USCG unveils maritime cyber scheme Developing guidance for commercial vessels and port terminal operators on identifying cyber-attack risks is one of the objectives of the US Coast Guard's cyber-security plan. The agency's Cyber Strategy, unveiled by USCG Commandant Paul Zukunft on 16 June, will guide the coastguard's cyber efforts
Seadrill spin-off acquires ultra deepwater rig Seadrill, the London-based listed drilling rig and ship owner in John Fredriksen's business empire, says it has agreed to sell the 2008-built ultra deepwater rig West Polaris to Seadrill Partners, a listed spin-off company. The deal sees Seadrill Operating LP - 58% owned by Seadrill Partners LLC -
Mobile port adds box capacity Container capacity at the Port of Mobile, Alabama is increasing to 475,000 teu with the addition of two post-Panamax gantry cranes. APM Terminals (APMT) announced on 16 June that in addition to the new cranes, it is expanding the container yard by 8 ha (20 acres) as part of a USD40 million
China, Australia ink free trade agreement China and Australia signed a long-awaited free-trade agreement (FTA) on 17 June after a decade of negotiations, lifting most tariffs in both countries. In terms of cargo trading, 85.4% of China and Australia's exports will be tariff-free as soon as the agreement takes effects. Upon full
Global seaborne LPG trade to grow Seaborne LPG trade will continue rising, fuelled by increasing exports from the United States and Algeria as well as growing Asian demand. Speaking on the second day of IHS Asia LPG Seminar in Singapore on 17 June, IHS Waterborne Energy senior director Scott Gray said that global LPG shipments are
Yang Ming, RCL launch new Southeast Asia service Taiwanese container carrier Yang Ming Marine announced that it is partnering with Thai carrier Regional Container Lines (RCL) to launch a Southeast Asia service. Two 1,200-1,500 teu box ships, one each from Yang Ming and RCL, will be deployed for the service. Each voyage is scheduled to last 14 days, with the maiden voyage beginning on 22 June from Singapore.
SapuraKencana's net profit halves in 1Q15 Malaysia-listed offshore services provider SapuraKencana Petroleum's first-quarter 2015 net profit almost halved to MYR261.2 million (USD69.6 million), compared with the net profit of MYR510 million in last year's quarter. The decrease was followed by the dip in its revenue for first-quarter 2015
MMHE clinches contracts worth $86.34m Malaysia-listed shipbuilder Malaysia Marine and Heavy Engineering (MMHE) has clinched various contracts worth a total of MYR324 million (USD86.34 million) from the upstream oil and gas sector, as well as in ship maintenance deals. The contracts won by MMHE comprise of working with South Korea-based
PSA orders more ZPMC cranes for Voltri Pra terminal Singapore-based port operator PSA International said it has ordered four gooseneck cranes for its Voltri Pra terminal in Genoa, Italy from Chinese crane manufacturer Shanghai Zhenhua Heavy Industries (ZPMC). The order comes after a previous order made at the end of 2014 for four similar cranes,
Yokohama's exports rise in March Japan's Yokohama port's exports rose 10.8% year on year (y/y) in March, to 2.959 million tonnes of cargo. Imports rose 7% y/y in March to 3.261 million tonnes. However, the port's overall traffic decreased because of lower domestic trade. Domestic trade fell 4.8% y/y to 3.714 million tonnes of
Navios Midstream confirms fifth and sixth VLCC dropdowns $100m acquisition will boost payouts to unit holders
Is consolidation a hopeless cause in dry bulk? Leading analyst says so, but would-be consolidators say interest is rising among owners
Houston Ship Channel closed; tanker schedules disrupted Busy waterway could still be closed tomorrow
RCL enters big-ship league Thai feeder operator teams up with three other carriers to deploy seven 6,500 teu ships on Northeast Asia-Middle East trade
Moody's upgrades NYK's outlook to stable Growing optimism from credit agency after change in methodology and improvement in earnings
Creasy appointed chairman at Charles Taylor London market veteran to head Standard Club manager
RMT announces CalMac strike plans Ratings to take industrial action later this month
Yemen LNG fate hangs on Geneva peace talks Gas shipping looks to this week's UN-sponsored peace initiative as Balhaf exports remain offline
Beijing's drive to reduce shipping emissions arouses differing views within cabinet Transport and environment ministries have different goals in limiting sulphur content of fuel oil
APMT readies Alabama terminal for Panama Canal expansion Two new super-post panamax cranes and additional yard capacity announced as part of $40m investment programme
Top maritime regulators arrive in Brussels to review competition in box trades Officials from the EU, China and US to attend second summit as alliances settle in and freight rates plunge
Mercator seals kamsarmax deal The dry bulk shipping business is hoping a deal with Clearlake Shipping will provide a welcome financial shot in the arm during a troubled market
Data Hub: Trade Statistics East Asia sees strong outbound growth but a drop in first-quarter imports as decline in US-China volume hits trade
VLCCs are geared for growth Growth in spot earnings and growth in commercial deals illustrate a new era for VLCCs
Organic gains, not diversions, drive Charleston port to record volume The South Carolina Ports Authority handled record container volume in May and approved $165.5 million in capital spending on new and expanded facilities during its fiscal year that begins July 1. The lingering effects of congestion at West Coast and North Atlantic ports provided a marginal boost to volume but most...
Hong Kong-to-Los Angeles spot rate index falls to four-year low An index measuring spot rates to ship a 40-foot container from Hong Kong to Los Angeles this week fell to a more than four-year low, a plunge somewhat explained in part by seasonal decline in demand, but still an ominous sign to carriers seeking general rate increases over the coming...
Yang Ming (America) Corp. moves corporate HQ We are pleased to announce that Yang Ming (America) Corp Headquarters in Jersey City is moving to One Newark Center, 1085 Raymond Boulevard, Ninth Floor, Newark, New Jersey 07102, effective June 22, 2015. Yang Ming (America) Corp. One Newark Center 1085 Raymond Boulevard, 9th Floor Newark, New Jersey 07102 Our Corporate Headquarter phone numbers and...
Trade pact to boost China-Australia container trade after double-digit gain A new free-trade agreement between Australia and its largest trading partner, China, will likely further accelerate containerized trade between the duo after their volume rose 14.6 percent in the last three years. When the agreement initially takes effect, 85.4 percent of China and Australia's products will be tariff-free. Once it is...
Indonesian, Malaysian shippers to gain new connections to Singapore, Port Klang A new weekly intra-Asia service will give Indonesian and Malaysian shippers better access to the transshipment hubs of Singapore and Port Klang, Malaysia starting later this month. The service provided by Yang Ming and Regional Container Line begins June 22 and is another sign of carriers deploying more ships to serve...
Signs point to US shippers' slowing intermodal conversion U.S. shippers are finding it more and more difficult to rationalize shifting their cargo from highway to rail. And questionable service reliability and accelerating intermodal rates are to blame, according to intermodal analysts and a recent shipper survey. Given that many of the contributing factors are temporary, though, many industry insiders...
Holland & Hart launches new global trade sanctions blog WASHINGTON - Holland & Hart today announced the launch of www.tradesanctions.com, a global trade sanctions blog authored by leaders of Holland & Hart's International Trade team. Ranked nationally by Chambers USA and Chambers Global, Holland & Hart's experienced trade sanctions attorneys will author timely articles to help clients and business leaders stay...
Vantix Logistics selects Yusen Logistics (Americas) as intermodal provider SECAUCUS - Vantix Logistics has selected Yusen Logistics (Americas) to provide intermodal and OTR service. Under the contract, Yusen Logistics is managing 60 to 70 intermodal freight movements each month for Vantix, the Dallas-based division of McLane Co. Inc. and a provider of supply chain solutions for the food industry. The shipments consist...
Long Beach volume returns to pre-recession levels The Port of Long Beach in May recorded its busiest month since October 2007, indicating that cargo volumes are returning to pre-recession levels and the worst effects of the labor disruptions this past year are over. Click to EnlargeTotal container volume, imports exports and empties, was 635,250 20-foot container units, an...
Pension charge leads to $895 million FedEx quarterly loss An accounting change that cost FedEx $2.2 billion cut deep into the company's earnings to produce an $895 million loss in the fourth quarter of the company's fiscal year. Adjusted for that $2.2 billion pre-tax charge, FedEx net profit would have been $753 million, compared with a $730 million net profit...
East-west lines' on-time record improves again On-time performance for container ships in the three core east-west trade lanes improved in May for the fourth consecutive month, Drewry Supply Chain Advisors said in its monthly Carrier Performance Insight. The improvement was driven by much better on-time performance in the trans-Pacific and trans-Atlantic trades, where U.S. port congestion disrupted...
Brazil unveils long-delayed port concessions Plans to invest 198.4 billion reais ($63.83 billion) in infrastructure concession projects have been announced in Brazil this past week by President Dilma Rousseff. Roughly 37.4 billion reais is expected to be invested in the port sector. Rousseff has launched what she and her key ministers are billing as "the greatest...
Japan-US trade loses some momentum In an ominous sign for its export-reliant economy, Japan's red-hot merchandise trade with the United States lost some steam in May after expanding by more than 20 percent in March and April. Japan's exports to the U.S. rose for the ninth successive month in May on a year-over-year basis, climbing 7.4...
Asia-Europe rate turmoil spreads to north-south routes LONDON - The freight rate collapse on the Asia-Europe trades has triggered a domino effect across carriers' global networks with spot rates out of China to Australia and South America sinking to all time lows, according to Alphaliner.Rates on several other routes out of China are also nearing their 2009...
MSC bolsters India service with stop at Hazira Mediterranean Shipping Company will add a direct call at Hazira, India, to its IPAK service in order to enhance direct connections between India, North Europe and the Mediterranean, effective in early July. The new port call will begin with the arrival of the MSC Tomoko at Adani Hazira Container Terminal on...
AirBridgeCargo to receive 20 Boeing 747-8 freighters LONDON - Russian cargo airline Volga-Dnepr signed a memorandum of understanding today to buy and lease twenty Boeing 747-8 freighters with a combined list price of $7.4 billion for its AirBridgeCargo Airlines unit. The agreement, announced at the Paris air show, also calls for Volga-Dnepr's fleet of Antonov-124-100 heavy lift aircraft...
No sign of China port slowdown as May volumes rise at Cosco Pacific HONG KONG - Cosco Pacific reported growing container volumes across all its geographical sectors with 28 million 20-foot-equivalent units handled by China's second largest port operator in the first five months of the year. A China slowdown does not yet appear to have hit the port sector, with Cosco Pacific...
Asia-Europe rate turmoil spreads to north-south routes Freight rates have tumbled on the Asia-Australia routes as capacity cascades in from the major east-west trades.LONDON - The freight rate collapse on the Asia-Europe trades has triggered a domino effect across carriers' global networks with spot rates out of China to Australia and South America sinking to all time...
No sign of China port slowdown as May volumes rise at Cosco Pacific HONG KONG - Cosco Pacific reported growing container volumes across all its geographical sectors with 28 million TEUs handled by China's second largest port operator in the first five months of the year. A China slowdown does not yet appear to have hit the port sector, with Cosco Pacific handling...
Drastic capacity cuts the way out of Asia-Europe mess, Alphaliner says Carriers on the Asia-Europe route via the Suez Canal have cancelled 52 sailings so far this year in a vain bid to raise rates.HONG KONG - The only way to stop the Asia-Europe rate war was to make drastic and permanent capacity cuts, as the widespread practice of voiding sailings...
KNOT enough for BG Knutsen NYK Offshore Tankers (KNOT) has ordered a suzemax shuttle tankers after BG Group exercised an option for a long-term charter.
Bigger, better, broken? Shipping consolidation is coming, but perhaps not as quickly or efficiently as some would hope.
Hapag-Lloyd rating outlook upped Moody's Investor Service hiked its outlook on Hapag-Lloyd's credit rating to "stable" as the German liner operator's financial metrics improved.
Greatship sells AHTS India's Greatship has offloaded one of its modern anchor handling tug supply vessels (AHTS).
Liner reliability surges Containership schedule reliability has surged since January, reaching the highest point in a year.
NAP bumps distribution Navios Maritime Midstream Partners (NAP) will push up its shareholder payout after striking a deal with sibling Navios Maritime Acquisition to take two VLCCs.
Petrobras pain delayed? Brazilian state oil company Petrobras could postpone cuts to its $221bn five-year spending plan.
VLCC spending to top $3bn Investment in second hand VLCCs in 2015 will cross benchmark if Euronav takes Metrostar options.
Three hours, three vessels Intruders boarded three vessels within three hours earlier today in the eastbound lane of the Straits of Malacca and Singapore.
Stena profit soars Sweden's Stena AB has revealed a big profit in the first quarter after it sold nine ferries and other assets.
Eagle refilling shelf Eagle Bulk Shipping is laying the groundwork for securities sales worth up to $500m.
First Steamship falls Taiwanese bulker owner First Steamship has logged a drop in first quarter profit as financial costs rose.
Atlantska: not us Atlantska Plovidba has refuted media speculation that its executives acquired shares to the company's detriment.
MSC rejigs in Americas MSC is teaming with three other container lines to launch two new services in South and North America.
GMI shares dry view Global Maritime Investments is bearish on the dry bulk market for the rest of this year but has seen some groundwork laid for the next upturn.
Phoenix barred An Indian bulker has been banned from Paris MoU ports for three months after failing its third port state check in two years.
Ceona's new CEO Mark Preece takes over top job at offshore owner, succeeding Steve Preston.
Moody's positive on Maersk Ratings agency Moody's has raised its outlook for AP Moller-Maersk to positive from stable due to an improvement in its debt profile.
Epic plans fundraiser Epic Gas announced plans Wednesday to raise around $50m from a private placement of new shares to existing shareholders.
USC takes control Russia's United Shipbuilding Corporation (USC) has finally got its hands on 100% of the shares in new far eastern shipyard Zvezda.
Drillship drops down John Fredriksen's Seadrill is selling a drillship to its spin-off Seadrill Partners (SP) for a quick cash boost.
Siem sale falls through Norway's Siem Shipping is launching legal action after failing to sell a veteran reefer.
Orkim hunt ramped up The hunt for a missing Malaysian-flagged product tanker has been stepped up with more assets added to the search operation.
DeepOcean seals BG work DeepOcean has been awarded a five year contract by the UK's BG Group for maintenance and repair (IMR) work.
Hamburg skipper fined The master of a cruise ship, which was damaged by rocky shoals after going aground off Ireland, has been fined by a court in Belfast.
Cheaper ship prices coming Fast declining orderbook pointing to a further price correction, says Morgan Stanley.
Rodgers ain't braggin' When panelists at the annual Marine Money conference in New York were asked how they would spend $1bn in today's shipping market, only one member was able to speak from recent personal experience.
VLCCs move upward The VLCC has moved sharply upward after staying quiet last week, with brokers estimating a roughly 10% leap in day rates on the benchmark route between the Middle East and Japan.
LNG 'will have a place' in future of marine fuels Development 'is still on track', says Global Gas Technology Market Manager for Lloyd's Register.
Bunkering 'key' in push for LNG Involvement needed from 'big players' to help 'make this work on a global scale', FMC Commissioner says.
'At berth' regulations will cut pollutants by 60% But Hong Kong has no plans for 'cold ironing' at box terminals.
Piraeus hosts LNG bunkering events Initiative part of Poseidon Med project.
Bunker player ready to build more terminals 'We are looking at either acquiring or developing in greenfield sites.'
Bunkers de Mexico rebuts barge arrest report Company source says barges are operating and that 'we are making deliveries'.
Ferry design aims for fuel efficiency Vessel to be deployed on New York commuter route.
'At berth' regululations will cut pollutants by 60% But Hong Kong has no plans for 'cold ironing' at box terminals.
LNG pricing: 'Market dynamics have shifted in buyers' favour' LNG price deals becoming more transparent and less complex.
Invention reduces need for oil change Using an ultra-fine filter.
Police: Missing tanker believed hijacked Vessel had cargo of gasoline.
Glander International Bunkering makes new Americas hire Marcello joins Florida officeas bunker trader.
Glander International Bunkering expands Florida office Jake Marcello joins company as Bunker and Lubricant Trader/Broker.
Delisting threat widens for Andatee Shares fail to meet minimum required bid price.
CLIA raises 'significant concerns' about Australian sulphur regulation Hoping to influence 'stage 2' proposal for wider NSW 0.1% sulphur limit that would apply from next year.
Cruise company orders LNG-fuelled newbuilds Orders for two vessels have been placed with German shipbuilder.
Marex Spectron: EL Nino expected to impact oil shipments By increasing the number of cyclones in the North Indian Ocean and typhoons in the South Pacific.
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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