Taizhou Kouan yard wins eight box ships China's Taizhou Kouan Shipbuilding has secured a contract from a German owner for eight 1,400 teu container ships. Announcing the order on 16 September, the yard said the vessels would each be 153.7 m long, 27.6 m wide, 12.5 m deep, and 7.4 m in design draught. The first ship is scheduled for
MODEC wins FSO project from Maersk Oil Japanese floating production specialist MODEC said on 16 September that it is to provide a floating and storage vessel for Maersk Oil's Culzean project in the North Sea. The Culzean field is located about 233 km off the coast of Aberdeen. Maersk Oil UK operates the field jointly with JX Nippon
Japanese shipyard orders soar Orders at Japanese shipyards this August soared by 252% from a year earlier, as shipowners rushed to build ships that comply with the International Maritime Organisation's new standards. The IMO's goal-based standards, which apply to bulkers and tankers, require wider and thicker timber in the
Salvage divers complete first Sewol inspection The first stage of preliminary inspections on the capsized Sewol ferry has been completed. South Korea's Ministry of Oceans and Fisheries (MOF) said on 16 September that 50 divers have been working on the vessel since 19 August, after the salvage contract was awarded to Chinese state-owned Shanghai
Rena salvage bill second only to Costa Concordia The salvage of Rena, which ran aground on a reef off Tauranga, New Zealand, in 2011, has cost NZD500 million (USD317.2 million). This makes the container vessel the second most expensive shipwreck in history after the USD1 billion Costa Concordia salvage operation, owner Daina Shipping Co testified at hearings in Tauranga.
Marine insurers urged to get tough on maintenance skimping As shipowners and shipping firms continue struggle with a depressed maritime market, insurers have raised concerns over the temptation to reduce spending on maintenance. Speaking at the annual meeting of the International Union of Marine Insurance (IUMI) in Berlin, Simon Williams, head of marine
Order drought drives Bergen Group unit to bankruptcy Bergen Group Skarveland, a wholly owned subsidiary of the listed Bergen Group offshore and maritime solutions provider, has filed a petition for bankruptcy. The wholly owned subsidiary of the listed Bergen Group offshore and maritime solutions provider blamed the move on a lack of new orders and
Forward trading scheme completes first delivery Shanghai Shipping Freight Exchange has completed the first delivery under its dry bulk capacity forward trading scheme. On 8 September, Dato Lucky, a Handymax bulker, was delivered to Shanghai-based AMC Shipping, a nickel ores, coal, and steel carrier, at the Chinese port of Yangjiang in Guangdong.
Tanjung Offshore in deal with China's Jereh Malaysia-listed offshore services provider Tanjung Offshore has signed a collaboration agreement with China-based Yantai Jereh Petroleum to provide oil and gas services in Malaysia. Under the agreement, both parties will grant each other priority to pursue and secure opportunities in Malaysia.
CIMC first-half profit up nearly 47% Shenzhen-listed China International Marine Containers (CIMC) has posted first-half profits up by 46.7% on the same time last year. These amounted to CNY1.5 billion (USD1.13 billion) on revenue up by 1.8% year-on-year to CNY32.7 billion. In its interim report, released on 16 September, the company
SapuraKencana profit dives nearly 77% Malaysia-listed offshore services provider SapuraKencana Petroleum posted profits down by 76.6% compared with this time last year. It reported profits of MYR104.3 million (USD24.2 million) for the second quarter, ending 31 July. Despite higher revenues of MYR2.8 billion - up by 4% from MYR2.69
IUMI 2015: DNV GL plans unmanned coasters inside a decade ReVolt vessels could save $50m over 30-year lifetime, classification society argues
Diana Containerships secures new RBS loan as UK bank responds to old clients Select new business 'makes sense' even if ultimate aim is to sell portfolio, say sources
IUMI 2015: Climate change will spur natural catastrophes, insurers warned Global warming certainly anthropogenic, experts say
Shipowners warned over local fuel use requirements Current and future sulphur in fuel limits creates challenges to source accurate information and the right fuel
DP World ends US push Terminal operator will no longer pursue American acquisitions as operating costs are too high, says chairman
Braemar backs root cause analysis Incidents arise from a failure to follow best practice and implement effective corrective actions, insurers told
IUMI 2015: Deference to 'Tiger Captains' may cause casualties Filipinos culturally reluctant to challenge perceived superiors, conference is told
BW LPG sticks with fixed term contracts Thirty-two per cent of BW LPG's VLGCs will be on fixed time charter contracts in the third quarter, while 19% of its VLGC fleet will operate in the spot market
NYK takes delivery of Japan's first LNG-fuelled tug Vessel will help determine the feasibility of using liquefied gas as a marine fuel
IMB calls for global piracy reporting system Worldwide information sharing network proposed to help maritime authorities assist seafarers and make arrests more quickly
India eases cabotage laws on ro-ro vessels Move is aimed at making cargo transportation along the coastline more efficient
Cosco and China Shipping Group merger a step closer Listed units may lift share trading suspensions within a month
IUMI 2015: Offshore insurers consider oil price slide impact Prospect is 'yet another year of relentless overcapacity'
Concordia Maritime renews charter agreement with oil major Tanker shipping company secures deals for three of its shallow draft P-Max ships
FedNav and Marad win environment protection awards FedNav cites innovative ballast water treatment and clampdown on greenhouse gases, while Marad chief points to study on emissions abatement
NSW Port stops cruiseships overnight berthing at White Bay NSW acting on resident concerns, holds cruiseships from terminal pending use of low-sulphur fuel
E-commerce heating up NY-NJ industrial real estate market U.S. Northeast consumers' growing appetite for e-commerce is cooking up a "red hot" industrial real estate market around the Port of New York and New Jersey - a trend great for developers and pricey for shippers, the head of an industrial real estate trade association said Wednesday. The rise of e-commerce...
US shippers warned 'loose' truck capacity won't last INDIANAPOLIS - U.S. freight shippers enjoying an unusual period of "loose" capacity shouldn't get complacent, speakers at the 2015 FTR Transportation Conference here warned. An uptick in demand in the U.S. or disruptive events anywhere in the world could quickly tighten slack U.S. truck capacity, limiting truck supply and pushing up...
Hungary's Waberer's launches Benelux trucking subsidiary Remco van Staaijeren, business development director for Waberer's Benelux B.V. Reporting double-digit growth in the Benelux countries, Waberer's International opened a subsidiary in the Netherlands this week, the fourth Western European subsidiary the Central European-based full truckload freight hauler has established in the last two years. The new subsidiary will help the...
Hub taps board consultant, former executive as president, COO The Hub Group has tapped a consultant to its board of directors and a former executives who has filled multiple roles as president and CEO, replacing Mark Yeager who abruptly left both positions in August. Since January Donald G. Maltby has served as consultant to the intermodal services provider's board of...
FedEx raises rates, trims outlook on weak LTL demand Weak demand in the less-than-truckload market and higher-than-expected operating costs in its ground segment spurred FedEx to trim down its earnings outlook for 2016. The Memphis, Tennessee-based shipping giant posted modest gains Wednesday for the first three months of its new fiscal year. The news comes as the company is gearing...
ILA, USMX officials hopeful about 10-year contract CHARLESTON, South Carolina - Officials of the International Longshoremen's Association and United States Maritime Alliance said they're committed to trying to work out East and Gulf coast port labor contract that would extend to 2025. ILA and USMX officials will meet next week to discuss a possible seven-year extension beyond the...
Russia's AirBridgeCargo pulls further ahead of European rivals LONDON - Russia's AirBridgeCargo Airlines is pulling further ahead of its troubled European rivals as it continues to post double digit increases in traffic month after month. Traffic grew 14 percent in August from a year ago to 39,000 metric tons, taking the total for the first eight months of 2015...
AirFrance-KLM Cargo inks partnership with China Southern LONDON - Air France KLM Martinair Cargo has signed a partnership agreement with China Southern Cargo spanning the carriers' global networks. "This new partnership will give customers access to an extensive cargo network in the Asia Pacific region - where China Southern Cargo occupies a strategic position - and in Europe,...
Russian economic downturn blamed for flat Asia-Europe peak season LONDON- Russia's economic downturn is largely responsible for a flat third quarter peak season on the Asia-North Europe trade, forcing ocean carriers to apply more permanent reductions in capacity, according to Drewry Maritime Research. The "marked" fall in demand in Russia for Asian goods is a "major" contributory factor in the...
Brazil heralds nearly $2 billion in ag export contracts Port of SantosAmid shaky Brazilian business confidence, the country's agriculture and livestock minister is trumpeting the near completion of dozens of contracts worth nearly $2 billion with importers in 14 countries. Abreu, who was previously president of the powerful National Confederation of Agriculture and Livestock before becoming minister in January, declared...
Eastman Chemical cuts truck trips via Greer inland port CHARLESTON, South Carolina - Eastman Chemical is avoiding hundreds of 300-mile round truck trips a month to the Port of Charleston by loading them at the inland port in Greer, South Carolina. From Greer, Eastman's containers are delivered to the port by Norfolk Southern Railway. The inland port has saved time...
Panama Canal bets loyalty incentives will boost competitiveness with Suez CHARLESTON, South Carolina - Volume-based toll reductions for container lines that regularly deploy large vessels through the expanded Panama Canal will make the canal route from Northeast Asia to the U.S. East Coast highly competitive with West Coast and Suez Canal routings, a Panama Canal Authority executive said. After the canal...
Shippers advised to move on ACE despite deadline extension Susan Kohn RossU.S. Customs and Border Protection announced on Aug. 31 the long-anticipated delay to full implementation of the Automated Commercial Environment, or ACE, its new computer platform. This short respite comes as a welcome relief to anyone following this issue. While Customs is close to being ready for full implementation,...
Maersk exec says big ships are 'an opportunity' CHARLESTON, South Carolina - Big container ships are necessary and here to stay, so marine terminals, ocean carriers and cargo interests must cooperate to ensure that logjams at ports, a Maersk Line executive said. "Everyone has a role to play," Michael White, president of Maersk Line North America, told an audience...
India's export slide continues with double-digit plunge India's global merchandise exports tumbled 20.7 percent year-over-year in August, the ninth straight month of declines, even as the Narendra Modi-led government continues to roll out new schemes to stimulate trade and economic growth. Exports in August declined to $21.3 billion from $26.8 billion a year earlier, the latest provisional trade...
India's Mundra port gains new Maersk call Mundra International Container Terminal, a major gateway for India's northwestern hinterlands, this week celebrated the first ship call of the Far East-Middle East, or FM3, service, a fixed-day, weekly intra-Asia loop by Maersk Line. The vessel Maersk Senang arrived at the DP World facility on Sept. 15, the terminal operator said...
Alibaba and USPS in speed delivery partnership HONG KONG - The U.S. Postal Service has become the latest national postal organization to partner with Alibaba as the Chinese e-commerce giant aggressively expands its global cross-border delivery network.The logistics affiliate of Alibaba Group, Cainiao, and USPS have signed an MOU to jointly develop speed delivery solutions across the...
Flat growth as Cathay Pacific flies into the slack season HONG KONG - Cathay Pacific and sister carrier Dragonair reported flat growth in air cargo during August as the Hong Kong-based airlines limp into the slack period before what is hoped will be a last-quarter peak season.The 148,109 tons of cargo and mail carried during the month was an meagre...
Pasha order ahead Pasha Group chief executive George Pasha IV said today that the containerships it purchased from Horizon Lines will have to be replaced in a $500m ship order.
Exemption could hurt PR deal A proposal to exempt Puerto Rico from the Jones Act could serve to reduce support for a debt restructuring effort in Congress, American Maritime Partnership (AMP) chairman Tom Allegretti said Wednesday.
Peter's second act Peter Georgiopoulos celebrated survival, success and a quest for larger listed companies in his first public speaking appearance in several years today, but it was a question about his failures that triggered a reflective moment.
Jaenichen swings back US Maritime Administrator Paul "Chip" Jaenichen issued a strongly-worded defence of the Jones Act, describing perceived impacts of cabotage restrictions on the economies of Hawaii and Puerto Rico as "outright falsehoods".
A test of nerve Nervous anchor-handler owners have failed to capitalise on a busy week for rig moves in the North Sea.
GMI in New York filing Global Maritime Investments (GMI) has fallen victim to the battered dry cargo market and sought Chapter 11 protection in the US.
DNV GL goes green Norwegian classification society launches five pilot projects in cooperation with domestic partners.
Pay rise for Centaurus Diana Containerships has extended the charter of a vessel to Maersk Line for a higher rate.
Cyber safety tops the list The new chairman of the International Association of Classification Societies (IACS), Christopher Wiernicki, has set the development of cyber safety systems as a main priority, but he does not foresee unmanned ships.
Diana seals new loan Greece's Diana Containerships has fixed up new finance worth $148m with Royal Bank of Scotland (RBS).
German yards busier German shipyards have seen worker numbers rise in the year to September.
Problems over? Croatia's economy minister Ivan Vrdoljak has told shipyard workers that problems are a thing of the past for the country's shipbuilding industry.
Damen talks continue Dutch yard working within sanctions to cooperate on new ships for Russia's Rosneft.
ISS bag Cheniere work Inchcape Shipping Services (ISS) has clinched a new deal with LNG company Cheniere Energy in the Asia Pacific region.
BW LPG ups coverage Singapore's BW LPG has revealed that a growing proportion of its VLGC fleet is now employed on time charters or contracts of affreightment (COAs).
Bergen Group unit files A ship equipment subsidiary of Bergen Group has filed for bankruptcy in Norway after orders dried up.
India relaxes rules India has eased cabotage restrictions on overseas ro-ro ships, car carriers and LNG vessels to allow them to operate more freely on coastal routes.
Fuel claim fails A chemical tanker owner has made an unsuccessful claim against a port agent in a row over whether the ship needed low-sulphur fuel at anchorage in a European port.
Tanjung's new venture Kuala Lumpur-listed Tanjung Offshore is teaming up with a Chinese company to lower costs.
Modec wins Culzean FSO Modec has secured the contract for the provision of a floating, storage and offloading (FSO) for Maersk Oil's Culzean development.
UASC confirms ship fire A brand new United Arab Shipping Co (UASC) containership suffered a fire off France last week, the company has confirmed.
Seadrill stock surges Investors have reacted positively to Seadrill's cancelled semi-submersible order by sending the shares up almost 10%.
Poacher turned gamekeeper Former convicted pirates are said to have returned to Somalia and are seeking work as armed guards on local fishing vessels.
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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