Total signs 10-year deal to supply LNG to Singapore Slew of sales agreements masks the shipping segment's underlying troubles shipping
Shipping employers agree three-year pay deal Agreement signed in Indonesia will increase salaries by more than 6% by 2017
Box lines improve their on-time performance for a second month But SeaIntel says carriers are still less reliable than they were last year
Espo: Weigh boxes? Yes, but not on our patch European port organisation agrees with the idea in principle - but not in the terminal
US ethane export plans pose more questions than answers Start-up trade needs specialist terminals, new carrier types and clarity on import demand
US energy officials explore crude-export prospects Energy Information Administration wants more clarity on opportunities and challenges
Poulson to head project and heavylift specialist Rickmers-Linie America Sappio steps down next month but retains a place on the board
Posidonia 2014: Charter owners to retain importance to carriers, says owner Pittas advocates 'cheap' secondhand boxship acquisitions rather than orders
AP Moller-Maersk agrees a $5.1bn credit facility Deal with 21 banks is designed to reduce the Danish shipping giant's financing costs
Hamburg awaits dredging decision The leading German port has started the year strongly but congestion problems have highlighted the need to dredge the River Elbe
Oil and gas transport needs $3.6trn of investment to 2035, says IEA Sums outlined in new study include spend on infrastructure and tonnage
Ports warned about insider crime Delegates at SMi's International Port Security Conference in London have been urged to establish strong staff vetting systems in order to discourage insider crime. Martin Dubbey, managing director of Dextera Global, said: "In my experience there is a core of criminality that influences all ports
DFDS raises $91.1M in five-year bond issue DFDS, the listed Copenhagen-based shipping to logistics group, says it has issued a five-year DK500M ($91.1M) senior unsecured bond maturing in June 2019. "The bond has been sold to a wide range of primarily Danish institutional investors," the company said in a statement. The bond, which will be
Sewol owner's aides arrested Two men identified by authorities as aides to the fugitive owner of capsized ferry Sewol have been provisionally arrested, according to South Korea's Incheon District Prosecutors' Office (IDPO). The IDPO said Incheon police arrested Kwon Oh Kyun, brother-in-law of Yoo Byung Eun, who is the chairman
Wärtsilä launches fixed-pitch propeller design A new state-of-the-art fixed-pitch propeller (FPP) design concept has been introduced by Wärtsilä. Shipowners can consider the design as a means to implement fuel-saving strategies in the face of rising oil prices and tougher demands from regulators to slash emissions. Deploying the latest
APM and 21 banks in revolving credit scheme AP Møller-Mærsk (APM), the Danish shipping to energy group, says it has completed a $5.1Bn syndicated revolving credit facility with a group of 21 banks. "The new facility is arranged by the company itself and refinances a $6.75bn facility maturing in 2015," the company said in a statement. APM said
CMA CGM Group reports 40% cut in emissions The CMA CGM Group has achieved a 40% reduction in its vessels' CO2/teu-km emissions since 2005, signalling that the world's third largest container shipping company is on track to hit its target of kerbing them by 50% by the end of 2015. CMA said it has deployed several initiatives to meet
More kidnappings expected in west Africa The kidnapping of maritime personnel in west Africa is a rising trend, which experts expect to continue. "During 2011 to 2013 [the number of] kidnappings rose, and we foresee that this trend will continue - we will see more kidnappings in the future," said Hallvard Flasland of the NATO Shipping
China vessel exports down 15% y/y China's vessel exports fell 15% year on year to $7.9Bn in the first four months in 2014 due to low levels of completed tonnage of shipyards, with imports down 35% y/y to $520M during the same period. Bulk carriers, oil tankers and container ships accounted for more than 60% of all export values of
Analysts divided over Vard's outlook Singapore-listed Vard Holdings (Vard) has just clinched a new order from Rem Offshore worth around NOK800M ($133.3M), making it the 13th newbuild contract since the year started. So far, the company has been awarded contracts worth approximately NOK8.5Bn. DBS Vickers Research analyst Yeo Kee Yan
Zero earnings for VLCC owners VLCC owners are giving away voyages for free as freight rates plummet into negative territory on the benchmark route. The Baltic Dirty Tanker Index assessed the Arabian Gulf (AG)-Far East rate at Worldscale (W) 33.08 yesterday or a negative $1,477/day, while AG-Singapore rates averaged W33.42 or
Good marketing positioning vital for investment Good marketing positioning and a strong balance sheet are the key factors to good investment, according to Carey Wong, research manager at OCBC investment Research. Wong noted that the trend of increasing protectionism from the oil companies may hinder growth in the short term. On the other hand,
Indonesian coal exports to China hit 20-month low Indonesian coal shipments to China fell to a 20-month low in April as falling prices of Chinese domestic coal hurt the country's appetite for imports. China imported 4.6M tonnes of Indonesian coal in April, 24% lower than in March. The imports were also 36% lower year on year. The all-time low was
Australian port privatisation goes to the vote The Queensland government announced yesterday it would seek a mandate at the polls next year for the proposed sale of its ports. Its AUD33.6Bn ($31.2Bn) privatisation plan includes the long-term lease of both Townsville and Gladstone ports. The sale would help offset the state's AUD1.6Bn deficit
Capesize fleet totals just two additions in May Net growth in the Capesize fleet totalled only two ships in May as six ships were delivered while another four vessels were demolished. IHS Maritime's Sea-web data show that in May, 1984-built Ji Sheng, 1990-built Phyllis N and 1989-built Macau Mineral and Magdalene were demolished. The delivered
China urges Vietnam to withdraw ships China urged Vietnam on Tuesday to immediately withdraw its vessels and people in the South China Sea as clashes between Chinese and Vietnamese vessels around an oil rig continue. The collisions started in early May. Vietnam dispatched 36 vessels, ramming Chinese vessels up to 171 times, according to
Sinotrans sells $162M bonds Hong Kong-listed Sinotrans Limited said today that it had decided to raise CNY1Bn ($162M) by selling bonds on the Hong Kong Stock Exchange. The bonds, scheduled to be due in 2017, will carry a coupon of 4.5%, a stock filing of the company said. The bonds are expected to be issued on or before 10
Andamans sighting adds new angle to MH370 search The Australian Transport Safety Bureau says it will "review" a British yachtswoman's report of an aircraft on fire over the Andaman Sea on 8 March. The time and location of the claimed sighting broadly coincide with the estimated track of Malaysia Airlines flight MH370, which was lost the same day.
Wake study reveals port dangers Wash generated by the wake from passing ships can compromise port safety and damage the environment, a study has confirmed. The results of the Bechtel-led project, Research on the Passing Effects on Ships (ROPES), were unveiled at the World Association for Waterborne Transport Infrastructure World
DNV GL to open Greek support centre Class giant DNV GL will provide a direct line of contact to technical experts through a new office in Piraeus, Greece. "Over the last few years, Greek owners have emerged from the financial crisis in a much stronger position than ever before, again owning the world's largest merchant fleet and
Greece vows to maintain shipping focus Greece's government will support both existing and new shipping companies, shipping minister Miltiades Varvitsiotis told delegates at Posidonia 2014. "We want to maintain the competitiveness within the Greek shipping market," said Varvitsioitis. "Greece will always be a proud shipping nation." "Two
Cass: Solid growth in freight volumes, expenditures in May Freight volumes and shipping costs rose yet again in May, according to the Cass Freight Index, the fifth straight month of unprecedented growth in the index. The Cass Freight Expenditures Index and the Cass Shipments Index continued to trend upward in May. Full-size image "North American freight shipments and expenditures continued to buck...
Bike supplier chooses Savannah as gateway The good news keeps rolling in for a fast-growing U.S. East Coast port: Savannah was picked as the gateway location for Dynacraft Bikes, one of the largest U.S. bike suppliers. Dynacraft products - including bike and scooter brands such as the Tony Hawk Park Series, Hello Kitty, My Little Pony, Monster...
Bid to suspend truck driver restart rule advances in Senate WASHINGTON - The U.S. trucking industry today scored a rare victory against new federal hours of service rules after a Senate committee voted to suspend the revised restart provision - the most onerous part of new regulation - for a year. The amendment, introduced by Sen. Susan Collins, R-Maine, would suspend...
Age-old problem: Not all trucks are equal ACT Research sees an increase in active truck capacity this year, in terms of the numbers of Class 8 tractors, the first since 2007. By any measure, truck capacity is down significantly from its pre-recession peak, so the forecast is good news for shippers. It's not much of an increase, just...
China's express market boom drives airline expansion Air China Cargo and China Postal Airlines have strengthened their strategic partnership with the launch of a new service between Guangzhou and Nanjing as the carriers move to capture a growing share of the fast expanding mainland express market. A Boeing 757-200 freighter operated by Air China Cargo took off from...
Time to toughen up US ports Contract negotiations between the International Longshore and Warehouse Union and U.S. West Coast waterfront employers are shining a light on the integrity of the U.S. ports system. If talks break down, import and export cargo flows will be at risk. One critical element missing from the debate is how to...
Qatar Airways, Saudia Cargo expanding freighter services Two Arab Gulf air cargo carriers are expanding freighter services, underscoring the strength of the region's carriers in a weak global air freight market. Qatar Airways will make its debut in the Latin American market next week with a service to Mexico. A few days later, Saudia Cargo will revive...
Maersk completes $5.1 billion refinancing Maersk Group says it completed a $5.1 billion syndicated revolving credit facility to replace loans maturing in 2015, reducing its financial costs. The loan facility provided by 21 banks has a maturity of five years, which may be extended by up to two years. The Danish parent of Maersk Line said it...
Analysts question future of same-day shipping Target's customers in certain markets can choose to receive shipments within hours of ordering when a pilot same-day shipping program is launched this month, but some industry analysts think same-day shipping is just a temporary fad with little possibility of becoming profitable. In late May, Target announced plans to launch the...
ILWU, employers say US West Coast contract negotiations continue The International Longshore and Warehouse Union and Pacific Maritime Association yesterday issued a joint release saying the contract negotiations that began on May 12 are continuing without interruption. "Both parties remain at the table and are working to reach agreement on a new coast-wide contract," the ILWU and PMA stated. Their...
Sentinel wins five-year deal Sentinel Marine of Singapore has snagged a five-year contract with GDF Suez for an emergency response and rescue vessel (ERRV).
Victory Bridge loop rejigged Compania Sud Americana de Vapores (CSAV) is poised to pull a containership from the Victory Bridge vessel sharing agreement with France's CMA CGM.
Rickmers grabs rival's exec Rickmers-Linie has replaced US head Robert Sappio with an executive from Safmarine's multipurpose division.
Putin's LNG pressure Russian president Vladmiri Putin wants more LNG carriers built in the country for the massive Yamal gas project.
NewLead in share spat Greece's NewLead Holdings has won a temporary restraining order preventing US investor Ironridge converting any more preference stock into shares.
KfW doubles up Germany's KfW IPEX-Bank has come up with another EUR 600m ($814m) to finance a second newbuilding for Star Cruises.
Crew hit by malaria Two seafarers have been taken to hospital in Bermuda with suspected cases of malaria.
"Desperate" death slammed A UK report has criticised lax safety practices on a tug from which a crewman fell to his death in rough seas.
Wage deal sealed Seafarers have won pay rises worth 6.5% over three years after talks between the ITF union and owners' representatives at the International Bargaining Forum (IBF) in Bali this week.
Beware the drones A group of European shipowners is urging authorities to use drones to detect vessels avoiding new emission regulations from next year.
Dof stretches PSV deal Norway's Dof has been awarded an extension of a platform supply vessel (PSV) charter to Nexen Petroleum of the UK.
State stumbling block? The restructuring of China State Shipbuilding Corporation (CSSC) has been further complicated by the need to seek permission from two state watchdogs.
Siem Sailor sails away Norway's OH Meling has snapped up a platform supply ship (PSV) previously owned by its joint venture with compatriot Siem Offshore.
Africans plan line Ghana and other West African nations are trying to drum up private capital to launch a sub-Saharan shipping line.
Mercator takes $55m Indian owner Mercator has hinted at an IPO for oil and gas services subsidiary Mercator Energy (MEPL) as it fixed a new loan.
27 hurt in ferry crash Two passengers have sustained life-threatening injuries after a ferry hit a quay in Germany.
Hedland hits new high Iron ore shipments from Australia's Port Hedland jumped nearly 30% last month, extending the three month streak of all-time highs.
Quanzhou Bay smash A containership and a general cargo vessel have collided with each other in China's Quanzhou Bay.
Rail tank car joint venture formed amid pending rule change The Greenbrier Companies and Watco Companies have banded together to form GBW Railcar Services, which will become the largest independent railcar repair, maintenance and refurbishment business.
SeaIntel: Schedule reliability better, but still behind 2013
CMA CGM, CSAV amend Victory Bridge agreement The Federal Maritime Commission said the amendment to Agreement No. 012104 increases CMA CGM's slot allocation, revises the number of vessels contributed by each party, and adds Savannah to the expected port rotation.
Teamsters: EPA plan could cost rail jobs "There is a place for renewebles in this plan, but the rising cost of energy in ... European countries should act as a cautionary tale against moving too quickly and aggressively, and failing to diversify our energy portfolio," the group said.
Analyst: Railroads see 'robust' traffic
WFS takes charge of Transglobal Cargo Centre in Kenya
Trucking Conditions Index falls 2 points in April
Damco expands in Minn.
Poulsen named CEO at Rickmers-Linie (America)
E2Open acquires high-tech supply chain visibility company The cloud-based collaborative planning and visibility platform E2Open has acquired SERUS, a cloud-based supply chain management solutions provider, for $18.5 million, the company said Wednesday.
Commerce levies duty penalty on Chinese solar panels
IFO prices soft in Fujairah Flat pricing seen in Suez and Cape Town.
Bunker prices give mixed signals across Europe Low demand seen in Gibraltar.
Lack of regulatory code the biggest hurdle in LNG adoption 'Ultimately the decision comes down to an investment decision vessel by vessel,' says consultancy.
Final trip for ECA-closure ferry sold out DFDS sees boom in passenger numbers on route due to close in September.
Japanese propeller design claims up to 16% fuel savings Figure achieved in combination with other devices.
Scrubber will help 'minimise' Cunard's environmental impact Exhaust gas cleaning technology retrofitted to luxury ocean liner.
Nicaraguan Canal 'good idea', says Maersk To give access to biggest ships.
Fuel oil stocks remain high despite drawdown Singapore market still 'rich in supplies'.
Consultant: Organised crime behind Asian piracy threat Small product tankers operating out of Singapore most vulnerable.
New backing for 'drone patrols' of ECA waters Europe must develop 'a range of emission monitoring tools'.
Court ruling: Owner not liable for bunkers ordered elsewhere Finding prompts P&I club to warn on bunker delivery receipts.
Bunker prices weaken in Asia Offices in Busan to close for a holiday on Friday.
Supplier sees 'exciting prospects' in Greece and Med Monjasa says 2013 revenue exceeded $2 billion dollars.
Quebec raises shipbuilding incentives Government encouraging owners to 'modernise and renew' their fleets.
China fuel oil imports fall in May Sinopec imported 165,000 mt of 380 cSt product from Malaysia for bonded bunker operations.
DNVPS Europe welcomes new COO Staff is a veteran in the maritime industry, according to DNVPS.
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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