VLCCs wanted as tonne miles are expected to rise High levels of inquiry from buyers
NewLead takes delivery of third modern handysize bulker Greek owner awaits approval to trade on OTCQB market but vows to continue rebuilding fleet
Fednav handysize bulker heads to China through the Northwest Passage Voyage could be one of two high north sailings for Canada-based owner
2M completes European self-assessment MSC and Maersk Line also notify European Commission on planned alliance
Maersk confident in China's competition regime despite P3 rejection Skou says Danish line 'not unfairly treated' as Chinese regulators draw criticism from foreign lobbyists
Frank Chapman takes over from Fredriksen at Golar LNG New chairman steps in as Golar focuses on integrating gas supply chain
Cash buyers pay 'unthinkable' rates for speculative deals GMS warns of a two-tier market as breakers turn down similar prices
Reefer operators must play box lines at their own game Brave niche players can fend off competition from conventional container lines
Welcome to LNG shipping's three-tier market Big difference in spot rates depending on ship
Rotterdam tackles LNG fuel safety Port plans fire training and guidelines on responding to incidents involving gas
IUMI 2014: Sanctions should be similar in scope and nature US and European Union governments could help insurance industry
IUMI 2014: China marine insurance posts negative growth Cut-throat competition creates challenging outlook, says Munich Re's Ip
August is a quiet month for Japanese shipyards The country's shipbuilders land 10 bulk export orders in August
IUMI 2014: committees set out their stalls Kern and her fellow chairs outline the themes and agendas for this year's conference
IUMI insights: putting the house in order Insurance top brass get ordinary business done and dusted
IUMI insight: access denied The media lunches as insurance committees meet in camera
IUMI 2014: Hull and cargo markets stagnant Fleet grew but global marine premiums fell nearly 2% last year, Hong Kong summit hears
Sekimizu to step down as IMO secretary-general at the end of 2015 IMO secretary-general cites concerns for his wife's health for decision not to seek re-election
Fednav attempts Northwest Passage voyage Fednav has announced its first attempted commercial transit of the Northwest Passage by its icebreaking bulk carrier Nunavik using satellite navigation. Canada's Arctic shipping pioneer Fednav said the Polar Class vessel had sailed for China from Deception Bay in Quebec on 19 September with a full
Boxship broker warns against SECA trade disruptions Container ship traffic to and from ports in northern Europe could be facing serious operational problems during the transition to reduced sulphur limits in marine fuel valid from 1 January 2015, a leading Hamburg shipbroker has warned its principals. Many owners may struggle to retrofit feeder
KoFC-Busan Bank collaboration offers shipping loans Korea Finance Corporation (KoFC) will collaborate with Busan Bank in offering loans to South Korea's small- and mid-sized shipping companies. KoFC and Busan Bank signed an agreement to provide indirect loans related to ship financing. According to the agreement, KoFC will offer low-interest loans
Oriental Energy to charter another five VLGCs Chinese LPG trader Oriental Energy announced today that it had signed a 10-year time charter contract with Hartmann Schiffahrts for five 84,600m³ VLGCs. The chartered-in newbuilds will be delivered between May 2017 and January 2018, a company stock filing said today. Oriental Energy has the option
KOGAS shortlists companies for LNG carrier tender Korea Gas Corporation (KOGAS), the world's biggest LNG importer, has shortlisted seven companies in its tender to time-charter six LNG carriers for twenty years. The seven candidates who submitted application forms to be assessed on their ability to perform the contract - H-Line Shipping (Hanjin
Taiwanese liners under pressure for profit in 4Q14 Taiwanese container shipping companies are under great pressure to increase their profitability in the 4Q14 as the peak season ends in this quarter, Taiwanese analysts said. The Transpacific Stabilization Agreement (TSA) proposed a monthly rate hike of general rate increase (GRI) by at least
US imposes conditions of entry for vessels from Cambodia All vessels arriving in the US from certain Cambodian ports will have conditions of entry imposed starting 29 September, the US Coast Guard has said. Previously, two ports, Phnom Penh Autonomous Port and Sihanoukville Autonomous Port were exempted. "We no longer find that those two ports are
Hong Kong's marine and cargo insurance premiums total $230M in 1H14 The gross premiums of marine and cargo insurance totalled HKD$1.8Bn ($232M) in the first half in 2014, CY Leung, chief executive of Hong Kong, said today. In 2013, gross premiums of marine and cargo insurance amounted to HKD$2.1Bn ($260M), Leung said. Hong Kong offers a variety of marine insurance
Indonesian courts dismiss STX's appeal The Indonesian courts have dismissed South Korean shipbuilding chaebol STX Corporation's appeal against a 2013 decision ordering it to pay its mining subsidiary PT Indoasia Cemerlang KRW97.3Bn ($93M). Through a Korea Exchange filing, STX Corporation announced on 19 September that the Jakarta High
Recycling market shocked by boxship scrap price Dauelsberg's 1995-built container ship Altavia has fetched $535/lt ldt for recycling in India, surprising many market watchers with what appears to be a speculative purchase. The Polish-built 2,063teu ship was sold for $5,589,680. The price is above the average price of $450/lt ldt for bulkers and
Mermaid Maritime wins $45M subsea contracts Thailand's offshore oilfield service provider Mermaid Maritime has said that its Middle Eastern subsidiary has clinched two subsea contracts. Diving equipment, remotely operated vehicles, divers and other crew will be provided by Mermaid Maritime to service the contracts, which are worth about
Asian Shipowners' Forum urges governments to fight fuel theft The Asian Shipowners' Forum (ASF) has called on governments to work harder together to fight pirates targeting tankers in Southeast Asian waters. In a statement released after its safe navigation and environment committee's meeting in Shanghai on Friday, the ASF said it is very concerned that the
More VLGC orders seen in 2015-16 Plans by the US port of Portland to build a railway-linked terminal to export propane to Asia could stimulate even more orders for very large gas carriers (VLGCs), said CIMB Securities. Propane is a component of LPG while VLGCs are the main workhorses of the seaborne LPG trade. Portland is
TOTE secures financing for LNG-fueled ships TOTE Shipholdings and Saltchuk Resources have secured a $324.6 million Maritime Administration loan guarantee for construction of two container ships that will be fueled by liquefied natural gas. Marad said TOTE and Saltchuk qualified the Title XI loan guarantees because the vessels represent an advancement in shipbuilding technology and being constructed...
US diesel prices hit 27-month low U.S. diesel prices slipped 0.6 percent or 2.3 cents to $3.778 per gallon as of Sept. 22. Full-size chart U.S. diesel prices slipped0.6 percent or 2.3 cents to $3.778 per gallon on Sept. 22, according to the U.S. Energy Information Administration, which brought the price to its lowest level since July 16, 2012. This...
US bill would prevent publication of trucking safety scores U.S. House Rep. Lou Barletta, R-Pennsylvania, has introduced a bill that would prevent the publication of safety scores for truck and bus carriers and revamp the Federal Motor Carrier Safety Administration's scoring system. The Safer Trucks and Buses Act, H.R. 5532, would specifically address issues with the FMCSA's Compliance Safety Accountability program,...
US intermodal price index falls for first time since 2013 Full-size chartThe average amount intermodal providers charged customers for shipping a U.S. intermodal unit declined last month on a year-over-year basis, the first time since January 2013. The dramatic change likely reflects the easing of equipment constraints and that Labor Day came earlier this year, said Joni Casey, president and CEO...
Near-shoring, tight capacity, highlighted in 3PL CEO survey Near-shoring of manufacturing from China to Mexico, tight U.S. transportation capacity and competition from Amazon as a logistics provider were prominent topics in an annual survey of 27 third-party logistics CEOs sponsored by Penske Logistics and released today. Seventy- five percent North American CEOs said some of their customers have shifted...
Stifel: Growth in air, sea shipments expected in second half Stifel's combined Logistics Confidence Index for sea and air freight in September increased 6.2 points year-over-year to 59.2. Full-size chart Air and ocean freight are expected to see "good" trade volume growth through the third and fourth quarters of 2014, especially in air freight, given a strong peak season outlook and a...
European shippers attack 2M Alliance in letter to FMC The European Shippers Council attacked the proposed 2M vessel-sharing agreement in a letter sent last week to the Federal Maritime Commission but is unlikely to convince the U.S. regulatory agency to reject the agreement involving the world's two largest container lines. Even though the 2M members - Maersk Line and...
Maersk, MSC, Evergreen stand out in 1H container line rankings U.S. containerized trade increased 2.6 percent year-over-year in the first half of 2014, with just three carriers - Maersk Line, Mediterranean Shipping Co. and Evergreen Line - accounting for 28.4 percent of all trade. In the process, the three largest ocean lines operating in the U.S. trades increased volumes by...
Florida East Coast Railway boosts intermodal capacity Florida East Coast Railway will boost its intermodal capacity with new equipment that will help further its strategy to convert existing trailers to containers to provide double-stack transportation service. The Class II railroad has acquired 500 new 53-foot containers and 100 chassis, as well as 50 refrigerated trailers to cater to customers...
Ruddy, Tibbets get new posts at Virginia port Joseph P. Ruddy has been appointed chief innovation officer at the Port of Virginia, and Shawn Tibbets will succeed him as chief operations officer. CEO John F. Reinhart, who joined the port last February, said the changes complete the reorganization of the port's senior leadership team. Tibbets had been senior vice president...
iPhone 6 aside, air freight surges are not what they used to be, FedEx says Even as air freight space out of China has tightened because of the launch of the Apple iPhone 6, the traditional air freight surges associated with major electronics product launches are not what they used to be. Reports have surfaced in recent weeks of tight air freight capacity because of heavy...
Railroads plan equipment upgrades, more hirings to improve service Caught flat-footed by a harsh winter and an unexpected rise in U.S. freight, the rail industry can't create capacity overnight, but it can make sure it's using the capacity it has to the fullest. The continued deployment of locomotives and train crews over the coming weeks is particularly critical. U.S. economic...
Kerry Logistics expands to tap growing Asia-Oceania trade Kerry Logistics aims to tap growing trade between Asia and Oceania, and between Australia and New Zealand through a joint venture with a New Zealand-based global freight forwarding company. The joint venture with Lead Logistics will include air and ocean freight services, customs brokerage and domestic forwarding. The joint venture "not...
The intermodal congestion challenge Several major U.S. ports are experiencing congestion that is affecting the drayage trucking community and other elements of the intermodal supply chain. In addition, JOC.com and The Journal of Commerce have reported on port congestion around the globe. Marine terminals are among the most visible targets when addressing problems in the...
Drewry: Specialized reefer ships down, not out Container lines will continue to expand their share of the refrigerated cargo market, but specialized reefer carriers can survive if they diversify and pick their niches carefully, Drewry Maritime Research says in its annual analysis of the reefer shipping market. Specialized reefer ships have been losing market share for years to...
Italy's Taranto terminal faces murky future after losing key service The southern Italian port of Taranto, once a leading transhipment hub, faces an uncertain future after losing its last long-haul intercontinental service in the latest shake up in the fiercely competitive Mediterranean container market. Evergreen is switching its UAM Mediterranean-Far East-West Coast North America service to the Greek port of...
Carrier savings about more than just bunkers, say lines The savings to be gained from a container line getting more miles to the gallon are immense. Take NOL Group: In just over two years the Singapore-based company managed to save $1.2 billion with more than half the savings coming from cuts in bunker consumption and better network management at...
Rising exports from inland factories drive Shanghai throughput Shanghai may be the busiest container port in the world, but almost half the boxes that cross its wharves every year are first carried down the mighty Yangtze River from manufacturing hubs deep inland. From January through August, Shanghai handled 23.44 million 20-foot containers, 5.3 percent up on the same period...
TIGER grants 2014: Millions for US ports [Slideshow] U.S. ports are under increasing pressure to modernize their facilities to handle larger vessels and keep their existing infrastructure up to par. Fortunately, for some ports, Uncle Sam is giving them a boost via Transportation Investment Generating Economic Recovery (TIGER) program. Seven ports will receive about $73.4 million in grants,...
Safe strikes loan deal Safe Bulkers has inked a $210m loan deal with DNB Bank to help finance a pair of newbuildings.
Crowley inks LNG deal Crowley Maritime has struck a deal with a small scale LNG supplier to move containerised volumes to Puerto Rico.
US to join ReCAAP The United States is poised join the Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia (ReCAAP).
TOTE wins cash pile The US government has agreed to provide nearly $325m in loan guarantees to shipowner TOTE.
Arison cashes in $8.5m stake Carnival chairman Micky Arison has sold off $8.55m in shares of the Miami cruiseship giant as part of an ongoing effort to reduce his stake.
Golar FSRU frozen out Dubai is swapping its Golar LNG-controlled floating storage and regasification unit (FSRU) for a larger vessel supplied by Excelerate Energy.
NewLead adds another Greece's NewLead Holdings is eyeing profit of $1.7m per year from its new handysize eco-bulker.
Chapman takes hot seat Golar LNG has confirmed the appointment of Frank Chapman as its new chairman.
Rongsheng still waiting China Rongsheng Heavy Industries continues to be kept waiting on a state-sponsored restructuring.
Laker refloated The biggest bulker working the Great Lakes has been freed after running aground in Duluth.
Vessels needed A lack of qualified vessels may result in the delay of a new shipping route between India and Bangladesh, initially planned to commence next month.
DNB sees Citgo spur PDVSA's pending sale of US business Citgo could offer a shot in the arm for the tanker market, DNB Markets says.
Navios wins term deal Greece's Navios Maritime Acquisition (NNA) has fixed a newbuilding products tanker for two years with profit sharing.
Vallianz takes shipyard Singapore's Vallianz Holdings has agreed to acquire an Indonesian shipyard for SGD 19.8m ($15.6m), in an effort to become more cost-effective.
Radiance takes control Singapore offshore owner Pacific Radiance has taken full control of its domestic shiprepair business.
Cosco cares for core China Cosco Holdings Co (CCHC) has pledged to focus on its boxship and bulker operations in weak markets.
Maersk buyback underway AP Moller-Maersk has snapped up almost $100m worth of its own stock as it kicked off its first ever share buyback plan.
Crews battle Norway A Spanish seafarers group is claiming a serious violation of labour rights committed by the Norwegian government, which refuses to pay their pensions.
Vigor wins ferry double It is the first time Alaskan ro-paxes will be built in the state, according to governor Sean Parnell.
TAS targets China Malaysian shipyard TAS Offshore is teaming up with a Chinese businessman to build and sell offshore ships in China.
Fredriksen eyes larger slice John Fredriksen says he may boost his dominant holding in offshore driller Seadrill to take advantage to its stock retreat.
HH ro-pax hits dock Two people were injured after a Danish ro-pax hit the side in Helsingborg on Sunday.
CSIC opening up? State shipyard group China Shipbuilding Industry Corp (CSIC) is set to open up to new investors through share sales.
VLCC prices climbing Buying interest in crude tankers continued to ease up VLCC asset prices, Clarksons says.
GSI raising cash State-owned Chinese shipbuilder Guangzhou Shipyard International (GSI) is selling off non-core assets to raise money for new investments.
Dauelsberg in scrap coup German owner Herm. Dauelsberg has secured a premium price for one of its oldest containerships.
Bharati sells wind unit Restructuring Indian shipbuilder Bharati Shipyard has sold its wind power business as it seeks to focus on core operations.
Ro-pax arsonist jailed A UK passenger who caused a fire on a DFDS ferry after drunkenly trying to light a cannabis bong has been jailed for 11 years.
Italian ferry runs aground A Grimaldi Group-owned ro-pax ferry ran aground off the Greek island of Corfu over the weekend.
ASF calls for action The Asian Shipowners' Forum (ASF) has called for more government action to combat the theft of fuel from ships.
EPA to award grants for reduction of diesel emissions at ports Up to $5 million in funding available.
USCG: San Francisco fuel spill under investigation Source of leak has been secured but cleanup still underway.
Russian fuel oil exports fell back in August Volumes down 3.3% month-on-month.
Surge in engine blackouts feared at ECA borders in 2015 Conservative estimate based on California numbers suggest over 100 incidents relating to fuel switching in the English Channel.
Online bunker trading platform launched Matches buyers to sellers anonymously with price comparison.
Shipping: 2014 marks the begining of a recovery European bank says factors necessary for a recovery of the shipping industry are now in place.
Fuel smuggling case: Multiple accounts used Payments made in Singapore.
Singapore 380 cSt prices have fallen 8.5% since June Weaker prices could be stoking demand.
Antwerp to benefit from 2M alliance Zeebrugge, however, will lose two cargo services.
Rotterdam prepares for potential LNG bunkering accidents Emergency response guidelines to be ready by year-end.
Ships arrested over weekend Passenger ship and cargo vessel held in Singapore.
US port on target to meet emission reduction goals Port of Long Beach to 'meet or surpass' its targets.
Shipowners express fears over regional piracy Rise in attacks lends itself to market distortion.
New site planned for US biofuels plant Plant to convert woody biomass into renewable fuel for ships and planes.
Chinese fuel oil player sees accounts frozen Shanghai Fuel Co (SFC)'s petroleum product business has been largely suspended.
Antwerp wants input on LNG bunkering preferences Data to be used to 'refine' building specifications.
Titan Petrochemicals holds onto bunker business Bunkering among three other businesses to survive restructuring process.
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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