Indian shipping braces itself for Modi's revolution Maritime industries enthusiastic for new government's growth agenda
Lenders to auction Zim debt For sale: $62m credit facility secured by three boxships
Mitsui VLCC helps daily earnings rise off the floor Earnings head up after weeks in doldrums
Opec retains production ceiling of 30m barrels per day Saudi oil minister sees a $95-$110 price range as acceptable
Inactive boxship fleet stabilises after mid-March decline Capacity of containerships not in use remains at 1.7% of total fleet
G2 Capital Partners targets dry bulk sector Souravlas worries about timing of recovery and thus the segment's appeal to investors
Aronnax: Days of easy efficiency wins are over Shipowners and operators will have to start digging deep to find next round of fuel savings
China Shipping Development to expand long range tanker fleet Tanker giant seeks newbuilding and acquisition deals
US box volumes expected to spike in June Retailers say goods arrive early due to fears of west coast industrial action
ISSA names Hajah as new president Olsen will step down at end of year
Singapore owner faces North Korea arms charges Chinpo and a senior executive face prosecution over Chong Chon Gang shipment
Global Gateways: Asia In the first of a five-part series, Containerisation International looks at the challenges facing Asian ports
The importance of data accuracy The data provision services of shipping lines are increasing in importance. But is the accuracy of that data up to scratch?
Lauritzen signs with Namura for handy pair Danish shipowner Lauritzen Bulkers and Japan's Namura Shipbuilding have signed contracts for two handysize bulkers at a signing ceremony in Copenhagen yesterday. The two 34,000dwt eco design vessels are scheduled for delivery from Namura's Hakodate Dock shipyard in 2017. "The newbuilding contract
Gothenburg boosts rail capacity APM Terminals Gothenburg is investing in new rail capacity and equipment as a result of the success of Sweden's north-south cargo shuttle and in anticipation of a modal shift when stricter ship emission limits are imposed next year. The terminal operator said container capacity would jump by 50%
Chinese yard for CSDC tanker trio A Hong Kong stock exchange filing has revealed that an unnamed Chinese yard is poised to win an order for up to three Panamax tankers from compatriot shipowner China Shipping Development Co (CSDC). The order will be for two firm 65,000dwt tankers with an option for one additional vessel. The board
New Sri Lanka terminal first to have flow meters Sri Lanka's new bunkering facility with 51,000 m³ storage capacity in southern Hambantota port will be the first in the region to be fitted with flow meters to ensure accurate supply, the Sri Lanka Ports Authority announced. It will be officially inaugurated by President Mahinda Rajapaksa on June
Samsung replaces Oshima in Vietnam South Korean giant, Samsung Group is replacing Japan's Oshima Shipbuilding in a new shipyard project in Vietnam after the Japanese yard had withdrawn. The yard is due to be built in Cam Ranh in Khanh Hoa province and Samsung is expected to invest $500M in the new yard. Oshima secured an investment
Murakami Hide wins LPG pair Japanese shipbuilder Murakami Hide has won orders for two small LPG carriers with one each from compatriot owner Fuji Iron Works and Marshall Islands registered Daytona Industries. The two 4,500m³ vessels will have an overall length of 99.98m, beam 17.5m, and will be classed by NK. Fuji Iron Works
Tramp fleet fragmentation delays recovery A recovery in period rates for charter container vessels is being held back by deconsolidation among owners and chartering agents, a leading German shipbroker has warned. Hamburg-based Ernst Russ Shipbroker, said the balance of power between owners and charterers in the container ship market has
Barito River closure halts Kalimantan coal exports Coal exports from Kalimantan have been disrupted by the closure of the Barito River, a key barging route on the Indonesian island. The Barito Kuala Regency administration shut the channel, which cuts Central and South Kalimantan, on 5 June, after a rare dispute between shippers and port operator, PT
Fugro wins MH370 contract UK-based Fugro Survey has won the Australian contract to conduct a bathymetric survey of the seafloor in the search area for missing Malaysia Airlines flight MH370. "Fugro was selected through a limited tender process," Joint Agency Coordination Centre (JACC) spokesperson told IHS Maritime. The
VLCC rate standoff continues The rally in VLCC rates seen yesterday proved to be short-lived as charterers managed to force rates down again. Rates to ship crude oil on VLCCs reached their highest levels in a month yesterday as owners fought back against a weakening trend. The Baltic Dirty Tanker Index yesterday assessed rates
Sewol crew defends decision to abandon ship The 15 crew members of the capsized ferry Sewol have defended their decision to abandon the vessel even as passengers were trapped. During the first day of their trial yesterday, the crew, including Lee Jun-Seok, the captain at the time, insisted that it was the Korea Coast Guard's responsibility,
Taiwan's economic growth remains optimistic Taiwan's economic growth will remain positive, although export increase was lower than expectation in May, two banks said on Tuesday. Taiwan's exports to major destinations made a year-on-year increase in May, with exports to China and Hong Kong, Europe and the United States up by 6.4%, 5.8% and 1%,
Dynamic Oil Trading prioritises long-term rapport Singapore-based Dynamic Oil Trading highlighted the importance of building a long-term partnership between shipowners and bunker suppliers in the wake of using latest technology such as mass flow metres. "Understandably, following the Maritime and Port Authority of Singapore's decision to make mass
IEA predicts China gas Golden Age The 'golden Age' of natural gas, driven by booming demand, will expand to China from North America over the next five years, the International Energy Agency said in its 2014 Medium-Term Gas Market Report released today. Chinese gas demand, expected to be doubled through 2019, may compensate for a
Indonesia to double coal consumption by 2022 Indonesia plans to double its coal consumption, a move that would have ramifications on the dry bulk shipping market as the country is the world's biggest steam coal exporter. State power provider PLN has forecast the country will burn 151M tonnes/year in 2022, up 82% from 2014's domestic market
CSDC to own 20% stake in oil shipping company China Shipping Development (CSDC), a bulk-shipping arm of the China Shipping Group, said today it planned to take over a 20% stake in compatriot Shanghai North Sea Shipping for at least CNY830M ($133M). China Shipping Tanker Shipping, a wholly owned subsidiary of CSDC, will place a bid with a bottom
Korean Air to be Hanjin Shipping's biggest shareholder Korean Air Lines will become the biggest shareholder of its affiliate Hanjin Shipping through the purchase of additional shares. KAL will pay KRW400Bn ($394M) for 74,074,074 shares that would be transferred to the airline on 17 June, giving it a 33.2% stake in South Korea's biggest shipping company.
Qingdao Port probe dampens Hong Kong investor interest The listing of Qingdao Port International on the Hong Kong Exchange has been completely overshadowed by the commodities financing scam that is rocking the Chinese banking sector, and investors have shown little interest in the Bohai Rim port operator. The world's seventh busiest container port debuted on June 6 at the...
Lufthansa warns of lower cargo performance as competition heats up Lufthansa today warned that an expected rebound in its cargo business hasn't materialized and there's no pickup in sight as it lowered its profit targets for the next two years. "The revenue risks mentioned when we presented the quarterly figures in early May have unfortunately materialized," said Simon Menne, chief officer...
Second set of Panama Canal gates makes landfall The second of four shipments of new rolling gates for the Panama Canal Expansion Program arrived at the canal yesterday afternoon after nearly one month at sea. The gates left Trieste, Italy, on the STX Sun Rise in mid-May, and traveled through the Strait of Gibraltar and across the Atlantic to...
New Orleans firm triples plastics-bagging capacity TCI Plastics is expanding its petrochemicals bagging operation at the Port of New Orleans to more than triple the facility's annual capacity to 68,000 20-foot-equivalent units of containers. The expansion will increase the port's containerized exports by almost 15 percent, said Christian Jensen, president of TCI. The company is a division...
Pennsylvania honors medical supplier as top exporter Welder at work at UMF Medical.A small business based in Johnstown, Pennsylvania, took home one of the state's most coveted business awards with an aggressive export strategy. UMF Medical President & CEO Eileen Melvin and Director of International Trade Joshua Miller talked to the JOC on June 10, just days after...
Industry's fingers crossed as ILWU talks proceed Cargo interests, shipping lines and railroads have done all they can to prepare for the July 1 expiration of the International Longshore and Warehouse Union contract. The trade community is now looking to the negotiations in San Francisco to see if an agreement will be reached without disruptions at West...
Celadon chips away acquisition debt with sale of TruckersB2B Celadon Group, a $681 million trucking operator that has been buying smaller truckload carriers at a fast clip, sold its longstanding stake in a vendor discount program aimed at smaller trucking firms. The company surrendered its minority stake in TruckersB2B, a program with more than 25,000 carrier members, which offers discounts...
Drewry: Spot rate in trans-Pacific stays at year's lowest point Drewry benchmark spot rate from Hong Kong to Los Angeles as of June 11, 2014. Full-size chart There was no change in the Drewry benchmark spot rate from Hong Kong to Los Angeles this week, as the rate per 40-foot container continued at a 2014-low of $1,750 per FEU. The $1,750-per-FEU spot rate...
Dockworker strike shuts Finland's ports Finnish ports are at a standstill today after dockworkers walked off the job in response to alleged threats to a union official by the representative of a Russian vessel. The 24-hour strike by around 2,000 dockworkers is due to end tomorrow at 6 a.m. Finnish time. The Transport Workers Union said one...
Imperial Tobacco unveils Madrid IPO for logistics business Imperial Tobacco announced plans to float its Logista transport unit on the Madrid stock exchange as its focuses on its core higher margin cigarettes operation. The UK company will retain a majority stake in Logista in an initial public offering that is expected to value the pan-European transport company at between...
APMT Mumbai wants to expedite import pickups to ease congestion APM Terminals' management in India's Port of Jawaharlal Nehru (Nhava Sheva) is asking shipping lines and agents to speed removal of import containers to ease congestion at the terminal. The private terminal operator in a trade advisory said it is providing round-the-clock gate activity to allow quicker turnaround times for truckers...
Mega-ships seeing greater delays than smaller ships at European ports Average delays were greater for larger ships at four North Europe ports, April 15 to May 15, 2014. Full-size chart Container ships with capacities of 10,000 TEUs or greater are more likely to be delayed at European ports than smaller vessels, which could negatively impact shippers' supply chains as mega-ships increasingly come...
Project aims to develop LNG-powered 14,000-TEU container ships Offering further evidence that liquid natural gas is being seriously looked at as an alternative fuel for container ships, a Greek ship manager said it is working with Lloyd's Register and Daewoo Shipbuilding to develop LNG-fueled ultra-large container ships of 14,000 TEUs. The move by Piraeus-based Capital Ship Management Corp., which...
American Airlines boosts Asia network American Airlines Boeing 777-300ERAmerican Airlines is adding Hong Kong and Shanghai to its daily Asian routes this week as the carrier capitalizes on 12 consecutive months of air freight growth and improving yields, rare in an industry struggling against excess capacity and fierce competition. The daily passenger services from Dallas-Ft. Worth...
Former YRC exec Rogers takes on Universal Truckload challenge Jeff Rogers, until last September the president of YRC Freight, will have a new job and a new challenge next year when he becomes the next CEO of Universal Truckload Services, a $1 billion trucking and logistics company. Rogers will succeed H.E. "Scott" Wolfe, who will retire at the end...
DLNG turns on the tap Dynagas LNG Partners of Greece has turned to the capital markets for the cash it needs to acquire an LNG carrier from its sponsor, Dynagas Holdings.
Capes lose steam Freight rates for capesize bulkers trading in the spot market lost traction Wednesday, which marked the end of a winning streak that lasted for nearly two weeks.
Texas blaze contained Authorities in the US are investigating the cause of a blaze that broke out on board a cargoship moored in the Corpus Christi Ship Channel Tuesday afternoon.
Noah's arc Canaccord Genuity has initiated research coverage of the dry-bulk segment and six US-listed bulker stocks.
NWS at centre of strike The ongoing boycott of North-Western Shipping (NWS) vessels is behind a nationwide port strike in Finland on Wednesday.
UK holds four Three German ships were among four detained after failing safety checks in the UK during May.
Thorco eyes IPO Denmark's Thorco Shipping is plotting a big fleet expansion as it eyes an IPO.
Cyprus stands firm Cyprus' ship management industry is growing again after riding out the shipping slump.
Lauritzen takes Japanese duo J Lauritzen has firmed up a contract with Namura Shipbuilding for two handysize newbuildings.
Hanjin to delay? South Korea's Hanjin Shipping could postpone an issue of convertible bonds due to unfavourable terms.
Crew plead not guilty The captain and 10 crew members from the sunken South Korean ferry Sewol have denied homicide and negligence charges against them.
$48 per month A seafarer was being paid as little as $1.09 per hour on a Turkish-owned cargoship detained in the UK.
Wartsila does Dof deal Finnish engine maker Wartsila has won a service agreement covering 30 of Dof's offshore vessels.
Master guilty of delay Filipino captain fined in New Zealand for not informing authorities of cargoship grounding.
CSDC lines up tankers China Shipping Development Co (CSDC) has lined up an order for up to three new tankers in China.
Finnish ports shut down Finnish transport workers union AKT has closed down the country's ports after an official was allegedly threatened.
Five more years BW Offshore (BWO) has extended an FPSO contract with Ithaca Energy for another five years.
Samsung steps in South Korea's Samsung Group is taking over a new shipyard project in Vietnam after Oshima Shipbuilding of Japan pulled out.
CSDC bids for owner The board of China Shipping Development Co (CSDC) has approved a move to take a stake in a domestic tanker rival.
Fugro joins MH370 hunt Fugro has been contracted to support the underwater search for the missing Malaysia Airlines flight 370 (MH370).
Thoresen ship disabled A Thoresen Shipping bulker has reportedly been disabled off the coast of Finland after suffering an engine room fire.
US volumes to spike Container import volumes at US ports are expected to see a significant jump this month, a trade body has forecast.
Drewry: Shortage of ship officers will grow The current officer supply is 610,000, a shortfall of 19,000. This shortfall is forecast to rise to 21,700 by 2018 given that there will be a need for an additional 38,500 officers by that time, according to Drewry.
FAA approves Alaska survey drone
New Jones Act tanker company created Aker Philadelphia Shipyard, American Shipping Company and funds affiliated with Apollo Global Management, have created a pure-play Jones Act shipping company, Philly Tankers. Two tankers will be built by 2017.
CIMC building new container factory in Ningbo Located in the Yinzhou Economic Development Zone, the plant will make various kinds of logistic equipment such as standard or special containers, CIMC said in a filing with the Hong Kong Stock Exchange. The factory will cost $482 million.
Schneider Electric to use Llamasoft for supply chain design
Airports see air cargo growth in April Cargo volumes at airports around the world rose 4.8 percent, year-over-year, in April, according to Airports Council International. For the first four months of the year, activity rose 3.7 percent. North American freight rose by 6.1 percent.
UTi opens ocean service centers
American Airlines launches new Asian routings
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.
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