Updated: Costa recalls cruise trips after Tunis terror attack Costa Cruises said it is carefully monitoring the situation in Tunis after gunmen attacked the Bardo National Museum, killing at least 17 foreign tourists today. The line's Costa Fascinosa cruise ship is currently berthed in the Tunisian capital as part of its scheduled seven-day cruise of the West Mediterranean.
Box volumes plunge at LA ports Los Angeles and Long Beach ports' latest container figures reflect an earlier cargo buildup with a 17% year-on-year plunge in February's import-export volume. Imports fell 18% year on year to 458,687 teu while exports dropped 17% to 242,518 teu at the largest US container port complex. Congestion,
Sobelmar seeks US court protection Belgium's Sobelmar Antwerp NV has filed for Chapter 11 bankruptcy in Connecticut to protect itself from German lender HSH Nordbank. Sobelmar's fleet is comprised of four Handysize bulkers: the 2009-built Brasschaat and Zarachensk and the 2010-built Vyritsa and Kovdor. Sobelmar borrowed USD82.8
Europol sets up centre to tackle people smuggling A maritime intelligence centre to target people traffickers in the Mediterranean Sea has been opened by Europol, the European Union's (EU) law enforcement agency. Stationed at Europol's headquarters in the Hague, Netherlands, the Joint Operational Team Mare (JOT Mare) is an intelligence-led attempt
Ultrabulk warns of weak 2015 on demand concerns Ultrabulk has forecast that dry bulk demand will rise even less in 2015 than last year. In its 2014 annual report released today, the Chilean Ultramar group's Danish dry bulk shipping unit also predicted timecharter rates would fail to match their 2014 figure. "For the total dry bulk market,
European forwarders reveal muted outlook Freight forwarders in Europe expect their ocean freight bookings to flatline over the coming two months, says Danske Bank. In its European Freight Forwarding Index published today, Danske reports volume expectations for sea freight during April at 50, down from March's outlook of 52 points. As
European cruise market loses steam in 2014 European cruise demand was almost static in 2014, when 6.39 million of the continent's holidaymakers booked a cruise, up only 0.5% on the previous year. The trend significantly slows the market's expansion, according to new Cruise Lines International Association (CLIA) figures. "Since the
Cyclonic weather halts MH370 search The search for the missing Malaysian aircraft MH370 has been marred by cyclones, which have halted the search for several days, The Australian Transport Safety Bureau (ATSB) reported today. While category 5 Cyclone Pam devastated Vanuatu, piling yachts onto each other in Port Villa in the Pacific
Chinese yards new orders down 78.9% Chinese shipyards' new orders slumped 78.9% year on year (y/y) to 3.8 million dwt in the first two months of 2015, the China National Association of Shipbuilding Industry (CANSI) said on 18 March. The orderbook of the Chinese shipbuilders grew 1.8% y/y to 147.6 million dwt at the end of February,
Zhoushan ship exports to rise 15% in 2015 Ship exports of Zhoushan in Zhejiang Province, China, are expected to increase by 15% this year, showed data released by the local government. The city's ship exports valued a total of USD2.538 billion in 2014, up 6.68% from the USD2.379 billion in 2013. According to Fu Zhiye, a local ship trade
China's first 30,000 m³ LNG carrier launched China's first 30,000 m³ LNG carrier, designed by Shanghai Ship Research and Design Institute (SDARI), the leading ship design company in China, was launched on 4 March for test voyage. Hai Yang Shi You 301 was developed by SDARI for CNOOC Energy Technology & Services and constructed at China State
Two marine officers charged over deadly 2012 Hong Kong ferry crash Two marine officers in Hong Kong have been charged over a deadly vessel collision in 2012. So Ping-chi, 58, assistant director of the Marine Department of Hong Kong, was charged with one count of misconduct in public office, local police department said. Wong Kam-ching, 60, retired senior
Green panel slams Nicaragua Canal plan Economic and environmental risk factors associated with the yet-to-be-financed Nicaragua Canal will be too high to attract interest from private investors, according to an engineering expert. Speaking in Washington, D.C., on 17 March on a panel hosted by the Inter-American Dialogue titled 'What's
MOL establishes unified brand for breakbulk segment Mitsui OSK Lines announced on 18 March that the establishment of a unified brand - MOL Project & Heavy Cargo - highlights MOL Group's capabilities in the rapidly growing plant and heavyweight cargo transport sector. The new brand reflects MOL's efforts to convey the logistics services of each group
XMH posts 30.4% drop in earnings Singapore-listed marine and industrial diesel engines distributors XMH Holdings posted a 30.4% drop year on year (y/y) to SGD23.08 million (USD16.6 million) in its revenue for the third quarter ended 31 January 2015. The lower earnings prompted a 15% y/y decrease in its profit for the third quarter
AAL takes heavy-lift ship on long-term charter Singapore-based heavy-lift and breakbulk shipping company AAL Shipping has chartered-in a heavy-lift vessel as part of its fleet expansion strategy. The ship, named AAL Galveston, will join the company's fleet on long-term timecharter and add capacity to its tramp and projects division, focusing on
APL Logistics signs agreement to invest in Sri Lanka Singapore-headquartered container transportation and shipping company APL Logistics has signed an agreement with the Board of Investment of Sri Lanka for investment in the Katunayake Export Processing Zone (EPZ). APL Logistics, the logistics arm of Singapore-listed Neptune Orient Lines (NOL),
Pirates hijack tanker off Pulau Repong, Indonesia A product tanker was hijacked off Pulau Repong, Indonesia, by armed pirates, reported anti-piracy watchdog International Maritime Bureau (IMB). Singa Berlian was under way around 37 nm south of Pulau Repong when it was boarded by seven masked men armed with guns and long knives on 9 March at 21:08
Oil price slide deters LPG trade Freight rates to haul LPG on very large gas carriers (VLGCs) have been falling as US oil prices hit a six-year low this week, creating uncertainty in future LPG prices. Prices of light sweet crude closed at USD43.46 on the New York Mercantile Exchange on 16 March, the lowest since March 2009.
Beijing bid to attract shipping falters as owners shun Shanghai FTZ The Free Trade Zone has been in operation for 17 months, but so far no shipowners have chosen to register their vessels under scheme
EU set to reimpose IRISL sanctions Brussels planning to relist companies allegedly associated with Iran nuclear programme, law firm reveals
Lower oil price is crucial driver behind product tanker improvements Refineries are running at full throttle, taking advantage of lower oil prices, offering greater volumes for product tankers to carry and boosting the freight market
Safety regulation: lashing and securing is the next frontier TT Club chief looks at moves to address container safety
Out with the old, in with the teu? With the big box lines continuing to influence the movement of perishable goods, how are conventional reefership operators rising to the challenge?
Charles Taylor launches rights issue after strong full-year results Standard Club manager sees pre-tax profit jump 39%
GSI to conclude its $890m acquisitions and change company name Meanwhile, four directors have resigned but there is no divergence of views, says shipyard
California ports see better times ahead after February cargo plunge Cargo backlogs starting to clear after months of congestion
Cheaper oil and new sulphur regulations help boost Aegean Chairman Peter Georgiopoulos says good riddance to OW as Greece-based bunker supplier hikes profits
Navigator doubles profits in the fourth quarter Wilbur Ross-controlled gas carrier player benefits from lower costs and better rates
Virginia port grapples with near-unprecedented congestion The Port of Virginia is about to enter its second week of near-unprecedented congestion that has now spread to three of its four terminals on the Elizabeth River. After the port was forced to shut down for four consecutive days in mid-February due to winter weather, the Virginia Port Authority released...
Shippers seek to fix broken US labor-management system WASHINGTON - After finally getting Congress and the Obama administration to turn their attention to U.S. West Coast congestion exacerbated by union slowdowns, shippers are lobbying for a change to what they consider a broken labor-management system. The most likely vehicle for reforming the system that allowed the International Longshore and...
Agility truck drivers in Kenya end strike, return to work Truck drivers employed by Agility in Kenya ended a strike and are back at work, the company said, after a Kenyan court issued an order calling the strike "unlawful, and therefore unprotected." The drivers, which the company said were fewer in number than previously reported, haul cargo between the Port...
FedEx profit soars as 'modest' global growth improves outlook Across-the-board gains in freight volumes and a strong peak shipping season drove FedEx profit skyward, lifting net income 53 percent year-over-year to $580 million in the fiscal quarter that ended Feb. 28, while total revenue rose 4 percent to $11.7 billion. Neither winter weather, successive holiday peaks nor significant changes in...
First 10,000-TEU ship calls at NY-NJ and Savannah The Zim Tianjin is the first ship of its size to call at the Port of Savannah. Photo credit: Stephen MortonThe ports of New York-New Jersey and Savannah have handled the first container ship with capacity of more than 10,000 20-foot-equivalent units to call on the U.S. East Coast. Zim Integrated...
Newark mayor to port authority: Pay more or we'll sell land The mayor of Newark, New Jersey, has renewed his call for the Port Authority of New York and New Jersey to provide more money for city-owned land the bistate agency uses for seaport and airport facilities. Mayor Ras Baraka said that if the port authority won't do so, he is prepared...
Panama Canal to appeal negligence award to contractor group The Grupo Unidos por el Canal consortium claimed it was unable to obtain basalt - a key ingredient in cement - of the kind and quantity the canal authority said would be available at the start of construction. Subsequently, the group filed a $463 million suit against the Panama Canal...
Global container on-time reliability improves slightly, Drewry says Container lines' overall on-time arrival rates on major east-west routes improved slightly in February despite U.S. West Coast port congestion that upset trans-Pacific schedules, according to Drewry Maritime Research. Some 55 percent of ships in Asia-Europe, trans-Pacific and trans-Atlantic trades arrived within 24 hours of their advertised estimated time of arrival,...
APM Terminals may look outside the box for investments APM Terminals took a $102 million impairment charge in the fourth quarter of 2014 because of lower traffic at Global Ports, Russia's largest container handler, in which it has a 30.75 percent stake.APM Terminals is considering investments in non-container sectors, including oil and coal, starting this year, according to the...
LTL's road to riches Less-than-truckload growth accelerated in a big way in 2014 as total market revenue grew 7.5 percent to a record $35.4 billion. After years of losing share to parcel and truckload carriers, it seems the LTL industry is finally regaining some of its old business. SJ Consulting Group estimates that LTL...
Healthy growth for India major ports in latest throughput data Containers at Nhava Sheva port. Publicly owned major ports in India reported healthy levels of container throughput growth during April 2014 to February 2015, the first 11 months of fiscal year 2014-15, compared to the volumes in the previous year, according to the latest provisional figures compiled by JOC.com. Container-handling in the...
Houston port orders nine rubber-tire gantry cranes The Port of Houston has ordered nine rubber-tire gantry cranes for container yard operations at the Bayport terminal. The order will bring to 69 the number of RTGs at the port. The new cranes, supplied by Konecranes, are 16-wheeled devices with diesel gensets. They will have lifting capacity of 40 long...
Robust auto trade drives up Japan's US exports Japan's exports to the U.S. rose for the sixth consecutive month in February, surging 14.3 percent to 1.215 trillion yen ($10.0 billion) on the back of brisk auto shipments, according to preliminary trade figures released by the Japanese Finance Ministry this week.Shipments of automobiles, which include trucks and buses as...
Martinair Cargo to lay off 110 pilots in freighter cuts Martinair, Air France-KLM's all-cargo unit, announced it is laying off 330 employees, including 110 pilots, as it downsizes its freighter fleet in a bid to return to profitability. "Air France-KLM-Martinair Cargo has decided on a business model which requires less freighter capacity, rather than a model with no freighters at all,"...
Cargo contribution pushes up Cathay Pacific profits HONG KONG - Cathay Pacific reported a 20 percent increase in net profit for 2014 as a strong second half recovery in the cargo market helped drive up earnings to $403 million. Revenue for 2014 rose 5.5 percent year-over-year to $13 billion, with almost a quarter of that delivered by the...
Clean fuel law to raise cost of shipping via Hong Kong HONG KONG - A bill requiring ocean going ships to switch to low sulfur fuel while at berth in Hong Kong was tabled at the Legislative Council today and, if passed, will effectively raise the cost of shipping containers through the city even as it steadily loses market share to...
Container volumes plunged again in Los Angeles-Long Beach in February Container volumes in Los Angeles and Long Beach plummeted in February as the ports faced another month of severe congestion and labor problems. Los Angeles, the largest U.S. port, recorded a 10.2 percent decline in total container volume to 502,663 20-foot container units. Imports dropped 10.7 percent and exports were down...
Daebo under siege A bulker controlled by Taiwan Navigation has landed at the centre of a legal battle between Daebo International Shipping and one of the insolvent South Korean operator's creditors.
Barge adrift for months An unmanned Canadian supply barge, which has been sailing adrift for more than four months in the Arctic Ocean, is now approaching Russia's coast.
Tananbaum takes Eagle stock Hedge fund tycoon Steven Tananbaum has snapped up over $1m worth of shares in Eagle Bulk Shipping.
Van Oord's $1bn plan Dutch owner Van Oord is planning to spend more than EUR 1bn ($1.06bn) by 2018 on modernising its fleet.
NPCC orders in China National Petroleum Construction Co (NPCC) of the UAE has ordered two jack-up barges in China.
SBM helps in probe Dutch FPSO specialist SBM Offshore will assist Brazilian authorities investigating companies for corrupt deals with state-run Petrobras.
More lay-ups likely Shipowners are likely to remove more platform supply ships (PSVs) from the over-tonnaged North Sea spot market as rates weakened again on Wednesday.
Hayward nets pay rise Anthony Hayward's rise to the chairmanship at Glencore pushed his pay packed into seven figures in 2014.
Tanker burns off Korea All 16 crew have been evacuated from a tanker that suffered a fierce fire off South Korea.
Crewman goes missing A crewman from a Russian-flagged research vessel has gone missing off the Bahamas.
GSI gets facelift Hong Kong-listed Guangzhou Shipyard International (GSI) is changing its name to reflect an injection of yard assets by Chinese state parent CSSC.
Another nine for Navig8 UK-headquartered pools power Navig8 has added nine more vessels to its fleet so far this month.
Nordic on the mend Nordic Shipholding seems to be back on a profitable track following a radical restructuring that took place in 2013.
Ultrabulk eyes more buys Ultrabulk is keeping an eye out for further distressed opportunities to follow up its entry into the multi-purpose sector via the hiring of a team from Copenship.
Ferry freed from ice A Marine Atlantic ferry has reached port after spending a night stuck in ice off Canada.
U-Ming eyes double order Taiwanese bulker owner U-Ming will order two new cement carriers as it phases out older ships.
Ferry chaos looms Ferry companies are warning of huge delays at Dover if the UK goes ahead with exit checks for passengers.
Pal wants revenue boost State-owned Indonesian shipbuilder PT Pal is aiming to boost revenue by 200% this year.
Bluewater takes a hit Bluewater has become the latest offshore vessel operator to be forced to take a pay cut on one of its existing charters.
MSC unveils US move MSC Cruises announced plans to deploy an innovatively designed newbuilding to the United States, a move that would up its fledgling presence in North America.
Navigator in clover Navigator Holdings has seen its net profit more than double on the back of a larger fleet and improved charter rates.
APL selects Sri Lanka Neptune Orient Lines' (NOL) logistics arm is set to establish a regional consolidation hub for South Asia in Sri Lanka.
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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