P3 is 'the best insurance we can have', says Maersk's Vincent Clerc Tie-up involves no major rationalisation of capacity
Volumes flatline on P3 trade lanes Container Trades Statistics figures reveal stagnant first four months of 2013
MSC's Aponte hails vessel sharing deal with Maersk and CMA CGM Alliance is 'a no-brainer'
P3 headquarters will be based in London Rodolphe Saadé says independent fleet-operating company should satisfy regulators
STX Pan Ocean owed Conti $15m before receivership Some projects now on hold, German owner admits
New model IMO seeks to adapt to shipping's changing environment Impetus for reform is building as UN body seeks to better serve industry's needs
On-message Persuading shippers that they benefit will help P3 to win regulatory approval
Disingenuous comments tarnish Maritime Labour Convention debate Give shipowners the option to care for crew
Regulatory authorities will take a long, hard look at planned super-alliance Big Three face Brussels rules that set a 30% ceiling for carriers' market share
Long Beach closes in on Los Angeles' box volumes Last month's imports hit a peak last seen in August 2010
STX Pan Ocean faces further ship arrests Bulk carrier New Giant detained in New Zealand
Fault line We need a thorough investigation into how five-year-old MOL Comfort split in two
Shippers voice mixed feelings about P3 tie-up Global Shippers' Forum warns that Big Three deal could breach competition rules
Split MOL Comfort continues to drift but there is no oil spill, says owner LATEST: Fore and aft sections are 19 miles apart in rough seas
Shell books aframax as Libya resumes crude exports after protest stoppage Owners prepare to pounce as two oil terminals re-open
Cagliari box terminal aims to grow its deepsea and feeder services Sardinia port will also improve its North Africa links
Maersk, MSC and CMA CGM form mega-alliance P3 deploys 255 vessels on 29 loops, giving Maersk flexibility to introduce its Triple-Es
Ship Finance unveils share offering Move should raise around $138m for Fredriksen outfit
Record predicted for Danish revenues DANISH shipping companies are likely to set a record for combined gross revenues this year, according to the Danish Shipowners' Association
Older product tankers shunned CHARTERERS want owners to build product tankers with 25-year life spans, but they only want to charter ships that are 15 years old or less, said Anders Engholm, CEO of Hafnia Management
STX Pan Ocean shares dive STX Pan Ocean's stock price plunged today when the company lifted a trade suspension
Salvors rush to Arabian Sea box ship casualty SALVORS are today trying to reach MOL Comfort in the Arabian Sea, where both sections of the cracked, 8,110teu box ship remain afloat, Cargo Casualty Management said
208 held in migrant smuggling cases GREEK officials are holding 208 people today in connection with the past week's attempts to smuggle migrants at sea
Titan exits Singapore HONG KONG's Titan Bunkering has not renewed its licence to operate and supply bunkers in Singapore this year
Breaking pace slows WEAKENING steel prices and the South Asian monsoon season have halted many speculative vessel purchases in the shipbreaking market
CPC seeks VLCC TAIWAN government-owned oil refiner China Petroleum Corporation has released a tender to timecharter a VLCC for a year, brokers told Fairplay
VLGC rates near record RATES to ship LPG from the Persian Gulf to the Far East are nearing an all-time high, having hit $79.75 per tonne on the Baltic Exchange yesterday
Euroseas to renew fleet NASDAQ-listed Euroseas today announced the scrapping of one box ship and the purchase of another, as low pricing spurs fleet renewal
China secondhand trade falls CHINA's secondhand vessel dwt totals fell 21% month on month in May, mainly because of weaker trading, the China Ship Trade Information Platform said
SFI launches offering JOHN Fredriksen's Ship Finance International said it will sell 8M common shares through an offering underwritten by Morgan Stanley
'Buy' call for oil services UOB KAY Hian today recommended 'buy' for the oil service sector, noting a cyclical drop in shares
Laeisz, L&B merge box ship marketing GERMAN shipowners F Laeisz and Leonhardt & Blumberg said today they are combining their box ship chartering activities
Grounding investigated INQUIRIES have begun into the cause of a general cargo ship's grounding in the eastern Philippines, the Philippine Coast Guard told Fairplay today
Hapag-Lloyd to Add Bahrain Call to Intra-Asia Services Hapag-Lloyd will add a direct port call at Bahrain to its South China Sea Express and Middle East Express services. The new rotation will begin on Aug. 12, with the sailing of the NYK Theseus, voyage 26w/27e33, according to the container line....
Trucking Tonnage Index Reaches All-Time High The American Trucking Associations' advanced seasonally adjusted For-Hire Trucking Tonnage Index jumped 2.3 percent to 126.0 in May, the highest level on record, after falling 0.2 percent in April. Compared with May 2012, the index increased 6.7 percent, which is the largest year-over-year gain since December 2011. Year-to-date, compared with the...
FMCSA Declares Colorado Trucking Company 'Imminent Hazard' The U.S. Department of Transportation's Federal Motor Carrier Safety Administration has ordered E & K Trucking, based in Commerce City, Colo., to immediately cease its trucking operations, declaring the company to be an imminent hazard to public safety. E & K Trucking, which operates a small fleet of trucks that primarily...
US Customs Begins Cross-Border Truck Cargo Pre-Inspection Pilot U.S. Customs and Border Protection has begun the first phase of a truck cargo pre-inspection pilot at the Pacific Highway crossing in Blaine, Wash., adjacent to Surrey, British Columbia. The project is a collaborative effort by CBP, Canada Border Services Agency and Public Safety Canada under the U.S. and Canadian "Beyond...
Eastbound US Intermodal Rates Slip U.S. east-west spot rates, week of June 17, 2013 Full-size image U.S. intermodal rates for east-to-west shipments fell this week, the only of the directional indices to see a decline, according to data on all-inclusive 53-foot door-to-door spot pricing quoted by railroads and provided by the 3PL IDS. The top 12 and top 18 combined...
Too Late for Congress to Block HOS Rules? WASHINGTON - The trucking industry on Tuesday urged Congress to postpone the implementation of new hours of service rules set to take effect next month, arguing more research needs to be done and the regulation lacks teeth without electronic onboard recording device monitoring. But is it too late for Congress to act? The...
Jaxport Elects York as Chairman Jacksonville Port Authority's board of directors has unanimously elected Joe York as chairman, effective July 1. York will succeed James Citrano, who will continue as a board member following his one-year tenure as chairman. York, who joined Jaxport's board of directors in 2010, is vice president of legislative and regulatory affairs for...
New Canada-Indiana Intermodal Service to Offer 'Matchback' Options The new Canadian National-Indiana Rail Road intermodal service to Indianapolis will offer export "matchback" opportunities for steamship lines and shippers when it launches on July 1. The CN-INRD tri-weekly service will connect Canada's west coast ports of Prince Rupert and Vancouver to Indianapolis. INRD is building a more than $2 million...
8,800-TEU Ships Calls NY Port in New Service The first ship in a new G6 Alliance service linking Asia and the U.S. East Coast via the Suez Canal called at Global Terminal in Bayonne, N.Y. The Seattle Express is operated by Hapag-Lloyd, a participant in the G6 along with APL, Hyundai Merchant Marine, MOL, NYK Line and Orient Overseas...
Euroseas Buying New Ship, Scrapping Another Shipowner and operator Euroseas Ltd. is upgrading its fleet by selling off an older container ship and buying a newer, larger vessel. The company said it sold for scrap one of the oldest ships in its fleet, the 950-TEU Anking, for approximately $3.7 million. The 1990-built vessel is to be delivered...
Court Rules Against NLRB in ILWU Dispute A U.S. District Court judge in Portland ruled that the National Labor Relations Board last year had no right intervening in a contractual dispute between a container terminal operator at the Oregon port and the International Longshore and Warehouse Union. The issue involves which union, the ILWU or the International Brotherhood...
National logistics company activates Foreign Trade Zone in Midwest pharmaceutical hub INDIANAPOLIS - MD Logistics has become one of only a few pharmaceutical third party logistics (3PL) companies in the Indianapolis area to achieve Foreign Trade Zone status. Having FTZ status means that when a customer's imported product arrives at a U.S. port, it can be moved immediately to MD Logistics facilities...
P3 Network: Lower Costs, But No Less Capacity The P3 Network announced today between Maersk Line, Mediterranean Shipping Co. and CMA CGM will have little or no impact on the glut of vessel capacity that has been depressing global freight rates, but will enable the world's three largest container lines to substantially cut their operating costs on the...
Liebherr Opens Service Center in Miami The new facility will be a hub for Liebherr's maritime cranes division.Liebherr has opened a new sales and service center in Miami. The facility will be a major hub for the German equipment manufacturer's maritime cranes division and will strengthen business relations to Central America, South America and the Caribbean region,...
Horizon Gets OK to Re-Engine Ships Outside US The Coast Guard has told Horizon Lines the carrier can convert two steam-powered ships to LNG and diesel propulsion in non-U.S. shipyards and still be able to operate the vessels in the Jones Act domestic trade. Horizon had asked the Coast Guard for a letter confirming that work on the Horizon...
New Freight Rail Connection, Bridge to Pelican Island in the Works The Galveston County Rural Rail Transportation District has executed an agreement with Legacy Port Partners for a feasibility study for a new freight rail connection to Pelican Island, located between the ports of Houston and Galveston, Texas, as well as construction of a new four-lane bridge to serve traffic on...
OFDL to Hike Base Rates on July 1 Old Dominion Freight Line will increase its base rates for intrastate, interstate and cross-border lane charges, effective July 1. The exact increase may differ for non-contract customers based on a number of variables, including the lanes used and the distance shipments move, the less-than-truckload carrier said in a written statement. However,...
Maher Reports Progress on Delays in NY Maher Terminals reports progress in recovery from severe delays that accompanied glitches in a new computer system, but CEO Gary Cross said additional ship calls may be subcontracted to other terminals this week in the Port of New York and New Jersey. Five ships that had been scheduled to dock at...
US Diesel Reaches Lowest Price Since July 2012 U.S. diesel prices through June 17, 2013 Full-size image U.S. diesel prices fell for a fourth straight week in the week ending June 17, pushing prices to their lowest level since July 30 of last year, according to the U.S. Energy Information Administration. Despite the overall decline, some regions saw prices rise. The...
$100m Diamond? New York master investor Wilbur L Ross and his Diamond S Shipping are in the process of trying to raise $100m worth of equity in a campaign led by Oslo-based Pareto Securities, finance sources tell TradeWinds.
Jonesing in NY Once boring US domestic trade draws a crowd in Manhattan as finance conference kicks off
Analyst likes StealthGas Wells Fargo Securities analyst puts 'outperform' rating on Harry Vafias-led StealthGas.
LNG on the Horizon Horizon Lines is aiming to convert two of its US-flag containerships to run on LNG, a US Coast Guard ruling reveals.
Yujin gets refund Yujin International has managed to claw back payments made on a pair of cancelled chemical tankers.
Braemar sees box bottom The containership orderbook fell below 20% of the current fleet in June, according to Braemar Seascope.
Ship Finance in retreat Shares in John Fredriksen's Ship Finance International (SFI) shed nearly 6% of their value in early trading Tuesday as investors reacted to plans for an equity offering.
Evergreen goes Black Taiwan's Evergreen is launching a new feedership service into the eastern Black Sea.
In and out for Euroseas Euroseas has taken advantage of rock bottom containership values to renew its fleet.
West Africa piracy rises More seafarers were affected by piracy off the West coast of Africa last year than near Somalia which has seen a dramatic reduction in attacks thanks to armed guards and naval patrolling, according to a new report.
Work still to do Maersk's new P3 boxship alliance with MSC and CMA CGM is aiming for a launch in the second quarter of 2014, after months of negotiations.
Tanker free off Benin A French tanker is safe after a hijacking incident off West Africa, but there is no word on its crew.
Zhongchang sells bulker China's Zhongchang Marine has sealed a bulker sale and leaseback deal for a 1991-built ship.
STX PO shares crash Korean bulker owner STX Pan Ocean saw its stock plunge more than 46% on Tuesday, the first day of trading since its filing for court rehabilitation.
MOL: "No major spill" Japanese owner says no indications of serious pollution from two sections of MOL Comfort.
Solving Triple E problem? The P3 tie-up of the three biggest container lines could help solve the problem of how to deploy Maersk's huge Triple E newbuildings in tough markets.
SFI launches cash grab John Fredriksen's Ship Finance International (SFI) has launched a raid on the equity markets to give it the dry powder required to build its fleet.
Kiwis arrest STX bulker STX Pan Ocean, the embattled South Korean shipowner, has had a handysize bulker arrested in New Zealand.
Cargoship hits reef The crew of a general cargoship has been arrested in the Philippines after running aground on a reef.
Top trio team up Maersk Line, CMA CGM and MSC are establishing a long-term operational alliance on East - West trades, called the P3 Network.
Cochin eyes bonds India's Cochin Shipyard is looking to raise INR 10bn ($171m) through bond and share sales.
Posco: no Daewoo bid Korean steel group Posco has said it has not considered making an offer to take over Daewoo Shipbuilding & Marine Engineering.
LDC names new CEO Louis Dreyfus Commodities (LDC) chief executive Serge Schoen is stepping down after eight years in charge of the company.
Carnival sues yard Carnival has reportedly filed a lawsuit against a shipyard in the US over damage to one of its cruise ships in April.
Jaxport offers CEO job to former Horizon Lines exec The Jacksonville Port Authority's board of directors voted Monday morning to offer its chief executive officer position to Brian W. Taylor, a former executive vice president and chief operating officer of Horizon Lines.
MOL ship splits in half, but both sections floating The Japanese liner reports its containership MOL Comfort has split in half, but that as of 7 a.m. the fore and aft sections of the 7,041-TEU ship continue to float with containers onboard in the Arabian Sea near the coast of Oman.
U.S. Bank offers new fuel card for truckers
NYK starts U.S. ro-ro service to WCSA
May ore loads on Great Lakes down over a year ago
Cargolux adds Columbus-Hong Kong route
Old Dominion relocates Fort Wayne service center
Pilot pushes Spanish expansion
U.S-Canada begin truck pre-inspection pilot The United States and Canada on Monday began a limited demonstration program at the Blaine, Wash.-Surrey, British Columbia port of entry for pre-inspecting U.S.-bound trucks in Canada instead of at the border.
Packaging facility to open in Mumbai
Washington Notebook: U.S.-EU trade talks to start next month
INTTRA releases ocean document mapping tool The portal-based ocean shipping e-commerce network on Tuesday unveiled a new application designed to reduce the millions of manual transactions ocean carriers process annually.
TP Pulse: Shippers expect no big rate, capacity swings
Analyst sees potential for FedEx
Maersk, MSC and CMA CGM announce new alliance The three largest container shipping carriers in the world, Maersk Line, Mediterranean Shipping Co. and CMA CGM, said this morning they have agreed in principle to establish a long-term operational alliance on East-West trades, which they're calling the "P3 Network."
OW Bunker expands Hong Kong operation Andrew Lee has been appointed as a new bunker trader.
Avails tight in Fujairah Prices lift in South African ports.
Prices set a soft trend in Rotterdam But market firms in Hamburg.
Piracy in West Africa 'worse than off Somalia' Report confirms escalating problem in Gulf of Guinea.
Fuel efficiencies lifting demand for newbuilds Low building costs also a factor, says analyst.
New terminal will help 'underpin' Chile's bunker market San Vicente upgrade has made loading bunker product more efficient.
Environmentalists call ECA waiver attempt 'deplorable' Clean Air Watch says cruise line is trying to 'relax life-saving clean-air requirements.'
Asian bunker prices lose direction Low to average demand reported in Singapore
IMO commissions North American study for LNG as bunkers DNV submitting feasibility study to IMO in October to support decision making process.
MOL ship in two but afloat No indication of major oil leak.
Container lines' alliance 'will cut bunker consumption' Maersk Line, Mediterranean Shipping Company, and CMA CGM agree to pool fleets on three trade routes.
UK hydrogen-fuelled ferry attracting 'wide variety of interest' 'We receive a constant stream of foreign official visitors, journalists and dignitaries.'
DNV: Shipowners face lubricants 'challenge' in US EALs may have 'some major disadvantages' that shipowners should take note of.
Titan Bunkering leaves MPA accredited bunker supplier list Titan Petrochemicals Group currently in court battle against a winding-up petition.
Tesoro to sell Hawaii operations for $75 million Refinery to operate as separate company.
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