Paragon increases fundraiser to buy ultramaxes Deal priced at $5.75 per share but reaches $30m
Firmer rates on subcontinent drive Indian demolition surge Sales close at strong prices for boxships and ultra-large crude carrier
IMTC slams lost V.Ships contract but hits back at bankruptcy claims Morocco's biggest shipowner pledges to pay seafarers and says it continues to trade
LNG as shipping fuel is 'oversold' Widespread adoption will take much longer than supporters predict, says Clifton
Larger ships may not improve port productivity Unloading speed reflects number or intensity of cranes, says Drewry
Hapag-Lloyd appoints Damco chief as chairman Habben-Jansen joins executive board in April and becomes chairman in July
Court lets STX Pan Ocean borrow short-term funds to protect charters Firm will raise $186m to honour agreements with Korea Electric Power and Vale
CSAV share offering raises an initial $261m Chilean carrier will channel funds into vessel purchases
Chamber calls for accountancy rules on charters not to change Proposed shake-up could leave owners in breach of covenants, warns Hinchliffe
ABP in Humber ports shake-up Four terminals come under single management
Rickmers Maritime eyes return to ultra-large containerships Chief executive seeks cash-yield return throughout charter period
Swanland flag breached own guidelines Vessel not inspected prior to provisional registration, Cook Islands admits
Small ships exempt from bulker rules Enhanced survey could have saved lives, MCI boss concedes
Boskalis lands Bronka dredging deal Contract will open access to Baltic port complex
Schettino tells court that others are to blame for cruiseship sinking Master says Costa Concordia helmsman responded to rudder order too late
Precious Shipping orders cement carrier in China Thai owner signs $24.5m deal with Shanhaiguan
Singapore will have to work hard to stay ahead Regional rivals, particularly Malaysia, present a challenge to its maritime lead
Setting his sights on Singapore DNB's Ryland shares his views on the city state's competitive advantages
Vantage says STX O&S has halted ultra-deepwater drillship work US offshore company in talks with embattled yard over delayed delivery to 2016
Investors dump Carnival shares NYSE-listed stock of Carnival Corp fell today in extremely heavy trading after the cruise major confirmed continued weakness for its CCL brand
Scorpio Bulkers bolsters newbuild cash SCORPIO Bulkers has raised approximately $300M via a private placement in Oslo's over-the-counter market, earmarking the funds for its ongoing effort to build a fleet of fuel-efficient drybulk carriers
OSG reveals 2013-18 financial projections BANKRUPT Overseas Shipholding Group has disclosed forecasts for its US-flag and international tanker divisions in an effort to speed restructuring
Top CSAV shareholder raises stake CHILE'S Luksic Group has raised its holdings in CSAV during the first preferential round of the liner company's rights offering
ICS opposes IASB accounting proposals THE ICS today opposed changes in accounting rules, warning that they would result in vessel chartering agreements being treated as leases - and becoming accounting liabilities
Rig market share shifts CHINESE rig builders are gaining market share with aggressive bidding, attractive payment terms and Beijing's support, Vincent Fernando of Religare Capital Markets told a forum today
Chinese yards' new-order gains slowed GROWTH in new orders at China's shipyards slowed in August to 75% year on year, the China National Association of Shipbuilding Industry said today
Paragon upsizes offering MICHAEL Bodouroglou-led Paragon Shipping today priced a larger offering than expected to raise money for two related-party newbuilding purchases
Reefer quality crimps logistics QUALITY issues with reefer boxes are seriously hampering perishable cargo logistics, according to a survey by foodcareplus, the freight-forwarding group
Scrap prices weaken as holiday nears AFTER rising for more than a month, prices of ships sold for demolition into China dropped last week
Reefer box growth stalls PERISHABLE-cargo container flows are being dragged down
Changhang Phoenix loses $1.2M repair case CHANGHANG Phoenix said today it has lost a $1.2M legal case to a compatriot debtor
Lull hits VLGC spot sector VLGC SPOT rates are continuing to fall as a seasonal drop in LPG demand hits the market
Asset valuations factor in scrap value SCRAP values will become an increasingly important factor in asset valuations because of shorter trading lives, the Marine Money conference in Singapore heard today
Profits drop at Global Ports GLOBAL Ports Investments, Russia's dominant container operator, said its 1H13 profits were significantly below forecasts
Schneider's Lofgren Says Driver Pay Must Rise View "The Shift to Short Haul" on the Schneider Knowledge Hub Schneider National is offering a $5,000 signing bonus for tank truck drivers, including a $2,000 relocation allowance, as the truckload operator ramps up to meet chemical shipping demand. The bonus, announced last week, is the latest effort by the $3.5...
Report: Number, Value of US Cargo Thefts Increase Shares of cargo theft by product type from June to August, based on average loss value per incident. Full-size image FreightWatch International, a logistics security services company, reported a total of 202 cargo thefts in the U.S. in the third quarter of 2013, with 87 thefts in June, 62 in July and...
For-Hire Trucking Tonnage Index Rose in August The American Trucking Associations' advanced seasonally adjusted For-Hire Trucking Tonnage Index increased 1.4 percent in August from July, to 126.9, after slipping 0.6 percent in July. Compared with August 2012, the index rose 6.9 percent, which is the largest year-over-year gain since December 2011. Year-to-date, versus the same period last year,...
US Shippers Urge House to Raise Inland Waterways Fuel Tax More than 75 business, agriculture and labor groups and local governments are urging the U.S. House of Representatives to hike the fuel tax that barge and towing companies pay into the Inland Waterway Trust Fund. Increasing the current tax of 20 cents per gallon by six to nine cents is needed...
OOCL Leases Office Space in Utah OOCL has leased 50,000 square feet of office space in the RiverPark 7 building in South Jordan, Utah. The container line plans to expand and hire or relocate 300 professionals for this new office space over the next several years. RiverPark7 is the newest 75,000 square foot, three-story building under construction...
Mumbai Port to Begin Maintenance Dredging View Larger Map India's Mumbai Port Authority has awarded Van Oord Dredging and Marine Contractors a contract for maintenance dredging of port berths to help alleviate draft restrictions. "Dredging work is expected to start in mid-October," port officials said. The move follows vigorous efforts by the Mumbai-Nhava Sheva Ship Agents' Association, which has...
Japanese Container Exports Seen Rising 3 Percent in FY 2013 Japanese containerized cargo exports will rise 3.0 percent in fiscal 2013, which started on April 1, to 5.176 million 20-foot-equivalent units (TEUs), amid a moderate recovery in the global economy, a Tokyo-based research firm predicted in a new report. The anticipated fiscal 2013 growth in loaded container cargo exports from nine...
Private Fleets Poised for Growth PepsiCo has the largest private trucking fleet.While for-hire trucking companies are shedding assets and focusing on profits, a national survey of private fleet operators revealed that 67 percent of the respondents expect their operations to grow in the coming years. "The future of the private fleet is exceedingly bright," Tom Moore,...
Diana Containerships Receives Post-Panamax Vessel The 6,500-TEU Pucon is chartered to CSAV.Diana Containerships, through a separate wholly-owned subsidiary, has taken delivery of the Pucon, a 2006-built post-Panamax container ship of about 6,500 20-foot-equivalent capacity. The company entered into an agreement to purchase the vessel on Aug. 8, 2013. Including the newly delivered Pucon, the shipping company's...
Zebra Technologies Launches Rack & Container Location Solution to Improve Visibility Through Real-Time Data in Rack Fleet Management DETROIT, Sept. 23, 2013 (GLOBE NEWSWIRE) -- Zebra TechnologiesCorporation (Nasdaq:ZBRA), a global leader in products and servicesthat provide real-time visibility into organizations' assets, peopleand transactions, today at the Automotive Manufacturing Solutions (AMS)conference in Detroit, announced the release of Rack & Containermanagement solution. The solution is a manufacturing execution system(MES) designed...
TNT Thailand joins expert panel on AEC insights for Ministry of Finance's executives Alan Miu, Managing Director of TNT Express Worldwide (Thailand) Co., Ltd., the leading international provider of integrated express services, recently appeared as a distinguished speaker at the training program "AEC insights for MOF's Executive", with the objective of sharing knowledge and best practice with Ministry of Finance staff, at Windsor...
Institute of Chartered Shipbrokers welcomes record numbers to global membership London and Vancouver, 24 October, 2013. The Institute of Chartered Shipbrokers has welcomed 200 new members at the annual meeting of its Controlling Council, held this year in Vancouver, Canada. In being formally elected to membership of the ICS, one of shipping's oldest professional bodies, the candidates join an organisation of...
CHIMPORT - The 2013 World Brands China Import Fair News Release The 2013 World Brands China (Guangzhou) Import Fair, is the first world-class Expo focusing on importing products (Consumer Sector); The first event in South China winning international recognition, as well as featuring brand and nation images of "Made in a country". (Brazil delegation, for the first time creates a "Made in...
Kewill Reinvents Supply Chain Execution Market with Introduction of Multimodal Transportation Platform CHELMSFORD, Mass.--(BUSINESS WIRE)--Kewill, Inc., a leading provider of multimodal transportation and logistics management solutions for seamless supply chain execution, today announced the release of Kewill MOVETM, a complete, comprehensive platform for managing the complexities of transportation, logistics and trade compliance. The Kewill MOVE platform provides users with a multimodal transportation...
GT Nexus Announces Major Expansion by Key Customer OAKLAND, CA--(Marketwired - Sep 24, 2013) - GT Nexus today announced that Procter & Gamble (P&G) has renewed and expanded its contract for global supply chain management technology and services. P&G has been using the GT Nexus platform since 2001 to manage its global logistics spend. The expanded solution gives...
US Diesel Prices Inch Down for a Second Week U.S. diesel prices through September 23, 2013 Full-size image U.S. diesel prices declined as of Sept. 23, the second consecutive week of price decreases, according to the U.S. Energy Information Administration. The last time diesel prices saw two straight weeks of decreases, they were followed by three weeks of increases. The national average...
Boskalis to Dredge for New Bronka Port in Russia St. Petersburg, Russia.Royal Boskalis Westminster has won a €130 million (about US$175.3 million) contract from CJSC Baltstroy for the dredging and construction of the Bronka Port shipping channel in St. Petersburg, Russia. The project involves the construction of a 6 kilometer (about 3.7 mile) long shipping channel, turning basin and berth...
APM Terminals Gothenburg Orders STS, Gantry Cranes A Liebherr straddle carrier destined for ECT.Liebherr Container Cranes has received an order from APM Terminals Gothenburg in Sweden for two ship-to-shore cranes and two rail-mounted gantry cranes. The STS cranes have an outreach of 65 meters (about 213 feet), allowing them to work on container vessels with up to 24...
Shifting Policies and Priorities: Staying Ahead of China Logistics David Hartman, Director of Blue Canyon Partner's China practice, has worked for more than 20 years with companies developing their business in China. In this podcast, he discusses changes in China's economic policy focus and the move of manufacturing inland. This podcast is Part 1 in a series leading up to...
Piracy Trends Fuel Lower Insurance Premiums Boatswain's Mate 1st Class Jeffrey Sparks, right, and Ensign Timothy McDaniel of the U.S. Navy navigate a rigid-hull inflatable boat toward the Chinese destroyer Harbin (DDG 112) to recover sailors assigned to the guided-missile destroyer USS Mason (DDG 87) during a U.S. and Chinese counter-piracy exercise. Photo by Mass Communication...
Capes pass $40k A week after bursting past $30,000 daily capesize rates today broke through the $40,000 per day barrier.
Khanna's comeback The former operations chief of Greek bulker and tanker owner DryShips is breaking back into shipping after forging a partnership with a leading private equity firm.
Concordia's three-year legacy Micky Arison admitted today it will take up to three years to recover the reputation and financial performance of Carnival Corp's Costa brand following the Costa Concordia tragedy.
Zamakona delays again Astilleros Zamakona has delayed delivery of a Solvtrans newbuilding for a second time.
Scorpio in $250m move Scorpio Bulkers is about to raise at least $250m in the Oslo over-the-counter market in a deal that could support acquisition of 20 more vessels, market sources tell TradeWinds.
Nanjing stuck in red China's Nanjing Tanker is still at risk of delisting in Shanghai after it forecast a possible fourth consecutive year of losses.
Lisin lines up $300m splash Russian tycoon Vladimir Lisin's Volga Shipping has ordered 20 new cargoships at affiliate shipyard Oka.
Bumi VL attacked A Bumi Armada VLCC was boarded by armed men yesterday in the seventh attack this year on a tanker at anchorage in Nipah, Indonesia.
Miniature Titanic tested A wooden model of the proposed Titanic II cruiseship has been given a thorough examination in Germany.
Hapag replaces top two Hapag-Lloyd has today appointed two new executives to replace its chief executive and chief operating officer who will both depart next year.
Meem crew supplied An Indian court has been told the crew of a cargoship arrested off Alang have now received fresh food and medical supplies.
No let up for Rongsheng China Rongsheng Heavy Industries is facing yet another legal challenge over its failure to follow through with a takeover of an engine maker.
Tanker master held The Spanish master of the grounded tanker Zebron has been arrested following an alcohol test in Sweden.
Dry back to black All core segments of the dry-cargo market will sneak back into profit next year for the first time since 2010, it is claimed.
Vroon ERRV prangs platform Around 40 UK offshore workers have been airlifted after a Vroon emergency response and rescue vessel (ERRV) struck the gas platform they were on.
Cruise cancelled Princess Cruises has cancelled Royal Princess' Mediterranean cruise after a power failure.
STX PO ups limit Restructuring bulker owner STX Pan Ocean has increased the potential amount of its short-term borrowing by KRW 200bn ($186m).
Two for one, plus change An early autumn rally in the capesize market could see charterers split cargos between two panamax vessels with money to spare.
Boskalis in Russian double Dutch dredging giant Royal Boskalis Westminster has bagged a second contract for work on a new Russian port.
Grieg adds supramaxes Norway's Grieg Star has added two more ships to its supramax orderbook in China.
Luksic plays major hand Chile's Luksic family has dug deep to help CSAV complete the first round of a $330m fundraiser which will help pay for a series of newbuildings.
Bulker immortalised A UK-built bulker has received a rare honour by featuring in a new set of six maritime-themed Royal Mail stamps.
Schettino blames helmsman Costa Concordia captain Francisco Schettino has told an Italian court that the disaster was caused by his helmsman.
Trogir chops 350 jobs Croatian shipyard Brodtrogir is laying off 350 workers following privatisation.
STX delays drillship work STX Offshore & Shipbuilding has stopped construction work on a deepwater drillship.
Maersk warns on MRs Maersk Tankers has warned that the over ordering of MR tankers threatens to damage the positive prospects of the products sector.
Transocean eyes 10 Transocean is looking to order up to 10 high-specification jack-up drilling rigs in deals worth more than $2bn.
Nipah sees double attack Tankers at Indonesia's Nipah Anchorage have been subjected to two robbery attempts in less than a week.
Freight forwarders foresee Russian Customs issues Trade with Russia and other countries relying on transit through Russia may be interrupted unless a solution to the conflict over the country's involvement in trade interface requirements (TIR) is solved, according to CLECAT and FIATA.
Hapag-Lloyd names Damco exec CEO Rolf Habben-Jansen, who has been chief executive of Damco, the freight forwarding arm of the A.P. Moller-Maersk Group, since 2009, will become chairman of the executive board and CEO of Hapag-Lloyd on July 1, 2014.
IATA downgrades airline industry profitability expectation The global airline industry will generate $11.7 billion in profit on $708 billion in revenues. In June, the organization projected profits of $12.7 billion, but slow growth in key markets caused it to revise its prediction.
Vitran sells U.S. LTL business Vitran has agreed to a $2 million sale of its U.S. less-than-truckload business to an entity controlled by Matthew Moroun, and industry watchers now think the company's Canadian business could be next.
Sulphur limits: IMO should offer 'guidance' on fuel types Bunker player wants clarification as to whether fuel oil or distillates should be used.
Prices mainly soft in Fujairah Suez market firming.
Prices falling across Europe Rotterdam market soft.
Carnival repeats backing for scrubbers: Q3 profits down Carnival 'will take a lead' in developing scrubber design'.
Greener shipping - hot air, or...? How did I defend the motion - 'This House believes that the demands for ever-greener shipping are so much hot air' at the WISTA UK grand debate?
Sides harden over Russian bunkering dispute Russian bunker companies' frustration takes them to court.
Maersk Line investing in fuel-efficiency technology Investment offers 'a very attractive payback'.
Court ruling a 'welcome rebuke' to anti-ECA campaign 'Alaskan officials seem to prioritise the interests of shipping companies over the health of residents.'
More cash for green maritime projects Move forms part of Blue Denmark initiative and includes LNG as marine fuel.
Bunker markets soft in Asian hubs Supplies of bunker fuels were fine at key Asian ports on Tuesday.
Fuel system technology firm looking for production partner 'This could be one of the company's most important decisions.'
Bulk carrier takes North West Passage to Finland 'The fuel savings alone add up to $80,000,' says Nordic Bulk Carriers.
Ulstein Verft delivers final PSV to group subsidiary Blue Protector has 'optimal combination' of fuel-efficiency and deadweight, says shipyard.
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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