Bremerhaven invests for car export surge Bremerhaven port is undergoing major construction to serve Germany's growing finished vehicle exports, driven by demand in China and North America. Throughput volumes at the leading ro-ro port are expected to total 2.3M cars this year, up from 2.1M in 2013. Local terminal operator BLG Logistics
Fund managers hold off over oil jitters As Asian stocks in the oil and gas sector take a beating, North American fund managers are passing up cheap stock valuations as they await greater clarity on oil prices. While oil and gas stock prices have collapsed globally by 30-50% in the last two months on falling oil prices, fund managers are
MISC sells $66.28M stake in port operator Malaysian state-run shipowner MISC has sold its 15.73% equity in port operator NCB Holdings (NCB) to MMC Ventures (MMCV) for a cash consideration of MYR221.98M ($66.28M). MISC stated that the disposal follows the company's initiatives to divest or exit its non-core, non-energy related businesses
BHIC to design and construct six frigates Malaysia-listed shipbuilder Boustead HI (BHIC) has received a letter of award to design and construct six units of second-generation patrol vessels (Frigate-class) with littoral combat capabilities for the government of Malaysia. The contract was offered to a joint venture between BHIC and
ICTSI to increase Manila capacity International Container Terminal Services (ICTSI) plans to expand yard capacity at Manila International Container Terminal (MICT), the company said on 27 November. The move looks set to ease ongoing concerns about capacity at Manila where there have been severe congestion problems in the past
Taiwan container fleet index launched Taiwan Strait Containerized Freight Index (TWFI), co-developed by the Shanghai Shipping Exchange (SSE) and Xiamen Shipping Exchange (XSE), was launched on yesterday. With the aim of demonstrating the demand-supply and climate index of container shipping across mainland China and Taiwan, the index
Asia-Europe rates fall for a fourth week, erasing November price push Carriers delay next week's planned GRIs as the spot market remains weak
NordLB shipping losses rise despite threefold growth in earnings The German bank's exposure increased although it cut the number of ships on its books
Strike Club imposes 5%-10% rate hikes for 2015 Release call set at 30% as claims climate worsens
Copenhagen Malmö Port launches öresund shuttle Daily barge service will reduce movements of cargo by road
EU navies extend Somalia piracy mission for two years Shipowners welcome the decision, saying east Africa pirates are down but not out
Debottlenecking and productivity drives will raise Rio Tinto's iron ore output Mining giant halts Silvergrass mine but predicts growth out of Pilbara
Sulphur rules claim another casualty as Transfennica ends Spain-north Europe ferry service Brussels emissions legislation kills off European Union-backed bid to shift freight from road to sea
Ocean carrier rate revision roundup for Nov. 28 Multiple container lines have planned general rate increases in numerous trade lanes in November, December and January, although any gains achieved could be temporary as overcapacity and sluggish global demand continue. Asia-Middle East and Indian Subcontinent Maersk Line intends to raise rates on cargo from all Far East origins to Middle East...
EU vessel emissions rule draws ire of shipowners The European Union has agreed a regulation compelling all ships sailing in its waters to monitor their carbon emissions, and it immediately drew criticism from shipowner bodies for complicating, and possibly jeopardizing, ongoing efforts to reach a global accord. The EU's new rule includes a mechanism for monitoring, reporting and checking...
Cosco Pacific gets nod for $285 million investment in Piraeus container terminal The port of Piraeus has approved a long delayed-agreement with Cosco Pacific under which the Hong Kong-based company will invest a further 230 million euros ($285 million) in container facilities at Greece's largest port. Hong Kong-listed Cosco Pacific, which won a 35-year concession to operate two of the port's three container...
Ports forum makes headway in tackling Manila congestion HONG KONG - There is optimism that the congestion choking the port of Manila since February may finally be addressed after Philippine government officials and the shipping industry came together in the capital to tackle the crippling problems. At a high level Manila Ports Forum hosted by cabinet secretary Jose Rene...
Trade facilitation deal finally reached by WTO members HONG KONG - The World Trade Organization's trade measures approved this week in a historic agreement could cut the cost of trade by up to 15 percent, boost the global flow of goods, accelerate economic growth and add up to 20 million new jobs, most of them in developing nations. An...
UASC names industry's first LNG-ready mega-ship HONG KONG - United Arab Shipping Co. today named the industry's first-ever liquefied natural gas-ready ultra-large container vessel at Ulsan in Korea, with Sajir becoming the first of 17 vessels ordered by the carrier. Sajir will begin operating on the Asia-North Europe route after delivery, the line said in a statement....
SCFI latest: Trans-Pacific spot rate plunge erases all GRI gains The busiest U.S. port complex, Los Angeles-Long Beach, handles more than 14 million 20-foot container units of cargo each year.HONG KONG - Shipping lines on the trans-Pacific saw all gains made by the Nov. 15 general rates increases fall away as the spot rate plunged $253 per 40-foot container in...
Port congestion here to stay, MOL executive says MOL is a member of the G6 Alliance.HONG KONG - There will be no speedy solution to the congestion that is creating bottlenecks at ports around the world as terminals battle to cope with growing trade and surges in container volume. Stanley Smulders, senior vice president for Asia-Europe and West Africa...
OOCL joins the list of carriers withdrawing congestion surcharges HONG KONG - Orient Overseas Container Line (OOCL) became the latest carrier to postpone a port congestion surcharge for cargo entering North America via West Coast gateways, reversing a decision to impose the levy announced just days ago. OOCL has put on hold a West Coast port congestion surcharge.With carrier schedules...
Sizing up a broking giant Clarksons has offered investors a flavour of its potential profit power following its $441m takeover of RS Platou as the scale of the enlarged company became clearer.
Atlantic sinks in Q3 Atlantic Offshore has seen its third quarter bottom line turn red.
Costamare shortlisted Boxship power Costamare has been shortlisted for Mitsui OSK Lines (MOL)'s planned ultra-large containerships (ULCs).
New Swedish pool formed Sister companies Concordia Maritime and Stena Bulk have introduced a new pool for four products tankers.
Dof fixes five Norway's Dof group has fixed five platform supply ships (PSVs) on long-term deals.
Fitness test failed Bangladesh has found no suitable vessels to launch a new coastal shipping service to India.
Alternative lifestyles We take a look at what was said in the market over the past week.
NCA arrests Ingvild The Norwegian Coastal Administration (NCA) has arrested a cargoship owned by bankrupt operator Storesletten Rederi.
ESSA orders in China Mexican salt exporting giant Exportadora de Sal SA de CV (ESSA) has placed an eco newbuilding order in China.
Global Carriers cuts loss Malaysian tanker owner Global Carriers has reduced its third quarter loss as it fights delisting in Kuala Lumpur.
Maersk Broker to join the fun Maersk Broker is considering joining in the wave of mergers and acquisitions which is reshaping the European shipbroking scene.
Three-year high The Baltic Exchange's Clean Tanker Index has reached its highest point for three years in an improving products market.
Flex sees red John Fredriksen takeover target Flex LNG has posted a small loss for the third quarter as it seeks charterers for its two newbuildings.
Sales boost Daiichi view A raft of asset sales appears to be paying off for Japanese shipowner Daiichi Chuo.
OW meetings delayed Creditors will have to wait another two months to enter talks over collapsed Danish group OW Bunker's Asian debts.
OPEC boosts tankers OPEC's decision not to cut production to prop up the oil price means investors should turn to the tanker market, analysts say.
Deutschland trip axed A lack of new investors has led to the cancellation of a round-the-world voyage for bankrupt German owner Peter Deilmann's Deutschland.
First for Rolls-Royce UK designer Rolls-Royce has won a deal to design a new type of offshore vessel for Norway's Myklebusthaug Management.
Subsea 7 shares go Offshore shipowner Subsea 7 has cancelled shares worth $39.25m after a series of buybacks.
Ro-ro route axed Dutch owner Transfennica has blamed new low-sulphur fuel rules for the dropping of its route between Spain, the UK and Belgium.
Jinhui doesn't disappoint Jinhui Shipping has reported a loss of $15.7m for the third quarter as forecast at the beginning of November.
Forex losses dent WWS World Wide Supply, the fledgling Norwegian PSV start-up, has posted a pre-tax loss of NOK 76.7m ($11m) for the third quarter.
UASC names first of 17 United Arab Shipping Co (UASC) has named the first of 17 pioneering containership newbuildings at Hyundai Heavy Industries (HHI).
Icon Offshore profit slides Icon Offshore has reported a 15% decline in third quarter net profit on the back of lower utilisation and vessel disposals.
Vogemann's reef fine H Vogemann has been handed an $840,000 bill by US authorities for damages caused to a reef off Hawaii by one of its ships.
Weekly Global Market Report A weekly price roundup from bunkering hubs around the world.
Crew arrested in Singapore for stealing bunkers Stolen fuel worth roughly $44,000.
Gazpromneft: Direct-to-vessel bunker sales up CEO reveals plans to develop a new market sector in LNG bunkering.
Why we don't like ECAs There were several reasons why we thought ECAs may not be a good idea.
FortisBC forks out $5 million to help build two LNG-fuelled ferries Vessels are for Seaspan Ferries.
New roles in London for two OW Bunkers UK traders UK office one of several subsidiaries where employees were left in limbo.
Banks and private funds approach OW creditors Deutsche Bank and private fund SC Lowy named as two players offering to 'buy' OW debt.
India: Extend tax-free period for bunkers Six months is not long enough, say Indian ship owners.
OW: Creditors meeting postponed 'Disappointing' development, says trade source with exposure to the OW collapse.
ICS highlights shipping's CO2 progress to UN climate conference Stresses that any MBM that might be linked to the Green Climate Fund should be a matter for IMO.
ECA rules blamed as another shipping route is axed 'Transfennica has decided to cease its Ro-Ro service between Bilbao, Portsmouth and Zeebrugge.'
Crude oil prices 'could fall to $55 a barrel' No return to $90 a barrel 'any time soon', says analyst as prices tumble in bunker hubs.
Authority issues renewal reminder for bunker certificate Most certificates based on P&I insurance need renewal before February 20, 2015.
Trident Alliance grows stronger 14 shipping companies join alliance weeks ahead of new ECA regulations.
World's first 'LNG-ready' box vessel named Vessel also fitted with approved ballast water treatment system and cold ironing system, says owner.
More worries over proposed EU MRV scheme SSA and FSA join chorus of concerns over the pending EU MRV scheme.
ICS 'disappointed and concerned' over EU's MRV scheme Inclusion of cargo data in the EU regulation will need to be handled with 'particular sensitivity', it says.
New clause adds 'safety-net' against defaulted bunker bills BIMCO's Bunker Non-Lien Clause for Time Charter Parties seeks to reduce vessel arrests.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
