Euro shortsea market coming off the boil Short-haul bulk and breakbulk traffic in Europe appears to have slowed, putting an end to the rally in freights and vessel earnings since the start of the year. Charter enquiry for minibulkers and coasters cooled down on the European continent and in the United Kingdom last week, fuelling
Yangzijiang expands into non-shipping businesses Singapore-listed shipbuilder Yangzijiang Shipbuilding has diversified from its core shipping business to investment in non-shipping companies. Through its wholly owned subsidiary, Jiangsu New Yangzi Shipbuilding (JNYSCO), Yangzijiang has subscribed for 30% equity interests each in the capital of
Project 'VAMOS! gets under way Damen Dredging Equipment (DDE) is to lead the system specification and architecture phase of the 'VAMOS! (Viable Alternative Mine Operating System) project. 'VAMOS! is a new 42-month EUR12.6 million (USD13.6 million R&D programme launched to find ways to tap into the wealth of unexploited
Knightsbridge shares approved for secondary listing in Oslo Shares in Knightsbridge Shipping, the New York-listed dry bulk shipping company in John Fredriksen's business empire, have been approved for secondary listing on the Oslo Stock Exchange, the company said in a statement. However, the board of the bourse stipulated that before trading in the shares
New Coral Sea shipping routes proposed An Australian proposal to extend protection of the World Heritage Great Barrier Reef and Torres Strait east into the Coral Sea will go before the IMO's Marine Environment Protection Committee in May. The proposal, which was agreed to by the IMO Sub-Committee on Navigation, Communications, and
Cruise firms replace Tunis with Valletta Following the 18 March terrorist attack in Tunis that left 21 people dead, MSC Cruises has decided to replace Tunis with Valletta for its western Mediterranean cruise. A spokesman for MSC in Malta said the company was dropping Tunis as a stopover for the rest of the year and chose Malta as a
Qingdao Port International profits up 18.5% y/y in 2014 Hong Kong-listed Qingdao Port International, a listed unit of Qingdao Port Group, said its profits grew 18.5% year on year (y/y) to CNY1.6 billion (USD255.8 million) in 2014 due to revenue increase and cost cuts. The company's revenue also rose 5.8% y/y to CNY6.9 billion due to growth in its
Singamas's profits down 18.1% y/y in 2014 Hong Kong-listed box-maker Singamas Container posted a year-on-year (y/y) fall of 18.1% in profits to USD28.0 million in 2014, due to declining average box prices. Revenues of Singamas Container, which has production facilities in China, rose 21.0% y/y to USD1.5 billion in 2014, a stock filing of
Bulk carrier U-Ming orders two cement carriers Taipei-listed bulk carrier U-Ming Marine announced on 18 March that the company has placed an order for two cement carriers. These two newbuildings will replace the old vessels of U-Ming's fleet, according to its filing to the exchange. The company stressed that the new cement carriers will be
Long-term growth seen for MR tankers The bullish run for medium-range (MR) product tankers may finally be happening, with 21% year-on-year (y/y) growth in fixtures from October 2014 to February 2015. Tanker consultancy Poten & Partners' analysis show there were 2,259 fixtures in the last five months compared with 1,869 in the year-ago
Pirates board two vessels off Indonesia Two vessels were boarded by sea robbers in succession off Indonesia, according to a report from Singapore-headquartered anti-piracy watchdog, ReCAAP Information Sharing Centre (ReCAAP ISC). First, a Marshall Islands-flagged bulk carrier, Capetan Giorgis, was boarded by four men while it was under
'Founding father' of Singapore's maritime might dies Even after he stepped down from premiership, Lee Kuan Yew, who died aged 91 at 03:18 h local time on 23 March, firmly believed the city-state had to remain a major hub port to retain its leading position in the maritime world. As Singapore's first prime minister from 1959 to 1990, Lee led a period
MPA signs MOU with M1 to enhance 4G network The Maritime and Port Authority of Singapore (MPA) has signed a memorandum of understanding (MOU) with Singapore-based telecom services provider, M1, for the adoption of the 4G broadband network coverage over Singapore's port waters. Under the MOU, the two organisations will conduct research and
Bulker newbuilding orders plunge Orders for dry bulk carriers plunged 66% year on year (y/y) in February as the Baltic Dry Index (BDI) plunged to a historic low, deterring investments. Statistics compiled by Greek broker Golden Destiny show 37 bulkers of 1,928,933 dwt were ordered this February, compared to 108 ships in the same
Tankers on alert as US crude storage crisis closer to breaking point Record crude storage levels at Cushing throw spotlight on easing the pressure through exports on tankers
CMA 2015: Tsakos proves a principled navigator of change New CMA Commodore says shipping is as important as ever but lacks recognition
New research shows port productivity does not increase in line with ship sizes Revolution in handling is required to improve port productivity in line with bigger ships - but who will pay?
China's shipbuilding industry signals further consolidation Cansi report shows the 54 major Chinese shipyards taking all newbuilding contracts in January-February
Angola LNG sticks with late-2015 restart date African LNG exporter says its seven vessels are sufficient for now, as it waits for them to return to the stalled project
Fugro says it's not a good fit with Boskalis Royal Boskalis Westminster continues to increase its stake in the oil services company
CMA 2015: Morooka and Borromeo share their views Two prominent industry figures take part in Q&A session over information technology, shale revolution and emission control areas
FMC wants to know how alliances are alleviating congestion FMC Commissioner calls on alliances to report promptly on operational steps to ease backlog at US west coast ports as shippers call for alliance KPIs
Hamburgers face a grilling in New York Wall Street may finance German owners, but only if the deal is right
GMS forecasts 'frantic year of scrapping' in dry sector Global demolition activity up sharply so far this year to 10.7m dwt, a rise of 37% over the same period of 2014
Two more attacks in the Malacca Strait Pirates target panamax bulker and 7,455 teu boxship
Star Bulk clinches yard deals for later newbuilding deliveries Owners being 'very proactive' in curbing supply growth, says Pappas
On the hook Nobody really thinks about the seafarers whose voyages have been interrupted by the US west coast congestion. Trust me, they have not been having much fun
February laden container volume up 8.6 percent at Savannah The Port of Savannah's volume of loaded containers in February jumped 8.6 percent from a year earlier as the Georgia Ports Authority posted across-the-board cargo increases. The ports of Savannah and Brunswick enjoyed increases in bulk, breakbulk, autos and machinery, and containerized shipments, which were boosted by shippers bypassing congested West...
CSX boosts capacity at Ohio intermodal hub as volume builds JACKSONVILLE, Florida - The recent installation of the second of two wide-span gantry cranes at its intermodal hub in northwest Ohio, completing a $40 million expansion, is the latest sign of how the hub-and-spoke model of CSX Transportation, which gives shippers more origins and destinations, is paying off. The two new...
Prepare for major changes in trucking environment, shippers told ORLANDO, Florida - Shippers are being warned to prepare for major and potentially costly changes in the way they contract or hire trucking companies to move freight across the U.S., as economic, regulatory and legal pressures reshape the transportation landscape. The days when a shipper or consignee could tell a trucking...
Shipowners bullish on container market outlook NEW YORK - Shipowners that charter out container ships to liner operators are optimistic that the container shipping market is turning around and that charter rates for their vessels will increase as shipping lines turn to them to fill a gap between supply and demand that will start to open...
FMC's Khouri wants alliances to report on congestion A U.S. Federal Maritime Commission member wants the FMC to ask the four major container ship alliances to supply new information on what they're doing to reduce congestion at U.S. ports. FMC member Michael Khouri's request was followed by an appeal from the Global Shippers Forum, which represents U.S., European and...
MSC container ship, bulk carrier attacked off Indonesia A Mediterranean Shipping Co. container ship and a bulk carrier were attacked in separate but possibly related incidents off the coast of Indonesia, according to the intergovernmental anti-piracy office ReCAAP. The two incidents, which are reported to have happened within hours of each other, involved ships sailing eastbound in the Straits of...
Sumitomo invests in Myanmar's logistics market Major Japanese trading house Sumitomo Corp. has unveiled plans to set up a logistics subsidiary in Myanmar to cash in on the increasingly promising local market and further strengthen its footprint in the entire Southeast Asian region. Sumitomo said on Monday that it will establish the logistics subsidiary within the Thilawa...
Qatar Airways to launch freighter service to Los Angeles Qatar Airways Cargo is launching a freighter service between its Doha hub and Los Angeles International Airport, its fourth all-cargo service to the U.S. The twice-weekly Boeing 777 service via Luxembourg and Mexico will begin on April 4, departing Doha on Wednesdays and Saturdays. The carrier currently operates freighter and belly cargo...
DCT Gdansk terminal orders 15 rubber-tire gantry cranes DCT Gdansk has ordered 15 rubber-tire gantry cranes from Konecranes for scheduled deployment at the Polish terminal in the second half of 2016. The 16-wheel yard cranes will have lifting capacity of 40.6 tons, stacking height of one container over five, and a stacking width of seven containers plus truck lane....
Slow season rates under pressure from excess supply, Drewry says HONG KONG - Supply growth is running away at twice the rate of demand growth expected in 2015, and the downward pressure has seen rates plunging, Drewry noted in its latest Container Insight Weekly.By the start of the second quarter, the London-based analyst said slot supply on a year-over-year basis...
Cargo is moving? Not so fast. The Port of Oakland was recently quoted on JOC.com as saying, "Cargo is moving and the backlog is shrinking." Such a statement doesn't tell the complete story and causes a great deal of confusion and resentment on the part of cargo owners. Importers and exporters are hearing from their motor...
APMT Mumbai crane slowdowns end, but berthing delays go on Crane operators employed by private rubber-tire gantry contractors at Gateway Terminals India ended a go-slow action and resumed normal activity over the weekend, terminal operator APM Terminals Mumbai said in a trade advisory. "The RTG operators have resumed normal operations. Discussions are still going on between the operators and the outsourced contractors...
Asia escapes equipment shortages, Singamas chief says Source: Singamas and Barclays.HONG KONG - Port congestion on the U.S. West Coast that caused lengthy delays for shipping lines and on-shore bottlenecks only had a limited effect on container availability in Asia, said Singamas CEO Teo Siong Seng.The West Coast congestion has led to an equipment shortage in Asia...
Navios takes flight Shares of Navios Maritime Partners gained traction today in the wake of an endorsement from a forecaster at Deutsche Bank.
CMA underway Some of the shipping industry's brightest stars are heading to New England this week to attend the Connecticut Maritime Association's (CMA's) annual conference at the Hilton Hotel in Stamford.
Shy, not retiring For anyone who might have jumped to the wrong conclusion about Michael Parker accepting a career achievement award, hear this: Citigroup's head shipping banker isn't going anywhere just yet.
Come together An unprecedented corps of private-equity sponsors should pressure the shipowners they support to consolidate over the next six months rather than gaining size through more newbuildings.
Good years ahead Tsakos Energy Navigation (TEN) chief executive Nikolas Tsakos says his company expects the currently healthy tanker rates to continue well into 2017.
Giant one step closer John Fredriksen took another step in creating a single giant bulker company today when Knightsbridge Shipping secured a secondary listing on the Oslo Stock Exchange.
Marenave faces loss German owner Marenave is facing a loss of EUR 33.7m ($36.7m) in 2014 as it takes another hit from dire bulker markets.
Greece recoups illegal aid Greece has been ordered to recoup the funds provided to Piraeus Port's operator Cosco Pacific through financial benefits.
Quintana picks up period deal One time US initial public offering hopeful Quintana Shipping has found short period employment for one of its bulkers at a reduced rate, brokers say.
Norden pair identified Shipbrokers believe they have tracked down the identity of two tankers sold by Norden of Denmark.
Clash case goes ahead A 20-year battle between two Indian owners over a vessel collision may be about to finally reach court.
Diana takes Glencore cut Greece's Diana Shipping has lined up $2.24m of revenue by extending a bulker charter at a reduced rate.
One dead in ferry fire A dead body has been found on the deck of a burning catamaran passengership, the Greek coast guard said on Monday.
Exelixis sells bulker Exelixis Investment Public Ltd has sold a 1994-built bulker to a Hong Kong owner for $4m.
Reward for DHT duo DHT Holdings' two chief executives have seen their pay packets increase during a year in which the company underwent significant growth.
Crewman dies in Greece A seafarer has died during operational works on an anchored bulker at the port of Thisvi, western Greece, on Saturday.
Tanker runs aground Bad weather has prevented an attempted refloating of a tanker that grounded off Norway.
Sales tonic for Topaz Higher profit from vessel sales helped Topaz Energy & Marine, Bermuda jack up its profit during 2014.
Kiel Canal crunched Seven-hour delays have been reported in the Kiel Canal after a Greek cargoship hit a lock.
Maersk Tankers adding MR Maersk Tankers is set to continue its products tanker expansion with the addition of a second hand vessel from Motia Compagnia di Navigazione.
Pirates move east Somali pirates have shifted their location towards India, the country's defence minister said yesterday.
Shreyas on the hunt India's Shreyas Shipping & Logistics is aiming to boost its fleet again by acquiring four containerships.
Boskalis gets a quarter Royal Boskalis Westminster has boosted its stake in Dutch offshore owner Fugro by 5%, stating once again that this is not a step towards making an offer.
SK eyes HMM bulkers SK Shipping and Korea Development Bank (KBD) are reportedly teaming up to bid for domestic owner HMM's bulker fleet.
Pappas applauds dry owners Petros Pappas has praised shipowners for discipline which has pulled bulker newbuilding orders to a two decade low and is hoping they can stay away from shipyards for the next year.
Seamec acquires veteran India's Seamec has snapped up an elderly offshore support vessel (OSV) from a Singapore operator.
Star seeks more alliances Star Bulk Carriers is exploring ways to replicate a capesize co-operation agreement in other sub-sectors of the struggling dry cargo market.
Stopford scoops prize Clarkson Research Services non-executive president Martin Stopford has been jointly awarded the $200,000 Onassis Prize for Shipping 2015.
Crewman overdosed A UK inquest has found a Brittany Ferries steward died from a cocaine overdose on a crossing to Plymouth last year.
Petrobras shuts FPSO Petrobras has shut down an FPSO after irregularities were found on board by Brazilian regulator ANP.
More for Auerbach Germany's Auerbach Schiffahrt has returned to China for another two multipurpose (MPP) newbuildings.
Master found to be drunk A captain has been fined NZD 3,000 ($2,287) after he was found to be drunk while preparing to sail from a port in New Zealand.
Milaha starts India service Milaha Maritime & Logistics says it has launched the first ever direct container service between Qatar and India.
Double piracy attack The same gang is thought to be behind two acts of piracy that occurred off Singapore on Saturday within six hours of each other.
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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