Wärtsilä powers first high-speed LNG-fuelled RoPax For the first LNG-powered high speed ferry (RoPax), Wärtsilä will supply a complete LNG power package. The vessel, being built in China by Guangzhou Shipyard International for Swedish operator Rederi AB Gotland, will be the first Swedish-flagged LNG-powered vessel. Wärtsilä will supply the
India gives P&I Clubs more time to insure Iranian ships India has extended approval by six months, beginning 27 December 2014, for two Iranian ship underwriters to provide insurance for container, tanker, and bulk vessels calling at Indian ports. An earlier six-month approval by India for Iran's Kish P&I Club and QITA P&I Club to provide cover to
Royal Caribbean embraces scrubbers Following an extensive testing period, Royal Caribbean has announced a sweeping plan to retrofit its ships with exhaust gas scrubbers. The world's second largest cruise owner will retrofit scrubbers onto 13 vessels in the Royal Caribbean fleet and six vessels in the Celebrity Cruises brand.
Lauritzen books $160M charges amid profit warning Danish dry bulk and LPG carrier operator J Lauritzen has decided to book $160M in charges related to a weak dry bulk market and to issue second profit warning in five weeks. "The further deterioration of the dry bulk shipping market has led to a reduction of our freight rate forecasts. In line with
GasLog buys LNG pair In a move that was widely expected, NYSE-listed GasLog Ltd is purchasing two LNG carriers from the BG Group for $460M. The acquired vessels are the 2010-built, 170,000cbm Methane Becki Anne and Methane Julia Louise. They will be chartered back to BG for nine and 11 years, respectively, plus three-
Ocean Yield in $50.5M credit line expansion Ocean Yield, the Oslo-listed investor in offshore services and industrial shipping tonnage, says it has entered into an agreement to increase one of its bank loan facilities by $50.5M. "The loan proceeds will be used for funding of the equity portion of investments in vessels and for general
HMM moves to raise funds Cash-strapped Hyundai Merchant Marine said today it will issue a new tranche of shares to raise KRW200Bn ($180M) for working capital and another KRW38Bn for other purposes. HMM, South Korea's second biggest shipping company, said in a Korea Exchange filing that to meet this goal, it would issue 35M
Dialog join partners on Pengerang terminal Malaysia-listed engineering company Dialog Group (Dialog) has joined oil company Petroliam Nasional (PETRONAS) and tank storage provider Royal Vopak (Vopak) to develop an industrial terminal in Pengerang, Johor, Malaysia. The development is part of the world scale PETRONAS Refinery and
Chinese cabotage demand to slow China's cabotage bulk shipping demand growth will mainly stay stable but also slow down in 2015, a report of the Shanghai International Shipping Institute (SISI) said today. The annual demand growth is estimated to be under 6% year on year, SISI said. On the shipping capacity supply side, the
Fishing boat runs aground off Yehliu Taiwanese fishing vessel Yu Fa 222 ran aground late on Friday near the coast of Yehliu, Taipei. The captain of the vessel was killed, while two crew members are still missing. The boat, with 11 crew members on board, was sailing homeward when it struck rocks and sank 2nm off Yehliu. The Coast
Vallianz subscribes shares of POI Singapore-listed offshore services provider Vallianz Holdings has subscribed for 10,000 ordinary shares representing, 100% of the equity interest of Pemimpin Offshore Inc (POI). The subscription of the newly incorporated company in the Republic of Panama was done through Vallianz International, a
Marseilles-Fos reveals $440m growth strategy French port looks to become a viable alternative to the northern European range
Pacific Northwest volumes plummet Seattle and Tacoma witness sharp drop in monthly container volumes as west coast contract negotiations continue
GasLog agrees to acquire two more BG ships Price tag of $460m on 170,000 cu m LNG carriers reflects long charters back
Shoei Kisen and Costamare to win MOL 20,000 teu giants Japanese group again tipped in new Evergreen tender for ULCCs
Pilbara Ports Authority puts price rises on ice Challenging market conditions are factor in decision not to increase prices
Demolition market deprived of any festive cheer Traditional end of year bounce fails to materialise as 20% price correction looks like holding through to 2015
Harim reveals more details on Pan Ocean purchase Private equity firm JKL also to contribute in $968m deal for dry bulk carrier
Ex-top official at China Shipping Development faces jail time Mao Shijia is sentenced to six years in prison for corruption
ECT opts to waive appeal in Rotterdam terminal dispute Terminal operator and Port of Rotterdam Authority sign accord putting an end to lengthy dispute
Containerships queue up outside LA/Long Beach Six vessels with combined nominal capacity of 40,000 teu wait to berth
Hapag-Lloyd capital increase completed Shareholders inject €370m into the carrier as part of CSAV merger
Five shipbuilding predictions for 2015 Potential downside seems larger than upside. Unlike shipbuilding capacity, optimism is in short supply in this industry.
Shipbuilding review 2014: Be careful what you wish for The shipbuilding industry is in better shape than two years ago, but there is pressure yet to come
Lloyd's List Annual Review 2014: In praise of black swans As shipping adjusts to the prospect of cheaper fuel, what other surprises loom ahead?
Inland port serving Charleston exceeds expectations An inland port launched by the South Carolina Ports Authority roughly a year ago has exceeded its expectations, reflecting shippers' interest in reducing trucking costs and securing capacity via intermodal rail. The Greer, South Carolina, inland port handled 21,686 intermodal unit lifts in its fiscal year ended June 30, which was...
Port of Oakland attempting to east truck queues after complaints A view of the Port of Oakland's truck traffic today.The Port of Oakland will open a gate on Sunday and begin sending operational status updates to harbor truckers in order to reduce truck congestion. Oakland is feeling the ripple effects of congestion in southern California, as it is receiving some diverted...
Strong US trailer orders reflect healthy 2015 truck demand expectations Trailer orders in the U.S. reached the second-highest point ever in November, after hitting an all-time high the month prior, reflecting motor carriers' expectations of strong demand in 2015. Trailer order totaled 39,356 in November, roughly 6,900 trailers short of the record orders make in October, according to a new report...
Bunker price drops total 30 percent since November Both high and low sulfur bunker fuel prices dropped 8 percent last week. Full size chart Bunker prices sank an additional 8 percent last week, as a six month spiral has now led to a 50 percent decline in fuel prices. The average price for high sulfur bunker fuel in Rotterdam, an indicator...
Private sector group wants Brazil to deemphasize Mercosur Charging that Brazil's foreign trade is too concentrated in the Mercosur trading bloc, the Brazilian Foreign Trade Association wants Brazil to weaken its ties with Mercosur and concentrate instead on other foreign markets. Jose Augusto de Castro, president of AEB, vented his members' frustrations over the trade deficit Brazil will report...
Mitsui-Soko to take control of Sony logistics unit Mitsui-Soko Holdings Co. will take a controlling stake in Sony Supply Chain Solutions Inc. for about 18 billion yen (US$151 million), marking the latest in a series of acquisitions by Japanese transportation and logistics companies targeting subsidiaries of struggling domestic electronics giants. Mitsui-Soko Holdings said on Monday that it has agreed...
Rotterdam, ECT bury axe over $1.2B container terminal dispute The port of Rotterdam and Europe Container Terminals, its biggest container handler, have buried the hatchet over a bitter three year dispute over the award of terminal concessions in Europe's top box hub. ECT claimed around $1.2 billion in damages against the port authority for allegedly acting unfairly in the award...
Third 2M service adds to Wilhelmshaven momentum Wilhelmshaven hailed its success in landing a third 2M service as a sign of ocean carriers' growing interest in Germany's only deep water port that is virtually empty more than two years after opening. Maersk Line has confirmed that it will call at Wilhelmshaven's Jade Weser Port terminal on its ME-1...
Overcapacity not a concern for CSCL as giant ship enters Asia-Europe HONG KONG - A China Shipping Container Lines (CSCL) executive has shrugged off demand forecasts predicting 3 to 5 percent market growth in the next few years that will not be enough to fill the capacity flooding into service. At a ceremony in Singapore to welcome the world's largest container ship,...
Papua New Guinea gateway port gets upgraded HONG KONG - The first phase of an upgrade to Papua New Guinea's Lae Port has been completed, paving the way for a boost in cargo throughput at the country's most important gateway. A partnership between the Asian Development Bank (ADB), the Government of Papua New Guinea (PNG), and the Independent...
Asia Development Bank loans $100 million for Myanmar projects HONG KONG - Singapore-listed Yoma Strategic Holdings will receive a $100 million loan from the Asian Development Bank (ADB) to build up Myanmar's transport and logistics infrastructure urgently needed to create sustainable economic growth. "Investment in connectivity infrastructure is a key factor in creating better access to economic opportunities, reducing costs,...
Structural problems hold back air cargo growth, IATA says HONG KONG - The air freight business has just completed its best peak season in years, but the International Air Cargo Association (IATA) has presented a sobering picture of an industry enjoying a cyclical upturn while struggling to overcome structural problems. Brian Pearce, IATA chief economist, told reporters in Geneva that...
Deadlines closing in as holiday shipping season hums along Though many retailers initially began the holiday season with early shipping deadlines, shops clamoring for last-minute customers are testing fate with extended deadlines once again. Last year, strong online holiday shipping volumes resulted in millions of missed shipping deadlines. Nearly 73 million parcels were delivered on Dec. 24, 2013, according to...
Aegean breaks into US Gulf Aegean Marine Petroleum Network is starting bunkering operations in US waters of the Gulf of Mexico after taking over part of the business left behind by the collapse of Denmark's OW Bunker.
Exmar orders at Wison Exmar has ordered a second floating LNG liquefaction (FLNG) at Wison Offshore & Marine.
Evergreen OKs giant sextet Evergreen Marine's board of directors voted to move forward with a programme that will see it charter six giant containerships, backing orders for the behemoths.
Chevron scraps suezmax duo Oil major Chevron is reportedly selling two 1990s built suezmax tankers for demolition.
OSG tries again Overseas Shipholding Group (OSG) has turned to a US federal court in New York for help amid competing claims to payment for a fuel delivery made just before OW Bunker's collapse.
BW takes more BW LPG BW Group has purchased NOK 118m ($16m) worth of shares in Oslo-listed spin-off BW LPG.
Tsakos buys duo Tsakos Shipping and Trading has been linked with the acquisition of two product carriers from Monaco-based Andromeda Shipping.
Royal to scrub on 19 Royal Caribbean Cruises says it will add exhaust scrubbers to 19 of its ships to meet tightening sulphur limits set to come into place in January.
Polsteam scraps panamax Polish Steamship (Polsteam) has again fetched a firm price after selling one of its elderly bulkers for demolition.
Cape crash continues Hopes that the slide in capesize rates could be halted by owners' reluctance to charter were dashed today as the daily average dropped again.
Diana lands new loan Diana Shipping has secured a loan from BNP Paribas to fund two capesize bulkers.
GasLog in $460m BG buy Peter Livanos-led GasLog says it will charter two 170,000-cu m capacity vessels, Methane Becki Anne and Methane Julia Louise (both built 2010), back to BG for periods of nine and eleven years after buying the pair for $460m.
Navios shuffles management pack Navios Maritime Holdings has made several changes to its top management.
HMM to raise $217m Hyundai Merchant Marine has revealed plans to sell new shares worth KRW 238bn ($217m).
Cosco plans placement China's Cosco Shipping has revealed plans for a private placement.
Navig8 confirms Genmar deal Nicolas Busch and Gary Brocklesby's Navig8 Crude Tankers has confirmed a preliminary deal has been struck for a merger of its VLCC fleet with General Maritime.
$1.4bn VL deal on the money Genmar's $1.4bn takeover of Navig8 Crude's VLCC fleet "makes all the sense in the world", Pareto Securities says.
Alexis Zoullas steps up Eagle Bulk Shipping has handed Alexis Zoullas additional responsibility among its management team.
Christmas truce for Rotterdam Europe Container Terminals (ECT) and the Port of Rotterdam Authority have agreed to end a three-year legal dispute over claims by the terminal operator that it was unfairly treated.
NAT firms Sungdong deal Nordic American Tankers has firmed up its first newbuilding order in more than four years.
Maersk Tankers confirms MR deal Maersk Tankers has confirmed the purchase of four medium range (MR) products tankers in a move that continues its fleet renewal efforts.
Nakilat in workboat order Nakilat Damen Shipyards Qatar has penned a contract to build 11 workboats to be used in a new multi-billion port project.
Ocean Yield loan grows Ocean Yield has added $50.5m to one of its bank loans to aid with its expansion efforts.
Wartsila wins LNG deal Finnish company cooperates with GSI and Gotland in the construction of modern ro-pax.
Teekay buys identified Teekay Tankers' $230m swoop saw the company snap up ships from two separate sources.
BGC ups offer BGC Partners has increased its all-cash tender offer to acquire all outstanding shares of GFI Group to $5.45 per share, a $0.20 premium over what it was previously offering.
Green light for AMPT Moin Costa Rica's environmental agency has given its seal of approval for APM Terminal's big boxship port project on the country's Atlantic coast.
Tanker crew abandoned The crew of a small chemical tanker who have been left stranded on board in the Indonesian port of Palembang without pay and supplies have enlisted the help of the International Transport Workers Federation (ITF).
Report: Construction of Nicaraguan Canal underway Expected to become operational by 2020.
BIMCO's new standard bunker contract now available for 2015 Shipping industry can download free sample copies.
Bunker fuel consumption 'to reach 460 million tonnes by 2020' Market revenue to reach $292 billion during the same period.
Illegal bunker barge arrested by Nigerian authorities Vessel, product were immediately destroyed, authorities say.
Russian fuel oil exports up month-on-month Weak bunker demand and mild weather in Russia left more product available for export.
Singapore prices surge but outlook remains 'bearish' Brent recovery falls away.
NewOcean Energy buys troubled OW creditor Hong Kong bunker player 'seriously affected' by OW's market exit.
Carnival sees annual profits rise But company saw unrealised losses in fuel derivatives of $277 million in Q4.
LNG fuelled high-speed ferry will use Wartsila technology Vessel will be the 'first of a new generation of fast, yet environmentally sound RoPax ferries'.
Paris MoU issues ECA compliance guidelines PSC to step up bunker quality checks in ECA zones.
Skuld: Disputes could arise from new ECA rule Marine insurer calls for shipping firms to revise current bunker arrangements.
Bunker spill reported in north New Zealand Several hundred litres of bunker fuel reported to have leaked from tanker.
ECA linked LOP incidents could average 'one every three days' 'When we get the first ship floating around for a day or two in a major shipping channel, people will care.'
Train crew and check fuel quality to limit LOP risk, says USCG USCG bulletin offers advice on fuel switching.
General Dynamics NASSCO begins work on LNG-fuelled carrier Ship to incorporate environmental protection features, says shipbuilder.
EU funding to support eastern Mediterranean LNG bunker project EU to contribute $3 million towards studies.
Liquefaction terminals to form majority of LNG capital expenditure From 2015-2019.
Gazpromneft: Oil sales up 6% year-on-year To 66 million tonnes of oil equivalent in 2014.
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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