P3 is cost-focused just like G6, says OOCL's Alan Tung Mega-alliance is essentially no different from its rival, claims acting chief financial officer
UK gives go ahead for floating armouries Government issues 50 licences but acceptable standard remains unclear, says BIMCO
Charter expiries hit Teekay Tankers' second quarter Owner is optimistic of ultimately recovering loss on Nobu Su loan but records provision
Ardmore executes fleet expansion plan Two product tankers now on option from SSP, South Korea, bringing total to eight
Great Eastern Shipping boosted by product tankers and offshore trade Indian carrier's product tanker time charter yield jumps 37% year on year
Teekay LNG remains upbeat despite revenue drop Higher number of offhire days blamed for distributable cashflows of $55.4m
Thamesport loses three deepsea services Transatlantic express shift to Southampton 'will improve schedule reliability'
Cash-rich Sinotrans Shipping stays in black due to deposits gain Dry bulk unit's net profit amounts to $1.6m, thanks to $11.9m finance income
ICTSI posts first-half 20% rise in revenue New operations in Pakistan and Indonesia help lift port terminals' throughput to 3m teu
North P&I and Sunderland Marine merger mooted Possible union would create one of the largest mutual marine insurers, say firms
Matson moving forward with ship replacement plans Jones Act 2,800 teu boxships expected to cost $200m apiece
Wilh. Wilhelmsen deepsea ro-ro volumes rebound Optimising and adjusting tonnage to market demand remains a key focus, says chief
EU Chamber of Commerce slams unequal VAT treatment in China New Chinese tax regime creating 'highest concern' in European shipping community, says trade group
OOCL slips into red with $22.6m loss Hong Kong carrier confident of peak season
Eagle Bulk narrows losses in second quarter Nasdaq-listed operator hit by tough supramax market, but scores gains on operating costs
Dryships posts $18.2m loss in second quarter George Economou-led owner pledges shares in Ocean Rig to ease payment terms on loans
Students scale new heights in shipbroking exams Institute of Chartered Shipbrokers celebrates a milestone as 300 students complete exams
Wilhelmsen: volume drop levelling out NORWAY'S Wilh. Wilhelmsen, the listed vehicle carrier and logistics company controlled by Wilh. Wilhelmsen Holding, said today a year-long drop in vehicle volume has levelled off
Yemen port threat now seen as exaggeration YEMEN'S government exaggerated its report that it broke up a plot by Al-Qaeda to seize the southern port of Mukalla, an IHS Global Insight assessment concluded today
OOIL drops into the red in 1H13 HONG KONG-listed OOIL, parent of OOCL, said today it sank into the red in 1H13, mainly because box volume, freight income per teu and non-shipping business have all dropped
US approves LNG exports THE US LNG sector is expected to benefit from a third export facility that has been approved by the Obama administration
Matson posts profits of $20.1M HONOLULU-based Matson nearly tripled its profits year on year in 2Q13
GLDD loses $25.2M DREDGING operator Great Lakes Dredge & Dock said today it lost $25.2M in 2Q13, primarily because of losses within its demolition unit
Ardmore expands fleet ARDMORE Shipping, the newly minted 'eco' design tanker specialist that started trading on the NYSE after its IPO last week, confirmed today its first newbuilding orders as a public company
GE Shipping profits rise 35% GREAT Eastern Shipping said today lower expenses helped it to 35.4% more profits for its April-June quarter year on year
Ocean Rig surges OCEAN Rig UDW turned in bumper 2Q13 net profits of $38.76M, a reversal from $2.8M in net losses from a year ago
Rio's profits crash by 71% RIO TINTO said its profits were 71% lower in 1H13 than in the first half of 2012, but pointed out that iron ore shipments out of its Pilbara port remain at record levels
CIT loan backs Alterna deal PRIVATE equity group Alterna Capital Partners has secured a five-year senior secured facility of $61
China tests polar route COSCO Shipping is today beginning the first test sailing of a Chinese cargo ship over a 2,936nm polar route to Europe
Modec raises forecast MODEC, the Japanese floating production systems contractor, today increased its forecast for 1H13 profits by 42.5% to ¥5.7Bn ($59M)
SCS wins Tenaga deal SHANGHAI Changhang Shipping, the bulker-operating unit of Sinotrans & CSC, said today it has signed a $45M coal contract of affreightment with Malaysian electricity company Tenaga Nasional
China's commodity imports soared in July CHINA's commodity imports posted mostly double-digit rises in July, customs statistics showed today
Analysts Downplay Impact of Colombo's New Container Terminal The opening of a new container terminal at Colombo in Sri Lanka, designed to attract transshipment traffic, is unlikely to have a serious impact on the dynamics of liner shipping in the Indian Ocean, analysts say. The $500 million Colombo International Container Terminal started operations Monday. With its deep draft and...
Study: Deficient Language Skills Hurting New Zealand Exporters New Zealand exporters are operating at a serious disadvantage because of a lack of language and cultural awareness skills, according to a new study. The DHL Express NZ exporter survey found that exporters faced serious business challenges because, where English is not the primary language of the market they export to,...
Master Plan Approved for Port of Los Angeles The Los Angeles Board of Harbor Commissioners today approved a new port master plan, updating the Port of Los Angeles's development policies and procedures for the first time in more than three decades. The new plan incorporates previous amendments and anticipated future changes to the use of property within the coastal...
CEVA's Profit Up, Revenue Down in Second Quarter CEVA Holdings today reported net income in the second quarter of 2013 of $197 million, up from $106 million in the second quarter of 2012. The gain was partially driven by a debt exchange transaction and the reversal of accrued interest expenses of $93 million that had been waived as part of...
It's Really Happening: Customs' ACE Nears the Home Stretch WASHINGTON - It's still more than three years away, but completion of Customs and Border Protection's long-delayed major cargo-processing system appears to be in sight. The agency plans on fully implementing the Automated Commercial Environment on Oct. 1, 2016, but that's largely dependent on Congress giving Customs roughly $420 million to finish...
US Customs Releases Schedule for ACE Deployment U.S. Customs and Border Protection has released a schedule for completing trade processing capabilities in its automated commercial environment by the end of 2016. ACE consolidates, automates and modernizes border processing, and when complete, will provide a single access point to connect the trade community with Customs and partner government agencies....
CSX Purchases Phosphate Export Facility in Florida CSX has acquired Eastern Associated Terminal in Tampa, Fla., from Ingram Barge. The phosphate export facility is adjacent to CSX Transportation's Rockport terminal on Tampa Bay, and the combined entity will be called Rockport Terminals. The deepwater port facilities on Tampa Bay will be used for exporting phosphate from Central Florida's Bone...
Rising Profits Power Swift Purchase of Central Refrigerated Swift Transportation, the nation's largest truckload carrier, expanded its refrigerated freight business by acquiring Central Refrigerated Service. Swift, a $3.5 billion company, paid $189 million in cash and assumed $36 million in capital lease obligations to acquire the $453 million temperature-controlled carrier. The acquisition gives Swift "immediate scale" in what the carrier...
Trucking Federation Honors YRC Worldwide's Kelley with Halladay Award Arlington, Va. - During their recent annual meeting the Trucking Association Executives Council honored J. Michael Kelley, chief sustainability officer and vice president of external affairs for YRC Worldwide Inc., with the distinguished J.R. "Bob" Halladay Award for his long time dedication to, and continued support of, the TAEC. The Halladay Award, named...
AirCargoGroup (ACG) joins Global Project Logistics Network (GPLN) as a main vendor sponsor to provide Global Wholesale Airfreight Services 05 August, 2013 The Global Project Logistics Network is the largest and most recognized, non-exclusive, projects logistics network specializing in international project movements and specialized lifts. www.gpln.net "It is a win-win partnership, our enrolment to GPLN allows our offices access to the world of Projects and Heavy lift professionals, while ACG can now...
AVEVA explains how 3D laser scanning can help shipyards survive the downturn Manchester, UK - 8 August 2013: AVEVA today announced its publication of a new business paper - 'On the Beam: How 3D laser scanning technology brings new opportunities in ship refitting and conversion'. In this paper, AVEVA examines how rapid, accurate and non-intrusive 3D laser surveying can increase shipyard capabilities to meet the coming surge...
Matson's Profit Soared in Second Quarter Matson reported net income of $20.1 million for the second quarter of 2013, a jump from $7.8 million in the second quarter of 2012. Quarterly revenue for the Honolulu-based ocean carrier and logistics company was $416.6 million, increasing from $394.2 million in the same period last year. "We had another solid quarter, driven...
FMCSA Clarifies 'Short-Haul' Exemption to HOS Rules Following a federal court decision, regulators say they will "immediately" cease enforcing a rule requiring short-haul truck drivers to take daily 30-minute breaks. A federal appeals court Aug. 2 struck down the break requirement in new truck driver hours of service rules - but only for short-haul trucking operators. Other commercial truck...
Flatbed Hauler Daseke Buys Central Oregon Truck Daseke expanded its network of flatbed and specialized trucking companies by acquiring Central Oregon Truck Co., a Redmond, Ore.-based flatbed hauler. The acquisition of Central Oregon Truck follows the addition of Gaffney, S.C.-based carrier J. Grady Randolph in May. Terms of the transaction were not disclosed. "Central Oregon Truck Co. is truly...
Q&A: Brokers' Higher Bond Worth Its Weight? Q: We're a small motor carrier 3PL, and we're very concerned about the new broker bond requirement in the so-called Moving Ahead for Progress in the 21st Century Act. Under the law, brokers will need to carry a $75,000 bond as of Oct. 1, 2013, the effective date of MAP-21. That's...
Economou on stage DryShips may be forced to raise as much as $230m between now and 2014 to shore up its balance sheet if the shipping industry fails to stage a meaningful recovery, according to chairman and chief executive George Economou.
Signal sued again Five more lawsuits have been filed against US shipyard Signal International alleging human trafficking of Indian temporary workers.
TEN teams with Jefferies Tsakos Energy Navigation of Greece is looking to offload 4 million shares in a bid to raise the cash it needs to reduce debt and pursue ship acquisitions.
'Nothing terrible' Commerzbank continued to be plagued by provisions on its shipping book in the first six months of 2013.
Safe bulker locked in Safe Bulkers has found fresh period employment for one of its panamax bulkers.
TGP posts profit Teekay LNG Partners watched its bottom line climb in the second quarter but the result was overshadowed by a dip in distributable cash flow.
TNK loses more New York-listed Teekay Tankers has posted a bigger second-quarter deficit as its revenue declined.
Teekay Corp loss grows Teekay Corp sank deeper into the red than Wall Street feared during the second quarter.
Ardmore adds MR double Ardmore Shipping Corporation is splashing some of its IPO cash on two optional products tankers at SPP Shipbuilding in South Korea.
Western Bulk goes Greek Ariston Shipping of Greece has announced a new charter for one of its bulkers.
Northern clubs to unite A merger that will create a substantially bigger force in the marine insurance market is planned by the North of England Club, already the second biggest of the protection and indemnity clubs and top fishing industry mutual Sunderland Marine.
Siem in $2m scrap pact Siem Shipping has thrown its least efficient vessel on the scrap heap.
SCI loss grows Shipping Corp of India (SCI) has seen its loss grow in the first quarter as revenue fell away.
Pacific beats Street Pacific Drilling has turned in a stronger than expected set of second quarter numbers.
HSH puts up ports cash Germany's HSH Nordbank has continued to plough money into the ports sector with a new deal in the Netherlands.
Ill crew flown home Two crew who fell ill on TMT's stranded aframax Iron Monger 3 have been flown home to India from the UAE.
Dry scrapping sliced Dry-cargo demolition has dropped by over 50% this year, according to the latest data from Braemar.
GE splashing the cash India's Great Eastern Shipping will spend up to $46m on a share buy-back as its first quarter profit jumped.
10 years later... Denmark has brought in a salvor to remove the last of the oil from a Cosco bulker that sank in 2003.
Modec expects more Favourable currency movements have led Modec to hike its full year profit forecast by a quarter.
TUI cruise loss jumps The cost of launching a new ship and a vessel fire have sent losses soaring at German cruise player TUI.
Shipping spurs WW ASA Wilh Wilhelmsen ASA has surprised investors with a stronger than forecast second quarter performance.
Dof prolongs pipe-laying Norway's Dof has extended a charter for a pipe-layer in Brazil by two years.
Majority back Yinson Nearly three-quarters of the investors In Fred Olsen Production (FOP) have backed a takeover by Malaysia's Yinson Holdings.
Costs dent SBM Offshore SBM Offshore has reported a weak set of second quarter results with profits down almost 90% on a year ago.
EMAS wins Gabon gig EMAS AMC, the subsea services division of EMAS, the vessel brand of Ezra Holdings, has won a $120m contract from Gabon.
OOIL posts interim loss OOIL, the parent of Hong Kong liner giant OOCL, has posted a surprise loss for the first six months of 2013.
Eagle back in the red Eagle Bulk Shipping has returned to the red in the second quarter following its profitable first three months of 2013.
CBP shifts program managers, Gina to retire The retirement of Al Gina, assistant commissioner for international trade, was among several personnel moves announced Thursday by U.S. Customs and Border Protection Deputy Commissioner Thomas Winkowski at COAC.
FMCSA officially removes break provision from HOS The change in the agency's rules mirrors the result of a court opinion passed down on Aug. 2, which said drivers who operate within a 150-mile radius of their reporting location do not have to abide by the rest requirement.
OOIL's outlook: 'Margins to remain thin and volatile' Orient Overseas (International) Ltd. (OOIL), parent company of container liner company OOCL, said it had a loss of $15 million in the first half of 2013 compared to a profit of $117 million in the first half of 2012.
U.S. Customs creates toll free number for CEEs
Chiquita saves from shipping reconfiguration The banana shipper, which operates Great White Fleet, reported in its second quarter results that reconfiguration of its European shipping system, initiated in the third quarter of 2011, provided more than $12 million in savings.
Obama talks ports on Leno show
July U.S. import volume reaches 6-year high
Freight shipments down, expense up in July
Matson says Hawaii volumes up modestly
Cargolux, unions agree on CWA
Cargo Airport Services buys IAS
New head at AirBridgeCargo
Maersk sells drayage company
October date penciled in for CBP's Trade Symposium
Technology firm's scrubber monitoring system gains ground Emsys system has the capability to measure multiple gases including SOx, NOx, CO2, CO, CH4 and PM.
Mixed outlook across region Prompt supplies could be affected by public holiday in Fujairah.
Weaker pricing seen across bunkering hubs Prices easing across the board.
Newly listed shipping company makes tanker order Irish company raised over $100 million from the capital markets.
Indian ship arrest reaches conclusion Korean traders were out-of-pocket for over a year.
SCI runs to quarterly loss Bigger loss compared to a year ago despite falling costs.
Norwegian marine tech companies tie the knot Research firm acquires marine equipment maker.
Asian bunker prices fall Offices in Singapore closed for public holiday.
O.W. Bunker expands Tolson's role Appointed Regional Manager for company's North American operation as it looks to expand.
Rand Logistics profits down on lower fuel costs Company made downward adjustments to fuel surcharges.
OOIL in the red for H1 High bunker costs among challenges faced in the first half, chairman says.
Matson quarterly profit surges Revenue also up.
Fuel-saving ship in service on the Great Lakes The Thunder Bay uses 15% less fuel and releases fewer emissions.
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