Are bonds the future of German ship finance? Heaven helps those who help themselves, argues Rickmers boss
Expect recurrent minor shocks, says BIMCO Thesis confirmed by fast-moving week on markets
Maersk Mc-Kinney Moller will load just 14,300 teu this year Arrival of mega boxship will not jeopardise efforts to stabilise troubled Asia-Europe trade
Product tanker orders rise General Dynamics Nassco lands fresh contract for four vessels
Reasons to be cheerful? Survey finds shipping with a new spring in its step but the storm is not over yet
Nautilus urges UK to tackle seafarer certification fraud Large flag states 'dismally abrogate their responsibilities'
Jones Act product tankers in demand Export boom stems from shale oil and other hard-to-reach locations
APMT plans to raise stake in Ningbo terminal for giant boxships Ports arm of Maersk will hold 33% stake in 2.8m teu terminal
Kerry Logistics opens three distribution bases in China Hubs will support the automotive, pharmaceutical and hi-tech industries
Sovcomflot clings to first-quarter profit State-owned tanker giant predicts a grim 2013
Shipping confidence hits its highest level since 2010 But concerns persist about over-supply of tonnage
FSL Trust seeks tanker redeliveries after Geden defaults on payments Returned tonnage will not affect FSL Trust's ability to service debt, says Fitch
IHI-led consortium buys 25% stake in Brazil shipyard Japanese firms position themselves to tap the country's offshore and energy boom
LNG spot rates expected to stabilise at $80,000 per day Shipping is still very profitable, says Morgan Stanley
BIMCO revises boxship scrapping forecast upwards Owners could send 4% of global cellular fleet to the breakers' yards this year
Motorola joins the rush to near-source Switch in smartphone assembly highlights the trend that threatens box shipping
Markets expect improved capesize rates to hold Restocking in China boosts demand
Timely warning Money has again become too easy
Korea Eximbank pledges further loans to country's shipyards Policy bank will lend $3.5bn towards construction costs this year
Beijing urged to focus on equal treatment of private and state yards Sinopacific Shipbuilding executive calls for level playing field and an end to subsidies
Dry bulk market will absorb STX Fallout from struggling South Korean owner will not hit the market too hard, say experts
Maersk grabs the headlines with launch of Triple-Es Carrier's 18,000 teu boxships usher in a new era for its tonnage and for its public relations stance
Family celebration for first Triple-E Uggla will name Maersk's first 18,000 teu ship after her father
Triple-E: Too costly to be competitive? The big question about Maersk Line's 18,000 teu Triple-E vessels
Korean banks raise lending to country's shipyards KOREA EXIM Bank said it is expanding its loan facility to struggling compatriot yards by 500Bn won ($444M)
Chinese 'Green Fence' hits US exporters BEIJING'S green import crackdowns are sharply curtailing the leading US export commodity, a carrier representative has warned
Geden defaults on tanker GEDEN Lines has defaulted on charter hires for two tankers, whose owner, First Ship Lease Trust, is demanding their redelivery
GasLog taps Oslo bonds NYSE-listed GasLog has priced an offering of unsecured Norwegian bonds, securing proceeds for its LNG newbuilding programme
Shipping confidence rating rises to a new high A SURVEY said today shipping's overall confidence level rose to its highest level for two-and-a-half years in the three months ended May 2013
Russia creates yards tsar THE KREMLIN has created the new post of deputy minister of industry & trade to supervise the shipbuilding industry and appointed Sergei Shishkarev
LNG schemes raise LPG production in Oz AUSTRALIAN LPG production is expected to grow as new natural gas projects are being developed Down Under, the IHS Purvin & Gertz Asia LPG Seminar heard today
MISC plans LNG fleet expansion MISC officials told Fairplay today they plan to expand its LNG fleet by about eight new carriers, all to be secured with long-term charter agreements with PETRONAS
Weaker yen sparks gas carrier orders A RECENT spate of orders for pressurised gas carrier in Japanese yards suggests that the weaker yen is attracting business for vessel segments that these shipbuilders specialise in, said Norwegian broker Joachim Grieg & Co.
Blue Water buys venerable W&K BLUE Water Shipping, Denmark's freight forwarding group, said today it has acquired Wikerstrom & Krogius of Finland
Petrochemical demand for LPG seen growing DEMAND for LPG as a petrochemical feedstock is set to grow as more crackers are built to run on naphtha or LPG or both, the IHS Purvin & Gertz Asia LPG Seminar heard today
300 Endangered Species Added to Illicit Trade List Nearly 180 countries participating in the global organization that regulates trade in endangered plants and animals this week began enforcement of illicit international movement of more than 300 new species. The Convention on International Trade in Endangered Species of Wild Fauna and Flora had agreed to the new listings, which include...
Container Volume Plunges at Los Angeles The Port of Los Angeles, the nation's largest container port, reported a 12.9 percent decline in cargo volume for May compared with a year earlier. Imports in the month fell 12.0 percent year-over-year to 326,115 20-foot-equivalent units. Exports fared even worse, diving 16.3 percent to 154,905 TEUs. Total loaded imports and exports fell 13.5...
Cargolux to Double Weekly Hong Kong-Ohio Flights Cargolux Airlines International has plans to double the frequency of its cargo flights from Hong Kong to Rickenbacker International Airport in Columbus, Ohio, The Columbus Dispatch reports. Cargolux will offer two flights a week, on Sundays and Thursdays. The move could reverse a decline in activity for Europe's largest all-cargo carrier...
L.A. Mayor Villaraigosa and Port of L.A. to Announce Urban Marine Research Center Project WHO: Los Angeles Mayor Antonio Villaraigosa, Los Angeles Councilman Joe Buscaino, Port of Los Angeles officials, marine scientists, academic and business leaders will unveil new name, vision, and major funding commitment for a collaborative public/private partnership to transform a 100-year old port pier into a new world-class urban marine research and innovation...
Avian Flu Slams Mexican Poultry Exports Mexico's poultry market has suffered a "considerable loss" in production as the outbreak of avian flu that surfaced in 2012 shows no signs of ending soon, according to the U.S. Grains Council. "There is no question this will have an effect on imported feed grain products from the United States," Julio Hernandez, director...
Penske Truck Leasing Opens Iowa Facility Penske Truck Leasing, the Reading, Pa.-based equipment and maintenance provider, has opened its $4.2 million facility in the Eastern Iowa Industrial Center in Davenport, Iowa. The 11,800-square-foot building is situated on nearly eight acres and provides full-service truck leasing, consumer and commercial truck rental and contract maintenance services. It has three service...
NYK Line Names Sheehy VP of Operating Services NYK Line has appointed Dan Sheehy vice president of operating services, effective immediately. Sheehy, a 21-year veteran manager with the container line in the commercial and operational segments, will be responsible for marine, terminal, rail and truck operations in North America, in addition to his current responsibility for customer service and...
May US Retail Sales Edged Up for Second Month Retail and Food Service Sales through May 2013 Full-size image U.S. retail and food service sales edged up 0.6 percent in May 2013 to $421 billion, according to the latest seasonally adjusted retail report from the Census Bureau. This accelerated from a 0.1 percent increase in April and extended growth to a second...
4,600-TEU Container Ship Joins Seaspan Fleet Seaspan has accepted delivery of the MOL Excellence, a 4,600 20-foot-equivalent unit container ship. The vessel was constructed by Mitsubishi Heavy Industries in 2003 and expands the company's operating fleet to 70 vessels. The MOL Excellence is on charter to Mitsui O.S.K. Lines under a two-year, fixed-rate time charter. The ship is...
West Coast Ports in Search of Balance West Coast ports must seek a balance as they prepare for the onslaught of big ships carriers are bringing into the trans-Pacific. On the one hand, they need larger terminals to handle the big ships, but on the other, they don't want to build too much capacity. The Port of Long...
Roadrunner Opens Kansas City Service Center Roadrunner Transportation Systems' outbound, less-than-truckload service center operations have commenced in Kansas City, Mo. The expansion broadens the asset-light transportation and logistics service provider's footprint to include Kansas, Nebraska and western Missouri. Furthermore, beginning the week of June 17, Roadrunner, No. 22 on JOC's 2012 list of the Top 50 Trucking Companies,...
Far East Asia Exports to India Subcontinent Near Year High Containerized exports from Far East Asia to the Indian subcontinent and the Middle East reached 646,600 20-foot-equivalent units in April 2013, the most TEUs exported in a month in this lane since May 2012, according to data from Container Trades Statistics Ltd. Exports increased marginally month-to-month and year-over-year. Far East Asia...
SCFI: Asia-to-US Spot Rates Hit 15-Month Lows Shanghai Containerized Freight Index, U.S. West Coast, week of June 14, 2013 Full-size image The Shanghai Containerized Freight Index spot rates for U.S.-bound trade lanes experienced further declines in the week of June 14, the third straight week of declines in these lanes. Rates have reached their lowest in more than 15 months, lost...
SCFI: Asia-Mediterranean Rates Dip Post GRI Asia-Mediterranean spot freight rates measured by the Shanghai Containerized Freight Index gave back $20 in the week ending June 14, after gaining $462 from a June 1 general rate increase. UASC, CSCL and Maersk planned to increase rates by $500 to $750 per 20-foot container, while Cosco and MSC sought...
Truckload, Intermodal Rates Mixed in May, Cass Says North American truckload pricing in May increased 1.4 percent from the same month in 2012, but fell 2.4 percent from April, according to the Cass Truckload Linehaul Index. May marked the first year-over-year decline and lowest point for the year for truckload rates tracked by Cass. The truckload rate index, which...
Westgarth climbs Former Teekay man promoted to GasLog's chief operating officer job, as Dennis Houston joins board.
Hero flees Houston? Financier Icon Investments has accused a Geden Holdings tanker of leaving Texas waters despite a judge's order putting a hold on the ship's release in a lawsuit between the companies.
Solvang back for VLGCs Solvang has added two more VLGCs to its orderbook at Hyundai Heavy Industries (HHI) in Korea.
Irish Judge completes sale An Irish Judge today completed the auction sale of a Liberian-owned cargoship which has been detained since March.
Small ships prove profitable Insuring small ships can bring in a big result with the Shipowners' Club again delivering higher than anticipated profitability.
Maersk names first giant Ane Maersk McKinney Uggla today named the first of Maersk Line's 20 giant Triple-E container vessels at Daewoo Shipbuilding & Marine Engineering in South Korea.
Huxley hunts bulkers TradeWinds digests the digits making the headlines this week.
Fire hits cruiseship A fire on a Hapag-Lloyd cruiseship during drydock has forced the cancellation of two cruises.
Snoozing into trouble A UK cargoship grounded on Spanish rocks at full speed as its chief officer slept alone on the bridge for more than an hour, an accident report has revealed.
Golden Ocean buys again Golden Ocean has potentially taken its recent expansion drive into double figures with a newbuilding order in China.
Angola LNG fires up Production has finally started at the much delayed Angola LNG plant with a first cargo rumoured to be loaded for shipment to Brazil.
SCF profit chopped Russian owner Sovcomflot (SCF) has seen earnings slashed in a "very challenging" first-quarter tanker market.
Safe secures cash Safe Bulkers has seen through a $40m equity issue in a week which has seen two listed rivals file for bankruptcy.
FSL demands duo back Singapore-listed First Ship Lease (FSL) is demanding the redelivery of two suezmaxes after it said Turkish charterer Geden defaulted on payments.
Vroon warns of fraud Dutch owner Vroon says a fraudulent company is using its name to lure job hopefuls into parting with cash.
SWS in PSV first China's Shanghai Waigaoqiao Shipbuilding (SWS) has booked its first supply ship order.
A cracking read We take a look at what was said in the market over the past week.
GasLog nets notes cash GasLog has collected nearly $90m from a Norwegian paper issue which has seen its top brass dig into their own pockets.
More Vinalines execs held Three former Vinalines executives have been arrested in Vietnam over "abuse of power."
Lucky 13 Dutch yard IHC Merwede has clinched an order worth EUR 125m ($166.68m) for new dredgers.
MBC seals China AHTS Marine Bulk Carriers (MBC), the Cape Town-based black empowerment shipowner, has ordered an anchor handler in China.
NYK eyes subcontinent NYK is looking to boost its links with India and the region through a new liner service to the emerging powerhouse.
Philippine ferry sinks Twenty-five people remain unaccounted for after a ferry sank off an island in the Philippines Friday morning.
Cargill expands eB/L use Cargill has expanded its use of electronic bills of lading (eB/L) to include agricultural cargoes from South America.
Traf funds port growth Trafigura has secured $200m in long-term bond financing to help expand a coal exporting terminal in the US state of Louisiana.
Tales of two filings STX Pan Ocean and Excel Maritime Carriers both suffered high-profile bankruptcy filings this week.
GMS tied to KG raid GMS has emerged as one of the participants in the recapitalization of Konig & Cie.
Truckers celebrate C-TPAT reporting changes The U.S. Department of Homeland Security has agreed to make suspension or removal from the program not immediate. DHS has also published a document outlining the measures it will take for security breaches.
Supreme Court strikes down parts of clean truck program
U.S. exporters confused over Mexican tax regulations "It's hard enough having to go through a NAFTA verification audit once, but being subjected to re-auditing when you've already passed with flying colors seems unduly harsh on business," trade attorney Elise Shibles said.
Bill to end Port NY/NJ fee advances In 2011, the port instituted a cargo facility charge (CFC) on all waterborne cargo, including empty containers. The fee is $4.95 for 20-foot containers, $9.90 for 40-foot containers, and $1.11 per unit for vehicle cargo.
CMA CGM announces rate hike
New airport slated for Toronto area The Canadian government has unveiled plans for a new airport, among other developments, at the federally-owned Pickering Lands site outside of Toronto. The new airport will replace the aging Buttonville Municipal Airport.
Impatex takes NetFreight to the cloud
Maersk holds naming ceremony for first Triple E ship
Fuel prices end week higher in the Americas Demand was said to be soft in Houston on Friday.
Consultant outlines hiring trends in current bunker market Singapore remains main bunkering hub, with majority of vacancies having wider Asia-Pacific and Southeast Asia market focus.
Survey shows rise in shipping confidence Survey showed evidence of increased enthusiasm for new investment, although doubts still persist about availability of bank financing.
Maersk unveils world's biggest ship 'Hopefully the ships will help us to get closer to profitability on Asia to Europe,' says CEO.
Viking Ocean newbuilds to use clean propulsion packages Alfa Laval will supply accompanying exhaust gas treatment systems for sulphur dioxide removal.
Price outlook mixed in Fujairah Bunker prices make gains in Cape Town.
Prices move up in north Europe, mixed in the Med Rotterdam's MGO price up by nearly $20.
DFDS to install more scrubbers Investing close to $18 million to put tested system on three more ships.
IMO may revisit flash point limit US proposal to revise SOLAS and 'exclude certain low-flashpoint diesel fuels from the scope of the IGF Code' declined, for now.
Bulk carrier building 'fuel efficient ship' Golden Ocean will own a fleet 'of five to eight fuel efficient Supramax bulk carriers.'
Evergreen: We will cut costs to return to profit Box shipping company seeking 10% reduction in cost of filling a container.
Continued growth predicted for Turkish ports Potential for Turkish marine fuels market as country's seaborne trade grows faster than in other European countries and ports are developed.
Nicaragua grants canal concession Hong Kong-based firm lands deal.
Asian bunker prices end week higher MGO prices recorded double-digit gains in Singapore and Hong Kong.
Players reassure bunker market over supplies South Korean refiners will import bunker fuel to meet demand.
Tender out for LNG barge contracts Strong interest from yards to support Shell's LNG ambitions.
Developer updates commodity management software Software is designed to increase profitability by managing commodity risk, says Triple Point Technology.
Andatee now trading on Nasdaq Capital Market Firm's stock listing transferred from Nasdaq Global Market.
Andatee now trading on Nasdaq Capital Market Firm's stock listing transferred from Nasdaq Global Market.
DSME seeks patent for on-deck LNG bunker fuel tank Design consists of a deck, a fuel tank and a cover.
Oil spill response base opens in Singapore Oil Spill Response Limited working closely with MPA to enhance preparedness, says CEO.
Domestic bunker blending margins tighten in East China Bunker blending margins down due to lower product prices.
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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