Box lines feel supply chain pain in US Congestion at US ports and along the supply chains that link them to inland destinations is forcing trans-Pacific container lines to charge shippers higher rates to recover increased costs. The Transpacific Stabilization Agreement (TSA) announced on 20 October that most of its 15 liner members will
Khalifa Port's productivity soars 36% Only two years after starting its commercial operations, Abu Dhabi's flagship Khalifa Port now ranks fifth in the Europe, Middle East, and Africa region for productivity, which has leapt 36%. Khalifa's crane productivity has reached 34 gross moves per hour (gmph) - up from 25gmph in September 2012,
LNG hybrid barge powers up at Hamburg Cold ironing of cruise ships at Hamburg started this weekend with the christening of Hummel - an LNG hybrid power barge developed by Becker Marine and AIDA Cruises. Hummel - which means 'bumblebee' in German - is a self-contained power station. Running on natural gas, which it can store as LNG, the
Economou reassures on debt deadline DryShips has secured a new loan to close the funding gap on its looming bond payment, lifting the company's stock price. George Economou-led DryShips has $700M in convertible bonds maturing 1 December. But the company has admitted that if bondholders were to declare a default, triggering
Feeder service brings hope to Calabar Nigeria's eastern port of Calabar has received a boost with the inauguration of African Independent Feeder's new liner service from Tema in Ghana. The development of Calabar - a river port with a free trade zone - has been held back by shallow draught and hazardous road links. Despite several
Suez expansion project signs $2Bn deals Suez Canal Authority head General Mohab Memish has announced contracts totalling $2Bn for expanding the canal with a partly parallel waterway. A consortium of Boskalis, Van Oord, National Marine Dredging, and Jan De Nul won a $1.5Bn contract for three of six lots in the expansion, while a DEME and
Ebola scare reveals cruise complications The Carnival Magic's return to Texas after a cruise overshadowed by panic over a passenger's potential exposure to Ebola reveals the dangers for the cruise industry from health scares. Carnival was advised on 15 October that one of its passengers may have processed fluid samples from an Ebola
Onne port propels Nigerian oil and gas Nigerian President Goodluck Jonathan inaugurated last week the fourth phase of the Onne Port Complex in Rivers State. The port forms part of the Onne Oil and Gas Export Free Trade Zone, which currently comprises three berths of 15m alongside depth, 800ha of reclaimed land, and new access roads.
Mogadishu port handover sparks protests A Somali federal government decision handing the operation of the Port of Mogadishu to Turkish company Al Bayrak has surprised the Somali parliament, triggered protests by dockers, and raised concerns from UN monitors. Transport minister Yussuf Maalim formally transferred management to Al Bayrak on
Euronav upbeat on tanker market outlook Euronav continued to lose money in the third quarter but sees the fourth quarter's outlook as the tanker market's best for four years. In its third quarter, the Antwerp-based tanker operator's after-tax result was a shortfall of $20.61M, following a $21.25M loss for the entire first half. However,
SIGP wins first A1 issuer rating from Moody's Shanghai International Port (Group) (SIPG) has been assigned an A1 issuer rating by Moody's Investors Service, the first Moody's rating given to SIPG. The rating outlook is stable, a statement of Moody's said today. SIPG's A1 issuer rating is on par with the company's baseline credit assessment
Chinese industrial zone to open for foreign trade Tianjin Nangang Industrial Zone in North China is to open up for foreign trade by the end of the year. The industry park already has built up three terminals, and 13 of the 48 planned berths have been completed. "The terminals there are able to accept 10,000dwt vessels," stated Liu Jinlu, Director
CSDC and Wuhan Steel swap shares Shanghai-listed China Shipping Development (CSDC) announced a share swap deal with Wuhan Iron and Steel (Wuhan Steel) last Friday. CSDC will transfer 142M shares (4.17% of its total equity) to Wuhan Steel and the latter will transfer 3M shares (2.97% equity) to CSDC. The swap is free, according to
Pan Ocean settles for debt-for-equity swap Deutsche Bank and Barclays Banks are among the creditors to have been handed shares in another round of debt-for-equity swap executed by South Korean bulker operator Pan Ocean. Pan Ocean, formerly known as STX Pan Ocean, has been in receivership since June 2013 after incurring over $5Bn in debts,
MOL looks to recruit more Indian seafarers Japan-based shipping liner Mitsui OSK Lines (MOL) has established MOL Synergy Marine Singapore in Chennai, India jointly with ship management services company, Synergy Group, to increase its recruitment of seafarers from India. MOL Synergy will provide crew training services, as well as ship
Tax exemption on HK carriers in South Africa Hong Kong carriers will be exempted from taxation levied on profits in South Africa as the city has reached an agreement with the African country to avoid double taxation. Profits from international shipping transport earned by Hong Kong residents that arise in South Africa, which are currently
Sembcorp Marine wins $174M in contracts Singapore-listed offshore services provider Sembcorp Marine has secured two offshore energy related contacts valued at SGD222M ($174M). The contracts were sealed by Sembcorp Marine's subsidiaries, Sembmarine SLP and Jurong Shipyard. Sembmarine SLP will design and build the offshore substation
Vallianz secures $64M from offshore contracts Singapore-listed offshore services provider Vallianz Holdings has won new charter contracts and clinched a letter of award worth $64M. Vallianz will supply vessels ranging from anchor handling tug supply vessels (AHTS), platform supply vessels (PSV) and barges for periods of up to three years under
Rio, Fortescue ramp up iron ore shipments Fortescue boasted a 60% hike in iron ore shipments in its September quarterly results released this month compared to the same period last year. The Australian miner also marked its 8th consecutive shipping record out of the Pilbara - 41.5 tonnes for the quarter and an annualised rate of 166 tonnes
Where do vessels call after leaving Ebola-hit West African ports? Lloyd's List Intelligence data reveals which states may be most exposed to seaborne spread of the disease
African ports take the strain in containing Ebola Terminals least able to screen for the disease are under pressure to halt its spread by ship
High Court finds for IOPC against Gard Move to wind up 1971 fund to be debated this week
Shippers fight Hong Kong congestion charge Hong Kong Shippers' Council says carriers should compensate shippers for delays caused by congestion
Scorpio Bulkers nets bank financing Company secures $411.2m from group of lenders that includes Kexim
DryShips lines up $120m loan from Ocean Rig Drilling subsidiary cash to act as 'stop-gap' to help meet bond repayment
Strong rates secured in Pakistan VLCC sale High-priced transactions emerge despite rates pressure in demolition market
VLGC spot rates return to winning ways Rates rise after recent dip, now standing at $107 per tonne
Transpacific lines seeks higher charges as congestion worsens Carrier group after compensation for increased costs across the supply chain
Frontline Management has new chief executive Robert Hvide Macleod takes over from Jens Martin Jensen
German banks will survive stress test, Wiebers argues But KfW warns that pain is likely
Long Beach waives demurrage to ease congestion Cargo owners given extra time to pick up overseas import containers
Lower bunker prices will not persuade vessels to pick up speed Drewry says vessel slowed to tackle excess capacity as well as to cut fuel use
Brussels maritime official faces UK House of Lords grilling Baltic and North Sea unit boss will give evidence on policy co-ordination
Dredging heavyweights share Suez Canal contract Boskalis, Van Oord, NMDC and Jan de Nul split the $1.5bn contract to widen vital trade artery
Transport union slams countries that bar ships over Ebola fears Turning vessels away goes against law and common humanity, says ITF
VLCC spot earnings surge as bunker bills drop Owners reap the benefits of lower fuel costs
Drake loses Liverpool stevedoring contract Blue Arrow wins tender to provide dock workers
Samsung Heavy Industries reports a 12% drop in operating profit South Korean shipbuilder blames weak markets for its lacklustre performance
Jiangsu Rongsheng in $532m nine-month loss Hong Kong-listed company's struggles continue as debts mount
Business groups renew appeal for ILWU-PMA deal More than 100 national, state and local organizations have signed a letter urging a speedy agreement on a West Coast port labor contract "to allay growing concerns of thousands of businesses" that rely on the ports. The supply chain stakeholder letter was organized by the National Retail Federation and signed by the American...
Katoen Natie opens $50 million Singapore terminal extension Officials celebrated the opening of Katoen Natie's new $50 million terminal extension with a ribbon cutting at its Jurong Logistics Terminal in Singapore. The add-on to its original facility brings the Belgium-based company's investments in Singapore to $200 million. Katoen Natie increased its logistics capacity by 45 percent to accommodate three...
India venture gets go-ahead to develop, operate Iranian port India will invest $85.21 million in the development and operation of cargo facilities at Iran's Chabahar port, as New Delhi seeks to enhance its strategic interest in Central Asia. India's federal Cabinet Council approved the investment plan at the weekend, an official statement said. "Chahbahar port, located in the Sistan-Baluchistan Province on...
Drewry: Asia-Mediterranean trade falling victim to overcapacity A sharp drop in spot rates from Asia to the Mediterranean was facilitated by slowing cargo volumes and overcapacity, Drewry Maritime Research says. In its latest edition of Container Insight Weekly, Drewry said the trade lane's volumes peaked in May, several months earlier than the Asia-North Europe trade lane. Because of...
New service brings larger ships to Charleston The South Carolina Ports Authority today received the first ship call of a new consolidated South American east coast service that brings additional post-Panamax vessels to Charleston. The new "New Tango" weekly service includes Hamburg Süd and Aliança, Hapag-Lloyd and CSAV, as well as two carriers new to the trade lane:...
Harbor Trucking Association warns LA-LB, Oakland of legal action The Harbor Trucking Association will explore the possibility of filing a class action lawsuit against terminal operators at the ports of Los Angeles, Long Beach and Oakland as congestion worsens at the California ports, the association announced today. In three identical letters sent to the ports of Los Angeles, Long Beach and...
Port of Boston: $200 million needed to upgrade port State and federal politicians are balking at the potential privatization of the Port of Boston's busiest terminal, an option brought forth by the port authority as it continues to look for ways to erase a funding shortfall totaling $200 million. Massport already received $310 million in state and federal funding for...
GAO: Customs should improve use of border security data The U.S. Customs and Border Protection should improve its analysis and circulation of border security data, a new report from the Government Accountability Office says. The 45-page report, released last week, says Customs' Operational Field Testing Division, a covert unit, probes U.S. border facilities for potential illicit nuclear material being smuggled...
Federal Regulatory Update: Preparing for the Road Ahead The federal regulatory environment continues to change rapidly, particularly in the area of U.S. trucking. With the Federal Motor Carrier Safety Administration continuing to seek an inventory of data-driven regulations in an effort to further increase U.S. roadway safety, many feel these new requirements place an already struggling industry on...
TSA carriers seek another general rate increase Members of the Transpacific Stabilization Agreement have filed for their 11th general rate increase this year in a continuing effort by carriers to shore up spot rates from Asia to North America. TSA members will seek an increase of $600 per 40-foot container, effective Nov. 15. The carriers have filed for...
Canadian truck freight volumes spike in September, TransCore says A stronger, steadier North American economy is generating more intra-Canada truckload freight and cross-border shipping demand from U.S. partners and customers. The number of loads moving through the Canadian truck spot market accelerated in September after two consecutive months of decline, according to TransCore Link Logistics. The company's Canadian Freight Index, which...
Is the Nicaragua canal driven by geopolitics? Nicaragua has dreamed since 1826 about building a canal connecting the Caribbean with the Pacific. It was then that U.S. Secretary of State Henry Clay presented the idea to Congress, and Congress turned it down. The U.S. almost started work on one in 1899 before a convenient revolution in Panama opened...
Carriers reaping benefit from slump in oil prices The slump in crude oil prices over the past three months has sharply reduced ocean carriers' unit costs as they face declining cargo volumes in the seasonally slack fourth quarter. Brent crude, the international benchmark, is trading at around $86 a barrel today, down 25 percent from a peak of $115...
Ebola impact: Shipping delays, health screenings, preventive measures Click here for full-size infographicTwo months ago, the largest container carrier in the world, Maersk Line, issued a statement to its customers concerning the Ebola crisis in West Africa, meant to calm fears. The release did not mince words, and stated one undeniable fact at its start: Ebola has never been transmitted...
CP says merger talks with CSX are off Canadian Pacific said its exploratory discussions with CSX Corp. about a possible merger have ended and that no further talks are planned. CP had raised the possibility of a business combination it said would improve service through the intermodal bottleneck of Chicago, but the overture was rebuffed by CSX. The merger, which...
KCS works to expand cross-border capacity, ease customs clearance Kansas City Southern Railway said it's investing in its network at a higher rate than most other Class I railroads, as the company expects to increasingly handle more U.S.-Mexico cross-border intermodal, vehicle, crude oil and agriculture and mineral shipments. The railroad, which has the only U.S.-Mexico cross-border network, is also working...
TSA members moving forward with intermodal surcharges The Transpacific Stabilization Agreement said most of its member lines are moving forward individually with previously surcharges on intermodal store-door deliveries from Asia to North American points in an effort to offset higher costs. TSA members have recommended charges of $100 per 40-foot container and $90 per 20-foot container. The carriers...
35-hour pilot strike to impact Lufthansa Cargo Lufthansa Cargo said all its freighter flights will operate as scheduled as pilots began a 35-hour strike at midday that forced the parent airline to cancel 1,450 short- and medium-haul passenger flights. The all-cargo carrier originally said the walk-out would have "only very limited" impact on shippers because it did not...
CMA CGM Group Executive Officer Farid Salem to Give Keynote at JOC Port Performance Conference Europe in London, Nov. 19 NEWARK, N.J., Oct. 20, 2014 - Farid T. Salem, who is the current CMA CGM Group Executive Officer and Board of Directors Member, will deliver the keynote address at Port Performance Conference Europe, organized by JOC Group Inc. The two-day London event, on Nov. 19-20, will explore the growing productivity challenges facing...
DryShips surges after loan DryShips saw its share price rise sharply Monday after the New York-listed shipowner announced a loan from spin-off Ocean Rig.
Cautious on condensates Significant US exports of condensates will not hit the water soon to bolster long-haul tanker demand, Poten & Partners says.
Shipping's cyber burden Governments are sounding the alarm on cyberattacks but the onus falls on the shipping industry to take steps to prevent them, lawyers at US firm Blank Rome say.
ECA to hit arbitrage US shipbrokerage Charles Weber says the fuel premiums associated with looming sulphur limitations next year will hurt charterers' arbitrage opportunities on smaller tanker trades more so than routes for larger vessels.
Maersk makes history Huge containership becomes the largest vessel ever to enter the Thames only 30 miles from central London.
Drillship deals stretched DryShips-owned Ocean Rig (ORIG) has extended two drillship charters in a deal worth $1.1bn.
Maersk scraps AHTS Maersk Supply Services has followed up a rush of newbuilding activity with the disposal of one of its anchor handlers for demolition.
RCCL faces fine Royal Caribbean Cruises could face a heavy fine after Dutch authorities suspect a breach of the Dutch Foreign Employment Act.
Navico buys MARIS Marine electronics company Navico Holdings has acquired Maritime Information Systems (MARIS) from the Grieg group.
New man, new direction? Robert Macleod's appointment as chief executive of Frontline has increased speculation that the company is to combine with fellow John Fredriksen vehicle Frontline 2012.
ORIG lends a hand Nasdaq-listed DryShips is getting a cash injection of $120m from subsidiary Ocean Rig (ORIG) to help pay off a bond bill.
Vinalines keen to sell Vietnamese state shipowner Vinalines is trying to offload the costly floating dock at the centre of a fraud case that ended with two former executives receiving the death penalty.
Cochin connection A new shipping service between India's Cochin and the Maldives is under consideration from the two countries' port authorities, the Deccan Chronicle reports.
Scorpio scoops $411m loan New York-listed Scorpio Bulkers has fixed a loan of $411.26m to finance 12 new capesizes.
Goldman out of ABP Goldman Sachs could sell its stake in major UK terminals player Associated British Ports (ABP).
Macleod takes Frontline reins Robert Macleod is to succeed Jens Martin Jensen as chief executive of Frontline in a top management shake-up at the tanker owner.
Stowaways jump A man has died after a group of nine stowaways leapt from a PIL cargoship in Ghana.
Atlantic mobilises fleet Singapore's Atlantic Navigation Holdings has agreed to provide eight vessels to work at an infrastructure project off Qatar.
Tanker refloated A Seychelles-owned tanker has been refloated after nine days stuck in the Amazon river, Brazil.
NAO dividend holds firm Nordic American Offshore has kept its dividend unchanged for the third quarter.
Gotland sells again Sweden's Rederi AB Gotland has sold another tanker as it trims its fleet.
Buffalo in LNG alliance Bunker specialist Buffalo Marine Service has teamed up with LNG America in a bid to develop LNG fuel services in the US.
More bonds bought Oslo-listed Subsea 7 has splashed another $27m on buying back its own bonds.
Polemis sheds oldest VLCC Adam Polemis is believed to have scrapped the oldest of his six VLCCs.
Carnival Ebola panic over A Carnival cruiseship has returned to the US after being refused entry to Belize in an Ebola scare.
TIL to buy back? A sharp rise in the value of its ships could have set the scene for a share buyback plan at Teekay spin-off Tankers Investment Ltd (TIL).
COSL orders AHTS trio China Oilfield Services (COSL) has been linked to a new order for anchor-handlers at Wuchang Shipbuilding.
Samsung edges up Korea's Samsung Heavy Industries has posted a slightly stronger third quarter profit despite a drop in revenue.
Charters net Vallianz $64m Vallianz Holdings has added a further $64m to its order backlog thanks a series of new deals announced Monday.
Suez contractors picked A Royal Boskalis Westminster-led consortium has secured a contract to construct part of the 'new' Suez Canal.
SMM bags double order Sembcorp Marine has secured two offshore energy related contracts valued at a combined SGD 222m ($173.4m).
York MR sale falters York Capital Management's plan to offload a series of five medium-range (MR) newbuildings looks to be floundering.
Freight surcharge to reflect bunkers' price differential Cross Channel routes to see surcharge imposed from January 1.
Bunker prices stage recovery Singapore 380 cSt material has climbed for two trading days in a row.
Bunkering hit by falling vessel calls Visits down by 20%.
Global bunker fuel sulphur averages down in 2013 IMO sulphur monitoring programme shows close to 80% of distillates would meet new ECA limit.
LNG Conference 'to tackle the burning questions' Delegates to discuss prospects for LNG aboard an LNG-fuelled cruise ship.
LNG America hooks up with bunker supplier Moving towards viable gas bunker market in US Gulf.
Awash with oil As prices fall, some oil companies now seem to be at a loss as to what to do next.
Call for at sea bunkering ban Fuel oil spills draws sharp response in Russian Far East.
Quadrise sees losses widen But chairman says company has passed 'key milestones'.
IMO study: Shipping's actual CO2 emissions down less than 20% Only the share of emissions has fallen by 20% because global CO2 output grew while shipping stemmed growth.
Shipping's CO2 emissions to rise despite improved efficiency Potential for increase if slow steaming stops, while even major efficiency improvements won't mitigate impact of future trade growth.
Tallinn nets ferry contract Ferry tender includes LNG power option.
Analyst: LSFO-HSFO price differentials to narrow Most vessels will switch to MGO within ECAs instead of consuming LSFO, says Shell spokesman.
Rotterdam: LNG as marine fuel faces 'business challenge' 'Viable' business case needs to be present for LNG bunkering to take off, says spokeswoman.
USCG gains training and competency on LNG bunkering Organisation has sent staff to Scandinavia for training on LNG bunkering.
French port to start bunkering study Project to assess feasibility of bunkering with low sulphur fuels.
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