ECSA launches shipowner sulphur survey European shipowners' body ECSA is to survey shipowners to gauge the economic impact of the 0.1% marine fuel sulphur cap, due in force in north European sulphur-emission control areas on January 1. ECSA is seeking responses by 30 November for its questionnaire, which will be followed by further
Maritime traffic shuns Benghazi port Commercial traffic has not berthed at Benghazi, Libya's main commercial port, since 21 October, according to IHS Maritime's Seaweb database. IHS data also suggests that most recent calls have only got as far as the anchorage, without entering the port. Earlier this week, the BBC reported that
Mann Lines, Stena sign ro-ro partnership UK ro-ro carrier and logistics service provider Mann Lines is expanding its capacity and route network through a strategic co-operation with Sweden's Stena Line. Through the partnership with the Nordic ferry operator, Mann will bring in larger, more-efficient tonnage and offer a broader range of
APM New Jersey deal falls through APM Terminals and a Canadian private equity player have cancelled a public-private partnership deal at Port Elizabeth, New Jersey. APM will retain full ownership of the terminal and not pursue a proposal announced in February to sell a 50% stake, the Netherlands-based terminal operator said on 5
Navios launches tanker IPO Angeliki Frangou's latest shipping entity, Navios Maritime Midstream Partners, has begun the roadshow for its initial public offering (IPO) and NYSE listing. The partnership, which will trade under the ticker symbol 'NAP', is selling 8.1M common units at a target price of $19-21/unit. An additional
Fuel-economy gap feeds box ship glut A gulf in efficiency between very large container ships and smaller ones is extending an oversupply of container ships, say analysts at DNB Markets in Oslo. An 18,000teu vessel, for example, consumes a third less fuel per teu mile than a 6,200teu ship, according to the analysts. Coupled with
Shipping lines adopting 'Ebola clauses' 'Ebola clauses' are becoming common in shipping contracts as the maritime industry moves to contain its risks from the current outbreak of the disease. Shipping lines and traders are modifying contracts to protect themselves if ships cannot land or load goods at ports, said Khalid Hashim, managing
Costa Concordia wreck reveals final body Ship Recycling, the consortium dismantling the Costa Concordia, believes it has found the remains of the last unaccounted victim of the capsizing of the cruise ship. A consortium spokeswoman said a body discovered in a cabin on the vessel's number eight deck yesterday was highly likely to be that
Singapore port chief stresses safety Maritime and Port Authority of Singapore (MPA) chief executive Andrew Tan told a maritime safety forum in the city today that Singapore aims to further reduce its accident rate. After 13 major incidents in 2011, Singapore's waters have registered eight in 2012, six in 2013, and four so far this
Efthimios Mitropoulos wins CSR award IMO secretary-general emeritus Efthimios Mitropoulos was presented with a corporate social responsibility (CSR) leadership award at Capital Link's Shipping & Offshore CSR Forum in London on 4 November. Mitropoulos - now chairman of the 'Maria Tsakos' Foundation - told attendees at the fourth
DSME stays relatively stable among peers South Korea's third-biggest shipbuilder Daewoo Shipbuilding and Marine Engineering's (DSME's) 2014 earnings are the most stable among compatriot rivals such as Hyundai HI and Samsung HI amid a sluggish industry, said analysts in a research note. DSME's 3Q14 net profit dived 61.3% year on year to
Pan Ocean continues recovery with 3Q14 profit South Korean bulker operator Pan Ocean continues to recover from its financial woes, posting a KRW196.2Bn ($191M) profit for 3Q14. The result contrasted with a KRW594.9Bn loss for 3Q13. Pan Ocean, once a subsidiary of STX Corporation, went into receivership in June 2013 after its debt exceeded
Sembcorp Marine ahead of Keppel in order wins Singapore-based rig builder Sembcorp Marine's clinching of a rig order from a Bank of Tokyo-Mitsubishi UFJ has put it ahead of its bigger compatriot rival Keppel Corporation in order wins year-to-date. The $240M rig order from BOT Lease has placed the value of Sembcorp Marine's year-to-date
Better charter market in 2015 predicts Rickmers chief Rickmers Maritime Trust (RMT) CEO Thomas Preben Hansen believes that charter rates for modern Panamax container ships would recover in 2015. Speaking to IHS Maritime in a conference call after announcing the Singapore-listed trust's 3Q14 results, Hansen said the charter market for modern Panamax
Navios chief cites risk aversion as spur for expanding from bulker to other sectors Acquisitions of tankers and containerships reduce risks involved in different freight markets, says Shunji Sasada
Dry bulk tonnage to outstrip demand for next two years Orderbook for 2013 is second-highest ever
Seaborne Silk Road leads to the Chinese dream Beijing reinforces view of shipping as national strategy but avoids protectionist rhetoric at World Shipping Summit
APMT and Brookfield's New Jersey venture collapses Dutch-based operator retains full ownership after it is unable to reach a 'commercially viable solution'
TEN unveils deal for up to two new shuttle tankers One firm and one option DP2 suezmax will go on long term charter to oil company
Container alliances may not last, warns Alphaliner Situation looks much like 1980s, argues Tan
DFDS Seaways secures future for Rosyth-Zeebrugge route MoU agreed to save service threatened by Europe's new low-sulphur directive
Crude fireworks this November 5 Some markets are catching fire
Indonesia's Pelindo III reports 27% jump in profits Surge in box exports puts port operator on track to record fourth consecutive rise in annual profits
VLCC rates expected to go steady and sideways over next few days Owners still able to pull in earnings of $47,000 per day for Middle East to Asia voyages
Textainer sees profit improvement Container lessor says fleet expansion and improved utilisation led to profit rise but warns of rate pressure
Economy 'not to blame for shipping downturn' World trade has grown consistently since 2008, DVB banker tells Informa's Ship Finance & Investment conference
Bourbon hit by lower oil price Supply and demand for oil and gas will require recovery in future investment levels
IM Skaugen loses $4.5m as costs bite as it repositions fleet and identity Key drivers are continuing rise in LPG exports out of the US as well as long-haul export of petrochemicals from Europe to Asia
Exports surge at Port Hedland but steady at Dampier Record October throughput at Port Hedland
Jinhui forecasts $19m loss for first nine months Hong Kong-based company says revenue is pinched by the non-recovery in dry bulk market
Pan Ocean posts $191m net profit for third quarter Bidders for bulk specialist said to include KKR and Deutsche Bank
Seven container ships anchored off LA-LB Seven container ships on average have been anchored in the waters off the ports of Los Angeles and Long Beach since Oct. 27, as the congestion crisis at the largest port complex in the Americas continues. Seven container ships were anchored in San Pedro Bay this morning, the same as yesterday...
Deutsche Bahn drivers stage 100-hour strike, disrupting cargo Rail freight transport has ground to a halt throughout Germany as locomotive drivers stage a four-day strike against Deutsche Bahn, the state-owned railroad company. The militant GDL union called the strike, which will hit passenger trains tomorrow, after talks over wages and working hours broke down Monday. The strike will have a...
ILWU, PMA urged to revamp collective bargaining model The Port of Portland is issuing a challenge to the International Longshore and Warehouse Union and the Pacific Maritime Association: Revamp the collective bargaining model that has been in existence at West Coast ports for the past 80 years because it isn't working. "Is the current collective bargaining relationship between the...
Chinese regulators to closely monitor 2M after January launch The 2M vessel-sharing agreement between Maersk Line and Mediterranean Shipping Co. will face additional scrutiny in China if the two carriers don't reduce their combined market share on Chinese trade routes to 30 percent. Although Maersk Line says the 2M doesn't require approval like the P3 Network did, Beijing regulators will...
FedEx Freight CEO Bill Logue to retire Dec. 31 William J. Logue, a veteran FedEx executive who rebuilt the company's industrial trucking business following the 2007-2009 recession, will retire Dec. 31, FedEx said today. Logue, who became president of FedEx Freight in December 2009 and CEO the following year, is leaving the less-than-truckload carrier because of health concerns, the company...
Southern Indian container terminal to open in 2016 A container terminal on the Bay of Bengal will add 1.4 million TEUs of capacity to India's eastern coast when it opens in March 2016. The completion of the 80-acre,1,207 crore ($207 million) Ennore Container Terminal will give the port its first container terminal, said developer Adani Ports, according to Marine...
Long Beach says its truck turn times are faster than Los Angeles The port of Long Beach said its truck turn times have been better than those at Los Angeles for at least four months. Compared with truck turn times at the port of Los Angeles, the port of Long Beach averaged shorter truck turn times each month from June through September. Full-size chart While...
US Customs firms up trade facilitation leadership team U.S. Customs and Border Protection Gil Kerlikowske is sticking to his pledge to solidify his team and focus on improving cargo facilitation. Kevin McAleenan was promoted to permanent deputy commissioner this week, having served in an "acting" capacity since March 30, 2013. McAleenan joined Customs in 2008 and has worked for...
Republican victory in US Congress puts pressure on truck regulators WASHINGTON - The Republican takeover of the Senate could spell a hard stop for federal regulators defending existing trucking rules and pushing for stricter safety measures. But carriers and shippers should still expect tough battles over rule-makings and regulations ahead. Although the general public is more likely to focus on how...
Trans-Pacific spot rates fall ahead of Nov. 15 GRI Spot rates from Hong Kong to Los Angeles lost ground this week, but carriers on the trans-Pacific hope a Nov. 15 general rate increase will buoy the price per container once again. Drewry's benchmark spot rate from Hong Kong to Los Angeles dropped $100 per container to $1,875 per 40-foot container...
Enough Is Enough Once again, shippers and all they represent - things such as jobs, sales, customers, exports - have been relegated to the cheap seats while the melodrama of U.S. West Coast longshore negotiations plays itself out in all-too-familiar fashion. After months of civil, low-decibel dialogue that spared peak-season disruptions but was hardly...
Groundbreaking drayage reform taking shape at Port Metro Vancouver Port Metro Vancouver said it's on track to deliver on far-reaching reforms that ended a trucker strike that crippled Canada's largest port for a month in March. Actions taken by terminals in at Port Metro Vancouver to alleviate pressure on truckers following a monthlong trucker strike in March are reducing turn...
APMT: Port authority's conditions scuttled NJ terminal joint venture APM Terminals dropped its plans for a 50-50 joint venture for its Elizabeth, New Jersey, container terminal after the port authority set unacceptable conditions for the deal, said Eric Sisco, president of APM Terminals North America. As landlord for the terminal, the Port Authority of New York and New Jersey has...
Rotterdam's 'congestion' terminal breaks port's handling record The terminal at the center of the congestion crisis in Rotterdam over the summer has just set a new port record for the number of containers loaded on and off a ship at Europe's largest container hub. ECT's Delta terminal handled 10,577 containers - 5,341 loaded and 5,216 unloaded -during the...
Crowley offloads US tankers Crowley Maritime (Crowley) has parted ways with a pair of its Jones Act product tankers in a transaction worth nearly $300m.
AKPS ends hunt for $100m Aker Philadelphia Shipyard has abandoned a campaign aimed at identifying new sources of debt financing.
Navigator faces downgrade A leading equity analyst has downgraded shares of Navigator Holdings, the LPG carrier operator backed by private equity legend Wilbur Ross.
TEN in shuttle tanker deal Tsakos Energy Navigation has expanded its shuttle tanker business with an order for a DP2 suezmax against a fresh period contract.
Shandong taps US market China's Shandong Shipping has generated big demand for its first ever US dollar bond.
GMS blasts EU plans Cash buyer Global Marketing Systems (GMS) has challenged the European Commission's intention to ban ship demolition on beaches and has asked officials to check for themselves the condition of Indian shipyards.
Nobu Su loses court case Greek shipowner Polys Haji-Ioannou has won a claim of almost $38m against Today Makes Tomorrow (TMT) chairman Nobu Su in the UK High Court.
PDZ branches out Malaysian boxship owner PDZ Holdings has finally succeeded in diversifying with a $205m investment in Kazakhstan's gas industry.
SMM Q3 profit inches up Singapore's Sembcorp Marine has seen its third quarter profit grow on the back of higher revenue.
Sinotrans turns banker Hong Kong bulker owner Sinotrans Shipping has continued its move into financing in a deal with Bank of America (BoA).
Packed ferries replaced Japan's K Line has deployed three newly-built vessels to "relieve" an overcrowded route in Myanmar.
Pan Ocean profit grows Restructured Korean shipowner Pan Ocean has posted another strong quarterly profit ahead of an auction for its shares.
Navigator still set on VLECs Wilbur Ross-backed Navigator Holdings is still hopeful of entering the very large ethane carrier (VLEC) market despite its debut in the fledgling sector taking longer than anticipated.
One step closer Compania Sudamericana de Vapores (CSAV) and Hapag-Lloyd are very close to seeing their merger plans materialising after Brazilian authorities gave the green light.
Baja Ferries still keen Mexico's Baja Ferries remains interested in acquiring ro-paxes and routes from French owner SNCM, which filed for bankruptcy protection on Tuesday.
Bourbon's revenue grows France's Bourbon has seen its revenue grow during the third quarter thanks to its expanding fleet and higher average daily rates.
New Talent for China VLCC Newly created joint venture China VLCC has snapped up a modern tanker operated by Nanjing Tanker.
Ma can't see recovery Cosco's chairman has played down talks of a global shipping market recovery within the next two years as the supply-demand imbalance seems unlikely to improve.
Nerbovik takes over Aker Philadelphia Shipyard (AKPS) has a new president and CEO from today as Kristian Rokke takes the chairman's seat.
Oil price fall aiding AP Moller A declining oil price could see AP Moller-Maersk pass full-year profit expectations, DNB Markets says.
GE confirms MR deal Great Eastern Shipping has confirmed the acquisition of a medium range (MR) tanker.
Cosette to be scuttled A deteriorating ro-ro involved in a false certification case is to be sunk off Martinique.
DFDS commits to Rosyth DFDS Seaways has signed a deal with the Scottish government and Forth Ports to keep operating the country's only freight service to mainland Europe.
Chinese bulker arrested Singapore's admiralty sheriff has detained a Chinese-owned handysize bulker, according to court documents seen by TradeWinds.
PACD plans buyback Pacific Drilling has unveiled plans to buy back up to 8m of its own shares which are down over 40% since the start of the year.
Hyundai woes not over Hyundai Heavy Industries has come in for harsh criticism over its poor financial performance from a top US investment bank.
Hedland sets new record Port Hedland has reported another record breaking month for iron ore exports, figures released by the port authority show.
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