EU shipping bodies seek action on customs Leading EU shipping industry bodies today called on the new European Commission to streamline customs procedures and port services to help them benefit from the internal market for shipping. In a joint statement issued to coincide with the first European Shipping Week, seven industry bodies asked
Migrant 'tide wave' swamping sea rescue: IMO head IMO secretary general Koji Sekimizu warned today that sea rescue services are being overwhelmed by a "tidal wave" of migrants across the Mediterranean, the Red Sea, and the Pacific. The scale of migration is putting unsustainable pressure on coastal states, rescue services, and the shipping
Panalpina ramps up ocean freight business Panalpina has promised investors it will continue to outperform the global freight management market. In 2014 results presented on 4 March, Panalpina's ocean container bookings climbed 7% to 1.6 million teu, outpacing loaded container traffic's estimated 4-5% market growth, according to the
JES proposes restructuring for JEHI Singapore-listed shipbuilder JES International Holdings (JES) has proposed a consensual restructuring between Jiangsu Eastern Heavy Industries (JEHI) and the China-based subsidiary's creditors. JEHI has filed an application for the scheme to Taizhou Intermediate People's Court, in China's Jiangsu
Cheaper fuel unlikely to speed up box ships Deepsea container lines are unlikely to respond to cheaper bunkering by sailing faster and cutting transit times, according to SeaIntel Maritime Analysis. Potential gains from reduced vessel strings would probably still be outweighed by network restructuring costs, said SeaIntel partner and CEO Alan
Dry bulkers set for record demolitions A continuation of rock-bottom dry bulk freight rates could trigger a record 50 million dwt of dry bulker demolition sales this year, enabling rates to recover in 2016-17, say senior shipping analysts. Erik Nikolai Stavseth and Kurt Waldeland, shipping analysts at Arctic in Oslo, forecast demolition
Maersk grounding not due to engine: AMSA The Australian Maritime Safety Authority (AMSA) today ruled out mechanical failure as a factor in the grounding of Maersk Garonne in Fremantle on 28 February. AMSA inspected the container ship at anchorage and divers examined the hull before the vessel was cleared to return to port for stevedoring
Lysblink adds to maritime safety fears DFDS cargo ship Lysblink Seaways' grounding when sailing through the Sound of Mull on 18 February has deepened concerns over maritime safety off Scotland's west coast. Members of the UK and Scottish parliaments as well as councils and fishing and tourism stakeholders are demanding an emergency
SeaLand confronts Latin American challenges SeaLand CEO Craig Mygatt is determined to build up his fledgling Latin American container service amid a steep downturn in many of the region's economies. SeaLand, the Americas-centric offshoot of Maersk Line, began covering the north-south trades and intra-regional routes in January. But Mygatt
Japan calls for box ship safety overhaul Japan's Ministry of Land, Infrastructure and Transport is looking to tighten class safety rules for big container ships. In its final report on the break-up and sinking of the 8,110 teu MOL Comfort, the ministry called for hull girder strength requirements to reflect the effect of lateral loads
Sainty Marine to freeze Nantong boss assets Shenzhen-listed Sainty Marine has secured a court approval to freeze Nantong Mingde Heavy Industry president's CNY700 million (USD113 million) asset over a loan dispute. The Jiangsu Province High People's Court had seized 6.5 million shares in a company held by Fenghua Ji, a 3 March stock filing of
NYK Line expands intra-Asia service Japan's second-biggest shipping company, Nippon Yusen Kabushiki Kaisha (NYK Line), is tapping into the growing intra-Asia market. The company announced on 3 March that it will add a new service between Japan, Thailand, and Vietnam. This will be the second service that NYK Line offers between those
Vallianz buys two HOS ordinary shares Singapore-listed offshore services provider Vallianz Holdings (Vallianz) has subscribed for two ordinary shares of the Singapore-incorporated Hamilton Offshore Services (HOS), which was set up on 3 March. At a total consideration of USD2.00, the two ordinary shares represent 100% of the equity
China lacks iron ore demand for its Capesizes Although China consumes about 18 Capesize-loads of iron ore per day, the supply of ships is such that the demand is insufficient to create profitable freight rates, said London-based shipbroker ICAP Shipping. ICAP Shipping said, "The sharp drop of the iron ore prices has benefited the profit and
Pacific Radiance, Duta Marine form joint venture Singapore-listed offshore services provider Pacific Radiance has formed a joint venture with Duta Marine. The agreement was signed by Alstonia Offshore, a wholly owned subsidiary of Pacific Radiance. The company will own 49% of equity interest in the joint venture company - Duta Radiance Maritim -
HHIC bags orders for two LPG carriers South Korean shipbuilder Hanjin Heavy Industries & Construction (HCIC) has won orders for two LPG carriers. The price of the two carriers is KRW114.9 billion (USD104.166 million), working out to USD52.83 million per ship, said the company in its Korea Exchange filing. HHIC told IHS Maritime that
Bumi Armada establishes Armada Madura EPC Malaysia-listed offshore services provider Bumi Armada has incorporated a new subsidiary under the name of Armada Madura EPC (Armada Madura) in the Republic of the Marshall Islands. According to Bumi Armada's filing to the Malaysian stock exchange Bursa Malaysia, Armada Madura will be a wholly
Emanuele Grimaldi calls for support for shortsea shipping's role in European transport Challenges from competing modes are rising, warns Grimaldi Group boss
Status and conditions of seafaring must be boosted to avoid skills shortage, says David Dingle Carnival chairman warns European Shipping Week audience of hollowing out of the workforce at a critical demographic point
Premium Daily Maersk service abandoned Maerk Line's Skou acknowledges that very few customers were prepared to pay premium prices for guaranteed delivery times
Torm focuses on crucial restructuring decision as rivals grab market share Struggling Torm says there is room for everybody in the product tankers market while young pretenders such as Scorpio build up fleets
BIMCO launches new guide to help owners meet environmental rules and targets Three-part guide targets owners seeking to improve environmental and efficiency management goals
Newbuilding writedowns bulk up Scorpio's loss Monaco bulker owner says no more order contract conversions are planned
What's on the horizon for LNG shipping over the next decade? A look at key themes to arise from the Informa LNG shipping conference, from US and East African exports to developments in Iran
Three-quarters of all piracy attacks happen in Southeast Asia, so why is the local watchdog downplaying the situation? Shipping associations question whether ReCAAP is doing enough to stem the rise in local incidents
Diana cuts loss as charter earnings remain steady Owner has been active under share repurchasing scheme as well as expanding fleet
Panalpina reports 7% box volume growth But revenues per box decline as it focuses on lower yield business
APMT committed to Global Ports investment Chief executive Kim Fejfer says terminal operator is in it for the long haul, and expects Russia's economy to revert to 'more normal conditions' in time
Trading of JES shares suspended after main subsidiary files for court protection China-based, Singapore-listed shipbuilding group seeks to restructure debts after years of losses as expected
Colombia detains Cosco vessel for illegal arms transportation Local authorities found 100 tonnes of gun powder, 99 projectiles, 4,104 cannons shells and more than 2.6m detonators
Owners rise to emission challenges Majority have switched to marine gas oil, DFDS' Smedegaard tells ESW audience
Torm posts 2014 loss but sees trend of improving product tanker market Product tanker tonne-mile demand expected to grow 6% per year in 2015-2017
Glencore downbeat on tankers as storage Spreads not attractive enough for floating storage due to oil price rise narrowing contango, says oil trader, echoing shipowner comments
Fresh doubt cast on floating storage impact Jury's out on scale of impact of floating storage on VLCC market
Matson the most reliable on the west coast Jones Act carrier achieves a 100% reliability rate on deepsea service calling at congested Pacific coast ports in December and January
Panama Canal eyes re-routed US west coast traffic Authority boss Quijano says Suez is the winner right now, but he hopes Panama Canal will be the beneficiary of a permanent shift from US Pacific ports
Suez trumps Panama Canal in Asia-US east coast trades TSA lines expect alternative routes to be discussed in forthcoming contract negotiations
Oakland's Lytle heads fight to restore customer confidence Operations should be back to normal in a few weeks but regaining shipper trust will take much longer
Mediterranean migrants crisis: shipping cannot cope alone Search and rescue is a sovereign function and not a job for the private sector
Truckload carrier C.R. England hikes truck driver pay again Truckload carrier C.R. England is raising driver pay for the third time since November and the second time in the last 40 days, while offering bonuses to successful driver trainers. The rapid pay raises and incentives reflect an intense battle among trucking companies to hire, train, seat and keep truck drivers...
Port of Virginia maintains embargo on intermodal export traffic The Port of Virginia said Wednesday that a hold is still in place on all export intermodal rail traffic at its Norfolk International Terminals as the port continues to cope with significant rail volume at the facility. The hold was originally put into effect Feb. 26 due to severe winter weather...
Dollar General: West Coast losses will be lasting LONG BEACH, California - Protracted West Coast port delays will push Dollar General to shift more import cargo to the East Coast, a logistics executive for the discount retailer said Wednesday at the 15th annual TPM Conference. "Completely unnecessary and completely man-made" congestion has caused "permanent and irrevocable damage" to West...
Expansion of refrigerated facilities builds worldwide The build-out of cold storage capacity is on fire around the world. From 2012 through 2014, total global capacity grew 20 percent to 552 million cubic meters, an increase of 92 million cubic meters in just two years, according to the 2014 IARW Global Cold Storage Capacity Report. South America and...
Pharma, floral cold chains moving from air to ocean Drug giants AstraZeneca and Baxter are shifting more cold chain shipments from air to ocean, attracted by lower transportation costs, a reduced carbon footprint and mitigated security concerns, according to Outsourcing-Pharma.com. Ocean carriers' share of pharmaceutical shipments grew 8.1 percent while air carriers lost 5 percent in 2013 compared to 2012,...
Economist advice for US: Fix infrastructure, boost exports One of the barriers to exporting to India is its terrible port, road and rail infrastructure. The Modi government is trying to correct it.LONG BEACH, California - The U.S. needs to boost its exports to fast-growing emerging markets, but it faces a number of barriers that stand in the way...
India allows state-owned Railways to provide end-to-end logistics Anticipating significant growth in freight traffic, the government of India will allow state-owned Railways to create a new arm to provide end-to-end logistics solutions. Union Railway Minister Suresh Prabhu made the announcement in his fiscal 2015-16 budget plan presented to the parliament last week. "Transport Logistics Corporation of India, or Transloc, is...
ILA, USMX to discuss long-term contract for East, Gulf coasts LONG BEACH, California - The International Longshoremen's Association and United States Maritime Alliance plan to open discussions about a new, long-term contract more than three years before their current East and Gulf Coast labor agreement expires. "The goal of both parties is a long-term agreement that provides stability for the industry...
CEVA earnings, revenue decline in Q4 CEVA Logistics posted slightly lower revenue and earnings in the fourth quarter of 2014 as currency movements outweighed market-beating increases in ocean and air freight volumes. The Netherlands-based supply chain management company earned $75 million before interest, tax, depreciation and amortization, down 2.6 percent on the $77 million booked in the...
Panalpina profit more than doubles on sea, air freight growth Panalpina's profit more than doubled in 2014 as the Swiss forwarding and logistics company posted market-beating ocean and air freight traffic growth and narrowed logistics losses ahead of schedule. Earnings before interest and tax jumped to 116.7 million Swiss francs ($121.4 million) from 48 million francs in 2013 as the fourth...
India intervenes to block threatened indefinite port strike Indian dockworker union leaders and officials from the Ministry of Shipping are expected to hold talks on Wednesday in New Delhi in an attempt to avert an indefinite industrial action planned to begin March 9 at major ports, including Jawaharlal Nehru Port Trust, the nation's largest container handler, port sources in Mumbai said. Unions are...
US Senate leader floats putting port workers under Railway Labor Act The third-ranking Senate Republican on Tuesday floated the idea of putting unionized port employees under the purview of the Railway Labor Act, a move proponents say would prevent longshore labor showdowns like those seen seen on the U.S West Coast in recent months. Sen. John Thune, of South Dakota, said some...
Carriers threatened by cyberattacks, experts warn LONG BEACH, California - The 15 top container carriers are at risk of significant and damaging cyberattacks, according to the head of a leading market intelligence provider and cybersecurity firm in the industry. "We ran penetration tests and we concluded we could walk into all of them" said Lars Jensen, CEO...
DP World Australia hit with 750 percent rent increase HONG KONG - The proposed 750 percent rent increase for DP World's Melbourne terminal is a "blatant money grab" by the state government, said Shipping Australia chief executive officer Rod Nairn.In a strongly worded statement, the shipping association chief warned that such a rent increase for the stevedore would lead...
Managing mountain of data a challenge to visibility, IT experts say LONG BEACH , California - The quality, availability and management of data has to improve if the supply chain is to efficiently handle the mountain of information that is now available to carriers and their customers, panelists said at the 15th annual TPM Conference in Long Beach, California.Bill Schwebel, president...
Panama pilots in talks with canal over safety issues LONG BEACH, California - The Panama Canal Pilots Union, which is in negotiations for a new five-year contract, said it was encouraged by statements made by Panama Canal Authority CEO Jorge Quijano at the 15th annual TPM Conference here Tuesday. The union, which is affiliated with the International Longshore and Warehouse...
US shippers, forwarders cite congestion strategies "I don't think shippers will ever again put all eggs in one basket," Donna Lemm, vice president of global sales for Mallory Alexander International Logistics, said at the 15th annual TPM Conference. "You will see a lasting impact on southeastern ports." LONG BEACH, California - Shippers who tried to divert their...
Cautious optimism Box Ships reported a fourth-quarter loss Wednesday but the Greek containership operator is confident it can stay afloat in the foreseeable future.
MOL cans cape It appears that another capesize bulker was sold for recycling this week and many believe the tally will continue to increase in the near term unless freight rates rebound.
Pangaea seals COA US bulker operator Pangaea Logistics Solutions has lined up a five-year contract-of-affreightment (COA) worth approximately $20m.
Danske's products hope Danske Bank has launched coverage of four leading products tanker owners with buy ratings amid the promise of improving rates and profits over the next three years.
The $8m phone bill Caribbean Cruise Line could pay nearly $8m according to an order from an American district court which found that the company violated telemarketing laws.
Korea strikes Saudi deal South Korea has signed a shipping agreement to ensure safe and steady imports of Saudi Arabian crude.
SALT seals $276m Scorpio Bulkers (SALT) has moved closer to financing its entire fleet after clinching new loans worth $276m.
Diana trims loss Diana Shipping has managed to trim its fourth quarter loss on the back of increased time charter revenue.
SALT hit by sales Scorpio Bulkers (SALT) has been pushed to a bigger loss in 2014 after writing down the value of newbuilding contracts it intends to sell.
PDZ moves into gas Malaysia's PDZ Holdings has sealed its entry to the gas sector as it outlined a new profit forecast for its Kazakhstan investment.
Reefer rescued An Estonian reefer needed a tow off Norway after it lost power and began to drift.
Pacific strikes second JV Pacific Radiance has set up its second joint venture in two days.
CMA CGM eyes rate boost French container line CMA CGM is trying for rate rises between Asia and Europe.
Oaktree deal in sight Torm remains hopeful of completing a restructuring deal that will see Oaktree Capital take a majority holding in the company within the next few weeks.
Norden fears more failures Norden feels more dry cargo bankruptcies could be on the cards if the market continues to labour at today's brutal levels.
Subsea 7 in the red Subsea 7 has taken a hit from a big goodwill impairment charge which dragged the Oslo-listed company into the red for both fourth quarter and full year.
JES yard files for restructuring China's Jiangsu Eastern Heavy Industries takes shelter from creditors as it seeks court deal on debt.
Bahri raising $1bn National Shipping Company of Saudi Arabia (Bahri) is planning an Islamic bond sale worth SAR 3.9bn ($1.04bn).
Class rules at fault A Japanese government final report into the loss of the 8,000-teu containership MOL Comfort has highlighted inadequate classification society rules.
Brussels wants action Europe is to argue for stricter levels of damage stability assessments to improve ship safety, after recent accidents including the Norman Atlantic ferry fire in the Adriatic that claimed up to 27 lives in late December.
Cosco vessel arrested A multi-purpose vessel owned by China's Cosco Shipping has been arrested in a Colombian port for allegedly carrying ammunition.
Norden suspends dividend Norden has suspended dividend payments after a "lousy" dry cargo market led it to a deep loss in 2014.
Volga volumes drop Volga Shipping of Russia has posted a 4% drop in cargo volumes for 2014.
CMES selling eight China Merchants Energy Shipping (CMES) is putting six older vessels up for sale as it continues to renew its fleet.
Hanjin Heavy grabs LPGCs Hanjin Heavy Industries of Korea has announced a new order for two LPG carriers.
ADB backs Pakistan FSRU The Asian Development Bank (ADB) has approved a $30m project loan to go towards building Pakistan's first LNG regasification terminal.
NYK boosts ASEAN ties NYK is expanding its service network linking Japan with its major regional trading partners of Thailand and Vietnam.
Last BWO bodies found BW Offshore says the last of the remaining three crew missing from the FPSO Cidade de Sao Mateus have been recovered.
Refinery strikes continue Strikes have broken out at more than a dozen US refineries and some forecasters fear the total will spread in the days ahead if the standoff between Shell and the United Steelworkers (USW) union continues.
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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