Competition heats up between giant South Korea shipyards Forget Japan and China - the country's biggest builders keep their enemies close
Egypt to cash in on India's thirst for oil State-owned company books very large crude carrier Patris at $18,000 per day for a year
Strintzis returns to Hellenic Seaways after five-year gap Vardinoyannis steps down from board after quitting as chief executive
Seoul survivor South Korean receivership is a little too easy for some tastes
Maersk made the first move to form P3 alliance Cost-saving initiative signals further box line consolidation
Power ports India's ports show that state backing is not always the answer to maritime industry woes
Torm delists in the US Troubled Danish owner will wind down little-used Nasdaq deposits
MOL Comfort casualty highlights salvage 'gaps' Split boxship insured its hull for $66m with $17m in increased value disbursement
STX Pan Ocean will resume payments necessary to its daily operations Good news for South Korean carrier's bunker suppliers, crew members and ship agents
Capital books up to eight medium range tankers at Samsung Ningbo Evangelos Marinakis' group also eyes capesize project at Jinhai
Class actions pile up against car carriers in US Major lines face price fixing charges as global antitrust investigations continue
Post-panamax boxships feel the squeeze from ultra-large deliveries Number of laid-up vessels in this segment has doubled since last week
Merger talks between Hamburg Süd and Hapag-Lloyd are on hold But Oetker's annual report is upbeat about shipping
Boxship orderbook will fall to 16% of existing fleet by year-end More vessels are delivered than are ordered, despite renewed interest from buyers
Split MOL Comfort is drifting but stable MOL and Mitsubishi Heavy Industries investigate why boxship broke in two
Zeebrugge and Forth Ports sign strategic agreement Improved feeder links play to Belgian and UK players' traffic-flow strengths
DP World lengthens life of $1bn credit facility to 2018 Details of the terms for 12-month extension are not made public
New US ship arrest steps up STX heat A NEW SHIP arrest has piled the pressure on STX Pan Ocean to seek Chapter 15 US protection while it restructures in Korea
Global newbuilding orders hit two-year high NEWBUILDING orders hit 222 ships aggregating about 15M dwt in May, a level not seen since May 2011, shipbroker Golden Destiny said today
Four kidnapped off Nigeria PIRATES in speedboats were reported today to have kidnapped four Indian and Polish crew members off oil supply vessel off Nigeria
Get personal, Skuld urges P&I sector P&I CLUBS need to be closer to their members and learn how they run their day-to-day businesses, Oslo's Skuld told Fairplay today
VLCC owners gain respite VLCCs lifted one-third more cargoes in May than in April, giving tanker owners a respite, a shipping consultancy said today
Yujin to be refunded on two cancelled orders SINGAPORE'S Yujin International said today it would get a full refund for advance payments, plus interest, for two newbuildings cancelled by a Chinese yard
Big boys elbow Panamaxes OWNERS of older Panamax box ships face a "bleak future", with vessels seen as obsolete given more ships arriving that top 10,000teu, a liner shipping analyst warned today
MISC reported to seek $750M loan MALAYSIA'S MISC is reportedly seeking a $750M, five-year-term loan to refinance its existing loan facility
China's newbuilding orders rise 44.2% y/y ORDERS for new ships climbed 44.2% year on year in the first five months of 2013, the China National Association of Shipbuilding Industry said today
Indonesian offshore exemption seen safe INDONESIA'S offshore cabotage exemption is likely to continue, a Thome subsidiary operating in the country told Fairplay
Drybulk snarls ease CONGESTION in major drybulk ports fell last week, as ship delays were lower by 19.6% in major iron ore ports, while major coal ports saw delay days rise by 3%
Shipment rise pushes up bulker rates INCREASING flows of major drybulk cargoes have caused the Baltic Dry Index to continue an upswing this week
Orders put SHI on course RECENT order wins have placed Samsung HI on track to achieving its order win target of $12Bn this year, said analysts
Box ship orders charge ahead BOX SHIP newbuilding orders so far in 2013 have more than doubled from the same period last year as lower prices tempt investors, a UK broker said today
Odfjell sells 49% of tank terminals unit DENMARK'S Odfjell said today it has closed the sale of a 49% stake in its tanks terminals business to US private equity group Lindsay Goldberg
Ship Agents Raise Concerns Over Nehru Port's New Terminal Plan Local agents of container lines have expressed skepticism and concern over a decision by India's Port of Jawaharlal Nehru to develop its fourth container terminal project with "one mega terminal" instead of two separate facilities. "We apprehend that the mega terminal would excite interest from 'fewer' bidders as it would be...
APM Terminals, Ningbo Port to Invest in Meishan Container Terminal Ningbo Port Group and APM Terminals have signed an agreement to jointly invest in and operate berths 3, 4 and 5 at the Chinese port's Meishan Container Terminal. The deal reflects a 75 percent investment by Ningbo Port Group and a 25 percent investment by APM Terminals, the port-operating arm of...
Rail Gains Popularity for Asia-Europe Trade Slow-steaming by shipping lines, the shift of production centers in China inland and the easing of customs barriers in Eastern Europe are rapidly opening up overland transport routes between Asia and Europe. Trans-Russia routes from China into Eastern Europe and the ancient Silk Road via Kazakhstan are all seeing rising volumes....
Neovia Logistics to Acquire MIQ Holdings' Contract Logistics Division Neovia Logistics has signed a definitive agreement to acquire the contract logistics division of MIQ Holdings. The contract logistics business provides warehouse management and fulfillment services, distribution solutions and other value-added supply chain services through a network of nine facilities in the U.S. and Canada. "This acquisition is a great strategic fit...
Tuthill Joins Spectrum Logistics as VP Gregory Tuthill, Spectrum Logistics' new vice presidentSpectrum Logistics and its parent company TOTE Logistics have hired Gregory Tuthill as vice president of the Spectrum team. Tuthill will focus on achieving zero safety incidents, completing the implementation of a new transportation management system, developing relationships with key logistics and maritime customers and...
Port of Tacoma's Container Volume Continues Upward Trend The Port of Tacoma reported container volume in May was 758,071 20-foot-equivalent units, increasing 31 percent year-over-year. The monthly gain reflects the its addition of the Grand Alliance and its associated carriers last July, as well as positive year-to-date growth from established customers, the Washington state port said in a written...
Walsh Gets CEO Job at Port Canaveral he board of commissioners of the Canaveral Port Authority in Florida has unanimously approved John Walsh as the new CEO of Port Canaveral. Walsh had served in the interim role since March as the board sought to replace former CEO Stan Payne. He was hired in February 2011 as deputy executive...
Japanese Exports to US Continue to Surge Japan's exports to the United States rose for the fifth straight month in May on a year-on-year basis, surging 16.3 percent to 1.041 trillion yen ($10.96 billion), according to preliminary figures released by the Finance Ministry on June 19. The pace of growth in Japan's exports to the U.S. in May...
Two More Ships Diverted From Maher Terminals Maher Terminals at the Port of New York and New Jersey has diverted two more vessels to other marine terminals to be discharged, as the terminal operator struggles to get back on track after problems with installation of a new Navis terminal operating system. Seven vessels in total have now...
Report: E-Commerce to Increase Need for Global Courier, Delivery Services The global courier and delivery services industry's revenue is expected to rise 3.5 percent in 2013, according to an industry market research report from IBISWorld. The improvement is driven by an increasing number of individuals with Internet access, enabling more consumers to order goods from e-commerce Web sites, said Lauren Setar,...
IAG Cargo to Boost London-Rio de Janeiro Freight Capacity IAG Cargo adds another freight flight on its London-Rio de Janeiro route.IAG Cargo will offer additional freight capacity between London and Rio de Janeiro. The new flight will bring the weekly total on the Rio de Janeiro route to seven frequencies, adding an extra 42 metric tons of capacity per week....
Maersk Line Sells Pan-European Rail Unit to UK's Freightliner Freightliner, the United Kingdom's second largest rail freight operator, today announced its acquisition of ERS Railways, the pan-European intermodal rail company, from ocean carrier Maersk Line. The companies did not disclose financial terms of the transaction, which is subject to regulatory approval. As part of the deal, Rotterdam-based ERS has signed a...
DP World to Build Terminal at Jawaharlal Nehru The Jawaharlal Nehru Port Trust, a container-handling port in India, and Nhava Sheva Gateway Terminal, a subsidiary of DP World at Jawaharlal Nehru Port, today signed a concession agreement for the development of a stand-alone container-handling facility at the Jawaharlal Nehru Port. Under the deal, a terminal with a quay length...
Infographic: How the P3 Network Stacks Up The P3 Network announced between Maersk Line, Mediterranean Shipping Co. and CMA CGM will bring together portions of the three largest global container ship fleets. The alliance, which is planned for the second quarter of 2014, will enable the three carriers to deploy their largest vessels in the Asia-Europe trade...
Implant Sciences Sells QS-B220 Systems to Major European Airport for Air Cargo Screening WILMINGTON, MA--(Marketwired - Jun 17, 2013) - Implant Sciences Corporation (OTCQB:IMSC), a high technology supplier of systems and sensors for homeland security and defense markets, today announced the sale of Quantum SnifferTM QS-B220 desktop explosives trace detectors to a major international airport in the European Union for use in air cargo screening. The Company...
Port of Long Beach Board Approves Budget, Names Fields as Board President Thomas Fields, the Port of Long Beach's new board president. The Port of Long Beach's board of harbor commissioners has approved a $1.02 billion budget for fiscal year 2014. The port's "aggressive" modernization, with projects such as the Middle Harbor terminal and Gerald Desmond Bridge Replacement, pushed the overall budget up by 6.6 percent...
Europe's Port Sector Talks Focus on Long-Term Success The European Commission's social dialogue committee in the port sector launched today in Brussels with port authorities, terminal operators, dockworkers and other port workers across the European Union. The new committee, which aims to promote discussions and represent both the employers and workers' sides of the port industry, will examine the...
Drewry Trans-Pacific Rate Holds at $1,957 Drewry Container Rate Benchmark, June 19, 2013 Full-size image Drewry's Hong Kong-Los Angeles Container Rate Benchmark remained at $1,957 for a third week in the week of June 19, according to the latest release of the Drewry Hong Kong-Los Angeles Container Rate Benchmark. This comes less than two weeks ahead of the July...
60 sign up Owners of all 60 ships in the US government's Maritime Security Program (MSP) renewed contracts worth $2bn.
Fire out on Triple-E Giant containership Eugen Maersk reported to have suffered fire in three containers in Gulf of Aden.
Not alarmed Master investor Wilbur L Ross was midway through a live video address to New York's Marine Money office from his London conference room when a woman's voice drowned out his.
BDI pushing 1,000 The Baltic Dry Index (BDI) is nearing the 1,000 mark, a level not seen on the spot market indicator since early December.
P3 to dominate JP Morgan has backed the new P3 tie-up between Maersk, MSC and CMA CGM to become a "giant" of the industry, with some Asian lines losing out.
Nordic thrown a lifeline Creditors have again given Nordic Shipholding more time in its ongoing quest to find fresh investment or face being wound up.
Braemar on track London broker Braemar Shipping Services has shrugged off some recent high-profile departures and said it is trading in line with expectations so far this year.
Tanker needs a tow An Indian court has approved the salvage of a drifting Pratibha Shipping tanker off Mumbai.
CSAV closes on $500m Compania Sud Americana de Vapores (CSAV) has fired the starting gun on a huge fundraiser to finance its fleet expansion.
NewLead admits nickel pickle NewLead Holdings has admitted that a coil of nickel wire, which it tried unsuccessfully to use as collateral to secure financing, was grossly overvalued.
Greek appetite grows Greek shipowners have recorded their most prolific monthly newbuilding spree in over four years, according to broker Golden Destiny.
Liu gets the chop The general manager of struggling Chinese owner Sinotrans & CSC has been removed from his post.
STX PO slide goes on Struggling Korean bulker owner STX Pan Ocean has seen its shares plunge again on Wednesday, the second day of trading since it filed for court rehabilitation.
Siem to order PSV Norway's Siem Offshore is set to order a new large platform supply ship (PSV) backed by a long-term charter to Shell.
Eight acquitted Eight Russian crew have been cleared of weapons smuggling in Nigeria, but seven colleagues remain on trial.
HHI orders up by over 50% Hyundai Heavy Industries (HHI) has seen shipbuilding orders rise by over 50% during the year to date.
Bergen awaits ruling Norway's Bergen Group expects a judgement next month in its legal battle over a late hull delivery from Poland.
Adour officer released A French officer has been freed after being seized from a tanker off Togo.
NOCC ties up two Norwegian Car Carriers has signed new time charter contracts for two of its wholly owned vessels.
Seroja and LDA split Seroja Investments, the Indonesian bulker owner, has terminated a shipping joint venture with Louis Dreyfus Armateurs (LDA).
Cosco's X factor China's Cosco Shipyard Group is lining up an order for two drillships from a Texas newcomer.
Korea's citadel order Korea has ruled that domestic vessels plying pirate-infested waters must install a citadel from 19 June.
MHI starts Comfort probe Japan's MOL said it has started working with Mitsubishi Heavy Industries (MHI) to find out why the MOL Comfort broke in two in the Indian Ocean on Monday.
FSL beefs up board First Ship Lease Trust (FSLT) has looked to bolster its board with the appointment of a veteran lawyer and a restructuring expert.
Conti books eight Conti Reederei has reportedly ordered up to eight ultramax bulkers at China's Jiangsu Hantong Ship Heavy Industry.
STX ship arrests mount Embattled South Korean shipowner STX Pan Ocean has had another ship arrested - this time in the US.
DOT releases $15.6 million for I-5 bridge repair The funding follows $1 million in quick release emergency relief from the department provided the day after the collapse. The Washington State Department of Transportation will use the funds to build a new replacement span.
U.S., Canada to expand cargo pre-clearance to Peace Bridge
Concrete sector raises HOS issues in House hearing "Every day is different in the construction field, thus companies need the flexibility to deliver contract when the customer needs it," said Chandler Concrete Co.'s Jeffrey Dean Hinkle in response to the new federal hours of service rules.
Freightliner buys Maersk's European intermodal operator The intemodal operator said the purchase of ERS supports its strategy of developing businesses in rail markets beyond its base market in the United Kingdom. Financial details of the transaction were not disclosed.
Broken MOL box ship continue to drift The Japanese liner company said it has arranged for a patrol boat, which has already departed from Port of Jebel Ali, United Arab Emirates, to monitor the state of the vessel and cargo and prepare for tow operations.
Expanding capacity will allow LNG bunkering at Polish terminal Work is speeding up on Poland's Swinoujscie terminal.
Hong Kong confirms plans for 0.05% sulphur MGO limit Aims to implement strict limit for MGO supplied in Hong Kong to improve local air quality.
Prices soften in South African hub But stay firm in Fujairah.
Prices seesaw in European hub 380 cSt material drops $7 in Piraeus.
Oil terminal wants more tanks VTT Vasiliko seeks permission for third phase of construction.
STX: Bunker suppliers 'will get paid' STX Pan Ocean says payments for bunkers and crew will resume.
Japan's bunker sales fall again Long-term fuel oil demand expected to decline.
Study questions effectiveness of current global sulphur limit Reduction of global limit having negligible impact on marine fuel sulphur emissions, despite good compliance record.
Ferry company to undergo 'fundamental reorganisation' High fuel prices and competition from low-cost airlines cited as factors in major reorganisation.
IFO prices resume climb in Asia Smooth supplies reported across key ports.
WFS arrests STX Pan Ocean vessel Pos Leader is the latest in a series of arrests.
Panama bunker sales record marginal growth in Q1 More ships bunkering at Pacific end of the canal, according to the Panama Maritime Authority.
'New possibilities' in ship design with wider Panamax Canal Greater canal width will allow naval architects to design more efficient vessels.
Bank clinches LNG supply deal in Baltic region Move comes ahead of start of operations by small-scale terminals in the Baltic and Scandinavia.
Top speed confirmed for LNG-fuelled ferry Francisco has achieved lightship speed of 58.1 knots with full load of fuel, says Incat.
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