Long Beach hit by early shipments US importers who shipped holiday inventory earlier than usual this year contributed to a 9.1% year-on-year decline in container volume at the Port of Long Beach in August. Concern over the threat of labour disruptions at US West Coast ports in the midst of new contract negotiations prompted the
Shanghai Jiangnan secures $618M Cosco order China's Shanghai Jiangnan Changxing Shipbuilding has secured an order for five large containerships from state-owned China Cosco Holdings Co (CCHC) at a total cost of USD618M. Delivery of the five 14,500teu vessels ordered is scheduled for 2017 and 2018. The order was originally for 14,000teu
Hartmann, Jaccar form gas carrier JV German shipowner Hartmann Group and Luxemburg-based conglomerate Jaccar Holdings have teamed up for the joint operation of large ethane gas carriers. The new company, United Ethane Carriers (UEC), based in Singapore, will initially be responsible for the commercial management of five very large
HHI shuffles top management Hyundai Heavy Industries (HHI), the world's biggest shipbuilder, announced on Monday that Lee Jae Seong, CEO and chairman of HHI Group, would resign and Kim Oi Hyun, president of the shipbuilding division and another CEO of HHI, would remain in office. With the reshuffle, Kim, who has served as
Guangzhou Wenchong secures boxship pair Chinese shipbuilder Guangzhou Wenchong Shipyard has secured an order for two containerships from compatriot shipowner Ningbo Ocean Shipping, a subsidiary of Ningbo Marine Group. The two 1,100teu vessels are scheduled for delivery in 2Q15 and 3Q15, with the shipbuilder allocating yard numbers 484
Cochin Shipyard to build new dry dock for LNG ships India's state-owned Cochin Shipyard will build a US200 million dry dock to accommodate the construction of bigger ships, including LNG carriers, for GAIL India that cannot fit in its existing dry dock, India's shipping minister Nitin Gadkari said. The new 300 m long dry dock will enable Cochin
Mixed reaction to 2050 Reef plan An Australian government plan to protect the World Heritage Great Barrier Reef released this week has been hailed by the industry, but environmentalists remain sceptical. The joint Commonwealth-State Reef 2050 Long Term Sustainability Plan isolates expansion to existing priority port developments,
No veto on Sewol bill from South Korean leader South Korean president Park Geun Hye has rejected demands by main opposition party New Politics Alliance for Democracy (NPAD) and MV Sewol victims' relatives to intervene in the passing of the Sewol bill. Park said at a cabinet meeting on 16 September, "Regarding the demand by NPAD and families of
China's Qinzhou partners with Malaysia's Kuantan China inked an agreement on Monday with Malaysia to establish a partnership between two major ports as a move to restore China's ancient maritime Silk Road route. Qinzhou Port in south China's Guangxi Zhuang Autonomous Region will become a sister port of Kuantan, a port city in Malaysia, according
Australia's dirty coal exports may not be at risk New China regulations to cut pollution in urban centres could put billions of dollars of Australian coal exports at risk, Macquarie Bank consultant Wood Mackenzie told Australian media yesterday. The Minerals Council of Australia, however, said the reports were 'misleading and unnecessarily
TMSC's tanker newbuilds secure COAs Tianjin Marine Shipping (TMSC) has secured contract of affreightment (COA) with China's national petroleum companies for its planned VLCC and LNG tanker newbuilds. For its planned VLCC fleet, TMSC has signed contract of affreightment with Unipec, the crude trading unit of Sinopec, a statement of
Economist offers bright 5-year outlook for US containerized exports Full-size chartU.S. containerized exports will grow in the next five years on the back of a strong construction demand around the globe, JOC Group Economist Mario Moreno says. In his five-year forecast for U.S. containerized exports, Moreno said export growth will total an average of 2.4 percent, higher than the 1.6...
Charleston continues to see above-market growth The Port of Charleston's strong container traffic in August has furthered its strategy for above-market growth, although the outlook for the rest of the year is not quite so bright. The SCPA today reported that the Port of Charleston handled 163,970 TEUs in August, jumping 13 percent year-over-year and nearly 7 percent...
Buffett pressured to ensure BNSF handles US grain harvest U.S. Agriculture Secretary Thomas Vilsack urged Warren Buffett last week to ensure that his BNSF Railway will be prepared to deliver a potential record U.S. corn and soybean harvest this year, the latest sign of political pressure on the rail industry to improve poor service. Buffett, who heads the parent of...
Higher volumes and rates propel FedEx earnings Strong domestic volumes in the air and on the ground delivered double-digit profit growth for FedEx in the first quarter of its new fiscal year. The second-largest U.S. transport operator today reported a 24 percent year-over-year increase in net profit to $606 million. Total FedEx revenue rose 6 percent from...
Hawaii to build $266 million container terminal The state of Hawaii plans to build a new $266 million container terminal in Honolulu to cater to anticipated higher levels of cargo volumes in coming decades, according to West Hawaii Today. Honolulu Star-Advertiser reported the terminal would span 94 acres and is expected to boost cargo capacity by a third. West Hawaii...
More US-bound ships quarantined due to gypsy moths The number of ships quarantined in Los Angeles by Asian Gypsy Moth infestations has risen to 15 as inspectors battle to keep the invasive species from making its way into North America. Customs and Border Protection agents at Los Angeles, North America's busiest container port, have quarantined three additional ships in...
CMA CGM upgrades Amerigo service with Miami call CMA CGM has upgraded its Amerigo service between the U.S. and the Mediterranean with the addition of a new call in Miami. The new weekly call will provide closer access to Miami distribution centers and warehouses and to the Mexican market, the French carrier said. The new service, operated exclusively by CMA...
Ward joins JOC.com, expanding South American coverage Robert Ward, a shipping and transportation journalist with more than 20 years of experience, has recently begun reporting for JOC Group Inc.'s print and online products. He brings JOC.com and The Journal of Commerce a diverse background spanning continents and publications, and will be focused on expanding coverage of South...
US Customs plans to take trade facilitation to next level WASHINGTON - The newly appointed head of international trade at U.S. Customs and Border Protection said she wants to streamline regulation, make better use of data and improve employees' analytical skills to improve cargo trade facilitation. As a result, the agency will be able to better focus its attention on high-risk...
Philadelphia port seeks proposals for 200-acre site The Philadelphia Regional Port Authority is seeking "expressions of interest" from potential developers of Southport, a 200-acre Delaware River waterfront site where a container terminal had been planned. Southport is adjacent to the Philadelphia Navy Yard. The site is still being considered for a container terminal, but there's also interest from...
India plans big increase in Chennai port fees Operating costs for ships calling at Chennai Port, a major state-owned cargo hub on India's southeastern coast, will go up steeply beginning on Oct. 1 in response to a tariff increase decision by port regulator Tariff Authority for Major Ports. "Considering the deficit position depicted by the cost statements for the...
Drewry: September's GRI gains eliminated as pricing drops Full-size chartThe cost of shipping a 40-foot container from Hong Kong to Los Angeles declined this week, with rates losing all gains brought on by a Sept. 1 general rate increase. Drewry's Hong Kong to Los Angeles benchmark spot rate dropped 8.8 percent this week to $2,075 per 40-foot container. While...
YRC Worldwide signals improved profitability An influx of freight and higher rates is boosting third-quarter profitability at YRC Worldwide, the company said Tuesday. After a slower than expected start in the first half of 2014, the $4.9 billion less-than-truckload holding company's long-haul subsidiary, YRC Freight, improved its network and made faster progress toward profitability over...
Analyst says commodity markets are working, fears overblown Facing record yields, plunging prices and forecasts of weakening demand, corn and soybean exporters are depressed. A commodities industry analyst Tuesday told the 2014 Soy Global Trade Exchange in Milwaukee their fears are overblown. Low prices invariably generate increased demand, so exports of corn, soybeans and energy products derived from those...
Chile's Iquique port plans $80 million expansion The Port of Iquique in northern Chilean plans an $80 million, four-year expansion to prepare for larger ships that will transit the bigger locks being built at the Panama Canal. Iquique Terminal International, which has held a concession to operate the port since 2000, will acquire two super post-Panamax cranes from...
Maersk raises $1.25 billion in maiden US bond issues Maersk Group said it has raised $1.25 billion from the successful issue of two maiden U.S. dollar bonds. The parent of the world's biggest ocean carrier Maersk Line issued a $750 million four-year bond due in September 2019 and a $500 million ten-year bond due in September 2024. The net proceeds of...
Solid volumes not enough to raise profitability, IATA says Air freight is suffering from the same issues that afflict container shipping, with growing volumes not enough to lift profitability in the face of high fuel prices, weak yields and growing capacity, the International Air Transport Association said in an industry report. In its Cargo E-Chartbook, IATA said volumes continued to...
New China-Europe rail link offers door-to-door service China-Europe rail services continue to grow in popularity with DHL the latest forwarder to offer a new weekly scheduled block train from Suzhou to Poland. The DHL Global Forwarding service will use the trans-Siberian north corridor to DHL's intermodal hub in Poland, connecting Suzhou with Warsaw in 14 days. Crucially, the new...
Half bad Some 50% of tankers vetted by oil major BP have failed its vetting standards amid deteriorating maintenance practices undertaken by financially stressed owners.
Judge tosses Concordia suit A US judge has thrown out a $10m lawsuit against Carnival Corp over the shipwreck of the Costa Concordia.
Brazil hunts support bases Brazil's Petrobras is holding two tenders to secure shore base infrastructure to serve its offshore vessel fleet.
Canal cock-up Egypt has successfully managed to raise $8.5bn to fund a big expansion of the Suez Canal - but has failed to choose the right photo for stamps printed to celebrate the work.
Triyards to spend Singapore shipbuilder Triyards Holdings is plotting expansion through a new share sale.
Canal cash in place Egypt has raised $8.5bn in eight days to fund expansion work on the Suez Canal.
Floating voters Libya's exiled MPs are staying on a Greek ferry after parliament was shifted to Tobruk to escape Islamist gunmen.
Solstad sells another Norway's Solstad Offshore has offloaded an old anchor-handler for approximately NOK 50m ($7.8m), its second ship sale over the last few months.
EMS takes Wave Oslo-listed EMS Seven Seas has acquired Singapore's Wave Shipping, aiming to expand its maritime network in Asia and Australia.
Hostages: what next? In an effort to raise awareness of piracy victims' fate after their release, the Seamen's Church Institute (SCI) has conducted interviews with seafarers who have first-hand experience of a hijacked vessel.
Brazilian boost The Marshall Islands register has signed up 27 new offshore ships in Brazil in the last two months.
UK volumes dip Freight handled at UK major ports marginally declined in the second quarter of 2014, but more cargo units were carried in and out of the country, according to government statistics.
Cosco splashes $618m on boxships State giant China Cosco Holdings Co (CCHC) has finalised its order for five huge new boxships, while increasing their capacity.
Port worker plunges Firefighters in the US have rescued a port inspector who fell into the hold of a bulker at Tampa.
New ethane JV formed Luxembourg-based Jaccar Holdings and Germany's Hartmann Group are to set up a new joint venture (JV) in Singapore to handle the commercial management of ethane carriers.
Lone watch led to smash An inexperienced watch officer caused a collision with a bulker in the Dover strait after trying to avoid a trawler.
Deep Sea PSVs hired Deep Sea Supply has agreed on bareboat contracts for two of its platform supply vessels (PSVs) for about $11m.
Viking offloads veteran Viking Supply Ships has sold a 1985-built platform supply vessel (PSV) to leave it with a modern offshore fleet.
Cammell strike off UK shipyard workers have dropped a walk-out plan after agreeing an improved pay deal.
Triyards wins liftboat Triyards Holdings of Singapore has added a third liftboat to its orderbook in three months.
Trade deal to hit jobs Canadian shipowners have warned that a free-trade deal with the European Commission could put thousands of local jobs at risk.
VLCCF deal half done Knightsbridge Tankers has completed the first stage of its shares for ships exchange with sister company Frontline 2012.
LA hits four year high Port of Los Angeles has seen its largest cargo volumes for the month of August since 2010, figures just released show.
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