Korean banks warned on yard defaults SOUTH Korean banks have been told to grade down loans of struggling compatriot shipbuilders, with defaults from such yards feared
Charred ship ship towed to Port Louis THE CHARRED box ship Hansa Brandenburg has been towed into Port Louis for repairs, a Mauritius National Coast Guard spokesman said today
US cruise bill introduced SENATOR Jay Rockefeller has introduced the Cruise Passenger Protection Act of 2013, which seeks to add a new layer of industry oversight
Box Ships offering struggles THE PERPETUAL preferred equity offering by Box Ships is proving a tough sell, with a downsizing confirmed today and new covenants added on 22 July
Mombasa imports rise to South Sudan SOUTHERN Sudan is emerging as a key transit destination for imports through Mombasa, IHS Supply Chains Solutions told Fairplay today.*Mombasa imports rise to South Sudan
Vard takeover boosts Fincantieri ITALY'S shipbuilder Fincantieri said today it virtually tripled its 1H12 operating results to €101M ($133.3M), from €34M last year
Iran offers insurance for crude to India TEHRAN is offering sovereign guarantees of up to $1Bn per cargo to insure tankers transporting Iranian crude to India, IHS World Markets Energy reported today
Havila returns to 2Q profits OSLO-listed offshore supply and services company Havila Shipping returned to profits in 2Q13, attributing this to a better market "than expected"
Drybulk congestion eases for third week CONGESTION in major drybulk ports have eased for the third consecutive week
Builder to raise HK$20M HONG KONG-listed China Ocean Shipbuilding plans to raise about HK$20M ($2.6M) by selling 200M new shares, it said in a bourse filing
Tanjung Offshore to issue up to 37.6M shares MALAYSIAN offshore player Tanjung Offshore hopes to raise 17.7-22.8M ringgit ($5.6-7.2M) from the private placement of up to 10% (or 37.6M) issued and paid-up shares
Hallin clinches Indonesian deal SINGAPORE's offshore vessel provider Hallin Marine said it has clinched a subsea project in the northwest of Java, Indonesia
NOCC extends hire NORWEGIAN Car Carriers has extended a timecharter contract for NOCC Puebla, a 1999-built 4,287ceu vehicle carrier, with Japan's Eastern Car Liner
Restis Group predicts owner will be 'vindicated' RESTIS Group has predicted that founder Victor Restis will be "vindicated" over allegations of money laundering and embezzlement
APMT, DP World on Short List to Build India Terminal Global terminal operators APM Terminals and DP World are among the five organizations pre-qualified for the contract to build and operate a new container terminal at India's Port of Kolkata. The other shortlisted bidders include domestic port infrastructure major Adani Ports and two joint venture groups comprising Concast Infratech and Hyundai...
Pantos Logistics Partners With China's Bondex South Korea-based Pantos Logistics has signed a memorandum of understanding (MOU) with China's Bondex Logistics. Pantos said the alliance would aid the expansion of its footprint and market share in China as the two companies pooled resources to develop international express, distribution logistics and joint venture investment opportunities. Bondex Logistics boasts 49...
CEVA Creating Logistics 'Campus' in Mt. Juliet, Tenn. CEVA Logistics is creating a campus consolidating several facilities in Mt. Juliet, Tenn. Located in the Mt. Juliet Industrial Park, the logistics company's new 700,000-square-foot facility, known as Beckwith II, provides a new environment for CEVA and the customer on whose behalf the company operates the facility. It combines CEVA's two...
Canadian Pacific's Profit Soared in Second Quarter Canadian Pacific reported its profit in the second quarter of 2013 was $252 million, spiking 145 percent from $103 million in the second quarter of 2012. Total quarterly revenue was $1.50 billion, compared with $1.37 billion in the second quarter of the previous year. In the first six months of 2013, profit...
Marad Awards $9.46 Million in Grants to 12 Shipyards The U.S. Department of Transportation's Maritime Administration has awarded $9.46 million in grant funding to 12 shipyards in 10 U.S. states via the Small Shipyard Grant Program. Paul "Chip" Jaenichen, acting maritime administrator, made the announcement at Jeffboat, one of the grant recipients, located in Jeffersonville, Ind. The following shipyards will...
New Steel Terminal to Be Built at Port of Mobile The Alabama State Port Authority has approved a concession agreement with Alabama Steel Terminals to develop a new $36 million steel coil handling facility at the port authority's main docks complex at the Port of Mobile. The new facility, which will be served by rail, truck and barge, will be constructed...
Smithfield Deal Could Beef Up US Pork Exports High feed prices, low inventories, scientific disputes and a little bit of political protectionism have combined to slow exports of U.S. beef and pork from the blazing pace of the last several years. In its latest export outlook report, the U.S. Department of Agriculture says that slower but steady pattern...
Jaxport, Sea Star Line Conclude New Lease Agreement Sea Star Line has finalized its new lease agreement with the Jacksonville Port Authority, where it has been a tenant for the past 23 years. The term of the agreement is 20 years, with two renewal options of 10 years each. The lease includes the use of more than 52 acres...
New York Container Terminal Gets Break on Bridge Tolls New York Container Terminal and the Port Authority of New York and New Jersey have agreed on a plan to offset the impact of bridge toll increases that have raised truckers' costs and reduced cargo volume at the Staten Island terminal. The agreement provides a lifeline to NYCT, the only major...
US Takes a Wrong Turn on Auto Exports One of the most interesting aspects of practicing international trade law is you never know what issues you'll confront, particularly those that are really off-the-wall. By way of illustration, it became public in April that the U.S. government is conducting a criminal investigation into companies - not automakers - that purchase...
Consolidation in a New Era Since restarting my consulting practice four years ago, I've confirmed one of the advantages of this working lifestyle that I had believed to be true: I have more time to pursue special and personal interests. Of the personal interests, the main ones are the ability to be more available to...
Transport Canada Issues Rail Safety Directive Transport Canada has issued an emergency directive to boost rail safety following the train disaster in Lac-Mégantic, Quebec, on July 6. The directive, pursuant to section 33 of Canada's Railway Safety Act, requires all operators to ensure that no locomotive attached to one or more loaded tank cars transporting dangerous goods...
Chapman Freeborn, Swiss WorldCargo Sign Air Freight Deal Russi Batliwala, CEO of Chapman Freeborn, and Oliver Evans, chief cargo officer of Swiss International Air Lines, signed the cooperation deal in Zurich, Switzerland.Chapman Freeborn Airchartering and Swiss WorldCargo have entered into a partnership to enhance their cargo offerings. As of July 1, 2013, the aircraft charter specialist is supporting Swiss...
Truckers: Customers 'Fed Up' With NY-NJ Delays Drayage industry leaders say the Port of New York and New Jersey faces the loss of cargo to rival gateways unless it can end delays that have produced seven consecutive weeks of long truck lines outside container terminals. Customers "are getting fed up," said Jeff Bader, president of Golden Carriers and...
University of Tennessee's Dr. Paul Dittmann Named to Kenco Board of Directors CHATTANOOGA, Tenn.-July 23, 2013 (James Street Media Services)-Dr. J. Paul Dittmann, executive director of The Global Supply Chain Institute at the University of Tennessee, has been named to the Kenco Board of Directors. Kenco is a leading provider of distribution and fulfillment, transportation services and intelligent information technology. Jane Kennedy Greene,...
IBIA Hong Kong convention focuses on Asian growth The 2013 IBIA Annual Conference in Hong Kong this November will be examining whether or not Asian economic growth will be enough to fuel a global recovery in the bunker markets. Sales of marine fuel oil have been weak worldwide due to slow economic growth, a sluggish shipping market and...
Ryder helps Matthew Clark reduce delivery costs Ryder has supplied 13 custom-built DAF CF 26-tonne and LF 21-tonne and 18-tonne vehicles to Matthew Clark, the UK's largest national drinks wholesaler, as part of the company's plan to upgrade and increase the carrying capacity of its fleet to significantly reduce its delivery costs. The ultra low height 6x2 rear...
Global4PL Announces Major Global Supply Chain Contract Proving Importer of Record / Exporter of Record (IOR-EOR) Services MILPITAS, CA--(Marketwired - Jul 23, 2013) - Global4PL Supply Chain Services, an industry leading supply chain consulting and global trade management company, announced today that an undisclosed Hi-Tech Fortune 500 company has selected Global4PL to provide Importer/Exporter of Record and RMA depot services in Latin America and Asia, including the...
Mind the gap The US Maritime Administration (Marad) on Wednesday announced plans to issue nearly $10m worth of grants to domestic shipyards.
La Monte's lieutenant Ben Ognibene has taken the title of chief operating officer (COO) at US tanker operator Heidmar.
Jones Act jamboree Strong demand for Jones Act tankers are expected to buoy freight rates for the foreseeable future, according to researchers at MJLF & Associates.
TMT crew going home? The stranded crew of TMT tanker languishing off the UAE could be close to being rescued after inspectors branded conditions on board as "unsafe".
Uljanik mopping up Croatian shipbuilder Uljanik is planning to buy 100% of rival yard 3 Maj.
Scorpio firms first set Scorpio Bulkers has signed its first firm newbuilding contracts after penning deals with three yards in China.
MSC backs box binge China International Marine Container (CIMC) has launched another swoop for a series of containerships backed my charters with Mediterranean Shipping Company (MSC).
Baltija in the clear Lithuania's Western Baltija Shipbuilding (WBS) has had a freeze on its assets lifted in a row over vessel payments with a bankrupt sister company.
Vitol takes cape Vitol has added a capesize bulker to its fleet in a period deal with Pacific Bulk.
Columbia fine confirmed A federal court in Newark, US, has sentenced Columbia Shipmanagement to pay a fine of $10.4m for oil dumping from four ships.
Scandinor duo sold STX Europe shipowning wing Scandinor is believed to have sold off a couple more tankers.
Russians circle handysize Russian buyers are said to be close to a deal for a 2000-built Japanese handysize.
BC to order trio Canada's BC Ferries is to order three new ro-paxes to replace 1960s-built veterans.
Stolt engineer guilty A Stolt-Nielsen chief engineer has admitted obstructing justice in a "magic pipe" case in the US.
Nanjing wins MR deal Loss-making Nanjing Tanker has clinched a key tanker charter with trader Trafigura.
Royal's baby bait William and Kate are not the only ones showing off a new Royal baby this week it seems.
Restis: 'claims baseless' Arrested shipowner Victor Restis has hit back against baseless claims of embezzlement and money laundering.
Etel seizure "unfriendly" Ukraine has protested to Libya over the boarding of a ro-ro by disgruntled businessmen in Benghazi.
Vroon fixes duo Dutch owner Vroon has chartered out two subsea ships for wind farm work in the UK.
Havila back in profit Havila Shipping pushed back into the black in the second quarter.
Bharati hit by strike Sub-contracted workers at Bharati Shipyard in India have gone on strike over unpaid wages.
Spain fights yard blow Spain is to appeal a European Union ruling that its shipyards must repay cash gained through a tax lease scheme.
Bulker returned early Goldenport Holdings has had one of its handymax bulkers returned following the early termination of the existing charter.
Seaway Marine bankrupt Canadian shipyard Seaway Marine & Industrial has filed for bankruptcy.
Polarcus profits up Polarcus has reported pre-tax profits of $26.7m for the second quarter of 2013 - a 22% jump from a year ago.
Hallin wins Java job Hallin Marine has been awarded a subsea construction project off the Indonesian island of Java, the company has said.
Tanjung eyes funds Tanjung Offshore is looking to a private share placement to raise funds to finance the next stage of its growth.
Steel growth still weak World crude steel production continues to remain weak with a year on year increase of less than 2% in June.
MarAd awards shipyard grants The U.S. Maritime Administration is awarding $9.46 million to 12 shipyards, but it received about 10 times as many requests for money as it could provide--113 grant applications requesting $96 million in assistance.
INTTRA portal fixed with software patch The service was taken offline Friday for about 16 and a half hours because of a problem with a piece of computer equipment located in New Jersey that required the installation of a software patch.
TRAC rolls out new chassis
Canada strengthens rail safety rules
Washington Notebook: DHS opening brings attention to former Customs chief Kelly
PSA opens new Zeebrugge terminal
New steel handling facility planned in Mobile Alabama Steel Terminals will develop a new $36 million steel coil handling facility at the Alabama State Port Authority's main docks complex in Mobile. AST will construct the 372,600-square-foot warehouse in two phases.
Truck tonnage inches up in June The continued strength of the auto industry helped push up truck tonnage in June, according to ATA. In general, heavy freight is showing a better growth rate this year than lighter cargo.
CEVA consolidates Chicago, Tenn. facilities
Big data in the supply chain Big data... not since Y2K has there been so much hype about an IT-related term. It's a term that is relevant to all of us, yet few of us really understand it or what to do with it...
Stepping into big shoes In late June, Nabil Sultan, a senior vice president at Emirates Airline in charge of revenue optimization, stepped in for an air cargo legend.
USCG to conduct engine testing for new biofuel Isobutanol has a higher energy density, lower RVP, and does not present phase separation issues seen with ethanol.
Mid-week prices turn soft in Fujairah South African ports saw softer prices.
Bunker prices struggle for direction across Europe Gibraltar was reported to be busy with some congestion.
Antwerp gets EU LNG bunkering boost EU puts support of LNG bunkering infrastructure into practice.
Los Angeles feels the heat from lower priced bunkers Far East Russian market proving to be strong competition.
Bunker prices remain stable in Asia Good demand seen at Hong Kong port.
Fuel oil exports stick to upward path Russian exports show no sign of slowing.
'World's fastest' ferry ready to start commercial operations The Francisco is powered by a pair of Wartsila LJX1720SR axial waterjets.
Vale takes delivery of fuel-saving VLOC VLOCs' class has 1.99 EEDI score, says China Rongsheng.
Alfa Laval scrubbers in demand in Q2 Firm concluded orders worth $34.8 million for its PureSOx exhaust gas cleaning system.
BC Ferries mulls LNG-fuelled newbuildings Further technical and financial analyses will be required before final decision, says firm.
Coscon issues emergency bunker adjustment Rates will be applicable to all shipments from the Far East to South Africa.
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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