Star Bulk reports a rebound in rates and values Operator will not sell newbuildings to plug losses but hints at equity options
Greece grows its owned share of the global LNG fleet GasLog, Dynagas and Maran Gas position themselves for growth
Gas shipping is vibrant, intriguing - and risky The segment presents shipowners with possibilities and pitfalls in equal measure
CSAV and Hapag-Lloyd plan major investments after merger UPDATED: Carriers reveal their timetable as Chile carrier posts a reduced loss
Stolt plans to deploy up to three ships for Quebec LNG joint venture Oslo-listed owner is excited about entering new small-scale shipping segment
Felixstowe wins new Asia-Europe call Evergreen's China Europe Shuttle services arrives at the east coast port for the first time
Libya keen to instill confidence in investors and tanker industry Do not be deterred by recent events, says Najme Karim from Libya's oil and gas ministry
Nanjing Tanker responds to 'hidden loans' enquiry Debt-ridden Chinese giant continues to dodge key issues after stock exchange demands answers
Human errors caused collisions off Singapore, not systemic failures, says MPA Singaporean government remains proud of its navigation safety regime
Boxship investments fall by a fifth Ordering activity remains focused on ships that are larger than 12,000 teu
Zim confirms exit from Asia-North Europe trade Lack of ultra-large boxships restricts its ability to compete on world's largest trade lane
Inactive boxship fleet reaches lowest level in more than two years Capacity of boxships not now in use represents just 1.7% of total fleet
China's Communist Party expels former Qingdao Cosco executive Ex-deputy general manager convicted of corruption and taking bribes
Jinhui Shipping slips into the red during the first quarter Dry bulk player suffers from weak rates and investment loss
Master is missing after explosion on board a product tanker off Japan Four of Himeji's seven rescued crew have been treated for severe burns
It's time to pick your partners as private equity takes to the floor As funds help Greek shipping to exit the slump, the players keep a low profile
Shell signs major long-term deal to supply LNG to Japan Deal will generate 12 cargoes a year for next 20 years
Greek owners can expect the funding climate to stay tight As banks pull back and IPOs fall down, private equity remains a bright spot
FSG wins LNG ferry contract German shipbuilder Flensburger Schiffbau-Gesellschaft (FSG) has won a contract for an LNG-powered ro-ro cargo ferry from Australian shipowner SeaRoad. The newbuilding will have an overall length of 181m, beam 26.6m, and 1,960 lane meters available. It is the builder's first LNG-powered order and its
KHI in planned improvement programme Japanese shipbuilder Kawasaki Heavy Industries (KHI) is rumoured to be planning a major upgrade of its shipyards, to be completed by 2017. KHI is reportedly planning to spend about $187M on two shipyards, with about $89M rumoured to be earmarked for the upgrade of facilities used in the production
Mobile BWT unit to enter market Damen Shipyards Group is preparing to enter the mobile ballast water treatment (BWT) market with InvaSave, which helps shipowners deballast at port. The company said the container unit, which handles 300 m3/h, is more cost-effective than retrofitting a BWT system, which industry estimates to cost
West Africa Suezmax rates hold firm in dull market Spot freight rates for Suezmax tankers have held firm in West Africa in an otherwise dull crude carrier market, Fearnley, the Oslo-based broker, said in a weekly report on shipping markets. "As predicted last week, rates for Suezmaxes in West Africa did improve this week, and we still expect these
Shell to supply LNG to Chubu Electric Power Shell has signed an LNG term supply deal with Japanese electric company Chubu Electric Power. The oil major said today its Singapore-based subsidiary, Shell Eastern Trading, will supply 12 cargoes of LNG a year for 20 years, beginning from October this year. The deal reinforces Shell's position as a
Shallow-water companies remain top pick Lower valuation shallow-water companies are the top picks for investment now, according to Lee Yue Jer, offshore and marine analyst at DMG & Partners. Firms such as Nam Cheong and Ezion Holdings are experiencing high growth with exposure to the lower-risk shallow-water market as compared with their
Three sea robberies averted in two days Three sea robbery attempts were reported in two days - on 28 and 29 May - according to Singapore-based Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia (ReCAAP ISC). The vessels were boarded in quick succession near Nipa Anchorage, Indonesia.
Supramaxes struggle in Pacific and Atlantic This week continues to be tough for Supramaxes as weak demand in the Pacific and Atlantic has seen a continual accumulation in both basins. The situation is such that brokers and chartering managers told IHS Maritime that they are struggling to keep busy. "The market is really bad now and business
SGX targets offshore and marine sector The Singapore Exchange (SGX) is hoping to get more listings from companies in the offshore and marine sector in the city-state and elsewhere. Speaking at Seatrade's Offshore Marine Asia conference in Singapore, SGX executive vice-president Lawrence Wong said Singapore is the world's biggest
Jinhui Shipping 1Q in the red Jinhui Shipping and Transportation dropped to the red in the first three months in 2014 due to lower chartering income and fair value losses. Losses totalled $3.2M compared to profits of $2.8M from a year ago, a stock filing of the company said today. Its revenue also decreased 32% year on year to
Captain missing after Japanese tanker explodes The captain of a Japanese oil tanker is missing after a serious explosion on the vessel this morning. Japanese Coast Guard officials told IHS Maritime that the explosion happened on Shoko Maru, a 1995-built 2,242dwt oil tanker, sometime around 09.30 Japanese time today. "Of the eight crew on board,
South Korea steps up Sewol search efforts Divers plan to open the port windows of the capsized ferry Sewol amid mounting pressure to locate the bodies of 16 people who remain missing. Sewol, which plied the Incheon-Jeju route, capsized off Jindo Island on 16 April. Of the 476 passengers and crew, 288 have been confirmed dead while 172
Confidence in MH370 search shaken Confidence in the search for the MH370 passenger aircraft that disappeared in March was shaken today, with the US Navy questioning if 'pings' detected were authentic and Australian authorities drawing a blank. US Navy's deputy director of ocean engineering, Michael Dean told CNN he doubted the pings
Port Klang Authority commences dredging project The Port Klang Authority (PKA) will dredge the South Channel entrance at Pintu Gedong in Port Klang to allow round-the-clock accesses for larger vessels. The dredging project involved deepening of the existing depth of 16.5 metres to 18 metres, catering for mega ships such as Ultra Large Container
Rice loading faces delays in Thailand Skuld P&I Club has issued a notice to highlight delays in bagged rice loading in Thailand. However, Skuld did not directly link them to the political instability in the country following a military coup last week. Skuld said its members have experienced significant delays in loading, with some
LPG trader, broker set up new brokerage A brokerage specialising in LPG trading and shipping has been established by a cargo trader and a ship broker. Industry sources told IHS Maritime that Jens Kjellesvik, a former trader with Singapore-based LPG trading house Petredec, and Sebastian Venjar, a former broker with Lorentzen & Stemoco,
Coup unlikely to affect Thai exports Exports from Thailand are unlikely to be hit by political turbulence, a leading Thai economist told IHS Maritime. Six months of sometimes violent rallies, blockaded government ministries and a voided election culminated with the military seizing power last week. This political development, however,
APL's Seroka picked to lead Port of LA Los Angeles mayor Eric Garcetti has nominated Gene Seroka as the next executive director at the Port of Los Angeles. Seroka is currently head of commercial in the Americas Region for APL, the subsidiary of Singapore-based NOL. He had previously served as president of the region for the box line.
Icelandic Line Set to Expand Its Global Saga REYKJAVIK, Iceland - With major container lines ordering massive vessels and forging ever-larger vessel-sharing alliances, many smaller lines fear being drowned in their wake. But as a niche carrier with a growing refrigerated forwarding business and aggressive plans to expand, Eimskip is poised to ride the waves fueled by larger vessels...
Agility Expands Warehousing in UAE Kuwait-based third-party logistics provider Agility has opened a new warehouse in the Khalifa Industrial Zone in Abu Dhabi, the United Arab Emirates, as part of its expansion strategy. The new facility, Agility's fifth in the United Arab Emirates, provides 11,133 square meters (about 119,835 square feet) of warehouse space. "There are numerous reasons why...
With Eyes on Merger, CSAV Narrows Losses In announcing sharply lower losses for the first three months of the year, CSAV said it expects to close on a merger agreement with Hapag-Lloyd in the fourth quarter. The Chilean carrier's net loss shrank to $65.9 million from a $96 million loss in the same period in 2013, which included...
Potential for Huge Logistics Savings In China, Maersk Says No logistics providers in China can offer nationwide coverage while thousands of low margin players with low market penetration drive up logistics costs that can account for as much as 40 percent of the cost of production. Yet China's logistics market, at $88 billion in terms of 3PL revenue, is the...
Low-Sulfur Limits to Boost Trans-Atlantic Shipping Costs New low-sulfur limits for ships that come into effect in North America and northern Europe at the beginning of 2015 could add almost $50 to the cost of transporting a standard container across the Atlantic, according to Drewry Maritime Research. Under MARPOL Annex VI, sulfur oxide, or SOx, content in marine...
Logistics Providers Weigh Options in Wake of Thailand Coup Logistics providers operating in Thailand and the companies they service are no strangers to supply chain risk, and the latest installment of martial law imposed nationwide on May 22 saw them again reaching for contingency plans. A nighttime curfew from 11 p.m. to 5 a.m. was introduced after the Thailand's military...
Intermodal Rails' Latest Service Hurdle: Rapid Growth U.S. intermodal service doesn't appear to have improved significantly since severe winter weather and rising traffic crippled most rail networks and disrupted shipper supply chains in the first four months of the year. Indeed, just as some railroads were making incremental improvements to service and digging out from the lingering...
Funding Infrastructure? Look to Canada If there's one thing Americans can agree on, it's that we have a vast infrastructure deficit. Across our country, roads crumble, bridges fall, schools decay. Fixing these, and so many other projects, is at the heart of government responsibility. But repairs cost money, lots of money, and for better or...
CKYHE Alliance Seeks FMC OK to Discuss US Trades Correction: An earlier version of this story stated that FMC had allowed the CKYHE Alliance to discuss cooperating on U.S. trades. It has not. Lines in the CKYHE Alliance have asked the U.S. Federal Maritime Commission to allow them to discuss cooperating in the trans-Pacific and trans-Atlantic trades. Cosco, "K" Line, Yang Ming,...
Broad-Based Growth Drives Profit Rise at Adani Ports Adani Ports and Special Economic Zone, India's largest port infrastructure developer, reported its net income surged 13 percent in fiscal year 2013-14, which ended March 31, 2014, from a year earlier to Rs. 1,740 crore (about $296 million) on a consolidated basis. Yearly revenue jumped 43 percent year-over-year to $936 million...
Express Lifts Transport Corp. of India's Results Growth in the express segment powered Transport Corporation of India to higher profit in fiscal year 2013-14, which ended March 31. The trucking and logistics company reported its consolidated net income climbed 3 percent year-over-year to Rs. 71.6 crore (about $12.2 million). Consolidated yearly revenue was up 4.5 percent, to $381 million,...
Indian Authority OKs Nehru Port Tariff Hike Operating costs for vessels calling at Jawaharlal Nehru Port Trust, India's largest container gateway, will go up substantially mid-June following a tariff increase decision by port regulator Tariff Authority for Major Ports. The new rate scale calls for a 40 percent hike in cargo-related charges and a 12 percent increase in...
Prodigal daughter Industry veteran Natasha Boyden has initiated research coverage of eight US-listed bulker stocks.
Kerala trapped The Liberian Registry has concluded its investigation into the hijacking of a Dynacom product tanker that was seized by pirates off Angola earlier this year.
RR firms design deal Rolls-Royce has firmed up a GBP 35m ($58.5m) contract to design and equip an offshore support vessel for Island Offshore of Norway.
USCG targets EST Enterprises Shipping & Trading (EST) has emerged as one of the targets of a campaign aimed at cracking down on substandard ships that call on US ports.
Fading Empire A $1bn capesize newbuilding project by Greece's Empire Bulk may be on the ropes this week after the company has failed to drum up sufficient investor interest in the Norwegian over the counter (OTC) market, sources tell TradeWinds.
Star tips dry to shine Star Bulk painted a brighter picture for the depressed dry cargo market as it reported a narrow first quarter loss today.
ASL scoops quartet Singapore-listed ASL Marine Holdings has won new contracts to build four support ships.
Oaktree unveils new Excel team Excel Maritime of Greece has revealed its new management team following the removal of former owner and CEO Gabriel "Villy" Panayotides this week.
Shin Yang prospers Shin Yang Shipping has returned to profit in the third quarter as revenue grew.
Lloyd Fonds back in black German finance house Lloyd Fonds has returned to profit for 2013 thanks in part to a pooling of MPP funds.
Svitzer eyes big target Tug group Svitzer will begin operations in Rotterdam for the first time from 1 June.
PDZ pushes on Malaysian containership owner PDZ Holdings has returned to profit in the third quarter despite a fall in revenue.
Hellenic crowns new CFO Elpida Kyriakopoulou has quit as chief executive of Hellenic Carriers after six years with the London-listed company.
Messina meets Marguisa Italy's Messina Line is teaming up with a Spanish rival to boosts its West African services.
FRNT still wants US IPO John Fredriksen remains interested in listing his flagship company Frontline 2012 in the US despite its capesize bulker fleet already taking up a position on the exchange via Knightsbridge Tankers.
OSG builds offering Restructuring US tanker owner OSG has thrown another $5m into its rights offering pot as it seeks to exit bankruptcy.
KHI plotting upgrade? Japan's Kawasaki Heavy Industries (KHI) has been linked to a big upgrade of its yards over the next three years.
CSAV loss falls Chilean container line CSAV has posted a reduced loss for the first quarter ahead of its merger with Hapag-Lloyd.
Master missing after tanker blast One man was missing and four more were severely burned in an explosion on a tanker off Japan.
GSL restacks shelf Global Ship Lease has launched a $500m shelf filing to replace a pervious facility of the same size.
Jinhui slumps to a loss Jinhui Shipping and Transportation has made a poor start to the year with a loss of $3.3m, the company disclosed Thursday.
TEN boosts fund raiser Tsakos Energy Navigation (TEN) has raised net proceeds of $92.3m from its latest public offering, the Greek tanker owner has confirmed.
Mexico export woes Mexico's iron ore exports are being hampered by a crackdown against the alleged involvement of organised crime in the trade.
Alam extends five Alam Maritim Resources has secured contract extensions for five of its vessels in deals worth MYR 71m ($22m) in total.
Fednav bulker aground Authorities in the US are racing to free a handysize bulker that ran aground on the St Lawrence Seaway Tuesday afternoon.
Stifel endorses DLNG A leading US investment bank is urging investors to accumulate shares of Greek operator Dynagas LNG Partners.
BNSF exceeds fertilizer shipment goal BNSF has exceeded its goal to prop up fertilizer shipments, having added more than 52 trainloads over the past five weeks. Its original plan, as mandated by the Surface Transportation Board, was to generate 52 carloads over six weeks.
Rotunda Capital acquires majority of Amware Logistics The private equity firm Rotunda Capital Partners has acquired a majority stake in Amware Logistics Services, a provider of third-party warehousing and fulfillment solutions headquartered in Eagle, Colo.
AIIS: Steel imports up in April
Congestion clogs Rotterdam terminal The shipping line OPDR said congestion at the Delta Terminal is being caused by the late arrivals of deep sea vessels, system outages and labor shortages. OPDR said the current situation will last for at least another month or two.
Ex-Im Bank aims to finance $2 billion in aircraft exports in 2014
UPS upgrades Taiwan air cargo facility
Record profitability again for Descartes in Q1
Lender offers downbeat outlook for container shipping
New Orleans Cold Storage expands at Charleston port New Orleans Cold Storage will double the size of its existing storage space at the Port of Charleston, which includes an investment of more than $14 million. The South Carolina State Ports Authority has approved a $12-million contribution.
Prices soften across Europe LS product in Piraeus down $8.50 a tonne.
Prices steady in Fujairah Prices showed little change in Suez.
OW Bunker staff get share offer Employee share scheme part of original IPO prospectus.
Unni Einemo in 120 km charity cycling event Missions to Seafarers offers emergency assistance and practical support to crews in ports around the world.
Mass flow metering 'will change surveyor role' Continued need for quantity surveyors as MFMs 'are not fault free' says head of DNVPS.
MAN Diesel: Cold corrosion can be avoided Kield Aabo says follow our recommendations and problem is solved.
Fuel oil stocks climb to nine-month high Asian demand 'not that great'.
Rotterdam in bid to improve fuel quality traceability Suppliers welcome initiative to introduce 'statutory' sample taken during transfer from terminal to barge.
Bunker barges to arrive in Hambantota 'in early June' SLPA challenges the 'misinterpretations' and 'wrong conclusions' that surround the port project.
Asian IFO prices end day with little movement But prices were generally moving upwards.
Human error cause of Singapore collisions Three collisions prompted authorities to review marine safety in the port.
USCG to start Houston bunker spill hearings Hearings at Galveston County Criminal Justice Center to start from June 2.
Fuel tanker blows up in Japan After unloading heavy fuel oil cargo.
Bunker supplier planning fuel depot in Solomon Islands New facility will help lower bunker costs, according to SPO manager.
EPA awards grant to engine upgrading projects Rolls out new funding opportunity.
Andatee to acquire Chinese technology firm Acquisition is part of firm's long-term strategy.
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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