OSG nets court approval on plan Ruling paves way for Chapter 11 exit
GSL fixes ship to Sea Consortium All 17 vessels in company fleet now employed
Panamax charter rates slide again New ConTex shows 14.3% year-on-year fall for 24-month fixtures
Cheniere sells LNG from Corpus Christi to France's EDF EDF will use its own vessels for shipments
Distress signals from ferries Must environmentalism end up, because of its zeal, harming the environment more?
Wärtsilä sells two-stroke engine business to China State Shipbuilding Corp Finnish engine maker hopes to see rapid business growth in Asian markets
Papua New Guinea makes impressive start to LNG export business PNG has so far avoided some of the pitfalls suffered by competitors
North Europe-South America capacity cuts Shipping lines axe service as freight rates on the trade lane flounder
Asia-Europe rates slide for consecutive weeks August general rate increases cannot come soon enough for carriers
Rotterdam reports moderate container traffic growth Second quarter volumes up 3.3% to 3.1m teu, tonnage climbs 5.4% to 33.4 m tonnes
Vale secures $7.5bn from Chinese lenders despite valemax ban Cexim hints at newbuilding opportunities and further co-operation between Vale and Chinese lines
What next for CMA CGM? Could the French carrier team up with UASC and CSCL to create a four-way alliance battle?
Qingdao box terminal to issue $145m bonds Venture between QPI, DP World, APMT and Cosco Pacific seeks domestic financing
New recycling hub to boost Tilbury box numbers Sita UK and Forth Ports sign deal to create major recycling hub
A paradox for capes owners: no honey on rates, but demand keeps flowing Rates stagnate, but volumes from major suppliers are on the rise notably in the Pacific
BW Group product tanker poised to load first ever cargo of US condensate Ground-breaking voyage will herald start of a new trade
Stealthgas orders four new LPG carriers Expansion of smaller LPG ships is on track
Samsung Heavy Industries wins $724m gas carrier order Deal by South Korean yard prompts talk of VLECs
Offshore and gas carriers boost Wärtsilä profit Finnish engine manufacturer hails active contracting in marine markets
Week on Wall Street | July 18 Look south of the border on oil says Pemex, and the fees that make bankruptcy so awfully expensive
Jiangsu Hantong secures Sinochem tankers China's Jiangsu Hantong Ship Heavy Industry has secured an order for up to eight stainless-steel chemical tankers from compatriot shipowner Sinochem Shipping. This firm four 38,000dwt chemical tanker order is regarded by the shipbuilder as an opportunity to move into this new high-value market.
Jinling wins Densay ultramax order Chinese shipbuilder Jinling Shipyard has won an order for an ultramax bulk carrier from returning UAE-based customer Densay Shipping & Trading DMCC. The 64,000dwt vessel, to be built to the Dolphin 64 design, is scheduled for delivery in February 2017 and will be Marshall Islands flagged and classed
Antwerp to build LNG barge bunker station The port of Antwerp has issued a call for tenders for the construction of an LNG bunker station for inland waterway barges. The port said that construction of the station, which it hopes to have in service by early 2016, was an attempt to break out of the "chicken and egg" situation which was
Gate LNG Terminal contract awarded Fluor Corporation has been awarded a contract by Royal Vopak and Gasunie to design and build the liquefied natural gas (LNG) break-bulk expansion facility at the Gate Terminal in the Port of Rotterdam. Fluor, a multi-national engineering and construction firm headquartered in Texas will provide
Costa Concordia departure may be delayed until Tuesday Deteriorating weather conditions could delay until Tuesday (22 July) the departure of the Costa Concordia from the island of Giglio. This is according to Franco Gabrielli, head of Italy's civil protection agency, who is overseeing the salvage operation for the Italian authorities. He told Italian
Sheerness wins ten-year Volkswagen contract Volkswagen Group UK is to build and oversee a new eight-acre (3.2ha) pre-delivery inspection centre (PDIC) at Peel Ports Medway's Port of Sheerness. The multi-million dollar investment will create 100 supply chain jobs and increase car imports into Sheerness by 50,000 vehicles annually. The new
Tyne gains new ro-ro service The UK Port of Tyne has welcomed Wallenius Wilhelmsen Logistics' (WWL) MV Tristan with the first shipment of construction equipment from Asia that heralds a new direct ro-ro service. WWL managing director Paul Reeves commented: "WWL's regular ro-ro service from Asia to Europe via the Suez and Panama
China poised to buy into Australian container ports Australia's Asciano is negotiating the sale of a potential $1Bn stake in its Patrick ports portfolio, the company confirmed today (18 July). In a media release to the Australian stock exchange "in response to recent media speculation", Asciano said discussions over a sale were under way. However it
One more Sewol victim found Another body has been recovered from the capsized ferry Sewol, South Korea's Ministry of Oceans and Fisheries announced today (18 July). The Ministry said the body, which was of a female victim, was found during a search operation this morning. The victim's body was found in the kitchen on the third
Chemical leak occurs in Laem Chabang port More than 100 school children had to be hospitalised after inhaling chemical fumes that leaked from tanks in Thailand's Laem Chabang port. "Port workers had been moving tanks of butyl acrylate onto a container ship when one of the tanks dropped onto the deck and fumes leaked out. Wind then carried
Five dead in Sewol rescue helicopter crash A helicopter that was returning to its base after helping on salvage work for the capsized ferry Sewol crashed in South Korea's Gwangju province yesterday morning (17 July). All five firefighters onboard were killed. The crash occurred at 10.53hrs local time. A female high school student who was at
Evergreen to launch another L-type vessel Taiwanese carrier Evergreen Line announced today (18 July) that it is to obtain another L-type vessel, which will be deployed on its Asia-US West Coast route after its delivery on 29 July, replacing an older vessel. Named Ever Loading, this is the sixth L-type vessels to be built for the company by
ReCAAP ISC: Piracy, sea robbery up 16% in 1H14 Singapore-based anti-piracy organisation, ReCAAP Information Sharing Centre (ReCAAP ISC), has highlighted an increase of 16% year-on-year (y/y) in the numbers of reported sea robbery and piracy incidents for 1H14. From January to June 2014, ReCAAP ISC recorded a total of 73 incidents, compared to 61
MOL gets new Soma Maru, sells older Soma Maru Mitsui OSK Lines plans to sell one of its older post-Panamax ships after Japan's biggest ship owner took delivery of a new namesake. The 1995-built 90,844dwt post-Panamax bulker Soma Maru, built at Koyo Dockyard, will be available for inspection in Japan's Soma port from next week, MOL officials
Vale inks deals with Chinese banks Brazil's mining giant Vale yesterday signed financing agreements with China EximBank and the Bank of China during Chinese President Xi Jinping's visit to the South American country. China Eximbank extended a $5Bn credit line to Vale to buy or lease ships and shipping equipment from Chinese
Indonesian passenger ship catches fire off Bali An Indonesia-flagged passenger ship, Gelis Rauh, caught fire off Bali, Indonesia, yesterday. The vessel, owned by the Boedihardjo Group, was carrying 73 passengers and crew, plus 21 vehicles, en route from Padangbai, Bali, to Pelabuhan Lemar, Lombok . A fire broke out on the vessel at 21.35 hours
Vale and China's ports to develop green initiatives Vale's Tubarão Port in Brazil and Lianyungang Port in China signed an agreement yesterday to develop green technologies in their operations. Under the agreement, both ports agreed to jointly increase the productivity of their operations, exchange knowledge on safety subject and develop technologies
Rising labor costs impacting Hong Kong manufacturing Rising labor costs continue to drive factories out of the Pearl River Delta, with more than a third of Hong Kong-based manufacturers planning to move production to areas with lower costs over the next three years. A survey by the Chinese Manufacturers' Association of Hong Kong, or CMA, found that 32...
Ocean carrier rate revision roundup for July 18 Multiple carriers have announced general rate increases on several trade routes to take effect in August. Shipper groups have reacted cautiously to the new 2M vessel-sharing agreement between Maersk Line and Mediterranean Shipping Co., which could help soak up some excess capacity. The deal could also pave the way for CMA...
ILWU talks to recess Monday for union caucus Contract negotiations between the International Longshore and Warehouse Union and the Pacific Maritime Association will recess beginning Monday for a previously scheduled union caucus. It is not unusual for the ILWU to call caucuses from time to time, although next week's meetings "will certainly cover the contract negotiations," ILWU spokesman Craig...
Ontario's manufacturing growth boosts cross-border trucking Manufacturing growth in Canada's central province of Ontario is boosting freight traffic with the U.S. and increasing demand for faster cross-border trucking service. Manufacturing sales in Ontario grew 3.3 percent year-over-year in the first quarter, as exports of parts, consumer goods and machinery increased, according to the Royal Bank of Canada. "Sustained...
China-based cyberattack hits logistics operators, shippers A sophisticated computer attack launched from China stole financial records, customer data and shipment manifests from as many as seven shipping and logistics companies, using handheld scanners infected with malicious software to crack through corporate security systems. The first cyberattack known to specifically target global shipping companies raises concerns about the...
FedEx rebuffs drug-trafficking charges FedEx officials said today the company will fight federal drug trafficking charges linked to the distribution of prescription medicines illegally sold through Internet pharmacies and defended their efforts to prevent FedEx distribution networks being co-opted for illegal purposes. A U.S. federal grand jury in San Francisco Thursday indicted FedEx, FedEx Express...
Rates across SCFI drop lower Spot rates from Shanghai to Northern Europe sank 5.5 percent to $1,230 per TEU this week. Full-size chart Instability in the spot rate market continued this week, as spot rates from Shanghai to northern Europe, the Mediterranean and both coasts of the United States sank yet again amid a hearty schedule of...
Antwerp to build LNG bunker station The Port of Antwerp plans to build a bunkering station to encourage use of liquefied natural gas by self-propelled river barges. The bunkering station is the latest of several projects around the world to develop infrastructure to support vessels' use of LNG as a cleaner-burning and possibly more economical alternative to...
Managing Your Staff I had the opportunity at a recent trade conference to catch up with a friend who manages the trade and customs operations of a Fortune 500 company. The conversation quickly turned to a dilemma she faced involving the recent departures of two key staff members within a three-week period. Given...
Hub Group expects NS, UP intermodal service to improve by year-end After seeing "substandard" intermodal rail service cut its container utilization in the second quarter, the Hub Group expects gradual service improvement from its main partners, Norfolk Southern Railway and Union Pacific Railroad, by the end of the year. The Class I railroads' effort to improve intermodal service reliability with more locomotives...
Rotterdam's first-half container growth trails rival Antwerp The Port of Rotterdam's container traffic rose 1.9 percent year-over-year in the first half, driven by higher volumes on Asian and North American routes, but growth again trailed that of neighboring Antwerp. Europe's biggest container hub handled just over 6 million 20-foot-equivalent units in the six months through June, up from...
California trucking groups lobby to keep fuel costs down Trucking interests in Southern California were urged this week to lobby for a delay in the inclusion of transportation fuels under the state's cap and trade law, or risk higher and volatile diesel fuel prices that could significantly increase their cost of doing business. Speakers at a Harbor Trucking Association meeting...
India's exports rose again in June India's merchandise exports rose for the third straight month in June on a year-over-year basis, expanding 10.22 percent to $26.48 billion, according to preliminary figures released by the nation's Ministry of Commerce and Industry. Export growth in June was led by readymade garments, engineering goods, petroleum products, leather products and handicrafts,...
India clears way for SEZ operation adjacent to Mundra port India's largest port infrastructure developer, Adani Ports, has received government approval for its "special economic zone" project at the Port of Mundra, allowing the non-government cargo terminal to consolidate operations. "The grant of the environmental clearance to Mundra SEZ by the Ministry of Environment and Forest will encourage investment in SEZ,...
Congestion explained by LA-Long Beach import surge A surge of imports through Los Angeles-Long Beach in June caught transportation providers by surprise, and helps explain why the ports had problems with terminal congestion and capacity shortages in both the rail and drayage trucking sectors. While it is obvious that retailers and other importers shipped early this year through...
Hactl on the rebound a year after Cathay exit When Cathay Pacific left Hong Kong Air Cargo Terminals (Hactl) a year ago to start its own freight business next door, the carrier walked out taking 1.2 million tons of annual cargo with it. To put that figure in perspective, JFK International in New York handled 1.29 million tons last year,...
Heidmar unworried New sanctions slapped on Rosneft by the Obama administration are not expected to halt the Russian oil giant's takeover of a stake in pools power Heidmar, company officials said today.
OSG almost out Overseas Shipholding Group's reorgansation plan was approved today by a US bankruptcy judge in Delaware, some 20 months after it filed for Chapter 11 protection, an OSG official confirms.
Volga volumes rise Russian cargoship owner Volga Shipping has posted a 5% increase in cargo volumes for the first half.
Seadrill says sorry John Fredriksen's Seadrill has moved to repair damage stemming from an unsuccessful $1bn bond issue.
Parental support China Shipping has provided a $300m liquidity boost to its Hong Kong-listed boxship division, China Shipping Container Lines.
Optimism examined We take a look at what was said in the market over the past week.
Yards eye upgrade BC Ferries tendering for conversion of two ships to dual-fuel in deal worth up to $60m.
Precious set for profit KT ZMICO is backing Precious Shipping to return to profit in the second quarter despite a weak period for the dry cargo market.
Kazakhs hit record Kazakh national shipowner KazMorTransFlot has posted its best ever profit in the first six months of 2014.
Casino ship refloats A US casino cruiseship has freed itself after grounding off Savannah, Georgia.
$100m for MBC Malaysian Bulk Carriers (MBC) has clinched a new MYR 320m ($100m) loan to refinance short-term debt.
PDZ brings in Helmi Malaysian boxship owner PDZ Holdings has appointed a group chief operating officer as it seeks a move into the offshore sector.
Gas leak hits 100 More than 100 people were taken to hospital on Thursday after a chemical leak on a K Line containership.
Asciano in sale talks Asciano has confirmed speculation it is in talks to sell assets worth more than $1bn.
Vale pens China port pact Vale has taken advantage of a state visit by Chinese president Xi Jinpin to sign a deal with Lianyungang Port.
Martinac on block A last-ditch bid to save JM Martinac Shipbuilding of the US has failed.
Wartsila edges up Finnish ship power group Wartsila has posted a higher profit in the second quarter despite a revenue rise.
Wartsila teams with CSSC Wartsila and China State Shipbuilding Corporation (CSSC) are forming a joint venture to operate the Finnish group's two-stroke engine business.
Sovcomflot loses out Sovcomflot has failed to have the detention of one of its tankers in Australia late last year overturned at an appeal.
John's Russian dilemma John Fredriksen could face potential fallout from the latest round of sanctions against Russia over the situation in Ukraine.
West coast volumes jump As predicted US west coast terminals saw a surge in container volumes in June, figures from two of the ports show.
Economou on a roll The jewel of George Economou's shipping empire has cleared another hurdle in the race to shore up its balance sheet.
TNP seeks cash Teekay LNG Partners has returned to the capital markets for cash to help fund its expansion campaign.
X-Press dials GSL A leading UK containership owner has made good on a promise to firm up new revenue streams after lining up a fixture for its only unemployed asset.
Obama uses executive authority to boost infrastructure investment Obama said deferring maintenance and enhancements is a drag on the economy, noting that construction will create jobs now, and future growth will come from companies that take advantage of efficient transportation and hire more.
Air cargo pricing index 12 weeks away The index, which will be compiled through information submitted by forwarders, will initially focus on key air cargo trading lanes out of Hong Kong. The founders have been working toward an index like this for a decade.
BNSF prepares for fall harvest A BNSF official said that the Surface Transportation Board's order to increase grain shipments might encourage customers to "seek regulatory intervention." This, he said, will pit regions and commodities against one another.
General cargo boosts St. Lawrence Seaway volumes The cargo discharged this week includes 12 nacelle cooling units and 14 generators destined for the wind farm near New Salem, N.D. The components are loaded on trucks and driven to the wind farm.
Government indicts FedEx over Internet pharmacy deliveries
Algoma takes delivery of ship with exhaust scrubber
Panama Canal fuel prices mostly up Average demand reported at the Central American port.
Weekly Global Market Report A weekly price roundup from bunkering hubs around the world.
Chinese firm in deal for Wartsila's two-stroke business Acquires 70% stake for $62 million.
Shell puts Canadian LNG fuelling project 'on hold' again Emerging market needs a 'balanced approach', says firm.
Antwerp terminal 'responds to ECA regulations' Extra storage capacity added for marine fuels, including distillates.
Prices close week firm in Fujairah 180 cSt material fell sharply at Suez.
Joined-up approach to improve cat fine management Sea trials show positive results from combining monitoring with separator adjustments to reduce engine damage.
Prices mixed in Europe 380 cSt flat in Gibraltar.
Antwerp: LNG bunkering station ready for 2016 start Move aimed at inland barge market.
Argentinean ports face more strike woes Customs union in overtime ban threat.
Hapag-Lloyd prepares customers for 2015 cost increases Predicts higher low sulphur premium than that used by Maersk for calculating extra ECA costs.
Maersk vessel dons fuel monitoring kit Modifying engine use could lead to fuel savings.
Costa Concordia's passage under scrutiny French government won't tolerate pollution to its coastline.
Asian prices end week stronger Tokyo Bay to close for a holiday on Monday.
Fuel costs hit profits for Norwegian shipowner Prices rose 6% in first half of 2013.
Ten newbuildings to join Chinese bulker fleet Meanwhile, eight ships scrapped as part of company's fleet renewal efforts.
Nigerian government to start bunkering business October marked for operational start.
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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