UPDATE: AirAsia QZ8501 body recovery hampered Retrieval of the bodies of passengers and crew from AirAsia flight QZ8501 is being hampered by strong waves. More than 40 bodies have been spotted in the Karimata Straits south of Pangkalan Bun by operations to locate the missing A320-200, which disappeared on Sunday morning carrying 155 passengers
Norman Atlantic death toll rises The death toll following the Norman Atlantic ferry fire has now climbed to 12, including two Albanian seafarers killed during the towage of the ship. Ten people are confirmed to have died on board the 26,904gt passenger ro-ro ship which caught fire 44nm off the coast of Corfu, travelling between the Greek port of Patras and Ancona in Italy on Sunday.
CSSC Chengxi Shipyard sues Sinovel Wind Group CSSC Chengxi Shipyard, a subsidiary of Shanghai-listed China CSSC Holdings, has filed a lawsuit against compatriot Sinovel Wind Group over CNY152M ($25M) worth of unpaid wind towers. On 26 December, CSSC Chengxi Shipyard sued Sinovel, a manufacturer of wind-power equipment, over five separate
China joins search for missing AirAsia flight Beijing announced on Monday that it will send aircraft and rescue ships to join the search and rescue for the missing AirAsia flight QZ8501. "After consultations with the Indonesian government, the Chinese government has decided to send aircraft and vessels to search for the missing AirAsia
Former ST Marine head charged with corruption The former president of shipbuilder Singapore Technologies Marine (ST Marine) was charged with corruption today. See Leong Teck, who was president of ST Marine from December 1997 until February 2008, was charged in the State Courts of Singapore with seven offences
Indonesian Navy arrests six sea-robbery suspects The Indonesian Navy has nabbed six suspects involved in a sea-robbery network of attacking ships near the Strait of Malacca and Strait of Singapore. "We received information on sea piracy from the Information Fusion Center (IFC) of Singapore last Wednesday. We deployed a team to arrest the
SBI Offshore wins China-built rig contract Singapore-listed offshore services provider, SBI Offshore has been appointed by China Sunrise Group (CSG) as the lead contractor responsible for procurement of drilling equipment systems (DES) of a CS70 semi-submersible offshore rig. SBI Offshore has entered into a memorandum of intent with the
Bodies and debris found in AirAsia plane search Indonesia's search and rescue agency has found bodies and debris from missing AirAsia flight QZ8501. Flight QZ8501 - an Airbus A320-200 carrying 155 passengers and seven crew - went missing on Sunday morning en route from Surabaya, Indonesia, to Singapore. "It has been confirmed that it is debris
L-type ship to join Evergreen's APG service Taiwanese carrier Evergreen Line announced on 27 December that another 8,508teu box ship, Ever Lunar, is scheduled to join its Far East - Arabian Persian Gulf (APG) service in January. This is the seventh Evergreen L-type vessels to be built by China Shipbuilding Corporation (CSBC) in Taiwan.
Sainty Marine outlines cost of Nantong yard takeover Shenzhen-listed shipbuilder Sainty Marine predicted that it would book losses of at least CNY532.0M ($86M) as it seeks to take over insolvent Nantong Mingde HI. The losses can be limited to CNY532M if Nantong Mingde HI could complete a bankruptcy restructuring successfully, a stock filing of Sainty
AVIC to exit Taizhou CATIC Shipbuilding HI Hong Kong-listed AVIC International Holdings' Beijing subsidiary plans to quit a joint venture with Taizhou Kouan Shipbuilding and Jiangsu Baochuan Investment by selling its stake in the JV. AVIC Beijing has put up its 45% stake in Taizhou CATIC Shipbuilding HI for sale with a knock-down price of
Tanjung Offshore calls off deal with Bourbon SA Malaysia-listed offshore services provider, Tanjung Offshore, and vessels operator Bourbon Far East have called off a proposed asset injection. The proposal would have resulted in a reverse takeover (RTO) of Tanjung Offshore by Paris-headquartered oil and gas company Bourbon SA. According to
DSME clinches nine LNG carrier orders South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) ended 2014 on a high note when it clinched orders for nine LNG carriers from two customers today. Firstly, DSME clinched an order for four LNG carriers from returning customer Angelicoussis Shipping Group, which ordered two
Technology trends 2015: The age of acceptance Shipowners will continue to be wary but generally more favourable to new ideas
Norman Atlantic reopens ferry safety debate Major ro-ro casualties have long history
Cheap Chinese steel keeps demolition rates down Pressure on rates looks set to stay for the foreseeable future despite a healthy supply of tonnage and yards with ample spare capacity
China's shipping conglomerates pocket more scrapping subsidies China Shipping Development and CSCL have secured over $50m this month alone for fleet renewal under the 'cash-for-clunkers' scheme
Box lines look to New Year for renewed price push Cosco joins growing list of Asia-Europe carriers to announce January GRIs
NYK pays US Department of Justice $59m for antitrust violations Japanese shipping giant faces mounting bills from competition cases related to price fixing in ro-ro sector
Securities regulator to examine Guangzhou Shipyard International restructuring Notice from commission takes GSI a step closer to $880m acquisitions aimed at boosting profitability
Close but no cigar: ship finance in 2015 Good times won't roll, but pain will be limited
Ship finance review 2014: Like 2013, but better More of everything, but no return to glory days
Ports, carriers face slump in once-booming Russian traffic Western ocean carriers, port operators and freight forwarders are bracing for a slump in Russia's freight traffic as the nation heads for recession and double-digit inflation in 2015. Russia's finance minister, Anton Siluanov, last week said the economy could shrink by 4 percent next year, its first contraction since 2009, if...
Antwerp's container volume up 4.5 percent for year LONDON - The port of Antwerp boosted container traffic 4.5 percent in 2014 to just short of 9 million TEUs, marginally outpacing the 4.2 percent growth in total throughput to a new record high of 198.8 million metric tons. Europe's third-largest container port after Rotterdam and Hamburg handled 8.96 million TEUs,...
BCOs face an uncertain year in trans-Pacific contracts The year 2015 has not yet begun but is already promising to be one fraught with complexity and unpredictability for beneficial cargo owners in the eastbound trans-Pacific. Two new alliances, the 2M and Ocean Three, will begin operating in the trade early in the year; delays continue to plague the West...
Long Beach port opens container storage depot The Port of Long Beach on Monday opened a depot where empty containers can be temporarily stored. The depot will ease space constraints at congested marine terminals while also freeing up chassis for use in the harbor area. The ports of Los Angeles and Long Beach have been struggling with congestion...
Is the ILWU on the defensive? Do West Coast employers think they have the mighty ILWU on the defensive? Judging from events over the past several days and especially Monday, it's hard to avoid that impression. It took a week for the International Longshore and Warehouse Union to respond to the Pacific Maritime Association's request for a federal...
Bunker price erosion slows over holiday week Prices for both high and low sulfur bunker fuel, along with low sulfur marine gas oil, all continued to drop last week. Full size chart The steep fall of bunker fuel in recent months prices slowed over Christmas week, though the price per metric ton still continued to drop. Bunker fuel prices at...
Two China Southern executives axed in criminal probe HONG KONG - China Southern Airlines' executive vice president and chief operating officer for flight operations have been axed on suspicion of "job-related crime". In a filing to the Hong Kong Exchange this evening, the company told investors that an investigation against Chen Gang, executive vice president, and Tian Xiao Dong,...
Terminal ups investment as competition at Santos intensifies The Ecoporto Santos container terminal in Brazil is moving ahead with an expensive equipment upgrade despite not being guaranteed an extension to the company's port concession period. The development comes as competition is heating up in Santos, Brazil's main container gateway, with Ecoporto and the five other container terminals at Santos...
ILWU, PMA continue war of words in tit-for-tat press releases International Longshore and Warehouse Union President Robert McEllrath today challenged ocean carrier executives to become directly involved in contract negotiations in order to end the impasse that has existed since the previous West Coast waterfront contract expired on July 1. The Pacific Maritime Association shot back that the ILWU's statement...
Panama strike enters second week A strike that has hit the Panama Canal expansion project has entered its second week, although the officials say it involves less than 10% of the workforce.
Canal board approves Corozal port The Panama Canal Authority (ACP) has approved construction of a container transshipment port at Corozal, near the waterway's Pacific entrance.
Mingde restructuring filing 'positive' Nantong Mingde Heavy Industries' two largest customers tell TradeWinds that the company's filing for court-supervised restructuring is a positive step for the financially struggling Chinese shipyard.
Shippers welcome EU pledge to monitor liner shipping alliances A promise by the European Union (EU)'s new commissioner for competition, Margrethe Vestager, to keep a "close eye" on the mega-alliances in the container industry has won approval from shippers.
Blue Sky M heading towards Italy A bulker believed to be carrying hundreds of illegal immigrants is heading towards Italy and is not in danger, Greek officials said.
Greece launches separate enquiry into Norman Atlantic disaster Greek authorities and courts have launched their own probe into the Norman Atlantic ferry disaster, in which two Greeks are known to have lost their lives and many more are feared missing.
Dynagas opens on NYSE Dynagas LNG Partners' shares and bonds began to trade today on the New York Stock Exchange (NYSE).
Cape Hawk scrapped Idan Ofer controlled Eastern Pacific has sold a 1995-built capesize bulker for demolition, sources say.
Eastern Pacific bins cape Idan Ofer-controlled company sends a 1995-built vessel for demolition in Bangladesh.
Reefer outlook hot Seaborne transport of fresh produce will top 100 million tons for the first time ever this year.
Bulker in distress A ship believed to be carrying more than 600 illegal immigrants has sent a distress signal two miles off the island of Othonoi, near Corfu, a Greek defence ministry source says.
Seaspan converts options New York-listed Seaspan Corporation has booked two more 10,000-teu containerships from a Chinese shipyard.
Christmas deal for Concordia Concordia Maritime has renewed its contract with ExxonMobil for two of its P-max product tankers working in the Asia Pacific region.
Italy probes disaster Italian prosecutors investigating the Norman Atlantic ro-ro ferry disaster have called the master and the shipowner to account.
NYK settles for $59m A $59.4m fine has been imposed on Nippon Yusen Kabushiki Kaisha (NYK) which has admitted involvement in a criminal conspiracy to fix ocean shipping rates for cars, trucks and other ro-ro cargoes.
Ferry claims to be substantial Substantial compensation payouts are in prospect as a result of loss of life, injury and property claims from the Norman Atlantic ferry fire but the incident will not hit negotiations to renew the collective reinsurance contract bought by the leading protection and indemnity clubs.
Seadrill takes West Polaris Seadrill Limited has exercised a purchase option worth $456m for a drillship owned by Ship Finance International (SFL).
Sand-sucker seized Malaysian dredger operator Inai Kiara has seen one of its dredgers arrested in Singapore over a payment dispute.
Iron ore dips Reduced production at Chinese steel mills saw iron ore exports from Brazil and Australia take a significant hit in November.
Panama Canal Board approves development of transshipment facility State-of-the-art facility to be built in Corozal, says ACP.
US Gulf port reopens as weather conditions improve Shipping traffic resumed at Freeport on Monday afternoon.
Port's oil storage tank fire destroys 1.8 million barrels of crude Two tanks still remain ablaze at Libya's Es Sider port.
New ECA fuel changeover calculator launched Suggests around 70 hours needed before fuel at engine inlet meets sulphur limit if fuel supplied is at maximum sulphur content.
Falling energy prices cut the cost of new ECA rules Lower sulphur distillate fuel is now cheaper than IFO bunker grades six months ago.
California regulation limiting use of new types of ECA fuels Special permits will be needed for solutions not based on standard marine distillate fuels until OGV fuel rule is revised.
Special care advised when using 'hybrid' ECA fuels May be cheaper than conventional marine distillates and address some changeover issues, but 'high risk of incompatibility' must be carefully managed.
ECA rules will keep demand for eco-ships buoyant Falling oil prices won't mean an end to investment in fuel-efficient newbuilds.
Chinese national association establishes bunkering committee General Manager of Chimbusco chosen as executive director.
Two more vessels arrested in Singapore Singapore's Keppel Shipyard reportedly instigated one of the arrests.
Saudi-based player eyes Pakistan bunker market Group mulling plans to build refuelling facilities at Port Qasim.
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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