Felixstowe port opens GBP60 million Berth 9 extension Therese Coffey and Clemence Cheng open the Berth 9 extension. Credit: Port of FelixstoweDeputy Leader of the UK's House of Commons Therese Coffey today opened the 190 m quay extension that increases the port of Felixstowe's capability to work two of the world's largest container ships simultaneously. "An ever increasing proportion...
Hanjin Shipping offloads 77% of H-Line stake In yet another move to raise funds, Hanjin Shipping has sold most of its shares in H-Line Shipping, the entity to which it divested its bulk and LNG shipping businesses in 2014. Hanjin received KRW120.365 billion (USD105.7 million) from the sale and leaves it with just 5% equity. Hanjin kept a...
Seatruck Ferries joins Irish Sea expansion drive Seatruck Ferries, a wholly owned subsidiary of Clipper Group in Denmark and the Irish Sea freight specialist, will add a third vessel to its growing Liverpool Dublin route, commencing 17 November, the company said in a statement. "The additional midweek departures will provide much needed peak capacity on a route which...
Nordic and Borealis form ice class stainless steel venture Nordic Tankers vessel Sten Nordic. Credit: FotofliteNordic Tankers, the Copenhagen based chemical carrier group, and Borealis Maritime, the London-based shipping company, have formed a joint venture, Crystal Nordic, which is 50/50 owned by the two and that will operate 15 stainless steel ice class chemical carriers, Nordic Tankers said in...
South Korea financial watchdog asks 17 banks to aid DSME Seventeen commercial banks in South Korea have been asked by their industry's regulator to assist troubled shipbuilder Daewoo Shipbuilding & Marine Engineering. Following the unveiling of a KRW4.2 trillion rescue plan by Korea Development Bank and the Export-Import Bank of Korea, the Financial Supervisory Service called for a meeting with vice-presidents...
Impact of expanded Panama Canal on VLGCs could be muted VLGC Ronald N's AISLive track between Panama and the GulfEven if the expansion of the Panama Canal were to be completed, the impact on very large gas carriers may be less severe than expected. Out of the 160 or so VLGCs in the market, only four - Ronald N, Karoline N, Clipper...
Maersk wants reform before investing in Indonesia port sector Indonesia's Tanjung Priok port. Credit: IPCMaersk will not make a major forward asset investment in Indonesia's port or domestic shipping sector until the government addresses a range of investment concerns, according to the president director of Maersk Indonesia. "We are here as a service company at the moment and have...
Jiangnan Shipyard clinches VLGC order Shanghai-headquartered Jiangnan Shipyard has secured the order to construct an 84,000 m³ very large gas carrier (VLGC) with an option for another vessel from Athen-based Naftomar Shipping & Trading. The contract marked the first working relationship between Jiangnan Shipyard, a subsidiary of China State Shipbuilding Corporation (CSSC,) and Greece shipowner Naftomar. Jiangnan...
Rickmers Trust Management back to profit for Q3 Singapore-listed Rickmers Trust Management (RTM) has returned to a net profit of USD8.9 million year on year for the third quarter ended 30 September 2015 from a loss of USD53 million in the same period last year. The profit was attributed to /RTM's high vessel-utilisation rate, a decrease in finance expenses,...
MISC revenue up 14.9% on improved freight rates Malaysia-listed shipping company MISC's revenue grew 14.9% on a year ago to MYR2.5 billion (USD585.2 million)in the third quarter of 2015, but the higher revenue only translated to a net profit of MYR504.1 million up 1% on a year ago. The surplus revenue, driven by the improved freight rates in...
Glencore cuts global coal output Cuts in Australia, South Africa, Colombia may impact already weak panamax market
Tanker Investments shies from ship sales talk Chief executive William Hung refuses to be drawn on timings, despite mounting interest in buying large tankers from the likes of Euronav
The results round-up Third quarter earnings stories from the maritime industry
Teekay Corp posts third-quarter losses on weaker offshore and gas results Energy shipping giant plagued by non-operational items but cash flows improve
GasLog posts lower third-quarter profit Swaps losses, higher operating costs and weak spot rates take their toll, but owner remains bullish on future
ICTSI flagship takes delivery of four RTG cranes Port operator continues upgrade of terminal equipment to avoid repeat of 2014 congestion chaos
Elektrans watches dry bulk sector as it adds suezmax Indian owner mulling dry bulk expansion as third tanker joins fleet
Hanjin Shipping records third-quarter profit amid soft freight rates Cost-saving efforts and forex gains bolster bottom line
Aker Philadelphia Shipyard pushes back delivery dates Yard posts quarterly profit boosted by vessel sales
Tanker Investments fails to impress Six new suezmaxes in the fleet did not make their mark in the quarter
Damen participates in Rotterdam port startup initiative Programme will be launched in March 2016
ODFL sees 'tremendous opportunities' for U.S., overseas growth ODFL CEO David Congdon rededicates the company's renovated headquarters. Photo courtesy ODFL. THOMASVILLE, NORTH CAROLINA - Old Dominion Freight Line understands utilization, not just of tractors, trailers and containers, but terminals, warehouses and office space. The less-than-truckload carrier rededicated a completely rebuilt corporate headquarters here yesterday, creating 300 new workspaces, a
Brazil government working to stop trucker strike The government of Brazil is scrambling to block a strike planned by independent truck drivers for Monday. Drivers want a reduction in the taxation of diesel fuel and the scrapping of fines imposed on them for the previous strike and "spontaneous roadblocks" carried out during a two-week period back in February....
ILWU office clerks sign contracts with some employers months before deadline In an abrupt change of events that could lead to labor peace among office clerical workers in Southern California for the next five years, the president of International Longshore and Warehouse Union Local 63 Office Clerical Unit said Thursday he signed individual contracts with three employers, and he has presented...
US House bill would trigger federal intervention in port slowdowns WASHINGTON - A year after acrimonious labor negotiations snarled traffic at U.S. West Coast ports, lawmakers have unveiled draft legislation that could trigger federal intervention to head off future slowdowns. Rep. Kurt Schrader, D-Ore., and Rep. Dan Newhouse, R-Wash., on Thursday introduced the bipartisan Ensuring Continued Operations and No Other Major...
Orbcomm swings to profit on doubling of revenue OG2 satellites used by Orbcomm to track assets. Credit: Sierra Nevada CorporationOrbcomm swung to a $1.6 million profit in the third quarter after the asset-tracking provider's revenue doubled to $46 million on growth from acquisitions and organic gains. The Rochelle Park, New Jersey-based company said its organic business rose 33 percent...
US trucking industry wins one battle in Congressl, loses another WASHINGTON - The U.S. trucking industry won one battle, but lost another in Congress this week. Lawmakers in the House of Representatives passed legislation that cleared the way for teenage truck drivers after killing an effort to increase current limits on truck weight. In a 181-248 vote Wednesday, the lower chamber...
Six-year US highway bill advances but without funding WASHINGTON - U.S. lawmakers took a serious step closer to a multi-year highway funding bill Thursday after the House of Representatives passed a six-year, $325 billion bill. In a 363-64 vote, House legislators passed the Surface Transportation Reauthorization and Reform Act, or STRR. The legislation authorizes highway funding for the next...
Port Metro Vancouver CEO says drayage conditions improving despite tension Renewed flare-ups of drayage driver discontent at Port Metro Vancouver have revived concerns that trucker disruption could return to the port despite moves taken to quell unrest. The British Columbia provincial government has said that six trucking companies have failed to follow drayage wages set by the Container Trucking Commission while...
USMX: Legislation to change labor negotiations unnecessary NEWTON, Massachusetts - The contract negotiation process between the International Longshoremen's Association on the East and Gulf coasts and management is on firm footing and in need of no change, according to Tom Simmers, executive president of United States Maritime Alliance. Rebutting calls for changes to the negotiation process - including through...
2016 shaping up as a turnkey year in Asia-Europe trade When Maersk Group in late October pinned all of the blame for slashing its 2015 profit outlook on a deteriorating container shipping market, it highlighted the depths of a crisis in the Asia-Europe trade ahead of what can only be called a make-or-break year for the world's largest shipping market....
Corvus attracts more investment Battery supplier says main interest is from maritime companies.
Singapore fuel oil inventories at four-month low Stocks are expected to fall further in the weeks ahead.
Firm Counter adds networking tool Trading website aims to build 'a community of bunker professionals', says chief executive.
US residual stocks climb The week-on-week rise in stocks came despite a fall in production from US refineries.
Meech: No growth in bunker demand despite low prices Thinks demand is softening this year and predicts low oil prices and slow demand growth in coming decade.
Algoma post weaker profits Weaker demand for shipments eating into revenue.
Second LNG-fuelled OSV starts work Vessel chartered to Shell for US Gulf operations.
Supplier: Biofuels to form 5-10% of global marine fuel mix by 2030 'It ticks so many boxes for so many organisations,' says GoodFuels CEO.
Teekay Tankers boosts profit 'Increased earnings, as bunker fuel prices remain low due to low global oil prices', it says.
Second LNG-fuelled OSV starts operations Vessel chartered by Shell for use at the Gulf of Mexico.
Global sulphur cap: 'Politics may overrule science' at IMO Also concern that those responsible for the availability study lack experience in refinery analysis.
Crude decreases as US stockpiles rise Stockpiles rose 2.85 million barrels last week.
World's 'first' LNG-powered boxship transits Panama Canal Panama Canal expansion expected to be open in 2016.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
