Chemical and product tanker owner Ardmore expands its fleet New York-listed firm buys secondhand ships amid bright prospects for chemtankers
Aker Philadelphia unveils new Jones Act company Shipbuilder taps Apollo and American Shipping Co in product tankers venture
US trade associations urge scrapping of 100% box-scanning requirement Powerful group issues plea to Homeland Security chief after after a second two-year delay
Valencia port facing legal action from Noatum as anger mounts over terminal concessions MSC's private facility at the centre of controversy over loss of business from public terminals
Henderson sets up marine division Insurance broker will focus on regional clients
Chinese policy banks continue to woo Greek owners But the lenders give priority to offshore, eco-design and hi-tech orders
Payment default costs JES International holding firm a 7% stake Lyceum Partners takes shares in the China-based, Singapore-listed yard
Panayotides sells stake in Excel Parting 'jointly decided' says new statement
Beijing punishes former Cosco Group vice-president over expenses claims Communist Party expels Xu, the most senior maritime casualty so far in state anti-graft probe
LNG could herald a golden gas age for China, says International Energy Agency Can LNG win out over cheap coal?
Bulker rescues more than 300 people in Mediterranean Jupiter Bay picks up migrants sailing in wooden boats from North Africa to Italy
Dalian Port plans $161m dim sum bond Hong Kong-listed port offering will be its second in this market
Week on Wall Street | June 10 FREE CONTENT: Slightly late this around to help you to catch up after Posidonia
Singamas says the US will pursue anti-dumping probe Washington will rule on countervailing duty case against Hong Kong boxmaker in July
Data Hub: Load Factors - Americas Ups and downs on the transatlantic following the impact of alliance-related service adjustments
Jebel Ali expansion to benefit from sustainable growth DP World will open a 4m teu terminal later this year as other ports look to capitalise on the growth
Obama signs pivotal port bill US President Barack Obama has signed legislation that port officials and the dredging industry believe will jump-start harbour deepening and expansion projects. The Water Resources Reform and Development Act, signed by Obama on 10 June, streamlines federal permitting for navigational dredging while
US shippers seek box scan repeal Long delayed regulations that would require all containers to be scanned before entering the US should be repealed, according to a coalition of American business interests. In a recent letter to US Department of Homeland Security (DHS) Secretary Jeh Johnson, 71 manufacturers, retailers, and other
Jones Act tanker JV unveiled Newcomer Philly Tankers is set to debut in America's Jones Act market in 2016 and hopes to secure a US public listing the same year. Oslo-listed Aker Philadelphia Shipyard (AKPS) announced on 10 June that it will invest $58.5M for a 54% stake in Philly Tankers. The remaining 46% will be purchased
German owners pool heavy lift tonnage German shipowners Harren & Partner and Briese have launched a commercial pool for medium-range heavy-lift multipurpose vessels. BHS Pool Weser-Ems combines 15 ships in the 7,000-16,500dwt range with lifting capacities up to 800t. Briese subsidiary BBC Chartering, the world's largest project tramp
BW Offshore selects IHI for FPSO BW Offshore, the Oslo-listed floating production, storage, and offloading (FPSO) unit operator, has picked IHI to construct an FPSO at a cost of about $195M. The vessel will operate on the Catcher oil field in the North Sea, which is owned by Premier Oil (50%), Cairn Energy (30%), and MOL (20%). BW
Vard aims for largest ever vessel deal Singapore-listed Vard Holdings has announced confirmation of a letter of intent for an offshore subsea construction vessel (OSCV) that will form the biggest single vessel order in Vard's history. The letter of intent was signed with Solstad Offshore on 11 March 2014. Scheduled for delivery from Vard
Tsakos ship orders total $1Bn Tsakos Energy Navigation (TEN) has $1Bn worth of ships on order and "a lot of fixtures", Michael Jolliffe, co-founder and vice-chair, told IHS Maritime. Most of these ships on order are "already chartered to oil companies", he added. "We already have nine Aframaxes lined up with Statoil," he told
Qingdao Port shares fall on third day of trading Shares in China's Qingdao Port International have slid, just three days after debuting on the Hong Kong stock exchange. The shares closed at HK$3.63 on 10 June, down from last week's list price of HK$3.76 per share. The company is looking to raise HK$2.49Bn ($321M) from the IPO. HK$2.24Bn will be
Tsuneishi secures Kamsarmax newbuilding trio Japan's Tsuneishi Shipbuilding has secured three Kamsarmax bulker orders from Japanese owners, with two from Nissen Kaiun and one from Hisafuku Kisen. Two 81,500dwt 'eco' vessels for returning customer Nissen Kaiun will be built at Tsuneishi Heavy Industries, Cebu, with delivery scheduled for
Korea P&I Club COO urges safety push Korea Shipowners' Mutual Protection & Indemnity Association (Korea P&I Club) COO Park Bum Shik has called for greater efforts to prevent accidents in light of the Sewol tragedy. In a statement on the club's website, Park, a 38-year maritime veteran, expressed his devastation and called on his
U-Ming post TWD1.6Bn net profit for 2013 Taiwanese bulk carrier U-Ming Marine announced yesterday that its net profit totalled TWD1.6Bn ($53.35M) for 2013, down 11% from TWD1.8Bn in 2012. However, with consolidated revenue of TWD7.4Bn, U-Ming's performance put it among the best of Taiwan's bulk shipping firms. A cash position of TWD13.7Bn
Strike disrupts bunker trade in South Korea A strike at South Korea's Yeosu Port has hit bunkering at the port. "Suppliers cannot quote for inquiries in Yeosu," said a Seoul-based bunker trader. "This strike may last till this Wednesday, so I think bunkering-only vessels will go to Busan area, and then Busan barge schedules are getting
Pelindo III orders Konecranes ARTG system Indonesian state-owned terminal operator PT Pelabuhan Indonesia III (Pelindo III) has ordered an automated rubber-tyred gantry (ARTG) crane system from Finnish crane maker Konecranes. Delivery is scheduled for 2015 for the order, set to be the world's first ARTG system in commercial operation. The
Body found after dredger collision The body of a woman whose yacht collided with a dredger off the port of Felixstowe, eastern England, was found last night. The yacht collided with Boskalis Westminster's trailer suction hopper dredger Shoreway at approximately 13.30 local time on Sunday in clear, calm conditions. The yacht sank very
KLC wins $153M coal shipment contract Korea Line Corporation (KLC) announced yesterday that it has signed a long-term contract for delivering coal to Korea Southern Power worth KRW157Bn ($153M). The transaction accounts for 29.31% of the company's sales in its latest fiscal year. A Capesize bulker will deliver 1.61M tonnes of coal
Sewol crew to be tried Fifteen crew members of the Sewol ferry, which capsized on 16 April, will go on trial for manslaughter today. A report from an advisory panel comprising professors, researchers, and CEOs of shipping companies has been submitted to the courts as evidence. The team's investigations concluded that the
Sewol search takes new direction The government taskforce handling the salvage operations for the capsized Sewol ferry has decided on a three-step plan for the recovery process. A press statement from South Korea's Ministry of Oceans and Fisheries said divers will continue to search the Sewol cabins until 20 June. After that,
Indian ship recycling market comes down Last week's Posidonia show and the rupee's weakening combined to take the shine off South Asian ship recycling markets. India had been the market of the moment after Narendra Modi's election triumph last month. But the events last week have shaved as much as $20/lt ldt off Indian ship recycling
VLGC rates exceed $100/tonne mark again Freight rates to ship LPG on very large gas carriers have once again exceeded the $100/tonne mark as vessel supply tightens in the Arabian Gulf. The Baltic LPG index yesterday assessed rate for the benchmark Arabian Gulf-Far East at $107.875/tonne, working out to daily earnings of $93,738, based on
Investors 'prefer' offshore small cap stock Small cap stocks in Offshore Oil and Gas service sector are preferred, according to Yeo Kee Yan, analyst from DBS Vickers Research. Yeo recommended shares of Ezion Holdings, Vard Holdings, Nam Cheong, Pacific Radiance and PACC Offshore Services Holdings Limited (POSH) as top picks. "[The]
New benchmark price set for modern VLGC Norway's Aurora LPG, a recent entrant to the LPG shipping business, is said to have paid up to $90M for a modern VLGC, setting a new benchmark in the sales-and-purchase market. Brokers told IHS Maritime that Aurora LPG has bought the 2009-built Progress from Transpetrol Maritime Services. In
China coal imports down China's coal imports fell in volume during the first five months of the year, down 0.9% y/y. The imports totalled 130M tonnes during the period, with the average import prices down 15.3% y/y to CNY489.4 ($79.6) per tonne, according to China's latest customs statistics. In May, the coal imports
Genco heads to court showdown The restructuring plan backed by Genco's management and debt holders faces a final bankruptcy court challenge from the equity holders committee. A confirmation hearing will begin in New York on 12 June to rule on the pre-packaged Chapter 11 restructuring plan. That scheme calls for most of the
PIERS: US containerized imports up in May U.S. containerized imports rose 5.9 percent year-over-year in May. Full-size chart U.S. containerized imports jumped for the third straight month in May, rising 5.9 percent year-over-year. Preliminary numbers released by PIERS, the data division of JOC Group, Inc., show strong improvement in containerized imports. Carriers brought 1.63 million TEUs into the U.S. in...
NY-NJ port hopes gridlock is history It's still early, but there's growing optimism that the Port of New York and New Jersey will make it through the next few months without a repeat of the gridlock that plagued the port last summer and winter. %quot;We're pretty confident that we won't have the same level of problems we...
Global redesigns safety switch, defusing ILA labor issue Global Terminal has defused a labor issue at its new semi-automated container terminal by redesigning a trucker safety device that the International Longshoremen's Association had claimed jurisdiction to operate. The new terminal is scheduled for a grand opening June 18. it will feature rail-mounted gantry cranes remotely operated by ILA workers....
Hamburg berthing availability sparks G6 service adjustments The G6 Alliance will adjust two of its trans-Atlantic services, the PA1 and AX1, later this month because of berthing window availability. The PA1 service will be moved from Hamburg, Germany, to Bremerhaven, Germany, beginning June 30, with the sailing of the NYK Meteor, with an estimated arrival in Bremerhaven on July...
Test under way of barge-mounted ship emissions collection device A barge-mounted device that captures more than 94 percent of harmful emissions from vessels at berth, at a lower cost than operating the vessels from shore-side electrical power, was demonstrated last week at the Port of Long Beach. Port managers say the barge-mounted Advanced Maritime Emissions Control System, if approved by...
Obama's signing of port bill just the beginning U.S. President Barack Obama signs H.R. 3080, the Water Resources Reform and Development Act of 2014, on June 10, 2014, in Washington, D.C. AFP PHOTO/Mandel NGANMANDEL NGAN/AFP/Getty Images.WASHINGTON - President Barack Obama's signing into law today of major port legislation, the Water Resources Reform and Development Act of 2014, is just one...
Hybrid LTL carrier New Century Transportation shutting down Unable to secure financing needed to keep its trucks rolling, New Century Transportation is preparing to close its doors after 14 years in the less-than-truckload business and file for bankruptcy protection. News of the pending closure - the biggest to hit trucking since the collapse of Arrow Trucking in 2009 and...
Dockworker strike in Brazil postponed A nationwide dockworker strike planned to begin today in Brazil has been postponed, according to maritime service provider Inchcape Shipping Services. Inchcape's local Brazil office received notification from the Union of Shipping Companies that the stevedores' strike, organized by the Union of Stevedores, has been postponed until June 27 at 10 a.m....
Southern Asia poised for export growth Thailand, Vietnam, Indonesia and India are poised to kick their export growth into higher gear over the next five years, as global demand expands and rising Chinese labor costs shift some sourcing elsewhere in Asia. Overall demand for Asian exports won't be nearly as strong as it was in the last...
Faster trains point to improving US intermodal service CHICAGO - U.S. intermodal service appears to be improving even as the major railroads handle a surge of volume, largely driven by shippers accelerating imports through U.S. West Coast ports ahead of the expiration of the current longshore labor contract at the end of this month. Average intermodal train speeds, a...
US West Coast ports: The benefits of change It is well documented that U.S. West Coast ports face a number of competitive challenges. Some of these challenges involve canals, both near and far, old and improved; terminal development throughout North America; challenging and costly environmental regulations; lengthy and often agonizing permitting processes; and aggressive marketing by East and...
Portland banks on infrastructure investment, cargo mix The Port of Portland today is all about growth. Though its container business is lagging, Executive Director Bill Wyatt is convinced the future of the Columbia River port is brighter than ever because of its diverse cargo base and competitive supply chain costs resulting from a combination of ocean, rail,...
$46m for Bender mishap Seacor Marine and Bender Shipbuilding & Repair will receive $46m after striking a settlement deal with engine maker Caterpillar for the 2008 fire that ravaged a newbuilding at Bender's former US shipyard.
German owners unite Two of the German shipping cluster's brightest stars have forged an alliance under a broader bid to combat the downturn in the heavylift segment.
Palumbo clears the air An Italian shipbuilder is pouring cold water on reports that a bulker undergoing repairs at its yard in Malta caught fire earlier this week.
Villy cashes Excel chips Gabriel "Villy" Panayotides has sold all of his remaining stock in Excel Maritime after his ousting as chief executive by private equity powerhouse Oaktree Capital.
Capes spur BDI Main Baltic ticker is reading four figures once again thanks to progress in the capesize market.
Bid in for STX's Turku Finland's government and German shipbuilder Meyer Werft have made a non-binding bid for STX's Turku shipyard.
MMS tries again A Greek tanker owner has loaded the second shipment of Kurdish-controlled crude from Iraq in a move that could lead to legal action.
Ardmore takes two Ardmore Shipping has continued its fleet expansion effort with the addition of two medium range (MR) tankers.
KNOT notches loans Shuttle tanker company KNOT Offshore Partners has refinanced debt with new loans totalling $380m.
Solstad signs for giant Singapore's Vard Holdings has inked the largest single ship contract in its history after Solstad Offshore firmed up an order for a construction vessel.
Bulker arrest ordered An Indian court has ordered the arrest of a Thome-managed bulker following a collision with a fishing boat.
Chem duo join Navig8 Pools giant Navig8 has added two more tankers to its growing fleet.
Wartsila wins dual-fuel deal Finland's Wartsila is supplying the dual-fuel propulsion system for the country's new icebreaker.
IHI clinches BW FPSO Japan's IHI has won the race to build a new floating production, storage and offloading (FPSO) unit for BW Offshore.
ACM broker jumps ship A crude tanker broker has resigned from ACM Shipping as the soon-to-be joined shop moves to cement its planned merger with Braemar Shipping Services.
Helping hand for Hanjin Loss-making Hanjin Shipping is planning to sell new stock to its sister airline to raise more money.
Rokke forges Jones Act owner Kristian Rokke's Aker Philadelphia Shipyard has teamed up with spin-off American Shipping Company to form an OTC listed Jones Act shipowning venture with an eye on the US capital markets.
New yard for Indonesia Indonesia's industry ministry is to build a new shiprepair yard in North Maluku.
ARS eyes orders Argentinian shipbuilder ARS is in talks over new orders as it calls for more state support.
"You are not human" The trial of 15 crew from the sunken Sewol ferry has begun in South Korea.
Cape fire in Malta A capesize bulker was engulfed in smoke on Monday after it appeared to have suffered a fire at the Palumbo Shipyards in Malta.
KLC wins coal contract Korea Line Corporation has secured a consecutive voyage charter (CVC) deal from Korea Southern Power (Kospo).
Phillips buys Beaumont Phillips 66, the US energy company, has agreed to acquire the Beaumont Terminal in Texas for an undisclosed amount.
MSC torches boxship Mediterranean Shipping Company (MSC) appears to have parted ways with another ageing containership.
Politicians, industry react to president's signing of WRRDA President Barack Obama signed the Water Resources Reform and Development Act into law Tuesday, authorizing the Army Corps of Engineers to improve the nation's waterways and ports.
Analyst: Echo Global well positioned for success
Gartner SC conference wrapup: Too much good stuff There are a hundred and one tidbits to be gleaned whenever you gather 1,000 supply chain-oriented IT folks in the same room, such was the case two weeks ago at Gartner's annual executive conference.
Hapag-Lloyd announces $1,000 Asia-Europe GRI The rate increase is substantial compared to current spot rates measured by the Shanghai Container Freight Index, which stood at $1,183 per TEU to North Europe and $1,761 per TEU to the Mediterranean.
AIIS: Steel exports up in April, still lagging for the year
Port Manatee develops international trade hub "As the closest U.S. deepwater seaport to the expanding Panama Canal, Port Manatee is drawing increased interest," said the port's executive director, Carlos Buqueras, in a statement.
Redwood City port sets records in May
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.
ITC will continue investigation of 53-foot containers from China The U.S. Department of Commerce will continue its investigations on imports of the containers, with its preliminary countervailing duty determination due on or about July 17.
Mixed outlook for European bunker prices Rotterdam's bunker market was reported quiet, especially in the morning.
IFO prices climb in Fujairah Price movements were mixed in South Africa.
VGP compliant marine lubricant available worldwide US-based manufacturer says product ticks all boxes.
Missing tanker 'probably hijacked' 'An attack off Ghana would conform to the pattern of the hijack gangs shifting to anchorages where they are not expected.'
Energy management training course launched Course to help shipowners in quest for ISO 50001 certification, says training provider.
Ardmore buys two tankers Secondhand tonnage will be upgraded.
Icebreaker opts for LNG fuel 'Eco' dual-fuel vessel will be a 'world first'.
ECA-related fuel costs could harm recovery, says ICS 'The most pressing challenge of ECA compliance is economic.'
Licences revoked in drive against smuggling Malaysia cancels all permits for bunkering operations from private jetties.
Support for shore power in Copenhagen About a quarter of sulphur emissions in the port said to come from shipping.
Asian IFO prices stay relatively flat Bunker operations at Busan not affected much by strike at Yeosu, players say.
Wreck removal could spring bunker leak Costa Concordia to be refloated in July.
Manufacturer proves hybrid turbocharger concept Unit is able to 'substantially' lower vessel energy consumption while slow steaming.
Gothenburg LNG terminal gets green clearance To move into next development stage.
US terminal company to change owners Total value of transaction worth approximately $700 million.
Unpaid bunker bills land shipping firm in court Four marine fuel suppliers among creditors.
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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