Nova Tankers will stop operating at the end of June VLCC pool falls apart as partners follow different paths
Beyond the pageantry, China and Greece mean business Li visit to Athens may accelerate bilateral projects in shipping and other sectors
Maersk has a bright future without P3, say analysts Macquarie Equities Research plays down the impact of Beijing rejection on the largest box-shipping line
LNG's 50-year voyage of discovery The shipped fuel that will reshape the global energy-supply map
Felixstowe electrifies RTGs Trial converts four diesel units to save energy and improve air quality
It's just like watching Brazil Global Gateways looks at which ports are on the ball and which are heading for an upset
The life of Pao New biography of Hong Kong shipping legend who was Andreas Sohmen-Pao's grandfather
VLGCs: a trend-bucking market? Despite the orderbook being 50% of live fleet, the market has unique growth dynamics
FMC says China stuck to 30% market-share threshold The US body approved the P3 Network as it has no interest in the Asia-Europe trade
BW Group bats away Avance Gas challenge Dominant VLGC player says young pretender needs time to achieve ambitious growth goals
Swire Bulk confirms orders at Imabari Four handysize carriers to be delivered in 2016
Nordea offers tighter spreads for big-name shipowners As banks start lending again, Kjelsrud warns of a downside risk to excess liquidity
Terminal operators declare 'business as usual' after Beijing blocks P3 DP World and APM Terminals say they are unaffected by Ministry of Commerce decision
Week on Wall Street | June 20 Words from Rodgers, a joke from Bugbee and other musings from Marine Money Week
Brazil kicks off a boost in capesize rates Vale's re-entry helps support a livelier market
JMU secures East Med VLCC pair Japan Marine United (JMU) has secured an order for two VLCCs from Greek owner Eastern Mediterranean Maritime (East Med). The two 318,000dwt next-generation, energy-saving eco-design vessels have been on the books since early in the year but the order has only recently been revealed. Delivery is
CSC mulls tanker acquisition Ceylon Shipping Corporation (CSC) is considering acquiring a tanker to transport crude oil as part of its re-fleeting plan under which two bulkers are being built by China's AVIC Weihai. CSC general manager S Obadage told IHS Maritime that the requirement is for a vessel of about 150,000dwt. "We're
3 Maj wins Wisby tanker pair Croatian shipbuilder 3 Maj Shipyard has won an order for two asphalt/bitumen tankers from returning Swedish shipowner Wisby Tankers. The two 15,000dwt vessels will have an overall length of 133.26m, beam 23m, and depth 12.4m. Their delivery is scheduled for December 2015 and March 2016. The
SapuraKencana poised for growth Malaysia-listed SapuraKencana Petroleum is expected to enjoy stronger quarters in the future, according to CIMB analyst Norziana Inon. The company had clinched much-awaited platform fabrication contracts worth around MYR1.3Bn ($403M), Inon said. The new contract will boost its existing order book to
DSME stocks plunge on investor concerns Shares in South Korea's Daewoo Shipbuilding Marine & Engineering (DSME) have plunged in value because of concerns over the Yamal project and a government stake sale. However, the concerns are unlikely to materialise, according to an analyst. Samsung Securities' analyst Youngsoo Han commented in his
Tanjung Offshore, Fircroft finalise deal Malaysia-listed Tanjung Offshore (Tanjung) has finalised a deal with UK-based recruitment firm Fircroft Group to supply skilled contract workers for the oil and gas sector in Malaysia and overseas. The joint entity will be known as Fircroft Tanjung and be responsible for the recruitment of around
Chinese yards' new orders up 108% y/y Chinese shipyards' new orders surged by 108% year on year to 34.7M dwt in the first five months of 2014, the China National Association of Shipbuilding Industry (CANSI) said today. During the same period, newbuilding orders placed at Chinese yards for export rose by 167% y/y to 32.9M dwt. The
China goes all out with major island building project in Spratlys China is conducting dredging operations at three reefs in the disputed Spratly islands in the South China Sea, according to data provided by IHS Maritime . GPS tracking of a dredger using AISLive ship tracking data has confirmed Philippine claims that China has been reclaiming land at five
Wan Hai and three partners start new service Wan Hai Lines (WHL), COSCON SEA, China Shipping, and PIL will launch an Asia-Pacific to Pakistan weekly direct express service on 25 June. The route, also known as the Pakistan Mundra Express (PMX), will cover China and Southeast Asia to Karachi in Pakistan and Mundra in India. The service will
Charity launches seafarers fund Seafarers charity Apostleship of the Sea (AoS) yesterday formally launched the Maritime Emergency Fund. The fund is disbursed as small sums to help seafarers in difficulty, AoS national director Martin Foley said at the launch event on board HQS Wellington in London. As soon as a local chaplain or
Insight: China rejects Maersk, CMA, MSC P3 Network Key Points: 1. P3 faced strong challenges and opposition from Chinese ship owners from the onset. 2. China is the largest container trading country in the world and
KSS Line fixes another VLGC to Petredec South Korean gas and chemical shipping company KSS Line said today it has time-chartered another very large gas carrier to Singapore-based LPG trader Petredec. The company, led by CEO Lee Dae Sung, said in a Korea Exchange filing that it has time-chartered the ship for five years to Petredec at an
Expert casts doubt on MH370 search Senior Australian maritime experts have raised doubts that MH370 will ever be found. Speaking to IHS Maritime, Rod Nairn, former Australian Navy hydrographer and CEO of Shipping Australia, said the chances of ever finding the wreckage in unchartered waters up to 5km deep were so slim he would be
Two vessels collided off Shanghai Two bulk carriers collided off the coast of Shanghai, with no injuries reported, according to China's Donghai Rescue Bureau. The 2009-built 33,000dwt He De, a bulk carrier, collided with 1986-built 51,400dwt Guo Dian 2, another bulk carrier, about 3nm southeast of Jigu Reef, off Shanghai, on 17
ContainerPort Group Names New President Russel A. Graef, ContainerPort Group's new president.ContainerPort Group has promoted Russel A. Graef to president, effective immediately. Graef succeeds Richard "Dick" Coleman, who retired from the Cleveland-based company. Graef is one of the founding members of ContainerPort Group, which has provided inland terminal transportation and trucking services to container carriers, forwarders,...
What is an e-commerce warehouse? Tens of millions of square feet of logistics warehousing is going up in China as developers pile into the market and sign up retailers desperate for facilities to support their distribution and order fulfillment needs. But what exactly is an e-commerce warehouse? First, let's look back at the evolution of retail...
Port of Charleston expects container traffic gains The Port of Charleston's containerized throughput was up 16.2 percent year-over-year in May. Full-size chart The South Carolina Ports Authority's board of directors has approved a 2015 fiscal year plan that includes expectations of gains in container traffic. Plans for the new fiscal year, which begins July 1, includes an anticipated 975,000 container...
CSCL honored by Dollar Tree for 3rd straight year China Shipping Container Lines has received Dollar Tree's "Carrier of the Year Award" for the third consecutive year. CSCL is a core carrier of Dollar Tree. The retailer bases its annual award on monthly score cards with criteria that include ranking of carrier performance, customer service at origin and destination, handling...
European shipowners press lawmakers on security plan European shipowners are asking the European Parliament and the Council of Ministers to endorse a maritime security plan aimed at safeguarding ships around the globe. The European Commission and the European External Action Service joined forces to write the security plan earlier this year. Today, the European Community Shipowners Association asked...
No end in sight to China's logistics property needs Logistics property developers in China continue to supply new warehouses to support a seemingly insatiable appetite for e-commerce distribution facilities. The scale of the logistics property development underway in inland cities is staggering. Tens of millions of square feet of space is being constructed by retailers across the country, mainly to...
SCFI: Europe, US index rates ex Shanghai drop across the board Spot rates per 40-foot container to the West Coast continued a five-week slump. Full-size chart Rates from Shanghai to the U.S. and Europe lost ground this week. Spot rates from Shanghai to the U.S. East and West Coasts, as measured by the Shanghai Containerized Freight Index, both fell. Spot rates per 40-foot container...
China wins tender to build port in Israel Pan Mediterranean, an affiliate of the Chinese government's China Harbour Engineering Company, has won a preliminary tender to build a new port on the Mediterranean coast of Israel, according to the Israeli business daily Globes. Sources told Globes yesterday that in a few days Israel Ports Development & Assets Co. will ask...
TSA reduces air cargo screening paperwork WASHINGTON - The U.S. Transportation Security Administration will no longer require the air cargo industry to report its pre-screened volume monthly, saving shippers and forwarders hundreds of hours of time. Previously, passenger carriers, along with more than 1,200 forwarders and shippers in the U.S., had to provide monthly reports to the...
UP beefs up intermodal service Union Pacific Railroad has added 11 domestic intermodal train starts between Northern California and Portland, Oregon, and Chicago this year, potentially allowing the carrier to grab business from customers frustrated with BNSF's ailing service. Following a ramp-up in its premium service on its Portland-Chicago line in May, UP now offers westbound...
E-tailing's Trojan Horse Satish JindelEverywhere you turn, people are bullish on the future of online retailers. It's reflected in Amazon's stock price, which has grown rapidly thanks to ... free shipping. What's surprising is that the frenzy of blind investing in Amazon's stock ignores time-tested stock valuation measures and fails to recognize that there...
Ocean carrier rate revision roundup for June 20 Several container lines have planned general rate increases in multiple trade routes to take effect in July, although any gains achieved could be temporary as overcapacity and sluggish global demand continue. According to a new Stifel survey, the overcapacity problem in the maritime market will not have a quick fix. Many...
Port of Felixstowe upgrades equipment to improve efficiency The Port of Felixstowe has converted four diesel rubber-tire gantry cranes to electric to improve its operational and environmental efficiency. The cranes, which were originally manufactured by ZPMC in Shanghai, were converted to electric power by Kalmar, part of Cargotec. The RTGs were modified to include an automatic drive-in collector unit...
Weak auto shipments hit Japanese exports to US Japan's imports and exports both fell in value terms for the first time in more than a year. Full-size chart Japan's exports to the United States fell for the first time in 17 months in May on a year-on-year basis, largely due to a sharp decline in auto shipments, according to preliminary...
Sea, air outlooks fall on overcapacity Overcapacity problems in both maritime and air freight markets will continue to hurt the industry in the coming months, according to a new Stifel survey. Stifel said present and future expectations declined in all measured trade lanes on its Logistics Confidence Index in June. The combined LCI fell for sea and...
Pressure off G6 and CKYHE as alliances focus on global networks The G6 and CKYHE alliances that were to have competed head on with the P3 Network may be feeling an easing of pressure after China's shock rejection of the vessel-sharing agreement, but both are pushing ahead with the expansion of their networks. The G6 Alliance of APL, Hapag-Lloyd, Hyundai Merchant Marine,...
Nova to close doors Partners in Nova Tankers have agreed to shut down the VLCC pool at the end of this month.
S&P activity slows Low freight rates and the lacklustre performance of the Baltic Dry Index (BDI) appear to be wreaking havoc on the sale-and-purchase market.
Analyst whirlwhind Veteran analyst Omar Nokta is heading for the research job at Clarksons' banking arm, while the pundit now in that seat is about to become chief financial officer at private owner TBS International.
CSDC wins tanker race China Shipping Development Co (CSDC) has snapped up a 20% stake in tanker owner Shanghai Northsea Shipping.
Nokta leaving, GHS confirms Global Hunter Securities (GHS) has confirmed a TradeWinds report that top analyst Omar Nokta is leaving the firm "to pursue other opportunities," but he will stay on for a few months as GHS seeks his successor.
Bonaparte killed off French giant GDF Suez and Australia's Santos have abandoned their plans for the $5.1bn Bonaparte floating LNG (FLNG) development in the Timor Sea.
Nippon eyes Valemax deal Japan's biggest steelmaker may pursue a deal to charter more Valemax bulkers to cut costs.
More grounding charges The master and chief officer of a cargoship that grounded in New Zealand are facing charges of damaging a reef.
Mistakes in focus We take a look at what was said in the market over the past week.
MISC supersizes loan Malaysian state-controlled shipowner MISC has set up a new loan deal worth $1.55bn.
Havyard extends IPO Norway's Havyard Group is giving investors five more days to buy shares in its Oslo IPO.
Fisher buys again UK shipping group James Fisher has continued to snap up smaller niche players with a move for Testconsult.
Ferry boss jailed Sydney Ferries' Geoff Smith gets two years for living off his company credit card.
More Vinalines arrests Vietnamese state shipowner Vinalines has been rocked by another fraud probe.
FMC: P3 share too high US Federal Maritime Commission (FMC) chief William Doyle has said China rejected the P3 Network boxship tie-up because it stuck to a 30% market threshold.
Terntank doubles up Denmark's Terntank has added two optional LNG-fuelled products tankers to its order at Avic Dingheng in China.
Six pack for Coastal Coastal Contracts has won newbuilding deals for three offshore support vessels (OSVs) and three tugboats worth MYR 180m ($56m).
Chinese eye India trade Four Asian container liner operators have teamed up to launch a new service to the Indian subcontinent.
CNCo opts for Imabari China Navigation Company (CNCo) has opted for a Japanese shipyard for its latest series of bulker newbuildings.
FMC: P3 decision should not be a bar to other agreements The decision by China earlier this week to turn disallow the P3 Network should not be an obstacle to the operation of other vessel-sharing agreements, said Commissioner Richard Lidinsky of the Federal Maritime Commission.
AAR measures record intermodal growth
Canadian truckers push back against ag inspection fees The Canadian Trucking Alliance said it is unfair for carriers to shoulder the increase themselves because they don't own the goods. CTA said that it seems to be easier to "go after" truck drivers than shippers.
TSA lifts paperwork rule for air cargo screening
LLamasoft to integrate Cassidy Turley real estate data into design tool Cassidy Turley cost and operating expense data will be included in LLamasoft's cloud-based supply chain design reference and benchmark data offering. LLamasoft has struck a number of similar data partnerships in recent months.
CargoSmart releases new version of mobile schedules app
NLRB complaint alleges unfair labor practices by drayage company The National Labor Relations Board has consolidated complaints against Green Fleet Systems that allege labor law violations and the violation of a settlement agreement reached with the International Brotherhood of Teamsters.
Houston MGO prices fall Local players report tight avails at US Gulf port.
Weekly Global Market Report A weekly price roundup from bunkering hubs around the world.
LNG-powered vessel inaugurated Inland waterway vessel to operate on the Rhine, Main and Danube rivers.
Relax LNG storage rules, says expert Russian rules would make LNG bunkering difficult.
IFO prices firm in Fujairah But prices flat in Suez.
Bunker prices firm across Europe Crude values pulling up bunker prices.
Gibraltar appoints new port captain Bob Sanguinetti 'will drive growth and development at the port', says government minister.
Wind energy 'could halve CO2 emissions, fuel use' With incentives, use of wind power could be viable, research says.
ECA price hikes: Longer routes most vulnerable, says ferry group More evidence emerges that ECA-related fuel costs will push prices up.
Chinese to step up investment in Greek hub Pireaus is 'China's gateway to Europe'.
Dan-Bunkering makes senior appointment in US Evgeni T Nordberg joins company's Houston office.
Northwest Passage 'will boost Chinese trade' New Arctic guidelines to provide 'comprehensive, practical and authoritative information' for Chinese vessels.
Closer ties form between PetroChina and Cosco Companies already operate bunkering player Chimbusco.
Asian prices lose direction Prices continue upward trend in Singapore, Hong Kong.
First LNG-fuelled MR tanker orders 'not far away' Particularly beneficial for vessels trading in the North American ECA, says DNV GL report.
New accredited marine fuels supplier in Singapore Firm is the first player to enter MPA's list of accredited suppliers this year.
OW Bunker: US marine fuels market changing US fuel oil production will be affected by the growth in shale oil output.
Vessels in alleged illegal bunkering act Malaysian authorities say 250,000 litres of MGO were being transferred.
Italian bunker player exits market Sells bunker barges to local player.
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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