APM Terminals completes Grup Maritim TCB takeover In a transaction valued at USD1 billion, Rotterdam-based terminal operating giant APM Terminals is to buy the remaining 39% of shares in Spanish terminal company Grup Maritim TCB. APMT bought a 61% controlling stake in Grup TCB from Perez y Cia in September this year. Barcelona-based Grup TCB has
PSA lays foundation stone for JNPT's fourth box terminal Singaporean terminal giant PSA International has laid the foundation stone for Jawaharlal Nehru Port Trust of India's fourth container terminal at a ceremony attended by Indian prime minister, Narendra Modi, and shipping minister Nitin Jairam Gadkari. East of Mumbai in Maharashtra, JNPT is India's
Santos ships first LNG out of Gladstone Australian oil and gas producer Santos today shipped its first cargo of LNG out of its AUD25 billion (USD18.5 billion) Gladstone project in northern Queensland. The shipment is bound for South Korea on board the 105,335 gt Malaysian tanker Seri Bakti. Santos managing director and chief executive
Brazilian woes weigh on Vard Singapore-listed Norwegian offshore vessel builder Vard Holdings is set for poorer results than in previous years as its operations in Brazil continue to struggle. In commentaries issued on 16 October, analysts said the weak oil price had slashed demand for the offshore support vessels that are
Kyoto looks to build LNG import terminal The government of Japan's Kyoto Prefecture is considering building a liquefied natural gas (LNG) import terminal at the western port of Maizuru. The move is part of efforts to ensure stable energy supplies. Kyoto recently set up a study group recently to discuss the issue. This was made up of
Stolt-Nielsen in Italian LNG terminal deal Stolt-Nielsen has acquired a stake in a planned LNG terminal in Italy. The London-based chemical and gas tanker and terminals group listed in Oslo has purchased 10% of the shares in HIGAS, with an option to acquire up to 80% of the company, through its subsidiary Stolt-Nielsen Gas. "HIGAS is a
Container markets down across the board Earnings across the container shipping industry remain under heavy pressure after the Golden Week in China and the end of the cargo peak season. Both liner operators and tramp shipowners, who hire their tonnage out to carriers, are facing further falls in the respective spot markets for full
Struggling Daiichi Chuo transfers Capesize to NS United Japanese bulker outfit Daiichi Chuo, which filed for civil rehabilitation on 29 September, has announced that it has transferred one of its Capesize bulkers and the related charter contract to compatriot NS United. The ship, Katsura, was built in 2010 by Universal Shipbuilding, which in 2012 merged
Loss of momentum looms for VLCC market The outlook in the VLCC sector is gradually softening on weakening demand, although in the short term the prospects are fairly encouraging, shipping analysts have reported. "As the spot market has shown exceptional strength during 2015, timecharter rates have also reached new highs," Erik Nikolai
Demand set to edge upwards in dry bulk The dry bulk shipping sector, having suffered from weak demand for a long time, should see a slight easing of the situation in the coming months, while fleet growth should remain subdued, a senior shipping analyst has predicted. "The vital commodities, coal and iron ore, are both expected to be in
Noryards Fosen files for bankruptcy Noryards Fosen, part of the Noyards group in Bergen, Norway, has filed for bankruptcy. The Noyards group belongs to Luxembourg-domiciled but Ukraininan-owned Calexo group. The development comes after the cancellation of an offshore service vessel order at the yard last month "On the 23 of
Logistics providers urged to 'become networks' Today's digital world is turning markets into networks, according to Boris Dobberstein, vice-president for contract logistics at market leader UPS, so logistics companies must increasingly become networks, too. "This means that the number of partners involved in a supply chain will also increase,"
Bintulu Port awards $5.3m maintenance dredging contract to Integrated Marine Works Malaysia-listed port operator Bintulu Port Holdings has engaged engineering services company Integrated Marine Works (IMW) for maintenance dredging works worth MYR21.9 million (USD5.3 million). The contract was signed by Bintulu Port, a wholly owned subsidiary of Bintulu Port Holdings, including 6%
Los Angeles box volume falls 6.3% y/y in September Container business moving through US largest port complex fell 6.3% year on year (y/y) in September despite a bump in exports at the Port of Long Beach. Combined imports at the ports of Long Beach and Los Angeles fell 6% to 705,901 teu for the month, while exports dropped 7.1% to 249,925 teu -
El Faro victim's family sues TOTE for $100m The family of one of the 33 crew members who died in the El Faro sinking has accused TOTE Maritime of negligence in a USD100 million lawsuit against the company. Joanna Johnson, representing crew member Lonnie Jordan, claimed that TOTE, which operated the ro-ro vessel in its US-Puerto Rico service,
Malaysia foils country's biggest sea robbery attempt Malaysia foils biggest sea robbery attempt off Malaysia The Malaysia Maritime Enforcement Agency (MMEA) has thwarted the biggest sea robbery attempt in Malaysia to date off Tanjung Piai. MMEA maritime enforcement chief Aminuddin Abdul Rashid said his officials foiled a robbery attempt on Liberia-flagged tanker Almi Spirit on 15 October. Six robbers
Ecsa calls Europe's 2016 CO2 target 'unrealistic' European Parliament backs the IMO, but on a tight deadline
Significant milestone for Iran sanctions process 'Adoption Day' on Sunday October 18 marks point at which Joint Comprehensive Plan of Action has been struck
Star Bulk disposes of two more vessels Sale of a 1997-built panamax and cancellation of a newbuilding under bareboat charter bring total fleet size to 88 vessels
Internationalist shipping undermined by nationalist regulators, says Lyras ICS vice-chair demands more consultation from European Commission
Juncker must deliver 'smart legislation', Ecsa leader demands Red tape reduces employment and can hurt environment, according to Thomas Rehder
India will provide 'flashes of light' for shipping, Salerno argues Modi reforms will see country take up slack left by China
Shanghai could be next Singapore, says Poulsen Chinese city endorsed by SSA head
Show me the money: Mixed fortunes Second quarter results show leading container lines have continued to prosper, others have bounced back, but some continue to flounder
Asia-Europe rates continue to tumble Freight rates to the Mediterranean from Asia sink to all-time lows, as those to north Europe fall perilously close
Ruscon defies Russia slowdown Box numbers up despite slowdown in Russian trade
FTA warns on box weighing Shippers need to get ready for new container weight rules now
Cosco Shipping posts $57.7m profits in nine months Company earnings were boosted by assets disposals and bunker savings
Taizhou Sanfu Shipbuilding agrees to discount on ultramaxes for quicker payment Precious Shipping has argued that the ships burned more fuel than promised, but yard says it made no promise on consumption
Shipping should reject migrant compensation, Grimaldi urges Taking payment would mean being seen as part of permanent solution
Clarity needed on payment as condition of hire question Astra and Spar decisions yield conflicting answers
APM Terminals takes full stake in Grup Maritim Agrees to acquire remaining 31% of Spanish ports group
Port of LA September container volumes fall year on year Numbers fell short of September 2014's strongest volume in the port's history
China Ocean Shipbuilding to buy carpark operator Acquisition is in line with the group's aim to diversify its existing business activities
St Lawrence Seaway volumes drop 12% Dry bulk shipments were up by 8% over 2014 but liquid bulk posted an 11% fall
Mersey Maritime confirms Shirling-Rooke as boss Successor to Jim Teasdale had already been acting chief executive for a year
Mombasa government seeks more fees from port users The Mombasa County government is trying to extract more fees from users of the Port of Mombasa at two points in the supply chain, which would further drive up shipping costs in East Africa's largest container gateway. The county government is seeking an additional $97 for every "branded" container and $29...
Hanjin continues divestment, sells South Korea terminal Hanjin Shipping, South Korea's largest container carrier, is continuing its strategy of divestment as it works to focus on the container shipping industry and improve its liquidity in a time of falling freight rates. Following the Nov. 30 divestment from its terminal operations in Gimpo, South Korea, the company will be...
What will IMO weight regulations mean for US exporters? As the industry catches is breath after the struggles on the West Coast, we are less than a year away from a potential new risk of long lines and more confusion across the U.S. That risk is the lack of clarity regarding the implementation of the IMO Solas Amendment (Chapter VI,...
KCS intermodal volumes, profits down in third quarter Falling intermodal volumes contributed to another weak quarter for Kansas City Southern Railway. KCS intermodal volumes fell 6 percent year-over-year in the third quarter, after growth slowed considerably in the quarters prior. Volume growth had fallen to just 2 percent in the second quarter of 2015 reversing a trend where volumes...
Crowley seeks exemption on Seafreight service contracts Crowley Maritime has asked asked the U.S. Federal Maritime Commission for an exemption from having to separately amend and refile approximately 500 service contracts that the carrier will assume with its recently announced acquisition of Seafreight Line. "It would be an undue burden on Crowley and the shipper parties to prepare...
UPS raises rates UPS has announced rate increases effective Dec. 28, 2015 that will raise costs for shippers using the services of the world's second-largest transportation provider. Ground service rates will increase an average of 4.9 percent, while air rates will rise an average of 5.2 percent as UPS raised rates on services like...
Trans-Pacific rates bounce along bottom in weak peak season Trans-Pacific spot rates for U.S. containerized imports showed mixed signals this week amid persistent signs of a tepid peak season for pre-holiday shipments. High inventory levels thrown out of whack by U.S. West Coast port delays earlier this year are depressing volumes during what normally is the height of the peak...
Overcapacity keeps trans-Atlantic rates in doldrums Increased vessel capacity continues to weigh on trans-Atlantic container spot rates, which this week remained near their lowest levels of the year, according to the World Container Index posted on JOC.com's Market Data Hub. Rotterdam-to-New York spot rates slipped to $2,079 per 40-foot equivalent unit from $2,095 a week ago, according...
Slide show: Fastest-growing global container ports Only one U.S. port made the JOC's list of the top 10 fastest-growing leading global container ports for 2014 - the Port of Savannah. All 10 ports on the list achieved year-over-year throughput growth of at least 10 percent. Of the JOC Top 50 world container ports, the port of...
Is $4B enough to solve Chicago's rail congestion? Credit: Richard HurdAfter more than a decade, nearly $4 billion worth of infrastructure improvements in Chicago are nearly complete. City, state and industry leaders say they are working, helping the city shake its reputation as the nation's longtime transportation bottleneck. There remain skeptics, though, that question whether any amount of capital...
Tuticorin Port sets up automated system to speed container movement Tuticorin PortShippers and ocean carriers using India's Tuticorin Port, or V.O. Chidamabaranar, may see significant productivity improvements in the coming months as logistics providers are introducing an automated system for the movement of containers to and from the harbor. The Tuticorin Container Freight Station Association this week signed an agreement with...
APM Terminals acquires full control of Spain's Grup Maritim TCV Valencia, Spain, now part of APM Terminals' portfolio.LONDON - APM Terminals has reached an agreement to buy the remaining 39 percent of Grup Maritm TCB, finalizing the $1 billion acquisition of the Spanish port operator and consolidating its position as the world's second-largest container terminal operator. The Maersk group's port...
Asia-Med spot rates plumbing new lows The Spanish Port of Algeciras.HONG KONG - Spot rates on the China-Mediterranean trade fell below $200 per 20-foot container for the first time, a level that is almost $1,000 lower than at the beginning of the year, according to the Shanghai Containerised Freight Index.The latest reading of the index showed...
No respite from falling volumes at Hong Kong port An aerial view of the container terminals in Hong Kong.HONG KONG - There was no let up for the port of Hong Kong in the month of September as container volumes fell for the 15th consecutive month.Figures just released by the Hong Kong Port Development Council show a 6.7 percent...
Asia-Med spot rates plumbing new lows The Spanish Port of Algeciras.HONG KONG - Spot rates on the China-Mediterranean trade fell below $200 per 20-foot container for the first time, a level that is almost $1,000 lower than at the beginning of the year, according to the Shanghai Containerised Freight Index.The latest reading of the index showed...
Long-term positives of TPP deal will be felt on trans-Pacific trade Vietnam's footwear production will benefit from the Trans-Pacific Partnership trade pact.SHENZHEN - The benefits of the recently agreed Trans-Pacific Partnership on Asia-U.S. trade will not be felt immediately, but the 11-nation deal will have an impact on volumes in the longer term, according to JOC senior economist Mario Moreno.In an...
Golar seals floater deal Golar LNG said its partners in a planned LNG export project in Cameroon have approved and signed the deal.
APM completes $1bn buy APM Terminals has struck an agreement to purchase the remaining 39% of rival terminal operator Grup Maritim TCB, cementing a $1bn takeover.
Hapag fills IPO book German container line said to have also covered overallotments on listing.
Incat adds 300 jobs Australian shipbuilder Incat is taking on another 300 workers as it tackles its 11-ship orderbook.
GOGL: not us John Fredriksen's Golden Ocean Group (GOGL) is not the buyer of the 115,000-dwt bulker Chiara (built 2011).
Cosco's Deng in new role Cosco Pacific has made a change in its executive director team that will see Jinhua Feng resign from his position.
Fortescue: demand strong Australian miner Fortescue Metals says demand for its iron ore remains strong despite weakening steel markets in China.
Wessels opts for LNG Wessels Reederei of Germany is changing the propulsion system on one of its boxships from heavy fuel oil to LNG.
Wessels gets into gas German owner uses state grant to retrofit boxship with LNG propulsion; more to follow.
Golden oldies? Or tarnished antiques? Safe as ships and strategies for survival in a soft market.
Thenamaris eyes S&P score Greek owner Thenamaris could be set for a tidy profit on an aframax tanker it bought only last year.
Cathay limits liability The Singapore high court has protected a domestic tug owner in a row with Wan Hai Lines over lost containers.
Paulli joins Frontline Former ST Shipping executive takes on senior post with John Fredriksen company in Singapore.
TT-Line at record high Australian ro-ro company TT-Line has posted record annual freight figures.
Farstad gets busy Oslo-listed offshore vessel owner wins series of contracts shortly after announcing five lay-ups.
Daiichi in $60.3m sale Debt-ridden shipowner Daiichi Chuo has sold off one of its prized shipping assets to a rival Japanese owner.
Younger capes scrapped Average ages of capesize bulkers sent for demolition has slipped below that of VLCCs for the first time in a number of years as the markets experience contrasting fortunes.
Petrobras wants PSVs Brazilian oil company Petrobras has issued a new tender for offshore vessels despite cancelling existing charters.
DeepOcean fixes newbuild Norwegian owner DeepOcean has won a second contract for its new cable-layer.
Golar on notice Nasdaq tells listed partnership it must replace ex-audit committee director Kate Blankenship.
Cheap oil lifts Rotterdam Europe's largest port is the latest company to benefit from the lower price of crude.
Exxon Valdez case closed The US and the State of Alaska have opted not to recover additional damages from Exxon Mobil in relation to the Exxon Valdez spill.
Where's China's spending? Chinese lending is surging but construction projects that help fuel bulker fixtures are not matching the growth as hoped, an analyst said.
MFM technology will make Singapore market fairer 'I hope players who don't care about reputation will leave.'
EU accused of confusion over scrubbers Shipowners representative claims EU is always seeking to add to international regulations.
New quick test for cat fines Allows testing onboard to make sure fuels with damaging cat fines don't enter the fuel system.
Bunker grade IFO is 'highly toxic waste' European parliament transport official says failure to establish EU wide ECA is a matter of 'sincere regret'.
Malik bolsters operations with new office, new hire Business has been 'expanding rapidly'.
UK terminal completes upgrade More storage capacity for fuel oil.
New lube compatible with 'range of sulphur levels' Total Lubmarine says sea trial results are 'very promising'.
Failed pirate attack could have been 'largest' fuel oil heist Fuel oil cargo valued at $21 million, according to Platts Bunkerworld prices.
Upgraded bunkering facility opens in the UK Terminal claims to be the 'second largest fuelling facility to the west of Greater London'.
Brightoil: Hopes up on e-commerce platform Brightoil Online will create a new petroleum consumption model, says CEO.
Total Lubmarine: 'Next generation' lube planned for 2016 Cylinder oil compatible with marine fuels of different sulphur levels on new engines, says spokesman.
Norway tests 'very promising' vessel communications tool Exercise involved vessels and a plane responding to an oil on water test.
Crude declines as US stockpiles surge Inventories climbed 7.56 million barrels last week, the most since April.
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