Cobham's Survivor+ seals LR approval Classification society Lloyd's Register has granted a certificate of compliance to Cobham for its new wearable personal overboard survival system, Survivor+, after it met the performance standards required under the IMO Life-Saving Appliance (LSA) Code, Section II. Cobham said its product was so
Union calls for more Kenyan seafarers The Seafarer Union of Kenya (SUK) has called on the government to back a campaign to recruit more Kenyans for the shipping industry. "Once there were at least 10,000 seafarers working in ocean-going vessels worldwide. Today, barely 100 Kenyan seafarers are employed at sea," SUK secretary-general
Western Bulk powers to profit Norwegian dry bulk shipping company Western Bulk, which went public in Oslo in 2013, powered to profit in 1Q14 and predicted that freight markets would continue to strengthen. The group's net profit amounted to $5.5M in 1Q14, compared with a loss of $1.5M in the same period last year. Revenues
Cargotec secures €50M loan for Pusnes purchase Finnish maritime cargo equipment maker Cargotec has secured an eight-year €50M ($69.6M) loan from the Nordic Investment Bank to finance the €180M purchase of the Aker Solutions Pusnes brand by its MacGregor business unit. The deal was agreed last July and was finalised at the end of
McMurdo extends SAR offering McMurdo Group, which specialises in end-to-end search and rescue (SAR) and maritime domain awareness (MDA) solutions, has bought Techno-Sciences (TSi) for an undisclosed sum. McMurdo said TSi's offering of SAR satellite ground stations, integrated emergency response centre systems, and coastal
Mild winter eases ESL Shipping to strong Q1 The Finnish conglomerate ASPO reported a healthy bottom line for its Q1/14 results, mainly thanks to its ESL Shipping subsidiary, which transports dry bulk in the Baltic. Of ASPO's €108M ($150M) turnover for this period, which showed a drop in figures of €4.3M, compared with the same
BLG hit by dwindling ro/ro cargo margins BLG Logistics, one of Europe's largest terminal and intermodal operators for finished vehicles and high value and heavy cargoes, suffered a severe drop in earnings last year. The German company's pre-tax result slumped by more than half to €20.2M ($28.1M), despite rising cargo handling
McMurdo acquires Techno-Science UK-based McMurdo Group has completed its acquisition of the American company, Techno-Science, a provider of SAR satellite ground stations, integrated emergency response centre systems and coastal surveillance solutions. TSi is involved in the next-generation COSPAS-SARSAT system and MEOSAR (Medium
Tokyo MOU report highlights key detention causes Member authorities of the Tokyo MOU inspected about 70% of vessels that visited ports in Southeast Asia and the Pacific last year, according to the organisation's recently released annual report for 2013. The organisation, established to oversee port state inspections in the Asia-Pacific region,
Yangfan secures Schulte box ship options Chinese shipbuilder Yangfan Group has secured an order for four container ship options from German owner Bernard Schulte. Delivery of the four 2,339teu vessels is scheduled for 2Q16 and 3Q16, with the German shipowner now having a total of 12 on order. The original order of four was placed in
DSME secures Shandong VLGC options Daewoo Shipbuilding and Marine Engineering (DSME) has secured an order for two very large gas carrier (VLGC) options from Chinese shipowner Shandong Shipping. The two 84,000m³ vessels are scheduled for delivery in 2H16 and estimated to cost about $80M each. These latest two newbuildings are part of
New JV to supply offshore equipment to Middle East A new joint venture company is to supply offshore equipment for rent and sale. OEG Unique, set up by Unique Maritime Group and OEG offshore will be based in Qatar and the UAE. The new company will have access to OEG's DNV-certified designs for cargo carrying units, as well as its A60 offshore
Vessels collide in Sunda Strait The Chinese-owned vessel Qi Hang collided with the Indonesian-owned vessel Marisa Nusantara in the Sunda Strait on 3 May. The Qi Hang was on route from the Falkland Islands to Kaohsiung, Taiwan, while the ro-ro passenger ship Marisa Nusantara, carrying 47 vehicles and 85 passengers, had departed
GPPL's profit jumps 73% in Q12014 APM Terminals-owned Gujarat Pipavav Port Ltd (GPPL), which operates India's first private port, on Tuesday (6 May), reported a 73% year-on-year increase in net profits during the first quarter of 2014 to Rs61 crore ($10.2M), up from Rs35.4 crore ($6M). During the quarter, net sales stood at Rs156.2
Jakarta-Canberra tensions defused Indonesian authorities today clarified that a tow back operation at the centre of renewed bilateral tensions between Indonesia and Australia involved two boats intercepted in Australian waters. The Australian Navy transferred everyone to the larger fishing vessel before it was forced back, according
ECSA pledges to help Philippines on STCW European shipowners' body the ECSA said today, (May 7), that it would make every effort to ensure that the European Union did not derecognise the Standards of Training, Certification and Watchkeeping (STCW) certification of Filipino seafarers. The organisation, the European Community Shipowners'
SembMarine's revenue rise suggests recovery Sembcorp Marine's (SembMarine) latest 1Q14 report suggests a core margin recovery as revenue ramped up with more projects reaching initial recognition. SembMarine's 1Q14 net profit generated SGD122M ($97M), up 3% year on year, while its turnover recorded a double-digit increase of 27% to SGD1.3Bn.
Drewry: Mid-May GRI to Give Rates 'Brief Uplift' Drewry's Hong Kong-Los Angeles Container Rate Benchmark Full-size chart The Drewry benchmark rate for shipping from Hong Kong to Los Angeles was flat this week, but the analyst anticipates a short-term boost around the general rate increases planned for mid-May. The Hong Kong-to-Los Angeles rate was flat in the week of May 7,...
US Retailers Expect Slowing Growth in Containerized Imports With a cautious eye on the West Coast longshore contract negotiations that will begin on May 12, U.S. retailers expect containerized imports in May to increase 3.5 percent over May 2013, with year-over-year growth tapering through September. "We're expecting a lot of cargo to move through the ports this summer, and...
Shifting Capacity Puts Pressure on Asia-West Africa Trade Recent changes in the Asia-West Africa lane have resulted in increased capacity, putting further pressure on freight rates. Within the last couple of months, Maersk Line, Safmarine, CMA CGM and Delmas have launched cooperation spanning five services; NileDutch and PIL have merged two of their services; and MSC has launched their...
Excess Capacity Likely to Restrain Air Freight Pricing Excess capacity and competition will keep pressure on pricing for air cargo carriers despite stronger growth. Hong Kong-based Cathay Pacific and its sister airline Dragonair saw cargo and mail tonnage rising almost 14 percent year-on-year to 155,352 tons in March, on the back of strong Asia-U.S. volumes. A new freighter service...
Worsening Tardiness in Europe Ship Arrivals From Asia Asia-to-Europe container shippers with tight supply chains are finding that ships are increasingly arriving late versus published schedules. More than 40 percent of vessels arriving from Asia at key European ports were more than 24 hours late, while more than 61 percent of vessel arrivals were more than 12 hours behind...
Tight 1Q Truckload Capacity Points to Higher Prices JOC Truckload Capacity Index Full-size image The JOC Truckload Capacity Index rose slightly in the first quarter but stayed close to a record low, foreshadowing upward pressure on truckload pricing in the second quarter. The index climbed to 81 in the first quarter, up 1.2 percentage points from a fourth quarter reading of...
Dachser, a Top 10 Global 3PL, Adopts CargoSphere System Chapel Hill, North Carolina, May 6, 2014 - CargoSphere, the leading, cloud-based global rate management solution and confidential Rate Mesh Network for the ocean and air transportation and logistics industries, today announces the completion of Dachser's global implementation of CargoSphere's contract and rate management solutions. CargoSphere worked with Dachser technology...
Sana International Inc. and J. Canavati & Co. LLC Announce Joint Venture and Appointment of Agent in Hong Kong Sana International, Inc., an export management company and J. Canavati & Co. LLC., a company that specializes in the development of international logistics and trade have formed a joint venture partnership in the development of new international markets for U.S. exports. Both firms are located in San Antonio, Texas. "We are...
US Containerized Footwear Imports Plunge U.S. containerized footwear imports were down 22.4 percent year-over-year last quarter. Full-size chart U.S. containerized footwear imports plunged 22.4 percent year-over-year in the first quarter of 2014, according to statistics compiled by PIERS, the data division of the JOC Group. This was the largest year-over-year decrease in footwear imports since before the economic...
Moody's upgrades U.S. Shipping Corp; CFR to B3, stable outlook $220 million first lien term loan due 2018 upgraded to B2 New York, May 05, 2014 -- Moody's Investors Service raised its ratings assigned to U.S. Shipping Corp ("USSC"): Corporate Family Rating (CFR) to B3 from Caa1; Probability of Default Rating (PDR) to B3-PD from Caa1-PD; and first lien senior secured...
Norbert Dentressangle's freight forwarding division seals ASUS contract renewal Norbert Dentressangle's fast-growing freight forwarding division has secured a major contract renewal with ASUS, a leading vendor of tablet and notebook computers and the world's No. 1 manufacturer of computer motherboards. Employing more than 12,500 people worldwide, ASUS is a $14 billion enterprise which designs and manufactures a wide range of...
FMC Rejects Maher Terminals Lease Complaint Maher Terminals has failed to convince a Federal Maritime Commission administrative law judge that the Port Authority of New York and New Jersey violated the Shipping Act by granting a more favorable lease to competitor APM Terminals. FMC Administrative Law Judge Erin M. Wirth dismissed Maher's claim that the port authority...
Matson Bullish on Hawaii Trade Continuing improvement in the Hawaiian economy should lead to modest growth in the Hawaii trade this year, according to a container carrier serving the islands. Matson Inc., a major shipping line in the Hawaii-mainland trade, remains bullish on the market, despite drops in its operating income and earnings during the first...
Baltic Trading narrows loss US bulker operator Baltic Trading failed to turn a profit in the first quarter despite rising freight rates and a surge in revenue.
Post-panamaxes deploy CMA CGM is moving forward with a campaign to upgrade a service that provides West Africa with a direct link to China.
Asian carriers unite SITC Container Lines (SITC) has forged an alliance with Shanghai Hai Hua Shipping Co under a broader bid to weather the downturn in the containership market.
Canal group to file claim The consortium building the expansion of the Panama Canal has threatened to file a claim for additional cost overruns associated with a nationwide construction workers strike.
Navios seals VLCC sale Navios Maritime Acquisition Corp of Greece has sealed the sale of an ageing VLCC.
USSC upgraded Ratings agency Moody's has upgraded tanker owner US Shipping Corp (USSC).
NNA fixes new MR Greece's Navios Maritime Acquisition (NNA) has fixed out a new MR2 for two years in a profit-sharing deal.
Scorpio aims for $50m Scorpio Tankers has revealed it will sell $50m of its latest notes to raise money for working capital.
DHT in $49m deal DHT Holdings has expanded its VLCC fleet with the addition of a ten-year-old vessel.
Death sentences upheld Two former Vinalines executives have failed in their bid to overturn death sentences for fraud.
DIS slips to loss Italy's d'Amico International Shipping (DIS) has fallen to a loss in the first quarter as costs rose in weaker markets.
Burning ro-ro adrift The crew of an Italian ro-ro that caught fire in the Gulf of Aden have been rescued by the Chinese navy.
Great Eastern rises India's Great Eastern Shipping has increased its annual profit as costs were cut and revenue rose.
Loan losses cut German lender Commerzbank has reduced its loan losses in the first quarter, as profit rose.
Mipo slides to loss Korean shipbuilder Hyundai Mipo has fallen to a first-quarter loss as operating margins shrank.
Evergas doubles up Jacques de Chateauvieux's Evergas has doubled its orderbook of LNG-ethane multigas carriers at China's Sinopacific Offshore & Engineering.
Western Bulk better in Q1 Western Bulk has seen its first quarter profit eclipse its full year 2013 earnings in a difficult market.
DSME inks VLGC double South Korea's DSME has won an order for two VLGCs worth $160m.
Hanjin in poor start Hanjin Heavy Industries reported a KRW 25bn ($24.4m) loss for the first three months of 2014 in figures released Wednesday.
Zaliv in the red Crimea's Zaliv Shipyard has revealed a loss for 2013 as revenue shrank.
Gati gets better Indian feedership and logistics group Gati has posted an 83% jump in net profit for the third quarter.
Atlantic orders liftboat Atlantic Navigation Holdings has ordered a new self-propelled self-elevating liftboat vessel as part of its expansion efforts.
Bay building barges Bay Shipbuilding Company (BSC) of the US has won a new contract to build barges for Moran Towing.
Standard building book UK lender Standard Chartered is to grow its $5.5bn shipping portfolio this year as markets recover.
Chowgule opens yard India's Chowgule Group has teamed with the UK's HSOG to set up a new repair yard.
OSC in Duqm deal Oman Shipping Company (OSC) has pledged to repair and maintain its fleet in Oman as far as possible.
Floatel eyes cash influx Floatel International looks set to raise substantial funds to either refinance existing loans or to help fund two newbuildings.
GasLog MLP goes high GasLog Partners has priced its initial public offering (IPO) in the US at the top of its indicated price range.
Boskalis eyes monster Royal Boskalis Westminster has unveiled plans for a new bigger ultra large V-class heavy marine transport vessel (HTV).
New IATA cargo head announced 'soon' A little more than a month after Des Vertannes announced his retirement, there has been no word of his replacement, but IATA Director General Tony Tyler pledged that "we will let the world know soon."
EU releases summary of UPS-TNT merger decision The European Commission has released the summary of its Jan. 30, 2013, decision that found a proposed takeover by UPS of TNT Express to be "incompatible with the internal market" and was not in the best interest of European consumers.
COSCO, MOL, Evergreen to launch Asia-West Africa service COSCO Container Lines Co., MOL and Evergreen Line will launch a new weekly, direct service from Asia to West Africa, called the WA1, COSCO announced Wednesday.
Maersk consolidates transatlantic services
Matson shows sharp profit decline in March
Dachser to use CargoSphere rate platform
MarAd strategy session aimed at boosting U.S.-flag fleet
NY/NJ governors seek port authority study The governors of New York and New Jersey have created a panel to "review the operations and procedures of the Port Authority of New York and New Jersey."
Scrubbers 'difficult to monitor' for compliance UK consultation raises concern about how to check that scrubbers are actually being used.
IFO prices firm in Fujairah Holiday in South Africa.
Avails tight in Rotterdam Lack of blending components keeps LS products tight in Dutch hub.
European shipping sector 'needs help to survive' 'Soaring fuel costs are forcing shipowners to upgrade their fleets and reorganise their ship operations.'
Environmental reporting initiatives seek to offer 'one-stop-shop' Merger would create uniform set of environmental benchmarking tools, meanwhile they will be more closely aligned.
Timing of bunker surcharges hits Q1 profits Matson Inc sees Q1 profits fall.
Asian price trends 'mixed' 'Quiet' to average demand seen in Singapore.
European ferry operator springs back to profit Company confident it can mitigate higher cost for ECA operations through efficient fleet.
New Florida-based staff at Glander International Bunkering Justin Sander joins firm as bunker and lubricant broker & trader.
Vessel hybrid system gains investment support Capital will allow Corvus to fulfill 'future potential', says Chairman.
India seeks backing for coastal shipping development Proposes to raise funds via the Global Environment Fund.
Trumf Bunker welcomes new Managing Director 'No doubt' that Goldenbeck will be an asset to the firm.
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