Trade deal could renew call for Jones Act changes Authority approved by American lawmakers to fast-track trade deals could rekindle a push by shipowners for greater access to US markets. The US Senate voted on 24 June to establish trade promotion authority, known as TPA. The legislation gives the White House the power to send trade deals to
GSI inks Gotland's LNG ro-pax ferry option China's Guangzhou Shipyard International has secured the option on an LNG ro-pax originally ordered in the second half of 2014. Ordered by Sweden's oldest Passenger shipping Company Rederi AB Gotland the second 1,650 passenger vessel is scheduled for delivery in 2018. Both vessels will run on LNG,
Gener8 IPO prices low Tanker owner Gener8 Maritime has begun trading on the New York Stock Exchange under the ticker symbol 'GNRT' after pricing its initial public offering (IPO) at a sizeable discount. The Peter Georgiopoulos-led company priced its IPO of 15 million shares at USD14/share, 22% below the midpoint of its
Parametric insurance in Africa on the rise Dramatic climate changes have increased investment opportunities for insurance companies keen on providing parametric insurance products to the African market. Climate insurance, though a new concept in some of the emerging markets, could help mitigate impacts of weather changes not only on the
SHI to bounce back from offshore vessels order drought South Korean shipbuilder Samsung Heavy Industries (SHI), having suffered an order drought for drillships and other specialised offshore vessels, is expected to recover once such orders resume, said an analyst. NH Investment & Securities analyst John Yu noted in a research note that Norwegian oil
SLNG, Trafigura signs storage capacity deal Singapore LNG Corporation (SLNG) has reached a deal with trading house Trafigura on excess storage capacity within Jurong Island, Singapore. The agreement allows SLNG, a LNG terminal operator, to optimise its spare capacity utilisation at its LNG terminal, as well as facilitate LNG trading out of
China landslide causes 16 vessels to sink Huge waves triggered by a landslide on the northern bank of Daning River, a tributary of Yangtze River, on 24 June caused 16 vessels berthed along the bank to sink. The landslide, which occurred at 18:40 h local time, triggered waves as high as 5-6 m. Initial checks show no one was on board the
Sete Brasil in talks with COSCO Shipyard Group to build two drilling rigs Sete Brasil said it is in the early stage of talks with COSCO Shipyard Group to order two semi-submersible drilling rigs. The rigs will be deployed in Petrobras' development of offshore projects in Brazil, Sete Brasil project head Jose Francisco Dutra said at the China Offshore Finance Forum 2015
Ezra explores sale-and-leaseback deal Singapore-based brokerage house UOBKayHian has speculated that shipbuilder Ezra Holdings may consider a sale-and-leaseback deal of its vessel Lewek Constellation to ease the company's financial burden. "We understand from shipbrokers that Ezra is exploring a possible sale and leaseback of Lewek
Capesize rates hit 2015 high Capesize rates have reached its highest in 2015 as Brazilian iron ore cargo volume scored a year-to-date record. From 15-19 June, 12 Brazilian iron ore cargoes came to the market, six more than the previous week, and up from the trailing four-week average. The Baltic Capesize Index assessed
Vard acquires automation firm for new products Singapore-listed shipbuilder Vard Holdings has acquired automation company ICD Software in a move to strengthen its equipment and solutions portfolio. The acquisition was completed by Vard's subsidiary Seaonics, which supplies winches, cranes, and handling equipment to offshore and maritime
Moody's upgrades China Merchants Holdings International 's issuer and senior unsecured debt ratings Moody's Investors Service has upgraded China Merchants Holdings International (CMHI)'s issuer and senior unsecured debt ratings to Baa1 from Baa2, with the rating outlook stable. "The upgrade of CMHI's issuer and senior unsecured debt ratings is based on Moody's expectation that the company will
Thenamaris surfs rising VLCC interest Price ideas for big tankers have softened but remain in the eye of the beholder
Monarch linked to boxship sale to SFI A rare big score for private equity out of trio ordered with Capital Maritime
Products trade strengthened as US refinery capacity hits 18m barrels per day Further US refinery expansions will materialise this year, adding fresh cargoes for product tankers hauling out of the US Gulf
Torm restructuring could be complete in three weeks Latest small step in UK High Court paves way for scheme of arrangement to be enforced
Ocean Three leads capacity cull as Asia-Europe trades slump CMA CGM's Nicolas Sartini says the three-month withdrawal programme may be extended if conditions do not improve by the fourth quarter
Australian grain handlers and shipping companies joust over delay fees Schedule delays arising from ships failing government surveys prove to be a headache for shipping community
Encourage your kids to go to sea It may once have been popular to 'run away' to sea, but now we need to get young people to run towards maritime careers
Petredec buys four gas handysizes at $186m Deal with high German component content backed by KfW-IPEX
Washbourn, Sandle and Golder top marine underwriters' poll Beazley and XL Catlin stars picked by peers
APMT to halt Houston operations But Maersk will continue with its services into the US port
#CareerAtSea hashtag marks Day of the Seafarer
IMO launches social media campaign 'Slow government approvals process' impacts proposed budget and timelines on $7.7bn Carmichael coal project in northern Queensland
Pat on the back for UASC as FMC lifts pricing restrictions Middle East line granted exemption from controlled-carrier status
Kuehne + Nagel to buy US multimodal 3PL ReTrans The Kuehne + Nagel Group is lengthening its trans-Atlantic reach by acquiring ReTrans, a Memphis, Tennessee-based non-asset multimodal transportation brokerage with more than $500 million in annual revenue. The purchase extends the reach of Kuehne + Nagel, the second-largest global 3PL, far beyond U.S. ports and into the nation's industrial heartland. The acquisition...
Charleston port deepening plan moves forward WASHINGTON - The plan to deepen Charleston's harbor to accommodate the latest and largest container ships calling the U.S. East Coast received a key vote of approval Thursday. The U.S. Army Corps of Engineers Thursday unanimously approved a final feasibility study and environmental impact report on the South Carolina port project,...
Tiger Cool Express names new vice president of marketing Overland Park, KS, June 25, 2015 - Tiger Cool Express LLC, an innovative and cost effective temperature-controlled intermodal transporter of produce and food products, announced it has named Ms. Cortney Keenan as Vice President of Marketing for the Company. Keenan is a graduate of the Sellinger School of Business and Management...
PortMiami receives second CMA CGM shipment of Egoo Energy Drinks from Poland Miami - PortMiami celebrated the arrival of the second shipment of Egoo Energy Drinks from Poland brought by CMA-CGM Group to PortMiami with a plaque ceremony and reception. Egoo Energy Drinks will soon be on the shelves of Whole Foods and Winn Dixie Grocery Stores throughout Florida thanks to CMA-CGM Group,...
R. J. Corman Railroad reaches agreement with Carolina Southern Railroad NICHOLASVILLE, Ky. - A long awaited deal to get the Carolina Southern Railroad operational and productive moved forward this week as Kentucky-based R. J. Corman Railroad Company and current owner Ken Pippin agreed to finalize the $13.9 million sale by the first of August. The 80-mile line extends from Mullins, SC...
Westfalia wins third consecutive top Green Providers Award York, Pa. - Westfalia Technologies, Inc., a leading provider of logistics solutions for manufacturers, warehouses and distribution centers since 1992, announces that it has won its third consecutive Food Logistics Top Green Providers Award for helping the food and beverage industry enhance sustainability in their supply chains. With its "Go...
Teddy Gleason Scholarship winners selected for 2015 NEW YORK - The International Longshoremen's Association, AFL-CIO and New York Shipping Association, Inc. yesterday announced the eight winners of the 2015 Teddy Gleason Scholarships. The two trustees of the Scholarship Program, General Vice President, Stephen Knott filling in for ILA President, Harold Daggett and NYSA, Executive Vice President, Charles Darrell...
LTL trucking costs rise in Canada: Nulogx Canadian shippers paid slightly less overall to move goods by truck in April than in May, though they're still paying more than a year ago, the Canadian General Freight Index shows. The CGFI also showed intra-Canada and cross-border less-than-truckload rates increased in April. The index, sponsored by freight payment company Nulogx,...
Daggett: ILA won't yield on chassis inspections International Longshoremen's Association President Harold Daggett said the union won't halt what the American Trucking Associations contends are illegal inspections of intermodal chassis at East and Gulf Coast ports. "That's never going to happen, not on my watch," Daggett told JOC.com. "We're not going to let any chassis roll off these...
US productivity port bill advances amid pushback WASHINGTON - A bill that would require U.S. ports to provide monthly productivity reports to the federal government cleared a legislative hurdle Thursday. After a failed attempt to abort key provisions in the bill, though, it's clear lawmakers are divided on the legislation, an effort to avoid a repeat of...
Brazil concession process takes two steps forward, one back In a familiar turn, Brazil's effort to attract 10 billion reais ($3.23 billion) of investment for its port sector in recent weeks took two steps forward and one step back. Special Ports Ministry head Edinho Araujo has heeded industry advice and is trying to change the criteria of the concession bid...
ILA contract extension could run through 2025 The new or extended contract being explored by International Longshoremen's Association and its East and Gulf Coast employers could run until 2025, seven years beyond the current agreement's 2018 expiration. "It could be a seven-year extension. It could be a brand-new contract. Everybody's saying 10 years, but we haven't really decided...
Slide show: Top 10 US Exporters, 2014 The 2014 JOC Top 100 Exporters rankings once again are led by businesses engaged in recycling operations and industrial companies. The following slides offer a quick look at the Top 10 companies on the 2014 list. For more on the Top 100 Exporters, please visit our Special Topics page on...
Shanghai to allow foreign carriers to serve coastal markets Shanghai will allow foreign shipping companies registered with the city's free-trade zone to offer coastal services, the latest sign of the Chinese government effort to reform its state-dominated shipping sector. The new cabotage rights come with two caveats, one is that carriers must ship containers of foreign trade, meaning domestic trade...
India approves revised estimate for large rail investment In a significant infrastructure investment push, the government of India has approved new cost estimates for its long-planned eastern and western dedicated freight corridor projects, designed to upgrade intermodal connectivity between hinterlands and gateway ports in the country. The government now estimates the two rail transport projects would require a total...
Vietnam state study slams shipping surcharges as unclear and high Cat Lai Port, VietnamHONG KONG - An inspection by Vietnam's Ministry of Finance has found that many of the scores of surcharges imposed on customers by 20 foreign shipping lines were unclear and unreasonably high.The surcharges accounted for 34.4 percent of the total fees of more than $3.53 billion the...
China's big three cargo airlines will merge, aviation boss says HONG KONG - China's three largest cargo airlines will join forces to form the largest air freight carrier in Asia, according to a senior official at the Civil Aviation Administration of China, mainland state media reported.The three merging companies are Air China Cargo, China Cargo Airlines and China Southern Cargo,...
Hong Kong private equity firm buys into China warehousing sector HONG KONG - China's rapidly developing logistics property business continues to attract investment from outside the industry with a Hong Kong-based real estate private equity firm the latest to jump into the booming warehousing market.Gaw Capital Partners has reached an agreement with Vailog China for the acquisition, development and management...
China's One Belt, One Road strategy takes to the air Expanding air links with countries along the Silk Road will benefit China's big carriers.HONG KONG - The transportation focus of China's One Belt One Road strategy has so far been on improving maritime and rail links with Europe, Asia and Africa, but Beijing this week brought aviation into the picture,...
Hong Kong equity firm buys into China's warehousing sector HONG KONG - China's rapidly developing logistics property business continues to attract investment from outside the industry with a Hong Kong-based real estate private equity firm the latest to jump into the booming warehousing market.Gaw Capital Partners has reached an agreement with Vailog China for the acquisition, development and management...
UASC gains exemption from US controlled-carrier list requirements United Arab Shipping Co. gained regulatory breathing room Wednesday when the U.S. Federal Maritime Commission unanimously voted to grant the the Qatar-controlled carrier exemptions from filing rules required by it being on the "controlled carrier" list. The Controlled Carrier Act requires the FMC to maintain a list of shipping lines that...
New Orleans port says truckers agree to end protest Independent truckers at the Port of New Orleans have agreed to end a three-day protest, a port official said. The drivers had been complaining of slow turn times and unpaid repositioning of damaged containers. More than 100 drivers have gathered daily since Monday outside the entrance of the port's Napoleon Avenue...
Asset tracker SkyBitz to buy two transport telematics firms Telematics company SkyBitz will acquire Reltima and GPS North America, two commercial telematics companies in the local fleet management business. Reltima provides global positioning system-based fleet management solutions and GPS North America is a distributor. Increased demand for mobile, end-to-end networked computing systems in freight distribution is spurring acquisitions among telematics...
Gener8 down on debut Gener8 Maritime struggled in early trading today as the tanker owner made its debut on the New York Stock Exchange.
Dredger sinks in India India's coast guard has rescued four crew after their dredger sank.
Svitzer orders tugs Maersk's towage division boosts UK fleet with order at Damen's yard in Vietnam.
EU/IMF urge Greek tax rise Greece's international lenders are asking the debt-laden country to hike vessel tax, according to a draft document leaked on Thursday by the Financial Times.
Brokers end LMB Bulk plan Maersk Broker and Lightship have abandoned plans to bring their dry cargo chartering divisions together under the banner of LMB Bulk Chartering.
The case for bulkers Two in three Greek shipowners and managers would invest in the dry bulk market rather than in tankers now, a poll taken at the TradeWinds shipowners forum in Athens showed.
KG claws pulled The German KG market will probably survive but on a smaller, saner version than before, a senior German banker told the TradeWinds forum in Athens on Thursday.
PDVSA takes Russian imports Russia's Rosneft has clinched a one-year deal to export Urals crude to Venezuela's state owned oil company PDVSA.
Torm sets a date Torm expects to complete a deal that will see Oaktree take a controlling slice in the tanker owner within the next month.
Mercator picks dredger duo Mercator Limited has become the second largest dredger owner in India following the addition of two units.
Glencore sued in arms case Commodities giant Glencore is being sued by a Nigerian trader who claims it failed to pay him for help in freeing 15 Russian crew held on arms smuggling charges.
Petredec funds four Petredec has wrapped up financing for a quartet of newbuiildings.
Greeks want debt cut Four in five participants at the TradeWinds' shipowners forum taking place in Athens on Thursday think Greece's international lenders should bite the bullet and reduce the country's sovereign debt to make it viable.
Iran seeks $782m Iran is looking for as much as EUR 700m ($782m) for the construction of a new international shipping hub.
Norwegian strike off A strike by Norwegian oil workers has been called off after a new wage deal was agreed.
Navix strikes again Navix Maritime Chartering has secured its second contract in a month with a deal to take on commercial management of a Kazmortransflot tanker with the potential of more to come.
Gotland adds LNG ro-pax Sweden's Rederi AB Gotland has signed for a second new LNG-fuelled ro-pax in China.
Levy quits exec role Rand Logistics' founder Laurence Levy has resigned as executive vice chairman in a bid to streamline the company's management.
DSME: no STX France deal South Korea's DSME has confirmed it will not be buying STX France.
Saga Welco scoops COA Norwegian open-hatch bulker company Saga Welco has concluded a major contract of affreightment (COA) to carry woodpulp for Brazil's Fibria Celulose.
Jail and whipping Nine Indonesian hijackers have been sentenced to spend 10 years in jail and be whipped once for robbing a Malaysia-flagged chemical tanker in January.
UASC exempted The US Federal Maritime Commission (FMC) has exempted UASC from its controlled carrier rule due to its transparent communications.
Eight eye research ship Babcock International's Appledore Shipyard has made it on to the shortlist to build a £200m ($313.65m) polar research vessel for the UK.
Tamai back at Oshima Japan's Tamai Steamship has returned to Oshima Shipbuilding for a new handymax.
Boskalis' African hat trick Royal Boskalis Westminster has secured three dredging-related contracts in Africa worth a combined EUR 75m ($84m).
Officer shortage receding The shipping industry officer crew shortage is said to be receding, according to a new study compiled by Drewry.
SBLK sells third ship Seventeen-year-old panama latest bulker to exit The US-listed Greek shipowner's fleet.
Japan orders up on 2014 Japan's newbuilding orders saw a three-fold increase in gross tonnage terms in May compared to a year ago, latest figures show.
Gener8 gets $210m Gener8 Maritime has completed its initial public offering on the New York Stock Exchange at $14 a share, well below the target price range of $17 to $19.
'Modest correlation' between VLCC speed and bunker prices But impact of speed on the effective size of the fleet 'can be far more significant than newbuilds and demolitions'.
Singapore fuel oil stocks begin to fall July arbitrage volumes are expected to be the lowest in six months.
Australian sulphur regulation 'does nothing to reduce emissions materially' But cost increase can make region less attractive for cruise ships, says RCCL official.
LNG: 'It's not the environment - it's just plain cheap' 'Low prices are driving demand for LNG as a bunker fuel,' says US-based martime consultant.
Egypt signs deal on fuel oil supplies 'Rosneft will be able to supply products directly into Egypt.'
China's sulphur regulations 'moving at a remarkable pace' 'Very interesting, albeit predictable regulatory development,' says industry player.
Diesel demand weak over long term Marine and land demand patterns will be shaped by regulation, says analyst.
LNG bunkering facility to be constructed in Italy Facility could be online within 18 to 24 months, says spokesman.
Titan Petrochemicals arranging meetup with creditors Will present proposals for a 'certain, expedited recovery', it says.
Emissions analyser receives class certification The product is able to ensure emission compliance within ECAs, says spokesman.
Crude drops as US gas, distillate inventories strengthen However, US crude stockpiles fell for an eighth time 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.
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