Navios buys 14 from HSH debtors Angeliki Frangou's Navios Group has agreed to acquire seven bulkers and seven container ships from debtors of Germany's HSH Nordbank. This is the second major transaction involving Navios' acquisition of vessels previously owned by distressed borrowers that were bundled together by HSH. In 2013, a
Perpetual preferred offerings continue NYSE-listed Tsakos Energy Navigation has priced the shipping industry's third perpetual preferred equity offering of the month. The Nikolas Tsakos-led tanker company is selling 3.4 million preferred shares at USD25/share with a dividend rate of 8.75%. The Tsakos family trust is purchasing 200,000
Weak marine market hits Wartsila An expected weakness in its Ship Power business area has hurt the 1Q15 result of Wartsila, the Finnish engineering group, although the company retained guidance regarding its full year performance unchanged. Group net profit fell to EUR64 million (USD70 million) in 1Q15 from EUR70 million in the
Norwegian analysts upbeat on crude tankers The crude carrier market has outperformed expectations so far this year and shipping analysts at Arctic and DNB Markets in Norway remain upbeat on the outlook in the sector. "The crude tanker market has had a stellar start to 2015 - exceeding expectations by a wide margin. The excess crude in the
SIPG plans to acquire part of Shanghai Jinjiang Shipping Shanghai-listed Shanghai International Port Group (SIPG) said that it is studying the acquisition of an unspecified part of Shanghai Jinjiang Shipping under its comprehensive development strategy. SIPG will conduct further study on an acquisition plan after a due-diligence investigation into
Large contracts drive Panalpina's box growth Swiss freight forwarder Panalpina achieved steady growth in ocean freight handling on the back of freight management contracts for large industrial customers and also improved its profitability in the first quarter. The volume of cargo under its management rose by 5% to 387,000 teu, driven by "more
One stuck ship in Great Lakes freed while another aground A grounded freighter in the St. Lawrence River near Lake Ontario has been moved to a safe anchorage allowing navigation of the Seaway to resume on 22 April, Canadian Seaway spokesman Andrew Bogora said. At least seven freighters had been waiting to transit through the Seaway locks between Lake
Schahin files for bankruptcy protection Schahin, China-based ICBC Leasing's first partner in the Brazilian offshore market, announced on 17 April that 28 of its units have filed for bankruptcy protection in the Sao Paolo state court. The application was made after the company's failure to refinance up to BRL6.5 billion (USD2.1 billion)
MOL orders four car carriers Mitsui OSK Lines (MOL) announced that it has signed a contract with Minaminippon Shipbuilding to construct four next-generation car carriers. The vessels will be delivered in 2017 and 2018, a statement of the company said on 23 April. The capacity of each vessel is 6,800 units of standard passenger
Kalmar receives huge orders from ICTSI Crane manufacturer Kalmar has received two separate orders totalling nearly 60 Ottawa terminal tractors from International Container Terminal Services (ICTSI) in the Philippines. A total of 42 Kalmar Ottawa terminal tractors, five Kalmar reachstackers, and two Kalmar rubber-tyred gantry cranes
Tanjung Priok port to be expanded Indonesia's new political leadership is serious about its moves on infrastructure, which includes the USD4.66 billion redevelopment and expansion of the existing Tanjung Priok port. The expansion is expected to turn the port into the gateway port to this huge country of 17,000 islands. The Port of
Singapore to invest more in maritime technology The Maritime and Port Authority of Singapore (MPA) will invest more in technology in view of Singapore's push to capture new opportunities when the shipping market improves. Speaking at the inaugural Singapore Maritime Technology Conference on 23 April, Singapore's senior minister of state for
Piracy in Asia worsens in Q1 2015 Singapore-headquartered anti-piracy watchdog ReCAAP Information Sharing Centre (ReCAAP ISC) reported a total of 38 piracy and armed robbery incidents against ships in the first quarter of 2015. Three of these were attempted incidents. The number of reported incidents in the first quarter of 2015
LNG bunkering spots planned for Asia Pacific-North Europe LNG-powered mega container ships could receive LNG bunkering in Singapore, near the Suez area, and Rotterdam in future if they are deployed in the Asia Pacific-North Europe trade, according to DNV GL. Purely LNG-powered vessels are able to load LNG fuel that could support approximately half the
Orient Overseas values IT growth for efficiency In the challenging market environment of shipping, improving efficiency is the key for cost reduction in balancing the company's financials, said Tung Chee Chen, chairman of Orient Overseas (International). The head of the Hong Kong-headquartered integrated transportation and logistics company said
Svitzer sees salvage merger with Titan as best fit of strengths Svitzer, the towage and salvage company in AP Moller-Maersk (APM) group of Copenhagen, sees the merger of its salvage business with Titan, which is part of the US-based Crowley group, as the best fit of strengths of both parties. For the Danish company, it also means reaching an ambition to
MPA signs MOU with World Maritime University The Maritime and Port Authority of Singapore (MPA) has signed a Memorandum of Understanding (MOU) with the World Maritime University (WMU) to train and build global maritime capacities. The MOU was signed by the MPA Academy, the training arm of MPA, on 22 April in conjunction with the 10th
Rumours abound about new 50-valemax project between Vale and Chinese owners Unconfirmed reports suggest Cosco will build 20 400,000 dwt ore carriers while CMES, Shandong Shipping and ICBC Leasing each construct 10 in China
Navios and HSH Nordbank in new distressed deal for 14 ships Owner to take seven bulkers and seven boxships at 'serious risk of insolvency'
Scorpio Tankers to offer Monday horoscope Scorpio's star is forecast to rise, lifted by a vigorous product tanker market
TEN takes $85m from upsized offering Uses for added funds may include acquisitions or share buy-backs, says tanker owner
Challenging year ahead for east-west carriers Oversupply on trade routes spells trouble for big box lines, says Seabury Group
Hamburg Süd remains profitable despite turnover decline Weak freight rates take their toll on German line
Teekay-AET tanker fleet merger is just hearsay AET denies merger to Lloyd's List, saying talk of a tie-up with Teekay is mere speculation
Piracy on the rise again in Southeast Asia Both ReCAAP and IMB report an increase in incidents in the first quarter
Piracy: The Movie plays badly with ReCAAP conference delegates Implications of seafarers' carelessness and collusion between crew and pirates sparks outcry
HCI hangs on to profitability and explores new activities KG house buys boxship entirely on own account
Pasha buyout of Horizon's Hawaii trade lane business approved US Department of Justice gives the nod to $141.5m deal
No commercial incentive for box lines to speed up Asia-Europe services SeaIntel's Lars Jensen says the cost of revamping networks is far too high to risk dropping slow-steaming strategy
Bauxite trade offers hope to panamaxes at expense of supramaxes Pendulum for Australia-China trades is swinging back to larger ship class
UP: West Coast woes, Panama Canal expansion won't spur major cargo shift Union Pacific Railroad on Thursday appeared to downplay the idea that U.S. West Coast port congestion has changed its expectations that a low- single-digit share of cargo might shift to East Coast when the Panama Canal opens next year. Asked by an investment analyst whether diversions from the West Coast to...
European shippers launch global review of mega-alliances European shippers are stepping up their scrutiny of shipping alliances, launching their own review of the massive vessel-sharing agreements. Sixteen of the world's 20 largest container carriers are members of the four so-called "mega-alliances": 2M, Ocean Three, G6 and CKYHE. And although the alliances received the go-ahead from global regulators, the...
USDA Announces U.S. Market Access for Peru Products Today, the U.S. Department of Agriculture (USDA) and the Peruvian Ministry of Agriculture (MOA) met in Washington, D.C., to recognize recent market access achievements for several longstanding issues for both the United States and Peru, including potential expansion of imports of papayas, oversized mangoes, peppers, and citrus. This success is...
USDA Awards Almost $3 Million in Research Grants to Increase Food Security Through Improved Livestock Health WASHINGTON, April 23, 2015 - The U.S. Department of Agriculture's National Institute of Food and Agriculture (NIFA) today announced three grants designed to boost food security by minimizing livestock losses to insects and diseases. The awards to support research, education, and Extension efforts were made through NIFA's Agriculture and Food Research...
Brazilian truck blockade roils supply chains again Thousands of independent Brazilian truckers in Brazil are wracking shippers' supply chains by holding blockages in five states across the country in protest of what they deem are low wages. The blockades are expected to spread on Friday. The delays are particularly harmful to poultry exporters that have seen their shipments...
Saddle Creek Adds New Business Development Director Lakeland, Fla., April 23, 2015 (MindShare Media Services) - Saddle Creek Logistics Services announced today that Eric Drabiuk has joined the company as director of business development. Based in Maryland, Drabiuk will focus on expanding Saddle Creek's growing contract packaging business. Drabiuk has extensive experience in packaging and logistics. Prior to joining Saddle Creek,...
Purolator International Names Bruce Roberts as Western District Sales Manager Bruce RobertsJERICHO, NY - April 23, 2015 - Purolator International, the leading provider of cross-border logistics between the U.S. and Canada, is pleased to announce the appointment of Bruce Roberts as Western District Sales Manager. Roberts will be responsible for the growth of Purolator International within the Western district of...
Supply Chain & Technology Summit - May 21st - Los Angeles Supply Chain & Technology Summit - May 21st - Los Angeles Presented by The Council of Supply Chain Management Professionals Thursday, May 21, 2015 Location: Big Door Studios 114 Sheldon Street El Segundo, CA 90245 Lunch & Networking: 11am - 12:30pm Summit: 12:30 - 5:30pm Cocktails & Networking: 5:30 - 7:30pm - Bringing the Best of Tech and the Supply Chain Together Hear first-hand from...
Canada's TransForce zeroes in on cross-border truck growth after profit, revenue surge Canadian transportation and logistics firm TransForce is increasingly looking to tap cross-border trade growth after acquisitions and a weaker Canadian dollar propelled its net income and revenue in the first quarter. The Montreal-based company's net income spiked 137 percent year-over-year in the first quarter, raking in C$14 million (roughly US$11.5 million)...
India's Mumbai port extends incentives to attract cargo In an attempt to lure more container cargo, India's Mumbai Port Trust has extended its previously introduced trade incentive schemes for another year, ending in March 2016. Under the program, port users enjoy concessional rates for container stuffing and de-stuffing activity; additional free storage times for containers moved by road; and...
Attracting truckers, one shipper at a time There is no easy or single solution to what many believe is a worsening truck driver shortage in the U.S., but that's not stopping motor carriers and their customers from escalating their response. Trucking industry executives speaking on an April 22 panel at the 10th annual Chainalytics Freight Market Intelligence Summit...
US intermodal volume spikes as West Coast congestion clears U.S. intermodal volume last week hit the second-highest point ever, potentially signalling an acceleration of cargo backlogged at U.S. West Coast ports moving inland. U.S. West Coast port congestion hampered U.S.-based Class I railroads growth in the first three months, according to traffic report and quarterly earnings. But the latest traffic...
Con-way Freight workers in Buffalo reject Teamsters Con-way Freight drivers and dockworkers in Buffalo, New York, voted not to join the International Brotherhood of Teamsters, the sixth outright defeat for the union in its attempt to organize workers at the second-largest stand-alone U.S. less-than-truckload carrier. The Teamsters have won National Labor Relations Board elections at three Con-way Freight...
APM Terminals to open first fully automated terminal in Rotterdam APM Terminals, the Maersk group's port operating arm, will officially open the world's first fully automated container terminal in Rotterdam Friday. The Dutch king Willem- Alexander and 500 senior global shipping and industry executives and government officials from around the world will attend the ceremony at the terminal on Maasvlakte 11,...
Port Metro Vancouver drayage licensing program hits a bump The harbor trucking licensing program at Port Metro Vancouver, British Columbia, took a hit after a federal judge ruled the port's selection process was unfair and that rejected applications need to be reconsidered. Roughly 600 drayage drivers in late January were excluded from the licensing program aimed at reducing the harbor...
Shippers load on complaints at LA-Long Beach gripe session Cargo interests had much to complain about at a listening session convened Wednesday by Los Angeles and Long Beach port leaders. They suffered through four punishing months of labor slowdowns at West Coast ports, but their biggest concerns centered on problems that were present even before the coastwide contract negotiations...
Hamburg Sud posts profit even as falling freight rates depress revenue Hamburg Sud remained in the black in 2014 even as falling freight rates on its key South American routes and a weaker dollar depressed revenues. Germany's second-largest ocean container carrier said revenue dipped 1.3 percent to €5.2 billion euros ($5.6 billion) despite a 2.3 percent increase in traffic to 3.4 million...
No escape from ship ordering 'arms race,' OOCL head says SINGAPORE - Container shipping lines cannot get out of the large vessel arms race and excess capacity will be a permanent problem, according to Orient Overseas International Ltd. chairman Tung Chee Chen. Delivering the annual Maritime Lecture, held as part of Singapore Maritime Week, Tung, known as CC, said a healthy...
Pyxis clicks into New York An affiliate of Pyxis Maritime has struck a merger deal with a US internet company on a path to secure a listing in New York.
Stifel sees brighter 2015 Stifel hiked its tanker rate estimates for 2015 on expectations that the crude shipping "renaissance" will last through the year.
Dof sells old PSV Norway's Dof has parted ways with one of its oldest platform supply vessels (PSVs) that had been idle for more than a year.
USG sells duo for $42m Construction material manufacturer USG Corp has sold its two gypsum carriers at what appears to be a firm price.
Navios buys 14 distressed ships Greece's Navios Group has sealed a second deal to acquire distressed vessels from the portfolio of German lender HSH Nordbank.
NSB expansion pays off Reederei NSB's ship widening work has paid for itself due to a resulting increase in the value of the vessels, according to an online valuation platform.
Tolani sells again Indian owner Tolani Shipping continues to trim its fleet and is understood to have offloaded a second kamsarmax bulker within the space of two weeks.
EAS swings jobs axe Troubled Brazilian yard Estaleiro Atlantico Sul (EAS) has fired 800 employees over the last month and more could follow.
Ugland bulker re-emerges A 14-year-old handymax bulker that was sold by Isle of Man-based LT Ugland last December has emerged in the fleet of little-known Indonesian owner Lumoso Pratama Line.
TAS Offshore profit slashed Malaysian shipbuilder TAS Offshore has seen earnings dwindle dramatically in the third quarter of its financial year.
U-Ming extends loan Taiwan's U-Ming Marine Transport has extended an existing loan facility by $10m to boost the company's short-term financing.
Orbis builds Subsea 7 stake Oslo-listed offshore giant Subsea 7 has revealed that funds controlled by Orbis Investment Management have become its third-biggest shareholder.
Wartsila's positive start Finland's Wartsila has managed to produce a positive performance during the traditionally "soft" first quarter as it boosted its profit and orders.
Arctia buys icebreaker Finland's Arctia Icebreaking is buying a new icebreaker worth EUR 128m ($137.3m) ordered by the country's transport agency.
MOL shifts gear Mitsui OSK Lines (MOL) is investing in four next-generation car carriers at Minaminippon Shipbuilding in Japan.
Russia's nuclear option Russia's Baltiysky Shipyard will complete the world's first floating nuclear power station in 2016.
Horizon takeover cleared The US Department of Justice (DOJ) has cleared Pasha Group's $142m acquisition of the Hawaiian business of Horizon Lines.
TEN targets $98m sale Greek owner Tsakos Energy Navigation (TEN) has revealed it is hoping to raise nearly $98m from its latest stock offering.
PIL boosts Long Beach links Pacific International Lines (PIL) has bolstered its China Transpacific service in a tie-up with K Line and Wan Hai Lines.
Phuket piracy pow-wow Thai, Indonesian, Malaysian and Singaporean officials have met this week in Phuket in a bid to improve their joint campaign against piracy.
MISC up on AET talk MISC has seen its share price hit a seven-year high on speculation over the possible sale of AET Tankers.
FSL secures more stock First Ship Lease Trust (FSL Trust) has carried out the fourth purchase of its own stock in as many weeks.
USCG to host oil spill preparedness conference Two-day event will take place next month in Seattle.
Mexico to invest $5 billion into ports Expansion work at Veracruz port expected to triple capacity over the next 25 years.
Containership orders are like an 'arms race' Overcapacity in the container sector now a 'permanent problem', says OOIL chairman.
Second barge back in service at Augusta Supply to tankers working cargo now possible, says Maxcom.
Singapore fuel oil stocks close to two-year high Inventories up 5% week-on-week.
NGO: Success of sulphur regulation must be emulated for GHG 'Slow' IMO process not all bad, Bellona tells IBC 36.
Wartsila sees first quarter profits rise But market conditions make for cautious outlook.
Vancouver pollution ship to pay bond Payment is to ensure future court appearances.
Open up cabotage trade, say Indian cotton growers Mill owners say bunker tax part of the problem.
Wrecked trawler still leaking fuel Oil slick 'extends for 100 kilometres'.
Investigation on Chinese pollution response firm Company also provides suldge removal services at Chinese ports, says P&I Club.
Asian ship builder wins fuel-efficient boxship orders Orders were for half a dozen newbuildings.
Sweden doubling sulphur testing in 2015 So far 5% of ships have been found non-compliant, but no penalties given yet.
GAC introduces 'HullWiper' to Singapore market The HullWiper is able to reduce hull resistance, decreasing carbon emissions and fuel consumption in process.
Nustar's quarterly fuel sales fall But lower expenses contributed to a four-fold jump in profits.
WTI crude drops as US stocks rise Crude inventories rose by 5.32 million barrels to 489 million last week.
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.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
