Otago dredges to boost trade Port Otago, on New Zealand's South Island, will begin capital dredging in November to allow the current 4,500teu vessels calling at the port to sail with a deeper draught and thus carry more cargo. Speaking to IHS Maritime, commercial manager Peter Brown said: "We have consent to go to 15m but we
Sohar to build rail freight terminal Oman's Port of Sohar announced today that it plans to build a rail freight terminal - described by executive commercial manager Edwin Lammers as "vital in accelerating national growth". The port, which has sustained double-digit growth for more than a decade, will take advantage of the $250Bn
India out of bounds for ZPMC cranes China's state-owned port crane-maker Shanghai Zhenhua Heavy Industries Co Ltd (ZPMC) will not be able to sell cargo-handling equipment to India's 13 state-owned ports. This is because the country's security agencies have denied security clearance for buying and installing the cranes made by the
Strong VLCC market looks set to continue There is a positive outlook for an already strong VLCC spot market, analyst and broker sources have confirmed. DNB Securities' shipping analysts Nicolay Dyvik, Oyvind Berle and Petter Haugen cite a Reuters report, which said oil traders have started fixing crude tankers to bring North Sea, West
RSHI to expand into oil exploration China Rongsheng Heavy Industries Group Holdings (RSHI) will expand into the oil exploration sector by acquiring a 60% stake in an energy company for HKD$2.2Bn ($284M). RSHI will complete the acquisition by issuing 1.4Bn shares to New Continental Oil & Gas, which indirectly operates a project
Chinese ship demolition up 2.5% y/y for 1H14 Chinese ship breakers have reported slight changes in ship demolition for the first half of 2014 in terms of light tonnage, according to the statistics of China National Ship Recycling Association (CNSA). For the first six months in 2014, old vessels bought by Chinese ship breakers rose only 2.5%
AISLive spots Iranian paint party AIS Live data has revealed that the National Iranian Tanker Company (NITC) has started to change its vessels' identity. This change in identity has been a regular practice since the start of sanctions in 2012, and includes new names, MMSI numbers and call signs for the majority of its crude. Until
NOL on reported sale of logistics business Singapore's Neptune Orient Lines (NOL), the parent of liner operator APL, has issued a clarification in response to media reports yesterday that it is mulling a sale of its logistics business. Citing sources, local media reports in Singapore claim that NOL is looking to sell APL Logistics in the
DFDS raises forecast after strong 1H14 DFDS, the listed Danish ferry and logistics group, has raised its 2014 profit forecast after a strong first half. Group net profit rose to DKK195M ($33M) in 2Q14 from DKK79M in the same period last year, while revenues rose to DKK3.30Bn from DKK3.05Bn, the company said in a statement. For 1H14, the
Fujian Southeast wins two more Vroon AHTSs Fujian Southeast shipyard has won an order for two further anchor-handling tug supply (AHTS) vessels from Dutch owner Vroon Offshore Services bringing the total on order at the yard to eight. The two 1,700dwt vessels are scheduled for delivery in October and December 2016. The previous order for six
JNPT's SEZ aims to boost exports India's Prime Minister Narendra Modi on Saturday laid the foundation stones of the Rs 4,000 crore ($667M) port-based multi-product SEZ (special economic zone) at Jawaharlal Nehru Port Trust (JNPT) near Mumbai. The SEZ is meant to increase exports manifold, at the country's largest container port. He
Hanjin Shipping's debt restructuring on track Hanjin Shipping, South Korea's biggest shipping company, said it is executing its restructuring plan smoothly. Through its half-yearly report, Hanjin Shipping commented, "According to the restructuring plan to restore our finances, which we announced on 19 December 2013, we chose a preferred bidder
Panamax runs aground off Lianyungang port A bulk carrier ran aground off China's Lianyungang port on Monday evening and was later refloated without any injuries. The accident took place at around 20.00 when the Panama-flagged Garima Prem ran aground en route from Lianyungang to Lanshan port in Shandong province, the Lianyungang Maritime
Robust trend for Handysize scrapping Ninety-nine Handysize bulkers were demolished in 1H14, the highest among all bulker classes. An ageing fleet is the primary cause for the high demolition figures. IHS Maritime's Sea-web.com data show 360 of the 2,396 active Handysize bulkers would be aged 25 years this year, while another 21
ExxonMobil pass 1M tonnes of bunkers Oil Major, ExxonMobil Marine Fuels & Lubricants has delivered over 1M tonnes of bunkers in Singapore using a Maritime and Port Authority of Singapore (MPA) approved mass flow metering system. "Fuel quantity shortages continue to be an on-going issue facing customers, but, with mass flow metered
Bumi Armada earnings up 25.8% Malaysia-listed offshore oilfield services provider, Bumi Armada reported revenues up by 25.8% to MYR590.1M ($186.1M) in 2Q14 from MYR468.9M in 2Q13, due to increased contribution across all its established business units. The company's profit before taxation recorded a 3% rise at MYR127M in 2Q14
Death-trap container prompts insurance fears Insurers are studying the implications of last weekend's incident where one man died and 34 others were rescued from a container unloaded at Tilbury Docks in the UK. Shipping and haulage firms, concerned about future similar incidents, are looking hard at their insurance policies. Neil Smith head of
Chemical tankers hit as palm oil price hits low Chemical tankers have taken a hit as palm oil prices have slid to a five-year low as growing palm oil production in Southeast Asia and its high stockpiles in China has curtailed demand. When the Bursa Malaysia Derivatives Exchange closed trading yesterday, November contract prices for palm oil stood
Low LNG rates may encourage floating storage Spot LNG shipping rates have fallen to a four-year low and this could offer opportunities to book LNG carriers for floating storage, said IHS Energy. Growing newbuilding deliveries have resulted in an oversupply of ships due to speculative ship orders following the east Japan earthquake in March
XMH signs $10.6M MoU for Z-Power Singapore-listed diesel engine, propulsion and power generating solution provider, XMH Holdings, signed an SGD13.2M ($10.6M) memorandum of understanding for the 80% equity stake of Z-Power Automation with BH Global Corporation. This is the company's second acquisition after the successful completion
Evergreen launches US East Coast service Taiwanese Evergreen Marine Corp's container ship Ital Lunare will make the first ever direct call into the Boston port on 20 August, as part of the new service linking North Asia and the US East Coast. The weekly service also calls at the US ports of New York and Norfolk, and travels through the
US footwear imports plunged in first half Containerized footwear imports into the United States plummeted in the first half of 2014, although the industry is optimistic sales will pick up in the second half of the year. Data from PIERS, the data division of JOC Group, shows containerized imports of footwear into the U.S. sank 19.8 percent year-over-year...
Russia-bound ag cargo stuck on water as shippers adjust Thousands of containers of agricultural products heading to Russia are still on the water, in limbo until shippers can find new destinations for their goods. Russia instituted retaliatory sanctions on all agricultural products coming out of Australia, Canada, the U.S., the European Union and Norway. The bans, which went into effect...
Virginia kicks off fiscal year with 'solid start' The Virginia Port Authority today said it's on its way to profitability after kicking off its new fiscal year with a "solid start," following a loss in the previous fiscal year. In July, the first month of fiscal year 2014-15, the Port of Virginia's container volume totaled 207,771 TEUs, surpassing the monthly record...
With 3PL subsidiary, shipping reseller seeks better route to smaller shippers A freight market that hasn't "ramped down" this summer spells opportunity for Launch Logistics, the new third-party logistics subsidiary of shipping reseller Unishippers. Unishippers set up Launch Logistics Aug. 1 to help support its franchisees and small business shippers. "We'll be working with our largest franchisees and our technology team to...
Ebola fears unfounded, shipping industry says Fears of Ebola transmission via ocean vessel entered the public imagination in 1995 with the Dustin Hoffman movie "Outbreak," which featured an African monkey carrying an Ebola-like disease on a container ship headed to the U.S., where the disease wreaks havoc on the country's population. A real-life outbreak of Ebola...
Yilport targets growth through short-sea, feeder operations With much of the attention of the international container shipping industry on gateway ports and congestion problems they're experiencing in handling mega-ships, a Turkish port operator sees opportunity elsewhere. Yilport Holding this year took control of two container terminals in Scandinavia as part of a declared North Europe expansion plan. Located...
CMA CGM to create Indian Ocean transshipment hub CMA CGM, the world's third-largest container line in deployed capacity, plans to make a port on a French island in the Indian Ocean into a transshipment hub to serve markets in Africa, the company said in a statement. A transshipment hub on the island of Réunion, 200 km/120 miles east of...
Growth in Europe air, sea shipments to slow, Stifel survey says Air and sea freight volumes in European east-west trade lanes have seen consecutive gains in recent months, but growth is expected to subside over the next six months, according to a new survey from the investment firm Stifel Nicolaus. Stifel said expectations in August climbed in all trade lanes covered in...
JOC Inland Distribution Conference Confirms Key Industry Speakers Media Contact Alessandra Barrett, JOC Group Inc. +1-860-248-5238, abarrett@joc.com JOC Inland Distribution Conference Confirms Key Industry Speakers Registration Expected to Jump 40 Percent Over Last Year October 22-24, 2014, Kansas City, MO NEWARK, N.J., Aug. 18 - An expanded program for JOC Group Inc.'s 2014 JOC Inland Distribution Conference contains more shipper-focused case studies, interactive Q&A...
North American truckload linehaul rates rose sharply in July The Cass Truckload Linehaul Rate Index was up 7.2 percent year-over-year in July. Full-size chart North American truckload and intermodal freight rates trended higher in July, when truck tonnage rose more sharply than expected, buoyed by industrial output, imports and automotive shipping. As truck rates climb in the third quarter, analysts foresee steady...
Cyberattack targeted UPS Store shippers Hackers may have stolen payment information from an undisclosed number of shipping customers of The UPS Store in a period stretching from January to August, UPS said Aug. 20. Malware discovered on systems at 51 UPS Store locations in 24 states may have collected names, postal and e-mail addresses and credit...
Growth in US marine container rail traffic slows but is poised to rebound International intermodal volume growth in North America in in July slowed from the month before, but the gains were still healthy, and a robust forecast for U.S. maritime imports for this month suggest the shipment of marine containers could kick into a higher gear. The shipment of 20-foot, 40-foot and other...
Ningbo port trucker strike takes violent turn Violence flared at Ningbo's Beilun Container Port as thousands of striking truck drivers clashed with riot police and smashed the windshields of trucks crossing a picket line, according to the Hong Kong-based China Labor Bulletin. The non-governmental organisation that monitors labor issues in the mainland said that drayage drivers, dissatisfied with...
Container shortage looms over peak-season predictions A good peak season will lead to a shortage of containers, with the inventory of new boxes standing at less than two months of the required levels, Singamas chairman Teo Siong Seng said in Hong Kong. Teo told reporters at the Singamas interim results briefing that the new container inventory in...
Carriers' windfall: crafty or lucky? The focus among most of those involved in international logistics in the U.S. today revolves around the ongoing negotiations between the International Longshore and Warehouse Union and the Pacific Maritime Association and the impact of the talks on access and costs to container services. Capacity to ports on the U.S....
US subsidy investigation won't hurt business, says Singamas head Singamas chairman Teo Siong Seng does not believe the antidumping and countervailing duty investigation the company is facing in the U.S. will have a lasting effect on its business. Singamas and the world's largest container maker, China International Marine Containers (CIMC), are facing an ongoing investigation by the U.S. International Trade...
Saint John port seeks to expand container traffic Saint John's container throughput was up 46 percent in 2013. Full-size chart The Port of Saint John, New Brunswick, is trying to build on a recent surge in volume and play a bigger role in an eastern Canada container trade long dominated by Montreal and Halifax. Saint John's container volume jumped to 76,269...
Charleston's results surpass expectations Port of CharlestonSouth Carolina Ports Authority said its fiscal year 2014 results surpassed original plans, and now fiscal year 2015 is off to a good start too. The port authority reported that its 2014 fiscal year earnings, covering the period from July 2013 to June 2014, were $14.3 million, 20.7 percent...
SFI disputes detention Ship Finance International (SFI) is contesting the recent detention of one of its suezmax tankers in Philadelphia, Pennsylvania.
Fotis G upgrades TNP A leading US investment bank is urging clients to accumulate shares of Tsakos Energy Navigation.
LR rejects Pearl Seas suit Classification society Lloyd's Register has expressed confidence that it will emerge victorious from its legal battle with cruiseship owner Pearl Seas Cruises.
Vestland stays red Norway's Vestland Offshore has reduced its loss for the second three-month period of 2014 thanks to increasing its revenue.
Omicron linked to buy Following a trend that seems to have been developing in recent weeks, another Greek owner is said to have snapped up a panamax bulker at a firm price.
Monkeys aboard Five unexpected passengers were found on the 15,550-teu Eugen Maersk (built 2008) before it arrived in Rotterdam port yesterday.
Navios Holdings trims loss Improved revenue from its bulker fleet has helped Navios Maritime Holdings to a smaller than anticipated second quarter loss.
More profit for Grindrod South Africa's Grindrod has increased its profit in the second quarter while raising capital of ZAR 2.4bn ($225m) to secure equity for a growth plan.
Deutsche hires Asia chief DVB's former Asia chief Peter Illingworth has re-emerged in a similar role at Deutsche Bank after a summer of gardening leave.
AHTS day-rates surge Day-rates in the North Sea spot sector have reached their highest level since late December, with BP hiring the 274-bp anchor-handler Havila Jupiter (built 2010) for £110,000 per day.
OSG holders to sell A range of US funds are looking to cash out of reborn US tanker owner OSG by registering to sell $1.2bn of shares and warrants.
Dof on the rise Norway's Dof has taken full advantage of its long-term contracts and prospered in the second quarter, recovering from last year's loss.
Pappas shares Star Bulk plan Star Bulk is on "a continuous search for deals" despite two takeovers this summer that have made it the largest bulker owner listed in the US, its chief executive says.
Bergen's red ink Norway's Bergen Group has seen a decrease in both revenue and net profit, following its decision to exit the shipbuilding industry and focus on marine services.
Contango carnival VLCC rates are shaping up to reach three-year highs during peak season, DNB Markets says.
Siem recovers Siem Offshore has bounced back in the second quarter, recording a profit and increasing revenues through a higher utilisation of its bigger fleet.
Shih Wei slips Taiwan's Shih Wei Navigation has fallen to a loss in the second quarter this year, as revenue dropped.
Hurtigruten turns profit Hurtigruten's efforts to re-organise over the past two years have finally paid off, according to its profitable second quarter result.
Rem stronger again Rem Offshore has prospered in the second quarter despite a tough North Sea spot market.
DFDS raises its sights Danish ro-ro group DFDS is expecting better annual earnings after its freight business pushed up profit in the second quarter.
Phoenix rebounds China's CSC Phoenix has returned to profit in the first half of 2014 despite being embroiled in legal action and ship auctions.
Sudan Line ditches oldie Sudan Line is down to one ship after selling its 12,100-dwt general cargo ship Darfur (built 1979) for demolition in India.
Iran bypasses Hormuz Iranian president Hassan Rouhani has announced that Iran is planning to spend $2.5bn on a new oil export terminal in the town of Jask on the Gulf of Oman.
Articulated tug barges on the Marine Highway? Minyan Marine is just one of two companies investigating the possibility of using articulated tug-barges to offer short-sea services for domestic shippers of containerized cargo in the United States.
Neptune Pacific buys Polynesian Shipping Line Neptune Pacific Line is not affiliated with Neptune Orient Line of Singapore, but is owned by the Los Angeles-based conglomerate Roll Global, which is best known for its food and beverage businesses.
More protests targeting ZIM planned in SeaTac
Eurozone contributes to lag in U.S. exports The key to the bounce back in the U.S. economy will be the performance of the housing market and consumers, Sara Johnson, a senior research director at IHS Economics, said, echoing consensus economic opinion.
New Orleans awards contract for intermodal terminal improvement The port said the 12-acre project will result "in a modern and efficient intermodal container transfer terminal to facilitate the movement of marine and rail cargo, while enhancing safety and reducing the carbon footprint."
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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