Finland and Estonia apply for LNG pipeline funding Baltic neighbours Estonia and Finland have applied jointly for up to 75% of the cost of a submarine natural gas carrying pipeline linking the two. This evens out spikes in supply and demand during peak periods such as winter - mainly for Finland. The Balticconnector, as the project has been named,
Port of Hamilton secures new grain terminal The Port of Hamilton has secured a new 50,000 tonne grain terminal that will ship Ontario-grown grains and oilseeds to export terminals on the St. Lawrence River. The facility will be built by G3 Canada Ltd, the company formed to take over the former Canadian Wheat Board. The new facility is part
PIL back for more box ships Singapore-based Pacific International Lines (PIL) has returned to Chinese shipyard Jiangsu Newyangzi Shipbuilding, a subsidiary of Singapore-listed Yangzijiang Shipbuilding, with an order for eight container ships. The 11,800 teu vessels are scheduled for delivery from June 2018 until August 2018.
Thordon Bearings wins milestone deal Canada-based Thordon Bearings has signed a landmark US contract - its first major container ship deal and the largest commercial ship propeller shafts to be fitted with its COMPAC seawater-lubricated propeller shaft bearings. They will be supplied for two container ships under construction at Aker
MOL posts gains from charter terminations Mitsui OSK Lines (MOL) said on 14 October that it had realised some net gains after cancelling some charter contracts for dry bulk carriers. Japan's biggest shipowner was responding to media reports that it would incur an operating loss of JPY5 billion (USD41.7 million) as a result of the financial
Korea Line seals six-year TC contract with Hyundai Glovis South Korean shipping company Korea Line Corporation (KLC) said on 14 October that it had signed a long-term timecharter (TC) contract with compatriot logistics firm Hyundai Glovis, part of Hyundai Motor Group. Effective immediately, the KRW31.246 billion (USD27.25 million) contract will last until
China to drive box trade 'for years to come' China will remain the driving force in global container trades for years to come, with scant possibility of another region emerging to challenge its dominant position, according to a senior industry-watcher. "There is no doubt that China is slowing down, but Asia is responsible for 50% of all
Jinzhou Port to go for shareholding change Shanghai-listed Jinzhou Port has halted trading as its controlling shareholder Dalian Port Group is planning for a major restructuring deal involving a shareholding change in the company. Currently, the China-based port operator Dalian Port Group owns about 20% equity interest in Jinzhou Port and
Singapore's bunker sales up 9%, throughput falls 13.6% Singapore's bunker sales saw an increase of 9% year-on-year to 3.8 million tonnes for September 2015, according to preliminary data from the Maritime and Port Authority of Singapore (MPA). The world's largest bunkering hub's September 2015 sales result marked the fourth highest ever monthly sales
Rich countries call for IMO emissions accountability In the run-up to the UN's climate change conference in December, an international economic organisation representing developed nations has called for drastic measures to curb shipping emissions. The International Transport Forum (ITF), the transport division of the Organisation for Economic
K+N lifts profits despite market headwinds Leading global ocean freight forwarder Kuehne + Nagel (K+N) today reported a substantial increase in earnings for the first nine months despite lacklustre cargo volumes and heightened exchange rate volatility. The Swiss-based group's gross profit (turnover less duties, carrier rates, and
Burgeoning US economy drives transpacific traffic Third consecutive month of double-digit growth in Asian imports to the US
UN Security Council resolution targets human trafficking by sea States authorised to intercept, inspect and seize migrant smuggling ships
Singapore maritime veteran to be honoured SMF chief David Chin wins recognition at the upcoming Lloyd's List Asia Awards
Crew from detained Russian product tanker released Crew had been held in Libya on suspicion of smuggling oil
Long Beach volumes bounce back West coast port heading for pre-recession throughput figures as shippers return
View from the Bridge: Andrey Naraevskiy Ruscon director on how Russia's economy is struggling to cope with weak oil prices, a devalued rouble, trade sanctions ... and a shortage of containers
Naraevskiy on fuelling up Low bunker prices an added draw at Russian ports
Interpleader action may offer way out of double demands for OW receivables, says American Club But the procedure is only possible under US jurisdiction
Korean shipbuilders aim to standardise offshore design Big three South Korean shipbuilders aim to complete the standardisation project by the first half of 2016
Shipper Survey reveals customers blame megaships for unstable global container trades The results of the annual Containerisation International Shipper Sentiment Survey are out and make grim reading for the operators of container lines
Korea Line enters car carrier market Dry bulk owner charters first PCTC from Hyundai Glovis
Mitsui OSK announces key corporate governance efforts Among the measures, the president selection process will be reformed
ICS challenges call for $25 per tonne CO2 levy Rhetoric ahead of Paris climate talks heats up as shipping industry brands proposed carbon price as excessive
Hanjin Shipping mulls Busan terminal stake sale Company has not set a firm date for when the sale could take place
Singapore bunker sales volume drops 10% in September Levels are still about 9.3% higher year on year
Singapore box throughput drops in first nine months September containers down 13.6% from a year earlier
Genco Shipping's fourth ultramax newbuilding on spot market The vessel is the last of four ultramax ships delivered to the company under Baltic Trading's previous deals with Yangfan Group
Samudera Indonesia wins $70m LNG shipping deal The company aims to commence LNG supplying in 2016
China's oil product exports highest in over 2.5 years Product tanker companies can expect strong China diesel exports to continue amid slowing local demand
Diana Shipping charters out panamax bulker to Cargill Contract to generate $2.4m in gross revenue for the minimum scheduled time charter period
Panama Canal hits tonnage record Containerships registered the highest total tonnage passing through the canal
CMA CGM and Marfret add New Zealand to Australia and Europe container route The new international service will transport New Zealand goods directly to the Americas and Europe
Modest intermodal gains not enough to offset third-quarter CSX loss CSX Transportation won back cargo lost to over-the-road competitors and made modest intermodal gains in the third quarter, but it was still not enough to stem the flow of money out of the company. Over the past three months, the Jacksonville, Florida-based railway has been battered by diminishing demand for coal,...
LTL pricing specialist SMC3 buys Transportation Costing Group SMC3, best known for its less-than-truckload pricing technology and supply-chain conferences, extended reach into the truckload market by acquiring Transportation Costing Group. The deal gives SMC3 activity-based cost modeling software and profitability management tools for both LTL and truckload carriers that complement SMC3's software line, which includes CzarLite pricing software and...
Hapag-Lloyd scales back size of planned IPO Hapag-Lloyd is scaling back plans for its initial public offering, and now plans to seek $300 million instead of the $500 million as it had previously announced. The world's fifth-largest carrier by container-carrying capacity is one of several German companies that have had to scale back their capital-raising efforts in an...
Mobile plans refrigerated warehouse for containerized poultry exports The Port of Mobile, Alabama, is working to build a near-dock refrigerated warehouse for transloading poultry into containers for export. "We think the business is there. Alabama is the second-largest producer of poultry in the U.S.," Jimmy Lyons, CEO of the Alabama State Port Authority, said in an interview with JOC.com. Just...
Lower surcharges cut J.B. Hunt revenue, but profit, volume rise J.B. Hunt Transport Services hauled more freight on road and rail in the third quarter than a year ago, charged higher rates for intermodal and trucking services, and added capacity to meet shipper demand. Even so, total revenue shrank year-over-year, thanks to lower fuel surcharges. The third quarter was the second quarter...
Mark Yeager resigns from Hub Group board Mark Yeager has stepped down from Hub Group's board, two months after resigning from his post as chief operating officer of the freight-shipping firm, according to the company. Yeager's resignation may yet add another element of instability to the firm, whose intermodal business has struggled over the past year thanks in...
Resin pellets to be transloaded at South Carolina facility Sea Pac LLC is building a 1.5 million-square-foot facility that the South Carolina Ports Authority hopes will help Charleston compete for plastic resin exports, a market that Houston now dominates. Sea Pac LLC will invest $32 million in a new bulk-to-containers transloading center 20 miles from the port, the South Carolina Department of Commerce said. The transloading operation...
Moody's, S&P reaffirm South Carolina port bond ratings Two financial ratings services have affirmed their debt ratings for the South Carolina Ports Authority, which is preparing to issue $290 million in revenue bonds for container terminal upgrades and other capital projects. Moody's Investors Service and Standard & Poor's Ratings Services 's cited a citing a growing regional economy, significant...
Virginia port posts profit on higher volume The Port of Virginia posted its its busiest September on record for container volume, and CEO John Reinhart said a return to operating profit shows the port has "turned the corner" after years of losses. The port handled 215,520 20-foot-equivalent units of full and empty containers in September, a year-over-year increase...
Antwerp container volume up despite Asia-Europe slump LONDON - Antwerp's container traffic grew 8 percent in the first nine months of the year as the Belgian port boosted traffic on the troubled Asia-Europe route. Europe's second-largest container hub handled 7.265 million twenty-foot-equivalent units compared with 6.73 million TEUs in the first three quarters of 2014. The Antwerp Port Authority...
China will be global trade linchpin for forseeable future China will remain the driving force in global container trades for years to come with scant possibility of an alternative region emerging to challenge its dominant position. "There is no doubt that China is slowing down, but Asia is responsible for 50 percent of all containerized ocean exports and China's exports...
Idle fleet growing at fastest pace since 2009 LONDON - The fleet of idle container ships over 500 twenty-foot equivalent units grew by 107,000 twenty-foot-equivalent unitss to 780, 000 TEUs in the past two weeks and is set to increase going into the slack cargo season, Alphaliner said. There were 245 vessels without work on Oct. 5, up from...
APL adds call to New Zealand Express service Container carrier APL announced it is upgrading its New Zealand Express, or NZE, service by adding a direct northbound call at Brisbane, Australia. The change will take effect with the arrival of the Kota Lestari, voyage 033, at Port Klang on Nov. 23, the Singapore-based company said in a notice to...
Alliances cause members to over-order capacity, analyst says SHENZHEN - Container shipping alliances are causing more capacity to be generated than they are able to fill, Rod Riseborough, CEO of Container Trades Statistics, told delegates at JOC's TPM Asia conference in Shenzhen Wednesday. "No one wants to build a ship of less than 13,000 TEU, but in an alliance...
ZIM CEO: US East Coast port volume to gain parity with West Coast by 2020 SHENZHEN, China - U.S. East Coast ports will increase their share of containerized trade from 35 percent to roughly half by 2020, putting them on parity with the West Coast, according to Rafi Danieli, CEO and president of Zim Integrated Shipping Services. In a keynote address to approximately 600 attendees of...
Savannah builds on reefer growth with first shipment of Latin America citrus imports The first cold-treated citrus imports from Latin America have arrived at the port of Savannah under a U.S. pilot program that aims to cut logistics costs for produce shippers. It's the start of something that could be the stimulus Savannah needs to accelerate already strong overall refrigerated import growth and...
UPS said it will get holiday deliveries right this year After underestimating e-commerce delivery requirements during the 2013 holiday season, and over-committing assets during the 2014 holiday season, UPS believes it will get it right this year, said Noel Massie, president of the Southern California district at the largest U.S. transport operator. UPS has learned from the mistakes of the past...
US trucker ODFL, 3PL Mallory Alexander forge ocean-freight alliance Multimodal collaboration got a boost last week when trucking company Old Dominion Freight Line and Mallory Alexander International Logistics entered an ocean forwarding alliance. The alliance was announced while both companies participated in the JOC Inland Distribution Conference. Under the alliance, Mallory Alexander will perform all ocean freight forwarding back office...
Orders to hit tanker rates JP Morgan cut its estimates for crude tanker rates in the 2017 and 2018 on predictions that a growing newbuilding orderbook will take a bite out of earnings.
El Faro suit filed The family of a crew member on a TOTE Maritime ro-ro that sank off the Bahamas has reportedly filed a $100m lawsuit over the incident.
Merger talks 'advanced' Merger talks between China Ocean Shipping Co (Cosco Group) and China Shipping Group have reportedly reached advanced stages.
Panic to prosper More misery is needed in the dry cargo market to ensure the sector will eventually revive, a senior manager of notoriously bearish Diana Shipping told a Marine Money conference in Athens.
Hapag lowers IPO sights German carrier targets $300m windfall from listing at difficult time for global markets.
Sanfu discount for Precious Bangkok-based Precious Shipping announced this week that China's Taizhou Sanfu Shipbuilding has agreed to a $2m discount on the contract price on each of the first two of 10 super-eco ultramaxes under construction at the yard.
NAT slips on lower dividend Tanker owner's shares trade down today after a couple of pennies drop of dividend.
Antwerp volumes rise The key Belgian port of Antwerp handled 156.51m tonnes of cargo in the first nine months of 2015.
Pittas more afraid of banks Private equity will not rush to quit shipping, but lenders could be a risk, owner says.
Rasmussen leaving Ultragas Anders Rasmussen has resigned as the chief executive of Ultragas and will leave early next year.
Captain evacuated An unconscious master has been taken off his cargoship in rough seas off Italy.
Drillship heads to Senegal Australia's FAR and partners are bringing in an Ocean Rig drillship for well work off Senegal.
G3 eyes wheat terminal G3 Canada is planning a new year-round shipping terminal in Hamilton, Lake Ontario.
Evercore cuts Safe Bulkers Analyst Jonathan Chappell suggests seasonal upturn is a chance to offload dry shares.
Turkish ship barred The Paris MoU organisation of port states has banned an elderly Turkish cargoship for three months.
ASRY on the up Bahrain shipyard says volume of repair work rises 9.5% year-on-year.
Hapag-Lloyd moves quickly German container line Hapag-Lloyd's $500m IPO could be completed as early as the end of this month.
Austal clinches finance Austal is closing in on a new financing agreement of around $232m with a syndicate of four banks.
Russian crew freed Ten crew members have been released by Libya following the seizure of their tanker in a row over oil smuggling in September.
Windfall for Indian owners? Indian shipowners could be about to receive a $60bn cargo bonanza thanks to new proposed legislation.
SK Shipping seeks gas cash Korean owner SK Shipping is looking to raise $600m for its new LNG carriers.
Subsea 7 wins Egypt job Norway's Subsea 7 has triumphed in a tender to install pipelines in Egypt.
Maersk, Conti trade claims Maersk Tankers and an affiliate of Conti Reederei have filed $36m worth of claims against each other over a March collision between a chemical tanker and a supramax bulker.
Bunkers and boxes see decline Singapore has seen declines in both its bunker sales and container throughput, according to data released by the Maritime and Port Authority (MPA).
Hodeidah port 'closed' Mixed reports over access at Yemen facility following latest round of Saudi air strikes.
Global piracy declines Piracy hotspots look to have had a quieter month following recent surge in incidents.
China log imports down Slowdown in nation's economy is starting to impact other sectors within the dry cargo market.
Qatargas completes ME-GI gas fuel trials on Q-Max ship Firm calls the event a 'milestone'.
Climate change fears could cap oil price rises 'Concerns about carbon emissions and climate change have increased materially,' says BP econmist.
Singapore trader: 'There is a lot of fuel oil in the market' Singapore price indications for 380 cSt bunker material have dropped almost 7% in the last two days.
OW: Don't pay bunker suppliers, says P&I club Instead, take the interpleader route if deal was in US.
'Overcapacity crisis' in container shipping sector The size of the idled containership fleet has risen by 450,000 TEUs in the last three months.
China: State support leads way on LNG bunkering To make fuel more acceptable in the future.
Classification societies approval Bestobell valves Firm obtains full type approvals from 'big four', it says.
Ferries adopt fuel usage tracking technology Which can reduce vessel emissions.
New hire at OceanConnect Darrell Cardoza joins US team.
Singapore-flagged bunker tanker goes for auction Bunkers and cargo to be sold together.
Italian court rejects ship arrest case Development relates to OW Bunker.
Wartsila investigates ultra slow steaming with unmanned ships Single digit speeds will be explored.
Singapore-flagged bunker tanker to face auction Bunkers and cargo to be sold together, showed documents from the Sheriff's office.
Venice court rejects ship arrest case by supplier Development relates to OW Bunker.
Global Vision Bunkers hires staff New addition is a former Tramp Oil director.
Bahri posts quarterly profit Lower bunker costs support bottom line.
Wartsila explores unmanned ultra slow steaming concept Aim is to help customers reduce operational cost, says firm.
Global Vision Bunkers welcomes new staff New addition is a former Director at Tramp Oil.
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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