Strike hits Callao port Port workers have begun an "indefinite" strike at the general cargo facility in Callao, Peru operated by APM Terminals (APMT). APMT spokesperson Tom Boyd confirmed to IHS Maritime that the labour action, which he dubbed "illegal", began on 13 May. Boyd stressed that the strike is not affecting
Ulstein looks at renewable energy sector after good 2014 Ulstein Group, the privately owned Norwegian ship design-to-shipbuilding group, says it will focus more on the renewable energy sector after posting 2014 results it describes as "good". Group pre-tax profit fell to NOK167.7 million (USD22.3 million) last year from NOK360.8 million in 2013. However,
Star Bulk sells discounted shares NASDAQ-listed Star Bulk has priced a heavily discounted equity offering to raise funds for its newbuilding programme. The bulker owner is selling 56.25 million shares at USD3.20/share, a 15.1% discount versus the closing price on 12 May, immediately prior to the offering announcement. Star Bulk
Another Mediterranean car ferry suffers fire A Mediterranean car ferry was disabled by fire shortly after it left the Italian port of Bari in the Adriatic last night for the Albanian port of Durrës. Italian press agency Ansa reported that the fire broke out at 0100 h local time in the engine room of the Adria Ferries vessel, Francesca, seven
Hafnia seeks US share listing Hafnia Tankers, the Danish product tanker owner, has applied to have its shares listed in the US. The company said today that it had applied to register with the US Securities and Exchange Commission (SEC), with a view to making an initial public offering (IPO) on the New York Stock Exchange. "The
Australia moves to axe cabotage The Australian federal government today announced it is to axe legislation introduced to promote Australian-flagged shipping and will deregulate the coast. While the move has been hailed by Shipping Australia Limited, the peak industry body representing foreign shipping in Australia, and some
Maersk Line profit soars to $714m in 1Q15 Maersk Line, the container shipping unit of the AP Moller-Maersk (APMM) group in Denmark, has reported a sharp rise in net profit in the first quarter of 2015 despite a drop in volumes and turnover. Maersk Line's net profit reached USD714 million in the first quarter of 2015 compared with USD454
Maersk predicts container volume growth in 2015 Global container shipping volume is likely to grow at the low end of the 3% to 5% range, according to the Danish transportation and energy conglomerate AP Maersk-Moller (APMM). "The volume growth forecast of 3% to 5% is retained, but we expect the growth to be at the low end of the range," said
STX Dalian goes unsold at first auction The first auction of six subsidiaries of the STX Dalian Group, the bankrupt subsidiary of South Korea's STX Corporation, was called off on 12 May after failing to find a bidder. The assets of the companies - STX (Dalian Shipbuilding), STX (Dalian) Heavy Industries, STX (Dalian) Marine Engineering,
Severe weather hampers MH370 search Severe weather has hampered the search for missing Malaysian passenger aircraft MH370 for the second week running, with the survey vessel Fugro Supporter pulling out of the search. Deteriorating weather and sea conditions have made it unsafe to launch and recover the autonomous underwater vehicle,
Thai rice exports may drop this year Thai rice exporters are signalling that exports of their produce will fall, triggering changes in demand in where it is shipped to. "Since Thai rice prices are still higher than our competitors [Vietnam and India] the demand from both Asia and Africa is moving to the countries where rice is
Hapag-Lloyd swings to first quarter profit German container line Hapag-Lloyd returned to profit in the first quarter of 2015, buoyed by a steep drop in fuel costs and first operational synergies with the CSAV container shipping business it took over at the end of last year. The group's operating result (EBIT) rose to a surplus of EUR160.5
Vard records $30m loss in 1Q15 Singapore-listed Norway-based shipbuilder Vard Holdings has posted a loss of NOK226 million (USD30 million) for the first quarter ended 31 March 2015, compared with a profit of NOK85 million in the same period last year. The company has incurred a loss despite an increase of 14.6% in its revenue of
Delfin applies for first US floating LNG port Delfin LNG has applied to the US Maritime Administration (MarAd) and the US Coast Guard (USCG) to approve what will be the first US deepwater floating LNG port. The proposed Port Delfin, about 80 km (50 miles) off the coast of Louisiana in the Gulf of Mexico, is seeking approval to export about 9.2
COSCO launches new China-ASEAN service COSCO has started a new service from Yueyang, a city by the Yangtze River in Hunan province, to Vietnam and Thailand on 2 May. The 150-teu box ship COSCO 01 commenced its voyage from Yueyang, and is expected to arrive in Vietnam on 21 May, unloading 50 teu of chemical products, and to Thailand on
SapuraKencana bags new contracts worth $269m Malaysia-listed oil and gas services provider SapuraKencana Petroleum has been awarded contracts with a combined value of up to MYR969 million (USD269 million). According to its filing to the Malaysian stock exchange Bursa Malaysia, SapuraKencana stated that its wholly owned subsidiaries within the
Swissco posts profit of $21.87m in 1Q15 Singapore-listed offshore marine services provider Swissco Holdings has posted a profit of USD21.87 million in the first quarter ended 31 March 2015. The profit after income tax of USD21.87 million marked a fivefold increase compared with the profit of USD4.14 million in the first quarter of 2014.
Caution urged on tanker orders Despite the recovery in oil tanker freight rates, a ship broker has cautioned shipowners against rushing to build new ships. After ending 2014 at a positive note, the oil tanker market has continued its strong performance in the first quarter of 2015, noted Banchero Costa. IHS Maritime's
ASL Marine's 3QFY15 profit plunges 57.5% Singapore shipbuilding group ASL Marine said on 12 May that its profit for the third quarter of financial year (FY) 2015 fell 57.5% to SGD2.1 million (USD1.57 million) as demand for offshore support vessels fell with the collapse in oil prices. ASL Marine chairman and managing director Ang Kok Tian
DSME considers takeover of STX France KDB proposes sale of remaining asset of STX Europe to South Korean shipbuilder
MHI posts $1.2bn losses from building Carnival cruiseships Japanese industrial giant faces mounting costs but says design problems are resolved
Discounts on crude for Asian buyers spur VLCC demand Asians are paying less for Middle Eastern crude than Europeans
HHLA operating result up 9.3% in first quarter But container throughput falls after disappointing start to the year for its seaborne trade
Shipping to stay difficult in 2015, predicts DVB Bank remains cautious on the outlook, despite doubled first-quarter profits
Hapag-Lloyd returns to profit The CSAV acquisition, a strong US dollar and lower bunker prices help the German carrier post $144m profit for first quarter 2015
Rickmers ready to take 2015 revenue hit But ebitda can be maintained by cost management, says German owner
Five risks that could rattle tankers Flashpoints that could potentially disrupt the tanker bull market
Maersk reaps benefit of low oil prices Maersk Line sees a $260m rise in year-on-year quarterly profit, citing low bunker prices as major factor
Maersk Tankers rises to $36m profit on enthusiastic demand for product tankers Cutting costs has also helped the tanker division boost performance and match product tanker rivals such as Scorpio Tankers and d'Amico
Financing newbuildings drives $150m Star Bulk share offer Bulker giant is turning to shareholders to fund orderbook and possibly new acquisitions
Torm to push through restructuring plan Tanker owner turns to English law to secure the power to make changes with less than 100% approval from lenders
GAC Netherlands opens new offices to tap oil & gas sector GAC Netherlands is expanding its range of services with the opening of two new branches to offer air freight solutions at one of northern Europe's key airports and dedicated support for the North Sea oil & gas sector. From 15 June, the newly opened Schiphol office will offer clients both air...
Domestic intermodal pricing to accelerate if container dumping ruling holds U.S. shippers will likely see even higher domestic intermodal rail prices if the International Trade Commission rules against the Chinese manufacturers of 53-foot containers at the end of the month. In April last year, Stoughton Trailers, a Wisconsin-based manufacturer of transportation equipment for trucks and train, filed a federal unfair trade...
Trailer & Cargo Tracking System Delivers Benefits For Logistics One Asset Intelligence, a subsidiary of I.D. Systems, Inc. (NASDAQ: IDSY), a leading provider of wireless solutions for the Industrial Internet of Things, has executed a contract with Logistics One, Inc., to deploy its VeriWiseTM Dry Van tracking and management system on Logistics One's fleet of 300 trailers. The term of the...
Lack of ships at anchor reflect LA, Long Beach recovery The ports of Los Angeles and Long Beach continue to dig out of the vessel backlog that has plagued the largest U.S. port complex since last fall. For the third consecutive day, the Marine Exchange of Southern California reported that no container ships were at anchor.= During the peak of port...
Union, APM Terminals dispute impact of Peru port strike General cargo handling at APM Terminals' facility in Callao, Peru, has been disrupted by a labor dispute, but the company and the union involved in the dispute differ over whether it affected container operations. APM Terminals told JOC.com Wednesday that a labor action caused general cargo delays at the Callao's North...
'Active' Class 8 truck capacity forecast to rise 5.8 percent in 2015 The number of active Class 8 tractors on U.S. highways will rise 5.8 percent in 2015, reaching 1.43 million, according to ACT Research, as economic expansion rolls on and thousands of trucks ordered last year are delivered. The significant jump in the U.S. heavy truck population this year will follow a...
US Congress wades into port congestion, labor issues WASHINGTON - In the aftermath of the crippling West Coast longshore labor negotiations, legislation pushed by the third-ranking Senate Republican aims to keep Congress more in the loop on port congestion flare-ups and gauge how labor negotiations impact port performance. The legislation - co-introduced by Sen. John Thune of South Dakota...
More advanced software needed to meet new logistics challenges Mitch Weseley addresses the ALK Transportation Technology Summit. Photo courtesy ALK Technologies. Technology has evolved rapidly since 2000, the year Ericsson introduced the first recognizable smart phone, but Mitch Weseley says the systems used to ship goods around the globe haven't kept pace. Many shippers, the logistics software pioneer says, still...
TransForce Inc. acquires Davis Transportation Services ALEXANDRIA, Va., April 19, 2015 /PRNewswire/ - TransForce, Inc. the nation's leading staffing firm specializing in quality commercial truck drivers, has acquired the assets of Davis Transportation Services (DTS). DTS is a leading regional provider of high-quality commercial truck drivers serving New England with offices in Boston and Springfield, Massachusetts....
Shipbuilders Council of America names Godfrey chairman WASHINGTON, D.C. (May 11, 2015) - The Shipbuilders Council of America (SCA), the national trade association representing the nation's shipbuilding and repair industry, announced that Tom Godfrey, President and CEO of Colonna's Shipyard in Norfolk, Virginia, has been appointed as Chairman of the Board of Directors. Joining Mr. Godfrey as SCA's new...
10 port projects gained India approval in fiscal year 2014-15 India's federal government awarded 10 new public-private partnership port development contracts in fiscal year 2014-15, which ended in March, Minister of State for Shipping Pon Radhakrishnan said in a written statement. Radhakrishnan said the PPP projects, involving a total investment of Rs. 9,376.43 crore (about $1.5 billion), would add 95.11 million...
Intermodal volumes give boost to HHLA profit LONDON - HHLA boosted its first-quarter operating profit by 9.3 percent from a year ago as a sharp increase in intermodal volumes offset lower seaborne container traffic. Hamburg's largest stevedore earned 43 million euros ($48.2 million) before interest and tax, compared with 39.3 million euros in the first three months of...
Strategy laid for deepening Mississippi to Capesize capacity U.S. ports on the lower Mississippi River cannot yet accommodate Capesize vessels, but the Obama administration is taking steps to see that they can. The U.S. Army Corps of Engineers today revealed its plans to prepare a supplemental environmental report that it will integrate into a larger investigation to deepen the...
Hapag-Lloyd returns to profit in first-quarter 2015 LONDON - Hapag-Lloyd swung to a first-quarter profit of 128.2 million euros ($143.6 million) from a year-earlier loss of 119.1 million euros as a stronger dollar and lower bunker prices helped to offset weaker freight rates. The German container line's revenue soared to 2.3 billion euros from 1.55 billion euros in...
Maersk 'committed' to APM Terminals despite slide in profit, traffic LONDON - Maersk will continue to invest in the expansion of APM Terminals despite its port unit posting a reduced profit for the first time in "many, many quarters and years," according to the group's CEO. "There is no change in our commitment to invest in this business," Nils Andersen said...
Investments being made to build integrated cold chain The global cold chain is in the midst of rapid expansion. Growing volumes of perishable imports and exports are impacting stakeholders throughout the global cold chain, especially as more refrigerated cargo migrates to the intermodal sector. Executives from various interests, including ports, cold storage providers, third-party logistics providers and carriers,...
Damco narrows loss but can't stop slide in market share LONDON - Damco's reduced first-quarter loss came at a price as the Maersk Group's freight forwarding and logistics unit ceded more market share to its rivals.The loss narrowed to $9 million from $10 million in the first three months of 2014 as revenue shrank 9 percent year-over-year to $683 million...
Maersk Line doubles first-quarter profit to get year off to solid start HONG KONG - Maersk Line's first quarter profits doubled to $710 million as the carrier reported its best ever quarterly results despite declining volumes and freight rates in what it described as a "challenging market." The benefits of scale were evident in the first quarter as unit costs fell 6.2 percent...
DryShips to extend loan DryShips is in talks to extend the maturity of a loan that has already lapsed.
Analysts chop Star targets Two analysts cut their outlook for Star Bulk Carriers today as a fundraising drive pushed its Nadsaq-listed stock price sharply downward.
Royal Caribbean sued in assault case A Missouri woman has filed a lawsuit against Royal Caribbean Cruises alleging that a crew member sexually assaulted her 16-year-old daughter.
Integro targets marine Growing US insurance broker, Integro, is expanding in the marine market with the acquisition of well regarded specialist Kite Warren & Wilson (KWW).
Star Bulk to raise $180m Star Bulk Carriers is planning to raise more money than initially estimated through a direct public offering.
Cosco scraps again China Cosco Holdings Co (CCHC) has sent another four ships to breakers yards as it continues to renew its fleet.
Hafnia hikes profit Hafnia Tankers has reported a sharp rise in first quarter profit less than 24 hours after formalising its intention to pursue a US IPO.
HSH eyes Korean market Germany's HSH Nordbank is targeting more Korean and Asian business in a tie-up with a state lender.
Ulstein profit slips Norway's Ulstein Group has seen its operating profit for 2014 shrink despite a revenue rise.
Capesize spot rates rising Capesize rates showed significant percentage gains today for a second session in a row.
"Warned by a bomb" The crew of a Turkish cargoship shelled by Libya have denied they were given warning by government forces.
Diana turns red Diana Shipping has seen its loss widen during the first quarter due to reduced time charter rates.
NNA hits new high Greek tanker owner Navios Maritime Acquisition Corporation (NNA) has surged to its best ever quarterly result as revenue jumped.
Eidesvik in red again Eidesvik Offshore has posted a red bottom line for the fourth consecutive quarter but managed to boost operating profit.
Finnlines doubles up Finnlines has managed to increase earnings during the first quarter as its multi-million environmental project nears completion.
PDZ falls to loss Malaysian containership owner PDZ Holdings has posted a deficit in its third quarter as costs rose.
Havyard finds replacement Havyard Group has found a replacement for chief financial officer Karl Eirik Froysa Hansen.
RCL back in black Thailand's Regional Container Lines (RCL) has returned to profit in the first quarter as costs fell more quickly than revenue.
Bonheur makes more Norway's Bonheur has kicked-off 2015 with a higher profit thanks to a strong performance from most of its operating divisions.
DESS still making money John Fredriksen's offshore shipowner Deep Sea Supply (DESS) has kept profit stable in tough first quarter markets, but is considering laying up ships.
Fincantieri posts loss Italian shipbuilder Fincantieri has fallen to a loss in the first quarter as financial costs rose.
Awilco heads into the red Awilco LNG slipped further into the red than expected in the first quarter of 2015.
NAO turns red Nordic American Offshore (NAO) has been driven to a loss in the first quarter by the dire platform supply vessel (PSV) market in the North Sea.
Torm snaps losing streak Torm broke a losing run stretching back five years as it neared a deal that will see Oaktree Capital assume control.
Strong start for Maersk AP Moller-Maersk has reported a spike in first quarter profit thanks to the best ever showing from Maersk Line.
Skov sets sights on US IPO Mikael Skov's Hafnia Tankers is the latest products tanker owner to test the waters of the US capital markets with an attempted initial public offering (IPO).
DVB on the rise German bank DVB has pushed up profit in the first quarter but said some shipping sectors were still "difficult."
Hapag defies downturn Hapag-Lloyd has defied the challenging market environment in the containership market to post a profit for the first quarter of 2015.
Rieber knocked by NOK Norwegian owner GC Rieber Shipping has posted a loss in the first quarter due to currency movements, but operating earnings rose.
AMSC stronger US tanker owner American Shipping Company (AMSC) pushed up operating earnings in the first quarter in a firm Jones Act market.
Siem orders PCTC duo Siem Shipping has ordered two pure car and truck carriers (PCTCs) in Croatia as it looks to broaden its activities.
Team Tankers back in black Team Tankers International has made a good start to 2015 with a return to profit in the first quarter of 2015.
SBLK plans fundraiser Star Bulk Carriers said Tuesday that it is looking to raise around $150m from a public offering of its common shares.
Vard to streamline Vard is to streamline the cost structure of our business over the next few months as it prepares for a weak 2015.
Oakland sees growth The US port of Oakland has reported a modest increase in container volumes for the month of April.
Peru dockers to strike Dockworkers at an APM Terminals facility in Peru are poised to launch an indefinite strike tomorrow.
IMO sidelines Marshall Islands plea for CO2 target Environmental NGOs lambast MEPC for failing to commit to sectoral reduction target ahead of Paris climate negotiations.
Search for alternative fuels is 'urgent' Shipping needs to halve its CO2 emissions by 2050.
Oil sheen seen trailing sunk fishing vessel But not from bunker fuel, say authorities.
Fuel availability review to start 'as soon as possible' IMO's MEPC wants final report by late 2016 so it can make decision on timing of global sulphur cap.
'We will give priority to the supply of LNG as a marine fuel' Bomin Linde LNG wants Baltic LNG-bunker barge in operation by 2017.
Singapore's bunker sales have slipped year-on-year But volumes still at a three-month high.
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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