Avance Gas targets Aurora LPG Fredriksen-backed VLGC owner in relentless pursuit of mergers and acquisitions
Diana pays $58m for Qingdao capesize newbuilding Owner's acquisition campaign ploughs on despite sceptical view of dry bulk recovery
Hapag-Lloyd IPO planned within a year of completing CSAV merger Minority stake to be sold in what will then be the world's fourth-largest container line
Guangzhou welcomes its first Triple-E containership Will the south China hub help Maersk to fill the giant vessels after Beijing rejected P3?
CMA CGM begins to take delivery of 23 super-post panamax ships CMA CGM Danube will offer highest reefer plug capacity for a vessel of its size
Larger containerships will push terminals to up their game Maritime analyst says operators must keep productivity high to stay competitive
Behrendt plays down 18,000 teu rumours A new round of ordering is not imminent for Hapag-Lloyd
CMA CGM shareholder Yildirim urges P3 carriers not to give up Yildirim Holdings chief says he is happy with his investment in French line
Hapag-Lloyd eyes M&A targets in Asia-Pacific region CSAV deal should not be the last, says outgoing chief executive Behrendt
Hackers target shipping employees' personal devices Cybersecurity is lax on smartphones and laptops, TT Club warns
Port of Long Beach to tap former FedEx Canada head as chief executive Jon Slangerup chosen for experience with green technologies and logistics
Exmar seeks $114m for LNG and offshore Antwerp-based owner seeks finance to expand its oil and gas infrastructure
Capesizes - better sideways than down Rates soften as tonnage builds in the Pacific
NewLead faces Nasdaq inquiry Greece-based shipowner and commodity company pledges to appeal against delisting threat
Week on Wall Street | June 27 Genco's day in court, Washington approves lease condensate exports and other US news
Kotahi enters into infrastructure and cargo deal with Tauranga and Maersk Kotahi and New Zealand's freight gateway Port of Tauranga strike strategic 10-year deal
Average of 1,679 containers are lost at sea each year World Shipping Council tries to put an accurate figure on the number of lost boxes
First CNG tug to be built A joint venture between Dutch-based Damen Shipyards, Danish tug operator Svitzer and German engine builder and Rolls-Royce subsidiary MTU Friedrichshafen will see "the world's first reverse stern drive, compressed natural gas (CNG) tug launched in 2016". The "green, clean and efficient" tug will be
New delisting threat to NewLead Dry bulk owner NewLead is yet again on the brink of being delisted by NASDAQ, this time due to an alleged ethics breach. Trading in NewLead's stock was halted on 26 June but resumed the following day. On 26 June, the company confirmed that NASDAQ qualifications staff were using their discretionary
Algeciras installs super cranes The APM Terminals container facility at the Spanish port of Algeciras has taken delivery of four ship-to-shore gantry cranes specifically designed to handle Maersk Line's 18,000teu Triple E-class container ships. The cranes, which are the largest in the world and are over 100m high, were built by
Eurotunnel says MyFerryLink ban is "absurd" Eurotunnel has described as "absurd" a decision today (June 27) from the UK Competition and Markets Authority (CMA) to ban MyFerryLink services from the port of Dover, claiming it would put 600 people out of work. Confirming its preliminary decision of May 20, the Authority said that it was giving
FICG wins $204M Gemini contract Van Oord has awarded the $204M (€150M) Gemini contract to the FICG consortium which consists of Avantha Group company CG, Fabricom, and Iemants. The contract covers the design, delivery and installation of two high voltage (HV) offshore substations and a HV onshore substation for the Gemini
CMA CGM inaugurates high reefer capacity series Third-ranking container carrier CMA CGM has announced plans to bring into service a series of ships which it says will spearhead its efforts to become a leader in the worldwide reefer market. The French company said that CMA CGM Danube, which is due to start its maiden voyage from China to Turkey
Exmar completes $114M bond issue Antwerp-based gas carrier operator Exmar has announced that it has successfully closed an NOK 700M ($114M) senior unsecured bond issue, the proceeds of which are to go towards new LNG and offshore infrastructure projects. The company said that the issue had been "significantly" oversubscribed and
Mandatory container weighing presents dilemma, panel says Overweight shipping containers can cause accidents at sea and on the roads, but difficulties clamping down on false declarations of the weight and context of the boxes, potential slowdowns caused by weighing all containers and possibly billions of dollars in extra costs are also concerning, according to a panel of...
SCFI: Spot rates to Europe down, to US up Spot rates from Shanghai to Northern Europe stood at $1,106 per 20-foot container this week. Full-size chart Spot rates from Asia to Northern Europe are 20 percent lower than they were this time last year, according to the Shanghai Containerized Freight Index. The SCFI, which prices for the week ahead, showed spot rates...
Descartes prepares for public trading in US and Canada Waterloo, Ontario-based Descartes Systems Group announced the pricing of its public shares this week as sales start to bring the global logistics technology provider to the U.S. and Canadian stock exchanges. Descartes said common shares will start at $13.50 per share, with 9.5 million shares initially offered. The company stands to...
TT Club: Cyber-thieves targeting containers Thieves increasingly are using computer data to steal high-value cargo by generating cargo-release codes for containers, according to transportation insurance and risk specialist TT Club. Mike Yarwood, a TT Club insurance claims specialist, discussed the development in a presentation at TOC Europe's Container Supply Chain Conference in London. "We see incidents which...
Retailers renew appeal for ILWU-PMA deal Retailers are making new pleas for the International Longshore and Warehouse Union and the Pacific Maritime Association to agree on a contract and avoid a West Coast port shutdown after the ILWU-PMA contract expires next week. The Retail Industry Leaders Association said failure to reach a deal by the June 30...
FMC looking into PierPass complaints WASHINGTON - The U.S. Federal Maritime Commission is looking into whether a program designed to alleviate congestion by encouraging shippers to move cargo during nontraditional hours at Los Angeles-Long Beach isn't delivering better service in exchange for higher fees. There haven't been any "specific findings" that the PierPass program isn't providing...
UK orders Eurotunnel to axe service, sell ships The UK's competition regulator today ordered Groupe Eurotunnel, the operator of the subsea rail link between Britain and France, to cease operation of its roll-on, roll-off shipping service within six months. Eurotunnel said it would appeal against the "absurd" decision to ban its shipping line, MyFerryLink, from the Dover-Calais trade, saying...
Ocean carrier rate revision roundup for June 27 Several container lines have planned general rate increases in multiple trade routes to take effect in July, although any gains achieved could be temporary as overcapacity and sluggish global demand continue. According to a new Stifel survey, the overcapacity problem in the maritime market will not have a quick fix. Many had hoped...
BTS statistics highlight US-Mexico imbalance U.S.-Mexico cross-border trade by truck: southbound, $15.8 billion in April 2014; northbound, $20.2 billion. Full-size chart While trucking companies have been complaining about a major imbalance between the U.S. and Mexico for months, data from the U.S. Bureau of Transportation Statistics suggest just how big the imbalance might be. BTS statistics for trade...
Supply chain inefficiencies frustrate US commodity exporters SAN FRANCISCO - U.S. commodity exporters are enjoying another year of especially low freight rates, but these benefits are often negated by carriers' sloppy processing of documentation, longer transit times and inland transportation costs from the nation's interior. As a result, the world's most efficient farmers, ranchers and chemical producers face...
Chiquita to stay in Gulfport through 2014 Chiquita will remain a port tenant at Gulfport, Mississippi, for six more months before moving to New Orleans, although two port commissioners wanted to evict the company when its lease expires July 15. The port board voted 3-2 to extend Chiquita's lease but to double the company's monthly rent to $50,240...
Drewry: Air prices down for first time in two months Drewry's East-West Air Freight Price Index dropped over four points in May. Full-size chart After two months of small pricing gains, Drewry's East-West Air Freight Price Index dropped over four points in May. The weighted index, which shows average air freight rates across 21 east-to-west trade lanes, sat at 99.3 in May, 4.5...
Most productive ports in the Americas [Slideshow] Berth productivity at ports in the Americas improved in 2013 over 2012, according to recently released JOC Group Inc. Port Productivity Data. That's good news for shippers in this age of mega-vessels and -alliances, but the Western Hemisphere as a whole performed poorly compared with regions in other parts of...
Expedited carriers deliver speed - and security - to pharma shippers Expedited transportation companies increasingly are focusing on detailed, custom levels of service to the pharmaceutical business. But speed isn't necessarily the most important thing they deliver for drug shippers. "I would first and foremost challenge the labeling of the service as expedited," said John Dwiggins, life sciences business unit leader at...
CMA CGM deploys ship designed for Bosporus service CMA CGM's new 9,400-TEU CMA CGM Danube is the first in a series of 28 ships.CMA CGM's new container ship, the 9,400-TEU CMA CGM Danube, is slated to begin its maiden voyage next week, marking the entrance of the first of 28 ships of the class into the carrier's global...
Welcome cash injection for loss-making Air China Cargo The loss-making Air China Cargo joint venture between Cathay Pacific and Air China will be given a cash injection by its shareholders of $320 million in a bid to improve the profitability of the carrier and expand its operations. Slightly more than half of the capital will be from Hong Kong-listed...
99% of Shareholders Present Voted for Bahri-Vela Merger Bahri Obtains EGM Approval and Signed Bridge Financing Agreement to Finance the Deal The National Shipping Company of Saudi Arabia (Bahri) obtained the approval of Extra Ordinary General Assembly (EGM) on Thursday 19th June 2014 to merge the fleet and operations of Vela International Marine Limited (a wholly owned subsidiary of...
Save the last dance Avance Gas (Avance) has poured cold water on reports that it is mounting a campaign to merge with Norwegian compatriot Aurora LPG.
Fearnleys backs DHT Fearnley Securities has lifted its valuation of DHT Holdings as it closes in on the acquisition of the Samco VLCC fleet.
Bahri CEO takes off Saudi tanker owner Bahri's CEO has been appointed as the new director general of the nation's airline.
Diana buys capesize Diana Shipping has snapped up a capesize resale from a joint venture between Oldendorff and Emirates Shipping Investment (EShips).
DL on the way back Indonesia's state-owned shipping company Djakarta Lloyd (DL) is seeking new business after settling debts.
Damen unveils prototype Dutch shipbuilder Damen has teamed up with Svitzer to design a new tug running on compressed natural gas (CNG).
Wartsila adds duo Finnish ship systems group Wartsila has signed up another two Prestige Cruise Holdings vessels on a maintenance contract.
Tanker tonic for FSL First Ship Lease has secured improved period employment for one of its crude tankers.
Made in China We take a look at what was said in the market over the past week.
Where now for Concordia? A plan to scrap the wreck of the Costa Concordia in Genoa has been cast into doubt.
FOE taps $2bn loan Drillship company Fred Olsen Energy (FOE) has arranged a new $2bn loan to refinance debt.
Eurotunnel to appeal Eurotunnel's ban on operating ferries from the port of Dover in the UK has been upheld.
Excelerate nets FSRU job Houston-based Excelerate Energy has secured an agreement to supply one of its LNG regasification vessels to Bangladesh state energy company Petrobangla for a long-planned import project.
Kuhne happy over P3 German logistics billionaire Klaus-Michael Kuhne has backed the death of the P3 liner alliance as good for the industry.
Yang Ming sells one Taiwan's Yang Ming has released cash by disposing of a boxship and chartering it back.
Tanker attack thwarted The Iranian navy has fought off pirates targeting one of its tankers in the Red Sea.
VLGC deal for K Line Kawasaki Kisen Kaisha's (K Line) new VLGC is ready to start a charter with a domestic energy company for Middle East gas imports.
CMES eyes clearout China Merchants Energy Shipping (CMES) has announced plans to continue a clearout of elderly ships from its fleet.
TOO eyes fundraiser Teekay Offshore Partners is looking to raise fresh funds according to a financial disclosure to US regulatory authorities.
Maersk in Kiwi tie-up Maersk Line has formed a strategic alliance with Kiwi logistics company Kotahi which will see larger ships calling in New Zealand.
NewLead faces firing squad Greek owner at risk of losing US listing after being accused of misleading investors.
Global Spirit set free Belgium calls for rapid adoption of Hong Kong Convention after diffusing scrap dispute.
Highway trust fund needs $8 billion to meet obligations The Congressional Budget Office estimate assumed the same level of funding for fiscal-year 2015 as in the current fiscal year, as well as the continuation of benefits from MAP-21 until Dec. 31.
Trade between U.S. and Canada, Mexico up slightly in April
Long Beach approves incentives to lure ocean carriers
CMA CGM to 'keep up with the peak season' despite P3 decision A senior executive at CMA CGM also said that the fact that the P3 will not move forward will have no impact on CMA CGM's 2014 results, saying that the financial investment in the project was minimal.
Long Beach picks former FedEx exec to head port The port has been without a permanent leader since Christopher Lytle left a year ago to head the Port of Oakland. Chief Harbor Engineer Al Moro has served as interim executive director.
New CMA CGM ship signals reefer ambitions
Air China Cargo gets large cash infusion According to the latest cargo figures from the International Air Transport Association, carriers in the Asia-Pacific region experienced a 5.2-percent, year-over-year, increase in demand in April.
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