Why shipowners are being forced into environmental caution The early bird does not always benefit when it comes to green technology
For better or for worse Shanghai needs Beijing or Hong Kong to complement it as a world-class maritime hub
Newbuildings fuel concern over China moves to control LNG supply chain Russia positions itself to partner Beijing's drive for gas
Will Frontline 2012 destroy itself and bring the market down with it? Business sense, bravery or bravado - what drives tanker giant's ordering spree?
China Shipping Development to book 10 large LNG carriers this year Tanker and bulker firm bets on rising home-grown demand
IMO box weighing proposal suffers Dutch setback Opposition in parliament sees The Hague withdraw support for mandatory move
Zim pays $55m to cancel five giant boxships Samsung Heavy Industries retains part of $85m deposit
UK shipping wins campaign for policy co-ordination Work begins on strategic partnership between industry and government departments
CKYH transpacific shake-up throws rate increases into doubt Other lines add capacity to the trade
DP World delivers record operating profit margin Ports giant boosts terminal utilisation and cuts its debt
Afro-optimism wanted Africa badly needs port investment - and the confidence to deliver it
Ultrabulk spreads its risk for 2013 Market growth supports strong customer contracts says Danish-Chilean group
Zim agrees Asia-US east coast transpacific deal with G6 Israel-based carrier will deploy five ships
A calculated risk Frontline 2012's 53-newbuilding orderbook is sound - and bold
Sinotrans & CSC chief pledges to observe market rules Nanjing Tanker will be suspended if it reports a third consecutive year of losses
Star Bulk improves its annual figures Greece-based bulk outfit cuts operating costs by 25%
CMA 2013: Sekimizu calls on states to help shipping to meet tougher SOx rules IMO chief says policymakers must support switch to lower sulphur emissions
CMA 2013: Are eco-ships necessary when slow steaming still rules the waves? True benefits of fuel-efficient engines are only apparent at top end of speed spectrum
CMA 2013: Caution urged over Africa dry bulk hype Continent's logistical constraints limit vessel demand
CCL axes a dozen more cruise itineraries CARNIVAL Cruise Lines has cancelled 10 more voyages for Carnival Triumph and two voyages for Carnival Sunshine as the company embarks on a fleet-wide redundancy overhaul
Uranium cargo plans ignite reef debate QUEENSLAND'S government has decided to allow uranium mining to resume in the state, sparking fresh fears about knock-on dangers to the Great Barrier Reef
NCSP boss forced out NCSP's CEO has been forced out, after Russian prosecutors said he faces corruption charges
US sees growing cyber threat MARITIME infrastructure could be vulnerable to a cyber attack if left unaddressed, the US Coast Guard has warned
Many dead as ferry capsizes A FERRY carrying 166 people capsized off the coast of Nigeria, Reuters reported today
China's offshore wind potential assessed CHINA'S offshore wind power capacity could be developed to reach 750GW, the Breakbulk China 2013 conference has heard
China's coal future shifts STX PAN Ocean predicted today that China's coal supply shortage will be eased by 2015
Ningbo plans ro-ro scheme NINGBO will invest 800M yuan ($125M) in a bonded new ro-ro terminal, the China Ports Association said today
Bulker volatility debated MINERS disagreed about bulker market volatility at the Global Iron Ore & Steel Forecast conference in Perth
More FPSO orders seen for Bumi Armada AFTER a quiet 2012, FPSO contracts for Bumi Armada are expected to pick up this year, CIMB analyst Norziana Mohd Inon said today
Drybulk port snarls ease DRYBULK congestion is easing with delays falling at Australian iron ore and coal ports
Havila notes raise $25M HAVILA Shipping, the Oslo-listed offshore services vessel owner, said today it has finished issuing 150M kroner ($25M) in senior unsecured notes
Oil spilled off Shanghai A CMA CGM box ship and a Chinese bulker have collided off Shanghai, according to Shanghai Maritime Safety Administration
HMD profits drop predicted HYUNDAI Mipo Dockyard's 1Q13 profits might plunge by up to 69% year on year because of lower vessel prices, analysts warned today
Ultrabulk expanding fleet DANISH bulker operator Ultrabulk, seeking to increase its fleet, has agreed to take in two 61,000dwt Supramaxes on long-term charter upon delivery from a Japanese builder
Shippers Warned: Prepare for 'Roller Coaster Ride' The lingering economic recession in Europe will set off a cascading of vessels that will result in another year of volatile freight rates in the U.S. import trade from Asia, according to an international maritime industry analyst. "Get ready for a roller coaster ride," Lars Jensen, CEO and partner at SeaIntel...
GAO's Jones Act Report Is Inconclusive Repealing or amending the Jones Act cabotage law might cut Puerto Rico shipping costs but would have "highly uncertain" impact on competition and the U.S. shipping industry, the General Accountability Office says in a new report. The GAO report on the Jones Act and its impact on Puerto Rico was requested...
Toll Global Forwarding Names Chinery UK Air Freight Director Toll Global Forwarding has appointed Paul Chinery as director of air freight for its U.K. operations. In his new post, Chinery will be responsible for developing the logistics company's air freight business and will manage all aspects, including carrier negotiation. He will also directly control the company's main U.K. air freight...
Costamare Takes Delivery of 8,827-TEU MSC Athens Costamare has received delivery of the MSC Athens, an 8,827 20-foot-equivalent unit vessel built by Sungdong Shipbuilding and Marine Engineering in South Korea, commencing its 10-year timecharter with Mediterranean Shipping Co. It is the first of 10 new vessels on order, said Gregory Zikos, chief financial officer of Costamare, in a...
DHL Express Launches Malaysia-Hong Kong Service DHL Express has increased its cargo capacity by 30 percent with the addition of its new A300 freighter service in Penang, Malaysia. The logistics company's new A300 service, which operates five times weekly to Hong Kong, also connects to DHL's nonstop service from Hong Kong to Los Angeles. "As a new generation...
CEVA Logistics Launches China-Europe Railway Service CEVA Logistics has launched a new China-to-Europe railway service. The supply chain management company's new China-Europe rail service connects Suzhou in China with the Netherlands. The total transit time is about 28 days, covering an 11,000 kilometer (about 6,835 mile) northern route moving from China, across Russia, to Europe. The new route...
Bahri to Call at Port of Jacksonville Bahri adds Jacksonville, Fla., to its regular liner service.Bahri, formerly known as the National Shipping Company of Saudi Arabia, has added Jacksonville, Fla., to its regular liner service schedule. The addition coincides with the newly arrived general cargo vessel, the Bahri Abha, which will be used to connect the U.S. with...
AAPA Honors US Reps. Hahn, Poe U.S. Reps. Janice Hahn, D-Calif., and Ted Poe, R-Texas, co-founders of the bipartisan PORTS Caucus, were presented with the American Association of Port Authorities "Port Person of the Year" award at the association's annual spring conference in Washington. Hahn and Poe were selected to receive the annual award based on their...
Studies: Canal Expansion Will Strain Regional Infrastructure Countries in Central America, the Dominican Republic and Belize must "dramatically" improve their intermodal road and port network infrastructure, as well as the quality of their trucking services, and strengthen their institutional coordination, in order to cope with the larger vessels that will transit through the Panama Canal when its...
Trucking Tonnage Index Edged Up in February The American Trucking Associations' advanced seasonally adjusted For-Hire Truck Tonnage Index increased 0.6 percent to 123.6 in February, after increasing 1 percent in January to 123. February was the fourth month in a row showing an increase in tonnage. Over the last four months, tonnage cumulatively increased 7.7 percent. Compared with February...
New Orleans Seeks Private Funds for Terminal Expansion The Port of New Orleans is seeking private funds to help complete its planned $580 million Napoleon Avenue Container Terminal expansion, the Thibodaux Daily Comet reports. The port is unlikely to get entirely private funds for the project's third and final phase, but officials do not expect the state to provide...
Senate Committee Unanimously Passes WRDA Bill The Senate could vote on the Water Resources Development Act as soon as April, after the Environment and Public Works Committee unanimously approved the bill today. The port and inland waterway authorization bill was last passed in 2007. The most recent version of the bill aims to prevent the siphoning of...
Mixed Results for US Meat Exports in January In January, U.S. beef exports continued the trend shown in 2012 with higher export value on lower volume, while pork exports improved slightly from December 2012's levels, but remained behind year-over-year, according to statistics released by the U.S. Department of Agriculture and complied by the U.S. Meat Export Federation. Monthly beef...
Hapag-Lloyd to Increase Asia-Persian Gulf, Red Sea Rates Hapag-Lloyd will increase rates on its trade from East Asia, excluding Japan, to the Persian Gulf and the Red Sea, starting April 15. The hike will be $300 per 20-foot-equivalent unit....
Cargolux Launches Texas-Luxembourg Service Cargolux Airlines International is launching its first freighter flight connecting Dallas/Fort Worth International Airport to Luxembourg. The twice-weekly operation will be operated with Cargolux's new 747-8 freighters. The new service is routed from Luxembourg to Baku, Azerbaijan, then Hong Kong, and finally DFW Airport. The flight returns to Luxembourg after arriving at DFW...
Drewry Benchmark Rate Gives Up 2013 Gains The continuing weakness in U.S. import demand and the specter of too much vessel capacity undermined average spot rates on the eastbound trans-Pacific this week for the fourth week in a row. Drewry's Hong Kong - Los Angeles Container Rate BenchmarkRate per 40-Foot Container and Week-to-Week Percent ChangeSource: Drewry For a larger...
Canadian National Relocates Forest Products Transload Facility Canadian National Railway has moved its forest products transload facility to North America Stevedoring Company's operation at the Port of Chicago. The new transload facility is larger than the one it replaces and features more than 200,000 square feet of indoor storage, as well as outdoor space. It is about 13...
Con-way Freight, Big LTLs Steer Into 'Headwinds' Winter storms, new technology and other expected and unexpected costs may carve $14 million from Con-way Freight's first quarter earnings, but the less-than-truckload trucking company said yield, a measure of pricing, is rising, despite lower tonnage levels. Con-way also reported progress on initiatives designed to improve pricing and optimize its...
HSH Nordbank Shareholders Increase Guarantees The two main shareholders of Germany's troubled HSH Nordbank have raised their guarantees to the world's biggest shipping bank to 10 billion euros ($13 billion). The federal states of Hamburg and Schleswig-Holstein, which together own 85 percent of the bank, have restored the guarantees to their level during the peak of...
Zim Sets North Europe-East Mediterranean Rate Increases Zim Integrated Shipping Services will increase rates on its trade between North Europe and the east Mediterranean, starting April 14: Eastbound from North Europe to Israel, the hike will be $75 per 20-foot-equivalent unit. Eastbound from North Europe to Egypt and Cyprus, the hike will be €50 (about US$64.76) per TEU. Westbound from...
Container weighing proposals suffer Dutch setback THE Dutch Government has reversed its support for the mandatory weighing of containers in another setback for proposals set for discussion at the International ...
US truckers still rolling but sequestration threatens The American Trucking Association's [ATA] seasonally adjusted For-Hire Truck Tonnage Index - a barometer of the economic health of the world's largest economy - ...
CMA CGM aims to cut net debt by $1.1bn in 2013 CMA CGM aims to cut debt by $1.1bn this year after swinging emphatically back into the black in 2012 with a net profit of $361m and a return on invested capital ...
CKYH transpacific service restructure contributes to rate increase doubts The CKYH Alliance has unveiled plans to restructure its Asia-US east coast services in a move which contributes to doubts over April's planned rate increases on ...
DP World delivers record operating profit margin DP World recorded a record operating profit margin and revenue increases last year on the back of strong operational performance and careful asset and financial ...
Zim agrees Asia-USEC transpac deal with G6 Israeli ocean carrier Zim Lines has confirmed its participation in the newly combined transpacific G6 alliance's Asia - USEC trans pacific offering which received ...
Principal down on orders The boss of private equity-backed and recently expansive Principal Maritime Management has appeared to rule out newbuilding orders.
Set to sting New York-based Scorpio Tankers still has sting in its tail, and is ready to firm up more orders in the LR2 sector over the next days and weeks, tanker market sources said this week.
Shaode shows gas hand China Shipping Development has confirmed it is close to penning a huge LNG newbuilding order alongside Mitsui OSK Lines.
Bugbee turns to God Believing in "eco" ships is like believing in God, Robert Bugbee told a Connecticut Maritime Association audience today.
Wilson Sons triples profit Brazil's Wilson Sons has posted a near three-fold rise in fourth quarter earnings despite revenue remaining flat.
Yinhua stake up for grabs A Chinese investment fund is cashing in its 49% holding in a China Shipping Development Corp (CSDC) bulker unit.
Ultrabulk back in black Ultrabulk pushed back into the black in 2012 after spending the previous two years in the red.
Stealth ship caught A StealthGas vessel ran into detention trouble in the UK last month, authorities reveal today.
Solstad's term trio Norway's Solstad Offshore has fixed a modern supply ship to BG for two years, while two other units also won shorter-term deals.
Pittas pockets less Euroseas has tied up a trio of boxships and a dry cargo vessel on lower value period deals.
ASL goes for bonds Singapore's ASL Marine is selling SGD 100m ($80m) of four-year bonds from Wednesday.
Boxship struck off China A CMA CGM vessel has taken on water after colliding with a bulker off the coast of Shanghai.
Trogir sale cleared Croatia can privatise Brodotrogir shipyard in July after winning permission for a EUR 370m ($477.5m) aid deal.
Knightsbridge bulks up John Fredriksen's Knightsbridge Tankers has confirmed its exit from tankers as it ordered two new capesize bulkers in Japan.
SBM eyes more in Brazil SBM Offshore could soon be in the market for another second hand VLCC if talks to build two more floating storage and offloading units (FPSOs) bear fruit.
GE offloads oldie India's Great Eastern Shipping has found a buyer for a 1988-built products carrier.
Samsung seals LNG deal Korean shipyard Samsung Heavy Industries has signed a conditional financing deal with Nigeria LNG (NLNG) for four gas carrier newbuildings.
KfW comes up with cash German lender KfW IPEX-Bank is financing Dutch owner RollDock's two new "flo-flo" ships.
Capital could boost payout A double containership purchase coupled with the pending renewal of a string of tanker contracts could see Capital Product Partners lift its dividend.
Solstad sells oldie Solstad Offshore has agreed to sell one of its oldest anchor handling tug supply vessels (AHTS) after a two-year charter deal.
Havila harvests notes Havila Shipping is NOK 150m ($25.72m) to the good this morning after its latest fundraiser.
DP World doing better Dubai ports group DP World has revealed a 10% jump in net earnings for 2012.
Evergreen "optimistic" Taiwan's Evergreen says it is optimistic about container shipping in 2013.
Shake-up for Sinotrans China's Sinotrans group intends to restructure its merged operation with CSC to cut internal competition.
Sumitomo tipped for tanker Japan's Sumitomo Heavy Industries is said to have won a deal to build a new eco aframax.
Boxship demo still strong Containership owners look to be taking advantage of a spike in demolition prices to offload suplus tonnage.
Ezion keeps busy Ezion Holdings has continued its series of long-term contract wins securing its third deal in a month.
Jackson back for more Jackson Offshore Operators has returned to BAE Systems' shipyard in Florida to order two more PSV newbuildings.
Flaminia heads for repairs Romania's Daewoo-Mangalia Heavy Industries is to carry out repairs to NSB Niederelbe's fire damaged MSC Flaminia.
NEWSFLASH: GAO report analyzes Jones Act's impact on Puerto Rico trade The Government Accountability Office Wednesday released a report on shipping between Puerto Rico and the United States and possible modification of the Jones Act requirement that vessels participating in the trade be registered in the United States, crewed by U.S. citizens, and built in a U.S. shipyard.
Profitable in 2012, CMA CGM expects same in 2013 The French liner company is anticipating similar profitability despite a poor economy in Europe and supply-demand equilibrium, which CFO Michel Sirat said is still "a bit shaky" for the container shipping industry.
Halifax says G6 will use big ships in Asia-East Coast service "Halifax has been targeting this type of Asian service as part of our container growth strategy. This service plays to our port's strengths including transit time advantages via the Suez Canal," said Port President and CEO Karen Oldfield.
DP World sees profit grow 10% in 2012 The terminal operator said higher revenue was "driven by strong growth in the Middle East, Europe and Africa region representing our ability to improve revenue from both our container and non-container operations."
What if?: Drewry's analysis of Suez Canal closure scenario
Crowley adds Saturdays to Bahamas service
Bahri adds Jacksonville port call The National Shipping Co. of Saudi Arabia (Bahri) will add the Port of Jacksonville to its liner service schedule. The carrier's newly built multipurpose vessel Bahri Abha will make its first call at the Florida port on April 22.
WTI rebounds after biggest drop in a month US gasoline inventories gained 278,000 barrels last week.
High bunker prices give 'full advantage' to Suez route But ship operators voice concern over toll increases and Egyptian unrest.
Prices falling in Fujairah Mixed price movements in South Africa.
Mid-week bunker prices soften across Europe Rotterdam players 'holding on to their product.'
Canadian firm posts healthy results on acquisitions It had bought up Norwegian firm Statoil Fuel & Retail last year.
Shipping company orders newbuilds in bid for 'fuel efficiency' Knightsbridge Tankers is to have two 182,000 dwt bulk carriers built in Japan.
Broker unconvinced by 'eco' cost advantage Research shows retro-fitting versus newbuild differential to be minimal.
Dan Bunkering offers 'anti-piracy' service Company is working with Danish maritime security outfit.
CMA CGM containership in Yangtze bunker spill Oil traces stretch for '124 nautical miles'.
Asian bunker prices ease Prices soften in Singapore, Hong Kong and Busan.
New player in Abu Dhabi ADPC introduced its new autonomous subsidiary at the World Ports and Trade Summit 2013.
Court adjourns Titan's strike out application The firm is looking for 'an alternative proposal for its corporate rescue'.
Hong Kong bunker supplier exhibits 'strong momentum' NewOcean Energy posts turnover of approximately HK$1.0 billion since start of operations.
'Record' bunker prices push Hapag-Lloyd deeper into red Company spent 9% more on bunker fuel in 2012, compared to previous year.
Rudder control technology SEEMP compliant, says firm The IMO SEEMP stated that 'retrofitting of a more efficient autopilot to existing ships could be considered'.
Siemens wins diesel electric propulson order for PSVs Company claims its proprietary diesel electric propulsion system can reduce bunker fuel consumption.
Ship performance software adds fuel consumption module Other features also added to ESRG's OstiaEdge product.
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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