Trade Statistics October 2013: Europe Supply and demand gap widens and further weakens rates
German owners look further afield As the KG market dries up and banks become more restrictive, big names are finding new ways to finance ships
Yamal LNG puts Russian gas on the map Competition between landmark export project and US rivals may slash prices
Data Hub: Freight rate indicators Third quarter freight rates lag behind last year and the first quarter of 2013
Why shippers should welcome the IMO weighing proposals Global Shippers' Forum secretary-general hails a flexible compromise
Awilco LNG lands $7m charter contract for 30-year-old gas carrier Vintage tonnage is still in hot demand
CMES quadruples its third-quarter net losses Dismal tanker rates plague state-controlled Chinese carrier
Bourbon pockets $18m on sale of three vessels Offshore vessel leader pushes ahead with fleet renewal
Bargain-hunting stock investors bet on KDB takeover of STX Pan Ocean Parent of bankrupt South Korean carrier sells 17% stake for $69m
Antwerp prepares for its first Triple-E call Mary Maersk diverted from Rotterdam due to APM Terminals industrial dispute
P3 awaits clearance as it prepares world's largest vessel-sharing alliance No port deselections in network of 28 services covering east-west trades
Navigator applies for New York listing Handysize liquefied petroleum gas carrier owner is going public
Capesize brokers grasp at 'reins on a falling market' As rates decline, some still see life in sector's month-long rally
HHI puts Nobu Su car carrier under arrest in Malta B Ladybug, unprotected in Taiwanese owner's ongoing bankruptcy case, has also been arrested by its crew
Shanghai Waigaoqiao wins further capesizes Private Chinese conglomerate Herun orders four capesizes for a reported $54m each
Cosco Corp posts orders worth $403m and a legal fight over a cancellation Singapore-listed giant wins contracts for a jack-up rig, a vessel conversion and a general cargoship
Bocimar predicts strong dry bulk market through 2015 Third-quarter earnings were below those of 2012, but bulk operator eyes a stronger fourth quarter
Ross brings Navigator to Wall Street WILBUR Ross-controlled Navigator Holdings has filed an IPO registration and plans to begin trading on the New York Stock Exchange under the ticker symbol 'NVGS'
COSCO-tied units bag $403.6M in orders COSCO Corp (Singapore), the listed shipbuilding and drybulk arm of giant China COSCO, said its subsidiaries have won $403.6M in orders
Finnlines seeks to distance itself from tank cargo FINNLINES pointed out today that its own checking procedures had been responsible for the detection of embargoed tank parts being sent to Syria from Russia
Bocimar profits restored BELGIAN bulker operator Bocimar said it detected early signs of market recovery in its third quarter, which enabled it to climb out of deficit to $5.38M in profits
Aegean prices bonds AEGEAN Marine Petroleum Network today priced its convertible notes offering to raise proceeds for debt repayment
Ro-pax insurance fix sought RO-PAX ferries should be treated differently from other passenger carriers because of their different risk profile, an insurance broking leader has urged
US-flag funds restored MAERSK Line and other foreign companies flying the US flag have regained a funding cut related to US government-impelled cargo transport
HHI, crew arrest vehicle carrier in Malta A PURE car & truck carrier owned by beleaguered TMT has been arrested in Malta
Ksure providing $360M SOUTH Korean export credit agency Korea Trade Insurance Corp (Ksure) will provide $360M of financing for 21 product tankers being built at compatriot yards
'Crazy, multitiered tonnage supply' for VLCCs VLCC RATES rose three points week-on-week as owners pushed for higher levels amid tightening tonnage in the Persian Gulf
Pacific Basin upbeat HONG KONG-listed Pacific Basin today said its 3Q13 daily profits beat market rates by a premium of 27%
Arbitrator: Baltimore ILA Action Violates No-Strike Clause An arbitrator ruled Friday that an International Longshoremen's Association local in Baltimore violated a no-strike clause in a coastwide master contract covering work on containers and roll-on, roll-off cargo. Dockworkers resumed working cargo covered by the coastwide master contract at Seagirt and Dundalk marine terminals after the arbitrator M. David Vaughn...
STB Extends Deadline for Filings Post-Shutdown The U.S. Surface Transportation Board is extending certain filing deadlines as it strives to get back on track after the 16-day federal government shutdown. Any material due to be submitted to the STB from Oct. 1 through Oct. 16 is now due no later than Thursday, Oct. 24, the agency...
Baltimore ILA Works as Arbitration Continues Striking Baltimore longshoremen resumed working Friday on containers and roll-on, roll-off cargo covered by a coastwide master contract while arbitration proceedings continued, a management official said. Dave Adam, CEO of United States Maritime Alliance, said work resumed on cargo covered by the coastwide master contract between USMX and the International Longshoremen's...
US Beef Export Loss Is Australia's Gain The Australian red meat industry sold record amounts of beef and goat meat to China in August. China imported 19 percent of Australia's total red meat shipments, compared with 4 percent in August 2012. Beef shipments totaled 16,192 metric tons including the product and packaging. Grain-fed beef sales to China totaled...
Complex Logistics Network, Inadequate Infrastructure Hinder Indonesia's Growth As Southeast Asia's largest economy, Indonesia is one of the rising stars on a continent full of them. An archipelago consisting of more than 17,000 islands, it's also one of Asia's biggest logistics challenges. Now it's facing another challenge, a slowing economy marked by rising inflation colliding with an urgent...
'Captain Phillips' and 9 Other Films With Transportation in a Feature Role When "Captain Phillips," Hollywood's take on the April 2009 hijacking by Somali pirates on the Maersk Alabama, debuted on Oct. 11, it thrust the ocean shipping industry into the mainstream spotlight in a way no recent film has. But it's certainly not the first film to do so, and it...
SCFI: Asia-Europe Rates Down for 10th Week Shanghai Containerized Freight Index, North Europe, week ending Oct. 18, 2013 Full-size image Spot container rates from Asia to European ports measured by the Shanghai Containerized Freight Index fell for the 10th consecutive week in the week ending Oct. 18. The spot rate from Shanghai to Mediterranean ports slipped 2.9 percent or $21...
Baltimore Port Strike Continues for Third Day Striking longshoremen continued to shutter the Port of Baltimore for a third day on Friday. Representatives of Local 333 of the International Longshoremen's Association and the Steamship Trade Association of Baltimore met with an arbitrator today on the issue of whether the work stoppage volates the no-strike clause in the coastwide...
SCFI: GRI Unsuccessful in Shanghai-to-US Lanes Shanghai Containerized Freight Index, U.S. West Coast, week ending Oct. 18, 2013 Full-size image Spot container rates to the U.S. East and West coasts measured by the Shanghai Containerized Freight Index fell further in the week ending Oct. 18 despite a proposed Oct. 15 general rate increase. Cosco and CMA CGM had...
Smithfield Foods Acquisition: A Lot of Bacon for China Chinese consumers soon could be in line for a lot more U.S. pork in mainland grocery stores. Shareholders in Smithfield Foods voted Sept. 24 to approve the company's $4.7 billion purchase by Shuanghui International Holdings, the largest acquisition of a U.S. company by a Chinese business. Smithfield processed 27.7 million hogs in...
Maritime execs visit to Jefferson High underscores importance of unique new maritime curriculum TAMPA, Fla. -Leaders of the state's largest port and the world's largest chapter of the International Propeller Club of the United States today visited with Hillsborough Schools Superintendent MaryEllen Elia and several key representatives involved with Jefferson High School's Maritime & Marine Environmental Science Honors Academy, to observe the new...
War of the Worlds At a time when our nation's "reset" with Russia has fallen victim to an increasingly frosty relationship between presidents Obama and Putin, it's easy to wax nostalgic about better days. During the 1985 Geneva summit between President Reagan and General Secretary Gorbachev, Reagan remarked that if the earth faced an...
Container Trade Dips at Port of Kobe The number of foreign trade containers handled by the Port of Kobe in western Japan fell 1.1 percent in the first half of 2013 from a year earlier to about 1.019 million 20-foot-foot equivalent units, according to preliminary figures released by the Kobe municipal government. In the January-June period, the Port...
Revenue Up, Profit Down at India's Blue Dart Express Blue Dart Express, India's leading air express and logistics services provider, reported a net income of Rs. 30 crore (approximately $4.9 million) in the second fiscal quarter, which ended Sept. 30, a decline of 8 percent year-over-year. However, total quarterly revenue surged 12.8 percent from a year earlier to $77.3 million. "In tough...
IMB Reports Decline in Global Piracy But Rise Off Nigeria Global piracy has fallen to a seven-year low, but attacks off the coast of Nigeria have surged by a third, the International Maritime Bureau said. There were 188 piracy incidents in the first nine months of 2013, down from 233 in the same period last year, and the number of hostages...
Drewry Eastbound Trans-Pacific Rate Erodes Further Drewry Container Rate Benchmark, Oct 16, 2013 Full-size image The average spot freight rate in the eastbound trans-Pacific trade lost another $50 per 40-foot-equivalent unit this week, the sixth straight week without an increase. Rates have fallen $350 during this slump. "Slowing demand and excess capacity weighed on rates this week. Drewry expects...
Report: Re-shoring to North America Far From Viable for High-Value Goods Re-shoring, near-shoring, near-sourcing. Whatever you call it, the terms to describe the shift of manufacturing closer to destination markets in North America may be a permanent part of the logistics lexicon and supply chains in general. But for at least one very important segment of the manufacturing world - those making...
AdvanFort team arrested All but two crew members and security personnel on a private antipiracy ship have been arrested in India, its US-based operator said.
Pac Basin beats the market Pacific Basin could be set to unveil a strong set of third quarter numbers after revealing its handysize vessels outperformed the market by over a quarter.
Workers besiege Split yard Workers have blocked the entrances to Croatia's Brodosplit Shipyard as a row over wage cuts escalated on Friday.
Hafnia agrees swoop New Danish shipowner Hafnia Tankers has agreed to buy the tanker fleet of compatriot J Lauritzen, the company confirmed today.
Teekay rings changes Tanker owner Teekay has cut ties with Aon and appointed a new broker to renew its hull cover.
VLCCF stock falls further John Fredriksen's Knightsbridge Tankers has seen its shares drop further after pricing a new stock offering.
Second Glenn man charged A second manager at Singapore shipowner Glenn Defense Marine Asia has been charged in connection with alleged bribery relating to US navy contracts.
CMES stuck in the red China Merchants Energy Shipping (CMES) has continued to rack up losses in 2013.
Yang Ming refinances Yang Ming Marine has raised TWD 5bn ($170m) through a bond sale.
Perils of the sea We take a look at what was said in the market over the past week.
Westports shines on debut Malaysian port owner Westports surged in value on the first day of trading following its initial public offering (IPO).
Iranian headache With a financial restructuring battle underway at TMT, Nobu Su was presented with an extra difficulty from a couple of creditors this week.
Vinalines selling again Troubled Vietnamese shipowner Vinalines is selling off another subsidiary to raise cash.
Almeria pulled free A UK supramax has been refloated off Denmark after grounding on Saturday.
Boskalis in $40m sale Royal Boskalis Westminster has pocketed $40m from the sale of its yacht transporting division.
De Hoop books one Dutch shipyard De Hoop has bagged an order for a platform supply vessel (PSV).
Western Bulk goes below Christen Sveaas-controlled bulker owner Western Bulk has lowered its IPO price to 20% below the bottom end of its previous range.
Hafnia targets cash Danish product tanker company Hafnia Tankers is aiming to raise between $200m and $235m through a private placement in Oslo.
Trio may face arms charges Three Finnlines workers may face charges over a seizure of tank parts in a container bound for Syria.
HHI posturing on price TradeWinds digests the digits making the headlines this week.
Bourbon bins three France's Bourbon has announced it has sold off three older ships as it renews its fleet.
Navigator files for IPO Wilbur Ross-controlled Navigator Holdings has applied to the New York Stock Exchange for its long-awaited IPO.
Allies arrest pirates A multi-national naval task force has arrested a group of pirates suspected of two recent attacks off the coast of Somalia.
Awilco LNG ties up two Awilco LNG has been able to secure short-term charters for its oldest and newest ships, the company confirmed Friday.
LDC invests in Ukraine Louis Dreyfus Commodities (LDC) is investing in a new multi-commodity terminal in Odessa in the Ukraine.
NADL gets bond away North Atlantic Drilling Ltd (NADL) has successfully tapped Norwegian bond investors to raise NOK 1.5bn ($252m).
VLCCF plans stock sale Knightsbridge Tankers plans to issue fresh stock to fund its growth strategy, it emerged late on Thursday.
SWS bags cape quartet Zhejiang Herun Group is the latest shipowner to order capesize bulkers at compatriot Shanghai Waigaoqiao Shipbuilding (SWS).
ABML teams with York Augustea Bunge Maritime Ltd (ABML) is teaming up with York Capital Management in a new dry bulk venture.
US throws MSP a bone An eleventh-hour budget deal to end a US government shutdown also eased the potential for cuts to a military shipping programme.
Jonesing for tankers? Speculation surrounding Castleton Commodities and a campaign to expand its presence in the tanker market appears to have been amplified by the appointment of a new vice president.
NEWSFLASH: ILA Local 333 workers return to port The United States Maritime Alliance's Dave Adam said the return of work pertains to master contract work. That includes the handling of containers and large roll-on, roll-off cargo, though not cars.
ILA strike in Baltimore enters third day The Port of Baltimore said arbitration was expected to begin Friday morning in an effort to end a strike by members of International Longshoremen's Association. The strike began Wednesday and has shutdown public terminals in the port.
Ex-Defense official to be nominated as DHS chief President Barack Obama is expected today to formally nominate former Defense Department General Counsel Jeh Johnson to be secretary of homeland security. Rand Beers has been serving as acting secretary since mid-August.
P3 to announce network details soon Maersk officials said this week the members of the pending P3 Network will submit regulatory filings in Europe, North America and Asia within a week or two, with details of the alliance's planned schedule to be made public soon as well.
Labor action forces Maersk to divert ships from Rotterdam
Construction starts on Savannah port's 'last mile' connector
CSX to build intermodal facility near Pittsburgh
U.S. importers seek long-term AGOA renewal A group of large U.S. retail trade associations have asked the country's lawmakers to renew the African Growth and Opportunity Act for at least 15 years "to ensure the predictability necessary to support trade and investment decisions."
Shanghai FTZ could be 'game changer' for transshipment
Werner 3Q revenues up slightly
Terminal operators bemoan data quality, timeliness
BNSF opens Kansas intermodal facility
Maritime Security Program fully funded
Legislation directs FMCSA on handling of sleep apnea
Navis goes live with N4 at Long Beach terminal
Etihad, Singapore swap cargo space
Correction: Jaxport joins Deep Water Now initiative
Weekly global market report A weekly price round up from bunkering hubs around the world.
Fuel prices in the Americas end week on low note Demand and avails were said to be good in Houston on Friday.
MGO prices flat in Fujairah Prices flat in Suez.
Week ends on soft note across Europe Double-digit falls in some Mediterranean hubs.
More charges as bunker fraud investigation widens US Navy was charged 'inflated fuel prices'.
Bunker alerts highlight lubricity and flash point issues Two alerts from DNVPS.
Asian bunker prices softening on Friday Demand seen picking up at key trading ports.
Monjasa conducted 'thorough due diligence' before offering for confiscated cargo 'Obviously this dispute is between Stena Oil and the authorities in Sao Tome and Principe,' says CEO.
Emissions research facility wins US backing It will focus on engine efficiency and emission reductions.
New ship tracking service launched VesselsValue.com allows users to see vessel movements and asses their value.
Aegean announces offering to raise more funds Offering of convertible senior notes will have a due date of May 1, 2018 for conversion.
LNG bunker trend 'moving fast' in North America 'I am sure there will be a lot more LNG as fuel news coming out soon.'
Hybrid turbocharger undergoes efficiency upgrade High-speed motor added to unit to reduce electric power consumption.
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