P3 submits US filing RATE RISES and service levels remain a concern for shippers after the filing in the US last week of the world's largest vessel alliance, Fairplay has been told
Dorian takes over Scorpio's LPG fleet DORIAN LPG said today it will take over all VLGC newbuilding contracts from NYSE-listed Scorpio Tankers, with Scorpio obtaining almost one-third of Dorian's ownership in return
USC plans buyout at Arctech Helsinki yard MOSCOW'S government-owned United Shipbuilding Corp has told Fairplay it plans to buy out STX Finland at Arctech Helsinki Shipyard
China, Taiwan adopt 19 trade proposals TAIWAN and mainland China have adopted 19 trade proposals, including one to boost the island's co-operation with Shanghai Free Trade Zone
Master missing in Pacific THE MASTER of the bulker Taipower Prosperity II is still being sought today after he presumably fell overboard near the tiny island republic of Palau, southwest of Guam
Brightoil nets third loan HONG KONG-listed Brightoil Petroleum (Holdings) today said a subsidiary has signed a 10-year term loan accord
Asian offshore companies bag contracts MALAYSIAN offshore players Jasa Merin and SapuraKencana Petroleum and Singapore's Ezion Holdings have secured contracts
SITC's profits rise 22% HONG KONG-listed box carrier SITC said today its profits rose 22% year on year to $86M in the first nine months of 2013
Disposal affects COSCO Pacific's profits HONG KONG-listed COSCO Pacific, the terminal operating unit of giant China, said today 3Q profits fell 18% year on year to $80M
CSSC-JNHI losses compound THE losses SHANGHAI-listed CSSC-JNHI shot up nearly six times in 3Q13 to 33.3M yuan ($5.4M) because of lagging investment gains and lower profit margins
Ezra profits exceed outlook, but it keeps 'sell' call DMG & Partners maintained its 'sell' rating for Singapore's offshore contractor Ezra Holdings, as its core valuations were "still expensive"
Samudera swings to losses INDONESIAN shipping group Samudera posted net losses of $0.239M for the third quarter ending 30 September, against net profits of $1.3M year on year
Industry Officials Seek Changes in NY-NJ Chassis Model Representatives of waterfront employers, drayage companies and the International Longshoremen's Association said there's an urgent need to improve the way intermodal chassis are supplied in the Port of New York and New Jersey. Dennis Daggett, president of the ILA's Atlantic Coast District and of Local 1804-1, said the ILA, its employers...
ILA, Employers Blast Waterfront Commission International Longshoremen's Association officials and port employers told an industry forum that a standoff with the Waterfront Commission of New York Harbor over longshore hiring threatens to undermine productivity gains in a new ILA contract. Dennis Daggett, president of the ILA's Atlantic Coast District and of Local 1804-1, which represents maintenance...
Wall Street Zeroes In on Intermodal Pricing For investors, Canadian and U.S. intermodal growth isn't the story anymore; it's all about pricing. That's the impression analysts gave this month during third quarter earnings calls with the seven Class I railroads.Investors have always been curious about carload and intermodal pricing, but the increased focus suggests that Wall Street...
ASF Intermodal Kicks Off Midwest Expansion ASF Intermodal has opened an intermodal drayage facility in the Chicago area. The new terminal, which is the Alabama-based intermodal truck carrier's first location in the Midwest, is located in Rockdale, Ill., and is the first of several Midwest terminals that ASF Intermodal plans to open over the next 12 months. Paul...
Quarterly Profit Down at Universal Truckload Services Universal Truckload Services reported net income of $13.7 million in the third quarter of 2013, falling 8.7 percent year-over-year from $15.1 million. However, total quarterly revenue for the North American asset-light company, No. 26 on JOC's list of the Top 50 Trucking Companies, rose 1.9 percent from $256.9 in 2012 to...
Volume at Top Three Chinese Ports Drops Top China Ports Year-to-Date Growth Rate - January-September 2013 Full-size image China's top three ports of 2012 saw year-over-year declines in the volume of containers handled in September. The Port of Dalian, ranked eighth in China in 2012, had the largest increase among the top ports for a seventh straight month, soaring...
Cheng Lie Navigation Launches Intra-Asia Service CNC Line's new KVT service.Cheng Lie Navigation, part of CMA CGM, has launched a new intra-Asia service, the KVT, connecting South Korea to Thailand and Vietnam. The KVT service, which has nine refrigerated plugs available, is operated along the following rotation: Busan, Ulsan and Kwangyang, South Korea; Hong Kong; Ho Chi...
FMC Reaches Agreements on $617,500 in Civil Penalties The Federal Maritime Commission has completed seven compromise agreements with nine non-vessel-operating common carriers and freight forwarders, recovering a total of $617,500 in civil penalties. The penalties resulted from alleged violations of the Shipping Act of 1984, after FMC's area representatives conducted investigations in the Seattle, South Florida, Los Angeles, New...
Evergreen Announces Leadership Changes at US Agency Thomas Chen, the chairman of Evergreen Shipping Agency (America) Corp. (EGA) is being transferred to a new role in Taiwan. His successor is Jack Yen, who has been serving as EGA vice chairman. The announcement was made by Captain S. Y. Kuo, Evergreen Group vice group chairman, who is headquartered in Jersey City,...
Evergreen Group Names Another L-Type Container Ship (L-R) Bronson Hsieh, second vice group chairman of Evergreen Group; Mrs. Datin Saisunee Ong, wife of the chairman of Evergreen Marine Corp. (Malaysia); Dato Dr. Kenny Ong, chairman of Evergreen Marine Corp. (Malaysia); and Lai Sun-Quae, chairman of CSBC Corp., Taiwan.Evergreen Group has unveiled the 8,508-TEU Ever Linking, the second...
P3 Alliance to Boost Trans-Pacific Capacity The service schedule that the P3 Alliance plans to launch next May indicates that Maersk Line, Mediterranean Shipping Co. and CMA CGM will boost the combined capacity of their services on the trans-Pacific by a significant amount, while the increases will be smaller on the Asia-Europe and Asia-Mediterranean lanes. The P3...
Bunker Fuel Prices Resume Decline Bunker fuel prices - Rotterdam Full-size image Spot prices for high and low sulfur bunker fuel this week resumed the declines that they had been experiencing before last week's modest gains, according to daily BunkerVision price data via international marine fuel oil broker LQM Petroleum Services. The average price for high sulfur bunker fuel...
Rickmers Boosts Bond as Profit, Revenue Shrink Rickmers Group is adding €75 million (about US$103.4 million) to its €175 million corporate bond issued in June. Germany's biggest charter shipowner said it will use the net proceeds to finance growth and refinance bank liabilities and refinancing costs. The increase, via a private placement with a 100 percent issue price, will...
Congressional and JAXPORT leaders: "Port growth projects will move forward" JACKSONVILLE, Fla. (Oct. 25, 2013) - JAXPORT Board Chairman Joe York and CEO Brian Taylor joined U.S. Congresswoman Corrine Brown, U.S. Congressman Ander Crenshaw, State Representative Lake Ray and U.S. Army Corps Commander and District Engineer Alan Dodd today in announcing that the port's two critical harbor improvement projects, Mile Point and...
What they are saying: leaders weigh in on Jacksonville port improvement projects JACKSONVILLE, Fla. (Oct. 25, 2013) - Here's what government, industry and local leaders had to say in support of Jacksonville's harbor improvement projects and keeping these projects on track: Governor Rick Scott "We are pleased the United States House of Representatives passed the Water Resources Reform Development Act (WRRDA) that includes the authorization for...
Robert Voltmann, Transportation Intermediaries Association's President & CEO will be speaking at the 3PL Value Creation 2013 Seminar in Chicago on November 6 Robert Voltmann, Transportation Intermediaries Association's President & CEO will be speaking at the 3PL Value Creation 2013 Seminar in Chicago on November 6 discussing "Global Supply Chain Management Overview". Alexandria, VA October 28, 2013 Robert Voltmann, Transportation Intermediaries Association's (TIA) President & CEO will be speaking at the 3PL Value Creation...
TNT Express's Profit Plummets 25 Percent TNT Express posted a 25 percent year-over-year decline in third quarter profit on 7 percent lower revenue, prompting the Dutch parcel delivery company to intensify restructuring measures to confront difficult market conditions. Net income dipped to €6 million (about US$8.3 million) in the third quarter of 2013, compared with €8 million...
Carriers' Liability: Rooted in Tradition Q: You recently responded to a broker who was suggesting that motor carrier shippers buy their own cargo insurance, saying you didn't think that was going to happen because it would fly in the face of the "tradition" of the industry. But you ignored your questioner's comment that rail and ocean...
NCL cruises to profits surge Norwegian Cruise Line (NCL) posted a 34.9% surge in third-quarter profits but released a slightly less ambitious yield outlook for the full year.
Show me the money Crowley Maritime's $200m fundraiser appears to have reignited questions about how the owners of Jones Act product tankers and other types of US-flagged tonnage will finance fleet expansion in the near-term.
EastMed sued in San Juan A dockworker's family has filed a lawsuit against Greece's Eastern Mediterranean Maritime (EastMed) a year after he suffered a debilitating head injury while unloading a bulker in Puerto Rico.
Gard confirms Roppestad An insider and a Norwegian has been given one of the most challenging jobs in the marine insurance world.
TMM loss cut Mexico's Grupo TMM has reduced its loss in the third quarter as revenue grew.
Kirby edges past Street Kirby Corp has booked a record third quarter profit which measures up well with Wall Street expectations.
Cosco Pac profit up Cosco Pacific has seen its third quarter profit pick up while the sale of its stake in China International Marine Containers has strengthened its cash position.
Scorpio scrapes into profit New York-listed Scorpio Tankers has posted a slim profit in the third quarter, but its big Korean newbuilding finance package has yet to be finalised.
Ardmore admits buy Ardmore Shipping has confirmed its first dip into the second hand market as a public company.
Yujin down to two Singapore's Yujin International has shrunk its fleet to two after selling another old bunker tanker.
Miclyn in Thai tie-up Australia's Miclyn Express Offshore is snapping up a 50% stake in Thai offshore shipping company Uniwise Towage (UWT).
Scorpio creates new giant Scorpio Tankers has teamed up with Dorian LPG to form the world's second largest VLGC owner.
Seacor soars New York-listed Seacor Holdings has posted a stronger third quarter profit after tanker and offshore earnings grew.
Fire hits Grimaldi ship A blaze has been brought under control on a Grimaldi car carrier in Antwerp.
Weaker quarter, stronger year A larger fleet and a gain on newbuilding cancellations could not prevent a slide in profit at Precious Shipping during the third quarter.
Brightoil makes it $100m Hong Kong shipping group Brightoil Petroleum has inked another loan for $50m with China Development Bank Corporation (CDBC).
Ferry stuck in storm A DFDS ro-pax has aborted an entry into Ijmuiden in the Netherlands as a big storm played havoc with shipping across northern Europe.
Hunt on after grounding Police in Ghana are hunting two officers who abandoned an unflagged tanker before it ran aground.
SITC strikes higher note SITC has pushed up its profit in the first nine months of 2013 with the aid of higher volumes.
Golar unit sets stage Golar LNG Partners has set the stage to raise capital after an open-ended shelf filing in the US.
Mitsui eyes bigger profit Japan's Mitsui Engineering & Shipbuilding (MES) is expecting better first-half earnings as revenue improves.
DVB bullish on Indian LNG Growing demand for energy in India is expected to increase LNG imports into the country over the next four years, say market experts.
Seasonal cheer for Sveaas Christen Sveaas-backed Viking Supply Ships has bagged a $120m contract for four of its anchor handlers.
Bahri boosted by gas Saudi Arabian tanker giant Bahri has posted a big jump in third quarter earnings, partly thanks to its holding in Singapore LPG carrier owner Petredec.
Smash closes Kiel Canal Germany's Kiel Canal has been closed on Monday morning after a collision with a gas carrier left a cargoship holed and listing dangerously.
Triyards breaks drought Triyards Holdings has won its first newbuilding contract in almost a year with two deals worth $59m in total.
Malaysia's huge loan spur Malaysia's Shin Yang Shipping has hailed a government decision to lend MYR 3bn ($958m) to boost the domestic industry.
Three more for Hanjin Korea's Hanjin Heavy Industries continued its order run on Monday with KRW 203.54bn ($192m) of contracts for three vessels.
BW faces downgrade BW Group faces a possible downgrade of its Ba2 corporate family and senior secured bond ratings by Moody's.
Glencore grows coal arm Glencore Xstrata has teamed up with Sumitomo to take a controlling interest in Australia's third largest thermal coal mine.
Weaker rates dent OOCL Weaker freight rates across its three main trades have hit the financial performance of liner company OOCL.
Ezion books rig deal Ezion Holdings has scooped a $65m contract to supply a service rig under a three year charter.
Ezra sees improvement Ezra Holdings has posted a 20% jump in fourth quarter profits helped by a recovery at its subsea services division.
Norway top of the pile Norwegian investors remain the top spenders on newbuildings in the first nine months of this year according to Clarkson Research.
TNT Express sees lackluster Q3 revenues TNT Express reported a 6.6-percent, year-over-year decline in revenues during the third quarter, finishing the period at 1.62 billion euro ($2.23 billion) on a 1.3-percent decline in operating expenses.
FDA proposes rule to increase animal food safety
Port of Virginia exports slow in September The growth of ocean container volume at the Port of Virginia in September slowed to 1.5 percent, year-over-year, to 185,185 TEUs, primarily due to fewer exports. Box volume at the port is down by 20,000 TEUs since July.
MarAd meeting to seek public input on maritime strategy The public meeting on developing a national maritime strategy will take place from 9 a.m. to 4:30 p.m. daily, Jan. 14 through Jan. 16, 2014. Ideas for agenda topics will be accepted through Nov. 22.
FMCSA updates HOS rule in Federal Register
UP opens railport to serve Texas oil sector UP's move is the latest example of how logistics and transportation companies are investing to handle inbound and outbound shipments tied to the rapid development of shale rock formations across the United States.
Pacer feels impact of UP deal in quarterly results
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