Labour fears boost US box imports US container import volumes are rapidly escalating as retailers hedge against the chance of labour unrest at Pacific ports starting next month. The National Retail Federation (NRF) now predicts imports at major US container terminals will rise 7.5% this month "as retailers bring unusually high
Top Ships prices follow-on offering Evangelos Pistiolis-led Top Ships has priced a discounted offering of stock and warrants, garnering a third less proceeds than initially hoped. The NASDAQ-listed company priced 10M shares of common stock at $2/share and warrants to purchase 5M shares at $0.00001/warrant. The warrants have an
Svitzer enters Barbados towage sector An innovative deal between Svitzer Americas and Barbados Port Inc. (BPI) is being touted as a win-win for both parties. In small domestic markets, sensitivities can arise when the outsourcing of towage to a non-local party is proposed. The transaction in Barbados implicitly addressed any local
Bourbon in link-up talks with Tanjung Offshore French offshore vessel operator Bourbon is considering taking a stake in Malaysia's Tanjung Offshore as part of a two stage operation which will see it sell the Malaysian company the majority ownership of a number of its vessels. In a statement yesterday evening the French group said it was in
Sungdong wins Greek Suezmax order Korea's Sungdong shipyard has been contracted to build up to four Suezmaxes. A firm order for two ships with two options attached has been placed by Kyklades Maritime of Piraeus, Greece, with deliveries due from 4Q16. The 158,000dwt tankers are estimated to be costing more than $65M, which is close
Freight rate increases see limited success Spot freight rate increases by container lines at the beginning of May and June are enjoying only limited success, a senior shipping analyst has said. "Spot rates in May rose 5% on April, but [have since] been trickling down," said Jacob Pedersen, senior analyst at Sydbank in Denmark. "The rate
Bulker collides with fishing vessel off India Singapore-based Thome Ship Management has acknowledged that its managed bulk carrier Miletus collided with a fishing vessel off Calicut in India on 2 June. The 58,000dwt bulk carrier was owned by US-based Genco Shipping & Trading and was on its way to Bhavnagar, India before the incident happened.
Delay expected in Petronas CPP contracts bidding Delays are expected in the bidding process for Malaysia-based Petronas's fabrication of multiple central processing platform (CPP) in the integrated Bardegg 2 and Baronia enhanced oil recovery project, according to a CIMB analyst. The CPP for the project, off the coast of Sarawak, Malaysia, comes
Total to supply LNG to Pavilion Energy A subsidiary of Total Group (Total) has signed a 10-year LNG supply deal with a unit of Singapore's Pavilion Energy. Pavilion Gas has secured a total of 700,000 tonnes per annum (tpa) of LNG supply from Total Gas & Power Asia, a wholly owned gas and power trading company of Total, for 10 years
Call to end Australia's LNG 'warehousing' Australia's Fortescue has called on the the government to cancel unused LNG reserve retention leases in Western Australia. The miner last week released a report backing its push for a 'use it or lose it policy' on gas reserves, currently being 'warehoused'. FMG is seeking to source its own LNG as it
Australia calls for tenders for MH370 search The Australian Transport Safety Bureau (ATSB) yesterday warned that companies applying for the contract to scour the Indian Ocean seabed for MH370 wreckage should apply only via the Australian government tenders website. "ATSB cannot guarantee the authenticity or completeness of the material on
VLGC fetches record time charter A time charter for a very large gas carrier has been reportedly extended for two years at a monthly rate of $2.8M, an amount that industry sources believe is an all-time high. Brokers told IHS Maritime that Hamburg-based Neu Gas Shipping International's 2009-built Karoline N was chartered for
State-run Nanjing Tanker delisted China's state-owned Nanjing Tanker ended its 17-year listing in the Shanghai Stock Exchange, as it was delisted yesterday. The company is the first delisted company in China's stock exchanges in Shanghai and Shenzhen since the new delisting rules were proposed in 2012. Its share price closed at
Two more Sewol victim bodies found South Korea's Ministry of Oceans and Fisheries, which is coordinating the search for victims of the capsized ferry Sewol, announced today that the bodies of two male victims have been found. The discovery of the bodies comes 15 days after the last body was found, bringing the total death toll to
New terminal for Lianyungang Port LYG-PSA Container Terminal (LPCT) was officially opened in China's Lianyungang Port yesterday, marking PSA International's first venture into the Yangtze River Delta region. LPCT is a joint-venture between Lianyungang Port and PSA International. The terminal is expected to have a designed capacity
Chile's Valpara'so port boosts container-handling efficiency Chile's Terminal Pac'fico Sur Valparaíso has ordered three large ship-to-shore cranes from Liebherr Container Cranes to boost capacity, as recent changes in the shipping industry have sent larger ships to the region. Terminal Pac'fico Sur Valpara'so, the only terminal operator of the port of Valpara'so in central Chile, ordered three ship-to-shore...
Container lines' schedule reliability better, but still down Global container lines' schedule reliability increased for the second month in a row in April. Full-size chart Despite recent improvements, global container lines' schedule reliability and on-time container delivery have been worse every month so far this year versus last year, according to a new report from SeaIntel Maritime Analysis, as bad...
PSA opens its first terminal in Yangtze River Delta PSA International's first major investment in the Yangtze River Delta opened at Lianyungang Port this week, connecting the Singapore-based terminal operator to an intermodal network stretching across the continent and ending in Rotterdam. The LYG-PSA Container Terminal (LPCT) is the first collaboration between PSA and the Lianyungang Port Group and once...
New UPS CEO Abney faces e-commerce challenge David AbneyDavid Abney will face his first big test as CEO of UPS in December, when the largest U.S. transportation company must avoid a repeat of last year's holiday shipping debacle. A late-December surge in online shopping led to millions of late packages, irate customers and higher transportation and labor costs...
Weakening demand, sourcing shifts likely to restrain China's export growth Asia's export growth will bounce off the lows of 2012-13 and still be the envy of the world over the next five years, but it will pale in comparison with the country's export gains over much of the last two decades, according to a noted Asia analyst. Outbound shipments from Asia...
Pet products, accessories a booming business in China Not long ago, the only accessories a dog or cat owner needed to buy was a collar, a leash, bowl, maybe a fake mouse or a squeaky toy ball. These days in China, however, pet products are a serious and fast growing business. Retail sales of pet products reached $1.3 billion...
China's logistics sector struggles to meet pharma demand China's rapid urbanization, its growing middle class and improved access to health insurance is stoking massive investment in production and driving demand for logistics and distribution in the health care sector. A recent KPMG report indicated that at some point in the next 12 to 18 months, China will become the...
Trucking adds workers - but needs many more The JOC For-Hire Trucking Employment Index rose 96.8 in May. Full-size chart Trucking edged closer to recovering jobs lost in the recession last month, but rising freight demand means for-hire carriers will have to work harder to hire employees as the U.S. economy expands in 2014. The JOC For-Hire Trucking Employment Index rose...
Dockworkers plan June 10 start to strike in Brazil A nationwide dockworker strike is planned to begin on June 10 in Brazil, according to maritime services provider Inchcape Shipping Services. The strike, organized by the Union of Stevedores, is expected to affect stevedore operations in all ports across Brazil for an indefinite period and is predicted to cause considerable delays with...
Ocean carrier rate revision roundup for June 6 Numerous container lines have planned general rate increases in various trade routes to take effect July 1, although any gains achieved could be fleeting as overcapacity and sluggish global demand continue. The worldwide container ship fleet grew 6 percent in 2013, fueled by growth in the post-Panamax segment in particular ahead of the...
SCFI: Asia to Europe up, spot rates to US fall SCFI: Asia-North Europe spot rate stood at $1,183 this week. Full-size chart Spot rates from Asia to Europe were up for the first time in a month this week, according to the Shanghai Containerized Freight Index. The SCFI spot rate from Shanghai to Northern Europe stood at $1,183 this week, up 2.4 percent...
Forwarders concerned by US plans to expand air cargo screening The Hong Kong Association of Freight Forwarders and Logistics (HAFFA) has joined a coalition of global counterparts in calling for the U.S. federal government to seek input from small and midsize forwarders before expanding the Air Cargo Advanced Screening (ACAS) program. The program, which analyzes advance data on inbound air shipments...
Forwarders ask FMC for congestion surcharge clarity WASHINGTON - Customs brokers and forwarders are asking the U.S. Federal Maritime Commission to create procedures to help them better handle potential work stoppages at U.S. West Coast ports. Although the FMC in late May issued an advisory on possible port congestion surcharges levied by carriers, the tariff publications and announcements...
Manufacturing rebound sparks rapid growth at US Gulf ports The numbers look like typos: More than $100 billion in petrochemical manufacturing construction is under way or planned across the U.S., mostly in Texas and Louisiana. That's billion, with a "b," and it's a conservative tally. The final total could rise much higher. This frenzy of construction is a direct result...
APMT: Sister carrier gets equal treatment APM Terminals disputes suggestions that sister carrier Maersk Line benefits from lower terminal handling costs because of the companies' common ownership by Maersk Group. "It's a common misconception," Martin Gaard Christiansen, APMT's chief commercial officer, told the JOC. "We do have a close strategic relationship with Maersk, because they're the biggest...
Shippers urge EU to keep close eye on P3 The largest group of ocean container shippers is urging European regulators to keep a close eye on the three carriers involved in the P3 Network to make sure they don't abuse their "unprecedented market power." The trio should give the European Commission reports on service performance on specific port pairs and...
Allcargo Logistics' profit drops despite revenue growth Allcargo Logistics Ltd., India's leading international freight forwarder and port-based logistics provider, reported its group net income fell 14 percent in fiscal year 2013-14, which ended on March 31, 2014, from a year earlier to Rs. 149.33 crore (about $25.2 million) despite a big jump in operating revenue. Consolidated yearly revenue...
Contact lost with tanker The search is on for a Greek tanker that lost contact with its owner off Ghana on Thursday.
Bharati falls to loss India's Bharati Shipyard has slipped to a loss in the fourth quarter as revenue plunged.
HSH chops loan-loss German shipping lender HSH Nordbank has turned in first quarter profit after cutting loan-loss provisions.
Beautiful shipping We take a look at what was said in the market over the past week.
SCF earnings soar Russian state shipowner Sovcomflot (SCF) has been boosted by a recovery in tanker markets to post much bigger first quarter profit.
Brazil's $1.8bn boost Brazil's Merchant Marine Fund (FMM) has lined up funding worth BRL 4.2bn ($1.84bn) to build 110 new ships and upgrade three shipyards.
Faulty joystick blamed A faulty joystick has been identified as the cause of a near-fatal German ferry smash.
Lutheran liquidated Papua New Guinea's Lutheran Shipping has been liquidated by its owner, the Evangelical Lutheran Church.
Vroon fixes five Vroon Offshore Services in Aberdeen has fixed five ships for five years to a North Sea oil major.
Crew rescued from fire Two men have been rescued after their pilot boat caught fire while it was guiding a tanker from the Tay river in Scotland.
IFC wants its money Indonesian shipping company Trada Maritime is facing a demand from the World Bank for repayment of $31m.
Sincere slips again Sincere Navigation of Taiwan has posted lower first quarter profit despite rising revenue.
Arms sentencing due Panamanian prosecutors want an eight-year jail term for three North Korean crew accused of smuggling arms last year.
ABN Amro opens taps Dutch lender ABN Amro is building its shipping portfolio as the industry enjoys a fragile recovery.
Bourbon eyes Malaysia Bourbon has confirmed that it is in talks with Malaysia's Tanjung Offshore about a potential offshore support vessel (OSV) tie-up.
NATO extends Ocean Shield The western military organization said it will continue with operation Ocean Shield until the end of 2016.
TCC wins JBIC backing Tai Chong Cheang Steamship Group (TCC Group) has secured export credit finance for two panamax bulkers on order in Japan.
ORIG seals $1bn deal Ocean Rig has sealed a $1.3bn contract that will keep one of its newest deepwater drillships employed off Angola for six years.
Retail imports spike as ILWU deadline approaches "We don't want to see disruptions at the ports, but retailers are making sure they are prepared in case that happens," NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said.
Cargo thefts down 9%, first decrease since 2009
NCBFAA asks FMC for procedures to address port congestion
Amendment delaying some HOS rules passes Sen. Susan Collins is seeking to suspend the rule that drivers can't operate trucks between the hours of 1 a.m. and 5 a.m. for two consecutive nights, and the requirement limiting the 34-hour restart to just once a week.
UPS names Abney next CEO Current CEO Scott Davis, 62, will retire and assume the role of non-executive chairman. Abney will be the 11th chief executive in the company's history. He began working for UPS in 1974 as a part-time package loader.
Glyn Hughes named new IATA cargo boss Hughes, who replaces the retiring Des Vertannes, has been with IATA since 1991 and has been involved with the organization's most important cargo programs, including the Global Air Cargo Advisory Group.
Fuel prices in the Americas end week mixed Prices weaken in New York.
Weekly Global Market Report A weekly price roundup from bunkering hubs around the world.
'Slim arbitrage volumes' to keep fuel oil market firm Cargoes from the West may be diverted from Singapore to Fujairah, say traders.
Prices mixed in northwest Europe And generally soft across Mediterranean markets.
Prices firm in Fujairah IFO prices show little movement in Suez.
No plans for Singapore-style licensing in the Netherlands Rotterdam port authority nevertheless hopeful of lifting overall quality and reliability of bunker sector.
Brazil to build bunker tankers State-backed newbuild push includes bunker tankers and inland vessels.
'Eco-ships' offer 'significant return on investment' 'Eco-ships have more commercial flexibility with access to contracts not always available to conventional ships.'
Asian IFO relatively flat at week's end Below-average demand seen across key regional hubs.
Shipyard completes newbuild in under six weeks UK-based bunker and marine services supplier takes delivery of the Rix Lion next month.
Cabotage trades should remain protected, say shipowners Indian owners want level-playing field if sector opens to foreign flags.
Ship arrested in Saudi Arabia Crew accused of illegal diesel sales.
Vietnam's bunker industry moving forward Country's marine fuels sector is evolving, says General Director of bunker firm.
Chinese shipowner expands fleet with 'fuel-efficient' buys New vessels set to join fleet from next year.
US shipping firm buys 'upgraded' fuel scrubbers New system was launched in May.
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