manufacturing business. The seasonally adjusted for-hire truck tonnage provided by the American Trucking Associations rose 0.5 percent in October, after shrinking 0.8 percent between August and September. Tonnage in October was up 3.2 percent compared...
Yusen Logistics expands in Vietnam Yusen Logistics has opened a new warehouse in Vietnam's Hai Phong City to tap growing electronics and auto manufacturing production in the country's northern region. The 129,166-square-foot warehouse is located on a logistics campus on a 1,076,391-square-foot plot in Hai Phong's Dinh Vu Industrial Zone, which also includes a 256,934-square-foot empty...
Carriers backtracking on West Coast port congestion surcharges At least seven carriers have suspended newly announced port congestion surcharges on cargo heading from Asia to the U.S. West Coast, likely resulting from fierce importer pushback and U.S. regulatory scrutiny. CMA CGM, Evergreen Line, OOCL and U.S. Lines announced the suspension of port congestion surcharges today in customer advisories, and...
Teamsters expand LA-LB strike effort to target intermodal rail The Teamsters union Tuesday expanded its organizing efforts in Southern California to include drayage companies that service the intermodal rail sector, but striking drivers didn't hamper cargo movements. Justice for Port Truckers, which is affiliated with the Teamsters, began picketing Pacer Cartage and Harbor Rail Transport at the Union Pacific Railroad...
Port of Philadelphia receives 16 proposals for long-delayed cargo complex The Philadelphia Regional Port Authority said it has received proposals from 16 potential investors in one or more parcels at Southport, a waterfront site where the port authority hopes to develop cargo-handling facilities. The port authority solicited proposals from about 200 potential investors for possible public-private partnership in part or all...
Two global logistics firms to tap e-commerce demand in Tianjin via new facilties Two global logistics companies will set up shop in the Goodman Group's newly-constructed Xiqing Logistics Park in Tianjin, reflecting the demand for modern warehousing to serve booming Chinese e-commerce business. DSV Global Transport and Logistics will lease 12,000 square meters (about 13,000 square feet) to serve international building materials manufacturer Rockwool....
Trucking research group, DOT team to to study truck 'platooning' Technology that could eventually link trucks in virtual "road trains" will be studied by the American Transportation Research Institute and two Department of Transportation research teams, the research arm of the American Trucking Associations announced this week. ATRI and the DOT researchers will study the costs and benefits of Driver Assistive...
NITL: Congested ports, higher costs, 'degraded' service hurting shippers FORT LAUDERDALE, Florida - Supply chain disruption caused by delays from congestion, chassis shortages and labor slowdowns at West Coast ports is trickling inland, shippers at the National Industrial Transportation League's annual conference here say. That's forcing shippers to rethink how they move goods to and from the ports and even...
NS could improve Northeast intermodal service via proposed acquisition Norfolk Southern Railway's proposed purchase of 282 miles of track in Pennsylvania and New York could allow the railroad to make much-needed improvements to its intermodal service. NS yesterday announced its plan to buy the portion of the Delaware & Hudson Railway Co. line running between Sunbury, Pennsylvania, and Schenectady, New...
Ghana port to triple capacity with $1.5 billion expansion At the completion of Tema's four-year expansion, it will have the largest container capacity of any West African port, the GPHA says.A $1.5 billion expansion to Ghana's port of Tema will make it the largest port in West Africa and allow it to reduce congestion driven by robust growth, the...
Agriculture shippers urge Obama to resolve West Coast disruptions U.S agriculture shippers yesterday urged President Obama to "intervene personally" by bringing in a federal mediators to help reach a U.S. West Coast labor contract deal and end slowdowns at West Coast ports. The Agriculture Transportation Coalitions said U.S. West Coast port disruptions are having a "disastrous" impact on U.S. exports,...
Port of Virginia improves financials but says congestion still needs to be cut The Port of Virginia reported its seventh operating profit in eight months amid record volume in October, but CEO John F. Reinhart said more work is needed to reduce congestion and improve operations at terminals. The Virginia Port Authority's $314,000 operating profit for the month compared with a $1.5 million loss...
NY-NJ port works to avoid repeat of last winter's gridlock The Port Authority of New York and New Jersey has issued a winter plan that includes measures to speed snow clearance, coordinate terminal closings and provide guidelines for extensions of free storage time. Port officials hope to avoid a repeat of the gridlock that resulted last winter when the East Coast's...
No quick fix for shipper woes in Washington, NITL's Carlton says FORT LAUDERDALE, Florida - From the National Industrial Transportation League's headquarters in Rossyln, Virginia, Bruce Carlton enjoys a sweeping panorama of downtown Washington from the Key Bridge and Georgetown to the Washington Monument. He sees plenty of activity from his window, but not a lot of movement on legislative issues. When...
Technology now is the key differentiating factor in logistics, XPO's Jacobs says FORT LAUDERDALE, Florida - When Bradley S. Jacobs thinks about technology and the future of transportation, he thinks big. The CEO of XPO Logistics believes autonomous driverless trucks and three-dimensional printing will change the way goods are produced and shipped within the next few decades, utterly changing global supply chains. But...
Indian merchandise exports fall for first time in seven months Full-size imageIndia's global merchandise exports in October fell for the first time in seven months on a year-on-year basis, primarily due to a sharp decline in engineering shipments, according to provisional government statistics. Exports in October fell 5 percent from a year earlier to $26.1 billion, according to the Ministry of...
Nehru port shippers to face new data user fees next year Jawaharlal Nehru Port Trust (Nhava Sheva), India's largest container handler, received the regulatory go-ahead to levy a new user fee to fund its "logistics data bank" project, a data processing center to track the movement of containers. Port regulator Tariff Authority for Major Ports last week passed an order allowing the port...
Down to the wire for DRYS DryShips appears to have emerged victorious in its crusade to refinance convertible notes that mature in less than two weeks.
Hold the applause A diversified Greek operator has sealed what appears to be a lengthy extension for a fixture involving one of its VLCCs.
FREE plots split Greek bulker operator FreeSeas appears to be gearing up for a campaign to resuscitate its stock price.
Crowley opts for barges Crowley Maritime intends to use tugs and barges to transport containerized LNG from the US to Puerto Rico on behalf of subsidiary Carib Energy.
Genco bulker detained A handymax bulker controlled by Genco Shipping & Trading has landed on the US Coast Guard's latest list of port detentions.
North P&I opts for 4.75% A 4.75% general increase is to be required by the North of England Club, the second largest of the protection and indemnity mutuals at the 20 February renewal.
Stolt in $50m buyback Norway's Stolt-Nielsen has launched a share buyback programme which could see it purchasing up to $50m of its own common stock.
OW effect spreads Demand for bunkers in India has risen 25% as prices rose in Singapore following the collapse of OW Bunker.
Platou: Maersk too negative on oil AP Moller-Maersk is being too conservative about the benefits of a lower oil price for its business, RS Platou Markets says.
Murmansk falls to loss Murmansk Shipping Company (MSCo) has posted a negative result in the first nine months.
Fredriksen eyes clear lead John Fredriksen has set his sights on dry cargo dominance on Wall Street after the merger of Golden Ocean and Knightsbridge Shipping.
Greek vessel rescues 230 A Greek-flagged vessel saved 230 immigrants during two separate operations in the Mediterranean last week.
Harms deal torn up A group of Hamburg KG companies has terminated the management contract for eight anchor-handlers, six of which are involved in an ongoing battle over their sale.
Restis takes Ulstein twins Victor Restis-backed Golden Energy Offshore has secured the management of two platform supply vessels (PSVs) ordered speculatively by Norway's Ulstein family.
ABG posts heavy loss India's ABG Shipyard has reported a loss of INR 1.73bn ($28m) in its second quarter.
Zim suspends LA service Anti-Israel protests in the US west coast over the last few months have resulted in Zim suspending its operations at the port of Long Beach.
Bayside unveils fleet Bayside Capital, a unit of HIG Capital, has quietly built up a stainless steel chemical tanker fleet worth $800m which it plans to expand further before possibly going public.
Sealink profit down Sealink has seen its profit pulled down during the third quarter as revenue from its shipbuilding and chartering divisions eased.
DNB sees tanker price rise Crude tanker prices could rise by over 40% with older vessels experiencing the largest improvement, DNB Markets says.
Tidewater drafts PWC veteran Offshore shipowning power reveals Richard Paterson has joined its board.
HIT settles debt The parent of Indonesian tanker owner Humpuss Intermoda Transportation (HIT) has cut its stake to repay a $140.9m debt to a Greek fund.
PDZ starts with loss Malaysia's PDZ Holdings has fallen to a loss in the first quarter as volumes decreased.
MOL loses A rating High debt and concerns over its low profitability have led Rating and Investment Information (R&I) to downgrade Mitsui OSK Lines.
Stena to axe 1,000 Sweden's Stena group is planning to cut 1,000 jobs as it eyes cost savings of SEK 1.5bn ($203m).
Land of the giants Hyundai Heavy Industries is close to handing the largest containership afloat to a division of one of the biggest shipowners in the business.
HMD cashing Posco stock Hyundai Mipo Dockyard is set to cash in its chips in Posco.
Bain teams with Branson? US private equity group Bain Capital has reportedly agreed to become the major shareholder in Richard Branson's new cruiseship venture.
Cochin curtailed Higher finance costs and lower revenue have pulled down Cochin Shipyard's interim profit.
Bunker tankers busted Singapore's assurances that the OW Bunker bankruptcy would not result in any disruptions in its ability to supply fuel could be tested as unpaid suppliers chase after more bunker barges operating out of the city state.
Biggest boxship coming? A Korean designer is about to start work on developing the world's biggest containership.
PSL fends off suppliers Precious Shipping has taken legal action to avoid the arrest of two of its ships which were supplied by OW Bunker, TradeWinds has learnt.
GREE seals DVB loan Greenship Bulk Trust has secured new funding from DVB Bank (Asia) to help finance two ultramax bulker newbuildings.
LA volumes head higher Port of Los Angeles has reported a 4.6% year-on-year growth in container volumes despite major congestion issues.
Vroon gets greener Vroon has sought to improve the fuel-efficiency of two of its modern car carriers following recent dry-dockings in China.
All eyes on OPEC Fears that the Organisation of Petroleum Exporting Countries (OPEC) will order members to cull production when it meets later this month appear to be unfounded, a leading analyst told investors Monday.
Mermaid takes Windermere Mermaid Maritime has confirmed that it is behind the charter of Miclyn Express Offshore's (MEO) latest acquisition.
Retrofit to make LNG ferry more eco friendly Norwegian vessel to be the first LNG hybrid ferry to operate on commercial routes.
Tests show hybrid ferry reduced fuel use, emissions Vessel fitted with Corvus' lithium polymer batteries.
OW invoices: Danish lawyer warns against hasty moves 'Right now the carriers risk paying the same bill three times.'
Denmark supports reducing flash point limit Submission to this week's IMO meeting points to FOBAS study suggesting lowering the threshold would be safe.
Aegean Marine: OW related debt 'grossly overstated' Bunkerworld publishes correction to figure stated in earlier story.
Wartsila lands Dubai 'eco'-tug contract Newbuilding part of green push by city state.
Swedish tanker company snaps up two OW tankers Says OW was 'its biggest competitor' for operating tankers of this size.
Dynamic Oil Trading files for liquidation KPMG has now been appointed provisional liquidator for both OW's Singapore subsidiaries.
Monjasa: limited impact from OW bankruptcy Industry must learn from 'sad' experience.
OW owes industry players 'at least $730 million' Global debts, including those to banks and pension funds, could top $1.5 billion.
Bunker tanker arrests climb in Singapore US oil firm moves against vessels.
Shipping firm brings OW, bunker suppliers to court Supplies came from Singapore-based marine fuel companies, spokesman confirms with Bunkerworld.
UAE bunker supplier hires former OW trader 'We will adjust to the situation and support our friends from OW Bunker the best we can.'
Monjasa founders start new shipping company African Sprinter Shipping founded on November 1, 2014.
Bunker-saving device nearing market debut Developer expecting 'definitive results of fuel savings' from latest sea trials.
Hong Kong: Industry aligns to new market dynamics OW Bunker collapse has affected 'confidence and trust'.
France questions proposed LNG fuel tank regulation Safety restrictions on single tank size could make LNG economically unattractive for ferries and cruise ships, IMO meeting hears.
Hong Kong traders expect fuel demand to rise As shipowners divert from Singapore.
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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