UPDATE: Seafarer ransoms under risk A suspected convergence between terrorism and piracy would threaten ransom payments for seafarers, experts confirm. "For many countries, it is illegal to pay ransoms if they will fund terrorism. For example, in some countries, if there was a definite connection between piracy and terrorism in
Seafarer ransom threat from terror links A suspected convergence between terrorism and piracy would threaten ransom payments for seafarers, experts confirm. "For many countries, it is illegal to pay ransoms if they will fund terrorism. For example, in some countries, if there was a definite connection between piracy and terrorism in
Search on for lost Fair Artemis tanker Piraeus-based shipping company Fairdeal confirmed to IHS Maritime today that it has lost contact with its managed product tanker Fair Artemis, off the coast of Ghana, but says it is too early to say the vessel has been hijacked. "We will not speculate on such a sensitive matter," a company spokesman
Aurora LPG Holding to go public on Oslo Axess Aurora LPG Holding, the gas carrier company whose shares trade currently traded on the over-the-counter (OTC) market in Oslo, says it has raised NK300.3M ($50M) through a private placement of equity. The company placed 6.4M shares with investors at a price of NK47 each, close to the floor of its
BIMCO clause targets facilitation payments A new clause for voyage and charter parties will protect shipowners who refuse to pay 'facilitation payments' that are considered illegal by the flag state. Speaking to IHS Maritime today, Grant Hunter, BIMCO's chief officer for legal and contractual affairs, said the new clause, which is being
HMD wins LPG pair South Korean shipbuilder Hyundai Mipo Dockyard has announced a new contract for two LPG carriers, reportedly ordered by Stealth Maritime. The two 22,000m³ vessels, believed to cost about $52M each, are scheduled for delivery in 1Q17. Sources indicate there may be two options attached to the order,
Capital Ship sets sights on LNG as marine fuel Capital Ship Management Corp has teamed up with Lloyd's Register (LR) and Daewoo Shipbuilding and Marine Engineering to investigate the use of LNG as a marine fuel to power a future ultra-large container ship design currently under review. Determined to improve corporate performance and efficiency
NATO extends anti-piracy operation to 2016 Defence ministers have agreed to extend NATO's counterpiracy operation, Ocean Shield, to the end of 2016, it was announced last week. NATO warships - currently sourced from Italy, Spain, and Turkey - patrol a sea area of more than 5M km2 in the Arabian Gulf, Gulf of Aden, and Indian Ocean. They
Tanker suspected hijacked by pirates in Gulf of Guinea There is still no word about the fate of an oil product tanker believed to have been hijacked off the coast of Ghana last week. Liberian-flagged 12,807dwt Fair Artemis last made contact with its Greek owner, Fairdeal Group Management, at 18.00 GMT on Wednesday 4 June. There was no contact the
Crowd-sourced reward offered for MH370 leads Frustration with the lack of progress in the search for missing Malaysia Airlines Flight MH370 has prompted an Australian businessman to appeal for fresh information. Ethan Hunt aims to raise $5M through fundraising website Indiegogo. The money will be used to encourage a whistleblower to reveal
Mauritius and Nigeria move forward on MLC Mauritius last week became the 60th state, and sixth member of the Indian Ocean (IO) memorandum of understanding (MoU) on Port State Control, to ratify the Maritime Labour Convention (MLC) 2006. The government has pledged to develop the 'Blue Economy' and is seeking greater take-up of courses at the
Boskalis expands island for airport Boskalis International has begun reclamation work for a new airport that will double the size of Kudahuvadhoo Island in the Maldives. A cutter suction dredger will extract 1.5M m3 of sand from the lagoon, adding 62.3ha to the 69.7ha island in Dhaalu Atoll. The land will be used for a 1,800 ' 30m
Albedo hostages escape pirates Eleven seafarers being held hostage by pirates in a house near Hobyo, Somalia, escaped on Friday morning after three and a half years in captivity. They were the remaining members of the 23-strong crew of 1,066teu box ship Albedo, which was hijacked 293nm west of the Maldives on 26 November 2010 en
Sixty lives lost in Red Sea sinking The UN High Commissioner for Refugees (UNHCR) confirmed on Friday that 60 passengers and two crew members died when a boat sank in the Red Sea between the Horn of Africa and Yemen on 31 May. The passengers were migrants from Somalia and Ethiopia hoping to reach Saudi Arabia. Bodies that washed up on
Port Freeport expands to meet petrochemicals demand Port Freeport has deep water, plenty of acreage for expansion, and a location in the midst of the Texas petrochemical industry. Now the diversified port southeast of Houston is taking new steps to expand its container-handling capabilities. Two post-Panamax gantry cranes that can span 18 rows of containers are scheduled to...
Container shipping industry: Destination unknown Several items caught my attention during the past month regarding the direction of the container shipping industry. Some of the signals are becoming almost too clearly understandable, and some of them, well, point to something all too familiar when dealing with this industry: a mess with one of several possible...
Craig named president, CEO of MOL (America) Richard CraigContainer shipping veteran Richard "Dick" Craig was promoted to CEO of Mitsui O.S.K. Lines, Ltd. America today, and he will take over the position in two weeks. Craig, a 34-year veteran of the industry, was serving as MOL's executive vice president of sales and operations. He joined the company in...
Big ships build up LA-Long Beach The share of LA-LB among North American west coast ports' container volume has risen from 58.6 percent in the first quarter of 2012 to 61.4 percent in this year's first quarter. Full-size chart The Los Angeles-Long Beach port complex the past three years has increased its share of the container trade on...
Container ship crew held by pirates finally freed Eleven sailors from the Malaysia-flag container ship Albedo held hostage for more than three years by Somali pirates have arrived safely in Kenya, according to mediators who helped secure their freedom, Al Jazeera reported. The 1,066-TEU vessel, which had a 23-man crew when it was attacked, was hijacked about 1,500 kilometers off...
JOC Top 100 Importers & Exporters Ranking The Journal of Commerce's annual Top 100 Importers and Exporters ranking begins with data from PIERS that is then enhanced by information gathered from other industry sources. The lists are restricted to shippers - beneficial cargo owners of containerized cargo that entered or exited U.S. ports by ocean vessel during...
New forwarding system impacts 1Q earnings at UTiW The rollout of UTi Worldwide's new forwarding system, 1View, pressured the company's fiscal first quarter results, according to CEO Eric Kirchner. UTiW's fiscal first quarter earnings were down slightly year-over-year, the company reported, but things are going according to plan, Kirchner says. UTiW reported revenue of $373 million in the first...
Retailers see June growth in containerized imports With unusually high quantities of merchandise entering the country to avoid potential disruptions ahead of the expiration of West Coast dockworkers' labor contract at the end of the month, U.S. retailers expect containerized imports to increase 7.5 percent in June year-over-year, with growth tapering through September but rising back up...
GAO: Cybersecurity lacking at US ports The U.S. Department of Homeland Security will assess cybersecurity at ports across the nation after a report from the U.S. Government Accountability Office that showed the DHS wasn't doing enough to stop cyber threats. The GAO's 50-page report, released last week, says the DHS, the U.S. Coast Guard and the Federal...
Chiquita's shift marks a return to past glory for New Orleans Shipping lines change ports all the time, but a recent service announcement by Chiquita Brands International held a special significance for New Orleans that port CEO Gary LaGrange was quick to recognize. LaGrange beamed during a May 14 ceremony in which the company announced plans to transfer its Gulfport, Mississippi, port...
No sign of Korean decision on P3 Network Efforts by Maersk, CMA CGM and Mediterranean Shipping Co. to obtain approval of their proposed P3 Network have focused on the U.S., Europe and China. But with the U.S. and Europe having given thumbs up to the largest-ever carrier alliance, another country with a say in the issue - South...
Demo prices peak Demand for ageing tonnage that can be sold for recycling remains high but many believe scrap prices are starting to level off.
Clyde opens LA outpost Clyde & Co has hired a maritime lawyer from Keesal, Young & Logan to lead a new office outside of Los Angeles.
Dorian LPG hires Hansen Industry veteran Tim Truels Hansen is preparing to part ways with AP Moller-Maersk after lining up a position with US operator Dorian LPG (Dorian).
SwissMarine strikes for cape SwissMarine has continued its run of activity in the capesize period market with the hire of a Chinese newbuilding.
Rina records fleet growth Italian class society Rina has logged improved earnings and revenue figures for 2013 as its fleet grew.
Bibby Line banks more Liverpool shipowner Bibby Line Group has pushed up 2013 profit as offshore vessels enjoyed stronger demand.
Polemis adds another VL Adam Polemis has purchased his third VLCC in a month as he looks to build up his fleet after splitting his business from brother Spiros.
Ruperti changes sides A court of appeal hearing over a December 2012 fraud judgement against Russian businessman Yuri Nikitin and his associates has opened at London's high court.
Taken to Togo? A missing Greek tanker may have been taken east to Togo, according to Ghana's military.
DHT in second Samco deal Samco's VLCC fleet is not the only asset New York-listed DHT Holdings is buying from the Singaporean firm, brokers believe.
SCF IPO off for now Russia has pulled a plan to carry out an IPO of Sovcomflot (SCF) this year, while a listing of Novorossiysk Commercial Sea Port (NCSP) is also off the agenda.
China Harvest cuts stake One of the largest shareholders in bulker owner Courage Marine has cut its holding in the company.
Zaliv's Russian tie-up Crimea's Zaliv Shipyard has struck a cooperation agreement with Russia's Vyborg Shipyard.
Austal deal delayed Condor Ferries of the UK needs more time to decide whether to press on with its purchase of a newbuilding from the Austal yard in Australia.
BBR profit bashed Indonesian offshore owner sees Q1 earnings cut back as revenue falls.
Danske charts cape spike Danske Bank has delivered a bullish view for the depressed capesize market suggesting both earnings and stocks are poised to spike.
Drunk master arrested A drunk master was arrested after his cargoship ran aground off Helsingborg in Sweden.
HMM linked to buy Korea's Hyundai Merchant Marine (HMM) has been tipped as the buyer of its parent group's logistics business.
Atlantic takes $15m Singapore's Atlantic Navigation Holdings has lined up a shariah-compliant facility to reduce financing costs.
Albedo hostages freed Pirates have released 11 crew members from the ill-fated vessel Albedo having held them for over three years.
Coastal car plan The Indian government wants to ship new cars around the coast from Chennai to Gujarat to save on fuel.
China pursues Xu Minjie Ex-Cosco vice president Xu Minjie could be facing a trial for corruption after being dismissed from the Communist Party.
Mipo adds LPG double Hyundai Mipo of Korea has announced a new contract to build two LPG carriers costing $104m in total.
Rowan's full house Rowan Companies has secured employment for the last of its drillships under construction at Hyundai Heavy Industries.
Aurora LPG eyes IPO Norwegian gas player Aurora LPG looks set to list in Oslo by the late summer the company has disclosed.
Kensico comes clean Kensico Capital Management has become Dorian LPG's largest shareholder after completing a share swap with Scorpio Tankers.
Teamsters oppose HOS delays The Teamsters president wrote to the House of Representatives to oppose amendments to delay some provisions in the Federal Motor Carrier Safety Administration's hours-of-service rules and to increase the size of double-wide trailers.
NY/NJ Port says it's ready for summer cargo volumes The agency said "unprecedented collaborative efforts" have put the port "in a better position to handle both current volumes and any potential diversions from the West Coast." Last summer, there were long waits for truckers at the port.
Pork drivers get HOS exemption "Pigs don't sweat, so we can't have them sitting on a truck for 30 minutes in the height of summer," the National Pork Producers Council's president, Howard Hill, said after the DOT waived the 30-minute break rule for one year.
Highway Trust Fund tops House GOP's June agenda House Majority Leader Eric Cantor, R-Va., is gearing up to offer a proposal to fix the Highway Trust Fund by the end of the month, according to a legislative agenda update for June he sent Friday.
Canada completes Asia-Pacific Gateway projects
MOL names new president/CEO Richard Craig has been promoted to president and chief executive officer of MOL (America) Inc., the company announced Monday. Craig has 34 years of experience in the container shipping industry, with 11 years spent at MOL.
Ice still impacting Great Lakes trade
Independent truckers want FMCSA head gone
Intermarine to offer regular service to Med and Persian Gulf
Analysis: Spike predicted in ECA fuel premium Recent ECA premium of 10-20% rising to 50-60% at current MGO prices, but pressure on supply could mean 75-95% premiums in 2015.
ENOC in Cyrpus deal Agreement made during Posidonia, according to report.
Bunker barge operators 'on strike' 'Suppliers cannot quote for enquiries in Yeosu.'
Prices soft across Europe Public holiday in many European countries.
Prices in Fujairah struggle to find clear direction Prices falling in Suez.
Shipowners should 'be aware of the risks of buying cheap' Long-term relations with established bunker suppliers reduce the chance of fraud.
Commodities' trader buys refinery Sale forms part of expansion plan with move into liquids.
Finnlines' scrubbers: Ready for 2015 Scrubber manufacturer and ferry company outline timeline on progress.
Vessel evades arrest after bunkering Observers say the case could undermine Malta's reputation as a maritime centre.
Study identifies MGO/scrubber tipping point Research looks at what price differential will make distillate or scrubbers the best choice.
Shipowners in 'confidential trials' of low sulphur fuels Refiners experimenting with new product blends.
MGO prices weaken across Asia Supplies keep stable across key regional ports.
Chinese port introduces shore power facility Facility estimated to save each vessel $160 on fuel per day.
Maldives SEZs to include bunkering facilities President Abdulla Yameen takes first step in establishment of special economic zones.
Illicit bunkering costing Malaysia millions Malaysia enforcement agencies not doing enough, says source.
Chinese navy sends bunker vessel into disputed waters Ship can bunker two warships at the same time, claims navy.
OW Bunker creates new role for Asian market New position filled by ex-finance manager.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
