Struggle to continue for South Korea's Big Three South Korea's Big Three shipbuilders are not likely to return to the black until 2017 at the earliest, according to an industry analyst. The double blow of overcapacity in shipbuilding and the collapse in oil prices are blamed. In a report, NH Investment Securities analyst Yoo Jae-Hoon argues that
IMB urges a common worldwide information sharing taskforce Malaysia-headquartered anti-piracy agency, International Maritime Bureau (IMB) urges for a common worldwide information sharing framework to disseminate crucial details for law enforcement forces to react swiftly and decisively. "Information sharing and coordinated action between concerned coastal
Ro-ros exempted from Indian cabotage regulations India has exempted ro-ro, LNG, and project cargo vessels from cabotage regulations, opening up the coastal run to foreign vessels. The move follows intensive discussions with auto industry representatives and vehicle carriers. The relaxation was announced by the shipping ministry on 14 September.
Concordia extends charters of P-Maxes Concordia Maritime, the listed product tanker owner in the Gothenburg-based Stena sphere of companies, has extended the charters of two P-Max vessels with an undisclosed oil company by 12 months and added a third vessel in the deal for six months. A company statement said the vessels concerned were
HHI win LPG carrier order Petredec Limited has announced today that contracts have been signed with Hyundai Heavy Industries (HHI) to build up to four Panamax VLGC'S. The signed contract is for two firm 78,700 cbm LPG carriers with an option attached to build a further two vessels. Delivery of the pair is scheduled to be
Maritime losses are clear 'wake-up call' to underwriters Losses that have hit the maritime sector this year are a clear wake-up call for underwriters across the world, the chairman of the cargo committee for the International Union of Marine Insurance (IUMI) has said. Speaking at the organisation's annual conference in Berlin, Nick Derrick said the cargo
DSME gets boost from Angelicoussis Group Embattled Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has received its first orders after posting a massive loss in the second quarter of 2015 (2Q15). Maran Tankers Management, part of the Angelicoussis Group, ordered two 320,000 dwt VLCCs and two 156,000 dwt Suezmax tankers
Chinese shipyard new orders slump China's shipyards saw orders fall by 68.3% to 15.1 million dwt between January and August compared with the same period of 2014, the China National Association of Shipbuilding Industry (CANSI) said. The orderbook fell 12.1% year-on-year (y/y) to 135.1 million dwt at the end of August, or down 9.5%
Chinese ports' throughput growth slows From January to August, 30 major ports in China have handled 7.63 billion tonnes of cargo, up 2.8% year on year (y/y), but slower than the 4.8% annual growth in the previous year, showed data released by the Ministry of Transport (MOT) on 15 September. From the total, 19 coastal ports dealt with
NauticAWT plunges into loss Singapore-listed offshore engineering company NauticAWT suffered a loss of USD2.3 million for the first half of 2015, as compared with a profit of USD1.7 million recorded a year ago. The company recorded loss despite a revenue increase of USD13.9 million, up 56.7% year on year, dragged down by
China accounts for 25% of Rotterdam's container throughput Some 25% of containers handled at the Rotterdam port are from China, showed data released by Statistics Netherlands. The number of containers from China grew 9% in 2014 and the growth continued to early 2015 despite the Chinese economic downturn. China-originated containers to the port rose 18.6%
Gas bunkering first for Antwerp Sefarina is port's first seagoing vessel loaded with LNG fuel by truck
Deployment of 8,000 teu-10,000 teu ships a juggling act for carriers Relentless roll-out of ULCs has forced some difficult decisions on carriers about where to deploy their smaller newbuilds, says Drewry
Overcapacity keeps ocean hull rates soft Keep calm and be lucky, Edmondson advises
Matson - a rare US shipping success The Jones Act transpacific specialist shows that there is space in the container shipping industry for niche carriers
Former V.Ships chief Anderson joins ShipServ board New director played role in Univan merger with Anglo Eastern
IUMI sets political priorities for the year ahead Recycling and cyber security climb marine insurance agenda
Zhou joins Lloyd's List New US reporter to provide fast, accurate analysis of events, and insight into markets, as Lloyd's List strengthens its digital presence
Toyota chooses WWL for Japan-US east coast service First vehicle shipment en route to Florida
Abu Dhabi Ports container volumes rise 41% in 2015 Volumes boosted by growing polymer exports and transhipment activity
Storage risk gets insufficient consideration Tianjin blast shows what can go wrong with seemingly safe link in logistics chain
Zanzibar gets funding from China Exim Bank to build new port New port will help ease congestion in Malindi harbour
Chinese police arrest Mingde Heavy Industry boss Police apprehend company's chairman for alleged embezzlement of state property
Mercator Lines applies for a stay of proceedings in creditor court case Singapore-listed Mercator Lines attempts to stave off a creditor's move to have it placed in judicial management
MOL earns listing on Dow Jones Sustainability Indices for 13th straight year A place on the indices will attract investment interest from environmental, social and governance funds
Hyundai Heavy Industries develops CLEAN HiMSEN engine Hyundai Heavy Industries' new engine is more powerful, fuel efficient and IMO Tier III-compliant
Scorpio Bulkers buys back more shares Monaco-based Scorpio Bulkers continues its share buybacks through unit Scorpio Services
Jaxport to handle first Porsche cars in October The first Porsches will roll off at the port of Jacksonville in October after Florida used millions of dollars in incentives to lure the German automaker and its parent company, Volkswagen, away from the nearby port of Brunswick, Georgia. Jaxport in February announced it had snagged the Volkswagen account, including its...
APMT doubling Liberia terminal capacity as demand rockets Port of MonroviaExpecting a 27 percent jump in container volume for this year, APM Terminals is spending to $34.5 million over the next two years to double capacity at its facility at the Port of Monrovia, the only Liberian container gateway. Although the Ebola epidemic in 2014 and 2015 hurt the...
Toronto truck strike over alleged misclassification expands The weeklong truck drivers strike in Ontario is growing in size and continues to disrupt cargo deliveries in the greater Toronto area, according to the group of independent owner-operators behind the protests. Members of the fledgling Container Truck Association of Ontario have been picketing Toronto-area trucking terminals and rail yards for days...
Global TV shipments, US imports drop, IHS data show In terms of global shipping, the second quarter wasn't prime time for TV manufacturers. Global shipments of televisions fell 8 percent in the second quarter to 48 million units, according to IHS. That's the largest year-over-year decline since the recession squashed demand in 2009. IHS, which owns JOC.com, blamed the drop...
APMT gains toehold in Turkey with new container terminal APM Terminals hopes that the opening of its Turkish container terminal at Petkim Port,near Izmir on Turkey's west coast, in early 2016 will be just the first phase of its expansion in the country. The terminal at Petkim Port is part of the redevelopment of the existing general cargo port owned...
Canada's Dicom builds cross-border connections Montreal's Dicom Transportation Group is bridging the U.S.-Canadian border by acquiring a diverse group of U.S. companies, from last-mile delivery and truckload freight brokerage firms to one of the largest U.S. regional package carriers, Rhode Island-based Eastern Connection. The acquisition of Eastern Connection gives Dicom a parcel network on both sides...
Tiger Cool Express snags industry veterans Tiger Cool Express is making some major moves on the personnel and asset front, hiring two industry veterans to help handle the tripling of the reefer intermodal service provider's domestic equipment fleet. Former vsenior ice president of intermodal at Kansas City Southern Railway Brian Bowers has come out of retirement to...
Puerto Rico pushes for end to Jones Act in debt restructuring plan The U.S. Congress would no longer require U.S.-flag vessels to move goods between the mainland and Puerto Rico under a five-year debt restructuring plan proposed Wednesday by Puerto Rican Gov. Alejandro Garcia Padilla. The release of the plan by the commonwealth struggling with roughly $72 billion in bond debt is the...
US ports that don't invest will miss the mega-ships, Charleston port chief says CHARLESTON, SOUTH CAROLINA - The head of one of the fastest-growing ports said the days of U.S. ports gateways unwilling or unable to invest hundreds of millions of dollars in infrastructure to become a top 10 port are limited. Without major investments in deeper harbors, larger terminals, taller cranes and...
Merger indications begin to emerge as CSCL, Cosco extend trading halt HONG KONG - Shares of China Shipping Container Lines and Cosco will remain suspended on the Hong Kong and Shanghai bourses for another month as the mainland's two largest carriers continue their "robust contemplation" of material matters they have been discussing since 9 am on Aug. 10.The carriers are widely...
Aussie forwarders fuming over new freight insurance rules HONG KONG - The Australian Federation of International Forwarders has expressed concern that a change of insurance agent by the International Air Transport Association in the country is forcing its members to come up with huge bank guarantees, sometimes running into millions of dollars.Paul Golland, AFIF chairman and recently elected...
Charleston port gets federal OK to deepen channel Port of CharlestonCHARLESTON, SOUTH CAROLINA - The Army Corps of Engineers declared the Port of Charleston's deepening project to be economically and environmentally feasible on Monday, clearing the way to the project to move ahead pending the securing of needed federal and state funding. The "chief's report" increases the likelihood that...
Shippers, show some appreciation for truckers This week, Sept. 13-19, is National Truck Driver Appreciation Week. Truck drivers will be treated to company cookouts, honored for safe driving and service, and in some cases get bonuses and gifts from employers. Appreciation shouldn't stop there, however. Trucking companies, freight brokers and shippers, in particular, need to appreciate truck...
Uljanik lands livestock ship Croatian shipbuilder Uljanik has bagged an order for a new livestock carrier from Kuwait.
Dynagas ups Yamal charters to nine Dynagas has secured long-term time-charters for four of its existing LNG carriers on the back of business it has netted on five of the ice-breaking newbuildings for the Yamal LNG project.
Dynagas clinches $1.5bn Yamal deal Dynagas Holding has concluded its biggest LNG move with a deal to build five LNG carriers for the Yamal LNG project.
NewLead fixes tanker Zolotas-led owner wins improved daily rate for one of its five bitumen carriers delivered in 2014.
Seadrill rips up contract John Fredriksen's Seadrill is cancelling a new drillship on order at Hyundai Heavy Industries in Korea.
Too much confusion Too many piracy reporting centres could bring confusion and cause undesirable results, the International Maritime Bureau (IMB) has warned.
Smart wreck removed Ardent, the giant salvage alliance of Titan and Svitzer, has completed its first major project with the wreck removal of the bulk carrier Smart.
Antwerp in first LNG fill A vessel owned by Chemgas Shipping of the Netherlands has become the first ship to be bunkered with LNG in the port of Antwerp, Belgium.
Bilal adds two more Turkish leader Recep Tayyip Erdogan's son has added two more vessels to its fleet and chartered them to compatriot Palmali Shipping for 10 years.
Celestyal hires cruiseship Celestyal Cruises of Greece has hired a cruiseship from the Clipper Group as part of its home porting programme in Turkey.
MPP up for auction Vessel formerly chartered by Hansa Heavy Lift to be sold in Quebec after owner went bust.
Ultrapetrol downed South American tanker and offshore vessel company Ultrapetrol has been downgraded by Standard & Poor's (S&P) due to liquidity concerns in weak markets.
Concordia stretches deals Concordia Maritime has secured further employment for three P-MAX vessels with an international oil and gas company.
WWL wins Toyota deal WWL already carries vehicles from Japan to Europe for the manufacturer.
Veteran carrier banned The Paris MoU organisation of port states has banned a Libyan livestock carrier for three months after it failed three safety checks.
Mols bidder withdraws Mols-Linien has seen one of the two takeover bidders for the company withdraw its offer.
Petredec books VLGC duo Petrodec has returned to Hyundai Heavy Industries to order two 78,700-cbm LPG carriers with an option to build two more.
Scandlines' eco bonus Baltic ro-pax company Scandlines expects to be awarded EUR 6.3m ($7.11m) by the European Union (EU) for the installation of exhaust cleaning kits on two new ferries.
Hull back in the money A long run of hull insurance market losses has been broken but not in a way that gives underwriters grounds to break out the champagne.
Eimskip cancels boxship Iceland's Eimskip has finally cancelled a long-delayed containership newbuilding it signed for in 2011.
Ezion redeems bond Singapore-listed offshore service provider is the latest company to pay down debt.
Oakland boxes keep rising The US Port of Oakland has reported a 15% jump in container imports for August, figures released Monday show.
BLT tankers arrested Two chemical product tankers controlled by Berlian Laju Tankers (BLT) have reportedly been arrested in Singapore.
Japanese firms study biofuel-producing algae IHI Corp claims one hectare of algae can produce 137,000 litres of oil per year.
Carnival reaffirms 2020 CO2 goal Of 25% reduction against 2005 baseline.
Milestone for LNG bunkering in Antwerp Ship takes direct delivery of alternative fuel.
Promotion at KPI Bridge Oil Mohammed Yasser Marzuq recently graduated from KPI Bridge Oil's in-house Training and Development Programme.
'People struggle to sell their oil,' says Singapore-based trader Player surprised at Singapore latest bunker sales figures.
Scandlines' scrubbers secure EU funds Battery technology also part of emission reducing equipment.
India turns to shipping to relieve congestion on roads and rail Cabotage laws relaxed to allow some classes of foreign flagged ships to carry cargo between the country's ports.
Hydrogen fuel project takes shape Aimed at ship's auxiliary power systems.
Japan bunker sales up 50% month-on-month Sales at an eight month high.
NIOPDC: Iran reaping billions from bunkering activities Country sold over 6 million mt of marine fuels over the past two years.
Singapore: Fratelli to expand bunker fleet To support handling of some 200,000 mt of bunkers per month.
'Concern' over cruise ship emissions at Hobart Air monitoring equipment lacking, suggests council documents.
Singapore: Fratelli in fleet expansion plans To support handling of some 200,000 mt of bunkers per month.
HHI launches engine with 'improved' fuel-efficiency System boasts a '2% increase in fuel efficiency compared to existing H21/32 four-stroke engines'.
Cheaper fuel reducing slot cost advantage for mega-box ships Data from Drewry reveals slot cost savings benefit between bigger and smaller ships has almost halved.
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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