New forwarding giant formed Danish freight forwarding group DSV plans to push further up into the top league of global cargo agents with the signing of an agreement today to take over US-based logistics group UTi Worldwide. In the seafreight/container segment, the combined group will control aboit 1.4 million TEU of cargo,
Hsu Chih-chien exits Courage Marine Taiwanese shipping veteran Hsu Chih-chien has sold his shares in Singapore-listed Courage Marine, ending his association with the company he founded. Courage Marine, founded in 2001 at the start of the last shipping boom has been struggling in the last two years, posting losses from 2013-2014. Hsu
Swire expands its Asia Pacific shipping service to Hobart Swire Shipping today (9 October) announced it would expand its Australian service to Hobart, Tasmania. The new service provides both domestic shipments out of Tasmania to Melbourne, Sydney, and Brisbane as well as a connecting Hobart to global trade in the Asia Pacific and the United States via
Maersk updates on new Boomerang service Shipping giant Maersk has made more information available about its new Boomerang service to Australia. The service started as Thailand dealt with a slew of reports showing stubborn weakness in its exports - something Maersk politely refuted without detailing. "Referring to the above we have seen
China's LPG imports may exceed 8 million tonnes in 2015 As China consumes more LPG to feed its propane dehydrogenation plants, LPG imports could set a new record this year. Grieg Shipbrokers noted that China's average monthly LPG imports have gone up from 347,000 tonnes in 2013 to 682,000 tonnes this year. In 2014, China imported 7 million tonnes of
Port of Gothenburg freezes tariffs for 2016 In a boost to shipping companies and their customers, the largest port in the Nordics has announced that port charges for 2016 will be the same as this year's. The significance of this is borne out by some statistics: 30% of all Swedish foreign trade passes through the port including 60% of all box
DSME calls off plan for shipyard in China South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering, which has been struggling with massive losses, has called off plans to build a shipyard in Dandong, China. In 2012, DSME signed a Memorandum of Agreement with Rilin, a port development company based in Shenyang province, China. Both
Busan Port gets USD242 million development Budget for 2016 More money has been allocated to develop Busan port in 2016 Busan Regional Oceans & Fisheries Administration has announced. A KRW278 billion (USD242 million) budget has been set aside to finance the ongoing development of Busan New Port and the redevelopment of Busan North Port. The funds will come
Royal Malaysian Navy establishes special squad to combat piracy The Royal Malaysian Navy has set up a special squad code-named the "Quick Reaction Force" (QRF) to combat piracy. The 14-man squad comprises two teams, namely the sharpshooters and a strike force, based in Tanjung Pengelih in the state of Johor, Malaysia. "For the time being, the teams are
Daya's subsidiary wins USD19.9 million subcontract from Axima Malaysia-listed oil and gas company Daya Materials' (Daya's) subsidiary Daya OCI has secured a EUR17.7 million (USD19.9 million) subcontract from France-based Axima Concept (Axima). Under the subcontract, equipment supplier Daya OCI will provide marine heating, ventilation, and air-conditioning
Oriental Energy inks charter contract for eight VLGCs Shenzhen-listed Chinese liquefied petroleum gas (LPG) trader Oriental Energy has signed a charter agreement with its controlling shareholder Oriental Petroleum (Yangtze). Under the agreement, Oriental Energy will charter eight 50,000 dwt VLGCs for 10 years upon their delivery, scheduled from
CMES projects January-September 2015 profits to quadruple Shanghai-listed China Merchants Energy Shipping (CMES) projects its January-September 2015 profit to surge 400-430% from a year ago. The expected increase in profit is driven by the company's projected earnings from the bullish tanker market, as well as revenue contribution from its joint venture,
NTSB provides update on accident investigation of El Faro NTSB will be the only agency providing information related to the accident investigation of El Faro
China LNG imports down 4%, but hopes remain for long-term demand Fall should give way to rising demand over next 10-15 years, says Banchero Costa research chief
The curious co-dependency of the Vietnamese yard and the Italian owner Influx of new orders from ambitious d'Amico Tankers will help boost prospects of struggling Vietnamese state-owned shipbuilding firm
Hanjin pulls out of New Zealand service Line is latest victim of regional overcapacity
Vroon to lay up 12 ships and scrap old emergency response vessels Five PSVs mothballed as 11 newbuilds are due for delivery over two years
Swire Shipping to widen Tasmanian service coverage Added coverage will link Tasmania to Asia, Europe, the Pacific Islands and the US via transhipment services
Damen Shiprepair buys compatriot yard Wetering functions shifted to Damen Shiprepair Van Brink in Pernis
Oriental Energy charters eight very large gas carriers for 10 years Expanding Chinese gas player takes ships on an annual rate of just $9.6m apiece
US Maritime Security Programme unlikely beneficiary of push to repeal US oil-export ban If legislative effort is successful, a fleet of 60 US-flagged vessels will receive higher annual subsidies for 2,400 US mariners
Major shareholders liquidate stakes in Courage Marine Success United Development to acquire 27.5% of dry bulk shipping company
Concordia Maritime expects strong product tanker rates in 2016-2017 But large global orderbook size still a concern, says chief executive Kim Ullman
MOL tests next-generation engine monitoring system Technology results from joint research between ClassNK and MES
Malaysian maritime authorities detain three tankers Two tankers held for alleged illegal bunkering and one tanker for docking without anchorage permission
Asciano to invest $72m in new Port Botany terminal Port and rail operator plans to move more freight from Port Botany onto railways
Trans-Pacific rates down as peak season falters Spot rates on containerized imports from Asia were flat to down this past week even though October is normally the peak month of the year in the eastbound Pacific. Hopes for a strong peak season are therefore fading fast. According to the Drewry and Shanghai Container Freight Index spot rates published...
House approves maritime subsidy increase in oil-export bill An increase in the annual subsidy for operation of U.S.-flag ships under the Maritime Security Program survived in a U.S. House-passed bill to end the United States' 40-year-old ban on oil exports, but the bill's chances of becoming law remain iffy. President Obama has threatened to veto the removal of the...
Port Tracker: Import peak season may be only a 'bump' Retailers project that U.S. containerized imports from Asia this month will rise only 3.3 percent year-over-year, a further sign that what normally is the busiest month of the annual peak season in the eastbound Pacific will be only a "bump" this year. The Global Port Tracker, published each month by the...
Brazil appoints new port minister, pushes on with $2.64B investment plan Efforts to merge Brazil's Special Ports Ministry (SEP) with the Ministry of Transport seem to have been put on hold, at least temporarily, with the appointment of Helder Barbalho as the ministry's new leader. Brazilian maritime interests are relieved the SEP is staying separate from the transport ministry because they will...
US food exporters push for port productivity transparency bill Nearly a year after labor stoppages at U.S. West Coast ports burned scores of perishables shippers, the industry's largest advocacy group refuses to relent in its push for greater transparency in how ports are operated and negotiations with unions are conducted. Last winter's contentious dispute between the International Longshore and Warehouse...
Kazakhstan Railways to build container terminal in Klaipeda port Klaipeda portKazakhstan Railways, the national railway company of Kazakhstan, will build a 1 million 20-foot-equivalent unit container terminal in Klaipeda, Lithuania, home to one of the largest Baltic seaports. The project will be officially commissioned in mid-2016 and is aimed at tapping growing containerized rail volume between Asia and Europe. Rail...
MOL's first-half earnings threatened by investment losses Japan's Mitsui O.S.K. Lines may incur a group net loss in the first half of fiscal 2015, which started in April, due to an extraordinary charge resulting from the collapse of Daiichi Chuo Kisen Kaisha, a mid-size domestic peer and equity-method affiliate. Daiichi Chuo Kisen Kaisha filed for bankruptcy protection on...
XPO to take a breather from acquisition race MEMPHIS - After a flurry of acquisitions the past four years, XPO Logistics, the fastest-growing company in trucking and logistics, is going to take a breather to integrate backroom services and take hundreds of millions of dollars of cost out of its operations. However, XPO has every intention of growing in...
South Korea's Incheon strives to become regional hub Port of IncheonThe Incheon Port Authority has doubled the size of the ships it can handle in the last decade and is working to handle even larger vessels as it continues to invest in an effort to lower costs for shippers and become a regional hub. IPA marked its 10th anniversary...
India OKs $220 million upgrade for Paradip Port The government of India this week approved an infrastructure upgrade project at the major public port of Paradip, allowing the country's second-largest general cargo handler to expand capacity and improve operational efficiency. The plan to mechanize three existing "east quay" cargo berths at the port complex, is estimated to cost Rs....
Turkey's Yildirim moves to sell 24 percent CMA CGM stake LONDON - CMA CGM today confirmed it is in talks with the Yildirim Group over the sale of the Turkish conglomerate's 24 percent stake in the French ocean carrier. "The Yildirim group has informed the CMA CGM shareholders of the wish to divest the bonds redeemable in shares it holds in...
Hanjin and HMM return to profitability, but will it last? South Korea's container shipping companies Hanjin Shipping and Hyundai Merchant Marine are leading the country's cautious financial recovery, but it's unclear if the good times will last. The duo are recovering from financial difficulties caused by weak container freight rates, but are not in the clear yet as their lack of...
DSV buys UTi for $1.35 billion HONG KONG - Danish logistics company DSV will acquire loss-making UTi Worldwide for $1.35 billion in a surprise announcement that represents a 50 percent premium on UTi's closing price yesterday.UTi said it has entered into a definitive agreement to be acquired by DSV for $7.10 in cash per ordinary share...
Asia-Med rates hit record lows after Golden Week shut down HONG KONG - Spot rates on the Asia-Mediterranean trade fell to their lowest ever levels this week, hitting $244 per 20-foot container as China shut down during the country's Golden Week national holidays.Shipping a TEU from Shanghai to a port in the Med will cost just $244, according to the...
Peak is a thing of the past, say shipping execs MEMPHIS - This year's peak shipping season has come and gone, and with it so has the notion of a traditional peak season, industry executives said at the JOC Inland Distribution Conference here Thursday. The season was surprisingly abrupt for many, said Shawn Tureman, director of domestic intermodal marketing at Norfolk...
Petronas in $28bn pledge Petronas of Malaysia has said it will continue to develop a new $28bn LNG terminal in Canada despite a market slump.
Print copies may be delayed UK customs delays could hold-up the arrival of this week's print copy of TradeWinds in some regions.
Fourth quarter: feast or famine? Opinion split on what joys seasonality will bring for cape owners in the final months of 2015.
Little hope on horizon Activity is expected to be "very limited" in the North Sea anchor-handler (AHTS ) spot market once Shell has fixed its latest rig move.
Glencore leads the race Glencore's plans to axe more than 1,000 jobs have boosted the company's shares today, with its main competitors joining the party.
Grandweld grabs three Middle East yard to build three new crew ships for INW of Egypt.
Latitude Brokers in MBO Hong Kong insurance start up gains independence but plans to retain Cooper Gay relationship.
Mr Teekay steps down Teekay Gas Services' long-standing head David Glendinning has decided to retire in December.
The buck stops elsewhere We take a look at what was said in the market over the past week.
Petrofac ditches ZPMC deal Petrofac has binned its contract with China's ZPMC shipyard for a deepwater multi-purpose offshore vessel.
LME plots Baltic bid The Baltic Exchange is the subject of a takeover enquiry from the London Metal Exchange, reports claim.
Another for Pemex? Mexican oil company considers adding third accommodation ship to Spanish orderbook.
Brodosplit eyes orders Speculation has begun over possible new orders for Croatian shipyard Brodosplit after a visit by a South African delegation.
BLT wins cash injection Restructuring owner Berlian Laju Tanker (BLT) has secured a cash injection of $10m from new Indonesian investors.
All aboard the tanker train Fearnley Securities has hiked its crude tanker rates expectations for the next two quarters and predicted an upward march in owners' share prices.
BLT wins cash injection Indonesian investors taking 9.5% of restructuring owner by buying convertible bonds for $10m.
Wartsila into Yamal A Yamal LNG icebreaker currently under construction in Russia will have a Wartsila engine installed on it.
"No NOL bids yet" Singapore state investment company Temasek Holdings has reportedly yet to receive offers for container line NOL.
Apollo gets 5.2% of TNK Apollo Management has revealed a 5.2% stake in Teekay Tankers as a result of the sale of Principal Maritime to the New York-listed owner.
BoA bins PGS stake Bank sells its $50m-plus holding in Oslo-listed offshore vessel owner, filing shows.
Panama transits drop The Panama Canal has posted a 3.1% drop in year-on-year vessel transits during September.
Vroon laying up 12 Dutch owner Vroon is to put 12 offshore vessels into lay-up as the offshore slump continues.
Yildirim sale nears Turkey's Yildirim Group is close to agreeing a deal to sell its stake in French container line CMA CGM.
Flinterstar a 'wreck' The owner of the ship that collided with an LNG carrier off Belgium on Tuesday has described the vessel as a 'wreck'.
Courage gets new investor Distressed stocks specialist buys in to Hong Kong and Singapore-listed bulker owner.
Breakthrough for A2SEA Denmark's A2SEA has secured its first contract in Asia with work on the Taiwanese project Formosa 1, it has been confirmed.
Oil spill off Statfjord A KNOT Offshore Partners (KNOP) owned shuttle tanker has been involved in an oil spill off the coast of Norway.
Three years of box 'pain' Drewry Shipping Consultants and Bimco both issued pessimistic outlooks for the containership sector as growing vessel supply meets slumping demand on high-volume trade lanes.
Observers say slow steaming could be losing its appeal Shipping lines have been announcing speedier transit times on selected services.
Arresting ships A study of the OW Bunker collapse and South Africa as a potential system of law to enforce claims
Air lubrication: 'Trials failed to find fuel savings' But Maersk says its sea trials do no mean the concept in dead.
Indonesia in ship renewal programme To cut bunker expenses and improve country's navigation systems.
Brightoil closer to realising online ambitions New e-commerce platform seeks to provide a variety of energy and financial solutions.
Platts Med HSFO cargo specification moves close to ISO 8217:2010 Now broadly in line with the latest upper limits for RMG 380 residual marine fuel, such as cat fines.
Bahri profit doubles Bunker spendings increase to support higher operational activity.
Firm to produce biofuel from whisky byproducts Facility would produce biobutanol, which is 'currently being trialled in the shipping industry'.
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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