Is China's transport ministry a competition body for shipping? All eyes on China's antitrust framework as probe into state giants looks set to reveal whether foreign firms and the country's government-controlled and private companies are all put on an equal footing.
West Africa to India trade helps soften the blow for Suezmaxes as US imports continue decline New trades spur confidence as operator predicts improvements to market fundamentals in the second half
P3 is dead. Long live C3? Container network formed by three Chinese state giants on China-Japan trade faces official scrutiny after complaints from compatriots
Asia-Europe rates remain high despite dip Spot rates slip 7.8%, but still above yearly average
Hapag-Lloyd enforces Rotterdam surcharge German carrier to impose $75 surcharge on third-party vessels from this weekend
Headhaul transatlantic box volumes surge Volumes heading to North America from Europe increased by 8.3% during the first six months
Tanker boost as Mexico approves energy reforms Fresh cargoes for crude tankers when Mexico raises oil production
Inactive fleet continues to reach new lows Capacity of fleet taken out of action now a 1.2% of total fleet
Jensen to take up new Maersk role in September Asia Pacific chief executive will be responsible for operations in Southeast Asia, Australia and New Zealand
Market steady, if uninspiring Averted work stoppage at Port Hedland gives capesize owners a breather
Navigator revels in rising LPG fortunes as income climbs 71% Fleet growth, higher charter rates and better vessel utilisation all contributed to good result
Vale vow to double Chinese iron ore shipments could be blessing for capesize owners Implied demand is for 230 capesizes with miner indicating preference for leasing
Week on Wall Street Eagle Bulk restructuring in full flight while others jet off on holiday
Ports alert to cybersecurity threat Antwerp official refutes claim that ports are not taking cybercrime seriously
Europe's sea of red tape Cutting customs formalities for EU shipping is behind schedule and 'off course'
Teekay Tankers to focus on deleveraging Mackay pushes 'disciplined' approach to capital structure
Euroseas books flat revenues Dry bulk and container operator suffers through weak rates in both sectors
Ningbo Xinle secures order for Elcano chemical duo Chinese yard Ningbo Xinle Shipbuilding has secured an order for two chemical tankers from Spanish owner Elcano. The two 13,000dwt vessels are scheduled for delivery in 3Q16 and 1Q17 respectively. No costs have been disclosed for the order. In addition to this latest order, the same owner also has
Guangzhou Longxue to build four Fortescue VLOCs China's state-owned shipyard CSSC Guangzhou Longxue Shipbuilding has won an order for four very large ore carriers (VLOCs) from Australian mining company Fortescue Metals Group (FMG). Two of the four 250,000dwt vessels are scheduled for delivery in 2H17 and two are set for delivery early in 2018.
Scorpio Bulkers lays groundwork for note issue NYSE-listed Scorpio Bulkers is equipping itself with the ability to raise capital via senior unsecured notes, filing papers to this effect with US securities regulators. For registration fee purposes the document gives $57.5M as the maximum size of the proposed offering. The timing of the putative
Swissco net profits almost double Singapore-listed marine company, Swissco Holdings Limited (Swissco) today (8 August) reported 1H14 net profits up by 48.9% to SGD 5.73M ($4.6M). Gross profit also rose 51.6% to SGD 10.2M ($8.2M) as at 30 June 2014 compared to SGD 6.73M ($5.38M) for the same period in 2013. Swissco's revenue
Euroseas optimistic on drybulk and boxship markets NASDAQ-listed Euroseas has admitted that the drybulk and containership markets face a number of significant challenges, but the firm remains optimistic about a revival. The company said it would seek only short-term timecharters of 3-12 months for its fleet, as it seeks to ride the current doldrums
Daehan wins Fomento order for Newcastlemax quartet South Korean yard Daehan Shipbuilding has won an order for up to four Newcastlemax bulkers from the Goa-based, Indian mining company Fomento. The order is for two firm 210,000dwt vessels, which will have an overall length of 299.8m and a beam of 50m with delivery scheduled for September 2016 and
HHI secures Polembros option pair order South Korea's Hyundai Heavy Industries (HHI) has secured an order for two Suezmax tanker options from Greek owner Polembros, bringing its total on order at HHI to four at a total cost of $280M. The two 159,000dwt vessel order has reportedly been confirmed by Polembros and they are scheduled for
Fleet of six ships prepare for new MH370 search A fleet of six vessels is poised to renew the search for Malaysian Airlines' Flight MH370 in September, Australian authorities announced yesterday (7 August), while releasing an updated bathymetric map of the search zone. Two ships, Zhu Kezhen and Fugro Equator have now completed the search of over
South Korean lawmakers 'yes' to Sewol bill South Korea's rival political parties yesterday (7 August) reached an agreement on a new Sewol-related bill. The Sewol ferry capsized during a routine Incheon-Jeju crossing on 16 April, leaving 304 of the 476 passengers and crew either dead or missing, and triggering major criticism of the
Italian ports decamp over reform delay Italy's long overdue ports reform programme is in disarray as two major ports - Genoa and Ravenna - announced they were leaving Assoporti, the national ports association. The country's Ministry of Transport has today (8 August) published details of a major programme of investment to upgrade the
Officials charged with Sewol-linked corruption The Incheon District Prosecutors' Office announced on Wednesday (6 August), that a total of 43 officials have been charged with corruption in connection with the Sewol ferry disaster. Of the officials, 18 were detained and 25 officials were charged without being detained. The Sewol capsized during a
Viking O&M posts losses for 1H14 Singapore-listed offshore and marine services provider, Viking Offshore & Marine, has announced 1H14 profits down by 30% year-on-year (y/y) to SGD368,000 ($293,700) from SGD523,000 ($417,400) in 2013. However, revenues rose by 3% to SGD31.6M ($25.2M) in 1H14 for the period ending 30 June 2014 as
China nickel imports fall in 1H14 China's nickel imports fell 26% year-on-year (y/y) to 23M tonnes in the first half of 2014 due to tighter trade rules imposed by major source countries. In addition, the value of nickel ores decreased by 21% y/y to $2.0Bn during the same period, with average prices up 7% y/y to $86.2 per tonne,
'Buy' for Yangzijiang shares Singapore-listed shipbuilder, Yangzijiang Shipbuilding Holdings's shares have been given a "buy" recommendation, according to Lee Yue Jer, offshore and marine analyst from DMG & Partners. Lee stated that Yangzijiang has just posted its all-time highest earnings in 2Q14 of CNY1.24Bn ($201.3M), thanks
Special maritime zone in China The Qingdao West Coast New Area in China has been accorded administrative privileges with the aim of to attracting investment and expertise in order to expand the maritime economy, the local authorities announced on 1 August. Entrepreneurs in this coastal city in Shandong Province can expect a boost
Taiwan exports improve Taiwan's exports totalled $26.77Bn last month, up 5.8% year-on-year (y/y), but down 0.1% from June, its Ministry of Finance said yesterday. July was the sixth consecutive month that Taiwan's exports rose this year, but the increase was slightly lower due to the weaker-than-expected demand in the
Nam Cheong profit doubles Singapore-listed offshore service provider Nam Cheong today reported 2Q14 profits up by 53% year on year to MYR63M ($19.6M). Revenue hiked 38% y/y to MYR378.8M ($118M) on 30 June 2014 from MYR275.3M ($85.7M). Similarly, the company's gross profit rose by 24% to MYR66.9M ($20.8M) in 2Q14, while
APMT invests in Pipavav APM Terminals-controlled Pipavav port in India's north western state of Gujarat plans to invest $100M to boost its container loading capacity, the managing director of Gujarat Pipavav Port Ltd, Prakash Tulsiani said. "We are seeing good demand for containers and are operating at 85% capacity. We are
Extra £3M for UK canals and rivers The Canal & River Trust, which looks after 2,000 miles of waterways in England and Wales, will spend nearly '2M on dredging works and a range of associated improvements. The Trust has committed to spend £80M on dredging over the ten years from 2013, but this new money, that will be used to fund
No federal inspectors for grain terminal in ILWU dispute Despite pleas for relief, the United Grain Corp. terminal in Vancouver, Washington, learned Thursday federal grain inspectors will not work at the export terminal because of alleged harassment by International Longshore and Warehouse Union picketers who have been locked out of the facility. In a letter yesterday to United Grain, Lawrence...
US lawsuit hits Japanese forwarder's profit Major Japanese international freight forwarder Kintetsu World Express Inc. saw its group net profit plunge over 50 percent in the first quarter of fiscal 2014, which started on April 1, due to an extraordinary loss related to an antitrust class-action lawsuit in the United States. The Tokyo-based company said on Aug....
Weekly Stockton-Oakland container barge service to end A weekly container-on-barge service between the California ports of Stockton and Oakland will end Sept. 1, dealing a blow the creation of a U.S. marine highway network by ending one of the three inland waterway container services. The service via the San Joaquin River will still be available on an "as-needed"...
Ocean carrier rate revision roundup for Aug. 8 Major container lines announced general rate increases taking place in mid-August through October this week. This year such announcements are coming once, if not twice, every month as carriers battle a volatile spot market. While most general rate increases this year have been largely unsuccessful, the spot market in the trans-Pacific...
SCFI: Asia to North Europe rate drops, but US lanes hold onto gains The Shanghai Containerized Freight Index for northern Europe ports fell 7.8 percent this week. Full-size chart Spot rates from Asia to northern Europe continued a trend of peaks and valleys this week, giving up nearly half of pricing gains achieved around Aug. 1 general rate increases. The Shanghai Containerized Freight Index for northern Europe...
Hapag-Lloyd diverts more voyages from Rotterdam to Antwerp Hapag Lloyd today announced it will divert three more Asia-Europe port calls to Antwerp, fueling concern that berthing delays at Europe's biggest container hub will persist into the fall. The German container line said three more voyages on its Europe-Asia Loop 4 service operated in the G6 Alliance will be diverted...
US grain exporters brace for worsening rail delays as harvest nears Many U.S. Midwest grain exporters have little reason to be optimistic that they'll get their products to market on-time or for a price that will make shipping to Asia economically feasible. With the wheat, corn and soybean harvests just around the corner, many farmers have seen delays of weeks - if...
Asset-tracking firm hopes to boost business with new satellites With the first six of a new generation of satellites in orbit, Orbcomm expects increased revenue from its global asset-tracking and management services in the second half of 2014 - especially once those new satellites are fully operational, company executives said today. The machine-to-machine or M2M communications specialist increased revenue from...
Maersk's Jensen moves from P3 to Asia CEO The executive who would have headed the P3 Network, Lars Mikael Jensen, has been appointed Maersk Line's regional CEO for Asia Pacific and will be responsible for day-to-day operations in Southeast Asia, Australia and New Zealand. Jensen begins his new role on September 1 and will be based in the carrier's regional...
Singapore logistics group CWT to build giant logistics complex Singapore logistics group CWT has announced plans to develop a 2.2-million-square-foot integrated warehouse and container port logistics complex at Jalan Buroh in the Jurong Port area of the city. An existing facility in the warehouse complex will be developed and converted into a "mega logistics facility," although no investment figure was...
Leading Indian logistics firm sees strong e-commerce growth Gati Ltd., India's leading express distribution and supply chain solutions provider, reported its net income surged a whopping 111 percent in the first fiscal quarter, which ended on June 30, from a year earlier to Rs. 15 crore (about $2.4 million) on a consolidated basis. The company's group income from April...
VLCCF branded 'buy' A leading Wall Street equity analyst believes now is the time to accumulate shares of Knightsbridge Tankers.
SeaRiver readies sale ExxonMobil's US shipping offshoot has launched a campaign to offload two of its suezmax tankers, TradeWinds has learned.
Twin court dates for HNA HNA Group subsidiary Grand China Logistics (GCL) and then the parent HNA Group itself will separately be meeting shipowners in London early next year to fight out time-charter guarantee rows.
Classic fixes Livanos cape Classic Maritime has chartered its second capesize bulker on a period contract in a little over a week.
Otto recovers Otto Marine recovered from a 2014 first quarter $14.7m loss by booking a gain of $16.9m in the second three-month period.
Brothers charged Two Malaysian shipowning brothers are facing 77 charges after being accused of having ships enter Brunei waters without clearance and not paying duty on more than 35,000 tonnes of stones.
Navigator set for VLEC debut Wilbur Ross's Navigator Holdings could be the first mainstream shipowner to place contracts for very large ethane carriers (VLECs) after revealing it is in talks to enter the fledgling sector.
Polarcus profit up 46% Second quarter results announced today by Polarcus showed that net profit increased to $9.2m from last year's $6.3m.
One dead in fire A seafarer has died after a blaze broke out on a Russian cargoship off Japan.
Freeport back on exports It has taken seven months, but Freeport McMoRan's Indonesia unit has completed its first copper concentrate export shipment since new mining rules were introduced by the government.
Wilson improves profit Mini-bulker owner Wilson improved earnings in the second quarter by 30.4%, the Bergen-based company said on Friday.
Sainty raising cash Chinese shipbuilder Sainty Marine is plotting a new share issue to generate funds to complete its healthy orderbook.
Kuribayashi stronger Japanese company Kuribayashi Steamship today announced a first quarter net profit of JPY 121m ($1.2m) following last year's JPY 33m earnings.
Elcano orders double Spanish owner Elcano is adding to its chemical tanker fleet with an order for two ships in China.
Sado loss grows Japanese ferry company Sado Steam Ship has seen its net loss widen in the first half of its current financial year.
Toei reports Q1 profit Japan's Toei Reefer Line has posted net profit of JPY 46m ($453,000) for the first quarter ended 30 June, recovering from a JPY 45m loss one year earlier.
Hoegh MLP in strong start Hoegh LNG Partners enjoyed a dream debut on the New York Stock Exchange with its shares climbing by more than a tenth on the first day of trading.
SALT set for notes sale Scorpio Bulkers has set the scene for a notes sale to fund fleet expansion.
Tamai better again Japan's Tamai Steamship has improved earnings again as revenue rose in the first quarter.
Philadelphia unfreedom Crew on a Greek-owned multipurpose ship have spent four months stranded on the Delaware River.
Kyoei profit climbs Japan's Kyoei Tanker has recorded an improved first quarter profit.
Odds against We take a look at what was said in the market over the past week.
Philadelphia unfreedom Crew on a Greek-owned multipurpose ship have spent four months stranded on the Delaware River.
Giddens stages comeback John Giddens is back in the offshore game four years after selling his successful Singapore-based subsea company Hallin Marine to US interests.
Back with a vengeance Jose Carlos Martins, head of ferrous metals at Brazilian mining giant Vale SA, says his company plans to double the volume of iron-ore its esxports to China within the next five years
Nam Cheong profits soar Malaysian offshore support vessel and operator Nam Cheong has had a robust second quarter with soaring revenues and profits. The company believes its outlook for the future looks even brighter.
Euroseas misses mark Diversified Greek operator Euroseas reported a second-quarter deficit Thursday that was deeper than many investors had expected.
Gati eyes exit A diversified Indian logistics provider appears to be moving forward with plans to abandon the maritime shipping industry under a broader bid to slash debt and stem losses.
TOPS surprises Street Greek product tanker owner Top Ships made waves on Wall Street Thursday after posting a second-quarter profit.
Pulp fiction Cargill is pouring more cold water on reports that it has placed a contract to construct a pair of capesize bulkers at a shipyard in China.
DP World Vancouver restricts intermodal rail containers to U.S. DP World Vancouver, which operates the Centerm terminal in downtown Vancouver, British Columbia, said that starting Aug. 8, it will not allow discharge of U.S. bound intermodal rail cargo.
Malaysian government plans purchase of Malaysia Airlines
Moody's reviewing MOL rating Moody's put MOL's Baa3 rating - the lowest of its investment grade ratings - under review on Monday after MOL reported earnings of 8.5 billion yen ($84 million) for the period ending June 30, compared to 12.9 billion yen the previous year.
Crane productivity rises at some U.S. terminals One factor that can help get a vessel back to sea - where it makes money - is how fast ship-to-shore cranes can discharge and load boxes. Terminals in Bayonne, N.J., and California are striving to improve crane capacity.
CSAV says U.S. authorities OK merger with Hapag-Lloyd
Weekly GRI roundup
U.S. steel exports 'steady' in June "Exports to most other trading partners are down for the year, though two notable - and, perhaps, surprising - exceptions are Venezuela and Russia," said the American Institute for International Steel.
WTO firm against China's rare earth metal export restraints China's export restraints, the U.S. government had warned, "artificially increase world prices for these raw material inputs while artificially lowering prices for Chinese producers."
Canadian grain shipments float St. Lawrence Seaway's volume
IFO380 ends week soft in Montreal Slow demand reported at the Canadian port.
Weekly Global Market Report A weekly price roundup from bunkering hubs around the world.
Prices firming in European hubs Weak demand in Hamburg.
Prices firming across Middle East and Africa No price changes in Suez.
Players 'don't want to be stuck with low sulphur IFO' 'There's not a lot of demand and quite a bit of low sulphur product around.'
Iran halts exports of 380 cSt product 'Some traders estimated freeze could last up to three months.'
Player starts operating from second terminal near Istanbul Says move will help 'eliminate the possible effects of refinery modernisations on fuel oil supply'.
Asian bunker prices firming Busan port remains under typhoon threat.
Stranded ship has '$1.2 million of unpaid bills' Fate of Greek-owned cargo ship 'another chapter of what's happening in the shipping industry'.
Dual-fuel gas carrier wins long-term charter deal Charter due to start in 2016.
Firm acquiring 'eco-design' reefer newbuilds As part of a larger new-building programme, says CEO.
Offshore vessel owner opts for fuel-saving design Up to four ice-class MPSV vessels to feature Wartsila design.
US terminals firm to receive major equity boost Firm will pursue expansion opportunities in Latin America, Europe and Africa.
River bunker tanker to join Russian fleet Vessel to operate in Cherepovets.
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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