Brookfield and MOL to seek out port opportunities in Latin America 'Strategic relationship' follows two years of negotiations
Total plays down Yamal LNG export difficulty French energy giant says first ship to be delivered in February 2016
Panama Canal Authority demands GUPC resumes work on locks Production levels drop to 25% after two weeks of negotiations, ACP says as talks stall
Nick Hubbard quits Braemar Singapore-based James Buck to head container desk
Clampdown on banks could open way for private equity and hedge funds Traditional lenders could be told to take a tougher line, ship finance panel is told
Knightsbridge sees stronger fourth quarter revenues Operating revenue is flat year on year at $37m despite stronger finish
Lloyd's Register to dual class MOL Comfort sisterships MOL Charisma first to come under new arrangement between UK society and ClassNK
Mitsui OSK Lines launches MOL Comfort lawsuit against MHI Carrier seeks damages and compensation to cover costs of strengthening sisterships
Carriers look to drive up eastbound Asia-Europe rates OOCL, Hanjin and Hapag-Lloyd plan March rises amid claims that costs are not covered
Lunde joins M&M's board DVB veteran becomes the seventh director at Oslo-based ship finance start-up
Diamond S plans $100m IPO to fund South Korea-built product tankers Billionaire-backed group has yet to confirm how many shares it will sell and at what price
When is a 19,000 teu ship not a 19,000 teu ship? Claims of increased carrying capacity are purely notional, says Alphaliner
Data Hub: Trade Statistics Positive growth expected on European lanes, but introduction of larger ships will further weaken rates
Piracy loses its bite in Asia ReCAAP reports 13% increase in incidents in 2013 but the attacks were less violent
P3 compromise? Competition law specialist says he believes P3 Network will be approved in Europe, but carriers may have to make adjustments
Legal grey area for lines as Brussels opens antitrust proceedings Commission to investigate whether freight rate announcements represent unlawful price signalling
Pakistan tipped to sign Qatar LNG import deal Agreement would open a new trade route for carriers
DP World annual results reveal a stronger second-half performance Figures reflect port giant's year of divestment and monetisation of assets
Ardmore secures $172m term loan Money will provide 65% finance for eight vessels on order
Charter shake-up pays as Korea Line unveils an annual operating gain Revenues decline from smaller fleet but operating income returns to profit
Aurora LPG likely to take up newbuilding options Aurora LPG Holding, the new LPG carrier owner that recently raised $150M in equity on the over the counter market in Oslo, is likely to take up its two newbuilding options, a shipping analyst said
Vessel breaks in two off Bayonne A Spanish freighter has broken in two after being projected against a stone breakwater at the entrance to the port of Bayonne in south west France in heavy seas
Panama Canal talks break down The Panama Canal expansion project is on the "brink of failure" after a breakdown in contract negotiations, according to the consortium building the new locks
Capacity control key for container outlook Capacity control remains key to the future direction of freight rates on the container shipping market, according to a senior shipping analyst
Bureau Veritas to offer advanced Computational Fluid Dynamics services French hydrodynamic specialist HydrOcean will provide advanced Computational Fluid Dynamics services to Bureau Veritas's (BV) shipping and offshore clients to help them cut fuel costs, reduce design risks, and improve vessel performance
Green light for rail line to Lobito Work is expected to start this year on a near-$1Bn rail link from northern Zambia and Democratic Republic of Congo to the Angolan port of Lobito
Binny Shipping seeks financial aid Cash-strapped Binny Shipping (BSL) has approached lenders in Mumbai to help it to get its arrested Handymax 'Nirmal Gautam' released from Singapore
Samsung HI likely to win Rotan FLNG deal Samsung Heavy Industries is tipped to win its second floating LNG contract, after Murphy Oil and Malaysian oil company Petronas took a final investment decision for the Rotan FLNG project
Ships in Asia sees more theft in 2013 There were more incidents of piracy and sea robbery in Asia in 2013 but these were of a less violent nature compared to 2012
Ferry capsized in Bangladesh A massive rescue operation is underway in northeastern Bangladesh after a boat ferrying labourers and their children caught fire and capsized in Surma River on Monday night
Adaro's coal production hits record Adaro Energy, Indonesia's second biggest coal miner, saw production hitting a record 52.27M tonnes for 2013
Toho Gas to buy LNG from Cameron project Japanese gas company Toho Gas has signed a 20-year contract to import liquefied natural gas from the Cameron project in the US
Underfunding Keeps US Ports Shallow Ro-ro ship at the Port of Brunswick.Although its channel depth is supposed to be 38 feet at the harbor entrance, Brunswick, Ga., currently has only 31 feet at low tide due to shoaling and inadequate funding for dredging, constraining shipping at one of the nation's largest auto gateways. To minimize constraints...
Truck Shipments to Pick Up Pace in 2014, Says ATA's Costello Bob Costello, chief economist for the American Trucking Associations. WASHINGTON - Truck tonnage surged last year at a pace not seen since Bill Clinton was in the White House, powered by the demand from the energy, construction and automotive sectors. As the economy grows faster this year, shipment volumes will start to...
Work Stops on Panama Canal Expansion Work to expand the Panama Canal was suspended today following a breakdown in talks between the canal authority and the construction consortium to resolve a bitter dispute over more than $1 billion in cost overruns. The head of the Panama Canal Authority demanded in a statement today that the consortium led...
CN Faces Strike Threat Amid Harsh Winter, Bumper Harvest A union representing about 3,000 conductors, train and railyard workers at Canadian National Railway gave the railroad a 72-hour strike notice yesterday evening. CN said today they received the notice after the railroad and the Teamsters Rail Conference failed to ratify tentative agreements reached in October following two days of negotiations....
C.H. Robinson's 4Q Profit Plunged C.H. Robinson Worldwide reported its net income in the fourth quarter of 2013 was $93.0 million, plummeting 63.7 percent year-over-year from $256.4 million and contributing to a 30.0 percent decline in full-year profit after three previous quarters of declines. The third-party logistics provider's earnings per share of $0.62 dropped 6 percent year-over-year...
DP World Posts Strong Second-Half Growth EmbraportDP World handled nearly 55 million TEUs at its global terminals in 2013, down 1.9 percent from the previous year's 56.1 million TEUs, due to the sale of a facility in Hong Kong and other divestitures. Traffic grew 0.7 percent on a like-for-like basis, following a 3.6 percent increase in the...
Out of the Gate The year is barely a month old, but interesting developments already are emerging. Research analyst Drewry started 2014 quickly by reporting that fewer than half of the global container carriers made money last year. Drewry's report tracks the activities of carriers struggling to remain viable globally. Zim Integrated Shipping Services...
Nippon Express Posts Profit Gain of Almost 14 Percent Japan's largest international freight forwarder Nippon Express said its profit jumped 13.8 percent year-over-year in the first three quarters of fiscal year 2013, which started on April 1, 2013, to ¥18.305 billion (about US$181.24 million). The Tokyo-based company's revenue rose 6.2 percent in the April to December period to ¥1.280 trillion,...
Navios seals scrap deal Navios Maritime Acquisition Corp has officially parted ways with an ageing VLCC that was widely believed to have been sold for demolition late last year.
Crude debate heats up A growing number of industry forecasters are weighing in on the debate about whether the Obama Administration should put an end to restrictions on the exportation of crude oil produced in the US.
Canal work stops The consortium building locks for the expanded Panama Canal has made good on a threat to suspend work, Panamanian officials said today.
Ferries fixed firm Baltic Sea ferry operator Tallink says it has extended charter agreements with Stena Line for the Stena Superfast VII and Stena Superfast VIII vessels until autumn 2019.
IRISL lost 30 ships Sanctions against Iranian owner IRISL cost it 30 newbuilding orders, but it is now ready to return to shipyards.
Volgaflot boosted Volga Shipping Co (Volgaflot) has seen cargo volumes for its new river-sea dry cargoships increase 26.5% in 2013.
Knightsbridge on the up Knightsbridge Tankers reported a $3.5m net profit, excluding results from its discontinued VLCC operations, in the final quarter of 2013, which meant it also made the same level of net income for the whole year.
Spanish cargoship breaks in two A Spanish cargoship has broken up after smashing into a breakwater as it tried to enter the port of Bayonne in France.
Scandlines gets bargain Baltic ro-ro operator Scandlines has succeeded with a bid to buy back two ro-paxes it cancelled at bankrupt German shipyard P+S Werften.
IHC Merwede gets busy Dutch yard IHC Merwede has won new dredger and offshore orders totalling EUR 350m ($473m).
RAF rowers rescued Four-person Atlantic race team brought back to dry land by the Hedvig Bulker
China to surpass US The increasing importance of China to the tanker market has been underlined by a new report predicting it will be the world's biggest net importer of oil this year.
Namura doubles up Namura Shipbuilding has reported operating profits in the nine months to 31 December 2013 rising to nearly JPY16bn ($158m), from JPY 7.8bn in the same period the previous year.
Diamond S profit cut Wilbur Ross-controlled Diamond S Shipping has revealed a much-reduced profit for the nine months ended 31 December.
DP volumes edge up Dubai's DP World has posted a small increase in its annual volumes for 2013.
Panama row widens Irreconcilable differences over the cost of building big new locks for the Panama Canal have caused a breakdown in negotiations between the construction consortium and the waterway authority.
Bourbon builds revenue French offshore shipping group Bourbon has boosted its sales for 2013 as its fleet expanded.
Ports America fixes finance US terminals group Ports America has clinched a $475m refinancing deal.
ECO takes seven US owner Edison Chouest Offshore (ECO) has snapped up seven platform supply ship (PSV) newbuildings from compatriot Bee Mar.
Two for Tauranga Cheoy Lee Shipyards of Hong Kong has won an order to build two tugs for the port of Tauranga.
Tidewater earnings slide Tidewater has seen a large drop in third quarter profits due to a goodwill impairment charge of $56.8m.
Alam ties up barge ExxonMobil has agreed a charter extension with Alam Maritim Resources Berhad for one of its accommodation barges.
Gas carrier released Authorities in Singapore have released a Thai-owned LPG carrier that was arrested just before the start of the Lunar New Year.
Diamond sparkles US product tanker operator Diamond S Shipping is moving forward with plans to pursue a public listing in New York.
Mission impossible? Euronav has teamed up with one of the most powerful private equity firms on Wall Street in an effort to acquire tankers controlled by ailing US compatriot Overseas Shipholding Group (OSG) but not everyone is convinced the duo will emerge victorious.
Teamsters to strike after dumping deal from Canadian National The strike threat comes after the union, a 3,000-member group of conductors, trainmen and yardmen, voted down a labor contract with CN that was presented in October, according to SchedNet.
Isabella Shipping merges U.S. services Isabella Shipping has merged its U.S. East Coast and U.S. Gulf liner services, dropping its call in Cartagena, Colombia, according to BlueWater Reporting.
Korean, Singapore airlines settle in price-fixing lawsuit Korean Air and Singapore Airlines have agreed to pay more than $200 million in a class-action lawsuit stemming from the carriers' price-fixing activities, according to the law firm Sandler, Travis & Rosenberg.
ARC delivers U.S. tanks, Bradleys to Germany
Coalition forms to aid Port of Quincy
Steel company opening up at Port Tampa Bay
ChassisFinder rolls out new tool
Philippines' Conejos leads WTO trade facilitation committee At the first meeting of the Preparatory Committee on Trade Facilitation on Jan. 31, World Trade Organization members unanimously elected Philippine Ambassador Esteban B. Conejos, Jr., as chairman.
Canal expansion in turmoil as ACP ends talks with contractor Panama Canal officials on Tuesday broke off talks with the international consortium responsible for constructing a third set of larger locks, potentially jeopardizing the late 2015 opening for a project that is nine months behind schedule.
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