Ferguson Shipbuilders goes into administration, making 70 staff redundant Scottish builder suffered cashflow pressure
Asia-Europe rates tumble once more to negate August GRI Freight rates fall $143, representing the largest weekly decline since February
Shanghai port operator plans to sell 20% in terminal joint venture with Hutchison SIPG to divest from Waigaoqiao-based Shanghai Mingdong Container Terminals for strategic reasons
Lauritzen downgrades forecast as weak markets continue First-half results positively impacted by vessel sales and sale of claim against STX Pan Ocean
Silly season turned out to be not so silly after all It's been a summer of substance, rather than silliness
Hapag-Lloyd adds barge services to growing list of Rotterdam surcharges Congestion surcharge of $27 per teu for all barge services with immediate effect
Pan Ocean explains first-half turnaround and advances debt repayment Former STX affiliate strengthens financial position on better operations, debt waivers and reversal of provisions
Asia not new market for PMSCs, says regional piracy watchdog Owners banking on naval support, according to ReCaap
Rejuvenated UK economy boosts Immingham box volumes UK port achieves record monthly volumes of 10,000 teu in July
Suezmax earnings under pressure, but Libya could perk things up Earnings slide as August loading closes, but interesting developments are taking place
Capes of good hope Greater demand for Australian iron ore and coal is giving rally the spark
New trade patterns feed tankers Tankers can't simply rely on oil supply growth, it's all about changing trade patterns now
Wan Hai profits increase nearly three-fold Intra-Asia specialist reports $36m in net profit
Turnaround quarter for Yang Ming Taiwan box carrier returns to black on better cost controls
Fuel savings behind Evergreen Marine return to the black Effect of more energy-efficient ships beginning to make impact
Passengership safety - why we must learn from those who were there It takes a first-hand account to understand decisions taken in extremis
China ship quarantined over Ebola fears A Chinese-flagged ship from Sierra Leone on its way to Cape Verde was put in quarantine in Sao Vicente yesterday to ensure its crew is free of Ebola, according to Xinhua News Agency today. The Chinese ship left Sierra Leone on 31 July and is off the Port since last week, local media reported. "The
Bangladesh arrests owner of capsized ferry Bangladeshi security officials on Wednesday (13 August) arrested the owner of the heavily overloaded ferry M V Pinak that sank on 4 August due to bad weather in the river Padma, about 20 miles south of the capital Dhaka, killing about 110 people. The ferry did not have a valid operating license when
New York restricts Jamaica Bay dredging Untested soil dredged from New York Harbor deepening projects will no longer be allowed to be placed in borrow pits in nearby Jamaica Bay. A law signed on 11 August by New York Governor Andrew Cuomo prohibits the use of borrow pits to as placement areas for dredged material unless the soil has been
Manson awarded $10M in contracts Dredging contractor Manson Construction has been awarded two contracts worth a total of $10M to dredge one of America's most important energy gateways. The US Army Corps of Engineers on 13 August awarded a $6.4M contract to the Seattle-based company to perform maintenance dredging in the Port Arthur
Mooring line accident kills deck officer Russian chief officer Andrey Pakholchuk died after being knocked down by a mooring line that snapped while his ship was docked at the Port of Beaumont, Texas. Pakholchuk, 44, had been working onboard the Enterprises Shipping & Trading-owned bulker Mystic Striker, which was moored at ExxonMobil's
Fujian Mawei wins Tasik DSV Chinese shipbuilder Fujian Mawei Shipyard has won an order for a diving support vessel (DSV) from new Singapore-based offshore company Tasik Subsea. The newbuilding will have an overall length of 105m, dynamic positioning three, hangar facilities for two deep water remotely operated vehicles, 300m
Eagle Bulk loss widens Eagle Bulk shipping has seen a substantial widening of its 2Q net loss, to $44.66M for 2014 against a net loss of $3.04M for the same quarter of 2013. The Sophocles Zoullas-led company, which filed for a pre-packaged bankruptcy last week, booked $8.17M in reorganisation expenses in its 2Q14
Taizhou Sanfu secures eight Nordana MPPs Taizhou Sanfu Ship Engineering has secured an order for eight multipurpose (MPP) heavy lift vessels from returning Danish owner Nordana. The eight 12,100dwt vessels have been designed by Shanghai Merchant Ship Design and Research Institute (SDARI) and are scheduled for delivery from April 2015 to 2H
Portable atmosphere testing instruments mandatory The IMO is finalising mandatory requirements for ships to carry portable atmosphere testing instruments that are expected to be adopted in November this year and come into force on 1 July 2016 as SOLAS regulation XI-1/7. The decision is part of the IMO's new requirements added to SOLAS Chapter III,
Adani wins Australia rail line deal Indian conglomerate Adani Mining has won state approval to build a 388km rail line for its $15bn Carmichael coal mine in the eastern state of Queensland, Australia. The line will enable transportation of 100M tonnes of coal a year after construction, Adani said. Queensland State's Coordinator
Another Scottish shipbuilder enters administration Ferguson Shipbuilders, the River Clyde's last remaining commercial shipbuilders, has gone into administration. "A lack of significant orders and mounting cash flow pressure has led to the Group's inability to continue trading," Blair Nimmo, joint administrator and head of restructuring for KPMG
Capesize market surges on cargo growth Capesize rates pushed up this week as cargoes appeared in Australia, Brazil and Indonesia. A Singapore-based broker told IHS Maritime: "It's a rare moment when all the elements are coming together. We see Capesizes being booked to take Indonesian coal to India and to ship coal and iron ore from
China widens port tax refund initiative Beijing announced Thursday to widen its exports tax refund programme to eight ports nationwide, instead of the current two. Beginning 1 September, the initiative will be applied at the ports of Lianyungang, Nanjing, Qingdao, and Suzhou in coastal areas, and Jiujiang, Wuhan, Wuhu, and Yueyang in
Seven bulkers to be auctioned in Guangzhou Seven bulk carriers owned by Guangdong Lanhai Shipping, a Chinese bulker operator, will be put on auction block to repay bank loans. The bulker carriers are identified as the five supramaxes Lan Hai Dong Feng, Lan Hai Ying Xin, Lan Hai Qian Jin, Lan Hai Lian He and Lan Hai Yang Fan, and the two
ReCAAP reports fewer piracy incidents in July Anti-piracy organisation, the Regional Cooperation Agreement on Combat Piracy and Armed Robbery against Ships in Asia (ReCAAP), has released a report for July 2014, showing a significant decrease in the number of piracy incidents that occurred in Asia. The number of incidents of piracy and armed
Products tanker catches fire Fire broke out on the chemical products tanker Pine Galaxy near the Eastern North Pacific Ocean, with one crew injured. The fire in the engine room of the 20,000dwt vessel owned by Japan-based Kasuga Shipping occurred 940 miles west of Eureka, California, USA at 0528 hours local time on 13 August.
Singapore awards maritime scholarships Singapore has taken another step to promote marine education among students to meet the manpower needs of the growing maritime industry. A total of 51 scholarships, worth more than SGD1.4M ($1.12M), were awarded yesterday by the Singapore Maritime Industry as part of the country's outreach and
Abidjan bans vessel calls from Ebola-affected countries Following on from the Ebola-hits on Guinea, Liberia, Nigeria, and Sierra Leone, the Ivory Coast has now blocked access to ships arriving from countries affected by Ebola. Abidjan Port Authorities issued an official circular to all owners and agents advising that from 12 August vessels arriving from
Congestion growing in Philippine ports Congestion is worsening in Manila ports after a day time ban on trucks in the city was expanded. This led to a doubling of turnaround time, causing congestions and delays at Manila's three ports - Manila North Harbor, Manila South Harbor and the Manila International Container Terminal (MNL).
DSME second quarter profit plunges Daewoo Shipbuilding & Marine Engineering's (DSME's) 2Q14 profits plunged 85% year-on-year to KRW7.6Bn ($7.4M). South Korea's third-biggest shipbuilder said in a Korea Exchange filing that the appreciating won resulted in lower net profit, despite a strong performance in its core shipbuilding
Odd time for new canal projects Canals used to be a sleepy topic. As a news organization, you could count on little or nothing to report. Once in a while, a drought would restrict drafts at the Panama Canal, or wait times would spike temporarily, but that was about it. Suddenly, times have changed. In the early...
Ports of Montreal, Halifax bullish on Canada-EU trade pact The long-term outlook for the trans-Atlantic container trade between Canada and Europe brightened this month with the agreement in principle on the text of a new free trade agreement. Executives at Canada's two main east coast container ports of Montreal and Halifax say it will boost their volumes. It will take...
SCFI: US East Coast rate holds as other lanes fall The SCFI Shanghai-U.S. East Coast rate slipped just 0.2 percent week-to-week to $4,178 per 40-foot container. Full-size chart Growing volumes to the U.S. East Coast caused by cargo diversions and peak-season demand have buoyed spot rates on the lane. Spot rates to the U.S. East Coast on the Shanghai Containerized Freight Index have...
Ryder Europe adds refrigerated trailers in Europe as demand rises As global demand for refrigerated transport service rises, Ryder Europe is adding more temperature-controlled trailers to its rental fleet in the United Kingdom. The European division of the U.S.-based equipment rental and leasing company will add 60 reefer trailers to its U.K. fleet, 40 from manufacturer Montracon and 20 from Schmitz...
US freight volumes, expenditures drop in July, but holiday season looms The Cass Freight Index remains up year-over-year. Full-size chart Although freight volumes and expenditures in the U.S. are beginning to see seasonal drops, numbers still remain higher than last year's tallies. The Cass Freight Index fell 3.9 percent in July, the first reported decline since January. The index typically sees drops from June...
Mumbai-based container line expands India feeder network Shreyas Shipping and Logistics has introduced a fortnightly coastal container service between West India and South India, adding capacity on the trade route the Mumbai-based feeder line already serves with a weekly service. The new service began with the 1,700-TEU M.V. SSL Mumbai calling at DP World's Vallarpadam Transshipment Terminal in...
Shipping Corp. of India denies plans to close liner business Shipping Corp. of India has denied that it is planning to shutter its liner division, but did say it was reviewing the segment's performance and eyeing ways to increase its profitability. "It is clarified that the rumor of closing down the liner segment is incorrect. However, SCI has been continuously monitoring...
Slight loss for Ultrabulk Ultrabulk Shipping has booked a loss of $1.1m in the first half of 2014, something that has been seen at the company as a "neutral result".
Norden tipped for double sale Norden is said to have cashed in two of its older medium range (MR) products tankers.
Rokke set for ethane deal Petrochemicals giant Saudi Basic Industries is to ship US produced ethane into the UK as a new feedstock for an existing plant.
Boskalis on the rise Royal Boskalis Westminster is on course for a record full year profit after a strong opening to 2014.
Let them eat cake We take a look at what was said in the market over the past week.
Ferguson enters administration Historic British shipbuilder Ferguson has entered administration with the immediate loss of all but seven jobs at the company.
Torm's restructuring hope Torm is hopeful of completing its second post-crash restructuring within the next seven months, its chief executive says.
Lauritzen dials back forecasts J Lauritzen has lowered its full year profit forecast in the face of a slow dry cargo market recovery.
Atlantic Offshore in bond buyback Norwegian support vessel operator, Atlantic Offshore, has completed a NOK 100m ($16.25m) tap issue to buy back earlier bonds and extend the maturity horizon.
$94.8m deal for Swissco Swissco has fixed four offshore drilling units to an oil major in Latin America.
TEN's contenders ready Tsakos Energy Navigation is sitting on assets worth over $1bn that could be spun-off into an MLP, a leading analyst says.
Eagle sinks deeper into red Eagle Bulk Shipping's loss continues to grow with its second quarter red ink coming hot on the heels of it preparing Chapter 11 papers.
Cunard cancels Ongoing propulsion problems have forced Carnival Corp subsidiary Cunard to bring forward the dry-docking of its 90,000-gt cruiseship Queen Victoria (built 2007) by almost a year.
Muscat port to close The ancient Omani capital of Muscat has been at the center of Middle Eastern maritime trade for many millennia. This will change at the end of this month when its harbor, Port Sultan Qaboos, closes permanently to commercial shipping.
Silver lining Few owners are looking forward to the implementation of regulations aimed at curbing air pollution but the campaign may boost the bottom line of fuel providers like Aegean Marine Petroleum.
Aegean trims the fat Greek bunker supplier Aegean Marine Petroleum Network is planning to part ways with more ageing assets in the months ahead, management told investors Thursday.
Former MarAd chief counsel calls out agency on shipbreaking
Port Everglades to pay $18 million for expanded dredge project The harbor currently is 42 feet deep, and the entrance channel is 45 feet deep. The port must pay for dredging the berths to the proposed depth; it is funding $5.5 million of pre-construction work now at its own risk.
HHLA says Ukraine and Russia affecting business The company said its terminal in Odessa was being affected by the crisis in the Ukraine, with container throughput falling "considerably short of the previous year's figures."
Yang Ming reports second quarter profit, upgrade of Asia services Revenues were 34.3 billion NTD in the second quarter this year, compared with 29.9 NTD last year. Yang Ming also announced it has upgraded its southeast Asia service and India service to meet market demand.
Port of Oswego's volumes shine from aluminum Aluminerie Alouette expects to ship close to 500,000 metric tons of aluminum to U.S. ports including Oswego; Toledo, Ohio; and Detroit on barges owned by McKeil Marine over the next three years.
Houston MGO prices end week on low note Average avails reported at the US Gulf port.
Weekly Global Market Report A weekly price roundup from bunkering hubs around the world.
Enforcement of upcoming sulphur cap will be 'key factor' in Europe 'Some shipowners are very concerned about consistent enforcement,' says VPS managing director.
Chinese bunker supplier's Q2 results improve year-on-year Increased revenue due to rise in sales volumes.
Panama Canal: Over 1 million transits in 100 years Expansion project 'will change trade patterns', says ACP.
Scrubber refit on Cunard cruise ship goes ahead of schedule Dry dock brought forward to January 2015 from December 2015.
Rolls-Royce: Future fuel selection will have more dimensions 'There is no longer a simple right choice.'
Lukoil-Bulgaria Bunker to retrofit second tanker Modernisation work on first tanker finished.
Markets close week soft in Europe Public Holiday in Piraeus.
CO2 monitoring scheme could be approved next year Change in EU Presidency could speed up plans to compel ships to measure their CO2 emissions.
IFO prices soft in Fujairah Cape Town: August 27 earliest delivery date for IFO.
Lukoil warns industry of fraud Energy giant 'strongly recommends that suppliers who claim to be acting on behalf of Lukoil or its subsidiaries be carefully examined'.
Fuel oil stocks at 15-month low Singapore onshore inventories fall 14% in one week.
'No sign that Iranian fuel oil exports have been stopped' Iranian product still entering regional market, says Fujairah player.
Asian market ends week softer Meanwhile, offices in Busan were closed for a holiday.
Fraudsters 'hack' bunker company's e-mail accounts Client 'tricked' into paying $500,000 to a bogus account.
Bunker demand 'weak' in eastern China Fuel oil supplies remain tight.
Bunker-saving boxships win financial backing Investment group Quinenco injects $176 million in funding.
Estonia-based shipping firm preps for ECA regulations Company working towards 'a smooth transition' to use low sulphur bunker fuel.
Brightoil adds to bunkering fleet Company in move to boost bunker sales volume.
TOTE vessel receives dual fuel engine package Vessel currently under construction at NASSCO shipyard.
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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