LA box traffic slides in June Trade volume moving through Los Angeles-area box terminals fell 6.2% in June as America's largest container port complex prepares for the peak shipping season. Combined imports at the ports of LA and Long Beach fell 3.6% year-on-year during the month to 368,708 teu, while combined exports dropped
Filipino fishermen rescued by MOL bulker Three Filipino fishermen have been rescued after being found clinging to driftwood in the sea 165 km east of Mindanao in the Philippines. Mitsui OSK Lines bulk carrier Spring Zephyr was returning from Port Walcott, in Australia's Pilbara region, to Port Oita in Japan on 5 July when the three men
Tirrenia freezes tariffs on Sardinian routes The new chief executive of the former Italian state-owned ferry company Tirrenia has responded to fears about the recent buyout by private ferry operator Vincenzo Onorato by assuring shippers that cargo tariffs will be frozen for at least the rest of this year. Since the 100% buyout in early July,
Mombasa Port waives storage fees Kenya Ports Authority has said it will not charge storage fees that accrued as a result of delays in cargo clearance during recent industrial action by dockworkers. Mombasa port managing director Gichiri Ndua said the authority would not charge exporters and importers because they were not the
Sainty Marine braces to refund owner for non-delivery Shenzhen-listed shipbuilder and trader Sainty Marine has revealed that Norway's Boa Offshore could demand a USD84 million refund on two long-delayed platform supply vessels (PSVs). In a filing to the stock exchange on 17 July, the shipbuilder acknowledged that Boa Offshore was likely to claim the
Woodside revenue plunges 46.5% Australia's Woodside yesterday reported a 46.5% drop in revenue in the second quarter ending June 30 to USD898 million. This is almost half of the USD1.7 billion for the same time last year. Sales dropped 18.4% from 23.9 million barrels of oil equivalent (MMboe) to 19.5 MMboe, as oil and gas prices
Sinopacific wins bid for 9 AHTS vessels Sinopacific Shipbuilding Group (Sinopacific) has won the bid for the construction of nine anchor handling tug supply (AHTS) offshore vessels for Abu Dhabi National Oil Company (ADNOC) and its wholly owned subsidiary, ESNAAD. Sinopacific will deliver all the newbuildings in 2017, Sinopacific said on
Summa pulls out of $1 bn tank terminal project The port of Rotterdam's plans to develop a USD1 billion tank terminal for Russian oil and oil products have unexpectedly fallen through due to doubts about the feasibility of the project on the part of its Russian partner Shtandart TT and its parent, the Summa Group. The port and Summa said in a
Could VLCCs finally reach $100,000 per day? Milestone last achieved seven years ago
View from the Bridge: Cecilia Eckelmann-Battistello Contship Italia boss talks about her upbringing, succession planning, being married to a German, her love of colour, the Mafia, and her plans for the company
Transpacific rates slump to lowest level in years Freight rates to the east coast and west coast of the US reach post-crisis lows as peak season surcharges are scrapped
Long Beach volumes flat as Charleston heads higher Move away from US west coast ports to eastern rivals is still in full force
Bring it on: contract renewals mark a time for change Shippers have been too quick to acquiesce to carriers' contract terms. Now is the time to change that
Lull descends on suezmax spot rates Rises expected once August loading programme gets in full swing over next few days
Pankow out at KG house Ownership Founder departs after admitting German market for shipping funds has seized up
Evergas keen to pursue several different gas markets, says Jacobsen But large LNG carriers are not on the Copenhagen-based owner's agenda
Alliances boost Antwerp throughput in first half Box handling shows first-half increase of nearly 10%
Overcapacity forces further job cuts, this time at Wärtsilä Finnish engine manufacturer is the latest marine equipment supplier to slash headcount in response to sluggish orders and low oil prices
Samsung Heavy Industries joins its peers in share price rout Local press reports expected loss of Won1tr in second quarter, two days after DSME confirmed second-quarter losses
Jump in Southeast Asian piracy Incidents are up 18%, according to ReCaap
Japanese orders for export spike in June, prompted by onset of new rules in July Bulker and tanker orders were highest since the beginning of the calendar year
Capesize markets stay resilient Positive week for capes sets expectations for improved final quarter
Navios secures cape bulker deal In a tough market, Navios is looking to a cape charter deal to strengthen its position
NOL merger talk heats up again Temasek Holdings has reportedly put APL owner up for sale
Facilities upgrade for Port Hedland Aging control tower will be demolished as part of a programme to improve facilities at Australia's largest dry bulk terminal
Sinopacific to build nine anchor handlers for Abu Dhabi National Oil Co The 1,900 dwt ships are scheduled for delivery in 2017
Machinists union challenges ILWU work in Long Beach A union representing machinists is challenging the Long Beach Harbor Commission over a requirement that maintenance and repair work associated with the port's proposed peak-season chassis pool be performed by International Longshore and Warehouse Union mechanics. This is the second challenge this week to attempts by the ILWU to exert jurisdictional...
Below-par service costs KCS intermodal business Kansas City Southern Railway's admittedly below-par intermodal rail service lost the company business, particularly highly-prized auto business, to other railroads and the trucking sector, executives said Friday on a second-quarter earnings call. The admission comes ahead of the opening of a slate of auto manufacturing plants in Mexico that KCS hopes...
J.B. Hunt profit leaps upward, despite drop in revenue The West Coast port crisis, which officially ended months ago, apparently is still affecting companies far from Los Angeles and Long Beach. J.B. Hunt Transport Services in part blamed slower intermodal volume growth in the second quarter on "the lingering effects of disruptive shipping patterns due to the West Coast...
Hapag-Lloyd restructures West Africa services We are pleased to inform you that Hapag-Lloyd will restructure the existing West Africa Service Network, currently comprising of our West Africa Express Loops, WAX1 and WAX2. Hapag-Lloyd is committed to the West African Trade and your valued business and we will continue to offer you a reliable as well as...
ATA reveals 2015 National Truck Driver Appreciation Week logo Arlington, Va. - Today, American Trucking Associations unveiled the 2015 National Truck Driver Appreciation Week logo and announced it has opened a new online store for NTDAW merchandise. "National Truck Driver Appreciation Week is a tremendous tradition, one that ATA is proud to carry on each year," said ATA President...
Yusen Logistics and Xerox extend cooperation in the Benelux As part of the new contract, Yusen Logistics will now provide warehousing, pre-assembly, transport preparation and "copy-ready" delivery services for innovative Xerox document management devices, including copying, printing and multifunctional equipment. These services, as well as administration, order processing, customer liaison and transportation planning, will take place at the Yusen...
West Coast chassis lessor refuses to pay for ILWU inspections TRAC Intermodal, one of the largest chassis-leasing companies on the West Coast, threw a monkey wrench into a controversial clause in the new International Longshore and Warehouse Union contract by refusing to pay for mandatory roadability inspections by the union. In a letter Wednesday to several marine terminal operators, TRAC said...
Brazilian chicken exporters taking up US slack Port of ItajaiChicken exports from Brazil are forecast to grow by at least 5 percent this year thanks partly to the blow the Avian flu has dealt to their U.S. competitors, according to the Brazilian Association of Animal Protein (ABPA). ABPA expects Brazilian chicken exports to total 4.3 million metric tons...
Russia's Transcontainer to expand container terminal network Transcontainer, Russia's largest container rail shipping company, has had to adjust its plans to significantly expand its terminal network during the next several years as sanctions continue to take their toll on the Russian economy. A key component of Transcontainer's plans will be the purchase of the Logistics-Terminal, an inland intermodal...
Truckers: NY-NJ chassis restrictions jeopardize 'gray' pool An organization of New York-New Jersey drayage companies said a chassis lessor's new policy restricting use of its equipment casts fresh doubt on efforts to create a port-wide "gray" pool of interchangeable chassis. The Association of Bi-State Motor Carriers responded to Direct ChassisLink Inc.'s plan to allow its chassis to be...
Intermodal growth slowdown contributes to KCS profit decline Kansas City Southern Railway profit dropped 13.9 percent in the second quarter of 2015, amid slowing intermodal volume growth which fell to 2 percent year-over-year in the last quarter. It's a loss, however, that railroad executives owed more to the stronger U.S. dollar and lower fuel prices than to slowing intermodal...
Chinese economy forecast to slow despite consumer market growth Port of Hong KongChina's annual economic growth will continue to slow over the next 15 years as its population ages and growth shifts from being driven by exports to a full-fledged consumer market. China's GDP, which will grow by 6.5 percent this year and 6.3 percent next year, will slow to...
IMO cracking down on container weights Until the introduction of the container in the late 1950s, a ship captain largely knew what cargo was on his ship. All he had to do was watch the cargo being loaded, because it was there in plain sight being slung over the gunwale and into the hold. The container fundamentally...
Mombasa port investment pays as volume jumps The Port of Mombasa saw its container traffic grow by double digits in the first half of the year for the second straight year, suggesting that its investment in new container terminals, one of which opened in 2013, is already paying dividends. Kenya Ports Authority managing director Gichiri Ndua told The...
MOL details rescue of three near Philippines Mitsui O.S.K. Lines' Spring Zephyr pulled three people from the seas off the coast of the Philippine island of Mindanao. The rescue took place July 5, but MOL only revealed the incident July 17. After the crew spotted the three individuals clinging desperately to driftwood 102 miles east of Mindanao around...
Latest NOL sale reports get industry talking HONG KONG - There was plenty of "no comment" but no outright denials following reports that Singapore's Neptune Orient Lines (NOL) was up for sale, suggesting that the carrier could very much be on the block.Temasek, the state investment arm of Singapore, owns 65 percent of NOL that it reportedly...
Long Beach volume down in June Container volume at the Port of Long Beach in June declined 4.4 percent from June 2014, with loaded import containers down 6 percent and loaded exports dropping 8.4 percent. Empty containers, mostly destined for Asia, increased 2.4 percent, according to numbers posted on the port's website. Click to EnlargeJune's performance at...
APMT Mumbai: We are working to tackle ship delays Gateway Terminals India, or APMT Mumbai, said it is taking all necessary steps to restore normalcy to the terminal and bring ship calls back on schedule. "We are continuously working with our customers to get their services back on the original schedule," a GTI official told JOC.com. Long berthing delays at Nhava...
Indian exports continue slide India's exports fell for the seventh successive month in June, a serious setback for New Delhi's long-term goal of doubling its global outbound trade over the next five years. Exports in June plunged 15.8 percent from a year earlier to $22.3 billion, following a 20.2 percent year-over-year decline in May, according...
Beijing steps in to stimulate weak export business HONG KONG - China's government has never been slow to pile into its markets and even as improving June exports halted a three-month decline, Beijing this week issued a package of support measures for the industry.These include improving customs clearance efficiency at the country's busy ports, regulating administrative and service...
Elusive peak season drags trans-Pacific rates to record low Port of Long Beach.HONG KONG - There is still no sign of peak season demand well into July, with freight rates on the trans-Pacific hitting their lowest level of the year and Asia-Europe prices continuing to slide, despite capacity withdrawals and cancelled sailings.Asia-U.S. West Coast spot rates dropped 8 percent...
China demand driving Australian wine export business HONG KONG - Australia's wine industry has reported a 32 percent increase in the value of its wine exports to China in the past year, a trade that was worth more than $200 million in the 2014-15 financial year that ended on June 30.Wine Australia, funded by grape growers and...
DCLI announces 'temporary' NY-NJ chassis restrictions Direct ChassisLink Inc. said it is temporarily restricting use of its intermodal chassis in the New York-New Jersey area to truckers hauling containers for three of DCLI's main ocean carrier customers. In a notice to truckers Thursday, the company said that effective July 24, any motor carrier using a DCLI chassis...
LA port staff urge next chapter in zero-emission effort Port of Los Angeles staff is recommending that the port authority embark upon a five-year action plan to advance the development of zero-emission technologies for use in marine terminal yard tractors and for short-haul drayage to off-dock facilities such as intermodal rail yards. The port's Draft Zero Emission White Paper lays...
Shipping ministers survive Greek cabinet purge The two Greek ministers in charge of shipping have kept their posts in a cabinet reshuffle announced on Friday by the country's prime minister, Alexis Tsipras.
Genco merger sealed Genco Shipping & Trading and Baltic Trading have completed a deal to merge the two Peter Georgiopoulos-led bulker owners.
Thenamaris cape fixed Thenamaris has secured period work for one of its capesize bulkers.
Nigeria bans ton of tankers Nigeria's national oil company has banned over 100 tankers from using the country's terminals and sailing in Nigerian waters.
Tufton takes suezmax twins UK investor flagged as the buyer of two Konig & Cie tankers that have been widely marketed.
Down but not out PSV rates have again dipped as low as £3,000 per day in the North Sea, but market now sold out.
Rio Tinto shipping less Australian miner Rio Tinto says it will ship less iron ore this year after bad weather hit its Pilbara operations.
USSC names new COO Shipping industry veteran Sam Cermack takes leading role in US tanker and tug owner.
Double for Diamantides Diamantis Diamantides has dipped into the dry cargo sale and purchase market to add a couple of vessels from Hanjin Shipping.
Antwerp adds tonnage The key Belgian port of Antwerp handled 6.4% more cargo in the first half.
P&O adds Channel capacity P&O Ferries has moved quickly to fill the gap created by turmoil in the English Channel as it decided to deploy another vessel on the Dover-Calais route.
Jefferies ups tanker view Jefferies has pushed up its tanker forecasts ahead of the second quarter results season as OPEC actions continue to boost the market.
DSME maintains order lead Troubled Korean shipbuilder DSME still has the biggest order backlog among global yards.
Kyoei raises its sights Japan's Kyoei Tanker has jacked up its profit forecast for the financial year.
Greek ferry takes a hit A passenger ferry owned by Greece's Anek Lines has been left with a small gash to its stern following an accident at the small island of Anafi.
SHI stock slumps Shares in Samsung Heavy Industries were beaten down today following reports in South Korea that it is heading for heavy second quarter losses.
Mysterious times We take a look at what was said in the market over the past week.
BDI bursts past 1,000 points Dry cargo rates have set year-to-date highs as the Baltic Dry Index moves past 1,000 points for the first time in 2015.
Ensco delays SHI drillship US drilling rig owner also sees major contract cancelled, but it will receive compensation.
Wilson offloads veteran Norway's Wilson has sold an elderly bulk carrier to Greek interests for $715,000.
Wartsila to sack 600 Finnish engine builder says job losses are a reflection of the weak market situation.
MPA plans job taskforces Singapore has set up two taskforces to try and encourage more citizens to take up careers in the maritime industries.
SG plans job taskforces Singapore pushing ahead with efforts to expand and develop strong core of maritime talent.
Nam Cheong sells bonds Singapore-listed OSV shipbuilder to put funds towards repaying notes due for redemption.
Crude: 'Oversupply will be tough to absorb' 'The bottom of the market may still be ahead,' says IEA.
SOx levels plummet in wake of ECA rule change Tighter rules have boosted air quality for hub port.
Top five spenders buying young vessels Gener8 Maritime bought 14 vessels in the second hand market during H1 with an average age of -1.13 years.
Rotterdam fuel oil throughput up by 50% Number of vessels calling at the port climbs for the first time in five years.
Wartsila: 'Sluggish' marine market prompts restructuring Company to slash 600 jobs as part of move.
Poten: LNG bunker prices will be derived from existing markets Bunker market unlikely to upset traditional LNG pricing structures, Consultant tells Bunkerworld.
Explosion at Chinese fuel oil refinery Refinery operated by China's 'largest' marine fuel producer.
Iranian oil tanker reportedly destined for Asia Vessel was reportedly used for offshore oil storage since December.
Bunker spill detected at Australian port city Spill suspected to have occurred during a military exercise.
Poten: LNG marine fuel to be backstopped by gas hubs Bunker market unlikely to upset traditional LNG pricing structures, Consultant tells Bunkerworld.
Engine problem halts debut of European LNG-fuelled ferry Issues occurred days before vessel's maiden voyage.
Iranian oil ship reportedly destined for Asia Vessel was reportedly used for offshore oil storage since December.
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