European banks are underlent, insists Hussey ING shipping chief says only problem is lack of good deals
Euronav IPO to dominate investor interest in crude Likely to push out smaller operators seeking US listing
VLCC Chartering gets down to business A flying start for Fredriksen-led tanker pool as fourth-quarter momentum builds
It's recovery in box shipping, but not as we know it Drewry says performance in coming years will reflect cost reduction, not vessel utilisation
Seattle and Tacoma moot a strategic alliance US ports look to align management operations to fend off Canadian competition
Brussels competition laws trip up the unwary owner Even gossip during after-work drinks can fall foul of the regulator, warns barrister
MCC Transport responds fastest to online bookings INTTRA responsiveness study shows AP Moller-Maersk arm is first off the mark
aronnax@DMD: How to sell innovation to shipping Windpower piques owners' interest but technology companies are slow to capitalise
Long Beach task force tackles congestion The Congestion Relief Team will meet daily until cargo flows return to normal
Capacity threat will cloud the next 12-18 months, warns Moody's Review of global shipping prospects predicts rates held down by supply and uncertain demand
It's not all doom and gloom for panamaxes There are plenty of opportunities to utilise these vessels despite the larger Panama Canal
Westbound transpacific carriers recommend rate minimums TSA section warns that further increase recommendations look likely over coming months
Lyras blasts Brussels for meddling with shipping Stay global: Eurosceptic owner urges trade associations to defend the role of the IMO
Bank timidity holding back consolidation, Grimaldi warns Unviable operators should be culled, says top Italian owner
Fyffes must end its exclusivity deal with Maersk Brussels puts conditions on banana giant's merger with Chiquita
Denmark hosts shipping's answer to Davos Danish Maritime Forum draws heavy hitters to Copenhagen for two days of debates
Australia reveals new shipping measures for the Great Barrier Reef Northeast Shipping Management Plan seeks to balance maritime and environmental needs
Raise liquidated damages for non-compliant eco-ships, urges lawyer Existing cap on yard liabilities is too low, Naples conference hears
Golden Ocean and Knightsbridge merge to form a dry bulk powerhouse Tie-up taps firms' low cash breakeven and strong balance sheet to 'grow aggressively'
Port development lags expanding box ship As container ships become bigger amid a push to reduce carbon emissions, significant investment in port infrastructure is required. But competition for government funding presents a challenge, Singapore's transport minister, Lui Tuck Yew, said at the opening of the inaugural Danish Maritime Forum
Italy to start East Africa migrant talks Italy will launch next week an official dialogue with countries in East Africa to tackle irregular immigration via a dangerous sea route to Europe. Italy has borne the brunt of migration from East Africa, which reached a crisis point last year with the Lampedusa tragedy, in which a vessel of
US box ports form alliance Competition for container business has driven the ports of Seattle and Tacoma in Washington State into an alliance to attract more cargo to their docks. Commissions at the ports announced on 7 October a scheme to unify management of their box terminals and related functions under a single seaport
Dae Sun books Heung-A box ship trio South Korean feeder ship operator Heung-A Shipping said today it has ordered three 1,800teu box ships from compatriot shipbuilder Dae Sun Shipbuilding & Engineering. The ships cost a total of KRW93,705,720,000 ($87.6M), or $29.2M each, and are due to be delivered by 31 December 2016. In a Korea
Shipping forum calls for self-regulation Speakers at the Shipping and the Law conference in Italy have warned today against regional regulation and giving the EU too much control over the shipping industry. In his opening speech on the second day of the event in Naples, shipowner Emanuele Grimaldi called on the industry to regulate
Oil rig evacuated as nuclear ship burns Workers were evacuated from an oil platform in the Moray Firth last night after a ship carrying radioactive material caught fire and began drifting towards the rig. Although the blaze is now out, the Beatrice platform remains unmanned. A fire broke out in one of the two funnels of the Parida -
Russia aims to delay Baltic NOx limits Russia wants to push back implementation of a NOx emission control area (NECA) in the North and Baltic Seas until 2021, says Russian deputy transport minister Victor Olersky. He told reporters today at the Danish Maritime Forum that the zone would be too expensive for the shipping industry and
Eco-ship economics spark debate in Italy Shipowners were warned of the risks of investing in 'eco-ships', rather than retrofitting older vessels, by participants at Studio Legale Lauro's Shipping & The Law pre-conference yesterday in Naples, Italy. While tightening environmental regulations are expected to nudge shipowners to purchase
MH370 search shifts on new data analysis Efforts to find missing Malaysia Airlines flight MH370 are shifting their focus more than 1,000km further south and 1,800km southwest of the Australian mainland, closer to the Southern Ocean, Australian authorities have announced. A report released today by the Australian Transport Safety Bureau
EU backs North Adriatic LNG masterplan European Union (EU) funds of EUR322,000 ($407,000) have been granted for drawing up a masterplan on using liquefied natural gas (LNG) and other low-emission marine fuels in the northern Adriatic. The grant covers half the estimated cost of the project, aimed at publishing a plan before the end of
Iskes buys Damen tug on financing deal Netherlands-based harbour and offshore tug operator Iskes Towing & Salvage has added a third Damen ASD Tug 3212 - Mercurius - to its fleet thanks to a unique financing package from the shipbuilder, said Iskes Managing Director Ronald Vergouwen. Damen said its LeaseCo programme enables firms to
Charleston cleared to dredge to 15.8m A proposal to deepen the Port of Charleston's harbour to 15.8m (52ft) at a cost of $509M has been approved by federal overseers. In a report issued on 10 October, the US Army Corps of Engineers recommends going to 15.8m: the deepest of three scenarios being considered by the South Carolina Ports
LNG carrier saves fishermen off Indonesia An LNG carrier rescued three Indonesian fishermen in the Celebes Sea off Indonesia on Monday. Senshu Maru, operated and managed by Mitsui OSK Lines, was en route from the Port of Bontang, Indonesia, to the Port of Sakai-Senboku in Osaka, Japan. The 1984-built vessel found the fishermen drifting at
China's marine economy up 8.6% in 1H14 China's marine economy maintained stable growth in the first half of this year, recording an 8.6% year-on-year increase, said the State Oceanic Administration (SOA) last week. The nation's marine sector expanded to CNY2.58Trn ($419.5Bn) in the period from January to June, according to data from the
Four liners resume business at Iran port Four shipping liners, Hyundai Merchant Marine, COSCO, Hanjin Shipping, and Wan Hai Lines are to resume operation at Shahid Rajaee Port after easing of sanctions in Iran, stated the Ports and Maritime Organization (PMO) of Iran yesterday. The four foreign carriers have been negotiating with Iran to
Sewol captain: 'I should have steered ferry' The captain of the capsized South Korean ferry has testified that he should have taken charge of the vessel at the time it capsized. Lee Jun-seok, who is on trial for manslaughter, testified at the hearing yesterday that he had made a mistake in letting an inexperienced crew member steer the Sewol
Indonesian port sees three ship robbery attempts in one day Three ship boardings occurred near an anchorage area in South China Sea, off Pulau Bintan, Indonesia within a span of one day. According to a source, a bulk carrier was boarded by four robbers, armed with knives on 24 September. The Panama-flagged, 46,541dwt vessel was anchored in the South China
China crude steel production up 2.6% China's crude steel production grew 2.6% year on year to 550.1M tonnes in the first eight months in 2014, with the growth rate slowing down by 5.2 percentage points compared to a year ago. The country's steel production increased 5.4% y/y to 742.1M tonnes from June to August this year, with the
Taiwan to adopt new coastal surveillance system Taiwan Coast Guard Administration (CGA) yesterday inked a deal with Transas Marine Pacific and its local partner Mercuries Data Systems (MDS) for a surveillance system to ensure coastal security. The multi-million contract, according to the company, will provide the CGA with real-time data on any
Keppel wins $119.8M from repeat customers Singapore-based shipbuilder Keppel Shipyard and China-based Keppel Nantong Shipyard have secured contracts worth SGD153M ($119.8M) from repeat customers. Both companies are wholly owned subsidiaries of Keppel Offshore and Marine (Keppel O&M) and Keppel Shipyard's contract is for the conversion of a
From US base, fleet telematics pioneer Omnitracs eyes global markets Fresh from two acquisitions, Omnitracs is looking for new opportunities at home and abroad. The company that pioneered telematics in U.S. trucking by launching satellite truck-to-dispatch communications in the 1980s now sees room for more global growth. "The U.S. market is our core market and will continue to be, but our...
Gypsy moth found in Honolulu on ship from Taiwan U.S. Customs and Border Protection agriculture specialists have intercepted another ship contaminated with Asian Gypsy Moth, this time in the Port of Honolulu. It's the first time the destructive pest has been found at Hawaiian port, and also the first time the unwanted guests were sourced to Taiwan. Customs' agriculture specialists...
Dole to sign new contract at Gulfport The Port of Gulfport, Mississippi, which is losing its largest tenant with the departure of Chiquita to New Orleans, expects to sign a new lease with Dole Fresh Fruit Co., port Executive Director Jonathan Daniels told the Sun-Herald in Gulfport. The Dole contract will keep the company in Gulfport for at...
Accord allows Savannah to beginning dredging project Georgia port and state officials have signed a partnership agreement with the Army Corps of Engineers that allows work contracts to be awarded for deepening of Savannah's port channel to 47 feet. "The gun at the starting line has been fired, and we're out of the blocks," said Curtis Foltz, CEO...
Heavy India port investment needed to handle expected growth in volumes India needs to invest heavily in port infrastructure development to cope with a projected significant growth in traffic volumes, according to a report from the Associated Chambers of Commerce and Industry of India. The trade association said the country's major state-owned ports are expected to see cargo tonnage grow at a...
Ship crews likely to be screened for Ebola symptoms With stricter Ebola screenings for airline passengers in the pipeline, U.S. Sen. Chuck Schumer, D-N.Y., called for intense health screenings on cargo ships from all Ebola-stricken countries. Schumer said he expects the Centers for Disease Control to unveil tougher Ebola screenings on U.S. soil within the next week. Schumer said he...
Scant improvement in berth productivity on mega-ships Berth productivity on ships of 10,000 TEUs and higher edged upward globally in the first half of 2014 versus the same period last year, but saw wide variation depending on the region, according to JOC Port Productivity data. For ships of 10,000 TEUs or above, the global average was 115 total...
OOCL, Yang Ming expand China-India service OOCL and Yang Ming Line have upgraded their joint China-Pakistan Express (CPX) Service with the addition of a new call at Port Kelang, Malaysia, on the eastbound leg. The weekly service, currently using five vessels, will now offer the following rotation: Shanghai, Ningbo and Shekou, China; Singapore, Karachi, Pakistan; Mundra, India; Port...
Texas to help fund Houston's drayage fleet revamp The state of Texas will help fund the effort to continue replacing old drayage trucks at the Port of Houston with cleaner, more environmentally friendly models through a $3 million grant. The Texas Commission on Environmental Quality announced new funds for truck-owners looking to modernize their drayage fleets. The Drayage Truck...
Revamped freight strategies elevate truck trailer sales Trucking capacity isn't just measured in trucks, or even truck drivers. Trucking companies increasingly are investing in trailers, replacing older equipment and rethinking their fleet size as they move to drop-and-hook strategies to maximize use of existing capacity. "Five or 10 years ago, everyone was trying to reduce their number of...
Oakland port names Zampa director of communications Mike Zampa, a communications specialist for the past 25 years, including eight years in the maritime industry, was named director of communications at the Port of Oakland. Zampa served as director of communications at APL Ltd., and then worked in the communications department of APL's parent company, the NOL Group, in...
Carriers ranked by fastest e-booking response time There's more than one way to rank a container line. INTTRA, the e-commerce network for containerized ocean shipping, today identified the five fastest ocean carriers when it comes to electronic booking - those that respond to shipper e-booking requests most quickly. Three of the top five are the Maersk Group companies...
Container shipping recovery depends on alliances, cost-cutting, Drewry says The recovery in container shipping will be driven by the formation of new mega-alliances between carriers and further cuts in unit costs, rather than a rebalancing of supply and demand, according to Drewry Shipping Consultants. "A different recovery is taking shape, which is unlikely to be built on any improvement in...
Air France-KLM freight slumps after pilots strike Air France-KLM's freight traffic slumped 17.7 percent in September from a year ago largely due to a two-week-long strike by pilots at the carrier's French unit that is expected to plunge Europe's largest air cargo business deeper into the red. Capacity decreased 16.6 percent from September 2013, but the load factor...
Drewry: Spot rates stable as Golden Week ends Spot rates from Hong Kong to Los Angeles plateaued this week, highlighting three straight weeks of stability following a volatile September. Drewry's benchmark spot rate from Hong Kong to Los Angeles registered at $1,875 per 40-foot container this week for the third straight report. Full-size chart Drewry's benchmark spot rate from Hong Kong...
Truckload capacity 'imbalance' sends freight to spot market Truckload capacity isn't so much tight as it is imbalanced, according to Scott Moscrip. "There's more freight available where the capacity isn't, and as a result, a lot of that freight is heading into the spot market," Moscrip, founder and CEO of load-matching service Internet Truckstop, said in a conference call...
Golar to reveal partner? Golar LNG is expected to announce a major strategic partnership with an Asian energy company, a US analyst said today.
AMSC confirms OSG interest American Shipping Company (AMSC)'s chief executive confirmed that the Oslo-listed shipowner sees a merger deal with Overseas Shipholding Group (OSG)'s US-flag division as a good idea.
TOTE down to two TOTE has narrowed candidates to just two shipyards bidding to convert two US-flag ro-ros to LNG power.
Black Rose owner pursued India is to ask Singapore to extradite the fugitive owner of a bulker that is still stuck off Paradip five years after it sank.
By royal appointment Denmark's crown prince Frederik highlighted the challenge some of shipping industry's high-profile leaders face at a Davos-style maritime forum in Copenhagen on Wednesday.
Solvang sells old ship Oslo-listed Solvang has sold its oldest LPG carrier as it moves forward with its fleet renewal project.
BDI back down The key Baltic Dry Index (BDI) has dropped below 1,000 for the first time since mid-August as capesize rates fell.
Court protects SCF vessel Greenpeace activists have been threatened with a fine by a Dutch court if they block a Sovcomflot (SCF) shuttle tanker from delivering oil in Rotterdam.
The "all-star team" Leaders of world shipping from more than 30 countries gathered in a warehouse in a remote part of Copenhagen's waterfront today for a global summit to come up with wide-ranging solutions to the challenges facing the maritime industry.
Teekay tries again Teekay Gas president David Glendinning says the Canadian owner's joint venture with Exmar is presently involved in one tender and expects to successfully enter the business.
Canada's arctic alert As Canada sees more shipping traffic in its arctic region, its environmental watchdog has put the blame on the coast guard for not ensuring marine safety.
POSH pulls the plug Singapore shipowner PACC Offshore Services Holdings (Posh) has aborted a deal to bring in a new partner in its Mexican operations.
Polemis slams eco-ships Eco-ships are actually a burden on the environment, traditional Greek shipowner Spyros Polemis has said.
Pirate threat to grow Piracy off West Africa is expected to grow as ransom cash is diverted into funding Nigerian election campaigning.
Higher rates needed Container lines have taken aim at depressed rates by recommending a minimum price for key transpacific shipments from next month.
Dong-A signs for duo Korean owner Dong-A Tanker has boosted its bulker orderbook again with a deal for two Newcastlemaxes in China.
GOGL the "winner"? Analyst Arctic Securities sees Golden Ocean Group (GOGL) gaining more from its tie-up with Knightsbridge Shipping (VLCCF), based on net asset value (NAV).
Timing is right The merger of the bulker fleets of John Fredriksen's Golden Ocean Group (GOGL) and Knightsbridge Shipping has won the backing of analyst Evercore.
Cargill profit down 26% Cargill, the world's largest agricultural trader, has made a weaker start to its 2015 fiscal year with a 26% decline in net profit.
OW Bunker to take a hit OW Bunker expects to see its 2014 profit come in 20% less than the previous year due to the recent plunge in oil prices.
Fire leaves ship adrift A ship carrying a cargo of radioactive concrete waste is reported to be drifting in waters close to the Scottish town of Inverness.
Greek duo arrested Greek shipowner Tristar Management has had two ships arrested in Singapore, latest court documents show.
Bulker giant forged Knightsbridge Shipping and Golden Ocean Group, two separately-listed shipowners in John Fredriken's group of companies, have struck a deal to merge into a single bulker titan.
Air cargo to grow 4.7% annually In the next two decades, air cargo activity will grow at a rate of 4.7 percent annually, according to the latest biennial World Air Cargo Forecast by Boeing, increasing to more than twice the amount of traffic measured in 2013.
INTTRA ranks carrier e-booking response time
Container shipping recovery coming late 2016 or 2017 The London-based consultant said the turnaround will be based on the "formation of the new mega alliances and the continued reduction of unit costs, rather than the matching of supply and demand at the individual trade route level" and improved freight rates.
U.S. Customs names Bell deputy for international trade The personnel merry-go-round at CBP continues to spin with news Tuesday that Sandra Bell has been appointed deputy assistant commissioner for international trade after serving the past eight years as executive director of regulations and rulings.
Truck driver pleads guilty to paying bribes to haul military cargo While working for Louisville, Ky.-based trucking company, David R. Nelson paid more than $100,000 in bribes between 2006 and 2012 to Albany, Ga., traffic officials to transport freight from the base to destinations on the West Coast, the Justice Department said.
Crude tumbles as US stockpiles gain US stockpiles climbed by 5.01 million barrels last week.
Support for OW Bunker after profit warning 'We find it unfortunate that the very significant and abrupt decline in the oil price has forced the company to downgrade,' says major shareholder.
Shenzhen: Full cost subsidy for using low sulphur fuel available Scheme applies to ships at berth in Shenzhen port.
Benchmark prices fall sharply for second day 'It's hard to believe,' says Singapore-based trader.
Shipping veteran rounds on regulartory burden 'Shipping must be given a seat at the top table.'
Tender goes out for low sulphur bunker supply Port authority will offer 'preferential terms'.
Ship financier discounts 'eco' ship argument A robust business overrides ship type for investors.
New barge for Pakistan-based supplier Ocean Bunkers now have five delivery vessels.
Bunker-saving device enters Australian market Device claims substantial bunker savings.
New ship arrests in Singapore General cargo vessels operated by Greek interests.
Shipowners: More research needed on scrubber discharge Current information 'inaccurate and limited'.
Sulphur rules raise bunker delegates' ire New rules among issues debated at recent RESCON event.
Sri Lanka: Monthly bunker exports fall 'Heightened competition from major regional players' behind slowdown, says Central Bank.
Bunker credit managers 'a different breed' Some 35 individuals control credit for 75% of back-to-back traded bunker deals.
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