Navis system to run Australian terminal International Container Terminal Services Inc (ICTSI) has signed a licence agreement to implement the Navis N4 terminal operating system at its fully automated container terminal that is under construction in Melbourne. The Victoria International Container Terminal (VICT), a greenfield project in
Economou launches tanker IPO George Economou's Tankships Investment Holdings has filed a registration for a US initial public offering and listing on NASDAQ. The IPO plan dates back to the purchase of 12 tankers by Economou's DryShips in December 2010. Given currently positive Wall Street sentiment on crude shipping, the
DEME pushes strongly into offshore energy market Belgian dredging and land reclamation contractor DEME has strengthened its diversification into hydraulic projects at sea with orders for two new vessels to serve the offshore energy market. It has ordered a fallpipe and multipurpose vessel, to be named Living Stone, and a jack-up, to be named
Finnlines buys three ro-ros The Grimaldi Group's Baltic subsidiary has bought two ro-ros from Eckerö Shipping for an undisclosed price, IHS Maritime has learned. Neither Finnlines nor Eckerö Shipping disclosed the other party when they made their separate announcements of the deal. The ships, Trader and Carrier, will be
Sri Lanka to restart ferry to India Sri Lanka has revived interest in a ferry service with India following the visit of the new government's foreign minister to New Delhi at the weekend. The government said it wants to restart ferry services between Talaimannar and Rameswaram and Colombo and Tuticorin. The matter was discussed during
Europe to invest $78Bn on waterborne trade The European Commission (EC) has confirmed it expects to invest EUR67.4Bn (USD78Bn) on developing port and "waterborne-related" projects up to 2030. The investment, which falls under the EC's Trans-European Transport Networks (TEN-T) project, represents 10% of the total EUR700Bn investment to
Union condemns shrinking UK training funds Government funding to train UK seafarers has reduced year on year "in real terms", maritime union Nautilus International has warned. Although the 2014-15 funding, at GBP15M (USD22.7M), is the highest it has ever been, Nautilus said this amount will cover barely 20% of course expenses. "The funding
KOGAS shipbuilding contracts signed Shipbuilding contracts for the six LNG carriers tied to Korea Gas Corporation's (KOGAS's) recent tender were signed today. Last October, KOGAS awarded two ships each to Hyundai LNG Shipping, Korea Line Corporation (KLC), and SK Shipping. Hyundai and KLC will build their ships at Daewoo
Slow steaming loses its appeal in the tanker segment Low bunker prices are making slow steaming less attractive, say bunker traders. "Tanker daily hiring rates for shipowners are climbing now, very large crude carriers [VLCCs] especially," said a Singapore-based bunker trader. The current daily chartering rate of VLCCs on the spot market is hovering
Sinotrans Shipping sells VLCC Hong Kong-listed Sinotrans Shipping, a unit of the state conglomerate Sinotrans&CSC, has sold its only VLCC to China VLCC, which is a joint venture between China Merchants Energy Shipping and Sinotrans&CSC. The VLCC, purchased for USD61.8M, was identified as 2008-built Yangtze Friendship. It was
TSA plans to increase rates in February Container carrier alliance Transpacific Stabilization Agreement (TSA) has recommended that its members implement a general rate increase (GRI) for all origins and destinations ahead of the Lunar New Year. This GRI, announced at $600 per feu, will take effect on 9 February. "This is a very
Oil companies shifting focus to current projects Oil companies are cautious in investments this year as they divert to maintaining production from their existing oil fields instead of spending on new fields, amid lower oil prices. This was the feedback Singapore-listed offshore oilfield service companies gave to UOB Kay Hian Securities at the
Coastal Contracts incorporates subsidiary in Mexico Malaysia-listed marine services company, Coastal Contracts has incorporated an indirect wholly owned subsidiary, Coast Oil (COSA) in Mexico. COSA will engage in leasing and subleasing of all kind of offshore assets related to the oil and gas industry and provision of drilling, engineering and other
Tanker owners eye spate of new orders as rates take off Angelicoussis, Fredriksen and Angelopoulos among those poised to ink new VLCCS deals
Switching newbuild orders from dry to wet may put damper on tanker recovery Stena Bulk Erik Hånell boss raises concerns over growing suezmax orderbook
Willis buys hull stalwart Miller Insurance Consideration for 85% stake undisclosed
South Carolina posts double-digit box growth Charleston container traffic volumes rose 12% to nearly 1.8m teu in 2014
Floating storage earnings to skyrocket more than 100% History shows that owners are in for some big paydays for storing cheap crude at sea
Shipowners face strong risk of OW-linked arrests in UAE Law firm Fichte & Co suggests owners should reach settlement and secure indemnity
Arkas Line grows box volumes by 30% Turkish line expands fleet and creates new services and partnerships
Economou to launch tanker IPO Company will operate young fleet of four suezmaxes and six aframaxes
Allied World enters marine liability Reuben hired from RSA to head drive
Lloyd's List honours Joe Cox with lifetime achievement award President and chief executive of the American Chamber of Shipping will be recognised at ceremony in Houston
Dalian Shipbuilding industry wins tender for two LNG carriers Ships will haul cargoes for Sinopec's APLNG project along with six LNG carriers ordered in 2013
Scorpio Bulkers poised to shed more capesize orders Eyeing conversion and sale of 'limited number' of contracts to cut capital needs
As higher volumes, rates build revenue, J.B. Hunt adds freight capacity Three straight quarters of stronger U.S. economic growth and rising freight demand added more than $500 million to J.B. Hunt Transport Services' top line in 2014, increasing the intermodal trucking company's annual revenue 10 percent to $6.2 billion. That gain came despite ongoing problems with intermodal rail service and an increasingly...
ILWU rally to press employers to resolve chassis M&R issue Thousands of supporters of the International Longshore and Warehouse Union are expected to attend a rally this evening near the Port of Los Angeles to urge waterfront employers to resolve what has become the most controversial issue of West Coast contract negotiations - jurisdiction over chassis maintenance and repair. "I beg...
Logistics complex serving Brazilian port Santos opens Brazilian container terminal operator Grupo Libra has opened a 30 million reais ($11.7 million) bonded warehouse and logistics park to serve the port of Santos, the busiest container port in South America. The 70,000-square-meter complex, known as Libra Cubatão Logistics, is strategically located equal distances from the port and key roads,...
Construction begins on Oakland logistics hub-UP main line connection Construction began this week on a rail link that will connect a 360-acre logistics hub being built at a former Army base at the Port of Oakland with Union Pacific's main line. "Connecting the Oakland Army Base to the national rail network is a milestone for us," said Chris Chan, the...
Montreal to expand capacity after seeing healthy container traffic growth The return of CMA CGM, the opening of a grain containerization facility, healthy volume on Mediterranean and Caribbean services, and even diversions from the U.S. West Coast in 2014 helped lift Port of Montreal's container volume 4.2 percent versus 2013. The second-largest Canadian container gateway after Vancouver told JOC.com that it...
Alphaliner: 2015 box fleet growth to outpace that of 2014 The global container ship fleet this year is set to increase 7.8 percent in terms of capacity, outpacing last year's 6.3 percent growth, according to Alphaliner. The cellular fleet consisted of 5,035 ships with a combined capacity of just over 18.37 million 20-foot-equivalent units on Jan. 1, 2015, an increase of...
For B/Ls, stick to the KISS principle Q: We're a third-party logistics provider handling warehouse distribution work for clients. We always ship out orders using trucking bills of lading. One client raised an interesting question about the "number of original trucking bills of lading issued." I know this client isn't confusing a trucking B/L with an ocean B/L....
Shippers relieved after Nhava Sheva labor pact is reached A labor dispute involving crane operators that produced intermittent gate closings and resultant violent protests by truck drivers over long waits at APM Terminals-managed Gateway Terminals India was settled Wednesday, giving beleaguered shippers relief after months-long cargo delays and congestion surcharges in Nhava Sheva, also known as Jawaharlal Nehru Port...
China rediscovers taste for Australian wine as imports soar HONG KONG - Australian wine exports to China have almost recovered to levels recorded before Beijing's austerity measures severely dented volumes, according to data released by the Australian Grape and Wine Authority (AGWA). Total Australian wine exports in 2014 increased by 8 percent to 40 million liters valued at $181 million....
Columbarium conversion will breathe life into Kerry Logistics warehouse HONG KONG - Kerry Logistics is planning to convert one of its basic warehouse facilities in Hong Kong into a columbarium that will store the remains of up to 100,000 people, according to a local media report, a move that would appear to be a significant money spinner for the...
McCain defends proposal Prominent US lawmaker John McCain has taken to the floor of the Senate to defend his embattled proposal to repeal a key provision of the Jones Act cabotage law.
Euronav set to list Tanker giant Euronav is said to be "oversubscribed" and expected to price in a few hours a transfer of its listing to New York from Brussels while raising up to $185m in new investor funds.
Sticker shock The sale-and-purchase market is rife with rumours that an affiliate of China Merchants Group is looking to offload one of its last capesize bulkers.
DVB a target? Two Japanese banks have been linked to a takeover of German shipping lender DVB Bank.
Osaka set for Southampton Hoegh Osaka's list has been brought down to only five degrees, allowing salvors to tow it back into the port of Southampton later this evening.
Essar swings to loss India's Essar Shipping has fallen to a loss in its third quarter as rates dropped away.
Strong finish for Keppel Keppel Corporation's offshore arm has been the main contributor to the group's net profits for 2014 after a strong fourth quarter.
The case for Tankships New DryShips spin-off Tankships Investment Holdings believes its young fleet and the financial clout of CEO George Economou give it the edge in the tanker market as it prepares for a New York IPO.
Samsung signs up duo Samsung Heavy Industries has become the latest shipbuilder to confirm it won an order for two LNG carriers through a Kogas tender.
Frontline 2012 deal off Koch's 12-month time-charter deal for two Frontline 2012 LR2s has failed to make it off subjects, TradeWinds has learned.
Havyard's new man Havyard has appointed Hallvard Fosnavaag to serve as its new Asian chief in Singapore.
Economou's earner A George Economou-controlled company will earn $8.1m per year for managing the fleet of his new spin-off Tankships Investment Holdings.
No refloating before Friday Teekay's LNG carrier Magellan Spirit will not be refloated before Friday as a ship-to-ship (STS) cargo transfer is ongoing.
Tankships in slim profit George Economou's latest IPO vehicle Tankships Investment Holdings has revealed a slim profit in the nine months ending 30 September last year.
Hansa in long-term deal Hansa Heavy Lift has reached a long-term agreement with Oaktree Capital Management for its fleet of heavy lift vessels.
Economou goes for IPO Greece's DryShips is spinning off 10 tankers in a new US IPO aimed at raising up to $100m.
Gas leak located Shell has said it will no longer evacuate its Curlew FPSO off Scotland after the source of a gas leak was found.
Vroon adds tanker Dutch owner Vroon has boosted its tanker fleet in a deal with France's Sea-Tankers.
DSME seals Kogas deal Korea Line and Hyundai LNG have finally signed contracts for four LNG carriers won through last year's Kogas tender.
Fog shuts Houston Channel More than 60 vessels are reported to have been delayed at the Houston Ship Channel due to heavy fog over the past 24 hours.
Top Ships in the black Top Ships has reported a modest net profit of $900,000 for the fourth quarter in figures released late Wednesday.
Osaka poised to move Salvors Svitzer look all set to tow the 52,000-gt Hoegh Osaka (built 2006) back into the UK port of Southampton.
SK signs up to Gorgon Chevron has signed a major LNG supply deal with South Korea's SK Group for its Gorgon project in Australia.
McCain under fire A growing number of politicians are taking aim at a prominent US Senator's crusade against the Jones Act, the nation's cabotage law.
Oil prices could remain low for up to 3 years, says BP exec 'We're going to need to rebase the company based on no guarantees at all that the price will come back up.'
LNG no guarantee for compliance with ECA NOx limits IMarEST points out weaknesses in earlier IMO proposal suggesting LNG engines will automatically achieve Tier III standards.
Sanctions against Iranian shipping companies could be lifted But order from EU court could still be challenged.
IMO urged to give technology space to develop First movers should not have the threat that they are developing or adopting new technology in vain.
Delays to low-sulphur incentive plan Chinese port 'still working on details' of the scheme.
OW investors look to top management for compensation May go after their private fortunes as claims exceed insurance cover.
IMO moving closer to update on scrubber washwater discharge criteria Industry sees development as positive as it could help build confidence in adopting technology.
'Landmark ruling' in bunker ship-arrest 'This could set a precedent for future arrests based on anticipatory breach of a bunker invoice.'
'Spurt in bunker demand' 'Shipowners are finally making money.'
Dual fuel yard decision getting close US shipyard most likely winner.
T&T port operator proposes new port project Proposed design includes an LNG bunkering facility.
Bulker arrested in Singapore Managed by German firm, Indonesian owner.
Glander adds one to trading team Andreas Johansen joins the firm's Dubai office.
Progress for Florida's LNG production project Wespac targeting marine market with upcoming facility.
Malaysian firm secures land to support bunkering activities Extension of Ahmad Zaki Resources' oil and gas activities.
Bunker Holding strengthens legal team To support 'increased group activities'.
LNG carriers to use Wartsila's gas handling systems Each system to be delivered in 'pre-fabricated skid modules' for easy installation.
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