'Catastrophic' US port shutdown feared America's shippers have called on President Barack Obama to intervene in a dockworker labour dispute, fearing that a full shutdown of every West Coast port is imminent. The Pacific Maritime Association (PMA), which represents West Coast carriers and container terminal operators, claimed on 6
Marshall Islands flags 201st ship in Korea A total of 201 vessels owned or operated by Koreans have been registered in the Marshall Islands (RMI) since 2007, the flag register said. As of the end of October 2014, the RMI fleet stood at over 112M gross tonnes and 3,300 vessels. Korean owners follow Greece, the United States and Norway as the
DSME wins Awilco VLCC pair Daewoo Shipbuilding and Marine Engineering (DSME) has won an order for two VLCCs from returning Norwegian shipowner Awilco Eco Tankers. The two 320,000dwt vessels - reportedly priced at about $97M each - are expected to be delivered at the end of 2016 and early 2017. The previous two VLCCs ordered
Fujian Mawei poised to win mining vessel China's Fujian Mawei Shipbuilding is poised to win an order for a mining vessel. This follows the seven offshore vessels recently ordered at the yard and its Marine Assets Corp. The newbuilding will have an overall length of 227m, beam of 40m and able to accommodate 180 people with delivery
Hanjin secures Golden Union cape pair The Hanjin Heavy Industries & Construction (HHIC) order reported earlier this week for up to two capesize bulkers from a Greek owner can be revealed as returning Greek shipowner Golden Union. The deal is one firm and one optional 179,800dwt eco-designed vessel, which will bring the owner's total on
CTS container freight price index hits seven-month low An index that covers both spot and contract rates in container trades hit a seven-month low in October. The Container Trade Statistics' (CTS) global aggregated price index fell by one point to 84 in October, its lowest reading since March and close to the floor of its 83 to 87 point range, in which
DSC Wolverine for Barrick Gold US-based manufacturer DSC Dredge has supplied a Wolverine Class cutter suction dredger to Canadian company Barrick Gold Corp to aid its gold mining operation in the Dominican Republic. The 21m-long, Caterpillar-powered Wolverine, which can dredge to 7.6m and has a 25cm discharge configuration, will
Owners warned about 'model' breaking yards The practice of inviting media and stakeholders to view "model" shipbreaking yards in India and Bangladesh has been criticised by ship recycling activists. NGO Shipbreaking Platform's executive director, Patrizia Heidegger, spoke to IHS Maritime today on returning from a trip to the region. She
DNB expects minimal Saudi oil production cut DNB Markets in Oslo does not expect Saudi Arabia to cut oil production to defend crude prices by more than 0.5Mbpd in 2015, which is good for tanker owners, shipping analysts at the investment bank said. The reason behind the forecast limited cuts is that the country is looking to defend total
China's steel shipment to drop 4% in 2015 China's steel industry is projected to generate 1.2Bn tonnes cargo volume in 2015, slightly down by 4% year on year (y/y) from the estimated 1.25Bn tonnes this year, stated China Iron and Steel Association (CISA) at the World Shipping (China) Summit 2014. The output and demand of the nation's steel
Container shipping overcapacity to continue Global container shipping overcapacity is expected to last until 2019, stated Boston Consulting Group (BCG) at the World Shipping (China) Summit 2014. Annual capacity growth may slow down to around 11% in 2019, while global throughput increase is expected to reach 10% in 2019 from the current 13%
Ports in eastern Indonesia lag behind Indonesia's ports are improving, but are held back by a bias towards the western part of the archipelago nation, sources have told IHS Maritime. "Progress has been most substantial in western Indonesia. In eastern Indonesia, progress has been much more limited," Henry Sandee, a senior trade
Ultramax orderbook limits freight upside The number of Supramax and Ultramax bulkers on order is about 33% of the active fleet and this presents challenges to freight recovery. The sector has been feeling the heat from a lack of Indonesian raw ore exports, after the resource-rich country banned the shipments of unrefined bauxite and
MISC 3Q profits up 15.6% Malaysian state-run ship owner MISC has reported a 15.6% jump in 3Q14 earnings. The company earned a profit of MYR497.56M ($148.7M) during the period. The higher earnings were primarily due to improved freight rates in petroleum business and higher earning days in LNG business. However, a smaller
China approves fourth phase of Yangshan port The building of the fourth phase of the Yangshan Deep-Water Port has won green light from China's national economic planner, according to the local government in Zhejiang province. The National Development and Reform Commission had approved the project located in Yangshan in Zhejiang province in
Insight: Emission control areas On 1 January 2015, in accordance with MARPOL Annex VI, the permitted limits on sulphur (SOx) in sulphur emission control areas (SECAs) in the Baltic and North Sea, and emission control areas (ECAs) in North American and the US Caribbean will drop from 1% to 0.1%. In order to meet these new
Insight: Nature beckons at Waterdunen IHS Maritime's Bert Visser reviews progress on the Waterdunen dredging project, which will give the Netherlands its first controlled tidal zone with mud flats, creeks, and gullies. Fancy booking a holiday next December for scenic walking and camping on 300ha of newly dredged land in the
Deployment of new rig revives Perisai Petroleum Malaysian offshore oilfield service provider Perisai Petroleum showed improvement in its 3Q14 results, compared to 2Q14. The company earned MYR5.792M ($1.73M) for the period, which was down 91% year on year from MYR26.07M in 3Q13 but better than the MYR961,000 profits for 2Q14. The plunge in
Ezion Holdings 3Q profits up 24.5% Singapore-based offshore oilfield service provider Ezion Holdings' 3Q14 profit went up 24.5% year on year to $94.9M. The increase in revenue was mainly due to the chartering contribution from the deployment of additional units of Ezion's service rigs and liftboats. However, CIMB Securities
Maersk Line fined $8.7M in fraud case US-flag carrier Maersk Line Ltd has paid $8.7M to resolve an investigation involving hundreds of false cargo claims for shipments to Afghanistan, federal prosecutors have revealed. The settlement, announced on 5 November by the US Attorney's Office for the Southern District of Illinois, was the
Baltic Sea aframax earnings jump $5,000 in a day Jump was biggest out of all reported crude tanker routes
Asia-Europe volume growth eases in September But up 6.2% on the level recorded last year
No probe in China for 2M but it's on the radar Top Ministry of Transport officials express support for vessel-sharing alliances but will keep an eye on 2M trade share
Scorpio Bulkers lands $40m bank loan commitment Loan will be used to finance two kamsarmaxes being built in China
Asia-Europe prices fall 10% to erode November GRIs Carriers will seek further increases prior to 2015 amid reports of further declines, say brokers
Costa Rican dockers end wildcat strikes Longshoremen return to work to avoid possible sanctions and docked pay
Black Sea-Mediterranean Sea suezmax earnings rise 50% in a week Delta Tankers takes advantage of high rates
Shippers urge Obama to step in to avoid US port strikes A coalition of shippers, forwarders and transport associations has warned the president of the consequences of a west coast ports shutdown
Cost of bunker fuel hits fresh low If bunker price falls further, VLCCs could see spot earnings rise to $70,000 per day
Week on Wall Street | November 7 Growing debate expected on US crude ban now that Republicans control the Senate
MISC sees 20% jump in operating profit on lower costs Smaller fleet and steady LNG business help boost results
Tempers fray on US west coast as unrest spreads to LA and Long Beach Contract negotiations continue but tension rising after employers accuse ILWU of escalating industrial action
Cape retreat 'Lack of confidence' in the market and direction 'difficult to call right now'
Matson results improve on better Hawaii demand Company notes that competitor will add capacity next year
Yang Ming sees tailwinds from lower bunker price Better nine-month results for Taiwanese box carrier expected on cost control
'Everyone has to pitch in' to fix LA-LB problems, Seroka says The executive director of the Port of Los Angeles called upon the Pacific Maritime Association, the International Longshore and Warehouse Union, terminal operators and PierPass Inc. to do everything within their power to clear out the congestion that is devastating the Southern California port complex. "Everyone has to pitch in," Gene...
Marad extends VISA program to 2019 The Maritime Administration has extended its Voluntary Intermodal Sealift Agreement program, which provides the U.S. military with assured access to commercial sealift and intermodal capacity, until Oct. 1, 2019. VISA was established in 1997. Companies participating in the program agree to provide their vessels and intermodal systems available to the Defense...
Ports, customers focus more on metrics Port authorities, ocean carriers, terminals and shippers are paying closer attention to operational metrics such as truck turn times to guide their decisions on where to route cargo or deploy ships. "We need to measure ourselves in order to be able to show the value we provide," said Bethann Rooney, assistant...
CSX's Virginia Avenue Tunnel project pushes forward The Federal Highway Administration has approved a preferred construction alternative for CSX's Virginia Avenue Tunnel project, paving the way for the 110-year-old, 4,000-foot tunnel to be reconstructed for double-stacking container services after intense pushback from local residents. The decision marks the completion of an environmental review of the project conducted jointly with...
CTS reports September drop in trade from Asia on most routes Full-size chartVolumes were down in September on the majority of trade lanes leaving Asia, with the exception of lanes to North America and Australia, according to Container Trades Statistics. CTS reported an 11.3 percent drop in Asia-Europe container volumes in September from the month before. CTS data showed volume in the...
JOC Trucking Employment Index rises in October, but so does freight demand The JOC For-Hire Trucking Employment Index rose 0.3 percentage points to 98.1 in October, as hiring boosted trucking payrolls to levels not seen since December 2007. Freight demand, trucking companies say, is rising faster, which means motor carriers still face shortages of drivers, mechanics and other personnel needed to move more...
Antwerp seeks proposals for LNG bunkering station The port of Antwerp is soliciting proposals from companies interested in operating a liquefied natural gas bunkering station, in order to meet growing global demand for the alternative fuel. The LNG station operator would be responsible for providing barges to Antwerp and would be responsible for maintenance of the facility for...
CSX exec anticipates another bad winter but says rails are prepared With the U.S. Weather Service forecasting a polar vortex will hit the eastern half of the country next week, a CSX executive said the railroads will be better prepared this year to operate in harsh winter conditions than they were last winter. "I'm planning on it being bad," Clarence W. Gooden,...
Oakland port shippers push for faster turn times, longer gate windows While at least one carrier next week plans to call on the Port of Oakland instead of Los Angeles because the northern California port isn't facing congestion, Oakland shippers are still urging for faster turn-times and longer terminal gate windows. Both importers and exporters urged the port to prepare for volume...
Finnlines' quarterly results are best in eight years Finnlines posted its best quarterly result in eight years and said full-year earnings could be the best since 2000 as it continues to boost cargo volumes in the face of economic uncertainty in its core Baltic Sea market. The Finnish short-sea carrier earned 36.9 million euros ($46 million) before interest, tax,...
FMC's Lidinsky calls for global regulation of ship alliances Federal Maritime Commissioner Richard Lidinsky called for global regulation of container shipping alliances today. Lidinsky told the European Maritime Law Conference in London that the four major alliances now taking shape will control 95 percent of the cargo moving in the global container trade. He said the container industry needs a "global...
Counting on common sense to tackle port congestion John Cushing, president of PierPassThe Ports of Los Angeles and Long Beach are experiencing the most serious congestion in years. While a broad range of factors have contributed to the situation, there is widespread agreement in the industry that the largest single problem right now is a shortage of available...
Trucking lobby urges Congress to pass spending bill, not the buck WASHINGTON - The largest U.S. trucking advocacy group wants Congress to pass an omnibus spending bill during its "lame duck" session, not a continuing resolution that simply extends funding for a few months, before calling it quits and turning responsibility over to the next Congress. "There is no good reason to...
Major CP investor suggests railroad could buy NS The activist investor who wrestled control of Canadian Pacific Railway in 2012 reignited speculation that the Calgary-based railroad would acquire a U.S. counterpart by suggesting Norfolk Southern Railway might be the next target. Although Bill Ackman didn't explicitly name NS, he did say there is a risk for CSX Transportation that...
German rail strike to end Saturday - 36 hours earlier than planned Striking German locomotive drivers will return to work tomorrow evening, 36 hours earlier than planned, to avoid disrupting celebrations on Sunday to mark the 25th anniversary of the fall of the Berlin Wall. The strike, which began on Oct 5, has stalled freight shipments, particularly of auto parts, steel and chemicals,...
Europe's ports brace for intra-terminal rivalries and overcapacity Hanjin container ship at the Port of RotterdamEurope's top container ports are hunkering down for a potentially tumultuous 2015 dominated by a growing capacity glut and slowing cargo growth that will make the congestion of the past year appear like a minor irritant. On the surface, everything looks fine. Rotterdam and...
KRG finds buyers Iraqi Kurdistan's natural resource minister has confirmed that the Kurdish Regional Government (KRG) has no difficulty in finding oil buyers as exports from the Turkish port of Ceyhan jump.
Vallianz profit up 61% Vallianz Holdings' profit has gone up following a more than five-fold jump in revenue during the third quarter.
Star Bulk raises $50m Greece's Star Bulk Carriers could target new vessel acquisitions with the $50m proceeds of a notes sale.
Kyoei earnings jump Japan's Kyoei Tanker has pushed up profit in the first six months as revenue grew.
Three held in the UK The Maritime and Coastguard Agency (MCA) detained three vessels in September at the ports of Southampton and Teesside.
AKOFS strong in Q3 AKOFS Offshore has boosted its revenue during the third quarter and saw its EBITDA soar thanks to a vessel's five-year charter.
Vale "shrinks the world" Brazilian miner Vale has inaugurated its new $1.4bn port terminal in Malaysia to cut the costs of shipping iron ore to China.
Fesco heading south Russian line Fesco has won a deal to supply Argentinean research bases in Antarctica.
Maersk settles with US Maersk has agreed to pay the US government $8.7m as the result of a civil settlement over hundreds of cases of missing containers and forged documents.
Caliphate cruising A crackdown on would be jihadis flying to join Islamic State fighters in Syria has led to some going by sea.
Finnlines flourishes Finnish ro-ro owner Finnlines has posted a big jump in third quarter earnings under the leadership of CEO Emanuele Grimaldi.
Atlantic suffers in Q3 Lower charter levels have hurt Atlantic Navigation's performance during the third quarter as it saw both revenue and profit drop.
Italian cooperation Italian shipbuilder Fincantieri is teaming up with Technip to target a bigger offshore market share.
MISC boosts profit Malaysia's MISC has ridden a marginally higher revenue to a 16% increase in third quarter profit.
Schulte crew criticised German shipmanager Bernhard Schulte has been criticised in a UK accident report after a Navigator Gas LPG carrier grounded in the North Sea when its watch officer became distracted.
Olsen upgrades trio Fred. Olsen Cruise Lines is sending three cruiseships to a German shipyard for refurbishment ahead of the 2015/16 season.
Wenchong profit rising China's Huangpu Wenchong shipyard is increasing profit as its ownership is transferred to Guangzhou Shipyard International (GSI).
Gone to the dogs? We take a look at what was said in the market over the past week.
KNOP profit doubles KNOT Offshore Partners (KNOP) has seen its third quarter profit almost double from a year ago on the back of a fleet expansion.
MAC books Mawei miner Marine Assets Corporation (MAC) is poised to order a sea floor mining vessel on the back of a long term charter.
Legal action snares Teekay Teekay Offshore Partners (TOO) looks to have become involved in a legal wrangle over the acquisition of six long-distance towing vessels.
Torm sticks to target Torm remains confident of completing a restructuring deal with Oaktree Capital despite concerns disgruntled hedge funds could derail the process.
Mermaid charters in Mermaid Maritime has chartered in three additional vessels in the past month to take on new projects.
Hedland set for strike Tugboat engineers at Australia's Port Hedland, the world's largest bulk export terminal, are set to strike next week.
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.
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