Scorpio confirms $455m spending spree on 15 dry bulk newbuildings Scorpio says Japanese yards to be used as well as Chinese
Cyprus pledges support for shipping President tells maritime gathering that he will strengthen the sector
Improved scrapping sentiment raises spectre of speculative purchasing GMS reports a disconnect between sales and local activity on subcontinent
STX Pan Ocean struggles to liquidate in Hong Kong Insolvent dry bulk firm seeks creative ways to prevent vessel arrests
Scorpio Bulkers buys newbuilding panamaxes from Wisdom Marine Firm signs $134m deal for two 84,000 dwt and two 81,600 dwt ships
Consolidation hits smaller Greek shipping companies and older fleets Number of owners falls to 2005 level but larger outfits resist well, says Petrofin
International code of conduct could confuse, says BIMCO ICoCA may confuse shipping and distract stakeholders from value of ISO PAS 28007
Soechi buys VLCC BW Luna for $36m Interest in secondhand tonnage keeps prices stable
Shipping should be helped with cost of low-sulphur fuels, says Sekimizu IMO chief tells Maritime Cyprus that society as a whole should bear the financial burden of emissions curbs
Asia-Europe box volumes surge 10% in August Slow economic recovery ensures volumes remain lower than in 2011
Nakilat reports dip in profits But global gas-shipping opportunities keep Qataris in buoyant mood
DryShips launches equity-raising campaign Nasdaq-listed owner close to rescheduling deal with banking syndicates
Samjin Shipbuilding lands order for up to four chemical tankers Anglo-Atlantic Steamship snaps up 50,000 dwt vessels for charter to Laurin Maritime
HSH Nordbank ready to pull the plug Bad bank vessels to go to scrap if warehousing deals cannot be reached
Taiwan group seeks coal supply TAIWAN's Formosa Plastics Group is calling for a tender for a monthly delivery of a Capesize-load of coal from November 2013 to March 2014, Fairplay has learnt
Petredec orders four LPG tankers PETREDEC told Fairplay today it had ordered four 11,000m³ pressurised vessels at Japanese yards
TAS sells vessel for $12M MALAYSIAN shipbuilder TAS Offshore said today it had sold an anchor handling tug supply vessel for around 38M ringgit ($12M)
Bulker sales continue strongly DESPITE a pause in the Baltic Dry Index rally last week, secondhand bulker sales have continued unabated
Keppel signs yard deal with PEMEX KEPPEL O&M has signed an MOU with Mexico's national oil company PEMEX to jointly develop, own and operate a $400M yard in Mexico
Speculative recycling purchases resume in South Asia AFTER months of quiet activity, speculative purchases have returned to the South Asian ship recycling scene (bar Pakistan), with prices of over $400/lt ldt offered for vessels
Tanker pools face challenges TANKER pools, once viewed as a strategy to beat chronically low freight rates, are now facing new challenges
Cido Shipping sells chemical tankers THE Hong Kong unit of South Korean ship owner Cido Shipping has sold four chemical tankers en-bloc
Menlo Worldwide Logistics Opens Australia Facility Menlo Worldwide Logistics' new warehouse and office facility in Brisbane.Menlo Worldwide Logistics has opened a new multi-client warehouse and office facility outside of Brisbane, Australia, in Seventeen Mile Rocks. The 1,692 square meter (about 18,213 square foot) warehouse and 328 square meter office space is located in the Metrowest Business and...
NYCT Orders Container Cranes for Waste Handling New York Container Terminal has ordered two rubber-tire gantry cranes and two rail-mounted gantry cranes from Konecranes for use in waste handling in New York. The cranes, which have a lifting capacity of 50 tons, will be used for moving containers of municipal solid waste from New York City, as part...
Falling Imports Help Ease Strain on Indonesia's Economy Falling imports in August helped ease the strain on Indonesia's rupiah, which has lost 20 percent against the dollar so far this year. The declining strength of the rupiah and dropping consumer spending power as fuel prices have spiralled combined in August to enable Indonesia to post its first trade surplus...
Panalpina Realigns Global Strategy With New Region Karl Weyeneth, Panalpina's new chief commercial officer.The Panalpina Group is realigning its regional setup to establish a fourth region, comprising the Middle East, Africa and the Commonwealth of Independent States. The region, headquartered in Dubai, United Arab Emirates, will come into effect on Jan. 1, 2014. It is the supply chain management...
P3 Rivals Strengthen Presence in US Trade MSC Chicago at the Port of Virginia. JOC Top 40 Container Carriers - U.S. Import Trade Lanes, First Half 2013 Full chart The P3 operating alliance of Maersk Line, Mediterranean Shipping and CMA CGM in the east-west container trades doesn't start until the second half of 2014, but each of the three carriers...
APM Terminals Welcomes CSCL Ship in Belgium CSCL's Star at APM Terminals Zeebrugge.APM Terminals Zeebrugge in Belgium has received the first call of China Shipping Container Lines' container ship Star on the Asia/Europe Express Service 7 service. "We are extremely proud to welcome China Shipping Container Lines to our facility," said Mark Geilenkirchen, managing director of APM Terminals...
US Containerized Exports Bounced Back in July U.S. containerized exports through July 2013 Full-size image U.S. containerized exports inched up roughly 1 percent year-over-year in July, to 966,148 20-foot-equivalent units, according to preliminary figures from PIERS, a JOC sister company. July's slight increase was a rebound from a 4.5 percent drop in June, when exports hit their lowest level...
Aviation Industry to Develop Climate Change Plan for 2020 ICAO Council President Roberto Kobeh González (second from right), 38th Assembly President Michel Wachenheim of France (third from right) and ICAO Secretary General Raymond Benjamin (top left) are congratulated by delegates and ICAO officials upon the conclusion of the 38th ICAO assembly.The United Nations International Civil Aviation Organization's member states have...
Dumping Ships From East-West to North-South Trade Lanes Nearing 'Saturation' Ocean carriers' tactic of shifting surplus capacity from east-west trades to north-south routes is nearing "saturation point," according to Drewry Maritime Research. The "endless" cascading of tonnage from the main haul trades to regional routes is now "seriously haemorrhaging" freight rates in north-south services, and the rate of decline in the...
Mississippi River Traffic Back to Normal After TS Karen Dissipates Graphic from the National Oceanic and Atmospheric Administration shows where Tropical Storm Karen dissipated in the Gulf of Mexico. Vessel traffic on the Mississippi River has returned to normal, as remnants of Tropical Storm Karen dissipated. U.S. Coast Guard officials rescinded all restrictions on the river and area waterways at about midnight...
US Government Shutdown Closes Kings Point The U.S. Merchant Marine Academy at Kings Point, N.Y., has been temporarily closed by the government's partial shutdown. Superintendent James Helis said the academy has moved its scheduled fall break from the original date of Nov. 1 to 11, and that cadets were sent home Friday through Oct. 14. The change is...
US, EU Seek New Date for Canceled Trade Talks The U.S. and the European Union will today attempt to agree on a new date for trans-Atlantic trade talks, after this week's negotiations were canceled because of the partial shutdown of the U.S. government. Assistant U.S. Trade Representative Dan Mullaney is scheduled to meet with EU Trade Commissioner Karel De Gucht...
Nevada chops Genco stake A company that had been Genco Shipping & Trading's largest shareholder has dramatically slashed its stake in the US bulker owner.
Pipeline to drive demand Demand for products tankers trading in the Atlantic Basin is poised to pop in the coming months, a leading equity analyst told clients Monday.
Trojan torches bulker Greek owner Trojan Maritime has tossed its oldest bulker on the scrap heap at a time when Bangladeshi demolition prices are rising.
Bahri scraps again Saudi state owner Bahri has sold the last of its veteran ro-ro cargoships, it is claimed.
SALT sprinkles $450m Scorpio Bulkers has gobbled up 15 new vessels in a move worth in excess of $450m.
OSC fixes VLOC finance Oman Shipping Company (OSC) has fixed up a loan to part-finance four huge new VLOCs on charter to Vale for 20 years.
Nakilat sees profit rise Qatar Gas Transport Company (Nakilat) posted a rise in third quarter profit but earnings for the year to date are still down on the first nine months of 2012.
Tanker attack foiled The Iranian navy has beaten back two raids by pirates on a domestic tanker in the Gulf of Aden.
Genting adds $960m ship Genting Hong Kong is splashing close to $1bn on a new cruiseship for the Asian market.
Arctic profits on ice AP Moller-Maersk CEO Nils Andersen believes Arctic boxship sea routes are unlikely to be commercially viable for at least 10 years.
DB backs big yards Deutsche Bank has urged investors to boost their holdings in two of the world's largest shipbuilders amid a rise in newbuilding prices.
Three missing in sinking A search is on for three crewmen lost when their stand-by ship sank off the Netherlands.
Bodouroglou diluted Michael Bodouroglou has seen his holding in Paragon Shipping diluted by the bulker's owner's latest equity issue.
Subsea 7 stocks up Norway's Subsea 7 is lining up a share buy-back of up to $200m to refill its treasury.
Laurin adds tanker quartet Swedish tanker owner Laurin Maritime has signed up for its first Chinese newbuildings.
MK makes it seven Singapore's MK Marine has returned to Xiamen Shipbuilding in China for more platform supply vessel (PSV) newbuildings.
Scorpio into panamaxes Scorpio Bulkers has completed a $134m swoop for four panamax newbuildings from Wisdom Marine.
ABG ratings slashed India Ratings & Research (IR&R) has downgraded the debt of ABG Shipyard due to tight liquidity.
Alaskan takeover sealed An Alaskan court has approved the acquisition of Northland Services by rival Alaska Marine Lines (AML).
Second Gulf Nav VLCC seized Gulf Navigation has said lenders have arrested another of its VLCCs in a row over a loan default.
Keppel Mexico bound Keppel Corp is teaming up with Mexican state-owned oil company Pemex to build a shipyard to build jack-up rigs.
Bulker causes oil spill Vietnamese authorities are battling to prevent a environmental disaster after a bulker ran aground on Friday.
Maersk gets spill fine Maersk Tankers has been fined £15,00 ($24,000) by UK authorities for polluting waters within 12 miles of its coastline.
Petredec orders four Petredec continues to take advantage of low newbuilding prices with an order for four small LPG newbuildings in Japan.
FSL exodus continues First Ship Lease Trust (FSL Trust), the Singapore-listed business trust, has seen another senior executive quit the company.
VLCC sale blocked A Dutch court has refused a request by creditors of Gulf Navigation for the forced sale of a VLCC arrested in Rotterdam last month.
Cascading hurts North-South freight rates Drewry said the decision by ocean carriers to dump unwanted vessel capacity from their East-West schedules into North-South trade lanes "is now seriously hemorrhaging freight rate levels in North-South services."
CTS sees signs of container upturn
Safmarine MPV seeks to grow breakbulk business "2013 has been a significant year for Safmarine MPV which started with the AP Moller-Maersk Group's decision to establish the Safmarine MPV business as a separate and independent business unit within the group," a company executive said.
ICAO sets 2016 for emissions program deadline Facing pressure by the European Union, which had developed and implemented its own emissions-capping plan for the airline industry, ICAO members hammered out a deal that would seemingly placate EU officials.
Forwarder network to use CargoWise platform
Freight expenditures up in September Money spent on domestic freight shipments rose 5.2 percent from August to September, the largest increase since March, as shipment volume rose 2.7 percent, month-over-month, according to Cass Information Systems.
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