Pirates siphon off fuel from tanker off Indonesia A product tanker was robbed of its fuel cargo off Indonesian waters while en route to Labuan from Port Dickson. The International Maritime Bureau's (IMB's) piracy reporting centre stated that 15-25 pirates boarded the 6,509 dwt tanker Dongfang Glory from an approaching speedboat around 21.03 hours
Sewol will be hoisted if feasible South Korean president Park Geun-hye said that the capsized Sewol ferry will be salvaged if it is technically feasible. She said this during a meeting on 6 April with her senior secretaries. Park said the opinions of the victims' families and experts would be considered before making a final
AVIC Maritime takes majority stake in AZM Singapore-listed state-owned Chinese shipbuilding group, AVIC International Maritime, has taken a 60% stake in affiliated AVIC Zhenjiang Shipyard Marine (AZM). AVIC International Maritime, led by executive chairman Diao Weicheng, will acquire 3 million shares representing the 60% stake from
Busan New Port Distripark tops USD109 mil. Foreign investment in Busan New Port Distripark has totalled KRW118.3 billion (USD109 million) in the decade since it opened. Busan Port Authority (BPA) said that as of 2014, a total of 90 foreign companies have become tenants in the distripark, adding that it has succeeded in attracting such
VLGC rates slide further on slow trade A slowdown in LPG trade has caused very large gas carrier (VLGC) rates to slide again. On 2 April, the Baltic Exchange assessed the benchmark Ras Tanura-Chiba rate at USD79.25/tonne, working out to daily earnings of USD74,280 at current bunker prices in Fujairah. Indian Oil Corporation last week
ILWU caucus recommends new contract for US west coast port workers Rank and file union members to vote on deal; result due May 22
Smart move for containers A spate of recent deals suggest smart containers could finally be gaining traction within the industry
Internal alliance pressure boosting orders for ultra large boxships Cosco and China Merchants see the recent ultra large boxship ordering frenzy as outgrowth of the industry partnership model
Nurturing maritime growth The UK Chamber of Shipping may be in good health, but it will need to pull on its resources if maritime growth is to be a reality and not a handy figure of speech
MOL comes out swinging, but is it punch-drunk or a prize fighter? Will the Japanese carrier's order for ultra large vessels set it on a course for profitability, or contribute to industry overcapacity and put further pressure on profits?
Maritime Transport focused on the road ahead The container haulier has faced such challenges as the financial crisis and a shortage of drivers but says the solution to most problems is usually quite straightforward
Quick180 to offer box-matching at Savannah Quick180, which uses algorithms and a web application to match an importer's empty container with an exporter needing a box at an inland location, is expanding its service to the Port of Savannah. The move comes six months after Rick Knapp, former chief operating officer at Virginia International Terminals, launched Quick180.com...
NS imposes surcharge on westbound domestic intermodal loads Shippers' diversion of imports to the U.S. East Coast to avoid West Coast port congestion has caused an imbalance in domestic intermodal equipment, spurring Norfolk Southern Railway to implement a $500 surcharge on westbound domestic intermodal shipments interchanged with Union Pacific Railroad. Increased transloading of goods from ocean containers into the...
Stung by West Coast delays, retailers say worst is over Shipment delays through U.S. West Coast ports, compounded by severe late winter weather, cost some retailers sales in recent months, but they believe the worst is over and say inventory levels are returning to normal. Retailer warnings of lost spring sales during recent earnings calls with investors are a reminder that...
New York-New Jersey waterfront agency reviews warehouse regs The embattled Waterfront Commission of New York Harbor is trying to defuse one of the issues that New Jersey legislators cited in sending Gov. Chris Christie a bill to break up the bistate crime watchdog agency. Waterfront Commission members voted March 25 to direct their staff to conduct a 90-day review...
Questions surround Hapag-Lloyd service to Portland, Oregon In a development that could foreshadow the end of container-handling at the Port of Portland, Oregon, Hapag-Lloyd's service to the Pacific Northwest port has come into question - the carrier has no calls listed in the coming weeks at the port. "Although Hapag-Lloyd has not made an official announcement or given...
Quebec to spend $1.5 billion on maritime, surface transport infrastructure The Quebec government plans to invest some $1.5 billion over the next five years into the province's maritime and surface transportation infrastructure, according to an economic plan released late last month. The Quebecois government has promised $200 million to accelerate investment in commercial port infrastructure in the province, home to the...
CEO of newly profitable USA Truck takes medical leave John Simone, the CEO who drove USA Truck back to profitability last year after several years of losses, will take medical leave, the Van Buren, Arkansas company said today. The truckload carrier's board named Director Thomas Glaser interim chief operating officer. "The board understands that it is in John's best interests...
Lower demand dents Universal Truckload first-quarter revenue Slower U.S. economic growth, and particularly a slump in steel and energy markets, is dampening expectations for financial growth at Universal Truckload Services. The Warren, Michigan-based trucking company said lower than expected demand in February and March proved a drag on first-quarter revenue and profits. The company singled out lower demand...
Drewry: APL-OOCL merger talk likely just 'hot air' Rumors of a merger of APL and Orient Overseas Container Line were "probably not more than hot air," and even if true would not affect container shipping overcapacity, Drewry Maritime Research says. Drewry weighed in on the merger rumors in its weekly Container Insight newsletter. The London-based company said it had...
New intra-Asia service boosts alternative southeast India gateway Singapore-based regional carrier Bengal Tiger Line has introduced a new intra-Asia service, the MD2, connecting Krishnapatnam, India, to Malaysia and Singapore and giving the alternative gateway to India's southeastern hinterlands another boost. The fast-expanding private port of Krishnapatnam, which is about 112 miles north of Chennai, is an all-weather, deep-water facility with...
Employers, union work to protect competitive position of West Coast ports Having won overwhelming support from the International Longshore and Warehouse Union caucus for the coastwide contract that was tentatively reached on Feb. 20 with the Pacific Maritime Association, employers and union leaders are stepping up their efforts to eliminate the backlog of vessels and containers that have built up at...
Greeks claim record Another year, another record as far as the size of the Greek-controlled merchant fleet goes.
Transocean scraps two more Transocean says it intends to scrap another two of its offshore drilling rigs in the face of weak market conditions.
Hanjin inks CMA-CGM giants Hanjin Heavy Industries has finalized an order for three 20,600-teu containerships from CMA CGM, the shipbuilder confirmed Monday.
Cargo hold claims two UK authorities are investigating the death last month of two seafarers on a Carisbrooke Shipping general cargo vessel.
Paragon goes longer Paragon Shipping has broken with its short-term charter strategy to fix out two of its ships on longer charters
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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