Collision slows traffic on Mississippi River New speed restrictions have been set up on the lower Mississippi River following a tanker-bulker collision on 6 April. The collision, which took place near Convent, Louisiana, occurred when the Bariba Group-owned, 81,434 dwt bulker Privocean broke free from its mooring and drifted downriver before
Yemen ports become focus for rebel attacks Ports in Yemen are increasingly coming under attack from Saudi and Gulf Co-operation Council states as they attempt to regain control of areas run by Shia Houthi militias and al-Qaeda jihadis. The Yemen Times reported yesterday that the strategic port city of Aden, the last stronghold of forces
Maldives seethes over unpaid reef damage fines Fines imposed on ships that have damaged coral reefs in the Maldives have not been paid, an audit has revealed. The worst offender identified by government auditors is the then owner of fish transporter Emerald Reefer, which damaged part of the Muli Kolhu reef near Addu in November 2011. The
MT Maritime continues to expand its fleet US chemical tanker operator MT Maritime Management has ordered four new vessels in order to expand its fleet. According to the company's website, it has two 21,000 dwt chemical tankers on order at Kitanihon Shipbuilding, which are scheduled for delivery in January and March 2018. MT Maritime also
KTL Global eyes M&A Singapore-based KTL Global, which manufactures specialised ropes and slings for the offshore and marine industries, said it is eyeing mergers and acquisitions (M&A) amid challenging times for the sector. Speaking at a press conference on 7 April, company operations chief Mark Beretta discussed
Taiwanese top container lines to gain more profit in 2015 Taiwan's top three container carriers Evergreen, Yang Ming, and Wan Hai may have better performance and profit than in 2014, boosted by the high freight rates of America West Coast services and low oil price, reported local media on 6 April. According to the Shanghai Shipping Exchange weekly index
Crews rescued from two scrap ships off Alang Seventeen crew members have been rescued from two ships that ran into trouble on their way to a ship recycling yard at Alang, India. The ships are described by Indian media as Yemeni- or Omani-flagged. The two vessels were anchored 15 n miles from the Gujarat coast awaiting final clearance to enter
Mining bust sends Atlas Iron to the brink The crash in the iron ore market, which has sent prices plunging 60% to a 10-year low in recent months, may have claimed its first Australian high-profile victim. Pilbara junior Atlas Iron on 7 April notified the Australian Securities Exchange that it was seeking a voluntary and immediate
Momentum returns to ship recycling market Cash buyers became more bullish last week as sentiment picked up in South Asia's ship recycling market. Prices in Bangladesh improved to USD385/ldt for bulkers and USD410/ ldt for tankers, compared with USD380/ldt and USD400/ldt two weeks ago. Prices in India trailed levels in Bangladesh by
Crew of 14 rescued off Shandong after collision A total of 14 crew members were rescued on 5 April after two bulk carriers collided off Shandong, China, according to local authorities. China-flagged Yang En 1, collided with Marshall Islands-flagged Panamax MARIA G.O. at 12:10 h local time on 5 April, a statement of Weihai Maritime Safety
Ningbo port container traffic up in first quarter China's Ningbo port handled 5.48 million teu in the first quarter of 2015, up 13% year on year (y/y), Shanghai-listed Ningbo Port Group announced on 3 April. The port's cargo throughput stood at 131 million tonnes, an increase of 0.1% from the first quarter of 2014, stated the group, and its
China vessel exports up 38.5% y/y China's vessel exports rose 38.5% year on year (y/y) to USD6.1 billion in the first two months of 2015, according to customs statistics. The exports are likely to decrease later this year as new orders placed at Chinese shipyards have been tumbling since late 2014, China National Association of
Triyards profit drops 34% Singapore-listed offshore services provider Triyards Holdings recorded a drop in profit to USD5.1 million or 34% year on year (y/y) for the second quarter ended 28 February 2015 due to lower revenue. The company's earnings suffered a decrease of 18% y/y to USD61.1 million from USD74.5 million.
EMAS Offshore net profit up 143% Singapore-listed offshore services provider EMAS Offshore posted a net profit of USD9.66 million or 143% up year on year (y/y) for the second quarter ended 28 February 2015 despite lower earnings recorded. The company's revenue dropped 10% to USD60.9 million in the second quarter of 2015 as
Hanjin Shipping to sustain profits in 2015 Hanjin Shipping is expected to see better times in 2015 as its restructuring efforts are paying off, said an analyst. NH Investment & Securities analyst Martin Song explained that South Korea's biggest shipping company is expected to sustain profits in 2015 due to lower bunker prices and better
SapuraKencana gets largest Islamic loan Malaysian drilling company SapuraKencana Petroleum has secured what it says is the world's largest Islamic loan facility. Maybank Investment Bank co-ordinated a consortium of 11 Malaysian, regional, and international banks to grant the USD2.3 billion loan to SapuraKencana, Malaysia's biggest oil
Cambodia clamps down on illegal sand dredging Phnom Penh Municipal Court on 4 April fined and released 10 workers arrested in a crackdown by the Ministry of Mines and Energy on illegal sand dredging operations. The ministry has been campaigning to stop illegal sand dredging operations since Prime Minister Hun Sen gave it the sole
Standard syndicate begins underwriting Syndicate has already underwritten a number of risks following April 1 start date
Greek government pledges to plough ahead with Piraeus port sale But uncertainty persists about the stake to be kept by the state
Hapag-Lloyd drops Portland call German carrier follows Hanjin in cancelling future sailings as US port pays the price for continued service disruption
Improving rates spur flurry of demolition deals Owners lured to the negotiating table as steel price and weak freight rates ensure steady supply, despite longer-term uncertainty
Surge in US Gulf and Caribbean aframax earnings as Mexican oil cargoes help soak up tonnage Sharp rise to earnings of $66,000 per day highlights fresh opportunities for aframax owners in spot market
APMT aiming for world top slot in 2016 Chief executive Kim Fejfer tells how the terminal operator plans to hit its target of $1bn in net profit by next year
Lloyd Fonds fails first attempt at listing, but promises a second shot Company to revise offer after investors decline to give required 75% backing to KG rescue plan
FMC to review port congestion and alliances Closed session to be held next week
Data Hub: World Fleet Update Big boxship orders continue as the latest figures from Lloyd's List Intelligence show that the total containership fleet capacity has now reached 8.3m teu
Data Hub: Trade Statistics Exports from South America increased by 3% last year but imports suffered a decline
Data Hub: Load Factors Utilisation levels tighten on Asia-Europe trades
Data Hub: Freight Rate Quarterly Rate rot: Challenging times ahead for carriers as the volatility of global spot market freight rates is all too clear
FedEx-TNT deal set to boost duo's Latin American footprint After FedEx Corp. unveiled a $4.8 billion deal to acquire Dutch company TNT Express this week, the immediate focus was on how the merger would significantly boost the U.S.-based company's footprint in the European express market. But other markets will feel and impact, too, according to a report from research and...
Port of Oakland says most diverted vessels have returned In one of the more positive developments to affect West Coast ports since the announcement of a tentative coastwide longshore contract on Feb. 20, the Port of Oakland reported Tuesday that vessels which had been by-passing the Northern California port to keep on schedule have mostly returned. "Some vessels that were...
FMC meeting on 'unreasonable' demurrage charges closed to public The U.S. Federal Maritime Commission on Monday is expected to present its much-anticipated findings on whether shippers face unreasonable demurrage charges tied to congestion. But because the meeting is closed to the public, the industry won't immediately learn what the agency's staff has determined. The FMC has been looking into accusations...
50 largest US truckers add more than $10 billion in revenue The 50 largest U.S. trucking companies increased their combined revenue by 10 percent to $117 billion in 2014, as the U.S. economy reached and maintained a higher growth rate. That's the best performance for the Top 50 Trucking Companies since 2011, and nearly double the 5.5 percent growth rate they enjoyed...
Trans-Atlantic carrier reliablity plunges to lowest level in three years Click here to enlargeTrans-Atlantic shippers in February experienced the worst service in three years, according to SeaIntel Maritime Analysis. Schedule reliability, which had fallen in the last four months, dropped to 49 percent on the westbound leg and 57 percent on the reverse leg. Schedule reliability on the trade lane over...
Hamburg Sud usurps Maersk Line as most reliable carrier, SeaIntel says Hamburg Süd led the container shipping industry in on-time service in February, putting an end to Maersk Line's six-month hold on the top spot, according to SeaIntel Maritime Analysis. The latest reliability report from the Danish research firm also marks the first month of overall improvement since major congestion began brewing...
Container lines' profits remain thin ahead of 'challenging year' Ten of 17 large container ship lines reported operating profits last year but slumping freight rates held average margins to 2.7 percent, according to an analysis by Alphaliner. Overall results were an improvement from the 0.1 percent average margin in 2013, but Alphaliner said lower freight rates and vessel utilization will...
East Coast container imports near parity with West Coast traffic East Coast containerized imports in February almost reached parity with West Coast imports, demonstrating the profound shift in trade that has resulted from port congestion and work slowdowns by the International Longshore and Warehouse Union at West Coast ports. The coming months will determine how much of the shift will...
NY-NJ port's loaded TEUs rose 14.1 percent in February The Port of New York and New Jersey posted year-over-year increases in February of 14.1 percent in loaded 20-foot-equivalent units and 14.8 percent in combined full and empty TEUs. Click to enlargeMuch of the increase was attributable to year-over-year comparisons with a soft February 2014, when severe winter weather produced a...
Santos shippers grapple with delays as blaze continues Shippers moving goods through Santos are grappling with road restrictions around Brazil and South America's largest port, as firefighters attempt to squelch a fire at a liquid bulk terminal that's been blazing for five days. More than a hundred firefighters, including specialists from oil company Petrobras, have been fighting the...
California trip by Florida governor shows depth of port gamble When a $205 million dredging project is completed this summer at the Port of Miami, allowing large ships that will soon transit the expanded Panama Canal to call at the Southeast port, Florida Gov. Rick Scott will likely be there - perhaps with giant ribbon-cutting scissors in hand - to...
Sea Star adds third container barge to Puerto Rico trade Sea Star Line has added a third container-carrying barge to handle increased demand following the departure of Horizon Lines from the U.S. mainland-Puerto Rico trade. The newly chartered barge has capacity of 320 containers. In January, the carrier added two barges with capacities of 375 40-foot-equivalent units each. Sea Star also...
CMA CGM joins 20,000-TEU club, with three-ship order CMA CGM has become the third member of the 20,000-TEU club with an order for three of the world's largest container ships. Korea's Hanjin Heavy Industries confirmed today it will build three 20,600-TEU vessels for the French ocean carrier at its Subic yard in the Philippines, with delivery scheduled for the...
TNT seeks buyer for cargo airlines in wake of FedEx deal TNT Express said it will open talks shortly with potential buyers of its cargo airlines following FedEx's agreed 4.4 billion-euro ($4.8 billion) takeover. The Dutch group must sell its two airlines, TNT Airways, which operates out of Liege, Belgium, and Madrid-based Pan Air Lineas Aereas, to comply with European Union rules...
India's major ports see 6.7 percent growth in container volumes Container volumes grew 6.7 percent year-over-year in fiscal year 2014-2015 at India's major ports owned by the federal government, according to provisional port figures compiled by JOC.com. The latest statistics show cumulative yearly traffic totaled nearly 8 million 20-foot-equivalent units in the April 2014 through March 2015 period, up from 7.46...
FedEx to buy TNT Express for $4.8 billion FedEx Corp. on Tuesday unveiled a €4.4 billion ($4.8 billion) agreed takeover of TNT Express, two years after European regulators shot down United Parcel Service's bid for the Dutch company. The deal, which was hammered out in six weeks of negotiations, will significantly boost FedEx's footprint in the European express market,...
So what is China's 'One Belt One Road' thing, anyway? This CCTV News map shows the Silk Road Economic Belt over land and the Maritime Silk Road enhancing connections between China, South Asia, Africa and Europe.HONG KONG - The term "One Belt One Road" has invaded reports on China trade over the past few weeks, with Beijing officials rarely missing...
TPM 2015 Sponsor: Direct ChassisLink Inc. Ron Joseph, Senior Vice President and COO of Direct ChassisLink Inc. on the current needs of chassis customers and the recent launch of a "pool of pools" concept that allows for interoperability between the three major chassis operators. ...
Triple deal nets $52m Three year time charters for a trio of medium range newbuildings is set to bring $52m to d'Amico International Shipping.
SweOffshore buys ferry The Swedish offshore accommodation specialist, SweOffshore, is the new owner of the former Tallink ferry, Regina Baltica.
Winner or loser? Diana Shipping has agreed a new charter for the 73,630 dwt panamax bulk carrier Protefs (built 2004) at a 30% discount to the vessel's previous employment.
Genesis set for ship buys? A move by Genesis Energy to raise about $200m through a share offering has prompted speculation that the funds could be used to extend its Jones Act shipping business.
Viking wins $45m deal A contract that will keep the ice capable anchor handler Vidar Viking employed in the Russian far east has been agreed by Viking Supply Ships.
Mississippi mayhem A trio of vessels have been involved in a major pile-up on the lower Mississippi in the US state of Louisiana, Monday.
Triyards doubles up Triyards, the Singapore offshore yard group, has secured a second series of new contracts worth $100m in as many months.
EPD boosts LPG capacity Enterprise Products Partners has completed the latest phase of expansion at its LPG export terminal in Texas.
RCL boosts Yangon links Regional Container Lines (RCL) is linking two of its liner services to create a direct service between Thailand and Myanmar.
Vietnam bulker arrested A small Vietnam-owned bulker has been placed under arrested in Singapore, latest court documents show.
Houston-based seminar to focus on LNG as a marine fuel Event to be held later this month.
Petrobras resumes bunkering ops in Santos 'In efforts to normalise operations as soon as possible'.
Bunkering in Santos 'likely' to begin soon According to a source from Petrobras.
OW's exit an opportunity for WFS WFS boss sees growth ahead.
Praise for Maersk Line's CO2 target 'The transport sector is one of the most difficult areas to reduce CO2 emissions.'
Sulphur extraction technology installed on cruise ship Triton Emission Solutions has completed the installation of a pre-combustion fuel purification system.
Lawyers say OW investors have case against Altor Say former owner should be accountable as it had knowledge of mistakes in prospectus.
'Cloud-based', fuel management system for UASC Software provider say system 'minimises impact of fluctuating prices, streamlines bunker procurement and delivers efficiencies'.
Ship manager fined for breaking California's pollution rules Follows court case between manager and owner of vessel.
New LNG bunkering loading arm goes to market Equipment promises 'safer amd more secure' gas transfers.
LNG ready containership calls at UK port The MV Sajir is operating on the Asia-North Europe route.
Mississippi ship collision causes oil spill Three vessels involved in incident.
Update: Bunker deliveries to resume at Santos After a fire at fuel storage facility on Thursday.
DNV GL: Distillate 'most obvious choice' for shipowners in ECAs 'The investment requirement is moderate', it says.
Chinese bunker firm aborts acquisition plans Company fails to reach agreement with counterparty.
Indian port to get more bunkering facilities Public oil companies express interest in project.
Stena Line sees bigger role for methanol-powered shipping 'We want to pursue change and development in the shipping sector', says Stena Line spokesman.
Oil tanker refloated in US Gulf After grounding near Galveston on Tuesday.
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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