Polar Code safety still on the table The Polar Code has been approved today at the IMO, during the 67th session of the Marine Environmental Committee's (MEPC) meeting. However, this is not the finalisation of the code; adoption is expected in May 2015 during MEPC 68 and safety additions are expected. "This isn't the end, the end,"
ITF asks Jordanian PM to intervene in port dispute The International Transport Workers' Federation (ITF) has protested to the Jordanian government about the arrest of around 150 port workers at the APM Terminals-run Aqaba Container Terminals. The port workers, who went on strike on Monday in a dispute about the renewal of their collective
Ebola scare hits Carnival cruise ship A Texas lab supervisor who may have been in contact with Ebola specimens has been quarantined in her cabin aboard the cruise ship Carnival Magic. Carnival said in a statement on 17 October that it was contacted by the US Centers for Disease Control late in the afternoon on 15 October and made aware
MEPC agrees IMO review of BW system approval process At the Marine Environment Protection Committee (MPEC) meeting in London this week, the Ballast Water Management Convention (BWMC) 2004 has moved closer to coming into force after Turkey became the latest country to ratify it. With this and Japan's earlier acceptance of it on 10 October 2014, there
NW EU ports warn against overspending in the Med Leading Benelux and German ports have warned against channelling excessive amounts of EU infrastructure funding into their Mediterranean counterparts. Nine ports, including Antwerp, Amsterdam, Rotterdam, Zeebrugge, Hamburg and Bremen/Bremerhaven, argue that the ports' share of the €12Bn
Dongying Port opens four additional berths China's Dongying Port has opened two 5,000 tonne and two 20,000 tonne chemical berths, the Shandong Province-based port announced yesterday. The port now operates 43 berths, and is able to handle 30M tonnes of chemical products per year. In the first half of this year, Dongying Port has handled a
Singapore bunker prices plummet amid glut Singapore bunker prices are tumbling, in line with the falling oil prices. The popular 380-centistokes (cst) fuel oil prices have fallen below the $500 per tonne mark for first time on 15 October and may head for another downward spiral. The falling bunker prices has followed the decline of crude
Nam Cheong wins $186M AHTS orders Singapore-listed offshore vessel builder Nam Cheong has secured letters of intent with a mix of sale and charter for 12 Anchor Handling Tug Supply Vessels (AHTSs) worth around $186M. The company also secured options for the sale of eight additional AHTSs. All 20 of the AHTSs will be of the newly
Police escort for Australian coal shipments Police today provided an escort for coal ships trading out of the Port of Newcastle, Australia, as an estimated 100 environmentalists launched a flotilla protest. At 11.00 hours a group of islanders called the Pacific Climate Warriors launched traditional canoes at the entrance of the harbour,
Singapore steps up on LNG bunkering Singapore is stepping up efforts to further establish its image as a safe and reputable bunkering hub, just as its government announced the possibility of introducing LNG sooner than expected to fuel ships. The annual SIBCON conference and exhibition at Singapore heard that the Maritime and Port
Vietnam to revise environmental protection law The government of Vietnam is introducing a revised Environmental Protection Law for the country's shipbreaking industry, due to take effect on 1 January 2015. The new regulation allows the import of ships intended for demolition approved with an application package that includes an environmental
COSCO Shipping returns to black Shanghai-listed COSCO Shipping posted profits of CNY191.7M ($31.29M) for the first three quarters this year, returning to black from the loss of CNY42.8M in the same period last year, according to its fiscal report yesterday. The company recorded revenue of CNY547.3M, down by 3.24% year on year,
TSC Group wins jacking system order Hong Kong-listed TSC Group Holdings today said its subsidiary Zhengzhou TSC Offshore Equipment had secured a jacking system order from Guangxin Shipbuilding & Heavy Industry (GSHI). GSHI is notably one of the major enterprises in China that specialises in the research and manufacture of offshore
Beijing to raise resource tax for oil and gas China will raise a resource tax on crude oil and natural gas while imposing a new resource tax on coal starting 1 December this year, the Chinese Ministry of Finance and the State Administration of Taxation announced. The resource tax for crude oil and natural gas will be increased from the current
Storm damage ships set to leave Australia All three ships damaged during a storm at Port Botany on Tuesday night were equipped with standard mooring lines and equipment appropriate for their vessels type, the Australian Maritime Safety Authority reports. The lines issue is one AMSA normally refers to the port authority responsible, as the
Korea Eximbank offers $170M loan to Oceanbulk The Export-Import Bank of Korea (Korea Eximbank) has offered a $170M loan to Greece-based Oceanbulk Container after the company signed a $680M contract with Korean shipbuilder Hyundai HI (HHI) for the purchase of eight container vessels. The loan is part of the bank's efforts to help finance
Lower oil prices could halve very large gas carriers' rates Downtrend could discourage new drilling, says Avance boss
The Week on Wall Street | October 17 Shipping's Letter from America
Shipowners win ballast water battle Regulators agree to review technology approval guidelines to ease owners' system reliability fears
Ports can benefit from carriers' efforts to carve out a niche, says Peel Ports Smart terminals will tap container firms' attempts to differentiate their services, says Liverpool operator
Why the bell tolls for a fourth-quarter dry bulk recovery Owners combat a triple-whammy of oversupply, slow growth and commodity trade curbs
Why shipping should fear a private equity exit Family firms may be better placed to operate and maintain quality ships
The transpacific east coast trade may be tomorrow's box battlefield BIMCO expects Panama Canal expansion, port upgrades and cascading to put pressure on freight rates
Bunker prices provide relief for capesize owners But cheaper fuel will not be the fourth-quarter game changer the segment needs
When it comes to shipbuilding, be careful what you wish for Groundbreaking designs can have hidden pitfalls as tonnage passes into new hands
Many investors don't understand shipping's complex dynamics, says Coustas Owner urges tougher entry barriers to protect it from 'substandard' competitors
LA-Long Beach congestion pushing up outbound spot truck rates Congestion and delays at the largest U.S. port complex are pushing up outbound spot market truck rates from the Los Angeles-Long Beach market, according to DAT Solutions. As containers and shipments back up on the docks and in warehouses, outbound spot rates from the region are "atypically high," said Mark Montague,...
DAT: Spot truck rates kept stable by falling fuel costs U.S. spot market truck rates remained stable last week despite a 5 percent drop in spot freight demand from the previous week, according to load-matching service DAT Solutions. The national average dry van spot truckload rate remained $2.03 per mile in the week ending Oct. 11, DAT said, flat from the...
Truck capacity shortages changing US spot market dynamics An analysis of recent lane-by-lane trucking activity in the U.S. turns on their heads some assumptions about spot market load boards and how they're used by carriers. Slightly more than half - 52.7 percent - of spot market truck moves facilitated by DAT load boards in September were outbound head-haul moves,...
Quick180 box-match service signs Maersk Quick180, a new online service that matches exporters needing a container with importers who have an unloaded box they want to get rid of, has signed Maersk Line as a participant. Meanwhile, Quick 180 has added a new wrinkle to its service offering with the launch of Quick180 Plus, which allows...
Hong Kong container volume dips for third straight month Port of Hong Kong has seen year-over-year container volume growth decelerate for three consecutive months. Numbers from the Marine Department of the Hong Kong Special Administration Region show Hong Kong handled throughput of 1.8 million TEUs in September, down 7.3 percent from September 2013. Hong Kong's year-to-date volume totals 16.8 million...
Mexico Shipments Made Simple With the cost of manufacturing rising in Asia, many companies are turning to Mexico as they re-think their global supply chain strategies. Today's shippers are sending more freight across the U.S./Mexico border as they expand their operations and customer base in Mexico. Working across the border is a challenge and...
ILWU action disrupts work at Portland's Terminal 6 An on-again, off-again dispute between the International Longshore and Warehouse Union and ICTSI, operator of Terminal 6 at the Port of Portland, Oregon, once again shut down the port's only container terminal for two days this week. A spokesperson for ICTSI said Thursday that the terminal was shut down for two...
Ocean carrier rate revision roundup for Oct. 17 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 CMA CGM hopes to boost rates on shipments from Asia, including Japan, Southeast Asia and Bangladesh, to North Europe by $850...
SCFI: GRI boosts rates in trans-Pacific; Europe, Med rates slide Full-size chartTrans-Pacific carriers received a small boost from a planned Oct. 15 rate increase this week, the Shanghai Containerized Freight Index shows. The SCFI showed rates from Asia to the U.S. West Coast up 13.1 percent, or $248 per 40-foot container, this week to $2,139. It was the first gain on...
Far East-Europe spot rates hit new low for year Spot freight rates on the Far East-North Europe route have sunk to $705 per 20-foot container, down $33 on the previous week to a new low for the year. The decline, on the Shanghai Containerized Freight Index, represents a failure by ocean carriers to push through planned mid-October general rate increases...
Foxx touts PNCT expansion, US transport investment Transportation Secretary Anthony Foxx used a ceremony highlighting the expansion of Port Newark Container Terminal to put in a plug for an Obama administration proposal to spend $302 billion over the next four years on transport infrastructure. Foxx said the U.S. freight network needs more investments such as a $14.8 million...
Considering China's Warehousing Options Pursuing warehouse solutions in China is a strategic move for companies hoping to cut costs by shipping directly to end customers. In this paper, we'll discuss the benefits of overseas warehousing, potential challenges, and implementation strategies to help companies determine if a China warehouse solution is the right enhancement to...
MPP adrift off Canada A Russian multipurpose ship (MPP) is reportedly adrift off the western Canadian coast.
Tankers rebound 'has legs' Evercore Partners sees robust fundamentals in the tanker space despite concerns over demand.
IMO to review BWMS rules The International Maritime Organisation (IMO) has agreed to review ballast water management system (BWMS) type-approval guidelines that have drawn complaints from shipowner groups.
Staying safe We take a look at what was said in the market over the past week.
LMG wins ferry work Norwegian designer LMG Marin is developing new ferries for Port of Tallinn's new islands transport contract.
Rongsheng loss hits $549m Chinese shipyard Jiangsu Rongsheng Heavy Industries has racked up losses of CNY 3.36bn ($549m) so far this year as it seeks to refinance loans.
IOPC Funds win Gard battle High Court in London rules against P&I club in long running Nissos Amorgos battle.
Belize blocks Ebola nurse Passengers have been kept on a Carnival cruiseship off Belize after a Texas nurse was isolated on board following possible contact with a patient who died of Ebola in the US.
Greek officer remanded An Anangel Maritime Services officer has been remanded in custody in Norway while police continue a murder investigation.
Rodgers set on Wall Street Paddy Rodgers has confirmed tanker giant Euronav retains an appetite for a stock listing in the US when global market conditions become more favourable.
Ferry out of action A Washington State Ferries (WSF) ship is out of action until next year after developing an electrical problem.
Mermaid unites units Mermaid Marine Australia is bringing together its global operations under a new name after taking over Singapore's Jaya Holdings.
Eimskip gets tough Icelandic owner Eimskip is ready to call in the police in a growing row over dawn raids on the company's offices last year.
Euronav on the rise Euronav shares shifted into a forward gear today after the tanker owner reported a strong start to the fourth quarter.
Pan Ocean settles again Shipowner Spar Shipping and Dong-A Tanker are among the creditors to have been handed shares in restructured Pan Ocean's latest debt-for-equity swap.
Chinese orders jump Orders for new ships have surged at Chinese yards in the first three quarters, as deliveries have dropped.
Bibby fixes floatel Bibby Maritime of the UK has secured a new charter for a recently refurbished floating accommodation vessel (floatel).
Subsea 7 spends again Oslo-listed offshore giant Subsea 7 has put another $19.4m towards buying back its bonds.
Evercore upgrades DHT Evercore has raised its rating for DHT Holdings describing it as "well positioned to benefit from an improving crude tanker market environment."
Nam Cheong books twelve Nam Cheong has secured letters of intent (LOI) for the supply of twelve anchor handlers either for sale or on long term charter.
Aegean in share buyback Aegean Marine Petroleum Network has authorized a new $20m share repurchase program to buy back its stock over the next two years.
Korean's eye APL arm CJ Korea Express has said it is considering a possible acquisition of Singapore's APL Logistics, according to a regulatory filing.
Weekly Global Market Report A weekly price roundup from bunkering hubs around the world.
Ship full of bunker cargo adrift off BC coast Has 500 tonnes of bunker fuel and 60 tonnes of diesel as cargo, reports say.
ECSA: Keep European CO2 monitoring scheme simple A straightforward tool will make it 'easily adaptable' to the global version by IMO.
Shipowners' Association: 'We don't like ECAs' Managing director of the Hong Kong Shipowners Association says they cause 'trade distortion'.
New lubricants in Nicaragua Product offers better protection for marine engines, company claims.
Further discussions on harmonising LNG bunkering standards Singapore in talks with Antwerp Port Authority, Port of Rotterdam and Port of Zeebrugge.
Rotterdam dockers call for 'serious dialogue' Over job loss concerns from new, automated terminals.
US Coast Guard in discussions to tighten ECA enforcement All vessels entering the North American ECA have been boarded 'at least once'.
LNG bunkering 'possible' within short-time frame Infrastructure is already in place, says General Manager of BG Group.
Scrubber take-up may be higher than previously thought Consultant gives new estimate.
US shipyard to push own 'eco' product tanker design Will meet Tier-III emission standards.
Singapore tests oil spill response capability Singapore needs to stay vigilant as the world's top bunkering port, says authority.
Supplier's declaration on BDN to be reviewed IMO meeting agrees that new text should be proposed with a view to amend MARPOL Annex VI appendix accordingly.
Low sulphur fuel availability review may begin in 2016 Earlier start of review to determine timing of global 0.50% sulphur cap has little support, says report to MEPC 67.
DFDS: Scrubber installations 'a necessity' 95% of DFDS' operations are inside ECAs.
Shell set for ultra-low sulphur bunker fuel launch New fuel type claims to reduce technical risks seen with distillate switchover.
Aegean upbeat over growth prospects Rolls out share buy back programme.
Hambantota port in bunker stem record Supply was conducted through World Fuel Services 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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