Panama faces new labour accusations The International Transport Workers' Federation (ITF) has alleged that the Panama Canal Authority (ACP) is breaching the country's commitments to global labour principles. In a statement on 24 November, ITF general secretary Steve Cotton claimed that the ACP's attempt to close down tugboat captains
Cruising's China race intensifies Hours after Carnival Corp announced a possible Chinese shipbuilding joint venture, Royal Caribbean confirmed its own joint venture targeting Chinese cruisers. According to a statement after market close on 21 November, Royal Caribbean's new JV is called SkySea Cruises. Royal Caribbean will own 35%,
Oil & Gas UK updates FPSO operations guidance Oil & Gas UK has today issued two updated sets of guidelines to help operators of floating production storage and offloading facilities (FPSOs), floating storage units (FSUs), and offtake tankers to adopt advances in industry good practice. "Issue 2 of the Mooring Integrity Guidelines provides
Far East cargo surge lifts Hamburg The Port of Hamburg today posted an almost 6% rise in cargo throughput for the first nine months, with double-digit gains in container volumes on trading links with Asia. Clawing back market share from its competitors, Rotterdam and Antwerp, the port has seen a 5.7% growth across all commodities
Qingdao Port strengthens ties with DP World China's Qingdao Port Group and Dubai's DP World entered a strategic framework agreement to enhance co-operation on 17 November. Both parties, under the framework agreement, intend to explore ways for further business growth based on a study of current liner services and trade volumes between their
BeiDou satellite network gains IMO recognition China's BeiDou Navigation Satellite System was officially recognised by the IMO as part of the organisation's World-Wide Radio Navigation System (WWRNS) at the 94th Session of the Maritime Safety Committee (MSC), said China's Ministry of Transport today. The circular on safety of navigation of
CMA CGM almost triples Q3 profits Third-ranking container line operator CMA CGM nearly tripled its third-quarter profits year on year, reporting net income up from $70M in Q3 2013 to $201M this year. Cargo carryings reached their highest level in the group's history, rising 8.3% over Q3 last year to 3.2M teu, while turnover
Rickmers-Linie sheds charter capacity Project and breakbulk shipping line Rickmers-Linie is forging ahead with a restructuring programme to cut losses. The scheme has seen its charter ship fleet cut back, operations and administrative processes reshuffled, and wage costs reduced, the line's CEO, Ulrich Ulrichs, told IHS Maritime.
Port of Antwerp blocked by strike Ship movements were at a standstill at the port of Antwerp today as dockers and other port service workers took part in the first of a series of 24-hour regional strikes over austerity measures planned by the Belgian government. A port spokeswoman told IHS Maritime that around 50 ships were waiting
Subsea 7 in up to $100M contract with Shell Subsea 7, the London-based seabed to surface construction company, says it has been awarded up to a $100M contract by Royal Dutch Shell for installation work in the Gulf of Mexico. "The contract value is in the range of $50M to $100M," Subsea 7 said. "The contract scope of work involves the
Syria court orders CMA CGM chairman payout to brother CMA CGM is ready to take legal action in Syria following reports that an appeal court in Damascus has ordered chairman Jacques Saadé to pay his brother, Johnny, more than €500M in a long-running legal battle over ownership rights in the company. French press agency AFP, which said last week
Australian crew stages sit-in on tanker Australian seafarers onboard the 30,040gt Tandara Spirit tanker are refusing to sail from Melbourne in protest against the loss of Australian shipping, fuel security, and jobs. Speaking with IHS Maritime on behalf of the crew, Kevin Bracken, Victoria Branch secretary of the Maritime Union of
Korea analyst warns against 'cheap' shipbuilder stocks Buying the most undervalued stocks, or allocating according to market capitalisation, is not advisable when choosing Korean shipbuilder stocks, according to a shipping analyst. Samsung Securities analyst Youngsoo Han said, "Korea's shipbuilders displayed a correlation co-efficient with the
APMT aims to conclude Tema extension agreement early next year APM Terminals hopes to reach final agreement on construction of a $1Bn-plus container terminal at the Ghanaian port of Tema during the first quarter of next year with the aim of opening the first part of the development before the end of 2016. Last week, the group announced it had signed a
One dead, two injured after lifeboat accident Accident investigations are continuing this week into the death of one seafarer and serious injuries to two other crewmen on a chemical tanker off the coast of Germany last week. The incident happened onboard the 11,951 GT chemical tanker MTM Westport, owned by MTM Westport of Singapore. The ship
Offshore key to BV expansion Offshore will be key to the 2015 expansion plans of Bureau Veritas (BV), Philippe Boisson, legal adviser to its marine and offshore division, told a year-end reception last night. BV, which in August acquired London-headquartered MatthewsDaniel, a key provider of loss adjusting and risk assessment
Petra Energy returns to black in 3Q14 Malaysia-listed Petra Energy, a provider of brownfield services for the upstream oil and gas industry, recorded a profit of MYR8.1M ($2.4M) in 3Q14 ended 30 September 2014, compared with a loss of MYR3.5M in 3Q13. The improved results came from a 50% increase in revenue of MYR173M in 3Q14, compared
Mediterranean transhipment migrates south Europe's Med ports are continuing to lose out in the transhipment market to newer, more efficient container terminals in north Africa, according to a report by an Italian economic research centre. The report by the Research Centre of the Mezzogiorno, which is run by the Intesa Sanpaolo banking
Coastal Contracts 3Q14 net profits up 37.4% Malaysian offshore support vessels (OSV) fabricator Coastal Contracts posted a 37.4% year-on-year increase in net profits to MYR54.3M for 3Q14 ended 30 September 2014, largely spurred by scheduled upgrades and fleet renewals by asset owners. Net profit in the corresponding period last year was
SHI gains short-term boost from failed merger The scrapped merger plan between Samsung HI (SHI) and its affiliate Samsung Engineering lifts the short-term earnings outlook of SHI as there was concern that the engineering unit's losses would hurt SHI's bottom line, said an analyst in a research note. Daishin Securities analyst Feynman Jeon
OW Bunker chairman startled by DOT trading loss Denmark-headquartered OW Bunker's chairman Niels Henrik Jensen was "extremely surprised" by the huge trading loss incurred of its Singapore-based subsidiary Dynamic Oil Trading (DOT). Jensen said that the management of OW Bunker did not approve the credit line around $120M and $130M, given by DOT
Marco Polo year-on-year profits down 39% Singapore-listed integrated marine logistic company Marco Polo Marine (MPM) posted a year-on-year drop of 39% in profits to SGD2.51M ($1.9M) during 4Q14 ended 30 September 2014. Revenue dropped 17% to SGD23.6M at 30 September 2014 from SGD28.4M at 30 September 2013. The lower earnings derived from
Data Hub: Trade Routes Oil, containers and the Middle Eastern paradox
Diana Containerships sees charter rates inch up Company sees profits despite fewer ownership days
Navios results reveal capesize acquisition New York-listed company's revenues jump thanks to logistics subsidiary
Hamburg increases container market share in northern range German port outstrips its rivals as box traffic grows 6.4% in the first three quarters of 2014
Can Costa Concordia be a flagship for European ship demolition? Breakers will have to fight to compete with Asian yards on price, but can they beat them on quality?
Angelicoussis swaps VLCCs for new LNGs at DSME Greek owner books up to four new LNG carriers with Korean yard
Louis charters cruise vessel from KfW Ex-Olympic Explorer will be third ship for new brand Celestyal Cruises
South California congestion boosts Oakland box traffic Diverted cargo helps the port to record its biggest gain in imports for six months
Zim targets fourth-quarter profit Israeli shipping line expects to see further improvement as it benefits from a full quarter of restructuring-related savings
CMA CGM posts $201m net profit and confirms 18,000 teu deliveries in 2015 UPDATE: Third-quarter volumes hit a record high and the firm forecasts a strong final three months
Antwerp disrupted by regional strikes Unions' protest over government austerity measures causes slowdown at Europe's second-largest port
CMA CGM posts net profit of $201m in third-quarter on record volumes French line confirms Ocean Three alliance on track to launch n early 2015
Industry viewpoint: shipping fortunes face the big squeeze Shipbuilding investment is creating a permanently overtonnaged industry
Tough times ahead for US shippers, FTR warns, as port woes continue FTR Associates predicts "a very tough operating environment in early 2015" for U.S. shippers dependent on congested ports. The typical slowdown in freight tonnage during winter months will offer only a "minor and short-term reprieve" from higher U.S. transportation costs, Jonathan Starks, FTR's director of transportation analysis, said in a...
Hamburg works to overcome schedule and hinterland challenges With worsening delays at the Port of Hamburg, port leaders are hoping that newly formed alliances will improve on-time arrivals while at the same time seeking ways to improve the flow of containers to and from the hinterland. Delays are worsening on arrivals at Hamburg, especially for the largest ships that...
As freight demand rises, LTL carrier Holland moves to larger HQ The nation's largest regional less-than-truckload carrier is moving to larger digs. Holland will add another 35,000 feet to its headquarters as it shifts to an 85,000-square-foot building. "Our new location will give us the room we need to better serve Holland customers," Scott Ware, president of the 10th-largest U.S. LTL trucking...
Shippers rethink supply chains as LA-LB congestion pushes up costs Congestion and delays at the Los Angeles-Long Beach port complex continues to push up spot truck rates for shipments moving inland, according to DAT Solutions. For van freight, the average spot market rate from Los Angeles to Phoenix was $3.11 per mile in the week ending Nov. 15, down 3 cents...
Diana Containerships swings to net income gain on higher charter rates Diana Containerships swung back to profitability in the third quarter, reporting a net profit of $1.4 million on higher charter rates after losing $700,000 in the same period a year ago. The company's time charter revenue rose 18 percent year-over-year increase to $13 million net of prepaid charter revenue amortization. The...
Emirates expands Asia to East Africa services Emirates Shipping Line on Monday said it will expand its services connecting Asia and East Africa into two fixed-day weekly services that will ensure that "port delays do not impact the quality of service on either loop." The two new services, called the Asia Tanzania Express (ATX) and Asia Kenya Express...
CMA CGM profits triple in the third quarter CMA CGM's net income almost tripled in the third quarter as the French carrier's container volume surged to an all-time high. The results support the trend in which the largest carriers in the world are also the most profitable. Net income jumped to $201 million in the three months through September...
Strike brings Belgium ports including Antwerp to a standstill The port of Antwerp is at a standstill as dockers stage a 24-hour strike to protest the Belgian government's austerity program aimed at reducing the country's soaring national debt. Market Share in Northrange Ports - 2Q2014; Source: HHLA Full-size image The ports of Zeebrugge and Ghent have also been brought to a halt...
DFDS profits rise despite Russian sanctions, route closures DFDS's third quarter profit soared 17 percent even as northern Europe's leading short-sea shipping and logistics operator closed routes and rejigged its network as Russian sanctions hit its key Baltic trades. The Danish shipping and logistics company's operating profit grew to 423 million krone ($70.5 million) in the three months through...
Evergreen extends profitable run since joining CKYHE HONG KONG - Evergreen Marine recorded an $80 million net profit in the three months ending Sept. 30. as the carrier added a second profitable quarter since joining the CKYH Alliance in March. Capitalizing on the network benefits and lowering transhipment costs enabled Taiwan's largest carrier to significantly boost its earnings...
Christmas cargo driving congestion, Philippine officials say HONG KONG - The Philippine' cabinet cluster on port congestion, directed by cabinet secretary Jose Rene Almendras, will gather for a port forum on November 27 in Manila as officials struggle to address the bottlenecks that have troubled the gateway since late February. This latest meeting comes just a week after...
Aegean sees red Aegean Marine Petroleum posted a third-quarter loss Monday but the company is confident that the tides will turn in the coming year.
Exxon sells second suezmax It appears that ExxonMobil's US shipping subsidiary has entered the final leg of a race to sell two of its Jones Act tankers.
Deval ship saves trio A Turkish bulker has rescued the crew of a sailing vessel in distress off Florida and safely delivered them to dry land.
Gleeson goes for more A flood of criticism following a below par third quarter performance has not prevented BW LPG chief executive Nick Gleeson from topping up his holding in the world's largest VLGC owner.
Technip takes newbuilding Reach Subsea and Eidesvik Offshore are celebrating a firm contract for a newbuilding that marks the start of a collaboration project.
Passengers save ferry Passengers used GPS on their smartphones to guide a lost ferry back into Mumbai, India.
Why miss all the fun? RS Platou Markets has questioned why tanker investors are standing on the sidelines while owners are making all the money.
Solvang earnings soar The LPG carrier company said net profit was NOK 24.6m ($3.62m) to 30 September, compared to NOK 11.3m in the same period of 2013.
Diana back to black Diana Containerships has ridden its increased revenue to a profitable bottom line during the third quarter despite a drop in operating days.
Solvang sells share Norway's Solvang has offloaded a share in a 2008-built gas carrier for a small profit.
Skangass seals Eni deal Nordic supplier Skangass is to ship LNG from Belgium to Sweden in a new deal with Eni.
Navios reveals cape deal Navios Maritime Holdings confirmed the purchase of a capesize bulker from Berge Bulk as it reported a deeper than anticipated third quarter loss today.
Maersk tipped for MR swoop Maersk Tankers is tipped to have snapped up a quartet of medium range (MR) resales from a Greek owner in the latest expansion of its products tanker fleet.
DP teams with Qingdao Dubai's DP World has further strengthened its ties with Qingdao port in China after signing a strategic framework agreement to enhance port cooperation.
CMA CGM linked to OPDR France's CMA CGM is reportedly plotting a takeover move for German containership owner OPDR.
UK job for Fugro Netherlands' Fugro has won a geotechnical contract by DONG Energy that will see two of its vessels join investigation work for a big offshore wind project.
CMA CGM hits a peak French container line CMA CGM carried a record number of boxes in the third quarter as earnings jumped.
Belgium hit by strike Belgian port workers have walked out on Monday in a pay dispute.
Tsakos sees two bumper years New Intertanko chairman Nikolas Tsakos has predicted a couple of strong years ahead for the tanker market.
U-Ming on the rise Taiwanese bulker owner U-Ming Marine Transport has posted an increase in third quarter earnings as revenue grew.
EA launches IPO Malaysia's EA Technique is planning to raise up to MYR 74.2m ($22.13m) in a domestic IPO to expand its fleet.
Skaugen strikes Pareto pact IM Skaugen of Norway has changed tack on the sale of a gas carrier after drafting a deal with Pareto.
American Club seeks 4.5% The American Club is to seek a 4.5% general increase at the February renewal of protection and indemnity cover.
RCCL responds over China Royal Caribbean Cruises Ltd (RCCL) is hitting back in the battle to win Chinese market share with a new joint venture.
Moller sights $550m more AP Moller-Maersk has set its sights on a further $500m chunk of its own stock after completing the first phase of an inaugural share buyback programme.
Shell boosts Subsea 7 Oslo-listed Subsea 7 has won a new Shell contract in the Gulf of Mexico worth between $50m and $100m.
Schulte eyes Indian growth Germany's Bernhard Schulte Shipmanagement is targeting an expansion of its crewing activities in India.
MPM profit down 39% Lower revenues and increased costs have combined to drag down Marco Polo Marine's (MPM) net profit by 39%, latest figures show.
Communication lesson BW LPG has promised better communication with investors and analysts after the debacle over its third quarter results.
Statoil cans Stena charter Statoil is set to take a $350m charge to cancel the long term charter of a drillship owned by Stena Drilling.
Atalanta extended The European Union's (EU) counter-piracy Operation Atalanta has been extended by two more years until December 2016.
BGC extends GFI deadline BGC Partners has extended its offer to acquire GFI Group after failing to convince enough shareholders to back its bid.
Aegean's Q3 revenue up 13% year-on-year Marine fuel sales up 18.5% by volume, up 13% by value.
The 9/11 of the Bunker Industry Maybe we will refer to November 7 - the day it became clear OW Bunker had collapsed - as a day that changed everything in our niche industry.
MGO: Why it is attractive to pirates and what can be done about it Senior fellow at Singapore's Nanyang Technological University offers some theories.
Ambiguity in application of IGF Code to gas carriers Difficulty in setting clear parameters for when gas carriers must also apply new regulation for gas a fuel.
Russian fuel oil production climbing Volumes up 8.7% year-on-year.
OW's US subsidiaries seeking share of debts direct In bid to secure at least $100 million to pay creditors rather than money going into a 'black hole' in Denmark.
Baltic LNG project: 'Demand is there' Companies back plans for Klaipeda terminal.
Belgian port strike bites 24-hour stoppage over wage demands disrupts shipping.
ISO invited to develop standard for LNG bunkering connectors Introducing standard early can help avoid the need for 'arsenal' of flange adaptors used in the bunker industry today.
Brightoil confirms new CEO hire Former Sinochem director starts new role this Monday.
Spanish yard develops LNG feeder vessel STS operations possible with new ship design, says company head.
WFS declares quarterly dividend Amount is similar when compared to earlier dividends.
Ex-Cosco executive gets 10-year sentence Cosco Group has been involved in a series of corruption scandals.
BIMCO: Lower fuel bill benefits shipping industry But marine fuel remains big operational cost, says analyst.
Russian authorities mull dual-fuel vessel buys Authorities show interest in newly-developed ice breaker design.
Dan-Bunkering expands operations in Denmark Firm to start trading from new Aalborg office in December.
Progress on Russian multipurpose bunker tanker project Ship ordered by Tuaspe port.
Yearly profits half at Singapore-listed group Lower bunker tanker charter rates drag down overall results.
Brightoil expands Singapore bunkering operations Firm will be adding another bunker tanker to its fleet at the republic, Director tells Bunkerworld.
IMO to work on detailed BDN for LNG bunkering Proposed BDN would include parameters to define gas quality specifications at delivery.
Japanese fuel oil demand has been falling Tokyo bunker prices are close to a four-year low.
Alliances 'should not discuss surcharges' European Shippers' Council has repeated its call for a global authority to keep Vessel Sharing Alliances in check.
Orient Overseas (International) Limited (OOIL), the subsidiary of the Chinese shipping group COSCO Shipping Holdings that operates containerized maritime transport services with ...
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