Insurers urged to press for better firefighting systems Protection on many vessels is out of date, IUMI conference is told
China's shipbuilding shakeup will strengthen appeal to buyers Yards are braced for painful adjustments but will emerge leaner and fitter
Höegh LNG looks for gas carrier newbuildings Norwegian owner must amend bondholder agreement
Insurers highlight the risks attached to salvaging larger tonnage Industry demands specialist equipment to discharge boxes and tackle rising costs
Offshore energy insurers fear softening market Despite a strong year, the sector's capacity is increasing and rates are falling
Insurers debate the pros and cons of modelling Experts disagree over whether new tools can improve marine underwriting
Wreck-removal memorandum tackles the cost of meddling governments International Group blames interfering states for delayed salvage and spiralling bills
Greece needs 'blue strategy' to unlock Chinese investment Maritime policy a priority under Greek EU presidency, says Mihalos
Spill could spur Matson exit from molasses MATSON will quit the molasses business, it says, if it decides that repairing its pipeline in Honolulu would be too expensive
Gunvor lent $675M GUNVOR has been granted a $675M loan to refinance existing debt and pay for work at its Ust-Luga oil products terminal
Capesizes hit three-year high CAPESIZE rates rose almost $3,000 yesterday to $32,945/day, just short of a three-year high
Alaska loses legal fight A US DISTRICT court judge has dismissed a suit by Alaska seeking to bar the federal government from enforcing emission control area rules on ships in the state's waters
KHI mulls building LNG carriers in China KAWASAKI HI said it could build LNG carriers at its JV yards in China with COSCO group by 2018, if huge orders arrive
PGS accused in patent row PETROLEUM Geo Services, an Oslo-listed seismic survey vessel owner, has disclosed a complaint filed against it by Western Geco
Banks back U-Ming order TWO BANKS will provide financing of about $81.1M for three post-Panamax bulkers that U-Ming Marine Transport ordered at Oshima Shipbuilding
Kuwait abandons Hormuz pipeline bypass KUWAIT has abandoned a plan to build an oil export pipeline to bypass the Strait of Hormuz, it was reported today
Study urges Finland to halt maritime aid FINNISH grants to aid shipping and shipbuilding should be abolished, a report to its government has urged
S Korea/China commodity cargo duties to be lifted MOST COMMODITY cargoes between South Korea and China will soon be transported without duty
Keppel lands $150M worth of FPSO contracts KEPPEL Shipyard said today it had secured two FPSO conversion deals from repeat clients, together worth S$190M ($150M)
ICTSI, PSA to build box terminal in Colombia ICTSI and PSA International plan to jointly develop, build and operate a Colombian box terminal, they said today
GSI unit to convert VLCCs into FPSOs GUANGZHOU Shipyard International said today its offshore unit has signed a contract with compatriot Chengxi Shipyard (Guangzhou) to convert two VLCCs into FPSOs
Upside seen for DSME in 2014 DAEWOO Shipbuilding & Marine Engineering should enjoy higher earnings in 2014, as newbuilding prices are expected to rise, a sector analyst has predicted
HK puts off sulphur fuel law until 2015 HONG KONG plans to introduce a limit of 0.5% sulphur in bunker fuel for oceangoing vessels berthed at its ports in January 2015, not later this year
Drewry Eastbound Trans-Pacific Rate Falls Further Drewry Container Rate Benchmark, Sept 18, 2013 Full-size image The average spot freight rate in the eastbound trans-Pacific trade dropped $100 per 40-foot-equivalent unit this week. Just $50 remains of the $250 it rose in the week of Sept. 4. An increase of $400 per FEU was originally proposed by the Transpacific...
Average US Intermodal Rate Jumps $34 Overall index, week of September 16, 2013 Full-size image U.S. intermodal rates rose 1.7 percent in the week of Sept. 16, hitting a 29-week high, according to data on all-inclusive 53-foot door-to-door spot pricing quoted by railroads and provided by the 3PL IDS. The overall rate increased $34 this week to $2,066, the largest...
KCS Bullish on Intermodal Growth South of the Border KANSAS CITY - Kansas City Southern Railway's cross-border intermodal volume will continue to expand not just because of Mexican manufacturing growth, but because of the strong advantage rail has over the trucking industry south of the border, said Patrick Ottensmeyer, chief marketing officer at the railroad. He said the railroad, which...
Companies Slam FMC Plans to Overhaul OTI Regulations Companies are pushing back against Federal Maritime Commission proposals to require ocean transportation intermediaries to post larger bonds, renew licenses every two years, and give priority to shippers' and consignees' claims. Nearly all of the approximately 90 public comments submitted on the FMC proposals found something to criticize. Forwarders, non-vessel-operating common...
Zenith Global Logistics Opens Indianapolis Hub Zenith Global Logistics' new Indianapolis hub.Zenith Global Logistics has opened a 90,000-square-foot facility in Indianapolis to handle less-than-truckload freight. The specialized furniture carrier and international third-party logistics provider said the new site will also serve as a full-service 3PL warehouse. "Our new Indianapolis hub will allow for more efficient delivery of inbound...
GAO: Congress Should Allow Extension of PTC Implementation Deadline The U.S. Government Accountability Office has published a report on the implementation of positive train control systems, which recommended that Congress should consider amending the Rail Safety Improvement Act of 2008 to give the Federal Railroad Administration the authority to extend the PTC implementation deadline on a case-by-case basis. Implementation of...
Container Volume Up at Top 10 China Ports in July All of China's top 10 ports of 2012 saw a year-over-year increase in volume of containers handled in July. Tianjin experienced the smallest increase, just 1.0 percent, to 1.09 million 20-foot equivalent units, while Dalian had the largest increase for a fifth straight month, climbing 18.6 percent to 854 thousand...
Rates Good for Shippers But Threaten Carrier Services When ocean shippers look at the fourth quarter, they see good news and bad news: It's good news for them, and bad news for the container lines. The good news for shippers is that freight rates are unlikely to rise on any of the major trade lanes, east-west or north-south. The bad...
China's VAT Vexes Voxx Although freight rates from China to North America may be at rock-bottom levels, China's new 6 percent value-added tax on logistics services isn't just creating a new cost for some shippers. It's also creating a major quandary. That's certainly the case for Voxx International and its recently acquired Klipsch unit, which...
A Problem With No Solution? In my August JOC column, I discussed the nasty environment facing the ocean shipping and international logistics industries ("Shipping's Chain Reaction"). It's nasty because the service providers are continuously fighting a battle to increase, or at least maintain, market share, while simultaneously improving their revenue. Their customers are no less...
STB Adopts Final Disclosure Rules for Rail Interchange Deals The U.S. Surface Transportation Board has adopted final rules establishing disclosure requirements for rail transactions involving interchange agreements. An interchange agreement is a contractual commitment in the sale or lease of a railroad line to a newly created short line or regional railroad that restricts the purchasing railroad from interchanging traffic with...
ICTSI, PSA International to Develop Colombia Container Port Buenaventura is located on the Pacific coast of Colombia. View Larger Map International Container Terminal Services and PSA International have signed an agreement to jointly develop, construct and operate a container port and its ancillary facilities on the Aguadulce peninsula of Buenaventura in the department of Valle del Cauca, Colombia. The deal...
Washington Senators Introduce Legislation to Replace HMT U.S. Sens. Patty Murray, D-Wash., and Maria Cantwell, D-Wash., have introduced the Maritime Goods Movement Act for the 21st Century, which aims to support U.S. ports by replacing the harbor maintenance tax. The harbor maintenance tax is designed to fund the operation and maintenance of U.S. ports, but currently incentivizes shippers...
Amber Road Acquires EasyCargo Amber Road has acquired EasyCargo, a Shanghai-based global trade management solutions provider specializing in trade regulations in China. EasyCargo provides automation to support the Chinese government's regulations for an import regime called Processing Trade, which affects companies that import materials into China and use those components to manufacture finished goods for...
Eimskip Awaits Early Outcome of Dawn Raid Eimskip, the Icelandic shipping and logistics group, failed in a bid to discover the reasons why antitrust officials carried out a dawn raid on its Reykjavik headquarters last week. The Icelandic Competition Authority refused the company's request for information related to the Reykjavik District Court's decision to give it extensive permission...
European Shippers Slam IMO Container Weighing Talks The European Shippers' Council criticized the absence of shippers at talks at the International Maritime Organization regarding the controversial proposal for mandatory weighing of ocean containers before they are loaded on board ships. IMO committees are debating the proposal at the organization's headquarters in London before a final decision is taken...
Air France-KLM to Phase Out 747 Freighters Air France's 747 cargo freighters will be eliminated from its fleet. Photo courtesy Air France-KLM.Air France-KLM is planning a drastic cull of its freighter fleet, one of Europe's largest, as part of a new cost-cutting program. The airline is expected to announce plans today to phase out its fleet of Boeing...
AmeraMex International Acquires Large Container Handlers CHICO, CA--(Marketwired - Sep 16, 2013) - AmeraMex International, Inc. (PINKSHEETS:AMMX), a provider of heavy equipment for logistics companies (stevedoring), infrastructure construction, commercial farming and mining companies, announced that it has acquired 18 large capacity container handlers for complete refurbishment and resale. Once refurbished, the equipment is expected to generate gross sales...
Roadrunner Transportation Systems Recognized as One of Fortune's 100 Fastest-Growing Companies for 2013 CUDAHY, Wis.--(BUSINESS WIRE)--Sep. 17, 2013-- Roadrunner Transportation Systems, Inc., (NYSE: RRTS) a leading asset-light transportation and logistics service provider, announced today that it has been named one of Fortune's 100 Fastest-Growing Companies. Roadrunner appeared on the list for the first time in 2013, ranking No. 28 overall. Fortune developed the list by selecting companies based on...
Saade wants his say French liner giant CMA CGM is taking steps to secure board representation, possibly a majority position, in Global Ship Lease, the containership charter owner it helped set up as an independent company.
NewLead in coal push NewLead Holdings of Greece has made another foray into the US commodities business with the acquisition of a second coal mine in Kentucky.
Lauritzen's cash bid fails Lauritzen Bulkers has failed in its bid to seize cash held by a charterer in a US correspondent bank account.
Seconds for SwissMarine SwissMarine has signed its second period capesize contract in two days as rates in the sector continue to push higher.
Vinashin axing 14,000 Vietnamese state shipbuilder Vinashin is planning to make 14,000 workers redundant as part of its restructuring.
Navios newbies find work Navios Maritime Acquisition has found work for two vessels purchased earlier this year from PB Tankers of Italy.
Francis charged over "bribes" The president of Singapore's Glenn Defense Asia Marine has been charged in the US over an alleged bribery scheme to win ports contracts.
Concordia economics Further signs that London has taken the maritime industry to its bosom were on show today when the city's mayor made endless nautical metaphors in his speech to the annual meeting of the Institute of Directors.
EC rules to hit shipping The European Commission has published draft rules to regulate market benchmarks in a move expected to have wide ranging implications for the shipping industry.
Listing cargoship righted A general cargoship has been righted after developing a list due to a hull leak in Norway.
CSCL bins feeders China Shipping Container Line (CSCL) has sent a pair of 28-year-old feederships to the scrapheap.
Hoegh seeks charter OK Hoegh LNG is asking bondholders to okay a move to bareboat-charter new LNG carriers.
Talk makes Ezra expensive OCBC has slapped a sell tag on Ezra Holdings claiming a speculation-fuelled surge in its share price is unjustified.
Solstad wins Chevron job Solstad Offshore has sealed a subsea construction contract with Chevron that could keep one of its vessels busy for large chunks of the next three years.
Palmali eyes $500m spree Turkey's Palmali Group has lined up a $500m newbuilding drive after buying the inactive TVK Shipyard.
Conversion duo for Keppel Keppel Shipyard has secured a pair of FPSO conversion contracts with repeat customers, including one for the deepest operating floater in the world.
DSD sells again DSD Shipping of Norway is tipped to have sold off a second tanker hit by a Sanko charter default in under a month.
Cameras at the ready Calling all keen amateur snappers - it's time once again to send in your entries for the TradeWinds' Maritime Photographer of the Year competition.
PSA targets Colombia Two Asian ports groups are teaming up to develop a new terminal in Colombia.
Dof in GoM venture Dof Subsea has bagged several subsea contracts for a newly chartered US-based newbuilding.
NWS losses rising Russia's North-Western Shipping (NWS) has posted a bigger first-half loss despite increased revenue.
Iranian volumes to grow Cargo shipments to Iran are set to increase if Europe lifts sanctions against national container line IRISL.
Barclays trims duo Barclays has downgraded both China Shipping Development (CSD) and China Shipping Container Lines (CSCL).
Sasco sold off The Russian government has sold its 25.5% stake in Far Eastern cargoship owner Sakhalin Shipping Company (Sasco).
Long Beach sets record Containerized cargo volume at the Port of Long Beach surged 16% in August compared to the same month one year ago.
Baltic opens in China The Baltic Exchange has expanded its presence in Asia with the opening of its first ever office in China.
TMT lives to fight on TMT looks set to live another day after a US court ruled in its favour in the latest twist in its ongoing bankruptcy case.
Ex-Maersk CEO sacked Former Maersk Line chief executive Eivind Kolding is free for a return to shipping after getting fired by Denmark's largest bank.
Boxship bashes trawler One man is dead and another seven are missing after a collision between a containership and a trawler off Vietnam.
Mexican LSP to use CargoSphere for rate management
Foxx identifies some solutions for infrastructure challenge The new DOT secretary, who has only been in office for 10 weeks, never mentioned freight movement in his remarks, but at the same event a FRA official said the Obama administration wants to invest more in freight rail.
Nova Scotia land sold to container port developer The Guysborough district has finalized the sale of waterfront lands in Melford, Nova Scotia, where Melford International Terminal Inc. (MITI) and its partner Maher Terminals are planning to build a box terminal.
FedEx posts 1Q gains The Memphis, Tenn.-based package delivery and freight transportation company said profit grew to $489 million and operating income reached $795 million, while operating margin edged up from 6.9 percent to 7.2 percent.
OIA Global acquires Bellville International
MSC announces rate hikes from NA to North Europe
CSAV explains blank sailings
Baltic Exchange opens Shanghai office
ICTSI, PSA to jointly develop Colombian port The development of the port located on the Aguadulce peninsula at the port of Buenaventura will be done in three phases. The first phase will yield an annual capacity of 450,000 TEUs with two vessel berth positions.
Costa Concordia righted
Australia allows California, PNW peaches and nectarines
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