Varun pledges to keep operating despite arrests and pending ship sales Mumbai owner seeks interim documents after shipping directorate cancels its compliance
BlackRock rates Aegean Baltic the most strongly capitalised Greek bank Boutique ship finance player aims to expand its portfolio
Libya's crude oil shipments dwindle as rebels block terminals
Casualty data analysis shows a drop in shipping losses for 2013 Fewer than 100 total losses but insurers worry about storms, liquefaction and catalytic fines
Ukraine could lose control of state-owned Crimea ports to Russia Region's breakaway government hints at takeover if Sunday's referendum goes its way
China players take 60% stake in Asia Container Terminals Cosco Pacific and CSTD buy into Hutchison Hong Kong port holding company
Chapter 11 costs hit OSG results Shipping revenue sees slight dip
NewLead places $25m of shares with Ironbridge to fund fleet expansion Greek bulk carrier owner will invest part of the funding in two handysize vessels
Box Ships sees a future for panamaxes but calls for more scrapping Containership owner says cutting dividend is prudent due to lower rates
Russia-Ukraine standoff hits Crimea spring grain sowing Barley, wheat and maize crops will suffer as turmoil cuts fuel supplies to region's farmers
Retailers voice port congestion fears as US box imports are set to increase New York and New Jersey may struggle with March double-digit volume growth
Qatar Navigation signs two-year deal to ship chemicals in containers Milaha will export product from Mesaieed to hub ports around the Middle East Gulf
Data Hub: Trade Route Intelligence Alliances could dominate the Asia to North Europe route, but their creation will not solve the overcapacity issue
Loss of MOL Comfort forces class societies to take action Boxships will become stronger and better able to withstand weather and loading extremes
Electronic bills of lading take another step forward EXCLUSIVE: NYK Line uses essDocs to process documents sent to Elite International
Thoresen Shipping buys three more supramax bulk carriers Deals worth $70m bring bulk specialist's fleet to 23 owned vessels
Jinhui Shipping posts 22% drop in net profit Chairman warns that market will stabilise only after speculative buyers are forced to exit
IHC launches Saudi cutter suction dredger IHC Merwede, the Dutch builder of dredging and mining vessels, launched cutter suction dredger 'Al Bahar' C/D Huta 12 on 8 March at its yard in Kinderdijk, the Netherlands
First 24,000teu ships set for 2018 The Allianz insurance group has said that it expects the first 24,000teu container ships to come into service around 2018
Simpson lands EU sea motorways job Brian Simpson, chairman of the European Parliament's transport and tourism committee, has been appointed coordinator for motorways of the sea under the European Union's new transport infrastructure policy for the 2014-20 period
Varun Shipping seeks new licence Mumbai-based Varun Shipping Company Ltd (VSCL), which has just completed restructuring of its business, has sought a licence to operate its ships under Varun Global Ltd, a group ship management company
Debts outstrip assets at STX STX Corporation today confirmed that its capital has been impaired by more than 50%, after posting its worst annual result
STX O&S chief champions rebuilding process STX Offshore & Shipbuilding may be going through a rough patch as it restructures its huge debt but its road to recovery has been mapped out, said its co-CEO Jung Sung Leep today
SDARI unveils new VLOC design Shanghai Merchant Ship Design & Research Institute (SDARI) has unveiled an upgraded version of its very large ore carrier design, touting specifications of greater fuel efficiency, fewer emissions and lower ballast
MOL cuts emissions through catalytic reduction Mitsui OSK Lines is reducing nitrogen oxide emissions by installing a selective catalytic-reduction system on one of its Capesize bulkers
Thoresen Shipping buys three more ships Thoresen Shipping Singapore, a wholly owned subsidiary by Thoresen Thai Agencies (TTA), has bought another three secondhand Supramax bulkers
Indonesian cabotage ups rates for offshore vessels Cabotage rules are firming charter rates for offshore vessels in Indonesia, said UOB Kay Hian Securities (UOBKH)
Otto Marine wins $24.9M OSV charter contracts Singapore's Otto Marine, an offshore marine company, announced today that it had secured a charter contract amounting to $24.9M for three offshore support vessels
ClassNK to finalise MOL Comfort probe by August Japanese classification society ClassNK has pledged to complete its investigation into the break-up of MOL Comfort by August
Toy Shippers Urged: Prepare for Port Shutdown The Toy Industry Association is advising its members to make contingency plans for their summer-fall shipments in case contract negotiations between the International Longshore and Warehouse Union and West Coast waterfront employers break down in July. "A stoppage at the West Coast ports would be highly detrimental to the U.S. toy...
Orbcomm Buys Euroscan, Expands Reefer Business Orbcomm, a global wireless asset-tracking company, has acquired Euroscan, expanding its product line and ability to track refrigerated containers and trailers worldwide. Euroscan equipment monitors the temperature of refrigerated trucks, trailers and containers, with 200,000 units installed worldwide, the companies said. The acquisition gives Orbcomm "a significant distribution channel in Europe and...
Supporting the Internet as a platform for International Trade According to a study released by Brookings Institution, significant trade reforms are needed to help small and medium-sized enterprises (SMEs) benefit from the Internet as a platform for e-commerce and international trade. The study by Joshua Meltzer, Fellow, Global Economy and Development Program, Brookings Institution, cites a host of global...
'K' Line Diverts Vancouver Local Cargo A truck gate at Port Metro Vancouver. "K" Line said a trucker strike at Port Metro Vancouver has forced the carrier to declare force majeure and to divert import containers for local Vancouver delivery to Tacoma, Wash. The carrier said the declaration affects shipments on the Genoa Bridge and Yang Ming New...
The Bigger the Ship, the Worse the Loss Risk As container ships grow ever bigger, the potential of catastrophic losses is also growing. On top of that, the container shipping trade continues to be plagued by losses related to misdeclared container weights and the misidentification of their contents, a danger that will only increase as ships get bigger. Marine...
PIERS: US Containerized Imports Down in February U.S. containerized imports through February 2014. Full-size image U.S. containerized import volume fell 7.2 percent year-over-year in February 2014, according to advance figures from PIERS, the data division of JOC Group Inc. Imports totaled 1.32 million TEUs in February, tumbling 16.3 percent from containerized volume in January. "While the U.S. labor market made...
Visibility in the Inbound Supply Chain Companies are looking for ways to make their supply chains more efficient, cost-effective, and competitive. More suppliers and partners are involved in the inbound supply chain than ever, and manual processes are becoming too complicated to continue. Risk and volatility is driving up transportation spend, landed costs, and expenses related...
Trucker Electronic Logging Mandate Edges Closer [Updated] [Updated March 13, 1:15 p.m. EST] WASHINGTON, D.C. - A proposed rule that would require the use of electronic logging devices in all heavy trucks and buses in the U.S. will shortly be released and ready for public comment. The Federal Motor Carrier Association today said it sent its long-awaited, controversial proposed...
INTTRA CEO Ken Bloom Stepping Down In the 14-year growth of INTTRA, it has evolved from a startup launched by several carriers as an online cargo-booking service for their customers into a portal where shippers can see where their cargo is in their supply chains. Now it is getting ready for a third step: digitizing of...
Hong Kong JV Paves Way for Mega-Ship Handling Port of Hong KongThe Port of Hong Kong got a much needed boost in its capacity to handle container mega-ships after the port's operating arms China Ocean Shipping Group and China Shipping Group said they will take a $318 million stake in the owner and operator of a major container...
Lufthansa Cargo Profit Slumps 27 Percent Lufthansa Cargo's earnings slumped 27 percent in 2013, but it was one of the few airlines that turned a profit in a subdued global air freight market. Operating profit fell to €77 million, from €105 million in 2012, as revenue dipped 9.2 percent to €2.44 billion. Freight volume declined by 1 percent...
Air Cargo Industry Needs to Cut Transit Times, IATA Says With more shippers choosing to defer shipments to delayed air services, ground and even ocean transport, the air cargo industry needs to respond boldly by cutting average end-to-end transit times by up to 48 hours by the end of the decade, an International Air Transport Association executive said earlier this...
Etihad Rail, Abu Dhabi Ports Co. Plan Rail Facility at Khalifa Etihad Rail, the United Arab Emirates' national railway network developer and operator, has signed a memorandum of understanding with Abu Dhabi Ports Co. for the development of an integrated bulk and container railway terminal facility at Khalifa Port. The deal was signed by Nasser Al Mansoori, CEO of Etihad Rail, and...
US Red Meat Exports Could Face 'Challenges' in 2014 Mexico was the top market for U.S. pork exports by volume in January, although the No. 1 market in terms of value was Japan.U.S. red meat exports kicked off 2014 on a "positive note," although market conditions suggest the year ahead could be "challenging," according to statistics released by the...
GSL loses ground Investors appear to be rattled by rumours that Jacques Saade is looking to unseat the chairman of Global Ship Lease's (GSL's) board of directors.
Irving case not closed Irving Shipbuilding says it will continue its litigation against a former employee over an alleged data breach as he departed for compatriot rival Davie Yards.
Forland offloads one Forland Shipping has offloaded one of only three offshore support vessels in its fleet.
BSC's bill rises Bangladesh Shipping Corp's (BSC) quest to buy six vessels is likely to cost it 10% more than originally planned as prices rise.
Cape for DryShips? George Economou's DryShips is the latest listed company to be linked with a KCH Shipping capesize bulker.
Milaha bags petchem deal Qatar Navigation (Milaha) has clinched a two-year contract to ship petrochemicals for a compatriot company.
One dead in smash One man has been killed and another 10 are missing after a collision between their fishing boat and a cargoship off the Philippines.
OSG reveals big loss Bankrupt US tanker owner OSG has posted a big loss in 2013 due to restructuring costs, but the operating deficit decreased.
Relief for capes Capesize owners breathed a sigh of relief today as heavy falls yesterday were not repeated.
Hanjin Shipping plans merger Korea's Hanjin Shipping is set to merge with its parent company as part of its efforts to return to profitability.
NITC eyes ship buys National Iranian Tanker Co (NITC) wants to add vessels as sanctions ease - and could make a move into LNG shipping.
Ship casualties fall A reduction in ship total losses is reported by the big Allianz insurance group in an annual safety review although the quality of the data used is open to question.
Cruise figures hit peak Cruise voyages by Europeans hit a record high in 2013, according to figures from industry body Cruise Lines International Association (CLIA).
DVB cautious on VLCCs DVB Bank has delivered a sobering assessment of the VLCC market at a time when owners and investors are showing a keen interest in the sector.
Rickmers fined in US Germany's Rickmers-Linie is paying $190,000 to the US Federal Maritime Commission (FMC) after failing to notify it of a space charter deal.
Basili joins Pac Basin board CG Rieber chief executive Irene Waage Basili has been appointed as a director of Pacific Basin Shipping.
Cosco Pacific splashes cash China's Cosco Pacific has taken a 40% stake in Hong Kong's Asia Container Terminals (ACT).
STX nears Euro sale The European division of struggling Korean shipbuilder STX looks set to have a new owner by the end of the first half of this year.
Swire profit soars Swire Pacific's marine services division has reported a 36% jump in 2013 earnings as its offshore fleet grew.
Legatum adds more SALT One of Scorpio Bulkers' largest shareholders has boosted its interest in the New York-listed shipowner.
Ardmore ups the ante Ardmore Shipping has been tipped to move fast in deploying the capital raised from its latest trip to Wall Street.
China ups marine GDP The gross domestic product (GDP) of China's maritime industry reached CNY 5.43 trillion ($884.9bn) in 2013.
Fosenbulk under tow A Norwegian cargoship that lost power in a storm has been taken under tow.
Varun loses licence India has withdrawn loss-making Varun Shipping's document of compliance over delayed drydockings and wage arrears.
ULTR in five year high Ultrapetrol, the Argentine-based shipowner, has booked its first full-year profit in at least five years.
Logindo goes large Logindo Samudramakmur has reported an 86% jump in FY2013 profit fuelled by increased tonnage and better utilisation.
Thoresen takes Top ships Thoresen Shipping has confirmed that it has acquired three modern supramax bulkers enbloc for $70m in total.
Otto Marine ties-up trio Otto Marine has secured charter contracts for three of its anchor handlers in deals worth $24.9m in total.
Chemical tanker freed A Hong Kong-owned chemical tanker arrested in Singapore last week has been released court documents show.
Report: Rail rate premiums skyrocket During the past six years, rate premiums paid by shippers to railroads have skyrocketed by 90 percent, even as carload volume has fallen by 1.1 percent, according to a recently released report by Escalation Consultants.
Domestic freight activity falls in January
Cathay sees February cargo decline
Insurer sees decline in ship losses, rise in new challenges Allianz Global Corporate & Specialty reported a decline in shipping losses for 2013, with just 94 losses of ships of more than 100 gross tons worldwide, compared to 117 in 2012, with Asia seeing the highest number of total losses.
Cargo at center stage as American integrates
Cargo volume up at Port of Virginia, growth expected from G6 changes Cargo volume at The Port of Virginia increased 6 percent in February when compared to the same month last year, the port said Thursday, adding that it anticipates an increase in volume soon as the G6 alliance makes changes.
White House praises U.S.-Korea FTA after second year
COSCO Pacific, Hutchison announce Hong Kong terminal deal
Crowley to supply LNG to Coca-Cola bottlers
CMA CGM string to call Buchanan
Forest product shippers could seek Vancouver alternative A shipping association chairman is warning that exporters of forest products in containers through the Port of Vancouver may move their cargo to other ports, switch to using breakbulk vessels or do both because of an ongoing strike.
Greek-owned cargo ship detained in Denmark Crew's complaints led to ship's detention, says Danish maritime Union.
System confirmed to reduce sulphur in marine fuel oil Sulphur down to level well below the 0.50% target, test shows.
Prices head down across Europe Falling crude values cool bunker prices.
Fujairah bunker prices mainly firm Price of 180 cSt material at Suez up $20.
Shipowners line up against CO2 monitoring extension Including small ships will create 'unnecessary administrative burdens', says ECSA.
Bunker avails expected to tighten as refineries cut back Fears of shortages see bunker demand climb.
Rolls-Royce eyes China's green shipping market Patent granted for wave-piercing bow technology.
Fuel stocks climb to three-week high Inventories swell to 19.5 million barrels.
Bunker company management system gets certification System aiming for 'greater transparency across the board'.
LNG bunkering brings new risks, insurer warns Lack of experience in handling the product creates potential hazards.
Singapore: Monthly bunker sales drop Fewer vessels calls contribute to weaker figures.
Asian IFO market holding steady Refiners in Busan said to be holding back on supply volumes.
Company commits to HFO-fuelled pushboats Using HFO has generated cost savings.
Spanish port earmarked for LNG bunkering EU shows support for development plans.
Singapore firm attains membership in marine fuel trader scheme Licence to purchase bonded bunkers will be valid to March 2017.
Thai bunker player eyes expansion 'After gaining a lot of liquidity from the stock market listing, we are ready to expand the business,' Chairman says.
New broom for EU transport fund Motorways of the Sea programme gets new co-ordinators.
South China fuel oil stocks up Large import cargo of 380 cSt product propelled stocks at Shandong to a seven-month high.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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