DHT orders three VLCCs as it starts raising $227m for fleet expansion UPDATED: Letter of intent signed with HHI for three vessels at $97.3m each
Rate volatility set to return after Chinese new year Container derivatives brokers expect a tough time for carriers' attempted increases
US holds all the cards in LPG Owners bet everything on the country's growing gas exports
Isis crew receive back pay but await money for repatriation costs ITF has set Derna Carriers a five-day deadline to pay outstanding costs
Capital Product scores increased credit facility to hunt tankers and boxships Revenues rise as three recent containerships kick in
Welcome to The Week on Wall Street Lloyd's List US correspondent's new column is shipping's Letter from America
Aker Arctic appoints new board following government takeover New Finnish icebreaker secured with Russian bank guarantees
TEN offering will raise cash for growth New fundraiser comes as interest in crude tanker stocks picks up
Japanese lines expect box trades to remain under pressure NYK, MOL and K Line warn of weakening prospects
Mercator Navigation tankers will stay in Scorpio pools German manager clarifies new ownership structure
How a shipping firm with no vessels on the water has become flavour of the month on Wall St Scorpio Bulkers has moved fast, cashed in on 'brand Bugbee' and raised $905m from a frenzied investors' scramble to buy shares
Five suspected pirates transferred to Seychelles for prosecution International court has prosecuted 33 to date
Aurora LPG registers on Norwegian over-the-counter exchange Newest liquefied petroleum gas shipping company targets expansion
Data Hub: World Fleet Update Record 1.7m teu of boxship deliveries scheduled for 2014
Pacific International Lines in the spotlight Company Focus: PIL set to continue its straightforward and proven path of organic growth and a flexible approach to its chosen trades
Clarksons director named chairman of Maritime UK Evans succeeds Stewart at the helm of industry lobby
Exmar sees profits double on robust LPG exports out of US US LPG exports kept market tight in fourth quarter
MOL's nine-month results go back to black Firm downgrades its annual ordinary income forecast amid depressed boxship markets
K Line's bulk division buoys its nine-month earnings Company's box unit posts operating loss
NYK posts a jump in nine-month profits to $277m Small gain for the container division as strong bulk results support robust earnings
DHT poised for more VLCCs Hours after a major equity sale, DHT has revealed letters of intent with Hyundai Heavy Industries (HHI) for three more VLCC newbuilds
Capital Product Partners back in black Evangelos Marinakis-led Capital Product Partners has swung to a fourth-quarter profit on rising rates
TEN prices equity sale Tsakos Energy Navigation (TEN) has priced a follow-on equity offering at a hefty discount to the stock's previous closing price
Calls grow for Indian Ocean shipping line A regional shipping line is needed to serve the Indian Ocean islands and east Africa, according to some speakers at Transport Events' recent Indian Ocean Ports & Logistics Conference in Mauritius
NOCC board rejects Klaveness-JP Morgan bid The board of Norwegian Car Carriers (NOCC) has rejected an offer tabled by the Klaveness group and JP Morgan, saying that it does not reflect the underlying value of the company
Cyclone Dylan passes and ships return to anchorage All North Queensland bulk ports reopened at 10am local time in the wake of Cyclone Dylan passing over the coast and being downgraded to a tropical storm
Mixed financial fortunes for Japan's big three Japan's big three reported varying fortunes for 3Q13, with both MOL and NYK Line improving their bottom line and "K" Line announcing an extraordinary loss
Damen wins Promar PSV order Damen Shipyards Group has won an order from Switzerland-based shipowner Promar Shipping Services for two Platform Supply Vessels (PSVs)
Trapped icebreakers in danger from icebergs When the MV Akademik Shokalskiy and the Xue Long sent out distress calls over Christmas and New Year, it was not just because the ships were trapped in Antarctic ice
HHI wins Metrostar VLCC pair Hyundai Heavy Industries (HHI) has won an order for another pair of VLCCs from Greek owner Metrostar Management, which will be built at its Gunsan yard and brings the owner's total on order to six
Global Maritime Forecast 2014 had no shortage of story lines that reshaped the global maritime market. Introduction of the P3 Network among the three largest carriers, expansion of the G6 alliance's service network and the merger of Hapag-Lloyd and Chile's CSAV dominated the discussion and forced shippers to adapt. As the year closes,...
Intermodal: Year-End Review and Outlook Long dominated by rapid growth in the movement of U.S. imports, the true success story for intermodal railroads in recent years has been on the domestic side, where traffic is growing more rapidly than international volumes. With increasing amounts of traffic shifting from trucking, that domestic focus likely will continue...
Asia Maritime As one of the world's primary drivers of global trade, the Asia-Pacific region has been the biggest success story in a maritime industry beset with problems for three years. But like other markets, it's undergoing rapid change that is changing the dynamics. The introduction of the P3 Network among Maersk...
Global Logistics Global supply chain interests have endured monumental change over the past three years as shippers and transportation providers have reshaped the way global trade moves in a new world order. Cargo owners are keeping inventories leaner than ever as they pursue new sourcing alternatives closer to destination markets, in the...
Canada Trade Canada's four main container ports - Montreal, Halifax, Vancouver, and Prince Rupert - handle different levels of cargo for domestic Canadian consumption, combined with being entry points for cargo to the U.S. market, creating unique supply chain challenges while offering shippers and carriers an alternative to the largest U.S. ports....
Port Productivity: 2013 Rankings and Best Practices This webcast will analyze some of the crucial issues confronting ports and container terminal operators in clearing cargo from ship to shore, be it at the berth, in the yard or at the gate. Those challenges are only getting greater as ships increase to sizes unimaginable just a decade ago,...
SCFI Quiet Ahead Ahead of Chinese New Year Shanghai Containerized Freight Index, U.S. West Coast, week ending Jan. 31, 2014 Full-size image Spot container freight rates from Shanghai to the U.S. and Europe edged lower this week, but both markets are still holding on to substantial gains achieved late in 2013. Spot rates as tracked by the Shanghai Containerized Freight Index,...
DCLI to Put Radials on 20,000 Chassis Direct ChassisLink is launching a program to replace bias-ply tires with radial tires on more than 20,000 chassis and plans eventually to convert its entire fleet to radials, as part of its 2014 expansion program. Intermodal chassis are among the last holdouts for bias-ply tires, which vehicle manufacturers replaced years ago...
Knight Transportation's 4Q Earnings Top Expectations Knight Transportation reported its net income in the fourth quarter of 2013 was $20.1 million, improving 13.6 percent year-over-year from $17.7 million, partially fueling an 8.1 percent gain in profit for the full year of 2013. Stifel Transportation & Logistics Research Group said that Knight's earnings were ahead of consensus analyst estimates...
Intermodal Pays Off for Canadian National Railway CALGARY, Alberta - Canadian National Railway's $220 million investment in its Calgary area logistics park, which opened a year ago, is a case study in how intermodal is paying off for Canada's largest railroad. The busy gates and positioning near a growing metropolitan area helped drive CN's intermodal volume up 8...
UPS Plans to Avoid Another Christmas Crunch in 2014 With fewer than 330 shopping days until Christmas, UPS is already preparing for the next holiday peak, determined to avoid mistakes made in 2013 that led to a last-minute delivery debacle and stripped $178 million from its domestic package operating profit in the fourth quarter. The express package giant was...
Transloading Hits Record at LA-LB in 2013, But Future Growth Uncertain The transloading of imported cargo from marine containers to domestic containers in Southern California increased sharply in 2013, but new data suggests transloading has hit a plateau and future growth will be incremental. The longer-term implication of this trend, if it plays out, is that it could indicate retailers and other...
Ocean Carrier Reliability Sags, SeaIntel Says Container ships arrived at their destination ports across the globe on time 73.7 percent of the time in December 2013, falling 7.7 percentage points from 81.4 percent in the previous month and marking the lowest schedule reliability in the last two years, according to the latest Global Liner Performance report...
CMA CGM Announces New Middle East-Somalia Service [Updated] Somalia coastline near Mogadishu.CMA CGM has announced the launch of a new direct service from the Middle East to Somalia. The Noura Express service, which was slated to launch yesterday with the Kailas, voyage DB227R, will connect Mogadishu, Somalia, with the container line's long-haul services via Khor Fakkan, the United Arab Emirates. The...
US, 11 Pacific Rim Countries Closing In on Trade Pact After 20 rounds of talks, the U.S., Japan and 10 other Pacific Rim countries are poised to deliver the text of the far-reaching Trans-Pacific Partnership. The TPP could become reality this year, but will the reality match the hype? U.S. Trade Representative Michael Froman has described the TPP as a "21st...
FREE mulls disposal FreeSeas appears to be in the process of offloading one of its youngest handysize bulkers.
Kamsarmax coup Navios has been linked to the acquisition of three kamsarmax bulkers controlled by Active Shipping of Turkey.
Premuda in penalty box Another vessel has landed in hot water with the US Coast Guard (USCG) for failing to comply with restrictions aimed at reducing air pollution.
Khanna lifts curtain Pioneer Marine has broken its silence about the identity of ten bulkers that were acquired during the first phase of its campaign to build a fleet of up to 30 ships.
Eletson on the record Eletson Holdings of Greece has confirmed the identity of the long-range-one (LR1) products tankers it recently acquired for $66.3m.
TEN hires reinforcements Some of the most notable names in the shipping arena have been recruited to aid Tsakos Energy Navigation (TEN) in its latest campaign to raise cash on Wall Street.
Qatargas details LNG STS Qatari charterer Qatargas has given a few initial details of its contingency LNG ship-to-ship (STS) transfer operations between two of its Q-Flex LNG carriers off Singapore.
DHT doubles VL orderbook DHT Holdings has doubled its newbuilding orderbook with a deal for three new VLCCs at Hyundai Heavy Industries.
Atlantic fixes for four An Atlantic Offshore supply ship has won a four-year charter for well-support work.
Capes next for Cosco TradeWinds digests the digits making the headlines this week.
CPP back in black Nasdaq-listed Capital Product Partners (CPP) has returned to profit in the fourth quarter as boxship acquisitions boosted revenue.
DHT back for more DHT Holdings has secured over $200m from its second equity issue in three months as it looks to continue its expansion efforts.
NAT wins suezmax spat Nordic American Tankers (NAT) has won compensation from Dubai's Gulf Navigation for poor maintenance of a suezmax it chartered out until 2010.
WEM bulker on block A WEM Lines bulker is to be auctioned off after being arrested in Malaysia.
Promar orders PSV double Promar of Switzerland is heading to Dutch shipbuilder Damen for two platform supply vessel (PSV) newbuildings.
CMES facing big loss China Merchants Energy Shipping (CMES) has forecast it will fall to a big loss for 2013.
NOCC: still no deal The three independent directors of Norwegian Car Carriers (NOCC) have again rejected a takeover bid from Klaveness and JP Morgan.
Havila slightly short Havila Shipping has turned in a slightly weaker than expected set of fourth quarter numbers.
Crash conundrum solved A DFDS ferry smashed into a UK berth after a propulsion back-up button was accidentally pressed, an accident report has revealed.
Seizert sells down Diana Shipping's largest independent shareholder has cashed in most of its chips in the New York-listed bulker owner.
Azuma pushes up profit Japanese cement carrier owner Azuma Shipping has increased profit in the nine months to 31 December.
Meiji makes more Meiji Shipping is set for an improved annual profit after jacking up its bottom line in the first nine months.
Amsterdam expands The Dutch port of Amsterdam is spending EUR 100m ($135.5m) on expansion projects to cope with bigger products tankers.
NS United bounces back Diversified Japanese owner NS United has recorded a vastly improved nine month performance on the way to a strong return to full-year profitability.
Iino on the up Japan's Iino Kaiun Kaisha has pushed up nine-month earnings as revenue grew.
Daiichi does better Bulker owner Daiichi Chuo Kisen has reduced red ink again in the nine months to 31 December.
Reefer 'a time bomb' Micronesian officials fear a spill from a Chinese reefer stuck on a reef since 11 December.
The five-day king We take a look at what was said in the market over the past week.
NYK comes out tops NYK, Japan's biggest shipowner, has seen net income for the first nine months of the year, increase nearly nine-fold.
K Line powers ahead K Line has recorded a near 70% improvement in its financial performance for the first nine months of the FY 2013 financial year.
Dry and wet boost MOL Strong capesize rates and a late surge in VLCC rates helped Mitsui OSK Lines (MOL) improve its results for the first nine months.
Clipper has a nose job Clipper Group is the latest shipowner to alter the bulbous bow on one of its ships in a bid to improve fuel consumption.
Pirates handed over Five men believed to have taken part in an attack on a Navios product tanker have been handed over to authorities in the Seychelles.
TNT Express decides to keep Brazilian operations After trying to sell its domestic Brazilian business for nearly a year as part of a company realignment, TNT Express has ended discussions with potential bidders and has decided to hang on to the operations.
COSCO containership, tanker collide
Revenue up, profit down at CN
MOL vessel on-time arrivals down in TP, up in Asia-Europe The liner carrier MOL (America) said this week that its on-time vessel arrival performance fell marginally from the third to fourth quarters on the transpacific trade, but rose in the transatlantic and Asia-Europe trades.
Revenues rise at Norbert Dentressangle
Norfolk Southern opens Chesapeake bulk transfer facility
K+N, SAS continue logistics agreement
Henningsen Cold Storage expands in Portland
Kane Is Able expands to Detroit market
Correction: New JaxPort master plan focuses on rail
Freight interests encouraged by State of Union address Leslie Blakey of the Coalition for America's Gateways and Trade Corridors pointed out that transportation infrastructure was raised near the beginning of the speech, while the national audience was likely at its highest point.
China rejecting U.S. corn exports China has been rejecting large quantities of genetically modified corn shipped from the U.S., according to press reports.
U.S. GDP grew 3.2% in Q4
Florida Gov. Scott unveils transport budget
Sen. Boxer, Rep. Shuster receive port industry honor
NTSB to hold hearing on UPS Airlines crash
Japanese carriers report losses in container units
Bunker prices firm in San Francisco Demand was said to be relatively quiet at the US West Coast port.
Weekly Global Market Report A weekly price roundup from bunkering hubs around the world.
2013 fuel sales up 10% at Gazprom Neft Marine Bunker Firm sold 3.2 million metric tonnes of bunker fuel in 2013.
Hull, rudder modifications lead to fuel savings for firm The Clipper Galaxy has experienced 8.5% in fuel savings, says firm.
'Scrubber' decision boost for US port Carnival Cruise Lines to stick with Baltimore.
Bunker prices soft across regional bunkering hubs But prices firmer in South Africa.
Prices show mixed trend across Europe Prompt product tight in Rotterdam.
Analysts still expect scrubber demand to climb Sulphur regulations should be a boost for shipyards.
Tanker owner sells older ship for 'eco' alternative Loss made on deal.
LNG bunkering: European Commission remains 'ready to help' Applications for funds must have 'facts, figures and budgets'.
Singapore deploys 24 vessels to tackle bunker leaks 'Most of the affected areas have been cleaned up', says MPA.
Singapore owner contemplates eco buys Siva Bulk looking at fuel-saving, Japanese designs.
Norway highlights shortcomings in IMO scrubber guidelines Points to inconsistencies found after recent experience on installation and verification of systems.
Bunker prices soften in Tokyo Bay 'Very quiet' demand seen at the port.
Pump system management can add to fuel savings More shipowners turning to system as fuel management tool, says manufacturer.
US barge operator posts annual profit Demand for marine diesel engine services boosts firm's bottom line.
- 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
