Fresh orders throw crude tanker upturn into further doubt Samco slams speculative building as nations shore up their industrial base to boost jobs
Industry must support survivors of piracy Charity urges London insurance market to do more to help seafarers and their families
Warehousing repossessed tonnage only delays the inevitable Schemes postpone the crunch but cannot eliminate it, lawyer warns
What goes around comes around A ship finance expert remembers the fall-out for banks from previous downturns
Diana slips to its first loss Investment in Diana Containerships lands expanding owner in the red
What next for the Cosco shuffle? Cosco Pacific will sell CIMC back to its own parent in a deal to help China Cosco
Typhon rethinks its business model as Somalia threat dwindles Private security start-up axes close-vessel protection and eyes West Africa opportunities
Ports gear up for 18,000 teu leviathans Kalmar raises height of six cranes at Antwerp terminal
Maasvlakte 2 opens $194m below budget Reclaimed site is now accessible by road, rail and water, says Smits
Germanischer Lloyd will classify CSCL ultra-large boxships Agreement signed with Hyundai Heavy Industries to build five 18,400 teu vessels
Ceva reports disappointing first quarter Cost-cutting continues as logistics firm restructures its capital
Sincere and Shih Wei results highlight low rates Taipei dry bulk players post mixed fortunes
BLT secures US approval for Indonesia court decision Ruling clears firm to seek enforcement of a Jakarta creditors' agreement
Diana Containerships raises funds Move to expand fleet comes as owner books loss due to impairment on scrapped tonnage
Four box groups combine on CAT loop EVERGREEN Marine, PIL, Sinotrans and Yang Ming have agreed to co-operation on routes from Ningbo to Taiwan and Australia
Baltic Trading plots growth NYSE-listed Baltic Trading today priced a small follow-on offering at a steep discount to raise funds for fleet growth
OXL and Hanssy ally BELGIAN heavy-lift carrier OXL and its general agent Flamar have formed an alliance with Chinese project carrier Hanssy Shipping
APMT's profits drop APM TERMINALS has reported a 27% 1Q13 drop in net profits to $166M, but said this was largely the result of 1Q12 profits being propped up by asset sales
London P&I returns to profits THE LONDON P&I Club today reported a return to profits in the last underwriting year and an increase in free reserves
West of England P&I raises its free reserves WEST OF England P&I club, the mutual liability underwriter, said today it had the highest rate of claims ever in the most recent policy year yet still increased its free reserves
CSCL's ULCS orders seen as 'special case' A CHINA Shipping Container Lines decision to order five ships of 18,400teu should not adversely affect the market, a sector analyst said today
Oz to divert ships away from Ningaloo Reef AUSTRALIA is diverting shipping from the World Heritage-listed Ningaloo Reef, near its Pilbara minerals and LNG export regions
VINALINES to sell 6 ships VINALINES reportedly plans to sell the six remaining ships of subsidiary Vinashinlines by June to help pay debts
EU spill directive nearer AN EU directive obliging offshore oil and gas operators to prove they can meet the cost of damages from an offshore spill is to take effect imminently
Concordia manslaughter trial ordered COSTA Concordia's captain will face a manslaughter trial over 32 deaths caused by the cruise ship disaster, an Italian judge ordered today
Putin orders USC audits RUSSIAN President Vladimir Putin has ordered his new tsar at government-owned United Shipbuilding Corp to conduct audit its dealings to gain a tighter grip on costs
Hamburg accused of nuclear hush-up HAMBURG narrowly escaped a major disaster during a vessel blaze inside the port earlier this month, the Hansestadt's opposition Green Party has warned
Flaminia docks in Romania for decontamination SCORCHED box ship MSC Flaminia has docked in Constantza after a delay of several weeks for clearance from Romanian officials
Navig8 fixes VLCC to BP as spot rates drop TANKER pool operator Navig8 has reportedly chartered out the VLCC Mazyonah to energy company BP for 1-3 months, as spot rates once again regress to unprofitable levels
DHL Supply Chain Opens Warehouse in India DHL Supply Chain has unveiled its new multi-user warehouse in Luhari, India. Spread across 320,000 square feet, the facility, worth Rs. 65 crore (about US$11.7 million), will serve customers from the consumer, retail and automotive industries. Procter & Gamble, a consumer goods company, is DHL's anchor customer at the Luhari site. "We see...
Drewry Trans-Pacific Rate Benchmark Strengthens Drewry Container Rate Benchmark, May 22, 2013 Full-size image Drewry's Hong Kong-Los Angeles Container Rate Benchmark rose $250 this week, achieving almost 63 percent of a proposed $400 per-40-foot-container general rate increase by USL and CMA CGM set for May 21. This followed a six-week slump that saw a total decline of...
Crowley Maritime Invests in Cargo-Handling Equipment Crowley Maritime's liner services group is adding more than 3,000 pieces of cargo-handling equipment to its fleet, allowing the transportation company to expand its services in Puerto Rico, the Caribbean and Latin America. The equipment includes 200 53-foot dry containers, 200 45-foot dry containers, 500 20-foot dry containers, 1,000 40-foot high-cube...
Port of Long Beach Adopts Power Supply Policy Long Beach's Board of Harbor Commissioners has unanimously approved a Port of Long Beach energy policy that will guide efforts for a more sustainable supply of power as demand increases. The energy policy declares that the port will implement measures to boost efficiency, conservation, resiliency and renewable energy in collaboration with...
'E' Awards Honor 57 US Firms for Export Successes Rick and Susan Held of Held & Associates receiving the "E" Award for Export Service from Secretary Blank.Rebecca Blank, U.S. acting secretary of commerce, has honored 57 U.S. companies and organizations that export goods or services at the 2013 President's "E" Awards ceremony, which recognizes significant contributions to increasing American...
Containerized Exports From Europe to North America at Eight-Month High Containerized export volume from Europe to North America reached 322,300 20-foot-equivalent units in March, its highest volume since July 2012 and the second highest volume in this lane since the JOC began collecting this data in January 2011, according to data from Container Trades Statistics, Ltd. Europe to Far East Asia Europe...
Con-way Freight to Build Facility in Wisconsin Con-way Freight will build a new, 96-door freight service center in Fond du Lac, Wis. The $8 million, 47,000 square foot facility will serve as the local hub from which the less-than-truckload trucking company will provide daily local freight pickup and delivery services connecting the greater Fond du Lac metropolitan area...
US Diplomat: Piracy Falling But Progress 'Fragile and Reversible' WASHINGTON, D.C. - Somali piracy is declining as more commercial vessels employ armed guards, foreign navies ramp-up security and courts dish out justice to offenders, but "progress is still fragile and reversible," a U.S. State Department official warned yesterday. Advances in piracy prevention could easily be lost if vessels stop hiring...
Carriers Elevate Rates to Avoid Renegotiating Trans-Pacific Contracts Trans-Pacific container lines got a reprieve from sliding freight rates this week when they put a general rate increase into effect on May 21, but freight rates are likely to continue to slide in the major east-west trades because some carriers continue to slash rates after repeated GRIs in an...
IMPEX Logistics Launches Purchasing Co-op for NVOCCs IMPEX Logistics has launched an ocean transportation purchasing cooperative for small and medium-size non-vessel-operating common carriers. "Over the past 15 years, IMPEX Logistics, as manager of the United Shippers Alliance, has helped more than 150 shippers across the country achieve competitive ocean and [less-than-truckload] transportation rates," said Randy Smith, president of...
DAT Freight Index Sees Steep Drop in April The DAT North American Freight Index fell 16.5 percent year-over-year in April 2013, down to 1488, compared with a record April high in 2012, according to the latest release from DAT. This is the third straight month of declines. DAT North American Freight Index Full-size image The current spot market freight volume slipped roughly...
10 Steps to Improve Discretionary Grant Programs Recent years have seen a strong shift in emphasis toward a more performance-based federal transportation policy in Washington. Performance-based competitive grant programs can be an important component of this shift. A few federal discretionary grant programs, such as TIGER Grants and Transit New Starts, already award transportation funding on a...
MOL Enters Canadian Liner Market Mitsui O.S.K. Lines will begin operating in Canada as "MOL (Canada)," effective Aug. 1. The liner agent agreement between MOL (America) and Montship will expire on July 31. Montship has represented MOL's Canadian liner services for more than 53 years. All other agent agreements between MOL's non-liner divisions and Montship will continue...
MSC to Raise Asia-Europe Rates Mediterranean Shipping Co. will boost rates for all cargo on its route from Asia, excluding Japan and Bangladesh, to North Europe, the U.K., Scandinavia and the Baltics, effective July 1, by $750 per 20-foot-equivalent unit. Maersk Line has also announced a similar rate increase for July 1. MSC will also increase rates for all dry and refrigerated...
Average US LTL Yield Increases 3 Percent Average change in U.S. LTL yield through the first quarter of 2013. Sources: company reports, JOC analyses.Average less-than-truckload yield increased 3 percent in the first quarter among large publicly owned motor carriers tracked by The Journal of Commerce. That rise was the first sequential quarterly increase in the percentage rate of...
Increased IT Spending Drives CargoWise's Americas Revenue Up Despite challenging economic conditions, CargoWise's revenue for the Americas region has increased 34 percent year-over-year in the last 12 months, and the number of users has expanded 47 percent, the logistics technology provider said. Expenditure on enterprise resource planning systems, which were postponed in the first half of the year, are now...
NOAA Report Traces Potential Oil Pollution From Shipwrecks May 14, 1942 - U.S. Army Air Corps photograph of the burning tanker Potrero del Llano. Source: National Archives in College Park, Md.The U.S. Department of Commerce's National Oceanic and Atmospheric Administration has presented to the U.S. Coast Guard a new report that found that 36 sunken vessels strewn across...
Next Phase of Construction Begins at Toledo Industrial Park Overland Industrial Park is expected to be completed by the end of this year.Ohio's Toledo-Lucas County Port Authority, City of Toledo, Lucas County and other officials have held a groundbreaking ceremony for the construction of 1,500 feet of new roadway and utilities at Overland Industrial Park. Overland Industrial Park is a...
DryShips sells newbuildings George Economou said DryShips is in talks with banks to cut debt payments after it sold off a quartet of newbuildings.
Italy looks beyond Solas
Diana dividend secured The threat of a dividend cut at Diana Containerships has been taken off the table for the near term after a pair of liquidity moves, an analyst said today.
Schettino sent for trial Costa Concordia captain Francesco Schettino has been committed for trial on multiple manslaughter charges in Italy.
Reef re-route Australia is asking ships to stay at least two miles from the edge of a protected stretch of coral.
Teekay signs with Statoil Teekay Offshore Partners has agreed a three-year charter contract with Statoil for a floating storage and offloading unit (FSO).
Baltic aims for $20m Peter Georgiopoulos-backed Baltic Trading is aiming to raise $20m through its share sale.
Private equity in at Konig Two US private equity firms have come to the rescue of cash-strapped German KG house, Konig & Cie.
Diana falls into the red Greek bulker owner Diana Shipping has fallen to a first-quarter loss as rates plunged.
Empress revived A former Majestic America Line (MAL) cruise vessel is back in business after being bought by American Queen Steamboat Co.
Judge backs Berlian Laju Berlian Laju Tanker (BLT) has taken the next step on the road to Chapter 15 bankruptcy protection in the US.
GL bags biggest boxships Germanischer Lloyd (GL) has won the race to class the world's biggest boxships at Hyundai Heavy Industries (HHI) in Korea.
Weather worry An investigation into a serious grounding off the UK has found that severe weather warnings are hard for overseas crews to understand.
Better start for BWO BW Offshore appears to have finally shrugged off the financial effects of a delayed floating production storage and offloading (FPSO) unit.
Pipavav picks up duo India's Pipavav Defence and Offshore Engineering has won a "significant" new offshore ship order from an unnamed European customer.
Slower start for DFDS Danish ro-ro group DFDS has posted a bigger first-quarter loss, but increased its annual forecast.
Eitzen Chem on the mend Eitzen Chemical looks to be on the way back to profit after reporting its highest freight rates since the shipping downturn struck.
Farstad offloads oldie Farstad Shipping has offloaded its oldest offshore support vessel.
Viking stuck in the red Finnish ro-pax group Viking Line is optimistic of better results in 2013, but its first quarter loss was up slightly on last year.
Korea's cash boost The Korean government is backing small and medium shipping companies with KRW 2trn ($1.8bn) of funding with help from banks.
China will "help owners" China is eyeing a new range of policies to help domestic owners "escape recession."
Thome Denmark bound Thome Group, the Asia-based shipmanager, is set to open an office in Denmark in a move that may see it manage DIS-flag ships.
SembCorp grabs ARV3 SembCorp Marine has taken control of a converted offshore accommodation vessel over a dispute over payment for work.
Baltic eyes fund raiser Peter Georgiopoulos-backed Baltic Trading has commenced a public offering of common stock, it confirmed Tuesday.
NM introduces Navios Asia All eyes were on Navios Maritime Holdings Tuesday after the Greek shipowner announced the formation of an acquisition vehicle that has its sights set on Japanese-built bulkers.
U.S. investors buy stake in König & Cie "We had to restructure and reorganize and become more like an asset manager, and that is what we did," Tobias K'nig, CEO of the company, said in a telephone interview with American Shipper.
Crowley adds new containers to fleet The ocean carrier's liner services group is adding more than 3,000 pieces of cargo handling equipment to its fleet. The new equipment will be used to serve shippers in its Puerto Rico, Caribbean and Latin America services.
Report: 3PLs see small revenue boost in 2012, similar for 2013
ATA: Truck tonnage down slightly in April
Shipco sets up joint venture in New Zealand
Ecu-Line realigns Asia-Pacific management
U.S. targets trade buildup in Latin America
Concerns about U.S. Merchant Marine aired at hearing Auggie Tellez, executive vice president of the Seafarers International Union, said in testimony the U.S.-flag vessel industry already lost a third of food aid cargo last year because of a change in the MAP-21 transportation law.
U.S., Burma start trade dialogue The United States and Burma have signed a Trade and Investment Framework Agreement (TIFA) on Tuesday, establishing a platform for ongoing dialogue and cooperation on trade and investment issues between the two governments.
Prices mainly soft in Fujairah Good avails in South Africa.
Mid-week prices soft in Europe Good demand in Gibraltar and Piraeus.
Emission averaging scheme firmly rejected at IMO But US and Canada likely to continue to allow such schemes despite widespread objections.
New legal moves ahead of 2014 cold-ironing deadline PMSA bid for more flexibility faces challenge.
Price fixing probe gathers pace 'Trading is extremely complicated and not at all transparent,' says analyst.
IFO prices fall in midweek trading Prices of MGO and MDO were also down in most key ports.
Navy moves forward with hybrid propulsion installations USS Makin Island helped save some $15 million in fuel costs during its first deployment.
EMP to release enhanced vessel energy monitoring system System able to monitor energy produced against fuel consumption to verify savings, says Eco Marine Power.
Lawyer: Hong Kong should make low sulphur fuels mandatory Hong Kong 'should not be worried' about vessels diverting to competing ports, says Holman Fenwick Willan partner.
Tidewater Marine sees profit expand Higher cost of fuel, lube and supplies offset by stronger revenues.
Shanghai exchange could trade 380 cSt bonded fuel oil futures Begins feasibility studies with Guangzhou Twinace Petroleum & Chemical.
ERRV owner invests in fuel-efficient newbuilds New ERRVs will be part of the 'most technologically advanced' fleet serving in the North Sea, claims Sentinel Marine.
Construction of LNG-fuelled tugs 'proceeding well' Despite learning curve involved in the building process, says Sanmar.
Air/gas monitoring system enters Singapore market Sonartrac systems like an 'automated watchdog for cappuccino bunkers', spokesman tells Bunkerworld.
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