Petronas inks $850m deal for four LNG carriers Order, with additonal four options,goes to Hyundai Heavy Industries for 2016 delivery
No harmonised approach to P&I jurisdiction clauses Spanish case shows clubs may be wrong to rely on clauses in their rules
Ex BIMCO chief calls for return to box shipping conferences Unity would restore much-needed balance, says Skaanild
Seaspan axes common and convertible share offerings Move comes five days after announcement, as container operator says offering "not in the best interests of our shareholders"
China post-holiday blues hit capesize rates Clouds gather over country's projected steel demand
CSICL reports surge in offshore and defence orders State giant's flagship unit trims its reliance on volatile newbuilding markets
More owners could look to bonds, says Standard & Poor's Hapag-Lloyd issue could be a template for others
STX Pan Ocean cuts $225m from its orderbook Restructuring move is a blow for offshore and shipbuilding sister firm
Counting Syria's cargo losses Data highlights the mounting cost in lost shipments of three years of conflict
Spain emerges as an LNG exporter Europe's largest gas importer reshapes the world's trade routes
IPOs gain favour Weak capital markets drive an outbreak of shipping company listings
World's first freight derivatives settled in actual services SSEFC records more than 45,000 lots traded in first session
Unifeeder chief seeks consolidation in sector Kristensen sees move as logical response to network concentration of major box carriers
Port equipment body releases guide to box weighing technologies PEMA paper provides information about accuracy of port-based systems
Genco's Baltic Trading seeks secondhand tonnage Operator pledges up to $120m to target dry bulk vessels for spot market
Majestic Maersk makes impromptu UK call Felixstowe welcomes biggest boxship yet to call in the UK
Unifeeder switching Hamburg shortsea volumes from HHLA to Eurogate But Altenwerder, Burchardkai and Tollerort could still receive operator's box feeder traffic
Dynagas LNG Partners files for $150m IPO Prokopiou firm heads for Nasdaq with its first three ships
CMA CGM and MSC latest to unveil Asia-Europe void sailings CMA CGM also announces November rate increase for the trade lane
Cargo supply alarm gives LNG a rude awakening Supply targets are overambitious, Informa LNG Global Congress is told
Qatargas signs five-year deal to ship LNG to E.ON Global Commodities Cargoes will be carried on Shell-managed fleet of Q-Max vessels
TMT wins another nod from US district court Ruling reaffirmed over use of Vantage Drilling shares as collateral in Chapter 11 case
Navig8-Oaktree venture builds chemical tanker fleet Newbuilding deal for six 37,000 dwt ships and options for at least six more
More box alliances seen THE P3 ALLIANCE proposed involving Maersk, MSC and CMA CGM will be followed by more liner co-ordination, a Maersk Line representative has predicted
Russian watchdog investigates bunker sector RUSSIA'S competition watchdog told Fairplay that it has opened an inquiry into the country's bunker market
Box sailings pared on weaker demand MAERSK Line, CMA CGM and the G6 Alliance will blank out several Asia/Europe sailings, in line with weaker expected winter demand
Dynagas launches $150M IPO GREEK ship owner George Prokopiou has launched a NASDAQ initial public offering for Dynagas LNG Partners, with proceeds estimated at $150M
Anti-smuggling Ecuador scanning planned ECUADOR plans to spend $74M on container-scanning equipment to detect smuggling, IHS Global Insight reported today
China shipping sector prospers 'slightly' CHINA's confidence in its shipping sector rose in 3Q13, according to the Shanghai International Shipping Institute
China grain imports fall further BEIJING said grain imports fell 28% year on year to 7.2M tonnes from January to August
Keppel wins $240M rig order SINGAPORE'S Keppel O&M said today it has won a contact from Mexico's Central Panuco SA De CV to build a KFELS B Class jack-up rig worth $240M
Caribbean pricing pressure seen rising PANAMA Canal expansion has been promoted as a boon to the Caribbean, but there will also be downsides, CFS executive VP Tom Paelinck has warned
Zhenhua wins $469M in contracts SHANGHAI-listed Zhenhua HI said today it has won RMB2.87Bn ($469M) worth of contracts with three port groups
Cebu disaster owner refuses fine THE OWNER of the sunken ro-pax St Thomas Aquinas, 2GO Travels, has reportedly refused to pay fines of about 41.7M pesos ($1M) ordered by environment authorities in the Philippines
Shin Yang sets up Indonesian unit MALAYSIAN shipowner and builder Shin Yang Shipping has set up a 99.5%-owned subsidiary in Indonesia, with a paid-up capital of $500,000
Navig8 orders six chemical tankers at HMD TANKER pool operator Navig8 has ordered six 37,000dwt chemical tankers at Hyundai Mipo Dockyard, Fairplay has learned
TEPCO preaches global gas price convergence TOKYO Electric Power is pushing for global gas prices to converge, allowing Asian gas importing nations to enjoy competitive pricing
SMM grabs cruise ship project SINGAPORE's Sembcorp Marine said today it has secured a project to upgrade cruise ship Diamond Princess, owned by US-based Princess Cruises
Trade Tech Opens New Office in Tokyo Trade Tech, a cloud-based solutions provider for the logistics industry, has opened a new office in Tokyo to support customers in Japan and the surrounding region. In addition to general software sales and support, the office, which is near the Port of Tokyo, will provide assistance to non-vessel operators, forwarders and...
Intermodal Service to Link Hazira Terminal With North India Adani Hazira Container Terminal and state-owned rail operator Container Corp. of India have reached an agreement to ensure an intermodal route connecting Tughlakabad and Dadri, two major hinterland points near Delhi, with Adani Hazira Port through Ankleshwar, an inland container depot in Gujarat. "With this arrangement, shipping lines as well as exporters...
First Sale of Leased LA-LB Clean Truck to Independent Contractor Five years after the ports of Los Angeles and Long Beach launched the industry's most comprehensive clean-truck program, a father-son driver team became the first independent contractors to purchase an environmentally compliant truck off of lease. The event is significant for other U.S. ports because it confirms a business model in...
Zenith Global Logistics Relocates Maryland Facility Zenith Global Logistics' new Aberdeen hub.Zenith Global Logistics has relocated its Elkton, Md., freight hub to an Aberdeen, Md., facility. The new hub totals 88,000 square feet, expanding the specialized furniture carrier and third-party logistics provider's square footage by 300 percent. "This new location was chosen strategically and specifically to enable our...
The JOC Top 30 US Containerized Trade Partners Mainland China accounted for 10.9 million 20-foot-equivalent units, or 36.4 percent of the nearly 30 million TEUs in U.S. containerized trade in 2012. Volume to and from China was up 2.6 percent year-over-year and 8 percent above pre-recession 2008. That compares to 1.5 percent growth year-over-year in overall U.S. laden...
American Airlines' Cargo Volume Up 7.5 Percent in September American Airlines' cargo volume year-to-date. Full-size image The parent of American Airlines, AMR Corp., reported September cargo figures for its principal subsidiary, showing an increase to 146,690 million ton miles, up 7.5 percent from 136,463 million ton miles reported in September 2012. For the first nine months of 2013, ton miles dropped to...
PortMiami Receives New Super-Post-Panamax Cranes PortMiami's new super-post-Panamax cranes departed from Shanghai in July.PortMiami has taken delivery of four new super-post-Panamax cranes to handle the new generation of mega-ships that will begin passing through the Panama Canal in 2015. Director Designee Juan Kuryla; Miami-Dade County Commission Chair Rebeca Sosa; Biscayne Bay Pilots Association Chairman, Andy Melick;...
Royal Mail IPO a Hit With Investors The initial public offering of Royal Mail was seven times oversubscribed with more than 700,000 investors applying for shares in the U.K.'s 497-year-old, state-owned postal company. The shares will be sold at 330 pence (about US$5.20), at the top of the government's price range, valuing the firm at £3.3 billion (about...
Hub Group Cuts Guidance for Third Quarter Hub Group has lowered its expectations for the third quarter of 2013 to a range of 48 to 51 cents diluted earnings per share. The company said its quarterly earnings are being affected by a "challenging" intermodal pricing environment, resulting in price increases that were lower than anticipated; "unfavorable" intermodal traffic...
Russia Ends Extra Border Checks on Lithuanian Trucks, But Trade Tension Mounts Russia today ended supplementary border checks on Lithuanian trucks imposed a month ago amid rising tensions over the European Union's bid to forge closer trade relations with ex-Soviet republics. The Russian Federal Customs Service said the move was in response to a reduction in the number of border violations by Lithuanian...
AMP Americas Strikes Deal With National Dairy Cooperatives To Haul Milk With Compressed Natural Gas CHICAGO, Oct. 9, 2013 /PRNewswire/ -- Continuing to pave the way in transitioning trucking fleets from diesel to compressed natural gas (CNG), AMP Americas announced today that it has signed a deal with Dairy Farmers of America (DFA) and Select Milk Producers, both national dairy cooperatives, to convert a portion of their diesel needs...
Finnair Appoints Globe Air Cargo in Singapore Finnair has appointed Globe Air Cargo as its general sales and service agent in Singapore. The new contract gives Globe Air Cargo responsibility for sales and marketing on the airline's Airbus A340 passenger flights from Singapore to Helsinki. Freight forwarders in Singapore can also achieve fast connections via Helsinki to Finnair's...
Radiant Logistics Executive Bart Wilson Tapped As Chairman Of The Arizona Trucking Association BELLEVUE, Wash., Oct. 9, 2013 /PRNewswire/ -- Radiant Logistics, Inc. (NYSE MKT: RLGT), a domestic and international logistics services company, today announced that COO Bart Wilson of Radiant Logistics' dedicated line haul network, On Time Express, Inc. ("On Time"), has been elected as Chairman of the Board of Directors for the Arizona Trucking Association...
TIACA Calls For 2014 'Hall Of Fame' Award Nominations The International Air Cargo association (TIACA) is seeking air cargo industry nominations for its 2014 Hall of Fame Award. The award has been presented annually since 1997, recognizing business leaders whose contribution to the growth and development of the industry deserves to be recognized for its innovative spirit, leadership and achievements....
FESCO, Korea Marine Transport Sign MOU FESCO and Korea Marine Transport sign MOU.R. Alikhanov, president of FESCO Transportation Group, and J.S. Park, president of Korea Marine Transport, have signed a memorandum of understanding to determine the principles of joint work, terms and conditions through the end of 2016. Russia's Commercial Port of Vladivostok, part of FESCO,...
Shutdown patch prepped A US lawmaker has introduced legislation aimed at preventing the ongoing government shutdown from hitting the academic year at the lone federal merchant marine academy.
Seacor seals MR fixtures Seacor Holdings of the US appears to have secured employment for two medium-range (MR) products tankers that are under construction at General Dynamics NASSCO.
All eyes on MATX Wall Street appears to be growing increasingly interested in the timing of a $400m newbuilding order that a US containership owner intends to place at a domestic yard before year-end.
LSC sells oldest ship Lithuanian Shipping Company (LSC) is offloading its oldest ship, a 1985-built multipurpose (MPP).
Yards eye Pemex orders Spanish shipyards Navantia and Barreras have teamed up to bid for a contract to build flotels for Mexico's Pemex.
Green light for FreeSeas FreeSeas has received approval for a deal that will chop its outstanding debt by around one third.
Tow trouble The harbour master of Chittagong in Bangladesh has been suspended for ignoring orders and bringing a disabled boxship into the port.
Capes take a breather Capesize rates dropped by more than a tenth today as owners lowered their expectations in order to take the still profitable work available.
Stina in the clear No drugs have been found on a Swedish reefer detained in Martinique for more than two weeks.
Procopiou going public George Procopiou's Dynagas has revealed plans for a $150m IPO in the US.
Indians only, please Foreign investors have been barred from buying any more shares in Great Eastern Shipping after an ownership limit was passed.
KDB readies STX sale Struggling Korean group STX's European shipyards look set to be sold off before the end of this year.
Monarch keeping pace Monarch Alternative Capital remains on the coattails of Oaktree as a dominant outside shareholder in Star Bulk Carriers.
MISC seals $1bn Malaysia's MISC has secured a long-sought after $1bn refinancing loan, according to credit ratings agency Standard & Poors.
STX PO saves $225m in newbuild cull Korean owner STX Pan Ocean has announced $225m of newbuilding cancellations as it continues to restructure.
Mipo close to a ton Hyundai Mipo Dockyard is closing in on a century of newbuilding orders this year after securing a series of six chemical tankers from Navig8.
Dockwise wins Costa job Dockwise has won the contract to transport the wreck of the Costa Concordia to its eventual scrapping location.
Syria calls plunge Bulker calls to Syria have plummeted by 80% in six months as its civil war drags on.
Formosa Falcon refloated The Taiwanese tanker Formosa Falcon has been moved to deeper water off the Bahamas after a successful lightering operation.
Martifer in pole position Portugal's Martifer group is the preferred bidder in the race to rent struggling domestic shipyard ENVC.
Svitzer loses Rena case Svitzer has reportedly lost a court case in New Zealand over a disputed charter hire of a fuel barge.
Bordelon fixes PSV Bordelon Marine has secured a term charter for the first of a series of PSV newbuildings it has under construction.
SATS grows cruise arm SATS Airport Services has expanded its cruise footprint with the acquisition of the Singapore Cruise Centre.
Comdata releases next version of FleetAdvance tool
Pacific Seaways, Seatrade combine Chilean activities The companies have joined forces to establish Global Reefers NV, which they say will offer "the most efficient service on specialized reefers and container lines from Chile, Peru and Colombia to the world."
Analysis: Shippers asking for a seat at the table? When Emirates announced earlier this year that it was changing the way it calculates surcharges, essentially raising the prices for customers, shippers worldwide expressed distaste at what could soon become a trend in the industry.
Changes coming to transpacific services MOL has announced changes on New World Alliance services in the transpacific. Sailing days and transit times are being changed on the PCX service and PNW/PS1 services are being combined into a single loop.
UPS starts U.S.-Mexico ground service
Canadian pension fund invests in European logistics Logistics property investor and developer Verdion has entered into an agreement with the Healthcare of Ontario Pension Plan (HOOPP) to fund and develop logistics parks in Europe valued at over 1 billion euros over the next five years.
Mixed avails in Fujairah Distillate prices soft in South African ports.
Prices move little in Europe 380 cSt material in Istanbul down by $6.
Don't forget ... a FREE Environmentally Acceptable Lubricant Two thirds of the world is covered in it - the most obvious and compliant EAL is right under our noses - Seawater.
Russian bunker players challenge 'dishonesty' slur Association of Russian bunker players hits back at suggestions that market should be in the hands of country's oil majors.
VGP-compliant seal ring arrives on market Wartsila product has longer life than conventional seal rings.
New company active in Hamburg Independent player focusing on the supply of distillates.
Seattle-based cruise ships 'prime candidates' for scrubbers Alaska cruise routes carrying 'disproportionate burden' of ECA regulations.
Fuel oil stocks maybe higher than latest figures suggest More product being held in floating storage.
Biogas an option for Samso ferry Port aims to be fossil-fuel free by 2030.
Bunker prices movements mixed at major Asian ports Supplies mixed at Singapore port on Thursday.
Offshore bunkering returns to Russian ports But only under certain conditions.
South China fuel oil production up on month Volume will be up 8,000 mt in October when compared to September figures.
Buckeye acquiring Hess terminal network Deal for terminals on US East Coast and in Caribbean worth $850 million.
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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