Better box discipline urged A DEEP drop in spot rates has been sparked by liners' failure to hit their targeted increase last month, a senior shipping analyst said
New FPSO projects make slow progress NEW projects for FPSOs are likely to stall over the next five years as economic uncertainty and local content requirements discourage final investment decisions
Nigeria plans fund to boost cabotage NIGERIA plans a dedicated vessel fund of about $500M to develop its indigenous fleet, Fairplay was told today
Bulker arrested in Singapore SOUTH Korean bulk carrier TCT Glory was arrested in Singapore yesterday at the request of local law firm Haridass Ho & Partners, according to the city-state's admiralty sheriff
Bohai Leasing taking over Seaco BOHAI Leasing, a subsidiary of HNA Capital, said it plans to take over 100% of the equity in container lessor Seaco SRL, a subsidiary of HNA Group
Deal nears to convert Murmansk navy yard A DEAL is nearing completion to convert a Russian naval yard into a drilling platform manufacturer, Fairway was told today
Subsea 7 prices notes at $20.97 each SUBSEA 7 today priced its issue of $500M worth of convertible notes
MOL and Kansai Electric to own two LNG ships MITSUI OSK Lines and Kansai Electric Power have closed a deal for joint ownership of two LNG carriers
Gales disrupt Oz ports GALES are disrupting shipping at Australia's major box terminals in Port Botany, Melbourne and Adelaide, while a near-disaster was averted at Sydney
SE Asian energy demand could curb coal exports SOUTHEAST Asia could export less coal because of its own fast-growing energy demands, the International Energy Agency said today
Global Manufacturers Drawn to Myanmar Original equipment manufacturers are urgently targeting the heady potential offered by Myanmar's untapped consumer market, low wages and excellent trading potential. A number of textile companies have already taken the plunge and now Unilever has confirmed it will soon build its first manufacturing plant in the country, primarily to meet domestic...
PIERS: US Containerized Imports Highest Since October 2007 U.S. containerized imports through July 2013 Full-size image U.S. containerized imports grew 2.5 percent year-over-year in July, according to advance figures from PIERS, a JOC sister company. U.S. containerized imports totaled 1.62 million 20-foot-equivalent units in July, the highest volume since 1.65 million in August 2007. "Among commodities, we expect further gains in...
BNSF to Spend $90 Million on New Mexico Projects A BNSF train in New Mexico.BNSF Railway plans to spend an estimated $90 million on track and rail capacity improvement projects in New Mexico this year. The Class I railroad will continue its track improvement program in the Southwest state, including 2,100 miles of track surfacing and undercutting work, the replacement...
Oakland Port Truckers Threaten Week-Long Strike Port of Oakland Executive Director Chris Lytle will meet with harbor truckers, terminal operators and other stakeholders Thursday in an attempt to head off a possible week-long disruption threatened by owner-operators. The independent truck drivers distributed flyers at marine terminals stating that they intend to call a week-long strike beginning Oct....
Government Shutdown Delays US Shipments WASHINGTON - Less than 48 hours after the federal government's shutdown, shippers dependent on some agencies to clear cargo are seeing delays at U.S. ports of entry. Shipments requiring paperwork from the Environmental Protection Agency, the Food and Drug Administration, and the Department of Agriculture, which face severe staff reductions because...
Kane Is Able to Relocate DC Operations in Atlanta Kane Is Able's new distribution center in Atlanta.Kane Is Able is expanding its transportation and distribution services by moving to a new 426,000-square-foot distribution center in Atlanta. The consumer product goods logistics company is relocating from its existing facility in Lithia Springs, Ga., to the new building, which is about eight...
Radiant Logistics Acquires On Time Express Radiant Logistics has acquired On Time Express, a Phoenix-based, time-critical domestic and international logistics company. On Time Express services companies in the aviation, aerospace, plastic injection molding, medical device, furniture and automotive industries, according to Radiant Logistics. The transaction provides for an aggregate base purchase price of $20.0 million, consisting of $7.5...
The Water Buffalo in the Room With the federal government shut down - the latest example of a dysfunctional Congress - progress toward passing a major port and inland waterway authorization bill is a rare glimmer of bipartisanship. It's long overdue. The last Water Resources Development Act was passed in 2007. Authorization of major projects has been...
Bigger Ships to Tax South American Infrastructure For many years, ships with capacities of 5,900 20-foot equivalent units were the standard size used to carry goods to and from Latin American ports, but bigger vessels are becoming more common. Ships of 7,100-TEU capacity are calling at Latin American ports, and vessels as large as 9,600-TEU capacity are...
Navios Takes Delivery of Two Panamax Ships Navios Maritime Holdings has taken delivery of two Panamax vessels for its owned fleet. The Navios Taurus, a 2005-built vessel of 76,596 deadweight tons, is chartered out for about six months at a rate of $9,263 net per day. The Navios Northern Star, a 2005-built ship of 75,395 deadweight tons, is...
Overcapacity 'a Structural Problem,' NYK's Kudo Says NYK Group sees overcapacity as "the usual state of affairs for the majority of vessel types" and is dealing with it by improving efficiency and expanding in logistics, offshore oil vessels and other markets, the Japanese carrier's president said. "We must consider that the shipping business has a structural problem that...
CSAV Gets Financing for Seven New 9,300-TEU Ships Compañía Sud Americana de Vapores has agreed an agreement with a consortium of banks to take on $347 million in loans to help pay for the purchase of seven new ships, Reuters reports. The Chilean carrier plans to pay for 60 percent of the purchase with the bank loans and the...
Average US Intermodal Rate Hits 42-Week High Overall index, week of September 30, 2013 Full-size image The index of U.S. intermodal rates for the week ending Sept. 30 increased for a third straight week, according to data on all-inclusive 53-foot door-to-door spot pricing quoted by railroads and provided by the 3PL IDS. The overall rate rose 1.6 percent or $33 for...
Rocket Attack on Cosco Ship Hit Container of Smuggled Cigarettes A rocket fired by suspected al-Qaida terrorists at a Cosco Asia container ship as it transited the Suez Canal in August apparently hit a container crammed full of smuggled cigarettes, according to Irish Independent. The illicit cargo, with an estimated street value of €4.3 million (about US$5.8 million), was destined for...
Stolt makes Arctic move Stolt-Nielsen is investing in a new Norwegian oil terminal to take advantage of rising production in the Arctic and Barents Sea.
Avance cools STNG talk Avance Gas has cooled speculation linking it with a swoop for Scorpio Tankers VLGC newbuildings once it has completed a move for new shareholder Frontline 2012's vessels.
DNV drops fuel unit Norwegian classification society DNV has sold off its fuel testing unit DNV Petroleum Services (DNVPS).
GOL taken to court India's GOL Offshore is being taken to court after it defaulted on debt payments, it is claimed.
Star Bulk raising $70m Star Bulk Carriers' stock has slumped further on Wednesday as it revealed details of a share sale worth a potential $71m.
Outbreak hits Fred Olsen duo Two Fred Olsen cruiseships have separately been hit by outbreaks of illness among passengers.
Euroseas tied to buy Euroseas is tipped to have purchased a panamax bulker to replace a vessel scrapped earlier this year.
Atlantska offloads duo Croatian owner Atlantska Plovidba has sold off two older bulkers, but chartered them back on a bareboat basis for five years.
MOL enters FSRU arena Mitsui OSK Lines (MOL) has made a breakthrough into the LNG floating storage and regasification (FSRU) arena after bagging a deal for a new import project in Uruguay.
Tanker officer drowns The body of an officer from a palm oil tanker has been found in Malaysian waters.
Rally, not a recovery A rally in capesize spot rates has more time to run but a lack of improvements in the smaller asset classes means a full market recovery has not yet arrived, Intermodal says.
Alga heads to Falcon A French tanker has been chartered to lighter fuel from the grounded Formosa Plastics ship Formosa Falcon in the Bahamas.
YZJ passes order mark Yangzijiang Shipbuilding shares gained some traction today after a 17-ship newbuilding haul took it past the full-year order target.
Oceaneering books at BAE US offshore services contractor Oceaneering International has ordered a subsea support vessel from BAE Systems.
Grandweld adds crew boat Dubai's Grandweld Shipyards has won its third vessel order from Khalid Faraj Shipping in five months.
Stena's reefer rebirth Sweden's Stena RoRo has unveiled a new generation of reefer vessels for the banana trade.
Master grounds sinking ship A sinking general cargoship has been beached by its captain en route to Kartal in Istanbul.
Indian ro-ro run delayed A new ro-ro run for India has been pushed back as costs spiral.
Navig8 adds two more Navig8 Product Tankers has wasted little time expanding its newbuilding orderbook with orders for another pair of LR2 tankers.
Subsea 7 converts Holders of Subsea 7 bonds are converting a $500m 2013 issue into shares.
Sadra seeks tanker cash Iranian shipbuilder Sadra is considering legal action over what is says is the failure of Venezuela's PDVSA to pay for the first in a series of four new aframaxes.
Boost for Wan Hai Moody's Investor Services has upgraded its outlook for Taiwanese liner operator Wan Hai Lines to stable from negative.
Tidewater taps investors Tidewater has joined the rush of maritime entities looking to raise funds to pay down existing debt.
Canadians eye Asia Richardson International, one of Canada's largest grain handlers, has set up an office in Singapore as it looks to boost sales to Asia.
US LPG terminal plan Two US companies have unveiled plans to build a large LPG export facility on the US Gulf of Mexico coast.
Korean bulker held Singapore's admiralty sheriff has arrested a South Korean-owned handysize bulker in an early morning raid.
TGP returns to Wall Street Shares of Teekay LNG Partners slipped in afterhours trading Tuesday after the partnership announced plans to pursue a follow-on equity offering.
IATA: Europe, Mideast fuel global cargo growth In August, European and Middle Eastern carriers fueled the activity increase, with airlines in Europe seeing demand tick up 3.4 percent on a 4.2 percent capacity increase. Middle Eastern cargo demand rose 23.8 percent year over year.
Report says Apple will alter logistics in China Digitimes said in the past Apple products had to be first shipped to Hong Kong or Shenzhen, China, to complete the export procedures and then imported back before they could hit store shelves in China.
CSCMP prepares for Singapore conference
Farmers keep pressure on for WRDA vote
U.S. government shutdown has trickle-down effect A partial shutdown of the U.S. government due to gridlock in Congress over a short-term spending extension will cost the U.S. economy about $300 million per day, or $1.5 billion per week, but lost productivity could worsen.
Texas attorney general supports American-US Airways merger This is just the latest blow for the Justice Department in the merger case, which is set to go to trial on Nov. 25. Due to the government shutdown, Justice officials had pushed for a March start to the trial.
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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