Salvors extinguish boxship blaze Teams from Smit and Five Oceans board Hansa Brandenburg for inspection
First Triple-E vessel calls Shanghai during dismal China trade readings Volumes out of Maersk's largest export cluster grew only 3% in the first half
China yards hit by tight credit and currency fluctuations Increased orders cannot counter shipyards' disappearing margins
OOIL posts lower liftings and revenue in second quarter Figures reflect slump in rates between April 1 and June 30
Torm scales back dry bulk business Danish company will focus on its product tankers
Greek shipowners pledge €600m to support ailing domestic economy Voluntary double tax payment agreed with government
More pain for Spain End state shipbuilding support in Europe once and for all
Simatech orders its first newbuildings in eight years Dubai feeder specialist adds bigger ships and develops box terminal in Mogadishu
New Seadrill boss pledges to continue aggressive expansion Offshore driller remains Fredriksen cash cow
The same hymn sheet Shipowners must assume the best and prepare for the worst with the MLC
Scor London chief Newman named as chairman of underwriters' body International Underwriting Association to promote London-based reinsurers and insurance companies
Aframax loads crude at Ceyhan after month-long stoppage to exports Earnings from Ceyhan hit three-month high as exports resume
TMT secures fresh legal win Texas bankruptcy judge allows all Chapter 11 cases but two to stay in the US
CSC Phoenix faces fresh legal action Creditors chase $85m and seek to terminate loan agreements
Samsung Heavy Industries moves further into offshore South Korean giant secures over two-thirds of its annual order revenue target
OOCL reports lower first-half revenues Hong Kong carrier sees volumes dip on transatlantic trade
ICS urges owners to adopt labour convention despite flag state concerns Ship operators must prepare themselves for global adoption of MLC 2006
Pirates attack a second vessel in Gabon's waters Crew of unnamed landing craft unhurt after speedboat gang boarded and robbed them
Rotterdam handles more containers but box tonnages fall Dutch hub blames economic malaise as Baltic feeder traffic shifts to German rivals
Brussels orders Spanish investors to refund tax breaks Backers must repay hundreds of millions of euros after EU ruling on illegal state aid
Bomin Group brings bunkers to Algeciras Trader will deliver low-sulphur fuel ahead of tougher emissions regulations
Tug heads to stricken Hansa Brandenburg Burning boxship drifts northeast of Mauritius
Torm delists from Nasdaq Danish chemtanker outfit cites scale and cost of American Depositary Receipts
Jebsens to abandon Western Australia coastal service Scrapping of twice-monthly schedule is a blow to ports of Wyndham and Broome
Striking an antitrust balance The P3 mega-alliance must navigate Brussels' restrictions with care
What will life be like with P3? Box lines' mega merger has implications for shipowners and competition regulators as well as future rates
Japan's shipyards post soaring orders for first six months of 2013 Export deals rise 200% in gross tonnes
Container KGs buck trend to stay profitable Buss Capital happy with steady positive return
TMT wins US legal reprieve TMT HAS dodged a potentially fatal bullet in its Chapter 11 case in Houston, Fairplay was told today
Ukraine's Zaliv emerges as Bergen owner ZALIV Shipyard of Ukraine today emerged as the owner of a 51% stake in Bergen, the Oslo-listed maritime and offshore builder group
Japan lends up to $1.5Bn to PETROBRAS JAPAN'S export credit agency and other compatriot financial institutions have decided to lend up to $1.5Bn to PETROBRAS
Salvors board fire-savaged box ship SALVORS have brought the fire aboard the box ship Hansa Brandenburg under control, its ship manager said today
Crowley seeks tanker loans CROWLEY is seeking $169M from the US government for two Veteran-class product tankers to be built by Aker Philadelphia
CSSC gains $6.5Bn in another credit facility CHINA State Shipbuilding said it has been pledged a 40Bn yuan ($6.5Bn) credit facility from government-owned Industrial Bank
$6Bn Oakajee plan frozen SHARES in Mitsubishi's Oakajee Corp have been suspended after Western Australia's premier abandoned a final attempt to find it a Chinese equity partner for the $6Bn scheme
China's steel exports boom to SE Asia CHINA had big rises in steel exports to Southeast Asia in 1H13, according to the customs statistics
China opens cheaper box rail link to Hamburg CHINA has launched a rail box link that will enable land transits to Hamburg in less than half the time it would take for ocean cargoes
Nanjing Tanker seals deal with Trafigura NANJING Tanker said today it has sealed a half-year term contract of affreightment with independent oil trader Trafigura
HHL buys more tonnage GERMAN project carrier Hansa Heavy Lift is expanding its fleet this month with the purchase and hiring of more multipurpose tonnage
Keppel gets mixed ratings SINGAPORE-listed Keppel received mixed ratings from stock analysts today after the corporation declared a 47% year on year fall in 1H13 profits, to S$677M ($534M)
Capesize rates soften as charterers resist CAPESIZE demand to ship Brazilian iron ore to China has increased this week, but rates have declined from last week as charterers resisted the recent rally
DSME seals $593M order for drill ship DAEWOO Shipbuilding & Marine Engineering of South Korea said today it has won an order for one drill ship, in a deal worth 665
Aframaxes rates rise east of Suez AFRAMAX rates east of Suez have been firming since last week, on the back of crude and fuel oil movements
Port of Oakland Commissioners Ratify New Board Officers The Port of Oakland's board of commissioners has approved a resolution that officially ratifies the election of new board officers. The board named commissioner Cestra "Ces" Butner president, Alan S. Yee first vice president and Earl S. Hamlin second vice president. Butner is the president, CEO and owner of Horizon Beverage Co....
Drewry Shanghai Export Air Freight Index Decline Slows Drewry Shanghai Export Air Freight Index Full-size image The Shanghai Export Air Freight Index, as reported by Drewry, fell roughly 7 percent year-over-year in June. This drop followed double-digit year-over-year declines in March, April and May. The index is based on the average of all-in rates (U.S. dollars per kilogram) for cargoes of 100-499...
GSP Renewal Legislation Introduced in US House Four members of the U.S. House Committee on Ways & Means have introduced legislation to renew the Generalized System of Preferences through September 2015, before the current program expires on July 31, 2013. The GPS program provides preferential duty-free entry for a variety of goods and inputs from designated developing countries. H.R. 2709 is...
Port of Tampa, AMPORTS Sign Deal for Auto Shipments The Port of Tampa and AMPORTS have signed a letter of intent to develop a new terminal dedicated to the import and export of automobiles and rolling stock. The deal is driven by rising demand for automotive production in Mexico in order to serve U.S. markets, according to the Florida port. "We...
Independent Pilots Association Joins ITF The Independent Pilots Association, a U.S.-based labor union representing 2,600 UPS pilots, has gained membership in the International Transport Workers' Federation. "The IPA's acceptance into the organization is well timed given our ongoing contract negotiations with UPS," said Robert Travis, president of the IPA, in a written statement. "With the resources of...
Ocean Carrier Rate Revision Roundup for July 19 Major container lines have announced rate increases for a variety of trades, as detailed below, slated to take effect in August: Asia-Europe More carriers have planned Asia-Europe rate hikes for Aug. 1: Cosco will increase rates for all shipments from the Far East, including Japan, and the India and Pakistan region to Northwest...
Report: Profit From LTL Shipping Outpaces Truckload, Intermodal Members of the Transportation Intermediaries Association, which represents third-party logistics providers in the U.S., outperformed the economy in the first quarter of 2013, according to the group's "1st Quarter 2013: TIA 3PL Market Report." The report, comprising data drawn from three categories of members based on revenue, represented nearly 1.3 million...
Asian Flu Outbreaks in China, US Slow Poultry Export Growth 2013 has been a roller-coaster ride for U.S. poultry producers. Exports have increased, but haven't lived up to early growth prospects as avian flu outbreaks on two continents have wreaked havoc with demand. The year started on an upswing. In January, U.S. poultry meat exports totaled 370,872 metric tons, up 8.6...
NCSP Group's Container Tonnage Falls 4.6 Percent Novorossiysk Commercial Sea Port Group reported consolidated cargo turnover for the first half of 2013 was 72.1 million metric tons, falling 11.6 percent from 81.6 million metric tons in the same period in 2012. NSCP Group's total container throughput from January to June was about 321,300 20-foot-equivalent units, inching up 0.6...
MetamorpHOSis Trucking seems an unlikely candidate for technological transformation. It is, after all, literally where the rubber meets the road. But the latest changes to federal hours of service rules may be the catalyst trucking needs. The HOS rules that took effect on July 1 are a cause for concern for those...
New HOS Rules Mean Less Flexibility for Shippers Still pondering the latest twist in the truck driver hours of service rules? Sorry, time's up. Eighteen months after they were released in late 2011, the oft-revised and, at least among truckers, much-reviled hours of service rules took effect on July 1. The changes to the 34-hour restart, which must include...
A Truck Driver's Restart Window Narrows Truck drivers now have a narrow time window to hit if they want to actually use the 34-hour restart provision of new hours of service rules within 34 hours. Unless they go off duty between 7 p.m. and 1 a.m. at the end of their week, the restart becomes a...
Forward Air's Profit Falls Despite Revenue Growth Forward Air reported its net income in the second quarter of 2013 was $13.8 million, falling 2.8 percent from $14.2 million in the second quarter of 2012. Total quarterly revenue, however, rose 7.8 percent from 148.3 million in 2012 to $159.8 million in 2013. Quarterly revenue for the Forward Air subsidiary, which...
AMR Delivered Record Performance in Second Quarter The parent of American Airlines, AMR Corp., reported profit in the second quarter of 2013 was $220 million, rebounding from a net loss of $241 million in the second quarter of 2012, although cargo revenue dropped. Excluding reorganization and special items of $137 million, quarterly profit was $357 million, a $262...
JOC-ECRI Industrial Price Index Shows Upward Trend JOC-ECRI Industrial Price Index, week of July 19, 2013 Full-size image A closely watched indicator of inflation increased for the third consecutive week in the week ending July 19, although it remained below its one-year average for the fifth consecutive week. The Journal of Commerce-Economic Cycle Research Institute index registered 122.966 for the...
Further Erosion Seen in SCFI's Asia-Europe Rates Container spot freight rates from Asia to European ports measured by the Shanghai Containerized Freight Index fell further in the week ending July 19, losing more of their achievements from the July 1 general rate increase. This was the third straight week of decreases, pulling total gains from the GRI...
Rotterdam Container Volume Rises, But Total Throughput Drops Rotterdam's container traffic grew 1 percent in the first half of the year, but total throughput dipped 0.9 percent, the first decline at Europe's largest port in three years. The Dutch port handled just over 5.9 million 20-foot-equivalent units, compared with 5.86 million TEUs in the first half of 2012, with...
SCFI: Shanghai-to-US Spot Container Rates Slide Spot container rates to the U.S. East and West coasts measured by the Shanghai Containerized Freight Index declined for a second week in the week of July 19, following a July 1 general rate increase. Currently, the West Coast has held on to a 34 percent achievement of the $400...
TMT dodges bullet Today Makes Tomorrow (TMT) has secured a key victory in the fight to keep its creditors at bay while pursuing a reorganisation in a US bankruptcy court.
Brokers do battle Temperatures were running hot when some top stateside tanker brokers began swapping shops earlier this year.
GHS sees crude opening Global Hunter Securities has urged investors to increase their exposure to the crude tanker sector noting a compelling trade in the near term which could develop into a longer story.
Fesco vetoes buys Russian container line Fesco will not be buying stakes in two terminals companies after directors ditched the plan.
Bonheur better Fred Olsen holding company Bonheur's profit was lifted by wind farm operations in the first half.
ACM execs earn less Lower bonuses have pulled down pay among the top names at London-listed shipbroker ACM.
Inside Scorpio's orderbook Dry-cargo's newest owner Scorpio Bulkers have been coy about the details of its vast newbuilding orderbook.
Arcadia back in Germany Germany's Lloyd Werft has bagged a major follow up conversion job on a P & O cruiseship.
Record for Stena Stena Line has carded record first half figures on its key North Sea route between Harwich and the Hook of Holland.
Bankers running scared We take a look at what was said in the market over the past week.
N Korean crew charged The crew of the North Korean ship Chong Chon Gang has been charged with illegally transporting weapons in Panama.
Deiulemar duo sold Two former Deiulemar LPG carriers have been sold at auction at the third attempt.
Phoenix attacked again Two more banks have taken Chinese bulker owner CSC Phoenix to court over loan repayments.
Juhl exits Intermarine Lars Juhl has quit as managing director of chartering at heavy-lift giant Intermarine due to ill health.
Bergen unites with Zaliv Bergen Group has joined forces with a major European hull builder to strengthen its shipbuilding division after suffering a horror show over delayed newbuildings.
Bank blazing a trail TradeWinds digests the digits making the headlines this week.
Orkney strife goes on Scottish operator Orkney Ferries is running with only two of its three ferries in a pay dispute with crews.
Bibby Offshore stronger UK owner Bibby Offshore has more than trebled annual earnings as revenue jumped.
OOCL sales down Overseas Orient Container Line saw revenue curbed by a tenth in the second quarter.
UANI targets Swede Sweden's Stockholm Chartering says it will respond to claims one of its tankers is calling in Iran.
Standard pays a price The outlook for the Standard Club has been revised to negative by Standard & Poor's as its underwriting performance has slipped below the rating agency's expectations.
Vopak cuts forecast Dutch tanker terminals group Vopak is expecting a little less profit in 2013, but first-half earnings should edge up.
Band of brothers George Gourdomichalis and his brother Stathis have teamed up with some serious people in the investment world for their latest dry-cargo venture.
Aid for Athens Greek owners will dip into their own pockets and hand over $833m to the government over the next four years to help strengthen the state budget.
Halvorsen exits Seadrill Fredrik Halvorsen is quitting John Fredriksen's Seadrill for a new job at a technology focused private equity firm.
Graig inks double UK owner Graig has returned to CSC Jiangdong Shipyard for two more handysizes.
Hat-trick for Daewoo Korea's Daewoo Shipbuilding & Marine Engineering (DSME) has won its third drillship newbuilding contract in a week.
L&B hires salvage firms Leonhardt & Blumberg has hired two firms to handle the salvage of its fire-ravaged containership.
Prospector ties up rig Prospector Offshore Drilling has secured a letter of intent for a jack-up rig on order at Shanghai Waigaoqiao Shipbuilding (SWS).
Handy surge boosts orders Strong demand for handysize bulker newbuildings has resulted in another strong month of orders for Japan's major shipbuilders.
STB revises railroad rate dispute procedures The U.S. Surface Transportation Board's new procedures for gauging the reasonableness of railroad rates removes limits on relief payments on midsized rail disputes and ups the limit on smaller rail rate disputes to $4 million.
OOCL's first half revenue, volume fall Revenue across all the liner carrier's major trades dropped in the first half of 2013, as a particularly hard second quarter took its toll. Revenue as a whole fell 3.7 percent year-on-year in the first half to $2.7 billion.
U.S. Customs seizes switchblade shipment
Cathay to connect Asia, Mexico with freighter During the fourth quarter, the airline will launch twice-weekly Boeing 747-8 freighter service from Hong Kong to Guadalajara. The flight, which will mark the carrier's first Latin American destination, is still subject to government approval.
Amports plans new terminal at Tampa "We believe that Tampa is right in the sweet spot for short-sea shipments out of Mexico. We also believe it will become a gateway port for export finished vehicles," Steven Rand, Amports president and chief executive officer, said.
Weekly global market update A weekly price round up of bunkering hubs from around the world.
Fuel prices end week on high note in the Americas Demand was said to be average in Houston on Friday.
Krill Systems launches new bunkering solution System uses mass-measuring metres to minimise inherent inaccuracies found in two and three phase HFO transfers.
EU support for biofuel on the decline EU voted in favour of capping biofuel production at 5.5% of total energy consumption for transportation purposes by 2020.
UK heatwave shifts attention to hydrogen-powered ferry 'With the arrival of the heat wave, the prize-winning Hydrogenesis has been demonstrated to operate in all weather conditions.'
380 cSt prices flat in Fujairah Cape Town bunker prices make single digit gains.
Prices steady across Europe Margin of change small in most cases.
Second bunker tank at UK port Move is in response to rising demand.
World's first LNG single-fuel cruise ferry in operation Company sees 'enormous' interest in tickets for environmentally friendly vessel sailing between Norway and the EU.
Singapore fuel oil inventories at 11-week low Stocks likely to rise in second half of July.
Asian bunker prices strengthen But increments were small at most key ports.
US lobby group says tanker trading with Iran Swedish ship cited as sanctions breaker.
Scrubber installations 'progressing at full speed' Two out of three planned retrofits underway with minimal extension expected to normal docking time.
Bomin enters Algeciras bunker market Firm supplying 380 cSt bunker fuel and MGO at the port.
WFS 'out of pocket' after STX ruling US judge rules on status of chartered tonnage - to the bunker company's loss.
Vopak estimates flat H1 earnings Limited growth influenced, in part, by terminal start-up delay in Algeciras.
Brazil to renew ageing fishing fleet Focus will be on vessel fuel efficiency.
Reports: Aegean to start Algeciras supplies by September Traders fear increased competition will depress prices.
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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