Crude oil shipping needs more peaks and troughs Flat markets threaten to leave owners in limbo
UK seeks closer collaboration in maritime security Ministers demand a 'joined-up' approach at National Maritime Information Centre launch
Diana reverses last year's loss to post a first-quarter net income gain US-listed company continues to seek a vessel acquisition
Hapag-Lloyd sees losses deepen Hamburg-headquartered shipping line reports $163m loss for the first quarter
Box Ships posts a first-quarter loss Drydockings and lower charter rates take a toll on Bodouroglou containership firm
MSC gets the green light to regroup Antwerp activities at Deurganck dock Port allows container line to join its P3 partners at the PSA-managed terminal
Dry cargo market will remain volatile, says Norden UPDATE: Danish operator cuts full-year forecast after worse than expected market dip
Nordic American Tankers posts 'best results in years' Huge reversal of fortune for suezmax owner due to strong winter market for crude tankers
W Marine contracts post-panamaxes at Sainty Marine Deal with Chinese yard includes up to four ships of shallow-draught design
GSL expands its board with two seats for major shareholder CMA CGM Industry veterans will steer listed shipowner towards new acquisitions
India's breakers bank on a positive election outcome Buyers pay over the odds for tonnage to get their hands on competitive units
American Shipping Co profit rises on robust Jones Act product tanker trade Oslo-listed owner ponders new tonnage and says OSG is on time with its charter payments
Port Hedland tug deckhands vote yes to industrial action Talks continue as workers at Australia's main iron ore export terminal ponder strike options
Aronnax: the importance of being future-proof Free to read: Asset decisions must be versatile as the markets remain uncertain
OSG posts $10m net income for first quarter Positive result breaks a run of quarterly losses
Libra Shipping taken off Iran sanctions list OFAC announcement gives no reason for change of heart
Social climbing Joining the digital conversation takes more than old-school direct marketing tactics
Data Hub: World Fleet Update Box lines struggle with surplus capacity as newbuilding deliveries continue at a brisk pace
SeaLand reveals growth target SeaLand, the intra-Americas spinoff of Maersk, revealed a surprisingly aggressive growth plan at the Caribbean Shipping Association conference in Miami. The revival of the SeaLand brand was announced earlier this year, with start-up set for 1 January 2015. SeaLand will take over the North-South
Ardmore reports quarterly loss Ardmore Shipping Corporation has ended another fiscal quarter in the red, but management is confident the company is on course for long-term profitability. Anthony Gurnee-led Ardmore, which floated on the NYSE last summer with a fleet of eco-design product and chemical tankers, reported a
Dredge industry balks at Army Corps investments American dredging contractors claim that increasing the US government's hopper dredge fleet could force commercial operators to shift their dredge assets overseas. The assertion was revealed by the US Government Accountability Office (GAO), a federal watchdog agency, in a report released 12 May on
Jacksonville breaks ground on container project Construction has started on a project at the Port of Jacksonville that is anticipated to speed container handling through the port. Port officials and federal lawmakers marked the start of the project, the Jaxport Intermodal Container Transfer Facility (ICTF), on 12 May with a ceremonial driving of
Another newbuilding joins Evergeen's Asia - US service Taiwanese carrier Evergreen Line announced today it is to have another L-type vessel joining its fleet. The box ship, named Ever Lissome, will after delivery on 15 May be deployed for Evergreen Line's Asia-US East Coast (via Suez Canal) route, replacing an older vessel. "Global economic outlook is
Sungdong secures Reuben Brothers option South Korean shipyard Sungdong Shipbuilding has secured the first of two kamsarmax bulker options available with UK-based Reuben Brothers. The 82,000dwt vessel will have an overall length of 229m, beam 32.26m and depth 20.2m. It is scheduled to be delivered in June 2016 and there is one option still
Genco delays first quarter results Genco Shipping & Trading is estimating a net loss of $42.2M for the first three months of 2014 on higher revenues, but has sought extra time from US securities regulators to file its quarterly financials. The Peter Georgiopoulos-chaired drybulk company, which filed for bankruptcy protection last
Brodosplit to sign construction ship deal Croatian shipbuilder Brodosplit has won an order to build a construction ship for state-owned company Plovput, the country's transport ministry announced yesterday. The newbuilding is to cost HRK54.3M ($9.9M) and is scheduled for delivery in November 2015. Its primary function will be for the
Tongfang Jiangxin secures seismic survey vessel Chinese shipyard Tongfang Jiangxin Shipbuilding has secured an order for a 3D seismic survey vessel from returning compatriot shipowner China Oilfield Services. The newbuilding will have an overall length of 66.8m, beam 15m, depth 5.5m, draught 4.1m and is to be named Hai Yang Shi You 751.
KME to supply control system for Gina Grog Kongsberg Maritime Engineering (KME) will provide an Integrated Control and Safety System (ICSS) and Power package to the Gina Krog FSO (floating storage and offloading) unit that will process oil and gas in the Norwegian North Sea. The $220M converted FSO will be sent to Statoil, operator of the
OSG returns to black Overseas Shipholding Group (OSG) has swung to a profit for the first quarter of 2014, thanks to higher revenues and lower costs stemming from its ongoing reorganisation. The iconic tanker company, which this week completes 18 months in Chapter 11 bankruptcy protection in New York, still revealed
DS Norden issues profit warning on dry bulk after weaker than forecast quarter DS Norden, the listed Copenhagen-based dry bulk shipping company, has reported a weaker than forecast operating result and issued a profit warning due to weakness in its core dry bulk sector. "Norden makes a downward adjustment of its full-year estimate. The previous expectations for Group EBITDA of
Box ship scrapping set for record year Box ship scrapping is set to reach a record high this year after capacity scrapped during the first four months increased by 27% to 212,000teu, according to a leading liner trades analyst. Paris-based Alphaliner said that the full year scrapping total was on track to reach 500,000teu even taking
MSC and PSA in 7M teu Antwerp joint venture Box shipping group MSC and terminal operator PSA are to set up a new jointly-owned terminal with an annual 7M teu handling capacity in the port of Antwerp's Deurganck Dock. Details of the project have been released by the port of Antwerp authority, which yesterday gave its approval to MSC's plans to
SNCM board sacks CEO The future of French Mediterranean ferry operator SNCM has been plunged into fresh uncertainty following the decision of the company board to sack chief executive Marc Dufour yesterday. The decision of the Marseille-based company's majority shareholder, Transdev, reached with the tacit support of
Course Change at Port of Virginia John Reinhart wears nice suits, but not on Saturdays. That's when the Virginia Port Authority's CEO dons casual garb and roams the port's container terminals. The on-site inspection is a weekly routine for Reinhart. As he gets a ground-level view of how the terminals are running, he talks with dockworkers and...
Shifting Tastes, Politics Challenge Fast-Food Chains In 1988, when the Berlin Wall was still standing and Russia was still a part of the Soviet Union, McDonald's opened its first restaurant in Moscow. The first of the chain's restaurants to open inside a communist country, it drew crowds and global attention. Today, McDonald's has 35,000 restaurants in...
NY-NJ Port Task Force Nears Finish Line An industry committee tackling congestion and other problems at the Port of New York and New Jersey is close to agreement on recommendations, but one potential solution - an appointment system for drayage drivers - faces stiff opposition from motor carriers. "Until the port itself is fixed - until there's a...
Hapag-Lloyd Pins Hopes to G6 Expansion, CSAV Takeover Hapag-Lloyd today pinned its financial future to the expansion of the G6 Alliance into the key east-west liner trades and its takeover of Chile's CSAV, as its first-quarter loss widened and revenue declined. Germany's largest ocean carrier blamed "persistently aggressive" competition that depressed freight rates and also the weakness of the...
Love Thy Neighbor Last year, I wrote a lengthy commentary for the JOC entitled "Port Wars: Past, Present and Future" in which I described the frenzy among U.S. ports as they prepare for the Panama Canal expansion. I reflected upon a similar frenzy in the 1980s as ports clamored to be load centers,...
Barcelona Gears Up for More Asia Cargo Port of BarcelonaWhen a Spanish archer shot a flaming arrow into a cauldron to light the torch at the Olympic stadium in Barcelona, the spectacular feat did more than open the 1992 Olympic Games; it also signaled the transformation of this Mediterranean seaport into a maritime gateway and logistics platform...
PMA, ILWU Negotiations Begin on Positive Note Contract negotiators between the International Longshore and Warehouse Union and the Pacific Maritime Association began yesterday on an upbeat note. "Both sides said they expect cargo to keep moving until an agreement is reached," the ILWU and the employers association that represents shipping lines and terminal operators said in a joint...
PIERS: US Containerized Imports See Continued Growth in April U.S. containerized imports rose 7.8 percent year-over-year in April. Full-size chart U.S. containerized import volume climbed 7.8 percent year-over-year in April 2014, the second consecutive month of increases and the third increase in 2014 thus far, according to advance figures from PIERS, the data division of JOC Group Inc. Containerized imports totaled 1.59...
Container Volume Rises at India's Major Ports Container throughput at major ports in India climbed 3.71 percent year-over-year in April, the first month of fiscal year 2014-15, reversing declining volume trends seen over the past year, according to the latest traffic data released by the Indian Ports Association. Consolidated monthly volume was estimated at 636,000 20-foot-equivalent units, up...
Steady Sea Freight Growth Helped Kintetsu World Express Increase Profit Major Japanese international freight forwarder Kintetsu World Express Inc. (KWE) said that its net profit rose 3.1 percent in fiscal 2013, which ended on March 31, from a year earlier to ¥9.41 billion ($92.3 million) on a consolidated basis. The Tokyo-based company, the 25th-ranked global 3PL, saw its group operating revenue...
Seaspan Ready for Changing Carrier Priorities Seaspan CEO and co-chairman Gerry WangFocus on operating efficiency and keep a tight control on costs and the rewards will come, was the advice Seaspan CEO and co-chairman Gerry Wang had for container line operators, who he said are too focused on freight rates and supply and demand. In an interview...
Railex Opens Jacksonville, Florida Services in June 2014 Railex's innovative cold chain transport and 3PL platform now offers 4-corner national reach for one-stop expedited temperature controlled transportation and warehousing nationwide. Railex, a leader in cold chain transportation and logistics, will expand its national footprint with the opening of its temperature-controlled multimodal and 3PL services in Jacksonville, Florida, starting June...
Spring Freight Surge Lifts LTL Carrier Outlook The nine publicly owned LTL carriers tracked by the JOC had combined revenue of $5.5 billion in the first quarter. Full-size chart April showered less-than-truckload carriers with freight, as shippers responded to a surge in consumer spending in March and increased industrial demand. The Cass Freight Index for April showed domestic freight volumes...
Svitzer sails south Svitzer has forged an alliance with the operator of Barbados' biggest port under a broader bid to expand its presence in the Caribbean.
Bottoms up! The darkest days of the downturn in the containership segment appear to be behind us, Michael Bodouroglou told investors Tuesday.
Jinhui handy on the block Jinhui Shipping & Transportation (Jinhui) of Hong Kong is preparing to part ways with one of its oldest bulkers, market sources told TradeWinds Tuesday.
Diana Containerships plunges Shares in Diana Containerships plummeted today after the New York-listed owner slashed its dividend despite a better-than-expected first-quarter profit.
Navios in new VL link Navios Maritime Acquisition has stepped back into the sale and purchase market for another VLCC, brokers say.
Boskalis rises Dutch shipping group Boskalis has recorded higher revenue in the first quarter of 2014.
UK holds five Port state inspectors in the UK detained five ships during April, including a Great Circle bulker.
DCIX back in black Nasdaq-listed Diana Containerships (DCIX) is lining up vessel acquisitions after making a slim profit in the first quarter.
Ardmore ahead in Q1 Ardmore Shipping exceeded first quarter expectations in a period which saw the delivery of eco ships bolster its operating performance.
Masters stood down Two New Zealand ferry captains have been suspended as a probe begins into two incidents involving their vessels in the Cook Strait.
Norden springs new buy-back Norden may be reluctant to buy additional ships at the moment but it continues to put its cash reserves to work.
Cruise tune Revellers celebrating the port of Hamburg's 825th anniversary were treated to one of the world's more unusual cover versions by a giant MSC cruiseship.
GLOP banks $186m New York-listed GasLog Partners (GLOP) has banked $186m in net proceeds as it closed its IPO.
Hapag under pressure German container line Hapag-Lloyd has racked up a big loss in the first quarter as rates stayed "far too low."
Genco guides for loss Genco Shipping & Trading has braced investors for a loss of over $40m in the first quarter of 2014.
AMSC stronger in first Lower interest expenses have boosted the bottom line at products tanker owner American Shipping Company (AMSC).
Cargoship tilts A Dubai general cargoship has developed a list during loading operations at Bulgaria's Black Sea port of Varna.
OSG's $180m swing Overseas Shipholding Group (OSG) reported a near $180m swing in income to return to the black in the first quarter.
Norden lowers its sights Norden has dialled down its full-year forecast after a frail first quarter.
Bijela falls to red Shiprepairer Adriatic Shipyard Bijela has fallen into the red in the first quarter.
NAO makes good start Nordic American Offshore (NAO), the fledgling PSV operator, has reported a first quarter net profit of $1.7m.
COSL adds one China Oilfield Services (COSL) has returned to Tongfang Jiangxin Shipbuilding for a 3D seismic survey newbuilding.
Split wins state order Croatian shipyard Brodosplit is to build a construction ship for state marine agency Plovput.
UACC boosts war chest United Arab Chemical Carriers (UACC) has secured a $300m credit facility agreement to help fund its expansion strategy.
PACD payout approved Pacific Drilling, the Idan Ofer-controlled company, is set payout its first dividend to investors in early 2015.
Thoresen makes it six Thoresen Shipping is tipped to have returned to the sale and purchase market for another Japanese-built vessel.
Strike action moves closer Strike action at Port Hedland has moved a step closer after tugboat workers voted to strike if necessary as part of a pay dispute.
Hapag-Lloyd hangs on Greek containership owner Box Ships has landed an extension for a panamax that's been on charter with Hapag-Lloyd since 2012.
Saade seizes seats Global Ship Lease's (GSL's) largest shareholder has emerged victorious in a crusade to seize control of its board of directors.
The bill, which will be amended and voted on by the Senate Environmental and Public Works Committee Thursday, maintains status-quo baseline funding for federal aid highway and transit programs plus inflation, about $50 billion annually.
FMCSA issues rule to stop coercion The Federal Motor Carrier Safety Administration wants to fine transportation officials $11,000 each time they coerce drivers to disobey hours of service requirements, commercial-drivers license policies and other regulations.
STB issues environmental report on Utah rail project
Hapag-Lloyd reports first-quarter loss Hapag-Lloyd reported a loss in the first quarter of 119.1 million euros ($163.4 million) compared with a loss of 93.6 million euros in the first quarter of 2013, and noted the result reflects the takeover of CSAV's container business.
Corps permits Houston port's channel improvements
MSC to consolidate at Antwerp's Deurganck dock Liner carrier Mediterranean Shipping Co. will consolidate its activities at the Port of Antwerp's Deurganck dock on the left bank of the Scheldt river. The Antwerp Port Authority said the transfer is needed to allow further expansion by MSC.
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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