California box ports see growth slow in July Los Angeles and Long Beach report increases of 0.25% and 3.7% respectively
Hamburg on course for record year German port reports above average growth for half-year box traffic
Commodity shipping depends on Indian import demand The country will be as critical as China in the battle to find employment for newbuildings
Qingdao port faces lawsuits amid loan fraud probe Cargo interests sue dry bulk terminal as Chinese authorities detain metal products
Molaris-led Product Shipping eyes IPO Backed by AMCI Poseidon Fund and Maas Capital, company starts with 10 tankers
Bank of Communications linked to order for 19,000 teu MSC pair Deal would boost line's ultra-large boxship fleet to 11 and position it to take top spot from Maersk
Gulftainer looks to expand its US footprint beyond Canaveral The UAE terminal operator also hopes to enter the European market
NYK, MOL warned of downgrade risks due to LNG investments Moody's: expansion means high debts and slow deleveraging despite long-term benefits
Demolition buyers bullish despite India's slump Speculation over a fourth-quarter rebound fuels 'astonishing' levels, says GMS
Clarksons profits rise in challenging markets Shipbroker reports a half-year profit of $26m despite stagnant boxes and dry bulk
Three dead after stabbing aboard bulker The US Coast Guard has found the body of a crew member who had apparently jumped overboard from a bulk carrier following a stabbing incident in which two of his shipmates were killed. Early on 15 August the service had responded to a report of a stabbing aboard the Genco-owned 28,428dwt Genco
Fire at Shanghai yard damages VLGC A fire damaged a VLGC under construction at Shanghai Jiangnan Changxing HI, China, yesterday in the second such incident at the yard within five months. The fire broke out at 14.20 on the insulation layer of the VLGC, the Shanghai fire-fighting authorities said yesterday. As many as 19 fire-fighting
ABB lands $30M offshore cable contract Power and automation technology specialist ABB has won the $30M order from DONG Energy to supply a high-voltage export cable system to transmit power from the UK's Burbo Bank Extension offshore wind farm. ABB's project scope includes the design, engineering, supply, and commissioning of 25km of
Hamburg achieves record cargo figures In the first half of the year the Port of Hamburg handled 72.6M tonnes of cargo, up 6.6% year-on-year, while container cargo rose 6.8% to 50.7M tonnes and 4.8M teu. Exports of 2.3M teu and imports of 2.5M teu were described by Port of Hamburg Marketing (PHM) board member Axel Mattern as
Zhejiang Zengzhou wins Handysize quintet Chinese shipbuilder Zhejiang Zengzhou Shipyard has won an order for five Handysize bulkers from America-based finance company Marine Capital. The five 33,200dwt vessels will have an overall length of 179.9m, beam of 30m, and depth of 14.8m. Their delivery is scheduled for October and December 2015
Zhoushan Wuzhou wins PSV and cargo ship Chinese yard Zhoushan Wuzhou Ship Repairing & Building has won orders for a platform supply vessel (PSV) and a deck cargo ship from compatriot shipowner Guangdong Sunrise Shipping. The PSV - with an overall length of 54.5m, beam of 12m, and depth of 5.7m - has been allocated yard number WZ1310. Its
Wärtsilä makes LNG refuelling kit sale Wärtsilä has won a contract to supply equipment for refuelling Harvey Gulf's offshore supply fleet with LNG. The land-based facility - at Port Fourchon, Louisiana, in the US Gulf - will be the region's first such facility for supplying LNG as marine fuel. Harvey Gulf International Marine, which is a
UK firms seek independent transport body UK businesses are frustrated by delays in infrastructure projects that they blame on a lack of long-term planning caused by governments being focused on short-term political goals. The EEF manufacturers association has called for an independent body to be set up to fast-track the UK's most urgent
Ultrabulk cuts outlook on H1 figures Ultrabulk, the Denmark-based dry bulk shipping unit of the Chilean Ultramar group, has cut its full year earnings forecast following a weak first half. Despite increasing its revenues to $471.6M, up from $399.8M in the first half last year, Ultrabulk booked a net loss of $1.1M, down from a $10.4M
Lauritzen tempers forecast on bulk woes J. Lauritzen, the Danish bulk shipping company, has issued a profit warning on continued weakness in dry bulk. Net profit in the first quarter totalled $27.0M, compared with a loss of $238.5M in the same period last year, when an impairment charge of $133M weighed on the bottom line. Revenue for the
HMM posts $9.8M loss for 2Q14 Hyundai Merchant Marine incurred a KRW10Bn ($9.8M) loss for 2Q14, reversing a KRW7Bn profit for the same period last year. HMM revealed that the 2Q14 sales figures decreased 7.62% year on year to KRW1.78Trn. Although HMM recorded an operating loss of KRW29.6Bn, it was better than the same quarter
Ship hits bridge in high winds Wild winds and rain lashing the coast of Western Australia caused two ships to break their moorings on 18 August, with one smashing into a railway bridge. At around 11pm local time, the Panamanian-flagged 58,947gt car carrier Grand Pioneer and Singapore-registered cargo ship AAL Fremantle broke free
Tanker fire kills one A crew member of chemical products tanker Pine Galaxy, which caught fire 700km off the Oregon coast, US, last week, has died. The 20,000dwt tanker left Los Angeles on 9 August bound for South Korea. However, fire occurred at its engine room on 13 August, and was later extinguished by the ship's
South Korea to support shipbuilding industry The South Korean government has pledged to support the country's shipbuilding industry, in co-operation with related governmental agencies. Yoon Sang Jik, South Korean minister of trade, industry and energy, made this pledge after meeting with the top players from the shipbuilding industry.
Brightoil eyes more oilfield acquisitions in China Hong Kong-headquartered marine bunker and transportation service provider, Brightoil Petroleum Holdings, is looking for another major upstream acquisition over the next 12 months. "We are trying to emulate what we have just done," said Bruce Yung, CEO of Brightoil, referring to its completion of
Changhang Phoenix to raise $25M Changhang Phoenix, a listed bulk carrier operating unit of Sinotrans & CSC, would raise at least CNY157M ($25M) by selling shares to repay debts and replenish work capital. The receiver of the company under restructuring will sell about 73M shares in Changhang Phoenix at least CNY2.16 per share, a
India's Modi for port-led development Indian Prime Minister Narendra Modi said that his government would pursue a port-led model of economic development that comprises ports, special economic zones (SEZs), rail, road, air and waterway connectivity with the hinterland. India's 13 ports owned by the central government have so far been
Speculative deals defy shipbreaking slump Notwithstanding the unexpected dive in recycled ship prices in the Indian sub-continent, cash buyers have been offering incredibly high prices in anticipation of market recovery. Prices average $450/lt ldt for bulkers and $480/lt ldt for tankers in India, up $5/lt ldt from the previous week, but
NHTSA advances study of vehicle-to-vehicle technology The U.S. government will study vehicle-to-vehicle communications technology that could form the backbone of future systems aimed at improving passenger car and truck safety. The National Highway Traffic Safety Administration issued an advanced notice of proposed rulemaking that could eventually lead to a mandate for certain V2V technologies in light vehicles. Trucking...
Major forwarder expands at NY-NJ, LA-LB ports Livingston International, a major North American customs broker and forwarder, has further expanded its presence at the New York-New Jersey and Los Angeles-Long Beach port complexes through a recent acquisition. The Toronto-based company's acquisition of FPA Customers Brokers, based in New York, for an undisclosed sum will give it deeper expertise...
Trucking bankruptcies to squeeze US shippers as freight demand rises Company by company, truck by truck, motor carrier bankruptcies threaten to sap freight capacity from an already tight truckload shipping market in the U.S. as freight demand rises. As operating costs such as driver pay rise and federal regulations cut into productivity, hundreds of trucking companies are shutting their doors each...
Anti-Israel protest interrupts work on ship in Oakland Update of earlier report: Demonstrators protesting events in Gaza idled a Zim Integrated Shipping Services vessel at the Port of Oakland on Sunday, and the ship could not be worked on the day shift Monday because the terminal operator could not secure enough labor. Hundreds of anti-Israel protesters gathered at the...
TSA carriers plan rate Sept. 1 rate hike With vessels to the U.S. East Coast filled to capacity, containerized imports to the West Coast also strong, and reports of cargo being left behind in Asia, carriers in the eastbound trans-Pacific plan to increase rates $600 per 40-foot container, effective Sept. 1. The results of trans-Pacific general rate increases year-to-date. Full-size...
70-hour ship arrival delays in northern Europe Cargo is surging at northern European ports, but it's not without consequences. Delays topping 70 hours on arrival at major European ports are being reported amid congestion at Rotterdam, the Netherlands; Antwerp, Belgium; and Hamburg, Germany. From April through May, a report from the logistics technology firm CargoSmart reported the delays...
Canada reviewing transport law to enhance trade flow A statutory review of Canada Transportation Act dovetails with the country's recent success in negotiating free trade agreements with the European Union and South Korea, Transport Minister Lisa Raitt told port officials. "If we are doing all of these trade agreements across the world, we need to make sure we can...
Air shippers watch Iceland volcano as eruption risk rises Shippers transporting goods via freighters and in the bellies of passenger planes flying in the northern European are closely watching an Iceland volcano, as many recall how a 2010 eruption on the island seriously disrupted shipments for days. The Iceland Meteorological office on Monday raised the alert level for Baroarbunga, one...
Stronger east-west rates aren't sustainable, SeaIntel says Despite generally strengthening spot rates in the head-haul east-west trades, the trend is unlikely to last because underlying volatility is growing, especially in the Asia-Europe trade, according to SeaIntel. "Recently, we have seen strong rate increases on the main export trades from Asia to Europe and North America," SeaIntel said in...
The members of the Caribbean Shipowners Association (CSO) have adopted a voluntary guideline calling for the implementation of a 2014 Peak Season Surcharge (PSS). PEAK SEASON SURCHARGE: Effective September 28, 2014 through January 3, 2015: A temporary Peak Season Surcharge (PSS) of $175 per TEU will be applied without exception on southbound cargo to CSO Caribbean basin service destinations. The stress on availability of containers and space to serve exports from the United States is expected...
Shift to big ships in full swing, Drewry says A shift in the composition of the global container ship fleet from smaller ships to fewer but larger ones could result in a decline in the number of vessels on the water this year, the first decrease in 20 years, Drewry Maritime Research said. The number of container ships afloat declined...
Bunker prices decline across the board Nine straight weeks of steady declines in pricing of low-sulfur bunker fuel have brought the price per metric ton down to the lowest levels in more than three years. The price of low-sulfur fuel per metric ton in Rotterdam, the Netherlands, a global indicator of bunker prices, has dropped weekly since...
War on trade In his keynote address at the TPM Conference in Long Beach last March, FedEx Chairman, President and CEO Fred Smith railed away at the protectionist tide rolling through global markets. "The problem is not cyclical," Smith told TPM. "It's systemic, and it's spreading." If the news of the last several weeks...
Ocean carrier rate revision roundup for Aug. 18 Multiple container lines have planned general rate increases in numerous trade lanes in August, although any gains achieved could be fleeting as overcapacity and sluggish global demand continue. Container terminals in gateway ports around the world may not be able to keep up with the ever-increasing sizes of ships because of...
Trucking enters new era of supply chain connectivity The commercial truck is entering a new stage in its hundred-year evolution. What was once a motorized horse wagon is about to become a rolling WiFi hotspot. Increasingly, the truck is a node in an always expanding "Internet of Things," the network of devices of all types - from that Class...
Growing container traffic bolsters Wan Hai earnings Intra-Asia specialist Wan Hai Lines reported a 7.2 percent increase in container volumes in the first half of 2014, pushing revenue up nearly 10 percent as the shipping industry continues to feel the effects of increased demand. The Taiwanese carrier, which generates the bulk of its business on intra-Asia routes, saw...
UASC relocating North America unit to Atlanta United Arab Shipping Co. is moving its North American business unit, United Arab Agencies, from Cranford, New Jersey, to Atlanta. The previously announced move has begun and will continue through September. When fully staffed, the Georgia office will have a staff of 160. UASC will maintain a Northeast sales office in...
Solid China growth gets Kerry Logistics' year 'off to a good start' Kerry Logistics chairman George Yeo and group managing director and executive director William Ma announce the company's results.Kerry Logistics reported an 8 percent increase in net profit for the first half as its integrated logistics segment showed solid growth in China and across ASEAN. Core net profit of the Hong Kong-listed...
Shanghai port seeks bidders for container terminal stake Shanghai International Port (Group) is calling for tenders as it prepares to offload a 20 percent stake in a container terminal joint venture with Hutchison Port Holdings (HPH). SIPG holds a 50 percent equity interest in the deep-water Shanghai Mingdong Container Terminal, and HPH owns the other half. The 20 percent...
Indian trade deficit expands on slowing exports India's trade deficit in July rose to its highest level in a year as export growth weakened slightly after rising in the double digits for two consecutive months. India's exports expanded 7.3 percent year-over-year in July, and imports increased 4.3 percent. Full-size chart Exports in July expanded 7.3 percent from a year earlier...
Iberia abandons shipping A boutique US investment bank appears to have pulled the plug on a campaign to expand its presence in the shipping industry.
All eyes on AP Moller AP Moller-Maersk (Maersk) has secured a well-timed endorsement from an equity analyst at a leading investment bank.
GasLog loses appeal A leading European investment bank is no longer encouraging investors to accumulate shares of GasLog.
Evercore slashes GASS A leading equity analyst has downgraded shares of StealthGas, a Greek LPG-carrier operator led by chief executive Harry Vafias.
Pareto JGO in takeover Pareto JGO Shipbrokers has taken over Derrick Offshore in a deal that sees it strengthen its presence in the specialist offshore market.
Second fire hits Avance VLGCs Avance Gas has seen a second VLGC newbuilding hit by a fire while under construction at Jiangnan shipyard in China.
GSL wins discount New York-listed Global Ship Lease (GSL) is buying back its A-series preferred shares from CMA CGM at a discount.
Legal troubles for Varun Standard Chartered has sued Varun Shipping chairman and managing director Yudhishthir Khatau for $5.2m over a loan default in Singapore.
Scorpio adds another US-listed Scorpio Tankers has added another MR newbuilding to its fleet with a resale deal in Korea.
StealthGas guides for less StealthGas has warned its second quarter profit will come up short of what analysts had predicted.
Farstad on the rise Norway's Farstad Shipping has improved its net profit in the second quarter by clinching contract deals and expanding its activities beyond the North Sea.
Bergen bows out Norway's Bergen Group has sold its final holding in its former shipbuilding division to Ukraine's Zaliv Shipyard.
Sealink profit slips Malaysia's Sealink International saw its second quarter earnings fall.
Scrap cash for Yang Ming Yang Ming is believed to have collected almost $10m from its latest boxship demolition deal.
Outremer adds duo Zurich-based Suisse-Outremer has followed up a double tanker order in China in January with two more vessels.
Markets disappoint Eidesvik Eidesvik Offshore bemoaned a weaker than projected performance from its core markets as it reported a slip in second quarter profitability.
More money for Suez Egyptian finance minister Hany Kadry Dimian says revenue from the expanded Suez Canal will reach more than $13bn within four years.
Giant overweight One of Wall Street's most respected shipping analysts has taken up coverage of transformed owner Star Bulk with a favourable view on the stock.
Goldwin goes for trio Hong Kong's Goldwin Shipping has contracted up to three new MR tankers in China.
Wan Hai's outlook stable Taiwanese owner Wan Hai Lines' improved financial results for the first half of 2014 have supported its Ba3 corporate family rating and its B1 unsecured bond rating, says Moody's.
Yang Ming in black Taiwanese container line Yang Ming has returned to profit in the second quarter as revenue edged ahead of costs.
Smaller brokers squeezed Clarksons believes it is becoming increasingly difficult for smaller shipbroking companies to compete in the market.
Vessel leaks fuel Three lifeboats were launched in order to aid a Danish support vessel which received some damage and leaked fuel into the sea while at anchor off Walney Island, UK, on Thursday.
ECB gets tough The European Central Bank (ECB) is hardening its stance on how shipping loans should be valued as part of its review into the continent's banking sector.
ESL on the rise Finland's ESL Shipping saw its operating profit grow in the second quarter of 2014.
Clarksons posts strong profit Profit from every division has pushed Clarksons to a strong first half performance.
Honghua lands six Chinese shipbuilder Honghua Offshore has announced a "significant" new order for six ships.
Dof wins Asia deals Norway's Dof Subsea has won contracts for offshore support ships in Asia and the Atlantic worth NOK 830m ($135m).
Fremantle bash up Damage is reportedly minimal after the Columbia Shipmanagement Singapore-controlled AAL Fremantle (built 2011) broke free from its moorings during high winds in the Australian port of Fremantle last night.
Tanker blaze kills one One crew member has now been confirmed dead as a result of the engine room fire on board Tokyo Marine Asia's 20,000-dwt chemical tanker Pine Galaxy (built 2004).
Death off Delaware Two sailors have died and another is seriously injured after a stabbing incident on board a Genco bulk carrier over the weekend.
Flat growth at Port of Los Angeles in July Inbound containers were 363,394 TEU, down about 2 percent from July 2013; outbound containers were 163,295 TEU, up 4 percent; and empties were 190,719 TEU, up 2 percent.
Two die in Union Pacific crash After the crash, which occurred Sunday morning, a fire erupted from one of the train engines, but the police said it wasn't threatening the train's cargo. Area residents had been evacuated, but most returned to their homes at around midday.
DOJ adds money laundering to FedEx charges A grand jury in San Francisco had handed down an indictment in July for conspiracy to traffic in controlled substances and mis-branded drugs, stemming from FedEx's alleged practice of illegally shipping Internet pharmacy orders.
Drewry: Trend toward fewer, but bigger, containerships
Port Canaveral confident Gulftainer deal will pass U.S. security review
Globe Tracker and reefer monitoring specialist partner on reefer visibility tool
Zim Line targeted in Oakland demonstration
Chit Chat, BCS join on logistics training and job placement Recently formed Chit Chat offers classes in general logistics education, as well as detailed topics such as air export, ships and shipping, customs brokerage, and Incoterms.
Turkish pharmaceutical shipper charged in cancer-drug smuggling
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