NYK wins another CVC with Hokuetsu Kishu Japan's NYK Line has won a long-term consecutive voyage charter (CVC) with compatriot paper manufacturer Hokuetsu Kishu Paper. The latter imports wood fibre and pulp to make paper. The contract will be serviced by a wood chip carrier that NYK has ordered at Oshima for 2018 delivery. The...
Samjin Shipbuilding Industries to resume business Samjin Shipbuilding Industries has confirmed that it will resume operations in mid-February 2016 after a Chinese company came to its rescue. The South Korean-owned company, whose shipbuilding facilities are in Weihai in China's Shandong province, found itself mired in financial woes after accepting low-priced orders in the last few years. Chinese investor...
Stock value of Keppel's marine division eroded Singapore's Keppel Corporation's share price has slid to a point where its offshore and marine division is virtually worthless, according to a report by RHB Securities. The stock closed at SGD4.83 (USD3.38) on 20 January. RHB Securities analyst Lee Yue Jer said, "Keppel's stock has slid to a point where its offshore...
BDI volatility at record low after 'death spiral' Volatility of the Baltic Dry Index (BDI) has been reduced to record lows after a death spiral that has floored the index, and it has now reached a level from which the only way should be up. Looking back, the BDI was rather range bound in the...
Commentary: Economic woes to test China's latest Five Year Plan China is about to begin its latest Five Year Plan, and while it is easy to dismiss the planned approach as a Soviet-style relic of the past, the next few years will critical to a country undergoing a chaotic transition from an export and industry focus...
World Economic Forum outlines greater global risks to trade ahead of Davos The year ahead will see more barriers to trade, the World Economic Forum (WEF) managing director told IHS Fairplay ahead of the annual meeting in Davos, Switzerland, starting today. Espen Barth Eide, managing director of the World Economic Forum, said "greater powers and states are competing - not on the...
China slows, Africa grows With China's slowing economy casting a shadow across the global maritime and trade sector, news this week of multiple investments in African port and supply chain infrastructure points to one place where industry leaders are clearly turning for growth opportunities. Africa is centre stage for global terminal operators at the moment,...
Suezmax, Aframax spot rates crawl to a decline Spot rates for Suezmax and Aframax tankers have slowed to a decline as December 2015, according to the Organization of the Petroleum Exporting Countries (OPEC) report for January 2016. Based on the monthly report, spot rates for Suezmax dropped 7% month on month (m/m) in December 2015, dragged down by limited...
Westport seeks 'orderly' expansion Malaysia-listed port operator Westports Holdings (Westport) follows a simple and prudent guideline for port expansions, according to its CEO Ruben Emir Gnanalingam. "Every time we hit a certain level of utilisation, we expand.So last year we decided to expand to the next phase, which is container terminal 8, or CT8. The...
Box ship sold at new low According to Braemar ACM, 2008-built, 2,824 teu container ship Kota Permasan was reportedly sold for USD10.5 million to an end user, setting a new record low. Kota Permasan was built by South Korean shipbuilder Hyundai Miyo. Hyundai Miyo-built, E.R. Malmo, an older vessel constructed in 2005 with similar design specification...
Panamaxes plunge to record low Baltic Panamax Index continues downward rout, dragging BDI with it
Safe Bulkers scores 30-month post-panamax employment at above-market rate Period deal with unidentified charterer underlines owner's portfolio approach
North Sea offshore rate spike may be short lived Effect of lay-ups may not be enough to hold rates as 2016 rig count forecast bears bad news
North P&I bides time over return to Iran But fixed premium specialist DGS consulting lawyers over possibilities now sanctions partially lifted
Nigeria LNG's billion dollar tax spat ratchets up Tax breaks for Nigeria LNG were unnecessary as energy companies would have made the investment anyway, claims ActionAid
Ma Zehua steps down as China Cosco chairman Move expected following merger between Cosco and China Shipping
Product tanker rates down on major routes as tonnage outpaces demand Atlantic basin gasoline and diesel glut curbs arbitrage flows
Ports America quits Oakland Stevedore to focus on other US west coast investments as Oakland pledges to minimise disruption
SIPG to raise $608m in bonds Money will be used to repay bank loans, adjust debt structure and replenish working capital
Succession questions as Evergreen's Chang Yung-fa dies Update: Will any of Dr Chang's four sons take control or will senior management continue to run the group? Evergreen Group issues "business as usual" statement
Shanghai International Port Group may operate new port in Algeria $3.3bn project to become major transhipment harbour to serve north Africa and Europe
Evergreen founder Chang Yung-fa dies aged 88 Owner among most influential figures in Asian and global shipping
North P&I publishes dry bulk cargo safety guide Book designed to spell out legal requirements and best practice
Primorsk enters Chapter 11 in effort to resolve impasse with senior lenders Company reaches debt for equity swap deal with unsecured bondholders and aims to extend senior debt obligations
Swiber takes stake in Nigerian offshore company Deltatek Offshore now an associated company of Swiber
India's shipping ministry launches green ports project Green Ports Initiatives focuses on environmental aspects while Swachh Bharat Abhiyaan targets premises' cleanliness
Energy company EDF moves first Texas LPG to Asia VLGC will deliver 45,000 tonnes of propane to end user in Asia
Abu Dhabi Ports posts record cargo volumes for 2015 Ro-ro volumes boosted by shift to Khalifa port
Mississippi waters remain at high levels Stronger currents are slowing trade
Eagle Bulk in trouble with senior lenders over US sanction violation Company enters into forbearance agreement to resolve covenant breach and rectify missed loan payment
A ticket out of cyclical doomsday shipping economics? Despite the 'Grey Gauge' hovering near to suicidal, a greener future might just prove a brighter one for shipping
Tennessee best state for small motor carriers; California worst, survey says Small trucking companies grumble that federal regulation is pushing them out of business, but a new survey shows which states are also making it harder for owner-operators and small fleet operators to keep rolling. Tennessee topped the list of best states to own a smaller-sized trucking firm in the U.S. and...
Atlas Air Worldwide acquires competitor Atlas Air Worldwide Holdings' plan to acquire competitor Southern Air Holdings will diversify the air cargo carriers' fleet, strengthen its relationship with its biggest customer, DHL Express, and position it to grow in the U.S. and globally, according to a BB&T analyst. Atlas Air, one of the world's largest air cargo...
Rio, Recife ports move forward on deepening, Santos delayed Two of three of the most important Brazilian port deepening projects are advancing, paving the way for container lines to eventually bring the larger vessels that will soon to be able to traverse the larger Panama Canal locks to the ports of Rio de Janeiro and Recife. The project to deepen...
Atlas Air Worldwide to acquire Southern Air Holdings Atlas Air Worldwide Holdings' plan to acquire competitor Southern Air Holdings will diversify the air cargo carriers' fleet, strengthen its relationship with its biggest customer, DHL Express, and position it to grow in the U.S. and globally, according to a BB&T analyst. Atlas Air, one of the world's largest air cargo...
Inland Distribution 2016
TPM Asia 2016
Container Trade Europe
China shipping industry shrugging off container weight rule In less than six months, the new container weight verification rule will take effect. However, the China-based manufacturers, freight forwarders and shipping lines I spoke to don't expect much to change and have only a moderate awareness of what SOLAS even means. The International Maritime Organization is a specialized agency of...
Global terminal operators turn to Africa as China slows Cape Town portWith China's slowing economy casting shadows across the global maritime and trade sector, news this week of multiple investments in African port and supply chain infrastructure points to one place where industry leaders are clearly turning for growth opportunities. Africa is center stage for global terminal operators at the...
No reinstatement of trucker hours-of-service rules on the horizon ATLANTA - U.S. truck driver hours-of-service rules suspended by Congress won't be put back in place any time soon, and not without consultation with trucking "stakeholders," a Federal Motor Carrier Safety Administration official told trucking and logistics executives today. "We are continuing with that suspension, even though we're into fiscal year...
Minor Russia container operator grows as majors struggle Ruscon's MANP facility.Russian intermodal container operator Ruscon posted a traffic increase in the third-quarter of 2015 because of new services, more shipments of refrigerated cargo and new customers. The strong performance of Ruscon goes against the downward trend in Russia's container trade that defined 2015 and led to talk of consolidation...
CP wants DOJ to investigate 'campaign' to block NS takeover bid Canadian Pacific on Tuesday asked the U.S. Justice Department to investigate what it says is a concerted effort by the other Class I railroads to block its attempt to purchase number four U.S. railroad Norfolk Southern.
Y.F. Chang, founder of Evergreen, dies at 88 The 17th richest person in Taiwan, Chang was known as a bit of a maverick in the ocean shipping industry, as well as a philanthropist and environmental advocate.
EZ Worldwide Express files for bankruptcy The parcel carrier, many of whose clients are large retailers, was hit hard by a holiday shopping season that "fell far short" of expectations, according to court filings with the U.S. Bankruptcy Court in Newark, N.J.
Commentary: Maersk makes stand on maternity Maersk Group recently announced it was upping the amount of paid maternity leave it will offer female employees, a positive move by the global liner carrier.
Singapore's record bunker sales due to narrower differential to Russia prices Piroj executive director ascribes high sales to low prices making Singapore attractive for bunkering.
Eagle LNG finds technology provider for LNG bunkering plant Company chooses natural gas liquefier from Cosmodyne.
TANKERS: Turkish port of Ceyhan closed by bad weather: port agent Operational delays in the Bosporus from higher number of vessels.
Russian DeloPorts' 2015 bunker sales fall 33% on year Bunker sales hit by drop in cargo vessel demand.
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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