DB Schenker expands in Africa German freight forwarding and logistics giant DB Schenker is stepping its activies in Africa with the launch of new branches in Angola and Mozambique. Effective 1 June, the group took over its previous agency partner in Angola, Bochimar Lda, DB Schenker announced today. Together with Bochimar, the
Sulphur directive: owners call for 'pragmatism' Six months before the European Sulphur Directive comes into force, European shipowners have published an open letter to the European Commission calling for a "fair, realistic, and harmonised implementation". The directive, which comes into force from January 2015, requires ships sailing in the
Umea and Vaasa form joint port company The Swedish city of Umea and Vaasa in Finland have decided to merge their ports by forming a new limited liability company called Kvarkenhamnar AB, the Umea city council said in a statement. The new company will be jointly owned by the two cities. It will operate the ports in Vaasa and Holmsund
Jiangsu Haitong wins six ultramax order Chinese shipbuilder Jiangsu Haitong Offshore Engineering has won an order for up to six ultramax bulkers from London-based Greek owner Victoria Steamship. The three firm 64,000dwt vessels will have an overall length of 199.9m, beam 32.26, depth 18.5m and are scheduled for delivery in August 2015,
Norcap Offshore cancels IPO Nordcap Offshore, the Lichtenstein domiciled offshore services vessel owner, says it has cancelled a planned IPO on the Oslo stock market. The company had planned to raise about NK1.21Bn ($202M) in equity by offering 48M shares at a price of NK25 each on the Oslo Axess market, which targets medium
Imports drive LA-LB box business in May Box business at the United States largest container port complex grew 5.6% in May driven primarily by Asian imports as retailers begin ramping up inventory for the peak shipping season. Import volume at the ports of Los Angeles (LA) and Long Beach increased a combined 5.1% to 663,842teu for the
Canada approves oil pipeline The Canadian Government on 17 June 2014 approved the construction of a 1,177km twin pipeline that will carry heavy oil from the Alberta Oilsands to the small port of Kitimat, British Columbia, on Canada's west coast. The approval for the CAD7.9 billion (USD7.3 billion) project came with 209
Seychelles expands Port Victoria Seychelles President James Michel on 17 June formally opened a new quay designed to maximise revenue from the 'Blue Economy'. The 120m quay is part of a new development at Ile du Port, a reclaimed island at Port Victoria. The European Union-financed facility will be able to accept vessels up to
China's CNOOC signs LNG deals with BP and Shell China National Offshore Oil Corporation (CNOOC) announced last night that it had inked two LNG deals with oil giants BP and Shell. BP will supply 1.5M tonnes of LNG per year to CNOOC for 20 years beginning 2019, stated CNOOC. The contract with BP values $20Bn, BP Chief Executive Bob Dudley said at a
Yangzijiang secures Fortescue Metals' VLOCs order Singapore-listed Chinese shipbuilder Yangzijiang Shipbuilding said today it has clinched Fortescue Metals' four very large ore carriers order. Fortescue Metals Group, Australia's third biggest iron ore miner, had said on Monday that it would build four VLOCs to lower freight costs, citing better
Supramax freight market still weak The Supramax freight market continues to grapple with unprofitable rates as a dearth of cargoes continues to drag the sector down. One South Korean broker told IHS Maritime how hard it is to find business for his clients' ships. "I'm idle most of the time as it's so hard to find employment for my
China explains P3 rejection China's Ministry of Commerce has confirmed its rejection of the P3 application. The P3 was to be an operational alliance made of three leading global container shipping companies, Maersk Line, MSC and CMA-CGM.
Pirates abort attack due to 'unwanted' cargo A group of pirates abandoned their plan to hijack a ship because the vessel's cargo was not what they were after, revealed anti-piracy body ReCAAP ISC's May report. The report stated that on 25 May, eight armed pirates boarded the 4,147dwt asphalt/bitumen carrier New Glory via its port side from a
TT Club highlights preventable accidents in ports Freight transport insurer TT Club said that many accidents in ports can be prevented, based on analysis of the claims it handled. The club's historic claims data has shown that 68% of the cost of claims results from incidents of an operational nature within the port or terminal and a further 14%
Carriers tap intra-Asia growth Cargo growth on intra-Asia routes is attracting deep-sea carriers due to the availability of cheap charter vessels and economies of scale between China and Southeast Asia. Recent examples include Maersk-owned MCC Transport/NYK's weekly Japan-China-Thailand schedule calling at Tokyo, Yokohama,
Chinese firm eyes shipbuilding in Zhoushan China Ocean Shipbuilding Industry Group has teamed up with Zhoushan Marine Comprehensive Development and Investment (ZMCDI) to jointly develop the shipbuilding business of Zhoushan, Zhejiang Province. According to a strategic cooperation agreement, the company expressed interest to participate in
Nanjing Changjiang profit rose in Jan-May Nanjing Changjiang Oil Shipping, the parent company of recently delisted Nanjing Tanker, said its gross profits rose 32% year-on-year (y/y) to CNY7.4M ($1.2M) in the first five months in 2014 due to improvement of its non-shipping businesses. Revenues also increased 17% y/y to CNY1.3Bn during the
SapuraKencana wins drilling contracts worth $700M Malaysian drilling company SapuraKencana Petroleum has won three new contracts and a contract extension worth a total of $700M. First, its subsidiary Petcon (Malaysia) Sdn Bhd, won two contracts by Petronas Carigali for the provision of its tender assist drilling rigs, namely SKD T-9 and SKD T-10.
FedEx looks to dimensional weight pricing to expand capacity The move to dimensional weight pricing should have a positive impact on Fed Ex, executives with the shipping giant emphasized on the company's fourth quarter earnings call. CEO Fred Smith and CFO Alan B. Graf and Mike Glenn, CEO of FedEx Services, spoke during an hour-long earning call with investors and...
Bipartisan Senate duo pitch US fuels tax hike WASHINGTON - With few short-term solutions available to solve the nation's highway funding crisis, some in Congress are willing to back raising and indexing the federal fuels tax to inflation despite the political risks. Sens. Chris Murphy, D-Conn., and Bob Corker, R-Tenn., today pitched a plan to raise the fuels taxes...
Widdows: P3 collapse good for carrier competition Ron Widdows at the JOC's TPM Conference in Long Beach in March 2014. "The world changed in the last 24 hours with the collapse of the planned P3 Network," Ron Widdows told the Marine Money Week conference in New York today. The former CEO of Rickmers Group and of NOL said China's...
Drewry: Hong Kong-Los Angeles spot rate sinks to two-year low The Drewry benchmark rate for shipping from Hong Kong to Los Angeles has fallen to its lowest level since December 2011. Full-size chart The downward trend in Drewry's benchmark spot rate from Hong Kong to Los Angeles continued this week, as the rate per 40-foot container dropped below $1,700 for the first...
China Shippers' Association applauds P3 rejection China Shippers' Association today said it welcomes the "very correct and wise" decision by China's Ministry of Commerce to ban the formation of the P3 Network comprising the world's three largest container lines. The Chinese Ministry of Commerce, known as MOFCOM, yesterday shocked the maritime industry with its rejection of the...
Expedited trucker Bolt speeds growth by acquisition Bolt Holdings is aptly named. The multimodal transportation company has bolted since the recession, making the Inc. 5000 list of fastest-growing U.S. companies for three straight years. Since 2009, the Toledo, Ohio company has increased revenue 164 percent to $49 million, according to the 2013 Inc. listing. The holding company gave...
Former FMCSA chief blasts truck critics for 'political opportunism' WASHINGTON - A former head of the Federal Motor Carrier Safety Administration has blasted truck critics for "political opportunism" in falsely implying a recent high-profile truck accident is tied to an effort to rollback a new federal rules for truck drivers. Annette Sandberg also said truck industry critics have used highly...
Hamburg Süd eyes cost cuts, South American expansion Hamburg Süd said it will focus on further cost cuts and expansion of its core routes to and from South America through 2014 after last year's decline in revenue and modest increase in container traffic. Germany's second-largest container shipping line also is weighing its options following the failure of merger talks...
US freight sector told: Prepare for banner year WASHINGTON - The U.S. freight industry will have a banner year in 2014, having already seen some of the strongest freight growth since the end of the Great Recession, a transportation analyst said Tuesday. Although general U.S. economic growth was lackluster in the first five months because of severe weather and...
Ports in Asia consider impact of P3 rejection Asian ports are still digesting the ramifications of China's unexpected decision yesterday to reject the P3 Network application, putting the kibosh on a vessel-sharing agreement between Maersk Line, MSC and CMA CGM that was set to dominate the container shipping industry. Most terminal executives declined to comment while they searched for...
The P3 Network from beginning to end [Slideshow] June 18, 2013 Maersk Line, Mediterranean Shipping Co. and CMA CGM announce plans to form a long-term alliance on east-west trades. The P3 Network is designed to operate a fleet of 255 ships totaling 2.6 million 20-foot-equivalent units of capacity on 29 service loops on the Asia-Europe, trans-Pacific and trans-Atlantic. The...
Hapag-Lloyd to reorganize West Africa services Hapag-Lloyd has plans to restructure its West Africa service network, including its West Africa Service and West Africa Mediterranean Express, in June and July. At the end of June, the carrier will merge both WAX and WMX products into a single service by directly calling at the port of Apapa in...
China's Ministry of Commerce explains P3 rejection In a statement published on its website rejecting the proposed P3 Network of Maersk Line, Mediterranean Shipping Co. and CMA CGM, the Chinese Ministry of Commerce, known as MOFCOM, said the proposed alliance would be anti-competitive and not supportive of the "social public interest." The head of the MOFCOM antitrust division...
US reaction to P3 decision: 'We're all guessing' U.S. shippers and port officials are still digesting the news of China's rejection of the P3 alliance of the three largest container ship lines, and are wondering what happens next. "It's too early to say whether it's good, bad or indifferent. We'll have to let the dust settle to see how...
Merger mania? More deals between private equity and existing public companies are bound to happen as the investment firms look to exit their plays in shipping, a veteran investment banker counsels.
The Pappas premium Oaktree Capital and partner Petros Pappas appear to have pulled off the neat trick of selling ships to investors at an effective premium to their net asset value (NAV) with this week's combination between their private OceanBulk and public Star Bulk.
New China steel record Average daily crude steel production in China hit a record high in the first 10 days of June, a data point that is encouraging for the iron ore demand that fuels the capesize bulker trade, an analyst said today.
Shock and awe Turbulence in the containership segment is unlikely to end anytime soon, according to industry veteran Ronald Widdows.
Avance Gas readies bid Avance Gas has not abandoned plans to pursue a merger with US compatriot Dorian LPG, a top executive said Wednesday.
Back to basics Some of the industry's brightest stars took centre stage at the Marine Money Week conference in New York Wednesday where attendees were schooled about the evolution of ship finance.
Second tug heads to stricken LNG ship A tug is helping keep a drifting LNG regasification vessel in position off the Indian coastline after the ship suffered an engine-room fire and subsequent propulsion failure.
RMT on the attack The UK's RMT is pressing the government to look into what it calls the exploitation of crew on a Seatruck ro-ro chartered to Scottish line CalMac.
NewLead seals debt deal Nasdaq-listed NewLead has completed a debt-for-equity swap that will allow it to finance a newbuilding and a mining venture.
New $1bn Star upgraded Pareto Securities has upgraded Star Bulk in the wake of a merger with Oceanbulk that turned the Nasdaq-quoted owner into a $1bn company.
P3 flop good for lessors China's refusal to back huge alliance is positive for listed boxship companies, Stifel says.
Navios crewman hurt A crewman has been injured in a fall on a Navios bulker in Los Angeles.
Yudean selling notes China's Guangdong Yudean Shipping is looking to raise CNY 300m ($48m) through selling short-term notes.
Austral eyes newbuilds Peruvian fish producer Austral Group is planning to spend $84m on renewing its cargoship fleet.
Fesco adds terminal Russian container line Fesco has acquired a new container terminal in Novosibirsk.
Judgement awaited A London high court appeal hearing into Russian shipowner Yuri Nikitin's fraudulent charter deals with SCF Group-owned Novoship has ended with no decision.
Tug and barge missing A tug and barge have been reported missing off Malaysia, raising fears of a hijacking.
US fund buys more Essar Royal Bank of Scotland (RBS) has sold out of India's Essar Shipping as a US fund builds its stake.
Gas double for Hide Japanese shipbuilder Murakami Hide has won two separate deals for LPG ships.
Nordcap cancels IPO Nordcap Offshore has cancelled plans for an initial public offering (IPO) in Oslo, the company disclosed Wednesday.
Novatek buys into yard Russian gas producer Novatek is taking a stake in new shipyard Zvezda in a signal that LNG carriers could be built there for the Yamal project.
More cash for Epic Epic Gas has secured a term loan facility of $32m to help finance the construction of three newbuildings.
Baja closing in Mexican ferry owner Baja Ferries is hoping to complete a takeover of France's SNCM before the end of 2014.
Victoria in ultra splash Victoria Steamship of the UK has been linked to a big new ultramax order in China.
LNGRV adrift off India An Exmar-managed LNG regasification vessel carrier is reported to be adrift and without power in the Arabian Sea.
YZJ behind FMG VLOCs Yangzijiang Shipbuilding has emerged as the shipyard behind Fortescue Metals Group's recent order for four VLOCs.
California volumes mixed The US ports of Los Angeles and Long Beach have reported contrasting container throughput figures for May.
Jan Krems to take over at United Cargo United Cargo has named Jan Krems, former vice president of the Americas for Air France/KLM/Martinair cargo, as its new president, replacing the recently departed Robbie Anderson, according to a spokeswoman for United Airlines.
Asian Shippers applaud denial of P3 Asian shippers groups said they were pleased with the decision on Tuesday by China's Ministry of Commerce to block formation of the P3 Network, a global vessel-sharing alliance set to commence on the major east-west shipping corridors.
Jacksonville begins harbor-deepening project
UP enhances Chicago intermodal services
Commentary: The rejection heard 'round the shipping world
U.S. logistics spend increased slowly in 2013 Spending on freight transportation and logistics services grew more slowly in 2013, reflecting weaker shipment volumes and flat rates associated with a sluggish economy, rather than any gains in business efficiency, according to a report.
Paulsen emphasizes importance of trade promotion authority
Van spot rates near record high Average van spot rates continued to rise during the second week of June, finishing the period at $2.07 per mile, just a few cents off the record high of $2.10 per mile seen in March, according to DAT Trendlines.
ITC investigates global rice trade
U.S. firms urged to reconsider domestic manufacturing Companies "are finding that the total cost of production and other expenses related to manufacturing abroad can carry costs and risks that outweigh the benefits, and are considering domestic operations," Commerce Secretary Pritzker said.
Executive moves
Hong Kong expands market for U.S. beef Hong Kong will permit the import of the full range of U.S. beef and beef products, consistent with access prior to the end of 2003. Previously, only deboned beef and certain bone-in beef from young cattle could be shipped to Hong Kong.
Fuel levy the only acceptable market-based measure, says ICS Organisation restates position favouring global rules on cutting CO2 emissions.
Mid-week prices firm across Europe MGO at Rotterdam made double digit gains.
New engine unit from Caterpillar Major transmission parts accessible from inside vessel.
ICS: Efficiency is about survival High fuel costs and low freight rates driving efforts towards higher efficiency.
Avails tight in Fujairah Suez market firming.
Fatal refinery fire will cut Russian fuel oil exports Repairs at Achinsk refinery could take six months.
Pirate attacks in South East Asia 'to worsen' 'The black market for MGO is extremely lucrative,' says security expert.
Esca seeks 'harmony' on ECA compliance European shipowners write open letter to EU.
Port official responds to Indian pollution directive No control over oily waste being dumped at sea, says port Chairman.
Campaign to delay full ECA enforcement gathers pace Industry players call for 'flexibility' to allow a wider take-up of scrubber technology.
Maersk 'most to lose' from P3 collapse, say analysts Bunker savings part of that picture.
Bunker prices firm in Singapore, Hong Kong Meanwhile, Busan's supplies are being affected by a strike in Yeosu.
Current emission solutions 'lock in high carbon behaviour' Climate change academics call for radical measures and say LNG, scrubbers and low sulphur distillates all fail to reduce shipping's CO2 emissions.
Chinese giant to build VLOC quartet Client is an Australian miner.
Glander International Bunkering expands Dubai ops Firm adds bunker and lubricant trader in Middle East.
BIMCO: Progress made on Standard Bunker Contract Input from its Documentary Committee and the Singapore Shipping Association considered.
LR issues reminder on ECA fuel change-overs If in doubt, get in touch, says society.
ABB secures propulsion contract To power up to 31 LNG carriers under Russian megaproject.
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