Carnival sails past profit forecasts Cruise giant Carnival Corp's fourth-quarter performance has trumped both its internal estimates and Wall Street predictions. On 19 December, Carnival reported a net loss of $102M for the fourth quarter, compared with net income of $66M in the same period last year. But excluding non-cash items -
Korean ships sell at fuel-saving premium South Korean-built ships are commanding higher prices than vessels from Chinese yards due to superior technology and greater fuel efficiency, according to sector analysts. In a research note, Hana Daetoo Securities analysts Park Moo-hyun and RA Yoo Jae-seon reported a 16.7% premium for two recent
IPC joins Mitsui, NYK, PSA in Priok plan PT Pelabuhan Indonesia II (Persero) - IPC - has announced its collaboration with Mitsui, Nippon Yusen Kabushiki Kaisha (NYK Line), and PSA International (PSA) on constructing and operating a container terminal at Tanjung Priok Port, Jakarta, Indonesia. PT New Priok Container Terminal One (NPCT1), a
Fishing boat grounded off Japan, two missing A Chinese fishing boat ran aground near Shimane Prefecture, Japan, with two people missing, according to the Consulate-General of China in Osaka. The 255-ton Jinhai 805 was aground with 25 crew members after hitting rocks while sailing to waters near Oki Islands of Shimane Prefecture to rescue
INFOGRAPHIC: Mega-box ship CSCL Globe's maiden journey This is the route that the world's largest container ship CSCL Globe is taking on its maiden voyage. It left China's Tianjin Port on 2 December. The vessel will call at Qingdao in Shandong province, Dalian in Liaoning province, Felixstowe in England, Rotterdam in the Netherlands, and
Rena report lists series of shortcomings Systematic shortcomings, poor ship management, watch keeping, navigation and, ultimately, a decision to take a short cut, caused the 37,209 tonne Liberian flagged Rena to veer off course and run aground. This is according to the long-awaited final report of the inquiry into the container ship,
China lifts ban on GMO corn from US China has approved the imports of genetically-modified (GMO) corn trait MIR 162 and two varieties of biotech soybeans, said US Agriculture Secretary Tom Vilsack yesterday. Speaking to reporters at the US-China Joint Commission on Commerce and Trade in Chicago, Vilsack said Chinese vice-premier Wang
South Korean ships cost more despite market Despite the challenging market, prices of South Korean ships with unrivalled technology and fuel efficiency are higher than ships built at Chinese shipyards, said analysts in a research note. Hana Daetoo Securities analysts Park Moo-hyun and RA Yoo Jae-seon said, "The two 156,000dwt Suezmax tankers
Teekay buying spree continues NYSE-listed Teekay Tankers has acquired five Aframaxes just three days after its Oslo-listed sibling Tanker Investments Ltd bought six Suezmaxes. Teekay Tankers announced today that it will pay approximately $230M in aggregate for the quintet, four of which are coated. The vessels were built in
Mermaid Maritime secures $50M subsea contract Singapore-listed offshore marine services provider Mermaid Maritime has secured a two-year contract worth $50M for an international fabrication and installation contractor to provide subsea construction support in the Gulf of Thailand. The contract will engage the services of dive support vessel
Chinese firms to tap into clean energy market Hong Kong-listed China Ocean Shipbuilding Industry has teamed up with Zhejiang Ouhua Shipbuilding to set up a new company to tap into China's clean energy market. The new company, Zhoushan China Ocean Technology Development, will have a capital of CNY400M ($65M), a stock filing of China Ocean
JOC Inland Sponsor: Interview with PITT OHIO's Geoff Muessig Geoff Mussig, Executive VP and Chief Marketing Officer, Pitt Ohio, responds to questions about the authenticity of the company's eco-friendly initiatives and approach to sustainability. ...
JOC Inland Sponsor: Interview with Top Lift Trailer's M.J. Stokes Top Lift Trailers' Founder, CEO M.J. "Butch" Stokes discusses the history and implications of today's driver shortage and inspiration for the top lift trailer. ...
CN optimistic after talks suspended with large union CN Rail said on Friday that it's optimistic it can reach an agreement with 4,800 workers after negotiations with a union representing intermodal and other workers broke down on Thursday ahead of the contract expiration at the end of the month. The talks with Unifor, the former Canadian Auto Workers union,...
JOC Inland Sponsor: Interview with Adam Roth, NAI Global NAI Global Logistics' Executive Vice President Adam Roth highlights takeaways from JOC Inland Distribution 2014, and discusses access to capacity and its impact on commercial real estate. ...
JOC Inland Sponsor: KCS's Erik Hansen Erik Hansen, Kansas City Southern's Vice President, Sales & Marketing, Intermodal, on Mexico's rising importance as an importer, natural benefits of the Port of Larazo Cardenas and its potential for growth, as well as investment in domestic U.S. intermodal....
November productivity issues end Tacoma growth streak Strong monthly volume growth at the Port of Tacoma came to an abrupt halt in November, when the port, plagued by labor productivity issues, saw international container volumes plummet 14.1 percent year-over-year, new port statistics show. Container throughput at the Port of Tacoma dropped 14.1 percent year-over-year in November. Full size...
Ocean carrier rate revision roundup for Dec. 19 Carriers announced general rate increases that span into February this week, as spot rates around the globe respond to mid-December rate hikes. Drewry Maritime Research's World Container Index composite index, which measures 11 East-to-West trade lanes, jumped a cumulative 35.8 percent this week. Trans-Pacific The 15 members of the Transpacific Stabilization Agreement...
US-flag cargo provision stripped from Coast Guard bill Provisions to boost U.S.-flag ships' required share of government-purchased food aid were deleted from the final version of a Coast Guard authorization bill that President Obama signed into law this week. "We're disappointed," said James Caponiti, president of the American Maritime Congress, which represents the U.S.-flag industry. A House-passed version of the...
Japan complains to US over port-delayed forage shipments WASHINGTON - The Japanese government recently expressed concern to the U.S. government regarding delays of U.S. forage exports because of U.S. West Coast port congestion, according to an agriculture shipper group. Japanese authorities, presumably from the Ministry of Agriculture, sent a letter to the U.S. Department of Agriculture about tardy U.S. shipments...
APM Terminals gets final go-ahead for Costa Rica terminal APM Terminals will start construction of a new container terminal in Costa Rica next year after scaling the final hurdle facing the long-delayed $1 billion project. Costa Rica's environmental regulator, Setena, this week granted the necessary permits, valid for two years, on the condition the Maersk Group's port operating unit complies...
Indonesia brings foreign partners on board to expand Jakarta port HONG KONG - Indonesia's largest port operator Pelabuhan Indonesia II (IPC) will partner with PSA International, Japanese investment company Mitsui & Co. and NYK Line to construct and operate a container terminal at Jakarta's Tanjung Priok port. The new terminal will be developed and operated by New Priok Container Terminal One...
Truckers in port strike Truckers serving Florida's Port Everglades Terminal are mounting a work stoppage, market sources tell TradeWinds.
Hapag-Lloyd raises cash Hapag-Lloyd has completed a EUR 370m ($452m) capital increase as part of its planned merger with the liner operations of Chile's Compania Sud Americana de Vapores (CSAV).
Shares plunge after offering Teekay Tankers' shares lost 14.4% of their value after the company announced a stock offering yesterday.
Genmar buys Navig8 VLCC fleet Peter Georgiopoulos's Genmar has signed a preliminary agreement for the $1.4bn takeover of Navig8's VLCC fleet.
Scorpio Bulkers in resale score Scorpio Bulkers has sold one of its kamsarmax newbuildings nearing completion at Tsuneishi.
Danes pursue OW Danish investors are clubbing together to take legal action over the collapse of OW Bunker.
Hafnia nets $236m Mikael Skov's Hafnia Tankers has secured $236.78m to help fund its newbuilding programme.
Yang Ming in clash row Taiwan's Yang Ming has accused the coast guard administration (CGA) of disregarding the country's sovereignty by seeking compensation for a collision in a Chinese court.
A family affair Hong Kong-listed SITC International Holdings has sold a 2002-built boxship to the wife of its biggest shareholder.
Fredriksen takes charge John Fredriksen holds 81.74% of Flex LNG following the completion of a mandatory offer made by his investment vehicle Geveran Trading.
Got fuel to burn, got roads to drive We take a look at what was said in the market over the past week.
Srikandi-515 spills oil A hijacked tanker that grounded off Thailand has begun leaking engine oil.
Passengers saved All 171 people on a sinking Malaysian ferry have been rescued.
Rindbo's 30-1 shot Jan Rindbo saw off competition from over 30 other candidates to win the chief executive's job at Norden, the Danish owner revealed today.
Petronas builds new terminal Malaysia's Petronas has agreed to jointly develop an industrial terminal in Pengerang, Johor, with Dialog Group and Royal Vopak.
Yard worker killed A shiprepairer has fallen to this death on a research ship in Galveston, Texas.
Rem CSV pushed back A weakening offshore market has led Age Remoy's Rem to put the brakes on a construction vessel at Vard.
New LNG hub for Finland Wartsila and Skangass have joined forces for the construction of an LNG terminal in Tornio, northern Finland.
Dynagas Partners switches Dynagas LNG Partners (DLNG) is moving its stock listing from the Nasdaq to the New York Stock Exchange (NYSE) to improve investor access.
Carnival adds duo US giant Carnival Corp has added two more cruiseships to its orderbook at Fincantieri in Italy.
Ferry crunched A Turkish ferry has been damaged in a collision with a Maltese bulker.
Three more for Multraship Dutch salvage and towage group Multraship has ordered a new trio of tugs at compatriot shipbuilder Damen.
Cruiseship aground Reports out of the Philippines indicates that the 23,100-gt cruiseship Ocean Star Pacific (built 1971) ran aground near the port of General Santos earlier this week.
TSM books bitumen ships Tianjin Southwest Maritime (TSM) is doubling its asphalt and bitumen carrier fleet with orders for up to four newbuildings.
OW Bunker man arrested Denmark has arrested a former manager of collapsed ship fuel supplier OW Bunker suspected of fraud in Italy.
Mermaid seals $50m fix Singapore-listed Mermaid Maritime has secured a two-year contract worth $50m for one of its dive support vessels.
Quiet end to 2014 The Port of Los Angeles has reported a year-on-year drop of 3% in container volumes for the month of November.
Ezion CEO buys shares Ezion Holdings chief executive Chew Thiam Keng has snapped up shares in the offshore marine logistics and support services provider.
Teekay plots takeover The $230m acquisition of five aframaxes has emerged as the first stage of broader expansion initiative at Teekay Tankers (Teekay).
Weekly Global Market Report A weekly price roundup from bunkering hubs around the world.
Traders: LSFO availability in Rotterdam, Antwerp to improve As suppliers resume loadings.
OW executive in Copenhagen court on Friday To be handed over to Italian police in the next few weeks.
OW: Trustees want Tankoil to be made bankrupt 'We are of course very interested in shedding some light on the relationship between Dynamic Oil Trading and Tankoil,' says trustee.
Tanker operators sense opportunities in the spot market Low bunker prices a factor.
Vopak builds up Southeast Asian presence Petronas is a project partner.
Faster saling speeds to trigger surge in fuel oil demand Lower prices could encourage shipowners to increase sailing speeds.
Maersk: Trade not cheaper bunkers will boost profits Senior executive plays down positive impact of falling fuel prices.
Finnish LNG bunkering terminal set for 2018 opening Wartsila wins approval to build Finnish government-backed terminal.
Piracy assumes 'worrisome dimension' 'Pirates operating off the coast of Nigeria, Togo and Benin are heavily armed and violent.'
Norden: 'Biofouling could double bunker consumption' Increased focus on maintaining clean ship sides.
Vopak's Baltic LNG bunkering plan takes shape Phase one of facility to be used for bunkering only, says project head.
Updated bunkering training guide launched Programmes designed to help shipping avoid 'potentially serious issues when switching marine fuels'.
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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