How to be a tanker asset player Tanker Investments makes no secret of its mission to turn a profit on trade in tonnage
Report urges Western Australia to review its FLNG plans State parliament committee warns of negative impact on local economy and jobs
Troubled times for Australian LNG projects Delays to projects from cost overruns could leave new tonnage high and dry
A start-up with bite? Molaris seeks equity for E-Rex Alma Maritime boss seeks up to $300m from New York investors to back a bulk venture
TEN posts best results since early 2010 Greek tanker owner says $14.6m net income helped by shuttle tankers and healthier crude rates
Intra-Asia trade growth undermines long-haul chemtanker trades Drewry Maritime Research expects the trend to continue as Chinese demand trebles
Week on Wall Street | May 16 Free to read: Lawyers make hay as investor groups take to the courts
Steamship sees positive underwriting result Combined ratio falls to 98%
NileDutch in tie up with CMA CGM The two shipping lines will team up on the South America-West Africa trade lane
TT Club announces $12m surplus for 2013 Restructuring is key to performance, says Pontoppidan
Drewry joins the chorus warning against VLCC overordering 'Owners need to be cautious,' analyst cautions
Strike Club will switch its European business to a new UK mutual Change responds to Brussels' Solvency II directive
Odfjell and private investors form new LPG/ethylene shipping joint venture Joint venture's partners will pump $50m each for project's growth
Los Angeles and Long Beach both enjoy box volume growth in April Long Beach says rebound in volumes is down to return to normal shopping patterns
Chubu Electric buys stakes in LNG carriers from Mitsubishi, NYK and MOL Japanese utilities firm invests in two 153,000 cu m ships to deliver its own cargoes
Production surge threatens stability of oil prices Lessons from history show a change in oil price sentiment can be swift and brutal
Asking the right questions BMT offers non-industry investors the answers they need when buying terminal assets
DP World sees opportunities in a changing marketplace Dubai-headquartered terminal operator set for an improved year in terms of volumes, but still has to contend with larger vessels and the growth of alliances
US investigation 'may affect CIMC business' Shenzhen-listed China International Marine Containers (CIMC) stated today that the United State's initiation of investigations into antidumping and countervailing duties (AD and CVD) on containers made in China may affect parts of its business. The US Department of Commerce announced on 14 May that
ASEAN-India trade 'could grow with collaboration' Trade between India and the ASEAN bloc could grow if an upcoming joint working group (JWG) between the two countries is successful, a leading shipping industry source has said. "The key point of this JWG is to address the primary issue of rail/road connectivity between India and the countries in
Radiance starts year with strong quarterly results Singapore-listed offshore vessels company Pacific Radiance (Radiance) is off to a dream start for the year with gross profit surging to 91% in 1Q14. Radiance saw its 1Q14's profit after tax and minority interest (PATMI) hiked by 110% year on year to $17.8M, while its revenue jumped by 33% to $42M
Iron ore '30 benchmark' hit twice to China Last week marked the second straight week where 30 drybulk vessels were chartered in the spot market to ship iron ore cargoes to buyers in China, according to a research note from drybulk consultancy Commodore Research. Commodore noted: "This is a very significant amount; during all of last year,
BW Group to buy 10 MR tankers under JV The BW Group will purchase 10 MR product tankers under a joint venture with investment management firm PAG. Under the JV agreement, BW Pacific will buy the tankers from Elandra, a company associated with commodity trader Vitol Energy (Bermuda). BW Group CEO Andreas Sohmen-Pao commented: "BW is
Positive outlook for MR tankers Despite disappointing earnings for medium-range (MR) products tankers at the start of 2014, shipbroker EA Gibson believes fundamentals for the segment remain positive. The Baltic Exchange's TC2 assessment for the NW Europe - US Atlantic Coast averaged close to $10,000/day on round voyage basis
Pan Ocean profits since receivership Pan Ocean returned to black for the first time since it began its corporate rehabilitation programme in June 2013. The last time the former STX Pan Ocean, which dropped the "STX" from its name after the STX chaebol executed a debt-to-equity swap, was in the black, was in 2011. The company made
Asia-Europe Spot Rates Drop, But Spike Expected Spot container freight rates as measured by the Shanghai Containerized Freight Index dropped on the Asia-Europe lane this week, but Asia-U.S. rates climbed.
DHS to Congress: 100 Percent Container Scanning 'Highly Improbable' WASHINGTON - The Department of Homeland told Congress it won't meet a federal mandate requiring all U.S.-bound containers
US West Coast Ports Big Winners in WRRDA Bill WASHINGTON - Soon-to-be enacted U.S. port legislation will inject a modicum of fairness into a port funding program that has split the industry since the Harbor Maintenance Tax was created in 1986. The result is a big win for West Coast ports that have seen billions in taxes collected from their imports support competitor ports.
1Q Trucking Dashboard: Higher Rates, Revenue Gains The first quarter was warmer for trucking than you might think - at least financially.
Water Resources Bill: What It Means for US Ports WASHINGTON - It's finally happened. Senate and House leaders have reached an agreement on long-delayed legislation that would authorize major port and inland waterway projects, speed up port deepening work and reform the Harbor Maintenance Trust Fund. In other words, Congress is addressing some of shippers and transportation provider's major concerns, including a lack of equity for donor ports and the diversion of Harbor Maintenance Tax dollars from ports.
Growth Accelerating at Los Angeles, Long Beach Ports The ports of Los Angeles and Long Beach, which combined handle more than 40 percent of U.S. container trade, both reported double-digit monthly container import growth in April.
Ocean Carrier Rate Revision Roundup for May 16 Multiple carriers have planned general rate increases in various trade lanes in June and July, although any gains achieved could be fleeting as overcapacity and sluggish global demand continue.
Wan Hai's Focus on Asia Keeps Line Ahead of Taiwan Rivals Intra-Asia specialist Wan Hai Lines posted a modest $21.8 million profit in the first quarter as the carrier leveraged its network to remain the leading light among Taiwan's top three shipping companies.
TPM 2014 Sponsored Video: Colombo International Container Terminals Tissa Wickramasinghe, general manager of Colombo International Container Terminals' marketing and commercial department, explains the strategy behind investments to make Colombo a regional trans-shipment hub.
TPM 2014 Sponsored Video: Port Everglades Port Everglades' CEO and port director Steven Cernak discusses a pilot program for perishables and gives status updates on the port's expansion projects, including possible reason behind the delay of deepening plans.
TPM 2014 Sponsored Video: Norfolk Southern Norfolk Southern's Randy Bayles, director of international intermodal, on what the West Coast labor uncertainty really means, as well as East Coast capacity-adding measures, short-haul intermodal and inland port projects.
Carriers Extract Savings From Bottom Line As Profitability Slumps An aggressive focus on operating efficiency is reflected in the first quarter results of Neptune Orient Lines, Hanjin and Hapag-Lloyd, although the savings were not enough to offset the effects of excess capacity, high bunker prices and weak freight rates that continue to plague the industry.
Phoenix sells handymax Phoenix Bulk Carriers has reportedly sold a handymax bulker for a sizeable gain.
'State of emergency' Ecuador has declared a state of emergency in the Galapagos Islands over the grounding of a cargoship.
TEN aiming to sell and buy Tsakos Energy Navigation (TEN) is looking to sell some of its older tonnage to be replaced by newbuildings purchased in resale deals, an executive said today.
Stavropoulos bids adieu Tsakos Energy Navigation (TEN) chairman John Stavropoulos has used his last conference call with analysts to express dismay at the state of financial reporting by other companies on Wall Street.
PNG LNG loads first cargo A first cargo is being loaded at the ExxonMobil-led new liquefaction start up PNG LNG.
Tidewater extends buyback Tidewater's board has approved a renewed $200m programme to buy back some of the offshore vessel giant's New York-listed shares off the market.
Sending a message We take a look at what was said in the market over the past week.
Rieber earnings soar Norway's GC Rieber Shipping has posted a bigger profit for the first quarter as a loss from associated companies dropped off the balance sheet.
TEN hits four-year high Greece's Tsakos Energy Navigation (TEN) has posted its best quarterly profit for four years as revenue jumped.
TEN snaps up duo Greek owner Tsakos Energy Navigation (TEN) is boosting its crude exposure with a deal for two modern suezmaxes.
Cocaine found on cape UK authorities have seized more than 100kg of cocaine from a Greek bulker in Scotland.
Okean lives again Ukraine's higher economic court has reversed the bankruptcy of shipbuilder Okean.
TT Club escapes Haiyan A surplus of $12m was made by the Through Transport Mutual Insurance Association through last year with a favourable claims climate contributing to the result.
VLCC under the hammer A former Samho Shipping VLCC laid up in the UAE is to be auctioned online.
London Club makes $6.6m The London Steam-Ship Owners' Mutual Insurance Association stayed in the black last year but the surplus of $6.6m was down on the $9.4m of the previous year.
Marenave profit dips German owner Marenave has posted reduced earnings for the first quarter of 2014.
Jutha cuts loss Thai multipurpose owner Jutha Maritime has reduced its net loss in the first quarter as revenue rose.
Steamship rings up $15m Last year has turned out to be a lot better for the Steamship Mutual Underwriting Association than the modest surplus anticipated just a few months ago.
Oaktree eyes Solvtrans Giant US fund Oaktree has launched a takeover offer for Norwegian wellboat owner Solvtrans in its latest shipping move.
Double for Briese German owner Briese Schiffahrts has been linked to a new eco-cargoship order in China.
Tax charge hits Gotland Swedish tanker and ro-pax owner Rederi AB Gotland has posted better 2013 operating results, but tax bills hit the bottom line.
KDM profit chopped Ukraine's KDM Shipping has posted a lower annual profit despite a revenue rise.
Chubu takes LNGC stakes Chubu Electric Power Co has taken over stakes in two LNG carrier-owning company's from NYK and Mitsui OSK Lines (MOL).
IPO timing is right Italian state shipbuilder Fincantieri will be listed by the summer as it seeks a cash injection vital to its future.
Odfjell in new gas tie-up Odfjell is expanding its footprint in the LPG/ethylene sector via a joint venture with two private equity firms.
NileDutch in second tie-up NileDutch and CMA CGM have concluded a vessel sharing agreement (VSA) for services from South America to West Africa.
HMM wide of the mark Hyundai Merchant Marine (HMM) has booked another poor quarter as it scrambles to sell assets in a bid to remain solvent.
The good, bad and the ugly Wan Hai Lines has emerged with the best financial results in the first quarter out of Taiwan's three major liner outfits.
Another two weeks Eagle Bulk Shipping has secured another stay of execution after being given two more weeks to restructure a major credit facility.
KNOP files shelf KNOT Offshore Partners (KNOP) is looking to raise fresh funds according to a financial disclosure to US regulatory authorities.
GAO cites weakness in NASA's export control policies
NY/NJ port reports strong March Cargo volumes were up because of a rebound in March, when 280,519 TEU moved through the port. In January and February, container volumes were off by 0.4 percent and 3.5 percent, year-over-year, respectively.
Op-Ed: Infrastructure investment offers strong ROI On the final day of Infrastructure Week, during which organizations around the nation have held events about modernizing the nation's aging infrastructure, the importance of improving infrastructure can't be overstated.
Gulf of Maine ferry reborn, hopes to attract truckers
Q1 weather helped boost coal volumes for railroads Consumer demand for coal during the first quarter's extreme cold helped ease the blow from a continued downshift in coal exports, Cowen and Company noted. Class I coal activity is up 9.3 percent so far in Q2.
WiseTech Global seeks to build China customer base
SAP releases update to transportation management system
TIGER applications pour into DOT The sixth round of TIGER grants is heavily oversubscribed, with application requests running 15 times above the amount of money available for the competitive program, the U.S. Department of Transportation said.
LA, Long Beach report strong container volumes in April
Executive moves
Marubeni charged with bribing Indonesian officials
U.S. investigates dumping of 53-foot trailers from China
Bunker prices mostly down in Houston Tight avails reported at the US Gulf port.
Weekly Global Market Report A weekly price roundup from bunkering hubs around the world.
BAF calculations based on LSFO need review Some carriers struggling to explain ECA fuel and cost changes to customers.
Japan's bunker volumes fall more sharply than predicted Latest data show March volumes down 6.9% year-on-year.
Prices move little in Fujairah Flat prices seen Suez.
Week end on soft note across Europe Tight avails reported in Rotterdam.
Another jail sentence in 'bunker buy-back' case Bunker scam involved a false declaration of 'over-delivery'.
LNG bunker safety guidelines to be released soon Initial recommendations will follow the next meeting of the Society for Gas as a Marine Fuel.
ECA threatens European 'cross-channel' ferry routes Sulphur limits one factor in longer-term decline.
Panama aims to exploit expanded Canal LNG bunkering facility among projects mooted.
LNG cost benefits 'to continue for decades' 'Natural gas delivered for production of LNG is 50% less expensive than conventional marine fuel', says US maritime official.
Cockett gains ground in Panama legal case Move to restrict sale of vessel accepted by top court.
Week ends with prices showing little movement No issues in supply of marine fuels at major Asian ports on Friday.
Bunker volumes at Indian port could 'triple' Growth will take place over the next three years, Indian bunker conference has been told.
TOTE recognised for pioneering LNG-fuelled ships Firm has been honoured as 'Champion of Change'.
P&I: Conditional survey needed for tankers carrying heavy fuel oil Applicable for tankers aged 10 and above, under certain conditions.
Fuel-saving tool stays the course Programme clocks up five years in the market.
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