Under-threat MyFerryLink hit by internal split Struggling cross-Channel ferry operator MyFerryLink is now threatened by a split between the management and the supervisory board of the company that crews and operates its vessels. My FerryLink already faces being banned from the Port of Dover by the UK competition watchdog. The two-man
Container freight rates low but stable in February Container freight rates remained stable in February, but below those for most of the past two years, according to figures released today by Container Trade Statistics (CTS), the UK-based consultancy. Its freight index, which includes both spot and contract rates, remained steady at 81 for the
Ships evacuated after chemical plant blast in southeast China Vessels berthing at Gulei Port in Zhangzhou, in southeast China's Fujian province, were evacuated after an explosion at a local chemical plant on 6 April. Oil leaking from a unit producing paraxylene caught fire and led to blasts at three nearby chemical oil tanks at Tenglong Aromatic Hydrocarbon
China MSA launches study on impact of mega-containers China Maritime Safety Administration (China MSA) has launched a study into the impact of the increasing size of container ships on the country's container industry, in a bid to boost its competitiveness. The first phase of the study would aim to identify the key technology, policies, and
Midsize boxship market 'approaching balance' The charter market for smaller container ships below 4,000 teu is almost back in balance after seven years of distress, according to Hamburg's Ernst Russ Shipbroker. Surplus capacity in the 1,000-3,000 teu size classes that dominate global chartering activity had basically disappeared, the broker
Bahri signs deal with S-Oil The National Shipping Company of Saudi Arabia (Bahri) said on 9 April that it has signed a contract with South Korean oil company S-Oil Corporation to ship crude oil to South Korea. The 10-year contract will see Bahri deploying very large crude carriers (VLCCs) to ship crude oil from the Gulf and
Dispute resolution eases US West Coast box backlog Import container volume at American ports is expected to increase eight percent year-on-year in April as West Coast box terminals work through vessel backlogs that had built up for months. "Progress is being made but there's still a lot of cargo waiting to be loaded on to trucks and trains and
Girl dies in Thai ferry fire A 12-year-old Israeli girl was found dead on 9 April when a ferry caught fire and sank as it was sailing from Krabi to Phuket, Thailand. The victim, Shani Maril, was in the bathroom at the time the fire broke out on ferry Ao Nang Princess 5 at 10:59 h local time on 8 April, said Krabi defence chief
UMW O&G extends JV agreement Malaysia-listed drilling and oilfield services provider UMW Oil & Gas Corporation (UMW O&G) has extended its joint venture (JV) agreement with Japan Drilling Corporation (JDC) for another five years to co-own a rig. UMW O&G stated in its filing to the Malaysian stock exchange Bursa Malaysia that
Over-tonnage suppresses dry bulk chartering Despite a healthy number of bulkers being fixed prior to the Easter holiday, rates are still depressed as oversupply of tonnage remains severe. Last week saw 92 bulkers being chartered prior to 3 April, almost on a par with the 86 ships being fixed the previous week. Rio Tinto alone fixed 10
Chinese imported iron ore prices continue to fall Prices of imported iron ore at 33 major Chinese ports continue to fall due to low spot prices and a wait-and-see attitude in the market, according to latest Xinhua-China Iron Ore Index report on 7 April. For the week ending 6 April, the price index for imported iron ore 62% Fe dropped five points
Broker puts 'hold' on Ezra share price Singapore-listed offshore services provider Ezra Holdings was given a "hold" status by brokerage firm UOBKayHian based on its weak earnings for the second quarter of 2015. The Singapore-based brokerage house has set a target price of SGD0.54 (USD0.40) per share for Ezra, while the company stock
Major Japanese ports report mixed cargo results Japan's five biggest ports - Port of Tokyo, Port of Yokohama, Port of Nagoya, Port of Osaka, and Port of Kobe - reported mixed cargo results in 2014. The volume of cargo handled by Port of Tokyo rose 1.3% year on year (y/y) in 2014 to 87.186 million tonnes, with 48.864 million tonnes in foreign
Surabaya terminal orders three Konecranes STS cranes Finnish crane manufacturer Konecranes said it has received orders for three ship-to-shore cranes from PT Pelabuhan Indonesia III (Persero) in Surabaya, Indonesia. The cranes will be delivered to PT Terminal Petikemas Surabaya (TPS) by the end of 2016. When the cranes are in operation, seven
Shipbroker predicts VLGC glut due to oil shock The oil shock has caused oil companies to cut back on exploration and production activities this year, and this could affect liquefied petroleum gas (LPG) output. LPG is a by-product of oil and natural gas production. Italian shipbroker Banchero Costa said, "The export capacity of the Middle
Pacific Basin plans to boost liquidity Hong Kong-listed Pacific Basin Shipping plans to raise USD125 million by issuing convertible bonds with an interest rate of 3.25% per year to bolster its liquidity. The convertible bonds will reach maturity in 2021 with a conversion price of HKD4.08 (USD0.52) per share, according to Pacific Basin's
Yang Ming may acquire another five 14,000 teu vessels CKYHE alliance will have 80 13,000 teu-14,500 teu ships if Taiwanese carrier's plan materialises
StealthGas sees persistent weakness in small-sized LPG tanker market Blessing in disguise is that more owners might be forced to demolish old tonnage as regulations tighten, says chief executive Harry Vafias
Late Chinese New Year boosts February box volumes Asia-Europe cargo volumes up 32.33% with healthy growth at a global level, according to Container Trades Statistics
'Non-dom' rules under Labour - an expert guide Shipping accountancy firm Moore Stephens offers an essential guide to the implications of change in policy on non-domicile tax rules in the UK
Plumbe ripe for other ventures as Braemar shakes up board Johnny Plumbe moves into independent consultancy as changes are made to shipbroker Braemar's board
UK shipping warns on Labour non-dom plan Ending tax break could devastate shipping services, say Penn and Barrow
Concordia Maritime expands product tanker fleet as groundswell of optimism builds New investments reflect improvements in product tanker freight market, with spot earnings staying in the $20,000s per day
US west coast ports show signs of recovery as imports rise Imports at major US ports expected to rise 8% in April, as west coast ports continue to work through cargo backlogs
Lidinsky steps up pressure on box line alliances FMC plans to consult counterparts in Europe and China on global carrier partnerships in second tripartite summit of maritime competition regulators
CMA CGM launches box tracking app Software, available in five languages, can be downloaded from the Apple App Store and Google Play
Stolt-Nielsen posts bittersweet profit rise Profit is up, but only due to lower costs rather than any improvement in the chemical tanker freight market, about which the company's boss struck a pessimistic tone
'Quite a dramatic change is coming' - Shell's Henderson talks LNG supply and demand Competition to supply global demand growth will be strong, the head of Shell Shipping tells Lloyd's List, as Shell embarks on mega deal with BG Group
Port of Virginia deploys more equipment to deal with seven-week-long backlog The Port of Virginia is rolling out even more equipment and continuing construction on a new cargo yard in an effort to relieve a now seven-week-long container backlog on the waterfront. Since a winter storm shut down the port for four consecutive days over the Presidents' Day weekend in February, the...
Port of Oakland preps projects in effort to gain first-call status The Port of Oakland is gearing itself up to steal Southern California ports' first-call status with a slew of new development projects meant to attract Asian imports. Most West Coast ports are well within range of millions of square feet of warehouse and distribution space, but all too often those hubs...
BNSF reports improved intermodal service BNSF Railway on Thursday trumpeted reports of significantly improved service and performance metrics since rail service hit new lows last year, thanks to a harsh winter and an unrelenting surge of freight. But a leading intermodal analyst warns that several weeks of improvement doesn't necessarily mean the railroad is completely out...
Daniel Kerrigan, former ACL president, dies at 90 Daniel J. KerriganDaniel J. Kerrigan, former president of Atlantic Container Lines Ltd., died at his home in South Carolina with his family on April 6. He was 90. Mr. Kerrigan joined Atlantic Container Lines - USA Ltd. in 1971 as vice president of sales and marketing. After promotion to executive vice...
US regulators shut down fifth trucking operator since February Federal regulators ordered a South Carolina trucker off the road last week following a series of inspections that revealed he failed to make truck repairs and violated regulations. Mortise Trucking, owned and operated by Carnell Pompey, is the fifth trucking operation shut down by the Federal Motor Carrier Safety Administration since...
From hacking to dirty money, it's a minefield out there One thing's for sure if you've been involved with international trade in recent times: Things are getting ever more complicated and risk management and compliance challenges are consistently getting harder to anticipate and manage. At the JOC's TPM Conference in early March, we discussed the cybersecurity challenges facing the trading...
California green port, truck, rail programs lauded in reducing emissions The clean-trucks portion of the CAAP slashed diesel emissions from harbor trucks by more than 90 percent. Credit: Port of Long BeachGreen programs implemented by the port, trucking and rail industries in California have contributed mightily to harmful emissions reductions in the state over the past 20 years, according to...
NY-NJ truckers wait in miles-long lines at port Container terminals at the Port of New York and New Jersey are fighting a seemingly unending battle with congestion that has accompanied record import volume and is producing costly delays for truckers and cargo owners. Backups outside GCT Bayonne on Thursday were so severe that the New Jersey Turnpike used its...
Containers pile up, ships divert in wake of fire at Santos The fire that engulfed the Ultracargo terminal in Alemoa, Santos, Brazil, is finally under control - but not extinguished. Shippers, however, continue to face problems as containers pile up at several container terminals on the right bank of the port of Santos, Brazil's biggest container port. Codesp, the Santos port authority,...
Ship lines pull away from Yemen as risks of attacks grow With most Yemeni ports now under rebel control, or at least embroiled in violent conflict, shipping lines are pulling away from the country that's devolved into chaos in past weeks. Ports in Yemen have been under increasing attack from Saudi and Arab ally states as the Western-backed coalition attempts to regain...
Increased bond won't break brokers Q: Would you give me your reaction to the Federal Motor Carrier Safety Administration's recent decision not to waive the $75,000 bond requirement for motor carrier brokers? This requirement, included in the MAP-21 legislation, enacted by Congress in 2012, has always been unfair and inequitable. Because of the lobbying of larger...
Evergreen, Simatech to launch weekly India-Mideast service Evergreen Line and Simatech Shipping have reached a vessel-sharing agreement to jointly operate a new container service connecting the Indian subcontinent and the Middle East, starting in early May. The weekly loop, branded the Chennai-Colombo-Gulf Service, or CCG, will employ four vessels of around 2,000 20-foot-equivalent units capacity, with three of...
Online innovation raises competition level, Kuehne + Nagel head says HONG KONG - Advances in digital technology are enhancing the way freight forwarding and logistics business is conducted, but the improving online processes are creating competition from outside the industry as well as from within it, Kuehne + Nagel Chairman Karl Gernandt says. "There is an initiative in Silicon Valley that...
China port builder buys Aussie contractor to support global infrastructure drive HONG KONG - China's largest port builder has been given the green light to acquire one of Australia's largest construction companies as Beijing moves to grow its international infrastructure capability in support of its "one belt one road" trade initiative.China Communications Construction International (CCCI), a wholly owned subsidiary of China...
Strong first quarter export demand keeps volumes up at China's top ports HONG KONG - The foreign trade segment of China's container throughput continued to grow in March, resulting in a solid first quarter during which the country's top seven coastal ports saw total volumes rising by 7.4 percent year-over-year to 28.54 million 20-foot containers.More than 80 percent of the volumes handled...
Angelicoussis buys three Scorpio capes John Angelicoussis has swept up three capesize newbuildings from Scorpio Bulkers in a deal worth $132m.
Bigger and stronger Peter Georgiopoulos's move to pull Baltic Trading and Genco together has won a round of applause from analysts.
Greece mourns Elias Tsakos Entrust Maritime principal has died after several months of ill health.
Rickmers invests to save Hamburg owner to spend $50m in improving energy efficiency of its fleet.
Diana takes a pay cut Another big reduction in time charter rates has been agreed between Diana Shipping and Glencore Grain.
Retiring at the top Retiring shipbroking heavyweight Johnny Plumbe is making his exit on a high, says Braemar chief executive James Kidwell.
Ice disrupts Great Lakes Spring has sprung but ice is still disrupting shipping on the Great Lakes.
Bumper result for Bahri A strong first quarter result has been reported by the National Shipping Company of Saudi Arabia (Bahri) as the benefits of the 2012 merger with Vela flows through to the bottom line.
Bahri agrees 10 year COA A decade long contract of affreightment to carry Persian Gulf crude to S-Oil Corp's refineries in South Korea has been signed by the National Shipping Company of Saudi Arabia (Bahri).
Stolt starts 2015 strongly Stolt Nielsen has seen first quarter net income come in at more than double that seen a year ago, figures released Thursday show.
All change at Braemar Braemar Shipping Services has announced a raft of changes to its board of directors Thursday which will see some major departures.
FSL buys back stock First Ship Lease Trust (FSL Trust) has bought back some of its own stock as it looks to boost investor returns.
Hapag quits Portland Portland has lost its second container shipping company this year following Hapag-Lloyd's decision to quit the port.
Baltic gets political The Baltic Exchange has criticised a proposal by the UK's Labour party to scrap non-domiciled status.
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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