EC TEN-T port spending 2015 trickles through Announcements are gradually filtering through from the European Commission's (EC) press office about this year's port-related spending plans under the Trans-European Transport Network (TEN-T) project. This project aims to create more efficient trade corridors across the region. In addition to the
Labour strife hits ICTSI Oregon ICTSI Oregon, billed by the US Port of Portland as an alternative to high-cost congested terminals on the US West Coast, is itself feeling the effects of a significant fall in productivity. The box terminal operator, a subsidiary of Manila-based International Container Terminal Services Inc
Ezra bags multiple subsea contracts worth $65M Singapore-listed offshore services provider, Ezra Holdings (Ezra) has secured multiple contracts from various energy companies valued at more than $65M, including options. The contracts were signed by Ezra's subsea services division, EMAS AMC, and the scope of the work involves project management,
Missing tanker recovered off Tanjung Penawar, Malaysia A Malaysian-flagged chemical tanker, the Sun Birdie, has been found off Malaysia, after losing all communications with its owner, Teguh Samudera, on 28 January. According to AISLive, the 1,138dwt, 1993-bulit tanker's last known position was at 001°19.388'N, 104°12.343'E, about 1nm south of Tanjung
News insight: Mental health risks put in spotlight Suicide is a global health crisis, with seafaring the second most high-risk occupation. Yet this tragedy can be prevented, reports IHS Maritime's Girija Shettar This year, the World Health Organization (WHO) published its first global report on suicide, prompted by more than 800,000 deaths
DSME wins order for two VLCCs from Angelicoussis Group South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has won an order for two 319,000-tonne VLCCs worth $99M each from the Angelicoussis Group. The tankers will be managed by Angelicoussis' subsidiary Maran Tankers Management. Each ship will have a length of 336m and a width of
Rising VLCC orders unlikely to lift South Korean shipbuilders Although the growing use of VLCCs for oil storage bodes well for the shipbuilding and shipping markets, South Korean shipbuilders will see limited benefits, Youngsoo Han, an analyst with Samsung Securities has said. Commenting, Han said, "It would be premature to forecast oil prices, and with
Wisdom Marine to operate 100 vessels in 1Q15 Taiwanese bulk carrier Wisdom Marine will be expanding its fleet to 100 vessels in 1Q15, the company announced to the Taiwan Stock Exchange. The carrier has taken the delivery of three newbuildings as at the end of January. On 15 January, it had accepted delivery of 38,000dwt bulk carrier Bunun
Hanjin Shipping narrows loss Hanjin Shipping said today that it stayed in the red for 2014, albeit with a lower loss. It incurred a KRW423.3Bn ($386.6M) loss for 2014, compared to a KRW680.2Bn loss for 2013. For 4Q14, Hanjin Shipping, concurrently led by Korean Air CEO Cho Yang-Ho, deteriorated into a KRW38.9Bn loss from a
KSS Line orders LPG/ammonia carrier South Korean specialised LPG and chemical shipping company KSS Line has ordered a 38,000m³ LPG/ammonia carrier. Through a Korea Exchange filing, KSS Line announced today that the ship, which is worth KRW56.7Bn ($51.8M), will be delivered by 28 February 2017. KSS Line told IHS Maritime, "South
Missing mariner database launches A database that enables missing mariners to be reported has been launched today by London-based activist group Human Rights at Sea (HRAS) led by maritime lawyer David Hammond. Reports of missing seafarers or fishermen can be entered into the Missing Seafarers Register from anywhere in the world.
Japan's 'Big 3' post profits Japan's 'Big 3' shipowners - Mitsui OSK Lines (MOL), Nippon Yusen Kabushiki Kaisha (NYK Line) and Kawasaki Kisen Kaisha ('K' Line) - managed to stay in the black for the nine months ending on 31 December 2014. The Japanese financial year begins on 1 April and the trio would post their full-year
Samsung HI profit falls short of target Although South Korean shipbuilder Samsung HI (SHI) posted a profit for 4Q14, its results fell short of analysts' earlier expectations. The world's second-biggest shipbuilder posted net earnings of KRW41Bn ($37M) for 4Q14, compared to a KRW52Bn loss for 4Q13. SHI had an operating profit of
Changhang Phoenix's main business profits up Changhang Phoenix, a bulk-carrier operating unit of Sinotrans & CSC, said today that its core shipping business had returned to profits in 2014 on significant drops in financial costs and capital impairment. Including one-off items, its profits were estimated to total between CNY4.1Bn ($661.3M) and
Future of Dawei railway project uncertain A key official has expressed scepticism about the Thai government's plans to let Japan build a cross-country railway. Thailand and Japan have agreed in principle to jointly develop a 1.435m standard-gauge rail network that will connect a border village in Kanchanaburi in Thailand's east with
Ship detentions spike in Australia Substandard shipping in Australia is on the rise, according to the International Transport Workers' Federation (ITF), with two detentions and one ship barred from Australian ports this month. The ITF is concerned that there is a spike in crew abuse, reporting the crew of 21 Filipinos on Bulk Brasil
Steamship sees 'satisfactory' claims experience Higher average cost offset by drop in frequency
Marseilles-Fos maintains record-breaking form Container throughput jumps 7% to an all-time high of 1.2m teu
Shipowners' Club rejects diversification in favour of existing strategy There is no master plan, admits incoming chief executive Simon Swallow; the club will "stick to its knitting"
Capital Product surfs stronger tanker market Greece-based mixed fleet owner eyes hiking distribution after posting strong results
Storing up trouble for tankers Tankers are having their time in the sun now, and 2015 looks to be a vintage year, but three factors cast a shadow over the longer-term picture
Latest carrier price push expected to fall flat Attempts to raise rates through GRIs and peak season surcharges are failing, say brokers
Shortsea European services will still suffer because of low-sulphur rules The cost difference between road fuel and low-sulphur fuel means traffic will still switch from sea to road
Long Beach chief unveils 'smart system' to combat congestion US port turns to technology in latest attempts to speed up cargo flows
Angelicoussis returns to DSME for two more VLCCs Greek group firms up deal for two 319,000 dwt ships at $99m-$100m each
OOCL sees revenue hold steady while volumes decline in fourth quarter Full-year operational results show 3.5% growth in revenues
Container shipping boosts K Line profit The company sees net profits up 119% on year in April-December
Hanjin Shipping posts operating profit for first time since 2010 South Korean carrier enjoys turnaround in container business amid sales of dry bulk and LNG assets
ClassNK reports record year of tonnage growth Japanese class society claims victory in 2014 as 285 vessels are taken from competitors, with half coming from German and Greek owners
CSCL returns to the black with anticipated $170m net profit Chinese state carrier lifted by disposals of subsidiaries and old ships
Exmar posts $76.9m 2014 profit Gas carrier sticks to long-term charters in LNG
Week on Wall Street | January 30 Views on Economou and a positive take on product tankers
MOL's nine-month earnings weighed down by losses in container shipping Japanese giant sees net profits down 16% on year in April-December
19 container ships anchored off LA-Long Beach ports Aerial shot of container ships anchored off Los Angeles and Long Beach on Saturday.Nineteen container ships were anchored outside the congested ports of Los Angeles and Long Beach Saturday morning, according to the Marine Exchange of Southern California. The tally of anchored container ships has been in double digits every day...
Japanese shipyard reports orders for 20,000-TEU ships Japan's Imabari Shipbuilding Co., Ltd. says it has secured orders for 11 containerships with capacities of 20,000 twenty-foot-equivalent units, and is adding a large dry dock for their construction. Imabari did not identify the carrier that placed the orders but said it was an overseas shipowner, and that the order was...
LA-Long Beach port gridlock extends to Mardi Gras Financial impacts of port congestion on the U.S. West Coast are extending into odd corners of the American economy, including New Orleans' annual carnival season that culminates Feb. 17 with Mardi Gras. The dozens of carnival clubs, or krewes, that hold annual parades in and around New Orleans have encountered delays...
India's Blue Dart Express boosts profit 19 percent Blue Dart Express, India's leading air express and logistics service provider, reported a 19 percent rise in net income to Rs. 27.13 crore (US $4.4 million) for its third quarter, which ended Dec. 31. Income from operations during October to December totaled $94.8 million, an increase of 16.5 percent over the...
Japanese carriers post mixed results, cite port delays Japan's three major diversified ocean carriers -- Mitsui O.S.K., NYK Line and "K" Line -- posted profits for the nine months ending Dec. 31 but reported mixed results from container shipping and said U.S. West Coast port congestion is hurting their profitability. The carriers benefited from lower bunker prices and a...
Vancouver terminal operator invests to handle more US cargo VANCOUVER, British Columbia - GCT Global Container Terminals plans to spend several hundred million dollars in the next few years to increase its Vancouver terminals' capacity and fluidity in anticipation of handling more U.S.-bound cargo and Canadian volume. But at the same time, GCT said it is being careful not to...
Shipping line on-time performance plunged in 2014 Months of severe congestion caused container ship lines' on-time performance to plunge nearly across the board in 2014, according to Danish research firm SeaIntel Maritime Analysis. Carriers' overall global schedule reliability fell to 72.2 percent, down 7.6 percentage points year-over-year, SeaIntel said. It was the worst performance since SeaIntel began tracking...
Swift adds truck capacity as higher rates bring better return Swift Transportation's decision to raise truck driver wages substantially last summer apparently led to higher revenue, higher profits and the ability to provide shippers with much needed capacity when trucks were needed to move goods in the fourth quarter. But shippers moving goods inland and throughout the U.S. paid more for...
Stifel plugs CPLP A leading Wall Street equity analyst is urging clients to accumulate shares of Capital Product Partners on the heels of a strong quarter.
Expenses hit Precious again Precious Shipping has posted a moderate loss in 2014 due to higher expenses generated from its bigger fleet.
Ostensjo orders in Spain Ostensjo Rederi of Norway has returned to its long-term shipbuilder for the construction of three escort tugs.
Fredriksen in double buy John Fredriksen's Frontline 2012 has made a rare second hand move with the acquisition of two suezmax tankers.
SwissMarine takes cape SwissMarine has taken a Golden Union capesize bulker on a period contract.
Orix steps in The private equity arm of Japan's Orix Corp is the preferred bidder for HMM's stake in Hyundai Securities.
A taxing question While Greece's new government is clearly fond of a larger contribution from the shipping community, it has not yet shed much light on its tax policy.
Daiichi cuts loss Japanese owner Daiichi Chuo Kisen has slashed its net deficit in the first nine months.
Lost in space A space scientist at the University of Leicester is investigating a system to help spot ships and planes lost at sea, like Malaysian flight MH370, using the capability of existing satellites.
New Nordic alliance Swedish marine insurance broker Fairwater Marine is merging with Denmark's newly established Krahn Insurance Brokers (KIB).
Strong finish for Capital Capital Product Partners has made a strong finish in the last quarter of 2014 boosted by improved tanker rates as it secured new charter agreements for four vessels.
Still life at 40 DHT Holdings is open to completing period contracts at a time when floating storage continues to aid the VLCC market.
NAO fixes duo Nordic American Offshore (NAO) has moved two of its platform supply vessels (PSVs) out of the poor North Sea spot market on term deals.
CMN in for yard? French shipyard group CMN has been linked to a bid for STX France in Saint-Nazaire.
Pareto cuts Stolt-Nielsen Pareto Securities has downgraded shares in Stolt-Nielsen amid challenges in the tanker market.
EMAS wins $65m contracts EMAS AMC has added to its project portfolio with multiple new awards from various energy companies.
DHT calm on conversions DHT Holdings has no fear that the conversion of capesize bulker newbuildings from dry to wet will damage the big tanker market.
Eitzen set for Bermuda Restructuring Eitzen Chemical is preparing to relocate to Bermuda after the shares exchange scheme with Team Tankers International (TTI) is completed in late February.
$1.4bn for Zvezda Russia's Rosneft has asked for RUB 89bn ($1.4bn) in funding for its big new Zvezda shipyard project in the country's far east.
Hijacked tanker found Malaysian forces have captured seven pirates that hijacked an Indonesian tanker.
Azuma boosts profit Azuma Shipping of Japan has ridden a slightly higher revenue to a nearly 20% increase of its profit.
Three crew poisoned Bootleg alcohol has been blamed for the deaths of three seafarers on a Greek bulker in Indonesia.
OOCL falls in fourth Hong Kong container line OOCL has logged a drop in fourth quarter revenue and profit.
Nordisk names new MD Karl Even Rygh to step up to top job in Norwegian FD&D mutual.
Hanjin reduces the red Korea's Hanjin Shipping has cut its 2014 loss as cost-saving measures kicked in.
Hairshirts in fashion We take a look at what was said in the market over the past week.
How big? Japanese yard Imabari Shipbuilding has scooped an order for 11 mega-boxships linked to a charter deal for Evergreen.
Maran back for VLCCs Greece's Maran Tankers Management has splashed about $200m on two new VLCCs at DSME.
GLOP lifts dividend GasLog Partners has increased its annual dividend by 16% on the back of its expanded LNG carrier fleet.
K Line profit doubles K Line has seen its third quarter net profit more than double compared to a year ago, figures released Friday show.
MOL dips in third quarter Mitsui OSK Lines (MOL) has reported a decline in third quarter profit despite a year-on-year increase in revenue.
Steady as she goes NYK has reported a nine month profit of JPN 28bn ($593m) in a result largely unchanged from a year ago.
Exmar down on 2013 Exmar has reported a decline in full year financial figures, in provisional results released late Thursday.
McCain loses battle A prominent US Senator's latest attempt to terminate the Jones Act, a cabotage law that protects domestic operators from foreign competition, has ended in failure.
Shortsea ECA routes still losing out to road Despite the fall in the fuel price, says shipowner.
Nose job for DFDS vessel 'Without the bulbous bow section the vessel's fuel consumption is seriously affected.'
Bureau Veritas makes Marine Fuel Services appointment Experienced Global Technical Manager joins growing part of the business.
OW-linked ship arrest in Singapore unlikely Until high court rules on interpleaders.
Maersk in talks to order more container 'megaships' 'The new ships will replace smaller ones which will be cascaded to less-busy routes and put the pressure on smaller operators.'
Scrap port dues and focus on bunkering, says Russian official Deputy Prime Minister says fees 'only scare vessels away'.
Valuable OW oil contracts emerge Set at 2014 prices, unsecured creditors could get some money back.
Malaysia: Missing tanker found The Sun Birdie was carrying 700 mt of marine fuel when it lost contact with its owner.
Weaker fuel prices lift cruise giant's bottom line Annual profit rose more than 60%.
Bank hit by OW Bunker collapse to sell futures arm Firm reported to be selling off its commodities and financial derivatives brokerage business.
'Next-generation' LNG carriers ordered Vessels will feature a hybrid propulsion system.
Exmar drops plans for LNG bunker tanker 'Necessary critical demand for this service is currently not existing,' group says.
'Very positive' feedback from MFM bunkering course Increasing response from the Singapore bunkering industry, says Course Supervisor.
Report: Pirate hostage-taking likely to continue in 2015 Fourteen recorded incidents last year, compared to eight in 2013.
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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