Aframax tankers to gain from Mexican energy reforms Country takes first practical steps to reverse decline in exports
Shippers welcome FMC P3 monitoring programme US body will require advance notification of any service modification that changes average weekly capacity
CSAV decision on Hapag-Lloyd merger faces delay Extra time provided for absentees from vote
MOL predicts G6 to have two 18,000 teu loops at most in long run Alliance member reckons G6 already has enough competitive ultra-large boxships
New shipping Bill could make Spain more arrest friendly Ships flagged in non-ratifying states to the 1999 Arrest Convention could be seized
Nanjing Tanker faces delisting after it posts fourth annual loss Auditor raises alarm on company's 'operational continuity'
China Cosco orders eight bulkers at unit of CSIC Total cost for four capesize and four handymax ships is $312m
Helle Gleie quits SSI Sustainable Shipping Initiative seeks new director as it moves into more active phase
Avance Gas does not rule out future New York listing Fredriksen-invested gas company in strong position to raise capital
Fall in Asia-Europe rates slows down Carriers and customers brace for the coming rate increases
Still a long way to go for P3 carriers Chinese regulators could be harder to convince than the FMC
Mercator confirms purchase of Varun LPG vessel Troubled Indian gas specialist says it will use sale proceeds to pay creditors
Access to capital will likely entrench a two-tier shipping world Larger shipowners benefit, while smaller vehicles unlikely to attract new money
P3 scrapped plans for supplier joint contracts to help win FMC approval Further details of FMC monitoring programme revealed
The Week on Wall Street | March 21 Free to read: Shipping news and gossip from the Capital Link 8th Annual Invest in International Shipping Forum
Time of transition World events will have a major impact on the choice of fuels for the next generation of ships
Bergen Group reduces shipbuilding venture stake Bergen Group, the listed Norwegian offshore and shipbuilding group, has decided to sell more shares in its former shipbuilding division than originally envisaged, thereby reducing its exposure to the shipbuilding industry even further
Wärtsilä's Vaasa workforce protests at cuts All 800 workers at Wärtsilä's marine and power station factory marched out of their jobs yesterday when it was announced that the majority of the company's 142 job cuts in Finland would be axed in Vaasa by June
Eagle Bulk faces new deadline To avert default, Eagle Bulk has until 15 April to conclude restructuring talks with its bank syndicate
Havila Shipping signs NK450M refinancing deal Havila Shipping, the listed Norwegian offshore services vessel owner, has signed an agreement with its banks for a NK450M ($78M) loan
Avance Gas Holding targets $100M IPO Avance Gas Holding Ltd, the VLGC owner in the process of going public in Oslo, is targeting a primary issuance of approximately $100M in new equity
Transatlantic to raise SK150M through rights issue The board of Rederi AB Transatlantic, the listed Swedish industrial shipping and offshore services group, plans to raise SK150M ($19M) through a rights issue to continue its restructuring programme
Ocean Carrier Rate Revision Roundup for March 21 Several container lines have scheduled rate hikes in multiple trade lanes in April and May, although any increases achieved could be temporary, as overcapacity continues to negatively impact carriers' control over freight rates. At JOC's TPM 2014 conference, panelists said container lines will continue to face challenging times in 2014 and...
CSAV Shareholders Overwhelmingly Back Merger With Hapag-Lloyd Headquarters of Hapag-Lloyd and CSAV.Shareholders of Chilean ocean carrier CSAV today overwhelmingly voted in favor of a planned merger with Germany's Hapag-Lloyd that would create the world's fourth-largest container shipping line. The carrier also secured backing for a $200 million capital increase to aid the financing of seven 9,300-TEU container ships...
Transshipping's Disadvantages Whenever the word "transshipping" comes up, I'm instantly reminded of the old football maxim regarding the forward pass that states "three things can happen ... and two of them are bad." This is because transshipping, although generally considered a legal term, also carries a negative connotation because of its known...
CN Faces Imminent Strike Threat The union representing about 3,000 conductors and train and railyard workers at Canadian National Railway could strike as soon as March 22 after rejecting a tentative agreement yesterday. CN said it has proposed binding arbitration to reach a contract agreement with the Teamsters Canada Rail Conference - Conductors, Trainpersons and Yardpersons....
Vancouver Port Strike Could Reduce CP, CN Intermodal Traffic A continued truck strike at Port Metro Vancouver could cost the major Canadian freight railroads intermodal business and further hamper the export of containerized forest products. The strike, now in its third week, could spur shippers to shift cargo to ports in the U.S. Northwest, reducing intermodal volume handled by Canadian...
Maersk, CMA CGM to Dominate Asia-West Africa Trade Maersk Line and CMA CGM are set to dominate the Asia-West Africa liner trade when they combine their direct services in April. The Danish and French ocean carriers and their Safmarine and Delmas subsidiaries will control 64 percent of the direct effective vessel capacity on the route, according to Drewry Maritime...
Ship Orders on Hold Until Alliances' Impact Is Seen Ocean container lines and the shipowners that lease ships to them are suspending new ship orders for fuel-efficient mega-container vessels until they can assess the impact of the expanding carrier alliances like the P3 Network, the expanded G6 and the CKYHE, and now the new merger between Hapag-Lloyd and CSAV. This...
'Cyber' Cargo Crime Called Growing Threat On Friday afternoon, freight needs to move, fast. A shipper, frantic to find a truck, hooks up with a motor carrier on a load board. They agree to terms, and a truck is dispatched to pick up the load. The only problem is that truck isn't from the party that...
NY-NJ ILA Members to Delay Retirements Some New York-New Jersey dockworkers will delay their scheduled April 1 retirements in a stopgap move to ease a labor shortage at the port. The International Longshoremen's Association and the New York Shipping Association agreed to allow eligible workers to delay their retirements for up to seven months and collect their...
License Threat Fails to Bring Drivers Back in Vancouver A warning by the president of Port Metro Vancouver to striking truckers to report to work today or risk losing the license that allows them to perform harbor work did not have the desired effect. Most drivers did not work today. The port authority said truck traffic was 36 percent of...
Havyard slips in 2013 Norwegian IPO hopeful Havyard has reported a dip in earnings despite revenue jumping by around a third.
New boss for Vinalines Vietnam has appointed a new CEO of state shipowner Vinalines as it aims for an IPO.
Greek capacity rises Greece's tonnage capacity is continuing to rise despite a fall in total ship numbers.
VLGCs top 2013 highs VLGC rates have today passed last summer's peak after a strong run over the past three weeks.
Bergen parts with more Bergen Group has agreed to sell a larger share of its shipbuilding operations to Zaliv Shipyard in a deal which is expected to close within the next two weeks.
Genmar denies double sale General Maritime has dismissed reports it has cashed in a pair of suezmaxes to a Greek owner.
Grupo TMM sheds some red Mexico's Grupo TMM has reduced its loss for 2013 as revenue improved.
Gas first for CNOOC China's CNOOC has ordered Asia's first gas-powered tugs at the domestic Zhenjiang Shipyard.
Suezmax on auction block India has opened the bidding for a Pratibha Shipping suezmax arrested last year.
Khanna targets Nasdaq Pioneer Marine has pledged to continue to pursue an initial public offering (IPO) in the Big Apple following a $75m fundraiser that was met by a lukewarm reception in Oslo.
Cargill in TMT pact TradeWinds digests the digits making the headlines this week.
MISC sheds logistics wing Shares in Malaysia's MISC ended today on a high not seen since September 2011 as it continued with its strategy of selling off non-core assets.
ORIG prices at par George Economou's Ocean Rig (ORIG) has priced its $500m notes offering at 100% par as it looks to refinance other debt.
Mercator seals VLGC deal India's Mercator has confirmed the acquisition of a 1992-built VLGC from loss-making compatriot Varun Shipping.
Quintana back at Sasebo Greek owner Quintana Shipping has returned to Japan's Sasebo Heavy Industries for a third post panamax bulk carrier.
Avance sights $100m Avance Gas is looking to add $100m to its war chest from its initial public offering (IPO) in Oslo.
Havila hauls in loan Norway's Havila Shipping is refinancing maturing notes with a new loan worth NOK 450m ($74.07m).
Blow for Eurotunnel Eurotunnel's MyFerryLink ro-pax operation looks likely to be banned from Dover after the UK Competition Commission (CC) ruled it did have jurisdiction over a probe into cross-Channel operations.
Owner pays Meem creditors A protracted court battle over an arrested vessel involving the world's leading cash buyer, Global Marketing Systems (GMS), has taken a new twist - with the ship's original owner agreeing to settle unpaid dues to creditors.
Red Sea revamp France's CMA CGM Group is launching a new Asia to Red Sea run.
Siva hands trio to Navig8 Siva Shipping of Singapore has pledged three chemical tankers to Navig8's expanding Stainless 8 pool.
Die hard We take a look at what was said in the market over the past week.
MLL and Rickmers split Maersk Line Limited (MLL) and Rickmers-Linie (Americas) have ended their joint venture in the US-flag heavylift market.
Gunvor in the clear Gennady Timchenko has sold his stake in Gunvor in a bid to avoid any fallout for the company from sanctions against Russia.
FMC green lights P3 US authorities have approved the liner alliance between Maersk Line, CMA-CGM and Mediterranean Shipping Co.
EGLE on the clock US operator Eagle Bulk Shipping has been given more time to restructure debt that has fallen into the hands of hedge funds and private equity firms like Oaktree Capital.
Report: Air cargo growth halved by switch to ocean Shippers choosing ocean transport for cargo previously carried by aircraft has cost the air cargo sector almost 2 percentage points of annual growth since 2000, according to research by Seabury Group and the International Air Transport Association.
Amber Road goes public on NYSE The global trade management solutions provider Amber Road went public on the New York Stock Exchange on Friday, offering 20,948,384 shares of common stock in its initial public offering.
U.S., Philippines seek bilateral trade improvements The United States and the Philippines have agreed to a program of expanded engagement in coming months on bilateral, regional and multilateral issues after a two-day meeting Thursday under the Trade and Investment Framework Agreement.
Cathay starts freighter service to Columbus
Weekly GRI roundup Check out our list of general rate increases that were announced this week, including changes from COSCO, Hapag-Lloyd and Hamburg Sud. Also, get the facts on the latest Shangahi Container Freight Index.
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