Diamond S pulls IPO and market applauds US investors view Wilbur Ross move as indicator of product tanker investor saturation
FMC fines Rickmers Linie $190,000 in compromise settlement German shipowner voluntarily admitted antitrust violations
Ukraine uncertainty generates freight rate risk Local shipping law firm highlights possible political fallout
OSG's plan still up for debate as equity holders look for more value Company would cut $1.2bn if plan is approved
Owners encouraged to order more specialist chemical tankers Divergent views at London conference over vessel ordering
Rotterdam and Antwerp call for NOx-reduction plans from 2016 Ports urge IMO member states not to delay implementing emission rules for shipping
Shipowners ask ports to support Trident Alliance to enforce SOx rules Initiative seeks backing for responsible rule compliance as 2015 sulphur deadline looms
Varun has multiple ships arrested against unpaid debt Free to read: Gulf Oil says Indian company owes hundreds of thousands of dollars for lube
Box Ships skips dividend as containership charter rates plunge But board remains 'committed' to payout policy and will re-evaluate it regularly
Avance Gas plans Oslo IPO in April Stolt-Nielsen, Sungas and Frontline 2012 could sell their shares to boost liquidity
Li clarifies Sinotrans & CSC restructuring plans State-owned giant will put its shipping businesses into a Shanghai holding company
ClassNK will complete MOL Comfort probe by end-August Free to read: Japan class society leads the second phase of investigation into casualty off Yemen
US east coast ports face challenges as larger ships enter transatlantic trades P3 and expanded G6 will expose container terminals' dredging and handling flaws
Timing is everything Two new state-of-the-art terminals will open for business in Rotterdam later this year, but is now the best time to add capacity?
Data Hub: World Fleet Update Some pain, some gain as total capacity rises and more panamax scrapping is expected
Nordic Shipholding reports $9m loss excluding one-off gains Restructuring completed in December has reduced debt by $72.1m
SITC reports a 44% increase in annual net profit Growing regional demand boosts intra-Asia specialist's results
Finland reveals further state aid for its shipowners Move underscores new maritime strategy to 2022 and supports 'greening' of fleets
Cost burden will drive more owners to defy emission-control area rules Half of all tonnage may not comply, given low fines, weak enforcement and soaring fuel bills
FMC approves Seattle-Tacoma port pact US regulators have agreed to let the ports of Seattle and Tacoma share rate and operations information to help them both regain market share amid increasing competition for container business
ECSA appeals for reason on CO² emissions European shipowners body ECSA has appealed to European Union legislators not to extend the scope of the European Commission's proposed regulation on the monitoring, reporting and verification of carbon dioxide emissions from ships
EU port services legislation fails for third time The European Union's proposed port services regulation has failed to gain approval in time for it to be adopted before the European elections in May
GSL prices upsized bond offering NYSE-listed Global Ship Lease, which charters container ships to CMA CGM, has priced a bond offering that will allow it to refinance all of its bank debt
DS Norden rewrites strategy DS Norden has rewritten its strategy after a marked reduction in losses last year, the company said in a statement
Avance Gas plans Oslo IPO LPG carrier company Avance Gas Holding said it plans an initial public offering (IPO) on the Oslo Stock Exchange
COSCON and CSCL need to merge China Shipping Container Lines and COSCON (COSCO container lines) must merge their container operations if they want to achieve the maximum cost-savings they need to improve their financial performances, says leading liner trades analyst Alphaliner
Sinopacific launches new yard in Jiangsu Sinopacific's Yangzhou Dayang Shipbuilding and Haitong Marine Engineering Equipment together launched a construction base in Nantong, Jiangsu Province, today
STX issues shares to banks Troubled South Korean group STX Corporation said today it has issued new shares to its creditors as part of a debt-to-equity swap
Lower coal prices slash Adaro Energy's profit Indonesia's second-biggest coal producer, Adaro Energy, has posted lower profit, which it blamed on lower coal prices
HMM appoints new CEO Hyundai Merchant Marine announced today that Lee Seock Dong has been chosen as its new CEO
One of six LNG projects may materialise Only one in six liquefied natural gas (LNG) liquefaction projects may take final investment decision (FID) as the supply of liquefied natural gas may exceed that of demand by 2025
ExxonMobil's $19Bn PNG LNG plant ready to go Shipments of LNG out of ExxonMobil's Esso Highlands Papua New Guinea (PNG) subsidiary are set for July - four months ahead of schedule - the company told US analysts this week
CN Says Vancouver Truck Strike Delaying Transload Shipments Canadian National Railway told forest product shippers that the ongoing truck strike at the Port Metro Vancouver is preventing them from taking all of their lumber and pulp carload shipments for transloading into containers. The railroad on March 9 placed an embargo on rail shipments to container-stuffing facilities in Vancouver, but...
US Footwear Importers to Diversify Sourcing as China Faces Labor Challenges Rising labor costs and a shortage of workers in coastal China are two of the most serious problems footwear producers in that country face, and those challenges will motivate U.S. footwear importers to diversify some of their sourcing to other countries. "Labor is one of several factors driving sourcing to other...
TRAC: Drayage Service a 'First Step' TRAC Intermodal's planned move into drayage is the first step in the company's effort to expand its portfolio to provide "a broad suite of logistics services," CEO Keith Lovetro said. "TRAC wants to be a more full-service provider to our customers, and not just a chassis operator," Lovetro told the JOC....
Box Ships Scraps Dividend as Container Charter Market Slumps Box Ships posted its 11th consecutive quarterly profit, but the Greek container shipowner skipped a dividend payment to help it survive a slumping charter market. The NYSE-list company booked a net profit of $3 million in the "challenging" final three months of 2013, up from $2.87 million in the year-earlier period;...
Carrier, Three NVOCCs to Pay Civil Fines Totaling $350,000 WASHINGTON - A breakbulk and container line, and three non-vessel operating common carriers have agreed to pay $350,000 total in civil penalties following Federal Maritime Commission allegations that they violated the Shipping Act of 1984 and the agency's regulations. The carrier, Rickmers-Linie, and NVOs OBI Shipping, Benison Transport and Shine International Transportation...
EU Proposes Tariff Cuts to Help Troubled Ukraine Euromaidan protesters in Kiev, Ukraine in January 2014.The European Commission is proposing to remove customs duties on Ukrainian exports to the European Union until Nov. 1, 2014, in response to political and economic turmoil in the nation. If approved, existing EU tariffs for industrial goods exported from Ukraine will be removed immediately...
Drewry's Eastbound Trans-Pacific Rate Unchanged Ahead of GRI Drewry Container Rate Benchmark, March 12, 2014 Full-size image The Drewry benchmark rate for shipping from Hong Kong to Los Angeles remained flat at $1,886 per 40-foot container in the week of March 12. In seven of the past 10 weeks, rates have remained unchanged week-to-week. "The development in volatility is quite subdued...
Trans-Pacific Vessels From Shanghai Post Worst Reliability Levels Port of ShanghaiCarriers' schedule reliability from Shanghai to Oakland, Calif., showed the greatest variation in eastbound Asia-to-Southern California route performances during the period from the third quarter of 2011 through the fourth quarter of 2013, according to SeaIntel's latest Sunday Spotlight report. By analyzing the regularity of container ships departing from...
Mexican Rails Gain Ammunition in Concession Agreement Defense The release of a new study on the Mexican freight railway industry provides ammunition to the sector's defense of its concession agreements, and hints at a potential compromise between the railroads and legislators aiming to open up industry to other carriers. The results of the peer review - conducted by the Organization...
Diversions, Violence as Vancouver Trucker Strike Continues The trucking environment in Vancouver is turning uglier by the day, with drivers who dare to work at the Canadian port facing retribution from striking drivers, and cargo diversion already becoming a reality. The consensus among maritime industry executives is that a solution to the bitter trucking strike must be found...
Five-year fixture fails All eyes were on the period market Wednesday amid reports that a capesize bulker was on the fringe of firming up a five-year fixture.
Classic takes Bocimar cape Rates for capesize bulkers appear to be losing ground in both the period and spot markets but some vessels are still commanding premiums.
Coup comes to light Jacques Saade appears to be mounting a campaign aimed at ousting the chairman of Global Ship Lease's (GSL's) board of directors.
Naviera back at Damen Naviera Integral of Mexico has returned to Damen Shipyards Group for four more fast crew boats backed by charters to compatriot oil company Pemex.
Korea eyes storage surge South Korea is planning to become North-east Asia's leading oil storage hub with investment of $1.4bn.
Cargoship in distress A general cargoship is awaiting assistance off Norway after losing power in stormy seas.
Owner unmasked Sea Pride Shipping of the UAE has emerged as the owner of a tanker that broke through a naval blockade in Libya after loading crude from a rebel-held port.
Rand seals debt deal Great Lakes bulker owner Rand Logistics is on a surer footing after putting the finishing touches to a huge refinancing package.
GSL ups debt sale Boxship owner Global Ship Lease (GSL) has added another $20m to its notes offering as it seeks to pay off borrowings.
Nordic wins survey job Singapore group Nordic Maritime has clinched a $23.5m contract to provide 3D seismic data off India in tandem with Sovcomflot (SCF) of Russia.
Coastal eyes over $60m Malaysian shipbuilder and owner Coastal Contracts is targeting over $60m from a proposed private placement.
Estate sells Maersk slice The estate of Maersk Mc-Kinney Moller has sold out of AP Moller Maersk.
Mermaid banned from EU A Greek-managed general cargoship has been barred from European Union ports for three months after failing a second port state control check in 36 months.
Two more for Vard Fincantieri-owned Vard Holdings has secured another offshore vessel order a day after announcing its biggest ever ship contract.
Nordic ends in black Nordic Shipholding ended a tumultuous year in the black thanks to its financial overhaul in November.
Mermaid raises $218m Mermaid Marine Australia has sold AUD 243.5m ($217.8m) of new shares as it prepares to take over Singapore's Jaya Holdings.
Heung-A edges up Korean boxship and tanker owner Heung-A has pushed up profit in 2013 as revenue grew.
HMM's change at the top Korea's Hyundai Merchant Marine (HMM) has appointed a new chief executive officer just days after revealing a loss for the third year in a row.
Avance hunts Oslo war chest Avance Gas has confirmed plans to complete an initial public offering (IPO) on the Oslo Stock Exchange in a move which will bolster its resources for further expansion.
Ferry crunched A Scottish ferry has smashed into a pier, damaging its bow.
CMA-CGM expands Rhino CMA-CGM's recently introduced Rhino Express feeder service dedicated to Mozambique is set to be upgraded.
Fayard profit rises Danish shipyard Fayard has increased annual earnings as costs fell.
Hunger strikers removed Three crew on hunger strike have been taken off an arrested Varun LPG carrier by India's coast guard.
Sinopacific bags four Sinopacific Shipbuilding Group has won newbuilding orders for up to four kamsarmax bulkers.
Maersk orders cable layer Maersk Supply Service has ordered a newbuilding cable layer from Dutch shipbuilder Damen on the back of a long term charter.
Visibility warning Shipowners have been advised to use caution when operating in Singapore waters due to reduced visibility caused by haze.
US set for bumper March Major US container ports are forecast to see a year-on-year growth of 12.4% in inbound volumes in March.
Ross defends decision Wall Street legend Wilbur Ross has confirmed reports that US product tanker owner Diamond S Shipping has abandoned plans to complete an initial public offering (IPO) in New York.
Box Ships pulls payout Greek containership owner Box Ships has opted against the payment of a fourth-quarter dividend in an effort to preserve liquidity.
Diamond dims Wilbur Ross-backed Diamond S Shipping has pulled its New York IPO after finding investors unwilling to back the deal within its target pricing range, a finance source tells TradeWinds.
Draymen face chassis shortage in NY, NJ The Port of New York and New Jersey is being severely impacted by a shortage of chassis needed to deliver and pick up containers at marine terminals, according to drayage companies and forwarders/custom house brokers.
IATA: Global cargo demand to rise in 2014 Global air cargo demand growth is projected to hit 4 percent this year, a significant increase over the previously forecast 2.1-percent growth rate for 2014, according to IATA.
Group pushes for Miller confirmation Leaders of the Consumers for United Rail Equity recently penned a letter to Senate Majority Leader Harry Reid and his Republican counterpart, Mitch McConnell, stressing the importance of putting Miller on the board.
Hub Group unveils drayage name change
Ruscon starts flexitank service to Kazakhstan
TNT Express to invest in hub
Evergreen to end VSA Evergreen Line is planning to terminate its vessel-sharing agreement on the ANS USEC-Caucedo-Brazil service in April, the company said Wednesday.
Ship Finance International acquires 5,800-TEU ships
Pipeline proposed between Albany, New Jersey
Executive moves Executive positions have been filled at Kenco, AmeriQuest Transportation Services, MOL (America) and The National Foreign Trade Council's Trade Committee.
Shipowners' hopes dashed over LNG infrastructures '2025 deadline simply too far to have an impact.'
Argentina tightens rules for declaring onboard bunkers, lubes Misdeclaration can lead to 'costly' fines.
Industry players to join LNG discussisons US Coast Guard to hold workshop on issues linked to the use LNG and other low flash point fuels as bunker material.
Prices firm in southern ports Heavy congestion reported in Gibraltar.
Mid-week prices soften in Fujairah Cape Town out of MGO product.
Trader transfers to Singapore Maria Eliseeva is moving from Dan-Bunkering's Kaliningrad office.
New study: Marine fuel demand seen growing until 2025 LNG could account for up to 11% of fuel mix by 2030, but HFO still the dominant fuel.
Singapore targets air quality Particulate matter to be measured in assessing pollution levels.
ARB doles out fines for failing to switch to distillates Some well-known names among those caught out by rules.
Antwerp makes LNG bunkering 'official' Belgian port formalises approach to LNG bunkering.
Asian prices ends day stable Average to above-average demand seen in Hong Kong.
Dual-fuel newbuild will operate inside European ECA Maersk Supply Service newbuild is expected to be deployed in the North Sea.
Oil products specialist stays in the black Firm seeking to lease bunker storage capacity to maintain top line growth.
Fuel scrubber maker selects US firm as installer 'Looking forward to a long and mutually beneficial relationship,' says Poly Shield Technologies.
Titan winding up petition adjourned Secures $8.02 million from subsidiary of Guangdong Zhenrong Energy.
Haze alert issued at Singapore port Visibility could be 'significantly reduced', says MPA.
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