Avance may face rival bids for Aurora LPG, say analysts A BW LPG tanker. Credit: BW LPGAvance Gas Holding, which presented a USD200 million offer for Aurora LPG yesterday, may face rival bids from BW LPG or Dorian LPG, with the former viewed as a more likely candidate. Pareto Securities in Oslo agree with the view of the Aurora LPG board...
Bunker rates boost Finnlines and Viking's 3Q results Finland-based shipping companies Finnlines and Viking Line reported much-improved profits for 2015 to date, based largely on the low bunker rates despite flat or falling revenues. Grimaldi-owned Finnlines reported its best quarterly result ever at EUR24.7 million (USD26.6 million) up 36% y/y and forming a large part of 2015's EUR41.1...
MOL's ferry unit orders two vessels Mitsui OSK Lines' ferry subsidiary MOL Ferry said on 16 November that it has ordered two ro-ro ferries at compatriot shipbuilder Japan Marine United. Each of the 13,500 gt ferries will be 192 m long, 27 m wide and accommodate up to 709 people. The ferries, upon delivery in March to June...
Shipbuilder DSME discusses rehabilitation with staff, suppliers A DSME shipyard. Credit: DSMEEmbattled South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering told IHS Fairplay that it held a meeting between itself, its employees and its suppliers on 16 November to discuss how to recover from its liquidity crisis. DSME admitted to keeping KRW3 trillion (USD2.55 billion) in losses from...
SPP Shipbuilding put up for sale SPP's Tongyoung Yard, South Korea. Credit: SPP ShipbuildingStruggling South Korean mid-tier shipbuilder SPP Shipbuilding has been put up for sale by creditor banks after more than five years of failed restructuring. A public tender has been called for SPP's assets, namely a floating dock and a barge in the shipbuilder's yard...
Hong Kong port chief fails to address throughput decline Kwai Tsing container port. Credit: Hong Kong International TerminalsHong Kong's Acting chief executive, Carrie Lam Cheng Yuet-ngor, seemed oblivious to the plight of the city's port as she delivered a keynote address to the logistics and maritime industry at a government-organised conference in Hong Kong the day after the release...
Regulation should be an exact science, says ICS Construction requirements were created after the MOL Comfort sank despite a lack of data. Credit: UKP&I ClubThe International Chamber of Shipping wants to end the practice of developing new regulations in reaction to an accident, and replace this with a pre-emptive approach based on "scientific analysis" of accident data. Speaking to...
Gibdock wins 'breakthrough' five-ship contract Gibralter-based Gibdock has secured a exhaust gas scrubber (EGS) retrofit and special survey drydocking contract covering five vessels operated by ship management company Norbulk Shipping and owned by global shipping group Vroon. "This is our largest single assignment in 2015," commented Gibdock managing director Richard Beards, "and is also the first...
The results round-up All the shipping results in one place
Third quarter profits jump at Sovcomflot An 80% improvement on same period in 2014, thanks to better tanker rates
Reach Subsea mulls winter lay-ups and lay-offs Two vessels soon to be redelivered could be stacked due to weak market
Minoan posts massive profit increase for first nine months Grimaldi affiliate says Greek capital controls are harming growth
TGS records $150m impairment and cuts a sixth of staff Seismic company preparing for lower activity through 2017 and beyond
Yang Ming to enter strategic alliance with China Airlines Pair to enhance cooperation in freight transport, passenger services and e-commerce
Data Hub: World Fleet Update Fewer ships hit the water, but lay-up figures swell as overcapacity takes its toll
Pacific radiance leaves Ghana Offshore operators winds up Africa joint venture as another opens in Asia
Mattheou takes Green Award chair Arcadia Shipmanagement MD aims to help develop scheme's 'latent potential'
Uni-Asia charter income lifted by fleet additions Two new bulk carriers and a containership helped boost charter income
Awilco LNG withers on a $7m loss Company runs out of cash early next year, analysts forecast
Rehabilitation payments weigh on Pan Ocean results Company forecasts fourth-quarter freight rates to be steady
A cheaper way to shift boxes An interchange for repositioning containers could save carriers millions of dollars
Eagle Bulk's new boss charts a change of direction amid third-quarter losses Vogel to transform Eagle Bulk from tonnage provider to active owner and operator
Shipbuilding and design segments lift AVIC International Maritime earnings Industry outlook remains challenging amid fewer new vessel orders due to overcapacity
NTSB completes documentation of El Faro wreckage Ship's voyage data recorder still missing
Georgia Ports Authority posts 3% rise in container volumes Capacity increase in Savannah and Brunswick ports needed to meet market demand
Hyundai Merchant Marine posts $33m loss amid capacity glut Korean carrier to adjust capacity, rationalise bulk fleet in fourth quarter
India and Bangladesh seal pact on coastal shipping standard operating procedure Agreement will pave the way for bilateral trade between both nations
Georgia and South Carolina port authorities ink pact to build Jasper Ocean Terminal Long-planned $4.5bn Savannah project aims to develop US' largest single deepwater container terminal
US bankruptcy court gives protection to Daiichi Chuo US-based assets are shielded against creditor claims in main bankruptcy proceedings
Islamic State 'lacks capacity to hit shipping' Dryad report states lack of IS capability in Libya despite proclaimed 'targeting of Crusader ships and tankers'
ILWU office clerical workers urged to reach deal with employers In an effort to build upon the momentum of an agreement that was reached earlier this month between three waterfront employers and the West Coast office clerical union, the attorney representing 14 other shipping lines and terminal operators in Los Angeles-Long Beach urged his counterpart to strike similar agreements with...
ODFL to hike base rates, eliminate fuel surcharge With diesel prices down more than 30 percent year-over-year, and little chance they'll rise much soon, Old Dominion Freight Line is offering non-contract shippers fuel-surcharge-free rates. The Thomasville, North Carolina, company also said it will hike its non-contract base rates 4.9 percent on average Nov. 30 to cover the higher cost...
Proposed NS-CP tie-up reawakens consolidation questions Tuesday's proposed merger of Canadian Pacific and Norfolk Southern railways raises the question of whether the Class I railroad industry will be swept up in the wave of consolidation hitting the third-party logistics, parcel, and perhaps, even, the container shipping industries. Just 13 months after similar talks between the Calgary-based CP...
US investigators end search for El Faro voyage data recorder U.S. federal investigators have called off the search for the voyage data recorder of the sunken El Faro, prolonging the mystery of what caused the Oct. 1 tragedy that cost the lives of its 33 crew members. The National Transportation Safety Board has finished mapping and documenting with video the site...
Diana Containership falls to loss despite time charter revenue gains Ship charterer Diana Containerships reported a loss of $9.1 million in the third quarter compared to net income of $1.4 million in the same period last year, as the cost of disposing a ship offset increased time charter revenue. Without the $8.3 million loss from the sale and disposal of the...
China crackdown on export surcharges focused on domestic carriers China government pressure on container lines to reduce export surcharges to support slumping exports is focused primarily on local charges with the impact so far being limited, according to a firm that provides online pricing tools and has visibility of carrier surcharges being assessed out of China. "Yes, we are seeing...
Mitsui-Soko looks to acquire Naha container terminal Mitsui-Soko Holdings Co., a major Japan transportation and logistics service provider, is poised to acquire Naha International Container Terminal Inc. in Naha, Okinawa Prefecture, as part of its global expansion strategy. NICTI confirmed to JOC.com that Mitsui-Soko is in advanced talks to purchase a majority stake in the authorized private operator...
Asia-Europe containerized rail traffic falls on Russia weakness The importance of the Trans-Siberian Railway, or Transsib, as a container route from Asia to Europe is steadily growing, despite the decline in volume this year, according to Oleg Belozerov, president of Russia's railway monopoly, RZD. The longest railway line in the world, connecting Moscow with Russia's Far East and the...
Players promised faster bunkering at Indian port Kochi supplier resumes physical operations after upgrade.
Global climate deal could drive down oil demand: former Obama adviser A strong deal could result in global controls on marine and aviation fuels.
ING rumoured to have sold OW debt to equity firm Would not be first time new interests seek to take over outstanding OW bunker payments.
Failed bunker venture: 'Individuals should be held to account' Sri Lanka Ports and Shipping Minister: 'Question remains over huge Hambantota distillate purchase.'
Intense Rotterdam competition puts St Petersburg bunker margins under pressure Amid strengthening ruble against the dollar, sources say.
IFO 380 CST prices in Callao, Peru, hit two-month high on limited supplies Major fuel oil suppliers at that port stopped offering product for the second consecutive week.
Glander International Bunkering makes hire for India office Ankita Batra joins as Bunker and Lubricant Trader.
Platts Pre-Report Survey of Analysts' EIA Data Suggests a 1.1-Million-Barrel Build in U.S. Oil Stocks.
UK shipyard secures scrubber installation contract Two vessels will be upgraded in four-week operation.
Nigerian firm adds dual-fuel diesel electric newbuilds Company fleet expansion well underway.
Researcher: Shipping industry focusing on reducing fuel consumption 'Special importance' placed on marine engines running alternative fuels, it says.
LNG bunker barge builder posts lower quarterly profit Company's net profit more than 50% lower on year.
European firms to develop LNG bunker standards Parties also seek to regulate supply of LNG bunker fuel for ships.
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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