South Korea's KMTC Line reviews fleet structure ahead of tougher times on Intra-Asia trades KMTC Line, Korea's third-largest container line and the country's biggest player in the Intra-Asia segment, is reviewing its fleet structure ahead of expected tougher conditions on Intra-Asia routes next year due to rising capacity and sinking demand. "We had no demand peak in the third quarter of this year and this...
Jiangsu New Hantong secures orders for three 74,000 dwt tankers China's Jiangsu New Hantong Ship Heavy Industry (Jiangsu) has secured a contract to build three 74,000 dwt Long Range 1 product tankers for Germany-based shipowner Conti Group. According to Jiangsu's corporate website, all three vessels are to build in New Hantong Shipyard and are scheduled for delivery between December 2017 and...
DS Torm mulls NYSE share listing The New York Stock Exchange. Credit: PADS Torm, the listed Danish product tanker company, said it is contemplating to list its shares on the New York Stock Exchange. It is already listed in Copenhagen. "Torm A/S announced today that it is contemplating a new structure with a potential listing on the New...
Viking Ocean increases Fincantieri order Fincantieri where Viking Ocean Cruises has placed an order. Credit: FincantieriViking Ocean Cruises has increased the number of cruse ships it has booked at Fincantieri from four to six. The latest order is for another pair of 47,800 gt sister vessels, with delivery scheduled for mid-2018 and late 2020. The two cruise...
Why private equity is cashing in Wall Street legend Bernard Baruch one said, "I made my money by selling too soon." That, in a nutshell, explains the recent flurry of tanker sales by private equity investors. For those in shipping who are more focused on 'buy low, sell high' vessel trading than on getting cargo from point...
Commentary: Why private equity is cashing in Credit: PAWall Street legend Bernard Baruch one said, "I made my money by selling too soon." That, in a nutshell, explains the recent flurry of tanker sales by private equity investors. For those in shipping who are more focused on 'buy low, sell high' vessel trading than on getting cargo from...
The contrast between dredging and commercial shipping Having just come back from CEDA Dredging Days conference - constructive, informative and a generally excellent event, thank you for asking - I was struck by the difference in attitude between the dredging sector and its bigger older sister, commercial shipping. Realisation is just dawning in shipping that yes, January 2016...
Commentary: Shipping interest in Northern Sea Route cools Russian icebreakers attempting the Northern Sea Route. Credit: PAThe Arctic Circle assembly in Reykjavik, Iceland, recently heard several country delegations argue in favour of free and safe access to the Northern Sea Route (NSR). The NSR is a navigable channel that winds its way through the Kara Sea, the Laptev...
Videotel's Maritime Training Programs Now Deployed on More Than 12,000 Vessels Worldwide November 11, 2015 - Videotel, the leading international provider of e-Learning maritime training and software solutions and a company of KVH Industries, Inc., (Nasdaq: KVHI), announced today that its training solutions are now in use on more than 12,000 vessels worldwide, with more than 300 new vessels having joined in the...
RCL orders feeder vessel pair Thai-owned Regional Container Lines has contracted Jiangsu New Yangzi shipyard to build two feeder container ships. The 1,688 teu pair will have an overall length of 172 m, the maximum length allowed to navigate the inland waters to Bangkok. Both vessels are scheduled to be delivered before the end of 2017. The Thai...
HMD wins LPG carrier order Navigator Holdings has returned to Hyundai Mipo Dockyard for a fully refrigerated LPG vessel. The New York-listed owner and operator announced the contract, with a delivery date scheduled for August 2017, after receiving a long-term charter contract for a midsize gas carrier. Navigator Gas owns and operates the world's largest fleet...
Offshore service provider PGS raises USD100 million from share placement PGS seismic vessel Nordic Explorer. Credit: PAPetroleum Geo Services (PGS), the listed Norwegian seismic services provider to the offshore oil and gas industries, said it has raised NOK919.6 million (USD104.6 million) in a private share placement. The company placed with institutional investors in Norway and abroad 21,779,999 new shares and 1,800,000...
Team Tankers enjoys strongest market since early 2009 Team Tankers International, the chemical carrier group formed from restructured Eitzen Chemical, has reported the firmest market since early 2009 and a profit for 3Q15. Group net profit amounted to USD7.4 million in 3Q15 compared with a loss of USD23.7 million in the same period last year. Revenues fell to USD79...
Transas Simulation User Conference 2016 erases the boundaries More than 200 experts from all around the world will attend the global Simulation User Conference (SimUC 2016) 'Simulation and Training without boundaries', which will be hosted by Transas in Singapore on January 28, 2016. Transas SimUC is a regular international event, that gathers Transas simulators users and Transas partners to...
Singapore launches Arctic sea route forum The benefits of the Arctic Sea Route were discussed today in Singapore. Photo: Vice and VirtueSingapore has an important role to play in the development of the Arctic sea route, despite it being an Asian country far from the Arctic region. Speaking today at the Arctic Circle Singapore Forum, Teo Chee...
Concord Energy halts coal trades Concord's decision was due to plunge in coal prices. Credit: PASingapore-based Concord Energy has stopped trading coal to focus on its crude oil trading and storage businesses, IHS Fairplay has learnt. Chartering sources told IHS Fairplay that Concord Energy, which was active in fixing bulkers to transport coal cargoes, has been...
Shipping interest in Northern Sea Route cools The Arctic Circle assembly in Reykjavik, Iceland, recently heard several country delegations argue in favour of free and safe access to the Northern Sea Route (NSR). The NSR is a navigable channel that winds its way through the Kara Sea, the Laptev Sea, the East Siberian Sea, and the Chukchi...
Debate intensifies on private equity tanker sales Ridgebury CEO Bob Burke. Credit: Greg MillerIs private equity 'jumping ship' on tankers and will this exit strategy accelerate to the detriment of asset pricing? This increasingly pressing question was debated at the Marine Money forum in New York on 10 November and explored in interviews with IHS Fairplay. Connecticut-based...
Shipping veteran sees fundamental investor shift Gener8 CEO Peter Georgiopoulos. Credit: Greg Miller.The US public market for shipping companies has experienced a profound shift in its investor mix, which partially accounts for this year's very poor stock performance, according to Gener8 Maritime CEO Peter Georgiopoulos. Georgiopoulos has taken five NYSE-listed companies public: crude tanker owner General...
Korean shipbuilding's winter of discontent In the wake of DSME's mammoth losses, Korea's government and state lenders apply pressure on shipbuilders
J. Lauritzen sees third-quarter losses widen Dismal demand growth and tonnage trouble will make this the reality of the market for an extended period, says Danish owner.
Pioneer Marine cancels three orders and delays a further five Orderbook revision at Chinese yard Yangzhou Guoyu frees up $34m of equity as dry downturn demands re-think
Seven yards join Beijing rig-building whitelist Whitelist's funding requirements and high technology threshold push private shipyards out
Diana posts third-quarter loss Owner misses analysts' forecast by $0.04 per share
Top 20 container lines braced for industry shake-up Mergers on the horizon as ocean carriers struggle with freight rate meltdown
Feeding the demons Feederships operators are an often overlooked but absolutely crucial part of the global supply chain
Scandlines seeks to scupper Denmark-Germany tunnel Ferry operator to challenge finance model in European Court of Justice
Odfjell books second successive solid quarter Norwegian chemtanker owner holds income at $7m despite 5.5% fall in revenue
NYK Line inks VLGC time charter contract with Astomos Japan line to have twelve very large gas carriers operating under time charter with gas supplier
Hyundai Heavy signs yard build and operate deal with Saudi Aramco New shipyard to build vessels that are no longer profitable for Korean shipyards to produce
Improved market conditions lifts Team Tankers' earnings Lower bunker prices contributed to earnings
Mercator requests trade suspension Move comes in wake of HSH Nordbank's filing for appointment of a judicial manager on Tuesday
Viking Ocean Cruises orders two more ships from Fincantieri Vessels expected to be delivered mid-2018 and end-2020
Jiangsu New Hantong wins three LR1 tankers Similar vessel type priced at $41m at a competitor yard last month
ICTSI launches mobile real-time container monitoring application App available for iOS and Android users
Ryder sees growing interest in natural gas trucks The price of diesel may be at a six-year low point, but Ryder System sees continued interest in natural gas vehicles. Several customers, ranging from a dedicated trucking operator to a food service redistributor, have ordered natural gas-powered vehicles from Ryder recently. Many of those companies are putting single trucks into...
JOC economist cuts U.S. import growth forecast Swollen inventories and sluggish global growth have led JOC Senior Economist Mario O. Moreno to cut his forecast for U.S. containerized imports this year to 5.4 percent from his previous forecast of 6.6 percent. Moreno also trimmed his import growth forecast for 2016 to 5.5 percent from 7 percent. The lowered...
Searchers find El Faro's bridge, continue search for recorder The USNS Apache, which located the wreckage of the El Faro.U.S. Navy searchers have located the navigation bridge of the cargo ship El Faro, which sank Oct. 1 with the loss of its 33-member crew, and are continuing to search for the ship's voyage data recorder. The National Transportation Safety Board...
Port of Virginia posts record month for containers The Port of Virginia handled 233,466 twenty-foot-equivalent units of full and empty containers in October, making it the port's single busiest month ever and the eighth straight with volume above 200,000 TEUs. The port's previous single-month record for TEUs was set in May with 230,511 TEUs handled, the Virginia Port Authority...
LA imports dip in October Containerized imports in Los Angeles declined 3.3 percent in October compared to October 2014, following a trend that saw West Coast ports losing some market share last month while East Coast ports gained. The largest U.S. container port in October also reported a decline in exports of 14.7 percent, with total...
JOC Inland 2015 Sponsor: Mallory Alexander International Logistics Neely Mallory, president, Mallory Alexander International Logistics, discusses preparations for the expanded Panama Canal, regulation, and the company's push into China with Alessandra Barrett, senior content director, JOC, at the JOC Inland Distribution Conference in Memphis, Tennessee, in October. ...
C.H. Robinson names new president of North America surface transport C.H Robinson Worldwide, the largest U.S. non-asset third-party logistics provider, has appointed Robert Biesterfeld, a long-time employee, as president of North American Surface Transportation. Biesterfeld, currently serving as vice president, Truckload, has spent the last 16 years with C.H. Robinson, working variously as vice president of Sourcing and Temperature Controlled Transportation, genera
South Korea carrier reviews fleet structure ahead intra-Asia turbulence Credit: Christian JunkerKMTC Line, South Korea's third-largest container line and the country's biggest player in the intra-Asia segment, is reviewing its fleet structure ahead of expected tougher conditions on intra-Asia routes next year due to rising capacity and sinking demand. "We had no demand peak in the third quarter of this...
HHLA profit, revenue decline on double-digit container drop HHLA HamburgHHLA's profit and revenue declined in the first nine months of the year as Hamburg's biggest stevedore suffered a double-digit slump in container volumes. Earnings before interest and tax shrank 5.6 percent to 123.9 million euros ($133.8 million) from 131.3 million euros a year earlier and revenue contracted 4.2 percent...
Panama transshipment boom from expanded canal unlikely, port analyst says Manzanillo International Terminal, Panama.Widespread predictions that an expanded Panama Canal will set off a boom in Panamanian transshipments are unlikely to pan out, according to port analyst Asaf Ashar. "The assumption is that as ship sizes grow dramatically, the incidence of transshipment also will grow dramatically. This is not happening," said...
NAT gets more NAO Suezmax owner shows confidence in offshore spin-off with $9.5m pact.
HSH sells $538m of bonds Restructuring German lender raises more cash as it boosts finances after EU deal.
Finnlines in best ever quarter Emanuele Grimaldi sees operational strategy bear fruit as ferry company posts strong result.
TNG wins best rate yet Croatian owner's new SPP-built MR tanker fixed for a year at $19,300 per day.
Diana Shipping loss deeper than forecast Shipowner slips below third quarter forecasts but its cash pile is bigger than a year ago.
Scandlines calls for Fehmarn rethink Ferry owner wants long-term funding for Germany-Denmark tunnel to be reconsidered.
Sewol captain's term upheld South Korea's supreme court backs life sentence for Lee Joon-seok after tragic ferry sinking.
Scandlines calls for rethink Ferry owner wants long-term funding for Germany-Denmark tunnel to be reconsidered.
Rem Offshore turns red in third quarter Norwegian offshore owner books quarterly loss as revenue falls in poor market.
Viking can't avoid the offshore slump Oslo-listed owner posts loss in Q3 due to impairment charge from its PSV fleet and weak rates.
RCL records a loss for third quarter Bangkok-listed boxship owner posts modest quarterly loss but remains in the black this year.
Box slip proves costly Liner agent fined $300,000 after sending nine containers to Oakland instead of Seattle.
General cargoship engulfed by fire Crew evacuated as firefighters tackle blaze on Chinese vessel in Japan.
Nolan puts price on Navigator newbuild Management offers wide price window for latest gas carrier while Stifel analyst has a firm figure.
F Laeisz takes ICBC cash Chinese lender provides $65m in export credit to German owner for ro-ro upgrades.
Cosco Corp turns red Singapore-listed shipbuilder posts a loss in Q3 as its shares remain suspended ahead of "complex" merger.
ICG ups earnings Irish ferry and boxship owner logs better Q3 profit as fuel costs drop and revenue rises.
Private equity shifts to secondary loan market UBS analyst says loans and not steel are now the purchase of choice for private equity investors.
Where is the private-equity money? UBS analyst Spiro Dounis concludes that hedge funds are still investing in shipping, but not on the equity side.
Tallink on the rise Estonian ferry owner carries more passengers during summer; pushes up Q3 revenue and profit.
Paragon switches listing Greek owner cleared to move to Nasdaq Capital Market after struggling with $1 price requirement.
Bharati loss widens Indian shipbuilder racks up deficit of $33m in its second quarter.
Odfjell's gas ambitions checked for now Chemical tanker owner back in profit in Q3, but is in talks with Chinese yard over eight "significantly delayed" new LPG ships.
PGS raises $107m Norwegian survey ship owner sells new shares to boost its balance sheet.
BTS buys Ardmore pair Singaporean based tanker operator in the small and intermediate segments expands fleet.
Pacific Radiance profit wiped out Q3 Pang Yoke Min-led company latest casualty in the battle to survive offshore industry collapse.
Epic shrinks Q3 loss Improved charter rates and cost cutting help to push LPG specialist almost into the black.
DSME told to halt work Korean yard reportedly told to stop construction on VLGCs until safety can be guaranteed.
Qube joins battle for Asciano Aussie port group's former top executive returns with takeover bid in battle with private equity fund.
Hoegh LNG Partners to restate earnings New York-listed FSRU owner says financials should not be relied upon after tax review.
Gibraltar eyes role in global LNG bunkering network Port CEO highlights its strategic location to become a hub for the cleaner fuel.
Uptake of better fuel specs still slow WFS sees about 30% of bunkers sold to latest ISO 8217 specs, big variations reported by fuel testing agencies.
Fuel oil stocks climb in Singapore Stocks have been holding above 25 million barrels since mid-July.
US DATA: Residual fuel oil stocks highest since 2010 Despite a significant increase in demand.
Onshore oil storage 'approaching capacity' 'The volume of crude oil and fuel oil held on tankers has soared.'
Positive quarterly results keep Finnlines on track Fuel-efficiency paying off, says president.
New 'hybrid' ECA fuels given good reviews Fuel testing agencies report good fuel characteristics and positive user feedback.
Charters use lower bunker prices to keep rates in check Chemical tanker operators under pressure.
Bigger profits for tanker company Performance supported by lower bunker prices.
Mercator Lines: Interim manager application dismissed Move by HSH fails to convince Singapore court.
Koh Leong Teck joins Mabanaft Koh has regional trading manager for fuel oil.
Bomin hires credit specialist As company focuses on growth in key territories.
Panama bunker sales volume up Port recorded total sales of 305,761 mt for September.
Another bunker supplier added to ferry's creditor list US company owed a total of $297,000 in unpaid fuel bills.
New Director at Titan Petrochemicals Hu Hongwei has 'extensive experience' in the legal sector, says company.
VPS: Improper sampling control at international ports Lapses can pose 'significant commercial risk' in the event of dispute, says CEO.
Relevant expertise lined up for IMO's availability study Teams with expertise in both demand and supply side will assess whether there is sufficient supply of 0.50% sulphur fuel.
Platts Pre-Report Survey of Analysts' EIA Data Suggests a 500,000-barrel draw in US oil stocks.
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