Nordic American buys two Suezmaxes for USD122 million Nordic American Tankers (NAT), the US-listed Suezmax owner that is managed from Norway, said it has agreed to acquire two Far East-built Suezmax tankers with an average age of five years for a total of USD122 million. The vessels are expected to be delivered in September and October 2015 and the
Carnival to build one of Europe's largest cruise terminals at Barcelona US cruise giant Carnival Corporation has received approval to build and operate a second terminal at the Port of Barcelona. At 11,500 m², the new Terminal E on the port's Adossat Wharf will be one of the largest in Europe. Carnival plans to begin the final design process and start construction in
French minister proposes Calais peace plan French secretary of state for transport Alain Vidalies has put forward a peace plan aimed at ending the disruption currently affecting cross-Channel ferry services at the French port of Calais. He has asked MyFerryLink seafarers, Danish cross-Channel operator DFDS, and Channel Tunnel operator
Analysis: EU helps Somalia's coastguard The EU's capacity building division has delivered more training and equipment to the Somali coastguard in Mogadishu, although experts warn that the trained officers should also be paid if maritime security efforts are not to fail. EUCAP Nestor (Horn of Africa and Western Indian Ocean) has delivered
Wan Hai tops punctuality survey Taiwanese carrier Wan Hai Lines topped a survey studying liner schedule reliability of the 20 biggest lines for March-May. The survey, by Danish maritime consultants SeaIntel Maritime Analysis, put Maersk in second place. Wan Hai has shown an improved yearly performance from 2012-15, moving from
DS Torm publishes post-restructuring listing prospectus DS Torm, the listed Danish product tanker company that has just completed restructuring its business, has published a listing prospectus to shares that were issued as part of the restructuring. The prospectus covers the more than 95 million A shares with a nominal value of DKK 0.01 (USD0.0015)
Siem Shipping reports firmer interims, eyes new markets Siem Shipping, the listed Norwegian reefer and car carrier owner, says it is looking at other sectors of shipping to expand its business after reporting stronger second quarter 2015 (2Q15) and first half 2015 (1H15) interim results. Group net profit in 2Q15 rose to USD4.8 million from USD3.2
Coastal Contracts sells eight vessels for $34m Malaysian offshore vessel owner Coastal Contracts has sold two offshore support vessels and six low-end vessels for MYR130 million (USD34 million). The transaction takes the company's cumulative sales to MYR1.97 billion, with vessels pending delivery up to 2017. The outstanding orderbook includes
South Korea grants further compensation to Sewol victims South Korea's Ministry of Oceans and Fisheries (MOF) announced on 24 July that a Sewol compensation committee held a meeting and decided on the amount of compensation that the victims' families and survivors would receive. At the meeting, compensation for 15 deceased victims was set at
Shanghai to provide onshore power to vessels this year Shanghai plans to provide onshore power for oceangoing container ships and cruise ships in 2015 to cut vessel emissions while they are at berth. Construction works of the onshore power facilities had kicked off at the Guandong International Container Terminal of Yangshan Deep-water Port and
Cargo carrier sinks in Yangtze River A China-flagged cargo carrier sank in the Yangtze River after colliding with a product tanker on 23 July. Huayun Shipping-owned 4,615 gt Jiang Xia Xiang was ferrying 7,498 tonnes of stone from An Qing to Ningbo when it collided with China Shipping Tanker Company's 42,000 dwt Bai Chi in the
Trial convoys pass new Suez canal Convoys of ships in both directions have passed through the expanded Suez Canal for the first time on Saturday 25 July. The canal has been widened and deepened, adding bypasses on its western side to enable the canal to double its daily capacity from 49 to an estimated 97 ships. The website of the
Mercator Lines (Singapore)'s loss worsens The Singapore unit of Indian bulker owner Mercator Lines has seen its loss worsen for the first quarter of its current financial year. For the three months ending on 30 June 2015, the company suffered a USD9.896 million loss, compared with a USD7.123 million loss for the same period in 2014. The
Mokpo to build steel-handling pier The South Korean port of Mokpo has begun building a steel-handling pier to cater to growing steel cargoes. Construction has begun on a pier that could handle an additional 1 million tonnes of steel a year. The Ministry of Oceans and Fisheries said that in the last three years, steel cargo volumes
Kobe's cargo traffic soars in April Cargo traffic at Kobe port in western Japan grew 7.7% in April 2015 from a year earlier to 8.313 million tonnes, as domestic trade posted double-digit growth, according to preliminary figures released by the Kobe municipal government. Of the 8.313 million tonnes, 4.453 million tonnes came from
Tanker ban may hurt Nigeria more than shipowners LLI data shows only 2 of 101 banned ships made regular calls in Nigeria over past 20 months
Singapore OW Bunker decision is 'back to square one plus Owners should think about paying collapsed supplier but would still risk arrest, warns Clyde & Co
Diana draws new BNP Paribas loan to pay off RBS facility Move has no link to reports RBS is seeking shipping exit
HMD poised for order recovery South Korea yard wins order for two LPG carriers and negotiates for up to 16 product carriers with Scorpio Tankers
Mercator posts $9.9m quarterly loss Revenues decline by 48%, but Singapore-listed bulker operator has reduced costs
Lest we forget our fourth arm of defence Hopes for the Merchant Navy to avoid being airbrushed from history
Operators of first Asia-Rotterdam train promise more services Unloading containers from the first train from China in Rotterdam.The operators of the first containerized rail train from China to the Port of Rotterdam will be followed by others in August and September, another sign of growing Asia-Europe rail momentum. The train carrying 80 containers left Kunming, Yunnan Province July 5...
UASC appoints new leadership to Board of Directors UASC has announced the appointment of Dr. Nabeel Al-Amudi as the new Chairman of the Company's Board of Directors, and HE Sheikh Ali bin Jassim bin Mohammad Al-Thani, as Vice-Chairman. Both will be responsible for driving the Company's ambitious global expansion plans and spearheading the Company's strategic efforts to...
Port of Los Angeles welcomes Navy vessels to celebrate 'Navy Days LA 2015' SAN PEDRO, Calif. - Three active U.S. Navy vessels will be docked at the World Cruise Center on the LA Waterfront and available for public tours Friday, August 7 through Sunday, August 9, from 10 a.m. to 3 p.m., as part of "Navy Days LA 2015," hosted by the Port...
Operators of first Asia-Rotterdam trains promise more services Unloading containers from the first train from China in Rotterdam.The operators of the first containerized rail train from China to the Port of Rotterdam will be followed by others in August and September, another sign of growing Asia-Europe rail momentum. The train carrying 80 containers left Kunming, Yunnan Province July 5...
US freight volume forecast to grow by double-digits by 2026 U.S. freight volume will jump 29 percent in the next 11 years, with growing energy production resulting in pipelines taking a larger slice of total tonnage, and trucking and railroads' seeing their share shrink, according to report released Monday. Although U.S. trucking will still be the major mover of freight over...
Santos terminal sees explosive growth in first full year BTP, Port of Santos, BrazilBrasil Terminal Portuário handled its one-millionth container Friday when it received a box from the MSC Agrigento, the thousandth vessel to call at the Santos terminal since it opened 20 months ago. BTP, a joint venture of APM Terminals and Terminal Investment Ltd., handled 363,921 twenty-foot-equivalent units...
Modest intermodal growth can't stop NS profit growth decline Norfolk Southern Railway's second-quarter earnings this year were not unlike its Class I counterparts: modest intermodal growth unable to combat declining fuel surcharge revenue and a soft coal market. Net income at the Norfolk, Virginia-based railroad was down 23 percent year-over-year at $433 million for the second quarter. Operating revenue was...
NY-NJ port OKs clean-air measures amid criticism The Port Authority of New York has agreed to several anti-pollution measures while it continues work on future phases of a program to replace older trucks at the East Coast's largest port. But environmentalists aren't content. In an agreement with the U.S. Environmental Protection Agency, the port authority pledged to provide...
China loses soles as production strolls elsewhere NEW YORK - Americans love imported footwear. They bought 2.3 billion pairs of shoes, boots, sneakers, sandals and sundry other styles last year. That comes out to 7.3 pairs for every man, woman and child. While not enough to make Imelda Marcos green with envy, it's enough to turn a...
US port productivity bill stripped of key provision WASHINGTON - Labor and port opposition to legislation that would require U.S. ports to provide monthly productivity reports have stripped out what is the arguably the crux of the bill: productivity reports during negotiations with unionized port labor. When the Port Transparency Act was included in a six-year highway transportation bill, language...
IAG Cargo, Finnair Cargo strike freighter deal LONDON - IAG Cargo and Finnair Cargo have signed an agreement to share space on a freighter service between London Luton and Helsinki airports as the two carriers map out a new strategy following their decision not to operate their own cargo aircraft. The new twice-a-week service flown by a DHL...
Steep decline in Russia container volumes due to sanctions, low oil prices Port of VladivostokRussian container volume plunged 26 percent year-over-year to nearly 2 million TEUs in the first half, as Western sanctions and low oil prices, which drive much of the country's economy, took their toll, according to the Russian Associaton of Seaports. Only Arctic basin basin ports saw a rise in...
Indian private ports on the march, posting double-digit growth Minor ports in India continue to rapidly gain market share on their major public rivals, thanks to aggressive marketing efforts and cargo diversions, with the newest data obtained by JOC.com showing so-called non-major cargo terminals recorded double-digit year-over-year container growth fiscal year 2014-15, which ended March 31. Minor ports, which are...
Carriers in G6 cancel four September sailings HONG KONG - The G6 Alliance today announced the cancellation of four Asia-Europe sailings in September as carriers on the poorly performing trade route struggle to achieve profitability with a surplus of capacity and low demand.In what it called a "response to changes in market demand," a joint statement from...
TNT Express revenue grows in run-up to FedEx takeover LONDON - TNT Express posted a 6.2 percent increase in second-quarter revenue, driven by a stronger dollar and growing business from small and medium-sized customers. The Dutch logistics group, which agreed to be acquired by its larger rival FedEx during the quarter, grew revenue to 1.76 billion euros ($1.9 billion) from...
Air France-KLM cargo sinks deeper into the red KLM airplane and cargo trucks. LONDON - Air France-KLM's cargo business is sinking deeper into the red as its second-quarter operating loss soared to 78 million euros ($86 million) from 45 million euros a year ago despite desperate cost-cutting measures. This catapulted the Franco-Dutch carrier's total cargo losses over the past four-and-a-half...
Air cargo tracks ocean with rising capacity, weak demand, falling rates HONG KONG - The slack season has hit the air cargo business hard this year with no sign of any improvement on the major trades as momentum steadily drains out of the market and freight rates tumble to new lows.Drewry's East-West Air Freight Price Index fell 1.1 point in June...
Carriers in G6 cancel four September sailings HONG KONG - The G6 Alliance today announced the cancellation of four Asia-Europe sailings in September as carriers on the poorly performing trade route struggle to achieve profitability with a surplus of capacity and low demand.In what it called a "response to changes in market demand," a joint statement from...
No pressure on Temasek to offload NOL, Drewry says HONG KONG - Singapore's Temasek may be interested in offloading some of its underperforming companies such as NOL, but there is no pressing need for the immense state investor to do it on the cheap through a distressed sale, Drewry says.The analyst noted in its Container Insight Weekly that NOL's...
Slowdown sinks VLCCs VLCC spot rates tumbled Monday as charterers started out slow in fixing ships for early August loadings.
Milaha profit surges Qatar Navigation (Milaha) experienced a 26% jump in first-half profit as the shipowner logged improvements across all four main business segments.
Duo split Yasa suezmaxes? Yasa Tankers of Turkey is rumoured to have exited the suezmax market following the sale of its four strong fleet to two prominent public owners.
CMA CGM calling at Iran CMA CGM has reinstated its commercial relationships with Iran following the lifting of international sanctions against the country.
Valemax makes it to China Four years after first giant bulker was due in Dalian one of its sisters makes it into Dongjiakou fully laden.
GMP raises tanker markers GMP Securities has upgraded Teekay Tankers amid an improved profit outlook due to a strong tanker market.
Reach wins renewable job Reach Subsea is establishing its presence in the renewable energy market with a short-term wind farm deal.
Diana bags $165m loan Greek bulker owner lands new facility from BNP Paribas to finance 18 of its 41 vessels.
Paris and Tokyo team up Paris and Tokyo are joining forces to ensure that seafarers are safe when working in enclosed spaces aboard vessels.
DNB dials up STNG numbers DNB Markets has raised its target price and profit forecasts for Scorpio Tankers ahead of the owner's second quarter report this week.
LSC vessels in the clear Lithuania has given an update on Lithuanian Shipping Company (LSC)'s stranded vessels, following bankruptcy drama last week.
UASC bolsters boardroom United Arab Shipping Company (UASC) has strengthened its boardroom with the appointment of a new chairman and vice-chairman.
Japanese majors examined China has joined the US in investigating alleged monopolistic practices by Japanese car carrier owners.
NAT snaps up two tankers Nordic American Tankers has stepped into the sale and purchase market for only the second time in half a decade.
Pan Ocean shares fly Shares in Pan Ocean were on the march today as trading resumed after its takeover by Harim Group.
Bulker capsizes in Shanghai A bulk carrier has capsized after colliding with a China Shipping Development Company (CSDC) tanker.
Sustained dry profit two years off Evercore ISI has downgraded shares in Diana Shipping amid the belief it's too early to call a dry cargo market recovery.
Egypt in new canal project Egypt unveiled plans for another canal as some of the largest owners in the liner business sailed ships through the enlarged Suez Canal this weekend.
NOL takeover taken down Drewry has shot down the chances of Temasek Holdings selling off its majority stake in Singapore's flagship carrier Neptune Orient Lines in the face of renewed takeover speculation.
Siem sights new sectors Siem Shipping is eyeing further diversification moves after branching out from its core reefer business into the car carrier market this year.
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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