|JANUARY 24, 2014|
- Hapag-CSAV merger afoot, control seems settled, due diligence lies ahead
- China earmarks US$104.08 billion on central, western railways in 2014
- Panama Canal and lock builder in peace talks over new financing plan
- Evergreen's Ever Summit rescues crew from sinking ship off Vietnam
- Hutchison opens Brisbane Container Terminals to serve Oz east coast
- Ship operating costs up, but sector's lost value keeps insurance down
- NYK buys 100pc of car terminal in Kazakhstan as local car sales soar
- Another train carrying crude oil derails - this one in Philadelphia
- Ningbo tops Chinese cities for imports from Taiwan in 2013 under ECFA
- Three Gorges cargo volume hits record 106 million tonnes in 2013
- Busiest day came 6 days late, as compressed peak shrunk UPS profits
- Henan provincial aviation sector to join recapitalisation of Cargolux
- Amazon patents 'anticipatory shipping' to pre-empt customer buys
|JANUARY 23, 2014|
- Gujarat Junction 2014 a stupendous success in Gandhidham
- Hapag-Lloyd, CSAV merger talks enter next phase
- Indev Group's Xavier Britto honoured by the President of India
- Essar Ports' net profit up 22 pc for the first three quarters
- LuLu Group's commercial complex to attract more ships, says CoPT
- Vasan reviews projects & performance, calls for expeditious implementation of policy changes during Kandla Port visit
- Moody's pegs FY14 growth at 5.5 pc
- Global engg services leader URS aggressively strengthening headcount of Indian operations in projects & infrastructure
|JANUARY 24, 2014|
- Launch of temperature-controlled China-Europe rail service
- Israel Corporation's shareholding in Zim to be reduced
- Etihad doubling Dublin service as well
- Mapletree Logistics Trust with more revenue, less income
- DFDS introduces new UK-Italy rail service
- Ingrid Rossmeier representative for Southern Germany
- Transaero increases cargo business volume
- Transmec Group making constant effort to reduce CO2
- VTG expanding tank container logistics sector
- K+N and Destylarnia Sobieski extend seafreight pact
- Troy Container Line extends services from Italy
- New branch manager for Innsbruck and Röthis
- Envirotainer opens station in Dusseldorf
- Port users urge EU parliament not to dilute ports proposal
|JANUARY 23, 2014|
- Rem orders Arctic PSV at Kleven
- January 23, 2014 Outlook positive for offshore, but tighter CAPEX
|JANUARY 23, 2014|
- JP Morgan warns of 'pixie dust' in shipping's appeal to private equity
Too much money is chasing too few deals, which could erode transaction quality
- Talis Capital sees opportunity in smaller handysizes
Foca tells Marine Money forum that private equity player expects 10 deals this year
- Asphalt Venture Indian crew remain captive in Somalia
Seven men held since September 2010
- Panama parties agree to keep talking to resolve cost overrun dispute
Authority and construction firms extend negotiations until February
- Court orders STX subsidiary to repay its Chinese unit's debts
South Korea group's shipbuilding division must pay $200m in guarantees
- Finland reconfirms icebreaker order with Arctech
European Union part-funds deal for dual-fuel vessel
- Orders help consolidate China's shipbuilding industry
Companies won newbuildings totalling 69.8m dwt in 2013, but 90% went to just 30 yards
- CORRECTION: UK government outlines way forward for armouries
Letter to maritime security lobby came from crime prevention minister Norman Lamb
- Israel Corp outlines restructuring plan for Zim
Parent offers shares to creditors and shipowners to reduce its own stake to 32%
- GasLog raises $199m to buy BG gas carriers
Livanos-led LNG owner sells shares to fund acquisitions
- Experts bullish on prospects for dry bulk and tankers
Analysts say rates will benefit from Chinese demand and low fleet growth
- Shipping's secondary loan market heats up
Buyers and sellers converge at 90 cents in dollar, conference hears
- BMT helps port backers to assess competition and commercial risk
Analytical tools show how distribution dynamics of cargo will shape profits
- Banking sanctions restrict Iran-linked P&I payouts
Moves to loosen Tehran trade restrictions have yet to ease payment of claims
- German owners exposed to Zim's charter rate cuts
Israeli line's financial restructuring will hit all creditors
- PwC study shows a further slip in shipping's financial health
Analysis of 150 companies' accounts reveals an average zero return on net assets
- DHT buys two secondhand VLCCs
Analysts blame lower fourth-quarter spot exposure for weaker than expected results
- Panama Canal handles record tonnage thanks to strong US harvest
Waterway tops predictions by 5% for fiscal year's first quarter
- Japan shipyard export orders rise 57%
Weaker yen lured foreign owners to book eco-efficient dry bulk ships last year
- Textainer expands its owned box fleet
Container leasing giant buys 30,000 teu equivalents
- Hapag-Lloyd and CSAV sign MOU to merge box units
Deal would create world's fourth-largest box shipping outfit and may see a Hapag-Lloyd IPO
- Hamburg Süd buys abandoned Ship Finance International newbuilding
German owner secures a discount of more than 20% from Shanghai Shipyard
- The calm after the storm
Things are looking up for insurers but greater discipline is required in the hull market
|JANUARY 23, 2014|
- Evercore debuts drybulk coverage
Evercore analyst Jon Chappell, long known for his tanker research, has branched out into drybulk analysis and pegged Scorpio Bulkers and Safe Bulkers as his top picks
- DHT weighs M&A options
DHT will continue its fleet expansion and is now considering merger-and-acquisition opportunities, according to chief executive Svein Moxnes Harfjeld
- Brightoil expects to return to profit
Hong Kong-listed Brightoil Petroleum expects the last six months of 2013 to yield a profit, due to better performance in the oil trading and bunkering business
- La Spezia bucks Eurozone inertia
Italy's second-ranked container Port of La Spezia has defied the economic stagnation in the Eurozone by registering container traffic growth of 4.3% in 2013
- Sea trade set to exceed 10Bn tonnes in 2014
Sea trade may break through the 1 billion tonnes mark this year, delegates at the Marine Money Ship Finance Conference were told in London today (23 January)
- Deiulemar Shipping bought for $111.83M
Maltese registered Heron Ventures has acquired the dry bulk business of bankrupt Italian company Deiulemar Shipping for €82.5 million ($111.83 million) in a court-organised auction, according to the Italian news agency ANSA
- Turkey cancels Derince port sale
Turkey has cancelled its planned privatisation of the Port of Derince in Izmit province, northwest Turkey, after bidders failed to match the minimum $516M asking price for the port
|JANUARY 23, 2014|
- Express Carriers to Limit Shipments to Russian Consumers
- Shanghai Retains Top Spot Among China's Ports
- Analyst: CSAV, Hapag-Lloyd Merger Won't Reduce Industry Competition
- Long Beach to Spend Millions on Port Improvements
- Economy, Freight Demand to Improve in 2014, Experts Tell SMC3
- Port of Charleston's Container Throughput Climbs
- NJ Governor Signs NY-NJ Port Fee Repeal
- Union Pacific's Profit Soars to All-Time High
- Zim Debt Deal Paves Way for Ship Orders, Partnerships, IPO
|JANUARY 23, 2014|
- M&A on the menu too
DHT Holdings is on the lookout for more opportunities to expand its fleet of tankers, according to chief executive Svein Moxnes Harfjeld.
- Guidry: 'there will be fuel'
Gulf Coast Shipyard has launched the first of six dual-fuel platform-supply vessels (PSVs) that were ordered by US compatriot Harvey Gulf less than one year ago.
- Khanna sets sights on IPO
Pankaj Khanna's Pioneer Marine has added four newbuildings to its fleet as it builds up ahead of an initial public offering.
- V for Volatility
Freight rates are on the rise and the darkest days of the downturn have passed but there's a strong chance the bulker market will be more volatile than ever in 2014, Compagnie Maritime Belge (CMB) warned investors Thursday.
- Laker owner's profit sinks
Weather delays helped push American Steamship Company (ASC) into a 38% decline in its quarterly profit.
- CMB goes stainless
Compagnie Maritime Belge (CMB) has forged an alliance with an affiliate of diversified Belgian compatriot Cobelfret.
- Bocimar bulks up
Bocimar has firmed up a contract to construct five capesize bulkers at Imabari Shipbuilding in Japan.
- No fear
Owner's should not fear a shipping recovery being wrecked by the run of money from the capital markets and private equity, veteran banker Jeff Pribor says.
- Haisheng hitting heights
China Shipping Haisheng is expecting to announce a return to profit for 2013.
- Ferry evacuated
Passengers were being evacuated on Thursday from a Philippines ferry that had run aground.
- Talis eyes ship buys
London private equity firm Talis Capital is gearing up to swoop for at least six dry cargoships in 2014.
- Forest crew transferred
The crew of the abandoned bulker Rich Forest have been transferred on to a US Coast Guard (USCG) cutter in the Pacific.
- Rem enters new arena
Rem Offshore is looking to break into the harsh environment offshore market with its first winterized PSV newbuilding.
- Norshore in bond bid
Norshore has turned to the bond market for $150m to help pay for a newbuilding from Otto Marine.
- "Window of opportunity"
Oil tankers can do better this year than market fundamentals would suggest, ICAP head of tanker research Stavroula Betsakou predicts.
- Capes set for spring surge
Capesize owners should not to panic about a current slump in charter rates as they will boom by the spring.
- Bumi fixes duo
Malaysia's Bumi Armada has fixed two platform supply vessels (PSVs) into Angola for a potential $48m.
- Clarksons takes two
Clarksons has hired two brokers from Aquamarine Shipping Consultants as it set up shop in Uppsala, Sweden.
- Yard buys Dohle bulkers
Yangzijiang Shipbuilding has bought Peter Dohle's majority share in a quartet of jointly-owned panamax bulkers for just $5m.
- Panama Canal hits peak
The Panama Canal has recorded a record tonnage haul in its first quarter.
- CMA CGM releases Rhino
France's CMA CGM has launched a new feeder run to take advantage of growing cabotage opportunities in Mozambique.
- Q-Ship seals $425m loan
Qatar Shipping (Q-Ship) has clinched a new $425m loan to refinance four LNG carriers owned with Japan's big three.
- Aggressive Keppel banks more
Keppel Corp has seen its fourth quarter profit lifted thanks to a stronger showing from its Offshore & Marine division.
- Zim eyes tie-ups as IPO back on
Israeli container line Zim has finally confirmed details of its huge debt restructuring, which will see borrowing cut to between $1bn and $1.5bn from $3bn.
- ATM boosts cash pile
Frontline's upsized ATM offering will lift its cash position to $160m, a prospectus filed with US regulators shows.
- GasLog banks $199m
GasLog has ended $199m to the good following the completion of an equity issue and private placement.
- Eastern promise
Icelandic container line Eimskip has signed a cooperation deal with China's giant Cosco group.
- Piracy clause amended
Intertanko has amended its model piracy clause to take into account security issues specific to the Gulf of Guinea.
- Maersk selling again?
AP Moller-Maersk looks likely to sell another non-core business in the shape of oil and gas services operation Danbor.
- Bijela on the block
Montenegro is trying again to sell off Adriatic Shipyard Bijela.
- Hammonia backs Mojo
German shipowner Hammonia Reederei has agreed to finance and build the first of a new class of offshore construction vessel.
- Kim Heng jumps on debut
Kim Heng Offshore & Marine has raised SGD 36.4m ($28.9m) in net proceeds following a successful IPO in Singapore.
- DHT picks up Gulf VLCCs
A cash-strapped UAE tanker operator has been tipped as the seller of two VLCCs to DHT Holdings.
- Prestige files IPO
Private equity backed Prestige Cruises Holdings has filed with US regulators to raise up to $250m in an initial public offering (IPO).
- DHT sheds the red
DHT Holdings turned in a fourth-quarter profit Wednesday thanks in large part to the recent sale of a claim against bankrupt US tanker operator Overseas Shipholding Group (OSG).
- Japan ends on high
Japanese shipyards experienced a strong end to the calendar year with newbuilding orders remaining robust.
- Al Gharrafa sheds cargo
Al Gharrafa, the 215,000-cbm Q Flex LNG carrier involved in a collision off Singapore just before the New Year, is to have its cargo transferred to another Q-Flex LNG carrier, the 216,000-cbm Al Ghashamiya (built 2009).
- Take two
DHT Holdings has added two more VLCCs to its fleet of tankers in a transaction worth nearly $100m.
|JANUARY 23, 2014|
- Israel Corp. details restructuring plan for Zim
In a filing with the Tel Aviv Stock Exchange and Israel Securities Authority, Zim's parent company Israel Corp. outlined a "term sheet" for a financial restructuring of the container shipping company.
- Transplace study finds fuel surcharge most common accesorial
A benchmark study on transportation accessorials from Transplace has found that shippers are not always accurately applying fuel surcharge schedules to their domestic transportation process, among other findings.
- Panama Canal tonnage reaches new high in Q1
The Panama Canal Authority said it registered a tonnage record of 87.7 million tons during the first quarter of its fiscal year.
- ATA: 2013 truck tonnage ends on 'high note'
- Norfolk Southern sees quarterly, yearly gains
"We're seeing the results of our investments in network capacity and technology enhance our ability to offer superior service to all of our customers," Norfolk Southern's CEO said.
- FedEx, Nissan to test electric car in North America
- MOL names new leadership
- AAEI to tackle trade challenges at annual conference
- Seaboard Marine expands in Florida
- Hapag-Lloyd, CSAV plan to create fourth-largest container carrier
Hapag-Lloyd said it has signed a memorandum of understanding with the Chilean container shipping company CSAV about combining the container shipping operations of the two companies.
- Gov. Christie signs bill that would end port cargo fee
Opponents of a fee charged by the Port Authority of New York and New Jersey on cargo moving through the port are halfway toward their goal of having it eliminated.
- Seago offers service connecting Aarhus and St. Petersburg
- Executive moves
|JANUARY 23, 2014|
- Private Equity fund sees shipping opportunity
Strategy focused on young, fuel-efficient tonnage.
- IFO prices soft in northwest Europe
IFO prices soft in Rotterdam and Hamburg.
- Tight avails in Fujairah
Cape Town MGO: no avails.
- Fuel oil ouput up at Russian refinery
Bashneft-Novoil plant increasing fuel oil production.
- Fuel oil stocks at two-and-a-half month low
Singapore's onshore stocks fell down 5.4% in week to January 22.
- Methanol driven tankers to include 'important safety measures'
DNV GL sees methanol 'as part of the future energy mix for shipping.'
- Moves afoot to establish glycerine as a marine fuel
Meeting to hear results of glyercine-fuelled engine run.
- Customers need to be warned on 2015 fuel costs
'We're surprised that so few carriers have made announcements about ECA implications.'
- 'Costly bunkers' could compromise safety
Ferry sector should 'leave pay and conditions alone'.
- Cruise ship design will 'significantly reduce' fuel consumption
Bunker savings attainable by 'optimising the ship's hydrodynamics'.
- Asian IFO prices northbound in trade
Meanwhile, MGO traded without direction.
- Equity firm seeks partners for bunkering project
Investment could reach $380 million.
- 'Taxes would bring transparency' to Nigerian bunker market
Government's move to reform the bunker sector a 'good development', says expert.
- Monjasa eyes Asian growth
Staff numbers at Singapore to grow, says CEO.
- LNG carrier completes engine upgrade
Ship can now run on LNG, fuel oil or gasoil.
- Evergreen confident of fuel-efficiency 'dividend'
'Significant enhancing' of fuel efficiency in operations follows fleet renewal.