Underwriters expand West Africa high-risk area to Togo Critics say Joint War Committee decision does too little and comes too late
Risky business Extending a high-risk area can carry a cost for shipowners
Oceanbulk and Oaktree confirm first boxships in HHI series Capital Maritime inks 9,000 teu pair at Managalia yard
Jefferies bullish on dry bulk recovery Demand outpacing fleet growth as new iron ore supply lanes are poised to launch from Brazil and Australia
McQuilling pours cold water over 'hot' prospects for product tankers Report questions the fashion for medium range tonnage
Smaller tanker companies play the spot market Companies show an instinct for survival
Forecast, pain Moody's predicts that many more owners will go under before shipping prospects brighten
Fresh flow of capital poses serious threat to shipping, says Morgan Stanley More finance makes for more ordering - and that could mean more pain for maritime
Samsung Heavy Industries secures $5bn offshore orders South Korean giant lands an FPSO, a drillship and two jack-up rigs
JNPT reopens box terminal tender July deadline for submissions to replace withdrawn PSA International concession
Italian owners launch supramax joint venture D'Amico and Coeclerici base new investment firm in Dublin
Paris MOU statistics show France-flagged vessels have fewest detentions Port state inspections in Europe reveal the best and worst national players
Idle boxship numbers fall Lloyd's List Intelligence data shows 276 containerships in hot and cold lay-up
Baltic Exchange issues guidance to brokers on capesize reporting New advice aims to better reflect the impact of slow steaming
Moody's retains negative outlook for shipping Industry aggregate earnings figure could fall 10% this year, analysis warns
Prepare for launch Maersk's first Triple-E ship is being made shipshape for a landmark occasion
Acquisition merges Norwegian lifeboat makers Fragmented industry consolidates as private equity firm buys big-name manufacturers
GMS linked to private equity takeover of König Source names US cash buyer as 'the third man' behind KG house recapitalisation
Nearsourcing: Homespun yarn or material change? Some in the container industry say that nearsourcing is a lot of hype about nothing. But a US drive to move manufacturing closer to home could unravel China's market share in some product groups and that could have shipping consequences
Big ships become a regular sight on the Pacific trades Panama and Suez canals vie for Asia-US services
MES-KHI talks halted KAWASAKI HI today reportedly halted merger talks with Mitsui Engineering & Shipbuilding - and demoted the prime mover in the negotiations, KHI's president
APMT explains plans at African ports APM TERMINALS confirmed to Fairplay today it invested more than $175M in Africa last year to address the tightening squeeze at the continent's ports
Asia powers pressurised gas shipping TIMECHARTER rates for pressurised gas carriers might rise because of tight vessel supply and intra-Asia LPG demand, the IHS Purvin & Gertz Asia LPG Seminar heard today
LPG export boom grows LPG EXPORTS are expected to keep mounting in the next few years, the IHS Purvin & Gertz Asia LPG Seminar heard today
Russia to raise rice exports RUSSIA was reported today ready to finance a push to ship up to 1M tonnes of rice per year for export to North Africa and the Middle East
GMS confirms König & Cie stake DEMOLITION buyer GMS invested alongside Delos and Tennenbaum in the recapitalisation of Hamburg KG house König & Cie, Fairplay confirmed today
22 mariners saved off swamped ship ALL 22 seafarers are safe today in Kochi after their dramatic rescue from their sinking general cargo ship in India
INTERCARGO urges better casualty reporting INTERCARGO, the London-based drybulk lobbyist, has urged that reporting of casualties become more clear, concise and consistent
France: nearest to blameless FRANCE had the lowest number of ship detentions among the Paris Memorandum of Understanding's flag states over the three years before 1 January
SHI bags $3Bn FPSO order SAMSUNG HI confirmed to Fairplay today it has won a $3Bn deal to build a FPSO for the Nigerian offshore market
Moody's remains gloomy GLOBAL shipping's outlook is likely to remain negative for at least a year, with EBITDA across the industry falling this year, Moody's Investors Service said today
Japan shuns spot import cargoes of LPG JAPAN is refraining from spot LPG purchases because VLGC rates are at a 2013 high
Seafarers electrocuted TWO FILIPINO seafarers have been electrocuted aboard the German container ship Adrian, vessel manager ER Schiffahrt confirmed to Fairplay today
US fine hits 'K' Line FAILURE to report a hazardous condition has resulted in a $75,000 penalty for container operator 'K' Line
Europe-Asia Rates of CMA CGM Will Rise on July 1 CMA CGM will increase rates in its trade from North Europe to the Far East, effective July 1. The hike will be $150 per 20-foot container and $200 per 40-foot container. Mediterranean Shipping Co. will also boost rates from North Europe to Asia on the same date. CMA CGM will also implement a...
Long Beach Port Board Approves $942 Million Budget The Port of Long Beach's board of harbor commissioners has approved a $942 million budget for fiscal year 2013, up 12 percent compared to the fiscal year 2012 budget. The budget increase reflects the Port of Long Beach's rising investment in its facilities and infrastructure modernization, the port said in a...
Nicaragua Approves Pact With HKND to Develop Canal The Nicaragua National Assembly has ratified the government's commercial agreement with HKND Group to develop the Nicaragua Canal and Development Project, which could compete with the Panama Canal as another Atlantic-Pacific ocean link. The deal grants HKND Group exclusive rights for the planning, design, construction, operation and management of the Nicaragua...
Seaway Ports Optimistic Despite Drop in Cargo The St. Lawrence Seaway reported cargo shipments from March 22 to May 31 totaled 8.1 million metric tons, a decline of 12 percent year-over-year. Despite the slow start to the season, which began at the end of March, regional U.S. ports remain optimistic. "We're excited to dive deeper into the 2013 shipping season...
ATA Applauds Court Ruling on LA Port Trucking The American Trucking Associations has applauded the U.S. Supreme Court's decision today to reject two concession requirements in the Port of Los Angeles' clean-trucks program. "We are gratified that, at the conclusion of many years of litigation, the highest court in the land unanimously agreed with ATA on these rules," said...
Florida Industrial 'Megasite' Has Dual Rail Access Crawford Diamond Industrial Park, a 1,800-acre industrial site in Callahan, Fla., with dual Class I rail access, has received "megasite" certification from McCallum Sweeney Consulting. Crawford Diamond is owned by TerraPointe, the real estate subsidiary of Rayonier, and is a crossover for CSX and Norfolk Southern. Its certification ceremony was attended...
Maher to Open Saturday for Import Deliveries Maher Terminals has announced that it will be open for the delivery of import cargo on Saturday, June 15, from 8 a.m. to 4 p.m. at the Port of New York and New Jersey. The empty depot located at Columbia will also be open for the dispatch and receipt of...
TOTE, Inc.'s New LNG Containerships Receive Global Honors For Maritime Innovation FOR IMMEDIATE RELEASE -Princeton, NJ- June 7, 2013- On June 4, TOTE, Inc. became the first U.S. company to take home the Next Generation Shipping award at Nor-Shipping, the premier forum for the global maritime industry. The Nor-Shipping 2013 Awards recognize achievement in three different but very important areas - energy efficiency, innovative ship...
Court Ruling a Hitch in Port Attempts to Regulate Trucking Thursday's U.S. Supreme Court ruling rejecting two more concession requirements in the Port of Los Angeles clean-trucks program did not drive a stake into the heart of the port's attempt to regulate harbor trucking, but it made the task of any port attempting to follow such a strategy more difficult. The...
Delaware River Dredging About 60 Percent Complete A dredge vessel works to deepen the Delaware River's main channel during the early phases of the Delaware River Main Channel Deepening Project.The Delaware River Main Channel Deepening Project is now about 60 percent finished, following the completion of Reach D, an 11-mile stretch of the Delaware River's main shipping...
Canadian Intermodal Traffic Dips After-10 Week Climb Canadian rail volumes through June 8, 2013 Full-size image Canadian intermodal volume fell 3.3 percent year-over-year in the week ending June 8, following 10 weeks of increases, according to the Association of American Railroads. The two most recent previous weeks showed 20 and 30 percent jumps. Volume also inched down 0.4 percent from the week...
Virginia Port TEU Volume Up 7.2 Percent in May The Port of Virginia handled 191,368 20-foot-equivalent units in May, rising 7.2 percent or 12,784 units from May 2012. Export TEUs reached 103,217, up 5.4 percent year-over-year, while imports TEUs totaled 88,150, up 9.3 percent. Year-to-date, the port moved 878,412 TEUs, increasing 6.3 percent compared with 826,297 TEUs from January to May...
Supreme Court Rejects LA Drayage Mandates The U.S. Supreme Court Thursday struck down two more concession requirements in the Port of Los Angeles clean-trucks program, further weakening the ability of a port to regulate harbor trucking for environmental or other goals. The court ruled that the port's requirement that harbor trucks display designated placards while in service...
EU Takes China's Anti-Dumping Duties on Steel to WTO The European Union has requested consultations with China in the World Trade Organization concerning China's anti-dumping duties of 9.7 percent to 11.1 percent imposed on imports of high-performance stainless steel seamless tubes from the EU. Japan had already started a dispute settlement proceeding on the same measure addressed against Japanese products. The...
APM Terminals, Nigeria Officials Talk Infrastructure Senior officials from APM Terminals have met with Olusegun Aganga, Nigeria's minister of industry, trade and investment, along with a delegation of government officials and advisers, in The Hague, the Netherlands, to continue discussions on infrastructure investment to enhance the West African nation's logistics capabilities. APM Terminals' proposed Badagry, Nigeria, port...
Bolloré's Abidjan Terminal Bid Hits Snag Bolloré's winning proposal to build a second container terminal at the Port of Abidjan in Ivory Coast violates the nation's competition law, according to Jean-Louis Billon, the country's minister of commerce, Bloomberg Businessweek reports. Billon said that Bolloré's subsidiary Bolloré Africa Logistics CI and partners should not have been allowed to...
Q&A: Do Mexican Trucks Pose a Safety Issue? Q: Can you tell me what's going on about Mexican trucks being allowed to operate in the U.S.? I read recently that a federal appeals court had approved the Department of Transportation's decision to allow Mexican trucks to start operating on U.S. highways. Previously, I understand, Mexican trucks couldn't cross the...
G&W Rail Traffic Jumps on RailAmerica Acquisition Genesee & Wyoming, a major owner of short line and regional railroads in North America with significant operations in Australia as well, experienced a third straight month of growth in May. Its 2013 numbers, when compared to 2012, show extremely large increases because of its acquisition of RailAmerica. Regardless of this, May...
NYK Trading Installs Solar Energy System in Hokkaido On June 1, the NYK Group's largest solar energy generating system (2 megawatts) was connected to the Hokkaido town of Yakumo's power grid by NYK Trading Corporation (head office: Tokyo), an NYK Group company. The system in Yakumo is even larger than the system that NYK Trading placed in the U.S. state of New...
IHI bags EAS stake IHI Corp has inked a deal to buy a 25% stake in Brazilian shipbuilder Estaleiro Atlantico Sul (EAS).
Cosco in both camps Cosco may be continuing its fight against the entry of Vale's giant VLOCs into China but the conglomerate's stance on the issue is now far from straightforward.
Heavy on lightering AET's chief executive expects his company to maintain its significant, 30-ship presence in the US Gulf Coast lightering business despite challenging tanker markets.
Togo on piracy threat list Togo has been added to the list of areas where additional war risks premiums are charged by London underwriters.
Cido scraps VLOC Cido Shipping has reportedly sold the 258,000-dwt VLOC Pacific Beauty (built 1992) for scrap.
Steen joins DVB board Flemming Jacobs is the latest big name to announce his departure from DVB.
Taiwan Nav edges down Taiwan Navigation has posted a lower profit for the first quarter, but without asset sales it would have been worse.
Owner prevails on GA liens A London appeal court has ruled in favour of the shipowner in a dispute over a Russian charterer's liability to contribute to general average on a vessel that that had an unfortunate maiden voyage that included a pirate hijacking and a main engine failure.
KHI kicks out president Kawasaki Heavy Industries has axed president Satoshi Hasegawa as plans for a merger with Mitsui Engineering & Shipbuilding were shredded today.
Vitol clinches cape Vitol has chartered a capesize bulker from a Peter Livanos-led company in an improving market.
Filing hurts Hana Korean bank Hana Financial Group will likely book KRW 100bn ($88m) in loan-loss provisions due to the filing of STX Pan Ocean for court restructuring.
Riga builds duo Latvia's Riga Shipyard has revealed a deal to build two passengerships for a Russian owner.
Wartsila bags $200m Wartsila has again turned to the European Investment Bank for a $200m loan to fund a research and development drive.
Japan Club in surplus The Japan Ship Owners' Mutual Protection & Indemnity Association has reported a modest surplus and set a target of reaching a 100m gross ton entry by the end of the 2014 business year.
Coeclerici in comeback Italian shipowners d'Amico Societa di Navigazione and Coeclerici are teaming up in the dry bulk sector.
Miracle survivor's tale A crewman has recounted his miracle survival after the tug boat on which he was serving sank off Nigeria.
Clipper: no bank push Denmark's Clipper has denied market rumours its multipurpose (MPP) merger with Thorco.
Vega fixes newbuilds Norway's Vega Offshore has secured work for two anchor-handler newbuildings in Brazil.
Moody's profit pinch Shipowners will see core operating profit cut by up to one tenth this year due to weak freight markets, Moody's warns today.
Cargoship abandoned India's coast guard has rescued 22 crew from a drifting cargoship that was said to be in danger of sinking.
Greek grabs panamax Wakoh Kisen of Japan has reportedly sold the 76,000-dwt bulker Red Seto (built 2002) to a Greek buyer.
Deutsche calls the bottom A low point in newbuilding values has been established by an order for the largest container vessels ever contracted, with yards now unwilling to drop their prices further, according to Deutsche Bank.
STX designs "crusium" It's often said you can fit three football pitches on to the deck of a VLCC. Well, here's a ship that actually is a football pitch.
Crew safe after sinking Two crew have been rescued after their tug sank off Norway.
STX bail-out cut Creditors of STX Offshore & Shipbuilding have cut the yard's emergency funding by KRW 50bn ($44.1m).
Samsung builds monster Korea's Samsung Heavy Industries has continued its order run with a $3bn deal in Nigeria for what is believed to be the biggest FPSO ever.
Esben joins ICS top brass Former Torm Singapore boss Esben Poulsson and Asia veteran has been made a vice chairman at the International Chamber of Shipping (ICS).
Hosco cape arrested Hebei Ocean Shipping Co (Hosco) has seen a second bulk carrier arrested in less than a fortnight TradeWinds has learnt.
Germans Brazil bound Hamburg Sud is to launch a new liner service between South Africa and Argentina and Brazil next month.
Gunvor eyes expansion Gunvor, the Swiss-based oil trader, is to build a new oil products terminal in Indonesia in partnership with Oiltanking.
Food aid hearing targets U.S.-flag shipping "By restricting competition to the few U.S.-flagged ships still sailing... cargo preference adds $140 million in transportation costs (to food aid) each year," said Rep. Ed Royce, chairman of the U.S. House Committee on Foreign Affairs.
Cargill expands use of electronic bills of lading Electronic Shipping Solutions (ESS), a provider of shipping and trade document and data solutions, is partnering with the commodities shipper to include new grain trade routes from Argentina and Brazil to Europe.
Midwest truck rates to rise "Trucks that you thought were available will all of a sudden disappear, usually hauling for local farmers and grain elevators. This indirectly affects the whole industry," BulkLoadsNow.com's Jared Flinn said.
TIGER funds dispersed for Global Terminal facility The City of Bayonne, N.J., and the Port Authority of New York and New Jersey received an $11.4 million grant on May 22 that will be used by the marine terminal as part of its $350 million expansion and renovation.
Ohio feed shipper bets on CNG
DHL unveils new cold-chain product
First supply chain students graduate from Malaysian institute
Good avails in Fujairah Distillate prices jump in Cape Town.
Mediterranean prices firming Rotterdam averages show little change.
Turkey sharpens environmental focus Aiming to enforce all aspects of MARPOL Annex VI and planning to ratify ballast water convention.
Fuel oil stocks at six month high Singapore sees weak demand from China.
Moody's downbeat assessment of shipping remains Container lines particularly sensitive to cost of bunkers, says agency.
Bunker volumes fall in Singapore May's sales were down 11.4% year-on-year.
Wartsila lands R&D loan European Investment Bank loan is fourth in 10 years.
Another bulk carrier arrested Hosco vessel was held in Singapore.
Deltamarin bulkers to have 'extremely low' fuel consumption Vessels to boast a fuel oil consumption rate of less than 20 mt per day.
Bunker prices strengthen in Asian trade Supplies not an issue at most key Asian ports on Thursday.
Dan-Bunkering appoints new team leader in Copenhagen Michel Dominique Thomsen to take on role at firm's Copenhagen office in Denmark.
Baltic Exchange issues guidance on capesize fuel consumption Takes into account a market where an increasing amount of capesize vessels are slow steaming.
Shipyard says award is recognition of innovation 'We're honoured to be recognised,' says president of General Dynamics NASSCO.
Temporary bunker trader replacement at Petrobras Joyce Telles to take over duties of Livia Brasil with effect from June 14.
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