Product tanker order surge puts recovery into question Orderbook is dangerously large, says study
ING moves on to a new lending model Bank's emphasis now on bilaterals, says transport finance chief Fewster
Seadrill orders three new vessels for $800m Total revenues for Brazil project will be $2.7bn
Carbon-capping schemes spread to emerging markets China and Brazil regimes could drag shipping towards populist and political targets
Vessels retain insurance cover, TMT's lawyers say TMT's main creditor Mega Bank warned that TMT's insurance was at risk as it sought to block release of emergency funding, but a federal judge has freed cash to preserve and protect the vessels
Scorpio Bulkers secures $250m for ultramax order onslaught Tanker firm makes Oslo offering ahead of likely US listing for new venture
Brussels outlines plans to monitor shipping CO2 Move is perceived as drawing the industry closer to a market-based measure
No stopping now New IMO political impasse could drag shipping into one or more regional schemes
Concerns mount over Nigeria halting LNG exports Ships detained as port levy dispute leads to ban on vessels entering loading area
MSC Eugenia detained over damaged hull La Spezia harbour master pounces after port state control inspection
Caution in China Volatile equity markets show shipping has yet to emerge from global financial crisis
Egypt looks for more revenue as Suez transits decline Morsi government ponders fee hike or surcharges ahead of IMF loan talks
German shipping opening up for foreign capital Seven out of 10 shipowners expect more funds from non-local sources
Asia-Europe rates double July general increase boosts spot prices
Scorpio eyes eventual New York listing for bulk venture Company seeks to replicate tanker splash and eyes VLGC prospects
Kexim moves away from merchant vessels Export credit agency shift reflects South Korean yards' quest for high-margin orders
EC proposes emissions monitoring scheme THE EC today put forward a draft regulation to require owners to monitor and report on carbon dioxide in ship emissions as of 1 January 2018
Maersk to shed Brostrom MAERSK Tankers Singapore confirmed to Fairplay yesterday it is selling assets in Brostrom Tankers Singapore to Integra Holdings and Cldn-Cobelfret SA
Scorpio said to be near VLGC splurge NYSE-listed product tanker operator Scorpio Tankers is today firming up orders for a series of VLGCs, in a move aimed at capitalising on the US shale promise
FMC boss points to P3's green aspects FUEL-efficient ships deployed into US trades will be a "positive" attribute of the planned P3 box alliance, Washington's top maritime regulatory official told Fairplay
Scorpio Bulkers debuts in Oslo MONACO-headquartered Scorpio Group today introduced a new publicly traded drybulk company, Scorpio Bulkers
$41M sought in arrest OCTAVIAN Maritime Holdings seeks $41M in charter hire and termination fees related to a bareboat charter party with tanker operator Geden Lines
Frangou raises $250M NAVIOS Maritime Partners, the NYSE-listed limited partnership from Angeliki Frangou's drybulk stable, has raised $250M via a term loan
3 killed, 2 sought in China dredger sinking TWO CREW members were being sought today off Beihai's port in the sinking of a dredger that killed three others, the Beihai Maritime Safety Administration said
Singapore seizes tanker SINGAPORE'S law firm Rajah & Tann confirmed to Fairplay today it arrested the 7,022dwt products tanker Titan Unity
Hanjin HI seen under pressure INVESTORS should avoid buying Hanjin HI & Construction's shares until the Korean shipbuilder manages to pare its debt, which stands at 2.85 trillion won ($2.5Bn), a sector analyst said today
South American grains support Panamaxes SOUTH American grains continue to keep Panamax rates up, with freight rates still in five-digit figures for shipments to the Far East
Japanese question crew in fatal collision NORWEGIAN Car Carriers said the captain and third officer of its NOCC Oceanic are being questioned today in Japan after a fatal collision was confirmed
Capesizes hit 6-month high CAPESIZE rates have hit a new six-month high as iron ore and coal movements continue into China
Rickmers swoops on 2,200teu ships HAMBURG shipowner Bertram Rickmers has gone on the acquisition trail, following up his €175M ($228M) bond placing in Germany in early June
Japan's imports of Iranian crude rise 86% JAPAN'S imports of Iranian crude surged in May, after such shipments ground to a near-halt in April
Baragona Retirement Sparks CMA CGM America Changes CMA CGM has reorganized CMA CGM America, the U.S. agent of the CMA CGM Group, headquartered in Norfolk, Va., in conjunction with the departure of Frank Baragona, chairman of CMA CGM America. After a career in the shipping industry and nine years as head of CMA CGM America, Baragona will be...
Tampa Port Authority FTZ No. 79 to Grow The Tampa Port Authority has applauded the Foreign-Trade Zones Board for its decision to approve Foreign Trade Zone No. 79 to administratively restructure and expand their service area to include the Hillsborough and Polk counties in Florida. The decision will also reduce the timeframe for the combined federal and local FTZ...
Sea Star Receives 150 New Reefer Containers Sea Star Line has taken delivery of 150 new 40-foot refrigerated containers in the second year of a five-year equipment replacement plan, which aims to reduce the average of the entire Sea Star Line reefer container fleet to less than three years. The new containers, which will be fit with Carrier...
GATX Announces Three Senior-Level Appointments GATX Corp. has named Thomas A. Ellman as executive vice president and president of Rail North America, Michael T. Brooks as senior vice president of operations and technology and Paul F. Titterton as vice president and chief commercial officer. Ellman will continue to oversee the commercial activities of GATX's North American...
Q&A: Red Hands Trump Light Fingers Q: That was a good article about the carrier who was having chronic "shortages" at destination, apparently because of pilferage at destination. It brought back memories. We ship mixed orders of business consumables - some full carton, but mostly pick-and-pack in mixed cartons. More than half of our customer locations are...
Mexico's Rising Port Cargo Traffic Highlights Infrastructure Needs The Port of Veracruz, where the Mexican government hopes to leverage private investment to improve basic infrastructure.Mexico's port cargo traffic is expected to increase 80 percent to 508 million metric tons per year by the end of the government's current six-year administration in 2018, compared with the current 282 million...
SCFI: Asia-North Europe Spot Rates Soar Spot freight rates from Asia to northern European ports measured by the Shanghai Containerized Freight Index jumped 174 percent in the week ending June 28, only days before a July 1 general rate increase. It was the highest increase ever in this lane. On July 1, carriers such as CMA...
SCFI: Asia-US Spot Rates Achieve Significant Increases Shanghai Containerized Freight Index, U.S. West Coast, week of June 28, 2013 Full-size image The Shanghai Containerized Freight Index spot rates for Shanghai to U.S. trade lanes rose signficantly in the week of June 28, with both East and West Coast-bound lanes achieving more than 60 percent of the general rate increases recommended...
Study: Hydrogen Fuel Cells Could Power Ships at Berth Joe Pratt, Sandia National Laboratories' researcher, stands near the Port of Oakland, one of the West Coast ports he studied to learn whether hydrogen fuel cells are a viable power source for docked ships. (Photo by Steffan Schulz).Hydrogen fuel cells may be technically feasible and commercially attractive as a "clean,...
Canada's Fair Rail Freight Service Act Becomes Law Canada's new Fair Rail Freight Service Act, which requires Canadian rail companies to offer a service agreement to companies shipping goods by rail, if the shipper requests one, has become law, according to Denis Lebel, the nation's minister of transport, infrastructure and communities. In the event that rail companies and shippers...
Metro America Supply Chain Appoints VP for US Expansion Metro America Supply Chain Solutions has appointed a new vice president of business development and major contracts, in line with its strategy to build a team to better serve customers in the U.S. "Extending Metro's management team and operating solutions into the U.S. market will result in efficiencies and improved value...
Fenwick on DHL's New 'Super-Hub' at Cincinnati Airport Deutsche Post division DHL has invested $110 million to expand at Cincinnati/Northern Kentucky International Airport into a "super-hub" for the Americas trade. DHL Express Americas CEO Stephen Fenwick discusses the new hub with JOC Senior Editor Peter Leach...
Slideshow: 10 Ways Congress Can Help Shippers and Carriers Major shippers, logistics providers and transportation companies are taking advantage of a rare opportunity to tell Congress what they need to move goods and materials more effectively. The industry hopes testimony from executives to the U.S. House of Representatives will guide the chamber in passing the Water Resources Development Act...
Direct ChassisLink Acquires Hyundai Merchant Marine's US Chassis Fleet Direct ChassisLink, an intermodal marine chassis provider in North America, has acquired Hyundai Merchant Marine's U.S. chassis fleet, comprising more than 23,000 chassis, according to a joint announcement released today by the companies. In addition to the sale, HMM has entered into a long-term agreement pursuant to which DCLI will be...
Norfolk Southern Opens SC Bulk Transfer Facility Norfolk Southern has opened its new Thoroughbred Bulk Transfer terminal in Columbia, S.C., which will allow customers without rail sidings to transfer a large array of commodities between railcars and trucks. The terminal, owned by the Class I railroad and operated by independent contractors that facilitate bulk transfer and distribution, can...
Fitzgerald Appointed to Port of Houston Authority's Commission Harris County Commissioners Court in Texas has appointed Clyde Fitzgerald, a veteran labor leader, to serve as a member on the port commission of the Port of Houston Authority. Fitzgerald's appointment fills the seat of Jim Fonteno, who submitted his resignation to the commissioners court in April. Fitzgerald was sworn in...
Gulftainer Welcomes CMA CGM Alexander Von Humboldt The CMA CGM Alexander Von Humboldt will end its maiden voyage at Ningbo, China, by July 10.Gulftainer has welcomed the CMA CGM Alexander Von Humboldt container ship on its maiden voyage and call at the Khorfakkan Container Terminal at the Port of Khor Fakkan in the United Arab Emirates. The 16,020-TEU CMA...
Teamsters OK ABF National Master Contract Teamsters have voted to approve the national master portion of a contract with ABF Freight System.Members of the International Brotherhood of Teamsters voted to approve a national master contract with ABF Freight System that cuts wages and gives the less-than-truckload carrier more flexible work rules. The contract was approved by 52...
Thumbs up for GASS Jefferies shipping analyst Douglas Mavrinac has added StealthGas to his list of favourite shipping stocks.
Handysize holdup A second handysize bulker has grounded in the waterways serving South America's grain export ports.
Navios seals loan Navios Maritime Partners has put the finishing touches on a $250m loan from a syndicate of nine banks.
Wilson offloads oldie Norwegian mini-bulker owner Wilson has offloaded a vessel that has spent the past several years in lay up.
Capes in profit Skyrocketing capesize spot rates have entered positive territory for the first time this year.
Rickmers five identified? Rickmers Group's second hand boxship swoop this week is thought to have involved five vessels from bankrupt KG funds.
Diana inks with Cargill Diana Shipping of Greece has secured a two-year charter deal for a panamax bulk carrier handed back early by Louis Dreyfus Commodities.
October LNG launch The first sailing of an LNG-fuelled ferry between the island of Samso and Jutland on the Danish mainland is set to take place on 1 October 2014.
A hard day's night We take a look at what was said in the market over the past week.
Scorpio in dry debut Scorpio Bulkers has completed a hotly anticipated equity issue ahead of taking up a junior listing in Oslo.
MISC to trim tanker fleet Malaysian shipping giant MISC has revealed its action plan to ride out a difficult market.
CMA CGM banks $150m CMA CGM has finalised a $150m cash injection from a French sovereign wealth fund.
A merger or not? The UK's office of fair trading (OFT) is canvassing opinion over whether a recent deal between DFDS, NTEX and North Sea RoRo (NSRR) constitutes a merger.
Precious lengthens loan Thai bulker owner Precious Shipping has extended a $150m loan taken out to buy second-hand ships.
Vard's Brazilian trouble Vard continues to be plagued by ongoing problems at its Brazilian shipyards, the Norwegian offshore shipbuilding giant said today.
Death of the shipyard? The Spanish shipbuilding industry believes it will die out if the European Commission forces it to pay back EUR 2.8bn ($3.65m) in tax deductions.
Norden's dry sums Norden embarked on a near $450m dry-cargo expansion effort having developed a model to sort the wheat from the public relations chaff relating to eco newbuildings.
Wartsila wins CNCo deal Finland's Wartsila is supplying propulsion systems for up to 36 China Navigation Co (CNCo) newbuildings in China.
STX cancels six LRs South Korea's STX Offshore & Shipbuilding has torn up contracts for six large-range-one (LR1) tankers after the buyer failed to make an initial payment.
Diamond S fails to sparkle TradeWinds digests the digits making the headlines this week.
Forced sale law defined Strong endorsement of the principle that the forced sale of vessels is best conducted on a transparent basis by the Admiralty Marshal has come from a London high court judge.
SITC declares two SITC International has exercised options for two 1,800-teu boxships at China State Shipbuilding Corporation (CSBC), the company announced today.
Inside imploding TMT Increasingly aggressive banks and gamblers in the iron ore market contributed to bankruptcy filings involving several TMT entities last week, Nobu Su says.
Cash boost for Gdansk The Polish government is ready to pump money into Gdansk Shipyard, which has been threatened with a bankruptcy suit.
Krasnoye pockets profit Russia's Krasnoye Sormovo shipyard is retaining its 2012 profit.
New for Nova Singapore owner books six woodchip carriers at Sainty and Nantong yards in China.
Elderly Princess out Canadian government to replace 42-year old ro-pax ferry Princess of Acadia.
Party over for Allandia Swedish cruise operator Allandia Rederi AB is to suspend operations at the end of this month.
Stena in the green Stena Bulk's implementation of various types of eco initiatives designed to cut vessel fuel consumption are shaving around SEK 65m ($9.6m) annually from the company's costs.
Maersk sells again Maersk Tankers is selling its Southeast Asian tanker arm Bostrom Singapore to a joint venture between Integra Holdings and Cldn-Cobelfret.
Titan Unity arrested aSingapore Tankers' 7,000-dwt products tanker Titan Unity (built 2009) was arrested in Singapore yesterday morning by lawyers from the law firm of Rajah & Tann.
Baragona to retire from CMA CGM at year's end Frank Baragona, a long-time veteran of the shipping industry, had served as head of CMA CGM America the past nine years. His departure will spark a reorganization at the French line's offices in Virginia.
Teamsters approve national ABF contract The drivers' union employed at less-than-truckload carrier ABF Freight System have voted to approve the national portion of the master freight agreement as well as 21 of the 27 supplements.
Hyundai sells chassis fleet to Direct ChassisLink
Navis implementation at NY terminal plagues Maher Maher Terminals has had difficulties integrating a new terminal system at its facility in the Port of New York and New Jersey, forcing 11 vessels as of Friday to be diverted to other terminals in the port over the past two weeks.
UPS names IBM vet to board
Pritzker sworn in at Commerce, Foxx prepares for DOT post Penny Pritzker was nominated by President Obama to serve as commerce secretary on May 9. On Thursday, the Senate unanimously voted to confirm Charlotte Mayor Anthony Foxx as the country's next transportation secretary.
Benefits of raised Bayonne Bridge touted
Trillium plans 101 CNG truck filling stations by 2016
Weekly global market update A weekly price round up of bunkering hubs from around the world.
Fuel prices end week stronger in the Americas Demand was said to be quiet in Los Angeles on Friday.
Fleet Optimisation Conference details announced Sessions focused on regulatory challenges, designing for efficiency, fuel and propulsion management and ship performance optimisation.
Inland shipping now able to refuel with LNG in Rotterdam From July 1 inland shipping will be able to bunker with LNG in the Seinehaven, in Rotterdam Botlek.
Ferry docks being cleaned after vessel sinks, spills diesel fuel Spill of 30 to 40 gallons reported near Prudence Island ferry docks in Rhode Island.
New address for IBIA Asia office New contact details will take effect as of July 1.
Furjairah prices mainly soft No clear direction in prices at Suez.
Prices close week on firm note Gibraltar's bunker market was reported to be quiet.
Fuel costs hit bunker tanker owner Yujin posts losses for 2012.
Cruise line blames ECA as it pulls out of two US ports 'ECA requirements would significantly impact our fuel costs,' says Carnival.
Bunker tanker arrested Singapore firm has ship seized by authorities.
Bunker prices firm in Asia Supplies of bunker fuel at major Asian ports fine.
Clipper takes delivery of new fuel efficient bulker Vessel boasts 'latest development in technology and super eco fuel consumption.'
ClassNK developing vessel speed trial software The software will be made available to shipyards free of charge, says classification society.
Alfa Laval confirms scrubber order from DFDS Equipment to be retrofitted on three ro-ro vessels at Polish shipyard.
Chemoil signs $800 million syndicated banking facilities Development is a 'strong testament to our banks' confidence', says CFO.
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