Sun rises again in Japan The world's third-largest economy is gaining poise and that is good for shipping
Japanese shipping giants go their own way MOL, NYK and K Line adopt different strategies to ride out shipping downturn
JP Morgan turns attention to US port investments US bank switches focus away from European infrastructure projects
Unwanted weapons pile up at Mombasa as pirate attacks fall Stockpile of 7,000 firearms reflects disparities in management standards
Singapore leads the charge to develop LNG as bunker fuel Despite the potential, owners must overcome several short-term challenges
Due diligence result offers hope for STX Offshore & Shipbuilding Report suggests creditors would serve themselves better by keeping cash-strapped South Korean yard afloat
Europe could face bunker drought after 2020 Fuel will have to be shipped in, raising its cost, says OW Bunker sales chief
Netanyahu pledges to end port monopolies and tackle the unions Israel Ports Co invites tenders for box upgrades at Haifa and Ashdod
Geodis Wilson to launch China-Europe rail services Logistics firm plans cheap alternative to air freight based on longer lead times
MSC Eugenia released from detention Earlier water ingress in a hold was minor and not caused by hull damage, says company
Box clever IACS to look at how big boxships are designed, built and operated
Protests hit Rongsheng Hundreds of shipyard workers take to the streets over mass layoffs and unpaid wages
VLCC earnings climb sharply as Asian charterers pile in Summer demand for crude drives market upwards
Class societies to examine post-panamax boxship design New work proposed as Rina takes one-year chairmanship of IACS
Scorpio orders up to 10 newbuildings to enter LPG market Five VLGCs to be built at Hyundai Samho and DSME with an option for five more
Salvors reattach MOL Comfort tow wire Split vessel's fore section heads to port
Excel's good start Although bankruptcies are never pretty, the firm's deal with its lenders looks promising
Grimaldi seals trans-Europe deal Grimaldi Lines has sealed an operational agreement with Italy's transcontinental operator Interporto Servizi Cargo (ISC) to develop European intermodal traffic via Italy to and from Tunisia, Libya and Italy's southern island Sicily
STX Finland to build Scandlines ferries BALTIC sea ferry line Scandlines is resuming its newbuilding programme for ro-pax tonnage with the nomination of embattled shipbuilder STX Finland as new yard
Shenzhen fleets suspend operations HALF OF Shenzhen-based shipping fleets having been suspended, according to a reported by Shenzhen Logistics and Supply Chain Management Association (LSCMA)
California ballast water law questioned BALLAST water treatment systems reliable enough to meet California's strict performance standards do not yet exist, state authorities have determined
Scorpio Tankers orders VLGCs SCORPIO Tankers has ordered "at least five and up to 10" LPG carrier newbuilds at two shipyards in South Korea, but shed four LR2 product tankers ordered in May to accommodate this expansion into a new business area
Bondholders and JV partner object to Excel plan EXCEL Maritime's JV partner Robertson Maritime Investors and its bondholders yesterday filed separate objections in the company's Chapter 11 case in New York
Contract rates rise, spot fall for Stolt-Nielsen STOLT-NIELSEN, the London-based chemical carrier, tank terminals and tank containers group, has reported a fall in 2Q and year-to-date interim net profit
Orders cancelled at Guangzhou Longxue CHINESE yard Guangzhou Longxue has seen the cancellation of the newbuilding orders for two 82,000dwt drybulkers, which were placed in May 2010
CSSC's shipowning unit placed $540M orders in 1H CSSC (Hong Kong) Shipping, a shipowning unit of CSSC, placed combined $540M newbuilding orders at Chinese yards in the first half of 2013
Brightoil borrows $50M HONG KONG-listed Brightoil Petroleum yesterday borrowed up to $50M for a 10-year term from China Development Bank's Hong Kong branch
MOL resumes towing of wreck MITSUI OSK Lines said today it has resumed towing the bow section of the MOL Comfort after the tow line broke yesterday
Truck Slowdown Hits Terminal at Nehru Port Slowdowns by container truck drivers over wage increases threaten to disrupt normal operations at the APM Terminals facility in India's Port of Jawaharlal Nehru (Nhava Sheva). "A go-slow by truck operators started at APM Terminals on June 29. This has badly affected APMT's productivity and the terminal is able to perform...
Japan's Monetary Policies Boosting Confidence The monetary easing and fiscal stimulus policies of Japanese Prime Minister Shinzo Abe are giving Japan's business leaders and economy a huge boost. The Bank of Japan's "tankan" survey, which measures manufacturer sentiment, turned positive for the first time since 2011 in the three-month period ending June 30. The quarterly survey...
China's Trade Outlook Is Deteriorating China's manufacturing activity weakened and new export orders slowed last month despite the improving U.S. economic outlook. The China Federation of Logistics and Purchasing said its purchasing managers' index fell to 50.1 in June from 50.8 in May, while the new orders sub-index and new export orders sub-indexes fell, respectively, to...
Stagnant Exports Widen US Goods Trade Deficit The U.S. trade deficit in goods expanded to $63.4 billion in May, up $5.0 billion from April, as exports fell by $0.9 billion to $130.3 billion, and imports rose $4.2 billion to $193.7 billion. The total deficit, including trade in services, stood at $45.0 billion in May, up from $40.1 billion in...
Israel Ports Co.'s Plans for New Terminals Advance Israel Ports Co. has published the first stage of an international tender for the operations of new container terminals to be built in Haifa and Ashdod, Israel. The announcement was jointly released by Benjamin Netanyahu, Israel's prime minister; Yisrael Katz, the nation's minister of transport, national infrastructure and road safety; and...
China's Top 10 Container Ports See Shifts in Rankings China's top 10 port rankings for 2012 have started to shift in the first five months of 2013. Through May, many of the ports, outside of the top 3, have switched positions. Guangzhou, the fourth-ranked Chinese port in 2012, was the only port to see a year-over-year decline in May, with...
Extra Volumes Snarl Traffic at Port of New York and New Jersey The Port of New York and New Jersey today reported that traffic congestion throughout the port roadway system has affected the entire New Jersey port complex, particularly the southern Port Elizabeth entrance. The congestion results from extra volumes moving through terminals in preparation for the Fourth of July holiday. Port Newark Container...
Hamburg Süd Adds Italy Call to US-Mediterranean Service Hamburg Süd has added a direct call at Salerno, Italy, to its route from the U.S. Gulf Coast and South Florida to the western Mediterranean. The updated port rotation was scheduled to take effect from the Madrid Express, voyage 322E. Separately, the container line reported that the Cap Domingo, voyage 99S, has...
Westbound Trans-Pacific Trade Outlook for 2013 Unchanged Westbound Trans-Pacific Trade 2008-2014 Full-size image Journal of Commerce Economist Mario Moreno kept his below 4 percent growth outlook for this year's westbound trans-Pacific container trade, as he doesn't expect the reverse of European and U.S. fiscal imbalances in the first quarter to offset significant risks ahead for the trade lane. The...
CEVA Logistics Builds Chemical Storage Area in Spain CEVA Logistics has built a 240-square-meter (about 2,583 square foot) chemical storage area at its multiuser hub in Ontígola, Spain, south of Madrid. A team of specialized engineers built the area in compliance with all existing rules and requirements relating to the safe storage of chemical products and risk prevention in...
Evergreen Drives Capacity Increase in Global Shipping Fleet The top 21 ocean container carriers increased the combined capacity of their fleets by 6.3 percent in the past year amid slowing cargo demand, according to industry analyst Alphaliner. Taiwan's Evergreen Line drove the increase in global capacity - equivalent to 892,000 20-foot-equivalent units - with a 24 percent or 156,500-TEU...
Towing of MOL Comfort's Fore Part Resumes Mitsui O.S.K. Lines today reported that the fore part of the MOL Comfort has been recovered and towing has resumed, after it was disconnected from the tow wire during salvage operations on July 2. The 7,041-TEU, Bahamas-flag MOL Comfort snapped in half on June 17 during inclement weather in the Indian...
Canada's Trade Deficit Narrowed in May Canada's merchandise imports in May fell 3.2 percent month-over-month, while exports declined 1.6 percent, resulting in a trade deficit of C$303 million (about US$287.2 million), compared with $901.5 million in April, according to Statistics Canada. Following four consecutive monthly increases, imports fell to $37.5 billion in May, driven by lower imports...
US Containerized Imports Rebound U.S. containerized imports through April 2013 Full-size image U.S. containerized imports increased 2 percent year-over-year in April, rebounding from a 7.3 percent year-over-year decline in March, according to advance figures from PIERS, a JOC sister company. U.S. containerized imports totaled 1.48 million 20-foot-equivalent unitsfor the month of April, the second-highest year-to date...
CTS: North American Exports to Far East Fall Again Containerized exports from North America to Far East Asia were down roughly 7 percent in April 2013, according to data from Container Trades Statistics Ltd. This was the second consecutive year-over-year decline and the third in the first four months of 2013 in this lane. Journal of Commerce Economist Mario Moreno...
Drewry's Trans-Pacific Rate Shows Full Achievement of GRI Drewry's Hong Kong-Los Angeles Container Rate Benchmark increased $400 in the week of July 3, according to the latest release of the Drewry Hong Kong-Los Angeles Container Rate Benchmark. "The $400 per 40-foot container general rate increase recommended by the Transpacific Stabilization Agreement for July 1 was fully accepted by...
UK Ports' Combined Freight Traffic Dropped 4 Percent in 2012 Total freight traffic for all ports in the U.K. in 2012 decreased 4 percent year-over-year to 501.2 million metric tons, according to the United Kingdom's Department for Transport. Despite slight growth in 2010 and 2011, tonnage through U.K. ports has fallen by 10 percent over the last decade and is now...
UPS Launches Monitoring Service for Sensitive Shipments UPS has launched UPS Proactive Response Secure, a time- and temperature-sensitive shipment monitoring and risk management solution to protect customers against lost profits. The new service guarantees up to the retail value, in addition to other costs, when unexpected events occur, including weather delays and product spoilage. "This is the highest level...
Karatzas collared Industry veteran Basil Karatzas has been accused of embezzling money from his former employer, US sale-and-purchase broker Compass Maritime Services.
MSC backs CIMC swoop China International Marine Container (CIMC) has turned to state-owned Dalian Shipbuilding Industry Corp (DSIC) for eight post-panamax boxships backed by long-term charters to Mediterranean Shipping Co (MSC).
MSC into India Swiss owner MSC is teaming up with India's Adani Group to operate a container terminal.
Yamamaru trims fleet Yamamaru Kisen is tipped to have sold off one of its panamax bulkers.
Banks fund Viking 10 KfW IPEX and UBS have joined forces to bankroll 10 Viking River Cruises newbuildings under construction in Germany.
Rainoil takes two Nigerian oil trader Rainoil has snapped up two products tankers for domestic trading.
Mind that tanker! A UK lifeboat team has saved three unlucky sailors whose small yacht was pinned against a Turkish tanker.
Cape orders add up A sharp upturn in capesize newbuilding activity means more capacity was added to the overall bulker orderbook in the first half of this year than in the whole of 2012.
Ferry bids due in Nova Scotia in Canada is trying to tempt ferry operators to run a new service to New England.
Keppel books jack-up Keppel FELS has bagged a $210m order for a jack up drilling after investing in a new Vietnamese joint venture.
Duo sell Clarksons stock Two of the largest investors in Clarksons have sold off shares in the world's largest shipbroker, it was revealed today.
Bulker crew fined The Philippines has ordered the crew of a Chinese bulker that illegally entered its water to pay PHP 1.2m ($27,600) in penalties.
Pilot suspended A US pilot has been suspended for five months after an OSG tanker hit the San Francisco-Oakland Bay Bridge in January.
Rongsheng calm on rally Workers laid-off by China Rongsheng Heavy Industries this week marched in the shipyard in protest against the moves.
Flex resumes talks Oslo-listed Flex LNG has re-started talks with Samsung in Korea aimed at ending a row over down-payments for an FLNG project.
Wilson wins three Brazil's Wilson Sons has bagged a contract to build three offshore support vessels for a compatriot owner.
Not pure, but attractive Scorpio Tankers's entry into the LPG arena has been welcomed on Wall Street despite the deal stripping the company of its pure play status.
Back on track Salvors have reattached a tow wire to the fore section of the MOL Comfort in the Indian Ocean.
Stolt profits slide Norway's Stolt-Nielsen has posted a weaker second quarter profit, but tankers have returned to profit.
Sasco heads to US Russia's Sakhalin Shipping Co (Sasco) is launching a new run to the US.
Israel invites bids for new terminals An Israeli newspaper reported there are plans to build new terminals in both Haifa and Ashdod and they "will mark a major step forward in efforts to break powerful public sector monopolies and the unions that dominate them."
Foxx sworn in as DOT secretary Prior to his confirmation, he served as the mayor of Charlotte from 2009 to 2013. During that time, he is credited with making transportation investments the centerpiece of Charlotte's job creation and economic recovery efforts.
Trade, investment top Obama agenda during Africa trip
Transloading growing in lieu of intact intermodal With Southern California the load center for domestic and international business, most of what's coming out of the region is container freight stuffed into domestic containers or trailers, said investment bank Stifel.
WLS: P3 would have dominating share of east-west capacity
Towing of MOL Comfort resumes
Geodis Wilson expanding China rail service The third party logistics services provider has expanded its Asia-Pacific operations to include domestic rail freight services in China, and plans to offer intercontinental intermodal service between China and Europe.
Vanguard offers CFS receiving application
Rickmers buys 5 small containerships
Cass: Freight shipments down in June
Cargo down at Delta in June
Envirotainer, CHEP forge cold-chain deal
Sea Star expands visibility of reefer monitoring service
Prices steady in Fujairah 'Crude oil has been going up but bunker prices have been holding.'
Prices firm in Rotterdam Crude oil prices showing gains.
Crew earns new TV sets by saving fuel Bunker Prize competition 'beginning to become more of a tool for sharing knowledge across the fleet,' says DFDS official.
Dry bulk operator seeks court protection Excel Maritime has debts of $1 billion.
Oil prices touch 14-month high as Egyptian unrest continues 'The real concern in the oil market is not Egypt, but whether unrest will spread to other parts of the Middle East.'
Asian bunker prices resume climb Below-average demand reported in Singapore and Tokyo.
LNG-powered tugboats stuck in design phase, say US experts Current regulatory environment for LNG-powered tugs remains 'unsettled' in the US, expert notes.
Slow steaming claims 'pure rubbish' Fuel savings are not stoking profits, only helping to keep losses in check.
Stolt-Nielsen net profit shrinks in H1 Tanker segment sees lower year-on-year operating profit even as bunker costs come down.
Alfa Laval bags another scrubber order Order worth $25 million, firm reveals.
CSCL vessels to use fuel saving ship trim optimisation software ECO-Assistant able to reduce fuel consumption by up to 10%, says GL.
Wartsila engine fuel consumption better than expected, says owner Operational results of the MV Shansi 'very successful', says China Navigation.
Eniram launches enhanced bunker-saving application Ships will be able to achieve fuel savings of at least 10% when used with firm's dynamic trimming technology, it claims.
BIMCO voices 'in principle support' for vessel MRV scheme But scheme should not place 'unnecessary burdens' on the industry.
Shell expands marine lubricants portfolio in MESA region Expansion to new ports will allow Shell to deliver products to more customers, says spokesman.
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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