Consolidation looms as McQuilling launches India shipbroker New Delhi and Mumbai venture with Seaways follows recent Braemar-ACM merger
Cheniere strikes second deal in a few days to sell LNG from Corpus Christi Despite sales deals, LNG shipping needs more new supply
Posidonia 2014: Lauro is 'concerned' about funds fuelling inferior ships Scorpio stopped at 150 newbuildings but backers carried on investing with others
Posidonia 2014: Greek shipping minister calls for EU shipping reform Varvitsiotis decries inconsistent EU maritime policies and European Commission intervention
DHT's Samco deal shows the race is on to land the deal of the year Can stealth player Fredriksen trump the three major VLCC acquisitions of 2014?
Posidonia 2014: Don't kill the market, warns Tsakos 'Keep your pens in your pockets,' TEN president tells Capital Link conference
Posidonia 2014: Product tankers still have reasons for optimism, say Greek owners Crude sector has 'turned the corner'
Rina launches Dolphin ship-noise notation Move responds to IMO circular on reducing disturbance to whales and other marine life
Rio Tinto's landmark Guinea ore project will fill 570 capesizes a year Simandou South offers a multi-billion dollar port development contract
Super-alliances and mega-ships make for a pivotal year for container firms Box shipping segment undergoes its most radical overhaul since 2005
Revised class rules allow bigger boxships to load more cargo on deck Bureau Veritas joins Lloyd's Register and DNV GL to back season-led container lashing
Nordic American Tankers buys two 2005-built suezmaxes New York-listed owner targets up to four vessels on raising $100m to expand its fleet
Thai product tanker recovered after robbery incident Crew of Orapin 4 are unhurt, but fuel cargo is missing
Golden Energy Offshore raises $61m from Norwegian bond issue Restis-owned offshore support vessel company pays off existing debt
Posidonia 2014: Private equity falls out of love with shipping Lloyd's List panel of shipowners voices caution on finance and overcapacity but still sees opportunity in diversified niche plays
Posidonia 2014: DHT agrees $590m acquisition of seven Samco VLCCs Deal includes oil major charters and share of Goodwood Ship Management but is subject to funding
Yangzijiang Shipbuilding hits back at allegations against chief executive Singapore-listed shipbuilder calls accusations of misdeeds by an investment vehicle controlled by Ren Yuanlin unfounded and 'mischievious'
Aronnax: Univan comes clean Free to read: Shipmanager says SOx non-compliance was human error and checks are now in place
Dredging association welcomes new executive director The Western Dredging Association (WEDA) has appointed Eileen Maher as its new executive director, replacing Lawrence Patella, who has served the organisation in that role for 21 years. "I am pleased to welcome Eileen Maher as WEDA's new executive director, where she will continue the exemplary
Mexico port capacity to double Ricardo Martínez Suarez, representing the ports and merchant marine general co-ordination division of Mexico's communications and transport ministry, says port capacity will double in six years and urges investors to look seriously at his country. Currently on a UK tour - Martinez is next billed to
Valparaíso gears for mega box ships Terminal Pac'fico Sur (TPS) at the Chilean port of Valpara'so has bought three giant Liebherr ship-to-shore container cranes to handle the likes of CMA CGM's 16,000+teu Marco Polo box ship in a strategic move that's been planned for more than two years. The cranes are the biggest that Ireland-based
Deep Sea Supply acquires 10 PSVs Deep Sea Supply, the Cyprus-based offshore services vessel operator in John Fredriksen's business empire that is listed in Oslo, will acquire 10 platform supply vessels for $366M and raise $200M in equity through a private placement of stock. The vessels are being sold by PSV Holding, a company
Messina starts new ro-ro service Italy's Ignazio Messina has started a vessel-sharing agreement with Spanish operator Marguisa to jointly operate four sister ro-ros between the western Med and the west coast of Africa. The service will run every 12 days from Genoa via Marseille and Valencia to the west African ports of Dakar,
Damaged ship held in Port Taranaki Maritime New Zealand has detained the 32,282dwt bulk carrier Lake Triview, which was damaged in rough seas on 24 May. The Singapore-registered carrier was damaged when it dragged its anchor and hit rocks near New Plymouth on New Zealand's North Island. The ship has been detained at Port Taranaki
Report blames $17Bn payout on Barrow Island A new report reveals that the location of the Barrow Island mishap and mismanagement were behind Chevron's $17Bn blowout on the Gorgon LNG project, and not labour unions, as previously thought. The report by Bradon Ellem, professor of employment relations from the University of Sydney Business
More Sewol owner followers arrested Three more followers of a religious sect led by the fugitive owner of the capsized ferry Sewol have been arrested. Incheon District Prosecutors' Office announced yesterday that the three followers of Gu Won Pa (Salvation Sect) were arrested for helping Chonghaejin Marine owner Yoo Byung Eun to evade
Korean shipbuilding stocks to rally in 1Q15 Investors looking to buy Korean shipbuilding stocks must do so now at the current price-to-book value or in August when shipbuilders release their 2Q14 results. Shipbuilding orders also tend to decline in August due to summer vacations. Daishin Securities' shipbuilding analyst Feynman Jeon
'Missing' tanker found anchored in Thailand The product tanker, Orapin 4, arrived and anchored at Sriracha, Chon Buri, Thailand at around 19.30 local time yesterday, according to the Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia (ReCAAP ISC). The crew reported that the Thailand-registered tanker
MOL wins Japanese naval architecture award Mitsui OSK Lines has won the 2014 Japan Society of Naval Architects and Ocean Engineers (JASNAOE) Award for developing a waste heat energy recovery system for marine diesel engine used to generate electric power and assist ship propulsion. The system was installed on a MOL-operated large-scale iron
Sembcorp Marine buys stake in GraviFloat Singapore-listed Sembcorp Marine has entered into agreement to acquire a 12% stake in GraviFloat (GraviFloat) for $4M, with a right to increase its stake up to 20% by further equity injection. The investment exemplifies a new business venture for Sembcorp Marine as GraviFloat technology allows LNG
Cheap iron ore imports to continue in China Despite stockpiles of iron ore reaching record levels in China, the country is not expected to slow down its imports of the steel-making ingredient any time soon. As long as iron ore imports are priced attractively, China will continue to demand such imports, said a note from dry bulk consultancy
Yangzijiang refutes allegations against its boss Singapore-listed Chinese shipbuilder Yangzijiang has refuted allegations against its executive chairman Ren Yuanlin. In a statement to the Singapore Exchange, Yangzijiang rebutted the allegations that caused its stock price to drop by 10.6% on Friday, when it closed at S$1.01 ($0.81). Tianjin
Singapore to use offshore and engine room simulators New simulator will allow institute to train students to operate MAN B&W 60MC machinery Singapore's Institute of Technical Education (ITE) has taken delivery of a Transas Marine ERS 5000 full-mission engine room simulator, allowing it to train students to operate MAN B&W 60MC
As Capacity 'Crisis' Eases, Truck Rates Continue to Rise Shippers are agreeing to pay more to secure truckload capacity even as the sharp contraction in capacity seen this past winter eases. Truckload contract rates in May rose between 2.5 and 4 percent, BB&T Capital Markets reported today, while truck capacity swung back toward a balance. The range of those rate...
Shippers Lobby for Scrapping US Container Scanning Mandate WASHINGTON - More than 50 shipper and transportation provider groups are urging the head of the U.S. Department of Homeland Security to ask Congress to repeal a controversial container scanning mandate. The large coalition - representing farmers, retailers, manufacturers, trucking companies, container lines, customs brokers and forwarders - wants DHS Secretary...
NLRB Judge: ILWU Engaged in Illegal Slowdowns at Portland Longshoremen engaged in illegal work slowdowns at the Port of Portland from September 2012 to June 2013 because they were upset over the loss of jobs handling refrigerated containers, a National Labor Relations Board administrative law judge ruled at the weekend. If Judge Jeffrey D. Wedekind's decision is upheld by the...
California Drought Worsens US-Mexico Truck Imbalance U.S.-Mexico surface trade via truck and rail rose 9 percent year-over-year in March. Full-size chart The normal excess of northbound versus southbound truck freight between Mexico and the U.S. is being exacerbated this year because of a high volume of northbound Mexican agricultural goods that is replacing produce normally shipped from California...
Canada's TransForce Buys Transport America, Expands in US Truckload Market Canada's largest trucking operator, TransForce, will purchase U.S. trucking company Transport America for $310 million, including the assumption of $150 million in debt held by the Eagan, Minnesota-based carrier, the companies said today. Revenue growth at TransForce, 2010 to 2013 Full-size chart The largest trucking deal to date in 2014 and the second purchase...
Desperate US Congress Looks to Postal Reform for Highway Dollars WASHINGTON - Congress is rummaging through the stamp drawer to find dollars for federal highway construction, a reflection of just how desperate the race is to save the Highway Trust Fund from insolvency. House Republicans' proposal to cut delivery of first class and bulk mail on Saturdays would save the U.S....
Weak Freight Rates Weigh on Russia's Fesco Fesco Transportation Group's revenue and earnings declined in the first quarter as a weak Russian rail market offset stronger container shipping and the ruble lost value due to the crisis in Ukraine. The Russian company booked revenue of $242.5 million in the three months to March 31, down 11.9 percent compared...
Damen clinches Cat Dutch shipbuilder wins first deal from Norway for oil market workboat.
Wagenborg adds one Dutch owner takes $50m loan from KfW for "walk to work" offshore ship ordered in Netherlands.
DFDS on the road Denmark's DFDS is lining up its third major bond issue in three years.
Ro-pax crewman killed Stena seafarer hit by truck-mounted platform as he directed cars aboard vessel in Denmark.
Vard seals NAO trio Fincantieri-owned shipbuilder Vard Holdings has emerged as the yard behind a new order from Nordic American Offshore (NAO).
NAO aims for $122m Supply ship start-up Nordic American Offshore (NAO) is targeting $121.76m of proceeds from its New York-listing.
Rem reels 'em in Norwegian vessel owner Rem Offshore has agreed a 10 month firm charter with Micoperi for the Rem Pioneer after delivery from Kleven shipyard this week.
Concordia staying in Italy The raised wreck of the Costa Concordia will be demolished in Italy.
Fesco feels it Russia's Far Eastern Shipping Company (Fesco) reported lower first quarter earnings after poor results from its rail operations ate into improvements in container shipping.
GasLog in repair deal Singapore's Sembawang Shipyard has clinched an exclusive deal to repair and upgrade GasLog's fleet of 20 LNG carriers.
Varun loses more Embattled Indian owner Varun Shipping has posted a bigger loss in the three months to 31 March.
Deep Sea raising $200m John Fredriksen's Deep Sea Supply is gearing up for a share sale to pay for 10 new PSVs from the tycoon's private account.
Ren fights backs Ren Yuanlin, the executive chairman of Yangzijiang Shipbuilding (YZJ), has hit back at accusations of "misdeeds" made by rail company Tianjin Guoheng Railway Holding.
LSC wins court cash Latvian Shipping Company (LSC) has been boosted in the first quarter by a $20.05m partial settlement of its London fraud case.
Golden Energy raises $61m Victor Restis-controlled Golden Energy Offshore Services has refinanced its debt with a bond sale in Oslo.
SMM takes GraviFloat stake Sembcorp Marine has moved into the offshore gas terminal sector with a minor investment in Norwegian company GraviFloat.
GasLog tops Greek spenders GasLog's $468m is by far the largest investment by any Greek owner in the period, with Atlas Maritime second with $127m the data shows.
Thai tanker recovered A product tanker believed hijacked by robbers has been recovered, but its cargo has reportedly been stolen.
NAO to launch US IPO Nordic American Offshore (NAO) expects to launch its US initial public offering (IPO) later on Monday, the company has confirmed.
Weekly liner service planned between Philadelphia, Veracruz The Mexican consulate of Philadelphia, the Philadelphia Regional Port Authority, and ProMexico are working with Ship Philly First to generate more business for ports on a congested Mexican border, the company said.
Analyst: Railroad 'renaissance' underway Though railroads are in a repeating investment cycle - carriers invest in their network, which attracts more volume, which requires additional investment - carriers are still turning in valuations that exceed historic levels.
Saudia Cargo starts up Houston freighter flights For the time being, Boeing 747 service will be limited to one weekly flight, but the carrier plans to add an additional scheduled flight in September due to anticipated oil and gas demand.
Century creates mobile app for customers
Swissport partners with Russian airline
House GOP ties highway fix to postal changes
Descartes bolsters trade content with acquisition The logistics and trade software provider Descartes Systems Group has acquired Salt Lake City-based Customs Info LLC, a provider of trade data content for global trade management systems, for $41.5 million.
Manhattan partners with Agile Network for shipment management
Prices soft across Europe Good demand seen in Hamburg.
New design for LNG fuel tank Design employs a simple structure requiring less space.
Prices lack direction in Fujairah No change in Suez.
Plan to ban bunker contaminants could be complicated Voluntary participation likely first step, but testing for many of the proposed forbidden substances is not straightforward.
LNG players form North American pact Aim is to develop commercial LNG marine fuel market.
Port turns its back on cold-ironing Commitments to clean fuel and on-board scrubbers 'eclipse shore power as a viable air-quality strategy'.
Dan-Bunkering hires in Middle East Danish firm makes appointment to Dubai office.
Shipmanager: More crew training after Californian sulphur fine Univan says fuel change over procedure found to be site of error.
Asian bunker market in mixed trading While Hong Kong closed for a holiday.
DNVPS: Commercial pressures won't compromise integrity Surveyors in Singapore won't become more 'supplier friendly'.
Another tanker falls victim to cargo theft in Singapore region Six reports of piracy, robbery or attempted robbery in the Indonesia-Malaysia-Singapore region in the last week.
Titan Petrochemicals on track to regain listing Firm has submitted a resumption proposal to the Hong Kong Stock Exchange.
Fuel-saving boxship joins Seaspan fleet Company to take delivery of three more similar-designed ships this year.
Design for 'eco' bulker nets 100th order Fuel consumption as low as 25 tonnes per day.
FESCO: quarterly profit down But fall cushioned by bunkering division.
Chinese yard delivers first 'eco' bulker Delivery forms part of a 21 order.
- 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
