Potable water rules tighten for ships Misunderstood or overlooked requirements are driving up violations of drinking water regulations on ships, according to providers of sanitation systems. Last year's introduction of the Marine Labour Convention's standards for Food and Catering lays down regular documented inspections of drinking
New seal design extends eco protection A new generation of seals for stern tubes and thrusters, based on a bottom-up redesign and offering reduced repairs, has been introduced by Stone Marine Seals. The Eco Seal replaces traditional seal design elements with a new internal architecture that avoids the need for any parts to rotate
ITF wins US seafarer service award The UK's Stephen Cotton, general secretary of the International Transport Workers' Federation (ITF), has been awarded the 2014 Admiral of the Ocean Sea Award by The United Seamen's Service (USS). Co-winners of the award were Joseph Cox, president/CEO of the Chamber of Shipping of America, and
Cost could hamper Asia's take-up of LNG LNG's high shipping costs could make it hard for the fuel to become significantly cheaper, said speakers at the International Energy Agency (IEA) press meeting today in London. Background costs for LNG - including extraction, liquefaction, and transport - combine to make it a more expensive source
Thieves strike again in Mauritian port Indian Oil Mauritius (IOML) informed police yesterday that it had uncovered a major theft of oil from its terminal within the port precincts at Port Louis, Mauritius. According to Le Mauricien newspaper, 114 barrels of lubricating oil, totalling 23,806 litres and worth Rs1.7M ($54,000), were found
STX plans India LNG shipbuilding move STX Offshore & Shipbuilding Co has offered to share technology with three Indian yards for constructing LNG carriers in India. But the beleaguered South Korean shipbuilder needs India's state-owned natural gas firm GAIL (India) to relax its terms on a tender for nine vessels to let it participate.
Aquarius ballast treatment gets USCG nod Wärtsilä's Aquarius EC Ballast Water Management System (BWMS) has been granted acceptance as an alternative management system (AMS) by the US Coast Guard (USCG), says the engine maker. With this clearance Wärtsilä has passed the first stage towards full USCG type approval, which the company aims to
Boustead awards $78.3M contract to CAD Malaysia-listed conglomerate Boustead Holdings has awarded a EUR63M ($78.3M) contract to Contraves Advanced Devices (CAD) to build six frigate-class patrol vessels for the Royal Malaysian Navy. The contract was issued by Boustead Naval Shipyard (BNS), a subsidiary of Boustead holdings, for
Eitzen aims to swap its debts for equity Eitzen Chemical, the listed Norwegian chemical carrier group, said today that it expects debt-to-equity conversion to repair its balance sheet amid widening losses. In the third quarter, the group lost $23.7M, compared with an $18.4M shortfall in the same period last year, while revenues slipped to
HHI bags Abu Dhabi oilfield contract Hyundai HI (HHI) has signed a $1.94Bn contract with Abu Dhabi Marine Operating Company (ADMA-OPCO) to develop Abu Dhabi's al-Nasr offshore oilfield in the UAE. As part of the second package of the al-Nasr Full Field Development Project, HHI will provide engineering, procurement, construction,
Low oil price clouds Subsea 7's outlook Subsea 7, a London-based seabed-to-surface construction company, warns that cheaper oil could make it harder for the firm to win new contracts. CEO Jean Cahuzac repeated a warning he has made throughout the year that the timing of large-scale projects remains uncertain. "This trend was
Maritime job seekers hunt permanent work Skilled seafarers are available in the job market but may need to be coaxed into the positions on offer through longer-term contracts, according to a new survey. Worldwide Recruitment Solutions (WRS) analysed 5,300 responses from job seekers and found the maritime industry has plenty of experienced
MOL forms Clean Products Tankers Alliance Japan-headquartered shipping company, Mitsui OSK Lines (MOL) has reached an agreement with Ultranav International (Ultranav), OSG International and Asahi Tanker to form a new product tanker pool. The new pool named Clean Products Tankers Alliance will operate a combined fleet of around 60 MR
South Korean shipbuilders face credit rate cut Several shipbuilders are among a host of South Korean firms that had their credit ratings downgraded, due largely to their poorer-than-expected 3Q earnings. Hyundai HI (HHI), the world's largest shipyard, was cut by one notch by two local rating agencies to "AA" from "AA+" due to its 3Q earnings.
Six rescued after vessel collision A total of six crew members on board a Chinese cargo vessel were rescued yesterday after a collision with a container ship off Xiamen, China. Chinese cargo vessel Hai Run 607 with six crew members on board collided with 2008-built 1,740teu container ship Hansa Siegburg late yesterday southeast of
China coal imports down 7.7% y/y China's coal imports declined 7.7% year on year to 243M tonnes in the first 10 months in 2014 due to competition from cheaper domestic coal. The drop in coal imports accelerated in October, according to China's latest customs statistics. Import prices fell 15.3% y/y to CNY475.6 ($77.6) per tonne
Hoegh and Wallem Ship Management to set up JV Hoegh Autoliners and Wallem Ship Management plan to establish a joint venture company in Singapore to manage 28 vessels operated by Hoegh Autoliners. The company will handle the technical management of all Hoegh Autoliners-owned vessels, a statement of Wallem said today. There are 28 owned vessels
Samsung HI clinches contracts worth $700M South Korean shipbuilder Samsung HI (SHI) clinched contracts to build two offshore platforms worth $700M. One of the orders was commissioned by Royal Dutch Shell (Shell) for construction of a substructure of a floating production unit (FPU); the project is already in the design stage. A SHI company
Ross promotes his eco newbuild strategy Billionaire investor talks publicly for the first time about purchase of four suezmax tankers and four VLCCs
Fallout from OW Bunker bankruptcy continues Owners using independent suppliers are warned to take care
Lower crude prices fail to raise tanker stocks Glut of cheap oil seen as boom for tonne mileage and bunker savings
Transpacific volumes increase 9% in September Increase comes despite port congestion and concerns over a west coast port shutdown
Eitzen Chemical struggles in third quarter Chemtanker owner in talks with creditors to strengthen balance sheet, while facing weaker Chinese chemical demand in 2014
Matson fulfils ambition to expand into Alaska trades Jones Act lines consolidate as Horizon break up allows Matson and Pasha to expand
Maersk performance better than share price declines suggest Macquarie says Danish shipping giant's third-quarter performance affected by $70m tax charge
Tsakos elected chairman of Intertanko New leader champions self-discipline but also better remuneration for industry
Throughput continues to rise among top ranked ports Combined volumes of top ten box ports up 5.6% in first nine months of 2014
VLCC earnings steady as December loading programme poised to start Steady and flat better than low and miserable
K Line expands orderbook of capesize bulkers Japanese conglomerate and TCC places joint order at Imabari Shipbuilding
Containership queue outside LA/Long Beach lengthens MSC Francesca largest vessel at anchor as 14 ships wait to berth
Industrial regulator delays Port Hedland strike Maritime engineers must vote on Teekay's enterprise agreement before going on strike
Habben Jansen wants to revive Hapag-Lloyd's fighting spirit Post-merger with CSAV, Hapag-Lloyd will take its place as the world's fourth-largest shipping company. But the new chief executive only wants the line to be the best
What does the latest round of tanker results tell us? Gradual freight market recovery appears to be more than just idle talk
OSG benefits from gains on one-off items New York-listed company sees rate gains for VLCCs and aframaxes
Industry viewpoint: Action needed on port congestion The growing problem of port congestion needs to be tackled by an industry forum at a global level
Norden losses continue with weak dry cargo demand Improvements in product tanker segment offers glimmer of hope for group
Maersk to place ship orders in coming six months Return to shipyards follows bumper results and need for capacity from 2017
Horizon bought by Matson and Pasha Group Matson takes over Alaska operations in $456.1m deal while Pasha is to acquire Hawaii business for $141.5m
US releases toolkit to help ports plan, fund projects The U.S. Maritime Administration today released the first phase of a manual aimed at helping port authorities plan and fund port infrastructure improvements. The first module, titled Funding Strategy Guide, is part of a broader Port Planning and Investment Toolkit aimed at helping U.S ports pay for maintenance and expansion work...
Final shipment of Panama Canal gates arrives The final shipment of gates for the new locks of the expanded Panama Canal arrived today, bringing the project that will allow for the passage of bigger vessels into its final stages. "We are now in the homestretch to complete the expansion," said Panama's President Juan Carlos Varela during a brief...
Ryder, Mansfield Clean Energy team up to deliver CNG to bulk fuel fleets Global truck and equipment lessor Ryder System and Mansfield Clean Energy Partners will join to offer a compressed natural gas fueling service to bulk fuel haulers, with Ryder supplying vehicles and truck maintenance facilities and Mansfield the CNG fueling stations. The goal is to convert more of the bulk fuel hauling...
US, Brazil to study potential trade agreement The Brazil-U.S. Business Council, which is affiliated with the U.S. Chamber of Commerce, has signed a cooperation agreement with the Brazilian National Confederation of Industry to conduct studies on a potential trade agreement and report back to both governments on the results. The BUSBC-led delegation brought more than 50 business leaders from...
Lawsuit aims to block CSX effort to double-stack trains through Washington DC WASHINGTON - A group opposing the reconstruction of a CSX Transportation tunnel in a Washington D.C. terminal that would allow the railroad to double-stack containers has filed a lawsuit challenging a federal decision to let the project proceed. The Committee of 100 on the Federal City today filed a lawsuit in...
Dockworkers shut down SSA terminal in Oakland The tinderbox that is West Coast ports caught fire again today when members of the International Longshore and Warehouse Union shut down the SSA Marine terminal at the Port of Oakland. The incident occurred at 10 a.m. local time when the terminal sent one ILWU work gang home because there were...
Rising US chemical production spurs logistics, trucking, intermodal growth A South African firm's decision last month to build an $8.1 billion plant in Louisiana that will triple its chemical production capacity in the U.S. underscores widespread growth in U.S. chemicals manufacturing and in supporting logistics and transportation services. Sasol on Oct. 27 made a final decision to build an ethane...
Drewry's trans-Pacific benchmark spot rate declines 2.7 percent Trans-Pacific spot rates sank 2.7 percent this week to $1,875 per 40-foot container. Full size chart. Drewry's benchmark spot rate from Hong Kong to Los Angeles lost all pricing gains associated with an Oct. 15 trans-Pacific general rate increase, and will rely on next week's Nov. 15 GRI to make up some...
Strong container growth at major India ports The number of export and import containers moving through major ports in India expanded 7.34 percent year-over-year from April to October, the first seven fiscal months, as the government of Prime Minister Narendra Modi is making port development a major priority. Full-size imageThe 12 state-owned ports cumulatively handled 4.66 million 20-foot-equivalent...
Canadian spot truck volumes up 21 percent as US-bound freight grows Full-size imageA 70 percent increase in truckloads moving from Canada to the U.S. and an improving North American economy boosted Canadian truck freight volumes in October, with spot market volumes rising 21 percent year-over-year, according to TransCore Link Logistics. On a month-to month-basis, spot market freight volumes stabilized at an elevated...
Congress increases pressure on ILWU, PMA to reach deal WASHINGTON - After weeks of remaining relatively quiet on U.S. West Coast labor tensions, Congress is raising its voice on the need for the International Longshore and Warehouse Union and waterfront employers to forge a new labor contract. Six senators from California, Washington and Oregon today sent a letter to the...
Maersk weighs steps to boost trans-Pacific profits Maersk Line is reviewing the ocean and inland services it provides in the trans-Pacific trade, a notoriously high-cost and unprofitable trade lane for container lines, with an eye to increasing the rates it gets for those services or eliminating those that don't make money. The Danish carrier is considering three measures to...
Advancing Global Trade: Foreign Trade Zone Solutions Revealed With 85% of companies engaged in overseas operations, changes in labor rates and fluctuating fuel prices can have a major impact on profits and the global economy. That's why it's no surprise that over 76% of companies are reassessing their inbound supply-demand network to consider Foreign Trade Zones (FTZs). This Aberdeen...
Brazilian official promises $1 billion investment in ports next year Although many in Brazil are dismayed by the lack of investment in the country since the much vaunted new Port Law 12.815/13, the nation's Special Ports (SEP) Minister Cesar Borges has asserted that 2.8 billion reais (US$1.095 billion) will be spent on the sector before the end of 2015. Speaking at...
Intermodal at a critical crossroads With intermodal loadings in record territory and the railroads pushed to the limit to move the volume, it might seem a bit strange to be sounding an alarm about a slowdown. But the intermodal industry is entering a period of vulnerability after a prolonged period of growth. While trouble isn't...
Deutsche Post DHL earnings, revenue grow on strong express performance Germany's Deutsche Post DHL booked higher third-quarter earnings as strong gains in international express and domestic parcel shipments offset shrunken margins at its global freight forwarding unit. The world's biggest mail and logistics company increased operating profit by 4.8 percent to 677 million euros ($846 million) in the three months through...
Record Alibaba 'Singles' Day' sales reveal China delivery challenges HONG KONG - The millions of products ordered online in China during the November 11 "Singles Day" will have to be delivered across mainland China in the next couple of weeks, placing intense pressure on distribution networks in the country. During the online shopping frenzy, sales by e-commerce giant Alibaba on...
Customers to pocket bunker savings, but must pay low-sulfur levies, Maersk chief says HONG KONG - The speed at which the oil price fell took Maersk by surprise as bunker fuel dropped $20 in the past month, but Maersk Group CEO Nils Andersen said customers would benefit from the lower prices. "Falling bunker prices will be transferred to the customers, with some modest delays,"...
Beney to Navios The top US-based shipping man for mammoth conglomerate Cargill has left his job after four years to take a senior commercial post with the Navios group, where he began his career.
Washingtons grow stake The family of Montana billionaire Dennis Washington has added more shares to their holding in Seaspan Corp.
Investors rush to Matson Matson saw its market capitalisation grow by $237m today after announcing that it would take over most of rival Horizon Lines.
A bull, a bear, an eagle? The battle matched a bull and a bear. But an eagle soared above it.
Court OKs seized ship sale A Canadian judicial official has approved the sale of a handysize bulker at the centre of a legal dispute in Montreal.
Greek seizes MOL ship A Greek shipping company has secured the arrest of a Mitsui OSK Lines car carrier in South Africa.
Novoship loses appeal bid The UK Supreme Court has rejected Novoship's efforts to appeal a ruling allowing a Russian businessman to retain over $100m in profit gained from corrupt charters.
Bank grabs Tsangaris ship Credit Agricole was on Wednesday the only bidder for 27,800-dwt bulker Niki T (built 1997), the third vessel in the fleet of Greek owner Tsangaris Bros which the French lender had foreclosed on over unpaid loans.
Wilbur Ross talks tankers Billionaire investor Wilbur Ross is "more in than out" of investing in suezmax tankers.
GLOP signs for $450m US-listed GasLog Partners (GLOP) has clinched a refinancing deal worth $450m.
Rickmers taps bonds Germany's Rickmers Holdings has sold another EUR 25m ($31.16m) of its five-year bonds to finance growth.
Concordia sees red A low level upturn in the tanker market has seen Sweden's Concordia Maritime post a bigger loss in the third quarter.
DHT has VLCC loans in sight DHT Holdings is confident it will wrap up financing for its two unfunded newbuildings in the first half of next year.
Four more sue OW More fuel suppliers have gone to court in Singapore in a bid to recover cash from bankrupt Danish group OW Bunker.
Strong Q3 for Swissco The recent acquisition of Scott and English Energy has almost doubled Swissco's earnings during the third quarter.
Swiber posts a loss A significant decline in revenue has made Swiber Holdings post a loss for the third quarter of the year.
Bergen Bunkers halts deals OW Bunker's Norwegian subsidiary Bergen Bunkers will not enter into any new ship fuel contracts following the collapse of its parent.
Kayne slices Capital stake Major shipping investor Kayne Anderson has cut back its holding in Capital Product Partners.
Hold on to your cash The Charterers P&I Club has warned companies owing money to bankrupt OW Bunker not to pay any bills to other creditors without checking with its experts first.
Wallem wins Hoegh deal Wallem Ship Management has clinched a deal to manage all of Hoegh Autoliners' vessels.
Skagen cuts Avance stake Harald Espedal's Skagen has cashed in stock worth almost $30m in VLGC specialist Avance Gas.
Indonesia readies cash Indonesia is preparing a subsidy scheme for shipping in a bid to boost economic growth.
Eitzen in deeper deficit Deeper red in the third quarter bottom line has been the result of lower charter rates for Eitzen Chemical, with the company still suffering from hefty long-term debt.
Norden better than feared Difficulties in the bulker and products tanker markets sent Norden to a loss in the third quarter.
Subsea 7 stronger Oslo-listed Subsea 7 has been boosted by Brazilian operations in the third quarter.
Caspian yard coup Royal HaskoningDHV and Witteveen+Bos have won an $18m deal to design a new shipyard in Kazakhstan.
Mixed numbers at DESS Deep Sea Supply (DESS) has posted a modest decline in third quarter net income, despite a hefty rise in revenue.
OW: The arrests begin Hin Leong Trading has fired the first shot in what is expected to be a large number of vessel arrests stemming from the bankruptcy of Danish bunker supplier OW Bunkers.
Swissco bags rig charter Swissco Holdings has secured a charter worth $115m for the provision of a service rig for an unnamed oil company.
ADM bulker detained Archer Daniels Midland (ADM) has seen one of its bulkers detained in the UK for failing a port state control inspection.
TCC teams with K Line Tai Chong Cheang Group (TCC Group) is teaming up with Japan's K Line in a capesize bulker joint venture.
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