IMO wades into 'boat people' crisis As the situation relating to rescues in the Mediterranean is described as "becoming unmanageable" by IMO secretary-general Koji Sekimizu, his organisation expects to begin work with fellow UN agencies on the "practicalities" of reducing lives lost at sea. Following a statement by the IMO and four
Dutch shipbuilders fail in Spanish tax-lease challenge Dutch shipbuilders have failed in their attempt to force the European Commission to carry out a fresh investigation of a tax-lease ship financing scheme used by their Spanish counterparts. In a judgement dated 9 December, the European Court of Justice (ECJ) dismissed the case brought by Netherlands
ST Marine former senior execs charged with corruption Singapore Technology Marine's (ST Marine's) former president and senior executives were charged today under the Prevention of Corruption Act and the Penal Code of Singapore. Chang Cheow Teck, former president of shipbuilder ST Marine, was charged with three offences, while Ong Tek Liam, former ST
Cochin Port plans to cut dredging costs The Indian port of Cochin aims to cut its annual dredging bill by borrowing an idea that has been successful in Europe. "The nautical depth dredging concept has been successfully implemented in European ports," said Guruprasad Rai, chief engineer of Cochin Port. "We want to carry out a study and
Port of Gothenburg boosts timber throughput A transloading terminal for timber products has opened at the Port of Gothenburg, Sweden, allowing more sawmills in the Nordic region to ship to destinations worldwide. The port authority has invested about SEK2.5M ($332,000) Cecilia Carlsson, vice-president for communications at Gothenburg Port
MH370 search centre showcases map technology As the underwater search for missing Malaysia Airlines flight 370 (MH370) continues in the southern Indian Ocean, a new image has been released showcasing the sonar acoustic imagery being employed. The Australian Transport Safety Authority yesterday posted its weekly update on the search, alongside
Icon Offshore bags contracts worth $12.4M Malaysia-listed offshore services provider Icon Offshore has won multiple contracts worth a total of $12.4M for long-term charters and extensions. The company is to charter a straight supply vessel to EQ Petroleum Production Malaysia for two years, with an option to extend the hire by another year.
ReCAAP: Upsurge in Asian piracy attacks Asian anti-piracy and sea monitoring centre ReCAAP has reported 20 incidents of piracy and armed robbery against ships in November 2014: a gain on the 17 cases reported at the same time last year. ReCAAP's monthly statistics indicate there were three reported robbery attempts and 17 completed
Three dead in cruise ship blaze An engine-room fire aboard Oceania Cruises' Insignia has killed three workers, the shipowner has confirmed to IHS Maritime. The fire broke out aboard the 684-passenger, 30,277gt cruise vessel at around 0830 on 11 December when the Insignia was docked in St. Lucia. "The fire was contained to the
Carbofin fined $2.75M Genoa-based vessel owner Carbofin has been fined $2.75M and has pleaded guilty in US federal court to MARPOL violations. The violations were uncovered while US Coast Guard inspectors were conducting a Port State Control examination in April onboard Carbofin's 17,779dwt (18,000 cubic meter) LPG
Korean yards escape low oil price impact South Korean shipyards may not be that badly affected by lower oil prices as they are taking steps to diversify into the construction of LNG-fuelled ships and other types of ships, said an analyst in a research note. CIMB Securities analyst KJ Hwang said, "Given the drop in offshore orders caused
Indonesia to have 14 coal export ports in 2015 Indonesia's Energy and Mineral Resources (ESDM) Ministry is optimistic that the country will have special ports for exporting coal by the beginning of 2015. The move aims to stamp out coal smuggling as the country seeks to reserve more coal for domestic consumption. Indonesian ESDM Ministry's
Indonesia to import 500 ships from China Indonesian Chamber of Commerce and Industry (Kadin) yesterday announced a plan to import 500 Chinese-built vessels by 2019. The procurement is expected to strengthen local maritime sector and improve domestic logistics efficiency, in response to the sea highway concept initiated by President Joko
DP World Australia operations disrupted Container traffic at Australia's DP World terminals in Sydney, Melbourne and Fremantle has been disrupted today due to union industrial action and an employer lockout. Further disruptions are down for next week. The strike, which took effect at first shift this morning, comes after 10 months of
EA Technique posts lower 3Q14 profit Malaysia-listed logistics provider and ship manager EA Technique Malaysia (EA Technique) posted profit of MYR4.78M ($1.37M) for third quarter that ended on 30 September. Its profit for Q314 is lower than its profit of MYR 8.16M in corresponding period last year despite the company's higher earnings.
Container ships skip Hong Kong due to congestion And estimated 9% of container ships skipped port calls at Hong Kong's Kwai Tsing Container Terminal (KTCT) from January to October, according to trade groups in Hong Kong. The trade groups believe that most of the skips were due to port congestion, the Transport and Housing Bureau (THB) of Hong
Samsung HI, Excelerate Energy to build FLNG South Korean shipbuilder Samsung HI (SHI) has confirmed its involvement in a front-end engineering design (FEED) project to construct a floating LNG (FLNG) vessel with US-based Excelerate Energy, an LNG production systems specialist, in Equatorial Guinea. Through a Korea Exchange filing on 11
Yantai-Taiwan container route to launch China's Yantai Port in Shandong Province is to open a container service to Taiwan, said the port authorities yesterday. Operated by local carriers in Yantai, this will be the first direct route to Taiwan, and scheduled to call the ports as follows: Tianjin, Dalian, Yantai, Keelung, Taichung and
Shipping industry's future hopes hit a two-year low Survey reveals worries about the cost of eco-laws and a newbuilding glut
Competition from Australia will cut US coal exports Legacy contracts and low rates present a barrier to new deals
MR product tanker earnings jump $4,000 Earnings are better than many experts expected, offering an early Christmas present for MR product tanker owners
MSC Oscar becomes the world's largest boxship Containership joining the Mediterranean Shipping Co fleet in January sets a new record at 19,224 teu
Hapag-Lloyd and CSAV unveil new services Newly merged carriers announce global network coverage for the second quarter
Maersk Broker forms new dry cargo broker with Lightship Chartering It's a done deal, says Maersk Broker on latest consolidation move in shipbroking
Concordia Maritime eyes suezmax crude tanker opportunities Product tanker company bolsters fleet with a chartered-in suezmax crude tanker for one year
Nine more China yards make Beijing's 'white list' Six state builders and three private firms join 50 builders confirmed in October
Yard Talk | China's shipbuilders are exposed to speculative jack-up rig orders Lower oil prices mean financial trouble for speculative units, driving delays and distressed-asset sales
K Line to build new LNG carrier on contract to Chubu Electric Vessel will transport liquefied natural gas from Freeport LNG project in Texas
Norden takes $230m provision on onerous contracts Danish dry bulk and tanker player says move will not affect cashflow
OSG signals possible spin-off, fuelling speculation of a tie-up with American Shipping Co Tanker operator just emerged from Chapter 11 is mulling separation of its US-flagged and international units
Box volumes from Europe to North America surge But in the opposite direction carriers saw container volumes decline on a year ago in October
Shippers revamp supply chain plans to dodge port congestion The ongoing congestion plaguing U.S. West Coast ports is forcing shippers to reexamine their supply chains with an eye to building in more safeguards against shortfalls in product imports. They are also extending their planning horizons and communicating their needs for vessel space more closely with their ocean carriers. Those are...
Aqaba terminal to suspend some fees after week-long strike Aqaba Container Terminal, Jordan's only container port, apologized for delays caused by a worker strike last week, which left nearly 10 days worth of container traffic stranded. Workers at ACT were on strike from Dec. 1 through Dec. 10, completely stalling operations at the Red Sea terminal. The terminal said it...
Hapag-Lloyd's mega-ship plans take shape within G6, CEO says Hapag-Lloyd is conferring with its partners in the G6 Alliance on plans to order larger container ships in the next year, but even as it does so the need for bigger ships is being questioned due to the recent plunge in bunker fuel prices. The G6, the fourth-largest grouping of container...
IATA: Global cargo revenue will rise in 2015 but rates will fall Global air cargo revenue will rise to $63 billion in 2015 from an estimated $60 billion this year, but will remain roughly 5 percent lower than in 2010, according to the International Air Transport Association. Freight volume is expected to increase by 4.5 percent next year to 53.5 million metric tons,...
US port funding goal will come up short A massive federal spending bill is poised to get U.S. port funding closer to a set schedule over the next decade but will still come short of the target. The $1 trillion bill for fiscal 2015 - dubbed "cromnibus" because it's a mash-up of omnibus spending and a continuing resolution - comes...
A divided US House takes vote on $1 trillion cromnibus down to the wire President Obama says he will sign the $1 trillion "cromnibus" spending bill - if Congress can pass the legislation. With less than 12 hours left until the government runs out of money, it's not clear if the House of Representatives, let alone the Senate, will pass the bill today. The option...
Intermodal volume grows at Bremerhaven port EUROGATE Container Terminal Bremerhaven this week handled its 1 millionth standard rail container, as more intermodal trains served the German gateway this year than in 2013. The average number of trains hauling containerized freight to and from the port has increased about 2.4 percent year-over-year to about 312 weekly services. Annual...
Australian port labor conflict escalates Terminal operator DP World said it will lock out dockworkers at Australia's Port of Fremantle for 24 hours next week in the latest move in an increasingly bitter labor dispute. DP World's action followed the four-hour strike at the port Thursday by the Maritime Union of Australia. The company and the...
US Sen. Booker backs abolition of Waterfront Commission Sen. Cory Booker, D-N.J., has joined a New Jersey state senator in calling for abolition of the Waterfront Commission of New York Harbor. Booker co-signed a Newark Star-Ledger op-ed column with state Sen. Raymond Lesniak, who has sponsored state legislation to remove New Jersey from the bistate anti-crime watchdog agency. They said...
Two more sentenced to prison in NY-NJ longshore payoff scheme A former International Longshoremen's Association local president and an ex-pier supervisor were sentenced to prison this week for their roles in a long-running extortion racket that funneled workers' "Christmas tribute" to the mob. Thomas Leonardis, former president of ILA Local 1235 in Newark, was sentenced to 22 months in prison. Michael...
Spot dry van truck rates on DAT boards rise sharply, hit $2.10 per mile U.S. spot market truck rates rose significantly in early December, as holiday-related retail freight demand remained strong, DAT Solutions said. The DAT national average spot rate for dry van tractor-trailers rose 5 cents to $2.10 per mile in the week ended Dec. 6. That's the biggest jump in the DAT national...
US Customs pilot could help ports mitigate congestion A U.S. Customs and Border Protection pilot project that allows shippers to reimburse the agency for additional staffing during normal hours and overtime work could help seaports deal with the growing threat of congestion. None of the seaports that can tap the five-year program, however, face nearly the levels of...
Robust 8-month container growth at major India ports The number of containers handled at major ports in India climbed 8.32 percent year-over-year from April through November, the first eight fiscal months, continuing an accelerating growth trend that leaves state-owned port authorities on track to meet annual throughput targets. Container-handling in the eight-month period totaled 5.31 million 20-foot-equivalent units, up from...
Rising sales see GLP customers adding China warehouse space HONG KONG - Growing domestic consumption in China has seen four companies expanding their Global Logistic Properties warehousing space by 700,000 square feet in six locations across the country. The existing GLP customers have signed lease agreements and will use the facilities to handle the domestic demand and distribute consumer products...
Three firms appear on shortlist to buy APL Logistics HONG KONG - APL Logistics is moving closer to the checkout queue with three companies reportedly on the shortlist to buy the NOL Group logistics unit, one based in Korea and two U.S. firms. So far CJ Korea Express, South Korea's largest transport and logistics company, is the only company to...
China's train to Spain rolls into Madrid HONG KONG - Twenty-one days after leaving the east China manufacturing city of Yiwu more than 8,000 miles away, a freight train carrying 40 containers arrived in the Spanish capital of Madrid this week, potentially opening yet another land bridge between China and Europe. The world's longest rail journey brought toys...
Extended gates seen as an opportunity beyond LA-Long Beach NEWARK, N.J.--A model for improving truck turn times is emerging at ports on the West Coast of North America. It involves a coordinated effort by marine terminals to open their gates at night and on weekends, and to spread out truck traffic through appointment systems with predictive analytics. However, while terminal...
Capital seals charters Diversified Greek operator Capital Product Partners (CPP) has lined up time charters for two of its tankers.
Crude debate continues A number of prominent US lawmakers gathered in Washington, DC Thursday to discuss the nation's long-standing ban on the exportation of domestic crude.
Analyst expands repertoire An equity analyst at Canaccord Genuity has initiated research coverage of the LNG segment.
Cooler than ice A capacity glut took a toll on rates for LNG carriers in 2014 but a notable Wall Street analyst believes the tides are about to turn.
Spot spur for Frontline Shares in John Fredriksen's Frontline were running hot today as VLCC rates went from strength to strength.
Confidence falls Owners and charterers have lost their confidence in the shipping industry due to the high cost of compliance with new regulations and ongoing doubts about over-tonnaging, a survey suggests.
Fesco sharpens the axe Russian containership owner Fesco is lining up cuts as it restructures debt.
Goldman adds TK MLP TOO Goldman Sachs Asset Management has added another name to its growing portfolio of investments in the maritime MLP space.
All systems go A licence agreement secured by Braemar LNG to use US-based General Dynamics Nassco's design patents looks set to see another type of LNG containment system enter the market in 2015.
China blesses nine more China has added nine more shipyards to its "white list" of shipbuilders deemed worthy of financial support.
Big guns back Navios MLP Two investment banks have emerged as the leading early backers of Angeliki Frangou's fourth public company, Navios Maritime Midstream Partners.
Tallink orders ro-pax Estonia's Tallink is set to build a new-generation ro-pax for the Tallinn-Helsinki route.
VLCC window open Bimco delivered some more positive news for crude tanker owners today suggesting the VLCC market is entering a window of opportunity.
Rosmorport takes yard Bankrupt Onega Shipyard is to be transferred to Russian ports agency Rosmorport.
Vessel grounds on reef An Indian cargoship has been refloated after grounding on a reef in the Maldives.
Norden not shaken Norden shares were holding firm this morning in Copenhagen as a $230m provision on onerous charters was calmly digested by investors.
Confiscation a war loss A panel of war risks underwriters face a more than $20m payout following a London High Court ruling that the confiscation of a handysized bulk carrier was covered.
Vessel drops timber Hundreds of cubic metres of timber carried by a multi-purpose (MPP) vessel have fallen into the sea in a storm off Sweden.
Costly visit? A German stowaway could face jail after boarding a Cosco boxship in the US in a bid to see his pregnant wife in South Korea.
Maersk Broker teams with Lightship Maersk Broker and Lightship Chartering have formed a new dry cargo chartering venture which continues the spirit of consolidation in the shipbroking world.
Carbofin fined in US Italian LPG carrier owner Carbofin has been fined $2.75m in the US for keeping inaccurate oil records, while two engineers have been charged in connection with the case.
Teekay tanker adrift A Teekay tanker lost its steering and was left adrift off the coast of Nova Scotia, Canada.
EA down on debut Malaysian tanker owner EA Technique has completed its Kuala Lumpur IPO on Thursday, but the stock dipped in initial trades.
Neste signs up another Ro-pax owner Finnlines has signed a deal with Finnish producer Neste Oil for low-sulphur ship fuel as the 1 January cut-off approaches.
Nakatani wins duo Nakatani Shipbuilding of Japan has clinched an order for two chemical tankers from a South Korean owner.
SBM to sack 1,200 SBM Offshore is to sack 1,200 contract and permanent staff in a bid to combat the expected decline in E&P spending.
Prang prompts arrest A Chinese-owned handysize bulker has been arrested in Singapore following a collision with an elderly reefer vessel.
K Line back for more K Line has ordered a second LNG newbuilding at Kawasaki Heavy Industries (KHI) on the back of a long-term charter deal.
Icon ties up OSV trio Icon Offshore has secured more employment for three of its vessels in deals worth MYR 43m ($12.3m) in total.
US volumes to slow US container volumes are forecast to ease in December as the holiday shipping cycle winds down, according to a major trade association.
OSG outlines options Overseas Shipholding Group (OSG) appears to be moving forward with a campaign aimed at spinning off its international tanker division.
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