Bourbon signs $1.5Bn leaseback deal OFFSHORE vessel operator Bourbon has reached agreement with China's ICBC Financial Leasing on a $1.5Bn leaseback arrangement for up to 51 supply vessels
US dock accord ratified DOCKERS voted to ratify a six-year contract with container liners and box terminals at ports on the US East and Gulf coasts
Europe stalls recovery WEAK economic development in Europe is holding back the global shipping market recovery, a senior analyst has told Fairplay
Guangdong group to issue $113M in notes CHINA'S government-owned Guangdong Provincial Navigation is to issue 700M yuan ($113M) in medium-term notes on 15 April, Beijing said
February box volumes fall to 12-month low CONTAINER throughput fell to a 12-month low in February, UK consultancy Container Trade Statistics said today in its monthly report
Captain quits stranded ship THE CAPTAIN has abandoned a South Korean bulker stranded at Chennai's outer anchorage since February 2010
COSCO Shipping's general cargo totals rise SHANGHAI-listed COSCO Shipping said it transported 451,000 tonnes of general cargo in March, up by 188,000 tonnes and 71.4% from March 2012
Nordic acquires stakes in 4 Clipper tankers NORDIC Tankers said today it has acquired a stake of about 46% in four S-type, stainless-steel chemical carriers
BIMCO: front/back box balance is improving BIMCO said today balance has improved between the box sector's front and backhauls since the shipping downturn began
Drybulk snarls easing CONGESTION in drybulk ports fell further as fewer ships waited to load iron ore and coal
KG restructuring hopes dashed GERMAN KG house Dr Peters has thrown in the towel on financial restructuring of six one-ship KG companies, instead filing for preliminary insolvency proceedings
Newcastle exports slump EXPORTS of coal from Port Waratah Coal Services dropped by 16% for the week ending 8 April, Newcastle's port said today
Odfjell-NCC pool axed ODFJELL Tankers and Dubai-based National Chemical Carriers are dissolving their 18-ship pool
VLCC demand stymied LOWER US crude imports and the tonnage overhang has caused VLCC demand has ground to a halt, BW Group CEO Andreas Sohmen-Pao has told a Singapore conference
US 'Not Ready' for Traffic From Bigger Panama Canal WASHINGTON, D.C. - The debate over U.S. infrastructure funding surfaced at a Senate hearing on the expansion of the Panama Canal today, with speakers noting the broad impact the bigger canal would have on U.S. ports, shipping lines, railroads and truckers. The $5.25 billion widening and deepening of the canal will affect...
Australia's Food Export Value Highest in Decade Australia's food exports reached A$30.5 billion (about US$32.2 million) in the last financial year, which is the highest value in a decade, according to the Australian Food Statistics Report 2011-12. The value is an increase of more than 12 percent year-over-year, said Joe Ludwig, Australia's Minister for Agriculture, Fisheries and Forestry....
Port of Seattle Rolls Out RFID Clean Trucks Program The Port of Seattle and its container terminal operating tenants have launched a radio frequency identification tag program in support of the port's Clean Truck Initiative. The program rollout involved more than 2,000 truck gate moves a day with less than 2 percent of all port registered trucks reporting issues, and...
Union Pacific's New Service Union Pacific Railroad has introduced the first and only dedicated intermodal rail service between Port of Houston Authority's Barbours Cut Container Terminal, and Union Pacific's Dallas Intermodal Terminal facility, located 12 miles from downtown Dallas in the city limits of Wilmer, TX. The central location of this rail facility and...
FleetLocate Adds Trailer and Asset Tracking for Small and Medium-Sized Businesses with Local Fleets Spireon, the leading innovator of Mobile Resource Management (MRM) and Business Intelligence Solutions that connect companies to their mobile assets and workforces, has added the FL11Z, FL11Z-EQ, and FL700Z - new trailer and equipment tracking devices to its FleetLocate Local Fleet product line designed for small and medium sized businesses...
OOCL Orders Green Vehicles for Long Beach Container Terminal OOCL has ordered 72 battery-powered Terex Gottwald automated guided vehicles, as well as fleet management software and a battery-changing station for the AGVs from Terex Port Solutions. The automated container-handling equipment will be used in OOCL's Long Beach Container Terminal in California. The new terminal is currently being constructed by combining...
Hampton Roads Chassis Pool Updates Option 2 Program Hampton Roads Chassis Pool has started implementing an update to the Option 2 program that enables ocean carriers to stop providing chassis in the Port of Virginia. The technology used by HRCP, IAS ChassisManager, has undergone a product update that adds new features, simplified processes and new ocean carrier functionality. Updates...
Union Pacific Launches Houston-Dallas Intermodal Service Port of Houston's Barbours Cut Container Terminal.Union Pacific Railroad has introduced an intermodal service between Barbours Cut Container Terminal at the Port of Houston and Dallas. The Texas Shuttle service will be offered two days per week in each direction. The Class I railroad's Dallas Intermodal Terminal facility is located 12 miles from...
Port of Corpus Christi Approves TIGER Grant Terms for Railyard Port of Corpus Christi's commissioners have approved the grant agreement with the Maritime Administration, which outlines the terms and conditions for the use of the funds. In June 2012, the U.S. Department of Transportation awarded a $10 million Transportation Investment Generating Economic Recovery (TIGER) grant for the port's first phase of...
Stakeholders React to Obama's 2014 Budget The National Association of Manufacturers has expressed disappointment regarding President Obama's 2014 budget. "The president's budget is based in the misguided assumption that tax increases can solve our fiscal problems," said Dorothy Coleman, NAM's vice president of tax and domestic economic policy, in a written statement. "In fact, a $580 billion...
Obama's 2014 Budget Allocates $76.6 Billion for DOT President Obama's 2014 budget proposes a total of $76.6 billion in discretionary and mandatory funding for the Department of Transportation, which is an increase of 5.5 percent, or $4 billion, compared with the 2012 enacted level. The budget would: Allocate $40 billion for a planned five-year rail reauthorization proposal to upgrade the...
Canadian Shipowners Association Questions EPA Vessel Permit The Canadian Shipowners Association has expressed concern regarding a permit published by the U.S. Environmental Protection Agency, saying that it could threaten the commercial viability of its members' ships and have an impact on the operations of the industries they serve. The EPA's vessel general permit applies to the discharge of...
Cosco Belgium to Begin Maiden Voyage From Port of Hamburg The first of eight new 13,380-TEU Cosco container ships.Germany's Port of Hamburg will receive a call from the first of eight new 13,380-TEU COSCO container ships. The Cosco Belgium will be berthing in Hamburg at Container Terminal Tollerort on April 11. Operating under the Hong Kong flag, the vessel is 366 meters...
Tariff Filing Replacement Unpopular With NVOs, Survey Finds RANCHO MIRAGE, Calif. - Cargo consolidators worked tirelessly several years ago to free themselves from the requirement of filing tariffs with the Federal Maritime Commission, but only about 25 percent of non-vessel-operating common carriers today are making use of negotiated rate arrangements, which are meant to replace tariff filing. While recognizing...
Survey: Majority of Shippers Plan to Shift Modes in 2013 Shippers say they commonly use collaboration and technology, along with shifting modes, to move freight through their corporate supply chains, according to a "Freight Transportation 2013" study by the National Shippers Strategic Transportation Council, which explored shippers' perspectives on emerging trends in U.S. freight transportation. Based on responses by transportation...
Accellos Names Asia-Pacific Sales Director Accellos has appointed David Dick as director of Asia-Pacific channel sales. Dick has more than 12 years of experience in sales, marketing, product management, business development and product services management for supply chain software technologies. Prior to joining Accellos, a Colorado-based supply chain execution software solutions provider, Dick was with Translogix...
Cost of Somali Piracy Dropped in 2012 The cost of Somali piracy to the global economy in 2012 dropped 13 percent year-over-year to about $6 billion, as navies and private armed guards stepped up their presence to prevent attacks, according to One Earth Future Foundation, Bloomberg reports. Hijackings dropped 50 percent, and attempted attacks decreased more than 70...
Hapag-Lloyd to Hike North America-Australia Rates Hapag-Lloyd will increase rates on its trade from the west coast of Canada and the U.S. to Australia and New Zealand, starting June 1. The hike will be $200 per 20-foot container and $400 per 40-foot container. Hamburg Süd has also announced a June 1 increase on this trade lane....
Hamburg Süd to Raise North America-Australia Rates Hamburg Süd will hike rates for all cargo moving from the west coast of the U.S. and Canada to Australia and New Zealand, effective June 1. The container line said the increase will be $200 per 20-foot-equivalent unit. Hapag-Lloyd has also announced a June 1 increase on this trade lane....
Maersk Announces Rate Hikes for May Maersk Line will increase rates on some its trade routes in May: Starting May 1, from the Mediterranean to the Far East, the increase will be $150 per 20-foot, 40-foot, 45-foot high-cube dry container, starting May 1. From Syria to Far East, the hike will be $115 per 20-foot, 40-foot, 45-foot...
Seadrill ups the ante Norwegian rig operator Seadrill has secured a 66.23% stake in Asia Offshore Drilling (AOD).
Syndications slide in Q1 Nordea Markets unseated DNB as the shipping and offshore industry's leading lender in the first quarter, according to data released by Dealogic.
Enrollment on the rise Chartworld, OptiNordic Shipping of the UK, Expedo Shipping of Monaco and STX Pan Ocean have committed tonnage to Heidmar's fleet of crude and products tankers.
Shih Wei profit cut Bulker group Shih Wei Navigation endured a tougher 2012 as earnings and revenue shrank.
Backing Pavilion Temasek's decision to plough $800m into the LNG trade has received a warm welcome from shipping analysts.
Crews hold out for hike Ferry crews working for Scotland's Orkney Ferries are sticking to work-to-rule action as they press for a wage rise.
Diana downed again Diana Shipping has been downgraded by a second analyst in as many weeks.
Maridive bags Qatar work Maridive & Oil Services of Egypt has bagged a $24m contract subsea work in Qatar.
Petronet eyes bigger slice Indian importer Petronet LNG plans to move further into shipowning by taking a 26% stake in its next newbuilding.
SCI eyes dredgers Shipping Corporation of India (SCI) is aiming to break into the dredging market.
Siem pens MRSV deal Siem Offshore has secured more work for an MRSV with Nigeria's Marine Platforms.
Meldgaard quits Herning The boss of Denmark's Herning Shipping has resigned to head back to Canada with his family.
Kate's first christening Kate Middleton is to get some early naming practice ahead of the birth of the royal baby this summer.
Vard to net $500m? Vard is on the verge of adding orders worth over $500m in the next few weeks, analysts say.
Crew out of action A suspected viral infection among a Scottish ferry crew has put paid to CalMac sailing from Oban.
Mipo turns it round Hyundai Mipo Dockyard of Korea has started to grow its orderbook as competitors have declined, according to Shinyoung Securities.
Crew flee "sinking" bulker The captain and crew of an arrested bulker have abandoned the vessel in Chennai, India, saying it is unstable and could sink at any moment.
Clipper clearout to go on Clipper Group is to continue offloading chemical carriers after confirming the sale of another four vessels.
Red Sea route launch France's CMA CGM is starting a new Asia to Red Sea loop next month.
Drunk master fined A drunk Russian master has been fined in the US, but was already in custody when his bulker broke its moorings and grounded.
Banks in at STX Korea's STX Offshore & Shipbuilding has agreed a joint management deal with its creditor banks as it seeks to restructure.
Yards bag Kepco capes Three Korean shipbuilders have been selected to construct nine capesizes for charter to Korea Electric Power Corp (Kepco).
Indonesian potential Indonesia's upstream sector is mature, but still holds huge potential, according to research organization Wood Mackenzie.
Cargill profits down 42% Cargill, the world's largest agricultural trader, has reported a 42% year-on-year decline in third quarter net profits.
KNOT ties up $160m KNOT Offshore Partners (KNOT) has sealed its IPO by selling 7.45m units at the top end of the price range of $21.
Total extends Scirocco Pacific Drilling has secured another year's employment for one of its drillships, the company confirmed Tuesday.
Dockworker strike continues in Hong Kong According to Hong Kong news reports, mediation talks between striking dockworkers and the contractors who employ them have "broken off without any immediate progress," as the strike at HKIT continues into its 14th day.
DHL increases Asian capacity DHL is planning to enhance its services in Asia, introducing additional widebody plane capacity for routes between Asia and the Americas and adjusting its intra-Asian network. The changes take effect later this month.
Obama's proposed 2014 budget targets transportation upgrades The president's budget proposal reserves $50 billion for upfront infrastructure projects, creates a program aimed at increasing private investment in infrastructure, and sets money aside to re-tool the nation's air-traffic control system.
Big COSCO ship calls Hamburg this week
Washington Notebook: DOT readies for TIGER V funding
Transportation impacts of JDA eight The release aims to unify supply chain planning, optimization and business analytics functions for deployment in the cloud, building on the announcement last summer by JDA CEO Hamish Brewer.
ILA members approve new 6-year contract Along with the master contract, local agreements at most ports along the Atlantic and Gulf coasts also were ratified by ILA members, including one with the NYSA. Negotiations are continuing in Baltimore, Philadelphia and Hampton Roads.
Steel firm to build plant, dock at Port of Corpus Christi
FMC reviews 15 OTI license applications
Adrian Steel invests in Kansas City
Corpus Christi moves forward on rail yard construction
Fuel efficient ships 'driving out older tonnage' But recovery in the shipping industry is 'out of the question', at least for this year.
Market stable in Fujairah Prices rising in Suez with major gains on MGO.
Prices show small movements in Rotterdam Tight avails reported in Piraeus.
Commodities trader sees profits fall Cargill has hundreds of ships on charter at any one time.
US dockers agree new contract Deal makes way for six-year agreement on working conditions.
'Quality product' from Iran impacts fuel oil markets Iranian fuel oil exports have been increasing despite Western sanctions.
Panama Canal could offer LNG bunkering Canal Authority is studying ways to exploit an expected growth in traffic.
On-board lube testing: Castrol has concerns Lube manufacturer says concerns over corrosion have led it to question scavenge drain oil analysis techniques.
Bunker prices in Asian hubs show little movement Prices in Singapore stable.
LNG no-go for Badger Old coal-fired steamship will not be converted to run on LNG after all.
ABS expands operations in Singapore Helps develop LNG bunkering at the republic, while launching the Singapore Innovation and Research Center.
Lukoil-Bulgaria offering more HFO grades in Varna, Burgas Container carriers and some modern tankers are demanding the products, it says.
2013 to be challenging year, says Vroon Decline result of low charter rates and high bunker costs.
Total to launch 'next generation' lubricant by 2015 New lubricant will offer 'flexibility, and simplicity', says Technical Director.
Owner of derelict barge sentenced for bunker spill Total of $22 million spent on cleaning up spill and salvaging Davy Crockett.
World's second hybrid ferry to be launched in May MV Lochinvar's engines supplied by Wartsila.
Wilhelmsen to expand operations in South East Asia To provide services, including fuel treatment, to non-OSV markets in region.
Philippine Coast Guard removing fuel from grounded vessel Move eliminates risk of fuel spilling during removal operations, says spokesman.
Shell: LNG quality increasingly important LNG quality varies and much of the world's supply would not be suitable for current engines.
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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