Jaccar Holdings bids for Bourbon Jacques de Chateauvieux-led investment company Jaccar Holdings will launch its bid for control of listed French offshore vessel operator Bourbon today. The offer, first announced on 17 March, is set to run until 23 June and hinges on whether Luxembourg-based Jaccar can increase its existing 26%
Braemar and ACM outline merger plans Shipping service companies Braemar and ACM have today confirmed they are merging. The merged companies, to be branded Braemar ACM" with comprise of approximately 420 brokers worldwide and is expected to be up and running by the end of July. The merger will be a "great fit" providing many new
ZIM strikes $3Bn restructuring deal ZIM Integrated Shipping Services has finalised the terms of its $3Bn financial restructuring plan, including a $1.4Bn debt equity conversion with its creditors, after complex and protracted negotiations. The Israeli container shipping company, owned by the industrial holding company Israel
U-Ming's Q1 income soars Taiwan's U-Ming Marine Transport, a bulk shipper and member of the Far Eastern Group, has announced TWD360.39M ($12M) in net income over the first quarter of 2014, up more than 80% from TWD197.54M in the same quarter of 2013. Higher freight rates during the past two quarters triggered the surge in
Tsuneishi secures Santoku Senpaku options Tsuneishi Group (Zhoushan) Shipbuilding has clinched an order for two Kamsarmax bulker options from returning family-owned Japanese shipowner and operator Santoku Senpaku. The two 81,552dwt 'eco' bulkers - each with an overall length of 229m, beam 32.26m, depth 20m, and draught 14.4m - are scheduled
Weak tanker rates lifted by Asia-Pacific Continuing growth in Asia-Pacific products trade is brightening the outlook for the tanker market, currently weak for both crude carriers and product tankers, say shipping analysts and brokers. "Spot earnings in the MR [medium-range] market have been fairly disappointing this year," said E A Gibson,
Royal opening for DP World's Brisbane auto terminal DP World chairman Sultan Ahmed Sulayem flew to Australia from Dubai for the grand opening of Brisbane's third semi-automated terminal today. The AUD$250M ($232M) terminal features automated stacking cranes and state-of-the-art operating and control systems. Under the new system, dockworkers operate
UK competition authority prepares new MyFerryLink ban The UK Competition and Markets Authority has said that it intends to give Eurotunnel-backed English Channel ferry operation MyFerryLink six months to close its Dover-Calais service. The authority, which last month succeeded the Competition Commission, said today that it was provisionally confirming
BW to buy 10 chemical tankers BW Group will buy 10 chemical tankers comprising two ships built in 2008 and 2010, and eight newbuildings to be delivered between 2015 and 2018 from Stream Tankers. The two chemical tankers are from Japanese shipyards Fukuoka Shipbuilding and Shitanoe Shipbuilding. The newbuildings are being built
Taiwanese steelmakers on US anti-dumping duties list Anti-dumping duties were levied on Taiwanese non-oriented electrical steel (NOES) manufacturers by the US Department of Commerce last week. Leicong Industrial, a Chungli-based steelmaker, was ordered to pay an anti-dumping tariff of 52.23%, the highest among the Taiwanese firms in the case,
Offshore business is 'long-term plus' for Korean shipbuilders South Korea's Hyundai HI, Samsung HI and Daewoo Shipbuilding & Marine Engineering will keep taking orders for offshore production facilities as high per-unit prices for large offshore projects, particularly production equipment, are their best options. Samsung Securities analyst Han Young Soo said
VLGC rates continue decline Freight rates to haul LPG on very large gas carriers continue to decline as the tonnage supply grows. The Baltic Exchange assessed the benchmark Ras Tanura-Chiba rate at $78.938/tonne, a $1.062 drop from yesterday. Current bunker prices in Fujairah, UAE, which works out to $60,309/day, is still
Chinese yards' new orders up 160% in Jan-April Chinese shipyards' new orders surged 160% year on year to 30.3Mdwt in the first four months in 2014, the China National Association of Shipbuilding Industry (CANSI) said today. During the same period, the newbuilding orders placed at Chinese yards for exports rose 174% y/y to 29.0Mdwt. The orderbook
Braemar and ACM outline merger plans Shipping service companies Braemar and ACM have today confirmed they are merging. The merged companies, to be branded Braemar ACM with comprise of approximately 420 brokers worldwide and is expected to be up and running by the end of July. The merger will be a "great fit"
Intra-Asia paraxylene shipments weaken long-haul trade Growing paraxylene (PX) exports from Northeast Asia to China are contributing to the fast growth of intra-Asia coastal trade, but they are undermining long-haul seaborne trade, according to Drewry's recently published Chemical Forecaster report. China's consumption of PX has emerged as a key driver
Adani takes over Dhamra Port for $917M Adani Ports and Special Economic Zone told local stock exchanges today that it has closed the Rs 5,500 crore ($917M) deal to take over Dhamra port on India's east coast. APSEZ executed a definitive agreement with two promoters of Dhamra Port Company Limited - L&T Infrastructure Development Projects
Japan yard orders down again Japanese shipbuilders saw orders dropping both year on year and month on month in March, suggesting that their recovery may be peaking. Having seen orders languishing before 2013 due to a strong yen, their fortunes have been recovering since the pro-business premier Shinzo Abe returned to power in
Tallinn opens new cruise quay Estonia's Port of Tallin welcomed the 330m Royal Princess, the largest cruise ship ever to visit the country, along with her 3,000 passengers when economic affairs and communications minister Urve Palo officially opened the quay on Saturday, 16 May. Costing €9.34M, the new quay "was the port's
French pupils to use Kongsberg engine room simulator French maritime vocational school Lycée Maritime Jacques Cassard in Nantes will use Kongsberg Maritime's advanced engine room simulator to train its students on marine engine operations from 750kW to at least 3000kW engineer level. Instructors have free reign to create engine failure scenarios based
Zim Launches New US Gulf-Brazil Service Zim is launching a new U.S. Gulf-Brazil direct service in cooperation with Mediterranean Shipping Co. as part of a streamlined inter-Americas operation. The new service and two upgraded services, which launch in mid-June, will cut transit times, add sailings and boost port coverage, the Israeli carrier said. Zim is cooperating with MSC...
Cyber-Warfare Cyber-warfare. The word causes shudders throughout the e-tailing business, and you need to look no further than Target, Michaels and Neiman Marcus for the latest examples of significant consumer data theft. Unfortunately, cybersecurity and the thought of data being compromised haven't caused as much concern among other businesses. For those...
New Bajio-Chicago Service to Tap Cross-Border Growth U.S. and Mexican shippers later this month will gain better access to manufacturing growth in central Mexico through a joint service operated by BNSF Railway and Ferromex, the latest railroad partnership forged to tap growing cross-border trade. The five-days-a-week service will link Ferromex's intermodal terminal at the inland port of Guanajuato...
Four-Year High in US Shipper Optimism Regarding Freight Growth U.S. shippers haven't been this optimistic about volume growth in the coming 12 months since The Hurt Locker won the Academy Award for Best Picture and an Icelandic volcano disrupted flights to and from Europe. Shippers surveyed by Wolfe Research in March and April on average expect their volume to rise...
Best Practices for Shipping Perishable Goods Coast-to-Coast The food industry has made great strides in bringing perishable goods from the West Coast to East Coast markets in a safe and timely fashion. Yet even with today's network of refrigerated rail cars, trucks, and intermodal containers, shippers of fresh produce, frozen foods, temperature-sensitive liquids, and other perishable goods...
Robust April Imports Point To ILWU Impact Robust April imports through several U.S. ports are at least partly related to initial effects of shippers accelerating import shipments to avoid potential disruption at West Coast ports tied to longshore labor negotiations. Fifty-one percent of respondents to a quarterly survey of shippers by Wolfe Research, which conducts investment research, "have...
Hapag-Lloyd Commits to IPO in 2015 Hapag-Lloyd, currently preparing to take over Chile's CSAV, has committed to a stock market flotation of the enlarged ocean carrier in 2015. The Hamburg-based carrier's shareholders have signed a binding agreement to float the newly formed company next year, according to TUI, the German tourism group, which has a 22 percent...
Hamburg Outperforms Sluggish Rivals Rotterdam, Antwerp The Port of Hamburg's container traffic grew by a market-beating 8 percent in the first quarter, as the port moved up on Europe's top box hub, Rotterdam, and widened its lead over third-ranked Antwerp. Germany's largest port handled 2.4 million 20-foot-equivalent units through March 31, with China and Hong Kong accounting...
Southern Asian Hub Ports Invest in a Bigger Future Transshipment hubs in South and Southeast Asia are pouring investment into expanding facilities and adding new equipment to handle the increasing size of container vessels, the new alliance groupings and steadily improving trade. Malaysia's Port of Tanjung Pelepas is investing $430 million as it prepares for the arrival of the P3...
$250m cruise commitment Norwegian Cruise Line (NCL) is investing $250m to elevate its fleet to the levels of its newest ships, the Norwegian Breakaway and its biggest vessel yet the 4,000 passenger Norwegian Getaway delivered in January.
TOO builds warchest Tanker and FPSO owner Teekay Offshore Partners (TOO) is selling new notes to pay for existing newbuildings and to fund future fleet expansion.
Jaya pays off loan Singapore's Jaya Holdings has paid off debt obligations as part of its takeover by Mermaid Marine Australia.
Devil in ditched plan The Liberal Government says it will upgrade existing passenger ferries rather than allow TT-Line to buy two freight-only ships for the Bass Strait crossing, and the change in plan is angering Tasmanian farmers and food exporters.
Braemar to quit church, shares fall Shipbroker Braemar Shipping Services is to move later this summer from its distinctive home in a central London church to bigger offices after its forthcoming merger with London rival ACM Shipping.
In and out at GOS India's Global Offshore Services (GOS) has performed a quick S&P deal on an accommodation barge.
Swanland action call Britain's RMT is calling for those responsible for the loss of the 3,150-dwt Swanland off Wales in November 2011 to be prosecuted, and for the government to take action to prevent any repetition.
Solstad strengthens Norway's Solstad Offshore has increased first quarter earnings as revenue increased.
Zim goes to Brazil Israeli container line Zim is launching a new service to enhance links between South America and the US Gulf.
Eitzen Chem takes a hit Eitzen Chemical, the Oslo-listed tanker firm which is struggling with a heavy debt overhang, has reported first quarter earnings that were heavily impacted by bad weather.
Dover ferry ban upheld The UK Competition and Markets Authority (CMA) will bar Eurotunnel ferries from Dover before the end of 2014.
Braemar earnings cut UK broking group Braemar Shipping Services has posted reduced annual profit on the day it announced a merger with compatriot ACM.
BW buys ten more BW Group just can't seem to stop buying tankers, it seems, following the disclosure Tuesday that it had agreed to acquire another ten.
One injured in blast A crew member has been severely injured in a boiler explosion on a Yang Ming containership.
PRGN plots buyback Greek bulker operator Paragon Shipping announced plans to repurchase shares Monday evening after turning in a first-quarter loss.
Brokers agree merger UK-listed shipbrokers Braemar Shipping Services and ACM Shipping announced Tuesday that they intend to merge.
Ferry double for Exeter UK shipyard Exeter Maritime Services (EMS) has won a contract to build two ferries for a Maltese owner.
Paragon sheds boxship Paragon Shipping of Greece has offloaded a post-panamax containership under construction at Zhejiang Ouhua Shipbuilding in China.
Nigerian cash untouched A $308m fund aimed at boosting Nigeria's shipping industry has yet to be handed out to owners.
Carnival's Asia pivot US president Barack Obama is having one and now it appears so is Micky Arison - an Asian pivot that is.
Vallianz back for more Vallianz Holdings has returned to the bond market for a second fund raiser in less than three months.
California dreaming The two major US west coast ports have both seen April container volumes increase by 10% compared to a year ago.
Aloha! Cargo shipments between Honolulu and other Hawaiian islands appear to be on the rise.
SeaIntel: G6 will require ports to handle more containers per ship SeaIntel says the ships of the carriers in the new G6 Alliance will spend 3.4 percent more time in port, but increase average vessel capacity 8 percent when compared to the New World Alliance and Grand alliances.
Expeditors outlines new strategy Peter Rose's early departure from the board of Expeditors International may have come as a surprise, but in comments to the Securities and Exchange Commission, company officials present the outline of a company undergoing a change in outlook.
LaHood joins infrastructure firm Paris-based infrastructure firm Meridiam has hired former U.S. Transportation Secretary Ray LaHood as a senior adviser.
ZIM details Latin America, Caribbean services
Cargolux adds Hong Kong-Ohio frequency
Amerijet launches domestic freighter service
Descartes releases driver's license compliance program
U.S. sees progress in ag exports to Mexico
Air Canada flies first Boeing 787
Washington Notebook: Inchcape loses protest of U.S. Navy award to competitor
IMO approves container weight verification changes The Maritime Safety Committee of the IMO on Monday approved changes to the Safety of Life at Sea convention that will require verification of container weights as a condition for loading packed export containers aboard ships.
IMO committee urged to make fuel quality risk 'top priority' Secretary General tells MSC the issue is 'really serious' and deserves special consideration.
Prices lack direction across Europe In Rotterdam, 380 cSt hadn't moved from Monday's level.
Bad weather drove-up operator's bunker consumption Debt-burdened Eitzen Chemical records more losses.
Shipowner takes up fuel efficient option BW Group's CEO sees the sense in buying eco tonnage.
IFO prices fall in Fujairah Little movement in Suez.
Bunker conference for Hong Kong Chinese bonded bunker companies expected to attend event.
Tax on fuel oil exports could hit production Russian minister acknowledges that primary oil refining could fall.
Owner faces charges over slow response to bunker leak Shipping company pays 'compensatory damages' to local fishermen.
US port preparing for increased traffic Three 'super post-Panamax' shore cranes have arrived for installation at the Port Newark Container Terminal.
Indian shipowner banks on slow-steaming to cut costs SCI likely to make a loss for 2014.
Bunker prices largely down at Asian ports Supplies of bunker fuels were fine at key Asian ports on Tuesday.
New customer for Alfa Laval's scrubbers Four RoRo vessels to be retrofitted with hybrid systems.
Titan court proceedings at Bermuda face new delay Hearing at Supreme Court of Bermuda adjourned to July 11, 2014.
Evergas orders more integrated LNG fuel supply systems Firm has extended orders for LNG/Multigas Carriers at Chinese yard.
East China fuel oil imports down as bunker demand falls Imports of fuel oil to east China are expected to fall by 46.7% in May.
Piraeus-based firm receives 'eco-type' tonnage Vessel is first to join fleet after firm's restructuring, says CEO.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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