Court rules in Rotterdam's favour in terminal dispute Decision at last in legal battle between ECT and Dutch port after more than three years
Maersk Tankers is not for sale, but individual ships may go Englestoft says cost cutting will return the company to long-term profit
Evergreen switches Taranto's final intercontinental service to Piraeus But Taiwanese carrier will reassess move after completion of harbour deepening
Time to let off steam? Gains in fuel efficiency threaten to bring down the curtain on the steam turbine era in LNG shipping - but there are different views on how long it might take
Oriental Energy charters very large ethane carriers in Jaccar-backed deal Expanding Chinese gas player takes five ships on an annual rate of up to $24m apiece
Where are the biggest tanker owners putting their money? Top three biggest players are staying away from the shipyards
China Cosco splashes another $420m on fleet renewal Bulker orders follow last week's order for five boxships for $618m
Maersk Line to reintroduce SeaLand brand Liner operator ponders gas-powered newbuildings for 2017
UASC and Hamburg Süd agree global co-operation Deal takes Hamburg Süd to transpacific and Asia-Europe and UASC to South America
Seven product tankers fix new period charters Deals agreed in the last few days hint at more agreements to come
HMM appoints co-chief executive and completes $117m share offering Embattled company says new leadership will secure a quicker turnaround
IUMI 2014: MOL Comfort design not robust, claims DNV GL Conference hears rare public criticism of rival class
GasLog Partners launches fundraiser ahead of double drop-down Proceeds will help fund two BG-chartered LNG carriers
European shipowners warn against 'emptying' Brussels' port reforms Legislators are undermining an already-weak proposal, says Ecsa's Verhoeven
Zim and Seago join forces in east Mediterranean and the Black Sea New partnership plans two seasonal strings to Novorossiysk from November
Governments have their place in bulk port development Mining projects may stall without state backing, says KPMG infrastructure chief
Dynagas Partners to buy Yenisei River for $257m Unit holders to get hike in distributions after latest LNG carrier drop-down
Star Bulk races Knightsbridge to be the largest US-listed capesize owner Battle of the big bulkers pits Greek against Norwegian
Latest US release highlights plight of maritime hostages The reported release of US journalist Michael Scott Moore, taken hostage by Somali pirates some two years ago, has highlighted the continuing plight of 37 maritime hostages still held by Somali pirates - some for over four years. This year marks the four-year anniversary of 11 of the hostages - the
Damen signs SeaZip FCS pair order Dutch shipbuilder Damen Shipyards has signed a contract with the returning Netherlands-based SeaZip Offshore Service for two Twin Axe Bow designed Fast Crew Supply (FCS) 2610 vessels. The two newbuildings will be built at Damen Shipyards Singapore and are to be named SeaZip 3 and SeaZip 4 with
China COSCO places newbuild orders China COSCO Holdings has placed orders for six Kamsarmaxes and four Newcastlemaxes at Chinese shipyards operating as part of the China State Shipbuilding Corporation (CSSC). The six Kamsarmax newbuilds will cost an aggregate of $188.9M, with the costs of the four Newcastlemaxes being $231.6M, a
Hamburg Süd enters east/west trades North-south container line Hamburg Süd is making a foray into the major east-west trades on the back of a wide-ranging slot exchange pact with the United Arab Shipping Company (UASC). The companies announced today (24 September) that they have signed a global co-operation agreement that will grant
Court rejects compensation claim by ECT A Rotterdam court has rejected a compensation claim from Europe Container Terminals (ECT). According to ECT, the building of two competing terminals on the new Maasvlakte 2 port extension would result in overcapacity and it demanded compensation equivalent to $1.15Bn. The court ruled that the port
Private equity firms exit from shipping investments Several private equity investors have exited from their shipping investments as asset values have increased by 30% year-on-year. Gulf Capital exited its stake in Gulf Marine via a $112M listing on the London Stock Exchange. Greenbrier Equity also executed a $140M listing of Ardmore Shipping in New
Court seizes $4.3M of Jiangsu Rongsheng assets Jiangsu Rongsheng HI, a key subsidiary of China Rongsheng HI (RSHI), has had assets worth CNY26.5M ($4.3M) seized by a court following a dispute with a Chinese supplier of marine materials and spare parts. On 28 August, the Wuhan Maritime Court ruled that these assets of should be seized following
Saiki secures Mitsubishi bulker order Japanese shipbuilder Saiki Heavy Industries has won an order for a 60,000dwt bulk carrier from its compatriot ship-owner Mitsubishi Corporation. The newbuilding will have an overall length of 199.9m, beam of 32.26m and a depth of 18.5m with delivery scheduled for December 2017. It will be Panama
Tsuneishi wins orders for 11 Kamsarmax bulkers Japan's Tsuneishi Shipbuilding has won orders for 11 Kamsarmax bulkers from seven different owners with all the vessels to be built at its Fukuyama yard. Six domestic owners have ordered the 81,600dwt vessels. The orders include two each from ITOCHU Corp, Santoku Senpaku, Mitsubishi Corporation and
SHI develops vaporiser for FSRU Samsung HI (SHI), the world's second-biggest shipbuilder, has co-developed a regasification vaporiser with a local manufacturer, Sewon Cellotech for liquefied natural gas floating storage and regasification units. The regasification vaporiser, which converts LNG to natural gas, is a core equipment
HMM secures $113M in foreign investment Hyundai Merchant Marine (HMM) said today (24 September) that it has secured KRW117Bn ($113M) in funding from a foreign investor. HMM, South Korea's second-biggest shipping company, has been continuing its search for foreign investment as part of plans aimed at reducing its debt ratios. HMM will
Two CEOs for HMM South Korea's Hyundai Merchant Marine (HMM) has appointed Lee Paik Hoon as its co-CEO. Lee is the internal affairs director of HMM and head of the strategy and planning department at HMM's parent company Hyundai Group. HMM now have two chief executives - the existing CEO Lee Seock Dong and Lee Paik
Pirates board tanker in Strait of Malacca A tanker vessel was boarded by six armed pirates en route to Yangon, Mynamar, on Monday in the Strait of Malacca, reported ICC Commercial Crime Services (CCS). The attack took place approximately 34nm southwest of Phuket Island, Thailand, in the early morning of 22 September, according to the
SBI Offshore gets $12.78M investment Singapore-listed SBI Offshore obtained SGD16.2M ($12.78M) from a share placement with four new investors, including Malaysian businessman Mirzan Mahathir. The company said that it had entered into subscription agreements to place a total of 62M new SBI Offshore shares at $0.2083 each. Mirzan
Asian bourses offer shipping capital too Deal sizes for shipping-related bonds in the US and Norway may far exceed those in Asia, but this must be viewed from the perspectives of shipping segments and marketing. Speaking at the Marine Money Asia Week in Singapore today, HSBC's transport head Jon Connor noted that just 7% of shipping
Southern California Pressure Cooker When the Alameda Corridor container rail route into and out of the Los Angeles-Long Beach port complex opened in 2002, it was not anticipated retailers and other importers increasingly would avoid shipping ocean containers inland by rail - the corridor's reason to exist - and instead transload imports into domestic...
Ports, roads and railways targeted in Indian infrastructure updates All 12 major Indian ports will become connected to railroads, which will also connect major factories and inland waterways, the union minister of road transport and highways and shipping, Nitin Gadkari, said today. India TV News reported that Gadkari, speaking at an event hosted by the Confederation of Indian Industry, promised...
US retail holiday sales expected to top last year's growth On an improved macroeconomic backdrop, U.S. retail holiday sales growth this year is expected to top that of last year, putting increased pressure on logistics and parcel delivery companies. According to financial advisory firm Deloitte's annual holiday sales forecast, U.S. retail holiday sales are expected to climb 4.0 percent to 4.5...
'K' Line de-emphasizing container shipping As "K" Line's container shipping business hovers at break-even, the company says it will focus on growing other shipping segments while cost-cutting to keep its container business viable. "K" Line made $161.7 million in profits in its fiscal year through March 2014, but the company noted in its annual report, released...
Truck tonnage, pricing show signs of fall peak Truck tonnage rose to a record high in August, while intermodal and truckload pricing saw continued strength, signs that intermodal rail and trucking are ramping up for their fall peak seasons. Cumulative demand for construction and factory output helped drive U.S. truck tonnage to a record high in August, according to...
Truckers have it good and should stop complaining, expert says Truckers and intermodal operators may be pessimistic by nature, but capacity is tight in both sectors, freight is growing faster than gross domestic product, and rates are on the rise. So it's time for overland carriers to "stop complaining," Noel Perry, a trucking economist and managing director of FTR Associates,...
Difficult trading conditions spur TNT Express profit warning TNT Express today issued a profit warning for 2015 because of tough trading conditions in Europe. The Dutch express delivery company also said it is making a 50 million euros ($64 million) provision in the third quarter linked to a French antitrust investigation into alleged anti-competitive behavior in the French parcel...
Maersk to spend $3 billion a year on new ship orders Maersk Line plans to invest $3 billion a year for up to five years to order ships with a combined capacity of 425,000 20-foot-equivalent units for delivery between 2017 and 2019, enabling the world's largest carrier to grow with the market. "By 2017, we will need new capacity, and we need...
Hamburg Sud, UASC sign global cooperation deal Hamburg Sud and United Arab Shipping Co. have signed a global cooperation agreement, paving the way for the German carrier to enter into the Asia-Europe and trans-Pacific trades and for its partner to establish a foothold in the fast growing South American market. "The agreement came after a series of discussions...
New Maersk SeaLand brand on track for January launch Maersk Line's revived SeaLand brand will be ready to launch early next year to capture intra-Americas trade and grow its market share on the north-south routes, CEO Soren Skou said at the carrier's Copenhagen headquarters today. Addressing analysts and reporters at the Danish carrier's Capital Markets Day, Skou said the new...
Canal expansion to affect car-truck carriers Expansion of the Panama Canal will cause operators of pure car and truck carriers mimic container lines by building larger ships and cascading smaller ones to secondary markets, says consulting group Maritime Strategies International. Owners and shipyards "have been quick to seize the opportunity to develop new vessel designs intended to...
Fire 'snuffed out' at Port of Los Angeles; operations normal [Updated] [Editor's note: Updated on 9/24/2014 at 10:00 a.m. Eastern time] Container handling at the ports of Los Angeles and Long Beach was back to normal for Wednesday's day shift as the Los Angeles Fire Department declared Tuesday's fire at the Pasha breakbulk terminal to be completely snuffed out. Longshore workers had returned...
Drewry: Trans-Pacific spot rates continue freefall Three straight weeks of major spot rate drops have pushed trans-Pacific rates below $2,000 per container for the first time in seven weeks. Drewry's benchmark spot rate from Hong Kong to Los Angeles dropped to $1,874 per 40-foot container this week.Drewry's benchmark spot rate for 40-foot containers heading from Hong Kong...
2M in compliance with European regulations Maersk Line and Mediterranean Shipping Co. have completed the self-assessment of their proposed "2M" vessel-sharing agreement for European regulators, ensuring compliance with European Union law. Unlike in the U.S. and China, the two largest global container lines can launch their massive VSA immediately in Europe. There is always the possibility, however,...
Huge China investment opens doors for logistics developer GLP HONG KONG - Global Logistic Properties has completed the second and final tranche of its $2.5 billion agreement with a group of state owned companies and financial institutions in China that gives the company greater access to strategic property sites in one of the world's fastest developing markets. The consortium now...
Tanker tied to Chile spill An Empire Navigation-controlled products tanker suffered a minor spill at Chile's port of Quintero.
Carnival estimates rise Susquehanna Financial Group hiked its earnings expectations for Carnival a day after the cruise giant reported a better-than-expected third-quarter profit.
GasLog MLP prices offer GasLog Partners has priced a new share offering at a 4% discount to yesterday's closing price.
Aasen buys two Norway's Aasen Shipping has bought two 2006-built multipurpose ships from Dutch shipowner Wagenborg Shipping.
Anek ferry leaves Libya A Greek ferry that made headlines earlier this month for being used as a floating refuge for Libyan citizens and politicians has left the war-torn country and is returning to Greece.
UASC-Sud link-up Germany's Hamburg Sud is linking up with United Arab Shipping Company (UASC) in a global deal that will allow them to enter new trades only weeks after the Middle Eastern line joined the Ocean Three alliance.
Maersk plots $15bn upgrade Maersk Line is planning feet investments totalling $3bn a year over five years.
Hellenic takes NEL's route Hellenic Seaways will pick up the baton from NEL Lines in Greece's north Aegean region, after the latter had its licence shredded by the government two weeks ago.
FreeSeas sells again Greece's FreeSeas has confirmed the sale of its second bulker in a week as it continues to pay off bank debt.
Twin CEOs for HMM Hyundai Merchant Marine (HMM) has created a new management system to divide up the responsibilities of its top job.
Minerva cuts new turf A pioneering aframax fixture from Canada to Europe has raised hopes of a new trade for the tankers.
Shippers wary of 2M The European Shippers' Council (ESC) has raised concerns about the new mega-alliance between Maersk and Mediterranean Shipping Company (MSC) which is scheduled to commence in January.
Bulker freed in Parana A Maltese kamsarmax has been refloated four days after grounding in Argentina.
SeaZip adds two Netherlands' SeaZip Offshore has signed a contract for the construction of two fast crew suppliers (FCS) at Damen Shipyard Singapore.
Swallow your ego Shipowner Emanuele Lauro has urged peers to put ego to the side when it comes to takeovers that could prove beneficial to the industry.
Cosco orders 10 more China Cosco Holdings Co (CCHC) has followed up a big boxship order with another deal for 10 new bulkers worth $420.48m.
Fredriksen flexes muscles Fresh from almost completely selling out of Golar LNG, John Fredriksen has backed start-up Flex LNG by buying another $19m slice of its shares.
Ezra eases EOC deal Singapore's Ezra Holdings has agreed with EOC that most of the cash for a recent consolidation deal will be paid on a deferred basis.
HMM banks share cash South Korea's Hyundai Merchant Marine (HMM) has raised KRW 117bn ($112.5m) by selling new shares.
ABG presses on India's restructured ABG Shipyard is to complete and sell six delayed anchor-handlers cancelled by Shipping Corp of India (SCI).
Cahuzac pockets shares Oslo-listed offshore giant Subsea 7's CEO Jean Cahuzac has been awarded shares worth nearly $1m for meeting performance targets.
SDLP plans share sale Seadrill Partners is the latest maritime master limited partnerships (MLP) to launch a fresh round of fund raising.
Bahri names new CEO Saudi tanker owner Bahri has named Ibrahim Abdulrahman al-Omar as its new chief executive.
No Russian impact Viking Supply Ships says European Union and US sanctions against Russia are not expected to have any immediate impact.
LA port back on-line The Port of Los Angeles was set to resume full operations last night following a fire that broke out on Monday.
GasLog MLP preps offering GasLog Partners is preparing a sale of shares to help pay for the purchase of two LNG carriers from its parent.
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