Keppel Singmarine wins order for ice-class MPV Singapore shipbuilder Keppel Singmarine, a subsidiary of Keppel Offshore & Marine, has won an order for an ice-class multi-purpose vessel. The vessel order, received from New Orient Marine, a subsidiary of Luxembourg-based Maritime Construction Services SA (Maritime Construction Services), is for
CSSC delivers its biggest VLGCs Two of the largest tankers ever built in China were delivered on Tuesday. They represent the first part of an order of four 83,000m³ very large gas carriers designed and built by China State Shipbuilding Corporation (CSSC) for tanker operator Frontline. The vessels were ordered in 2012 by
Ezra delays plans to list its subsea unit on US market Singapore-listed offshore services provider, Ezra Holdings (Ezra) has decided to put on hold its plans for a market listing of its subsea services business unit in the United States, citing unfavourable market conditions. "Given where the markets are, we have effectively put that on hold," said
Balkan ports star in Adriatic boom The two Balkan ports in the North Adriatic Ports Association (NAPA) group were the star performers with regards to the region's container traffic throughput levels in 2014. The Croatian port of Rijeka grew by 17% in 2014, albeit from a lower base than the other three member ports, handling
COSCOL profits up 491% y/y in 2014 Shanghai-listed COSCO Shipping (COSCOL), the cargo vessel operating unit within the COSCO Group, said today that its profits shot up 491% year on year (y/y) to CNY193M ($31M) in 2014. Revenues rose 3% y/y to CYN 7.7Bn during the period, a flash financial report from COSCOL said today. On 30
Petra Energy disposes of 51% stake in Bumi Subsea Malaysia-listed offshore marine support services provider, Petra Energy Berhad has completed its disposal of its 51% equity interest in an offshore engineering company, Bumi Subsea Sdn Bhd (BSSB) for MYR0.43M ($0.12M). The proceeds from the disposal will be utilised to finance Petra Energy's
HHI merges offshore and plant divisions South Korea's Hyundai HI (HHI), the world's biggest shipbuilder, announced today that its loss-making industrial plant and engineering division would be subsumed by HHI's offshore division. "It is hoped that through the amalgamation of the divisions, we can achieve cost reductions through bulk
EMIC hopeful of a recovery in bulk shipping The head of Taiwan's Eastern Media International Corp (EMIC) has stated that bulk shipping has reached its lowest level in terms of performance in 2014 and as a result 2015 may be a year which will see better performance in the sector. The Taipei-listed warehousing and transportation provider
Philippines ports stay open during papal visit The Philippine Ports Authority (PPA) has confirmed that ports throughout the country will remain open for the papal visit which starts today. Pope Francis is scheduled to visit Asia's largest Catholic country until 19 January. Previously, PPA had urged shippers to move cargoes ahead of the visit
EATECH secures a charter contract worth $6.87M Malaysia-listed logistics provider and ship manager EA Technique (EATECH) has secured a bareboat charter contract with logistics services provider, Classic Marine & Services for the provision of one fast support vessel. The contract is valued at an amount of approximately MYR24.64M ($6.87M). EATECH
Sete Brasil may renegotiate payment on orders PETROBRAS subsidiary Sete Brasil, which has run into financial trouble, may seek to negotiate payment terms for rigs ordered at Singapore's rig builders Keppel and Sembcorp Marine, said an analyst. Sete Brasil, which is chartering 29 ultra-deepwater drilling rigs to Petrobras at a cost of $25.5Bn,
Chinese shipyard new orders down 14.2% y/y Chinese shipyards saw a decline in new ship orders last year compared with 2013, according to statistics released yesterday by China's Ministry of Industry and Information Technology. New orders fell by 14.2% to 59.95M dwt for the whole of 2014, with a slump seen at the end of the year.
Indonesia remains ship-attack hotspot Piracy incidents are at their lowest level for eight years, but ship hijackings almost doubled between 2013 and 2014, the International Maritime Bureau (IMB) has revealed in its end-of-year report. The overall reduction is largely attributable to the continuing suppression of Somali piracy.
MOL Express pulled free Mitsui OSK Lines-operated container ship, MOL Express, which ran aground on 11 January, has been pulled free. MOL, Japan's biggest ship owner, said the ship, which it chartered from Seaspan, was pulled free by tugboats at 10.55hrs Japan time yesterday. MOL said, "As soon as the necessary
Syriza eyes bigger contribution from Greek shipping Poll-leading leftists favour an independent shipping ministry but other proposals may worry shipowners
CIT's Engh predicts wet and dry consolidation Private equity exits may drive process, says shipping banker
Product tankers hold fast to steady earnings Stable market at the moment for product tanker owners with earnings hovering in the $20,000s per day
Contship reports solid box growth for 2014 Record handling figures at Eurogate Tanger and La Spezia spur volume growth
Big year for Fredriksen's tankers as merger is on the cards Frontline and Frontline 2012 likely to come together this year as tanker shipping embarks on confident new voyage in 2015, though obstacles exist
Aronnax: Fuel-saving technology uptake research could paint true picture of owners' drive for change UCL Energy Institute's look at how interested owners are in fuel-saving technology may be very revealing
Prince Rupert sees double-digit box growth Canadian port continues to grab market share from North American rivals
McCain renews call for abolition of protectionist Jones Act US senator files amendment to Merchant Marine Act in hope of liberalising country's cabotage law
Jinhui issues profit warning and presents challenging outlook for its sector Hong Kong-based dry bulk operator may take an impairment on the value of some of its ships for 2014
China's New Times Shipbuilding put on watch for downgrade Another white-listed shipyard faces credit queries in the new year
Cosco Shipping chairman steps down as unit reports profit growth due to subsidies Ye Weilong's resignation comes amid a company expansion and persistent debt pressures
MOL Express refloated in Japan Salvage experts rescue the 4,600 teu vessel three days after it ran aground in Tateyama Harbour
New Panama Canal fee structure to benefit neo-panamax boxships Panamax fleet set to see transit costs increase unless volume commitments can be met
Shipping veteran says LA-LB congestion 'will not go away' A veteran shipping executive says U.S. West Coast port problems are structural and "will not go away" and that as a result beneficial cargo owners should add three weeks to trans-Pacific import lead times to accommodate what will become chronic congestion. Dan Gardner, a longtime executive with third-party logistics firms and...
PSA sells stake in Kolkata, India container terminal PSA International has divested its entire stake in a container terminal facility at India's Port of Kolkata. The Singapore-based company, through a local entity, owned a 49 percent stake in ABG Kolkata Container Terminal operated by domestic infrastructure group ABG Infralogistics Ltd. ABG, in a recent advisory to the Bombay Stock Exchange,...
Carl D'Emilio, president of Advent Intermodal, dies Carl D'Emilio, a well-liked and respected leader in information systems serving marine terminals, port communities and intermodal, passed away on Tuesday after a long illness. He was 46. The president of Advent Intermodal, an information technology company serving the marine terminal and intermodal industries, D'Emilio built his career on a foundation...
DHL Express opens logistics facility in growing northern India DHL Express has opened a new distribution and consolidation center in Chandigarh, near Delhi, to cater to the growing trade demand in the northern India region. "Through the service centre facility, we are strengthening our infrastructure and capabilities to support our customers' growing business. We will now be able to move...
Wilhelmshaven's troubled Jade Weser Port set for Maersk boost Wilhelmshaven's bid to shake off its white elephant tag is set to gather traction in the coming weeks amid reports Maersk Line is about to bring four regular short sea services to Germany's only deepwater port. The port, which failed to attract any scheduled liner calls since opening in September 2012,...
US Rep. Hahn: West Coast employers engaging in "nighttime lockout" WASHINGTON - Rep. Janice Hahn said Los Angeles-Long Beach marine terminal operators' ending of night shifts equates to a "nighttime lockout" of dockworkers. She urged employers to "not act unilaterally and hurt port operations." The statement from Hahn, a Democrat from Southern California, lends credence to many shippers' fears that increasingly acrimonious...
Frankfurt air freight growth lags rivals Frankfurt airport's freight traffic increased just 1.7 percent in 2014, lagging growth at its main European rivals, as pilots at Lufthansa, its biggest customer, staged nine strikes through the year. Europe's largest air freight hub closed the year with throughput of 2.165 million metric tons of cargo last year after a...
Drewry: More container ships are arriving late Container ships on major east-west routes arrived off-schedule 42 percent of the time and were late more than half the time on trans-Pacific and trans-Atlantic routes, according to Drewry Maritime Research. Drewry's monthly Carrier Performance Insight reported on-time performance for Asia-Europe, trans-Pacific and trans-Atlantic trade routes dropped to 58 percent in...
Cass reports US shipment volumes up 4 percent from December 2013 U.S. freight volumes finished last year 4 percent higher than the previous year, despite a seasonal dip toward the end of the holiday shipping season. In December, U.S. freight shipments and expenditures both fell more than 6 percent, according to the Cass Freight Index. However, year-end surface transport shipping volumes were...
Transportation funding: It's not all doom and gloom Much has been said about the growing infrastructure crisis and increasing traffic congestion occurring across the United States. The stark facts are that overall vehicle miles traveled have increased by almost 50 percent since 1990, while additional roadway lane miles have grown by only 6.8 percent. We also have more...
McCain stirs up critics with latest bid to repeal Jones Act Sen. John McCain, R-Ariz., has filed an amendment to repeal the Jones Act, which requires U.S. domestic waterborne cargo to be shipped in U.S.-flag ships owned and operated by Americans. U.S.-flag interests including the American Maritime Partnership, maritime unions and the Navy League quickly issued statements opposing McCain's proposed amendment to...
Footwear industry warns of 'catastrophe' if US West Coast ports shut down Top U.S. port gateways for footwear imports.HONG KONG - A U.S. West Coast port lock out would be "a catastrophe beyond belief" for the footwear industry that imports the vast majority of its products through the terminals at Los Angeles-Long Beach, said Matt Priest, president of the Footwear Distributors...
Strong year for Cathay as cargo tonnage outstrips capacity growth HONG KONG - Cathay Pacific and its sister airline Dragonair carried 1.72 million tons of cargo during 2014, a 12 percent increase over the previous year as the strong second half performance continued into December. The all-important supply-demand balance was strongly weighted in the airlines' favor, with capacity growing 10.4 percent...
CSX: Lower fuel costs for trucking won't stop intermodal growth CSX Transportation doesn't think lower fuel prices for over-the-road trucking will derail its growing intermodal business. In fact, the railroad sees just the opposite, with executives telling investors on Wednesday to expect strong intermodal volume growth and "a very positive trend" in pricing. That's because motor carriers can't fill enough truck...
Multi-modal models needed for future US port funding, execs say Transportation executives dependent on seaports meeting today in Long Beach agreed that a multi-modal planning and lobbying effort is needed to develop and fund waterside and landside capital projects at U.S. seaports. Representatives of the various transportation modes who were called together by the American Association of Port Authorities to define...
Maritime piracy falls to eight-year low Maritime piracy fell to an eight-year low in 2014 as a continuing decline in attacks off Somalia offset a surge in ship hijackings in Asian waters. Attacks against small tankers off South East Asian coasts saw global hijackings rise to 21 in 2014 from 12 in 2013, according to the International...
Federal Reserve report notes US West Coast port delay impact Worsening congestion at Southern California ports is starting to show up in the Federal Reserve's reports on economic activity across the nation. U.S. West Coast port issues received passing mention in the latest edition of Fed's Beige Book, an eight-times-a-year compendium of anecdotal reports from the central bank's 12 regional districts....
ORIG lands financing Ocean Rig has secured a syndicated loan that will be used to finance a drillship under construction at Samsung Heavy Industries.
Ardmore sitting pretty Ardmore Shipping today kept its dividend unchanged for the fourth quarter amid a positive assessment of its earnings potential from Clarksons Capital Markets.
KNOT fixes newbuilding Knutsen NYK Offshore Tankers (KNOT) has secured a long-term charter for one of its newbuildings due for delivery in the first quarter of 2017.
Kayne in at Hoegh MLP Kayne Andersen Capital has added another shipping MLP to its portfolio with a near $20m investment in Hoegh LNG Partners.
New chief for Shipowners' The directors of the Shipowners' Club have named Simon Swallow as the next chief executive in succession to Charles Hume.
Families sue UASC Families of the fishermen that lost their lives in a collision with a boxship owned by United Arab Shipping Company (UASC) have filed legal claims against the shipowner.
Eco still matters Energy-saving technology is still important to shipowners despite crude price plunges, according to bulker owner Newport Shipping.
MISC sale flops Malaysian shipowner MISC has seen the planned sale of its logistics operation fail.
Load lightened Part of a cargo of salt has been dumped from a CSL bulker aground off Canada ahead of a bid to refloat it.
Bulk Jupiter sank fast It took only a few minutes for Bulk Jupiter to develop a heavy list and sink shortly afterwards, according to the only survivor, the vessel's chief cook.
Cargoship hit by fire Crew have been evacuated from a cargoship struck by a huge fire at the port of Iskenderun in Turkey.
VLGCs far from broken Danske Bank has kicked off coverage of Aurora LPG with a buy rating amid the belief the VLGC success story is far from over.
Daiichi lines up sales Daiichi Chuo Kisen Kaisha is revisiting efforts to offload four handysize bulkers as part of a long-running sales drive.
Nautilus hails safety win Crew union Nautilus International has welcomed a decision by the UK to scrap a plan easing rules on safety equipment carried by ro-paxes.
MCS in ice-class order Luxembourg-based Maritime Construction Services (MCS) has placed an order for an ice-class multi-purpose (MPP) vessel at Keppel Singmarine yard.
ACM boost for Braemar Braemar Shipping Services says its shipbroking performance has improved "significantly" as anticipated after the merger with ACM last year.
Fund buys into Coscol A Chinese fund has become the first major private investor in a state-owned shipowner with a move for Cosco Shipping (Coscol) shares.
Condor sells duo Channel Islands operator Condor Ferries has sold two 1990s-built fast ferries into Greece as a replacement ship is brought in.
Casualty reaches Gladstone A general cargo vessel disabled off the Great Barrier Reef has arrived in a port in Queensland, Australia.
Jinhui in profit warning Jinhui Shipping and Transportation says it expects to report a net loss for the financial year, the company said Thursday.
MOL Express refloated Seaspan has confirmed that the 4,600-teu MOL Express (built 2003) was successfully refloated on Wednesday.
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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