Very Large Crisis Coming Tanker owners are heading for trouble unless they stop ordering the biggest crude carriers
Helsinki shipyard benefits from renewed interest in icebreakers Finnish and Russian orders for icebreakers offer promise for once struggling yard
Capesize rates drop as supply builds in the Pacific Underlying demand will support a rebound in several weeks, brokers say
GasLog eyes net proceeds of $95m from offering LNG carrier owner's fundraiser prices at $23.75 per share
Globus Maritime returns to an annual profit Dry bulk owner says 2014 may be a key year for recovery
Australia's refinery pain is product tankers' gain Shrinking refining industry down under boosts demand for seaborne imports
Helsinki shipyard benefits from renewed interest in icebreakers Finnish and Russian orders for icebreakers offer promise for once struggling yard
Nigeria frees British security guards detained in bunker-theft row Port2Port says employees held for 19 days must return to Africa next month for a hearing
Polar Code will be delayed until 2017 at the earliest, says Norwegian official Talks stall at Marine Environment Protection Committee meeting at IMO in London
Searching for the key to success Which lines were the winners and losers in 2013, who outperformed and by how much, and what will happen in 2014?
Russia's growth divergence Container volume growth slowed last year, but still outpaces the global average
Asian banks' cheap credit promotes overcapacity, says von Oesterreich Shipping finance giant HSH Nordbank will meet Brussels officials to discuss its future
Data Hub: Trade Statistics Positive trade performance not accompanied by positive utilisation performance
All together now Free to read: Commission calls for merger of Los Angeles and Long Beach ports
Shortsea shipping's wake-up call Why squeezed profit margins add up to danger at sea
GasLog agrees to buy another three BG LNG carriers Additional trio also chartered back to BG for six years
Klein calls for new relationship between boxship owners and operators Head of ER Schiffahrt says old-style tonnage providers must become service partners
Week on Wall Street | April 11 BLOG Free to read: Investor pricing quibbles quash fundraisers
Port security must stay on top of a changing world Recent developments highlight the need for ISPS to evolve, seminar hears
Tallink Q1 passenger totals fall 1% Estonia's largest privately owned company and the biggest ferry company in the Baltic, Tallink Grupp, recorded lower passenger totals in the first three months of 2014 compared with the previous year
Mombasa vows to clear port of container freight stations Kenya Ports Authority (KPA) is to relocate all container freight stations (CFSs) at Mombasa in an effort to decongest the port and make space for transhipment cargo
Seaman Guard Ohio men ask court to drop charges Seafarers and counter-piracy guards from Advanfort's patrol vessel Seaman Guard Ohio yesterday petitioned the Madras High Court to have all charges against them dropped
Ghana students to get improved engine training Maritime students at the Regional Maritime University (RMU) in Ghana will enhance their operational experience and skills with Kongsberg Maritime's K-Sim Engine simulator from next month
Port2Port guards released on bail after 19 days Maritime security guards Vincent Haywood and Piers Eastwood have been released on bail by the High Court of Bayelsa State, Nigeria
Broker Group Asks Congress for CSA Guidelines TUCSON, Ariz. - Legislation that would create a national "standard of care" for how freight brokers use federal safety data when hiring motor carriers will be introduced in Congress in about two weeks, the head of the Transportation Intermediaries Association said. A national standard of care is needed to provide clarity...
Deadlock Continues on Baltimore ILA Pact A standoff continues between Baltimore port employers and the International Longshoremen's Association over a local contract covering non-containerized breakbulk and automobile shipments. ILA Local 333 struck for three days last October but resumed work after Arbitrator M. David Vaughn ruled the union had violated the no-strike clause in the ILA's coastwide...
ILO Backs Protection for Abandoned Seafarers The International Labor Organization voted to support amending an international labor convention by requiring shipowners to provide financial security to compensate seafarers abandoned at ports away from their native countries. Representatives of seafarers, shipowners and governments approved the amendments to the 2006 Maritime Labor Convention without opposition at a Geneva meeting...
SCFI: Asia-Europe Rates Fall Post-GRI Spot container freight rates measured by the Shanghai Containerized Freight Index were mixed this week, as the Asia-Europe lane observed declines while the Asia-U.S. route saw gains. The SCFI for North Europe dropped 6.9 percent in the week ending April 11. Full-size image Asia-Europe rates fell by about $85 per TEU for the...
Ocean Carrier Rate Revision Roundup for April 11 Multiple carriers have planned rate increases in various trade lanes in April and May, although any gains achieved could be fleeting as overcapacity and lackluster global demand continues. While general rate increases achieving 75 percent of the intended increase are regarded as acceptable by the carriers, industry observers say even that...
Railroads Promise End to Intermodal Delays TUCSON, Ariz. - Intermodal service delays at Union Pacific Railway and CSX Transportation will end in roughly two to four weeks following a harsh winter that wrecked havoc on the railroads' networks, rail representatives said at a conference on April 10. UP increased its intermodal business in the first quarter even...
NTSB Team Investigating Deadly FedEx Crash National Transportation Safety Board investigators are working to determine why a truck driver crossed a highway median and slammed into a charter bus, killing 10 people yesterday. A "multi-disciplinary" team led by Highway Safety Investigator Robert Accetta left for the accident scene in Orland, Calif., early today, according to the federal...
Etihad Close to Deal for Alitalia Stake Etihad Airways is on the verge of buying a 49 percent stake in Italy's financially troubled national airline Alitalia in a move that would increase the Abu Dhabi-based carrier's access to Europe's second largest air freight market. Talks between the two airlines were close to breakdown earlier this week over Etihad's...
Bipartisan Senate Group Seeks Six-Year US Highway Bill The Senate Environment and Public Works Committee will pursue a six-year transportation bill that will to tap tax reform to pay for highways and restore the Highway Trust Fund to solvency, senior committee members said April 10. "We have worked to act across party lines before the highway trust fund cannot...
ICTSI to Upgrade Iraq's Port of Umm Qasr International Container Terminal Services, through its wholly-owned subsidiary ICTSI (M.E.) JLT, has signed an agreement with General Company for Ports of Iraq to operate, develop and expand container facilities at the Port of Umm Qasr. "The contract grants ICTSI the rights to manage and operate the existing container facility at Berth...
Osaka Container Trade Hits Record High The number of foreign trade containers handled by the Port of Osaka in western Japan rose 3.5 percent in 2013 from a year earlier to a record high of 2.194 million 20-foot-equivalent units (TEUs), according to preliminary figures released by the Osaka municipal government. The 2013 number was 21,000 higher than...
Seawolf sets sights A campaign to expand Heidmar's VLCC pool, Seawolf Tankers, appears to be gaining momentum.
VLCCs dive into pool Two of the fifteen vessels that Euronav acquired from Maersk Tankers have formally enrolled in the Tankers International (TI) VLCC pool.
Street applauds GLOG GasLog watched its stock gain traction in early trading Friday after pricing shares linked to its latest follow-on equity offering.
Cape hope amid spot gloom A crash in the capesize spot market this week has left period rates at more than double spot levels.
Fire hits Grimaldi ferry The crew of a Grimaldi ro-ro/containership were rescued after their vessel caught fire yesterday off the coast of West Africa.
Cape prices defy crash Crashing capesize spot rates have failed to dent buyers' enthusiasm in the second hand market in which values continue to rise.
Frontline 2012 to shine John Fredriksen's Frontline 2012 has been tipped for a sharp rise in first quarter profitability thanks to a strong crude tanker spot market.
CSC Nanjing delisted CSC Nanjing Tanker has become the first Chinese state controlled company to be delisted after racking up four straight years of losses.
Uni-Asia boss to retire Uni-Asia Holdings is under new management after its long-serving chief executive officer and co-founder called time on his career.
Subsea ambitions We take a look at what was said in the market over the past week.
Swissco to double up Swissco Holdings' venture into the rig owning arena should see the company double earnings straight away, analysts say.
Window ajar, not closed Shipowners hoping to raise cash for the first time in the capital markets will find the IPO window is still open - but it will be more difficult to climb through than it has been of late.
Keppel can take stake Keppel Offshore & Marine has the option to buy a 10% stake in Titan Petrochemical as part of a new shipyard management agreement between the pair.
Goldman ups Dynagas stake Goldman Sachs Asset Management has increased its strong position in George Procopiou's Dynagas Partners by taking a batch of securities worth over $5m.
Crude looks sweet in Q1 Recovery in the crude tanker market will see widespread first quarter profitability for the first time in four years, Evercore Partners says.
Star wins bank finance KfW IPEX-Bank has teamed up with Credit Agricole and DNB to fund Star Cruises' latest cruiseship newbuilding in Germany.
Oz coal ports spared Australia's main coal exporting facilities in Queensland are expected to avoid the worst of tropical cyclone Ita.
Huxley rules out VL orders Hong Kong shipowner Wah Kwong has no plans to join the VLCC newbuilding craze following the sale of its oldest tanker this week.
Ezra suffers in Q2 Ezra Holdings has reported a 33% decline in its 2014 second quarter profit despite revenues increasing year-on-year by 22%.
ICTSI in Iraq deal International Container Terminal Services Inc (ICTSI) has tied up with the Iraqi Port Authority to help expand Umm Qasr.
Nissos Amorgos spill battle Read the latest news about the landmark legal dispute and catch up on the backstory of one of the most controversial tanker pollution incidents.
Globus remains upbeat Investors appear to be growing increasingly concerned about the near-term future of the dry-bulk market but the chief executive of Greek bulker owner Globus Maritime is confident that freight rates will rise in the months ahead.
Railroads, shippers spar at STB hearing During the Surface Transportation Board's April 10 hearing on service issues, railroad officials took issue with the proposed competitive switching plan, saying it would equate to a "perpetual winter" for railroads.
Shippers take issue with CP toxin rule The American Chemistry Council and two other groups have called for an injunction to stop Canadian Pacific Railway's "arbitrary, unilateral and illegal" rule that nearly bans the shipment of chlorine and other toxic chemicals starting Monday.
Rail agency to propose crew-size standards The Federal Railroad Administration said it will soon propose a rule setting minimum crew sizes for rail operations and requiring two-person crews on trains transporting crude oil.
Marine Hull insurance losses at record low in 2013 The International Union of Marine Insurance said the percentage of hull "total losses" fell to a record low last year, following a marginal increase in 2012, and said this continues a 15-year trend of reduced total losses.
CMA CGM offers weekly shuttle between Jamaica, Haiti
Dachser gets big revenue boost in 2013
Houston to fund deeper container terminals
HSH Nordbank: No shipping recovery before 2015
WiseTech Global adds functionality to handle Japan's filing rules
Bunker prices down in Houston Good demand and avails reported at the US Gulf port.
Brazilian police raid Petrobras's headquarters As part of a money-laundering probe.
Weekly Global Market Report A weekly price roundup from bunkering hubs around the world.
Middle East markets stable Suppliers quoting for IFO in Durban.
Bunker markets soft as holiday season approaches Tight avails in Rotterdam.
'No 2014 recovery' for shipping sector Major lender points to 'persistently tense situation in the shipping sector'.
WFS: Change at the top Stebbins makes way for Kasbar at board level.
New power source applicable to shipping US company claims breakthrough with production of non-polluting energy.
Dealing with the unintended consequences of progress New efficient engine designs at higher risk of corrosion from sulphuric acid.
Six vessels held after failing UK Port State Control Inspections None of March detentions was for bunker fuel violations.
Hybrid fuel to undergo months of sea trials 'Diesel and glycerol mix will be targeted at mid-sized commercial vessels'.
Spill disrupts shipping at Richards Bay Environmentalists question size of spill.
Week ends with Asian bunker prices down Supplies at Tokyo Bay were limited.
Two ships arrested in Singapore Vessels were detained mid-week.
Boxship makes bunkering debut at Russian port Russian player plans to add more anchor points for bunkering at Zarubino.
Offshore company buys multipurpose bunker vessel Vessel to feature new design concept.
LNG bunkers 'makes sense' in suitable regions, says Bourbon Shipowners need to be 'very selective' when choosing newbuilding engine options, Jacques de Chateauvieux tells Bunkerworld.
Danish firm bags award for fuel-saving ship design New design brings 45% bunker savings, according to naval architect.
Mass flow meters trialled extensively Minister details run up to MPA announcement on MFM.
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