VLCCs struggle in the Middle East Gulf despite slight growth in earnings Owners cling to more positive longer-term projections
Posidonia 2014: Japanese shipyards ponder offshore return EXCLUSIVE INTERVIEW: Tokyo diverts financial support from eco-ships to drilling rigs
Global Shippers Forum welcomes Brussels' promise to monitor P3 GSF also asks the three carriers for information to assist with monitoring
Posidonia 2014: Japan introduces new export-financing mechanism in the Greek market A two-step loan will be available for private Greek shipowners, says government official
Odfjell looks to Oslo bond market Tanker and oil terminal operator seeks to bolster weakened finances
Continental Resources applies for shale oil export permit Experts disagree about whether the US will repeal its ban to create a new crude trade
Boskalis and Mammoet win the contract to raise Baltic Ace Salvage work will last several weeks and could cost more than $90m
Two more Chinese lenders freeze Nanjing Tanker assets Fresh blow as delisted carrier loses control over assets worth $141m
Why a sleepy English village lies at the heart of a global gas debate Should the UK ship in more imported LNG or develop a shale-gas industry at home?
SocGen appoints Williams Asia ship finance head LNG expert moves to Hong Kong to lead regional project and structured finance
Posidonia 2014: Capital launches LNG-fuelled boxship project with Lloyd's Register and Daewoo Joint 14,000 teu vessel is 'cornerstone' of Marinakis company's sustainability drive
Posidonia 2014: TEN confirms top banker as chairman Arapoglou appointed as owner boosts its crude oil wing
ESPO warns against box weighing disruption European ports body ESPO has welcomed IMO plans to tighten container weight checks but has warned against allowing weighing operations to disrupt container handling operations in ports. ESPO said that it supported the recent decision of the IMO Maritime Safety Committee to amend existing SOLAS
P3 partners network given approval The European Commission has joined the US Federal Maritime Commission in giving its approval to the P3 Network vessel sharing agreement planned by container shipping's "big three" - Maersk Line, MSC, and CMA CGM. Maersk Line said today that the commission had informed the three companies that it
AUV sets sail at Port of Lisbon An autonomous underwater vehicle (AUV) was presented to the press at Port of Lisbon on 3 June. Developed by BMT in partnership with Bristol Robotics and Laboratory, and SonarSim, the AUV is one of three elements of the Security Upgrade for Ports (SUPPORT) project, part-funded by the European
Vard clinches new contract for Rem Offshore Singapore-listed shipbuilder Vard Holdings Limited (VARD) has secured a new contract for the design and construction of one Offshore Construction and Anchor Handling Vessel for Rem Offshore. The contract is valued at about NOK800M ($133.3M) and will be based on VARD 2 06 design. The delivery is
Fukuoka wins Chemical Tanker quartet Japanese yard Fukuoka Shipbuilding has won orders for four chemical tankers with three 33,000dwt vessels from Shanghai based Sinochem International and one 19,900dwt vessel from Panama registered Tarinus Line. All four will be built at its Nagasaki yard. The three 33,000dwt vessels will have an
SPP secures Ceres MR Tanker order South Korean shipyard SPP Shipbuilding has secured an order for seven medium range product tankers from Monaco based shipowner Ceres Shipping. The seven 50,300dwt vessels will have an overall length of 183m, beam 32.2m, depth 19.1m, and are scheduled for delivery between March 2015 and June 2016
Cavotec installs AMP system on ZeroCat ZeroCat, the world's first battery-powered ferry, will be equipped with Cavotec's combined automated mooring and shore power system and will enter into service on January 1 next year. The 80m-long vessel is designed for about 120 cars and 360 passengers, and will make 17 crossings of the Sognefjord
LUSCHI adds dredger to fleet Brazilian dredging company LUSCHI will start dredging operations in August in Brazil and South America using "LUSCHI X", that has just been added to its fleet. The Trailing Suction Hopper Dredger was called "Recreio do Bandeirantes" and is 1,330m³ with a length of 77.5m, and a width of 13m and is
Vessels collide off Quanzhou Bay Panama-flagged cargo carrier Hanjin Ningbo collided with a bulk carrier Fu Xin 98 in waters off Quanzhou, Fujian on 30 May. The stern of Hanjin Ningbo hit the front port side of Fu Xin 98, according to Quanzhou Maritime Search and Rescue Centre. The accident caused water to flow into the side tank
Shipping community bids farewell to Varnavides As Lambros Varnavides, Royal bank of Scotland's (RBS) managing director and global head of shipping, prepares to retire, many in the Greek shipping community turned out to bid him farewell as they celebrated the start of Posidonia 2014. "It is great to see so many friends," Varnavides told IHS
Dagmar Navigation targets SMEs The newly formed Dagmar Navigation Limited was ready to absorb the demand for small and medium enterprise (SME) lenders at Posidonia 2014, particularly in the Greek and Dutch markets. Dagmar is made up of shipping veterans Dagfinn Lunde and Marina Tzoutzouraki; Tzoutzouraki, co-founder of Dagmar
Sewol owner denied political asylum An foreign embassy in South Korea has denied Yoo Byung Eun - the Sewol's owner and chairman of Chonghaejin Marine - political asylum, Incheon District Prosecutors' Office announced yesterday. The office said that last week an anonymous person contacted an embassy in South Korea to check whether
China coal imports from Australia improve China's coal imports from Australia rose 13% year on year to 30M tonnes in the first four months of 2014, according to statistics from Chinese customs. The country's coal imports from Indonesia fell 1% y/y to 45M tonnes during the period; however, Indonesia was still China's top coal importer.
Indonesian coal exports may dip in 2015 Indonesia may export 20-25M tonnes less coal in 2015 as the government plans to reserve 8% more coal for domestic consumption. Coal production is planned to be capped at 420M tonnes, on par with 2014. The 2015 domestic market obligation (DMO) has yet to be set, but Indonesia's Minerals and Coal
Jurong Port gets new drop-in centre A new international drop-in centre for seafarers was officially opened in Jurong Port yesterday. The International Drop-in Centre for Seafarers, an initiative of the Mission to Seafarers (MtS), has a wide range of facilities to cater to around 400 visiting seafarers who call at Jurong Port every
New passenger routes add unwanted air cargo capacity Airlines in Asia are watching freight volumes creep up and daring to think about a peak season, but the steady addition of new passenger routes out of the region and increasing flight frequencies to existing destinations are undermining the improving demand for cargo. Andrew Herdman, director-general of the Association of Asia...
Truck capacity to rise 1 to 1.5 percent in 2014: ACT Research Available truck capacity will increase this year for the first time since 2007, though not by much, ACT Research predicts, as a stronger economy and higher freight rates help trucking companies replace more older trucks and expand their fleets - at the margins. "Our forecast for this year has active truck capacity...
Maersk to hike Mediterranean-North America rates Maersk Line said it intends to raise rates on shipments between the Mediterranean and North America, beginning July 1. From the Mediterranean, excluding Syria, to the U.S. and Canada, the increase will be $150 per 20-foot container and $200 per 40-foot and 45-foot container. From Syria, the hike will be $115...
Southeast Asian growth prompts Yusen Logistics' expansion Yusen Logistics' new Jababeka warehouse in Jakarta, Indonesia.Major Japanese freight forwarder Yusen Logistics has opened a new warehouse in Jababeka in Jakarta, Indonesia, to capitalize on growth in Southeast Asia. The opening of this new 54,790-square foot facility, which specializes mainly in automotive-related goods and consumer goods, brings Yusen Logistics' warehousing capacity...
Maersk defends APMT relationship, denies it receives discounts Maersk Line is denying claims that its profits are inflated because it gets a discount from its Maersk Group sister company APM Terminals, a major global terminal operator. In this week's Alphaliner newsletter, the data and research firm examined Maersk Line's first quarter earnings, which were markedly higher than other global...
CKYH, Evergreen move toward potential VSA on US trades WASHINGTON - The CKYH partners and Evergreen Line are making moves to allow them to seek a vessel-sharing alliance in the trans-Pacific and trans-Atlantic trade lanes, but without putting all their cards on the table, yet. By asking the U.S. Federal Maritime Commission to allow them to discuss operating in the...
Aberdeen's Insights into the Rising Importance of Foreign Trade Zones With 85% of companies engaged in overseas operations, changes in labor rates and fluctuating fuel prices can have a major impact on profits and the global economy. That's why it's no surprise that over 76% of companies are reassessing their inbound supply-demand network to consider Foreign Trade Zones (FTZs). This brand...
US intermodal rates a mixed bag in new index report Spot intermodal rates in the Top 36 lanes. Full-size chart Intermodal rates in the U.S. rose this week, following several weeks of spot rate decreases across the nation. An index of 36 major U.S. intermodal lanes rose less than 1 percent to $2,141 per 53-foot container this week, according to data on all-inclusive...
Stronger second quarter shipping demand lifts Landstar's outlook Better than expected freight demand in April and May pushed revenue and profit higher at Landstar System, which is operating "on all cylinders," said Chairman and CEO Henry Gerkens. Total annual revenue of $3 billion is "clearly within reach" for $2.7 billion Landstar, the fifth-largest truckload operator, Gerkens said in a...
Greek shipowners retreat from container ships segment Greek shipowners are faced with a decision: increase investments in more efficient container ships to stay competitive, or return to their roots in bulk shipping, where the market is expected to improve. According to a recent report by global shipping association BIMCO, Greek shipowners have chosen the latter option, mostly...
FMC Clarifies West Coast Congestion Surcharge Rules WASHINGTON - The U.S. Federal Maritime Commission is clarifying rules pertaining to congestion surcharges planned by trans-Pacific carriers in the event of U.S. West Coast work stoppages. The congestion surcharges must be published in tariffs for at least 30 days before the fees can be levied against shippers, the FMC said...
Drewry: HK-LA Benchmark Rate Hits Lowest Level This Year Drewry's Hong Kong-Los Angeles container freight rate benchmark this week dropped to its lowest level since December 2013. Full-size chart Trans-Pacific spot rates continued a downward spiral this week, with the Drewry benchmark rate for shipping from Hong Kong to Los Angeles falling an additional $50. The benchmark rate landed at $1,750 per...
Productivity Key to Portland's Prospects Either Portland has a bright future as a niche container port in the Pacific Northwest, or it will watch much of its business migrate to other ports in the region, depending upon how the International Longshore and Warehouse Union addresses the port's flagging productivity. Bill Wyatt, executive director, believes Portland will...
Truck Inspections Target Hazmat Safety Unexpected shipment delays this week? Don't be surprised if they're attributed to a three-day, international truck and bus safety inspection blitz that targets as many as 70,000 commercial vehicles and will pull some trucks and drivers off the road. The Commercial Vehicle Safety Alliance and its government partners today launched Roadcheck...
NJ Governor Nominates Waterfront Commission Member New Jersey Gov. Chris Christie has nominated Michael Murphy, a lobbyist and former county prosecutor, to the Waterfront Commisson of New York Harbor. Murphy will succeed Jan Gilhooly as New Jersey commissioner on the bistate agency, which was created in 1953 to root out crime on the New York-New Jersey docks....
Warehouse Leases Highlight China Supply Shortage There is no letup in the demand for modern logistics facilities in China, but local and foreign companies are competing for a limited number of available warehouses outside the developed logistics centers. Global Logistic Properties (GLP) has signed three new lease agreements totaling 474,000 square feet with three companies in China....
LPG merger in doubt A merger between Avance Gas and Dorian LPG is unlikely to happen in the foreseeable future, a leading investment bank told clients Wednesday.
Officers union holds fire Seaspan Marine has struck a deal with a tug officers' union to hold off their threatened strike in the port of Vancouver.
Cape rally underway? Rates for capesize bulkers trading in the spot market are starting to show moderate gains and many believe levels will continue to rise in the weeks ahead.
Orders on the rise Newbuilding prices will continue to increase in the weeks ahead if the current pace of ordering continues, a leading brokerage told clients Wednesday.
US yard lands order Moran Iron Works of the US has secured a contract to construct a pair of ocean-going deck barges.
ORIG seals deal George Economou's Ocean Rig has secured employment for one of its semi-submersible drilling rigs.
DFDS banks $91m An influx of new money into shipping has continued on Wednesday after Denmark's DFDS announced it had sold a five-year bond worth DKK 500m ($91.22m).
Big boxship's a gas Capital Ship Management, Daewoo Shipbuilding and Marine Engineering (DSME) and Lloyd's Register are combining in a project to design a future ultra large container ship fuelled by LNG.
Siem raises $117m Norway's Siem Offshore has sold NOK 700m ($117m) of new bonds in a hot Oslo market.
Seven for TNG Mexican shipyard Talleres Navales del Golfo (TNG) is building seven tugs for national company Pemex.
Maersk refinances AP Moller-Maersk has completed a $5.1bn syndicated revolving credit facility with a group of 21 banks that will cut its financing costs.
Oceanografia arrest Mexican authorities have formally arrested the chief executive officer of Oceanografia, the offshore oil support services firm seized by the government on charges related to a fraud involving Citigroup's local unit Banamex.
Nordcap's 15% extra Oslo IPO hopeful Nordcap Offshore is offering an extra 15% of its share sale to underwriters.
GOS returns to profit Indian offshore shipowner springs back into black as Q4 revenue soars.
Odfjell taps bonds Norwegian tanker owner Odfjell has raised NOK 300m ($50m) from tapping into its 2012 bond issue.
Wintermar eyes buys Indonesia's Wintermar Offshore Marine is raising cash through a share sale to expand its fleet.
Rem adds Vard newbuild Norway's Rem Offshore is spending NOK 800m ($133m) on a new offshore construction vessel (OCV).
Big ships and old rope As ships have got larger, the effect of their wake on vessels they pass in port has increased and is capable of overcoming mooring systems and affecting loading operations.
CFO job vacant Swedish tanker owner Concordia Maritime is looking for a new chief financial officer (CFO).
Another for Navig8 Expanding Navig8 has added another chemical tanker to its Taras8 pool.
Death riddle solved German probe reveals three crew were suffocated in hold of cargoship in UK port.
Dryad in piracy alert Shipowners operating small tankers in waters around Singapore have been warned to keep their operational details secret.
NSC suffering Russian cargoship company posts 1700% drop in annual net profit.
Rix picks Damen Rix Sea Shuttle of the UK has ordered a fast crew boat from Damen in the Netherlands.
Brussels approves P3 The P3 shipping alliance will not face anti-trust proceedings by the European Commission, it was confirmed Tuesday.
Arapoglou gets TEN post Takis Arapoglou has been confirmed as the new chairman of Tsakos Energy Navigation (TEN).
Relax, Mr Rodgers Euronav chief executive Paddy Rodgers made waves Tuesday after accusing competitors of abusing the US bankruptcy system.
Devine retiring as CEO of GCT USA John Atkins will to succeed Devine as president of GCT USA, effective July 1. Atkins is currently the chief operating officer for GCT USA, and he has held successively senior positions since joining the company in 2002.
Forwarding industry lays out expectations for ACAS rulemaking Officials should resolve lingering issues resulting from an ongoing demonstration program for collecting advance shipment data before publishing a rulemaking requiring the electronic security filing, four trade groups said.
Chalos O'Connor attorneys join other firms
'Made in Rural America' forums begin The forums are part of the Obama administration's Made in Rural America Export and Investment Initiative that was created earlier this year to help rural businesses access new opportunities and foreign markets.
Kane is Able to add CNG trucks
IAG Cargo boosts Latin American presence
Mass. man pleads guilty of importing counterfeit circuits
Chemicals distributor to use Amber Road for restricted-party screening The global trade management software provider Amber Road said Tuesday that the specialty chemicals distributor Azelis will use Amber Road to automate restricted-party screening.
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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