OGP publishes guidelines to deal with major offshore incidents Association urges regional bodies to use the framework to evaluate readiness
Strike Club grows as operators seek protection from delays Shipping seeks cover against war risks, loss of earnings and disrupted schedules
Bridging the divide between research and accepted shipboard equipment Bringing new ideas to market is always difficult in the conservative shipping industry
Hapag-Lloyd introduces low-water charge for Montreal services Port struggles to load as St Lawrence River falls
Scorpio Tankers posts second-quarter profit Time charter equivalent revenue revenue climbs by $30.5m
UK P&I warns over ballast-water rule complacency Owners need to be aware of requirements beyond installing a treatment system
Court orders CSC Phoenix to send supramax bulkers for auction Decision comes after troubled Chinese state carrier misses loan payments to bank
Shares of the dispute Nobu Su's pledge of 25m shares in Vantage is at the centre of the US Chapter 11 case
Working better Owners need to stay on the ball regarding the ballast water convention
Ennore names box port bidders Ennore Port Container Terminal project lures 11 applicants
Product tankers linked to STX Pan Ocean are sold Sales come as the South Korea-based owner seeks to stabilise its finances
German shipowners welcome new ship valuation rules Long-term asset value concept overcomes short-term market disruptions, say leaders
Precious Shipping posts stronger profit in second quarter Thai dry bulk player records one-off gain for novation of newbuilding contract at ABG
Rickmers Maritime second-quarter net profit declines Singapore shipping trust blames lost days due to vessel drydocking and rise in fees
South American winter boosts demand for VLGCs Brazil drives South American demand
Capesize market retains quite a kick Restocking continues but slowdown in China will dampen demand
Restis family pledges continuity after fraud raid Huge fleet is operating normally despite arrest of Victor Restis, sister says
STX pledges $105m as collateral against Kexim loan South Korean conglomerate keeps shipyard afloat after divesting from energy
Yangzijiang bags up to four bulk carriers from Peter Döhle State lender renewed credit line to yard at a cheaper cost
Rightship and IBM harness Big Data to boost dry carriers' risk assessment Vessel-vetting firm launches more sophisticated software
'Stagnant' market weighs Danaos NYSE-listed Danaos today reported declining adjusted profits but confirmed progress on its deleveraging
Costamare rides perpetual preferred wave NYSE-listed Costamare announced today that it will sell perpetual preferred shares and confirmed two newbuild orders by its joint venture with York Capital
STX shares drive ahead on bailout plan SHARES in STX Corp and STX Pan Ocean continued to rally today, as investors have regained confidence since Korea Development Bank unveiled a planned bailout
Relaxed Jones Act seen as security risk US SECURITY would be undermined if a proposal to overhaul the Jones Act passes Congress, a lobbying group for the law has warned
Swiber bags $435M in contracts SINGAPORE's Swiber Holdings said today it clinched offshore contracts worth about $435M for integrated construction and support services
Stocks at major Chinese steel mills soar 30% CHINA's stocks at major steel mills rose 30% to 12.7M tonnes in late June, compared with the beginning of 2013, Beijing said
Diana Containerships falls into red SIMEON Palios-led Diana Containerships confirmed today that it has swung to losses, weighed by vessel sales and lower rates
NCL yield growth outperforms rivals NASDAQ-listed NCL today posted a 67% jump in adjusted profits, with yield performance topping Carnival and Royal Caribbean
Kangaroo cargoes jump back into crisis RUSSIA, the biggest export market for kangaroo meat, has put the trade on the hop by suspending the exporter's authorisation
JNHI swung to losses in 1H SHANGHAI-listed CSSC-JNHI said today it swung to losses of 61.5M yuan ($10M) in the first half of 2013
Jakarta urged to import more crude INDONESIA, which was an OPEC member just five years ago, needs to increase its crude imports because demand is growing at home even while domestic production is dropping, a tanker broker has warned
2Q13 Precious profits soar THAILAND's Precious Shipping said today profits for the second quarter ended 30 June soared to 161.2M baht ($5.2M) mainly due to a gain on novation of a shipbuilding deal
RMT banks on Panamax container ship scrapping RICKMERS Maritime Trust expects older Panamax box ships to be scrapped as deliveries of ultra-large ships rise amid poor markets
Drewry: account for peak season box slippage PEAK SEASON is losing importance in container trades because of changing buying patterns of consumers, according to Drewry, the London-based shipping consultancy
Panalpina profits nearly double LOW RATES and weak volume growth could not stop Swiss freight forwarding group Panalpina's better 2Q performance
CTS: Indian Subcontinent Exports Up in Most Lanes Containerized exports from the Indian subcontinent to Europe are moving closer in number to the amount of containers exported to current top trade partner Far East Asia, as the region continues to slip, according to data from Container Trades Statistics. Exports to all other reported regions were up this month. Indian...
Mexican Trucking Pilot Project Rolls On The U.S. Court of Appeals in Washington upheld a federal cross-border trucking program allowing certain Mexican trucks to operate in the U.S., rejecting challenges to the program from the Teamsters union and owner-operators. The court gave a green light to a Federal Motor Carrier Safety Administration program under which 12 Mexican...
Japan's ANA, JAL Report Air Cargo Growth Japan's All Nippon Airways said its international cargo volume rose for the fourth straight month in June on a year-over-year basis, jumping 11.1 percent to 47,303 tons. ANA's domestic cargo volume grew for the first time in three months in June on a year-over-year basis, increasing 2.4 percent to 37,226 tons. Meanwhile,...
China, Japan, Korea to Meet Again on FTA Trade negotiators from China, Japan and South Korea will hold their second round of negotiations on a free trade agreement starting July 30. The four days of talks in Shanghai, China, follow the initial FTZ discussions held in Seoul in late March. The countries' delegations will be headed by deputy ministerial-level...
Profit Climbs at Saia Less-than-truckload operator Saia reported increases in revenue and profit in the second quarter of 2013, even as tonnage the company handled fell. Revenue rose 2 percent year-over-year to $293 million, and net income climbed to $13.5 million from $11.9 million in the same quarter last year. LTL volume dropped 1.6 percent year-over-year...
Strength of VPA Bonds Affirmed by Moody's, S&P; Outlook is "Stable" Norfolk - Moody's Investors Service and Standard & Poor's, two leading international bond rating agencies, have affirmed the strength of $274 million in outstanding port facilities revenue bonds sold by the Virginia Port Authority and gave a "stable" outlook in their rating of the bonds. Following its review of VPA's overall...
Transloading Seeds Domestic Intermodal Growth Domestic and international intermodal, the two dominant forms of the U.S. and Canadian containerized rail business, are heading down separate tracks, and the space between them is widening as weak import growth combines with shippers' growing penchant to transload goods into 53-foot domestic containers. Domestic volume rose 7.8 percent year-over-year in...
Record Tonnage, Intermodal Volume for Georgia Ports The Georgia Ports Authority's Ports of Savannah and Brunswick handled record tonnage in fiscal year 2013, and a record volume of freight moved by intermodal rail as well. In the year ending June 30, the GPA moved a record-setting 27.23 million tons of cargo across all terminals, for a 2.4 percent...
Slideshow: Eight Ways to Fund Infrastructure Without Raising Taxes Let's face it, unless there's a sudden sea change, the U.S. Congress isn't going to raise the motor fuels tax to increase transportation infrastructure spending any time soon. Transportation and business interests that include the U.S. Chamber of Commerce can push all they want for the first such tax hike...
PIERS: US Containerized Exports Rose in May U.S. containerized exports through May 2013 Full-size image U.S. containerized exports rose 1.5 percent year-over-year in May, totaling 1,044,837 20-foot-equivalent units, according to preliminary figures from PIERS, a JOC sister company. The increase followed a similar, albeit smaller, year-over-year rise of 0.8 percent in April's volume. May containerized exports were also up...
Drewry: Carriers Shouldn't Count on Peak Surcharges The peak season in the eastbound trans-Pacific is not what it used to be. As a result, ocean carriers should not count on a big revenue boost from the peak-season surcharge they are planning to implement in the trade on Aug.1, according to Drewry Maritime Research. The carrier members of the Transpacific...
Inland Distribution Focus: Kansas City Chris Gutierrez, President of Kansas City SmartPort speaks with JOC Special Projects Editor Alessandra Barrett about the work being done in the region to attract freight-based economic development and grow the e-commerce piece of the trade. Chris Gutierrez will discuss the attributes and challenges of dealing with inland ports as part...
Little Change Reported in Bunker Fuel Prices for Week Bunker fuel prices - Rotterdam Full-size image Spot prices for bunker fuel were mostly unchanged in the week ending July 26, with both high and low sulfur fuel slightly above $600 per metric ton, according to daily BunkerVision price data via international marine fuel oil broker LQM Petroleum Services. The average price for high...
Henningsen Announces Promotions (Hillsboro, OR) July 22, 2013 - Henningsen Cold Storage is pleased to announce two important leadership changes. Christopher Henningsen will assume responsibilities of the newly created position; Vice President, Information Services. Chris previously held the position of Vice President, Warehouse Operations, where he was responsible for daily warehouse operations and management...
Seaspan in $550m order Seaspan Corp revealed a $550m containership order as it reported second-quarter earnings that swung sharply to the black but fell shy of expectations.
Jones Act attacked A coalition of US shipowners and builders has taken aim at a politician who has proposed legislation to relax the US-build requirement of the Jones Act for vessels that trade between the mainland and Puerto Rico.
CMRE lines up offering Costamare has joined a growing number of US-listed shipowners that are looking to raise cash through the sale of preferred shares to the public.
Palios defends slash Diana Containerships' sharply reduced dividend should still show investors that the shipowner will continue to deliver a substantial quarterly payout, chief executive Simeon Palios said today.
Swiss takes Cosco cape SwissMarine has taken on a capesize bulker from Cosco in a deal which hints the company is locking ships into longer deals.
Panama wants crew out Panama could send 35 North Korean seafarers home at the end of any trial for weapons smuggling.
Med hot for suezmaxes An upturn in activity from US charterers is helping drive suezmax rates to the highest level seen this year.
Libya hit by strike Operations have been halted by worker action at Libya's two biggest crude export terminals.
Diana falls to red Diana Containerships fell to a loss during the second quarter as it booked impairments on the recent sale of a trio of boxships for scrap.
Scorpio slightly short Scorpio Tankers has recorded its second successive quarterly profit as it continues to take delivery of its vast newbuilding orderbook.
Restis in freedom bid Lawyers representing Greek shipping and business magnate Victor Restis will petition the Athens court of first instance tomorrow in an attempt to have him released from custody.
Zhou eyes dredgers Nasdaq-listed Pingtan Marine Enterprise's boss Xinrong Zhou has offered to buy its dredging operations in return for a debt write-off.
NCL in the red Refinancing costs dragged Norwegian Cruise Line (NCL) to a net loss during the second quarter.
Two more for Kouan China's Taizhou Kouan has clinched a bulker order a month after winning new boxships from Simatech.
GE chalks up another Great Eastern Shipping has written its third cheque in two weeks to secure the purchase of a products tanker, brokers believe.
Carnival: no Arison salute Carnival has denied its Carnival Sunshine passed dangerously close to shore in Venice, after witnesses claimed it was "saluting" owner Mickey Arison's yacht.
COSL bags two more China Oilfield Services (COSL) has picked up a pair of platform supply vessels at compatriot shipyard Xiamen Shipbuilding Industry Co.
Golar cloud cleared A huge newbuilding finance package has removed one of the major question marks surrounding investment in Golar LNG, one of Wall Street's most respected shipping analysts says.
Dalnave orders double Greek owner Dalnave Navigation has signed up for two new 64,000-dwt ultramax bulkers at Chengxi Shipyard in China.
Lakes waste plan delayed A plan to ship 16 radioactive steam generators from Canada to Sweden has been put on hold after local opposition.
China puts dry on track A fresh stimulus deal in China will deliver a boost to the dry cargo market over the next couple of years, Jefferies says.
Split supplying engines The Brodosplit shipyard in Croatia has won a deal to build two engines for tankers being built at Croatian rival Brodotrogir.
Tug-barge in ice smash A tug-barge has grounded off Alaska after hitting an ice floe.
Bulker sets new low A new price low for 2013 has been set with the scrapping of a Chinese-owned bulk carrier in Bangladesh.
Two yards mull BC bids Canadian shipyards Seaspan and Allied Shipbuilders are considering whether to bid for domestic owner BC Ferries' new order.
TMM loss grows Mexico's Grupo TMM has recorded a bigger loss in the first half, but has hinted at an expansion plan this year.
Business as usual Enterprises Shipping & Trading says it's business as usual despite the arrest of major shareholder Victor Restis.
PB linked to handysize Pacific Basin is being linked with the purchase of a Sinotrans handysize bulker recently reported sold by TradeWinds.
Otto sells AHTS duo Otto Marine has sold two large anchor handlers for a total of $170m in a deal that will help improve its finances.
Swiber in the money Swiber Offshore says its order backlog has been boosted by $435m of new contracts, but it gave few other details away on the deals.
U.A.E. issues cargo fire safety recommendations The United Arab Emirates' General Civil Aviation Authority has made a number of recommendations stemming from the cargo fire that lead to the Sept. 3, 2010 crash of a UPS Boeing 747-400 freighter in Dubai.
Taylor takes helm today at Jacksonville port The former Horizon Lines executive was offered the job in June, but some members of the port authority's board had asked whether there might be any conflict of interest in hiring Taylor because he was receiving a severance package from Horizon.
U.S. steel imports drop 14% in June
Port of Miami's leadership could be clarified next month Port Director Bill Johnson indicated in late April that he would probably apply to head the Beacon Council. If tapped as the area's top corporate recruiter he would be replaced by his second in command, Juan Kuryla.
NY/NJ congestion, tolls cause cargo diversion Gerard J. Coyle, vice president of environmental and sustainable operations for Evans Delivery Co., said at a House field hearing that "the New York City Metropolitan area has some of the worst traffic congestion in the nation."
FDA proposes rules for third-party food import audits
U.S.-Dominican apparel program comes up short
GAO: CBP should examine southwest border processes
CSX cleans up train derailments in Md., Fla.
Drewry: Carriers shouldn't count on peak season revenue boost
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