Aframax fleet growth will be negative this year Scrapping and slippage spell a positive development for flexible tanker segment
Greenpeace protests as Sovcomflot's Mikhail Ulyanov lands an Arctic first Emotions high as tanker docks at Rotterdam carrying the region's debut offshore cargo
Rickmers retains its capital market push, says new chief executive Van Meenen pledges to build on Widdows' legacy
Europe's only LNG export plant is out of action for six weeks Hammerfest loads around six vessels per month but closes for maintenance to June
Fall in Egyptian LNG cargoes hits BG Group's profits The future of the country's liquefied natural gas is at risk, warns a leading global player
Moody's upgrades shipping's outlook to stable for first time since 2011 Decision reflects improved earnings, lower bunker bills and reduced capacity
Conference contrasts There were varying moods at the two recent Global Liner Shipping events
London Gateway and Southampton win as G6 reveals UK transatlantic calls London Gateway gets its first east-west service while Southampton takes AX1
P3 Network to affect Middle East to Asia services Asia-Europe services that call in the Middle East on the eastbound leg will fall into the P3 Network
Language problems contributed to CMA CGM ship collision Radio calls in Mandarin left Filipino officer-of-the-watch unaware of Chinese officers' agreement
Eagle Bulk scores more time Lenders have agreed to give Eagle Bulk another two-week extension as debt-restructuring talks drag on.1119458.timg
Safe sells preferred shares Polys Hajioannou-led Safe Bulkers has returned to the perpetual preferred equity market to raise more growth funding.1437227.timg
StealthGas prices new offering Funds raised by StealthGas via its latest stock offering could be used to build larger-sized LPG carriers.954260.timg
Trans-Pacific lines see early peak Strong demand in the Asia-US container market could point to an early autumn peak season, the trans-Pacific carrier discussion group has predicted.
'Unseated' Trucks Sap Truckload Capacity Think driverless trucks are a futuristic fantasy? Plenty of truckload carriers would tell you they have too many driverless trucks today - all parked against the fence for lack of drivers. Truckload carriers say the rising cost of putting drivers in trucks and keeping them is a major obstacle to...
Lawmakers Pass Florida Chamber-Backed Fuel Infrastructure Bill TALLAHASSEE, FLA. -The Florida Chamber of Commerce applauds the Florida Legislature today for passing a Florida Chamber-backed bill that invests in sustainable and reliable fuel infrastructure systems to help meet Florida's long-term fuel needs at our 11 major ports. Currently, Florida's 39 terminals are located in, or are juxtaposed to 11 of...
'Severe' Trans-Atlantic Space Shortage Due to G6 Rollout A temporary space shortage on the trans-Atlantic is looming thanks to implementation of the G6 Alliance in that trade lane. Mitsui O.S.K. Lines and APL both recently told customers that they anticipate a shortage of space in their trans-Atlantic services in coming weeks as the G6 Alliance network is rolled out...
NFI and Ocean Spray Celebrate Distribution Center Grand Opening CHERRY HILL, N.J., 5/1/14 - NFI, a leading supply chain company headquartered in Cherry Hill, New Jersey, is pleased to announce the grand opening of its Distribution Center in Kutztown, PA. This 1,000,000 square foot facility expands the footprint of NFI in the Lehigh Valley and will serve as the...
Conrad Left Them Laughing Yesterday was gray, gloomy and rainy in Newark, New Jersey - just the kind of day Conrad H.C. Everhard would have picked for a luncheon in his memory. "That's because it would be too wet to play golf," cracked Tom Adamski, vice president at First Coast Logistics, who emceed the event. Conrad...
Costamare Boosts Charter Revenue, Earnings on Bigger Fleet Costamare posted higher revenue and earnings in the first quarter, as the Greek charter shipowner expanded its container fleet. The NYSE-listed group increased its revenue to $114.9 million from $91.5 million in the first quarter of 2013 and booked adjusted net income of $26.3 million, against $21.9 million last time. The company...
Six Companies Interested in Piraeus Stake Greece has received expressions of interest from six companies seeking to bid for a majority stake in the port of Piraeus, its largest container port and an emerging Mediterranean transshipment hub. Four terminal-operating companies and two private investment funds expressed their interest in acquiring a 67 percent stake in OLP, the...
AirBridgeCargo's Traffic Hits All-Time High AirBridgeCargo Airlines, Russia's largest all-cargo carrier, posted its strongest-ever quarter, with traffic growing 9 percent to 86,500 metric tons in the first three months of 2014. ABC, which is celebrating its 10th year in business, said growth was driven by improved markets in Russia, Europe, the Americas and the Asia-Pacific region. The...
Nhava Sheva Terminals to Close for Two Days Jawaharlal Nehru Port Trust will close all its marine terminals for nearly two days starting on the morning of May 1 because of a 36-hour electrical power shutdown planned by local authorities for maintenance and supply improvements, leading to temporary operational disruptions at India's largest container gateway. "As there would be...
TSA Members Plan Peak-Season Surcharge Encouraged by growing cargo volumes and relatively high vessel utilization rates, shipping lines in the eastbound Pacific announced their intention to implement a peak-season surcharge of $400 per 40-foot container effective June 15. The announcement today by the Transpacific Stabilization Agreement, which represents 15 lines that carry U.S. imports from Asia,...
Drewry: Asia-US Rates Drop Again Drewry Container Rate Benchmark, April 30, 2014. Full-size chart The Drewry benchmark rate for shipping from Hong Kong to Los Angeles declined once again this week. The Hong Kong-to-Los Angeles rate dropped 2.6 percent or $50 per 40-foot container in the week of April 30, falling to $1,850 per FEU. In the past...
Cecon closes in on final lap Cecon has secured approval to postpone the repayment of bonds that were scheduled to mature this week.
Order overdose? Shipyards in Asia and many other regions enjoyed a steady stream of orders during the better part of the first quarter but activity started to taper off by late April, a top brokerage told clients this week.
Bank grabs auction cash Commerzbank of Germany has been awarded the proceeds from the auction of a bulker in Malta.
Costamare JV loan close Costamare and partner York Capital are closing in on financing for five large newbuildings.
Lloyds closes on $500m sale Lloyds Banking Group has reportedly found buyers for its final $500m shipping loans sale.
Maersk seals $300m deal Denmark's Maersk Supply Service has won a $300m contract from Petrobras for four anchor-handlers.
Distress detector Costamare continues to find distressed deals in a market where the flow of bank related sales remains below expectations.
Arrest in bribe case An Indian shipping ministry official has been arrested in a bribe inquiry.
Sewol warning ignored An off-duty Korean captain has claimed the owner of the sunken Sewol ferry ignored his warnings about cargo over-loading.
SCF slams green stunt SCF Sovcomflot has hit out at Greenpeace for endangering both the environment and lives during a protest against a tanker in Rotterdam today.
TMM chops loss Mexico's Grupo TMM has reduced its deficit in the first quarter as revenue improved.
Frangou builds holding Angeliki Frangou has completed half of a planned share buyback at her flagship company Navios Maritime Holdings.
Chinese whispers An accident report has revealed a conversation in Mandarin between watch officers was lost in translation, causing a serious smash off China involving a CMA CGM boxship and a Sincere Navigation capesize.
Greenpeace hits SCF ship Greenpeace activists have left their mark on an SCF Group (Sovcomflot) tanker in the latest round of protests against Arctic oil shipments.
Imabari's dry double Japan's Imabari has clinched an order from Yang Ming for two new 60,000-dwt bulkers.
Fisher starts strongly UK shipping group James Fisher said on Thursday it had started the year well, as analyst Investec slapped a buy rating on the company.
Bugbee ponders buy-back Scorpio Bulkers is ready to borrow a trick from its sibling Scorpio Tankers and launch a share buy-back programme.
Saga kickstarts IPO UK insurer and cruiseship owner intends to sell £550m of shares on London exchange.
Subsea builds backlog Oslo-listed Subsea 7 has won a $160m three-year contract extension from BP in the US Gulf.
Crimea's Russian bonus? Crimean shipyards could be in line for a windfall from their new Russian masters.
Sellers unrealistic DHT Holdings says its expansion plans have been thwarted by a "failure to find common ground" on secondhand ship values.
StealthGas raises $47m StealthGas has raised around $47m in gross proceeds from the sale of common stock, the company has confirmed.
GSL courts new clients Global Ship Lease (GSL) appears to have accelerated the pace of a campaign to secure work for a pair of containerships that have been on charter to CMA CGM since its inception.
Widdows stands down Ron Widdows is standing down as chief executive of Rickmers Group as the company reports a near 11% drop in full-year revenues.
CMA CGM teams with GAL CMA CGM is teaming up with Gulf Africa Line (GAL) on the latter's US Gulf to South Africa liner service.
CGG gets bond away CGG has successfully raised a further $500m from the international capital markets with an eight year bond issue.
Eagle extends again Eagle Bulk Shipping has secured another stay of execution after being given two more weeks to restructure a major credit facility.
Cards on the table Global Ship Lease (GSL) of the UK is actively evaluating opportunities to expand its fleet of containerships, management told investors Wednesday.
ISC sees red Diversified US operator International Shipholding Corp turned in a first-quarter loss Wednesday but the deficit didn't derail plans to declare a dividend.
Kirby inks ATB trio Kirby Corp turned heads Wednesday after unveiling plans to construct three more articulated tug barges (ATBs).
Safe pulls the trigger Safe Bulkers is poised to rake in $50m from its latest Wall Street fundraiser, the Greek bulker operator told investors Wednesday.
Rickmers CEO to leave in May Rickmers Linie Chief Executive Officer Ronald Widdows, who has also served as Rickmers Group CEO since April 1, 2012, will step down from his post on May 1, Rickmers announced Wednesday.
TSA plans for peak season Members of the Transpacific Stabilization Agreement will soon experience a general rate increase and peak season surcharge, following a surge in eastbound bookings that is expected to continue.
SDV expands to Myanmar
3 new cranes part of major expansion at Port Newark Port Newark Container Terminal said it will add three super-post-Panamax ship-to-shore cranes this year that will be able to accommodate larger vessels and increase the terminal's capacity.
Yang Ming upgrades intra-Asia services
Martin Bencher acquires tti Logistics
Shippers push for Congressional rail reforms Congressional action is needed in order to provide shippers with competitive rail service, according to a letter sent to Congress by more than 25 shippers and shipper groups.
CBP to hire 2,000 additional officers
Moody's revises shipping industry outlook The rating agency Moody's said it has revised its outlook for the global shipping industry to stable from negative, reflecting its expectation that the shipping industry's aggregate (EBITDA) will rise by mid-single digits in percentage terms year-over-year in 2014.
Crude oil train derails in Va. as U.S., Canada try to improve tank car safety
Ex-Im Bank selects Sub-Saharan Africa advisory members
Weak demand in Fujairah Public holiday in South Africa.
Prices mixed across most bunkering hubs MGO prices in Gibraltar, Piraeus down by double digits.
EU must take lead in enforcing ECAs, says government official 'We are quite aware of the problems with enforcing the sulphur regulations,' says senior Danish offical.
Gas earmarked for bigger role in Japan LNG as marine fuel forms part of the picture in dynamic energy market.
Cuts in bunker spending boost shipping's prospect Credit rating agency upgrades shipping from 'negative to stable'.
Military ship emissions exemption provokes controversy in Hong Kong Re-zoning of dockside area could increase pollution and threaten public health.
Bunker prices weaken in Tokyo Bay While Singapore, Hong Kong, Busan closed for a holiday.
WFS posts quarterly gains Higher bunker prices cushioned fall in bunker volume sold during Q1.
Japanese shipping giant returns to black Results helped by weaker yen and falling bunker prices.
Iran sees growth in annual bunker sales volume Managing Director of state-owned NIOPDC expecting sales to strengthen.
Swedish firm steps toward 'new era of marine propulsion' To launch a 'supercharged' electric passenger ferry this August.
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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