Alang breakers' certification fuels flooring debate ClassNK's recent certification of two shipbreaking yards in Alang has drawn flak from recycling watchdogs, which question the effectiveness of the yards' use of impermeable flooring. While the Japanese classification society told IHS Maritime that impermeable flooring is a "key" criterion for
Naples law conference tackles late payment dilemma Participants in the Shipping and the Law conference have explored a legal dispute in which an owner wants to end a charterer's contact and claim damages over being paid a minute late. The case, which will be presented to London's Court of Appeals next June, was presented to attendees at the event
Why maritime conventions get lost in translation Maritime lawyers attending the Shipping and the Law conference in Naples have been alerted to how shipping conventions can suffer from mistranslation. While international treaties have "proliferated" since the Second World War and often impact shipping, they must "be implemented properly", said
Rotterdam outpaced by Antwerp in box growth Container traffic growth at the leading European cargo port, Rotterdam, lagged heavily behind that of Belgian rival Antwerp during the first nine months of 2015. Rotterdam's container throughput increased just 1% to 9.30 million teu during the first three quarters, while Antwerp's rose a buoyant 8%
Japanese ports' container trade set to slip Japanese ports' international container trade is set to shrink further this year, according to Nittsu Research Institute and Consulting Inc (NRIC). At eight leading Japanese ports, traffic will drop for the second straight year in fiscal 2015, which started in April, sagging 1.3% to 11.867 million
Naples welcomes shipping industry In opening the Shipping and the Law conference in Naples, Italy, a regional minister has stressed local efforts to attract maritime investment. Amedeo Lepore, minister for manufacturing and commerce for the Campania region, inaugurated the conference today (15 October). Campania is working to
HMM's Hyundai Securities stake sale hits roadblock Hyundai Merchant Marine's (HMM's) planned sale of its controlling stake in Hyundai Securities has been held up by South Korea's Financial Services Commission (FSC). The FSC is seeking clarification over a change in the composition of investors in Jabez Partners, Hyundai Securities' second-largest
Japanese yards' orders surge in September Japanese shipyards' orders rocketed 236% in September as shipowners rushed to build vessels in compliance with IMO standards taking effect from July 2016. Japan Ship Exporters Association (JSEA) members' yards won 40 orders totalling 1,525,550 gt in the month, up from 12 orders for 453,970 gt in
Japan's coal imports forecast to withstand nuclear revival Japan's coal imports for power generation are unlikely to decline even if the country's nuclear plants return online as planned, according to Banchero Costa. A recent report from the Genoa-based ship agency predicts that pollution-cutting technologies could even help coal squeeze out other fossil
COSCO and Sevan Drilling agree delay in rig delivery Chinese shipbuilder COSCO has delayed delivery of a cylindrical ultra-deepwater drilling rig by several weeks. The delay, from 15 October to 1 November 2015, was agreed between COSCO and Norway-headquartered drilling contractor Sevan Drilling, so both parties could negotiate on the first six-month
Malaysian dredgers help catch sand thieves In a bid to curb thefts of sand from along the Malaysian coastline at Selangor, the Selangor Water Management Authority (LUAS) has enlisted the help of licenced dredgers. Norfaezah Shamsuddin, coastal section head of LUAS, explained that gathering information from dredgers legally transporting sand
Hapag slashes IPO target Container line Hapag-Lloyd has scaled back its initial public offering (IPO) on the German stock exchange amid bleak market sentiment. The world's fifth-largest container carrier now aims to generate about USD300 million in its IPO until 30 October, down from an earlier goal of about USD500
Supply chain companies urged to change insular mindset Logistics and supply chain companies have been told that the biggest challenge the industry faces is their reluctance to collaborate and share data for the benefit of the whole chain. "We need to change the industry's mindset about costs," Hugh Williams, MD of Hughenden Consulting, told a workshop
Supply chain issues highlighted as cause of port congestion The problem of port congestion cannot be solely attributed to megaships and should be addressed through better industry collaboration and behavioural change across the supply chain, a global consultant in the container industry has claimed. "Severe peaks existed long before ships exceeded 10,000
Precious Shipping receives discounts on Sanfu vessels Thailand's Precious Shipping has reached settlement agreements with China's Sanfu Ship Engineering that will save it approximately USD4 million over two soon-to-be-delivered vessels, the dry bulker has said in a Thailand stock exchange filing. Under the agreement, contract price for the two
Rena salvage hearings conclude with acrimony Hearings on the application for Rena remains to be left on New Zealand's Astrolabe Reef off the port of Tauranga concluded on 9 October, with lawyers representing the Crown and shipowner at odds. The New Zealand Government has opposed the application by The Astrolabe Community Trust representing
Vard issues profit warning Singapore-listed shipbuilder Vard Holdings has issued a profit warning on its financial results for the third quarter that ended in September and full year ending on 31 December. The Norway-headquartered company is due to announce its third quarter result on 11 November 2015 before market opens,
Listed units of Cosco and CSG extend share trading suspension Unveiling of merger plan is expected in November
Concordia Maritime takes delivery of second 50,000 dwt tanker 50,000 dwt vessel will be discharged at a European port at the beginning of December
Farstad loses Petrobras charter PSV Far Strider is victim of blocking in Brazil
Shipping club deals could fall foul of EU law Syndicated loans in Brussels firing line even if they benefit clients
New Suez Canal will save owners $200m Alliances 2M and Ocean Three among big beneficiaries, says shipping banker
Shipping 'needs white knight fund' Prosperous owners should help struggling companies in return for upside stake, says lawyer
Window of opportunity for shipping bond finance Vessel lifetimes good match for long-term investors
Shipping treaty implementation remains uneven Quest for uniformity is uphill fight, says former IOPCF director
Mitropoulos hails shipping industry as phoenix Former IMO secretary-general upbeat on industry prospects
A volatile world NYK's Jeremy Nixon on the struggles and opportunities facing global liner operators
Lithuania's Litgas looks to re-export LNG Supplier has surplus gas supplies after fall in consumption
Singapore's 2014 maritime incident rate lowest ever says MPA Port authority has a responsibility to focus on navigational safety
Well worth the wait Authority administrator Jorge Quijano on the opening of the Panama Canal's much-anticipated third set of locks looms
Vard issues profit warning for third quarter Investors warned Brazilian yard troubles will weigh on results
Mitsui OSK expects first half results to miss forecasts Expectations revised down on losses from bulk operator Daiichi Chuo Kisen Kaisha
Bahri reports 501% jump in third quarter net profit Surge in net profit comes on the back of a merger completion, stronger earnings at an affiliate and lower bunker fuel costs
SK Shipping to raise $600m for new LNG carriers New ships will add to SK Shipping's four LNG carriers currently under construction
Courage Marine announces completion of share transfers Key company directors step down as part of the agreement to make way for new blood
China bulker operator urges Beijing to regulate excess ports charges Chinese port operators are also facing industry pressure to cut service fees
CMA CGM adds fruit and vegetable export service routes to Morocco Route will link Morocco to Russia, North America, Europe, the Middle East and Africa
Hapag-Lloyd resizes share offering to $410m Shares will be offered to the public between October 15-27 with a target price range of €23- '29 per share
First lawsuit filed in Florida against operator and master of El Faro Lawsuit will seek $100m in damages for the wrongful death of a crew member
Iran reveals its fleet expansion shopping list Newbuildings to be financed through funds said to exceed $120bn frozen internationally due to sanctions
How truck capacity went from 'crunch' to 'calm' A year ago, U.S. shippers worried about a truck "capacity crunch" as the economy expanded rapidly, freight demand increased and the driver pool appeared ready to dry up. Today, those same shippers are enjoying a "capacity calm." Truck capacity may not be abundant, but it is adequate, shippers said at the...
Whitepaper: Port of NY and NJ Inaugurates TIPS System Inportant!: The Terminal Information Portal System, or TIPS, will make your working day easier. The first system of its kind in the United States, TIPS was developed by Sustainable Terminals Services Inc. (STS), a nonprofit company created by a consortium of port terminal operators. The tool compiles information from all...
China's green port push has parallels abroad When Presidents Xi Jinping and Barack Obama signed a new climate agreement in September, they took a critical step in bilateral cooperation to combat global climate change. The two of us were recently invited to China to share experiences-in the United States and Holland, respectively-in cleaning up air pollution at...
Baltimore's August TEU volume sets one-month record at port The Port of Baltimore handled a record 86,149 twenty-foot-equivalent units of total container volume in August, continuing a strong run that has produced the highest three-month volume of total containers, full TEUs and full import TEUs in the port's history. August volume of total containers, including empties, rose 12.6 percent year-over-year...
Los Angeles port volume slips Total container volume at the Port of Los Angeles declined 5.8 percent in September compared to the same month last year, with imports down 9.4 percent and exports declining 17.5 percent. Although Los Angeles in recent months has been regaining some of the market share it lost to East Coast...
Lineage Logistics exec outlines infrastructure, tech investments Lineage Logistics is the second-largest warehousing and logistics provider in the U.S., with 112 facilities and more than 600 million cubic feet of space. Diogo Lobo, vice president of international logistics, recently shared his perspective on where the company and cold chain logistics industry is heading and how Lineage, which...
First lawsuit filed in wake of El Faro sinking Duval County CourthouseThe family of one of the 33 crew members missing from the sunken cargo ship El Faro has filed a lawsuit seeking $100 million in damages from the owners and captain of the ship, which sank off the Bahamas during Hurricane Joaquin. The lawsuit was filed in Duval County...
Collaboration, innovative practices needed to overcome port congestion The problem of port congestion cannot be solely attributed to mega-ships and should be addressed through better industry collaboration and fundamental change across the supply chain, according to a global consultant in the container industry. While mega-ships are often blamed for causing port congestion, other factors may be just as critical,...
Arrow Trucking CEO sent to prison for fraud, tax evasion The executive at the heart of the collapse of a trucking company that left drivers stranded and freight abandoned across the country is headed to jail. A federal judge last week sentenced Doug Pielsticker, the former CEO of Arrow Trucking, to 90 months in prison for tax evasion and fraud. The...
Ukraine port traffic plummets as violence persists Port of OdessaContainer traffic at Ukrainian ports is steadily declining, reversing a previous trend of 11 to 13 percent annual growth. Violence in Ukraine and the economic stagnation that resulted has overwhelmed government efforts to facilitate trade like streamlining the customs process, reducing tariffs and removing other bureaucratic hurdles. Container traffic at...
To avert strike, India OKs incentives for dockworkers The government of India on Wednesday approved extending an earlier productivity-linked incentive scheme for port and dockworkers through the current fiscal year, which ends March 31, 2016, averting potential labor stoppages at major public ports. Labor federations representing dockworkers at major ports threatened an indefinite nationwide industrial action in the first...
Rotterdam container growth slows on China, Russia woes LONDON - Rotterdam's container volume increased just 1 percent in the first nine months of the year due to lower Chinese exports, the deteriorating Russian economy and slowing growth in emerging economies such as Brazil. Europe's top container hub handled 9.3 million twenty-foot-equivalent units in the period compared with 9.2 million...
Cosco, China Shipping keep industry guessing on merger plans SHENZHEN, China - China's two largest shipping lines continue to tease the market with cryptic filings to the Shanghai and Hong Kong stock exchanges and an extension of the trading halt that has been placed on shares since August.In the latest filing this week, Cosco, China Shipping and their listed...
China's transport initiative could boost trade up to $2.5 trillion SHENZHEN, China - China's land and maritime transport initiative linking Asia with Europe and Africa, and the countries in between, promises to add up to $2.5 trillion in trade to the country over the next decade, a Kuehne + Nagle executive said Thursday. "That's more than the value of (Chinese) exports...
Cosco-China Shipping keep industry guessing on merger plans SHENZHEN - China's two largest shipping lines continue to tease the market with cryptic filings to the Shanghai and Hong Kong stock exchanges and an extension of the trading halt that has been placed on shares since August.In the latest filing this week, Cosco, China Shipping and their listed subsidiaries...
Wave of container capacity predicted to drag down trans-Pacific rates Peter Tirschwell, left, senior director of content at IHS Maritime & Trade, interviews Ron Widdows, former NOL CEO and now part of McKinsey & Co., a global consulting firm. SHENZHEN, China - Contract freight rates on the trans-Pacific trade are going down - "probably by a lot" - as huge amounts...
Wave of capacity to drag down trans-Pacific rates, Widdows says SHENZHEN - Contract freight rates on the trans-Pacific trade are going down - "probably by a lot" - as huge amounts of capacity flood into the market, industry veteran Rod Widdows told delegates at JOC's TPM Asia conference today.The former NOL chief executive and McKinsey consultant said the influx of...
Teamsters to vote on contract with SoCal supermarket chains Employees at three major West Coast grocery chains will vote this weekend on a tentative contract between their employers and the Teamsters union. The tentative agreement covers more than 8,000 truck drivers and warehouse, dairy and manufacturing workers employed by Ralphs, Vons and Albertsons in Southern California. The International Brotherhood of Teamsters...
US freight volumes, shipper spend reverse decline in September U.S. freight volumes rose in September after declining for two months, as shipments increased 1.7 percent from August, according to the latest Cass Freight Index. Shipper spending on transportation in September also increased, rising 2.4 percent on a month-to-month basis. The increase in both measures likely reflects pre-holiday shipping and, perhaps,...
Independent truckers make more than employed counterparts, economist says A study by Southern California economist John Husing released Wednesday found that the median net earnings of independent owner-operator truck drivers in the region are substantially higher than for company drivers who work as employees of licensed motor carriers. The study probably will not end the hot debate as to whether...
Star drops newbuild Star Bulk Carriers said it will bank $5.8m after it put a leased newbuilding back in the hands of its owner.
Sorensen set for Fearnleys Kristian Sorensen departing Inge Steensland for rival Norwegian operation.
Sorensen in at Fearnleys Inge Steensland gas specialist to take over as managing director of Norwegian broker.
Samonas capesize fixed Greek owner Samonas has secured period employment for one of its capesize bulkers with mining company Angloamerican.
Offshore lay-ups hit 70 Two more anchor-handlers have been laid up in the tough North Sea offshore market.
CMP renews engine deal State-run Chinese engine manufacturer extends contract with MAN Diesel & Turbo for 10 years.
Chang scraps capesize South Korean owner the latest to weigh in a cape with demo deal in Bangladesh.
Coscol profit up 91% Shanghai-listed unit of Chinese conglomerate pushes up its Q3 profit despite a decline in revenue.
Stolt shopping for LNG newbuilds Stolt-Nielsen LNG is out shopping for up to four small newbuildings to serve a new terminal it plans to build in Sardinia.
Sea Weasel sold An anchor-handler arrested by John Fredriksen's Deep Sea Supply has fetched $6.5m at auction.
Rotterdam cools off Dutch port launches new storage facility for frozen cargo aimed at reducing shippers' costs.
Darker clouds looming JP Morgan predicted even darker clouds for the dry cargo market as it initiated coverage of six major bulker owners.
Bunker tanker on block Singapore's admiralty sheriff is auctioning off a modern bunker tanker arrested in June.
Sargeant: no new order US owner Sargeant Marine has denied it has ordered a new asphalt and bitumen tanker in China.
Miller swoops on Osprey Thomas Miller, managers of the United Kingdom Mutual Steam Ship Assurance Association, are acquiring control of the oldest of the fixed premium protection and indemnity schemes.
Greek tanker raided Almi Tankers aframax latest vessel to fall victim to robbers in Strait of Singapore.
UN: "Too few lines" United Nations thinktank concerned over effect of boxship mergers on competition.
Almi Spirit hijacking
Sulpicio to pay $5.5m A court in the Philippines has ordered Sulpicio Lines to pay compensation of $5.47m over the 2008 Princess of the Stars tragedy.
Vard in profit warning Vard Holdings has warned shareholders to expect a poor set of both third quarter and full-year financial results.
Bad weather delays salvage Rough seas are preventing salvors from working on the wreck of the general cargo vessel Flinterstar off Zeebrugge.
Lithuania eyes LNG exports Lithuanian LNG importer Litgas could be about to start re-exporting LNG bought from Statoil under new government proposals.
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