Virtually challenged -Liverpool pilots prepare for increasing pressures Mersey tugs contend with new terminal, ACL newbuildings and dancing cruiseships
Swedish Club hails successful year Free reserves at record high
Ioannis Martinos launches solo shipmanagement company Foundation of Signal Maritime does not mean splitting the Thenamaris fleet, says owner
Higher world steel production to encourage more tanker scrapping Greater steel production will support high scrap prices, argues McQuilling
Oil market causes fresh headaches for tanker owners Situation in Iraq remains a key supply concern
Iraq's woes cast a long shadow over the international outlook for oil To lose Basrah's 2.6m bpd seaborne exports would have serious global consequences
A less-than-winning week for capesizes It's not just late football costing brokers sleep as market reverses into a steady decline
Rates up on Asia-South America route but capacity reduced But freight rates remain below the level recorded a year ago and mid-June 2012
Japan to ratify ballast water convention Other IMO member states considering ratification could push convention into force next year
The burden of responsibility As Posidonia drew star billing, Sandefjord in Norway hosted a meeting of masters
Reederei NSB threatens to leave German flag Boxship operator issues an ultimatum as it negotiates crew contracts and register conditions
Week on Wall Street | June 13 Taking a ringside seat as Genco Shipping has its day in bankruptcy court
Passengers hurt in third incident on Hong Kong-Macau ferry route Shun Tak vessel hit the sea wall as it sailed into port, injuring 57
Western Bulk sells $31.8m claim against Pan Ocean Third-party deal brings a net gain of $12m for second-quarter 2014
Indonesia plans safe anchorages as UN study flags rising Asian piracy risk Protected zones aim to tackle a growing number of incidents in national waters
US farmers urge ILWU and PMA to address threats to west coast ports Agriculture Transportation Coalition says Asia manufacturing shift will reshape trades
DP World looks to raise $1bn for growth and acquisitions Proceeds will provide flexibility at a low interest rate, says bin Sulayem
Cybersecurity risks in the maritime sector Shipping lines need to take more notice of the threat of cyber criminals
New cargoes for tankers and gas carriers as ExxonMobil starts Angola project ExxonMobil expects production of 160,000 barrels per day from export start-up
Global Gateways: North America Containerisation International looks at the challenges facing North American ports
Data Hub: World Fleet Update - June Boost in capacity as more larger vessels are delivered
Floatel to feature Wärtsilä BWMS Swedish offshore floatel owner and operator Floatel International will equip its Floatel Triumph semi-submersible accommodation and construction vessel with two Wärtsilä AQUARIUS UV ballast water management systems (BWMS). Floatel Triumph will also feature Wärtsilä engine room pumps and a
Dynagas raises growth cash NASDAQ-listed Dynagas LNG Partners has priced an offering to help fund buying the Arctic Aurora LPG carrier. The transaction will be the firm's first public offering since its IPO in November 2013. On 12 June, the George Prokopiou-led partnership announced that it will offer 4.8M common units at
Scorpio Tankers issues profit warning Emanuele Lauro-led Scorpio Tankers has damped expectations for its second quarter by pre-releasing estimates of projected losses. On 12 June, the NYSE-listed product tanker company predicted adjusted losses of $0.06-$0.10/share for 2Q14. Prior to this profit warning, analysts had forecast a loss of
Shanhaiguan bags CS Tanker trio Chinese state-owned shipyard Shanhaiguan Shipbuilding has won an order for up to three Panamax crude oil tankers from China Shipping Tanker Co (CS Tanker). The Shanghai-based owner, a subsidiary of China Shipping Group, has ordered two firm 65,000dwt vessels for delivery towards the end of 2016 with
UK shipping fails to sell itself Liverpool MEP Jacqueline Foster has described as 'outrageous' the fact that a UK maritime management degree course with a hundred places available had attracted only one student. Speaking at a maritime logistics event in Liverpool on the global skills shortage, she said the shipping industry had
Uki-linked firm at Rauma as STX exits Rauma Marine Constructions (RMC), a new company linked with Uki Workboat, is to start shipbuilding and repair operations at Rauma in Finland when STX's tenancy at the yard concludes at the end of June. Although Rauma had plans for creating a marine industrial park, the shipyard had been expected to
SPP secures 12 Parakou MR tankers South Korean yard SPP Shipbuilding has won an order that could total $432M from Hong Kong-based Parakou Shipping for up to 12 medium-range (MR) products tankers. As well as four firm 50,300dwt vessels, with delivery scheduled for 2016, Parakou's order has four plus four options attached. The 12
Macau passenger ship collision injures 70 A high-speed passenger ship crashed into a breakwater in Macau today, leaving about 70 injured, one of them seriously. The 1981-built Cacilhas, carrying 220 passengers and 13 crew, collided with the southern breakwater of the Outer Channel off Macau at about 09.30, according to a statement from
China's COSL signs new rig contract with Agility China Oilfield Services (COSL) on Tuesday clinched an agreement with Agility Group (AG) on the drilling package for COSL's drilling semisubmersible unit Hai Yang Shi You 982 (HYSY982). The $7.9M deal includes detailed design work on integrating the drilling package from National Oilwell Varco (NOV)
Customs at Port Botany uncovers drugs Two Taiwanese nationals have been charged with attempting to import drugs through Port Botany container terminal in Sydney, a joint Australian Customs and Federal Police taskforce announced yesterday. Australian Customs and Border Protection Service (ACBPS) uncovered 12kg of methamphetamine
China iron ore imports face price pressure China's iron ore imports may come under near-term pressure in 3Q14, with iron ore prices and Capesize rates sliding as iron ore financing comes under scrutiny, said UOB Kay Hian. Since early April, the China Banking Regulatory Commission (CBRC) has urged local authorities and banks to step up an
KSS Line fixes VLGC to Petredec South Korean LPG and chemical shipping company KSS Line has chartered a very large gas carrier (VLGC) to Singapore-based LPG trader Petredec. KSS Line, led by CEO Lee Dae Sung, said it has chartered the VLGC for three years from 1 March 2015. In a Korea Exchange filing, KSS Line said the charter
Maersk Line upbeat on Vietnam trade Maersk Line expects Vietnam's manufacturing sector to overcome the challenge of rising regional competition. The country still enjoys macroeconomic stability, with inflation on target, a steady exchange rate, and a strong export sector in surplus, according to Maersk Line Vietnam's first trade
NYK invests in Mexican car logistics NYK, Japan's second biggest shipowner, has acquired 30% of Mexican finished-car logistics company CSI (Consorcio de Servicios Internacionales SA de CV). A signing ceremony at the NYK head office in Tokyo was attended by Leon Antonio Flores Elizondo, CEO of the CSI Group, and NYK president Yasumi
Thailand's car exports set to grow Thailand's car exports are poised to grow by 6-11% this year, according to Kasikorn Research. Between 1.16M and 1.22M cars are due to ship this year, despite months of political turmoil culminating in May's military coup. In 2013, Thailand's car exports totalled 1.09M vehicles. "We believe that the
Steady progress for Yangzijiang yard Singapore-listed Yangzijiang Shipbuilding Holdings is progressing on a steady course, according to Yeo Kee Yan, an analyst from DBS Vickers Research. Yangzijiang's share price is expected to rise to a target price of SGD1.55 or $1.24, up from its current SGD1.06 per share. This forecast reflects
ITF calls for fair trial of Sewol crew The International Transport Workers' Federation (ITF) has issued a call for due legal process to be followed in the trial of the Sewol ferry's 15 crew. Crew members are being tried for involuntary manslaughter over their role in the 16 April disaster, in which an estimated 304 of 476 passengers and
Maersk Line: Indonesia needs better ports Indonesia's undeveloped port infrastructure could drag on the country's economic growth, according to a Maersk Line report on Indonesia trade. Maersk Line's president director for Indonesia, Jakob Friis Sorensen, said the nation could be held back by ports that are unsuited for container shipping.
NAO debuts on NYSE Nordic American Offshore (NAO) has begun trading on the New York Stock Exchange after pricing its IPO at the bottom of the target range. The platform supply vessel (PSV) owner priced 5,882,352 shares on 11 June at $16/share versus its stated target range of $16-$18/share. Underwriters have the
Heung-A Shipping orders new chemical tankers South Korea's Heung-A Shipping has announced on 12 June that it will order two 3,500dwt chemical tankers worth KRW28.462Bn ($28M). Heung-A Shipping will operate the tankers through a Bareboat Charter Hire Purchase (BBC-HP), a common method of ship financing in South Korea. The charter period is 12
Moody's changes CMHI's outlook back to stable Moody's Investors Service has revised the outlook on China Merchants Holdings International's Baa2 issuer rating and senior unsecured bond ratings from negative to stable. At the same time, Moody's has affirmed the Baa2 issuer rating and the Baa2 senior unsecured bond ratings, the company said in a
Capesize rally softens The rally that was seen in Capesize rates this week began softening yesterday as fewer cargoes emerged. This week, rates on the Western Australia-China route pushed up to over $8.30/tonne on Tuesday but fell to $7.91/tonne as of yesterday, according to the Baltic Exchange's assessments. The
Concor gearing up to clear import backlog at Nhava Sheva Port Container Corp. of India said it is taking steps to add more intermodal services to help clear a buildup of containers that threatens to affect operations at marine terminals in the Jawaharlal Nehru Port (Nhava Sheva), the country's largest container gateway. "We are trying to resolve the said issues in coordination...
Port of Long Beach's new discounts aim to recoup market share The Long Beach Board of Harbor Commissioners has given preliminary approval to two incentives that aim to bring additional cargo to the port, following a slip in its container traffic and market share. The incentives, which also encourage the use of air pollution-reducing power and on-dock rail, are designed to help...
Air cargo market posts solid performance, but faces slowdown in coming months The air cargo market posted solid year-on-year growth in the first quarter driven by a cyclical upturn in the global economy, but high jet fuel prices and weak yields has depressed carriers' earnings as they face a slowdown in the coming months, the International Air Transport Association said. With new aircraft...
Big Data's benefits touted for logistics sector Like other fashionable buzzwords in the past, the catchphrase "Big Data" has grabbed many headlines in recent months, even as it has left many potential users bewildered about its scope and potential benefits. Although many supply chain companies seem to believe Big Data is too big for anyone but the Fortune...
Charleston adds cold-storage capacity Three companies this month have announced investments in temperature-controlled facilities near the Port of Charleston. Lineage Logistics will break ground next month on a 340,000-square-foot cold storage distribution center in North Charleston. The operation will provide blast-freezing for poultry and other protein exports, along with facilities for imports. The North Charleston project...
DCLI offers chassis road service Direct ChassisLink Inc. plans on July 1 to launch a program to provide emergency road service to truckers using DCLI chassis that aren't in cooperative pools. The start of the new program coincides with announced per-diem rate increases for chassis leased by DCLI and competitors TRAC Intermodal and Flexi-Van. TRAC Intermodal also...
SCFI: Rates up to Europe while Asia-US rates continue slide Spot rates from Asia to Europe were up for the second straight week in the week of June 13, 2014. Full-size chart Spot rates from Asia to Europe were up for the second straight week, but carriers are still looking forward to a July general rate increase. Spot rates to northern Europe rose...
Hamburg hails $1 billion Kiel Canal funding, awaits Elbe river court ruling The port of Hamburg hailed the German government's approval of a €750 million ($1 billion) investment to upgrade the Kiel Canal, which links the North Sea to the Baltic Sea, as a major competitive boost for the country's largest container port. The Berlin government has allocated €265 million to widen the...
Ocean carrier rate revision roundup for June 13 Multiple container lines have planned general rate increases in various trade routes to take effect in July, although any gains achieved could be temporary as overcapacity and sluggish global demand continue. Despite recent improvements, global container lines' schedule reliability and on-time container delivery have been worse every month so far this...
US intermodal service shows signs of slipping again U.S. intermodal service appears to have slipped again last week, suggesting that the major railroads' rebound after a brutal winter wracked their networks and shippers' supply chains will be one of fits and starts. Average intermodal trains speeds, a barometer of overall service reliability, fell 1.1 percent in the first week...
EU security rules keeps industry guessing as July 1 deadline looms Tough screening regulations applying to air cargo being flown into the European Union will be enforced from July 1, but with just two weeks to go the industry has little idea which carriers, airports and forwarders have met the security requirements. "The challenge that we have is from the EU. We...
Media accused of vilifying trucking industry after fatal accident CHICAGO - The president and chief operating officer of Werner Enterprises, the 11th largest U.S. trucking company, today urged logistics executives to push back against what he called the mainstream media's vilification of the trucking industry following the high-profile deadly accident last weekend. Derek Leathers said the mainstream media has "butchered...
Nhava Sheva Port agents look to intermodal to clear backlog Ship agents in India's Port of Jawaharlal Nehru (Nhava Sheva) have called on state-owned rail operator Container Corp. of India to urgently provide more intermodal trains to tackle rising inventory levels at the country's largest container gateway. The move comes after the backlog of import units, destined for various inland container...
Panamax prices plunge Asset prices in certain segments of the dry-bulk market appear to be sliding, a leading Greek sale-and-purchase broker told clients Friday.
US preps Syria chemicals delivery A Norwegian cargoship is preparing to deliver a cargo of chemical weapons precursors handed over by Syria's military to Port Arthur, Texas, according to US government documents.
VLGC rates on the rise Rates for very large gas carriers (VLGCs) are on the rise and many believe the segment will continue to gain momentum in the weeks to come.
PDVSA pens tug series A Dutch shipbuilder has lined up a contract to construct ten tugs for Petroleos de Venezuela SA (PDVSA).
Lighter vessel sinks A lighter vessel has sunk in Bangladesh after hitting a wreck.
Capital cashes aframax Greek owner Capital Ship Management appears to have done well on an investment in a vintage aframax tanker.
Trafigura sells trio Commodities group Trafigura has reportedly sold off three modern medium range (MR) products tankers at a profit to Empire Navigation of Greece.
Cosco in $175m order Chinese owner adds to growing bulker newbuilding tally with contracts for six more ships.
Latvian likes LPG Vitol-backed tanker owner Latvian Shipping would be interested in a return to the LPG vessel sector, but it is not in a position to order new ships now.
Glencore deal for Diana Diana Shipping has penned a new contract for one of its panamax bulkers with Glencore.
Jumbo drops one Dutch owner Jumbo Shipping has cancelled an order for a heavy-lift vessel at Brodosplit in Croatia.
SeaEnergy builds fleet UK-listed SeaEnergy is teaming up with a Singapore company on offshore vessel shipmanagement.
Seven slip away Goldenport Holdings has pulled the plug on a plan to purchase seven bulkers from its founding Dragis family.
DNB in double downgrade DNB Markets has downgraded both the products tanker market and its largest owner Scorpio Tankers after taking a below consensus view in the market from next year.
GSI eyes yard buys Chinese shipbuilder Guangzhou Shipyard International (GSI) is now considering taking over other yards as part of its restructuring.
SCI eyes LNG growth Indian owner in talks to expand managed gas carrier fleet to 20 ships.
Cargoship spills fuel The crew of a Vietnamese cargoship have been rescued after the vessel started sinking following a grounding off the Maldives.
Bugbee back for more Scorpio Bulkers president Robert Bugbee has topped up his stake in the New York-listed owner for the second time in a month.
BG takes back tanker KNOT Offshore Partners has persuaded BG Group to re-employ a shuttle tanker it is handing back in July.
Arcadia cools VL claims Arcadia Shipmanagement of Greece has distanced itself from claims a debut VLCC deal is being lined up.
NSB to quit German flag? Germany's NSB Reederei could shift its containerships from the domestic register as it seeks to find a way to reduce crewing costs.
OSG's $3.2bn bill US tanker owner OSG has revealed how it will spend $3.19bn of cash to exit bankruptcy.
STNG warns of loss Scorpio Tankers has braced investors for a softer than expected second quarter performance.
Heung-A adding duo South Korea's Heung-A Shipping is lining up a $28m investment on two more chemical carriers.
Four for Fukuoka Japan's Fukuoka Shipbuilding has clinched orders for a quartet of chemical tankers.
On the hook We take a look at what was said in the market over the past week.
Supra8 nears 50 ships Pool operator Navig8 is close to operating 50 ships in its Supra8 supramax pool following the addition of three more bulkers.
DP World prices bond DP World is set to raise $1bn from a senior unsecured convertible ten-year bond, the company has confirmed.
Epic buys LPG duo Epic Gas confirmed Friday that it had purchased two modern 9,500-cbm LPG carriers for an undisclosed price.
Indo piracy crackdown Indonesia is about to take the fight to piracy gangs operating in the region with a string of measures designed to combat the problem.
DLNG prices Dynagas LNG Partners of Greece is poised to pocket nearly $110m from its latest Wall Street fundraiser.
Vilsack trip aims to boost U.S. ag exports to Europe The U.S. agriculture secretary will discuss the expansion of agricultural trade between the two continents, the importance of agriculture's role in the T-TIP, and benefits the trade agreement will have for both the U.S and Europe.
Former U.S. Customs head Ambrose dies Myles J. Ambrose, who served as a head of the U.S. Customs in the early 1970s and later specialized as a private practice customs and international trade attorney in Washington, died on June 3. He was 87.
Vancouver port starts project to ease truck congestion The Canadian government is giving Port Metro Vancouver CAN $3 million ($2.76 million) to implement a common data interface project at its four terminals to reduce trucker wait time.
Higgerson heads CBP's Laredo, Texas office
Massport breaks ground new terminal
Ag shippers to ILWU, employers: 'We are all in the same boat' The Agriculture Transportation Coalition has urged the ILWU and employers to "take action to keep U.S. West Coast ports (and the cargo that is dependent upon them) viable."
MarAd seeks applications for marine highway projects
NYK acquires stake in Mexican car logistics company The Japanese shipping company bought a 30 percent stake in the Mexican logistics company CSI Group to expand its participation in Mexico's burgeoning finished automobile trade in North America.
Belgian researchers developing new container tracking technology
Bunker prices largely up in Houston Tight avails reported by local players.
Weekly Global Market Report A weekly price roundup from bunkering hubs around the world.
Drive for fuel efficiency pushing younger ships to retirement Impending BWM convention could also impact demolition decision, says shipbroker.
Mass flow meters 'to increase fuel delivery capacity by 50%' CYE Petrol plans to add four more systems to its vessels.
Shipyard delivers hybrid tug Vessel can achieve 'average fuel savings of up to 30% and up to 40% reduction of emissions'.
Asian maritime agencies urged to step up anti-piracy efforts Fuel cargo was stolen in four of five recent piracy attacks.
Prices make strong gains across Europe Some gains in double digits, reports say.
Prices climb in Fujairah Suez sees little change.
Dispute over bunker consumption figures goes to police Norwegian shipowner at loggerheads with engine maker on issue, say press reports.
Bunker sales slide in Japan April volumes down month-on-month and year-on-year.
Emissions monitoring product launched with GPS link Product maps vessel's emissions' output against MARPOL regulations.
UK MGO supplier warning on demand surge Says refinery response to more demand for 0.10% sulphur marine fuel is likely to be limited.
Players stripped of bunker permits can appeal Malaysia says private jetty owners must justify why they should have bunker licences.
Sulphur breaches 'mostly the fault of the ship' Netherlands ready to implement EU Sulphur Directive, but will continue to show flexibility when interpreting sulphur transgressions.
Shipowner: ECAs will speed up LNG bunker fuel's progress Norwegian company also involved in Canadian LNG project.
Singapore bunker sales fall month-on-month May sales, however, are almost 3% up on the same month last year.
Week ends with bunker price surge across Asia MGO rates see double-digit growth across key hubs.
P&I club issues legal brief on European ECA Due to the implementation of directive 2012/33/EU by EU member states.
Bunker bill liability case goes to appeal Korean bunker supplier challenges lower court judgement.
UK refinery to go on sale Facility to be sold for $500-600 million.
Singapore: Bunkering, ship chandlers trade mixed in Q1 Domestic trade shrinks, while foreign trade strengthens.
Class upgrades rules on composite materials Opens way to lighter vessels.
New Bunker Holding subsidiary to start business in Singapore Firm will be starting operations from July onwards, according to local sources.
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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