UASC takes centre stage in box alliance shake-up Currently ranked at number 17 in terms of fleet capacity, the carrier's orderbook will propel it into the top 10
Medway wins new car volumes New vehicle inspection centre wins Kent port 50,000 vehicle imports per year
BF Tanker to build fleet of 20 unique multifunctional product tankers Russia's shipbuilding climate really positive for this type of construction, says fledgling firm's boss
Container traffic continues to rise at California's premier ports Long Beach and LA monthly volumes up 8% and 13.9% respectively
Inactive fleet creeps up This week 1.4% of the overall live fleet is inactive
Crimea voyage orders could be unlawful, Steamship warns EU now bans import of goods originating from peninsula
Boskalis-led consortium lands $768m Singapore contract Reclamation project key to city state's plans for 65m teu megahub at Tuas
Costa Victoria under brief arrest in Taiwan Cruise line in dispute with former passenger over medical bills and compensation
US imports soar as retailers fear west coast shutdown Threat of breakdown in labour talks starts a race to stock up
Zim completes restructuring Israel Corp's equity boosts signals end to year and a half of intensive negotiations
Milaha secures two-year charter to carry ammonia Cargoes will be exported around the world from Qatar on LPG carrier
Sinotrans Ltd plans to raise $219m via new share issues Logistics arm of Sinotrans & CSC to build working capital amid group-wide restructuring
Two German owners get suspended sentences for breach of fiduciary duty Former Harms Bergung owners Albrecht and Mayer pledge to take case to appeal
DryShips bridge loan allows breathing room Investors remain confident, but are still awaiting long-term solution
Orix buys majority stake in Hyundai Logistics Deal will help Hyundai Group raise cash for strapped HMM
Passengers injured in Thames river boat accident Several hundred passenger have been evacuated from a river cruise boat after it was involved in a collision with a commercial vessel on the river Thames today (17 July). Six passengers aboard Millenium Time were treated by paramedics, but none had to be hospitalised, City Cruises, which operates the
SHI secures gas carrier sextet Samsung Heavy Industries (SHI) has secured an order for six gas carriers from an unknown Asian owner at a cost of KRW740.7Bn ($720.4M). The price of about $120M each is too high for conventional LNG carriers and too low for VLGCs but sources indicate they are likely to be a new series of very large
Trieste claims Italy's ports crown The port authority of Trieste has claimed that the port bucked the downward trend of other Italian ports in 2013, registering a total cargo volume of 56M tonnes, an increase of 15% on 2012. "Trieste, unlike other Italian ports, has recorded a notable traffic growth in all cargo sectors: energy,
Yangfan wins Ningbo Ocean boxship pair Chinese shipbuilder Yangfan Group has won an order for two containerships from compatriot shipowner Ningbo Ocean Shipping. The two 1,100teu vessels are scheduled for delivery in March and April 2016. This latest order follows the owner's order for three 2,400teu vessels placed in May 2014 at Bohai
Boskalis and Van Oord win €100M Singapore contract In a consortium that also includes Hyundai, Samsung, and Penta Ocean, Dutch dredging contractors Boskalis and Van Oord have been awarded a reclamation contract by Jurong Town Corp for Tuas Finger One, part of Singapore's Tuas mega port project. "We have a 15% share of the project," a Boskalis
France demands guarantees regarding Costa Concordia towage French environment minister Ségolène Royal has said she wants to see proof that the Costa Concordia poses no pollution threat to the island of Corsica before the towing of the wrecked vessel to the port of Genoa begins next week. Royal, who met her Italian counterpart Gian Luca Galletti in Milan
Pan Ocean reveals debt-equity swaps Pan Ocean is executing another round of debt-for-equity swaps with creditors. The South Korean bulker operator disclosed its paid-in capital plan yesterday in a Korea Exchange filing. The company will issue 14.1M new shares and these are scheduled to be listed on 30 July. This round of
Yinson delays sale and purchase agreement announcement Malaysia-listed floating production unit player Yinson has postponed its announcement of a sale and purchase agreement. Previously, Yinson had received an offer from BW Offshore to either sell down or increase its stake in the Petroleo Nautipa floating production, storage, and offloading facility
LA-LB box imports rise 13% in June Cargo volume at America's largest container port complex rose in June as the after-effects of a potential labour disruption contribute to a surge in box business. Combined imports surged 13% to 698,720teu for the month compared with the same period a year ago, led by a 16.6% increase - to 382,666teu
Rio Tinto iron ore shipment up Rio Tinto posted a 20% spike in iron ore production in 1H14, the miner announced yesterday. Shipments out of Pilbara exceeded production, drawing on stockpiles, to post a record for the first six months of the year. A port infrastructure remains on track for completion by June 2015, the miner said,
FMG eyes four more VLOCs Australian iron ore miner Fortescue Metals Group is in talks with a Chinese shipbuilder to construct four more very large ore carriers. These four vessels are in addition to its FMG's order of four VLOCs for $275M at Yangzijiang Shipbuilding's Jiangsu New Yangzi yard last month. This second batch of
Boskalis consortium bags Singapore port job A Royal Boskalis Westminster-led consortium has been awarded the contract to expand Singapore's mega port in Tuas. Singapore-based developer Jurong Town awarded the reclamation project of Tuas Finger One to the consortium comprising Hyundai, Samsung, Penta Ocean, Boskalis and Van Oord. The total
Bohai Leasing to become world's largest container lessor Bohai Leasing, a subsidiary of HNA Capital, has signed a letter of intent to acquire 80% stake in container leasing company Cronos in cash, a deal that would make Bohai Leasing the world's largest container lessor. The deal is non-binding and subject to change, a stock filing of Bohai Leasing said.
Constraints seen in floating-system building As floating production systems become more sophisticated, shipbuilders should think out of the box to deliver the floaters on-time and without cost overruns, said a consultant today. There are currently 65 production floaters, eight FSOs and four MOPUs on order. This is a 5% increase from 2Q14 and
Tanker attacked in South China Sea A Malaysia-flagged tanker was hijacked and its cargo siphoned in the South China Sea. Grolite Shipping's MT Oriental Glory was en route to Sandakan in East Malaysia from Singapore when it was hijacked on 15 July. The pirates siphoned around 1,500 tonnes of marine gas oil and stole MYR15,000 ($4,700)
Japan yard orders up 141.5% in June Japanese shipyards had a remarkable rebound in orders in June, with contracts rocketing 141.5% year on year. Figures from the Japan Ship Exporters Association showed its members clinched 91 export orders of 3,392,460gt in June, compared to 38 orders of 1,404,820gt in June 2013. This was also up from
POSH partners with Grupo Pegaso Singapore-listed PACC Offshore Services Holdings has signed a term sheet with Grupo Pegaso, a Mexican conglomerate, for Grupo Pegaso to acquire interests in POSH's joint ventures in Mexico. "The parties are now working towards signing a definitive agreement" said POSH in its company announcement.
Singapore accuses Maersk of pushing anti-trust regulations 'to limit' The Singapore National Shippers Council said today Maersk Line is testing the limits of anti-trust regulations. The Council said this in a follow-up statement about Maersk's proposal of the 2M vessel-sharing arrangement with Mediterranean Shipping Company (MSC). Following China Ministry of
Evergreen shares slots on Simatech ships in new Mideast service Evergreen Line has introduced a container service between the India subcontinent and the Middle East by acquiring slots on a weekly service operated by Simatech Shipping, the Dubai-based intra-Asia feeder line. The port rotation of the regional loop, marketed by Simatech as the CCG Service, is Jebel Ali, United Arab Emirates;...
Zim completes debt restructuring deal Zim Integrated Shipping Services said it finalized its debt restructuring deal after its parent Israel Corp. invested $200 million of new equity into the ocean carrier. The agreement, struck after 18 months of negotiations with creditors, including banks, shipowners, shareholders, bond holders and the Israeli government, paves the way "for a...
CP 'winning' domestic intermodal push Canadian Pacific Railway said it will likely increase domestic intermodal volume on a double-digit basis over the next couple years after seeing 53-foot container volume rocket 18 percent year-over-year in the second quarter. CP CEO and Director E. Hunter Harrison is targeting domestic intermodal growth as one of the railroad's top...
WCI: Eastbound trans-Atlantic rates hit record low The spot rate from Shanghai to Rotterdam fell 5.5 percent week-over-week to $2,630 in the week ending July 17. Full-size chart Spot rates from Shanghai to Rotterdam, the Netherlands, eroded this week, losing 35 percent of the gains it garnered in the last two weeks, and trans-Atlantic rates saw no gains. The spot...
Matson carves niche in trans-Pacific expedited market As niche markets go, Matson seems to have several cornered. It's a majority ocean carrier in the Hawaiian market, for example, and the company's expedited service allows it to stand out from most larger, international carriers. It's that venture that Matson CFO Joel Wine says is shoring up profits for...
Breaking Bad For months, we've been asking how North American infrastructure at ports, rail heads and on the roads would hold up when imports grew at sustained levels beyond the low-single-digit levels seen through the first quarter of this year. Well, the returns are starting to come in, and the news is anything...
Arbitrators to hear Panama Canal cost overrun dispute An arbitration hearing is set to begin July 21 in Miami on a contractor's claim for $180 million in cost overruns for expansion of the Panama Canal. The claim is one of several totaling $1.6 billion that may go to arbitration if the Panama Canal Authority and an engineering and construction...
New intermodal facility opens at Port Everglades Port Everglades' new intermodal transfer facility.Port Everglades' new intermodal transfer facility is up and running, and officials are hoping it will keep the Florida port competitive with other destinations in the Southeast. Florida East Coast Railways' Intermodal Container Transfer Facility opened yesterday with a ribbon-cutting ceremony and tours for the public. The...
ILWU talks skewing second-quarter import volumes The impact of importers' contingency plans to avoid any labor disruptions on the West Coast during the peak shipping season are showing up in second-quarter import volumes. Retail shippers funneled more Asian imports through East Coast ports and moved shipments into the pre-peak months to build inventories in the event of...
Del Monte reefer detained The crew of a reefer controlled by an affiliate of US food giant Del Monte Fresh Produce has been accused of violating regulations that prohibit the disposal of various pollutants at sea.
NewLead lands on firing line Wall Street is rife with rumours that diversified Greek operator NewLead Holdings may be on the fringe of losing its Times Square listing.
EOC orders in China EOC Limited has inked a contract to construct a pair of offshore accommodation and maintenance vessels.
GMLP lifts dividend John Fredriksen's Golar LNG Partners has lifted its dividend for the second quarter.
TAS lifts earnings Malaysia's TAS Offshore has posted a much stronger annual profit as revenue soared.
Bareboat bliss StealthGas of Greece has fixed out three LPG newbuildings for seven-years amid positive market signs.
StealthGas orders again Greece's StealthGas has added up to six more LPG carriers to its orderbook, while tearing up deals for two Korean newbuildings.
Cargill in Diana deal Diana Shipping has secured period employment for one of its panamaxes at more than double the present spot market level.
Och sells Genco stock US investor Daniel S Och has cashed in the majority of his shares in Genco Shipping & Trading soon after its exit from Chapter 11.
Milaha fixes LPG ship Qatar producer Muntajat has signed up a domestic LPG carrier for export work.
Aker Philly springs buyback Kristian Rokke's Aker Philadelphia Shipyard is the latest quoted shipping company to roll out plans for a share buyback programme.
WWL tries Tyne Ro-ro group Wallenius Wilhelmsen Logistics (WWL) had added the UK's Port of Tyne to its Asia to Europe calls.
OSG falls further Restructuring US tanker owner OSG has revealed a bigger loss in May, as its total deficit since filing for bankruptcy in November 2012 reached $969m.
Crew unprepared A UK ro-ro crew was ill-prepared to deal with a fire started by a colleague's cigarette, an accident investigation has revealed.
Nordea nets more Nordea Bank's shipping division has posted improved first half numbers despite a slight depression in lending during the second quarter.
Ro-pax forced ashore A Philippines inter-island ferry ran aground in typhoon Glenda on Wednesday.
Iino bulker grounds A Japanese bulker developed a list and took on water after grounding off Canada.
Bonheur brought lower Fred Olsen holding company Bonheur has posted lower earnings in the first half, as offshore drilling and cruiseship profit fell.
Samsung's gas puzzler Samsung Heavy Industries has secured a substantial order for "gas carriers" which has puzzled shipbuilding experts.
Cash keeps coming Canada is pumping another CAD 58m ($54m) into eastern ferry services.
TSA tries again The Transpacific Stabilisation Agreement (TSA) group of container lines is trying for another big rise in rates from Asia to the US.
Ningbo Ocean orders duo China's Ningbo Ocean Shipping Co has continued its fleet expansion with another containership order in China.
Boskalis win Tuas gig A Royal Boskalis Westminster-led consortium been awarded work on the expansion of the Singapore Tuas Mega Port development.
KLC seals nickel deal Korea Line Corp (KLC) has secured a long-term contact to ship nickel ore from New Caledonia to South Korea in a deal worth KRW 307bn ($300m).
A&P scoops ro-ro trio A&P Group has secured a three ship repair and maintenance contract from ro-ro operator Euroship Services Limited.
Analyst believes Panama Canal completion may be delayed "Labor relations remain strained to date," the analyst said. "Such frequent, low-level disputes will negatively affect the effectiveness of conflict-resolution mechanisms relating to the canal."
ICAO: Air cargo to grow 3.7% in 2014
Zim completes debt restructuring Zim said the restructuring "provides the company with a stable, long-term capital structure. The company will now focus on the implementation of its business plan, with a view to achieving profitability in the near future."
Long Beach container traffic up 8% in June
DHL unveils new cryogenic shipping option
Cathay adds Calgary freighter service
Neglect of U.S. border infrastructure continues, hearing reveals Most of the 167 checkpoints on the northern and southern border are outdated and not configured to meet Customs and Border Protection's post-9/11 security missions.
French regulator investigating FedEx, TNT and Royal Mail
U.S. adds trade sanctions against Russia The Obama administration said Russia continues to provide Ukrainian separatists heavy weapons, equipment, and other financing, and continues to allow militants to enter Ukraine freely.
Commerce investigates certain Chinese tire imports
CarrierDirect: Pricing power shifting to domestic carriers
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