US LPG exports accelerate Despite volatile oil prices, US LPG export volumes are exceeding expectations and destinations are shifting, according to Dorian LPG. On 4 June, the NYSE-listed owner reported a net income of USD8.8 million for its fourth quarter (which ended on 31 March 2015) versus a loss of USD1.3 million in the
Alternative lenders could boost German shipping Lending capacity for shipping in Germany could rebound in the coming years despite significant portfolio reductions by local banks, German restructuring consultant and investment manager Notos said today. Significant loan amounts for shipping could become available from domestic institutional
Rescuers recover 39 more bodies from Yangtze River Rescuers have retrieved another 39 bodies as of 08:00 h local time on 4 June, bringing the total death toll to 65 after a passenger ship capsized in the Yangtze River on late 1 June, according to Xinhua News Agency. A total of 14 people, including crew members and passengers on board Dong Fang Zhi
Privatised Piraeus port terminal hailed as success Piraeus Container Terminal's (PCT's) strong performance since it was taken over by China's COSCO Pacific is proof that privatisation has been a success, a report has claimed. It says that since the terminal was privatised in 2009, its new owner, COSCO Pacific, has managed double-digit annual growth
ABB Power2 turbochargers boost efficiency ABB Turbocharging has announced the first application on a marine engine of its Power2 800-M second generation two-stage turbocharger. The new multi-fuel capable Wärtsilä 31 marine engine, also announced this week at the Nor-Shipping 2015 exhibition in Oslo, is equipped with the Power2 800-M. The
Poland halts Polferries privatisation The Polish Ministry of Treasury (MSP) has, without warning, ended the process of selling off state-owned Polferries. In a brief announcement using official terminology, it said "The MSP informs that it has decided to withdraw from negotiations initiated pursuant to those published 29 October
Unmanned ships to spur business model rethink Just as driverless cars will become a reality, so will unmanned ships. And that, experts warn, will require a rethink of operations and business models in shipping. Unmanned ships will be able to carry more cargo than today's ships as they will not need a deckhouse and they will be cheaper to build
Big data brings challenges to shipping Big data is going to change the shipping industry like any other business and it brings senior management of organisations face to face with new challenges, a Nor-Shipping seminar heard. Richard Clegg, head of the Lloyds Register Foundation in London, said convergence of nano-sensor,
LR lab tests ballast water systems' US compliance Lloyd's Register (LR) has been approved as an independent laboratory and will begin testing ballast water treatment systems' compliance with US requirements. The United States Coast Guard regulations for the approval of ballast water treatment systems (BWTS) came into effect in 2012. These
Speedy IPOs encouraging more Oslo shipping listings Quicker listing enables the Oslo Stock Exchange to attract shipping company IPOs, experts have said. This is seen as a distinct advantage under the current conditions of volatile shipping markets. It usually takes about eight weeks from filing an application to list shares in a company on the Oslo
Otto Marine redeems preference shares for $8.9m Singapore-listed offshore services provider Otto Marine has redeemed preference shares from a compatriot private equity firm for SGD12 million (USD8.9 million) in cash. According to its filing to the Singapore Exchange (SGX), the preference shares were fully redeemed by its wholly owned subsidiary,
Shipping could help Rohingya refugees Commercial shipping may have a role in helping solve the plight of Rohingya fleeing Myanmar, a leading NGO source has said. "There's a conversation that needs to be made," Humanitarian Policy Group research associate Lilianne Fan told IHS Maritime after the issue was discussed at a meeting in
Silk Holdings bags $5.7m deal Malaysia-listed offshore services provider Silk Holdings, (Silk) has been awarded a contract worth MYR21.17 million (USD 5.7 million) by Vestigo Petroleum. The contract is for the provision of marine vessel services to support Vestigo's drilling programme and production for Tembikai field
SHI wins Teekay shuttle tankers South Korean shipbuilder Samsung Heavy Industries (SHI) has clinched three DP2 shuttle tanker orders from Teekay Offshore Partners. SHI announced in a Korea Exchange filing on 4 June that the three Suezmax-sized tankers are worth KRW370.2 billion (USD332.86 million), working out to USD110.95
UOBKayHian reveals top picks for O&M market Singapore-based brokerage house UOB Kay Hian has listed offshore service providers Ezion Holdings, Triyards Holdings, and Sembcorp Industries as top picks for the offshore and marine (O&M) equity market. Analysts from UOB Kay Hian have set a target price of SGD1.52 (USD1.12) per share for Ezion,
Hebei Spirit oil spill victims to be compensated The International Oil Pollution Compensation (IOPC) Funds will begin paying compensation for damages relating to the Hebei Spirit oil spill, South Korea's Ministry of Oceans and Fisheries (MOF) announced on 3 June. On 7 December 2007, Hebei Spirit, a Hebei Ocean Shipping Company-owned VLCC carrying
Vallianz attracts $10m investment from UOC Singapore-listed offshore services provider Vallianz Holdings has secured USD10 million from capital investment company United Orient Capital (UOC) to finance its expanding business operations. According to its filing to the Singapore Exchange, Vallianz will issue 10 million convertible preference
Yard Talk | Market rules to force further consolidation in China Overcapacity could ease in the world's largest shipbuilding nation
Scorpio Bulkers sells five more newbuildings Three capesizes and two LR2 tankers go for $236m
Miami volumes at highest level in a decade Florida port sees box volumes climb 21% in April to 93,400 teu
APMT calls for immediate end to Callao strikes Up to 700 workers involved in the industrial action, now entering its 24th day
China Shipping Group to give up control of listed unit to healthcare player Shanghai Lanhai Shangshou Medicare attempts backdoor listing
Death toll rises to 77 in Yangtze tragedy So far, only 14 survivors have been found
Mercator discloses demands from Cargill over deferred purchase contracts Cargill is among creditors currently negotiating a restructuring plan for troubled bulker operator
Maritime-Insight joins Lloyd's List Intelligence Shipping industry's leading source of fleet and vessel-tracking data enhances analysis and forecasting offering with five-strong team
Port of Ningbo plans big for rail transport World's fifth-largest box port looks to increase sea-rail traffic to 2m teu by 2030
Nor-Shipping 2015: Owners are haemorrhaging money on idle LNG ships An unemployed gas carrier costs an owner $2.5m per month, a high price to pay in today's tough market
Ocean Rig offer set to raise $200m Economou to buy $10m of shares in DryShip's Ocean Rig subsidiary
Samsung Heavy Industries in $330m deal for shuttle tankers Three vessels to be delivered to US-listed owner in 2018
Maximising efficiency - or how to pimp a ship In this eight-part report, Lloyd's List looks at whether an owner should order a newbuilding or retrofit a secondhand vessel to stay head of the competition
Wikileaks: EU, US could give shipping lines greater bargaining power WASHINGTON - The U.S. and EU are in talks over a new trade deal that could give shipping lines greater bargaining power over port services and give multimodal operators priority to tap inland freight connections, according to documents shared Wednesday by Wikileaks. The whistleblower website announced it had unearthed a trove...
Port of Milwaukee promotes port director Paul Vornholt has formally assumed the duties of Municipal Port Director at the Port of Milwaukee. He had served as Acting Port Director for the past two-and-a-half years. Vornholt was formally nominated by Mayor Tom Barrett on May 12th, confirmed by the Milwaukee Common Council on Tuesday, and sworn in...
NFI and Rent-A-Center open distribution center in Texas CHERRY HILL, N.J.- NFI, a leading supply chain solutions provider, headquartered in Cherry Hill,N.J., is pleased to announce the grand opening of its first distribution center in partnership with Rent-A-Center. The facility in Lancaster, Texas is the first of several distribution centers that will support Rent-A-Center operations across North America. Rent-A-Center...
Unmanned container ships forecast to reshape industry Unmanned cargo ship will usher in a whole new era in shipping, requiring a rethink of operations and business models in the industry, according to panelists at Nor-Shipping in Norway. Unmanned ships will be able to carry more cargo than today's ships as they will not need a deckhouse and they...
US trucker turns to guaranteed pay to fight driver shortage In an intense battle to hire and keep drivers, trucking companies increasingly offer not just higher pay but guaranteed pay, augmenting per-mile pay packages. Covenant Transport, the 18th-largest U.S. truckload carrier, is rolling out what may be the largest guaranteed driver pay program in trucking to date, offering $1,000 week in...
Florida East Coast Railway expands next-day intermodal service Florida East Coast Railway is expanding its intermodal service to include next-day service on weekends to Fort Pierce, about 230 miles south of Jacksonville, Florida. Beginning June 6, shipments that arrive at the FECR rail facility in Jacksonville before 10:00 a.m. on Saturdays will be available in Fort Pierce at 11:00...
FECR and PortMiami meet with Panama Canal officials Jim Hertwig, FECR's President & CEO and Juan M. Kuryla, Director and CEO of PortMiami, recently met with Panama Canal officials and toured the construction site for the canal expansion, which is scheduled to be completed in April 2016. Also in attendence were Phil Noury, FECR's Vice President of International...
Airbus ships first components by sea to Mobile port Airbus is using multipurpose ships to transport large components from Hamburg, Germany, to Mobile, Alabama, for production of the European aircraft manufacturer's first U.S.-built planes. Traditionally, Airbus has used air freight for transportation of components between its European plants. The company began moving some components by barges and short-sea roll-on, roll-off...
UK to sell remainder of Royal Mail LONDON - The U.K.'s newly elected Conservative government today announced it will sell the state's remaining 30 percent stake in Royal Mail to help reduce the country's bulging deficit. The sale of the postal and delivery company, which is expected to raise up to 1.5 billion pounds ($2.3 billion), will start...
US East Coast laden container outpaces West Coast traffic For the first time in recent decades, U.S. East Coast ports handled more loaded containers in the first three months of the year than their West Coast counterparts, demonstrating the profound and lingering shift in trade during and now in the wake of the West Coast labor crisis. Click to EnlargeNumbers...
West Coast shippers will ultimately pay for chassis storage When shipping lines this past year exited the chassis business at West Coast ports, they left unanswered an important question -- where is all of this equipment going to be stored? It is starting to appear that if chassis will continue to be stored at marine terminals, as they have been...
CLX Logistics appoints new VP of international operations Philadelphia, PA - CLX Logistics LLC has appointed Raimond van Kampen as Vice President of International Operations. In this newly created position, Raimond has overall operational responsibility for the company's international transportation and logistics activities that includes ocean and air freight as well as managed international logistics services. While working...
"K" Line adjusts executive responsibilities Kawasaki Kisen Kaisha, Ltd. ("K" Line) has decided on changes to Executive Officers' responsibilities, effective July 1 2015. 1. New Responsibilities Position Name New Responsibilities Senior Managing Executive Officer Tsuyoshi Yamauchi Control of General Affairs, Legal, Corporate Legal Risk & Compliance, Human Resources, Corporate Planning, Finance, Accounting, CCO(Chief Compliance Officer) Executive Officer Makoto Arai In charge of Legal, Corporate Legal...
Global air cargo growth slowing London-Global air freight traffic increased 3.3 percent in April from a year ago, but lagged the 5.3 percent rise in the first quarter as world trade growth slowed, the International Air Transport Association reported. "There has been no actual growth in aggregated global cargo volumes since late last year," the industry...
Josh Owen, trucking advocate, dies Josh Owen, president of Ability Tri-Modal in Southern California, died Tuesday. According to the California Trucking Association, Owen suffered a heart attack. He was 43. Owen was actively involved in the California and American Trucking Associations. He also participated in industry efforts to improve trucker turn times at the ports of...
Eurotunnel exits shipping after bitter battle with UK regulators LONDON - Eurotunnel, the operator of the rail tunnel between the UK and France, announced its exit from shipping operations between the two countries in July, ending a bitter three year battle with British competition regulators. The Paris-based company made the decision despite a UK court ruling in its favour that...
Carriers vie for growing India-China traffic China United Lines, part of Unitrans Group, has become the latest ocean carrier to try to tap growing demand on the intra-Asia trade lane by introducing a direct service between India and China. The weekly service, branded the China and India Subcontinent, kicked off with the May 17 sailing of the...
Surplus air cargo capacity means little room for rate hikes There is too much cargo capacity in the market to support rate increases, according to the AAPA.HONG KONG - Shippers will continue to reap the rewards of cheaper air freight rates as carriers struggle to balance demand with a surplus of cargo space, said Association of Asia Pacific Airlines director...
China's JLL head bursts talk of warehouse supply bubble HONG KONG - The head of China research for real estate company Jones Lang LaSalle has dismissed a market perception that rising investment in the logistics property sector over the last few years has created an oversupply bubble in mainland warehousing.Stuart Ross, head of industrial China for JLL Research, said...
Star Big sale confirmed Star Bulk Carriers confirmed that it has sold its second-oldest ship.
Carnival starts 'volunteer' line Carnival Corp launched a new cruise line Thursday that is focused on passengers who want to help make the world a better place when they travel.
Authorities to right ship Crews responding to the capsized Eastern Star disaster have started using a pair of 500-tonne cranes to right the ship, according to media reports.
SCI's LNGC hunt Shipping minister Nitin Gadkari has told state-run Shipping Corporation of India (SCI) to seek out second-hand LNG carriers for domestic contracts.
DNV okays Oshima design Japan's Oshima Shipbuilding Company has seen its LNG-fuelled kamsarmax design approved by DNV GL at Nor-Shipping today.
Teekay to raise $80m Teekay Tankers is looking to sell up to $80m of its common stock to secure cash that could be used for vessel acquisitions.
The human touch Shipowners seeking to improve operational performance should focus on more than the latest technological developments, Bob Bishop says.
Scorpio Bulkers sheds another five New York-listed Scorpio Bulkers (SALT) is selling another five newbuildings for $236m as its orderbook cull continues.
Jiangnan profit to surge China's Jiangnan Shipyard is predicting a much bigger profit this year as revenue grows.
BWO sells out BW Offshore has proved quick in completing a bond issue announced yesterday.
China cracks down China has ordered the operator of a capsized ferry to fix safety issues following the disaster that killed hundreds of people.
Dauelsberg to pay $750,000 Germany's Herm. Dauelsberg has received a fine of $750,000 and three years on probation for oily water dumping in Alaska.
Raising Amadeo I Salvage bill to refloat capsized Chilean ro-ro could top $100m.
Tri-fuel breakthrough? The most fuel-flexible ship engine yet has been developed by Wartsila, according to the company's ship power president Jaakko Eskola.
Hoegh closes on finance President and chief executive Sveinung Stohle is confident Hoegh LNG can continue its present momentum and lock up bank financing for two unfunded floating storage and regasification unit (FSRU) newbuildings.
Cash for Surf and Go Otto Marine units Surf Subsea and Go Sirius have struck loan deals worth $54m with a Chinese bank.
Party time The sun came out for the TradeWinds party at Nor-Shipping on Wednesday evening.
The diva and the dogs P&O Ferries has found itself in the middle of a tabloid scandal involving claims by Ariana Grande that her dogs were "almost murdered" on a cross-Channel sailing.
Sanchez plans terminal US-listed Sanchez Energy is said to be considering constructing a terminal to export US condensate, reports Platts.
Vallianz eyes expansion Singapore owner Vallianz Holdings is targeting ship buys after an investment fund bought new shares for $10m.
Samsung wins TOO trio Korea's Samsung Heavy Industries has emerged as the yard that will build Teekay Offshore's (TOO) new shuttle tankers.
Springfield converts OBOs Greek shipowner Springfield Shipping is converting two OBOs into VLCCs at Oman Drydock Company (ODC).
Otto Marine cuts staff Otto Marine has reduced its staff by 30% as part of its restructuring efforts announced earlier this year.
DNV GL examines safety, sustainability costs of alternative fuels 'Safety and sustainability have an impact on affordability'.
Aegean: New double-hull bunker barge for Vancouver Newbuild will 'more than double' firm's current operational capacity at the port.
Report: California oil spill pipeline was severely corroded Pipe had worn down to 1/16 of an inch, according to PHMSA document.
CLIA: IGF Code 'going in the right direction' 'We want to be able to build LNG-fuelled cruise ships but it has to make economic and practical sense to do so.'
Sulphur cap could have 'serious impact' on cruise sector No detailed studies behind proposals to cut sulphur content of bunkers used by cruise ships in southeast Australian ports.
Air clearing over Vancouver Marine measures showing benefits for city.
Tri-fuel choice with Wartsila's 31 unit Which is aimed at small to medium sized ships.
Shipbuilder wins approval for design for LNG-fuelled bulker LNG has 'huge potential' as a bunker fuel.
Fuel oil surplus builds in Asia Singapore stocks are at their highest level in more than 15-years.
LNG: Abundant supplies in search of a market Shift towards LNG in transport sector 'set to continue'.
Lack of infrastructure holds back Arctic shipping growth But fuel savings remain attractive.
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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