Genco gets one more day Company reaches waiver agreement with lenders
Shagang arrests HNA crude tanker Shagang continues to pursue HNA with 'clear message' of second arrest in two weeks
Marine environment protection committee meets in London IMO member states debate whether to delay Tier III NOx emission rules
China Rongsheng admits losing all offshore orders Lack of export credit insurance and bank financing puts brakes on lucrative offshore deals
Solvang boosts scrubber orders to meet pending sulphur challenge Norwegian owner orders more exhaust gas cleaning systems on newbuildings
Euronav's Rodgers takes helm at International Tanker Owners Pollution Federation Former Maersk Tankers chief Hanne Sørensen steps aside to focus on Damco
Transport lender bullish on smaller LPG carriers CIT looking for more deals after Epic Gas loan
Exmar sees profit boost on disposals Turnover down at Saverys gas specialist
China Merchants issues $2bn in mandatory convertible securities China port player reports net profit up 18.8% in 2013
CMA CGM upgrades six newbuildings to 17,700 teu French line scales up to match P3 partners Maersk and Mediterranean Shipping Co
Chemnav reaches for $115m to help fund six newbuilds Move reflects increased attention on chemical tankers
Shipowner groups welcome Brussels move on consortia regulations Extending the rules would offer legal certainty, say three top associations
Boxship sells to Indian breakers for more than $500 per ldt Free to read: GMS warns of 'delirious optimism' as volatile market delivers a string of high-priced deals
NYK aims to triple net profit and invest $8bn in strategic sectors Japanese shipping giant bets on LNG and offshore business
CMA CGM cuts debt by 20% as terminals sale boosts net profit to $408m Updated: P3 lines prepare for July start date, pending final antitrust clearance
Shipping confidence hits a six-year high Survey reveals boost from recovering rates and private equity involvement
Rising values spark boom in first-quarter tanker sales and purchases Experts report nearly $4bn worth of deals as amount of tonnage sold is doubled
Ten ships search Indian Ocean for Malaysian Airlines flight MH370 Australia reports no new progress finding aircraft missing with 239 passengers
Wrist Ship Supply posts 25% annual profit growth Danish ship supplier cites improved efficiency and expanding shipping and offshore markets
MOL seeks to double net profit by pushing into LNG and offshore Japanese shipping giant plans to cut exposure to bulkers, tankers and boxships
Yang Ming reports $95m net loss Poor rates environment blamed for Taiwan line's weaker 2013 operating performance
Evergreen Marine posts $49m loss for 2013 Slip into the red on flat revenue reflects last year's tough rates environment
China Rongsheng posts a deeper annual loss of $1.4bn Revenues fall 83% on-year, as shipbuilder strikes credit-relief deal with its banks
Dry bulker prices extend gains Values of second-hand dry bulk vessels continued to appreciate across all segments last week despite a softer sentiment on the freight markets, a shipping analyst has noted.
Faulty ship's lifeboat led to serious injury A ship's engineer on board the Maltese registered bulk carrier Aquarosa was seriously injured when a lifeboat was accidently released during an inspection this month, the Australian Transport Safety Authority reported today.
CMA CGM profits up 23% Container line operator CMA CGM ran up a $26M deficit in the final quarter of 2013 but still pushed up full year profits 22.8% year on year to $408M.496694.timg
Vinashinlines starts bankruptcy proceedings Vinashin Ocean Shipping Company (Vinashinlines) has asked to start bankruptcy procedures at the Ha Noi People's Court, Vietnam's official media have reported.
Avance seeks $100M in Oslo IPO Avance Gas Holding Ltd says it has resolved to launch an IPO and to apply for a listing of its common shares on the Oslo Stock Exchange.
Wilh. Wilhelmsen completes bond issue Wilh. Wilhelmsen ASA says it has completed an issue of a NK800M ($133M) worth five-year senior unsecured bond with maturity due in April 2019.
ABG shipyard debt restructuring agreed Lenders of debt-ridden ABG Shipyard have cleared its debt restructuring and given a Rs 21Bn ($350M) lifeline to India's largest private shipbuilder.
Indian port hunts for illegal gold and cash Port authorities in India are today searching for a consignment of gold and currency thought to have arrived illegally by ship.
Troubles over the rainbow for Boskalis Dredging in Maldives has been halted after property and vegetation was covered with sediment as a result of 'rainbowing' - the spraying of material from a dredger's bow-mounted nozzle.
MOL Group introduces new management plan Japan's Mitsui OSK Lines (MOL) announced its new three-year mid-term management plan that will take effect in April 2014.
Nam Cheong sells two offshore vessels Nam Cheong Limited today reported that it has sold another two vessels worth approximately $43.1M, making it a record sale of seven vessels within the first three months of this year.
RSHI losses shoot up in 2013 China Rongsheng HI (RSHI) today said its losses shot up 1415% year on year to CNY8.7Bn ($1.4Bn) in 2013, due to delayed new vessel buildings and deliveries, as well as surging provisions.
Canada, US Rail Proposals Could Lower Prices But Hurt Service WASHINGTON - Some U.S. and Canadian railcar shippers could get some pricing relief if efforts in Washington, D.C., and Ottawa to change switching rules take effect. Switching, or transferring loaded railcars from one railroad's track to another's, is what knits together the North American rail system for everything from tank cars...
Changing With the Times Q: I know you've been writing the Q&A column for about 50 years, and I guess you've been in the transportation industry for longer than that. From what I know of the industry's history, there have been a lot of changes over that time. I'm wondering what you think about all...
Lufthansa Cargo Braces for Three-Day Strike Lufthansa Cargo's services face severe disruption beginning tomorrow as pilots across the German airline stage a three-day strike. The strike by more than 5,500 pilots, the majority in Lufthansa's passenger division, to protest changes in retirement conditions, is due to run from 10:00 p.m. GMT on April 1 until 9:59 p.m....
KKR Backs European Locomotive-Leasing Firm KKR, the U.S.-based global investment group, today announced it is supporting a new European locomotive leasing firm to capitalize on the emergence of private companies spurred by rail deregulation across the continent. European Locomotive Leasing (ELL), which is expected to focus mainly the rail freight sector, has signed a contract to...
TPM 2014 Sponsored Video: Port of Long Beach Al Moro, acting executive director of the Port of Long Beach, discusses growth prospects for 2014, what sets the port apart from competitors, and the port's environmental programs, especially those aimed at shipping lines, as well as steps, such as its capital improvement projects, aimed at meeting new competitive challenges....
CMA CGM's Net Profit Soars on Sale of Ports Unit Stake CMA CGM's net profit surged almost 23 percent in 2013, driven by the sale of a stake in its ports unit, but the French ocean carrier lost money in a volatile fourth quarter. The world's third-largest carrier booked a consolidated net profit of $408 million against $332 million in 2012, bloated...
Truckers Rethinking Rate Expectations: TCP Survey According to the calendar, spring began March 20. In terms of truck capacity, however, spring got its start in December or January, according to Richard Mikes. "Capacity is one season out of phase," said Mikes, a partner at financial advisory firm Transport Capital Partners. "This year, the winter season was the...
Navios closes notes sale Navios Maritime Acquisition has completed the sale of $60m in notes, in part to help fund a recently delivered VLCC newbuilding.
Six pack of picks Jefferies has picked a sextet of New York-listed shipowners as the most attractive investment targets for the next year or two.
Explorer to get upgrade Royal Caribbean International has announced an upgrade programme for a 14-year-old cruiseship that will be repositioned to the United Kingdom.
Grand China VLCC arrested Grand China's 305,000-dwt tanker GC Guangzhou (built 1999) has been arrested in South Korea, in a move almost simultaneous with the release of a capesize bulker previously arrested in Australia -- in both cases by China's Shagang Shipping.
Chinese steel stockpiles dip Chinese steel stockpiles declined by 2% this week, a sign that could bolster iron ore import demand and the bulker market, according to Commodore Research.
Greek crews out again Greek seafarers union PNO has called another strike in protest at contract amendments.
Harkand adds one Oaktree Capital-backed subsea outfit Harkand is boosting its presence in the US with the addition of another Jones Act compliant vessel.
Paper proving popular Dry cargo FFA trading has reached a post-crash high as rates recover and outside investors play a larger role in shipping, SSY Futures says.
Wells tunes SSW forecast Wells Fargo Securities has dialed up its profit expectations for Seaspan after the containership owner revealed further details about its newbuilding orderbook.
Minoan curbs loss Grimaldi-controlled Greek ferry operator Minoan Lines chopped its loss in 2013 thanks to tight cost control.
Sainty seals box quartet China's Sainty Marine has clinched a deal to build four 2,350-teu containerships for Dutch owner Universal Marine.
Yang Ming loss jumps Taiwan's Yang Ming has posted a bigger loss for 2013 as expenses outstripped revenue.
Icon scraps tanker A tanker at the centre of a US oil spill in 2010 has been sent for demolition in Pakistan, brokers say.
Wrist earnings stronger Denmark's Wrist Ship Supply has increased 2013 profit by 25% as revenue grew.
Fesco reverses the red Russia's Far Eastern Shipping Company (Fesco) overturned a big loss in 2012 to return to the black last year.
Owners clinch Chinese cash German owners Peter Dohle and Bernard Schulte have signed finance deals worth $1.2bn with Export-Import Bank of China (China Exim Bank).
Fredriksen buys Greek brace John Fredriksen's Frontline 2012 is said to have snapped up two resales from a Greek owner in what would mark its first investment in the crude tanker market in more than two years.
Holdups hinder Portsmouth plan Political holdups could see a lifeline for shipbuilding in Portsmouth transferred to a site in Dubai.
CMA CGM soars Growing volumes and an asset sale have helped French container line CMA CGM to a bigger profit for 2013.
Pac wins newbuild work Pacific Radiance has secured a $100m charter contract for the newest addition to its fleet.
Solvang VLGC goes long Solvang has secured a long term charter for one of its jointly owned VLGCs.
MOL sets growth course Japanese owner MOL has unveiled a new three-year plan aimed at boosting profit to JPY 110bn ($1.06bn) before 2020.
GasLog execs not selling GasLog executives are not looking to sell off shares despite an SEC filing clearing the way for a large chunk of stock to be traded.
Evergreen a deeper red Taiwanese container line Evergreen's loss has increased in 2013 as revenue fell and costs rose.
Nakilat eyes more of Maran JV Qatari shipping group Nakilat may look to boost its stake in an LNG joint venture with Greek shipowner Maran Gas beyond the current 40% mark.
PIL in scrap score Pacific International Lines has secured a strong scrap price for one of its handysize boxships.
Three missing in smash Three crew are missing after a collision that sank their cargoship in thick fog off China.
Chu Kong stronger Hong Kong ferry and terminals group Chu Kong Shipping Enterprises (CKSE) has posted improved 2013 profit as revenue climbed.
Tanker crew evacuated A Schulte-managed tanker has suffered a fire while anchored off Spain.
Tanker shot at in Hormuz A tanker has come under fire in a rate attack in the Strait of Hormuz on Sunday.
Rongsheng ends in red Rongsheng Heavy Industries Group, China's largest private shipbuilder, posted a second straight annual loss on Monday.
Nam Cheong sells OSVs Nam Cheong has sold another two offshore support vessels in two separate deals worth $43.1m.
Bumi wins Angola gig Bumi Armada has secured a letter of intent (LOI) to supply an FPSO for Angola in a deal potentially worth $2.9bn.
UK nationals held Nigerian authorities have detained two security contractors over allegations of crude oil theft from the West African nation.
Analysis: 'System of engagement' a new goal for supply chain Last week, Greg Johnsen of GT Nexus took part in an EBN live chat about the role networks play in modern supply chains and made a point about the nomenclature that companies use for the systems that bind their enterprises.
USITC: Small/midsize U.S. exporters hindered in EU export efforts Standards and a variety of other trade barriers in the European Union disproportionately affect the exports of U.S. small and medium-sized enterprises more than those of large firms, according to a new report by the USITC.
Chairman of NY/NJ Port Authority resigns David Samson, the chairman of the Port Authority of New York and New Jersey, has resigned, effective immediately, said New Jersey Governor Chris Christie on Friday afternoon.
Port Vancouver port begins truck strike recovery Containers are moving again at a more-normal volume after federal, provincial and port officials agreed four days ago to improve compensation for delivery drivers to end a six-week strike at Port Metro Vancouver.
Prices start week mixed across Europe IFO prices soft in Istanbul.
Prices soft in Fujairah Tight avails in Cape Town.
Piraeus: Ferry strike called Set to last until early Wednesday morning.
Security contractors arrested in Nigeria for alleged crude oil theft Security firm denies allegations.
South Korean refiner buys fuel to use as feedstock But regional fuel oil market remains well supplied.
Bunker tankers complete maintenance Two Lukoil tankers on scheduled maintenance.
Full-scale bunker operations four years behind schedule Bunker operations 'could begin in Hambantota in April'.
DNV GL ups stake in weather data company As shares change hands in company.
Operators worry less about cost of bunker fuel Players less concerned about bunkers in Moore Stephens survey.
More scrubber orders for Wartsila New business includes option and retrofits.
Asian prices show little movement Hong Kong players ready for new sulphur regulations.
Bunker prices 'changed the economics of ship design' High fuel prices condemn ships to early scrapping.
DFDS: Scrubber installations on schedule Firm will be installing scrubber on its sixth vessel in early April.
Number of bunker players set to fall, says executive 'Only a few of the big names in the industry with deep pockets will remain in service.'
Florida-based firm offering biofuel for vessels Product is compatible for use in low and medium speed diesel engines, says CEO.
Combustion quality spec unlikely to be part of next ISO 8217 revision CCAI will probably be kept as indicator of ignition quality despite shortcomings.
Titan Petrochemicals issues profit warning Troubled group delays result announcement.
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