Canada pushes ahead with plans to export crude on tankers Ottawa seizes the opportunity as Washington ponders overseas shipments
Maersk denies Brazil Petrobras tanker contract bribe claims Danish shipping giant stresses its policy of working against corruption
Lloyd's Register wins DFDS vessels Danish operator cuts costs by consolidating its fleet under one class society
Gard announces $89m surplus Fifth year of reductions to deferred calls from Scandinavian P&I club
Ship Finance International targets growth across segments A diverse asset base is key for company from the Fredriksen stable
Rumours, shingles and shellfish - lunch with Braemar ACM Lloyd's List sits down with newest shipbroker on the block
ILWU push for a two-year contract puzzles port employers Union leaders' chosen expiry date would fall before the 2016 US presidential elections
Charter rates point to improving panamax demand - but will it last? Braemar Seascope reports vessels being fixed for more than $10,000 per day
STX Dalian firms apply for court receivership Dysfunctional yard and affiliates seek to restructure business
NordLB reverses its losses to post $181m first-quarter earnings But chairman says the bank 'continues to build up high shipping loss provisions'
Attica Group seeks strategic partners as it posts a lower first-quarter loss Ferry owner negotiates with outside investors and aims to reach a deal with its banks
Exmar LPG sells VLGC and midsize gas carrier as it culls older tonnage Joint venture with Teekay LNG nets $44m selling vintage ships to unnamed buyer
First-quarter results see Frontline ease its losses But group faces further financial restructuring if tanker markets weaken
Eastern Pacific Shipping books up to four LPG carriers Hyundai Mipo Dockyard wins two firm 38,000 cu m ships for $102m and two optional ones
Thome Ship Management appoints tanker operations chief Madsen brings experience from Maersk, Nordic Tankers and Herning
Frontline sees volatile 2014 as overcapacity returns Frontline, the listed VLCC and Suezmax operator in John Fredriksen's business empire, expects crude carrier freight rates to remain volatile for the rest of the year. This is because overcapacity has returned to haunt the business, said Jens Martin Jensen, CEO of Frontline Management, in a
Ardmore unveils MR purchase NYSE-listed Ardmore Shipping Corporation today professed to be "very happy" with the $36M price it paid for a 2013-built eco-design MR chemical and product tanker. The 49,997 dwt vessel, delivered last July from STX Offshore & Shipbuilding in South Korea, is expected to join the Ardmore fleet in
Heavy weather sinks Seychelles cargo vessel Ten people were rescued after an inter-island cargo schooner sank yesterday afternoon in Seychelles. Arc en Ciel, owned by Gerald Rose, left the Inter Island Quay in Victoria, Mahé, at about 13.15 local time. It got into trouble about an hour later in deep water off the Mamelles rocks en route to
Ship Finance profit surges Ship Finance International (SFI) has increased its quarterly dividend on the back of a better-than-expected profit for the first three months of the year. Ole Hjertaker-led SFI today announced a 1Q14 net profit of $41M, or $0.44 a share, which was higher than the consensus EPS of $0.32 expected in
Dynamic Oil Trading predicts more consolidation among bunker companies Singapore-based bunker trader Dynamic Oil Trading said today that more consolidation should be expected in the industry due to continued demand for credit. Dynamic Oil Trading, led by Lars Moller, said liquidity and credit are the greatest challenges when it comes to fuel oil supply. The company
Chevron receives PureNOx systems Alfa Laval has delivered PureNOx systems to Chevron Corporation that clean scrubber water in the exhaust gas recirculation (EGR) process that prevents NOx emissions during combustion in the ship's engine. The PureNOx systems will be used on two lighter newbuilds powered by MAN B&W 6G70ME-C9.2
Maersk ships use exhaust gas recirculation tech A.P. Moller-Maersk container vessels Alexander Maersk and Maersk Cardiff have reported fuel savings and reduced nitrogen oxide emissions (NOx) using exhaust gas recirculation (EGR) technology. EGR prevents the formation of NOx during combustion in the ship's engine. Alfa Laval, which is developing
Kistefoss fails to gain full control of Transatlantic Kistefoss, the investment vehicle of Norwegian businessman Christen Sveaas, has failed to gain full control of Rederi AB Transatlantic, the listed Swedish industrial shipping and offshore services group. Kistefoss offered SK5.00 ($0.6) per share in Transatlantic in a bid that was unveiled on 24
Adriatic hosts largest box ship North Adriatic ports have initiated calls by larger box ships as part of their strategy to tempt container business away from northern range ports by expanding their combined capacity. Last Saturday the 8,500teu CMA CGM Cendrillon made its maiden call at Trieste's Marine Terminal, which handled
Frontline cuts losses but warns it may need second restructuring Frontline, the listed VLCC and Suezmax operator in John Fredriksen's business empire, has cut losses in 1Q14, but it warned that the current quarter is likely to lead to another loss and the company may need second restructuring. Group net losses narrowed to $12M in 1Q14 from $18.8M in the same
Frontline 2012 to streamline tanker operations next Frontline 2012, the growth vehicle in commodity shipping in John Fredriksen's business empire, is looking to streamline its tanker operations after the transfer of its VLGCs to Avance Gas Holding and Capesize dry bulkers to Knightsbridge Tankers. "The next step in the process of streamlining the
LNG tugboat to be built in Middle East Drydocks World, Wärtsilä, and Dubai Maritime City (DMC) have teamed up together under a memorandum of understanding to build the first LNG-powered harbour tugboat in the Middle East. It will be delivered within the next 12 months. It will reduce nitric oxide and nitrogen dioxide emissions by 85% and
China-Japan shipping may not improve Container shipping between China and Japan has hit rough seas as trade volumes continue to drop and overcapacity remains a problem. Japan was China's fifth-largest trade partner last year, and data from China's General Administration of Customs (GAC) showed that the total value of Sino-Japan trade
Synapsis navigation tech for Windpark service vessels German navigation system manufacturer Raytheon Anschütz will supply the advanced Synapsis Integrated Navigation System (INS) to two new state-of-the-art windfarm service vessels that will be ready in December 2014 and March 2015. The systems, which meet the classification society's DNV GL's DNV
China's weak iron ore market hurts freight rates China's weak iron ore market is dragging down freight rates. Iron ore freight rate from Tubarao, Brazil, to Qingdao, China, has dropped by 9.7% from the high $20.4/tonne in May to $18.6/tonne this week. The price of imported iron ore to China started to reduce in the past two weeks, according to the
China to issue navigation guidance for Arctic route A navigation guide for the Arctic route by China's Ministry of Transport is to be published in June. This guide will provide charts, routes, sea ice, meteorology and other navigation information to Chinese vessels on the Arctic route. Donghai Navigation Security Center, together with China's Arctic
South Korea to set up safety communication network In response to the Sewol disaster, the South Korea government announced today that it will establish a safety communication network nationwide by 2017 to better prepare for national disasters. Among the issues that arose in the handling of the 16 April disaster, in which 304 of the Sewol's 476
Chonghaejin owner charged with manslaughter The owner of the Sewol ferry will be charged with manslaughter after an investigation revealed he was told of the vessel's stability problems before its fatal capsize on 16 April, prosecutors have said. A joint prosecution-police investigation team announced yesterday that Yoo Byung Eun, the owner
COSCO Corp wins four more PSVs COSCO Corporation (Singapore), the Singapore-listed shipbuilding and drybulk unit of the China COSCO group, has announced that a Singapore-based customer has ordered four platform supply vessels. The vessels, worth a total of $120M, would be constructed by COSCO (Guangdong) Shipyard. The vessels are
STX Dalian files for receivership in China Following months of speculation and denial, the Dalian yard owned by the troubled STX Offshore & Shipbuilding (STX O&S) has officially filed for receivership in China. A statement from STX O&S said its six branches filed for court receivership with the Chinese court in Dalian, China, and the
Surge in US Distribution Center Construction U.S. vacancy rates are trending down. Full-size chart Despite a surge in distribution center construction in the U.S., shippers and logistics firms are still clamoring for space, according to commercial real estate firm JLL. Completed industrial projects in the first quarter - mostly distribution centers - were over 90 percent higher than in...
Global Air Cargo Demand Slowing The global air cargo market saw demand grow 3.2 percent in April from a year earlier, but traffic was down from previous months due to a further slowdown in emerging markets, led by China, according to the International Air Transport Association. Middle Eastern carriers continued to put in the best performance,...
Cargolux Axes China Deal Broker Robert Song, Cargolux's senior vice president and head of Asia Pacific, has been ousted just weeks after brokering a deal that saw Henan Civil Aviation & Investment Co. (HNCA) acquiring 35 percent of the Luxembourg freighter operator. A statement from Cargolux said the airline and Song had "mutually agreed to terminate...
Rising China Orders May Support June GRIs Carriers on the Asia-Europe trade will have growth in China's new export orders and growing factory output for support as they try to levy general rate increases in June. New export orders in China hit a three-year high this month to boost manufacturing, according to the HSBC flash purchasing managers' index....
Trucking Hiring Standard Proposed for US Shippers, Brokers U.S. shippers and freight brokers would have to ensure trucking companies are registered with federal authorities, have adequate insurance and have a "satisfactory" or "conditional" safety rating before hiring or contracting them, under legislation unveiled last week in the House of Representatives. The bill, introduced by three Republican members of Congress,...
Terrible Toos: Too Much, Too Soon By several measurements, freight growth is accelerating as we approach midyear and will continue in this promising direction for the remainder of the year and possibly into 2015. Although that's positive for transportation and logistics providers, as well as for shippers whose growing volumes point to improving conditions in their...
Black Sea Growth Spurs APM Terminals Expansion at Georgia's Poti Sea Port APM Terminals is to expand capacity at its container terminal in Georgia's Poti Sea Port by nearly 70 percent to keep pace with rapid traffic growth in the Black Sea region and to accommodate larger vessels. The decision to boost the terminal's annual capacity to one million 20-foot-equivalent units from 600,000...
CMA CGM Profit Up as Saade Son Named No. 2 CMA CGM booked a 1.2 percent increase in first quarter net profit as increased container traffic on key east/west routes helped to offset softer freight rates. The French container line also announced the promotion of Rodolphe Saade, son of founder Jacques Saade, to vice chairman executive officer, making him second-in-command of...
Conversion deal sealed Rand Logistics of the US has hired a Chinese shipyard to convert a chemical tanker into a self-unloading bulker.
Pullmantur appoints CEO An affiliate of Royal Caribbean Cruises has appointed a new president and chief executive officer (CEO) who will report directly to chairman Richard Fain.
DSF sounds alarm Many forecasters believe the dry-bulk market will rebound in the second-half of 2014 but a leading lender fears the rally may be short-lived.
SFL cancels pair Ship Finance International has ripped up a contract for two more newbuildings at Shanghai Shipyard.
Frontline charts VL price fall VLCC newbuilding prices have slumped back below $100m, Frontline says.
Unishipping makes move France's Unishipping is in talks to buy domestic ro-pax owner SNCM after Norway's Siem Shipping pulled out.
Thome strengthens tankers Singapore's Thome Ship Management has brought in a former AP Moller-Maersk man to run its tanker fleet.
SFL ups dividend Ship Finance International has boosted its dividend after recording an improved first quarter performance.
Ardmore snaps up MR New York-listed Ardmore Shipping Corporation has added another MR tanker to its fleet with a $36m raid.
Braemar nears majority London shipbroker ACM Shipping has revealed shareholders owning 46.8% of the company have pledged to vote in favour of the proposed merger with UK rival Braemar Shipping Services.
Skagen trims Eidesvik stake One of the largest external shareholders in Eidesvik Offshore has trimmed its holding in the company.
LR wins DFDS fleet Lloyd's Register (LR) is to class nearly all of Danish ro-ro operator DFDS' fleet of 55 ships in a new deal.
Held to ransom? Philippines villagers are blocking attempts to salvage four grounded ships until they get paid.
Gard rings up $89m profit Gard has delivered another strong profit that will mean a premium discount for shipowners in a year of management transition.
POSH pushes up profit Singapore's PACC Offshore Services Holdings (POSH) has posted a much bigger net profit for the first quarter as costs were reduced.
Loading revolution? Australian researchers are developing a new floating harbour transhipment (FHT) vessel they claim could save the industry billions of dollars.
Danske cuts Golar Danske Bank has downgraded Golar LNG ahead of its first quarter results suggesting the tide will not turn for the sector before 2016.
NSB's eco nose-job Germany's NSB is fitting new bulbous bows to a series of boxships to cut fuel consumption.
NordLB chops loan-loss German bank NordLB has cut loan losses as its first quarter profit rose.
Fredriksen in buyback John Fredriksen's Frontline 2012 is the latest shipowner to launch a share buyback programme in a move which could see up to 20% of the stock repurchased.
Frontline swaps suezmaxes Frontline has swapped two suezmax newbuildings at Rongsheng which were considered cancellation candidates for a pair of cheaper vessels at the same yard.
Bidders circle Jadroplov Croatia's government has attracted 14 potential buyers for its controlling stake in bulker owner Jadroplov.
Ferry prices to rise Korea may allow ferry operators to charge more so they can upgrade their fleets in the wake of the Sewol tragedy.
Frontline 2012 starts fast Frontline 2012 has reported a stronger than anticipated first quarter profit.
HSH's $3bn sale Germany's HSH Nordbank is aiming to shed up to EUR 2.25bn ($3.07bn) of shipping loans by the end of 2016.
NYK in Knutsen LNG deal NYK has confirmed that it is to take a stake in two LNG carriers that have been contracted by Knutsen OAS Shipping.
Mipo seals LPG duo Korea's Hyundai Mipo Dockyard has added another couple of LPG carrier newbuildings from Idan Ofer-controlled Eastern Pacific.
Reach rallies in Q1 Reach Subsea has returned to the black in the first quarter of 2014 helped by a surge in quarterly revenues.
Qingdao eyes $377m IPO China's Qingdao Port International Co is seeking to raise up to $377m in a Hong Kong initial public offering (IPO).
Wisdom back in Japan Wisdom Marine is set to return to Japan to order another pair of bulker newbuildings, it has disclosed.
CMA CGM: Freight rates now supportive, but outlook volatile CMA CGM, the third-largest container carrier in the world, had revenue of $3.94 billion in the first quarter of 2014, compared to $3.84 billion in the first quarter of last year, it said, with a consolidated net profit of $97 million.
IATA: Cargo demand up in April Worldwide air cargo demand rose by 3.2 percent, year-over-year, in April, but that result came in 1.1-percent lower than March's result, according to the International Air Transport Association.
DHL confirms 2014 earnings guidance
Suttons, ROVESA enter partnership
U.S. wins WTO auto trade case against China
NYK takes delivery of post-Panamax car carrier NYK said it took delivery Tuesday of a new car carrier, Aries Leader, which is the first post-Panamax car carrier in Japan. The ship, capable of carrying 7,000 units, was built at Shin Kurushima Dockyard's Onishi Shipyard.
UASC gets loan for new containerships United Arab Shipping Company said Kuwait's Burgan Bank has agreed to provide a loan for the acquisition of two 14,000-TEU ships, saying it had concluded a bilateral facility worth $190 million.
Washington Notebook: ATA endorses list of highway funding options
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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