China's crude steel production doubled in 2012 CHINA doubled its crude steel production to 717M tonnes in 2012, from 356M tonnes in 2005, the International Drying Bulk Shipping 2013 conference heard today
Fleet supply/demand expected to flatline GROWTH in the global merchant fleet has been forecast to slow this year to roughly match the expected increase in demand for capacity
'K' Line seals order for five ULCSs 'K' LINE today joined the ultra-large container ship club
Shell signs 20-tanker deal SHELL has signed on for 20 MR product tankers, to be chartered in from South Korea's Sinokor Merchant Marine
SMM wins $417M jack-up pair SEMBCORP Marine of Singapore said today it has clinched orders for two new jack-up rigs for a total $417M
Smaller bulkers seen outperforming Capesizes RATES for smaller drybulk carriers are expected to outperform the Capesize sector in the short term, shipping analysts at Pareto in Oslo said today
CPP doubles down on box ships NASDAQ-listed Capital Product Partners has confirmed acquiring two more box ships, as it further diversifies its fleet mix
Orders hit four-year low at Japan's yards ORDERS at Japanese shipbuilders hit a four-year low in February, with just five ships contracted
China Shipping to lend to Haisheng unit CHINA Shipping Haisheng said it plans to borrow 800M yuan ($127M) from parent group China Shipping for 180 days
Refinery turnaround seen boosting tanker rates A REVERSAL in refinery activity in 2Q13 should cause a rise in crude flows as the sector approaches this summer, a shipping analyst said today
For China, breakbulk boom or export drop? CHINA'S engineering, procurement and construction schemes in Asia, South America and Africa are likely to spark a breakbulk cargo boom
Semisubmersible chartered by COSL CHINA Oilfield Services has chartered in a semisubmersible drilling platform that is being towed to its South China Sea operations
Bulker kept from sinking QUICK thinking has saved a drybulker in danger of sinking after a collision in China
Ezion raises $10M SINGAPORE-listed Ezion Holdings said today it raised S$12
Mercator Lines confirms third charter-in termination MERCATOR Lines (Singapore) today confirmed the termination of a third chartered-in vessel
Indian Court Says Italian Ambassador Has No Immunity in Ship Guard Case The Indian Supreme Court on Monday ruled that the Italian ambassador to India cannot claim "diplomatic immunity" in a legal dispute over Rome's refusal to return two ship guards charged with the killing of Indian fishermen. "A person who comes to court and gives an undertaking has no immunity," the Supreme...
India Aims for $100 Billion in Trade With Africa India is revising its goal for trade with Africa upward, according to Indian Minister for Commerce, Industry & Textiles Shri Anand Sharma. Despite an adverse global economic environment and contraction in India's trade with major trading blocs, Sharma told the African trade ministers that India's target is now at least $100...
Seaboard Marine Using Containers as Ro-Ro Alternative Seaboard Marine has begun using new bilevel automotive containers to handle shipments of automobiles to the Dominican Republic and Jamaica. In January, the ocean carrier began testing the car containers as an alternative to roll-on, roll-off handling for automobiles. José Manuel Peña, general manager of Seaboard Marine Dominican Republic, said customer...
CMA CGM to Debut Marseilles-Algeria Shuttle CMA CGM on March 25 will launch a new service linking Marseilles, France, with the Port of Bejaia, Algeria. The new Marseille-Bejaia Shuttle will depart from Marseilles on Monday evenings, arriving in Bejaia on Wednesdays, and depart from Bejaia on Saturdays, with arrival in Marseilles on Monday mornings. Cargo from Italy and...
Hapag-Lloyd Plans Asia-Europe Rate Hikes Hapag-Lloyd is planning two rounds of rate increases from the Far East to Europe and the Mediterranean. The first hike is scheduled to take effect on April 15, with the second following approximately a month later, on May 13. The increase will be $500 per 20-foot-equivalent unit in each round, the...
Battery Makers Urge Single Standard for Air Cargo An organization representing makers of rechargeable batteries is urging the U.S. Pipeline and Hazardous Materials Safety Administration to bring U.S. regulations on air transport of lithium batteries in alignment with international standards for such shipments. PRBA-The Rechargeable Battery Association has filed comments stating its support for proposed harmonization but decrying a...
Tepper Acquires Majority Stake in FastFrate Tepper Holdings has acquired a majority interest in Fastfrate Holdings, which controls Consolidated Fastfrate, Canada Drayage and related trucking and logistics operations, from a fund managed by Fenway Partners. The transaction, completed on Monday, was unanimously supported by its board, Fastfrate said. Terms of the transaction were not disclosed. "I am thrilled...
Work Begins on Melbourne Port Project Construction has begun on a project to boost capacity at Australia's Port of Melbourne. The A$1.6 billion (approximately US$1.7 billion) project includes additional shipping berths and on-dock inspection facilities to support the port's growing vehicle trade and other improvements. Victorian Minister for Ports David Hodgett said the competitive bidding by private parties...
Bridge the Gaps in Your GTM Operations with Gartner Research As organizations expand their global presence, many are implementing Global Trade Management (GTM) solutions for financial gain and risk mitigation. To help improve GTM operations, Gartner designed a GTM Maturity Model outlining the defining characteristics of companies in each of the four stages of maturity: Stage 1: Market-Focused Stage 2: Cost-Focused Stage 3: Demand-Driven Stage...
Consolidation Cooking in European Short Sea Shipping Shipping lines on the busy North Sea and Baltic routes are jostling for position ahead of another round of consolidation as the private equity funds and buyout firms that rushed into the market during the boom days of easily available capital and debt finance and strong traffic growth are bowing...
Canada-Panama FTA Set to Take Effect The Canada-Panama Free Trade Agreement will enter into force on April 1. Diane Ablonczy, Canada's minister of state of foreign affairs (Americas and Consular Affairs) made the announcement in Panama City, Panama, on March 17. She was joined by Fernando Núñez Fábrega, Panama's minister of foreign affairs, and by several representatives...
SBS Worldwide Promotes Kloch Lars Kloch, new CEO - Freight Division for SBS WorldwideLars Kloch has taken on a larger role at SBS Worldwide. Kloch, formerly US CEO for the London-based freight forwarder and supply chain company, has been named CEO of its freight division, with responsibility for global freight operations. In this new capacity,...
G6 Alliance Details Trans-Pacific Routes The G6 Alliance, which recently announced its expansion into the Trans-Pacific trade, has now provided details on the port rotations of the new services. Beginning in May, the alliance's six member lines will offer six coordinated services in the Asia-to-North America East Coast trade. They will deploy more than 50 vessels...
Port of Oakland Adds to Leadership Team The Oakland Board of Port Commissioners has approved hiring a new Social Responsibility Division director and a new chief technology officer. As SRD director, Amy Tharpe will partner with community and businesses to promote positive social and economic changes and develop a social responsibility strategy for the port. Tharpe managed San...
Hapag-Lloyd to Hike Asia-Europe, Asia-Australia Rates Hapag-Lloyd will increase rates on its westbound trade from India and Pakistan to North Europe and the Mediterranean by $225 per 20-foot-equivalent unit, starting April 1. The carrier will also hike rates on its trade from northeast Asia to Australia by $300 per TEU, starting April 15...
Drewry: Carriers Could Absorb Suez Canal Closure If the current civil unrest in Egypt forces the closure of the Suez Canal, ocean shipping lines would be able to absorb most of the shock of diverting Asia-Europe shipments around the Cape of Good Hope by increasing vessel speeds. "Closure of the Suez Canal tomorrow would not be a train...
FMC Seeks Info on Chassis Pool Request The Federal Maritime Commission has asked Consolidated Chassis Management to provide more information on its request to permit lessors, truckers and other equipment contributors to serve on the boards of CCM and its regional pools. CCM, created in 2004, operates six regional chassis pools that include more than one-fifth of the...
Global Ports' Profit Falls on Flat Revenue, Higher Container Traffic Global Ports' net profit for 2012 fell 16 percent from a year ago and revenue stalled even as the Russian group boosted container traffic by 8 percent to consolidate its near 30 percent share of the domestic market. The $23.5 million decline in net profit to $123.5 million reflected impairment charges,...
Maersk Does It Again You have to hand it to Soren Skou and the company he leads: They know how to command a stage. Before this month's three-day TPM Conference was an hour old, the CEO of Maersk Line had dropped at least three noteworthy bits of information that, if they didn't turn the...
Busan expects box volume to grow to 22m teu in 2020 BUSAN, the world's fifth-largest container port, has forecast its yearly throughput to grow to 22.4m teu in 2020 - a hike of more than 29%.The South Korea ...
Consolidation between Southeast Asia and AUS Effective April 19 two services from Southeast Asia to Australia will be combined into one to form a new ASAL loop on a fixed-day itinerary.Carriers operating the ...
Global Ports Investments sees annual box volumes rise 8% GLOBAL Ports Investments maintained its leadership in the Russian container terminal market in 2012, reporting an 8% year-on-year increase in volumes to 1.4m teu.APM ...
G6 clarifies transpacific tie-up after FMC gives it the green light THE G6 alliance has released more details of the new tie-up on the transpacific trades it announced last month, having secured approval for the plan from the US ...
K Line joins the ultra-large containership club at last
Jury out on GRIs Friday March 15 was a crucial date for ocean carriers plying the over capacity-plagued Asia to Europe tradelane; it was the day when their profitability-setting ...
Pappadakis primed Bulker newbuilding prices are unlikely to fall much below current market lows, according to industry veteran Nicholas "Nicky" Pappadakis.
Evensen uncensored The tanker market is in the fifth year of the downturn and the tides are unlikely to turn until 2014, according to Teekay Corp CEO Peter Evensen.
ClassNK targets US ClassNK, the world's largest class society, has signalled "dramatic" expansion in the US as it made its first, although modest, acquisition in its history which will take on ABS in the domestic US 'brown water' market.
Bahri eyes bonds Saudi shipowner Bahri is considering a debut Islamic bond issue to help pay for its $1.3bn takeover of compatriot owner Vela.
Prosafe flags Cyprus effect Prosafe has become the first Cyprus-based shipping related company to confirm it will take a hit if a government levy on savings comes into effect.
Back with a bang A sharp rise in criminal activity in the Niger Delta has led to fears of a return to a pre-amnesty level of pirate activity.
Freed crew to be paid The crew from a tanker released by Somali pirates earlier this month have struck a deal on wages owed to them.
Maersk's 100 cuts Denmark's AP Moller-Maersk could shed or shrink as many as 100 non-core units as it looks to reinvest cash.
ECA Crackdown continues A cruiseship managed by V. Ships Leisure has been identified as the latest target of what appears to be an increasingly aggresive US Coast Guard (USCG) crusade against air pollution.
New hope for Titan Embattled Titan Petrochemicals has won a postponement in its legal battle to avoid liquidation proceedings as a fresh cash injection appears to be around the corner.
NAT not involved Nordic American Tankers has distanced itself from reports linking it with a sale-and-leaseback deal with Euronav.
Failed bid clears the way STX OSV has greater clarity to move forward now that the uncertainty over a takeover bid by Fincantieri has come to an end, according to a Singapore-based analyst.
Havyard sets new record Saevik family controlled Havyard Group has warned of intensified competition in the offshore arena as it reported the best annual results in its history.
CSIC upbeat on orders China Shipbuilding Industry Co (CSIC) says global ship orders jumped 31% between December 2012 and January this year.
Stolt hopes to fire Stolt-Nielsen is firing on only two of three cylinders and is dependant on a recovery in the parcel tanker market to post a respectable profit, its top executives say.
Rate rises sticking Price hikes by container lines are boosting spot rates, according to figures from the Shanghai Shipping Exchange (SSE).
APT eyes debt action American Petroleum Tankers (APT) is planning to borrow $280m to pay off other debt as high interest costs swelled its 2012 loss.
Norden fights in Florida Norden has intensified its battle with Indian coal trader Bhatia over the failure of two contracts-of-affreightment.
Chinese yard on a roll Shanghai Waigaoqiao Shipyard has followed up its recent success in attracting hard-to-come-by shiporders by making more headway in the offshore sector.
Sardinian suspension Italy's Grandi Navi Veloci (GNV) is scrapping its ro-pax route from Genoa to Olbia in Sardinia.
Vroon builds Fujian tally Dutch shipowner Vroon has returned to Fujian Southeast Shipyard in China with a new order for the second time this year.
Hakata seals KMTC duo Hakata Shipbuilding Co has confirmed orders for two 1,000-teu feeder containerships on the back of long-term charters.
High five for K Line K Line has placed a five-ship order for what will be the largest container vessels on its books.
Reindeer slaughter An unknown number of reindeer have been killed after a swimming herd was hit by a cargoship off Norway.
On the rocks A German cargoship faces two weeks aground in low tides unless a salvage operation frees it on Monday.
Mercator cans another Mercator Lines (Singapore) has terminated another long-term time charter - its fourth since the start of the year.
Yard deal torn up India has scrapped approval for a new shipyard proposed by Goodearth Maritime.
Sungdong in cape haul Sungdong Shipbuilding has won newbuilding orders for up to ten capesize bulker newbuildings from two Greek shipowners.
Plato in PSV prang Singapore has seen a fourth collision incident in less than a month despite a recent warning from local authorities.
PPL wins Mexico rigs SembCorp Marine's PPL Shipyard has won a repeat newbuilding order for two jack-up drilling rigs in a deal worth $417m.
DHT offloads Regal DHT Holdings has reportedly sold the oldest tanker in its fleet to Thai buyers, according to a number of brokers.
Capital drops down two Evangelos Marinakis' Capital Products Partners is to acquire two 5,000-teu containerships from his private company.
ATA challenges hours of service rules in court The American Trucking Associations argued Friday in front of a panel of judges from the U.S. Court of Appeals for the D.C. Circuit that the FMCSA's hours of service rule changes should not be implemented.
Antwerp seaport adds Descartes system
G6 reveals port rotations for Asia-U.S. East Coast The G6 Alliance, which announced earlier this year that it would expand beyond the Asia-Europe trade lane, has revealed port rotations for six services between East Asia and the U.S. East Coast, starting in May.
'K' Line orders five 14,000-TEU containerships "K" Line has not yet decided if it will own the ships or charter them from another company. "There are several options but our basic idea is to create an off-balance-sheet scheme for these vessels," a "K" Line spokesman said.
Sharp rise in Asia-to-Europe box rates, softness in U.S.
Cathay, Hactl show depressed February results
U.S., Canada announce truck pre-clearance pilot
Maersk's Triple-Es to star in their own TV series
U.S. cites progress on FTA with South Korea Friday, March 15, marked the one-year anniversary of the entry into force of the U.S.-South Korea free trade agreement and, so far, the White House is pleased with the results. U.S. auto, chemical, services and ag exports make inroads.
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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