TSA reveals rate hike amount Transpacific carriers will implement an increase of $600 per feu from August
One year on, Singapore LNG starts to shine Greater volumes head to gas-hungry Southeast Asian city-state this July
US exports continue downward spiral Containerised exports fell 0.7% to 1.1m teu in May, Piers data shows
'Blue collar Tory' is new shipping minister Industry upgraded to full ministerial level
Shale oil revolution to go global Block on US exports of tight oil will not stop other nations gaining access to its know-how
Long Beach gives thumbs up to $579m infrastructure funding Two-thirds of $858m fiscal budget earmarked for capital projects
Lloyd's List Global Awards 2014 shortlist revealed Find out who made the final cut
Maersk's cultural journey Former employee and SeaIntel founder Lars Jensen charts the transformation of the world's number one box line over the past decade into a "normal" company
HNA arm to become world's largest container lessor Bohai Leasing signs memorandum of understanding to acquire Cronos after deal for Seaco
Nordic American Tankers shows its suezmax strength Tanker owner closes in on number two spot in suezmax fleet sizes
VLCC earnings back under pressure after bright spell Volatile market should provide earnings spike in fourth quarter
Nanjing Tanker set to enter court-led restructuring Fate of distressed state carrier takes new twist after a creditor initiates bankruptcy procedure
Fortescue Metals Group in 'advanced' talks to buy four more VLOCs Plans follow announcement of four-strong order in June at Yangzijiang
Larger fleet helps push Nakilat profits up 24% in first half Qatar gas carrier says strong LPG rates and busy shipyards aided profit rise
Haiphong adds six more RTGs Port of Haiphong in northern Vietnam has bought six additional rubber-tyred gantry cranes from Terex Port Solutions (TPS). These are an addition to the 12 it already has on order from the company under a September 2013 contract. The 12 will begin operating at the end of 2014, while the follow up six
Hopes rise for Hamburg access dredging Hamburg city economy minister Frank Horch is confident the Port of Hamburg will overcome a lawsuit and have its River Elbe access channel dredged in September. The legal case, brought by from environmental groups NABU and BUND, got under way yesterday at Germany's highest administrative court in
Container ship gets first LNG MAN engine The first dual-fuelled main engine to be delivered has arrived at NASSCO shipyard in San Diego, California. The engine, a dual-fuelled MAN Diesel and Turbo 8L70ME-GI, was built under license by Doosan. It will be used by the General Dynamics yard on the first of two container ships being built for
Chinese rig to leave disputed waters A Chinese drilling rig is to be moved out of disputed waters off the Xisha islands in the South China Sea. Both Vietnam and China have laid claim to the area. Last Thursday the US Senate passed a resolution calling China to withdraw the rig and associated maritime forces from their current
Yangzijiang disposes of non-core businesses Singapore-listed Yangzijiang Shipbuilding Holding pocketed a total of CNY210M ($33.8M) from selling its non-core businesses as part of the company's restructuring exercises. Yangzijiang is focusing on its core shipbuilding business and disposed of its 50% stake in Wujiang Jinke Yangzi Real Estate
Korea Line wins $302M nickel ore delivery deal Korea Line Corporation (KLC) yesterday announced that it has signed a long-term contract for delivering nickel ore to New Caledonia and Korea Nickel Corporation (Soci't' du Nickel de Nouvelle Calédonie et Corée - SNNC) worth KRW307Bn ($302M). SNNC is a joint venture between Pohang Iron & Steel
New rules to facilitate bunkering in Russian port Russia's far eastern Zarubino seaport is expanding rapidly as a bunkering market, thanks to new regulations. The new regulations are designed to make bunkering simpler with the approval from the country's Ministry of Transport. Under the new rules, ships up to 400 m long with draft of up to 16.7 m
Guangdong opens another direct service to Taiwan China's Humen port in Guangdong Province opened its second direct service to Taiwan on Monday. This service is jointly operated by Mainland China's CULINES and Taiwan's Wanhai Lines, and the port rotation is as follows: Kaohsiung, Tai Chung, Keelung, Yantian, Huangpu and Humen. "This direct service
DNVPS undergoes rebranding Fuel management services provider, DNV Petroleum Services (DNVPS), has changed its name to Veritas Petroleum Services (VPS), after its split from Det Norske Veritas (DNV) last year. VPS has since adopted a new logo to represents its maritime roots. VPS says they will continue to adapt to the
Uni-Asia buys new vessel for $9.1M in leaseback deal Singapore-listed maritime investor, Uni-Asia Finance Corporation, a wholly owned subsidiary of Uni-Asia Holdings Limited (UAHL), has acquired a 100% shareholding interest in Japanese ship owner Arena Godo Kaisha (Arena GK) to buy a newbuild GAT ship. The vessel will be purchased by Arena GK from
Bulker fire injures three Three people were admitted to hospital at the Hedland Health Campus, Western Australia, following an engine-room explosion aboard the 1990-built 207,250dwt bulk carrier Marigold. The explosion, thought to have been caused by a faulty generator, occurred on 14 July while the ship was alongside at
Japanese coal-burn declines again Japanese power utilities' coal consumption dipped again in June, marking the second straight month of year-on-year decline, according to figures from the Federation of Electric Power Companies. The utilities consumed 4.38M tonnes of coal in June, down from 4.43M tonnes y/y but up 8.4% on 4.04mt
China new orders up 78% in 1H14 Chinese shipyards' new orders rose 78% year on year to 40.8M dwt in the first half of 2014, a report of the Ministry of Industry and Information Technology (MIIT) said today. Among the total orders, sea-borne vessels totalled 12.3M adjusted gross tonnage. The orderbooks of the Chinese shipbuilders
ClassNK acquires Helm Operations Japanese classification society ClassNK has acquired Canada-based maritime software company Helm Operations. Both organisations described the deal as two world-class companies combining to improve safety and operational efficiency in the marine industry, while improving their success and
Great Eastern Shipping profits from VLGC sale Indian ship owner Great Eastern Shipping has reportedly made a profit from selling a 1990-built VLGC. The 75,000m³ Jag Vidhi has been reportedly sold to Vietnamese shipowner Truong Phat Loc Shipping for $25M. Great Eastern bought Jag Vidhi for $19.5M from Japanese owner Kumiai Senpaku in August
DHL, Cyroport chase hot demand for deep-frozen shipping Refrigerated just isn't cold enough for some shippers, especially those moving extremely temperature-sensitive life sciences or medical products. Stem cells and human tissue, for example, require specialized shipping and monitoring of extremely cold temperatures. To meet growing demand for very deep-frozen, not just refrigerated, transportation, DHL Global Forwarding and LiveConEx, DHL...
Revenue, profit gains at Marten Transport reflect rising truckload rates Marten Transport provided evidence this week that tightening truck capacity is leading to higher contract truck rates. The Mondovi, Wisconsin-based carrier increased its weekly average revenue per tractor 4.1 percent from a year ago in the second quarter and raised revenue per loaded mile by 2.6 percent - Marten's best growth...
CSX says service has stabilized but still below shipper expectations CSX Transportation said service, encompassing both intermodal and carload services, has normalized after a surge of freight but admitted it is working to restore service to a "level customers have come to expect" by adding locomotives and train crews and building track capacity. CSX said it wasn't able to give a...
After bridge collapse, NTSB urges states to review oversized truck permits States are being urged to review their permitting processes for oversized truck shipments following an accident last year that led to an interstate bridge collapse. The National Transportation Safety Board in part blamed the collapse of an Interstate 5 span over the Skagit River in Washington state on slack state oversight...
Eastbound trans-Pacific spot rates fall short of goals Drewry's benchmark spot rate from Hong Kong to Los Angeles rose to $1,900 per 40-foot container this week. Full-size chart Attempts by the trans-Pacific carriers to institute a two-tiered July general rate increase fell just short of realization, as Drewry's benchmark rate from Hong Kong to Los Angeles showed carriers achieved $300...
US imports garner biggest piece of US-Asia container trade U.S. containerized ocean trade with Asian countries - exports, April 2012 to March 2013 versus April 2013 to March 2014: Top Asian countries and moreThe U.S.-Asia ocean container trade increased 2.7 percent to 20 million 20-foot-equivalent units in the 12 months ending March 2014 compared with the prior 12-month period,...
JOC Group Inc. Recognized with Four 2014 Tabbie Awards NEWARK, N.J., July 16 -- Out of more than 450 entries in the 11th Annual Tabbie Awards, JOC Group Inc. was honored in four categories today. The Journal of Commerce magazine and JOC.com website were...
TSA carriers plan to boost rates ahead of peak season Buoyed by continued strength in imports from Asia, the Transpacific Stabilization Agreement today recommended that carriers in the eastbound trans-Pacific increase their freight rates from all origins in Asia to all destinations in the U.S. by at least $600 per 40-foot container, effective Aug. 1. The TSA, a discussion agreement of...
Amsterdam Schiphol posts jump in air cargo volume Amsterdam Airport Schiphol posted a market-beating 8.8 percent growth in cargo traffic in the first half of the year, more than twice the increase at its closest rival London Heathrow Airport. Europe's third-largest cargo airport after Germany's Flughafen Frankfurt Airport and Paris Charles de Gaulle handled 801,700 metric tons as shipments...
Qatar Airways orders more freighters Akbar Al Baker, CEO of Qatar Airways, announcing the largest single aircraft order in the airline's history, alongside Ray Conner, Boeing Commercial Airplanes' president and CEO.Qatar Airways today said it plans to order four new Boeing 777 freighters with an option for four more, bolstering its ambitious bid to become...
FedEx, TNT Express and Royal Mail targeted in French antitrust probe FedEx, TNT Express and the U.K.'s Royal Mail are being investigated by French regulators over alleged anti-competitive behavior in the country's parcel delivery market. The companies have said the investigation could result in "material" fines or losses. TNT Express today said it has been cooperating with the French competition regulator, Autorité de...
TRAC to add, update thousands of chassis in NY-NJ TRAC Intermodal has launched a program to add or refurbish several thousand chassis in its Metropool, the largest chassis pool in the Port of New York and New Jersey. Within the next 12 to 18 months, TRAC expects its Metropool fleet to be updated with 4,000 to 5,000 new or refurbished...
Bangladeshi court rules foreign carriers evaded taxes Hong Kong-listed shipping line OOCL and Abu Dhabi-based Etihad Airways have not yet been officially informed of a Bangladesh high court ruling that accuses them of evading taxes and money laundering in the South Asian country. OOCL and Etihad were two of several foreign shipping and air cargo companies named in...
DAT: Spot truckload volume jumped 50 percent in June The surge in import volumes and freight traffic seen at U.S. ports and on intermodal rail lines and highways in the second quarter sent spot market truck volumes and rates soaring in June. Spot market truckload freight volume jumped 50 percent year-over-year in June. Full-size chart Spot market truckload freight volume was up 50...
Congress set to punt on federal highway funding crisis WASHINGTON - The U.S. Congress is winding up to punt on the challenge of finding a long-term solution to fund the highways, bridges and roads that shippers and carriers depend on to deliver goods and materials. There is little doubt Congress will replenish the Highway Trust Fund by the end of...
Cosco plans new orders as it axes old ships China Cosco Holdings plans to buy five 14,000-TEU ships to help replenish a fleet that has been aggressively trimmed so far this year with 24 ships heading for the scrap yard. The state-owned shipping line will discuss the proposal with investors at a shareholders' meeting it has scheduled for Aug. 28. Also...
Long Beach port OKs $579 million for infrastructure The Long Beach Board of Harbor Commissioners approved a fiscal year 2014-15 budget that calls for $579 million in capital expenditures, including replacement of the Gerald Desmond Bridge and redevelopment of the Middle Harbor container terminal. The commission said the port's heavy expenditures on marine terminal and infrastructure projects are necessary...
Portland ILWU Local, ICTSI resolve dispute after walkout Members of International Longshore and Warehouse Union Local 8 in Portland walked off their jobs for about an hour today, but the dispute was not related to the coastwide ILWU contract negotiations underway in San Francisco. Port of Portland spokesman Josh Thomas said the dockworkers did not return from their lunch...
LR lands deal Lloyd's Register (LR) has secured a contract to class three dual-fuel ferries that are under construction at Remontowa Shipbuilding in Poland.
Teekay duo change hands Two crude tankers in the fleet of Teekay Corp have been sold in $31.3m worth of deals, according to US and European shipbroker reports.
Moody's downs Windsor Moody's Investors Service has taken a red pen to Windsor Petroleum Transport's debt rating.
EIGHT pockets $94.5m Navig8 Products Tankers has raised over $90m from its latest shares sale as it seeks to fund its vast newbuilding catalogue.
DryShips' loan lift Nasdaq-listed DryShips has fixed up a short-term loan worth up to $350m to help it meet bond repayment obligations.
Seven up Eagle Bulk Shipping has secured another reprieve as it battles to restructure debt of over $1bn.
US first for BW A BW Maritime LR1 tanker has been booked to lift the first US oil condensate cargo to leave the country after the government relaxed its export ban.
Vinalines revenue dips Vinalines of Vietnam has posted a slight fall in revenue in the first six months of 2014.
Ultramax orders pile up A spike in interest for ultramax bulk carriers has seen the sub-sector's newbuilding orderbook jump by a massive 76% in the past year.
POSH's new partner Singapore's PACC Offshore Services Holdings (POSH) has struck a deal to bring in a new investor for its Mexican support ship business.
Crewman crushed Imperial Ship Management of Sweden has been criticised by UK accident investigators after a crewman was crushed on a ro-ro in Libya.
N Korean ship stuck Mexican authorities are trying to refloat a grounded North Korean cargoship stranded off Tuxpan.
Heroin scam revealed Kenyan officials have recovered a haul of heroin mixed with diesel on a general cargoship in Mombasa.
Tanker cargo stolen Pirates have hijacked a Malaysian tanker in the South China Sea, stealing its gasoil cargo before setting it adrift with a damaged engine.
Strike delayed Planned strike action at Argentinian ports this week has been placed on ice.
HHI orders slide Korea's Hyundai Heavy Industries (HHI) has reported a 23% drop in new orders to 30 June.
Russia's Baku bid Russia and Azerbaijan are planning a new ferry line from Baku to Olya.
Rio Tinto exports surge Rio Tinto has reported a 23% increase in iron ore shipments for the second quarter of 2014.
Finland's order hope Could Meyer Werft build two new NCL cruiseships in Finland if it completes a takeover of STX's Turku shipyard?
Condor under fire The UK's RMT union staged a protest at Portsmouth on Tuesday to highlight low wages it claims are being paid to ferry workers.
FMG eyes more VLOCs Fortescue Metals Group (FMG) is in talks to order four more VLOC bulker newbuildings, the company disclosed Wednesday.
Indo coal exports slide Indonesian coal exports declined 5% year-on-year in May to 36.5mt, according to data from Bank Indonesia.
Bunker sales slump Singapore, the world's largest bunker port, has seen marine fuel sales fell for the second straight month to a three-month low in June.
Jaenichen confirmed The US Senate has confirmed the appointment of acting Maritime Administrator Paul "Chip" Jaenichen to the permanent posting.
Transpacific carriers plan August rate hike TSA called it "part of an ongoing revenue-improvement program aimed at enabling carrier reinvestment in the transpacific trade lane to ensure adequate service levels as demand increases."
CSX revenue hits all-time high in second quarter Officials said that growth is coming on the strength of upward trends in the intermodal and oil and gas markets, and that this growth would allow them to increase investments this year by $100 million.
J.B. Hunt sees income rise in 2Q
Long Beach budget includes $579 million for capital improvements The budget includes funding for 28 new full-time positions, which include 20 in engineering to support ongoing capital improvements, and six to enhance port security.
Los Angeles container volumes up 14% in June
Track reopens after Norfolk Southern train derails in Virginia
Hamburg-Sud upgrades Med-U.S. West Coast Ship
Senate confirms Jaenichen as MarAd chief Jaenichen has called to increase support for government-impelled cargo, either by increasing commercial cargo opportunities or raising the Maritime Security Program stipend rate for U.S.-flag vessel operators.
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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