Valemaxes allowed to dock at Chinese ore terminals Five iron ore terminals in China have been granted permission by the Ministry of Transport (MOT) to allow docking by 400,000 dwt Valemax-class bulk carriers, a ministry circular said on 2 July. The terminals are Dagushan port area in Dalian with one berth, Caofeidian port area in Tangshan with two
Australia's Atlas Iron steps back from financial brink Northwest Australian iron ore company Atlas Iron has refinanced and reopened its mines, it announced on 2 July. Reporting to the Australian Securities Commission, Atlas said the last of the three mines it shut down in April had reopened. Mining operations have restarted at its Mount Webber mine in
Canadian asset manager makes multi-billion dollar bid for Australia's Asciano Toronto-based asset manager Brookfield Infrastructure Group has made an AUD9 billion (USD6.9 billion) offer for Australia's Asciano logistics company and its Patrick shipping container terminals. In response to media speculation, Asciano asked the Australian Securities Exchange (ASX) on 1 July for
Court seals DS Torm restructuring programme The High Court in England has approved the restructuring programme of DS Torm, the listed Danish product tanker operator has announced. In a statement, Torm said it had obtained the creditor consents it needed for restructuring with "an English law Scheme of Arrangement" sanctioned by the High
Frontline and Frontline 2012 agree to merge Frontline, the listed VLCC and Suezmax operator in John Fredriksen's business empire, and its spin-off Frontline 2012 have agreed to merge. The merged company, Frontline, will remain listed in Oslo, London, and New York. Shares in Frontline 2012 are currently traded on the over-the-counter (OTC)
MERS prompts warning over charterparty wording The outbreak of the Middle East Respiratory Syndrome (MERS) in South Korea once again highlights the need for clauses tied to contagious diseases in charterparty agreements, law firm Clyde & Co has warned. In a commentary released on 2 July, Clyde & Co's Singapore-based partner and chief
Sinotrans&CSC plans to raise USD161m by disposing of shareholdings in Changhang Phoenix Sinotrans&CSC plans to raise at least CNY1 billion (USD161 million) by selling all its shareholdings in Changhang Phoenix in a public tender. The selling price is set at minimum CNY5.53 per share, a stock filing of Changhang Phoenix said on 2 July. Sinotrans&CSC currently owns 17.89% of Changhang
Sembcorp Marine chooses Technip for topside EPC Singapore shipbuilder Sembcorp Marine has appointed French engineering firm Technip to handle engineering, procurement, and construction (EPC) for the topsides of a floating production, storage, and offloading (FPSO) vessel it is working on. Sembmarine's Jurong shipyard is currently working on
Yangzijiang Shipbuilding appoints new vice-general manager Singapore-listed Yangzijiang Shibbuilding has appointed Zhang Tao as the company's vice-general manager in charge of operations. Zhang was formerly the administrative deputy general manager of China Shipbuilding Industry Corporation (CSIC) from March 2011, and is the youngest executive from a
China welcomes first Valemax in two years China Ore Shipping-owned Valemax Yuan Zhuo Hai arrived at the anchorage of Qingdao on 30 June, and is expected to call at Dongjiakou port, marking an end to the government's 2012 decision to ban Valemaxes from Chinese ports. Before the ban was imposed, Valemaxes were only allowed to call at Chinese
Negotiation over sale of Jiangsu Rongsheng continues Negotiations over the purchase of Jiangsu Rongsheng Heavy Industries have yet to conclude between a Chinese-listed company and China Huarong Energy, which was formerly known as China Rongsheng Heavy Industries Group Holdings (RSHI). RSHI is further negotiating with the potential purchaser regarding
Bumi Armada increases funding for FPSO, FGS Malaysia-listed offshore services provider Bumi Armada has revised its rights proceeds of MYR1.98 billion (USD526.9 million) with more funds allocated for its floating production, storage and offloading (FPSO) and new floating gas solutions (FGS) business units. "The allocation to the FPSO business
Bahri exercises option for five more VLCCs at Hyundai Samho HI The National Shipping Company of Saudi Arabia (Bahri) has exercised options for five more very large crude carriers (VLCCs) from Hyundai Samho Heavy Industries (Hyundai Samho HI), more than a month after ordering five similar tankers from the same yard. This means Bahri will now have 10 300,000 dwt
Shell FLNGs ease concerns over offshore vessel order drought Clinching three more orders for floating LNG (FLNG) vessels from Royal Dutch Shell has alleviated concerns that Samsung Heavy Industries (SHI) would be the worst hit among South Korea's big three shipbuilders, a sector analyst has opined. Hyundai Heavy Industries, SHI, and Daewoo Shipbuilding &
Former ST Marine executive fined $156,000 for graft A former senior executive of shipbuilder Singapore Technologies Marine (ST Marine) was fined SGD210,000 (USD156,000) for falsifying documents to cover up alleged corrupt payments. Patrick Lee Swee Ching, who was the company's group financial controller from 2004-07, had been charged with 38 counts
Osaka's cargo traffic tumbles in March Cargo traffic at Osaka port, western Japan, plunged 14.2% in March from a year earlier to 6.83 million tonnes as both domestic and foreign trade sank at double-digit rates, according to early figures released by the Osaka municipal government on 30 June. Of the 6.83 million tonnes, 2.883 million
Cosco poised to join mega boxship ordering spree CKYHE member linked to imminent deal for 20,000 teu ships as Asian lines race to catch up with European rivals
Is BP now an attractive takeover target? Now that the Deepwater Horizon settlement has been reached perhaps other major international oil companies will take a look at BP and consider a bid for the company
DHT could be next on Fredriksen's list Fredriksen says Frontline is eager to grow and the smaller DHT Holdings presents an interesting target
36 dead, 19 missing in Philippines ferry accident Vessel was carrying 173 when it capsized near Leyte
North European imports to fall Trade demand does not reflect the same growth as improvements in basic econometric data, says Hackett
Frontline and Frontline 2012 merge to form leading tanker company Scale key for tanker investors in a red-hot freight market
Stolt-Nielsen's second quarter belies challenging times Spot rates for chemical tankers improve but cargo volumes are still flat, putting sustained recovery in jeopardy
Huarong misses key sale deadline Cash-strapped Chinese shipbuilder to continue negotiations with unnamed purchaser
Bahri ups Hyundai Samho VLCC order to 10 Ships to be delivered by 2018 as part of expansion drive that will see Saudi Arabian carrier's VLCC fleet top 50
China Cosco banks $639m in subsidies Shipping giant receives payment for the scrapping of vessels between January and June
Elite professional drivers encourage safe summer driving behaviors Arlington, Va. - Today, members of American Trucking Associations' Share the Road Program, an elite group of drivers with millions of accident free miles to their name, urged motorists to exercise caution when taking to the highways this summer. With an estimated 42 million people hitting the road for the Independence...
"K" Line installs new simulator at maritime academy To implement firmer measure for enhancing our business base "For safety in navigation and environmental preservation", "K" Line Maritime Academy (Japan) at Machida city in Tokyo, one of the core functions of "K" Line's...
MIQ Logistics named best 3PL Firm-USA OVERLAND PARK, Kan. - MIQ Logistics is named the Best 3PL Firm-USA in Acquisition International (AI) magazine's 2015 Global Mobility, Immigration and Logistics Awards. "We are honored by this award and believe it speaks to the edge we give our customers through our global presence, state-of-the-art technologies and talented employees," says John Carr,...
Denmark first to use real-time traffic data across entire road network Denmark has become the first country in the world to rely on GPS probe data to monitor traffic and congestion on a national scale. By choosing INRIX, the leading global provider of transportation intelligence and connected car services, to provide real-time traffic information throughout the country, the Danish Road Directorate...
Agility taps new CEO for South Asia operations Agility Logistics has appointed a new CEO for its South Asia operations as the company seeks to capitalize on the intra-Asia's growing trade. Detlev Janik will assume the role of South Asia CEO, taking responsibility for the company's operations in Afghanistan, Bangladesh, India, Pakistan, and Sri Lanka. "The South Asia region, with...
Last Brazilian-owned container line could be in acquisition sights Speculation is rising that the three largest global container lines are considering buying the last surviving Brazilian-owned container shipping company, Log-In Logistica Ltda. Maersk Line, Mediterranean Shipping Co. and CMA CGM may be discussing scooping up the Sao Paulo bourse listed company, Brazilian maritime sources told JOC.com. Maersk is considered the...
Container equipment costs hit 10-year low While container carriers haven't had much to cheer about as spot rates take a beating, they can at least take solace in the fact that equipment costs have hit a 10-year low, according to shipping consultant Drewry. In June, the index used to measure the cost of container equipment fell from...
Manzanillo readies for Panama Canal expansion with super post-Panamax cranes The new cranes as they set sail for Manzanillo International Terminal, Panama.Four new super post-Panamax gantry cranes capable of handling the largest vessels in the world are now en route to Manzanillo International Terminals in Panama. The cranes are part of a $270 million expansion at the Atlantic Coast terminal in...
Zonar, Daimler partner to build 'smart' truck, smarter supply chains The blend of telecommunications, vehicles and mobile computing known as telematics took a significant step forward last week when Daimler Trucks North America became a minority investor in Zonar Systems, a provider of heavy-duty telematics equipment for truck fleets. The agreement between the original equipment manufacturer and the technology company will...
ILA, USMX to continue talks on contract extension to 2025 The Port of MiamiThe International Longshoremen's Association and its U.S. East and Gulf coast employers plan additional meetings after two days of "productive" talks on a contract extension that could run to 2025. "We are ready to move forward on talks aimed at extending the current ILA-USMX master contract," ILA President...
US trucking firms finally overtake 2007 employment peak After five years of hiring gains and substantial pay raises, U.S. trucking companies finally employ more workers than they did before the Great Recession. But they're far from end of the road. Trucking employment surged for a second straight month in June, with U.S. truckload and less-than-truckload carriers hiring approximately 7,400...
Declines forecast for North Europe imports, exports Rotterdam harbor.Persistent weakness in the eurozone economy will cause imports and exports through North Europe ports to decline this year, a new report predicts. "We are seeing weak consumer demand and a consequent impact on the carriers who persist in continuing to provide far too much capacity, resulting in exceptionally low...
Chassis shortage forces UP to embargo intermodal volume at Denver facility Union Pacific Railroad has embargoed all international intermodal cargo originating from the U.S. West Coast at its Denver terminal due to a "severe" shortage of chassis there. It's a sign that the chassis shortage and dislocation that have long plagued major U.S. transportation hubs, especially ports, are now impacting sites further...
Antwerp-Duisburg containerized rail shippers to see better service A duisport locomotive.Shippers tapping containerized rail services between the Port of Antwerp and Duisburg are poised to see greater reliability and experience less congestion at the North European seaport after the former joined forces with duisport, Europe's largest inland port. Although the direct service has been in existence since the beginning...
Container terminals in jungle city of Manaus face growing pains One of the most isolated and intriguing cities in the world, Manaus, Brazil, also presents some of the most difficult container shipping challenges to be found anywhere. Buried deep in the Amazon and unreachable by Brazil's national road network, the jungle city and its satellite towns have a growing population of...
Shippers ask US Customs for extra time to prepare for ACE deadline Algodones, Mexico point of entry.WASHINGTON - Some U.S. shippers are urging U.S. Customs and Border Protection to push back its Nov. 1 deadline for its new "single window" program, saying they're running out of time and more internal agency checks are needed. The automated commercial environment, or ACE, single window promises...
DHL digs in against union opposition to new companies LONDON - Deutsche Post DHL's plans to set up new parcels companies to compete with lower cost rivals is "non-negotiable" the chief executive of the mail and logistics giant said on the eve of talks tomorrow with unions aimed at ending a three month long strike by postal workers. Members of...
Trade isn't just fast track President Obama's legacy now will be defined at least in part by success on trade. It was indeed an achievement to have secured the first presidential "fast track" authority in eight years, paving way for completion of the Trans-Pacific Partnership with 11 nations covering 40 percent of U.S. trade. But while...
World Bank OKs $650 million for India freight corridor project India's transportation infrastructure upgrade program got another push with the World Bank approving the release of $650 million, the third tranche of a long-term program to help build up New Delhi's much-delayed, eastern, dedicated freight corridor project. The new rail route, which is already under construction, is designed to speed up...
China logistics reaps rewards of rising trade, domestic consumption HONG KONG - The demand for logistics services and infrastructure will be fuelled by China's increasing trade appetite and the continuing growth of e-commerce markets within the country, according to Barclays Research. With China's logistics costs still around 16 percent of GDP, already significantly higher than the global average of...
Euroseas to sell rights Euroseas said it plans to issue share purchase rights to help fund its newbuilding programme.
MRs lose ground Atlantic rates for the medium-range (MR) products tanker market declined this week after reaching a peak for the year last Wednesday.
Giant gunning for top spot John Fredriksen's Frontline has eyes on multiple growth opportunities after its merger with sibling Frontline 2012 today.
USTC pushes up profit Danish tanker and bunker group USTC has taken full control of Uni-Tankers as it posted higher annual earnings.
Greeks on the move? Greek shipping companies are looking to find out more about the Cypriot tax regime in anticipation of the outcome of a referendum on Sunday.
Milaha buys out Soc Gen Qatari owner takes full control of two LNG carriers chartered to RasGas.
Solstad's double deal Solstad Offshore has secured employment for two of its deepwater construction vessels.
JES sues ex-worker Chinese shipbuilder JES International Holdings is taking legal action against a former employee after she allegedly "absconded" with company records and seals.
Sunnanvik refloated An SMT cement carrier has been pulled free from rocks off Sweden after grounding on Monday.
Greek owners given hand Panama has given Greek shipowners and operators more time to meet their financial obligations, recognising the country's financial difficulties.
AdvanFort crew still stuck The Indian ordeal for six stranded British guards is set to continue after the supreme court decided they must face trial.
Clipper gets busy Incoming CEO Frank Jensen says Clipper Group will be a little more active in the sale and purchase (S&P) market but not in a revolutionary way.
Drugs ship boarded Spanish authorities have intercepted a veteran cargoship carrying 15.7 tonnes of hashish resin.
Uni-Asia adds boxship Singapore-listed Uni-Asia Holdings has bought a 2007-built boxship from the ship investment fund it co-owns.
Fincantieri yard seized Italian police have seized certain areas of Fincantieri's Monfalcone shipyard, putting activities on hold since Tuesday.
Return of the tanker king John Fredriksen has today put Frontline back on the map with its merger with Frontline 2012 creating a near $2bn company, analysts say.
Huarong misses deadline China Huarong Energy, the former China Rongsheng Heavy Industries, has failed to complete a crucial sale of its shipyard business within a timeframe agreed with the unnamed buyer.
DFDS bid rejected DFDS has seen its offer for acquiring part of a French ferry workers' cooperative (Scop) on the Dover-Calais route rejected.
36 dead in sinking Another 19 passengers are missing, with the rescue operation ongoing, AP reported.
Fredriksen forges new Frontline John Fredriksen has formed his second giant shipping company in as many days with the long awaited merger of tanker companies Frontline and Frontline 2012.
Monjasa brings in ABN AMRO Danish bunker and tanker group Monjasa has struck its first loan with ABN AMRO of the Netherlands in a near-doubling of its credit facilities.
CH Offshore gets new CEO CH Offshore is to have a new chief executive officer after the present incumbent decided to exit the company.
Stolt stronger for now Norwegian chemical tanker specialist Stolt-Nielsen has posted improved second quarter earnings, but warned of challenges ahead.
Dardanelles grounding Turkey's Dardanelles Strait has seen its second major shipping casualty in as many days.
CH Offshore seeks new CEO CH Offshore is on the hunt for a new chief executive after the present incumbent has decided to leave the company.
Parana blocked again Argentina's Parana River has suffered its third bulker grounding in less than a month, but on this occasion the vessel was able to refloat itself.
Japan LNG imports down Japan's May imports of LNG fell to their lowest level in almost five years just released government data shows.
Bahri doubles VL orders Saudi owner now has ten VLCCs set for delivery from Hyundai Samho Heavy Industries.
'Tough market for those who don't possess strong finances' OW Bunker collapse has benefited 'the bigger and more consolidated players.'
Vigo: Spanish ports keeping up LNG developments 'Development of LNG is considered as a state project', says Port of Vigo.
Stolt: Profit up in half-year results Boosted by cheaper bunker fuel.
First commercial dual-fuel engine tested with methanol ME-LGI engine that can run on both HFO and various clean, low-flash-point fuels is ready for market.
Statoil goes ahead with LNG bunkering joint venture 'Deal will help make Klaipeda an important hub in the Baltic LNG market.'
Gulf Petrochem buys oil company To spearhead African expansion.
Vigo: Spanish ports keeping up LNG developmments 'Development of LNG is considered as a state project', says Port of Vigo.
New calls for ECA in Hong Kong region 'There needs to be a level playing field for the Pearl River Delta.'
Singapore: MFM-equipped bunker tanker starts operations The Vittoria has been approved for bunker deliveries.
China fuel oil stocks stable Overall volume was 2.6 million mt to week ending July 1.
Hong Kong think tank repeats call for regional ECA rule 'There needs to be a level playing field for the Pearl River Delta,' says researcher.
Shell penalised for North Sea oil spill Damaged bunker hose identified as cause behind spill.
MFM-equipped bunker tanker starts operations at Singapore The Vittoria has been approved for bunker deliveries on Wednesday.
China fuel oil stocks at stable levels Overall volume was 2.59 million mt in week ended July 1, according to ICIS C1.
Crude drops as US inventories build WTI suffers one of its worst one-day falls in nearly three-months.
New 'optimised' propellors, bulbous bows for Hapag-Lloyd ships Will 'enable' less fuel consumption and will help produce fewer emissions.
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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