Total and China poised to sign $21bn LNG deal Ambitious French energy giant and China are perfect match
UK Chamber criticises MCA Regulator needs to be more commercial, says incoming president
Hoegh car carrier joins search for missing Malaysian plane Vessel diverted after debris spotted
VLGC earnings spike ensures investment in market stays buoyant Spot rates highest since last summer and closing in on all-time high
Transpac lines advance rate increase ahead of contract signings Carriers push for higher spot rates as benchmark for 12-month agreements
Søren Skou elected Box Club chairman Maersk Line chief chosen by peers at Dubai meeting
TOP Ships acquires five more newbuilds from Pistiolis Rebooted fleet of public owner all covered with medium term charters
Obituary: Dierk Lindemann Key architect of Maritime Labour Convention
Owners monitoring CO2 and fuel use claim commercial advantages As Europe develops mandatory MRV for shipping, shipowners with bespoke systems point to benefits
Zeeland Seaports appoints interim chief executive Jan Lagasse to replace Hans van der Hart
Aker Philadelphia shipyard raises $4.4m after targeting $9m Yard did not expect share offering to be fully subscribed
Cosco International reports 33% decline in profits Shipping services outfit blames slowdown in newbuild deliveries and customers' cost-cutting
DP World 2013 revenue slips Ports group cites tough market conditions and capacity constraints in key locations
Wild ride for embattled Genco Shares of Peter Georgiopoulos-chaired Genco plunged on bankruptcy fears and then surged back up on news that a bond interest payment was made at the last moment
Teekay spin-off to focus on second-hand ships Tanker Investments, the Teekay group spin-off that will focus on second-hand tonnage, says it has completed book building ahead of listing of its shares on the Oslo Stock Exchange
DP World records flat trading year DP World posted flat financial results for 2013, the company announced today
Car carrier hunts for missing Malaysia plane A Norwegian car carrier has joined in the search for the missing Malaysian flight MH370 off Australia's western coast, the ship's owner confirmed today
Bad weather hampers Australia plane 'debris' search Australian search and rescue teams have so far been unable to find debris that could be from missing Malaysian flight MH370 due to rain and poor visibility
Kandla Port scraps tender for container terminal Kandla Port, India's biggest state-owned major port, has scrapped the tender for a mega container terminal at Tuna-Tekra, and is reducing the scale of it to attract global bidders
VLCC rates flat as fixtures slow down Spot freight rates for VLCC tankers have remained flat as the number of fixtures is on a downward path, according to ship broker Fearnley
Chinese ships begin new MH370 hunt Chinese vessels set out for new search areas on Wednesday to hunt for the missing Malaysia Airlines jetliner MH370
UK maritime sector welcomes budget The UK shipping industry has welcomed the measures proposed by chancellor George Osborne as he revealed details yesterday of the 2014 budget, describing it as "an export-led budget for an export-led recovery"
KR releases hull analysis software Class society Korean Register has released software SeaTrust-HullScan to help shipbuilders and designers analyse and appraise a vessel's hull structure so it can comply with the new harmonised common structural rules
FMC Approves P3 But With Tighter Monitoring Conditions WASHINGTON - The U.S. Federal Maritime Commission today voted 4-to-1 to allow the P3 Network to set sail in the second quarter and vowed to create new reporting requirements to monitor the vessel-sharing agreement involving the three largest global container lines. Commissioner Richard Lidinsky gave the sole dissenting vote against the...
DP World Hikes Profit as Revenue, Volume Dip DP World posted a 10.9 percent increase in net profit in 2013 as it focused on fast-growing emerging markets, but revenue and container volume declined on capacity constraints, asset disposals and tough market conditions. The Dubai-based global terminal operator's net profit grew to $603 million from $545 million in 2012 on...
Union Pacific Corporation Elects David B. Dillon to Board of Directors, Names CEO Jack Koraleski Chairman Union Pacific Corporation today announced that David B. Dillon has been elected to the company's board of directors, effective immediately. The board also voted to elect the company's chief executive officer Jack Koraleski, chairman of the board. Dillon, 62, is the chairman of The Kroger Co., based in Cincinnati, Ohio. Kroger...
Employee-Driver Bill Reintroduced in NJ A bill to reclassify drayage and parcel delivery drivers as company employees instead of independent contractors has been reintroduced in the New Jersey Legislature. The bill is similar to one that Gov. Chris Christie vetoed last year. The Teamsters union contends that most owner-operators at U.S. seaports are misclassified as independent...
APM Terminals to Launch Trucker Appointment System in LA APM Terminals in Los Angeles on April 7 will roll out a trucker appointment system that the manager of Southern California's largest container terminal believes will speed up turn times in the harbor. "This thing works," said Alan McCorkle, senior vice president of the 440-acre terminal at the Port of Los...
Inland Waterways Bill to Help US Exporters But Extent Unclear WASHINGTON - The federal government is on track to free up trust fund dollars for inland waterway improvements other than a long-delayed, grossly over-budget project that has soaked up much needed funding. Freeing up money for work other than the Olmsted locks and dam project would help shippers and barge companies...
CSAV, Hapag-Lloyd Merger Set to Move Forward Shareholders of Chilean ocean carrier CSAV are expected to approve tomorrow a possible merger with Hapag-Lloyd that would create the world's fourth largest container shipping line. The merger moved forward earlier in the week when CSAV bondholders agreed to a change of covenants to allow the CSAV group to sell its...
Back-to-Work Order Planned for Striking Vancouver Truckers TSI DeltaportWith few signs of striking truckers and Port Metro Vancouver reaching a deal, the provincial government of British Columbia said it will introduce back-to-work legislation as soon as March 24. The 90-day cooling off period would only affect the 250 union drivers belonging to Unifor, and not members of the...
Vancouver Port Turns Up the Heat on Striking Truckers In an effort to turn up the heat on striking truckers, Port Metro Vancouver has announced it will not renew port-issued licenses and permits that are set to expire soon, and will issue new ones only to those truckers who return to work today. "I cannot imagine why we would issue...
Taking a Tough Line on LTL Q: You've written before about consignees who reject deliveries of truckloads that were sealed because the seals were breached. We're a less-than-truckload motor carrier, and your articles made me think of some issues we are having with shippers who ship containers, shrink wrap and other various products used in food...
Video From TPM: Voxx's Sea-Truck Program Cuts Transit Time Electronics manufacturer Voxx International through its Sea-Truck program has successfully eliminated virtually all air freight and millions in cost from its supply chain. It has adapted a combination of ocean freight and trucking via team drivers who race across the country almost nonstop from the Port of Seattle to distribution centers...
Grain drain in South America Delayed soya bean exports from Argentina to China will lend a boost to the dry-bulk market when they finally hit the water later this year, Safe Bulkers' chief executive said.
Diamond not in rough Diamond S Shipping feels no compulsion to make a next move after seeing its New York IPO fall short earlier this month, its billionaire backer insisted today.
Genco dodges bullet Shares of Genco Shipping & Trading soared in after hours trading Thursday after alerting investors that it has coughed up cash to cover a lapsed bond payment.
Uncertainty haunts Genco Wall Street appears to be growing increasingly concerned about the future of Genco Shipping & Trading (Genco).
Duo sweet on YZJ DMG & Partners has raised its outlook on Yangzijiang Shipbuilding (YZJ) after the Chinese company revealed it will pay a lower tax rate over the next three years.
BG in LNG warning UK stocklisted BG Group says the LNG industry is in a period of "supply hiatus" as new production coming onstream plateaus while demand rises in Asia and Latin America.
Ukraine on the brain The crisis in Crimea is unlikely to have a significant near-term impact on the US shipping industry or the nation's LNG market, according to the head of the US Maritime Administration.
Navig8 catches VL leaders Navig8 has propelled itself into the VLCC big league after its second newbuilding swoop in the sector.
DP World earnings soar Dubai port operator DP World has posted a 26.6% increase in earnings for 2013 as revenue rose.
Dof firms Gulf grip Dof Subsea of Norway has beefed up its presence in the US Gulf of Mexico with another Jones Act compliant subsea vessel.
Paraskevi being shifted A grounded Greek bulker is ready to be refloated in the Parana river in Argentina after going aground on 10 March.
Navig8 bags VL sextet Navig8 Crude Tankers has raided the Norwegian OTC market for $245m in fresh equity to back expansion of its VLCC fleet, the owner confirms today.
Hoegh joins MH370 search A Hoegh Autoliners car carrier is playing a vital role in searching a remote sea area where debris from a missing Malaysian airline may have gone down.
Criminalisation legacy lingers A disturbing trend toward criminalisation of maritime accidents and violations continues to threaten shipping 25 years after the Exxon Valdez disaster, a prominent defence lawyer says.
Man of steel Robert Bugbee has been crowned commodore of the Connecticut Maritime Association (CMA).
Fincantieri's profit surges Fincantieri has reported a huge leap in profit last year as revenue jumped following its majority purchase of Norwegian offshore vessels builder Vard.
VLGC rates racing VLGC rates are running hot just as two of the world's four largest owners in the sector are pressing ahead with initial public offerings (IPOs).
Siem tapping bond market Shipowner Siem Offshore is considering launching a sale of bonds in the Oslo market.
Cosco in $312m order China Cosco has continued its newbuilding momentum with a $312m deal for eight new dry cargo vessels.
Aker Philly comes up short Aker Philadelphia Shipyard has sold just less than 50% of its subsequent share offering, raising $4.4m.
Viking axes Backman Viking Line has fired chief executive Mikael Backman and replaced him with company veteran Jan Hanses.
MSC signs for cruise duo MSC Cruises has put pen to paper on a new cruiseship order worth up to EUR 3bn ($4.13bn) at STX France.
Gulf Nav takes $60m hit Gulf Navigation has made a loss provision of over $60m after coming off second best in an arbitration dispute related to a pair of cancelled VLCCs in China.
Gard sues IOPC Funds A conflict between the Gard marine insurance group and the International Oil Pollution Compensation (IOPC) Funds is set to be fought in a London court more than 17 years after the tanker spill at the heart of the dispute.
Top Ships adds four more Greece's Top Ships is continuing its fleet rebuilding by snapping up four more new MRs due from Hyundai Mipo through to 2016.
Pantheon adding aframax Pantheon Tankers of Greece is adding to its aframax tally and is close to buying the 110,300-dwt Mare Italicum (built 2007).
TIL hits the top Teekay spin-off Tanker Investments Ltd (TIL) has raked in $175m from its upsized Oslo initial public offering (IPO).
RABT prepares sale Swedish shipowner Rederi AB TransAtlantic (RABT) will get the ball rolling on its proposed SEK 150m ($23.4m) equity offering within the next month.
Braemar sells US unit UK broker Braemar Shipping Services has offloaded its US technical services company Casbarian.
Kherson in the red Ukraine's Kherson Shipyard has posted a loss of UAH 53.37m ($5.26m) for 2013.
Yard workers hole ferry A Washington State Ferries (WSF) ship sprang a leak after shipyard workers accidentally drilled a hole in its hull.
Nova Star starts in May A new ro-pax service between the US and Canada will be up and running in May, two weeks later than originally planned.
Vallianz eyes fresh funds Vallianz, the Singapore offshore vessel operator, is looking to raise fresh capital to fund the next stage of its expansion.
Bulk Peace arrested Shagang Shipping has had a HNA Group controlled capesize bulker arrested in Australia over a long running charter dispute.
John I heads for Argnetia Salvors have begun to tow a disabled supramax bulker that ran aground of Canada to safer waters for further assessment.
Ban to hurt Indonesia Indonesia's trade and government revenue will be hit by the ban on mineral ore exports, the World Bank has said.
NYK to stop providing chassis in Calif. NYK said that starting May 1, it will no longer provide chassis at marine, truck depot and intermodal rail facilities in Long Beach, Calif.; Los Angeles; San Diego, Calif.; and Phoenix, Ariz.
Global Ship Lease sees opportunity in smaller ships The container ship charter Global Ship Lease said a new capital structure it is creating will allow it to take advantage of opportunities to grow and possibly pay dividends to shareholders.
Ga. approves additional $35M for Savannah deepening Georgia's state legislature has approved Gov. Nathan Deal's proposal for $35 million in additional dredging funds for the Savannah Harbor Expansion Project. Georgia has now allocated $266 million, meeting the state's portion for the project.
British Columbia seeks cooling-off period to end trucker strike
Port Canaveral awaits first ship-to-shore cranes
FMC accepting electronic payments
Barge company joins EPA's SmartWay program
City celebrates first Uruguayan lamb meat shipment since 2001
Electronics distributor chooses LLamasoft for supply chain software
TSA plans April rate increase
NEWSFLASH: FMC allows P3 Network to move forward The U.S. Federal Maritime Commission said its members voted not to block the P3 Network that Maersk, Mediterranean Shipping Co., and CMA CGM plan to start later this year.
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