Alliance orders five LNG carriers China LNG Shipping (CLNG), Greek shipowner Dynagas, and Sinotrans Shipping have forged a USD1.59 billion deal to order five arctic LNG carriers for the Yamal LNG project. The three parties will take a 25.5%, 49%, and 25.5% stake, respectively, in the vessels, according to a 21 September stock
Bolloré to expand Freetown terminal France's Bolloré group will invest USD120 million to extend the container terminal in the port of Freetown, Sierra Leone. The group, which has been managing the existing terminal since 2011, announced plans to build a 270 m quay to accommodate vessels drawing up to 13 m and a 3.5 ha storage yard
Tanker owners probed for Ulsan breach Twenty-six people, comprising the masters and owners of 13 oil and chemical tankers and their relevant company officials, have been charged with violating the Maritime Safety Act. The Ulsan Coast Guard is investigating the owners for their suspected failure to comply with safety regulations after
Maersk orders nine MR tankers Maersk Tankers, the product tanker unit in the AP Moller-Maersk group of Denmark, says it has ordered nine medium-range (MR) vessels from the Samsung Heavy Industries Ningbo shipyard in China. "The order, with a contract value of approximately USD300 million, is for nine MR vessels with a capacity
AMSA bans fifth vessel from Australian shores The Australian Maritime Safety Authority (AMSA) has banned its fifth vessel from Australian ports for "serious and repetitive failings in the vessel's operations and maintenance", it reported on 21 September. Indonesian-flagged general cargo vessel Noah Satu (IMO9313620) has been refused entry to
CMES receives $116m in government subsidies China Merchants Energy Shipping (CMES) has received a total of CNY741 million (USD116 million) in government subsidies granted for demolitions of old tonnage and fleet renewals. The government subsidies will be positive for the company's full-year results in 2015, a stock filing of CMES said.
Euroseas raises $10.6m in rights offering Euroseas has raised sufficient funds to pay for the delivery of its first three newbuilding vessels
Greek shipowners await next act in Tsipras drama FREE CONTENT: Industry tries to read the runes after leftist leader's re-election triumph
IMO warns of dangers in carrying liquefied bauxite after deaths International Maritime Organisation issues warning based on findings of investigation into sinking of vessel earlier this year
Sea Traders takes eight Chinese-built bulkers at $68m Greek owner continues bargain-hunting by snapping up five supramaxes and three panamaxes
Tote Maritime completes internal reorganisation Jones Act operator is looking to switch its vessels to run on natural gas
Record Iraqi cargoes injects new life into spot VLCCs A $20,000 rise in spot earnings level, but pace of rise set to slow as charterers to step back
Dynagas joins with CLNG and Sinotrans to order five Yamal LNG carriers Total cost of newbuildings amounts to nearly $1.6bn
Sharp rise in charges at more South Pacific ports Swire calls on Solomon Islands authorities for immediate review of increases
Sierra Leone box terminal set for major expansion Bolloré plans to increase Freetown container terminal's capacity nearly eightfold by 2018
Phoenix orders two midsize LPG carriers at HHI Move, which includes option for third vessels, is a first for the owner in the gas trades
Containership industry urged to prepare for inevitable casualty New salvage company backed by Maersk and Crowley seeks industry support for emergency response plan
Teekay Australia adds 12 bulk carriers to managed fleet New business is logical extension of TKA's experience as third-party managers of BHP Billiton capesize bulkers
GAIL reissues tender to charter nine LNG ships Tender's revised terms allow local shipyards to own up to 13% stakes in three LNG carriers to be built in India
AMSA bars vessel from Australian ports for three months Indonesian flagged vessel had previously been detained by Australian maritime authorities four times since August 2013
Shanhaiguan Shipbuilding secures order for up to six boxships Yard signs contract with Dalian Port subsidiary
ABB orders cable laying vessel from Kleven Newbuilding will boost capacity of its submarine cable operations
Ceona goes into administration Subsea contractor files for bankruptcy
Star Bulk sells supramax vessel in sale and lease back transaction Star Bulk has completed the sale of the 2012-built supramax Maiden Voyage with a two-year charter-back attached
IMO to mark World Maritime Day with education symposium Industry and academia to discuss education and training at IMO HQ
Virginia Port Authority wins concession to keep operating growing Richmond port The Virginia Port Authority will continue to operate the Port of Richmond after the city awarded the VPA a 40-year concession of the inland port on the James River. Richmond is served by a thrice-weekly barge service from the VPA's Hampton Roads terminal. The barge service provides an alternative to trucks...
Savannah port volume growth deceleration points to weaker West Coast diversions Container volumes at the Port of Savannah rose 4.4 percent in August from the same period in 2014, an indication that the torrid pace of 10 to 27 percent year-over-year growth rates experienced in previous months could moderate as shippers return to the West Coast. Now that trade patterns are returning...
PMA's McKenna: West Coast port bargaining needs changes FORT LAUDERDALE, Florida - The head of the Pacific Maritime Association raised the possibility of a contract extension or an early start to the next round of West Coast longshore contract talks, and said current bargaining practices are "not sustainable." PMA President and CEO James McKenna said the PMA and International...
Bollore plans to octuple Freetown terminal capacity The Bolloré Group plans to spend $120 million to octuple the annual capacity of its container terminal in the port of Freetown, Sierra Leone, to 750,000 twenty-foot equivalents after volume rose 30 percent over the last four years. In addition to boosting annual capacity of the terminal from 90,000 TEUs, the...
Carriers will struggle to sustain first-half profitability LONDON - Ocean carriers will struggle to sustain the level of profitability achieved in the first half of the year as falling freight rates blunt the impact of lower fuel prices, according to Drewry Maritime Research. "Revenues at virtually every major carrier were down at the half way stage of the...
Express parcels industry under pressure 'as never before' - report LONDON - The express parcels industry is coming under pressure "as never before" as e-retailing, technological disruption and macro-economic upheaval drive fundamental changes in the market, according to a leading logistics consultancy. The massive growth of e-retail volumes has characterized the express sector in 2015, leading to more sophisticated delivery strategies...
Long-delayed NY-NJ chassis pool 'making progress' Organizers of a planned universal pool of interchangeable chassis at the Port of New York and New Jersey say they're moving closer to completing a devilishly complex job that's dragged on for more than a year. "We are definitely making progress, and there certainly is a will to get this done....
No let up in demand for direct LCL services on Asia-US trades HONG KONG - Steady demand from shippers for weekly less-than-container-load consignments between Asia and the U.S. continues to push NVOCCs and forwarders to launch new consolidated services on the trans-Pacific and all-water routes.The U-Freight Group's ocean freight arm, U-Ocean, is offering an 18-day guaranteed regular weekly consolidation service between Shenzhen...
Demand drags Asia-Med volumes down to 2012 euro crisis levels The Spanish Port of Algeciras.HONG KONG - Second quarter volumes of Asian exports shipped to the Mediterranean declined by 7.8 percent year-over-year, representing the trade's worst result since the third quarter of 2012 during the height of the euro crisis, according to Drewry.In its Container Insight Weekly, the London-based analyst...
Flat or declining volumes at most of China's top ports HONG KONG - China's top 20 container ports have handled more than 120 million TEUs this year until the end of August, but slowing export demand has seen little growth across most of the major ports including several year-over-year volume declines. Shanghai throughput was flat compared to August last year as...
Start using ACE voluntarily, Customs specialists advise CHARLESTON, South Carolina - Procrastinating importers and exporters who cheered the latest delay in U.S. Customs and Border Protection's mandatory use of the Automated Commercial Environment for filing documentation are only hurting themselves if they don't start using ACE when it becomes voluntary on Nov. 1, Customs specialists say. The start of...
Safe sells quartet for $92m Safe Bulkers struck a sale-and-leaseback deal that will bring it $92.1m in net proceeds, the company said Monday.
Suezmaxes head upward Suezmax tanker spot rates surged Monday amid strong sentiment in both the West Africa and Mediterranean markets.
Cuba door opens further The Office of Foreign Asset Control (Ofac) has opened the door further to the Cuba trade, though the steps do not represent a sweeping change in the US embargo against the island.
How the internet learned to cope without ShippingBabes Remember the great millennial maritime dot.com bubble? Paul Berrill recalls the sites we'll never see again, and asks whether shipping will ever embrace online completely
Maritime transparency: now you see it, now you don't Bob Rust pays fond tribute to an all-too-brief window in which the US courts shone a piercing light on the inner workings of the industry
Where are all China's private shipowners? Despite the country's economic transformation, the Chinese industry is still dominated by the state sector, writes Bob Rust
Shocks and scares Could shipping be about to experience a repeat of the 1997 financial crisis that engulfed East Asia, asks Paul Berrill
Euroseas falls short Euroseas has completed a rights offering launched late last month and managed to raise over half of its target.
Drugs and weapons found Kenyan authorities have discovered weapons and drugs hidden inside vehicle tyres on a Hoegh car carrier in Mombasa.
Capesizes 'range bound' Record statistical gains in the capesize market have failed to spark optimism among analysts tracking owners in the dry cargo arena.
How China got big The rise of Chinese shipbuilding has been an unignorable feature of the past 25 years. But many of the factors that fostered this rapid ascent are now putting the brake on, reports Irene Ang
A capital idea Shipowning dynasties have been built on the principle of avoiding 'other people's money'. That changed at the start of the century. Joe Brady takes a look back at one of the industry's defining shifts
Diana boxship demo bound Diana Containerships has confirmed the disposal of one of its older vessels for demolition.
Steady as he goes
The max factor Ships are getting bigger by the minute, Paul Berrill confirms
Five missing after smash A search was launched on Friday after five fishermen were reported missing following a clash between their boat and a cement carrier.
Out of the blue Who better than founding editor Trond Lillestolen to put TradeWinds' first quarter-century in perspective
Four PSVs blocked in Brazil Siem Offshore and Ultrapetrol are the latest owner to see a contracts fall apart due to the blocking system in Brazil.
Bankrupt yard bought Bankrupt Dutch shipyard Peters in Kampen has been sold to compatriot Bodewes Group.
Cruise control After a wave of consolidation in the cruise industry over the past three decades, there are few signs yet of a serious challenge to the dominance of Carnival and Royal Caribbean, writes Eric Martin
Over a barrel When oil companies tighten their belts, offshore owners feel the squeeze. Plunging oil prices have created the sector's toughest time in 30 years, writes Darrin Griggs
Siem PSV blocked in Brazil Siem Offshore is the latest owner to see a contract fall apart due to the blocking system in Brazil.
Tax heaven Strategic position, superb port, a reputation for incorruptibility... as Jonathan Boonzaier reports, all Singapore needed was a package of incentives to transform it into Asia's pre-eminent shipping centre
Stepping on the gas In the early months of the new millennium, the conservative LNG shipping industry went into overdrive. It's hardly slowed down since. Lucy Hine traces the transformation
When junk was king
Does your 'broker pass the personality test? Is the ego-heavy 'character' shipbroker a dying breed in an increasingly sanitised industry, asks Lucy Hine
'When FFAs came in, the word ethics joined shelter decker and grainfitted in the shipping museum' But derivatives trading is no longer the Wild West it was in the early days, writes Ian Lewis
The Adriatic collapse: have we learned the lessons?
The party's over Oh, the Greeks are still there, all right, as rich and influential as ever, but these days they're a lot more discreet about it, as Geoff Garfield reveals
Titans of our time Who would be in your Shipping Hall of Fame? Geoff Garfield assesses the candidates since TradeWinds began publishing
Cheque mate TradeWinds has reported on many monumental transactions since 1990, but some have been more audacious than others. Andy Pierce examines five of shipping's game-changing deals
Sinotrans eyes LNGC order Sinotrans Shipping is the latest owner to emerge as a candidate for Arctic LNG business.
LSC shares handed over Lithuania's government has transferred its controlling stake in Lithuanian Shipping Company (LSC) to the country's rail operator.
Hispania Spirit "released" A Teekay LNG-owned, Shell-time-chartered LNG carrier has returned to normal service after a stash of cocaine and a stowaway were found onboard while the ship was off the Peruvian coast.
Bulker runs aground Sweden's Coast Guard has said a bulker loaded with wheat for Africa has run aground off Varberg.
Cosco takes VL options Chinese shipping giant Cosco is understood to have taken up options on two VLCC newbuildings.
SHI eyes retirements Korea's Samsung Heavy Industries has reportedly started to receive applications for voluntary retirement.
Anchor ups Hornbeck ante Hedge fund Anchor Bolt Capital has added a handful of shares to its significant holding in Hornbeck Offshore.
Solstad charters out trio Oslo-listed offshore vessel owner fixes PSV for 15 months to Chevron and wins deals for two more.
WWS ships axed Two World Wide Supply (WWS) offshore vessels have had their contracts terminated early in Brazil.
Harvard linked to GMI case Investment fund for one of world's top universities connected to major shareholder in bankrupt dry firm.
Macleod's rise continues Robert Hvide Macleod's rise in the Fredriksen system has continued with the executive adding an additional title to his business card.
Two more for Qingshan China's CSC Qingshan shipyard has won another deal for asphalt and bitumen tankers.
Yard workers walk out Workers have gone on strike at a Sinopacific shipyard in China over unpaid wages.
Migrants dead in crash Survivors report their small boat in collision with ferry off Turkey; at least 13 die.
General cargo ship barred An Indonesian flagged general cargo ship has been banned from entering or using any port in Australia for three months.
Procopiou buys Lanhai ships Sea Traders, George Procopiou's dry bulk arm, is said to be behind the purchase of eight bulkers sold at auction in China.
Star Bulk raises funds Star Bulk Carriers has improved its finances with the sale and charter back of a modern supramax bulker.
Falcon seals finance Dubai-based Falcon Global has secured finance from a trio of institutions for two liftboats under construction in Vietnam.
Orient Overseas (International) Limited (OOIL), the subsidiary of the Chinese shipping group COSCO Shipping Holdings that operates containerized maritime transport services with ...
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