Maersk Line returns 14 boxships KG fund says all the vessels have already been sold on
Has Maersk placed a winning bet on product tankers? As the Danish giant reshapes its tanker business a lot of eggs are being put in just one basket
Diana launches preferred share offering More acquisitions and debt paydowns flagged as possible uses of funds
Nordic American Tanker sees losses grow But suezmax owner looks forward to first quarter results on market improvements
More transparency can minimise casualties, says IACS chief Industry body urges operators and regulators to exchange information
Global box volumes grew 2% last year Weak Mediterranean demand makes its mark as 2013 world total edges up to 127m teu
Avance Gas set for major LPG fleet expansion New joint venture eyes growing opportunities to export US gas
Maritime Maisie continues to navigate a sea of uncertainty Tanker must discharge cargo but Japanese waters 'do not exist', says coastguard
Singapore confirms its third collision in two weeks Incident involving containership and tanker spills 80 tonnes of bunker oil
Cancellations boost bottom line for Precious Shipping Vessel-operating income is flat but $31m in gains flows from changed shipyard orders
P3 lines aim for late March clearance in US FMC has 45 days to review fresh information filed on Friday
Maersk Tankers confirms two medium range product tankers South Korea order brings refocusing of group's total bookings to six firm vessels
Longer-term growth in LNG shipping will come at a short-term cost Demand is heading for an upturn, but rates are falling and more ships are due to the hit the water
Genco could skip coupon payment Debt restructuring doubts may stop dry bulk operator 'throwing money out the door'
Imtech Marine to refit bridge systems Imtech Marine USA will refit the bridges of three Holland America Line cruise ships starting in April, the marine service provider said on 10 February
NAT highlights rate improvement Nordic American Tankers (NAT) reduced its losses in the final quarter of 2013 compared with the year before and reported rising rates and improved fundamentals in early 2014
Box ship collides with chemical tanker in Singapore There has been another collision between a container ship and a chemical tanker in Singapore
Brighter outlook for small container ships German shipbrokers have lifted their outlooks for small charter container vessels despite the current market lull
Golden Ocean acquires three Kamsarmaxes Golden Ocean Group has acquired three 2012 Korean-built 81,500dwt Kamsarmax bulk carriers, the company has announced
Condor Ferries hit by strike Condor Ferries services between the Channel Islands and the French port of Saint-Malo were out of action for a fifth day on 10 February as the company sought to reach agreement with French seafarers over pay and conditions
Otto Marine seals $40M AHTS contract Singapore-based offshore vessel owner Otto Marine has secured a $40M charter contract for an anchor handling tug supply (AHTS) vessel
Containership capsizes, five missing A chemical tanker and a containership collided early today off the Pearl River Delta, resulting in the containership capsizing and five crew members missing, local authorities said
'Chaos' as Ocean Carriers Exit Chassis Ownership A chassis-shortage contagion that has plagued the three largest U.S. ports since late last year is a stark reminder to cargo interests, trucking companies and waterfront labor that the cozy world of ocean carrier-owned chassis has come to an end. A new world in which equipment-leasing companies and chassis pool operators...
P3 Could Sail Past US Regulatory Hurdle by Late March WASHINGTON - The P3 Network could be sailing past any U.S. regulatory hurdles by late March, after the three largest container lines responded on Feb. 7 to the Federal Maritime Commission's questions on their vessel-sharing alliance, which would be the largest ever in terms of capacity deployed. The commission is currently...
Postponed Deliveries, Scrapping Cut Capacity Growth Forecasts New estimates on postponement of ship deliveries and scrapping are already tamping down estimates on capacity tonnage growth this year. Citing "increased deferrals and scrapping estimates," Alphaliner is forecasting global capacity to grow 6.6 percent this year, down from 7.6 percent predicted as of late last year. Estimates for capacity growth are...
NY-NJ Terminals Battle Ice, Backlogs New York-New Jersey container terminals reopened on Feb. 10 to long truck queues as the terminals struggle with ice, congestion and delays that truckers say are causing cargo to be routed to other ports. The most severe congestion last week was at Maher Terminals. Today, it was at APM Terminals and...
Ocean Carrier Rate Revision Roundup for Feb. 10 Major container lines hope to increase rates in multiple trade lanes in March, April and May, although any hikes achieved could be fleeting. Carriers' schedule reliability was down in 2013 and is expected to decline further in the next few months, as carriers continue to focus more on cost-cutting than on-time...
KCS to Aggressively Defend Mexican Concession Agreement Kansas City Southern Railway said Friday it will aggressively defend its concession agreement in Mexico but declined to say whether it would pursue legal action against a bill aimed at opening the country up to railroads other than the two existing concession holders. The Mexican House of Deputies on Feb. 4...
JOC Trucking Employment Index Rises JOC For-Hire Trucking Employment Index Full-size image The JOC For-Hire Trucking Employment Index climbed to 96.1 in January from a revised reading of 95.9 in December and November, as trucking companies surveyed by the Bureau of Labor Statistics hired about 3,200 workers. Revised figures for November and December brought the index lower than...
FMC Faces New Questions Over OTI Proposal WASHINGTON - Two months before sponsoring a bill this week aimed at reforming the Federal Maritime Commission, Rep. Duncan Hunter, the California Republican who chairs the House Coast Guard and Maritime Transportation Subcommittee, urged the FMC to consider industry criticism of a proposed overhaul of rules for ocean transportation intermediaries...
DSX plots expansion Greek bulker operator Diana Shipping has been added to the growing list of US-quoted shipowners that have turned to the capital markets for cash to fund fleet expansion.
Bondholders lose patience Bankrupt US tanker owner Overseas Shipholding Group (OSG) has cleared a number of hurdles on the road to redemption but some of its creditors seem to believe the Chapter 11 restructuring has dragged on for far too long.
Shetland Line sues A ferry operator is suing the Scottish government after losing out on a multi-million pound contract to run ships from the mainland to Orkney and Shetland.
Navig8 makes big LR1 move Singapore's Navig8 has been linked to a big bid to boost its LR1 presence with orders for up to 16 new ships in Korea.
Tsakos stretches one Tsakos Energy Navigation has extended the time charter contract on a product tanker at a "significantly improved" rate.
Farstad builds spot fleet Farstad has thrown its newest anchor handling tug supply (AHTS) vessel straight into the North Sea spot market.
Stephanou buys in Greek owner Goldenport Holdings has appointed its recently recruited investor relations chief Alexis Stephanou to the CFO role.
NAT loss grows Suezmax owner Nordic American Tanker (NAT) has posted a bigger loss in the final quarter of 2014 as revenue shrank.
Gulf Nav stock soars Shares in troubled Gulf Navigation (Gulf Nav) soared today after the company reported its preliminary financial results for 2013.
Boreal adds double Boreal Transport Nord of Norway has ordered two more ferries at the domestic Fiskerstrand Verft yard.
Boxship and tanker clash A containership and a chemical tanker have collided in yet another accident in Singapore's waters.
PDZ eyes offshore Malaysian liner company PDZ Holdings is eyeing a move into the oil and gas sector with a potential new investor.
Farstad dumps oldie Farstad Shipping has offloaded its oldest platform supply vessel (PSV).
Turkish cargoship sinks A power failure and subsequent cargo shift has been blamed for the loss of a Turkish vessel in the Black Sea.
NAO adds PSV double Newcomer Nordic American Offshore (NAO) is adding two more platform supply ships (PSVs) through a second deal with Norway's Ulstein Group.
Pac Radiance reins in more Pacific Radiance has secured fresh charter contracts worth $59m from repeat clients in Asia.
Golden Ocean swoops for trio John Fredriksen-backed Golden Ocean Group (GOGL) has snapped up three modern kamsarmax bulkers.
Maersk adds MR options Maersk Tankers has increased its MR order at South Korean shipyard Sungdong Shipbuilding & Marine Engineering to six ships.
Pappas moves for VLCCs Greece's Oceanbulk has returned to Hyundai Heavy Industries in Korea for its first tankers.
Aratere Keppel bound A New Zealand interisland ferry is heading to Singapore for repairs that will see the ship out of action for weeks.
Arms ship free to go A North Korean ship arrested in Panama over a Cuban arms cargo has been freed according to the Panama Canal Authority (ACP).
Otto North Sea bound Otto Marine has secured a charter for a recently delivered anchor handler newbuilding for work in the North Sea.
Bourbon back at Vard Vard Holdings, the Norwegian shipbuilder, has won a newbuilding contract from Bourbon for an Arctic-capable anchor handler.
Portland to spend up to $4 million on subsidies to keep container service The commissioners of the Port of Portland, Ore., will consider a program to spend up to $4 million on incentives to keep container carriers calling the port when they meet on Wednesday.
Analyst: Maersk will do fine with or without P3
DB Schenker launches new Asia service for faster freight
Integrators look for bigger healthcare market share
Virgin Atlantic reports strong gains in 2013
Rail Intermodal shipments up 4.6% in 2013
ACP, contractor revive talks over stalled Canal project
Panama Canal fines N. Korean vessel for violating rules
Jack Muhs named head of FedEx Trade Networks
U.S. promotes 'Made in Rural America' exports "This initiative is charged with bringing together federal resources to help rural businesses and leaders take advantage of new investment opportunities, and access new ... markets abroad," the White House's Rural Council said.
Executive moves
Cass Freight Index projects a 'bumpy ride' Shipment volumes and freight expenditures continued their decline in the new year, with a "bumpy ride" predicted for the future, according to January's Cass Freight Index Report.
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