Top containership owners and operators launch safety drive Lessons to be learned from tanker and offshore sectors as best practice standards established for box trades
VLGC spot market lull is nothing to get worked up about Owners can still reap major rewards
Gupta outlines his plans for Shipping Corporation of India SCI's financial autonomy is at risk - but will Modi's new government step in to help?
DHL's box volume growth lags behind European rivals First-half results show the largest forwarders are taking volumes from smaller players
Dynagas Partners wants next LNG drop-down 'as soon as possible' Owner confident in long-term charter prospects, as well as near-term market
Hapag-Lloyd switches more vessels to Antwerp Three more voyages on Europe-Asia Loop 4 to make temporary port call
RBS appoints outsider to top shipping job Alan Devine charged with $10bn book despite having no industry background
Nordic American Tankers focuses on improvements ahead for suezmaxes Refinery maintenance contributed to second-quarter loss, but prospects look good, says Nordic
Two VLCCs land five-year time charters, avoiding fluctuating spot market Tankers owned by Mitsui OSK Lines and China Merchants Group fixed as market remains volatile
Euroseas eyes rate recovery in both containers and dry bulk Outlook for boxships "modestly better", though, says Greek owner
US box imports smash record amid port strike fears Containerised imports arriving at US ports are expected to set an all-time record in August, according to a report. Retailers want to take no chances against the possibility of industrial action by West Coast dockers, and so are stocking up on their holiday season sales early, the monthly Global
Nordic American back in red NYSE-listed Nordic American Tanker Shipping (NAT) slumped to a second-quarter net loss of $16.54M as average rates for its homogenous fleet of Suezmax tankers dropped by more than half from the first quarter. Year on year, the second-quarter result improved from a net loss of $31.7M in 2Q13. In the
Box lines queue up for whale bounty Six container shipping majors have signed up for a pilot programme that will earn their vessels $2,500 for each transit of the Santa Barbara Channel in California at 12 knots or less instead of the industry norm of 14-18 knots. COSCO, Hapag Lloyd, K Line, Maersk Line, Matson, and UASC are taking
Venice's big ship ban returns Italy's government is reinstating a ban on large cruise ships transiting along the city of Venice's historic waterfront. An inter-ministerial committee decided on Friday to reintroduce rules imposed by a government directive in November last year, then lifted by a regional court. From the start of
Gulf's lack of VLCCs to swell spot rates A low count of VLCCs open for fixture in the Arabian Gulf (AG) should push up spot freight rates, say analysts and brokers. "The four-week vessel count of VLs entering AG has declined to only 60 vessels - a level where availability is so low that charterers are bound to enter the market and push
Arctech confirms Sovcomflot icebreaking trio Finland's Arctech Helsinki Shipyard has confirmed final details of an order placed in May for three icebreaking stand-by vessels with Sovcomflot, Russia's largest shipping company, at a total cost of about $380M. With an overall length of 95m and beam of 22m, the new vessels are based on the Aker
SCI may close box business Shipping Corporation of India (SCI), India's state-owned shipping company, may shut its container shipping business in response to continuing losses, said its chief executive. "If we see there is no way we can turn around the loss-making container shipping business, we might as well close it down,"
STX O&S wins 8 Navig8 chemical tankers South Korea's STX Offshore & Shipbuilding (STX O&S) has won an order for up to eight chemical tankers from Singapore-based Navig8 Chemical Tankers. Four firm 49,000dwt vessels are scheduled for delivery in 2016 and options for four further ships are attached to the order. Sources estimate the cost
Kamarajar Port to deepen draught 16 metres Indian port company, Kamarajar Port Ltd (KPL), formerly known as Ennore Port, has approached the Dredging Corporation of India (DCI) to provide deeper draught at three coal berths to accommodate bigger vessels. The dredging work will commence soon and scheduled to be completed in six months. The
Otto Marine's 2Q14 profits fall Otto Marine's profits fell 13% year on year to $16.9M in the second quarter in 2014 due to a one-off gain in deconsolidation recorded in 2013. Revenues fell 16% y/y to $112M in the second quarter in 2014 due to a decline in the shipyard and shipping segment, a stock filing of the company said today.
Inmarsat opens Beijing office Inmarsat, the global mobile satellite services provider, opened its first China office in Beijing last week. China is one of the biggest markets for Inmarsat's mobile satellite-based voice and broadband services, delivering double-digit growth in the last five years, according to Inmarsat, which was
China lowers 2020 shale output by half China's shale and coalbed gas output is projected to reach 30Bn cubic meters (bcm), stated Deng Yusong, an official from the State Council at a recent energy conference. The expected output of shale gas in China has dropped by more than 50% from the targeted 60-100bcm predicted by the National
Damen delivers ASD 2310 tug to Bhagwan Marine Damen has delivered a tug to Australian offshore service company Bhagwan Marine. Built in China at Damen Shipyards Group Changde yard and named Bhagwan Pride, the tug was delivered to its owners just two months after contract signing. Bhagwan Pride has an ahead bollard pull of 48.7 tonnes, 46.5
OOIL returns to black in 1H14 Hong Kong-listed Orient Overseas (International) Limited, the listed parent of Orient Overseas Container Line (OOCL), returned to the black in the first half of 2014, due to higher revenues and contributions of non-shipping business. Profits totalled $181.2M during the period, compared to losses of
August US container imports could set record U.S. container imports could hit an all-time record in August, as July data shows container numbers soared year-over-year, according to the National Retail Federation. The NRF released a statement today in conjunction with the latest Global Port Tracker report, noting that retailers have been stocking up on holiday merchandise early in...
Roadrunner to acquire expedited services firm Roadrunner Transportation has entered into a definitive deal to acquire Active Aero Group for $115 million, a move that will further the transportation and logistics provider's aggressive acquisition strategy and expand its expedited services. Active Aero is a Belleville, Michigan-based provider of ground and air expedited services, catering in particular to...
Boston welcomes first calls from Hanjin, Evergreen ships in Asia service Hanjin MilanoSunny weather and the beginning of the busy shipping season aren't the only reasons the Port of Boston is excited about the month of August. August 1 saw the maiden call of the Milano, a Hanjin Shipping vessel, while the Lunare, a vessel in the Italia Marittima service of Evergreen...
End to Stockton service won't halt US marine highway push WASHINGTON - The U.S. Maritime Administration's latest push to promote coastal and inland waterway container services comes despite signs that such efforts are either a long shot or destined to fail. Last week, the Port of Stockton, California, announced it would end its weekly container-on-barge service to and from the Port...
Construction begins on new Suez Canal channel Within days of it being officially announced, work on a second channel of the Suez Canal has apparently already begun and, according to Egyptian authorities, will be completed within a year. According to Gulf Ship News, an Egyptian military spokesman told reporters that construction of the new channel began last week....
Unions accuse Panama Canal of unsafe working conditions The International Transport Workers' Federation and four Panamanian unions have accused the Panama Canal Authority of ongoing failure to provide decent pay and safe working conditions for more than 9,000 affiliated maritime workers in the canal zone. The 44-mile canal is currently undergoing a $5.25 billion redevelopment, which will see the...
Panama Canal Authority warns drought could limit drafts The Panama Canal Authority is warning a drought might force it to limit the drafts of container vessels traversing the waterway, reducing the amount of cargo liners can carry. Canal Administrator Jorge L. Quijano told Panamanian Channel 2 television station that the authority would have to limit the drafts by the...
Cut costs and raise revenue - the message from Asian lines One shipping line is based in Singapore and the other in Hong Kong, but the interim results of APL and OOCL have revealed the importance of managing costs in the current weak freight rate environment, and how boosting container volume with high ship utilization is crucial in the search for...
Etihad to revive dormant Alitalia Cargo Etihad Airways plans to revive and expand Alitalia's dormant cargo business after acquiring a 49 percent stake in the perennially loss-making Italian airline. The Abu Dhabi-based carrier is paying €387.5 million ($519 million) to become Alitalia's biggest shareholder and will invest an additional €112.5 million in related assets, including landing slots...
Falling unit revenue at OOCL offset by rising volume Acting OOIL CFO Alan Tung speaking on Aug. 11.Hong Kong-listed Orient Overseas (International) Ltd. reported a first-half net profit of $181 million as revenue and volume at its liner shipping division OOCL increased even though revenue per 20-foot container fell more than 5 percent. OOCL revenue grew 4.3 percent year-over-year to...
Shanghai air cargo tonnage surged in July Shanghai Pudong International Airport Cargo Terminals Co. Ltd (PACTL) reported 23 percent growth in air freight throughput in July year-over-year as strong demand from international markets continued. Electronics dominate the air cargo volumes, and with the iPhone 6 launch now scheduled for September 9, the expectations of a solid peak season...
Firm preps for PE exits Seward & Kissel hired a ship finance expert from rival law firm Watson, Farley & Williams (WFW) in an effort to meet expected demand from private equity clients seeking to exit their shipping investments.
Nordic American upped Evercore Partners hiked its rating on Nordic American Tankers' New York-listed shares thanks to expectations of an improved suezmax market through 2015.
US Shipping refinances US Shipping Corp has re-priced a major loan that will significantly reduce its interest rate, the tanker owner has announced.
Shares, not ships John Fredriksen's Frontline 2012 is believed to have been busy buying up shares rather than ships during the past few months.
Newport sees dry rise Freight rates are set to rise across all dry bulk carriers segments, Newport Shipping predicted in its latest edition of Dry Bulk Market Outlook.
Devine takes RBS post Shipping newcomer Alan Devine is the man to fill Lambros Varnavides's shoes at Royal Bank of Scotland.
AVIC back to profit AVIC Maritime saw its business returning to profit with a net gain of CNY 6.2m ($1m) in its second quarter. This result follows a CNY 9.3m loss recorded in the same period of last year.
SCF pays $380m for trio SCF Group (Sovcomflot) will pay $380m for a trio of stand-by vessels at Arctech Helsinki, the shipyard said today.
NAT in the red for Q2 Nordic American Tankers continued to bang the drum for an improving suezmax market as it reported a second quarter loss today.
Owner scraps mini-cape Great Harvest is exiting the capesize business after selling its oldest bulker for scrap, brokers believe.
TOO exercises FAU option Teekay Offshore Partners has exercised the first of six options to build another floating accommodation unit (FAU).
Coal boost for bulkers Supply and demand issues in India and tensions over Ukraine could provide a much need boost for coal shipments.
ASL in profit warning ASL Marine Holdings is expected to report a loss for the fourth quarter.
12 West stake revealed 12 West Capital has amassed a 22.4% slice of Diana Containerships, the US investor has revealed.
Maltby joins Epic Gas Charles Maltby has been named as the new executive chairman of LPG shipowner Epic Gas, it was announced Monday.
AKPS buys back $4.26m Aker Philadelphia Shipyard has mopped up NOK 26.63m ($4.26m) of its own stock after a tender offer received only partial take-up from investors.
OOIL back in black First half results at Overseas Orient (International) Ltd came in ahead of analyst's expectations in figures released Monday.
Hedland's new high Port Hedland, the world's largest iron ore terminal, has seen exports reach a new record driven by higher shipments to China.
German kudos to DFDS Danish ro-ro operator is getting credit for carrying out Germany's biggest seaborne military logistics job since you know when.
DP World Vancouver restricts intermodal rail containers to U.S. "DP World Vancouver is still experiencing an extremely high discharge volume of U.S. cargoes. This, combined with a Canadian cargo increase and rail car supply that does not meet the discharging volumes" led to the restrictions.
Obama signs highway bill The temporary funding law is paid for by raising customs fees, taking money from another trust fund, and adjusting pension rules so companies pay more in taxes now than in the future.
Panama Canal in talks for 4th set of locks With work still not complete on the $6 billion-plus third set of locks for the Panama Canal, the agency that manages the critical commercial waterway has already begun to plan the next expansion.
Airports see 2.2% rise in cargo
VT Halter launches new ship for Pasha Pasha has said the ship is expected to enter service later this year, carrying containers and ro/ro cargo between Southern California and Hawaii, where today it operates the ro/ro ship Jean Anne.
Calif. container-on-barge service falters To date, the service has hauled 7,259 containers on 116 voyages, which has removed an estimated 24,629 truck trips from I-580 and helped reduce diesel emissions by 80 percent.
Forwarder group against FMCSA intermediary rule
More than half of U.S. food exports to Russian affected by ban
No sign of recovery in fuel oil arbitrage volumes 'Not much oil expected to come in even for September,' says Singapore trader.
OW Bunker poised to expand in Colombia Strategic partnership with Colombian player is 'a timely move'.
Buy on the dips! Brokers/traders telling clients to buy on an increasing market is ludicrous.
International shipping reduces GHG contribution IMO study shows share of global CO2 output falling most years since 2008, although fuel consumption has varied.
Asian market starts week softer Strong winds and swells affecting bunkering ops in Busan.
'Stringent cost control' helps put container line back in profit OOIL sees 'positive sentiment in the marketplace'.
Shipping firms to face charges over 2013 bunker spill Philippine official seeking close to $2 million in compensation.
Diesel smuggling suspects nabbed in Thailand Oil allegedly for resale along country's eastern coastlines.
Brightoil completes upstream purchase Company now holds participating interests in Anadarko's Bohai Bay units.
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