OSG restructuring plan takes shape Overseas Shipholding Group has agreed with several of its lenders on a plan for emergence from Chapter 11 bankruptcy
Vitol ditches Rotterdam oil project The Dutch-owned energy group Vitol has confirmed that VTTI, its terminal operations unit, has abandoned a joint venture with Moscow's Summa Group to build a new oil terminal at Rotterdam
Petrobras orders eight more PSVs Petrobras has placed orders for eight platform supply vessels (PSVs) at three different domestic shipbuilders as part of the Third Fleet Renewal Plan for Offshore Support Vessels (Prorefam), which has reached its fifth round of ordering
Shipping offerings flood Wall Street The year may have just begun, but equity sales by US-listed ship owners already top $1Bn amid a scramble for growth finance
GSL may lose two CMA CGM charters Global Ship Lease has reported stronger adjusted earnings but acknowledged that it may soon lose a pair of charters from CMA CGM
'K' Line to make PCC newbuildings green 'K' Line's eight 7,500-unit pure car carriers that it has on order at Japan Marine United Corporation and Shin Kurushima will be equipped with technology to reduce emissions of greenhouse gases
HPH Trust profit down 25% Hutchison Port Holdings Trust saw 2013 profit falling 25% year on year to HK$1.67Bn ($215M) as a strike at its Hong Kong terminal affected throughput
NYK shipping more crude for Thailand NYK Line said today that it has signed another contract of affreightment with Thai Oil, the third such contract since 2011
PIL ships robbed in Malacca Straits Two ships belonging to Singapore-based Pacific International Lines were robbed in the Malacca Straits on 5 February
Singapore acts to prevent collisions Three collisions within a week in Singapore has caused concern to the city-state's authorities
Kang quits STX STX Corporation's founding CEO and president Kang Duk Soo has left the chaebol that he founded
China coal imports up 17.5% y/y in January China's coal imports jumped 17.5% year on year to 35.9M tonnes in January, a customs report said today
Growing Economy to Test Shippers, Penske Warns A stronger economy in 2014 could mean tough choices ahead for many shippers, with pricing volatility and spot equipment shortages potentially disrupting supply chains, Penske Logistics warns. "It's clear that volumes are improving and that creates challenges," Andy Moses, senior vice president of global products at Penske Logistics, told the JOC....
Dagnese Named President of Con-way Truckload Joseph M. Dagnese, Con-way Truckload's new president and CEO.Con-way has namedJoseph M. Dagnese as president of its truckload subsidiary, Con-way Truckload. Dagnese succeeds Saul Gonzalez, who will remain with Joplin, Mo.-based Con-way Truckload in an executive staff role. Dangese has "proven expertise helping organizations adopt 'lean' operating capabilities, all of which will...
Marine Terminals Cannot Ignore Efficiency Question While disputes between trucking companies and marine terminal operators over turn times may be nothing new, the excuses for inefficiency have gotten old. While we have argued and pointed fingers, cargo volumes have increased, congestion and gridlock has continued and the outside world looks on, wondering when this industry is...
MSC Call for Bigger Antwerp Container Complex Gains Traction Antwerp's Duerganck dock.The Port of Antwerp said it will proceed with plans to expand container handling facilities for Mediterranean Shipping Co., its biggest customer, as it has not received alternative proposals. The port authority called for expressions of interest in early December for other developments that might clash with the official...
NY-NJ Driver Strike Sputters A threatened strike by owner-operators at the Port of New York and New Jersey had little impact this morning, as port terminals handled normal volumes while paying overtime to longshore labor for working on Lincoln's Birthday. A JOC check of port terminals shortly after their gates opened at 6 a.m. showed...
Truckers: NY-NJ Port Mess 'Worst Ever' Drayage company owners and managers say this winter's dysfunction at New York-New Jersey container terminals has exploded into a crisis that in some ways is worse than Hurricane Sandy's devastation at the port. "This past month, in my opinion, has been the most stressful, the most horrible I have seen in...
Adani Said to Be Top Bidder for New Ennore Terminal Adani Ports and Special Economic Zone, India's largest private port infrastructure developer, is poised to win the public-private partnership contract to build and operate a new container terminal at Ennore Port, a major state-owned cargo hub near Chennai. Port sources said Adani emerged as the top bidder for the 30-year concession,...
Truck Strike Hampers Cochin Terminal Operations A strike by harbor truck crews has affected normal operations at the Vallarpadam International Container Transshipment Terminal, a DP World facility in India's Port of Cochin. Port sources said unionized drivers handling inter-terminal container movements walked off the job on Feb. 9, calling for wage improvements and additional benefits. Labor unions...
Asia-Pacific Airlines to Maintain Cargo Dominance Asia-Pacific airlines will continue to dominate air cargo markets and freighter orders over the next two decades, according to the latest report from Airbus. The European air giant forecasts that the number of freighters operated by airlines in the region will triple from just over 300 today to some 970 by...
LNG firmly on US order radar LNG propulsion has become an inevitable part of discussions for US-built newbuildings, an Aker Philadelphia Shipyard executive said today.
OSG's uphill battle Overseas Shipholding Group (OSG) appears to be closing in on the final leg of a Chapter 11 restructuring but many believe the bankrupt US tanker owner will face a number of hurdles before it reaches the finish line.
And the winner is... Three US shipyards have emerged victorious in the first leg of a race tied to the US Coast Guard's 'Offshore Patrol Cutter' acquisition project.
Solvtrans bags bankroll Solvtrans of Norway has lined up a series of loans that will aid ongoing efforts to consolidate its position as one of the world's leading wellboat operators.
Fire at Aker Philly Authorities appear to have contained a blaze that broke out at Aker Philadelphia Shipyard early Wednesday morning.
Niche debut 'makes sense' Siem Offshore's $420m debut in the extreme-niche sector of well intervention "makes sense" and looks "highly financeable", according to two specialist analysts.
OSG puts debt plan in place US tanker owner OSG has struck a deal with a majority of lenders to settle claims with a new rights offering and exit financing worth $775m.
Aboitiz sells out Aboitiz Equity Ventures (AEV) of the Philippines has sold out of ship management and crewing.
GSL ponders next move Global Ship Lease (GSL) is looking for alternative employment for two boxships after CMA CGM announced it would not renew charters on the pair.
Paragon drops Greece's Paragon Shipping has seen its stock slide after it priced its latest share offering.
New yard for Russia Russian authorities have cleared plans by oil giant Rosneft to establish a new shipyard in the Murmansk region.
NYK builds Thai ties Nippon Yusen Kaisha (NYK) is expanding an agreement to ship Arabian Gulf crude to Thailand.
Disabled ship detained A Panamanian livestock carrier has been held in the UK after being towed into Fowey with engine failure.
TUI upbeat despite loss Germany's TUI is bullish on prospects for its cruiseship operations despite a wider loss in its first quarter.
BW LPG sees stellar start BW LPG, the world's largest operator of VLGCs, has seen a stunning start to life as a publicly quoted shipowner.
Toei on the rise Japan's Toei Reefer Line has pushed up nine-month earnings as revenue climbed.
Otto wins $11m charter Singapore's Otto Marine has won another Australian charter for one of its offshore vessels.
HMM agrees $1bn sale Hyundai Merchant Marine (HMM) has selected a local investment group as preferred bidder for its LNG fleet.
Shell orders ISVs KT Maritime Services Australia has won an order from Shell for three infield support vessels (ISVs) for the Prelude FLNG project.
Atlantska moves for ultras Croatia's Atlantska Plovidba is returning to China's Qingshan Shipyard for new ultramax bulkers.
Seabulk in barge buy Seacor subsidiary Seabulk Tankers has placed an order for an articulated tug and barge (ATB) unit.
Tomasos signs for dry duo Greece's Tomasos Brothers has revealed an order for two handysize bulkers in China.
K Line goes green Kawasaki Kisen Kaisha (K Line) has unveiled its plans to reduce emissions by 25% on its new car carriers.
Petrobras inks PSVs Petrobras has ordered a new series of eight platform supply ships at three different shipyards.
Frangou favours VLs Greek tanker owner Navios Maritime Acquisition (Navios Acquisition) appears to be growing increasingly interested in the VLCC segment.
Airlines cancel Atlanta flights as storm hits Due to another spat of inclement weather, Delta cancelled 573 flights throughout the Southeast Tuesday and by that afternoon had already pulled the plug on 1,584 flights scheduled for Wednesday.
ILA rejects local contract in Baltimore Riker McKenzie, Local 333 president, said the contract was rejected by a vote of 416-140. He added that members of the union will continue to work and while the union tries to negotiate a "fair and equitable contract."
Port Everglades ICTF begins to take shape
Charleston makes strides growing intermodal traffic The Port of Charleston increased the amount of cargo moving in and out of the port by rail by 18 percent last year to nearly 145,000 containers, the South Carolina Ports Authority reported Tuesday.
Hutchison Port has lower profit in 2013
Donjon to build barge for Seabulk Tankers
G&W has weaker-than-expected Q4
C.R. England, Shell sign fuel agreement C.R. England has signed a multi-year liquefied natural gas agreement with Shell to replace its existing diesel trucks with LNG-powered trucks, which will service Southern California.
Saudia Cargo adds flights to handle flower demand
BNSF to invest $5 bilion in 2014
White House steps up fight against wildlife trafficking
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