Shipping is 'decades behind' on cyber security, KPMG warns How industrialised hacking is exposing our industry to a very real threat of attack
Sovcomflot aframax to ship Libyan crude from reopened Hariga terminal UPDATED: Russian tanker booked to load after rebels let eastern ports resume oil exports
Scorpio Tankers seeks a $35m bond If the deal goes ahead, it will become the second shipping baby bond of the year
Aronnax: Is there a case for crew-free ships? Free to read: behind the tabloid headlines about drone ships, the concept remains live
Overcapacity is a challenge to 2014 profitability, China Cosco warns State carrier hopes its newbuilding programme will 'adjust fleet composition'
Dr Peters VLCC sale highlights rise in asset values Offers of more than $45m on very large crude carrier; values were $34m a year ago
Asia-West Africa trade lane stability under threat Lines' changes to their services include phasing in larger vessels
Demolition rates remain firm ahead of monsoon season China-controlled vessels divert to Indian subcontinent despite Beijing subsidies
Rickmers Maritime Trust places first tranche of Singapore note Transaction expected on May 15 should raise $80m
Danaos sees profit trimmed by Zim restructuring fallout Boxship owner continues sale of older vessels
Rates for reefer containers carrying westbound meat cargoes set to rise TSA recommends $700 per feu hike, citing higher demand and a supply shortage
BMT Group to launch AUVs BMT Group Ltd (BMT) is preparing to demonstrate how its autonomous underwater vehicles (AUVs) can help reduce underwater threats in ports as its four-year research project, part-funded by the European Commission's FP7 Security Research Programme, draws to a close. Utilising intelligent algorithms
Indonesian Australian maritime dispute inflamed Indonesian foreign minister Marty Natalegawa told ABC on 6 May that allegations the Australian Navy added people to a lifeboat of migrants before towing it back to Indonesia was "a very serious development". On Friday Australian prime minister Tony Abbott cancelled a trip to Bali to meet with
Wilson wins PSV pair Brazilian shipbuilder Wilson Sons has won an order for the construction of two platform supply vessels (PSVs) with options for an additional six. Delivery of the 4,500dwt vessels is scheduled for 2017, and they will be operated by Brazilian shipping company Wilson Sons Ultratug Offshore, a joint
First east-west for London Gateway London Gateway has secured its first deepsea east-west service after the G6 Alliance decided to include the facility in the European rotation of its trans-Atlantic PA2 service. The first call will be on 14 May by Margrit Rickmers, chartered by Singapore-based alliance partner APL. The US East Coast
Voyage calculator to cut costs Applied Weather Technology, Inc has launched its Voyage Calculator program to help shipowners plan the most efficient and cost-effective journeys. It takes into acount weather, ocean currents, hire rate, and fuel consumption. "Ship brokers and charterers need voyage time and distance estimates to
Italy's Fincantieri to list Italy's state-run shipyard Fincantieri is expected to apply for listing on the Milan bourse this week after shareholders approved a €600M ($835M) capital increase at a meeting on Monday. "The intention is to list the company before the summer," CEO Giuseppe Bono told journalists. As well as
Ensco selects Lamprell for Jackup pair New York listed Ensco has ordered two high-specification jackups, ENSCO 140 and ENSCO 141 from Sharjah-based rig builder Lamprell Energy. The two jackups are significantly enhanced versions of the LeTourneau Super 116E design with a scheduled delivery in mid-2016 and two options attached to the
Ulstein secures Casco accommodation vessel Ulstein Sea of Solutions (USOS) has been awarded the design contract by CASCO Offshore for the CASCO Enabler, a high specification DP3 800 POB monohull accommodation vessel for 800 people. The Ulstein Deepwater Enabler design will be used as a base and Ulstein will be working closely with CASCO in
High frequency radar to improve navigation A new website will provide mariners with coastal ocean surface current observations and tidal current predictions in coastal waters using high frequency (HF) radar. The service is provided by the NOAA National Ocean Service and intends to make marine navigation safer. Currents in the ocean are
Tanker price rise takes breather as China continues to cool The valuations of tankers in the secondhand market appear to be taking a breather after a strong rise in the recent past. Meanwhile, new evidence is emerging that the Chinese economy, which is vital for demand in both crude tanker and dry bulk shipping, continues to cool, shipping analysts say.
PSA to Develop and Operate Fourth Container Terminal in Mumbai Bharat Mumbai Container Terminals Private Limited (BMCT) today signed the concession agreement with Jawaharlal Nehru Port Trust (JNPT) to develop the fourth container terminal in Mumbai. BMCT, a wholly owned subsidiary of PSA Bharat Investments Pte Ltd, is to develop the terminal on a design, build,
BV helps yards meet IACS change French class society Bureau Veritas has finished a series of assessments with major shipyards in Japan, South Korea, and China to ready them for changes in IACS' structural rules entering force next year. BV assessed current ship designs using two IT software suites, MARS2000 and VeriSTAR Hull, it
Floatel in financial moves to secure expansion Floatel International, the Bermuda-domiciled accommodation rig owner that is listed in Oslo, has unveiled a number of financial moves that are planned to secure the expansion of the eight-year-old company. The company, headquartered in Mölndal, Sweden, has received commitments for a $100M revolving
DNB: VLGCs face speed dilemma Very large gas carriers, the main workhorses of seaborne LPG, could earn more if they sail at faster speeds. However, doing so could also raise vessel supply and drive down spot rates. DNB analyst Nicolay Dyvik said: "With current bunker prices, the vessels should sail significantly faster. On our
French shipowners pay tribute to Tristan Vieljeux French shipping stalwart Tristan Vieljeux, who headed the Delmas Vieljeux shipping group for 27 years and then became a leading figure in the CMA CGM group, has died at the age of 89. Vieljeux is understood to have died last Wednesday, but his death only became widely known after French transport
US Intermodal Rates Extend Slump Intermodal rates in the U.S. dropped for a third straight week as transportation through Chicago recovers from wintertime snarls. IDS Top 36 Lane Index: U.S. Intermodal Rates Full-size chart An index of 36 major U.S. intermodal lanes dropped 1.7 percent or $38 from the week before to $2,138 in the week of May...
Tony Bikhazi Named Chairman of SPARX Logistics HONG KONG - SPARX logistics, a rapidly expanding international transportation and logistics company based in Hong Kong, proudly announces that Tony G. Bikhazi has agreed to become its Chairman. Mr. Bikhazi brings over 45 years of experience in the global transportation industry, including 20 years with Globe Express Services (GES), from which he retired...
Chemical Demand Pushes Up Pay for Tank-Truck Drivers Rising U.S. chemical output and strong shipping demand mean higher pay for tank-truck operators at Schneider National, the second-largest U.S. truckload carrier. The company yesterday said it would raise pay for company-employed tank truckers by 8 to 10 cents per mile. That translates to an average increase of $4,000 a year...
Danaos Optimistic on Impact of Carrier Mergers, Alliances Danaos Corp. is optimistic on prospects for the ship charter market as ocean carriers look to mergers and acquisitions and alliances to manage their costs and gain economies of scale. Danaos CEO John Coustas said the containership charter market remains "challenging" - the company's net and operating revenue both shrank in...
Lufthansa Cargo to Expand Express Products in Flat Air Cargo Market Lufthansa Cargo said it will expand its "lucrative" express products business in 2014 as first quarter profit declined 25 percent year-on-year in a stalling global air freight market. The slide in operating profit to €21 million ($29.2 million) from €28 million ($38.9 million) in the same period in 2013 was primarily...
TSA Carriers Plan Westbound Rate Hike for Meat, Poultry In anticipation of stronger exports to Asia and limited refrigerated capacity, carriers in the westbound Pacific intend to increase their rates on beef, pork and poultry shipments $700 per 40-foot container effective July 1. The 15 member lines of the Transpacific Stabilization Agreement Westbound section, in a release yesterday, said several...
Creditreform sets Rickmers rating to "B" Hamburg, 6 May 2014 - Rating agency Creditreform has, after the routine review, updated the rating of Rickmers Holding GmbH & Cie. KG, parent company of the Rickmers Group of shipping companies. The former company rating was "BB (watch)". After the publication of the annual report for the financial year...
Carriers Ready Surcharges in Case of US West Coast Disruptions Hapag-Lloyd at the weekend informed its customers that it will be prepared to levy what could be large congestion surcharges on shipments to and from the United States in the event that work stoppages occur during West Coast longshore contract negotiations this summer. Negotiations between the International Longshore and Warehouse Union...
NVGS on the up The rapid expansion of Navigator Holdings and its fleet of handysize LPG carriers appears to have paid off.
Matson falls in the first Matson turned in a first-quarter profit Tuesday but the result was lower than what it carded 12 months prior.
Skaugen sees red IM Skaugen took a beating in the first quarter but continues to believe it is well positioned to cash in on a rebound in the LPG segment.
EOC in the money An affiliate of Ezra Holdings has secured employment for one of its offshore accommodation barges.
Badger cleaned up A veteran coal-powered US ferry has gone greener with new combustion controls.
Forland takes over Norway's Forland Shipping is buying the remaining 25% in Forland Subsea from Havyard Ship Invest.
Scorpio selling baby bonds Scorpio Tankers has revealed plans for a baby bond issue to boost its cash reserves.
Seanergy in the clear Greek bulker owner Seanergy Maritime Holdings will retain its Nasdaq listing after meeting the exchange's rules on shareholders' equity.
Iran navy saves tanker The Iranian navy has foiled a pirate attack on a tanker in the Red Sea.
OSG stock surges on new plan Overseas Shipholding Group saw its equities race ahead yesterday after it changed horses on a restructuring effort.
Eide's Brazilian bounty Norway's Eide Marine has clinched a charter to Petrobras for an offshore vessel capable of accommodating 750 workers.
Danaos ships out three Danaos Corp of Greece has confirmed the sale of three of its older boxships in deals running to almost $35m.
Sewol sister sale fails South Korea's Chonghaejin Marine has so far failed in an attempt to sell a sister of the tragic ferry Sewol.
Finnlines squeaks into profit Ro-pax owner Finnlines has benefited from efficiency measures as it posted a profit in the traditionally weaker first quarter.
Siem JV orders in Poland A Siem Offshore joint venture has ordered an anchor handler newbuilding in Poland to meet a newly-signed period contract with a consortium including ExxonMobil.
CPC exports rise Caspian Pipeline Consortium (CPC) has seen crude exports rise in the first four months of 2014.
Probe into tanker 'escape' Malta has opened an investigation into claims a Ukrainian aframax left port after an arrest warrant was issued.
Brodsky builds Genco stake A shareholder who fought against Genco Shipping & Trading's restructuring plan has lifted its position in the company.
Maisie mission complete The safe salvage of the stricken chemical tanker Maritime Maisie has been completed in the port of Ulsan, Korea.
Goldenport shifts focus Goldenport Holdings has trimmed its first quarter red ink and has stated an aim to boost its dry cargo exposure while reducing its boxship fleet.
PACD makes strong start Pacific Drilling, the Idan Ofer-controlled company, has made a strong start to 2014 with a 47% jump in earnings.
'Two shot' on tanker Thai police are hunting a tanker captain suspected of shooting dead two crew before escaping with cash.
Tugs bring Fedje in A Norwegian bulker which suffered mechanical problems off Scotland has been brought into port by a tug.
Wilson seals PSV deal Brazil's Wilson Sons has won a deal to build two platform supply ships (PSVs) for charter to Petrobras.
Fredriksen takes Titan haircut Three John Fredriksen-related companies have agreed to accept haircuts on debts held by Titan Petrochemicals.
Rickmers raises SGD 100m Rickmers Maritime Trust (RMT) has raised SGD 100m ($79m) from a three year bond issue, the company has confirmed.
Danaos sees weaker start Danaos Corp has made a weaker start to the new financial year with declines in both profit and revenues.
IATA to enpanel group to examine Malaysia flight Calling the disappearance of Malaysia Airlines flight 370 an "unprecedented tragedy," Tony Tyler announced that IATA would be putting together a task force to look into the flight's disappearance.
Washington Notebook: Oberstar's legacy shines
FAA launches second drone-testing site Three weeks after starting tests at the first of six research sites for unmanned aircraft systems, the Federal Aviation Administration has begun operations at the University of Alaska Fairbanks.
Calif. truck supplier works with Niger government
Shipco adds LCL service from L.A. to Costa Rica
K+N adds CFS in Cambodia
Norbert Dentressangle expands in France by acquisition
PSA lands Mumbai port concession
AWT adds voyage calculator for customers
China lifts ban on Va. poultry imports Chinese authorities have rescinded a 6.5-year import suspension of poultry from Virginia, according to the U.S. Department of Agriculture and Gov. Terry McAuliffe's office.
TSA carriers plan higher rates for Asia-bound meat, poultry
Justice reaches agreement with Penske over terminated airman
NY/NJ job fair targets veterans The New York Shipping Association, the ILA and American Legion will hold a job fair focused on hiring honorably discharged veterans for port jobs in the Port of New York and New Jersey.
Prices on downward path in Fujairah Suez market soft.
Prices mainly soft across Europe Avails of LS material improving in Rotterdam.
Fuel oil arbitrage volumes down year-on-year Traders say ongoing refinery maintenance is putting pressure on Asian fuel oil markets.
Voyage 'cost calculator' takes ECA impact into account AWT has developed an on-line 'Voyage Calcultor' to improve predictions of the likely cost of any given voyage.
Major retailer backs 'short-sea shipping' Tesco says a switch from land-based transport to short-sea shipping has saved it $418,000 on one route alone.
Singapore bunker market softens Hong Kong, Busan, and Tokyo Bay were closed for a holiday.
'Eco' emulsion fuel undergoing sea trials Long term aim is achieving lower fuel costs while significantly reducing pollutants, company tells Bunkerworld.
Cosco streamlines fuel consumption in fleet Disposed total of seven vessels in April to improve 'oil saving level'.
Lukoil-Bunker starts supplying to west Russian river ports Move marks the start of the 2014 shipping season.
Titan settles debt with creditors Settlement payment sees creditors get 10% of agreed claims.
Buckeye quarterly profits climb Stronger fuel oil demand in the Caribbean helped drive growth.
LR: No 'one size fits all' future marine fuel Multiple fuel policies could exist within an operator's fleet.
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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