Businesses back expressway to ease Manila congestion The Philippine Chamber of Commerce and Industry (PCCI) has expressed support for a proposed elevated expressway, hoping it will head off another congestion crisis at Manila port. "Our membership is concerned over the repeat of the 2014 port congestion that resulted in business losses amounting to
DSME on course for sale of golf subsidiary South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has announced that it is moving ahead with the sale of its golf course operating subsidiary, FLC. In a filing to the Korea Exchange 13 July, the country's third-biggest shipbuilder said, "We're in the midst of selling FLC in
SIPG to acquire 79.2% of Jinjiang Shipping for USD313.2 million Shanghai-listed Shanghai International Port (Group) (SIPG) plans to acquire 79.2% of Shanghai Jinjiang Shipping (Group) for as much as CNY1.9 billion (USD313.2 million). SIPG will acquire the stake from Shanghai International Group and Shanghai Jiushi Corporation, a stock filing of SIPG said today.
China ship orders slumped 72.6% y/y in 1H15 Orders at Chinese shipyards slumped 72.6% year-on-year to 11.19 million dwt in the first six months of 2015, a China's Ministry of Industry and Information Technology (MIIT) said on 13 July. New orders for sea-going vessels totalled 4.13 million compound gross tonnage (CGT) during the same period,
China's iron ore price slumped 17% in two weeks Chinese iron ore prices have fallen by 17% in the last two weeks, as iron ore futures price stood at CNY364.50 (USD58.70) per tonne on the Dalian Commodity Exchange as of 10 July. Price of iron ore 62% Fe delivered to Qingdao dropped 10% to USD44.59/tonne on 8 July, according to Metal Bulletin,
Filipino lawmaker calls for lower no-sail duration in bad weather A Filipino lawmaker is urging an easing of the no-sail rule for ships, from 36 hours to 24 hours, during bad weather. Representative Rene L. Relampagos (1st District, Bohol) filed a resolution 13 July urging the Department of Transportation and Communications (DOTC) to review the Philippine Coast
Court rules against Australian sailors' sit-in Australia's Fairwork Commission has ruled in favour of Teekay Shipping that crew on board the Caltex-chartered tanker Alexander Spirit must sail to Singapore. The tanker had been carrying fuel on the Australian coast, but will now be replaced by international ships carrying fuel imports into
JES' ex-CEO disputes resignation Embattled Singapore-listed Chinese shipbuilder JES International has entered into another legal row over the resignation of its former chief executive officer Jin Xin. "The company has since received a letter from law firm Colin Ng & Partners who is writing on behalf of Mr Jin Xin, dated 2 July
Box ship catches fire off Japan A container ship burst into flames on 12 July in waters off Japan. The 1999-built Kamala, a 2,011teu ship, had just set sail from Okpo when it caught fire some 220 miles west of Kuchinoshima in the East China Sea around midnight that day. The Japan Coast Guard took action after receiving a
Lianyungang Port Group confident on Valemax access by 2017 China's Lianyungang Port Group, the largest operator of the port of Lianyungang, showed confidence that it would be granted permission by China's Ministry of Transport (MOT) to be docked by 400,000 dwt class ore carriers, or Valemaxes, in about two years. Lianyungang Port Group will secure the
Vallianz wins contract worth up USD300 million in the Middle East Singapore-listed offshore oilfield services provider, Vallianz Holdings (Vallianz) has been awarded a contract win worth up to USD300 million to supply two self-elevating platforms in the Middle East. The contract win marked the first time that Vallianz entered long-term charter agreement in
Astomos Energy and ENEOS Globe to cooperate in LPG sphere Japanese LPG importers Astomos Energy and ENEOS Globe have allied in an arrangement that could expand their operations of very large gas carriers (VLGCs). The cooperation between Astomos Energy and ENEOS Globe, announced on 6 July, aims to realise synergy in LPG procurement, imports and shipping.
Samsung HI hit by another deferment Yet another customer has sought to delay the delivery of a drillship at Samsung Heavy Industries. South Korea's second biggest shipbuilder said in a Korea Exchange filing on 10 July that a European customer had asked to delay the delivery of the drillship from 15 August 2015 to 28 February 2017.
Japan escorts 12 commercial ships off Somalia in June Japan's Self-Defense Forces (SDF) vessels escorted 12 commercial ships in the waters of the Gulf of Aden off Somalia in June to protect them against pirate attacks, the Japanese transport ministry said on 10 July. The 12 commercial ships escorted by the SDF vessels on eight occasions under Japan's
Yokohama's cargo traffic tumbles in April Yokohama port in Japan saw its cargo traffic plunge 9.8% in April from a year earlier to 9.487 million tonnes as both foreign and domestic trade sank, according to preliminary figures released by the Yokohama municipal government. Of the 9.487 million tonnes, 6.257 million tonnes came from foreign
China Shipping Development expects fivefold increase in first-half net profits Tanker and bulker arm of CSG rides on bullish oil shipping rates, lower tax and expenses
Time is ripe for deals in LNG shipping In a market downturn, the strong stalk prey and the weak look to survive
Lloyd's List global awards 2015 finalists revealed Finalist line-up reveals a stellar cast of the industry's most innovative and outstanding companies
Vopak mulls sale of UK terminals Dutch terminal operator continues divestment of assets in developed nations
Tanker Investments must wait a little longer for its six suezmaxes With asset play the focus, those six will eventually be sold anyway
Shanghai's port operator takes equity in intra-Asia box carrier SIPG is to buy a 79.2% stake in Shanghai Jinjiang Shipping for $310m
First cargo is being shipped from Queensland Curtis' train two Maran Gas Posidonia scheduled to arrive in China in 10 days
RBS to finally bail out from Greek shipping UPDATED: Piraeus winding-down is set to spark a shake-up, even though many saw it coming
China's Mingde seeks new restructuring investors Shipbuilder says being in the shipping industry is an advantage but not a necessity
Odfjell loses head of tankers Departure of Morten Nystad marks latest change in management shake-up
Qatar Bank and Nakilat move to boost 'Qatar LNG Inc' The two Qatari institutions agree to encourage smaller local companies to enter maritime industry
China Ocean Shipbuilding mulling diversification into energy sales Possible deal with Hong Kong energy investor to sell oil and gas in China
Navig8 Product Tankers makes sale and leaseback deals worth $492m Agreements with Chinese and Norwegian owners complete funding for newbuilding programme without need to raise new equity
The doctors' dilemma Just as obesity has become almost endemic among people today, the shipping industry has inflicted corporate obesity on itself by failing to curb its constant desire for new ships
Construction on Mombasa's second container terminal delayed Construction on phase two of Mombasa's second container terminal with a capacity of 450,000 twenty-foot-equivalent units has been held up by funding hurdles. The Kenyan government has not yet officially approved the $2.6 million loan agreement with Japan International Cooperation Agency needed to begin the second phase of construction, according to...
Cleveland-Antwerp container service takes wing Port of ClevelandA niche liner service linking Europe with the Great Lakes port of Cleveland has quadrupled its container volume since adding a second monthly sailing, and port officials say the fledgling operation is starting to catch on. "We're very happy with how it is going, and we see room for...
Philippines pressed to fast-track expressway to port Port of ManilaAfter months of congestion that crippled the port of Manila and hurt shippers using the facility in 2014 and 2015, the Philippine Chamber of Commerce and Industry is pushing for the construction of an elevated expressway to forestall another crisis. The chronic congestion that defined the port through most...
Indian government approves new inland container depot Gateway Distriparks Ltd., India's leading port-based logistics provider, has received government approvals for the construction of a new inland container depot facility at Viramgam, near Ahmedabad in Gujarat State, allowing hinterland shippers improved rail access to the country's western gateway ports. "This will be a terminal on the confluence point of...
Plastic pallets could ease blow of new regulations on cold chain The heat is on for the cold supply chain industry as it prepares for the roll-out of new, more stringent federal regulations this fall. Now an Israeli company may have a solution to at least one of the challenges the industry will face when the Food and Drug Administration hands...
New CEO to keep USA Trucking rolling toward profits USA Truck is changing CEOs, but not the strategies that helped the carrier return to profit last year. John Simone, the CEO who in the last two years returned struggling truckload carrier USA Truck to profitability, retired last week to focus on improving his health. USA Truck's board of directors chose...
Plaintiffs in air cargo price-fixing suit awarded class-action status Shippers seeking damages from cargo airlines accused of price-fixing have been granted class-action status, allowing hundreds of thousands of people to seek damages against the airlines. The class-action status will apply to any shipper who used the air freight services of a number of companies from Jan. 1, 2000, to Sept....
Greek bailout to hit ports, shipping Cosco Terminal, Port of PiraeusLONDON - The bailout deal Greece struck with its creditors in the early hours of this morning in Brussels will have a major impact on the beleaguered nation's shipping industry and its ports. Any remaining doubts over the sale of the state's 67 percent stakes in the...
Container ship catches fire between South Korea and Japan The container ship Kamala caught fire in the East China Sea over the weekend. The 2,011 twenty-foot-equivalent unit capacity, Liberia-flag ship was carrying 23 crew and 796 TEUs when a fire broke out in one of the containers shortly around midnight July 12, shortly after setting sail from Okpo, South Korea. The...
Scale of China's trade strategy begins to emerge DHL is one of several logistics operators that have established weekly rail freight services between China and Europe.HONG KONG - The benefits for containerized trade have not yet been clearly spelled out in China's One Belt, One Road plan, but the scale of the initiative and the economic figures involved...
India toys with cabotage reform Port of MumbaiThe government of India is considering changes to its cabotage law to temporarily allow foreign-owned and operated ships to move domestic cargo between ports on the country's east coast in an effort to drive up the region's container volumes and reduce congestion plaguing its west coast ports. A breakdown...
Maersk sees smooth Suez sailing as canal readies for August opening This image was from a promotional Suez Canal Auuthority video.HONG KONG - The world's largest container carrier does not expect any disruptions as the Suez Canal races to meet its August 6 opening deadline for the expanded waterway that is a critical link on the Asia-Europe and Mediterranean trades.Maersk Line...
Load factor fears behind rate-destroying liner actions Carrier profitability eroded as lines force down rates in fight over market share, Drewry tells carriers.HONG KONG - Average east-west load factors of 86 percent should not automatically be considered a disaster, yet it has had the effect of making container lines completely forget about any rational pricing strategies and...
Potato waste project set to grow Australia's Asia exports HONG KONG - The South Australian potato industry has embarked on a state-funded waste-reduction project that could save growers millions of dollars while boosting exports to China, India and Indonesia.Funding of $75,000 from the state's Advanced Food Manufacturing (AFM) grant program will enable the industry to use potatoes that are...
Scale of China's trade strategy begins to emerge DHL is one of several logistics operators that have established weekly rail freight services between China and Europe.HONG KONG - The benefits for containerized trade have not yet been clearly spelled out in China's One Belt, One Road plan, but the scale of the initiative and the economic figures involved...
New IMO leader must lead by listening It was a secret ballot, but the decision of the 40-strong International Maritime Organization Council was clear: Lim Ki-tack will be the next secretary-general of the IMO, if the IMO Assembly gives its approval in November. The president of Busan Port Authority is no stranger to Albert Embankment in London: he...
Torm completes restructuring Torm has completed a restructuring deal that will see US private equity giant Oaktree Capital Management take control of the Danish products tanker owner.
ADM sues over grain cargo An affiliate of Archer Daniels Midland (ADM) has secured a court order seizing a bulker's cargo in Louisiana after its buyer failed to deliver a letter of credit required in the transaction.
Dynagas LNG preps offering Dynagas LNG Partners has filed papers to issue preferred shares to buy an LNG carrier from its Greek parent company.
Belships charters newbuild Norway's Belships has secured employment for ta newbuilding slated for delivery this year.
Vela VLCCs boost Bahri Saudi Arabian tanker owner Bahri has posted stronger earnings in the second quarter as its fleet grew.
Shares follow ships Ocean Yield's top executives have picked up shares in the company on the same day as it entered a second sale-and-leaseback deal with Navig8.
2Go eyes trio Philippines ferry owner 2Go Group is lining up new vessel acquisitions worth PHP 700m ($15.5m).
Diana panamaxes fixed Diana Shipping has secured period work for two of its vessels at a time when the dry cargo market continues to push year-to-date highs.
India extends guard's stay A ship guard is to stay in Italy for another six months ahead of his murder trial in India in a 2012 shooting case.
RBS selling Greek loans? Royal Bank of Scotland (RBS) is putting its $5bn portfolio of Greek shipping loans up for sale, it is claimed.
Trafigura takes trio Trafigura has emerged as the charterer of a trio of tankers from Singapore's First Ship Lease.
Keppel lands $85m order Singaporean shipbuilder wins contract from Crystal Heights to build second liftboat in a year.
Captain kept quiet Carisbrooke master tried to conceal Spanish grounding six days after vessel hit Kiel Canal lock.
Dry demo helps counter arrivals A rush of ships to the breakers beaches in the first half of this year has helped offset nearly half of newbuilding capacity coming into the world fleet, Clarksons Research Services says.
Boxship catches fire A fire broke out on a boxship at the Fraser Surrey Docks, off Vancouver, Canada, on Sunday morning.
Naikai wins ferry deal Japanese yard books order for ro-pax from domestic operator Nishinihon Miyajima.
Nystad exits Odfjell Odfjell Tankers' boss Morten Nystad has become the latest high-ranking executive to exit the Norwegian group.
SIPG makes boxship move Shanghai International Port Group (SIPG) is buying the 13-strong containership fleet of Jinjiang Shipping.
CSDC earnings to jump China Shipping Development Co (CSDC) is expecting a big spike in net profit in the first half from stronger markets.
Bosxhip catches fire A fire broke out on a boxship at the Fraser Surrey Docks, off Vancouver, Canada, on Sunday morning.
TIL waits on suezmax sextet Oslo-listed owner confirms third quarter arrival for tankers bought from George Economou.
No leak from boxship Thai marine officials have found no oil leaks from the grounded boxship Sinaran Andaman off Phuket.
BG Group ships Oz gas Maran Gas Maritime vessel loads first LNG cargo from Train 2 at Queensland Curtis LNG.
Jin denies quitting JES Chinese shipbuilder JES International Holdings has refuted a claim by former CEO Jin Xin that he did not quit in March.
Seven into One Norway's Subsea 7 is teaming up with a Cameron and Schlumberger company for global operations.
Vallianz builds backlog Vallianz Holdings has secured charters for two self-elevated platforms in the Middle East in deals worth a total of $300m.
Sales net Navig8 $500m Nicolas Busch-led product tanker outfit teams with Ocean Yield and Chinese shipbuilder.
Lauritzen eyes cape sale Lauritzen Bulkers has wasted little time hoisting the for sale sign above one of their last capesizes.
Gunvor sells stake in Baltic oil terminal Sold to a Russian industrialist.
Residual fuel oil demand 'continues to decrease' Fuel oil industry has 'not caught a break this year and may not for the rest of 2015', says Poten & Partners.
DNV GL: Retrofits make economic sense Even at a lower bunker price.
Contango narrows in Singapore Fuel oil markets and lack of resupply moving market.
Energy sector holds opportunities, says Singapore firm Singapore-listed entity looks to grow in sector.
Hambantota port seeks bunkering advice New arrangements coming in the next few months, say media reports.
EU funding for DFDS projects Will partly pay for scrubbers on vessels operating in ECAs.
Energy sector holds opportunties, says Singapore firm Singapore-listed entity looks to grow in sector.
Singapore: Monthly bunker sales up on year LSMGO sales tripled over the year.
Vopak's UK assets to be sold Swedish assets offloaded in June.
Dutch bank targets ship over unpaid bunker bills Detained ship belongs to Middle East shipping company.
Bahri vessel targeted for OW Bunker claims ING seeking $5.77 million in unpaid bunker claims, says report.
Singapore firm to expand beyond energy trading business Company rebrands and hires new CEO as part of process.
Demant: Would we do it again? No! Bunker Holding has benefitted from OW's demise but wants to make sure it does not make the same mistakes.
New facility starts supply of bunker, fuel treatment devices Device claims to increase fuel efficiency.
Chinese firm confirms fuel-efficient tanker orders Vessels acquired from Greece-based company.
New barge for Energy Petrol 'We achieved 20% growth in first half of 2015,' says Turkish supplier.
BC Ferries: Construction of third LNG-fuelled ferry underway Steel cutting has already taken place, says firm.
Unique fuel-saving tech 'not easy' to introduce Due to conservative nature of shipping industry, says CEO.
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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