Why Joe Public is right to question passenger-shipping safety Casualties must teach us what went wrong and why and how to prevent future losses
Global LNG fleet to expand 9% this year, 10% in 2015 Fleet expansion means continued short-term pressure on freight rates until new projects rescue market from 2016-2017
Hamburg closes the gap on Rotterdam German port sees first-quarter box volumes increase by 8%
Maersk's VLCCs have risen 24% in value since it sold them in January Fleet of 15 very large crude carriers sold for $980m is now said to be worth $1.21bn
US fall in imports of African crude reshapes global crude tanker patterns Crude that used to head to the US is being diverted to Europe and Asia
LNG America hires ABS to class new bunker barge designs Initiative aims to provide infrastructure services to embryonic LNG fuel market
Interest in gas as a marine fuel gathers steam in the Middle East Owners see new opportunities to use the region's abundant reserves to power ships
Inactive box fleet falls beneath 2% mark Capacity of idle vessels slips to lowest level since September 2013
APMT posts a leap in profits on 9% volume growth Terminal operator's first-quarter net profit surges nearly 30% to $215m
Excess liquidity could break supply and demand balance, DNB warns Easy money is downside risk from 2016 on, says Kristin Holth
Arntzen hops from one bankruptcy to another Former OSG chief will help Genco equity group
Fincantieri wins MSC Cruises Seaside trio Italian shipbuilder Fincantieri has won an order for up to three new cruiseships with a new design to be called "Seaside" from compatriot shipowner MSC Cruises. The two firm 154,000gt vessels will be able to accommodate 5,300 passengers and 1,413 crew with deliveries scheduled for November 2017 and
Damen dredger starts work in Port Harcourt A Damen CSD500 dredger has started maintenance work in the wider Port Harcourt area for a Nigerian dredging contractor, a Damen spokeswoman told IHS Maritime today. The cutter suction dredger will perform "a number of jobs around the harbour the length of which is not known to us. We do know that it
HHI wins Arcadia Suezmax quartet South Korean shipbuilder Hyundai Heavy Industries (HHI) has won an order for four Suezmax tankers from Greek shipowner Arcadia Shipmanagement. The four 158,517dwt newbuildings will have an overall length of 274m, beam 48m, depth 23.1m, and will be split between HHI's Ulsan and Gunsan yards with two
JES International wins contract for six Ultramaxes Singapore-listed Chinese shipbuilder JES International Holdings said today it has clinched orders for six Ultramax dry bulk carriers. The 64,000dwt ships will be delivered from December 2015 to January 2016 and there is an option for 30 other similar vessels. JES said the order is from a company
VLOC achieves fuel savings with Mitsubishi system A newly built very large ore carrier (VLOC) has achieved fuel savings of 8% after installing a Mitsubishi system. The ship, built by Namura Shipbuilding had the Mitsubishi Energy Recovery System (MERS) installed. The system is supplied by Mitsubishi Heavy Industries Marine Machinery & Engine Co.,
Thirty-three rescued after China collision A total of 13 crew members and 20 fishermen were rescued early today, after a collision between a Chinese cargo vessel and a fishing ship. At 21.43 local time yesterday, the Chinese rescue ship Beihaijiu 101 received reports from the bulk carrier Da Li 20 that the vessel had collided with a fishing
Bounty placed on Sewol owner and son South Korean police are offering a KRW80M ($77,808) reward to anyone who can offer information on the whereabouts of the Sewol ferry owner and his son, as the two men continue to give authorities the slip. The police said today the reward is KRW50M for Yoo Byung Eun, who owns Chonghaejin Marine, and
New Yangtze River electronic chart to be launched The new electronic charting system (ECS) of the Yangtze River in China is set to be launched as the first vessel to have the system installed set sail from Yibin, Sichuan Province, on 19 May. In the next 20 days, Changjiang Waterway Bureau will carry out tests on accuracy, compliance, and other
Sembcorp Marine to outshine Keppel in near term Singapore-based offshore service provider Sembcorp Marine is cited by Lee Yue Jer, offshore and marine analyst from DMG & Partners to "outperform its fellow offshore provider Keppel Offshore and Marine in the near term". Sembcorp Marine boosts a stronger earnings growth as its shares are currently
Shipyards may expand capacity due to sales Shipyards may be tempted to expand their capacity as newbuilding delivery slots for 2016 are nearly sold out, said Norwegian shipbroker RS Platou in its monthly report. RS Platou observed: "A large portion of the new contracts during the past year was backed by "unconventional" ship owners, i.e.
Hong Kong collision causes injuries A high-speed passenger ship collided with a river cargo vessel in Hong Kong waters yesterday evening, leaving 38 passengers injured. The Universal MK2013, operated by Shun Tak-China Travel Macau, collided with an unidentified river cargo vessel near Hong Kong's Cheung Chau Island, according to the
Ezra Holdings long way from profitability Singapore-listed offshore services provider Ezra Holdings still has "some distance to go before reaching consistent profitability", according to Lee Yue Jer, offshore and marine analyst from DMG & Partners. Lee was raising concerns on the company's execution issues and the maintenance of margins as
Panamax bulker rally softens After a rally last week that saw average Panamax bulker rates rising 16% week on week, the market has begun to slow down amid a growing tonnage list, brokers told IHS Maritime. Average Panamax rates last week rose $1,121 from the previous week to $8,328/day as the number of Panamaxes fixed to ship
Produce Demand Powers Reefer Trucking Rate Increases Dry van and flatbed spot market truck rates remained steady this week, while refrigerated trucking rates continued their upward trend. The DAT Solutions weekly U.S. spot truck freight rate report for the week ending on May 17 showed the average spot market price per mile for reefer truck shipments rose two...
Port of Seattle to Modernize Terminal 5 for Mega-Ships Planned improvements at Seattle's Terminal 5.The Port of Seattle has proposed relocating cargo activities at its second-largest terminal, the 172-acre Terminal 5, to make way for a modernization project that would make it ready for mega-ships. While three of the port's four terminals are already home to super-post-Panamax cranes that can...
Cold Storage Expanding by Leaps and Bounds Growth at North America's two largest cold storage companies has mushroomed in recent years, with both looking at overseas opportunities. In January 2008, Inland Cold Storage was a company with six refrigerated warehouses and about 36 million cubic feet of capacity. CEO Bill Hendricksen sold the company to Castle & Cooke...
New Cranes Headed to Port of Savannah The Georgia Ports Authority board this week approved $86.5 million to buy four new ship-to-shore cranes and 20 new rubber-tired gantry cranes to allow the Port of Savannah's Garden City Terminal to accommodate bigger ships and provide faster handling. The new ship-to-shore cranes, designed by Konecranes and assembled in Nantong, China,...
Tech Startup Emulates Uber to Match Shippers, Trucks Working at a logistics company, and then as both a shipper and a truck freight broker in Chicago, Mike Schreiber learned first-hand how fast inefficiency pushes up transportation costs. "The old model works and it's been working for quite some time, but it can be really inefficient, in terms of phone...
Taking Responsibility for Trade Compliance Every year, just as certain as the blooming of the bluebonnets in Texas, I get asked for my opinion about where I consider to be the best fit for trade compliance within a corporate organization. The reason for the question's frequency is because trade compliance, like the proverbial hot potato,...
Royal Mail Faces Fierce Competition for Parcels Royal Mail's warning of intensifying competition in parcels and the rise of a domestic mail rival overshadowed a 12 percent increase in full-year operating profit. The company, privatized in a controversial £3.3 billion ($5.6 billion) initial public offering in October 2013, boosted profit to '671 million in the year to March...
US Industrial Real Estate Space at a Premium The warehouse and distribution center industry grew strongly in 2013, and this momentum continued into the first quarter of 2014. "The outlook for 2014 is that the industrial market will remain very healthy," said Blaine Kelley, senior vice president of CBRE's supply chain practice. What's especially encouraging about the rebound in...
APM Terminals Posts Bigger Profit, Market-Beating Volume Growth APM Terminals boosted first quarter operating profit to $215 million from $166 million a year ago as it added new terminals to a worldwide portfolio that is increasingly focused on growth markets. A.P. Moller-Maersk's port arm's traffic grew by 9 percent, outpacing market growth of 4 percent, to 9.4 million 20-foot-equivalent...
Acquisition Boosts Echo Global Logistics' LTL Business Echo Global Logistics' $37.3 million acquisition of the Watsonville, California-based transportation brokerage firm One Stop Logistics this week is expected to help the third-party logistics provider increase its domestic less-than-truckload brokerage business. One Stop Logistics, which has offices in Northern California and Florida, will begin doing business as Echo Global Logistics...
'The Freeseas fade' Greek bulker operator FreeSeas has returned to the capital markets for cash to wipe out debt.
Pittas gets 'Modi-fied' The appointment of India's new Prime Minister, Narendra Modi, bodes well for both the dry-bulk and containership markets, a leading shipowner told investors this week.
Fixed for the Pacific Concordia Maritime has won new six month charters for two of its 65,000-dwt P-Max product tankers.
Carnival to scrub on 70 cruiseships Carnival Corp is expanding its programme to install scrubbers to 70 ships as it aims to meet tightening emissions regulations, chief executive Arnold Donald said today.
Reefer to be scuttled Salvors are preparing to refloat a grounded reefer in the Galapagos Islands - and then sink it.
Vafias wants more US-listed LPG carrier company StealthGas confirmed it is looking to capture 25% of the small pressurised LPG carrier market as it reported first quarter net income rising to $7.6m, from $6.5m in the same period of 2013.
MSC Cruises seals EUR 2.1bn order Italy's Fincantieri has clinched a new order for two vessels from MSC Cruises, bringing the owner's fleet renewal this year to a potential EUR 5bn ($6.83bn).
Great Harvest buys bulker Hong Kong-listed Great Harvest has raided a compatriot to add its sixth bulker.
Gosh: $4.6m hit for POSH Singapore-based offshore vessel operator PACC Offshore Services Holdings (POSH) has revealed a potential $4.6m impact on first quarter results from its embroilment in a Mexican fraud investigation.
DHT does it again? US-listed DHT Holdings has reportedly bought a second VLCC in a month.
McTays wins barges Merseyside shipbuilder McTays has won a deal to design and build four barges for Cory Environmental.
RABT picks Pitea Swedish owner Rederi AB Transatlantic is adding an extra call as it doubles the frequency of its TransBothnia Container Line (TCL).
Neu scraps ore carrier Germany's Neu Seeschiffart of Germany has sold the 285,000-dwt ore carrier Phyllis N (built 1990) for demolition, sources say.
JES confirms billion-dollar bulker deal Singapore-listed shipbuilder JES International Holdings has revealed details of a near-$1bn bulker order for up to 36 ships.
Hurtigruten happier Hurtigruten cut its losses in the traditionally weak first quarter as it brought in higher revenues, and ongoing efficiency measures took effect.
Aegean Marine profit slips Aegean Marine Petroleum Network has seen earnings cut in the first quarter as financing costs rose.
Stolt's new partner Norway's Stolt-Nielsen group has brought in commodities giant Trafigura to develop a new bitumen terminal in the UK.
OW adds tanker Denmark's OW Bunker has chartered another products tanker to boost its Panama operations.
Condor thwarted? Failure to secure state cash to upgrade the UK port of Weymouth is threatening Condor Ferries' plan to buy a bigger ferry for the route.
SCI axes two more Shipping Corp of India (SCI) has torn up contracts for two more newbuildings over delays.
BHP voices strike fears BHP Billiton has expressed growing concern over possible industrial action by members of the Maritime Union of Australia (MUA) at Port Hedland.
No impact on shipping Tuesday's dramatic events in Thailand have yet to cause any disruption to the nation's shipping sector, says agency company GAC.
QE2 suffers crew dispute The QE2 has reportedly become embroiled in a dispute with its crew who are said to have gone on strike over a lack of pay.
Greig seals CIT finance CIT Maritime Finance has completed a $49m financing deal through a bareboat charter with Grieg Star Shipping.
New deals net Ezra $95m Ezra Holdings has secured a number of contracts in various parts of the world which have added $95m to its contract backlog.
Analyst: 2014 not tipping point for carriers Carriers who expected 2014 to be the tipping point when capacity and rates start to improve may be in for a surprise, according to Thom Albrecht of BB&T Capital Markets.
FCC, railroads reach agreement on PTC The FCC has approved the use of 11,000 positive-train-control radio poles already constructed by the seven Class I railroads for "testing and other preparatory activities" that had been signaled as disturbances.
FMCSA implements rule on driver physicals
Cleveland's port OKs financing for American Greetings headquarters
Norwegian adds new routes from London Norwegian will launch two new routes to Warsaw and Berlin from London Gatwick Airport and increase the number of daily departures from Copenhagen, the company announced Thursday.
Fla. governor promises more for ports Florida Gov. Rick Scott is touring his state this week, promoting a $300-million spending plan during a second term for upgrades at most of the state's 15 ports.
Rotterdam looks to ban six bunker fuel contaminants Has compiled list of substances not covered by ISO specification said to be toxic and damaging to ship's engines.
Prices flat in Fujairah 180 cSt prices soft in Cape Town.
IFO prices stay firm in Rotterdam Congestion reported in Gibraltar.
ABS to help 'usher in' new era of LNG bunkering 'ABS has watched ship propulsion move from wind to coal, from coal to oil, and now from oil to natural gas.'
Fincantieri to build fuel efficient cruise ships Vessels to run on 25% less fuel, claims shipyard.
Fuel oil stocks climb Singapore fuel oil imports up by 16%.
Operator to treble number of ships to be run with scrubbers 'The systems will help Carnival meet sustainability goals and mitigate fuel costs.'
Vessel fuel measurement tool to showcase at tradeshows UK's Royston says export sales are up.
Baltic refiner gearing up for low-sulphur MGO production Neste Oil says it will be able to supply ECA compliant material to Finnish ports.
Fuel-saving software firm earns Cleantech award Named one of five European cleantech companies of the decade.
Sri Lankan bunker players re-position barge Move to meet demand at southern end of Island.
DNV GL introduces new guide on LNG bunkering 'Qatar's entry as a provider of LNG for the marine industry will be a game-changer.'
Prices up at most Asian ports Bunker supplies were fine at key Asian ports on Thursday.
OW Bunker expands Panama Canal operations Firm time-charters bunker tanker to support physical deliveries.
Drill for 'stalled ship' conducted at San Francisco Bay Scenario revolved around a vessel losing engine power after a fuel changeover.
North America: Distillate demand to rise ahead of new ECA rules Some players fear stocks of LFSO might run out well ahead of 2015.
European bunker storage operator bought by PE fund Complications over Rosbunker oil terminal JV behind sell-off.
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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