Nakilat and Maran secure funding to expand LNG fleet Six-vessel joint venture taps growth in global supply
Excel Maritime files for Chapter 11 Move follows reorganisation deal with senior lenders in June
Rickmers takes five insolvent Ahrenkiel boxships for bargain $30m German owner benefits from KG crisis
Australia toughens its marine safety and environment laws Biggest legal shake-up in a century threatens stiffer penalties
CSCL borrows $320m to enhance liquidity China state carrier negotiates loans from Agricultural Bank of China and ANZ
Box rates rise fails to impress Markets seem to be unenthusiastic about the July 1 increase on the Asia-Europe trade lane, as lines call for additional rises elsewhere
Silent crisis grips Dutch version of KG funds Dozens of single-ship firms are insolvent and many more face restructuring
Rupee panic rattles demolition market Unease spreads to Bangladesh and Pakistan after India's inventory loses value
Northern range box growth forecast at under 1% Economic parameters show no signs of improving and the peak season may not come about, warns Global Port Tracker
Exit Chairman Wei Cosco's colourful boss had an outsized influence on the industry
TSA announces August rate hike Discussion group weighs 'further initiatives later this summer'
Oil spill reported off Singapore after two bulkers collide Oriental Pioneer spills 100 tonnes of fuel from damaged tank
Aframaxes hit earnings high Influx of charters boosts oil shipment rates from Southeast Asia to Australia
STX Pan Ocean has another vessel seized General cargoship owned by German KG fund arrested on Monday
MOL Comfort slips its tow wire Tugs battle poor weather to recover broken boxship's fore section
Alumina slips through Iran loophole IRAN WAS reported today to be importing ship cargoes of high-grade, refined alumina ore from Germany, France and other Western countries
Passenger survives 7 hours in Baltic A PASSENGER was reported today to be recovering from severe hypothermia after an amazing seven hours in the Baltic at seawater temperature of just 16C
Bergen discusses new yard owner BERGEN, the Oslo-listed shipbuilding and marine equipment group, said today it is in the final phase of clarifying possible external ownership of its yard unit
Labour tiff grips RSHI HONG KONG-listed China Rongsheng HI confirmed to Fairplay that operations are being affected by a labour dispute
Rupee-tied panic grips breaking sector BREAKING markets are reeling today after a near-halt in activity last week, when the rupee's slump continued
Mexico LNG imports surge IMPORTS of LNG into Mexico are up 37% for the first five months of the year due, largely because of the US shale boom, IHS Global Insight reported today
Nigeria blocks LNG cargoes over taxes TAX DISPUTES have sparked a blockade of LNG exports from Nigeria's Bonny Island, IHS World Markets Energy reported today
Five sought as pontoon quay capsizes A SEARCH continued today for the bodies of five people missing since a pontoon quay capsized yesterday on the Yangtze River in Chongqing
China's steel profits drop for fifth month PROFITS at major Chinese steel mills totalled 142M yuan ($23M) in May, down from 153M yuan in April, IHS Global Insight reported today
OSG loses nearly $9M OSG HAS failed to escape a harsh tanker market while operating under Chapter 11 protection, running up pre-tax losses of $8.99M for April
263 held in migrant smuggling cases GREEK Authorities are holding 263 people in connection with attempts to smuggle migrants over the past week
Oz closes offshore loophole AUSTRALIA is introducing a new federal law restricting the use of foreign offshore workers
G6-CKYH catch-up needed? BOX LINERS of the G6 and CKYH alliances might be forced to place more orders for ULCVs soon to narrow the gap with the nascent P3 Network alliance, Danish analyst SeaIntel said
Cebu releases HK bulker HONG KONG-flagged bulker Ming Yuan has been released by the Philippine authorities after it settled penalty charges for illegal entry
Indian LPG demand supports VLGCs VLGCS ARE still finding support today from India's growing LPG demand, with a couple of vessels booked on the spot market last week
Standout Growth for Air Freight Volume in Middle East in May Growth in global air cargo markets remained relatively flat in May, broadly following the trend of the last 18 months, according to the International Air Transport Association. Global air freight metric tons kilometers inched up 0.8 percent compared with the same month last year, following a 1.3 percent year-over-year gain in...
Traffic Mitigation Fee at LA, Long Beach Ports to Rise in August The West Coast Marine Terminal Operators Agreement today announced an 8.1 percent increase in the traffic mitigation fee at the ports of Los Angeles and Long Beach, Calif., effective Aug. 19, in order to sustain continued operation of PierPass OffPeak gates amid labor cost increases. The fee will increase by $5.00...
US Steel Imports Declined 8.6 Percent in May U.S. steel imports in May were 2.801 million tons, increasing 2.3 percent from 2.738 million tons in April (revised), but declining 8.6 percent compared with May 2012, according to government reporting. "Weak market conditions for imports, as well as domestic suppliers, continue to be reflected in these import levels," said David...
US Manufacturing Activity Rebounds, But Employment Index Contracts ISM Manufacturing: PMI Composite Index through June 2013 Full-size image The PMI Composite Index registered 50.9 percent for June 2013, bringing it back over the separating line of 50, signifying a return to expansion after one month of contraction in May, according to the Institute for Supply Management. Twelve of the 18...
DEMDACO to Open Distribution Center in Kansas DEMDACO has entered into a long-term lease for a 326,650 square foot distribution center that will be custom built for the gift and home décor products company at Logistics Park Kansas City in Edgerton, Kan., a suburb of Kansas City, Mo., according to NorthPoint Development and NAI Capital Realty. LPKC is...
Amtrak's Rule-Making Power Deemed Unconstitutional A three-judge panel of the U.S. Court of Appeals for the District of Columbia today unanimously ruled that Congress improperly delegated power to Amtrak when it allowed the private corporation to fine Class I carriers for causing delays in its passenger service, Bloomberg reports. Amtrak, a publicly funded service managed as...
Geodis Wilson to Expand Rail Freight Services in China Geodis Wilson aims to expand in China.Geodis Wilson has plans to expand its operation in the Asia-Pacific to include domestic rail services in China, as well as intercontinental services between China and Europe. "We are targeting customers who are looking for an alternative to air freight with a longer lead time,"...
Emirates Shipping Launches Central China India Service Emirates Shipping Line has launched its Central China India Service, which connects central and Southern China with Southeast Asia and the Indian subcontinent, and provides connections to the Southeast Asia region via Singapore and Port Klang, Malaysia. The first sailing of the CCI Service will commence from Ningbo, China, on...
Analyst: Window for Coast Cargo Shift Already Closed The opportunity for East Coast container ports to gain significant market share from their West Coast counterparts is over and unlikely to appear again, despite their growth expectations tied to the expansion of the Panama Canal, an outspoken supply chain analyst said Friday. The "perfect storm" for East Coast ports to...
FSI Closes $150 Million Investment in CMA CGM Le Fonds stratégique d'investissement has closed its $150 million investment in container shipping company CMA CGM through mandatory convertible bonds. The closing was pursuant to the agreement signed in February 2013, having obtained the relevant competition authorities approvals. Le Fonds strat'gique d'investissement, also known as FSI, is 49 percent owned by...
IAG Cargo Offers Capacity Guarantee for Smaller Prioritise Shipments IAG Cargo's new Capacity Guarantee is available for freight bookings under 661 pounds.IAG Cargo has started offering Capacity Guarantee to customers moving smaller shipments on its Prioritise service, designed for express cargo shipments. The capacity guarantee is an addition to the existing performance guarantee, and is available for freight bookings under...
TOTE CEO Anthony Chiarello Receives Vincent T. Hirsch Award for Professional Excellence FOR IMMEDIATE RELEASE - Princeton, NJ - June 28, 2013 - TOTE, Inc. President and CEO Anthony Chiarello was honored by The Navy League of the United States with the Vincent T. Hirsch Maritime Award at the organization's annual convention and Sea Service Awards Luncheon in Long Beach, CA last week. The Vincent T....
APL Logistics Wins 2012 Distribution Partner Award by NETGEAR® SCOTTSDALE, ARIZONA, 2 JULY, 2013: APL Logistics has been named 2012 Distribution Partner of the year by NETGEAR®, a worldwide provider of technologically advanced networking products. The award recognizes the logistics provider's performance in inbound and outbound management, inventory accuracy, quality and innovation. "It's an honor to be presented this prestigious award...
East-West Intermodal Index Inches Up U.S. east-west spot rates, week of July 1, 2013 Full-size image U.S. westbound intermodal rates increased for a second consecutive week, albeit minimally, as the overall U.S. index slipped, according to data on all-inclusive 53-foot door-to-door spot pricing quoted by railroads and provided by the 3PL IDS. The overall U.S. index edged down 0.4...
Better-Than-Expected Traffic Boosts Eastbound Trans-Pacific Trade Forecast Eastbound Trans-Pacific Trade 2008-2014 Full-size image Journal of Commerce Economist Mario Moreno upgraded his forecast for the eastbound trans-Pacific lane to 3 percent growth to a total of 13.1 million TEUs. Better-than-expected traffic in the first quarter was the major driver in the upgrade - issued in the June report of Container...
U.S. Merchant Marine Academy Welcomes Incoming Class of 2017 KINGS POINT, NEW YORK, July 2, 2013 - The U.S. Merchant Marine Academy today welcomed its incoming Class of 2017, consisting of 238 plebe candidates from across the country. Upon arrival, the Congressionally-nominated future Midshipmen began a rigorous, 18-day regimen of academic, military, and physical training known as Indoctrination (INDOC),...
Crowley Honored with Gold-Level "Healthiest Companies Award" from the First Coast Worksite Wellness Council (JACKSONVILLE, Fla.; July 2, 2013) - Jacksonville-based Crowley Maritime Corp. has been honored once again as one of the healthiest companies in the region by the First Coast Worksite Wellness Council (FCWWC). The company was selected for the 2013 Healthiest Companies Award in the gold category for its demonstrated commitment to...
Kurt N. Schwartz Appointed to Massport Board BOSTON - The Massachusetts Port Authority will welcome law enforcement and public safety expert Kurt N. Schwartz as the newest member of the seven-person volunteer Massport Board overseeing the state authority that owns and operates Boston Logan International Airport, Hanscom Field in Bedford, Worcester Regional Airport, the public container and...
STNG ups the ante Scorpio Tankers has penned a contract to build up to ten LPG carriers at two South Korean shipyards in a deal that could top $740m when the smoke clears.
EXM lines up auction Excel Maritime Carriers is getting ready to auction off two of its supramax bulkers after filing for Chapter 11 bankruptcy protection in White Plains, New York yesterday evening.
Product prudence needed Shipowners jumping on the product carrier bandwagon may have been getting a bit carried away, according to a new report.
Harbor Star plots IPO Philippines tug group Harbor Star Shipping Services is plotting an IPO in Manila.
More bad news for Eike Eike Batista's OSX is reeling today after a sister company pulled the plug on a huge order for offshore units.
Genting debut delayed A Genting ro-pax's deployment in Miami has been delayed after the vessel failed emergency tests.
Tanker sales rising Shipowners have spent over $6bn on ships in the first half of 2013 with interest in crude tankers on the rise, figures from a leading shipbroker suggest.
Eyal Ofer digs deep Shipowner Eyal Ofer has handed over a £10m ($15.15m) donation to help build new galleries at the Tate Modern in London.
d'Amicos claim innocence Italy's d'Amico family is distancing itself from a money smuggling scandal which has led the two top men at the Vatican Bank to fall on their swords.
Bergen stake sale close Bergen Group is closing in on a delayed tie-up with an international shipbuilder.
Bulker refloated Tugs have pulled a detained Vietnamese bulker from a Philippines beach.
Baltic run best since crash Dry-cargo rates are enjoying their longest winning run since before the financial crisis helped by a spring in capesize earnings.
Fastest ferry The Incat shipyard in Australia has finished testing a new fast ferry that can travel at up to 58.1 knots.
U-Ming eyes more sales Taiwan's U-Ming Marine plans to continue offloading ships to stave off the possibility of losses this year.
MOL Comfort breaks free The fore section of the broken boxship MOL Comfort has lost its tow line in the Indian Ocean.
OSG's red run extends OSG has run up a loss of over $50m since its bankruptcy filing last November, the tanker owner has revealed.
Iran on its own China's CSCL and Coscon have stopped containership calls in Iran, leaving domestic operator IRISL as the only carrier standing.
Excel loses listing Excel Maritime Carriers will lose its New York share listing on 12 July after filing for bankruptcy protection.
STX Offshore gets more Shares in STX Offshore & Shipbuilding (STX Offshore) leapt today on reports that creditors have agreed to provide another cash injection.
Excel enters Chapter 11 Excel Maritime Carriers has filed Chapter 11 papers four weeks after admitting it was ready to enter bankruptcy proceedings.
Brazilian millions Oslo-listed Subsea 7 has clinched another offshore deal from Brazil's Petrobras.
Lorenzo shedding ships Philippines feeder line Lorenzo Shipping Corporation is planning to replace four boxships as it renews its fleet.
Nanjing ventures forth China's Nanjing Tanker is eyeing international LPG routes as domestic competition increases.
De Bruin takes control Indofin Group, the investment company owned by Dutch billionaire and venture capitalist Cees De Bruin, has acquired a controlling stake in shipbuilding group IHC Merwede.
STX Alpha arrested Singapore's admiralty sheriff has placed shackles on the 10,900-dwt general cargo ship STX Alpha (built 2010).
Bulkers collide Two bulkers belonging to NYK of Japan and Sun Enterprises of Greece remain afloat off Singapore after colliding in the early hours of this morning.
Zanzibar mulls ferry order The government of the semi-autonomous Tanzanian island of Zanzibar says it is discussing a potential ro-pax ferry order with a shipyard in Korea.
Bunker clampdown continues Coast-Channels Marine is the latest bunker supplier to fall victim to Singapore ongoing war against errant bunkering practices.
TDW offloads US yard Tidewater has completed the sale of its shipbuilding and repair division to US compatriot Leevac Shipyards.
IATA: Cargo still depressed Last month, global air cargo capacity rose 2.1 percent, year over year, outpacing a 0.8 percent rise in traffic and causing load factors to decline to 44.9 percent, a lowpoint since the recovery.
DOT helps improve rail safety across North Carolina A combination of new grade separations, such as road or rail overpasses or underpasses, and highway-rail grade crossing closures and enhancements, will allow trains on the Piedmont Corridor to travel faster and more reliably.
Washington Notebook: ITA reorganizes to help U.S. exporters
STB looks for railroad-shipper advisory applicants
U.S. supports $130 million for Ethiopian Airlines
DHL scores chemical certification in Germany
COSCO CEO Wei Jaifu steps down A brief announcement said Li Yunpeng has been named director of the board and the president of COSCO Group and Wei Jiafu has retired and no longer holds any position in the company. Wei, 63, became president of COSCO in 2000.
Oracle Endeca extensions release touches supply chain functions Oracle acquired Endeca in December 2011. The extensions include several areas that touch Oracle's supply chain-based applications, including order management, warehousing, and landed cost management.
Safety board wants FAA to rethink air traffic control
GT Nexus shipper council gives CMA CGM data quality nod
Transpacific carriers seek $400 peak season surcharge
European prices set no clear direction Congestion experienced at Gibraltar.
Fujairah bunker prices undecided for second day Suez reported normal bunkering operations.
US port backs 'sock on a stack' to curb emissions 'The Port of Long Beach will effectively reduce port pollution by half.'
Caterpillar eyes marine propulsion market Buying Berg will see company's marine presence grow.
Tanker company looks for support in 'eco-tonnage' drive 'Shipping is experiencing an evolutionary process in fuel efficiency, we intend to remain at the forefront,' says Ardmore.
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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