Stolt-Nielsen acquires three 5,800 dwt parcel tankers from Odfjell Stolt-Nielsen, the London based chemical carrier, tank container, and terminals group said its Stolt Tankers subsidiary has agreed to acquire three 5,800 dwt fully stainless steel parcel tankers from Odfjell Tankers AS, which is part of the Oslo listed Odfjell group. "The ships, which were built in
Experts call for heightened ship cyber security systems Companies whose operations rely on programmable control systems, which could include ships and offshore structures in the maritime industry, are increasingly becoming a target for cyber threats. Insurers and reinsurers should come up with policy covers to help their clients mitigate the risk,
Carnival outshines forecast Carnival Corp has more than doubled its quarterly profits as a result of a greater than expected rebound in passenger spending. The cruise giant reported net income of USD222 million for 2Q15 versus USD98 million in 2Q14. Excluding non-cash and special items, adjusted net income was USD193 million
GasLog transfers three LNG carriers NYSE-listed GasLog Partners is selling equity to acquire three LNG carriers from parent GasLog Ltd. On 22 June, GasLog Ltd announced the sale of the 145,000 cbm, 2007-built Methane Alison Victoria, Methane Shirley Elisabeth, and Methane Heather Sally to the partnership for USD483 million. The
Singapore premier opens expanded Pasir Panjang Terminal Singapore prime minister Lee Hsien Loong opened the expanded Pasir Panjang Terminal on 23 June. Known as the Phases 3 and 4 development, the expansion will add 15 berths with a 6 km quay length to the container terminal's existing 52 berths. The new berths have an 18 m-deep draught. A few of the
Sage Sagittarius inquest hears of captain's gun running, death threats and intimidation A key witness at the NSW Coroners Court Inquest into two deaths on board the Sage Sagittarius in Sydney today (23 June) testified that the crew all feared the ship's captain and thought they would be next to die. When asked if he believed the chief cook, who disappeared from the Japanese coal
Global container traffic in decline Container lines have been delivered some unpleasant news as they steer into what should be the summer cargo peak season. German research institutes RWI und ISL today warned that global containerised cargo flows appear to have contracted last month (May). Their monthly Container Throughput Index,
Indian port congestion ties up to 5% of VLGC capacity Port congestion in India means that up to 5% of the global VLGC fleet's transport capacity is held up there and, despite major investment plans, the situation is unlikely to change in the near future, shipping analysts at Pareto in Oslo said. "Theoretical port capacity should be in the 5.0-6.0
Chinese yards January-May profit up 17% y/y Eighty-eight Chinese shipbuilding companies under the watch of China Association of The National Shipbuilding Industry (CANSI) posted a profit of CNY2.06 billion (USD330 million) for the first five months of 2015, up 17% year on year (y/y). The shipyards recorded a combined revenue of CNY102
China extends subsidies for scrapping old tonnage China has extended the subsidies for domestic shipowners who scrap old tonnage and order new vessels to match the retired tonnage by two years, said a circular of the Ministry of Transport published on 23 June. In December 2013, the Chinese government unveiled a polished version of the subsidy
Seoul to lessen wait times with integrated port passes South Korea's Ministry of Oceans and Fisheries (MOF) plans to give an integrated pass to vehicles and drivers to access all 24 container terminals in the country. This move aims to strengthen port security and to reduce the time visitors spend in being allowed to enter ports. The MOF said through
Bank of Suzhou sues Sainty Marine over $6.4m loan dispute Shenzhen-listed Sainty Marine has been sued by Bank of Suzhou over a CNY40 million (USD6.4 million) loan dispute, the second lawsuit brought against the company in the wake of a series of defaults on debts. On 12 June, the Bank of Suzhou filed the lawsuit against Sainty Marine and its parent
Ship recycling market winds down Ship recycling sales slowed from 15 to 19 June as the monsoon season and Ramadan took their toll on the market. In addition, brokers suggested that with the recent rebound in dry bulk freight rates, owners might be less willing to scrap ships. The Baltic Dry Index's drop to an all-time low in
Chinese shipyards' new orders slump 77.4% y/y Chinese shipyards' new orders slumped 77.4% year on year (y/y) to 7.86 million dwt in the first five months of 2015, China Association of the National Shipbuilding Industry (CANSI) said. The orderbook of Chinese shipbuilders fell 8.2% y/y to 138.18 million dwt at the end of May, down 7.5% from the
SSA: Need to differentiate between piracy and sea robbery The Singapore Shipping Association (SSA) has emphasised that there is a difference between piracy and sea robbery and the media should know this as sovereign states respond differently to each incident type. In a statement issued on 22 June, the SSA said that a study it commissioned showed that
VLGC rates cross $120/tonne mark on firm demand Rates to haul LPG on very large gas carriers (VLGCs) have exceeded USD120/tonne as charterers have been fixing ships in both the east and west of Suez. As at 22 June, the Baltic Exchange assessed the benchmark Gulf-Asia Pacific rate at USD121.875/tonne, up from USD116/tonne on 15 June. Rates have
Japan to fund Samoa port project Japan will provide JPY3.477 billion (USD28.3 million) in grant-in-aid for a project to enhance the safety of Apia Port in the Pacific island country of Samoa. The diplomatic notes concerning the provision of the aid were signed in Samoan capital Apia on 22 June by Japanese ambassador to Samoa
South Korean carriers and ports join fight against MERS outbreak Shipping players take preventive measures against fatal epidemic though actual disruption has been limited
Stolt-Nielsen comes out as buyer of Odfjell's three parcel tankers Oslo-listed Stolt says ships are a perfect fit for its fleet
Alliances need to keep a tight grip on ship supply MDS Transmodal estimates that global demand in the first quarter of 2015 grew at a higher rate than a year earlier, but still not fast enough to narrow the gap with capacity
North Sea aframax earnings leap by $11,000 in a day Baltic Exchange index shows rate of $83,000 per day, highest spot earnings level since January 2014, as crude tankers march onwards
Hanjin Group denies link to alleged illegal lobbying for job South Korea's largest transport group says it's not associated with a warehouse that gave a high-paid job to the brother-in-law of an opposition lawmaker
GasLog Partners agrees three more LNG carrier dropdowns Trio of BG-chartered vessels looks set to trigger distribution increase
Global Gateways: Asia (excluding China) In the rush of mega containerships and new alliances there are bound to be winners and losers. Singapore is sitting pretty at the top of the Asian league, but there has been dramatic growth further down the table
Global Gateways: Latin America In the rush of mega containerships and new alliances there are bound to be winners and losers. In Latin America, with the opening of the newly expanded Panama Canal, PSA and PPC are gearing up for increased transhipment growth
Global Gateways: North Europe In the rush of mega containerships and new alliances there are bound to be winners and losers. In North Europe, new terminals in Rotterdam are set to shake up the region and put pressure on Bremerhaven and Hamburg
Global Gateways: North America In the rush of mega containerships and new alliances there are bound to be winners and losers. Berth congestion and labour unrest have caused havoc on North America's west coast, which seems to have bolstered a good year for east coast ports
Global Gateways: Mediterranean In the rush of mega containerships and new alliances there are bound to be winners and losers. In the Mediterranean upheavals have continue for Piraeus since Greece's general election, with an added threat coming in the shape of high investment in Turkey's ports
Global Gateways: Middle East/South Asia In the rush of mega containerships and new alliances there are bound to be winners and losers. The Middle East/South Asia region has seen continued growth, with Dubai topping the list
Global Gateways: China In the rush of mega containerships and new alliances there are bound to be winners and losers. Despite a slowdown in China's growth, 5% represents a tremendous increase in traffic for Shanghai, the world's biggest port
MyFerryLink wildcat action closes Calais All ferry services ex-Dover cancelled as users warned to expect disruption
ICTSI backs US labour law amendment Legislation would help prevent slowdowns such as those that hit west coast ports earlier this year
Globus Maritime posts first-quarter loss Greece-based bulker owner expects improved rates later this year
Hapag-Lloyd beefs up Turkey-Israel service amid signs of volume gains Hapag Lloyd is adding the port call of Ashdod, Israel, to its service connecting the country with Turkey and said it will begin calling on Iskenderun, Turkey in late July through an unspecified service. Beginning July 4, the Turkey Israel Express's new port rotation will be: Damietta, and Port Said (East),...
Six-year highway bill designates freight dollars but still needs funding WASHINGTON - A bipartisan committee in the U.S. Senate has unveiled a new six-year surface transportation reauthorization bill that includes more than a quarter-trillion dollars in infrastructure investment and designated funding for freight corridors. Shippers and transportation providers tired of uncertain highway funding and the congestion is ultimately causes would be...
Days of historically low US logistics costs seen coming to end WASHINGTON - Tightening capacity fueled by growing demand spells the end to historically low logistics costs, according to the latest State of Logistics report out of the Council of Supply Chain Management Professionals. The cost of U.S. business logistics rose 3.1 percent to slightly less than $1.45 trillion in 2014 and...
APM Terminals Mobile helps commemorate first jetliner component delivery Mobile, Alabama -Trucks carrying five sections of the first Airbus A320 passenger jetliner to be assembled at the new $600 million Brookley Aeroplex left the APM Terminals Mobile terminal in a colorful convoy Sunday for the three-mile final leg of their journey as the first airline component delivery for final...
CMA CGM launches new advertising campaign in the US The CMA CGM Group is pleased to announce the launching of its new advertising campaign in the US. Present in the US since 1997, and based in Norfolk, Virginia, CMA CGM has continuously expanded its presence in the country. New lines have been launched, new port calls have been touched. By...
MOL liner, container terminals will cooperate to boost ailing profitability The new head of MOL Line said its container line will cooperate more with its nine terminals in order to boost profitability after losses from its liner business deepened to 9.5 billion yen ($76.6 million) last fiscal year. Junichiro Ikeda, who became president of the Japanese company Tuesday, warned shareholders and...
US truck tonnage rises, but surplus inventories slow demand Truck tonnage bounced back in May, rising 1.1 percent after dropping 1.4 percent in April, according to the American Trucking Associations. However, slower manufacturing output and a broad-based inventory reduction among U.S shippers depressed freight volumes. "The good news is that truck tonnage increased in May," ATA Chief Economist Bob Costello...
New Panama locks to open in April, but at higher cost The new locks at the Pacific end of the Panama Canal began to fill with water this week in preparation for months of testing of their new gates before they open to commercial traffic in April 2016. The flooding to the Pacific locks, following that of the Atlantic locks earlier this...
English Channel traffic snarled by ferry worker strike Trucks in line for a ferry to Calais, France from Dover, United Kingdom.A strike by employees of MyFerryLink has closed Port of Calais, snarling trucks seeking to use ferry services to cross the English Channel, according to the BBC. Part of the English M20 highway has also been closed to make...
Transport attorney: Politics not facts drive US trucking regulation SAN DIEGO - A veteran transportation attorney who remembers fondly the days when the Interstate Commerce Commission issued meaningful regulations, told transportation executives Monday not to expect such fact-based rulings today from the Department of Transportation and the Federal Motor Carrier Safety Administration. "The ICC was an independent regulatory agency," John...
US shippers face higher rates from truck, warehouse capacity tightening Don't have the time to rehash last year and want to know what's in store for the next 18 months? You've got freight to move, so here are the takeaways from the annual State of Logistics report released on Tuesday by the Council of Supply Chain Management Professionals and JOC.com...
NVO business grows on West Coast port congestion The damage inflicted by months of West Coast port congestion and supply chain delays lingers even now, more than a month after management and labor ratified a new longshore contract on May 22. Trans-Pacific volumes at West Coast ports have returned to normal levels, but the ports and carriers that...
Asian airlines keep cargo in growth mode HONG KONG - The first five months the year were good to Asian air cargo carriers that recorded a 6.3 percent increase in demand for international air freight compared to the same period last year, according to the Association of Asia Pacific Airlines (AAPA).While the early months were boosted by...
Shippers sticking with Asia-Europe contracts amid market turmoil The Port of HamburgHONG KONG - Shippers on the over supplied Asia-Europe trade appear to be honoring their service contracts with container lines even as the spot market tumbles to new lows every week.At least half the Asia-Europe container trade sails under annual contracts, with another 25 percent on shorter three...
Current cold chain cannot cope with healthcare demands, DHL says HONG KONG - The global healthcare transportation industry urgently needs a new generation of cold chains to cope with rapidly rising demand for pharmaceuticals, especially from emerging markets, and ever stricter compliance from regulators, according to a new study by DHL.In a white paper, DHL Global Forwarding looked at the...
Nhava Sheva drayage firms' revolt thwarts congestion recovery Container trailer groups in the Nhava Sheva port complex issued a trade notice suspending drayage operations to and from APM Terminals-run Gateway Terminals India, effective Tuesday, sparking another round of congestion woes for shippers and carriers using India's largest box gateway, also known as Jawaharlal Nehru Port Trust. "Our members are...
Volumes slow at China's top 20 ports, SSE data shows HONG KONG - If Hong Kong was added to a table of China's top 20 container ports, it would slot in at number four both in terms of cumulative throughput this year and in May volumes, according to the Shanghai Shipping Exchange.Fourth place is a position Hong Kong port knows...
Shippers appear to be sticking with Asia-Europe contracts amid market turmoil HONG KONG - Shippers on the over supplied Asia-Europe trade appear to be honoring their service contracts with container lines even as the spot market tumbles to new lows every week.At least half the Asia-Europe container trade sails under annual contracts, with another 25 percent on shorter three or six...
Shippers appear to stick with Asia-Europe contracts amid market turmoil HONG KONG - Shippers on the over supplied Asia-Europe trade appear to be honoring their service contracts with container lines even as the spot market tumbles to new lows every week.At least half the Asia-Europe container trade sails under annual contracts, with another 25 percent on shorter three or six...
Volumes slow at China's top 20 ports, SSE data shows HONG KONG - If Hong Kong was added to a table of China's top 20 container ports, it would slot in at number four both in terms of cumulative throughput this year and in May volumes, according to the Shanghai Shipping Exchange.Fourth place is a position Hong Kong port knows...
Current cold chain cannot cope with healthcare demands, DHL says HONG KONG - The global healthcare transportation industry urgently needs a new generation of cold chains to cope with rapidly rising demand for pharmaceuticals, especially from emerging markets, and ever stricter compliance from regulators, according to a new study by DHL.In a white paper, DHL Global Forwarding looked at the...
New Orleans port truckers protest turn times Owner-operator drivers in New Orleans protested truck turn times and construction delays at the Napoleon Avenue Container Terminal, but port officials said the demonstration did not affect operations. A group estimated by WWL-TV at about 50, some carrying signs, gathered outside the terminal to highlight their complaints. New Orleans was the...
Hoosier state is a slam dunk for global shippers, report says Indiana is the place to set up shop if you're a logistics firm or a shipper looking for a state with global market appeal, according to an Indiana state manufacturing and logistics initiative. Conexus Indiana this week released the results of a new study, ranking the U.S. states on the health...
Milan-Charleston LCL service set to launch amid weak volume growth on trade CaroTrans is launching a new weekly, direct less-than-container-load service from Milan to Charleston starting next month, amid weak westbound volume growth on the trade lane. U.S. containerized imports from the Mediterranean rose 0.5 percent in the first four months of 2015, while export volume plunged 17 percent in the same time...
Target says supply chain disruptions demand more collaboration SAN DIEGO - Increasingly frequent disruptions to global supply chains pose a growing threat to U.S. importers and distribution networks, demanding more intensive collaboration among shippers, logistics companies and domestic transport operators, a leading retail shipper said on Monday. "There have been a number of disruptions even since the West Coast...
G6 carriers add ports in bid for cargo on Asia-Europe routes The G6 Alliance is seeking to pick up additional cargo in a weak market by extending one of its Asia-Europe routes to include the Baltic Sea port of Gdansk, Poland, and has revised a separate loop to include a stop at Port Said, Egypt. Asia-to-North Europe volume of all carriers posted...
New Tampa logistics park guns for e-commerce shippers Florida shippers and manufacturers in the Tampa Area Bay can use a new 1,400-acre logistics park to distribute goods, particularly e-commerce items, from the nearby port and other directions leading to the growing population center. The logistics park, known as "Lakeside Station" and located in Plant City, is roughly 30 minutes...
Branson booking three at Fincantieri Flamboyant billionaire Richard Branson can now add the title of shipowner to his glittering CV.
Branson booking three Virgin confirms a trio of vessels at Fincantieri amid promise to redefine the cruising experience.
Stolt snaps up Odfjell trio Stolt-Nielsen has snapped up a trio of tankers offloaded by Oslo-listed rival Odfjell.
Carnival cruises to profit Miami cruiseship owner Carnival Corp has raised its full-year profit forecast as it posted strong earnings growth in the second quarter.
BlueMountain trims TIL stake Andrew Feldstein's BlueMountain Capital has cashed in some of its stock in Oslo-listed shipowner Tanker Investments Ltd.
NewLead fixes handy Greece's NewLead Holdings has fixed one of its bulkers on a "premium" time charter of between three and five months.
Sewol salvage bids in A reported 27 companies vie to raise sunken South Korean ferry.
GasLog Partners chases $215m GasLog Partners (GLOP) is looking to collect over $215m from an equity issue to support a triple purchase from parent GasLog (GLOG).
TNG confirms MR charter Croatia's Tankerska Next Generation (TNG) has secured another long-term deal for a newbuilding.
ER in Brazilian move ER Offshore has grown its position in Brazil by setting up an independent shipmanagement company.
"Death ship" data missing An Australian inquest into two deaths on a Japanese-managed bulker has heard key data is missing from the fatal voyage.
FSL rewards chief executive First Ship Lease Trust has granted chief executive Alan Hatton stock worth SGD 233,333 ($174,373).
Island cuts back Norway's Island Offshore is reducing office working hours to save money in tough North Sea markets.
India aiding tankers A shift in Indian oil imports is the latest piece of good news for tanker owners, according to Arctic Securities.
Premuda halts asset sales Restructuring Italian bulker and tanker owner Premuda says it cannot proceed with asset sales due to the lack of a standstill deal with its banks.
Euroseas clear to reverse Aristides Pittas-led Euroseas has cleared the way for a reverse stock split.
Polar King reigns on Dof Subsea of Norway has declared an optional extension to its charter of a GC Rieber Shipping construction vessel (CSV).
Shreyas buys again India's Shreyas Shipping & Logistics has revealed another addition to its growing fleet.
Centrofin holds on to VLCC Reports last week that Greek owner Centrofin has sold a 15-year old VLCC to Russian interests appear to have been inaccurate.
Worst this century Bulker earnings and newbuilding orders are both running at the lowest level since the turn of the century, Clarksons Research Services says.
China stretches 'scrap and build' China has extended its "scrap and build" scheme by two years, Beijing announced today.
Calais closes Ferries were disrupted on Tuesday morning as the French port of Calais was closed due to strike action.
TTA raising more cash Thai bulker owner TTA is planning to raise THB 2bn ($59.25m) to further finance expansion into new businesses.
Hanjin Shipping raided Korean prosecutors have seized documents and disks from Hanjin Shipping in a probe linked to CEO Cho Yang-Ho.
Stanford in fundraiser Dubai-based offshore vessel operator moves to reduce its overall cost of finance.
Hijacker's "confession" The eight men accused of hijacking a Malaysian flagged product tanker have reportedly "confessed" to the crime.
Parana bulker refloated A German-owned kamsarmax bulker that went aground on Argentina's Parana River on Sunday has been refloated.
GLBS starts in the red Globus Maritime has made a poor start to the new financial year with a loss of $3.3m, figures released Monday show.
FPSOs feel E&P pain The crash in oil prices has led to a dramatic decline in the number and value of awards for FPSO units, new research shows.
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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