|MARCH 16, 2016|
- CKYHE Alliance to reorganise Europe service network to rationalise capacity
- Moody's degrades HK to 'negative' as fears of Beijing meddling grow
- IRISL's ranking jumps to 22nd place as sanctions lose their teeth
- Hutchison's Oman port lifts million tons a in 2015, 4 ZPMC cranes arrive
- Panalpina profit slips 0.3pc to US$88.6 million as revenue falls 16pc
- Cambodia to speed up Phnom Penh port expansion with infrastructure
- Virginia Ports February volume 23.9pc to 220,726 TEU after 3 month lull
- XPO implicated in French criminal case for hiring affordable foreign drivers
- Demand for lay-ups, warm stacking prompted by low oil prices met by GAC
- DOJ fines 2 Maersk units US$3.6 million for defrauding Pentagon
- Trump concedes 45pc China tariff a threat, a negotiating position
- US regulators seek sleep apnoea tests for truckers, train drivers
- Mega ships' economies of scale 'tell a tale of diminishing returns'
- New Dutch-French rail shuttle marked by royal visit to France
- Hong Kong airport reports 14.9pc drop in February cargo volumes
- Cathay-Dragonair cargo slips 10.1pc, Chinese New Year shutdown blamed
- Gatwick's cargo volume plunges 12pc in February to 5,628 tonnes
- Dhaka chamber calls for quick end to air cargo ban on UK, Oz exports
- Lufthansa Cargo summer season boasts more flights on bigger planes
- Pilots applaud ICAO battery ban, but want it extended to frieghters
|MARCH 15, 2016|
- Allcargo Logistics hosts 'Acing Africa with Allcargo'
- Govt lists significant tax incentives for maritime sector proposed in Budget 2016-17
- NYK Group, Weathernews & Kozo Keikaku to establish new company for joint development of next-generation shipping & logistics solutions
- Women Custom Brokers & Freight Forwarders celebrate Women's Day by introducing themselves to Principal Chief Commissioner of Customs Sanjeev Behari
- Maharashtra to prevent hurdles in mango exports
- Oilmeals exports down this fiscal
- ...recognised as 'Best Tourist Friendly Harbour'
- Chennai Port slashes THC & haulage charges for 3 months to increase rail share between Chennai & Bangalore
- Allcargo to set up Logistics Park in Jhajjar, Haryana
- JICA inks pact with Centre to provide INR 4,870 cr. for Ahmedabad Metro Rail project
- Govt likely to re-impose anti-dumping duty on import of Barium Carbonate from China
- Legal systems as applied in India & the world (Civil & Common)
|MARCH 16, 2016|
- How stable are logistics?
- Railroad registers decreasing personal injury rate
- Time out to emphasise business in Russia
- 42 million t moving by blocktrain
- RCA puts "cool express" on rails
- Cargo handling - increasingly digital in Frankfurt
- MOL preparing marine academy in Philippines
- Strong shoulders for plethora of extra tasks
- 500 new HGVs for Austrian logistics company
- Impairments versus positive trends
- More durable and fire-resistant airfreight containers
- XPO supporting UK food retailer
- Kitschler takes on leadership role in Dortmund
- Camion Transport expanding in Schaffhausen
|MARCH 15, 2016|
- Liquidation looms if Paragon bond exchange fails
Paragon Shipping CEO Michael Bodouroglou has explicitly warned that if bondholders do not accept an offer to exchange notes for equity by the 18 March deadline, the next step may be liquidation and "zero recovery" for investors. The interest payment grace period on...
- VLCC rates remain firm and outlook encourages, but shares languish
Spot freight rates for VLCC tankers have remained firm after ending last week in the region of USD90,000 per day or double the level of the week before. However, share prices of many listed tanker...
- Songa Offshore plans to restructure its finances
Cyprus-based rig owner Songa Offshore plans to restructure its finances by offering a convertible bond, raising fresh equity and by changing the terms and conditions of existing bonds and loans, the company said in a statement. The plans call for the issue of a subordinated convertible bond of...
- DNV GL plans a "tight ship" for a slow year
DNV GL has warned that it must now "run a tight ship" to survive the multiple challenges facing the oil and gas and shipping industries. Speaking to the press in London recently, CEO Knut Ørbeck-Nilssen said that...
- Containers - the wait is over
Following the beaching of MSC Napoli in 2007 all the containers removed from the ship were weighed. About 660 containers had remained dry and, of these, 137 were found to be more than 3 tonnes different from the declared weight. The largest single difference was 20 tonnes, and the total weight...
- Low bunkers, strong intra-Asia trade drive SITC profit up 19%
Solid trade growth between China and Southeast Asia and low bunker fuel prices offset falling freight rates and revenue at Hong Kong-listed container line SITC, lifting the regional container line to a 19% net profit in 2015 compared to the...
- Golar LNG delays FLNG work at Keppel
Golar LNG, the LNG shipping entity in John Fredriksen's empire, is pushing back work to convert two of three LNG vessels into floating LNG vessels. In July 2014, December 2014 and July 2015, Golar LNG contracted with Singapore's Keppel Corporation to convert its existing...
- Hanjin Shipping aims for USD420.7 million in savings to tap government fund
Eyeing assistance from the South Korean government's shipping fund, Hanjin Shipping is planning more extensive debt restructuring to create KRW500 billion (USD420.7 million) in aggregate savings by 2021. This would be done through lay-offs and reducing other operating expenses. The company is also hoping...
- 'K' Line decides against early charterhire cancellations
Japanese carrier 'K' Line has told IHS Fairplay that it has eschewed early cancellations of bulk carriers on long-term charters, opting to take a slightly different route from its compatriot peers Mitsui OSK Lines and NYK Line. 'K' Line, which...
- China reports notice to restart USD1.4 billion Colombo port city
China said the investors involved in the controversial USD1.4 billion port city project in Sri Lanka were informed in a letter by the Sri Lankan government that construction on the project could recommence immediately following its suspension in March of 2015 and again in February of this year. Chinese state-media said...
- Qube-Brookfield bid for Australia's biggest container terminal gets the nod
Qube Holdings and Brookfield Infrastructure won the approval of Asciano to jointly acquire Australia's largest container terminal business, Patrick, for AUD2.915 billion (USD2.17 billion) on 15 March 2016. Asciano announced the new deal to the Australian stock exchange as part of an AUD12 billion takeover and carve up of its port...
- Singapore bunker sales down in February
Singapore's bunker sales for February 2016 has fallen to 3.5 million tonnes, down 16% from January's sales volume of 4.2 million tonnes, based on the preliminary estimates from the Maritime and Port Authority of Singapore (MPA). However, the sales volume in February 2016 was a 3% year-on-year (y/y) increase from 3.4...
- More shipping companies seek to drop public listings
Greece's Dragnis family is seeking to buy the remaining ships of Goldenport Holdings, a company the family took public on the London Stock Exchange a decade ago. It is the third public shipping company to opt for privatisation in the past three months. In...
|MARCH 15, 2016|
- Scottish whisky shippers on the rocks as dock workers at Grangemouth launch strike
- Disaster predicted at Rotterdam from new container weight verification regime
- Analysis - how long before CMA CGM heads to the stock market?
- Australian logistics giant Asciano to be broken up in $6.8bn takeover
- Lufthansa eyes Iranian market
- US Army truck test could accelerate autonomous driving
- XPO Logistics UK plans to offer 120 apprenticeships
- CARU Containers acquires Fine Link in Shanghai and Hong Kong
|MARCH 15, 2016|
- Vard gets LOI for four expedition cruise ships
- GulfMark settles dispute over newbuild Jones Act PSVs
- Maersk units to pay $3.6 million civil penalty
- IHI sheds stake in Brazilian shipyard EAS
- Optimarin wins "potentially huge" BWTS agreement
- Celebrity Cruises to acquire Galapagos operator
- Kawasaki and Shell team on liquefied hydrogen ships
- Fatigue blamed in tanker grounding
|MARCH 15, 2016|
- Icelandair boosting service to Portland International Airport
- Mitsui celebrates groundbreaking of Philippine merchant marine academy
- Coast Guard honors man for saving drowning teen
- Department of Transportation announces infrastructure project financing program
- General Dynamics NASSCO nets vessel maintenance contract
|MARCH 15, 2016|
- Maersk takes over Danish broker Lanic
The pair will focus on synergies in dry bulk amid dire market
- VLCC spot rates surge on discharge delays in Asia
Delays in Asia tighten up the spot market for the big 2m barrel crude tankers, although charterers managed to shave a few dollars off vessel earning power on Tuesday
- Charterers and owners must work together to resolve chemtanker age impasse
Charterers demand young ships, but owners are not paid enough by charterers to invest significantly in modern chemical tankers
- TEN posts sharp increase in profits
Tanker market to stay 'in healthy territory' says Tsakos
- Maritime industry joins push to curb illegal wildlife trade
Buckingham Palace Declaration targets hotspot routes and ports used by traffickers
- Little joy for owners in charter market
Feeder sector the only bright spark in an otherwise gloomy affair
- Liberia calls for ballast water treatment systems extension
Proposal to change recently agreed IMO Assembly resolution amending compliance dates opposed by Japan
- Supramax rates near two-month highs on rising cargo demand
Market gains optimism on the back of increased steel and cement shipments
- Bumi Armada takes legal action against Woodside for contract termination
Malaysian company looking to claim damages from Woodside in Australian court
- INTTRA calls for more preparedness ahead of box weighing rule
Shippers seek clarity on cut-off dates for VGM submission, INTTRA says
- IBIA joins Trident Alliance in raising concerns over global sulphur cap
Both organisations to push jointly for full compliance with sulphur limits across industry
- HMM swings to loss
Carrier debt ratio hits 2,007%
- MOL appoints chief country representatives for Asia and Oceania
New positions allow MOL to tailor transportation services to meet respective countries' needs
- Sinotrans Shipping losses widen to $81.5m
Group to enter liquefied natural gas Arctic shipping business in order to diversify risk
- China Cosco appoints Deng Huangjun as new chief financial officer
Mr Deng is also deputy managing director at Cosco Pacific
- Moody's downgrades Adani Abbot Point Terminal
Pressure in coal sector could see more counterparty contracts not renewed or subject to early termination
|MARCH 15, 2016|
- XPO strengthens position in UK retail sector
- Despite low diesel prices, UPS invests in natural gas stations, tractors
- Shipper coalition urges PMA, ILWU to begin contract extension talks
- Flooding in Louisiana, Mississippi suspends KCS intermodal service
- US Coast Guard downplays SOLAS confusion to Congress
- Japan sets SOLAS container weight error margin
- Cochin harbor trucker strike ends
- Rickmers posts higher revenue, earnings - and bottom line loss
- Russia preps containerized rail corridors from Far East to China
- Newark mayor seeks federal investigation of ILA hiring
- Allcargo Logistics plans new inland hub in India
- Alibaba logistics unit lands $1.5 billion in fundraising drive
- Automated freight rate platforms reel in big names
|MARCH 15, 2016|
- Gener8 Maritime delivers in-line result
New York-listed tanker owner reports $45.5m in net income, just as analysts predicted.
- CLdN inks order for up to six ro-ros in Croatia
European shortsea specialist books two firm ships at Uljanik and four options.
- GulfMark settles PSV spat with BAE Systems
Agreement ends arbitration over delayed vessels and frees offshore vessel owner from capital commitments.
- Leadership change at Odfjell Terminals
Tank storage arm of Norwegian chemical tanker owner appoints Vopak's Erkelens as CEO.
- Anchor-handler scrapping fell in 2015
Figures from Banchero Costa reveal the need for more vessels to be sent to breakers to balance weak market.
- Golar LNG Partners downgraded by DNB
MLP sees rating cut after spike in market value since late January.
- Detained boxship to be scrapped
Veteran Greek vessel that lost power off France has reached the end of the road.
- Seanergy eyes acquisition opportunities
Bulker owner says quality tonnage is available at historically low prices as it swings to 2015 loss.
- Lindblad adds $45m to Credit Suisse loan
Nasdaq-listed cruiseship group extends credit facility as it falls to loss in fourth quarter.
- GasLog adds an extra $100m to shelf
New York-listed LNG owner takes shelf filing in line with MLP.
- Tsakos Energy: best result this decade
New York-listed tanker owner rides strong market to a fivefold increase in annual net income.
- VLCC rates race to 'pretty exciting' levels
No reason for this market not to remain tight, Paddy Rodgers says.
- Global Ship Lease buys bonds worth $28.4m
New York-listed boxship owners completes offer to repurchase notes in order to cut its debt.
- Fatigue blamed for Canadian tanker grounding
Master ordered port turn but helmsman continued to apply starboard rudder, accident report finds.
- Celebrity snaps up Galapagos cruise duo
Royal Caribbean brand buys vessels to expand operations to the famous islands.
- HMM's 2015 loss hits $525m
Restructuring Korean shipowner racked up large part of annual deficit in final quarter.
- Post 2000 built boxship brace heading for scrap
Containership pair sold for demolition in Bangladesh, sources say.
- Uni-Tankers looks to grow after refinancing
Chemical tanker owner strikes debt reduction deal with Danske Bank and gets $30m cash injection.
- IHI pulls out of Brazilian yard
Japanese group transfers all of its equity in shipbuilder to domestic shareholders.
- Greek fleet growth continues at troubled time
New high of of 4,092 vessels seen in 2015, Greek Shipping Co-operation Committee figures show.
- Pacific Basin keeps eye on distressed deals
Bulker owner says inflection point will come from unexpected factors as latest downturn drags beyond 1970s and 1980s depression.
- Faulty piping caused Istra Ace spill
US Coast Guard's investigation reveals reason behind leak of heavy fuel in Los Angeles.
- Seaspan yard wins $49m newbuild finance
Canadian shipbuilder receives state cash to construct research and supply ships.
- Shetland Line loses $18m ferry case
Scottish owner had sued government over award of £243m contract to Serco in 2012.
- Marathon drops down inland marine business to MLP
The fourth largest refiner in the US to receive $600m worth of stock for tug and barge fleet.
- Singapore container volumes continue to slide
Weak Asia-Europe trade and liner alliances shake-up take their toll on box throughput.
- China seeks more crude oil imports from Nigeria
Potential boost for suezmax tankers as China looks to increase imports from West Africa.
- YZJ passed on 40% of orders over payment terms
Chinese shipbuilder said to have adopted "unwavering stance" in face of weak shipping markets.
|MARCH 15, 2016|
- Teijin Aramid partners with MACRO Industries
- UPS invests in compressed natural gas tractors, fueling stations
- IBIA joins forces with Trident Alliance
- FMC reviews 22 OTI license applications
- Peru to fully open market to U.S. beef exports
- CARU Containers acquires Chinese container trader
- Newark, N.J. mayor asks for federal investigation into longshore hiring
- Trade protectionism becomes a dominant theme in presidential campaign
- Transportation stocks rebound after rocky start to 2016
- MOL car carrier suspected of leaking fuel in LA harbor
- Maersk experiments with drones for deliveries, inspections
- HMM commences China Thailand Express
- Florida increases funding for port projects
- Port of Virginia box volume soars 24% in February
- U.S. import, export prices decline in February
- VersaCold to acquire refrigerated road transport company
- BNSF aims to help shippers find shovel-ready industrial properties
- Troy Container Line launches new services
- GRI Roundup: Maersk Line, MSC, CMA CGM, Hapag-Lloyd and OOCL
- Executive Moves: ILWU, Port of Seattle and Americold
- Ag shipper associations support USCG's stance on container weight regulations
|MARCH 15, 2016|
- Ireland: Suppliers, ships liable to fines up to Eur12.7 million for breach of MARPOL Annex VI
Offenses under EU sulfur regulations liable to fines up to Eur300,000.
- Platts acquires Commodity Flow
The purchase helps extend Platts trade flow analytical capabilities.
- TRADER NOTE: London-based KPI Bridge Oil bunker trader relocates to Denmark
The Dane says returning will help him be closer to clients.
- TENDER DATA: Taiwan's Formosa offers 15,000 mt fuel oil for Mar 29-31
Tender closes March 15.