Posidonia 2014: Economou urges Greeks to target the offshore market Margins are higher, contracts are longer and it's easier to forecast cashflow
British security team faces Nigeria court hearing next week Port2Port protection squad are on bail having spent 19 days in jail on bunker-theft charges
South Korean owner rakes in $50m for VLGC charter Good times return for the large LPG ships
India dominates demolition deals but the market may be about to turn Weaker exchange rates and domestic steel prices increase pressure on Alang breakers
Posidonia 2014: The market can be bad for as long as you like, warns Euronav chief Don't get confused by thinking there is any advantage in having a new ship, says Rodgers
JES International will resell two cancelled bulkers Chinese yard finds takers for SCI and Dunhuang 82,000 dwt vessels
CMES sells 1992-built VLCC for recycling State-owned carrier scraps tanker for $13m but may not qualify for Beijing subsidy
Shipping LNG costs 10 times more than coal or oil, warns IEA Agency tells the industry to cut costs as private investors lose their nerve
US west coast ports resume suspended labour talks Pacific Maritime Association and dock unions meet as June 30 contract deadline looms
France tells Maersk to retrieve boxes lost in Bay of Biscay storm Carrier must pinpoint 517 containers washed overboard from Svendborg Maersk
Denmark takes up 2015 SOx enforcement challenge Copenhagen plans aerial sniffer drones and stronger sanctions to make the rules stick
Brokers predict a fresh round of 18,000 teu boxship orders Sources believe the G6 partners will book giant newbuildings to compete against P3
Posidonia 2014: Kallas warns states not to play power games with shipping Outgoing transport commissioner says members must not use IMO to advance national interests
Posidonia 2014: Greek owners buy most newbuildings BIMCO finds that the country has placed contracts worth $51bn since 2010
Posidonia 2014: Samaras puts shipping at hub of Greek recovery Opening speech unveils case for international investment in country's ports and shipyards
Port Hedland peace talks set to begin Unions and representatives of Teekay (Australia) seek to avoid industrial action
Lloyd Fonds aims to launch a replacement for KG funds Multi-vessel retail investor product could be ready in 12-18 months
W Marine orders Green Dolphin 84S quartet Greek shipowner W Marine has ordered up to four post-Panamax Green Dolphin 84S bulkers. Sources indicate the order is two firm with two options. Sainty Marine is the most likely shipbuilder but no delivery details were revealed. The vessel design was developed by the Shanghai Merchant Ship Design &
Tanker owners warn of financial pressure Tanker owners have called for a fairer deal from stakeholders, as a "serious imbalance" caused by unacceptable practices is threatening the industry. At a recent meeting in New York, Intertanko council members signed the organisation's Tanker Industry Voluntary Code of Conduct as a statement of the
Marlink showcases improved IP connectivity Marlink has highlighted at Posidonia 2014, in Athens on 2-6 June, its improved VSAT service plans and new WaveCall Plus services with better IP connectivity, said the satellite services provider. WaveCall Plus services are based on the most extensive global VSAT coverage available and come with
Finnlines orders scrubbers Finnlines will use four PureSOx open-loop scrubber systems on its ro-ro and ro-pax services to comply with environmental legislation that takes effect from January 2015 in the Baltic Sea and North Sea. The company's vessels will operate in emission control areas (ECAs) where SOx emissions are
BV to introduce new stowage notation Bureau Veritas (BV) is to launch Lashing WW, a voluntary notation that opens up more flexible stowage on containerships through revised calculations from the international class society's research into ships in service. The notation is due to be launched on 1 July, the society's marine technical
RINA launches DOLPHIN RINA has developed DOLPHIN voluntary notation for vessels to demonstrate they have initiated changes to mitigate underwater noise, which can affect marine life. DOLPHIN will be applicable from 1 July 2014 for vessels that comply fully with recent guidelines from the International Maritime
LNG bunkering expands in America LNG America and Liquiline will team up to offer LNG as a marine fuel in the ports of Seattle and Tacoma and to transport LNG in ISO containers to remote markets in Hawaii and Alaska. Under the agreement announced yesterday, the companies will work off each other's strengths in LNG logistical support
Port of Hastings project gets the nod Australia is set to have a new 9M teu capacity deepwater port capable of berthing the latest generation of megaships at Hastings, Victoria. The state government said last week the port would come under the Major Transport Projects Facilitation Act. About $102M was set aside in the last budget for
Tanker owners warn of financial pressure Tanker owners have called for a fairer deal from stakeholders, saying that a "serious imbalance" caused by unacceptable practices is threatening the industry. At a recent meeting in New York, Intertanko council members signed the organisation's Tanker Industry Voluntary Code of Conduct as a
No easing of China's megaship ban China's extensive co-operation with Brazil does not mean a ban on oversized vessels at Chinese ports will be relaxed, a source from the Waterway Bureau under China's Ministry of Transport (MoT) told IHS Maritime. The source implied an earlier report about the MoT partnering with Vale was unlikely to
POSH has competitive edge in fleet sectors Singapore-listed, PACC Offshore Services Holdings (POSH) has the competitive edge in midwater or deepwater fleet of Anchor Handling Tug Supply (AHTS) and platform support vessel (PSV), according to Kee Yan Yeo, analyst from DBS Vickers Research. POSH's stock price is currently valued around SGD1.16
SSEFC to launch drybulk contracts Shanghai Shipping Freight Exchange (SSEFC) will launch drybulk freight futures contracts on 18 June. The monthly contracts would be for six months later and there would be four quarterly contracts focusing on freight trading for Capesize, Panamaxes and Supramaxes. The deposit for the contract will
New facilities break ground at Jiangsu yard Jiangsu Haixin Shipping Heavy Industries, the second offshore equipment building base of China Merchants Group, said its new production facilities had broken ground in Jiangsu, China, with an overall investment of about CNY4Bn ($640M). The facilities would produce offshore equipment and specialised
Analyst: Yangzijiang sell-off an over-reaction The selldown on the stocks of Singapore-listed Chinese shipbuilder Yangzijiang was an over-reaction by shareholders, said DBS Vickers Securities today. The stock price of Yangzijiang fell 10.6% on Friday to S$1.01 ($0.80) amid allegations of wrongdoing made against Yangzijiang executive chairman Ren
Two more officials arrested over Sewol An inspector from the Korean Register of Shipping and a manager of Korea Shipping Association have been arrested for their alleged careless checks on the capsized ferry Sewol, the Gwangju District Court's Mokpo branch announced today. The KR inspector, known only as Jeon, was in charge of safety
HMM promotes safety with partner companies Hyundai Merchant Marine, South Korea's second biggest shipping company, held its fourth workshop from 29 to 30 May with 50 partner companies to promote safety and shared growth. The issue of safety, which has become a big topic in the country since the 16 April capsize of the ferry Sewol, was
Contract disputes hinder JES's 1Q14 production Singapore-listed Chinese shipbuilder, JES International Holdings has announced that its sharp decrease in production activity in 1Q14 was mainly due to the continued construction of two vessels, which are under contractual dispute. The fall in production has resulted in a gross loss of CNY 1.1M or
Manila Lifts Truck Ban - But for Just One Lane The Manila daytime truck ban that was suspended to clear containers choking the Philippine port for the World Economic Forum East Asia summit last month is back in force, but with a slight modification. Manila mayor Joseph Estrada has freed one lane of Roxas Boulevard, which runs along the city's waterfront,...
EU Regulators Clear P3 The European Commission said today it hasn't found any anti-competitive issues with the proposed P3 Network, giving the vessel-sharing agreement involving the three largest global container lines safe harbor on the continent. Maersk Line, CMA CGM and Mediterranean Shipping Co. are still awaiting approval from Chinese authorities. Maersk had said recently...
TransForce Sees Growth in U.S. Freight For those who haven't been paying attention to TransForce, Canada's largest trucking operator, it's time to start. The company's $310 million acquisition of Minnesota's Transport America, a $350 million truckload carrier, underscores how big a force TransForce has become in North American trucking. Most reporting on the deal yesterday missed an...
Railroads to Ramp Up Intermodal Pricing to Moderate Growth Intermodal rail shippers could see an uptick in rates not just because truckload pricing will rise, but also because the U.S. and Canadian railroads want to throttle back volume growth to keep favorable margins, a noted rail analyst said. The railroads are under pressure from Wall Street to lower their operating...
Jim Devine to Retire From GCT USA James J. DevineJames J. Devine, president and CEO of GCT USA, parent company of Global Terminal and New York Container Terminal, will retire June 30 and be succeeded by John Atkins, the company's chief operating officer. Stephen Edwards, president and CEO of GCT Global Container Terminals Inc., announced the changes. Devine...
What Shippers See You're the owner of back-to-school goods due to arrive at a U.S. West Coast port in June for delivery to retail shelves in July. If you've been managing cargo for a decade or more, you remember or certainly have read about the 2002 lockout of West Coast longshore workers that...
Florida to Invest Billions to Improve Port Competitiveness Billions of dollars could be handed out to Miami, Port Everglades and Jacksonville in the next five years in an aggressive bid by Florida to capture a greater share of regional container cargo. Under a new five-year plan issued by the Florida Seaport Transportation and Economic Development Council, the three ports...
'Severe' Congestion at Rotterdam Container Terminals May Last Months Heavy congestion at Europe's largest container port due to late arrivals of line-haul ships and other factors could last through the summer, short sea carriers are being warned. Short sea lines have seen their schedules disrupted since mid-April at Rotterdam terminals and could face at least two more months of up...
With Eye on Meat Imports, New Orleans Cold Storage Expands in Charleston New Orleans Cold Storage has plans to more than double the size of its existing storage space at the Port of Charleston, South Carolina. The expansion represents an investment of more than $14 million, of which the South Carolina Ports Authority has approved up to a $12 million contribution to the...
Shipping Corp. of India Loss More Than Doubles State-owned Shipping Corp. of India reported a marginal net profit for the fourth quarter of fiscal year 2013-14, which ended March 31, 2014, but its losses for the full year more than doubled to $46.4 million from $19.3 million in the previous year. The country's largest shipping line made a profit...
Descartes Buys Trade Data Firm Customs Info Descartes Systems Group said it acquired Customs Info LLC, which provides trade data research tools used in global trade management systems, for $41 million, strengthening its presence in providing logistics tools to shippers. Customs Info, based in Salt Lake City, provides trade data and related research tools to some 800 multinational...
Domestic Intermodal Boosts Profit for India's Concor State-owned rail operator Container Corp. of India boosted fiscal year 2013-14 net income 3 percent from a year earlier to $161 million, mainly driven by higher earnings from its domestic traffic segment, the company said in a statement. Total revenue for the year, from April 2013 to March 2014, was $863...
PIERS: US Containerized Exports Extend Slide U.S. containerized exports, April 2013 to April 2014 Full-size chart U.S. containerized exports declined for the third straight month in April, albeit marginally, dropping 0.2 percent year over year. Preliminary numbers released by PIERS, the Data Division of JOC Group, Inc., continued to show year-over-year declines in the volume of U.S. containerized exports,...
FreeSeas protests arrest Greek bulker operator FreeSeas appears to have landed at the centre of a dispute between bunker suppliers and a bankrupt charterer.
BC strike's coal threat Loadings from Canada's major west coast coal terminal could be impacted by a strike approved by tug crews in Vancouver, ship agency GAC said.
Nordcap readies IPO Industry veteran Willem Dekker has emerged as the architect of a start-up that is looking to acquire ten platform-supply vessels with proceeds from an initial public offering (IPO).
Economou holds court Shipping mogul George Economou is urging his Greek compatriots to follow his lead by entering the offshore market in search of higher returns on their investments.
HAL buys Seamec India's HAL Offshore has snapped up domestic shipping rival Seamec following a deal with its previous majority owner Technip.
Russian exit Finnish marine engine builder Wartsila is selling its 50% stake in Wartsila TMH Diesel Engine Company for about EUR 12m ($16.4m) to joint venture partner Transmashholding.
JES to sell bulkers Chinese shipbuilder JES International Holdings is trying to sell two bulkers cancelled by Greek and Indian owners.
W Marine orders again Greek shipowner W Marine has ordered "a series" of post-panamax bulkers designed by the Shanghai Merchant Ship Design & Research Institute (SDARI).
Damaged ship detained Maritime New Zealand (MNZ) has detained a general cargoship that suffered hull damage off Port Taranaki.
$1bn to spend Leading ship management groups V.Ships and Anglo-Eastern are creating a $1bn buying group by pooling their purchasing activities through the Marcas, Marine Contracting Association.
East Med flirts with listing Athanasios Martinos has raised the prospect of private Greek owner Eastern Mediterranean Maritime joining the ranks of public shipping companies.
Atlantska sells again Croatia's Atlantska Plovidba has clinched another ship sale as its fleet renewal continues apace.
Tanker turns back The suezmax tanker carrying the first cargo of crude oil from Iraq's semi-autonomous Kurdish region is reported to have stopped its journey across the Atlantic Ocean after a challenge over the shipment's legality.
Bahri wants $210m Saudi national owner Bahri is asking shareholders to approve a capital increase of $210m to meet the costs of its merger with Saudi Aramco tanker arm Vela International.
Chapter 11 "abused" Euronav chief executive Paddy Rodgers has ripped into rivals for their abuse of the Chapter 11 bankruptcy system.
Oaktree snares Solvtrans A joint venture between US fund Oaktree and top management at Solvtrans has succeeded in winning 91.9% control of the Norwegian well-boat owner.
Adaptable aframax Wartsila is launching a new aframax design at the Posidonia 2014 exhibition in Athens designed to emphasise energy efficiency and provide lower operating costs plus enhanced environmental performance.
Greeks' dry desire Greek owners have snapped up 43% of all the bulkers sold so far this year.
Deep Sea sells out Norway's Deep Sea Supply has raised NOK 1.2bn ($200m) in a private share sale to pay for a 10-ship PSV acquisition.
Hanjin Heavy targets $300m Loss-making Hanjin Heavy Industries is plotting a share sale that could bring in more than $300m.
CMES scraps another VLCC China Merchants Energy Shipping (CMES) has sent another elderly VLCC to the breakers as it awaits eco newbuildings.
ABG turns to loss India's ABG Shipyard has fallen to a loss in the final quarter of its financial year despite stable revenue.
Cheniere's Spanish double Cheniere Energy has signed a major LNG supply deal with a Spanish principle - its second such deal in as many days.
FSG clinches LNG ro-pax Germany's Flensburger (FSG) has emerged as the European yard behind SeaRoad's new ro-pax order.
Cash call fears dent DHT Shares in DHT Holdings faltered Monday as investors reacted to the prospect of a potential fundraiser.
Double deal for Swiber Swiber Holdings has expanded its global footprint while at the same time raising just over $100m in fresh funds.
A passage to India McQuilling Partners has teamed up with India's Seaways Group as it attempts to gain access to the country's shipping market.
Panama Canal CEO says new locks will handle 98% of containerships Jorge L. Quijano, chief executive officer of the Panama Canal Authority, said naval architects have created optimized designs that will allow ships carrying 14,000 TEUs to transit the new set of locks.
CaroTrans creates new China-U.S. services
Ex-Im Bank OKs $1B for exports to Africa in first half of 2014
Yemen to become 160th WTO member The country applied for WTO membership in April 2000. Trade ministers of WTO members officially approved Yemen's accession on Dec. 4, 2013, during the Ninth Ministerial Conference in Bali, Indonesia.
Old Dominion relocates Ore. facility
Yusen Logistics expands in Indonesia
TransVantage owner surrenders to authorities over Ponzi allegations
NEWSFLASH: CMA CGM: No challenge to P3 in Europe French liner carrier CMA CGM said Tuesday the European Commission has informed it, along with Maersk and Mediterranean Shipping Co., that it will not open proceedings in connection with their plans to create the vessel-sharing alliance known as the P3 Network.
Washington Notebook: Industry tries to drive stake through scan-all law
SOx emissions and fuel costs are main drivers for LNG 'LNG is a solution but is not the only solution,' says Lloyd's Register exec.
Prices show losses in northwest Europe Loading congestion seen at Rotterdam, sources said.
Dock labour talks resume As threat of strike action fades.
Fujairah market stable Small gains in Suez.
WFS extends share purchase programme Programme used when stock is considered undervalued.
'Efficiency and low carbon energy' are shipping's future 'Sector must learn to think in new ways.'
'Strong case' for reconsidering timing of global sulphur cap Uncertainty is complicating key investment decisions making 2020 implementation difficult, but it may not be necessary to wait until 2025.
Additive company sees marine market as 'huge opportunity' FOBAS has provided 'no harm' clearance.
Danes and Dutch mirror each other on ECA enforcement Policy document outlines approach to sulphur rules.
C-Fuels America welcomes new trader Gonzalez has 'extensive knowledge of Latin American market'.
MGO prices soften across Asia Mixed demand seen in Hong Kong.
New ship design launched Wartsila offers three versions of design.
Shipping: 'People piling back into the market' Baltic Exchange sees 'change of sentiment'.
LNG-powered ship to enter service in China Ship's 'eco' makeover wins government approval.
ECA sulphur limit to have 'significant pricing implications' Major demand shift from fuel oil to gasoil in 2015.
US Navy sees cheaper alternative in biofuel Up to half of its ships could run on biofuel.
Lukoil-Bunker tankers return to service After undergoing maintenance work.
Chinese bunker supplier bounces back to profit Result helped by asset valuation.
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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