MH370: Maldives and Diego Garcia in the spotlight The discovery of unidentified debris in the Maldives at the weekend has revived interest in reports - quickly discounted at the time - of an aircraft flying low over Kudhuvadhoo in the 1,100-island Indian Ocean archipelago on 8 March 2014, the day Malaysia Airlines flight MH370 disappeared. The
Keppel wins multiple contracts worth over $90m Singapore-based Keppel Offshore & Marine (Keppel O&M) has clinched a Floating Production Storage and Offloading (FPSO) conversion project as well as three repair, upgrade, and modification contracts worth a total of SGD125 million (USD90.3 million). The conversion project is scheduled to be
Late silting could hit US dredging budget Increased dredging required by new draught restrictions on the Mississippi River could mean shortfalls next year in revenue for maintaining channels, a maritime executive warns. On 7 August Louisiana Bar Pilots placed a 13.7 m (45 ft) draught restriction on the Southwest Pass, the 35-km section of
Helsinki passenger port sees record numbers Five per cent growth year on year (y/y) saw a record 1.45 million people pass through Port of Helsinki's passenger terminals in the peak month of July. Fittingly 1.1 million of those travelled on the Helsinki-Tallinn (Hel-Tan) route, which celebrated the 50th anniversary of its re-introduction on
DSME to sell non-core affiliates Daewoo Shipbuilding & Marine Engineering (DSME) is to dispose of affiliates that are not related to shipbuilding and offshore plant construction. The shipbuilder also plans to sell its headquarters in Seoul, South Korea. DSME's CEO Jung Sung-Leep announced the restructuring at a meeting on 10
Hijacked tanker found off Malaysia A missing Singapore-flagged vessel has been found off Malaysia with all nine crew members accounted for after reportedly being hijacked. The 3,465 dwt tanker Joaquim had been found about 13.7 n miles off Tanjung Keling, Malaysia, in 9 August 2015 with its oil cargo missing, according to a press
Crane giants confirm merger plans Finland's Konecranes and US heavy equipment maker Terex have announced they will merge by the first half of 2016. Described as "an all-stock merger of equals" the new company, Konecranes Terex (KT), will have a significant role to play in the port handling equipment solutions sector. The new
Vale scraps Capesize amid sluggish ship recycling market Brazilian miner Vale has sold one of its Capesize bulkers for demolition into Pakistan, lifting expectations in the gloomy market. Scrap prices, especially those of bulkers, plummeted as the Baltic Dry Index's plunge to a historic low in February, resulting in a rush by owners to scrap unprofitable
Scomi Energy wins contracts worth over $35.6m Malaysia-listed logistic company Scomi Energy Services has clinched contracts worth more than MYR140 million (USD35.6 million) in the April-July period through its marine services business segment. The contracts were mainly for transporting coal and providing offshore vessel services to customers
China's coal imports down 33.8% y/y China's coal imports fell 33.8% year on year (y/y) to 121.1 million tonnes in the first seven months of 2015, with its import value down 47% y/y to USD7.7 billion. Coal imports dropped 8.8% y/y in July to 21.3 million tonnes, but jumped 28.1% y/y compared with June, according to Chinese Customs'
Evergreen orders 10 box ships at CSBC Taiwanese carrier Evergreen on 10 August signed a deal with China Shipbuilding Corporation (CSBC) to build 10 2,800 teu container ships. The first ship will be delivered in the second half of 2017, and the whole series will be completed by the first half of 2018. The vessels will be deployed in the
Mencast suffers 79% y/y profit decline Singapore-listed offshore services provider Mencast Holdings posted a net profit of SGD1.26 (USD0.9 million) for the second quarter of 2015 ended 30 June 2015, down 79% year on year (y/y). The company's second-quarter revenue also tumbled 39% to SGD26.86 million from SGD43.9 million in the same
MUA ordered to stop action at Hutchison Mass redundancies have caused outrage but employees and the Maritime Union of Australia have been ordered to cease picketing
Ocean Yield: The tanker industry's risk dodger Business model avoids direct exposure to the market by leasing out vessels long-term to other shipowners
Eskola to take helm at Wärtsilä Head of marine division to take role as CEO in November following departure of Rosengren
Holiday season boosts US box imports August volumes anticipated to grow 3.6% as retailers rush to stock shelves
Suezmax and aframax spot rates dip to three-month low Chartering inquiry slows as August loading programme is covered
PVI warns over threat to small tankers in Southeast Asia This year could produce a record number of hijackings for cargo theft, security group warns
Pioneer Marine reports $6.5 net loss for second quarter Financing on all 12 newbuildings completed during the quarter following $25m private placement
Adani reports strong quarter Indian operator's after-tax profits show double-digit growth on the back of healthy cargo traffic
Imtech seeks protection to restructure Despite improvements in marine division, group business seeks protection
Ocean Rig seeks third drillship delivery postponement Talks with Samsung yard aim at deferring more capital costs during offshore slump
Epic Gas net loss widens in second quarter Pressurised LPG tanker operator hit by higher financing costs
Infor aims to integrate factories, supply chain via GT Nexux purchase Infor's announcement that it would acquire GT Nexus for $675 million is the latest sign of how consolidation in the logistics cloud-based software industry is paralleling similar activity in the global third-party logistics market. The deal, expected to close within 45 days, pending regulatory review, will allow Infor to connect its...
Bluff welcomes new vice president of operations FORT WORTH, TX. AUGUST 2015. Bluff Manufacturing, an innovative leader in the fabrication and design of high quality material handling, dock and warehouse equipment, storage structures, and safety barriers, is proud to welcome Lane Moss as their new Vice President of Operations. Moss holds a Bachelor of Science degree in Manufacturing...
Greatway Transportation Co., Ltd. in Russia joins XLProjects GTC specializes in the transportation of bulk/containerized cargo/trading/customs clearance from mainland China to Russia. With a strong commitment to professionalism and customer service, GTC strives to offer optimal logistical solutions catered for your needs, great and small. Bulk service GTC manages the transportation of bulk services between China, Far East, Russia...
FedEx launches "One-Stop" cold chain solutions in China HONG KONG, August 11, 2015 - FedEx Express, the world's largest express transportation company, has launched "one-stop" cold chain solutions in mainland China. Outbound FedEx International Priority® (IP) Service and domestic Priority Delivery Service in China now offer two packaging solutions - Gel-pack Temperature-Controlled Package and FedEx® Cold Shipping Package. With...
New LCL service through Canada billed as free of US harbor taxes Customs broker A.N. Deringer is billing its new less-than-containerload service from Hong Kong to Toronto as faster than via U.S. West Coast offerings, and free of U.S. harbor maintenance taxes and customs paperwork. The 23-day port-to-port service through Vancouver, British Columbia, and with distribution points throughout Ontario, New York, Michigan, Pennsylvania,...
NY-NJ port pursues 'peel-off' container pickup Loading trucks at the Port Newark Container Terminal.New York-New Jersey truckers and APM Terminals are exploring a pilot program that would allow drayage drivers to make expedited pickups of containers that have been pre-sorted in blocks for a single customer. The "peel-off" program would be a variation of one introduced earlier...
Asia-Europe shippers to gain better rail bridge visibility Shippers wanting to better track their containers railed from Europe to Asia have a new option, reflecting not only the rush of interest in the rapidly growing trade lane but also the persistent threats of theft - often from customs inspectors. A subsidiary of major container manufacturer China International Marine Container...
New Bronka port, CMA CGM services to boost Russian Baltic Sea volume Russia plans to increase container volume through the Baltic Sea via the opening of a Bronka seaport and CMA CGM weekly services set to begin calling the port in September. Dmitry Mihalchenko, general director of Phoenix, the company behind Bronka, said the first phase of the port is 90 percent ready...
Worker unrest threatens Panama Canal expansion timeline The $5.25 billion Panama Canal expansion project may face a fresh setback if construction workers building the third set of locks follow through with their threat to strike. Suntracs, the largest union representing 6,000 workers on the project, has said it plans to declare a strike as early as Wednesday to...
Heathrow cargo falls in July, urges expansion Cargo at Heathrow Airport.LONDON - London Heathrow's cargo traffic decreased by 5.4 percent in July from a year ago but the airport urged the government to approve an expansion of the airport to keep pace with growing trade with emerging markets. Europe's fourth-largest air freight hub handled 121,240 tonnes (133,644 tons)...
Amazon to open Chicago-area fulfillment center Amazon.com will open an e-commerce fulfillment center in Joliet, Illinois., the online retailer's first fulfillment center in that state. The 500,000-square-foot Joliet location, southwest of Chicago on Interstates 80 and 55, will process books, electronics and consumer goods. The Chicago-area fulfillment center should be up and running before the holiday season,...
Hub president resignation adds to company turbulence Hub Group's President and Chief Operating Officer Mark Yeager has resigned from his post, a move one analyst called a "surprising and abrupt" departure from the Chicago area-based intermodal rail provider. Yeager's resignation may yet add another element of instability to the firm, whose intermodal business has struggled over the past...
Jawaharlal Nehru shippers plead for government to stop strike In a sign Jawaharlal Nehru Port Trust users are running out of patience with congestion spurred by the shutdown of APM Terminals-operated Gateway Terminals India, which halted operations August 4 following labor troubles, ship agents representing ocean carriers in JNPT have called on federal government agencies to urgently step in...
Nippon buys out Chinese joint venture to gain hinterland access Nippon Express Co., Japan's largest international freight forwarder, said that it has bought the remaining 5 percent of Nippon Express (China) still held by a Chinese partner to speed up the decision-making process. Those decisions center on adjusting to China's rapidly changing logistics business environment, wherein manufacturers are shifting their...
All-around growth lifts Allcargo Logistics profit Allcargo Logistics Ltd., India's leading international freight forwarder and logistics provider, posted a big jump in net earnings driven by strong gains across multiple segments, especially cargo consolidation, in the first fiscal quarter. The company saw its consolidated net profit soar 53 percent in the April-June period from $7.8 million a...
Wild first-half ride for major east-west trades Headhaul demand on the trans-Pacific trade grew at a solid 5.6 percent in the first half.HONG KONG - Container volumes on both the trans-Pacific and Asia-Europe trades in the first half of the year were buffeted by wild swings from month to month, according to data on the east-west shipping...
UPS boosts London Gateway's logistics hub aspirations London GatewayLONDON - UPS plans to build a parcel distribution center adjoining London Gateway in a major boost to the container port's bid to become one of Europe's biggest logistics hubs. The U.S. delivery company has sought planning permission for an 180,000 square foot warehouse and offices and vehicle servicing facilities,...
Mega-ship stay in LA-LB above industry average, data shows The 19,100-TEU CSCL Pacific Ocean.HONG KONG - Container ships greater than 10,000 twenty-foot-equivalent units calling at the ports of Los Angeles and Long Beach in July experienced significantly longer berth stays than the overall vessel average, with Long Beach also recording greater mega-ship arrival delays than the industry average, CargoSmart...
Wild first half ride for major east-west trades, data shows Headhaul demand on the trans-Pacific trade grew at a solid 5.6 percent in the first half.HONG KONG - Container volumes on both the trans-Pacific and Asia-Europe trades in the first half of the year were buffeted by wild swings from month to month, according to data on the east-west shipping...
Mumbai port dispute highlights India's transport shortcomings Trucks line up outside Mumbai's JNPT port complex.HONG KONG - The labor dispute that has shut down Gateway Terminals India at the Jawaharlal Nehru Port Trust port complex in Mumbai has again focused negative attention on a country that has long been plagued by a lack of investment in its...
US Southeast ports expand inland reach Ports in the U.S. Southeast - the country's fastest growing - are aggressively spreading their intermodal rail reach into the hinterland, giving shippers facing higher truck rates and capacity shortages an added incentive. That, coupled with planned development of new facilities divided by just a few hundred miles and a state...
Niels W Johnsen dies Niels W Johnsen, who co-founded the company that would become International Shipholding (ISH), has died at 93.
Canal strike looms A Panama Canal Authority (ACP) executive warned of potential delays as workers building the waterway's expansion are threatening to strike as early as tomorrow.
VLCCs at nine-month low VLCC earnings fell to the lowest level since late October as rates declined across the crude tanker spectrum Tuesday.
TNG profit cut back Tankerska Next Generation (TNG) has posted a fall in second quarter profit compared to the first three months.
Capesizes take a breather Capesize rates fell away today as the market overheated after a sharp spike last week.
Iran boosts OPEC output OPEC countries produced the most crude for three years in July as Iranian volumes grew after sanctions were ended.
Seamec fixes veteran Mumbai-listed support vessel owner charters out ship for short-term job west of Mumbai.
Speed through Suez If you have ever wanted to blast through the Suez Canal at over 50kmph then now is your chance.
Tehran tie-up Azerbaijan Caspian Shipping Company (ACSC) is considering building vessels in cooperation with Iran.
Keppel clinches conversion Singapore's Keppel Shipyard has won contracts worth $125m including an FPSO conversion for a Bumi Armada joint venture (JV).
Beijing plans Temasek inspired overhaul of shipowners Cosco Corporation (Singapore) is the latest company to place its shares on ice amid growing expectation of a merger between parent Cosco and China Shipping via the creation of a Temasek-like investment company.
Noble calls in big gun Noble Group continues to capture headlines despite an effort to reassure investors at it reported its half-year results with reports it has hired former-Citigroup banker Michael Klein to review operations.
NLNG faces protest A protest is being planned against Nigeria LNG's (NLNG) lack of clarity over where it will build a new $1.5bn shipyard.
Vroon goes long Dutch owner Vroon has claimed a wind industry first with a 15-year charter for one of its support ships.
DSME eyes Mangalia cuts A downsizing of its Romanian shipyard and the disposal of Chinese assets are the latest options to emerge in the reorganisation of DSME.
ADSB returns to profit Abu Dhabi Shipbuilding (ADSB) has made it back into black in the second quarter as revenue boomed.
Eskola steps up Wartsila's Marine Solutions chief Jaakko Eskola is to become group CEO to replace Bjorn Rosengren.
Cosco expectations growing Cosco Corporation (Singapore) is the latest company to place its shares on ice amid growing expectation of a merger between parent Cosco and China Shipping.
US patrol vessel arrested An Oman marine services company has secured the arrest of a US-owned patrol vessel over unpaid dues for supplies and services provided to the ship.
Pioneer loss bigger again Khanna-led bulker owner hit by falling revenue in Q2 but concludes financing for 12-ship orderbook.
NCL selloff starts Leading shareholders in Norwegian Cruise Line have begun the sale of shares worth over $1.2bn in the shipowner.
GE sells newbuilding India's Great Eastern Shipping (GE) has cut its orderbook by selling a kamsarmax bulker due soon from the Philippines.
Epic bucks bad market Singapore-based Epic Gas pulled off a credible second quarter performance despite rates in the pressurized LPG sector continuing to slide.
Mississippi silting Increased silt levels in the Mississippi River have led to recommendations that the maximum draft for vessels using the Southwest Pass be reduced from 47 to 45 feet.
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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