Maritime piracy report reveals continued attacks against small tankers in South-East Asia
MOL receives letter of appreciation for transporting relief supplies to Philippines
NYK vessel rescues fishermen in distress
Honda Cars India to export auto components worth INR 1K cr.
London Gateway logistics hub opens
Mumbai Port Trust continues 'Swachh Bharat Abhiyan'
Shipyard project to be considered after work starts at Vizhinjam, says Kerala Minister
Vizag Port retains numero uno position in handling marine products exports
Ministry of Railways holds meeting with banks & financial institutions to sensitise them about opportunities & challenges offered by investment & capacity building plans
ABB India receives INR 125 cr. order from PowerGrid
Alstom India bags eastern dedicated freight corridor project
GST of Centre & states urged to be fixed at around 19.5 pc
Steep fall in rupee on heavy dollar demand from importers
Vancouver expands shore power to container terminals Port Metro Vancouver is expanding its shore power system for berthed ships from its cruise facilities to cover the Deltaport and Centerm container terminals, president and CEO Robin Silvester announced on 22 July. The cost of the project, estimated at more than USD11 million, will be split between
US approves Seattle-Tacoma pact Seattle and Tacoma will soon become America's third-largest container gateway after receiving approval for a marketing and operations alliance from US regulators. The US Federal Maritime Commission (FMC) voted unanimously on 22 July to allow the Port of Seattle-Port of Tacoma Alliance Agreement to
Adani Ports finalises $650m bond offering Adani Ports and Special Economic Zone, the Indian private ports operator that plans to raise USD650 million from its inaugural bond offering, has finalised the pricing of its senior unsecured notes, due 2020. In a filing to the Bombay Stock Exchange today, the company said the offer price is
China Harbour Engineering proposes shipbuilding dockyard in southern Sri Lanka Sri Lanka is considering a proposal by China Harbour Engineering Company to construct a shipbuilding and repair dockyard at Hambantota Port on the south coast. A government spokesman, Health Minister Rajitha Senaratne, told reporters that the cabinet had approved CHEC's plan to do a feasibility
KKR/Borealis take over Commerzbank fleet US private equity firm Kohlberg Kravis Roberts (KKR) and its London-based ship management partner Borealis have bought Commerzbank's distressed ship portfolio, Hanseatic Ship Asset Management (HSAM). The two partners are paying USD255 million for the portfolio of 18 vessels taken over from
Australian ship detentions rise The number of ships detained in Australian ports increased by 15.5% in 2014, according to the Australian Maritime Safety Authority's Port State Control 2014 report released this month. The authority detained 269 ships last year, up from 233 in 2013. Along with the sharp increase in detentions,
Pan Ocean executes new round of debt-to-equity swaps South Korean bulker operator Pan Ocean has executed another round of debt-to-equity swaps. The latest sees 518,789 shares being issued to creditors at a price of KRW12,500 (USD10.80) each. These shares will go to creditors whose unsecured claims were confirmed in Pan Ocean's initial rehabilitation
Keppel eyes more FLNG business Keppel Offshore & Marine (O&M) said it believed the floating LNG (FLNG) sector will be a new growth area, even as low oil prices have slashed rig orders. The Singapore-based rig builder made this announcement on 23 July as parent company Keppel Corporation posted its second quarter 2015 results.
Sainty Marine plans to dispose of four completed Ultramaxes Shenzhen-listed Sainty Marine plans to dispose of four completed Ultramaxes that have been abandoned by Germany's Corbita Maritime Investment. The company will take advantage of the disposal to mitigate its financial hardships and boost its liquidity, a stock filing of Sainty Marine said on 23
Valletta hosts five cruise ships in one go The Grand Harbour of Valletta hosted no less than five cruise ships bringing with them some 14,000 passengers on 22 July. This year is set to be a record year for the Maltese port in terms of cruise passengers, with an estimated 640,000 visitors on the 325 ships due. Studies commissioned by
Court fines Dredging NZ over worker's death A New Zealand court has fined Dredging NZ NZD79,500 (USD52,494) and ordered it to pay NZD42,000 in reparation following a worker's death in Westpark Marina, west Auckland, in 2013. The Auckland District Court sentenced the company on 21 July under Section 6 of the Health and Safety Employment Act
Fortescue triples ore shipments Australian iron ore company Fortescue Metals Group tripled its iron ore shipments during the financial year (FY) 2015, it announced on 23 July. This is despite the company criticising two other top Australian miners - BHP Billiton and Rio Tinto - for increasing output, thereby contributing to a
Italian port reform to be debated in September Italian transport minister Graziano Delrio told a conference of the national ports association Assoporti that the proposed reform of Italy's ports will be debated after the August parliamentary recess. The proposals aim to reform both ports and their supporting infrastructure in an effort to recoup
China calls offshore yards to apply for 'whitelist' inclusion China's Ministry of Industry and Information Technology (MIIT) on 21 July issued a notice to shipbuilders, inviting offshore shipyards to submit applications to be included in the offshore 'whitelist'. Offshore shipyards must submit applications to local ship administrations for initial review
'Business as usual' say DSME creditor banks Daewoo Shipbuilding & Marine Engineering's (DSME's) main creditor bank has asserted that it is still business as usual with the embattled shipbuilder. In a statement issued on 23 July, Korea Development Bank (KDB) said that itself, Export-Import Bank of Korea, and other creditor banks have been
CSSC Leasing grants $960m financial commitment to Golar LNG CSSC (Hong Kong) Shipping Leasing, a branch of China State Shipbuilding Corporation(CSSC), has inked a deal with Golar LNG to provide USD960 million financial commitment for the conversion and leaseback of the GoFLNG Hilli. According to the agreement, CSSC Leasing will fund 80% of the project in
Tanker hijackings still a scourge in Southeast Asia Piracy and sea robbery incidents in Asia were up 18% in the first half of 2015, compared with the same period in 2014, piracy reporting centre ReCAAP ISC'S half-yearly report shows. In particular, there was a substantial increase in the number of petty theft cases on ships sailing in the Straits of
West of England P&I cautions on nickel ore liquefaction The West of England P&I Club has issued guidance on nickel ore liquefaction, after a Malaysian Bulk Carriers-owned bulker listed while shipping such cargo. The nickel ore carried by Maybulk's Alam Manis is believed to have liquefied amid stormy weather when the ship was about 225 nm southeast of
Nagoya's cargo traffic tumbles in April Cargo traffic at Nagoya port, central Japan, declined 8.6% in April from a year earlier to 16.763 million tonnes as both foreign trade and domestic trade slumped, according to preliminary figures released by the Nagoya Port Authority. Of the 16.763 million tonnes, 10.988 million tonnes came from
ILA revamps leadership team with younger blood SAN JUAN, Puerto Rico - Dennis Daggett, son of International Longshoremen's Association President Harold Daggett, was elected Thursday to the union's No. 2 post as several other mostly younger ILA officials also were elevated to higher positions. The changes are being made with an eye on impending negotiations with the United...
California port execs push state government for funding Port of Los AngelesCalifornia port executives Thursday urged key legislative representatives meeting in Oakland to invest in the state's priority trade corridors to stem the loss of cargo to competing North American ports. "Challenges to our business are everywhere - Mexico, Canada and the U.S. East Coast," said Chris Lytle, executive...
Acquisition aimed at giving Descartes' shippers more supply chain visibility Descartes has announced the second purchase of a logistics software firm in three days as the company seeks to bolster its network that provides shippers with more visibility of their shipments while in transit. Shipment visibility is at the core of Descartes just announced purchase of BearWare for $11.25 million, whose...
AIT Worldwide Logistics names Alex Toledo Miami station manager ITASCA, Illinois - AIT Worldwide Logistics is pleased to announce the hiring of Alex Toledo as the company's new station manager in Miami, Florida. With more than 20 years of experience in the supply chain management industry, Toledo brings a wealth of expertise to his new role. He is especially well-versed...
UP profit growth falls despite intermodal volume increase Increased intermodal traffic and higher rates on cargo weren't enough to offset significant overall freight and coal losses in the second quarter for Union Pacific Railroad. Profit at the Omaha, Nebraska railway declined 7 percent year-over-year in the second quarter to $1.2 billion. Revenue fell 10 percent during the same period...
Maersk reliability rubs off on 2M partner, MSC Maersk, the most reliable carrier in the industry, seems to be rubbing off on Mediterranean Shipping Co., which has seen its reliability improve since joining the 2M Alliance. The shipping analyst Drewry says that since the 2M Alliance became operational in mid-January 2015, MSC's reliability has improved 10 percent from 54...
Maersk hooks Vladivostok fish business Maersk Line has signed an agreement with the Vladivostok Sea Port, one of Russia's largest seaports, for regular container transport of fish and fish products from the Far East port to the central regions of the country. The volume generated from the agreement is expected to be 170,000-200,000 twenty-foot-equivalent units of...
Carriers cut container investment as they hike ship spending LONDON - Ocean carriers are spending heavily on new ships but are less keen to invest in new containers, according to Drewry Maritime Research. Carriers and charter ship-owners spent an estimated $10 billion on orders for new vessels with a capacity of 1.06 million 20-foot-equivalent units in 2014 and $9.5 billion...
Panalpina Q2 profit down on weak ocean, air freight LONDON - Panalpina's earnings dipped two percent in the second quarter on sluggish growth in ocean container traffic and a decline in air freight volumes. The Swiss global forwarding and logistics group posted a consolidated profit of 25.7 million francs ($27 million) against 26.2 million francs in the same period in...
Costs, competition drag down Container Corp. of India profit The combined impact of rising operating costs and sluggish domestic intermodal volume growth amid intense competition from private rail operators drove state-owned Container Corporation of India's first quarter net profit down 26.5 percent from year-over-year to approximately $32.5 million. The sharp fall in net earnings came even as Concor's income during...
AirBridgeCargo growth leaves rivals grounded LONDON - AirBridgeCargo's traffic grew 17 percent in the first half of the year as Russia's largest all-cargo carrier pulled further ahead of its European rivals. The Moscow-based airline transported 218,000 tonnes (240,340 tons) of freight across its growing global network, while volume measured by freight tonne kilometres surged 22 percent...
Vancouver to invest in on-shore power for ships Deltaport, Port Metro VancouverPort Metro Vancouver announced Wednesday that it will invest $12 million to install shore power at the Deltaport and Centerm terminals to reduce harmful diesel emissions from container vessels at berth. The projects, expected to be operational by March 31, 2017, will each eliminate 75 tons of...
Manila yards half full and ready for action, port authority says HONG KONG - The two terminals in Manila that experienced chronic congestion for much of last year are currently just over half utilized and ready for the peak season, according to the Philippine Ports Authority.Manila International Container Terminal (MICT), the flagship facility of global port operator ICTSI, has 59 percent...
Knight Transportation gets a truckload of profit, revenue Knight Transportation posted solid a second quarter, fueled by strong results in its trucking and logistics divisions. To date, Knight is the only major truckload carrier to report both higher revenue and profit in the second quarter of 2015, suggesting higher rates played a considerable role in the company's second-quarter...
UPS reportedly eyes Coyote as logistics mergers multiply The "Pack" at work in Coyote Logistics' headquarters in downtown Chicago. Photo courtesy Coyote Logistics. Acquisition and merger activity in the third-party logistics and transportation markets is increasingly frenzied, as 3PLs and transport operators look to build the scale and provide the services needed to hook and land large shippers. Talks and...
CMB losses balloon Compagnie Maritime Belge (CMB) saw its first-half result sink deeper into the red as bulker owner subsidiary Bocimar suffered from twin blows of bulker sale losses and declining charter rates.
Carnival boosts Chinese fleet Carnival Corporation is making good on its promise to focus on the Chinese market as it revealed plans to add two more ships to its Asian fleet.
Borealis eyes more bulkers Christoph Toepfer says dry ships in Commerzbank fleet deal may not be the last to join Borealis fleet.
Scorpio sheds Dorian stake Scorpio Tankers has cashed in its remaining stake in Dorian LPG to complete a successful investment in the VLGC market for the products tanker owner.
Mile-Stone for Princess Princess Cruises has brought a famous chef onboard in its effort to enhance its cruise services.
PGS turns red in Q2 Petroleum Geo-Services (PGS) has slipped into the red in the second quarter as reduced spending from oil companies impacted the overall market.
Borealis in Commerzbank coup British owner completes its second fleet deal with bank in under a year, taking fleet past 50 ships.
Cosco Shipping VP exits Cosco Shipping has seen its vice chairman resign after more than 20 years with the company.
Keppel O&M profit down Distress in the offshore business has taken a toll on profit at Keppel Corp's offshore and marine arm.
Carnival goes to Barcelona Carnival Corporation is boosting its European presence by building its second private cruise terminal at the port of Barcelona, Spain.
GulfMark's losses grow GulfMark has seen its poor start to the financial year continue with losses mounting in the second quarter.
Guard-'con' Bimco claims that a number private maritime security companies (PMSCs) are using 'non-authentic' copies of its Guardcon contract.
SCI boxship arrested The Shipping Corporation of India (SCI) has seen one of its modern containerships arrested in Singapore.
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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