FSL Trust negotiates new timecharters Singapore-listed shipowner First Ship Lease (FSL) Trust has secured new timecharter contracts for three tankers worth up to USD61 million in revenue. FSL Trust announced on 6 July it had reached an agreement with a commodities trader to charter the 2005-built, 47,496 dwt products tanker FSL
Port of Hirtshals opens Denmark's first LNG terminal Denmark's first liquefied natural gas (LNG) bunker terminal has begun operations at the Port of Hirtshals. Operated by cruise-ferry company Fjord Line and built by the Liquiline Group, the facility has a 500 m³ storage tank and will initially only bunker Fjord Line's two LNG-powered cruise ferries,
Rolls-Royce to lead autonomous ship research project Rolls-Royce is to lead a new EUR6.6 million (USD7.3 million) project that could pave the way for autonomous ships. The Advanced Autonomous Waterborne Applications Initiative will produce the specification and preliminary designs for the next generation of advanced ship solutions. The project is
Asia's first LNG-fuelled tugboat delivered China National Offshore Oil Corporation (CNOOC) has taken delivery of Asia's first liquefied natural gas (LNG)-fuelled tugboat, Hai Yang Shi You 525. The decision to operate on LNG follows the Chinese government's 2011 plan to strengthen its maritime base with the manufacture of high-end,
Italian cabinet approves draft ports reform The Italian cabinet has given preliminary approval to proposed reforms that will see the number of port authorities reduced to 13, with several ports sharing the same administration. Infrastructure and transport minister Graziano Delrio presented the draft law on 2 July and it will now go before
Marine engine makers collaborate on major R&D project A major cross-industry initiative to develop basic technologies for use in two- and four-stroke marine engines has been officially launched Led by Wärtsilä, MAN Diesel & Turbo, and Winterthur Gas & Diesel, the Hercules-2 project aims to foster environmentally sustainable and more efficient
IMO backs fair treatment training The IMO's Technical Co-operation Committee (TCC) has approved the development of training material that aims to better implement seafarer fair treatment guidelines. The decision comes in response to a request from Seafarers' Rights International (SRI) last month for the IMO to provide technical
Anti-piracy ship crew face trial in India on arms charges The 35 crew of anti-piracy ship Seaman Guard Ohio are to face trial in India on charges of illegally carrying weapons and straying into Indian waters, after being held for 21 months. The Supreme Court in Delhi referred the case back to the magistrates' court in Tuticorin, Tamil Nadu, overturning a
Samsung HI denies exit from wind energy sector South Korean shipbuilder Samsung Heavy Industries (SHI) has refuted media reports that it plans to sell its wind energy businesses in Europe. Rumours that South Korea's second biggest shipbuilder would sell those businesses, which include an offshore wind turbine test centre in Fife, Scotland, grew
Pacific Radiance's earnings to dip in 2Q15 Singapore-based offshore oilfield service provider Pacific Radiance could suffer what would possibly be its worst-ever quarterly earnings for the second quarter of 2015, opined UOB Kay Hian Securities on 6 July. This is because none of the company's diving support vessels (DSVs) have been utilised
Newbuilding orders decline in May Newbuilding orders continue to decline in April 2015 as freight rates for bulkers and LNG carriers remain sluggish. Statistics compiled by Greek broker Golden Destiny showed that 113 ships were ordered in May, down from 134 in April and 158 in May 2014. Only 11 bulkers totalling 447,400 dwt were
Otto Marine secures $26m for ship refinancing Singapore-listed offshore services provider Otto Marine has secured a USD26 million term-loan agreement with a US investment firm for the refinancing of multipurpose cargo vessel Surf Challenger and general working capital. The loan agreement was sealed by Surf Subsea, a company incorporated in the
Chinese vessel exports' growth weakens to 19.1% y/y Chinese vessel exports' growth decreased to 19.1% year on year (y/y), with total exports at USD12.8 billion in the first five months of 2015, according to customs statistics. In May alone, the exports decreased 15.9% y/y to USD2.4 billion, the customs said. The exports are forecast to decrease
Philippines prosecutors to assist ferry victims' families The Public Attorney's Office (PAO) in the Philippines will provide free legal aid to the families of those who drowned when Kim-Nirvana B sank on July 2. This is a worsening of the legal position of the vessel owners who have been charged with murder following the disaster that has claimed 61
Tug in Orkim Harmony hijacking identified The Indonesian navy said it has identified a tug used to hijack Malaysian-flagged tanker Orkim Harmony in June 2015. The tug was identified as Meulaboh, and was found abandoned near Pulau Seloko off Batam around 10:00 h by the Indonesian Navy's Western Fleet Command's (KOARMABAR) Quick Response
Viking bags second charter worth $31m Singapore-listed offshore services provider Viking Offshore & Marine has clinched a 48-month charter for a second land drilling rig system at approximately USD31 million. The charter is signed by its subsidiary Viking LR2, which will lease a 1,500 bhp train-type land rig and related drilling
China shipping confidence index hits two-year low China's shipping industry confidence index for the second quarter of 2015 was in relatively stagnant zone at 65.64, a two-year low, while the China Shipping Prosperity Index has remained stagnant for two straight quarters. Shanghai International Shipping Institute (SISI), in the China Shipping
CMES forecasts 1H15 profit to double China Merchants Energy Shipping (CMES) projects that its profit would be more than doubled in the first half of 2015 from a year ago. The range of growth would be between 110% and 130% year on year (y/y) during the first half of 2015, a stock filing of CMES said. The surge in profit would be a
Iran poses risk to VLCC tonne miles Iran's prices will be key for Asian customers choosing Iranian crude over cargoes from further afield such as West Africa
Seaman Guard Ohio crew face further wait for trial Indian judge refers case back to magistrates' court
FSL wins new time charters for three tankers Deal is expected to generate up to $61m revenue over the next three years
Evergreen to book ten 2,800 teu ships at Imabari, CSBC Deals would be first direct orders from world's fourth largest carrier in four years
First valemax visits Qingdao after Beijing lifts ban Age of the mega ship begins for China's bulk ports
Indian demand heats VLGC spot market as record levels loom Supply-demand balance strengthens owners' negotiating power with charterers
Sluggish market triggers bulker demolition binge But BIMCO predicts full-year scrapping volume may fall short of 2012 record due to demand recovery
Shipping is part of the solution for Greece, not the problem What now for the country's shipowners as voters shock Europe with 'No' vote?
Second survey finds sharp fall in industry morale Only one shipping company in three is upbeat on current outlook
The price of preparedness If threats are going to change rapidly, the need is surely for quickly adaptable warships, and the offshore sector can teach us something
DOT Study: Bigger US trucks won't hurt intermodal rail WASHINGTON - A U.S. Department of Transportation study couldn't conclude whether larger trucks impact highway safety, but it did find they would not significantly impact intermodal conversions. Proponents for raising the weight and size restrictions on trucks have heralded the finding, despite the DOT's claims that the evidence behind their own...
Container lines unlikely to avoid Suez Canal despite foiled attack Container lines won't reduce the amount of cargo moving through the Suez Canal despite heightened security tensions - most recently inflamed by the reported arrest of 13 people on suspicion of planning to sabotage the waterway integral to trade between Asia and the Europe, and increasingly the U.S. Even after Egyptian...
Puerto Rico debt crisis revives Jones Act debate Puerto Rico's fiscal crisis has rekindled criticism of the Jones Act, the cabotage law requiring the use of U.S.-flag vessels for shipments between the commonwealth and the U.S. mainland. A paper by three economists led by Anne O. Krueger, a Johns Hopkins University professor and former chief economist at the World...
Italy to reorganize administration of country's ports Italy's port sector is sinking in bureaucracy, and Prime Minister Matteo Renzi is doing something to keep it afloat. In an effort to salvage some of the market share the country's ports have lost to Mediterranean competitors, Renzi has issued a decree mandating the reorganization of Italy's port administrations. Each port...
CEVA receives Huawei's Annual Partner Award HOUSTON, Texas, 6 July, 2015 - CEVA Logistics, one of the world's leading non-asset -ased supply chain management companies, today announced that it is the recipient of the 2014 Annual Partner Award from Huawei Technologies USA. Huawei's Annual Partner Award is a singular accolade - it is the company's sole award...
Shippers gain trucking conditions visibility via expanded tech platform A software company that provides information on truck stops, weigh stations and other on-the-road services to U.S. truckers is now offering a free beta test of its freight marketplace platform to the public. The San Jose, California-based developers behind the Trucker Path smartphone app have announced they will be expanding the...
LA-Shanghai spot rate index hits year-low A spot rate index measuring the cost of shipping a 40-foot container from Los Angeles to Shanghai this week fell to its lowest level of the year, reflecting declining Chinese demand for U.S. exports. Spot rates in the first week of July fell 8.5 percent year-over-year to $611 per FEU, according...
SSA replaces APM Terminals at Jacksonville port APM Terminals has ceased its operations at the Port of Jacksonville, and SSA Marine will provide stevedoring for the 2M Alliance's recently launched TP10/New Everglades service. The change was prompted by the Horizon Lines' exit from Jacksonville at the end of 2014, APMT said in a statement. Horizon ended its U.S....
Kenya to begin dredging for Mombasa rail terminal project As Kenya continues to compete with Tanzania to capture cargo headed for the interior of Africa, dredging to host a rail terminal that will connect the Port of Mombasa to the capital of Nairobi is set to begin. The dredging of 13.3 acres from the Indian Ocean is set to begin...
Grimaldi orders three more car carriers LONDON - Italian shipowner Grimaldi has ordered three new car carriers, with an option for a fourth vessel, just three weeks after signing a contract for five ships and an option for seven more, taking its total investment to $465 million and underscoring the revival in the global automotive industry. China's...
U.S. Shipping Corp. refinances debt U.S. Shipping Corp., a provider of long-haul marine transportation services in the U.S. coastwise trade, completed a refinancing of existing debt that had a scheduled maturity of April 2018. The new debt, with a scheduled maturity in 2021, carries a lower interest rate and provides U.S. Shipping with more traditional lending...
Antwerp sets up "One Belt One Road" task force to boost China trade LONDON - The port of Antwerp is setting up a task force to capitalize on China's "One Belt One Road" strategy aimed at boosting trade with Europe. Europe's second largest container port said it has the potential to play a "very important" role in the two main components of Beijing's program...
Browning named cargo supply chain manager at DP World London Gateway LONDON, 6 July 2015 - DP World London Gateway has appointed Andy Browning as Cargo Supply Chain Manager. Andy brings more than 30 years of experience designing and establishing global supply chain and logistics solutions that drive efficiency and unlock value. His career to date has featured achievements at both international...
Gdansk is fastest-growing Asia-Europe market The Port of GdanskLONDON - The G6 alliance's decision to call at Gdansk on its Asia-Europe service reflects Poland's status as the fastest growing market on the trade, according to Drewry Maritime Research. The G6 Loop 7 service, which is scheduled to make its first call on August 10, will be...
Mexico's port investment crucial to country's long-term future As Mexico's manufacturing output has increased steadily over the last decade, so has the throughput of its major ports along the Gulf of Mexico and Pacific Ocean. Mexico in 2014 handled more than 5.7 million 20-foot-equivalent container units a year, behind only Brazil and Panama in Latin America, and 10...
Pouring cold water on sharing the blame Q: I'm a third-party agent. One of my customers sent a shipment consisting of four electronic control units that were fully crated. The consignee signed for a clear delivery (no visible damage to the crate). Upon opening, it was discovered that one panel was in fact damaged. My customer submitted...
Kerry Logistics Europe head dies at 54 Gary Wilcock.HONG KONG - Gary Wilcock, managing director of Kerry Logistics Europe, passed away on June 21 after a short battle with cancer. He was 54.Under Wilcock's management, Kerry Logistics Network in Europe grew from a single business unit in the UK to an operation that now has a presence...
China drones on as world's leading flying platform maker Shenzhen-based technology firm DJI has a 70 percent share of the market.HONG KONG - The world's insatiable appetite for civilian drones was evident in China's trade figures that showed 160,000 units of civilian drones worth $120 million were exported from January through May this year.Incredibly, the number of drones exported...
Sentiment slumps Shipping industry sentiment deteriorated sharply over the past year as market participants fret over overcapacity, according to a survey by Norton Rose Fulbright.
EMAS Offshore bags $24m EMAS Offshore unveiled $24m in new contract wins as the Oslo and Singapore-listed offshore vessel owner reported an improved quarterly profit.
Crew dispute sparks protest Some 200 people are have marched on the Australian island of Tazmania over a crew dispute on a GS Caltex-chartered, Teekay-owned tanker.
How to save $20m in IPO fees Wells Fargo analyst Michael Webber has challenged what he sees as the prevailing wisdom that a merger of Frontline and Frontline 2012 automatically elevates John Fredriksen back to the top of the tanker tree on his own.
Suez "bomb plot" foiled Egyptian police have arrested 13 members of a cell allegedly planning to bomb the Suez Canal.
ITF calls for debt relief The International Transport Workers' Federation (ITF) is backing calls for Greece's creditors to cut its debts.
Diana trio tied up Diana Shipping has secured fresh employment for one of its panamaxes and an extended deal for two other vessels.
Yard seizure reversed An Italian judge has ordered police to release parts of Fincantieri's Monfalcone yard seized last week.
DNB raises Frontline Analysts bump up rating and hike profit forecasts for tanker owner post merger.
Sinha to run SCI? Shipping Corp of India's (SCI) personnel and administration director BB Sinha has emerged as the frontrunner in the race to become its new leader.
Hoping for the best... Greek voters' decision on Sunday to back their government in its collision with the EU and the IMF has sharpened concerns in the local shipping industry.
FSL fixes tanker trio First Ship Lease has secured two-year contracts for three of its tankers worth a collective $61m.
Evergreen signs for 10 Taiwan's Evergreen Marine has firmed up its near-$400m order for 10 feeder containerships.
Affinity adds clean desk Richard Fulford-Smith's Affinity Shipbrokers has continued its rapid growth with the addition of a 10-strong clean desk.
Another three for Grimaldi Italy's Grimaldi Group has continued its newbuilding spree with an order for a firm trio of pure car truck carriers (PCTCs) in China.
Harren targets wind work German owner Harren & Partner has formed a new joint venture to target offshore wind power installation and maintenance contracts.
Gulf Marine in new first Gulf Marine Services of the UAE has won its first decommissioning contract for a self-propelled self-elevating support vessel (SESV).
Samsung: no sale Korea's Samsung group has responded to speculation over its intentions for Samsung Heavy Industries by denying any plan to sell.
LNG view 'over-optimistic' JP Morgan has initiated coverage of three LNG shipping stocks amid a warning the market is expecting too much from the sector.
Cargoship refloats A cargoship has freed itself after grounding off Norway on Saturday.
Monopoly ending? Brazil is likely to pass a new law that will open up its subsalt oil fields to foreign players.
Gail raises the stakes Gail (India) has further complicated the race to build nine LNG carriers for its US imports by asking domestic shipyards to buy into the vessels.
Car wash snares Vantage Vantage Drilling has moved to distance itself from any links with the massive Petrobras bribery and money-laundering probe.
CMES bullish on prospects China Merchants Energy Shipping (CMES) is anticipating a much improved first half to the year due to the booming tanker market.
PE targets Mols-Linien Danish ferry company Mols-Linien is the subject of a takeover bid by compatriot private equity company Polaris.
Carwash snares Vantage Problems continue to mount for US-listed driller as it looks to refute claims linking it to Petrobras scandal.
Hedland sets double record World's largest iron ore export facility sees new monthly and half year volume highs.
Diana stacks the shelf Diana Shipping has positioned itself to sell securities worth up to $500m, according to a filling to US financial regulators.
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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