US authorises cruises to Cuba Carnival has become the first cruise line to receive approval to operate cruises directly between the United States and Cuba in more than 50 years. The cruise giant announced on 7 July that the licences, granted by the US Treasury and Commerce departments, authorise travel itineraries to Cuba "for
Rolls-Royce share slumps after third profit warning In an inauspicious start to his reign, new Rolls-Royce CEO Warren East has informed the London Stock Exchange that the British engineering group's projected 2014 bottom line will be in the GBP1.325-1.47 (USD2.05-2.28) billion range - down from EUR1.4-1.55 billion (USD2.17-2.40). "I am clearly
News insight: This week's Movers NHC head to stand down John Wiik will step down as CEO of the Norwegian Hull Club (NHC) on 1 January 2016. He has successfully steered the Club through years of growth and prosperity to create one of the largest pure marine underwriters in the industry. He will be replaced by Faz Peermohamed, a
Cargo ship runs aground off La Gi, Vietnam A Vietnam-flagged cargo ship laden with 3,000 tonnes of rice has run aground off La Gi, Vietnam. Hai Truong 36 with IMO registration number 8656154 was stranded at 10 29' 45''N, 107 50' 37"E at 02:00 h local time on 5 July. The 2009-built, 3,083 dwt vessel sustained breach in its hull and took in
International dry bulk shipping to pick up in the short term The international dry bulk shipping market is expected to pick up in the second half of 2015, Shanghai International Shipping Institute (SISI) said in a report. However, a recovery to the average level recorded in the past years in the market lies far away, SISI said. The institute also gave more
ShinaSB makes second attempt at sale South Korean mid-tier shipbuilder ShinaSB is up for sale again, after a previous sale attempt fell through. Potential buyers submitted letters of intent to ShinaSB's shareholders on 30 June and assessment of the bids began the following day. This is ShinaSB's second attempt at a sale after an
EMAS Offshore records net profit of $5.18m Singapore-listed offshore services provider EMAS Offshore has posted a net profit of USD5.18 million for the third quarter that ended on 31 May 2015, as compared with a profit of USD0.18 million in the third quarter of 2014. The increase in profit was attributed to contributions from the company's
Triyards wins liftboat orders worth $175m Singapore-listed offshore services provider Triyards Holdings has won liftboat orders worth USD175 million. The vessel orders comprise two enhanced BH450 series liftboats, which will be the third and fourth liftboat in the series to be built by Triyards. "Each of these lattice-legged vessels, the
Evergreen confirms orders for 10 box ships Taiwanese carrier Evergreen announced on 6 July that the company has decided to order 10 2,800 teu container ships at Taiwan's China Shipbuilding Corporation (CSBC) and Japan's Imabari Shipbuilding. The carrier will order five box ships at CSBC at the price of USD36-39 million each, with total
EMAS Offshore bags West Africa, Thailand jobs worth $24m Singapore-listed offshore services provider EMAS Offshore has clinched three charter contracts worth USD24 million with oil majors in West Africa and Thailand. Under the West African contract, EMAS Offshore will provide anchor handling tug and supply (AHTS) vessels for sea transportation services,
Headwinds emerge again for ship recycling The ship recycling market will not be spared from the uncertainties resulting from Greece's financial crisis and the stock market plunge in China. Dubai-based cash buyer Global Marketing Systems (GMS) said that 29 June-3 July was a nervy week in the Indian sub-continent markets with all eyes on
Samsung Heavy Industries clinches floating production system order South Korean shipbuilder Samsung Heavy Industries (SHI) announced on 7 July that it has won an order for a semi-submersible floating production system (FPS) from a North America-based customer. SHI said the KRW337 billion (USD300 million) contract takes its year-to-date sales to KRW12.88 trillion.
MERS outbreak: Passenger arrivals in Pyeongtaek plunge in June Passenger arrivals in the South Korean port of Pyeongtaek fell rapidly in the aftermath of the Middle East Respiratory Syndrome (MERS) outbreak. Pyeongtaek, being the nearest South Korean port to China, had benefited from the growing number of Chinese going on cruise holidays. However, the
Tokyo's cargo traffic down in March Tokyo port's cargo traffic declined 3.6% year on year (y/y) in March to 7.355 million tonnes because of a sharp drop in imports from foreign countries, according to preliminary figures released by the Tokyo metropolitan government on 6 July. Of the 7.355 million tonnes, 3.896 million tonnes came
PMA, ILWU trade blame for Oakland delays Port of OaklandSkilled longshoremen are not showing up for work in the numbers they should be at the Port of Oakland, contributing to vessel backlogs and longer truck turn times, president of the Pacific Maritime Association said. "It's compounding the problem, that's for sure," Jim McKenna said in an interview. On...
McLeod integrates Logistical Labs' pricing platform McLeod Software, a leading provider of transportation and logistics solutions; and Logistical Labs, a cloud-based supply chain software provider, today announced a partnership to integrate Logistical Labs' pricing platform, LoadDex, with McLeod's freight brokerage operations management system, PowerBrokerTM. The integration allows PowerBroker users to access LoadDex via the Quick Quote...
Higher pricing costs J.B. Hunt intermodal market share, analyst says When J.B. Hunt reports lower second-quarter intermodal volumes next month the culprits will be U.S. West Coast port congestion and the intermodal marketing company's own decision to sacrifice market share for higher rates, according to a BB&T Capital Markets report. Analyst Thomas Albrecht said he anticipates the intermodal marketing company to...
Evergreen named Best Global Shipping Line JERSEY CITY, NJ -- Evergreen Line has been awarded "Best Global Shipping Line" by Asia Cargo News at the 2015 Asian Freight Logistics and Supply Chain Awards. The accolade was conferred at a ceremony in Hong Kong last week and was accepted on behalf of the carrier by Derek Lo, Executive Vice...
Record NY-NJ imports show West Coast diversions sticking The Port of New York and New Jersey handled record import container volume in May, the latest sign that diversion from West Coast ports is lingering months after their congestion cleared. Loaded imports at the East Coast's largest port rose 13.4 percent year-over-year to 282,030 twenty-foot-equivalent units, driven by a strengthening...
Port of New Orleans receives Green Port certification NEW ORLEANS - Green Marine, a North American environmental certification program for the marine, port and terminal industry, officially recognized the Port of New Orleans recently as a certified Green Port. The Port of New Orleans is the eighth U.S. port to reach certification in the voluntary environmental certification program, which was...
HHLA forecasts modest dip in container volumes for 2015 HHLA Terminal, Port of HamburgLONDON - HHLA, Hamburg's largest container stevedore, forecast a "moderate" decline in traffic in 2015 but stuck to its earnings forecast thanks to increased intermodal volumes. HHLA's first quarter traffic shrank 6.2 percent from a year ago to 1.75 million 20-foot-equivalent units, largely due to a 40...
Evergreen looks to further harness intra-Asia trade growth with 10-vessel order Evergreen Line has confirmed an order for 10 ships each with capacities of 2,800 twenty-foot equivalent units, a move aimed at capturing a larger share of the profitable and growing intra-Asia trade market. The order for ships was placed with and split evenly between Taiwan's China Shipbuilding Corporation and Japan's Imabari...
APL decision to skip Oakland calls slams importer APL announced Monday that its PA2 service from North Asia will skip calls to the Port of Oakland through the end of July because of the port's congestion problems. APL said it would resume Oakland calls when it observes improvement. The PA2 loop, which will continue to call at the Port...
Brazilian exporters of fresh beef gain access to US market Brazilian fresh beef exporters will begin shipping to the United States for the first time in 15 years in September, paving the way for forecasted volume of up to 9,000 twenty-foot-equivalent units annually. The first round of shipments of 15,000 tons, worth around $75 million, comes after the U.S Department of...
Largest container ships on order to rise 13 percent by 2020 MSC Oscar, the largest container ship currently in service.The largest container vessels on order have more than sextupled since 1975 and is set to expand by at least 13 percent by 2020, according to an IHS Maritime & Trade analysis of the order book. The rapid rise in ship sizes reflects...
CMA CGM gets EU approval for short-sea liner acquisition LONDON - European Union competition regulators approved French carrier CMA CGM's acquisition of OPDR, the German short-sea shipping line. The EU didn't attach any conditions to its approval of the deal, according to CMA CGM which officially integrated OPDR into the Marseille-based group on July 1. CMA CGM acquired OPDR from the...
Narrowing focus, Maersk sells offshore unit LONDON - Maersk has sold its majority-owned offshore support company Esvagt to private equity investors in the latest disposal of non-core operations as it focuses on container shipping and terminals and oil and gas exploration and drilling. AMP Capital of Australia and UK-based 3i Infrastructure are paying 4.1 billion Danish crowns...
Container growth at Indian major public ports slows Nhava Sheva Port. Credit: AsandsContainer volumes via major public ports in India dipped about 1.5 percent in June year-over-year as a slump in the country's global trade continued, according to the latest port statistics compiled by JOC.com. India's 12 federal government-owned major ports cumulatively moved 658,000 20-foot-equivalent units during the month,...
Japanese container trade outlook worsens Port of YokohamaA Tokyo-based research firm has downgraded its outlook for the Japanese container trade in fiscal 2015, which started on April 1, citing a significantly slower pace of growth in imports than previously anticipated. Nittsu Research Institute and Consulting Inc. predicted that in fiscal 2015, Japan's containerized cargo trade would...
Hong Kong warned container volume could halve in next decade HONG KONG - Hong Kong's container throughput could halve in the next decade as a host of factors begin to stack up against the port that has seen a steady decline in volumes over the past year.This stark prediction was made by Deutsche Bank in a detailed study that said...
Carriers' profits to collapse in 'toxic' morass of own making, Drewry says LONDON - A "toxic" mixture of overcapacity, weak demand and aggressive pricing is threatening ocean carriers' profitability for the rest of 2015, according to Drewry Maritime Research. The industry "will be lucky to break even this year" the London-based consultancy said as it tore up its earlier forecast of a collective...
G6 makes four new peak-season sailing cuts HONG KONG - The G6 Alliance will cancel another four Asia-Europe sailings in July and August in the latest indication that carriers do not expect much of a peak season this year.In a note to the trade, the G6 said it would void four Asia-Europe sailings in response to changes...
Container line industry seen as stuck in bad news cycle HONG KONG - The container shipping industry is trapped in a bad news cycle to rival anything the market is serving up with two separate studies heaping additional gloom on the troubled transport sector.In the Port Tracker report by Hackett Associates, the analyst warned container lines to prepare for a...
Evolving transshipment threat to Hong Kong future, report says HONG KONG - Hong Kong's container throughput could halve in the next decade as a host of factors begin to stack up against the port that has seen a steady decline in volumes over the past year.This stark prediction was made by Deutsche Bank in a detailed study that said...
G6 makes four new peak season sailing cuts HONG KONG - The G6 Alliance will cancel another four Asia-Europe sailings in July and August in the latest indication that carriers do not expect much of a peak season this year.In a note to the trade, the G6 said it would void four Asia-Europe sailings in response to changes...
Troubled container lines heading for a bad year, study shows HONG KONG - The container shipping industry is trapped in a bad news cycle to rival anything the market is serving up with two separate studies heaping additional gloom on the troubled transport sector.In the Port Tracker report by Hackett Associates, the analyst warned container lines to prepare for a...
Vogel lands at Eagle Eagle Bulk Shipping has hired Gary Vogel as its chief executive.
AMSC hires new CFO American Shipping Company (AMSC) has tapped the investment director at financial firm Converto Capital to take its chief financial officer role.
Greeks lead cape scrap effort Greek owners led the capesize demolition charge in the first half of this year, scrapping more ships from the sector than anyone else.
OPDR deal done France's CMA CGM has had its takeover of German line OPDR approved by European regulators.
Carnival wins Cuba nod Carnival has received approval from the US government to begin taking passengers to Cuba.
Scrap dominance Owners from Greece and China lead the way in dry tonnage demolition in 2015.
Ferry bad news? Russia's government has approved plans to build a bridge from its mainland to the annexed territory of Crimea.
G6 voids routes Hapag-Lloyd and other lines follow O3 in reducing Asia-Europe capacity.
Bumi bags $755m Malaysian owner Bumi Armada has clinched loans worth $755m to refinance its Armada Kraken FPSO.
Farstad in $73m charters Farstad Shipping has agreed multiple contracts worth NOK 600m ($73.16m) which will see some of its laid-up vessels back in business.
Take your time State energy company Gail (India) is to allow overseas shipyards five years to build LNG carriers in India.
Bulker crew unpaid Twenty-one seafarers on a bulk carrier hired by Rio Tinto have not been paid since April, the International Transport Workers' Federation (ITF) says.
Oaktree taking $511m Torm slice Oaktree Capital will net shares worth over $500m in Torm when it completes a takeover of the company this month.
Crewman's body found Fishermen have found the body of a crewman who fell from an NCL cruiseship last week.
Boxships face "toxic" market A "toxic mixture" of overcapacity, weak demand and aggressive pricing threatens to wipe out container shipping profits this year.
Cosco baffled by drop China Cosco Holdings Co (CCHC) has said it knows of no reason why its share price has taken a hammering in the last three trading days.
Triyards wins double order Triyards has won an order for a duo of large liftboats which ensures the yard will be busy until the 2017 financial year.
HHLA lowers sights German ports group Hamburger Hafen und Logistik (HHLA) is expecting lower profit and volumes from its container terminal operations this year.
Maersk sells Esvagt for $610m AP Moller-Maersk has sold safety and support vessel owner Esvagt to two private equity funds in a $610m deal.
Ezion buys into ROS Singapore shipowner Ezion Holdings has snapped up a 30% stake in domestic oil and gas engineering group Rotating Offshore Solutions (ROS).
USSC wins cheaper finance Tanker owner US Shipping Corp (USSC) has extended its debt at a lower interest rate.
AMSC secures $500m loans Oslo-listed American Shipping Company (AMSC) has refinanced its debt with new loans worth $500m.
APL tops reliability poll Study says NOL's liner arm had a global on-time performance of 85.5% in May 2015.
Bunker Holding buys LQM Bunker Holding Group, part of Denmark's United Shipping & Trading Company, has acquired US rival LQM Petroleum Services.
Lauritzen capes cut loose Lauritzen Bulkers has seen the charter parties on its two remaining capesize bulkers cancelled, the company has confirmed.
Rolls-Royce cuts estimates Rolls-Royce has announced a cut in full year profit forecasts for its marine division due to the downturn in the offshore sector.
Skuld in Durban warning Skuld has urged owners to be wary of port safety issues at the South African port of Durban in the wake of two groundings late last year.
LR grants AIP for gas turbine-powered LNG carrier Vessel saves shipowners 'an estimated $17.83 million over a 20-year period'.
Innovative approach to vessel movement Reduces hull resistance and fuel consumption.
Collaborative approach key in Gibraltar's bunker market controls No supplier has yet been stripped of bunkering licenses as GPA has procedures to nip problems in the bud.
Singapore IFO prices tumble for second running Bunkerworld average for Singapore 380 cSt material has lost over 8% of its value since Wednesday last week.
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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