The market is unfazed as Golar LNG posts a net loss The company pledges to retain its focus despite a drop in LNG rates
Piraeus claims 40% improvement in box-handling productivity But the state-owned PPA terminal lags behind the Cosco operation next door
US mergers and acquisitions return to mid-2000s high Expect more deals in the coming months, says Drewry
Ebola outbreak disrupts shipping schedules Vessels calling in disease-hit countries are being turned away from unaffected areas
Skou wins plaudits from industry peers Maersk turnround reflects rigid focus on costs and efficient ship operations
No freight rate recovery for years to come, warns Skou Maersk Line boss says strategy remains focused on cost-cutting as prices continue to drift lower
Cosco Pacific eyes further expansion in China and other countries Port unit of Cosco Group looks for long-term investments in emerging markets
Shipping weighs up the risks of ebola West Africa timecharters should cover all possible bases, says Stephenson Harwood
DP World takes control of Liège container terminal Emirati operator acquires Euroports' stake in Belgium's new trimodal venture
CIMC profits jump, but container earnings sag Largest box manufacturer posts 88% first-half gain on better non-box segment results and a tax break
Zim narrows its second-quarter losses to $67m Israel-based line reports lower revenues after cutting loss-making services
Capesize sales highlight breakers' price gap Demolition rates in the Indian subcontinent beat Chinese offers despite volatile sentiment
Capital Product wins shareholder support for incentive distribution rejig UPDATED: Backing paves way for five-ship expansion
Retailers push for US docker pact US West Coast ports could suffer if negotiations between dockworkers and boxship terminal operators drag on, warns a US retailers' group. In a letter on 25 August, Retail Industry Leaders Association (RILA) President Sandra Kennedy urged that a long-term contract be secured "in the immediate
Deltamarin sets up EPC offshoot Deltamarin, the Finland-based naval architecture and engineering group, has established a subsidiary to extend its services into engineering, procurement, and construction (EPC). "In order to serve customers better, the new company, Deltamarin Floating Construction, will focus on delivering
Eitzen Chemical predicts gradual rebound Eitzen Chemical, the listed Norwegian chemical carrier group, forecasts a recovery in its market despite suffering wider losses in the first two quarters of this year. In the second quarter, the group's net loss reached $24.8M, up from $24.4M in the same quarter last year, as revenue slipped to
ABS opens Beijing office ABS today announced the opening of an office in Beijing. The new office will focus on expanding ABS's collaboration with local enterprises, universities, and research organisations, said the classification society. "Our Beijing office will be central to our operations as we seek to expand our
Otto Marine orders 4 PSVs from Wuchang Otto Marine has signed contracts with China's Wuchang Shipbuilding Industry for building four platform supply vessels (PSVs) with the option of another four. The Singapore-listed offshore marine service provider is expected to receive the four 4,000dwt newbuildings in 2016 Based on designs from
Suria earnings rise on port operations Suria Capital Holdings reported first-half earnings up 14% year on year to MYR139.8M ($44.2M). However, the Malaysia-listed port operator's second-quarter profit slipped 2% year on year to MYR15.9M, despite revenue for the quarter rising 8% to MYR68.3M. Port operations - largely based in Sabah on
Indian ship recycling prices bounce back Ship recycling prices, which fell steeply in India two weeks ago, made a remarkable recovery last week as steel prices rebounded. The Indian rupee also inched up from INR61 to INR60 to the dollar. As a result, average prices rose by $5/lt ldt to $455/lt ldt for bulkers and $485/lt ldt for tankers.
CSSC to acquire or rent RSHI's yards Shanghai-listed China CSSC Holdings (CSSC) seeks to acquire or rent shipyards and facilities from Rongsheng Heavy Industries (RSHI), and not to acquire RSHI, according to local media. CSSC is to co-operate with RSHI, according to a source from Shanghai Waigaoqiao Shipyard. "There is no possibility
COSCO Pacific profits down 74% y/y in 1H14 COSCO Pacific, the terminal operating unit of Cosco Group, said its profits fell 74% year on year to $146.8M due to lack of one-off gains from disposal of a subsidiary last year. Excluding the one-off items, COSCO Pacific's profits rose 2% y/y to $146.8M on container throughput increase, a stock
Crew saved from sinking ship off Tianjin Port Twenty-two crew members on board a containership were rescued yesterday after it collided with another container ship off Tianjin Port. At about 11am local time yesterday, 500teu Tao Yuan collided with 3,500teu Gang Tai Tai Zhou at about 10 nm east of Dagukou Anchorage off Tianjin Port. The Beihai
Ships detained near Pengerang, Malaysia A marine gas oil tanker was detained by the Malaysian Maritime Enforcement Agency (MMEA) for anchoring in an unauthorised area in Pengerang waters in the state of Johor. MMEA spotted the Mongolian-registered vessel was anchoring at 2.4 n miles southeast of Tanjung Ramunia at around 18.00 hours on
Vessels seized over illegal fuel transfer The Malaysian Maritime Enforcement Agency (MMEA) has seized two vessels and detained the crew over an illegal fuel transfer off Muka Head, Malaysia. MT Moresby 9 and MT Victory Star were transferring 50,000 litres of diesel on 19 August near Georgetown in northwestern Malaysia when enforcement
China coastal shipping capacity shrinks China had 1,698 bulk carriers, 143 box ships and 1,401 tankers involved in coastal shipping as of June 30, reduced by 29, 21 and 12 vessels, respectively, from the end of 2013, announced the Ministry of Transport yesterday. Bulk shipping capacity saw the first drop in recent years, decreased by
VLGC rates maintain flat-to-firm range Freight rates to haul LPG on very large gas carriers continue to soften but remain above $100/tonne. As of yesterday, the Baltic Exchange assessed the rate for the benchmark Gulf-Far East route at $103.857/tonne, down from $104.286/tonne a week ago. At current bunker prices in Fujairah, UAE, that
China imported 35% less Indonesian coal in July China imported less coal from Indonesia in July, marking the second consecutive month of lower year-on-year imports. China imported 4.7M tonnes of Indonesian coal in July, down 35% y/y. Imports were also lower than the 5.1M tonnes imported in June. Shipments from Indonesia to China in the year to
Otto Marine wins contracts worth $53M Singapore-listed offshore marine service provider, Otto Marine has clinched time charter contracts with two oil majors for its deepwater anchor handlers, GO Sirius and GO Spica, worth AUD57M ($53M). Both vessels will be deployed in Australian waters and operated by Otto Marine's wholly owned
CIMC profits up 88% y/y in 1H14 Hong Kong and Shenzhen-listed China International Marine Containers (CIMC) today said its profits rose 88% year on year to CNY1Bn ($162.5M) on the profits incurred by its offshore sector and reversal of withholding tax. CIMC's revenues also rose 12% y/y to CNY32Bn in the first half in 2014, a stock
CN to end intermodal service to Auburn, Maine Canadian National Railway announced that it will discontinue intermodal service to a rail hub at Auburn, Maine, effective Nov. 15, due to insufficient freight volume. The 35-acre terminal, which originally opened 20 years ago, was heralded as a Northeast intermodal gateway for trans-Pacific cargo moving through ports on the Canadian West Coast,...
Shippers send more freight to 3PLs as US transport capacity tightens An increase in U.S. manufacturing activity and imports is driving business to third-party logistics companies as shippers turn to 3PLs for freight capacity on highways and rails. Total shipments handled by 3PLs surveyed by the Transportation Intermediaries Association rose 7.2 percent year-over-year in the second quarter, and jumped 8 percent from...
Carriers' logistics strategy 'unraveling,' Alphaliner says Carriers' strategy to bundle logistics services with container shipping services appears to be "unraveling," according to Alphaliner's latest newsletter. Damco, the logistics arm of Maersk Group, reported a third consecutive quarter of operating losses last week, and said it expects to end the year in red after grappling with a restructuring effort...
ILWU ratifies four-year grain contract The International Longshore and Warehouse Union ratified a new collective bargaining agreement with grain handlers in the Pacific Northwest, spelling the end to an embittered, two-year battle between the two parties and allowing the union to focus on still-unresolved coastwide container talks. The Federal Mediation and Conciliation Service announced that a...
Building on 3D printing I wrote about the newly emerging technology of "additive manufacturing" this time last year ("Manufacturing's Next Revolution") and the envisioned impact it would have on global supply chains. To recap, additive manufacturing, also referred to as 3D printing, builds an article from the ground up by literally adding layers of...
US shippers face long delays at Prince Rupert port U.S. shippers are finding that hedging their bets against possible U.S. West Coast port disruptions by shipping cargo through the Port of Prince Rupert comes with a catch: long delays before imports can be loaded onto the rails. Shippers using the Canadian west coast port were seeing delays on average of...
CSAV revamps India-Europe loops Export container volumes from the Indian Subcontinent and the Middle East to Europe were up year-over-year throughout the first half of 2014. Full-size chart CSAV has announced plans to introduce a new weekly service, the IMEX Sling 1, connecting the Indian subcontinent, the Middle East and North Europe, starting in late October. As...
Alabama port buys land for expansion Aerial photo of Port of Mobile showing land Alabama is acquiring for expansion. The Alabama State Port Authority has paid $25 million to acquire a 35-acre dockside tract for future expansion of Mobile's container terminal and a 63-acre industrial site a half-mile from the harbor. Both properties are adjacent to the port's...
Cosco Pacific terminals report surge in first-half volume HONG KONG - Robust container throughput in the first half drove up Cosco Pacific terminal revenue by 18.9 percent as strengthening trade saw a total of 32.48 million 20-foot containers crossing the state-owned group's wharves. The 10.1 percent rise in volume helped all its terminals record revenue growth in the first half,...
No swift decision by US in 53-foot box subsidy probe, says CIMC HONG KONG - The world's largest container manufacturer, China International Marine Containers (CIMC), does not expect the U.S. government's antidumping and countervailing duty investigation to be resolved before May next year. CIMC and the world's number two box maker, Singamas, are facing an ongoing investigation by the U.S. International Trade Commission over...
Middle East-based feeder line to begin Tuticorin-Colombo service Middle East-based Simatech Shipping has announced the launch of a fortnightly feeder service linking Dakshin Bharat Gateway Terminal, a new private facility in India's Port of Tuticorin (V.O. Chidambaranar), with Colombo, Sri Lanka, starting this month. "Simatech will thus be able to connect Tuticorin exports and imports at Colombo where it...
Salvage effort continues A leading Hellenic salvage contractor has firmed up a deal to refloat a bulker that ran aground off the Greek island of Oinousses late last week.
SALT torpedoes rumours Scorpio Bulkers is pouring cold water on reports that it has inked a contract to construct another series of kamsarmax bulkers at a shipyard in China.
Petrobras takes AHTS A leading offshore contractor has lined up a lengthy time charter for one of its anchor-handlers.
Bocimar torches orders Bocimar has pulled the plug on four handysize bulkers under construction at Weihai Samjin Shipyard in China.
Cape for Cargill Cargill has added a Chinese-owned capesize bulker to its chartered fleet, brokers say.
GLNG delivers Golar LNG turned in a second quarter loss Tuesday but the results were in line with Wall Street forecasts.
Dorian ship detained Issues with safety equipment contributed to the detention of a Dorian LPG-owned ship in the UK.
Takeover talk returns A potential merger between Knightsbridge Tankers and Golden Ocean will again be in focus tomorrow as the Oslo-listed bulker owner issues its second quarter report.
Topaz makes less Offshore shipping company books smaller profit in the second quarter of 2014.
Fund cuts Clarksons stake One of the largest investors in Clarksons has sold some of its shares in the giant shipbroker.
Reach books profit Oslo-listed Reach Subsea has recorded a profit for the second quarter of 2014 thanks to high utilisation of its fleet.
Kogas tender drives stocks Battered South Korean shipyard shares received a boost today as Korea Gas Corp (Kogas) released a long awaited tender for six LNG carriers.
HHI orders slump Major shipbuilder Hyundai Heavy Industries (HHI) has seen its orders fall between January and July, aligning with the company's second quarter loss and share drop.
Bond question back Attention is again focused on how Frontline will tackle a convertible bond repayment as the tanker owner prepares to report its second quarter accounts.
GE ships out tanker India's Great Eastern Shipping is selling its oldest tanker for scrap.
Cosco Pacific better Cosco Pacific has recorded a rise in underlying first half profit aided by higher volumes.
Eitzen comes up short Eitzen Chemical has reported a disappointing second quarter with figures coming in well below analysts' estimates.
Backlog reaches $3bn Pacific Drilling has taken its contract backlog to $3bn following a contract extension with Chevron for one of its drillships.
Otto orders at Wuchang Singapore's Otto Marine has ordered up to eight PSVs at China's Wuchang Shipbuilding Industry, it has been confirmed.
Otto ties up two Otto Marine has tied up two of its anchor handlers on time charters with two oil majors in deals worth AUD 57m ($53m).
NEWS FLASH: ILWU reaches deal with Pacific Northwest Grain Handlers The agreement with the Pacific Northwest Grain Handlers Association ends a lockout at Portland's Columbia Grain and Vancouver, Wash.'s United Grain facilities that had been going on for more than a year.
Port of Portland takes reefer work away from ILWU In a letter to the president of Local 8 of the dockworkers' union in Portland, Bill Wyatt, executive director of the Port of Portland, said the port authority had made the decision because of poor productivity at its Terminal 6 container facility.
Maersk sells U.S. headquarters, moves "We are satisfied with the outcome of the sale of the Giralda Farms building and have recently moved into modern, newly renovated offices and maintained our connection to the Morris County area of New Jersey," said Maersk spokesman Tim Simpson.
APM Terminals completes sale of Virginia Terminals The company said the sale of its terminal in Portsmouth, Va., has been concluded with a partnership comprised of affiliates of investment funds managed by Alinda Capital Partners and Universities Superannuation Scheme (USS).
George W. Pasha III, import autombile pioneer, dies The 79-year-old chairman and former chief executive of the Pasha Group died last week in Lake Tahoe, Calif. The company has operated a ro/ro vessel in the U.S. mainland-Hawaii trade for years, in addition to offering an array of other services.
Alabama port authority buys industrial properties
ABS opens new Beijing office
RILA urges ILWU and employers to reach contract deal
Truck groups want restricted CSA data access
U.S. supports wind power export loans to Peru
Yusen Logistics offers transatlantic LCL service
Washington Notebook: NTSB kicks out UPS, union from crash investigation
BIMCO surveys shipowners on biofouling management Ship managers and operators also asked to take part.
Denmark in push to strengthen ECA sulphur checks Danish shipping companies said to be losing market share to those that are not signalling ECA-related cost increases.
Avails tight in Rotterdam Fuel oil avails said to be tight in Istanbul.
Fujairah sees weak demand Distillate prices soft in Durban and Cape Town.
Study examines 'well-to-hull' emissions of ECA fuel alternatives Finds in favour of LNG on both air quality and GHG emissions when compared with conventional marine fuels.
Tanker detained in Singapore Ship's manager cited in earlier arrest.
Asian IFO rates trading in flat range Most key ports saw average to above-above demand on Tuesday.
Wartsila upgrades LNG fuel-handling system Product will be at Norwegian trade show this week.
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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