Asia-Europe box volumes rise more than 7% in July On-year growth defies sluggish economies, providing a welcome surprise for carriers
Marinakis sworn in as Piraeus councillor Shipowner and Olympiacos owner has vowed to fight Piraeus Port Authority sell-off
Dynagas Partners launches $250m bond offering Proceeds will fund next LNG drop-down, says owner
Tradition meets revolution at BW LPG Gleeson discusses ethane carriers, fiscal prudence and transatlantic image differences
Can Rongsheng pull it off? Shipbuilder facing mounting debts and losing customers is to buy into central Asia oilfield
Beijing releases 'white list' of Chinese yards to tackle overcapacity Only shipbuilders that meet official standards can receive policy support
IMO calls for ebola-risk seafarers to be kept off ships United Nations maritime agency calls for exit checks at ports
China unveils blueprint for national shipping industry development State Council raises importance of maritime transport on a national level for first time
City Council approves Long Beach budget Two-thirds of spend allocated to modernising the port
StealthGas unveils fresh deals in pursuit of period chartering strategy Owner announces five new charters as it confirms extra two LPG newbuilds
Product tanker earnings rise $5,000 in a day Demand grows for European gasoline shipped to the US
UAE shipping services firm placed on Iran sanctions list Goldentex FZE named in latest Washington move
Stevedore shortage delaying Thai rice shipments Dock workers from Myanmar and Cambodia have fled the country in fear of tighter restrictions from military government
Nigeria freight rates hiked over Ebola risk European shipowners have increased freight rates on vessels entering Nigeria in response to the Ebola outbreak in west Africa. Ify Akerele, director-general of the Nigerian Chamber of Shipping (NCS) in Lagos, confirmed the development, saying the situation had become a real challenge. "It is a tight
Ports of Stockholm sees big box rises Ports of Stockholm saw a 37% rise in box numbers in 2013 totalling 48,748teu. This trend has continued as in August this year the port reported an 8% rise in container numbers compared to the same period last year. "We are very pleased by the strong support shown by our customers and the fact that
Yard puts unfinanced ferry order on hold Shipbuilder STX France is reported to have 'suspended' a €270M order from Brittany Ferries for an LNG-powered car ferry that is as yet unfinanced. The shipbuilder's decision was revealed today by STX France union leaders who said that they had been given the information at a meeting with
European court confirms €200M SNCM fine The European Union Court of Justice has rejected appeals from the French government and French ferry company SNCM against a lower court decision order for the company to repay public funds totalling more than €200M it received between 2002 and 2006. These funds include €158M in the form
Dar lands Suez expansion contract Saudi Arabia-based Dar Al-Handasah Consultants (Dar) has been awarded the prime consultancy contract for Egypt's $4Bn Suez Canal Regional Development Project. This includes a new 35km parallel canal and is scheduled for completion by 2016. Stressing the importance of the contract, the announcement
Hakata wins limestone carrier order Japan's Hakata Shipbuilding has won an order for a limestone carrier from domestic shipowner Nissen Kaiun. The 6,300dwt vessel will have an overall length of 111m, beam of 17.4m, depth of 8.35m and is scheduled for delivery in July 2015. It will be Japanese flagged and classed by Nippon Kaiji Kyokai
Kongsberg wins turnkey offshore simulator contract Kongsberg Maritime announced today that international offshore drilling contractor Ocean Rig UDW has awarded it a contract for a turnkey offshore and navigation simulator for a new ocean rig training centre. Ocean Rig owns and operates two ultra-deepwater semi-submersible drilling rigs and nine
HHI secures Petronas LNG option Hyundai Heavy Industries (HHI) has secured an option for an LNG carrier from the Malaysian state oil company PETRONAS. The 150,200m³ Moss-type LNG carrier is the first of four options from an original order of four plus four placed in October 2013. Delivery of the four ordered last year is scheduled
SWS secures CSSC Jack-up order Shanghai Waigaoqiao Shipbuilding (SWS) has secured an order for a jack-up from state owned China State Shipbuilding Corp (CSSC) subsidiary CSSC Leasing. The F&G JU-2000E designed jack-up is scheduled for delivery in 1Q17. In June 2014 SWS delivered Prospector 5, which is the same design as this
Migrants try to storm cross-Channel ferry Several hundred migrants have attempted to storm a cross-Channel ferry at the port of Calais bound for Dover. Eye witnesses reported that immigrants invaded the port precinct in two separate waves shortly after 16:00 GMT yesterday. A first group of some 85 migrants tried to board a vessel but were
Seafarer missing in Humber River The UK coastguard is today searching for a seafarer who went missing from a cargo ship in the River Humber. "At 8pm Humber coastguard was alerted by Humber VTS (Vessel Traffic Services) that a crew member had gone overboard from the Netherlands registered cargo vessel Freya close to Grimsby on the
Gioia Tauro port suffers productivity setback Italy's leading container terminal of Gioia Tauro suffered a further setback in its attempts to improve throughput when port workers voted earlier this week to reject a productivity deal. The proposed agreement between stevedore unions and the terminal's owner Medcenter would have introduced 10
China allows foreign investment in free-trade zone China is to allow overseas investment in its pilot free trade zone (FTZ) in Shanghai. New government guidelines permit foreign shipping businesses to set up in the zone, which was officially launched last September. Favourable taxation and fiscal policies within the FTZ will play an important role
Chinese shipbreaking sector suffers loss Chinese recycling yards recorded total revenue of CNY2.2Bn ($0.4Bn) for 1H14 and suffered a loss of more than CNY200M, according to a report by China National Shipbreaking Association (CNSA) last week. 136 vessels (1.12M lt) were scrapped in 1H14 - 0.56M lt was imported, down by 44.4% y/y, while the
Damen manufacture largest nozzles ever Damen Marine Components today announced a contract for eight 5,050mm Optima propeller nozzles - the largest DMC will have manufactured to date with its spinning machine technique. The order came from Caterpillar Propulsion of Gothenburg, which will supply complete main propulsion units for four
PDZ posts profits Malaysia-listed shipping liner, PDZ, rebounded to profit of MYR2.3M ($732,000) for its fourth quarter ended 30 June 2014 from a loss of MYR9.87M in the corresponding period last year. Revenue dropped 8% year on year to MYR43.82M on 30 June from MYR47.81M. The drop mirrored the lower business volume
RS Platou cautions on upside for dry bulk rates Norwegian shipbroker RS Platou has cautioned ship owners not to get too excited over an expectation that dry bulk freight rates will recover towards year-end. For much of this year, dry bulk freight rates have been depressed due to lower coal shipments to China and Europe, and Indonesia's ban on the
Extended grain season to support Panamaxes Panamax bulkers, currently suffering from oversupply, could get some support from an extended South American grain season. IHS Global Insight has increased the 2013/14 and 2014/15 world wheat production estimates by about 2M tonnes and 1M tonnes, respectively, due to higher production estimates for
Manila ports to clear overstaying cargo The Philippine Ports Authority (PPA) has given an 8 September deadline for importers and brokers to withdraw their overstaying customs-cleared cargo in Manila ports. After the deadline, any unclaimed cargo will be immediately transferred to the Subic and Batangas ports, or any other location
China vessel export recovery continues China's vessel exports continued to cut its year-on-year (y/y) falls in the first seven months in 2014 on the newbuilding market pickup. In the first seven months, the exports decreased 10.7% y/y to $15.2Bn, according to customs statistics. In July, the vessel exports rose by $6M from June to
Barakah Offshore enters agreement with Lundin Malaysia Malaysia-listed offshore services provider, Barakah Offshore, has entered into an agreement with Lundin Malaysia for the provision of hook-up, commissioning and topside major maintenance services for offshore oil and gas fields. The contract was signed by Barakah Offshore's wholly owned subsidiary
Trans-Pacific pact jeopardizes China's position as top US apparel source A pending free trade agreement involving the U.S. and 11 other Pacific Rim countries could jeopardize mainland China's dominance in producing apparel for U.S. consumers. Vietnam is the country best poised to gain apparel market share in the U.S. if the Trans-Pacific Partnership is completed, according to a Reuters analysis. The...
New Long Beach mayor names his first port commissioner, signaling new era Tracy Egoscue, an environmental attorney and former California deputy attorney general, was named to fill a vacant seat on the Long Beach Board of Harbor Commissioners. Egoscue is Mayor Robert Garcia's first appointment of a harbor commissioner since he became Long Beach mayor in July. Garcia said Egoscue's record of environmental...
Rubin no longer interim CEO at Horizon Lines Steven L. Rubin has been named president and CEO at Horizon Lines after serving in those posts on an interim basis for the last two months. Rubin succeeded Sam Woodward after Woodward resigned at the end of June with a year left on his contract. Horizon Chairman David N. Weinstein said...
WCI spot rates strengthen in trade from Europe Full-size chartSpot rates on nearly all lanes on the World Container Index moved this week as rates continue to fluctuate. WCI's spot rate from Shanghai to Rotterdam declined 9 percent in the most current reading. The rate stands at $2,148 per 40-foot container equivalent, $212 per FEU lower than last week...
Westbound Atlantic trade in 'vroom vroom' mode With economic conditions in the U.S. continuing to improve, the outlook for U.S. imports via ocean container from northern Europe remains highly favorable. After growing only 2.5 percent in 2013, the trade is expected to expand 9.2 percent this year - almost four times the growth rate of 2013 -...
Weak charter rates send Box Ships profit plummeting Weak charter rates cut into second-quarter profit of container ship owner-charterer Box Ships, which said vessel supply continues to exceed demand in a "challenging" market. The Athens-based company reported adjusted earnings before interest, taxes, depreciation and amortization of $7.9 million, down 30.6 percent year-over-year. Net income fell 80 percent, to $675,000....
Saltchuk closes on Tropical acquisition Saltchuk Resources, owner of U.S. domestic carriers Totem Ocean Trailer Express and Sea Star Line, has completed its previously announced acquisition of Tropical Shipping, an international-flag carrier serving the Bahamas and Caribbean. AGL Resources said it would receive after-tax net proceeds and repatriated earnings totaling $220 million, subject to post-closing adjustments,...
Fresh EU sanctions on Russia threaten Baltic shipping market The once buoyant Baltic shipping market faces further declines in cargo volumes as the European Union prepares to tighten economic sanctions against Russia. The EU's 28 governments are due to decide on a new package of measures Friday in response to hardening evidence of Russian military intervention in the conflict in...
FTR Associates reports 29 percent jump in US heavy truck orders Heavy truck orders in the U.S. continued their long climb in August, rising 29 percent year-over-year as trucking operators replace aging equipment at a faster pace. Dealer incentive programs helped push net orders for Class 8 tractors to 24,947 units in August, according to preliminary data released by research firm FTR...
Ryder's UK customers test new trucks as European regulations boost costs Ryder Euro 6 trucksThe latest round of diesel emissions regulations is raising truck prices in Europe, adding as much as 15 to 20 percent to the ticket price of new straight trucks and tractors. That has many European truck fleet operators reluctant to be the first to invest in the...
World Bank wants 'task force' to fix Cambodia logistics Weak logistics have stood in the way of Cambodia's trade progress for years with its export costs at least 30 percent higher than those of Southeast Asian neighbours Thailand and Vietnam. Getting the goods from farmers to markets remains difficult, and exporters struggle to supply overseas companies, integrate into regional networks...
DCLI targets 53-foot domestic chassis U.S. marine container chassis lessor Direct ChassisLink Inc. plans to expand into ownership, management and leasing of 53-foot domestic equipment, and says newly acquired equipment and technology provider REZ-1 will play a key role. "For the most part, growth for DCLI going forward will come from the domestic market," CEO Bill...
No risk, no reward Golar LNG Limited has cleared a major obstacle in the race to convert an ageing LNG carrier into a floating LNG (FLNG) production unit.
DLNG readies bond sale Dynagas LNG Partners is lining up a campaign to unlock the bond market under a broader bid to secure the cash it needs for further expansion.
Iraq sues MMS Iraq has taken legal action against Greece's Marine Management Services (MMS) over its role in an allegedly illegal export of crude from the autonomous Kurdistan region (KRG).
Seamec profits from oldie India's Seamec has fixed one of its veteran offshore vessels for a period of 145 days at $62,000 per day.
SMM gears up for opening A mobile crane has lifted a huge propeller into place at Hamburg's exhibition centre in readiness for the opening of SMM next week.
Drunk master jailed A master found to be drunk in charge of a 1,300-dwt cargo vessel was jailed for four months yesterday.
White list is key to shipyard finance Ship financiers in China's state-owned banks are the main intended readership for a newly released listing of approved shipyards by China's ministry of industry and information.
Crewman missing A seafarer was missing on Thursday after going overboard from a cargo vessel in the river Humber, UK.
Bumi bags $470m Malaysian offshore vessel and FPSO owner Bumi Armada has succeeded in selling its MYR 1.5bn ($472m) Islamic bond to boost its finances.
Tanker wanted India's Sesa Sterlite is on the hunt for a chemical carrier to fulfil a long-term charter.
Fogel in at Zim Israeli container line Zim has appointed finance and insurance specialist Aharon Fogel as chairman to strengthen its board.
Aegean Marine docks three Three vessels owned by Piraeus-based Aegean Marine Petroleum Network (AMPN) have been sent for repair works to Gibraltar yard Gibdock.
NNPC selling FSOs Nigerian National Petroleum Corporation (NNPC) has opened a tender to sell two veteran floating oil storage (FSO) ships.
Pipavav profit falls India's Pipavav Defence and Offshore Engineering has posted smaller profit for the first quarter of its financial year as revenue dropped significantly.
Yard workers could walk Workers at UK shipyard Cammell Laird are threatening strike action in a dispute over pay.
Sewol crew "drunk beer" A Korean seafarer has admitted drinking alcohol while awaiting rescue as the South Korean ferry Sewol sank with hundreds of lives.
Scokin flies in Nasdaq-listed Ultrapetrol will have a new CEO from the airline industry after the Southern Cross fund completed its takeover.
Migrants storm P&O ferry A group of more than 100 migrants tried to storm a P&O ferry in France in a bid to get to the UK.
Jurong goes for $480m Singapore's Jurong Shipyard has launched a dual bond issue worth a combined SGD 600m ($479m).
Hedland hits another high Australia's Port Hedland has seen exports of iron ore reach a new record for a second consecutive month in August.
Tufton declares HMLP stake Tufton Oceanic has emerged as a significant shareholder in US-listed Hoegh LNG Partners, according to a US regulatory filing.
Traf sells terminal stake Commodities giant Trafigura has agreed to sell a majority stake in a marine terminal complex in the US for $860m.
China seeks to boost shipping industry New guidelines issued by China's state council "aim to boost the deficit-plagued sector." Ten shipping companies listed in China reported a loss of $243 million in the first six months of this year, according to a Chinese newspaper.
Ebola dents West Africa shipping services
Descartes reports higher profit Descartes reported a profit of $3.6 million in the second quarter of its 2015 fiscal year, compared with $1.7 million in the same period last year. The Waterloo, Ontario-based industry software company's second quarter ended July 31.
Puerto Rican port tests waters for interested investors The Ponce Port Authority in Puerto Rico is seeking a private port operator to revive the fortunes of the Port of the Americas' mostly empty docks, according to a request for information released Wednesday to American Shipper.
USDA's new rules for dog imports
Class 8 truck orders up 29% in August Industry analyst FTR has released preliminary data showing large truck ordered in North America for August were up 29 percent year over year at 24,947 units. These orders have now had 19 consecutive months with year-over-year increases.
Crude falls as US stockpiles drop Crude supplies declined 905,000 barrels to 359.6 million last week.
Prices head up across Europe Prompt product remain tight in Rotterdam.
Bank could cancel loans if operators break ECA rules 'If we have customers who violate rules, we won't be positive in terms of financing.'
Avails tight in Fujairah Tight avails for IFO product in Durban.
Andatee appoints director Who is former head of CPC Corporation.
Aegean puts bunker tankers in for repair Vessels operate in Bay of Gibraltar.
ExxonMobil upgrades Norwegian plant Addition of new unit to replace HFO with VGO production.
Singapore's onshore fuel stocks falling Stocks down by more than 13% week-on-week.
Gazprom bunkers newly delivered LNG carrier at Nakhodka First time a GM&T time-chartered LNG vessel bunkered in a Russian port.
New chief executive at Ultrapetrol Appointment completes takeover of company by Southern Cross.
Asian bunker market ends day with gains Strong demand seen across most key ports.
ECA regulations 'will cut container traffic on shortsea routes' Volumes could take decades to recover.
Fuel testing firm expands ops to Morocco Laboratory supports clients at North African 'Tanger Med Free Zone' region.
Pertamina official under arrest in fuel smuggling investigation Fuel was allegedly sold to ships passing through international waters off the Indonesian coast.
Multipurpose oil facility planned for 2016 opening UAE-based facility to include 30 storage tanks for bunker fuel, LNG and other products.
NIOPDC: Iran bonded bunkering volume up Firm has sold more than one billion liters of bonded oil products to vessels.
India may remove cabotage trade bunker tax To bring more tonnage into cabotage trade.
IFO prices jump at Manila As local refinery stop produces fuel oil.
Evergreen chooses engine 'derating' modification Mitsui Engineering & Shipbuilding will carry out the work.
MGO prices slip on the Panama Canal Good demand and avails reported at the Central American port.
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