Top Maersk and MSC duo in urgent talks with FMC on 2M alliance Senior executives fly to Washington as two commissioners say clock may be stopped on 45-day review
Is CMA CGM about to unveil new tie-up? Speculation grows about partnership with United Arab Shipping Co and China Shipping Container Lines
Russia's food sanctions having only limited impact on feederships Operators report reefer box volumes holding up
Philippe Ruttley joins Ince & Co Maritime antitrust specialist appointed head of competition at law firm
VLGC spot rates up as players turn attention to October loadings Market level sustainable for at least another month in LPG shipping
Scorpio scoops up ex-OSG management operation in Greece Experienced Athens operation to 'add value' as well as capacity for huge newbuilding wave
G6 Alliance continues to divert vessels from Rotterdam Decision suggests congestion woes are not over
Seaspan signs charter deal for 10,000 teu ships with top line Existing options extended
SMM 2014: seven obstacles to innovation in shipping When it comes to creating change, the hurdles may be high but they are not insurmountable
Aronnax@SMM: it's all systems go at Hamburg's innovation showcase FREE CONTENT: Manufacturers at the ready after equipment sales hit $70bn last year
UK and Germany lead July import-container rally North France lags behind as neighbouring ports post double-digit growth
Ince bulker suffers severe damage in grounding on Greek islet Owners hire Tsavliris for salvage under LOF
It's tough at the top for the big three European ports A look at the challenges being faced at Europe's premier container hubs
Rongsheng confirms government-initiated restructuring talks Cash-strapped Chinese yard offers few details despite reports of possible SWS takeover
Los Angeles wins grant to reduce port-related emissions Environmental Protection Agency awards $469,000 to retrofit cargo handling units
MCA defends UK port state control All-time low in detentions is evidence of improved safety, Coley insists
SMM 2014: The rise of asset improvement Annual project Pimp My Ship takes a serious look at the possibilities of fuel-efficiency tools
Wind is power New cleantech companies continue to develop, despite shipping-industry scepticism
SMM 2014: Wind is power New cleantech companies continue to develop, despite shipping-industry scepticism
Tanker Investments' $46m aframax buy highlights secondhand price hike As interest builds in aframaxes, expect more purchases and rising values
SMM 2014: Overcoming charterparty challenges Financing vessel upgrades to compete against clean new tonnage is difficult, but not impossible
SMM 2014: The risks remain with technology investment Hefty compliance and fuel-saving investments are boardroom-level decisions
Bharati Shipyard seeks to sell wind business India's financially-stressed shipbuilder Bharati Shipyard has put its wind turbine assets up for sale. The sale comprises 14 wind turbine generators (WTGs) that produce a combined 15 mega watts of power in the state of Maharashtra. "Since Bharati Shipyard is going through a process of corporate debt
Wärtsilä introduces new controllable pitch propeller Finland-based power supplier Wärtsilä today announced it will introduce its latest large controllable pitch propeller (CPP) system at the SMM exhibition and conference in Hamburg, Germany, which opens tomorrow. Based on the previous E-hub design, the new CPP system "offers greater efficiency,
Grimaldi buys into Livorno's Sintermar terminal The Grimaldi group has taken an indirect stake in port of Livorno container terminal operator Sintermar through an alliance with Livorno's Fremura shipping and port services group. The Naples-based group has used a capital increase to take a 50% stake in Fremura group company CO.I.FI srl, which has
Koa Sangyo secures small tanker pair Japanese shipbuilder Koa Sangyo in Marugame has secured two orders for small chemical tankers with one each for compatriot shipowners Genkai Kisen and Shinsei Kaiun. The 1,000dwt Genkai vessel will have an overall length of 62.72m and beam of 9.8m. The 1,300dwt Shinsei vessel will have an overall
Japan mulls patrol boats for Sri Lanka Japan is considering supplying patrol vessels to Sri Lanka's coast guard as part of measures to deepen maritime security co-operation, according to a statement on the weekend visit by Prime Minister Shinzo Abe. Japan, which helped Sri Lanka build its first container terminals, announced a "new
Iraq to sue Greek shipping company over Kurdish crude shipments Greek shipping company Marine Management Services (MMS) has said that it will defend itself against legal action planned against it by the Iraqi government for transporting oil from the Kurdish autonomous region of Iraq. Reuters reported that Iraq had claimed that five MMS-operated vessels had been
Damen bets on ballast water treatment boom Dutch shipbuilder Damen Shipyards said today that it had set up strategic partnerships with three major ballast water treatment suppliers. Apparently banking on early implementation of the IMO's long delayed 2004 ballast water management convention, the group said that it planned to make use of the
Speculation belies uncertainty in shipbreaking market Despite uncertainty over steel plate prices and demand for scrap steel, cash buyers continue to overpay to recycle ships in India and Bangladesh, just to keep up with Pakistan. With prices averaging $460/lt ldt for bulkers and $490/lt ldt for tankers, Pakistan continues to be the market of the
Name change for Genoa's Voltri port Genoa Port Authority has announced that at the request of the local community, its westernmost port of Voltri will change its name to Pra. Authority president Luigi Merlo said: "It's evident that the main operations of this basin are carried out in front of the community of Pra and therefore we
Neu Gas seals another record timecharter Hamburg-based Neu Gas International has sealed another record timecharter, this time for a large gas carrier. Brokers told IHS Maritime that Swiss commodities trading house Gunvor has extended its hire of Neu Gas' 2009-built Ernest N for $2.075M per month or $69,166 per day. Market players believe
PPA to sign MoU with Subic Bay The Philippine Ports Authority (PPA) is set to sign a memorandum of understanding (MoU) with the Subic Bay Metropolitan Authority to designate a few berths in the former US military base as an extension of the ports of Manila. According to Joseph Emilio Abaya, Transportation Secretary of the
Pacific Radiance to grow share price Singapore-listed offshore marine services provider Pacific Radiance is tipped to increase its share price to SGD1.73 ($1.37), according to CIMB Associate Director Yeo Zhi Bin. Yeo highlighted that the company is steered by an experienced team of industry veterans who have intricate knowledge in
Indonesian and Australian coal prices drop Prices of Indonesian and Australian steam coal fell to a 10-year low last week, a situation that could encourage India to import more steam coal. A global coal glut and weak import demand due to cheaper Chinese domestic coal has caused prices to fall to levels not seen in a decade. Free-on-board
Grain shipments rise on St. Lawrence Seaway amid rail turmoil Rail service delays may have spurred some grain shippers to divert cargo to barge services, as volume on the St. Lawrence Seaway rose 3 percent year-over-year in the April through August period. The volume growth comes despite barges traversing the seaway later than usual because of a lingering, harsh winter. Grain...
Charleston charts growth with focus on discretionary cargo The Port of Charleston will invest $1.3 billion in the coming decade to deepen its harbor to 50 feet, modernize marine terminals to accommodate today's mega-ships and build intermodal connectors to enhance its status as a world-class port, James Newsome, president of the South Carolina Ports Authority, said Monday. In his...
Freight demand, tight capacity drive Landstar revenue up 20 percent Landstar System expects to post $3 billion in revenue this year as strong freight demand and tight truck capacity boost revenue by double-digit percentages in the early third quarter. The "strong trends" Henry Gerkens noted in early July continued through August and show no signs of slackening, the Landstar chairman and...
Trucking hiring stalls as payroll numbers dropped in August Trucking's hiring plans stalled in August, as for-hire motor carriers with payroll numbers tracked by the U.S. Bureau of Labor Statistics lost approximately 800 employees. That was the first decrease in U.S. trucking job numbers as measured by the federal government since November 2013. As a result, the JOC.com For-Hire Trucking...
New BNSF contract in Tacoma could improve intermodal service Full-size chartA new contract between BNSF and a Tacoma short-line railroad aimed at cutting turn times down for trains leaving the Port of Tacoma could give shippers, particularly U.S. grain exporters, a much-needed improvement in rail service. BNSF and municipally owned Tacoma Rail signed a maintenance and fueling contract that aims...
Drayage driver shortage could threaten intermodal growth, analyst says The so-called truck driver shortage largely has benefited intermodal rail - until now. Trucking's increasing difficulty finding drivers to pilot big rigs has helped shift freight to intermodal containers, but it could also threaten future intermodal growth. "The driver shortage is beginning to hit drayage," John G. Larkin, managing director of...
European imports briskly expand despite sluggish EU economy European economic growth might be flatlining, but you wouldn't know it by the strong container import growth in the first half, according to Drewry Maritime Research. Asia to Europe and the Mediterranean container volume rose 8 percent year-over-year. Drewry expects continued traffic growth in the second half, albeit at a slower...
US needs LNG bunkering guidelines, Marad study finds Interest in using liquefied natural gas as vessel fuel is highlighting the need for regulatory policies and operational and safety standards, according to a new Maritime Administration study on LNG bunkering. The U.S. is hardly the only country trying to a handle on using LNG as a maritime fuel. Vessel owners...
Europe still trailing global air cargo growth The gap between the sluggish European air cargo sector and the resurgent global market looks set to widen with two of the region's leading carriers posting declines in freight traffic in August. Air France-KLM, Europe's largest cargo airline by revenue, saw traffic shrink by 1.7 percent from August 2013, outweighing a...
Third shipment of gates delivered for Panama Canal project Third shipment of new gates for Panama Canal arrives.Three out of four shipments of new gates have made their way to the Panama Canal, as the expansion project to make way for big ships nears 80 percent completion. The four-gate shipment arrived today at the Atlantic entrance of the canal aboard...
How is Maersk making money? When Maersk Line reported a $1.1 billion first-half profit last month that was 55 percent higher than the same period last year, some analysts wondered how the world's biggest container line was able to achieve such a huge change in only a year's time, especially when global demand was not...
China plans to further liberalize air cargo market The Civil Aviation Administration of China said it plans on liberalizing its air cargo market, but it's not clear whether China will allow more foreign carriers to operate domestically. Air cargo transportation is increasingly important to the country as its manufacturing sectors rise up the value chain to produce higher-value goods...
New CUC Alliance to offer 18 east-west services The three container lines planning to link up in a new vessel sharing agreement - CMA CGM, United Arab Shipping Co. and China Shipping Container Line - will initially operate 18 separate services covering the four major east-west trades, sources say. An official announcement is "imminent", according to PR News Service,...
Apple iPhone launch gets air cargo industry excited The air cargo market is giddily awaiting tomorrow's unveiling of Apple's new iPhone 6 that when launched will create a spike in export traffic from the production city of Zhengzhou and add further lift to solid air freight volumes out of China. Confidentiality agreements prevent Apple suppliers or service providers spilling...
Rising foreign trade ramps up China's August box traffic Container throughput at China's top ports rose 7.2 percent in August as both foreign and domestic trade accelerated, with the Pearl River Delta terminals bucking a recent trend to record the fastest growth this year. "We are particularly encouraged by the recent exports from Hong Kong and China, as well as...
Capital Product bags $151m Capital Product Partners has raised net proceeds of $151m as it closed a public offering of shares on the Nasdaq stock exchange.
Euronav loads IPO gun Euronav has filed papers to launch its long-awaited initial public offering (IPO) in New York.
More Panama gates arrive The third and penultimate shipment of lock gates for the widened Panama Canal has arrived.
Alaska LNG steps it up Planners of the Alaska LNG export project kicked off the federal permitting process, the latest milestone in for the planned liquefaction facility.
Vale joins yard initiative Vale has signed a cooperation agreement that will see it support the Brasil Basin Drydock Company (BBDC)'s proposed shiprepair yard in Brazil, New York's McQuilling Partners said.
State-backed deals rise State backed funding for newbuilding deals is booming and expected increase even more over the coming years the Ship Finance Forum at SMM in Hamburg was told at its opening conference this week.
Grimaldi in port play Italy's Grimaldi Group has unveiled an indirect investment in Sintermar, the terminal operator at the port of Livorno.
Golden Ocean cape fixed Golden Ocean has secured a period contract for one of its capesize bulkers, brokers say.
SSC buys new Singapore Shipping Corp has laid down $80m for a car carrier newbuilding.
Double joy for Seaspan Seaspan Corp has secured period work for a quartet of newbuildings and enlarged an options agreement with Yangzijang Shipbuilding.
German lessons required Germany's hard hit shipping industry needs to educate shipping investors more about risk if it wants to fill the funding gap left by the collapse of the KG market - which could continue for another two decades -according to ER Capital Holding CEO Jochen Klosges.
Marianas mission A Japanese investor is bringing a new cargoship into service in the Pacific.
Cido tanker TIL bound? Cido Shipping is believed to have shed its second aframax tanker of the summer.
ABN AMRO in Asia drive Dutch bank launches new advisory business in Asia offering its services to shipping companies.
Alfa Laval big on bonds Marine engineer Alfa Laval has refinanced its takeover of Frank Mohn AS with a EUR 800m ($1.04bn) bond issue.
OSG nets scrap cash Overseas Shipholding Group has secured a strong price from the demolition sale of one of its tankers, sources say.
Limarko boosts profit Lithuanian reefer and containership owner Limarko has posted increased first-half earnings as currency losses decreased.
JF in "investment mode" John Fredriksen's sale of a major holding in Golar LNG will not be followed by his withdrawal from other major companies in his business empire, one of his leading associates says.
Vinalines told to grow Vietnam's deputy prime minister Hoang Trung Hai wants national shipowner Vinalines to expand its bulker market share.
Rongsheng getting help Debt-ridden China Rongsheng Heavy Industries has been notified by the government that an "independent third party" could begin a restructuring of the shipyard.
Grounded in Greece Dramatic pictures have emerged of an Ince Denizcilik-owned bulker grounded on the rocks on the Greek island of Astypalaia.
Samskip MPP refloats A Samskip multipurpose (MPP) has been refloated after grounding off Iceland.
Ferguson to expand The investor buying bankrupt Scottish shipyard Ferguson is pledging to quadruple its workforce within three to five years.
Ulriken buyer emerges Yinson Holdings has confirmed that it is the buyer of a VLCC owned by Frontline affiliate Independent Tankers.
Wight to exit Algoma Algoma Central Corp is on the lookout for a new chief executive after the present incumbent announced his retirement.
Cleared to sail The US Coast Guard (USCG) has given permission for an American Steamship bulker that ran aground to resume its voyage.
U.S. steel exports continue downward spiral in July
Port of Los Angeles receives grant to reduce air pollution The port will administer the grant from the Environmental Protection Agency's Diesel Emissions Reduction Act program, which will be used to retrofit 14 pieces of cargo-handling equipment with Level 3 diesel particulate filters.
Seaspan agrees to charter four more ships Gerry Wang, Seaspan's chief executive officer and co-chairman, said all of the company's new ships have been signed to attractive fixed-rate time charters with leading liner operators.
Air France to retire MD11 fleet "This fleet adjustment is in line with Air France-KLM-Martinair Cargo's strategy to strongly focus on specialized products and services like pharmaceuticals, flowers, oil and gas, or express," the carrier's Eelco van Asch told customers.
Maersk plans transpacific eastbound General Rate Increase
Carrier information platform Logistadvise launches The information service, which launched Monday, has 18 different search filters that allow the user to narrow their search to find the type of carrier they require based upon equipment, quantity and other service offerings.
Deltamarin subsidiary to deliver turnkey scrubber System to be installed on vessel by the end of the year.
Newbuilds to use Wartsila dual-fuel engines Finnish engine maker confirms orders for four vessels.
Shipyard to launch LNG Hybrid Barge this week Will operate in the Port of Hamburg.
Prices weakening across Europe Sharp falls in Southern Europe.
Rotterdam congestion keeps box line diversion in place Diversion plan extended to mid-October.
Unmanned vessels might run on LNG 'Technology for electronic positioning, satellite communications and anti-collision measures already exists.'
IFO prices display mixed trend in Fujairah IFO avails tight in Durban.
Alfa Laval in refinancing move Bond issue to replace bridging loan.
Wartsila develops controllable pitch propeller system Manufacturer says new system improves and efficiency and reduces emissions.
Engine order 'by-passes need for scrubbers' Dual fuel orders show 'shipping is an innovative industry with the smallest possible ecological footprint.'
IMO requirement for BDN in need of change Review identifies 'inherent problem' in supplier's declaration regarding compliance with sulphur limits.
China could struggle to meet LNG bunker targets New LNG bunker station to open next month.
Asian bunker prices spiral down at week's start Meanwhile, offices in Busan remained closed for a holiday.
'Energy port' opens in the Caribbean Facility provides bunkering, among other energy services.
Saudi lubricants specialist expands marine portfolio New marine lubricant series to 'raise benchmarking standards'.
MARAD releases LNG bunkering guidelines Study addresses 'widespread challenges' of adopting the gas as marine fuel.
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