|MARCH 18, 2016|
- COSCOCS starts to merge Cosco and CSCL's domestic box businesses
- Cosco Pacific February volumes fall 3.5pc overall to 4.9 million TEU
- NileDutch expands services with buyout of combi player Safmarine MPV
- HMM, Hanjin deny rumours of merger, but Drewry is not ruling it out
- Drewry: Cascading mega ships on transpac ruinous for rates, congestion
- Transportation, logistics sector are 'ripe for disruption'- PwC report
- Deutsche Bahn 2015 profit falls 16.6pc to US$392.7 million, sales rise 1.9pc
- IATA seeks 'transformation' of air cargo, to keep up with passenger side
- Dhaka upgrades airport security to lift Australia, UK air cargo ban
- Air Niugini orders four 737 MAX 8s to fly from its Port Moresby hub
- Silk Way smoothes cargo operations with Descartes cloud-based system
|MARCH 17, 2016|
- 'MOL Safety Conference 2016' held in Mumbai & other global locations
- Cabotage & FOC
- Kalmar hybrid shuttle carriers set new industry benchmark in fuel consumption & emissions at Port of Virginia
- Maersk Line adds Kakinada to Mesawa service
- Maersk Line India bags two prestigious awards at Northern India Multimodal Logistics Awards 2016
- MoS outlines steps taken to boost freight activities in domestic shipping
- Cabotage restrictions relaxed for container transhipment ports
- DP World announces strong financial results
- Kollam Port Users Association welcomes state govt's move to reduce container handling charges at non-major ports
- Sudhir Mehta elected Chairman of CII Western Region for 2016-17
|MARCH 18, 2016|
- A healthy project
- More trains heading east from Belgium
- Brain drain on in Switzerland
- Reinforcing automotive logistics
- Car shipper visits BLG Bremerhaven
- General Motors names suppliers of the year 2015
- Knorr-Bremse nets major order in Brazil
- Arkas enhancing NAS loop with Bizerte call
- Tame Ecuador from Quito to Guayaquil...
- Cool logistics conference back in Bremen
- African states to introduce transit cargo monitoring
- Four new cranes for Sohar Port
- Alpha Trans beefing up the management
- Air Arabia to Sarajevo
- Transnatur finds ally in Italy
- Big day for Pegasus
|MARCH 17, 2016|
- US takes Cuban ports off terrorism watch list
An eight-year restriction on vessels entering US ports recently calling on Cuba has been lifted by the US Coast Guard. The 2002 Maritime Transportation Security Act (MTSA) allows the Coast Guard to place conditions on US-destined vessels whose last five port...
- Middle East driving breakbulk opportunity
The Middle East is strong driving force in breakbulk shipping, David Piel, a Hapag-Lloyd Special Cargo expert told IHS Maritime at Breakbulk China 2016. Significant investment in the Middle East means a large amount to machinery and equipment is...
- CLdN Ro-Ro orders two vessels with options for four more
Cobelfret group ro-ro operator CLdN Ro-Ro has begun a new phase in its fleet expansion programme with an order for two vessels plus four options from Croatian shipbuilder Uljanik. The new orders have been placed as part of a 12-vessel expansion announced by the company last...
- Hoegh Osaka grounding due to 'catalogue of errors'
An accident report by the UK's Maritime Accident and Investigation Bureau (MAIB) into the grounding of pure car and truck carrier (PCTC) Hoegh Osaka in UK waters last January blames cargo weight and loading issues plus operational oversights...
- Scorpio Bulkers prices heavily discounted offering
NYSE-listed Scorpio Bulkers has raised more cash to weather the downturn and insiders have increased their stakes via a follow-on stock offering priced on 17 March. The dry bulk company will obtain gross proceeds of USD63 million from the sale of 21 million shares...
- Canadian shipowners gain reprieve on Great Lakes ballast rules
The US has agreed to push back until the end of 2018 the introduction of ship ballast water treatment rules that could have barred much of the Canadian Great Lakes fleet. A coalition of American and Canadian shipping interests took the US Environmental Protection Agency (EPA) to...
- IR Class targets floating gasification units and cruise ships
Indian Register of Shipping (IR Class) is looking to classify floating gas units and cruise ships, according to chief operating officer C Sriramamurthy. He told IHS Fairplay that the classification society has engaged industry experts to train its surveyors in...
- APM Terminals weighs options for SOLAS container services
One of the world's largest container terminal operators is working overtime to figure out where among its 72 locations it makes sense to offer container weighing services for shippers and carriers before verified weights soon become mandatory. APM Terminals, which handled roughly 36 million teu...
- Euronav sees VLCC and Suezmax markets strengthening further
First-quarter conditions in the VLCC and Suezmax markets will improve on last year, according to listed tanker operator Euronav. The Antwerp-based company is continuing to experience "robust and fundamental strength" in the two markets, it said today (17 March), while again complaining its share price fails to...
- Falling prices and slow sales drag Singamas to 2015 loss
The world's second-largest container manufacturer, Singamas Container Holdings, collapsed to a 2015 net loss of USD2.7 million as the prices of its boxes plunged amid falling demand for new containers.Falling world trade and slowing China exports hurt Singamas's performance, especially in the second half, dragging its net earnings into the...
- Slideshow: Cargo misdeclaration and operational inadequacies grounded Hoegh Osaka
Pure car and truck carrier Hoegh Osaka developed a 40 degree starboard list as she rounded the West Bramble buoy in the Solent, UK, at 12 kt. This caused cargo shift, flooding, and serious injury to an off-duty crew member. The MAIB incident report says...
- Long road to LNG bunkers and clean fuel in Asia
Singapore may have awarded an LNG bunkering licence but the sector remains unsure shipowners in Asia will switch to LNG bunkering or even distillate fuel, the International Bunker Industry Association (IBIA) forum in Singapore heard today (17...
- Korea Shipowners Association appeals to KDB to relax LTV breaches for bulkers
Korea Development Bank, South Korea's largest provider of ship financing, has received requests from the Korea Shipowners Association to go easy on loan-to-value breaches as bulker values fall rapidly amid the depressed Baltic...
- DP World profit jumps 30.7%
Dubai-based global terminal operator DP World announced a strong financial performance in 2015 with revenues up 16.3% to USD3.97 billion and net profit up 30.7% to USD 883 million, driven primarily by the acquisition of Economic Zones World (EZW). Excluding the acquisition, revenue was up 5.6% with container revenue up 4.9%...
- SPP Shipbuilding to be renamed SM Shipbuilding
Mid-tier South Korean shipbuilder SPP Shipbuilding will be renamed SM Shipbuilding on the completion of its acquisition by SM Group, a major shareholder of Korea Line Corporation. SM Group is negotiating with SPP's creditors to acquire the shipbuilder, for which it was the sole bidder. SM Group plans to raise...
- Cargo errors spur rise in insurance claims
Research by the Swedish Protection & Indemnity (P&I) Club has found that the costs and frequency of marine claims have continued to rise over the past decade. The club's P&I Claims Analysis reported cargo claims at a 10-year peak in...
- Ticking the maritime safety box
There are a handful of world-class marine accident investigation bureaux. They play a bit of an undercover role in holding the shipping industry's feet to the fire, and have consequently saved lives. Hundreds, possibly thousands of lives. The UK's Marine Accident Investigation Branch is one such, but it has a...
- Yang Ming partners with Regional Container Lines
Taiwanese carrier, Yang Ming Marine, inked a partnership agreement with Thailand's Regional Container Lines (RCL) to expand co-operation on terminal operations in Taiwan and Thailand, slot exchange and vessel chartering services, and laden trucking and equipment interchange contracts. The deal will improve vessel utilisation, reduce leasing and other operational costs, and...
- Hanjin Shipping to restructure east-west services
Hanjin Shipping will replace its joint pendulum service connecting the US West Coast to Asia and the Mediterranean with an exclusive Hanjin-supplied service as the carrier restructures its network in the face of excess capacity and weak demand.The existing PM 1 (Pacific-Med Pendulum 1)...
- Singapore reaffirms its regional anti-piracy role
The Maritime and Port Authority of Singapore (MPA) has pledged to continue to enhance safety and security of the region's waterways and has reaffirmed its role in counter-piracy efforts.Andrew Tan, MPA chief executive and Singapore's governor to the Regional Cooperation Agreement on Combating Piracy and Armed Robbery (ReCAAP) governing council,...
|MARCH 17, 2016|
- Hyundai Merchant Marine on the verge of bankruptcy as creditors reject debt rescheduling
- A plan to revolutionise air freight as 'visibly better' Cargo iQ succeeds Cargo2000
- Iran-Europe trade blooms as IRISL relaunches container and breakbulk services
- The challenge of transformation
- Strong financial results for DP World
- FedEx CEO Smith calls Amazon challenge reports 'fantastical'
|MARCH 17, 2016|
- Burger starts construction of explorer yacht
- Crowley loses bid to renew Alyeska contract
- U.S. eases security for ships arriving from Cuba
- PGS names third Ramform Titan seismic ship
- Hornblower to operate NYC's new Citywide Ferry Service
- Rolls-Royce MT30 to power Italy's new LHD
- USCG-approved tests of Alfa Laval BWTS set for Q2 completion
|MARCH 17, 2016|
- Drewry performance report sees drop in schedule reliability
- Maersk Line expanding Egyptian port coverage
- Panama Canal workers training to operate new locks
- US rail freight traffic heads lower during week
- Diana Shipping sets charter for dry bulk vessel CORONIS
|MARCH 17, 2016|
- US boosts product tanker demand by 1.5 ships a day
Central and South America are major importers, but demand from there could slow
- Euronav profit soars but gripe over company valuation remains
Strong market fundamentals are not reflected in share price, complains Euronav boss Rodgers
- Rio Tinto appoints new chief executive
Miner's new chief was head of copper and coal division
- Box carrier schedule reliability falls to 12-month low
Lunar New Year hits performance, but no big improvements expected in the short term
- Singamas signs off 2015 in red ink
Results knocked by weaker demand and lower prices for new boxes
- Höegh Osaka sailed before stability calculations had been performed
MAIB report found crew assumed a ballast condition for Höegh Osaka 's departure that bore no resemblance to reality
- Complacency and poor communication contributed to Höegh Osaka grounding
Chief officer sailed before accurate stability calculations had been made, MAIB report finds
- DP World profit rises 31% to $883m
Update: Chairman expects volume growth to outperform the market once more in 2016, while ruling out Indian IPO
- Qingdao port operator to sell six tugs to Svitzer for $32m
Svitzer Tug will pay for acquisition through internal cash resources
- Eagle Bulk warns of wider operating loss for 2015
Company currently evaluating possible impairment losses incurred on its vessels
- Nordic Shipholding 2015 profit jumps on one-off gain
Improvement in tanker market brings $5.8m reversal of impairment losses
- New regional alliance launched to develop cruise tourism in Asia
Alliance to help cruise operators develop itineraries, share industry and market insights and boost marketing efforts
- Scorpio Bulkers taps capital markets for $63m
Update: Offering is the first successful US shipping fundraiser in 2016
- Silver lining in low commodity prices, argues Nigeria LNG chief
Cyclical movement of oil prices means now is the time to invest in oil and gas projects
- Robert Yildirim backs NOL deal as CMA CGM interest extended to 2017
Turkish entrepreneur agrees to convert bonds to preferred shares after French line was unable to repay $600m in full at end-2015
|MARCH 17, 2016|
- TTSI bankruptcy is another hit to owner-operator drayage model
- CMA CGM revs up West African expansion
- Regardless of SOLAS enforcement, no VGM, no container shipping
- APMT plans SOLAS container weight strategy
- Charleston imports jump by double-digits
- FedEx: Amazon isn't a disruptive threat to us
- Hyundai Merchant Marine gets breathing room from major creditor
- Lufthansa Cargo still in the black - with reduced 2015 profit
- KCS resumes Louisiana intermodal services after flooding
- JNPT preps for expanded direct delivery scheme for import cargo
- Russia, China agree to cross-border rail and road bridge
- DP World profit rockets nearly a third
- Singamas slides to 2015 loss as sales and prices tumble
- Hanjin replaces joint service with own ships in east-west service shake-up
|MARCH 17, 2016|
- Moody's outlook on shipping turns negative
Credit ratings agency keeps stable outlook for tanker sector but gets gloomy about future for containerships and bulkers.
- Navig8: probe ongoing into tanker damage
Operator tells pool partners that it is too early to say what caused cargo tank damage that sparked legal dispute with Interunity.
- BW joins $1bn bet on bulker price trough
Respected names have joined a $1bn dry buying blitz in 2016 with some suggesting prices have finally hit the floor.
- Failure hobbles new MC-Seamax boxship
Hapag-Lloyd tranships sensitive cargo to from Andronikos after mechanical problem off Mexico.
- Altor fund buys Jeppesen marine arm
Subsidiary of Boeing Commercial Aviation Services sells its cartography business to private equity firm.
- Li Ka-shing wades into Brexit debate
Billionaire says his UK investments would be scaled back if it exits the EU.
- Private equity buys Jeppesen marine arm
Subsidiary of Boeing Commercial Aviation Services sells its cartography business to Altor fund.
- World Bank bars Damen yard from tenders
Dutch shipbuilder found to have engaged in 'fraudulent practice' over West African contract.
- ESC: abolish carrier price sharing
Shippers' council writes to EC commissioner Vestager in bid to scrap public communication of rates.
- BSM moves into cruise management
Schulte management arm forms new joint venture in Singapore to diversify into passenger sector.
- Diana Shipping takes panamax pay cut
Greek owner to bank $1,750 less per day as it fixes out Coronis for up to 14 months.
- Banks battle for Mercator bulker sale
Lenders want court auction of ship that owner's administrator had already agreed to sell to them.
- d'Amico considers launching new dry pool
Italian shipowner set to complement its 2015 supramax pool with scheme for panamaxes and kamsarmaxes.
- Carnival starts taking Cuba bookings
US giant still hopeful it will win approval for historic cruise to Caribbean island in May.
- Scorpio Bulkers shoots for $63m from issue
Lolli-Ghetti family to contribute $15m as stock sale prices at $3 per share.
- Scandlines offloads oldie to Greek owner
Danish company sells 1980-built ferry to European Seaways as it awaits newbuilding deliveries.
- DP World profit approaches $1bn
Middle East ports giant posts big earnings jump as throughput rises in 2015.
- Osborne tries to boost UK offshore sector
UK chancellor scraps petrol revenue tax in bid to bolster struggling North Sea oil and gas market.
- US introduces more North Korea sanctions
President Obama issues further measures which include bans on 20 vessels, following nuclear tests.
- Scorpio Bulkers set to upsize offering?
Financial sources suggest first major US shipping fundraiser of 2016 will price between $3 and $3.25 per share.
- Eurotankers confirms swoop for Chambal aframax
Greek owner adds Indian tanker to fleet two weeks after calling off Varun deal.
- Prosafe loses contract in Mexico
Accommodation vessel owner takes a hit from low oil prices as Pemex cuts costs.
- 'Substantial deficiencies' on Condor ferry
Company blames planned maintenance for detention after UK port state control check.
- Wagenborg sued over mooring injury
Texan worker hit by line that snapped during securing of Dutch ship.
- Euronav dividend slightly short; VLCCs going strong
Final payout two cents below consensus but spot tankers enjoying early 2016.
- HMM set for three-month debt freeze
Creditors could approve grace period for loss-making South Korean owner as it seeks charter cuts.
- Anker sells Clarksons shares worth $4.43m
Former RS Platou chief executive reduces holding as part of wider $53m offering.
- Glencore takes ex-Euronav VLCC for storage
Hong Kong-listed Agritrade charters out latest tanker acquisition for $40,000 per day.
- Hanjin cutting capacity to Europe
Korean owns aims for greater efficiency by dropping two 13,000-teu ships from Asia.
- Wartsila forms fourth venture with CSSC
Finnish ship systems group teaming up with Chinese yard group on automation solutions.
- Istra Ace pollution safety zone scaled back
US Coast Guard says clean-up efforts of oil spill from car carrier continue to show progress.
- Inadequate stability led to Hoegh Osaka grounding
MAIB accident report says "unsafe practices had become the norm" aboard car carrier.
- Aegean Marine sees 30% jump in Q4 net profit
US-listed Greek bunker company's results come in ahead of analysts estimates.
- GasLog opts for veteran for FSRU head
Owner evaluating FSRU opportunities as well as undertaking FEED study at Keppel in Singapore.
- Eagle Bulk expects to report deeper loss
New York bulker owner says auditors could issue 'going concern' statement if bank talks fail, though deal expected soon.
|MARCH 17, 2016|
- FedEx delivers 'strong' Q3 results, not fazed by Amazon plans
- CBP seizes 347 pounds of cocaine at Port of Savannah
- Tulsa Port of Catoosa sees volumes surge in February
- IUMI warns shipowners about damage caused by fuel impurities
- PortMiami box volumes jump 20% in January
- Competing bidders join forces to acquire Asciano
- CSX cuts another 101 jobs in Kentucky
- Senator seeks to remove cargo exclusion from FAA rest rule
- Yusen constructs logistics center in Mexico
- NileDutch acquires Safmarine MPV
- Port of Vancouver, Wash. reports record revenues, tonnage in 2015
|MARCH 17, 2016|
- Skangas to acquire Norwegian LNG production plant with bunkering facility
Subject to approval by competition authorities in Sweden and Norway.
- GLOBAL VLCC TRACKER: Rates surge on robust demand
Nigeria sailings hit six-week high.
- Bad weather stops bunkering at Novorossiisk
Sea swell expected to last until weekend.
- US District Court denies supplier's maritime lien claim in OW-related case
Significance for multiple cases where suppliers have delivered fuel to a ship on behalf of a trader.
- Australian maritime union reacts angrily to BP letting go of products tanker
MUA National Secretary Paddy Crumlin said Australia's fuel security was under threat.
- Fuel oil hi-lo spread at widest in five weeks on weak barges
Premiums at more-than-five-weeks high despite abundant supply
- Aegean says 2015 marine fuel sales hit record high 13.5 million mt
The Piraeus, Greece-based global marine fuel supplier said it sold nearly 13.5 million mt of bunker fuel in 2015.
- Oil futures surge on smaller-than-expected US crude build
US commercial crude oil stocks rose 1.317 million barrels in the week ended March 11.