Dredging to resume at Taranto Dredging work at Taranto's multipurpose quay is to resume after a lawsuit brought by a contractor excluded from a tendering process was dismissed by an Apulian regional court. Taranto has a strategic location in the heel of Italy for Mediterranean container trades but cargo expansion has been
Deep Sea Mooring targets FPSO market Deep Sea Mooring (DSM) will open a new business in Singapore to offer subsea installation solutions in the key regional markets of Asia, West Africa and Europe in a bid to target the FPSO segment. The new business will be called Deep Sea Installation (DSI). "The FPSO market is growing fast, with $99
Broadband capacity extends to offshore KVH Industries has doubled the capacity of its mini-VSAT broadband network in the oil- and gas-rich areas off the West African coast, where maritime traffic and customer demands are surging. The additional capacity will address the demand created by offshore vessels. The capacity increase follows a
Sinopacific wins Ocean Yield ethylene carriers China's Nantong Sinopacific Offshore & Engineering, a subsidiary of the Sinopacific Shipbuilding Group, has won an order from Norwegian shipowner Ocean Yield for three liquefied ethylene gas (LEG) carriers. The three 36,000m³ vessels are scheduled for delivery in August, October and December 2016.
Container technologies boost ocean trips Innovative container technology on ships is playing a role in significantly changing the mode of transport that businesses use to move cargo from air to sea, according to a new study. Transportation consultancy Seabury found that around 100,000teu per year is transported by ocean carriers instead of
D'Amico hit by harsh US winter in Q1 Product tanker operator d'Amico International Shipping (DIS) slipped into loss in the first quarter of 2014 in a market that the company said had been weaker than expected under the impact of seasonal factors. The company registered a net loss of $6.8M after a $3.2M net profit in the first quarter
EU ministers want new shortsea push European Union transport ministers have called on the European Commission and EU member states to launch a new push to promote shortsea shipping. The call occupies pride of place in the Athens Declaration, which was issued yesterday following an informal ministerial meeting devoted to EU maritime
ABS to classify PFLNG 2 Classification society ABS has won the contract from Petronas, Malaysia's national oil company, to class the company's second floating LNG facility (PFLNG 2), for which it will also provide technical services. PFLNG 2, which will have an LNG production capacity of 1.5M metric tonnes per year, will
New production floaters amount over $9B in 2Q14 The orders for construction of floating production system have rocketed to over $9B in contracts in 2Q14, according to Energy Maritime Associates. The orders comprise of eight production floaters and two floating storage and offloading units, which have been ordered to date: three large converted
Difficult conditions take toll on Sewol rescuers Bad weather and strong currents have begun to take their toll on divers working to recover missing passengers of the Sewol ferry. In a press statement released today, South Korea's Ministry of Oceans and Fisheries said that last night, around 20.20 South Korea time, a member of the Incheon Coast
Chonghaejin CEO arrested over Sewol The CEO of the company that owned the ill-fated Sewol ferry was arrested today. Prosecutors confirmed with IHS Maritime that Kim Han-Sik, who headed Chonghaejin Marine, was arrested at his home on suspicion of manslaughter and violating maritime law. The arrest came after the regular captain of the
Low vessel prices 'would mean loss for HMD' Hyundai Mipo Dockyard is expected to post a loss for 2014 and a turnaround is unlikely unless vessel prices move up, said a shipbuilding analyst today. HMD, a Hyundai HI subsidiary, posted a net loss of KRW38Bn ($37M) for 1Q14 yesterday, reversing a KRW15Bn profit in the same period last year.
Competition increases on China-Japan routes Chinese shipping companies have intensified their competition on the China-Japan trade routes by forming two co-operation groups. On 6 May, SITC Container Lines, a wholly owned subsidiary of SITC International Holdings, and Shanghai Hai Hua Shipping, a wholly owned subsidiary of Shanghai
NYK fixes charter contract with TEPCO NYK Line has ordered an LNG carrier against a charter contract with a subsidiary of compatriot Tokyo Electric Power Company (TEPCO). Japan's second biggest shipping company, led by Yasumi Kudo, said today that the ship, to be ordered from MI LNG, will be chartered to TEPCO unit LNG Marine Transport.
Sewol prosecutors clear captain of incident link Prosecutors probing the capsizing of the ferry Sewol have said there is no link between the 16 April disaster and a previous incident involving its captain. A press statement released by South Korea's Ministry of Oceans and Fisheries says that Lee Joon Seok was steering the Ohamana on 6 April, 2011
Intellian launches x60 terminal Shipowners and crew will be able to enjoy faster internet connection onboard ships with Intellian's x60 terminal which will connect to Inmarsat's Ka-band Global Xpress (GX) service that is scheduled to start later this year. "The x60 uses the dedicated Intellian Aptus software for system control and
Net additions to Capesize fleet come to nothing There were no net additions to the Capesize fleet in April as the number of newbuilding deliveries equalled that of demolitions. Six Capesizes were delivered while six were demolished, according to IHS Maritme's Sea-web data. Current time-charter rates stand at $12,874/day, which is good enough for
Panama Canal Expansion Work Set to Resume Following Strike Construction workers in Panama ended a two-week nationwide strike today, allowing the expansion of the Panama Canal to resume, Reuters reports. The workers, represented by the Suntracs union, reached a collective bargaining agreement with the CAPAC employers association that ensures salary increases over the next four years, ending the strike that...
US Maritime Industry Sees Red Sky Both Morning and Night The U.S. maritime industry is experiencing two trends - one promising and the other much less so. How the industry and the federal government craft a policy and implement it to harness shipbuilding momentum and aid the ailing Merchant Marine will determine whether the so-called rising tide does indeed lift...
Bill Would Force CBP to Give Trusted Traders Measurable Benefits WASHINGTON - Sen. Orrin Hatch, R-Utah, said he is pushing legislation that would force U.S. Customs and Border Protection to provide measurable benefits to members of trusted trader programs and would require other federal agencies to speed cargo clearance at ports of entry. However, the legislation, known as the Trade Facilitation...
Tough Road Ahead for Freight Forwarders Profits in international forwarding are becoming increasingly squeezed as competitors drop prices to gain volumes and as underlying rates remain weak due to overcapacity and slowing growth in both ocean and air markets. "The forwarding market now has a lot of large players whose growth rates have slowed," Stifel Nicolaus wrote...
New Trend for Truckload Spot Rates: Down DAT U.S. national dry van spot rates have given up all their first-quarter increases Full-size chart Spot market truckload rates for dry van tractor-trailers tumbled in April after rocketing in the first quarter, falling to levels last seen New Year's Eve. The plunge from a high of $2.10 per mile March 29 to...
Cass: Freight Spending Hit 15-Year High in April The second quarter began with a bang for truckers and a pang for shippers, as freight volumes and shipping costs rose sharply in April, according to the Cass Freight Index. The Cass index, which measures freight volumes and shipper spending, suggests trucking hit a reset button in the first quarter, with...
Obstacles Cited in Study on US West Coast Feeder Potential Domestic U.S. waterborne transportation for containerized cargo has failed to find a substantial market, but that has not stopped the federal government from pressing ahead with studies exploring the quixotic idea. A just-released study says a service along the U.S. West Coast is potentially viable but faces multiple hurdles. The nearly...
Air to Sea Shift Expands Ocean Reefer Market by 10 Percent A trend in shipping from air to ocean that has cost the air cargo industry 2 percentage points of average annual growth since 2000 has now resulted in a meaningful expansion of the ocean reefer market, but only a miniscule increase in total container volumes. According to a new report from...
DNV GL Acquires Marine Cybernetics Houston, 7th May 2014: DNV GL, the world's leading ship and offshore classification society and one of the world's leading technical risk service providers, has acquired Marine Cybernetics, the leading company for third-party testing of computer control systems. The acquisition expands DNV GL's scope of services in the offshore and...
JOC Port Productivity Seminar 2014 The JOC Group Inc. is launching its second Port Productivity Seminar to address what is arguably the most complex yet most important node in the container supply chain. With over 130 attendees in 2013, once again, this seminar will examine strategies, technology and practices throughout the container terminal, including the...
MOL, Evergreen, Cosco to Launch Asia-West Africa Service MOL, Evergreen Line and Cosco Container Lines plan to launch a direct weekly service from Asia to West Africa in June. The jointly operated service, branded the WA1, will employ 12 vessels, with six of the ships being operated by MOL, four by Evergreen and two by Cosco. The port rotation for...
Slower BNSF Intermodal Transits Give UP Opening Union Pacific Railroad appears to be taking advantage of shippers' frustrations with BNSF Railway service between the Pacific Northwest and Chicago - one of the busiest North American intermodal lanes - by launching its own service between Portland and Chicago. Increased traffic on the rails, including non-intermodal shipments tied to the...
TPM 2014 Sponsored Video: Prince Rupert Port Authority Don Krusel, Prince Rupert Port Authority president/CEO, speaks about competitiveness, labor relations and plans for expansion....
DNB on the mend Norway's biggest bank has seen signs that the health of certain segments of the shipping industry will continue to improve in the months ahead.
Take two Ocean Yield of Norway has firmed up a $90m contract to acquire a pair of pure car/truck carriers.
Katzeff bolts UBS UBS lead shipping analyst Joshua Katzeff has jumped back to former employer Detusche Bank, but not in an analyst's role.
Skuld profit boost The Skuld marine insurance group continued to grow last year with profitability also improving compared to the last couple of years.
Kang to stand trial STX group founder Kang Duk-Soo has been charged with embezzlement and business malpractice as his shipping and shipyard empire crumbled.
Crewman airlifted The US Coast Guard has winched a seafarer to safety from a KG Jebsen OBO off Florida.
Meyer makes Turku move German shipbuilder Meyer Werft is in talks to buy STX Europe's Turku yard together with the Finnish government.
TIL seals $250m deal Oslo-listed Teekay spin-off Tanker Investments (TIL) has bought two VLCCs and two aframaxes for $249m as it splashes its IPO cash.
Knightsbridge nets club deal Knightsbridge Tankers has secured club financing running to $330m for a number of capesize newbuildings taken from Frontline 2012.
Zim links with G6 Israel's Zim has deepened ties with the G6 group of container lines with a new cross-Pacific service.
Love at first sight? GasLog Partners' love affair with Wall Street has yet to go beyond a first date.
Belships' waiting game Norway's Belships is holding out for better terms to finance its three supramax newbuildings in Japan.
WB readies for rebound Western Bulk continues to prepare for an upturn in the dry cargo market despite delayed expectations of a rebound, its chief executive says.
Chowgule back in black Indian bulker owner Chowgule Steamship has been propelled to profit in the fourth quarter by a currency exchange gain.
Ferry torn open An Indonesian ferry has been severely damaged in a collision with a Chinese reefer.
Cerberus in at DHT Stephen Feinberg has emerged as the latest investor to buy into DHT Holdings.
Wilson falls short Norwegian mini-bulker operator Wilson has posted a narrow loss for the first quarter, with the operating result showing a strong improvement from last year.
Wilhelmsen in Q1 miss Wilh Wilhelmsen ASA has turned in a disappointing set in first quarter figures with its bottom line well short of expectations.
CSIC selling $1.1bn bond State-owned China Shipbuilding Industry Corp (CSIC) is plotting a huge CNY 6.8bn ($1.09bn) bond sale.
Ocean Yield goes gas Norway's Ocean Yield is moving into the gas carrier sector with an order for three new liquefied ethylene gas (LEG) ships in China.
Odfjell adds three Norway's Odfjell has revealed three new additions to its tanker fleet.
Sewol CEO detained Prosecutors in South Korea have detained the CEO of Chonghaejin Marine after the sinking of the Sewol ferry.
NYK orders LNG carrier NYK has ordered an LNG carrier newbuilding on the back of a long-term charter from Tokyo Electric Power Co (TEPCO).
Odfjell results deteriorate Odfjell has seen its financial performance go from bad to worse with a $29m loss in the first quarter of 2014.
Finnlines cleans up Finnlines has signed "extensive contracts" with two suppliers to fit exhaust gas scrubbers on most of its ro-ros.
Pan Ocean back in black Pan Ocean has reported its first profitable quarter since launching a major restructuring exercise.
Courage confirms sale Shipowner Courage Marine has confirmed that it has disposed of nineteen-year-old capesize for demolition.
Volume growth to slow Major US ports are forecast to see a slight slowdown in the growth of container volumes passing through their terminals this month.
DLPG pulls the trigger Dorian LPG is getting ready to put the power of its pedigree to the test on Wall Street.
GasLog Partners impresses It's unclear if investors are still hungry for tanker and bulker stocks but the performance of GasLog Partners on its first day of trading suggests Wall Street's appetite for shipowners with exposure to the LNG segment remains healthy.
HRZ stuck in red zone Horizon Lines turned in a fiscal first-quarter loss Wednesday despite rising volumes in two of its core markets.
ZIM adds Asia-WCNA service ZIM will launch a new service between Asia and the West Coast of North America beginning in mid-May, it announced Thursday, which it said will improve transit time and extend port coverage.
European aviation group calls for new flight location rules Reacting to the disappearance of Malaysia Airlines Flight 370, the European Aviation Safety Administration has called for extending the required transmission time on underwater locating devices by 60 days.
DHL rolls out LA helicopter service
Great Lakes ships honor Oberstar The Great Lakes maritime community will pay tribute to Former Rep. Jim Oberstar on Thursday, according to a press release from The Interlake Steamship Company.
DOT announces more precautions for crude oil trains The DOT on Wednesday issued an emergency order immediately requiring all railroads operating unit trains of 35 cars or more containing Bakken crude oil to notify state officials about the operation of these trains through their states.
ARTEMUS aids Japan with advance filing
LNG-powered container ships being built for European short sea operator
New quality concern for ECA operations Maersk among companies wary of risk from waxy distillates that can cause serious problems during winter operations.
Prices generally firm in Fujairah Mixed avails in Middle East hub.
Prices firm across Europe No barge congestion in Gibraltar.
Korean yards see orders slump But analysts say ability to build fuel-efficient ships gives South Korea competitive edge.
Fuel oil stocks down by 10% Biggest weekly fall so far this year.
Supplier makes its first delivery in US twin ports New appointments at OW Bunker North America.
Asian prices lacking direction Prices have softened in East Asian hubs.
Dan-Bunkering staff transfers to Middle East Transfer of Soren Emil Dam is part of career plan, says firm.
Tacoma sees progress with LNG bunkering plans Expects to receive lease agreement for proposed refuelling facility.
Higher Q1 losses for Horizon Lines But average bunker costs fell 5.5%.
Baltic ports want to make LNG bunkering reality Ports also looking to provide shore power.
Chinese fuel oil production down in April Low demand for bunkers, say sources.
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