Shell prioritises navigational audits Close engagement with the bridge team via navigational audits has been "incredibly valuable" for Shell, a company executive told a Nautical Institute seminar in London last night. David Hill, deputy designated person ashore at Shell, told attendees at 'Watchkeeping Standards - Do Navigation Audits
Bulker giant maintains cost control Star Bulk, the largest US-traded dry bulk company including newbuildings, has posted lower than expected third-quarter losses due to its cost-control efforts. The NASDAQ-listed owner reported net income of $221,000 for 3Q14, compared with a net loss of $168,000 in the same period last year.
Hapag-CSAV union is sealed A merger between Hapag-Lloyd and CSAV's container shipping business has finally been closed after anti-trust clearance from all relevant authorities, the partners announced today. The German carrier and its Chilean counterpart are poised to become the world's fourth-largest box operator through a
Parakou secures NASDAQ listing Parakou Tankers will become a publicly traded company in the US following its reverse merger with Cambridge Capital Acquisition Corp, a NASDAQ-listed blank-cheque company formed last year. On 2 December, Cambridge and Singapore-based Parakou Tankers - an offshoot of Hong Kong's Parakou
Nam Cheong adds subsidiaries in Malaysia Singapore-listed offshore services provider Nam Cheong has set up two new wholly owned subsidiaries - SK Power and SK Precious - in Malaysia's Labuan federal territory. The two firms were incorporated by SK Global, an indirect wholly owned subsidiary of Nam Cheong. Both new companies have been set
Container spot rates set to sag in 2015 Container spot freight rates are likely to slip in 2015 amid continued overcapacity and weak pricing discipline, says Sydbank senior analyst Jacob Pedersen. In November, spot rates sank about 15%, with Asia-Europe rates leading the decline, he said in a monthly review of the shipping markets. "The
South Stream diversion may spur shipping Russia's decision to divert the South Stream gas pipeline to Turkey raises the issue of how Europe might alternatively source gas, says Frode Morkedal, a shipping analyst at ABG Sundal Collier in Oslo. Agreed in 2006, the pipeline had been due to carry 63M cbm of gas per year from the eastern
Dry bulk vessels continue to shed value Dry bulk carriers are still losing value, although owners look unlikely to book impairment charges this quarter, say analysts. Kurt Waldeland and Erik Nikolai Stavseth, shipping analysts at Arctic in Oslo, said "asset values have continued to slide through 4Q14" in the absence of a seasonal upturn
One dead, 52 missing as trawler sinks A South Korean stern trawler flooded and sank in the Bering Sea yesterday, leaving one of its 60 crew dead and 52 missing. Oryong No. 501 (IMO number 7388504) went down at about 14:20 Korean time while catching pollack off the coast of northeast Russia's Chukotka region after seawater entered its
Report shreds Hong Kong Terminal 10 plan Hong Kong's proposed development of a 10th cargo terminal, at southwest Tsing Yi, is economically unviable, according to a report released yesterday. But the 'Study on the Strategic Development Plan for Hong Kong Port 2030' said Kwai Tsing container port needs more land to stay competitive. While
Mermaid Maritime seeks M&A opportunities Singapore-listed offshore services provider Mermaid Maritime is eyeing the merger and acquisition (M&A) market on the back of its strong financial performance. CEO and executive vice-president Chalermchai Mahagitsiri told IHS Maritime that, despite volatile oil prices, the company finished its 2014
Oil price drop to hit Korea's shipbuilding industry The drop in oil prices would affect Korean shipbuilders both offshore and commercial vessel players, said an analyst in a research note. Samsung Securities analysts Young-soo Han said, "The Korean shipbuilding share price index fell 5% last week, after oil prices declined following an Organization
NYK subsidiary creates fuel additive Nippon Yuka Kogyo, a subsidiary of Japan's second-biggest shipping company Nippon Yusen Kabushiki Kaisha (NYK), has developed an additive for low-sulphur gas oil. The company says the product would improve the safety of bunkering equipment. Generally, various additives are needed to improve
MODEC teams up with Schahin in FPSO project MODEC and its Brazilian partner Schahin Group have won a contract to supply, charter and operate a Floating, Production, Storage and Offloading (FPSO) vessel by Petroleo Brasileiro (Petrobras). In late November, the two partners signed Letter of Intent (LOI) with Petrobras on the same project, a
CSA calls for supervision of shipping alliances China Shipowners' Association (CSA) called for government departments to strengthen supervision over shipping alliances, especially the alliance of foreign shipping companies, on 27 November. "The government should enhance supervision over industrial organisations, including shipping alliances,
Star Bulk open to new mergers while ramping up consolidated entity Much of its activity during the third quarter centered on 'defensive stance'
European lines tighten their grip on box trades as Hapag-Lloyd and CSAV merge Carriers must integrate as quickly as possible to achieve cost savings of $300m
Smit among tug firms raided by Dutch and German competition authorities Update: Six companies said to be under investigation
Hapag-Lloyd and CSAV complete merger of container businesses Ownership structure of German line to change as CSAV acquires 34% shareholding
Cambridge Capital and Parakou Tankers plan a 20-tanker buying spree Mergers and acquisition firm has the muscle to expand the Singapore owner's fleet
Busan urges northeast Asia ports to co-operate Lim speaks out as South Korean hub faces growing transhipment rivalry from China
The race is on as container lines finalise 20,000 teu boxship orders G6 members MOL and OOCL are front runners as top carriers eye their next newbuildings
Fuyo Kaiun chooses aframax time charter over spot market Japanese owner puts Rich Duke II on 12-month time charter for $18,750 per day
Asia-Europe trade volumes continue upward trend Peak leg trade figures show 8% growth for the first nine months of this year
US port congestion hits transpacific reliability But global carrier performance improves as congestion in north Europe eases
VLCCs answer a $64,000 question Big tankers' fourth-quarter earnings hit a four-year high
Tokyo court ends Sanko reorganisation Japanese dry bulk and tanker operator went bust in 2012 and has been under court-led reorganisation for more than a year
Cleartrade and Baltex open FFA competition via LCH Clearnet Singapore-based Cleartrade will offer LCH EnClear futures contracts, as Baltex launches block trade facility in the wake of LCH's reclassification drive
Port Metro Vancouver finalizing North American drayage program Port Metro Vancouver is putting the finishing touches on the first drayage program in North America that will seek to balance truck capacity with demand in order to promote profitable operations for motor carriers and a sustainable wage level for drivers. Canada's largest container port announced that it is finalizing details...
Boston port throughput up for fifth straight month The port of Boston continued a streak of year-over-year volume gains in November, handling 16.5 percent more cargo last month. November throughput at Boston hit 18,371 TEUs. Full size chart. Though traffic slowed a little as peak season subsided, November throughput at Boston hit 18,371 TEUs, 16.5 percent more than November 2013. Year...
Shipping emissions at ports to quadruple by 2050, report says Most shipping emissions at ports are set to increase fourfold through 2050, requiring strong abatement measures on shipping in targeted regions in coming decades, according to a new report by the International Transport Forum. Carbon dioxide and mono-nitrogen oxide emissions from ships in ports are forecast to rise up to...
World Bank to invest $1.2 billion in East African transport infrastructure Photo courtesy of TCITS.A $1.2 billion investment from the World Bank will help five East African countries to improve transportation infrastructure and boost efficiency at the region's largest ports over the next seven years. The investments will be spent, in part, to develop inland waterways and enhance capacity at the area's...
Seattle-Tacoma alliance moves one-step forward with regulatory nod Photo courtesy of the Port of Tacoma.WASHINGTON - The ports of Seattle and Tacoma are one step closer to creating an alliance to protect and even expand their container market share after getting a green light - one of two needed - from U.S. maritime regulators. Members of the U.S. Federal...
Canada's Manitoulin acquires Canfleet to expand ocean exports to Asia Manitoulin Global Forwarding, part of one of Canada's largest freight companies, is strengthening its links to Asian markets and Western Canada base by acquiring Canfleet Logistics of Vancouver, British Columbia, which offers ocean export and logistics services. "An ongoing quest for Manitoulin is to extend our customers' global reach, with an...
Freightquote acquisition expands C.H. Robinson's LTL, e-commerce reach The largest U.S. freight broker, $12.8 billion C.H. Robinson Worldwide, is buying one of the largest Internet-based truck freight brokers, Freightquote.com. The $365 million cash deal will open new opportunities for C.H. Robinson in e-commerce and less-than-truckload markets. "E-commerce is going to be a bigger part of future supply chain services...
LA-LB congestion wreaks more havoc on liner schedule reliability Ongoing congestion at the ports of Los Angeles and Long Beach continued to hurt the schedule of reliability of carriers calling the largest port complex in the Americas last month, according to SeaIntel Maritime Analysis' latest Global Liner Performance Report. Trans-Pacific eastbound schedule reliability dropped 3 percentage points from September to...
Japan, Turkey begin free trade negotiations TOKYO - Japan and Turkey have kicked off negotiations on a bilateral free trade agreement, as Tokyo sees the newly industrialized country as a potentially lucrative market and strategic gateway to other markets in Europe, the Middle East and elsewhere. Under the proposed FTA -dubbed the Japan-Turkey Economic Partnership Agreement (EPA...
Cost-conscious carriers put focus on port, terminal efficiency With congestion and other terminal-related charges increasingly impacting bottom lines, ports are rapidly moving to center stage in ocean carriers' strategic planning. That was the key message to emerge from JOC Group's inaugural Port Performance Conference-Europe in London last month, where port, carrier, shipper and other interests highlighted the challenges facing...
Hapag-Lloyd, CSAV complete merger, creating world's fourth-largest ocean carrier Hapag-Lloyd and CSAV have completed their merger to become the world's fourth-largest ocean carrier. The German and Chilean shipping companies said the merger of CSAV's container operations, which was agreed in April, was finalized after obtaining all necessary regulatory approvals. The merged carrier will have a fleet of around 200 ships with...
Sealing shipment integrity Q: We're a motor carrier, and I have a question regarding a carrier maintaining seal integrity, and the consequences of it not doing so. To be more specific, I have a few shippers who will reject any incoming loads if there is a broken or missing seal, and demand that the...
Lawmakers agree on bill to limit FMC terms, create maritime strategy U.S. House and Senate negotiators have agreed on a bipartisan bill to limit Federal Maritime Commission members' terms, reauthorize the FMC and Coast Guard budgets at current levels, and establish a national maritime policy to encourage U.S.-flag shipping. The provisions were included in a Coast Guard reauthorization bill endorsed by Republican...
ILWU monopoly is main cause of negotiation strife The mess at U.S. West Coast ports continues to get extraordinary coverage and attention, and the mess just gets worse. The apparent lack of real progress in negotiations between waterfront employers represented by the Pacific Maritime Association and the International Longshore and Warehouse Union caused me to pause and recall a...
Indian shippers face steeper intermodal haulage fees Full-size imageIndian shippers, already hit hard by port congestion and ocean carrier surcharges, face steeper haulage charges to move their containerized goods via rail. The Ministry of Railways plans to charge intermodal operators, including state-owned Container Corporation of India, 25 percent to 41 percent more for using the network of Indian...
Solid multimodal operations lift Fesco's interim earnings LONDON - Fesco, the Russian transport group, posted higher revenue and earnings in the third quarter as double digit growth in rail and port traffic, and deep sea container volumes offset the negative impact of a weaker rouble. Earnings before interest, tax, depreciation and amortization rose to $55.1 million in the...
Cape retreat continues Freight rates for capesize bulkers trading in the spot market continued to slide Tuesday, which marks the continuation of a losing streak that has lasted for nearly two straight weeks.
Star Bulk plots disposals Star Bulk Carriers of Greece is planning to offload ageing tonnage under a broader effort to plug a funding gap that could top $100m in the coming years.
Authorities raid Smit offices The world's largest operator of harbour tugs has emerged as one of the targets of an investigation led by competition watchdogs in the Netherlands and Germany.
Star Bulk clinches cash Star Bulk Carriers of Greece appears to be making progress in its crusade to line up commercial debt to fund fleet expansion.
SBLK in the black Star Bulk Carriers managed to eke out a modest profit in the third quarter, a period in which many of its peers suffered heavy losses.
Officially together The merger of Germany's Hapag-Lloyd and Chilean partner Compania Sud Americana de Vapores (CSAV) is ready to start business after receiving approval from all relevant global authorities.
Schettino takes stand Costa Concordia captain Francesco Schettino has made a combative first appearance at his trial for manslaughter.
Build your ships locally Nigeria has introduced a new regulation which ensures that certain components of vessels built to operate in Nigeria are fabricated within the country.
Parakou picking off tankers Parakou Tankers has revealed plans for a radical expansion of its fleet as part of its move to go public in the US.
GasLog targets 40 ships Greek owner GasLog and its GasLog Partners spin-off have unveiled their blueprint to grow the fleet to 40 LNG carriers by 2017.
Mercuria takes OW staff Swiss trader Mercuria is building its presence in the ship fuel sector by adding close to 40 ex-OW Bunker workers.
Parakou going public Parakou Tankers has taken a shortcut to the US capital markets after combining with Nasdaq-listed Cambridge Capital Acquisition.
Taiwan Nav weaker Taiwan Navigation has posted lower third quarter profit as operating costs rose faster than revenue.
Baja bids for SNCM Mexican operator Baja Ferries has lodged a formal offer for bankrupt French ro-pax group SNCM.
Billionaire stacks up on SALT Hedge fund billionaire Marc Lasry has built on his holding in Scorpio Bulkers.
Tianjin firms VLCC order HNA group company Tianjin Marine has won Chinese regulatory approval for a share issue to fund its big VLCC and LNG carrier order spree.
Sanko officially free A Tokyo court has formally ended the reorganisation process for slimmed-down Japanese owner Sanko Steamship.
HMM plots fundraiser Hyundai Merchant Marine (HMM) is considering further fundraising to improve its finances, but it has not yet finalised details.
Allied takes cape pulse Capesize rates have grossly disappointed in the fourth quarter and more trouble lay ahead for owners in 2015, according to Greek broker Allied.
Dynagas puts $500m on shelf Dynagas LNG Partners has laid the foundations to raise up to $500m from investors.
Anek ferry hit by fire An Anek ro-pax has been damaged after a fire broke out in its engine room.
Caneco for sale Brazil's bankrupt Estaleiro Caneco shipyard in Rio de Janeiro is up for grabs again.
Jinling wins CNCo ship The CSC Jinling shipyard in China has announced an order for an environmentally friendly cement carrier.
Van Oord goes shopping Van Oord has reached agreement on the acquisition of the activities of fellow Dutch company Ballast Nedam Offshore.
Mermaid makes Jaya claim Jaya Holdings has received a claim from Mermaid Marine Asia over an alleged breach of warranties related to the purchase of its offshore businesses.
Marine Atlantic to raise ticket prices despite falling oil price Ferry operator's switch to more expensive diesel behind move.
DNV GL's notation helps assess newbuilds' LNG-readiness Verifies that vessel complies with rules governing gas-powered ships.
World Fuel Services acquires WMF from OW Bunker Bankrupt firm bought WMF in June 2014.
Skuld issues new ECA warning On-board procedures must ensure effective fuel segregation.
Marine technology company sets up European subsidiary Triton Emission Solutions says 'multiple shipping companies' have options on its sulphur reduction technology.
Danish firm lands its first scrubber order System worth up to $5 million to be installed on ferry by April next year.
Ferry company preparing ECA surcharge 'We support the environmental demands of the new rules, but we would have liked some more flexibility,' says P&O.
Swiss trading house to hire over 30 ex-OW staff Mercuria has moved to become a significant player in the marine fuels market.
Bunker demand to grow on the back of rising global trade IEA analyst makes new five-year forecast for bunker demand.
Liquidator clarifies its position over OW's Asian receivables 'ING does not have claims over all the receivables of the failed companies in Singapore.'
Cruise liner adds to 'eco' order Newbuilding promises 'significant' bunker savings.
Financial holding firm expands Asian oil operations Company already has plans to enter marine fuels sector in Singapore.
Emissions-reducing technology claims industry award System may be combined with scrubber systems to remove sulphur from flue gases.
Turkish yard to build pioneering offshore vessel First to feature an electro control system that optimises fuel consumption.
Mauritius bunkering plans take step foward Gibraltar's bunkering superintendent to act as consultant.
CEPSA gives details of ECA-compliant product 'We will test the market and see what the demand is.'
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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