US standardises marine casualty reporting US regulators have issued guidance to help simplify marine casualty reporting compliance for shipowners and operators. In its Navigation and Vessel Inspection Circular 01-15, the US Coast Guard noted that due to the complexity of marine casualty reporting and inconsistent enforcement, "additional
SBM Offshore completes biggest ever FPSO financing Netherlands-based SBM Offshore has completed the USD1.55 billion financing of the FPSO Cidade de Saquarema - the largest project financing ever organised by the group. The new financing package, which involves loans from 16 international banks and insurance cover from four export credit agencies,
Toll group sets up logistics hub at Singapore mega-port Australian logistics provider Toll Group is to build a hub in Singapore to capitalise on the new mega-port coming to the western part of the city-state. On 27 July, Toll, now part of Japan Post, said it would build a 100,000 m² Toll City logistics hub in Singapore's Tuas industrial estate, where
No crew deaths on UK vessels for first time in 50 years Last year saw the first time no seafarers died aboard UK flagged vessels over 100 gt, the Marine Accident Investigation Branch reported. Before 2014, UK vessels averaged four deaths per year for the past decade, the MAIB said in its annual report released on 27 July. The MAIB's records go back 50
Scorpio Bulkers takes big financial hit NYSE-listed Scorpio Bulkers has booked a major write-down on divested newbuild contracts and remaining orders held for sale. The Emanuele Lauro-led company posted a net loss of USD138.6 million for 2Q15 versus a loss of USD15 million in 2Q14. Excluding one-time items, the adjusted net loss was
Profit sharing boosts Navios Midstream Angeliki Frangou-led VLCC owner Navios Midstream Partners has reported strong profits in its latest quarter and cited increased chartering activity in the market. NYSE-listed Navios Midstream posted net income of USD5.4 million and adjusted net income of USD7.1 million for 2Q15. The partnership was
Older VLCCs lead price recovery Prices for older secondhand vessels in the VLCC market are rising faster than for younger ones, while newbuildings are unlikely to see any increase in the near future, according to shipping analysts at DNB Markets in Oslo. The price of a five-year-old VLCC had risen to USD84 million, while a
Statoil trims 2015 capex by USD500 million in 2Q report Norwegian oil company Statoil announced in its 2Q15 interim results statement today that it will trim its 2015 capital expenditure by USD500 million from an earlier forecast to an expected USD17.5 billion. It was the second time this year the company reduced its 2015 capital expenditure plans
Turkish ship accused of fleeing Malta arrest A Turkish-registered general cargo ship has been accused of fleeing arrest in Malta over an unpaid bunkering bill. Several local Maltese news sites reported that 1993-built Feyza Genc allegedly left Malta at night after being detained by the coastguard over a EUR45,000 (USD49,715) unpaid bill due
DFDS resumes Dover-Calais sailings after 'positive' talks Danish cross-Channel operator DFDS resumed sailings between Calais and Dover this morning after a "positive" round table meeting organised by French Secretary of State for Transport Alain Vidalies in Paris yesterday. DFDS suspended its sailings between the two ports on Sunday after disturbances in
MOL sets up barge terminal in Bangkok Japan's Mitsui OSK Lines (MOL) is setting up a barge terminal operation company in Bangkok aimed at moving goods more speedily and efficiently, it announced today (28 July). Bangkok Barge Terminal Company will be a joint venture with local Thai company SahaThai Terminal and is due to start
CMA CGM takes delivery of biggest Chinese-built box carrier French container line operator CMA CGM has taken delivery of the biggest container carrier ever built by a Chinese yard. The 18,000 teu Vasco de Gama, which measures 399 m by 54 m, was handed over to the Marseilles-based group yesterday by China State Shipbuilding Corporation (CSSC). It is the
Two dead as cargo vessel reportedly sinks off Kenya Two seafarers were killed when a Kenyan flagged cargo vessel laden with sacks full of khat reportedly capsized 400 km north east of Mombasa, IHS Maritime has learned. Lamu-based fisherman Athman Seif told IHS Maritime that MV Al-Shami sank on Sunday. Three other crew members were rescued and taken
Singapore invites proposals for LNG bunkering Singapore is inviting interested parties to apply for a licence to supply LNG fuel to ships in its waters. In their submissions to the Maritime and Port Authority of Singapore (MPA), applicants must propose an LNG bunkering supply solution. This should include how the applicant will procure and
Kenya leading the way on African maritime recruits Fifty students are expected to join the Technical University of Mombasa for diploma courses on marine engineering and nautical science later this year as African governments and maritime authorities step up efforts to work together to boost the maritime labour market. The university is one of two,
Egypt to dredge access for APM's Suez Canal terminal Egypt has finally agreed to widen and deepen a channel giving APMT's Suez Canal Container Terminal (SCCT) direct access to the shipping canal's northern end, after balking at the cost for a number of years. Last weekend, as the Suez Canal Authority (SCA) held a successful two-way traffic trial in
TS Lines confirms box ships deal with CSBC Taiwanese carrier TS Lines on 24 July confirmed its order for two 1,800 teu container ships with options for another two at China Ship Building Corporation (CSBC). TS Lines chairman TS Chen said although the decision to order the four box ships was made four years ago when newbuilding prices were
Korea's declining car exports hurts Pyeongtaek-Dangjin Pyeongtaek-Dangjin, South Korea's largest vehicle port, continues to feel the pain of the country's declining car exports. Pyeongtaek Regional Oceans & Fisheries Administration said that in the first half of 2015, the twin port handled 762,780 cars, down from 786,423 cars in the same period in
Changhang Group to sell stake in Changhang Phoenix to Shunhang Shipping China Changjiang National Shipping (Group) Corporation (Changhang Group) plans to sell all its stake in Shanghai-listed Changhang Phoenix to Tianjin Shunhang Shipping for CNY1.0 billion (USD160.9 million) to fund its debt restructuring. Changhang Group currently owns 17.89% of Changhang Phoenix,
Shipbroker: Don't rush to build oil tankers Despite the positive sentiment surrounding oil tanker freight rates, caution should be exercised before building new ships, Italian shipbroker Banchero Costa cautioned. The tanker market has continued its strong performance in the first half of 2015, riding on positive sentiment. Very large crude
SHI: No confirmation on Sungdong management South Korean shipbuilder Samsung Heavy Industries (SHI) told IHS Maritime that it has not made any decision as to whether it will take over the management of mid-tier shipbuilder Sungdong Shipbuilding & Marine Engineering. The South Korean media has reported that Sungdong's major shareholder and
Agility Fuel Systems announces CEO Transition SANTA ANA, Calif. -- Agility Fuel Systems, the leading developer and manufacturer of natural gas fuel systems for heavy duty vehicles in North America, today announced that Barry Engle has accepted an Executive Vice President position with General Motors and will depart from his post as Chief Executive Officer of Agility....
SpeedCast acquires SAIT Communications Sydney, Australia - SpeedCast International Limited (SpeedCast), a leading global satellite telecommunications service provider, today announced that it has signed a definitive agreement to acquire SAIT Communications, a fast-growing maritime communications service provider in southern Europe. SAIT Communications is one of the leading suppliers of L-band satellite services in the southern...
MIQ Logistics honored for supply chain performance OVERLAND PARK, Kan. - MIQ Logistics is very pleased to be recognized by SupplyChainBrain as one of the 100 Great Supply Chain Partners for 2015. "In an industry served by many hundred providers, it's the ability to form trustworthy business relationships that separate the wheat from the chaff," says John Carr, president...
Diana Containerships Inc. announces the sale of container ship Cap Domingo ATHENS, GREECE - Diana Containerships Inc. (NASDAQ: DCIX) (the "Company"), a global shipping company specializing in the ownership of containerships, today announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party the 2001-built vessel "Cap Domingo", with delivery due...
Khalifa Port achieved berth productivity of 206 moves per hour Abu Dhabi - Abu Dhabi Terminals (ADT), manager and operator of Khalifa Port Container Terminal (KPCT), set a new productivity record by handling 2615 moves in just under 13 hours on the 9,365 TEU CMA CGM Thames which called into Khalifa Port on Tuesday 21st July . An operational productivity metric...
Deferred air demand, intra-Europe trade fuel UPS earnings Strong cross-border business in Europe and the highest demand for deferred package service in the U.S. in a decade helped UPS increase second quarter profits, despite falling revenue. The increase in deferred air business comes as more consumers opt for two-day to three-day delivery times for packages ordered from online retailers,...
Roadrunner buys Stagecoach to get more US-Mexico cross-border capacity Roadrunner Transportation Systems has acquired Stagecoach Cartage and Distribution for $35 million, continuing the buying spree it embarked on in 2013 as merger and acquisition activity dominates the transportation and logistics industries. Roadrunner's purchase of the El Paso, Texas-based company will improve its ability to provider services in the U.S. Southwest...
Soft truckload demand cuts Universal profit Universal Truckload Services' second quarter profit and revenue slipped amid reduced truckload demand, but the company said volume and pricing strengthened for other businesses, notably intermodal drayage. The Monroe, Michigan-based carrier's net income slipped 2.3 percent to $13.3 million from a year earlier, as revenue declined 4.2 percent to $295 million...
Second inland port aims to boost Savannah's market share The Georgia Ports Authority said it will open the second of its six planned inland ports in an effort to expand the Port of Savannah's intermodal reach into the fast-growing U.S. Southeast. The Appalachian Regional Port scheduled to open in 2018 at Chatworth in Murray County in northwest Georgia will target...
New Asian services could spur turnaround at Halifax Port of HalifaxPort of Halifax's recent inclusion on G6 and CMA CGM services to Asia bode well for a container rebound at the Nova Scotia gateway. These new services, along with an expectation that Halifax will be included on another Asian service via the Suez Canal, suggest that the port is...
ODFL targets oil, agriculture with new Montana terminal Old Dominion Freight Line, the fifth-largest U.S. less-than-truckload carrier, has opened a 24-door terminal at Sidney, Montana, to handle growing traffic from the region's oil and agriculture businesses. The expansion is part of ODFL's plans this year to spend $463 million on capital improvements, including $165 million for real estate acquisition...
Paccar builds more trucks to meet growing North American freight demand Truck maker Paccar expects to sell more Class 8 tractors this year than last because motor carriers are enjoying higher rates and seeking more demand. Paccar, the company behind trucking brands Kenworth, Peterbilt, and DAF, said it expects Class 8 tractor sales in the U.S. and Canada to rise from 250,000...
BNSF tightens dwell times at intermodal terminals BNSF Railway is cracking down on dwell times in its intermodal terminals in an effort to improve circulation and prepare for recent and anticipated growth in intermodal traffic. Effective Aug. 17, BNSF will rearrange its dwell time groupings and increase charges for at least some of its terminals nationwide. Terminals in Los...
Deutsche Bahn weighs partial privatization of DB Schenker logistics unit LONDON - Deutsche Bahn, Germany's state-owned railway, today said it is weighing a partial privatization of its DB Schenker Logistics unit as part of an extensive restructuring program that will be launched in August. The Berlin-based company said the move was designed "to boost strategic development and finance further growth" but...
Watson, 72, maritime pilot leader, advocate, dies Captain Michael R. Watson, president of the American Pilots Association died July 23, 2015. He was 72. Captain Michael R. WatsonWatson was a member of the piloting profession for 45 years, getting his start in the Association of Maryland Pilots in 1970, serving as president from 1982-2000 and concurrently as vice...
US shippers, truck companies reap low fuel price benefits If U.S. shippers feel less pain when it comes time to pay freight bills this year, they can thank the worldwide oil glut. With the third quarter under way, the very significant impact of the collapse in oil and fuel prices over the past year on U.S. freight transportation is...
China-Europe rail has air cargo in the crosshairs HONG KONG - Airlines flying cargo between China and Europe will be hit hardest by Beijing's One Belt, One Road trade strategy as the land bridge rail route proves too attractively priced to ignore, believes Steve Flowers, head of global freight forwarding at UPS. "Transportation managers will likely have a hard...
DP World first-half volume up on strong Europe, UAE growth LONDON - DP World posted a 4.2 percent increase in container traffic in the first half of the year, driven largely by strong growth at its terminals in Europe and the United Arab Emirates. The Dubai-based group handled 30.6 million 20-foot-equivalent units across its global network of terminals, up from 29.4...
Still no word on shipping exemption from HK competition law HONG KONG - No decision yet has been made on whether Hong Kong's Competition Commission will grant the liner industry a block exemption from new rules to be enforced from December that will effectively render container shipping activity illegal.Guidelines on how the new competition law will be implemented when it...
Double-digit volume jump highlights Savannah's growing market share Port of SavannahContainer volume through the Port of Savannah in June jumped 39.6 percent year-over-year, the fastest rate of any U.S. port, as Savannah continued to gain market share even after West Coast congestion cleared. The Georgia Port Authority closed its July-June fiscal year with a record 3.7 million 20-foot-equivalents in...
DHT beats predictions DHT Holdings delivered second-quarter earnings that beat analyst expectations and reversed a loss unveiled this time last year.
Stifel cuts Scorpio forecast Stifel cut its earnings estimates for Scorpio Bulkers on predictions that the dry-bulk market will recover gradually thorough 2017.
VLCCs pull back further Spot charter rates slumped for another day in the VLCC market Tuesday amid continued slow fixture activity.
Singapore hunts LNG suppliers The Maritime and Port Authority of Singapore (MPA) has launched a tendering process for companies aiming to supply LNG bunkers in the world's largest fuelling port for ships.
Diana sells panamax boxship Diana Containerships has offloaded one of its panamaxes a few months after it snapped up a pair of vessels of similar size.
Scorpio Bulkers into clearer air Scorpio Bulkers was said to be nearing the end of its dark restructuring tunnel today despite reported a second quarter loss.
Carnival books Turku twins Carnival Corp has booked two LNG-fuelled newbuildings at Meyer Werft for its Costa Cruises brand.
NAP up in second quarter Angeliki Frangou noted rising appetite for long-term VLCC charters as Navios Maritime Midstream Partners logged an improved profit for the second quarter.
Cruiseship hits coastguard boat Heavy fog in the Aegean has caused two accidents in Greek waters over the last few days.
DFDS back to business DFDS is set to continue its normal schedule between Dover and Calais this afternoon.
G6 boosts Asia-Europe The G6 Alliance has strengthened its Asia-Europe service by adding additional ports.
Older VLCCs to lead price drive DNB Markets expects second-hand VLCC prices to shot up further with older tankers continuing to lead the charge.
Dry buyers back in play A rising charter market and a calmer geopolitical stage is drawing dry cargo owners out of the woodwork and into the sale and purchase market, a leading Greek broker says.
MOL in new Thai venture Mitsui OSK Lines (MOL) is setting up a new joint barge terminal operation in Thailand.
Cochin win for RKEC Indian state-owned port hands $40m VLGC jetty project to local contractor.
Precious readies notes issue Khalid Hashim's Precious Shipping is lining up a potential SGD 500m ($365.67m) notes issue.
SBM closes on $1.55bn SBM Offshore has completed the largest financing project in the company's history.
Ban a rate boost? JP Morgan believes Nigeria's decision to ban over 100 tankers from its shores could be positive for the market.
Senat wants Singapore talks Blacklisted Senat Shipping has been seeking to meet with Singapore's Ministry of Foreign Affairs (MFA) to clarify its position on an alleged relationship with sanctioned Ocean Maritime Management (OMM).
DP World volumes rise DP World has recorded a steady rise in volumes during the first half of 2015.
Scorpio strikes again Scorpio Tankers has continued a buying spree with the purchase of a newbuilding on order South Korea's SPP Shipbuilding.
Vessel collision on Yangtze River results in minor oil spill Amount yet to be determined.
US firms partner to develop hydrogen fuel cell-powered ferry Companies to conduct feasibility study for refuelling station and hydrogen vessel design.
India to lower customs duty on bunker fuels In a move to help support economic growth.
Carnival orders two LNG-powered ships for Costa Cruises Ships scheduled for delivery in 2019 and 2020.
Shanghai to incentivise use of shore-power Will subsidise installations and provide discounts to users in bid to cut pollution.
Bunker surcharge on Australia-Asian routes to fall In line with weaker oil prices.
LNG bunkering at Singapore moves closer to reality With call for potential suppliers asked to apply for MPA licence.
Three vessels fined as Norway doubles ECA inspections Fines decided 'case by case' and will reflect severity of violation, official says.
Titan Petrochemicals: Open offer plan delayed Conditions for underwriting agreement not satisfied, says company.
Upgrades make ship commercially attractive Enhanced fuel efficiency and capacity adds to selling power.
Chinese player offloads bunker trading venture Citing 'sub-par' performance.
Player drops out of MPA-approved bunker craft operator list BHL Tankers 'surrendered' its licence earlier this year, authority says.
NewLead: Upgrades enable 'commercial competency' of vessel Increase in fuel efficiency and capacity results in 'enhanced attraction' of ship, says NewLead.
Malta: Vessel avoids arrest for unpaid bunker bill By leaving port area undercover of darkness.
Chinese player dumps bunker trading venture Company falls into H1 losses.
Malta: Turkey-flagged vessel 'escapes' arrest Vessel left bunkering area at night, says report.
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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