Cavotec wins port equipment orders worth more than EUR 9 million Global engineering group Cavotec has won five separate orders with a combined value of more than EUR 9 million for some of its key innovative technologies, including the Group's MoorMasterTM automated mooring system and the new Automatic Plug-in System (APS), highlighting the strength and diversity of Cavotec's portfolio. "These orders demonstrate...
New Joint Venture Agreement Established for Jasper Ocean Terminal November 16, 2015 - Today the Georgia and South Carolina Ports Authorities signed a new joint venture agreement that provides the necessary framework for the two states to work cooperatively toward the development of the Jasper Ocean Terminal (JOT), which will be jointly owned and operated by both port authorities. "Whether...
ECDIS Ltd: Delivering a Full Spectrum of Deck and Navigation Courses With the introduction and approval of the new Instructor Training IMO course, ECDIS Ltd now offers one of the most extensive training portfolios across the Deck and Navigation spectrum. Whiteley, Hampshire September 2015 ECDIS Ltd is the only private training academy to offer 30 different courses, covering so much more than just...
Icarus flies too close to the sun For the past couple of years, dredging conferences have included at least one paper on how infrastructure investors should prepare for the surge of mega container ships. The main driver of this initiative has been Danish carrier Maersk, which has pushed the capacity of its vessels beyond 11,000 TEU to...
Steelmakers in China's grip last week a 45-year-old man died after falling from his apartment in London. He was the head of a British steel manufacturer that has struggled to compete against a tide of imported steel. The business is in administration, with 450 employees already laid off and the future of 1,200 others...
German ports lose more market share Containers at the port of Hamburg. Credit: PAHamburg and Bremerhaven continue to lose business within the North European range to their western competitors Rotterdam and Antwerp. General cargo and particularly container throughput continued to drop substantially during the third quarter in Hamburg, according to fresh data released by port marketing...
Incheon 2015 throughput lower than expected but port on track to open new terminal in 1Q16 Incheon, South Korea. Credit: PAThroughput at the Port of Incheon in South Korea will be lower than expected in 2015 as a result of weak demand from Europe. The port expects to book throughput of less than 2.36 million teu this year, short of its original target of 2.6 million...
Abu Dhabi National Tanker Company looks to expand dry bulk The cargoes are to be delivered to several ports, including Santos, pictured here. Credit: CodespAbu Dhabi National Tanker Company (ADNATCO) is inviting bulker operators to tender for a contract of affreightment to ship granular sulphur in 2016. The initial contract would be for 10 cargoes from January to August 2016, with...
Korea's KAMCO launches new ship finance scheme The ship financing unit of South Korean finance house Korea Asset Management Corporation has introduced a new USD85.7 million ship financing scheme. KAMCO Ship Investment Management Corporation, in collaboration with Bank of Tokyo unit BOT Leasing and Finance, Standard Chartered Bank, Shinhan Bank, Woori Bank and four shipping companies, including Sammok...
Avance Gas in USD million bid for Aurora LPG, seen too low Avance Gas Holding, the Oslo based VLGC owner has launched a NOK1.73 billion (USD200 million) to acquire Aurora LPG, another VLGC carrier owner headquartered in Norway, but the Aurora chairman has dismissed the bid as too low, a view shared by two shipping analysts. Avance Gas offers an exchange of shares,...
Dry bulk slump pushes Uni-Asia to loss in 3Q15 Uni-Asia CEO Michio TanamotoThe deepening dry bulk slump saw Singapore-listed shipowner Uni-Asia Holdings (Uni-Asia) record a loss of USD1.1 million for the third quarter, compared with a profit of USD0.25 million in the same three month period last year. Despite the loss, Uni-Asia's revenue improved by 5% year-on-year to USD17.9 million...
New round of China shipping mergers on the cards A VLCC owned by a Sinotrans subsidiary. Credit: PAAs if a merger between Cosco and China Shipping was not complicated enough, this weekend brought news that China Merchants Group and Sinotrans-CSC Holdings could be busy with their own round of merger talks. The rumour has been around for a few...
Sembcorp Marine sets record in number of cruise ship repairs Pacific Eden was formerly known as Statendam, pictured here. Credit: HasenpuschSingapore-listed offshore services provider Sembcorp Marine said that it has repaired 12 cruise ships this year with the completion of upgrades on Pacific Eden and Pacific Aria at its Admiralty Yard on 16 November. "2015 has been a busy year for...
Busan expects 5% growth in throughput as new port brings more transhipment business Busan port. Credit: Joachim AffeldtThe Busan Port Authority (BPA) expects 2015 container throughput to grow by around 5% that if realised would see total full-year throughput volume rise to more than 19.6 million teu. September throughput of 1.6 million teu was up 5.1% year on year. Throughput for the first nine...
VLCC earnings slide $5,000 over the week as December dates yet to kick-off With only four November cargoes remaining, further softening expected in coming days
Cosco receives debt financing from China Development Bank The $3.1bn financing package will invest in a wide range of financial products
Hamburg down on China and Russia woes Rise in dry bulk fails to counter falling box volumes
Ports of Auckland to shrink its footprint Port to sell off Onehunga for public use due to draft limitations
Swiber reports net profit despite lacklustre offshore industry Stronger contributions from Latin America and cost control measures boosted earnings
Avance Gas moves to buy Aurora LPG Having previously tried to buy Aurora in hostile bid, Avance strikes again with exchange offer, spurring consolidation in LPG shipping
Sinotrans & CSC subsidiaries reveal parent plans reorganisation Merger between China Merchants Group and Sinotrans looks another step closer
Wallem sets up crewing agency in Shenzhen, China First foreign company to fully own a crewing agency in the country
Singapore handled 16% fewer containers in October Box throughput at Singapore port falls in first 10 months of 2015
Maersk Container Industry's new $200m Chile factory delivers first reefer containers Maersk Line and CMA CGM place new reefer orders
Sembcorp Marine finishes Carnival unit cruiseships upgrade Group has repaired, upgraded or refurbished a total of 12 cruise vessels this year
Thoresen Shipping posts profit amid tough dry bulk markets South American agricultural trade supported dry bulk player
Bulk carrier detained in Singapore Marshall Islands-registered vessel owned by Maritime Equity Management
Low rates on high seas prompt Maersk unit to rationalise network Port coverage improves amid rationalisation efforts, says MCC chief executive Tim Wickmann
The next generation And the award goes to... the port best able to cultivate awareness among young people as to their work and worth and at the same time educating its potential workforce
'De-stocking' delayed as US retail inventories pile up Piles of warehoused goods don't seem to be shrinking that fast, despite the much ballyhooed destocking of U.S. inventory. Data released by the U.S. Census Bureau Nov. 13 show U.S. total inventories, both total inventories and retail stocks, rose in September from August. That could mean lower than expected U.S. freight...
Planned Georgia-South Carolina container terminal moves forward An artist's rendering of the Jasper Ocean Terminal. Credit: Moffatt & NicholThe development of Jasper Ocean Terminal made some headway Monday after the Georgia and South Carolina port authorities agreed to a framework for the long-discussed but still unrealized marine terminal on the the states' shared border. The agreement governs the...
Star Wars mania to send US toy imports into hyperdrive A remote-controlled BB-8 droid. Credit: StarWars.comLike Yoda using the force to lift an X-Wing from the swamp of Dagobah, U.S. demand for Star Wars toys from action figures to lightsabers is forecast to help raise total containerized toy imports 10.9 percent year-over-year, according to JOC Senior Economist Mario O. Moreno. With...
Amazon's competitive advantage tied to fulfillment operations Jon DeCesareHave you ever wondered how Amazon consistently delivers on its promise to ship your products correctly and have them arrive on a specific day or even earlier? Unlike past advances in retail operations - the emergence of the supermarket in the mid-20th century, say, or the more recent rise...
Savannah container volume growth returning to 'normal levels' Container volume at the port of Savannah, Georgia, rose just 3 percent year-over-year in October, a sign that the torrid pace of year-over-year growth seen earlier this year and in the last half of 2014 is now moderating as shippers return to the U.S. West Coast. Trade patterns are returning to...
US truckload capacity rises to 2008 level, JOC index shows Trucking companies may be short drivers, but there is no shortage of trucks in the U.S. An influx of new Class 8 tractors pushed the JOC Truckload Capacity Index up 1.3 percentage points to 90.4 in the third quarter, the first index reading above 90 since the end of 2008. The number...
Michelin holiday campaign celebrates America's commercial drivers GREENVILLE, S.C., Nov. 12, 2015 - As Americans enjoy the food, gifts and get-togethers that are the hallmarks of the holiday season, Michelin invites everyone to take a moment and salute the season's unsung heroes, commercial drivers. These are the people who spend countless hours on the road and in...
Busan expects growth despite China slowdown The Busan Port Authority expects 2015 container throughput to grow by around 5 percent, in which case total full-year throughput volume would rise to more than 19.6 million 20-foot-equivalent units. September's throughput rose 5.1 percent year-over-year to 1.6 million TEUs. Throughput for the first nine months of 2015 was up 5...
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