World's largest dual fuel ship makes maiden call at Zeebrugge United Arab Shipping Company's (UASC) 18,800 teu ultra-large container carrier (ULCC) Al Muraykh made its maiden call at APM Terminals Zeebrugge on its maiden voyage from Asia to Europe. The second of six 18,800 teu ULCCs ordered by UASC - the largest in the company's 56-vessel fleet - Al Muraykh
US seeks port congestion relief Dedicated freight corridors and closer co-operation among port authorities and the private sector are strategies the US government is promoting to tackle port congestion. The Draft National Freight Strategic Plan, released on 18 October by US Department of Transportation (DOT) secretary Anthony
New Canadian PM promises west coast tanker ban Canadian Liberal Leader Justin Trudeau, who swept to power in the 19 October national election, has promised to ban oil tankers in environmentally sensitive waters along the British Columbia coast. The son of a former prime minister, Trudeau promised a ban on tankers in the Dixon Entrance, Hecate
Vedanta resumes iron ore exports from India London-listed metals group Vedanta Resources has shipped iron ore from India for the first time in three years after the country's top court partially lifted a ban on mining exports earlier this year. 88,000 tonnes of iron ore was shipped on the vessel Ao Hong Ma to China on 19 October. Vedanta's
KLC face stable future Korea Line Corporation (KLC) is not expected to face difficulties again as its portfolio of long-term shipping contracts has insulated it against the drop in charter rates, an analyst has concluded. KLC went into receivership in February 2011 after taking in too many bulkers at high charter rates.
Daehan Shipbuilding emerges from rehabilitation South Korean shipbuilder Daehan Shipbuilding has come out of corporate rehabilitation just over a year after falling into difficulties. On 19 October, the Seoul Central District Court granted the shipbuilder's application to complete rehabilitation as it had paid off all debts for 2014. Daehan, a
MISC galvanised by tanker revival Malaysian carrier MISC is expected to achieve higher profits for 2015 as oil tanker rates have hit its highest levels since 2010. Very large crude carrier (VLCC) daily rates have crossed the USD100,000 mark as the drop in oil prices has encouraged demand. The resulting fall in bunker prices has
MMC Corp to acquire NCB stake for USD256.7 million Malaysia-listed port operator MMC Corp has proposed to acquire 53.42% equity interest in NCB Holdings (NCB), formerly known as Northport Corporation for MYR1.1 billion (USD256.7 million). The deal would be done through MMC Corp's subsidiary, MMC Port Holdings, to enter into a conditional sale of
PortMiami expects to benefit from Panama expansion The Port of Miami expects its share of trade with Asia will increase by about 15% following the opening of the USD5.25 billion extension to the Panama Canal next year. "After the extension to the Panama Canal opens, south east United States will capture up to 400,000 additional moves and this makes
US dredge operator weighing options NASDAQ-listed Great Lakes Dredge & Dock (GLDD) may be considering a sale or merger based on information filed with financial regulators. In a statement filed with the US Securities and Exchange Commission on 16 October, GLDD, the Oak Brook, Illinois-based dredging contractor, said it had "initiated
Chinese board and paper exports to rise Global flows of board and paper in ocean containers will continue to diversify over the coming years as China ramps up its export liftings, a leading pulp and paper conference in Bremen, Germany, heard today. Paper exports from China are expected to reach 5 million tonnes per annum over the next
China VLCC sells two vessels for $133m China VLCC, a joint venture between China Merchants Energy Shipping (CMES) and Sinotrans, has sold two secondhand very large crude carriers (VLCCs) for USD133 million. The 297,600 dwt and 297,400 dwt vessels were sold to two Marshall Island-registered companies, Tilos Shipping Corporation and Delos
MPA forms work group to promote more listings on SGX The Maritime Port Authority of Singapore (MPA) has formed a working group to promote more maritime listings on the Singapore Stock Exchange (SGX). The work group, which also includes members of the Singapore Shipping Association (SSA) and SGX, aims to make Singapore a leading maritime financial
Triyards FY 2015 profit improves Singapore-listed offshore services provider Triyards Holdings posted a gross profit of USD60 million for financial year (FY) 2015, up 16% from a year ago. The increase in gross profit was driven by higher margin from certain industrial and offshore fabrication projects. Despite posting a higher
EMAS Offshore profit up sevenfold in FY 2015 Singapore-listed offshore services provider EMAS Offshore posted a net profit of USD199.5 million for financial year (FY) 2015, up almost sevenfold from a year ago. The positive net profit is partly lifted by an USD154.7 million negative goodwill arising from the consolidation of EMAS Marine into
German states take distressed shipping debt German state bank HSH Nordbank, once the world's biggest ship mortgage lender, has obtained permission from the European Commission to transfer a large share of its non-performing loan portfolio to its public shareholders. The plan was agreed on between the European commission, the mayor of Hamburg
Meiji Shipping expands oil tanker fleet with newbuildings due early 2016 New ships will support Meiji's drive to charter more vessels to the oil majors as well as smaller oil companies
Lloyd's Register appoints Mark Darley as Americas regional marine manager The 15-year veteran served in various operational and business roles with the group
Britannia waives extra 2.5% for 2014/2015 policy Move comes on top of earlier 5% waiver
US Navy sends ocean tug to search for El Faro wreckage Voyage data recorder is expected to be retrieved if search goes well
Panalpina feels brunt of Asia-Europe volatility Low demand on key trade results in negative box growth in the third quarter
Dover volumes rise despite summer troubles Port expects to break records after summer of strikes
HSH rescue: apocalypse not now But troubled bank only off the hook for half its shipping-led toxic assets
Suezmax rates stabilise around $40,000 a day Healthy European crude imports support sentiment after volatile September
Amsterdam sea lock gets $567m PPP backing Project will improve capacity and access to port
G6 withdraws even more Asia-Europe capacity Consortia increases number of void sailings in the winter months from 10 to 14
UK Court of Appeal issues judgment on collision cases Owners out of pocket while cases climb through courts
Mixed fortunes for transatlantic traders Strong US economy continues to boost westbound traffic as Eurozone woes stunt growth in eastbound volumes
HSH Nordbank to offload billions of dollars of toxic shipping debt Rescue deal means huge hit for German taxpayers
Port of Rizhao posts weaker results amid bearish dry bulk market Northern China port faces stiff competition from neighbouring ports
Triyards wins $100m in orders New contracts significantly added to orderbook amid challenging shipyard environment
Daiichi Chuo sale worsens sentiment in secondhand bulker markets Japanese operator expected to put more vessels on the block in coming months
SIPG looks to raise $1.6bn from bond sale Funds from corporate bond issue earmarked for working capital and debt repayment
Southeast Asia maritime crime sharply higher in first nine months of 2015 Singapore Strait identified as key area for increased vigilance, says Dryad Maritime
Indonesia cabotage laws stand in the way of Maersk's expansion plan Regulations state only locally-controlled shipping firms can move cargo between islands in the archipelago
ABN Amro joins Team Tankers loan facility Total loan facility size rises to $150m comprising a $100m term loan and revolving credit facility of $50m
Bourbon reports first half net loss amid tough offshore environment Results were primarily impacted by foreign exchange differences, the company says
Dedicated demand drives Marten Transport profit, revenue Substantially lower fuel surcharges checked revenue growth and concealed a relatively healthy truckload and thriving dedicated freight business in the third quarter at Marten Transport. The refrigerated trucking company's operating revenue dropped by $300,000 from a year ago to $171.3 million in the quarter, thanks mostly to a $14.2 million year-over-year...
Georgia Ports Authority to invest heavily in Brunswick port The Georgia Ports Authority plans to invest $152 million in capital improvements at the port of Brunswick, including construction of a new roll-on, roll-off berth, during the next decade. The planned investment will be triple the $46.2 million the GPA has put into infrastructure upgrades at Brunswick during the last 10...
US investigators: El Faro captain reported 'hull breach' before sinking NTSB investigators approach the El Faro's sister ship, El Yunque, as part of their investigation.The doomed cargo ship El Faro reported a "hull breach" and was 20 miles from the eye of Hurricane Joachin when it was last heard from before sinking with the loss of its 33-member crew, the...
CP domestic intermodal push loses steam Canadian Pacific Railway's domestic intermodal push seems to have lost its steam. The shipment of domestic intermodal containers on a year-over-year basis dropped in the third quarter for the first time in more than a year. Modest international volume gains weren't enough to offset the setback in the domestic business, nor the...
Colombo breaks through as South Asia's next big transshipment port COLOMBO, Sri Lanka - When the CMA CGM Marco Polo - until 2013 the world's largest container ship with a capacity of 16,020 twenty-foot-equivalent units - arrived in Colombo in late September, it highlighted the port's emergence as a growing transshipment hub capable of handling the increasing number of mega-ships...
NY-NJ port considers 'all options' on truck replacement The Port Authority of New York and New Jersey is "considering all options" for replacing thousands of older trucks in order to meet a fast-approaching deadline under the port's clean-air plan, a spokesman said. The port authority released details Tuesday on how truckers can apply for $2 million in federal grants...
Northwest Seaport Alliance volume rises Total international containers handled by the Northwest Seaport Alliance increased 3.7 percent in September from the same month last year as the ports of Seattle and Tacoma continue to regain traffic lost earlier in the year due to port congestion and labor disruptions associated with the coastwide longshore contract negotiations. International...
Second Arrow Trucking executive sentenced to prison The former chief financial officer of Arrow Trucking was sentenced to nearly three years in prison for his part in a scheme to defraud the Internal Revenue Service and a Utah-based commercial bank. Jonathan Leland Moore, 38, who pleaded guilty last December, was sentenced to 35 months in prison for participating...
German forwarder launches project/breakbulk carrier Multipurpose carriers face fresh competition from the Press family's return to the shipping sector with the new company d.ship Carriers. The German freight-forwarding dynasty owns global project forwarding group deugro. With chartering and technical offices in Bremen, Houston, Singapore, and Tokyo, d.ship will operate as a separate entity alongside deugro, which controls...
US for-hire truck tonnage rising, despite high inventories U.S. truck tonnage increased in September, climbing 0.7 percent from August and 3.1 percent year-over-year, the American Trucking Associations said. High U.S. inventories, however, remain a drag on trucking demand, and the driver shortage places a cap on capacity expansion. "I remain concerned about the high level of inventories throughout the...
Largest Russian rail operator seeks to cut container costs, transit times Russian railway monopoly RZD is working to stop the flow of containerized cargo to other modes of transportation. The company is seeking to lower prices and reduce costs and transit times through a variety of measures. The strategy has its origin mainly in the recent management shuffle at RZD and the...
Executives: products tanker market healthy Trio of clean tanker bosses see balanced market despite decline in day rates.
NTSB reveals new details on El Faro loss El Faro master vessel reported mountain of problems just 17 minutes before last known position.
Su denies Brazil charge Today Makes Tomorrow (TMT) chairman rejects allegations of corruption and misconduct.
Navios linked to double VLCC buy Angeliki Frangou's Navios Acquisition tipped as the owner talking China VLCC duo for $133m.
Britannia seeks 2.5% increase Wealthy Nigel Palmer led P&I club gives with one hand as it takes with another.
Saverys' CMB buyout launches this week Shareholders in Belgium firm to begin tendering shares in Saverys buyout
Dorian to get 'friendlier' Euro Pacific Capital trims estimates for US-listed LPG carrier owner but says dividend may be ahead.
Indonesian yards win $39m order Three shipbuilders to construct eight buoy tender and lighthouse ships for government.
Avance "still a steal" Red-hot VLGC market is expected to lift the Oslo-listed gas carrier owner for another quarter.
ATSB: "inadequate maintenance" Australian report finds poor condition of Shih Wei bulker's anchor gear caused smash with tanker.
KfW funds Dutch lock A consortium of banks provides $568m loan for new sea gate that gives access to Amsterdam.
CLIA: Cruiseship demand grows again Industry body says vessels are carrying 68% more passengers than 10 years ago.
Huge loan fails to spark GasLog share price New York-listed owner sees shares slip back as market selloff overpowers news of newbuilding funds.
Gotland gets better Swedish owner boosted by products tankers and ship sales in first eight months.
Jo Spirit refloated Tanker that grounded yesterday has moved under own its power in St Lawrence Seaway.
Vroon trio scrapped Dutch owner sends ERRVs to Danish breaker as part of offshore fleet rationalisation plans.
Drunk captain jailed Master of German cargoship gets 20 days for 2014 dock collision in Aalborg.
Woodside deals trims Siem's spot exposure One of Oslo-listed owner's anchor handlers is heading to Australia having secured a rare period contract.
Cosco Corp wins $150m order for three ships Singapore-listed company to build one products tanker and two cargo transfer vessels.
Cabotage conundrum Indonesia says its restrictions on foreign ownership holding back Maersk Line's $3bn investment plan.
Second lawsuit for TOTE Wife of one of 33 seafarers from sunken El Faro takes legal action against US owner.
DSME starts Doosan sale Bankers say loss-making yard trying to raise $20m from offloading stake in engine maker.
Hyundai Merchant wins $176.8m reprieve Korea Development Bank extends maturity on major facility until after Hyundai Securities shares are sold.
Siem board stays neutral on takeover Oslo-listed owner decides against clear recommendation to shareholders on takeover offer.
One dead, one missing in crane collapse Two other men seriously injured in accident at Longshan Shipyard in China.
Ferry duo for Cochin Indian shipyard to build two double-ended ro-ro vessels for regional government.
HSH Nordbank to be sold off by state owners State owners have two years to privatise German shipping lender after it reaches restructuring deal with EU; will sell $9bn of assets.
Rum ship runs aground Main engine failure aboard Jo Tankers vessel reported to be responsible for collision in Canada.
ABC books chem trio Swiss manager goes to Ho Chi Minh shipyard for vessels designed for colder climates.
Triyards profit surges Offshore woes fail to impact Singapore-listed shipyard group as it posts stellar Q4.
EMAS ties up OSV trio Oslo and Singapore-listed company boosted by goodwill and sale and leasebacks.
Five vessels detained for illegal bunkering Ships discovered loading 108,000 litres of diesel fuel onto barges.
Egypt considers more flexibility for bunker market State-controlled energy company EGPC wants to improve the efficiency of the country's bunker market.'
Market 'awash with fuel oil' Refineries keep runs high to exploit low crude price.
Certificate for gas-powered box ship Plying US waters.
LNG bunkering project could get new, controlling investor Stolt-Nielsen buys stake in infrastructure developer.
Salvage work resumes on Flinterstar 150 mt remains in ship's fuel tanks.
Certificate for gas-powered, boxship Plying US waters.
APT christens first 'eco' tanker Vessel features LNG-conversion-ready design.
'Unregulated' coal ship pollution highlights inconsistencies Bulkers calling at coal port are emitting twice as much SOx as cruise ships in Sydney harbour.
Invention aims to lower sulphur content of bunker fuel Patent filed in US on novel method to reduce contaminants.
Greek shipowner launches LNG propulsion study Research seeks to develop retrofitting solutions and a new bulk carrier design.
Tanker collision causes bunker spill Owner of the vessels are Daiichi Tanker and Heiwa Kaiun, according to a shipping database.
LNG bunkering project could get new, contolling investor Stolt-Nielsen buys stake in infrastructure developer.
Russian supplier completes fuel delivery contract Bunker delivery to the sixth and final vessel took place on October 18, says Lukoil-Bunker.
More changes within Titan Petrochemicals Two board members given new responsibilities.
Shipyard to build Scottish LNG-fuelled ferries for $150 million Deal was finalised over the weekend.
UASC celebrates 'eco' vessel delivery Event held with 'financing partners' to acknowledge firm's newbuilding programme.
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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