Opec overview: Your essential guide to the politics shaping the oil market Big decisions are unlikely to emerge from this week's meeting of Opec oil ministers, but demand and supply issues will get an airing and these could impact oil prices and the cost of doing business
Restis released from prison Greek owner's legal team says 'new facts' have emerged in banking fraud probe
American Shipping Company sets out its plan to recapitalise Jones Act owner with tonnage locked into OSG looks to shore up its finances
Scorpio launches fresh blitz on tanker and dry bulk acquisitions Newbuilding deals worth $1bn include seven VLCCs
Indian tanker owners await return of Iran trades Shift in policy could herald opportunity for those that can wait for insurance clarity
Euroseas orders two ultramaxes in China Greece-based owner books eco-ships with Sinopacific group yard
Shipowners set to win ballast-water respite - but not in the US IMO is expected to accept proposal to extend period to retrofit new technologies
FMC sets global summit date as G6 unveils expansion plans UPDATE: Regulators from Europe and China accept invitation to review boxline alliances
G6 to expand to the transatlantic and transpacific west coast Lines respond to P3 alliance with plans for beefed-up deployment
Shinsei Bank revealed as creditor that seized Sanko bulker Japanese lender to foreclose mortgage on capesize vessel ahead of judicial sale
Baltic Sea aframax earnings jump $4,000 overnight Fewer tankers available as bad weather disrupts shipping
P3 plans prompt MSC to expand Antwerp port presence Line makes formal approach to port authority to develop Deurganck Dock
Weaker spot market hits Independent Tankers' third-quarter results Fredriksen crude tanker company's VLCC spot earnings fall $1,200 per day
Russia opens floodgates to its LNG exports New law means more LNG to flow from Russia as Gazprom loses monopoly
Japanese majors and SCI secure fourth Petronet LNG contract Consortium books 173,000 cu m ship at HHI to fulfil long-term charter deal
Latvian Shipping Makes Q3 profits The Latvian Shipping Company achieved net profits of $2M for the third quarter of this year
Gdansk yard edges closer to closure Poland's historic Gdansk shipyard is reportedly edging ever more closely to bankruptcy after its owner, the Gdansk Shipyard Group, failed to provide a business plan for the facility by the end of last week
Finnish Transport Agency reverses icebreaker decision Finnish Transport Agency, which owns the country's icebreaker fleet, has reversed a decision in principle to order a new icebreaker from Aker Arctech
Jadrolinija signs large fuel deal The Croatian passenger shipping company Jadrolinija has today signed a one-year fuel supply agreement with the local oil and gas company INA worth 350M kuna ($62.2M), covering the period between 1 January and 31 December 2014
Euroseas pulls trigger on dry bulk orders NASDAQ-listed Euroseas has ordered two eco-design Ultramax newbuilds as dry bulk sentiment continues to brighten
US to host P3 summit Beijing and EU regulators have agreed to meet on 17 December in Washington
Container shipping to embrace tough 2014 Container lines will face a tough 2014 as there will be an oversupply of tonnage and little demand for the capacity, a senior shipping analyst has warned
Top Teekay owner pares stake Resolute Investments, the largest shareholder in NYSE-listed Teekay Corp, is selling almost a fifth of its holdings in the tanker company
Summa requests state funding for new Zarubino port The Summa Capital group of Moscow has announced a plan to build a $1Bn new port at Zarubino, provided that the federal government pays for harbour dredging and berth infrastructure, as well as power and rail lines
YRC Worldwide Plans $28.7 Million Stock Sale to Cut Debt YRC Worldwide is turning to Wall Street for help reducing its massive debt as it works to achieve new long-term agreements with its Teamsters and lenders. The troubled $4.9 billion trucking operator plans to sell up to 3 million shares of common stock on the open market to raise as much...
Nippon Express Takes Stake in NEC's Logistics Unit Nippon Express Co., Japan's largest international freight forwarder, has acquired a 49 percent stake in NEC Logistics Ltd., the logistics arm of NEC Corp., the two companies announced on Dec. 2. Nippon Express, commonly known as Nittsu in Japan, and NEC, one of the nation's biggest electronics makers, made NEC Logistics...
Batumi International Container Terminal Deploys Additional Solutions from Tideworks Technology SEATTLE - Dec. 3, 2013 - Tideworks Technology®, Inc., a premier provider of full-service terminal management and planning software solutions, today announced that Batumi International Container Terminal (BICT) has successfully deployed Tideworks' Mainsail Vanguard®,its core marine terminal operating system (TOS); Forecast® by Tideworks, its port community web portal; and Traffic ControlTM, its equipment...
FMC Soon to Stop Clock on P3 Review Federal Maritime Commissioner Richard Lidinsky said the agency will soon stop the clock on its review of the proposed P3 Network. Maersk Line, Mediterranean Shipping Co. and CMA CGM can take as long as they want to respond to FMC questions. Without such a pause, the FMC would have until mid-December...
'K' Line to Open Myanmar Office in 2014 Yangon, Myanmar "K" Line will open an office in Yangon, Myanmar, in January 2014. The container line will appoint Japanese personnel from its head office in Tokyo for the new office. "By assigning Japanese personnel to Yangon, 'K' Line will be able to have direct contact with the Myanmar industrial community in order...
Maersk Line to Launch Intra-America Service Port rotation for MesoAmerica Express.Maersk Line will launch a new weekly intra-America service connecting the U.S., including Puerto Rico, with Mexico, Guatemala, Honduras, Costa Rica, Panama, Colombia and the Dominican Republic. The port rotation for the MesoAmerica Express service will be as follows: Houston; Altamira and Veracruz, Mexico; Santo Tomas, Guatemala;...
NYSA Board Reaffirms Support of Lawsuit The New York Shipping Association's board unanimously reaffirmed its support of a lawsuit the NYSA and the International Longshoremen's Association filed against the Waterfront Commission of New York Harbor. The action came at the NYSA board's quarterly meeting today. The NYSA-ILA lawsuit in U.S. District Court in Newark, N.J., seeks to enjoin...
Adam Kahn Joins SmartDrive San Diego, California - December 3 2013 - SmartDrive Systems, a leader in driving performance solutions that reduce collisions and improve fuel efficiency, today announced that Adam Kahn has joined its management team as Sr. Director of Product Marketing. Kahn brings more than 20 years of transportation and logistics marketing experience...
Gaps Galore, as US Export Growth Lags Imports One of the major headaches U.S. ports encounter in managing container trade flows is the imbalance in demand for loaded imports and exports. Ports handling more loaded imports than exports wind up with a lot of empties sitting around, taking up precious container yard space. Ports that focus on exports...
G6 Alliance to Expand Coverage to Compete With P3 The G6 Alliance unveiled plans today to expand into the trans-Atlantic and Asia-U.S. West Coast trade lanes in a widely expected response to the proposed P3 Network partnership between the world's three largest carriers, Maersk, Mediterranean Shipping Co. and CMA CGM. The G6 carriers - Hapag-Lloyd, NYK, OOCL, Hyundai Merchant Marine,...
Navis Expands Global Footprint in China as Da Chan Bay Terminal One Goes Live with N4 OAKLAND, Calif.--(BUSINESS WIRE)--Navis, the global technology standard for managing the movement of cargo through terminals, announced that Modern Terminals Limited has gone live on the Navis N4 terminal operating system (TOS) at Da Chan Bay Terminal One (DCB), located in Shenzhen, China. The N4 platform enables Modern Terminals to generate...
APS Stevedoring Announces New East Coast Vice President APS Stevedoring LLS, auto and general cargo/break bulk stevedoring company headquartered in Long Beach, recently announced the appointment of Donald E. Rupert as its vice president East Coast. Reporting directly to President John Hering, Rupert will be in charge of developing and overseeing business opportunities for APS Stevedoring in the U.S. East Coast and Gulf regions. Rupert has...
Zenith Global Logistics Hires Customer Service Manager CONOVER, NC - December 3, 2013 - Specialized furniture carrier and international 3PL provider Zenith Global Logistics has hired Donna M. Adams as Manager, Customer Service, reporting to Michael Echerd, Chief Operating Officer. Adams has responsibility for the overall management of Zenith Global Logistics' customer service team, which handles day-to-day contact with...
Ridgebury tied to raid Ridgebury Tankers has been tipped as the buyer of a suezmax tanker controlled by MPC Steamship of Germany.
Totem names new COO Totem Ocean Trailer Express has hired a Yusen Logistics Americas executive to serve as its chief operating officer (COO).
Khanna denies buy Reports linking a fledgling dry-bulk firm led by the former operations chief of Greek bulker and tanker owner DryShips appear to be way off base.
Morgan Stanley downs SFL Morgan Stanley downgraded shares of Ship Finance International (SFL) Tuesday based on a bet that the Bermuda and Oslo-based operator is unlikely to increase its dividend anytime soon.
DSX reactivates cape Diana Shipping of Greece appears to have secured employment for a capesize bulker that landed at the centre of a chartering dispute with Shagang Shipping just last week.
Le Bon rocks ICAP Simon Le Bon rocked the shipping floor at ICAP's charity event in London today.
Restis released Greek entrepreneur and shipowner Victor Restis has been released from custody after more than four months, but will still be subject to some restraints.
RABT banks share cash Sweden's Rederi AB TransAtlantic has almost sold out a stock offering designed to ease its liquidity squeeze.
SALT scoops eight more Rapidly expanding Scorpio Bulkers (SALT) has added another eight newbuildings to its roster in deals worth $242m.
Euroseas takes the plunge Nasdaq-listed Euroseas is heading to China for two new eco-ultramax bulkers as it renews its fleet.
STNG's magnificent seven Scorpio Tankers has confirmed its entry into the VLCC market with an order for seven newbuildings.
DHT wins upgrade An early VLCC newbuilding swoop in an improving market has helped DHT Holdings draw an upgrade out of Global Hunter Securities.
G6 extends reach The G6 Alliance of container lines has expanded its cooperation to take in Asia to US west coast trades and transatlantic routes to Europe.
Navig8 bags six more Navig8 Chemical Tankers has taken its newbuilding spending past $600m after firming up a second batch of options at Hyundai Mipo Dockyard.
Bass Strait ro-ro bid Australian transport magnate Chas Kelly is close to bringing in two new ro-ros for a Bass Strait run.
Rio cuts spending Rio Tinto's spending cuts have sliced deeper than expected as chief executive Sam Walsh continues an effort to reduce outgoings.
Bourgas up for sale Bulgaria's Bourgas Shipyards is being put up for sale in different lots for a total of EUR 207m ($280m).
It floats! The largest floating facility ever built has hit the water at a South Korean shipyard.
DHT's eco carrot Evolving eco VLCC designs rather than a recovery in spot rates tempted DHT Holdings to order newbuildings at Hyundai Heavy Industries, its leading executives say.
Nacks makes MPV move China's Nantong Cosco KHI Ship Engineering (Nacks) is developing an LNG-fuelled multipurpose ship (MPV) to capture a slice of the eco-market.
NewLead strikes debt deal Greek bulker and tanker owner NewLead Holdings has turned a $44.82m debt into new shares for a private equity fund.
AMSC shoots high American Shipping Company has pocketed $120m from a private placement as part of a financial overhaul announced last night.
ALNG inks maiden fixture Norway's Awilco LNG has landed a maiden voyage fixture for its second newbuilding which hit the water last week.
ITC's spot of bother Frontline-owned Independent Tankers Corporation (ITC) has warned it will be forced to draw on cash reserves to keep its VLCC fleet operational.
Karlshoej fund sells down A trust representing Teekay founder Torben Karlshoej has sold a batch of shares in the New York-listed shipowner.
NSC sale fails Russia's 20% stake in Northern Shipping Company (NSC) has been left on the shelf ahead of an auction scheduled for this week.
CBA moves on shipping Commonwealth Bank of Australia (CBA) is aiming to fill the void left by an exodus of European lenders from the ship-finance scene.
Big boxship for Hanjin Korea's Hanjin Heavy Industries has revealed an order for a big new containership.
Lukoil picks Bumi Armada Bumi Armada has won contracts to supply three offshore vessels to Lukoil for work in the Caspian Sea, it confirmed Tuesday.
Japan boosts India ties Japan's three largest shipowners have teamed up with the Shipping Corporation of India (SCI) to order an LNG carrier newbuilding.
Damen wins Canada deal Damen Shipyards Group has won a newbuilding order from Canada for a ro-pax ferry in a deal worth CAD 51m ($48m).
Japex backs imports Japan Petroleum Exploration Co (Japex) is to go ahead with a new LNG import terminal in Fukushima Prefecture.
TMT property deal challenged Cathay United Bank is challenging a Today Makes Tomorrow (TMT) entity's sale of a Taipei property in the continuing bankruptcy saga of the Nobu Su-led shipowner.
BALT seals cape raid US operator Baltic Trading appears to have completed the acquisition of two capesize bulkers.
Old Dominion ups growth expectations Officials raised tonnage-per-day expectations due to significant growth in October and November. The carrier said it will likely see year-over-year growth of between 9.5 percent and 10 percent in the fourth quarter.
FMC sets global summit for Dec. 17 The Federal Maritime Commission said Monday it planned to host on Dec. 17 a global regulatory summit "in light of the increased networking among ocean common carriers." Regulators from China and the European Union will be in attendance.
Maersk will offer MesoAmerica service
Washington Notebook: U.S. Chamber urges Congress to settle on final WRDA bill
Experts question viability of Amazon drone delivery system "That is classic Jeff Bezos. He's playing his magic tricks again," Michael Zakkour, a principle with Tomkins International Consulting. "I can give 100 reasons why he'll never do home drone delivery."
Russia launches investigation of Russian steamship agencies The Federal Antimonopoly Service said the case was initiated upon materials obtained in the course of several dozens of unscheduled on-site inspections of economic entities - in particular, Russian agents of marine container shippers.
G6 Alliance plans transpacific, transatlantic expansion The six containership companies that belong to the G6 Alliance are planning to expand their cooperation to the Asia-U.S. West Coast and transatlantic trade lanes. The new services are scheduled to begin in the second quarter of 2014, pending regulatory approval.
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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