US towing safety improves in 2014 Crew fatalities and accidents in the US towing vessel sector improved slightly in 2014, according to the most recent government data. In a report covering towing industry safety from 1994-2014, the US Coast Guard (USCG) revealed that there were four crew fatalities in 2014, the lowest number on
Port of Nagoya's cargo traffic falls in May The Port of Nagoya in central Japan saw its cargo traffic decline in May due to sharp falls in both foreign trade and domestic trade, according to preliminary figures released by the Nagoya Port Authority on 18 August. Cargo traffic dropped 12.2% in May from a year earlier to 14.599 million tonnes.
Teesport receives container-handling boost UK port operator PD Ports announced on 18 August that it has invested in three new rubber tyre gantry (RTG) cranes to support Teesport's growing container throughput. This investment has been triggered by the port's increasing container volumes, a growth of 13% year on year since 2007, PD Ports
LNG carriers form spot pool US-listed Dynagas Partners, GasLog and Golar LNG have created an innovative pooling arrangement amid a depressed spot-rate environment. The arrangement, called The Cool Pool, will debut next month with 14 vessels: three each from Dynagas and GasLog plus eight from Golar. The pool will be run by
Japan ship export orders rocket 158% in July Orders at Japanese shipyards rose 158% in July as shipowners rushed to build ships that will comply with the International Maritime Organization's new standards, which will take effect from 1 July 2016. Figures from the Japan Ship Exporters' Association (JSEA) showed that its member shipyards
SSA aims to improve maritime financing in Singapore The Singapore Shipping Association (SSA) plans to improve maritime financing in line with the strategy of enhancing the country's status as a maritime hub. "Being a financial hub of the region, Singapore has strong, reasonable finance supports for the shipping industry in providing good
Thoresen Thai Agencies back to profit in Q2 Thoresen Thai Agencies has moved back into profit in the second quarter of the year after recording a loss during the first quarter, the company said in a statement released on 17 August. However, the Thai shipping and commodities group's results were held back by a poor performance in the
Adani signs Vizhinjam concession Indian private port major Adani Ports and Special Economic Zone (APSEZ) signed a concession agreement with the Kerala government on 17 August to develop and operate the proposed Vizhinjam Port. To be built at a cost of INR40 billion (USD625 million), the ambitious, deepwater facility in the
VLGC rates dip as trades quieten Rates to ship liquefied petroleum gas on very large gas carriers dipped on 17 August following a slight recovery from 10-14 August. Brokers told IHS Maritime that this was due to a number of ships being fixed and then cancelled when charterers failed to secure cargoes. Rates averaged
Van Oord wins EUR130 million Taiwan dredging contract Van Oord has been awarded the dredging contract for Phase II of the Intercontinental Container Center at the Taiwanese port of Kaohsiung. Awarded by Taiwan International Ports Corporation (TIPC), the contract is worth EUR130 million (USD144 million) and involves dredging 37 million m3 of sand to
Blasts affect Tianjin regional trade As operations at Tianjin port resumed after the explosions of 12 August, analysts have been attempting to quantify the likely impact on trade. Brian Jackson, senior IHS economist for China Regional told IHS Maritime that not just the port, but also the immediate region could see weaker trade. As a
IEV profit up 58.6% Singapore-listed offshore engineering company IEV Holdings (IEV) posted a profit of MYR8.6 million (USD2.1 million), up 58.6% year on year for the second quarter ending on 30 June 2015, despite recording lower revenue for the period. The company's earnings dropped by 39.9% y/y from MYR53.1 million
Singamas Container profits down 24% in 1H15 Hong Kong-listed container manufacturer Singamas Container said its profits fell 24% year on year (y/y) to USD10.1 million in the first six months of 2015 due to the falling selling prices of boxes. The company's revenue rose 3.7% y/y to USD704.0 million during the same period as demand for
Aegean posts lower profits Bunker supplier sells more but lower prices eat into revenues
Navios Acquisition reports record profit Surge in profit sharing may continue in third quarter as owner eyes even better numbers
Yemen aid port closed after air strike Red Sea Port of Hodeida attacked by Gulf-state coalition warplanes
Dips in US shale oil not yet top of Solvang's worries Gas-carrier company acknowledges risk of lower US shale oil output, but places it on backburner for now
Aronnax: Don't think the data thieves aren't interested in shipping Despite very real risks, the industry still lags behind in cyber-security awareness
Double-digit growth in transpacific traffic Pacific ports continue to win back trade from east coast rivals as normal service is resumed
Hafnia Tankers pulls in profits High refinery margins combined with high gasoline demand help to keep Mikael Skov's Hafnia firmly in the black
Doubt cast on tanker earning power over next two years But beyond 2017, Drewry predicts a return to full strength due to falling US shale oil output and consequent need for imports
Singamas posts weaker first-half results amid declining box prices But specialised container business and depreciation of the Chinese Yuan expected to help lift margins
Three LNG heavy-hitters form pool partnership Golar LNG, Dynagas and GasLog deal to create pool marks new phase of LNG shipping consolidation
RCL hit by a sharp drop in profits Intra-Asia trade lanes marked by volatile rates and overcapacity
Nigeria lock-down due to all-encompassing oil reforms Pre-occupation with sweeping changes to NNPC this summer could explain Nigeria's silence on its tanker ban
G6 introduces further capacity cuts The latest move comes as June figures from Container Trade Statistics showed slowing growth in China and a sluggish Eurozone economy continue to hinder box volumes.
Drydockings pull down Box Ships Two vessels fixed at higher rates due to market improvement
US funds sell MR product tankers Values for medium range vessels not rising as strongly as might have been expected
DAT index for US spot truck pricing, volume drops The truckload spot market slowed in July, reflecting moderate economic growth, lower seasonal shipping demand, expanded truck capacity and a stronger contract trucking market. The DAT North American Freight Index for last month showed spot market volumes and rates dropping across three equipment segments, dry van, refrigerated and flatbed, both from...
Econocaribe appoints global accounts director Econocaribe Consolidators is pleased to announce that William (Bill) Higgins has been appointed to the position of Director of Global Accounts. Mr. Higgins has been with Econocaribe since November 2007, and has been responsible for the business development for the company on the Gulf and West Coast of the United States as...
US domestic intermodal rates fall as truck prices rise, Cass says U.S. truckload rates continued to rise in July and domestic intermodal pricing dropped, as shippers continued to find it more and more difficult to justify converting business from highway to rail, according to Cass Information Systems and Avondale Partners. The freight payment company and investment research firm, however, said they don't...
Asia-Europe carriers push up to $1,000 per TEU hikes Several Asia-Europe container lines have announced Sept. 1 general rate increases of up to $1,000 per 20-foot-equivalent unit despite a persistently weak market that has undercut monthly GRIs all year. The planned increases came as G6 Alliance carriers said they will cancel four additional Asia-Europe sailings and the 2M Alliance of...
KONE selects Damco as global logistics partner Espoo - KONE, a global leader in the elevator and escalator industry, and Damco, one of the world's leading third party logistics providers, have signed a Global Transportation agreement appointing Damco as their global logistics partner for shipping KONE's elevators, escalators and spare parts to selected overseas destinations. KONE is seeing increasing...
US port diversions fuel high single-digit growth at Vancouver Port Metro VancouverU.S. West Coast diversions helped fuel an 8 percent container volume increase at Port Metro Vancouver and allowed Canada's largest container gateway to retain its Pacific Northwest market share. Port Metro Vancouver, which has been steadily eating away at Pacific Northwest ports' market share and is coming off a...
US truck tonnage 'snaps back' U.S. truck tonnage "snapped back" in July after dropping in June, which should ease some concerns about softness in the economy and weakening consumer confidence. However, high inventory levels could in effect put a speed limit on U.S. truck freight volumes. The American Trucking Associations seasonally adjusted For-Hire Truck Tonnage Index...
Norwegian Shipowners' Association says 'No' to beaching Brussels - The Norwegian Shipowners' Association says no to the beaching of end-of-life vessels - the NGO Shipbreaking Platform, a global coalition of 19 environmental and human rights organisations, welcomes this decision and calls on other ship owners and their associations to mirror the Norwegian position. In an op-ed...
Alliance Shippers promotes new Ohio Valley president Englewood Cliffs, NJ - Alliance Shippers Inc., a leading provider of global logistics services, has named Rick Plieninger the regional vice president for their Ohio Valley region. Plieninger brings close to 30 years of experience within the transportation and logistics industry to the Alliance team. Most recently he served as the...
Prince Rupert snags 2M Alliance call Port of Prince Rupert, CanadaThe 2M Alliance of Maersk Line and Mediterranean Shipping Co. will add a trans-Pacific call at Prince Rupert, giving the fast-growing British Columbia port its first direct Asian call from non-CKYHE carriers. Container volume through the port jumped 43 percent year-over-year in the first half, according to...
Janel's purchase of Liberty latest in logistics acquisition surge Logistics provider Janel Corporation this week announced it will be acquiring Rhode Island-based logistics provider Liberty International, the latest in a flurry acquisitions that have swept through the industry this year. Terms of the stock purchase were not disclosed. According to the New York-based Janel, Liberty will continue to function as...
Coyote acquisition makes UPS full-fledged logistics firm If you're an online shopper who waits until late in the holiday season to meet your gift-giving needs, chances are you've had to rely on express delivery. If that delivery company was UPS, chances are Coyote Logistics helped arrange the shipment. For the past several holiday seasons, the largest U.S. transportation...
Hamburg traffic down on Russia slump, China slowdown Port of HamburgLONDON - The Port of Hamburg handled 6.8 percent fewer containers in the first half of 2015 than a year ago, as sharply lower Russian and Chinese traffic hampered the German port's goal to become the No. 2 container gateway in North Europe. The decline, to 4.5 million...
US truck emission mandate offers savings potential On the putting green, the golfer who putts last has the advantage of watching his predecessor 'show him the line'. There is valuable information to be gleaned if his attention is focused on the details. For instance, he can determine many uncontrollable factors like the speed, slope, and characteristics of...
The pot of gold? End-to-end supply chain solutions If you're an online shopper who waits until late in the holiday season to meet your gift-giving needs, chances are you've had to rely on express delivery. If that delivery company was UPS, chances are Coyote Logistics helped arrange the shipment. For the past several holiday seasons, the largest U.S. transportation...
Logistics dealmakers strive to improve supply chain service quality When UPS in late July announced plans to acquire Coyote Logistics for $1.8 billion, some logistics consultants and Wall Street analysts practically howled their puzzlement. "We still find the pairing quite strange," equity research analysts at BB&T Capital Markets said in an Aug. 3 investor note. The BB&T analysts likened...
Cheaper box prices hurt Singamas first-half profit HONG KONG - Singamas Container Holdings reported a 24 percent drop in net profit in the first half despite selling more containers as sales prices were dragged down by the falling price of steel.In the first six months, the Hong Kong-listed container maker made a net profit of $10.1 million,...
G6 carriers blank four Asia-Europe sailings LONDON - The G6 Alliance today announced it is axing four more Asia-Europe sailings just days after Maersk and Mediterranean Shipping Co. said they will drop one of their joint services on the troubled route that is facing declining demand and slumping freight rates. The G6 carriers - Hapag-Lloyd, APL, Hyundai...
Adani vows to finish India's deep-sea Vizhinjam in 1,000 days A conceptualization of the new Vizhinjam port.Adani Ports and Special Economic Zone on Monday signed a concession agreement to develop the much-publicized Vizhinjam International Container Transshipment Terminal, allowing India's largest private port developer to begin construction on the green-field project November 1. The first phase of the project will include a...
China slowdown a drag on Cosco Pacific volumes HONG KONG - Cosco Pacific container throughput registered a meagre 1.3 percent growth in July as China's slowing exports dragged down volumes at the mainland's second largest port operator.Ten of the 14 Chinese ports the Hong Kong-listed group has stakes in recorded year-over-year declines in July volumes, with the biggest...
Trans-Pacific spot rate surge bodes well for peak season A modest spike in freight rates in the eastbound Pacific last week offers the first indication that the trade could experience a strong peak-shipping season - and the threat of marine terminal congestion. The Shanghai Container Freight Index reported an 11 percent increase in the spot rate for shipping a 40-foot container...
US Customs keeps to 'single window' deadline despite concerns WASHINGTON - U.S. Customs and Border Protection says its November deadline for the ACE "single window" program stands, even though smaller federal agencies have already said they won't be ready in time and larger ones are lagging behind. Although it is aware of concerns shared by federal agencies and shippers alike...
Navios Acquisition target cut Evercore ISI cut its share price target for Navios Maritime Acquisition after the tanker owner revealed that it plans to use added cash to cut debt rather than reward shareholders.
VLCC slump drags on VLCCs saw their spot market earnings drop $2,770, or 8.1%, on the key eastbound route Tuesday as delayed seasonal slump continued in the Middle East market.
Aegean shares plunge Shares in Peter Georgiopoulos-led Aegean Marine Petroleum Network plunged Tuesday after the company reported a worse-than-expected second-quarter profit.
Profit ahead for Hoegh LNG Oslo-listed FSRU specialist set for second quarter thanks to arrival of Hoegh Gallant.
Hafnia rides products wave US IPO hopeful Hafnia Tankers shot into the black in the second quarter on the back of the best products tanker market in over half a decade.
Clean air and capes World War II anniversary celebrations in Beijing are having an influence on capesize spot rates, Braemar ACM says.
Navios Acquisition overturns loss Greek tanker owner beats market expectations and posts positive result for the second quarter.
Trio form LNG pool Dynagas, GasLog and Golar LNG combine to form "The cool pool" with an initial 14 ships.
G6 cuts Asia-Europe exposure The G6 alliance has introduced further cuts to its Asia-Europe service due to changes in demand.
A meeting of minds A merger between Anglo Eastern and Univan to enlarge one of the world's leading ship management companies started out like any other courtship.
Bumi lands new loan Bumi Armada has signed a new loan agreement with four banks, its second deal since early July.
MOL settles in price fixing case Mitsui OSK Lines (MOL) has become the second company to reach a settlement relating to an antitrust litigation in the US.
Shell job for Coscol newbuild Cosco Shipping has won a contract to transport a Shell rig from South Korea to the US.
Dockings dent Box Ships Michael Bodouroglou-led container owner sinks into the red in the second quarter.
Aegean misses estimates Industry headwinds take their toll on Q2 results at US-listed bunker company.
RCL profit slides in Q2 Regional Container Lines (RCL) has seen its second quarter results shrink by over 80% compared to a year ago.
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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