Seanergy is on the up as it awaits the acquisition of four capesizes Restis sisters take a majority holding ahead of reboot for Nasdaq-listed owner
Right on time - liner reliability improves for the third month in a row But May's top carrier rankings show no improvements from K Line or MSC
IACS seeks more ship design data to understand casualties Work to begin on collecting potentially sensitive information to create database with the IMO
Epic Gas agrees two long-term charters with Siva Group Singapore operator continues its expansion drive
Shell agrees to supply LNG bunkers from Rotterdam Gate Fuel-supply infrastructure expands as a third commercial venture is announced this week
Overordering leaves VLGC market hanging in the balance, says Solvang Orderbook at 50% of live fleet is 'enough', says Norwegian owner
Carriers give away $200 per teu in Asia-Europe contract rates Drewry Container Forecaster predicts a widening profit gap between top 20 players
Court relaxes the terms of Zim's golden share Israel Corp is examining the implications of the change in provisions
Golar LNG signs $735m FLNG conversion deal with Keppel Fredriksen gas vehicle makes good its pledge to expand into floating liquefaction
Stolt Tankers dips and rises Profits down quarter on quarter but up year on year
Fredriksen sells shares from capes deal Frontline 2012 and Hemen Holding will sell 18.6m Knightsbridge Tankers shares
First gas-powered drillship being designed DSME and ABS collaboration highlights growing interest in using gas fuel in larger tonnage
The changing power of Emsa European Maritime Safety Agency will help states enforce SOx and and CO2 rules, but is no policeman
Angola LNG to subcharter its seven ships Vessels to be offered in short-term market until export plant overhaul ends in 2015
DFDS interested in U.N. RoRo DFDS, the Copenhagen-based ferry and logistics company, says it is involved in the ongoing process by KKR, the US based private equity fund, to sell U.N. RoRo. The Turkish company that operates 12 freight ferries in the Eastern Mediterranean. "With reference to media reports concerning an ongoing
IACS promises better approach to ferry safety The International Association of Classification Societies intends to focus on the causes of passenger ferry accidents this year. Speaking at a press conference in London today, IACS' new chairman Philippe Donche-Gay said that more needed to be done to track passenger ship modifications and related
JMU selected for Reuben kamsarmax order Japan Marine United (JMU) has been selected for an order of kamsarmax bulkers from UK based Reuben Brothers. The exact number of 82,000dwt vessels has not been disclosed but sources indicate it will be up to four with delivery in 1H 2016. This latest order is part of the owner's fleet expansion
Höegh LNG Partners files for $150M IPO Oslo-listed Höegh LNG Holdings is firming up plans to tap the US public equity markets, filing this morning (3 July) for a proposed New York initial public offering (IPO) of its spin-off limited partnership Höegh LNG Partners. Initial plans call for gross proceeds of up to $150M. Today's prospectus
VSMC wins €110M cable contract Dredging and offshore contractor Boskalis and its cable-laying JV partner Volker Wessels have announced that each have a €55M ($75M) share of the contract awarded by Statoil and Statkraft for cabling works for the Dudgeon Offshore wind farm project. The development is located 32km off the UK's
Bulker operator guilty in 'magic pipe' case Marine Managers have pleaded guilty in the US to a two-count charge in a so-called 'magic pipe' oil pollution case involving one of its bulkers. The Piraeus, Greece-based vessel operator faces a maximum $500,000 fine for each of the counts that were announced on 27 June. In addition, Matthaios
Seanergy reveals Capesize delay Plans to revitalise operations at Greek drybulk operator Seanergy Maritime Holdings appear to have been delayed, following an announcement that the planned purchase of four Capesize ships did not close on 30 June as originally expected. NASDAQ-listed Seanergy's 1Q14 results announced today (July 3)
Fredriksen companies seek to cash in Knightsbridge stock John Fredriksen companies Frontline 2012 and Hemen Holding are aiming to monetise their shareholding in fellow Fredriksen-affiliated company Knightsbridge Tankers, through a public sale that could provide gross proceeds of up to $267M. The proposed sale that is documented in a US securities
Eagle Bulk lenders score another point Holders of Eagle Bulk Shipping's debt can now own up to 20% of the troubled company's shares immediately, after a three-step mechanism set up two years ago was scrapped. Sophocles Zoullas-led Eagle Bulk yesterday (2 July) signed an amendment with a representative chunk of the current owners of
Van Oord receives crew transfer vessel Van Oord has received a new FCS 2008 crew transfer vessel from Offshore Wind Services (OWS) to be used on its Luchterduinen offshore wind farm project. "A Dutch company has ordered a vessel that's being built at a Dutch yard, to work on a Dutch offshore wind farm for another Dutch company," Damen
CSSC-SSE loses $6.2M lawsuit Shanghai-listed CSSC Steel Structure Engineering (CSSC-SSE) has lost a $6.2M lawsuit involving disputes over steel supplies. The suit was filed in 2011. The company is actively preparing to appeal the ruling currently, a stock filing of the company said today. In December 2013, the company was sued
Epic Gas charters two ships from Siva Group Singapore-based Epic Gas has agreed to charter-in two 7,200m³ gas carriers from Siva Group. Epic, led by CEO Lars Vang Christensen, said the contracts come with purchase options and fixed monthly charter rates. The LPG gas carriers, both 2010-built, would be renamed Epic Bali and Epic Borneo upon
Average container rate predicted to fall in 2014 Shipping consultancy Drewry says that the container shipping sector continues to face major challenges, with the average freight rate obtained due to fall this year, compared with those for 2013, a view shared by a senior shipping analyst in Denmark. "Drewry forecasts that once again, average
Minister slams Spain's vessel incursions Gibraltar's deputy chief minister has slammed Spain's incursions into the territory's waters, describing Spain's actions as "the bullying of a small country". Dr Joseph Garcia referred to "hundreds of incursions by the Spanish paramilitary Guardia Civil, the Spanish Navy and other official organs of
No significant export growth for Thailand Thailand will not see sharply increased export growth, a business group has told IHS Maritime. "We forecast that this year, the export growth will be under 3%," an official with the Thai National Shippers' Council told IHS Maritime yesterday. The official said low export growth reflected declines in
HMM gets $494M from LNG shipping business sale Hyundai Merchant Marine said today it will get KRW500Bn ($494M) from completing the sale of its LNG shipping business. It was announced early this year that IMM Consortium, a private equity fund, will buy HMM's LNG business as part of the latter's plan to improve liquidity. Of the KRW500Bn, KRW100Bn
Korea Coast Guard underestimated Sewol incident Even as more than 300 people were drowning when the Sewol ferry capsized, the Korea Coast Guard informed the country's president that 370 passengers and crew had been rescued. This came to light when phone conversation transcripts between the coast guard and President Park Geun-hye were revealed
New bunker start-up begins operating Bunker supplier Unicore Fuel, a subsidiary of Denmark's Bunker Holding Group, has commenced its operations in Singapore, the world's largest bunkering port. Unicore Fuel, incorporated in Singapore in March 2014, officially commenced business on 1 July said Bunker Holding in a statement. Its parent
Thailand to benefit from infrastructure Rail and port initiatives being planned by Thailand's military rulers will benefit the country even though exports are at risk from a slowdown in China and monetary squeezing, economic experts told IHS Maritime. Plans to double track the railways "have really serious spin-offs" in terms of boosting
Teamsters reportedly planning July 7 pickets at LA-LB Organizers backed by the Teamsters Union reportedly plan on July 7 to picket terminals in Los Angeles-Long Beach and target the trucks of three drayage companies they have been trying to unionize. This action could have repercussions for cargo-handling at the nation's largest port complex because the International Longshore and Warehouse...
Roadrunner rounds out executive team Roadrunner Transportation Systems has appointed a president for each of its three business segments, completing the reshuffling of its executive team. Grant Crawford joins Roadrunner as president of the company's less-than-truckload segment, Patrick McKay has been promoted to president of the truckload logistics division, and Kevin Charlebois has been promoted to president...
Big shift expected in US cotton export ports Cotton harvesting in Texas. Source: USDA, ARS. Photo by David Nance.The widening of the Panama Canal could eventually lead to a 90 percent increase in cotton exports for U.S. South Atlantic and Gulf Coast ports, and a 66 percent reduction in cotton exports through West Coast ports, according to an...
Container lines' schedule reliability 'returning to a normal level' Global liner schedule reliability was down year-over-year in May but up month-to-month.The gap between global liner schedule reliability this year and last year has narrowed, although monthly performance in May was still down year-over-year, according to a new report from SeaIntel Maritime Analysis. Morten Berg Thomsen, a shipping analyst at SeaIntel,...
FTZs grow increasingly popular in the US Foreign trade zones in the U.S. are enjoying a boom, partly because shippers are increasingly using the zones for exports, and even for distribution of retail products without any domestic components. While manufacturing firms, especially automakers, have been the main users of FTZs, retailers are using the tool in greater numbers...
Railroads, trucking companies brace for hurricane U.S. surface transportation providers, ranging from railroads to trucking companies, are preparing for the approaching Hurricane Arthur, set to hit the East Coast this holiday weekend, with some carriers warning shippers of potential delays. CSX Transportation and Norfolk Southern Railway don't expect Arthur to have much of an impact on their...
Highest June total for North American Class 8 truck orders since 2005 June Class 8 truck orders in North America were 41 percent higher than in June 2013. Full-size chart June Class 8 truck orders in North America were 41 percent higher than in June 2013, alleviating what analysts believed would be a slowdown for the summer months. FTR reported Class 8 truck orders totaled...
Israeli court modifies state's veto power over Zim An Israeli court has modified key terms of the state's veto-wielding "golden share" in Zim Integrated Shipping Services that threatened to block the carrier's $3.4 billion restructuring. The court said the government's veto power would only apply to the sale or transfer of shares amounting to over 35 percent of Zim's...
Surge in imports adding to US West Coast port congestion Container volumes moving through West Coast ports in May were 4 percent higher than during the same month last year, lending support to the theory that higher-than usual cargo volumes are contributing to port congestion. In fact, according to statistics published on the website of the Pacific Maritime Association, total imports...
APMT's investment puts Algeciras at top of Med port ranks APM Terminals says its $78 million investment enabling its Algeciras terminal to handle regular calls by 18,000-TEU ships helped the Spanish port overtake domestic rival Valencia as the biggest container port in the Mediterranean. Southern Spain's Port of Algeciras saw traffic increase 6.6 percent in 2013 year-over-year to 4.33 million 20-foot-equivalent...
DFDS confirms interest in sale of Turkish carrier UN Ro-Ro DFDS, northern Europe's largest integrated shipping and logistics company, confirmed it is one of the companies participating in the sale of UN Ro-Ro, the Turkish roll-on, roll-off carrier. But the Danish group said it has not yet put in a firm bid for the Istanbul-based carrier, which is being sold by...
Bulk unit spinoff allows Hanjin to pare down debt Hanjin Shipping will rake in almost $300 million from the spin-off of its dry bulk business, allowing the loss-making Korean carrier to remove a significant portion of debt as it continues to restructure the company. The dry bulk business will move 36 vessels, including seven liquefied natural gas vessels, into a...
Indian Customs institutes new truck rules at Chennai Port Indian Customs has put in place at Chennai Port new regulations that authorities believe will help tackle truck congestion in the harbor and on roadways connecting the cargo terminals. The move came after the Chennai High Court intervened in response to a petition filed by local shippers' groups over port delays...
Hapag-Lloyd's Asia shopping plan gets analysts talking A Hapag-Lloyd container in Singapore.The ink was hardly dry on Hapag-Lloyd's merger deal with Chilean carrier CSAV when departing chief executive Michael Behrendt raised the prospect of acquiring an Asian container line. Behrendt said the carrier would continue to search for scale once the CSAV deal was completed, making the comment...
Japanese container trade outlook worsens A major Tokyo-based research firm has painted a grim picture of Japanese container trade in the current fiscal year that started on April 1, citing weaker exports and imports than previously thought. Nittsu Research Institute and Consulting Inc. (NRIC) predicted in a new report that Japan's containerized cargo trade will edge...
Warrant holders can strike Eagle Bulk Shipping has struck a deal with lenders that will open the door for them to exercise warrants for a further equity stake in the New York owner.
No Knightsbridge sale John Fredriksen-controlled interests are not selling shares in Knightsbridge Tankers despite a regulatory filing earlier this week that may have confused some investors.
Canada probes death Canada's government has sent investigators to Montreal after a crew member died onboard a China Shipping bulker.
Vallianz in COOEC tie-up Vallianz Holdings has struck a deal to supply offshore support vessels to Offshore Oil Engineering (COOEC), China's largest offshore engineering contractor.
Deep Sea set fair John Fredriksen's Deep Sea Supply is set for a spike in both dividend and profit after purchasing a fleet of 10 vessels from its largest shareholder.
Genco set to exit Chapter 11 Genco Shipping & Trading is set to complete a whistle-stop trip though Chapter 11 and emerge from bankruptcy protection next week.
Seanergy waits for ships The transfer of four Restis-owned capesizes to US-listed spin-off Seanergy has been delayed.
Hoegh MLP float launched Hoegh LNG Partners has filed IPO papers that will see the company listed on the New York Stock Exchange.
GE exits LPG India's Great Eastern Shipping has quit the LPG sector after selling its last gas carrier.
VSMC pens $150m deal A Royal Boskalis Westminster and VolkerWessels joint venture has landed a EUR 110m ($150m) cable-laying contract for a windfarm off the UK.
Gulf Nav opens up Dubai tanker owner Gulf Navigation has allowed overseas investors to control up to 49% of the company.
Double joy for Polarcus Polarcus has secured its second short term 3D marine seismic contract in a week.
Fincantieri stable Italian shipbuilder Fincantieri's shares were unchanged on its first morning of trading following its Milan IPO.
Zim wins court battle Israeli container line Zim has won an important victory in court to decide its own future by forging shipping alliances and carrying out an IPO.
Stolt fears recovery flop A recovery in the parcel tanker market could have derailed Stolt-Nielsen warned as it reported a weaker than expected second quarter profit.
DFDS: no bid yet Danish shipowner DFDS has confirmed it is participating in the sale of Turkey's UN Ro-Ro, but it has not yet made a firm bid.
Deutsche down on boxes Germany's Deutsche Bank is expecting "deep losses" for Asian container lines as rates struggle.
Epic secures LPG pair Epic Gas has concluded long-term charter agreements for two modern 7,200-cbm LPG vessels from the Siva Group.
Billion-dollar boost Antwerp Port Authority (APA) has revealed ExxonMobil is to build a new $1bn refinery.
NYK and Stolt order duo NYK Stolt Shipholdings (NSSH), a joint venture between NYK and Stolt Tankers, has order two small parcel tankers in Japan.
OWS orders at Damen Dutch owner Offshore Wind Services (OWS) has ordered its second newbuilding this year at domestic yard group Damen.
Hilli conversion confirmed Golar LNG and Keppel have formally agreed to carry out the conversion of an LNG carrier into a floating liquefaction vessel (FLNG).
Protestors target Concordia Greenpeace is sending a ship to the site of the Costa Concordia wreck in a protest at plans to move it to Genoa for scrapping.
LNG to fuel drillships DSME and class society ABS have teamed up to jointly develop a first LNG fueled drillship concept.
PNCT adds new cranes The cranes, which are currently under assembly at the Newark, N.J., terminal, are only the most visible sign of a $500 million project to improve PNCT, with work extending throughout the facility.
Gerald Desmond Bridge may take 12-18 months longer to complete At a meeting of the Long Beach Board of Harbor Commissioners on June 23, Al Moro, acting executive director, said the longer construction period may also raise the cost of the project, which the port had previously estimated at $1.2 billion.
ExxonMobil to invest $1B in Antwerp port
NYK Stolt Shipholdings orders 2 parcel tankers
COAC conducts trade efficiency survey Information gathered will be used to address potential trade bottlenecks, assess the economic impact of specific trade initiatives, and assist in creating metrics that explain the key benefits of partnerships with CBP and other agencies.
Study: Importers cite ports disruption as top concern
New Canadian maritime security rules in effect "These changes will ensure robust marine regulations and continued improvements to the security of the transportation system for Canadians," Minister of Transport Lisa Raitt said in a statement.
Softer trend in prices across Europe Falls remained within the single digit range.
IFO prices continue falling in Fujairah Prices have been falling for over a week.
LNG bunkering incident 'confirms urgent need' for guidelines Society for Gas as a Marine Fuel has held its second technical committee meeting.
Dubai: Ships to 'strictly comply' with emission regulations Some requirements going beyond MARPOL Annex VI, though UAE is not a signatory and has supplied some non-compliant fuels.
Fuel oil stocks climbing in Singapore Fuel oil exports to South Korea and China climb week-on-week.
Sea-trials of emulsion fuel 'satisfy' Maersk Successful seaborne service tests open the way for 'commercial phase'.
Bunker prices easing across Asia Weak demand seen in Busan, Tokyo.
Shell to buy capacity from new LNG terminal Move brings LNG bunkering at Rotterdam closer to reality.
Bunker sales 'weak' in Chinese ports Demand for fuel oil imports has been thin.
Move to boost LNG bunker distribution in Europe Existing Rotterdam-based LNG terminal to be expanded.
Qatari shipyard seals European LNG retrofit deal Contract comes under a large scale LNG bunkering project.
LNG carrier owner adds tri-fuel electric duo to fleet Propulsion system claims higher environmental benefits compared to 'alternative solutions'.
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