West Africa Guardcon will be published in September Too many private maritime security firms deploy unsupervised local teams
Teekay reveals it is behind order for two LNG carriers at DSME The two high-specification ships are for 2016 delivery
Golar LNG secures $1.1bn for newbuildings South Korean export-credit agencies provide the lion's share of funding
Banging heads together over Torm White & Case tell how to get a restructuring deal when interests sometimes clash
Manson denies Oaktree 'cherry-picking' in tanker sales There was no prearranged deal whereby the ships would be sold at anything less than the best market price obtainable, says lawyer
A very public ordeal Countdown to Torm's crisis
Dynagas takes delivery of two ice-class LNG carriers Hyundai Heavy Industries hands over 155,000 cu m vessels suitable for Arctic
Canadian Pacific Railway is on track for record turnover Network outages during four-day flood fail to dampen train operator's prospects
UPS sees double-digit decline in supply chain and forwarding profits Falling transpacific demand and cost-conscious customers hit logistics giant
Höegh eyes North American LNG exports Norwegians conduct an early-stage study into jetty-moored floating liquefaction unit
Fuelish bets Given predictions of lower energy costs due to shale gas, will owning an eco ship make sense in 2020?
Capacity cuts boost Asia-Europe spot prices SCFI shows $120 increase this week ahead of carriers' August rates hike
Panalpina's rising ocean freight volumes outpace the market Global logistics operator posts 5% rise in second-quarter sea freight
First Ship Lease Trust reports $7.2m quarterly loss Geden defaults hit Singapore-listed shipping trust's results
Fake reefer gases are still a threat Carriers must not be complacent about explosion risk, warns TT Club
Zim and CSCL upgrade Asia-Europe service More, larger boxships add new calls to AEX1
World Maritime University turns 30 Knowledge hub for shipping has built itself a reputation for academic excellence
Shipping digs itself into a deeper hole Investment decisions are too inward-looking as world trade becomes increasingly bleak
BG Group posts a stronger LNG performance Energy firm overcomes disputes, damaged pipelines and disruption in Egypt and Nigeria
Exmar's profits disappoint Owner misses out on robust LPG spot market due to high contract coverage for its fleet
Daehan Shipbuilding to get fresh injection from creditors Troubled DSME-managed shipyard will put $116m to work on building LR2 tanker for Scorpio
STX shipbuilding and dry bulk units edge closer to financial rescue Shares rally as creditors said to be near a decision on $1.9bn package
MOL Comfort sisterships to resume service with strengthened hulls Upgrades will enable two boxships to return to service next month
Star Bulk clinches $80m from offering Proceeds from backstopped rights issue to partly go to eco-newbuildings
Piracy figures do not add up Records of Asian pirate attacks are showing either a fall or a sharp increase, depending on the source
Sembcorp Marine wins appeal against PPL Holdings ruling Victory gives rig builder control of shipyard's board and right to appoint top managers
ISC prices preferred shares NYSE-listed International Shipholding Corp today priced a perpetual preferred share offering that was upsized by 35% due to high investor interest
Golar LNG lines up newbuild financing NASDAQ-listed Golar LNG Ltd. today announced a $1.125Bn finance package for eight of its 13 LNG and FSRU newbuilds
Obama vows to bolster ports CONGRESS will not stand in the way of funding US port expansion projects aimed at accommodating larger ships, President Barrack Obama has insisted
RMT's profit down 14% RICKMERS Maritime Trust today reported net profit of $7.7M for 2Q13, down 14% year on year
Star Bulk seals rights offering NASDAQ-listed Star Bulk closed its backstopped rights offering yesterday, raising just over the minimum potential proceeds
Exmar profits boosted by Teekay deal LISTED Belgian gas carrier operator Exmar has reported increased 1H13 profits of $90.9M, up from $33.6M last year
CCCC to build 'port city' in Sri Lanka CHINA Communications Construction Company Limited (CCCC) will invest $1.43Bn to build a 'port city' at Colombo, Sri Lanka, according to a deal with the Sri Lanka Ports Authority (SLPA)
China's new oceanic administration in operation CHINA'S restructured State Oceanic Administration (SOA) went into formal operation on Monday
STX Pan Ocean mulling box shipping exit STX Pan Ocean clarified with Fairplay today that it is still thinking over whether to continue with its container shipping business and that it has not made a firm decision yet
Mercator Lines (Singapore) posts loss THE Singapore-listed subsidiary of Mercator Lines announced a $6.7M loss for 1Q13 today, reversing a $370,000 profit in the same period in FY12
LR2 tankers seek better rates in West LR2 products tankers are ballasting to the West to seek arbitrage naphtha cargoes, as freight rates for Arabian Gulf-Far East trips have deteriorated for more than three months now, brokers told Fairplay
Changhang Phoenix' trio set for auction SHENZHEN-listed Changhang Phoenix's three bulk carriers will be put on auction block after a court ruling, a stock filing by the company said today
SMM wins appeal case on PPL shares SEMBCORP Marine said the Singapore court of appeal has ruled in its favour against investment firm PPL Holdings
Capesize rates offset by coal squeeze A GOOD number of iron ore fixtures came to the market this week, but a drop in coal shipments resulted in a week-on-week drop in Capesize rates
STX Pan Ocean sells two chemical tankers CASH-strapped STX Pan Ocean has sold two 2009-built chemical tankers, said brokers
NY-NJ Port Chief Defends Bridge Toll Plan NEW YORK - The executive director of the Port Authority of New York and New Jersey defended the agency's bridge and tunnel toll increases and said toll revenue is not being diverted to the over-budget World Trade Center rebuilding or other port authority real estate projects. Patrick J. Foye, the port...
Geodis Wilson Names India, Southeast Asia Directors Leif Voelcker, managing director of Geodis India.Rene Bach-Larsen, managing director of Singapore and Southeast Asia.Geodis Wilson has appointed Leif Voelcker as managing director of Geodis India and Rene Bach-Larsen as cluster managing director of Singapore and Southeast Asia. Bach-Larsen joined Geodis Calberson Denmark in 1995, and was named managing director of...
The Infrastructure President? There are two President Obamas when it comes to infrastructure spending. There is the Obama who at the Port of Jacksonville on Thursday extolled the virtues of deepening port harbors so post-Panamax ships able to fit through the expanded Panama Canal can call on the East Coast. And then there...
Supply Chain Solutions Acquires Vanik International Supply Chain Solutions, a Grand Rapids, Mich.-based transportation, logistics and supply chain management company, has acquired Vanik International, a Westmont, Ill.-based freight forwarder. Terms of the transaction were not disclosed. "As we expand our offerings and grow our company, Vanik provides a key service for SCS customers," Supply Chain Solutions CEO Les Brand...
DB Schenker Logistics Names Gay as CEO Effective Sept. 1, Lluís Gay will assume the position of CEO of Schenker Logistics, replacing Jaume Ballester. Ballester will retire after decades with Deutsche Bahn. He will continue to hold responsibility as the head of land transport in DB Schenker Logistics' Western Europe region until further notice. Gay has been the head...
OSCAR: No 20-Foot Containers Available in Kansas City Ocean Shipping Container Availability Report, July 24 Full-size image For the first time since mid-April, there were no 20-foot containers available for export in Kansas City in the week of July 24, according to the U.S. Department of Agriculture's weekly Ocean Shipping Container Availability Report. Carrier data used in the report indicates...
Ocean Carrier Rate Revision Roundup for July 26 Major container lines have announced rate increases for a variety of trades, as detailed below, slated to take effect in August and September: Asia-Europe Starting Aug. 1, Evergreen Line will boost rates in its trade from the Far East, including Japan, and the Indian subcontinent, to Europe and the Mediterranean. The hike...
STB Directs BNSF Asset Revaluation Over 7-Year Period The U.S. Surface Transportation Board has taken actions to delay the revaluation of BNSF Railway's assets, in part because of Berkshire Hathaway's purchase of BNSF in 2010 without prior board authorization. The board reaffirmed that generally accepted accounting principles must be followed in rail carrier acquisitions, which permit the revaluation of...
Port of Vancouver USA Approves Tesoro-Savage Lease An aerial view of the Port of Vancouver USA.The Port of Vancouver USA's board of commissioners has unanimously approved a 10-year lease with the Tesoro-Savage Joint Venture for a crude oil handling facility at the port. The project, proposed by the port's longtime tenant Tesoro in partnership with the logistics company...
TAL International Reports 29.4 Percent Profit Jump TAL International Group reported a profit of $37.9 million for the second quarter of 2013, a jump of 29.4 percent from $29.3 million in the second quarter of 2012. Quarterly leasing revenue for intermodal freight container and chassis lessor totaled $139.5 million, up 9.1 percent year-over-year. "TAL continued to achieve outstanding operational...
SCFI: Shanghai-to-US Spot Container Rates Weaken Spot container rates to the U.S. East and West coasts measured by the Shanghai Containerized Freight Index declined in the week ending July 26, ahead of a planned Aug. 1 general rate increase. "The U.S. routes have shown a weaker development when compared to the European trades. We cannot yet categorically...
Pacer Reports Second Quarter Profit Growth Pacer International reported its net income in the second quarter of 2013 totaled $1.9 million, compared with $1.3 million in the same quarter in 2012. Quarterly revenue for the asset-light North American freight transportation and logistics services provider totaled $238.0 million, slumping 35.4 percent year-over-year from $368.3 million. The decrease was...
It's Official: Brian W. Taylor Is Jaxport's New CEO Brian W. Taylor, Jaxport's new CEO.The Jacksonville Port Authority has named Brian W. Taylor as its new CEO, effective July 29, according to Joe York, chairman of the Florida port authority's board of directors. The board of directors had voted unanimously in June to offer the position to Taylor. Taylor, a long-time...
SCFI: Asia-Northern Europe Rates Jump Ahead of GRI Spot container rates from Asia to northern European ports measured by the Shanghai Containerized Freight Index jumped nearly 10 percent in the week ending July 26. "It seems as if the reports last week about a lack of capacity on the key Asia-Europe route are beginning to have an effect. The...
EU, Armenia Strike Deal for Free Trade Area The European Union and Armenia have concluded negotiations for a deep and comprehensive trade area, which will create a new framework for trade relations between the two nations and boost bilateral economic benefits. Negotiators reached agreement at the seventh and final round of talks, held in Yerevan, the capital of Armenia....
Barcelona Terminal Sets Container-Handling Record TCB handled 3,784 loading and unloading movements in 28 hours.Spain's Terminal de Contenidors de Barcelona, part of Grup Marítim TCB, has set a company record for movements in handling a single ship. TCB completed handling of the CMA CGM Effingham, which is operated by CMA CGM and Maersk Line, with a...
American Maritime Industry Praises Pres. Obama and Sec. Foxx's Visit to Port of Jacksonville to Talk about Jobs & Economic Growth WASHINGTON - The American maritime industry today praised President Barack Obama and Transportation Secretary Anthony Foxx for visiting the Port of Jacksonville, Florida to talk about jobs and economic growth. Thomas Allegretti, the Chairman of the American Maritime Partnership, noted that the Port of Jacksonville alone is homeport to four...
ConGlobal Awarded CCM Contract at TraPac Facility in Jacksonville ConGlobal Industries, Inc. was awarded the Consolidated Chassis Management (CCM) contract to supply all ILA labor for out-of-service maintenance and repair operations at TraPac, a privately operated terminal facility in Jacksonville, FL. The contract encompasses approximately 2,000 chassis managed by CCM, the largest chassis pool provider in North America, and...
New Chairman for Port of Milford Haven One of the most senior figures in the UK Ports Industry, Peter Jones, has been appointed Chairman of the Port of Milford Haven. Mr Jones accepted the appointment following an open competition jointly led by the Port and the Department for Transport. Mr Jones has been appointed by the Secretary...
APM Terminals Apapa to Receive New RTG Cranes Ships docked at APM Terminals Apapa.APM Terminals Apapa in Nigeria is expected to receive five new rubber-tire gantry cranes out of a series of 10 in August as part of its third phase of a $135 million terminal upgrade. The remaining five RTGs will be delivered in November, enabling the terminal...
Geden sheds second resale Sale-and-purchase brokers in London and Athens are circulating reports that suggest Geden Lines of Turkey has offloaded another newbuilding.
Restis held Greek shipping and business magnate Victor Restis is being held in pre-trial custody after a marathon four-hour deposition before a fraud investigator and prosecutor.
Teekay seals LNG double Teekay LNG Partners (TGP) has confirmed a pair of LNG newbuildings and penned options for up to four more.
Buys a no brainer Debt repayments topping $200m over the next two years will not stand in the way of expansion at Costamare and its joint venture with private equity partner York Capital.
Zeeland edges up Dutch terminals group Zeeland Seaports has pushed up first-half volumes thanks largely to a rise in oil cargoes.
Rickmers spots reprieve Rickmers Maritime sounded a positive note for the containership market as it recorded a marginal fall in second quarter profit.
VLCCs bite Batista Eike Batista's swoop for a couple of Vela VLCCs has come back to haunt the Brazilian tycoon.
Samudera fires warning Indonesia's Samudera Shipping Line has braced investors for more red ink when it reports its second quarter results next week.
Golar grabs $1.12bn John Fredriksen's Golar LNG has sealed a huge $1.125bn financing deal for its new gas carriers.
SAC's $100m in ships A giant hedge fund indicted in the US for insider trading has a shipping portfolio spanning seven companies.
Restis takes the stand Greek shipping magnate Victor Restis voluntarily deposited EUR 5.8m ($7.7m) in an escrow account before heading to the office of the prosecutor to defend himself on charges of money laundering today.
Greeks bearing gifts We take a look at what was said in the market over the past week.
Mercator slumps to red The forced sale of a VLOC continued to hurt Singapore-listed Mercator Lines during the opening quarter of the year.
PSL cancels three more Thailand's Precious Shipping (PSL) is chasing $62m from ABG Shipyard after tearing up deals for three more bulker newbuildings.
Huge catch for Coastal Coastal Contracts of Malaysia has racked up another massive order for seven offshore support vessels.
Cargoes slim for BG BG Group delivered fewer cargoes in the last three months but saw its LNG Shipping & Marketing operating profit nudge up slightly.
Hitched on Hebridean Princess? Hollywood royalty Brad Pitt and Angelina Jolie may be following in the footsteps of British royalty by booking the Hebridean Princess cruiseship.
VL deal to set marker TradeWinds digests the digits making the headlines this week.
China yard profits slashed Chinese shipyards have recorded a 54% drop in first-half earnings as deliveries fell.
SSC profit leaps Singapore Shipping Corp posted a huge hike in first quarter earnings after adding a new string to its bow.
Reefer death revealed Norway's Siem Shipping is investigating how an officer died during mooring operations on one of its reefers.
Monarch denies dumping US owner Monarch Shipping has gone to court in a bid to release a ro-ro held in Florida in an oil dumping probe.
Arrest rocks Restis Jaws dropped in Greece as news of Victor Restis's arrest amid claims of money laundering emerged this week.
Moorhouse joins JFS James Fisher and Sons has appointed former Lloyd's Register executive chairman David Moorhouse to its board of directors.
Star issue sparkles Star Bulk has pocketed more than it hoped for from its trip to Wall Street in a move which attracted some blue-chip investors to the bulker owner.
DSME nets LNG duo South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has secured an order for two 173,400-cbm LNG carriers.
Siem Shipping on the up Kristian Siem's reefer operation posts bigger first half profit as revenue jumps.
Seadrill wants Sevan John Fredriksen's Seadrill has launched a mandatory offer for the remaining shares in Sevan Drilling.
Nine crew missing Nine crew are missing feared dead after a barge sank to the east of Singapore.
ISC plots tanker play International Shipholding Corp of the US is looking to acquire a minority stake in a pair of chemical tankers that are due for delivery in 2014.
Back to School: Understanding the Value of a Supply Chain Education A growing number of targeted degree programs have been established to educate the next generation of industry leaders. This one-hour, interactive discussion will help you understand how to assess the value supply chain education presents to you and your organization:
Bill seeks Jones Act exemption for some Puerto Rico cargo Puerto Rico's representative to the U.S. House of Representatives said he has introduced legislation that would exempt vessels carrying fuel, agricultural products and other bulk cargo from provisions of the Jones Act.
Old Dominion sees 8% revenue increase in 2Q
Trans-Pacific Partnership talks progressing
New York lowering cargo assessment Effective August 1, the per container charge with a destination within 260 miles of the Port of New York and New Jersey will be reduced to $94 from $100 in all trades except in the Bermuda trade.
Saia's revenues inch up
Douglas Brittin in at TIACA Brittin, who spent the last six years ascending the air cargo ranks at the U.S. Transportation Security Administration, will replace Daniel Fernandez as secretary general on August 15.
U.S. intermodal volumes on the upswing U.S. carloads fell by 3 percent, year over year, to 277,933 units, and intermodal volume rose by 2.8 percent to 253,424 units for the week ending July 20, according to the Association of American Railroads.
Obama calls for maritime investment during JaxPort visit
Fuel prices lack direction in the Americas Demand was said to be slow in Cartagena on Friday.
Weekly global market update A weekly price round up of bunkering hubs from around the world.
US ECA: Sharp drop in FONARs More ships able to source LSFO, but operators who repeatedly say they can't are likely to come under scrutiny.
Prices mainly flat in Rotterdam Weak demand seen in Hamburg.
Little movement in Fujairah Bunker prices flat in Suez.
Office move for Termoil Greek bunker trader has new address.
Asian IFO prices end week with little movement Strong demand noted in Singapore and Hong Kong.
Coastal shipping attracts new players Prospect of cheaper bunkering attracting interest to coastal trade.
LNG valve manufacturer expands North American operations Selects W&O Supply as exclusive distributor for LNG valves to marine firms.
Price key to adopting LNG as bunker fuel, study finds Korean Register presents feasibility study on dual-fuel containership.
Royal Caribbean regains positive momentum Firm managed to reduce fuel expenses while increasing revenues over the year.
Global Shippers back EC MRV system MRV system to provide verifiable greenhouse gas data from ocean carriers, says spokesman.
Star Bulk secures funding for fuel-efficient newbuilds Funds from $75 million backstopped equity rights offering and concurrent private placement programme.
Quarterly earnings up for US barge operator Kirby Corporation posts net profit of $63.1 million in Q2 2013.
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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