US sanctions will not hold back Yamal LNG export project, says Novatek Russian gas producer confident that work will continue as planned
Energy sanctions against Russia are self-defeating Why global dependence on Russian gas may outweigh anger over the loss of flight MH17
Indonesia's president elect will talk to miners about export restrictions Bauxite and raw mineral shipments have collapsed as India and Australia fill the gap
Westfal-Larsen pool deal with Saga tackles changing timber and pulp market Fleet of 52 ships aligns with rise in larger forestry and paper companies and shift to Asia
MOL fixture boosts VLCC market rate Vessel will load Middle Eastern cargo on August 3
Tsakos vessel discharges first LNG at Indonesia's new FSRU Rise in power needs sparks expansion of imports
Hapag-Lloyd warns of congestion at US and Canadian ports Bottlenecks emerge after a rush to move cargo amid fears of a west coast strike
StealthGas looks for commercial edge from adding midsize LPG carriers Leading owner of smaller ships wants to offer charterers a more complete package
South Carolina savours a rise in container traffic Volumes handled climb 8% in the 2014 fiscal year
Asian piracy falls, but severity of South China Sea attacks rises Singapore's ReCaap notes eight pirate attacks in the South China Sea, up from five in 2013
Costa Concordia now under tow Vessel due to arrive in Genoa in four days' time
Box Ships wins discount for Commerzbank loan repayment German bank accepts 70% as it continues its retreat from shipping
BHP Billiton reports 20% rise in iron ore production Australian miner anticipates 245m tonne output for 2015
Shipping expects rise in turnover in 2014 HSH Nordbank says 43% of players surveyed are expecting higher profits
CSD underwrites construction of Yamal LNG trio Guarantees of up to $490m for ice-class carriers to built at DSME applies to CSD's joint venture with Japan's MOL
Euronav loss does not dampen hopes for resurgent crude tanker freight market Expansion-minded owner looks forward to improved results in final quarters
US dredger wins Bahrain contract Great Lakes Dredge & Dock (GLDD) has been awarded a $35M dredging contract to support development at Hidd Port in Bahrain. The Oak Brook, Illinois-based dredging company announced on 22 July that the contract, secured with Bahrain's Ministry of Works, is part of a two-phase project to create a 63ha
BV and LR tackle LNG bunkering and ships International classification societies Bureau Veritas and Lloyd's Register are both heavily involved in promoting the adoption of liquid natural gas (LNG) as ship fuel. Bureau Veritas (BV) has published 'Guidance on LNG Bunkering NI 618a', a comprehensive set of guidelines that have the aim of
Italy's cargo ports in flux It is all change at ports on Italy's northwest coast, with Hapag-Lloyd abandoning La Spezia, and Genoa said to have been toppled from its position as Italy's leading cargo port. Last week, German container line Hapag-Lloyd announced it was concentrating its cargo services at its core Italian ports
Panama first gates moved to new locks The Panama Canal expansion project has passed another important milestone with the transfer of the first 3,000-tonne steel gates to the new Atlantic side locks complex. Eight of the 16 rolling gates that will be used for the new locks are already in Panama. The remaining eight will arrive in two
Costa Concordia gets under way The Costa Concordia began its final voyage from the Italian island of Giglio to the port of Genoa shortly before 09.00 local time today. Final preparations for its departure got under way at 06.00. Salvors waited for the arrival of a final ferry from the mainland at 08.30 before disconnecting the
Winning Shipping looks to ship Malaysian bauxite Singapore and Qingdao-based Winning Shipping is said to be in the market for a Supramax bulker to load bauxite in Malaysia. The request has piqued the interest of brokers and chartering managers as bauxite shipments have been hard to come by after Indonesia imposed export taxes on the
Thailand to improve infrastructure Thailand's military government is to develop its rail and road infrastructure as it prepares for ASEAN's economic community next year. "The priority will be on rail transport. This is the difficulty we have faced," said Chula Sukmanop, director-general of the Office of Transport and Traffic Policy
Thailand reveals more about port development Thailand's military rulers plan to develop its ports and water transport system with specific rather than sweeping measures, a government official told a Bangkok meeting today. No major new infrastructure is planned but there will be a dedicated coastal terminal at the country's gateway port of Laem
Business closed in Taiwan as typhoon hits Business across Taiwan is closed today as torrential rain and strong winds are forecast across the island after Typhoon Matmo's expected landfall on its east coast early this morning. Shipping services between Green Island, Orchid Island, and Taitung were suspended from Tuesday for three days.
Prosecution shifts focus to Sewol owner's family South Korean prosecutors have turned their attention to the family of the fugitive owner of the ferry Sewol after the latter's death was confirmed. Yoo Byung Eun, 73, the owner of Chonghaejin Marine, had been wanted for more than two months as prosecutors sought to question him over his alleged
Ezion enters sale and purchase agreement with AusGroup Singapore-listed offshore service provider, Ezion Holdings Limited (EOL), has entered into a sale and purchase agreement with AusGroup for the disposal of Ezion Offshore Logistics Hub and Teras at an aggregate consideration of SGD55M ($44.3M). EOL's primary business involves the operation of a port
HHI develops anti-collision system Hyundai HI said today that it has developed an anti-collision system, the Hyundai Intelligent Collision Avoidance Support System (HiCASS) to ensure safe and optimum navigation of vessels. The system searches the optimum sea routes and prevents collisions by automatically detecting potential
COSCO shipyards win barge, bulker contracts Singapore-listed COSCO Corporation (Singapore) has announced that its shipyards have secured contracts valued at approximately $300M to build one accommodation barge and seven bulk carriers. COSCO (Zhoushan) Shipyard has won contracts from a European company to build one DP3 accommodation barge
Cargo ship goes adrift in South China Sea A general cargo ship went adrift in South China Sea yesterday, according to the National Geospatial-Intelligence Agency (NGA). Rainbow Joy, owned by Ocean Eleven Shipping Corporation, reported sustaining mechanical or operational failure that disabled the ship. Rainbow Joy was drifting in the South
East Sunrise orders 10 platforms Hong Kong East Sunrise Group disclosed that it had placed new orders for 10 jack-up offshore platforms at shipyards of the China Shipbuilding Industry Corporation (CSIC). The new orders will cost a total of CNY10Bn ($1.6Bn), with deliveries scheduled within 18 months from the beginning of the
Paraxylene lull weighs on chemical tankers A quiet period for paraxylene demand is weighing down on the chemical tanker market in northeast Asia. Freight rates for intra-northeast Asia shipments, based on 3,000-tonne parcels, now stand at around $25/tonne, a 12.28% year-on-year decline, according to chemical tanker brokerage SPI Marine. IHS
Military exercises threaten China's air cargo recovery The recent recovery in China's air cargo exports could stall this month as flight cancellations and lengthy delays hit airports across China's eastern seaboard where suspected military drills are wreaking havoc on commercial air space that is already in short supply. Hundreds of flights have been canceled since Monday, and state...
Stifel: Forwarding growth reined in by overcapacity Chronic overcapacity in air and ocean container markets presents a long-term obstacle to profitability of forwarders, which achieve better results when rates are higher, according to Stifel. In a report released today, Stifel said overcapacity in both ocean container and air freight markets will hurt freight forwarders in the long run....
Drivers sue US agency over truck driver safety info Six members of the Owner-Operator Independent Drivers Association filed a class-action suit in accusing the Federal Motor Carrier Safety Administration of unlawfully disseminating reports of driver safety records to potential employers. The FMCSA's Pre-Employment Screening Program compiles records that include a commercial vehicle driver's five-year crash and three-year inspection history. The lawsuit,...
Route clear for US Senate vote on short-term highway bill WASHINGTON, D.C. - The U.S. Senate will vote this week on a House bill that would pump $10.9 billion into the dwindling Highway Trust Fund, keeping funding for road and bridge projects flowing to states until next May. At the same time, the Senate will consider four amendments to the...
INTTRA to focus on digital strategy under new CEO John F. Fay, new CEO of INTTRA.INTTRA has hiredJohn F. Fay as CEO, effective immediately, in line with the e-commerce shipping network's new digital strategy. Fay replaces Ken Bloom, who announced his departure from INTTRA in March 2014. Bloom had been INTTRA's CEO since its founding by six container lines in 2000. Fay most...
Imports drive Barcelona's container growth The Port of Barcelona handled 886,000 20-foot-equivalent units during the first half of 2014, up 7 percent from the same period last year as imports showed a significant improvement. The port, which is positioning itself as the gateway to southern Europe for goods imported from Asia, handled 214,110 import containers during...
Drewry trans-Pacific benchmark loses ground before planned August rate hike The Drewry benchmark spot rate from Hong Kong to Los Angeles dropped $100 this week to $1,800 per FEU. Full-size chart With another week left before carriers in the trans-Pacific lanes attempt a general rate increase of $600 per 40-foot container, spot rates from Asia to the U.S. West Coast dropped once...
ATA urges US Senate to shorten highway bill 'patch' and go long on infrastructure WASHINGTON, D.C. - The American Trucking Associations is urging the U.S. Senate to pass a shorter "short-term patch" to the Highway Trust Fund than that approved by the House of Representatives earlier this month and then quickly move to finding a long-term funding solution. The House approved legislation earlier this month...
Big ships boost container volume at Kaohsiung port Taiwan's largest port, Kaohsiung, boasted its second-highest throughput on record in June as larger vessels called at the port and island trade showed strong growth. Kaohsiung handled 914,000 20-foot-equivalent-unit containers last month, a year-over-year increase of 17 percent, according to the Taiwan International Port Corp., a government body that runs the...
Tied in knots Virtually everyone with a stake in container shipping is focusing on two main issues these days: the West Coast longshore contract negotiations and what's next now that the P3 mega-alliance is dead. Regarding the first issue, shippers are breathing a sigh of relief because there haven't been any major disruptions at...
IMF frets over German banks' toxic container ship loans German banks' toxic shipping loans are a matter of concern ahead of the European Central Bank's stress tests, the International Monetary Fund warned. German banks are "generally well positioned," but those with extensive shipping loans "could be a source of further impairments," the IMF said in its latest country report on...
Scheduled events could push ILWU talks into August The International Longshore and Warehouse Union today completed its two-day caucus in San Francisco, and the union will resume contract negotiations with the Pacific Maritime Association on Wednesday. The caucus of democratically elected union members discussed a number of issues, including progress in the contract negotiations with waterfront employers. ILWU spokesman...
Drayage sector warns of strike at Port Metro Vancouver The union representing about 400 harbor truck drivers at Port Metro Vancouver has given Canadian officials until July 30 to enforce government-mandated pay rates for drivers, or face another possible trucker strike at Canada's largest port. "We will reconvene next Wednesday. We expect time frames," said Gavin McGarrigle, director of the...
Rising demand has Asia's air cargo sector on a high The air freight market out of Asia is taking off, with solid figures reported by terminals, carriers, forwarders and the semiconductor industry, which plays a significant role in driving air cargo growth. Shanghai Pudong International Airport Cargo Terminal Ltd. reported record-setting numbers with international cargo volume up 15 percent in the...
Costamare beats bets Costamare reported a drop in second-quarter earnings that was less severe than analysts expected.
Concordia's final voyage The wreck of the Costa Concordia has begun its last voyage, as salvors tow the cruiseship to Genoa for shipbreaking.
Euronav shrinks loss Euronav trimmed its losses in the second quarter as it revealed a rising rate spot environment for VLCCs and suezmaxes.
MSC sued Two Californian companies have sued Mediterranean Shipping Company (MSC) over a shipment of allegedly rotten fruit.
GulfMark estimates dip Iberia Capital Partners has slashed its earnings forecasts for GulfMark Offshore as an analyst expressed concerns about the future of the North Sea market.
Nigeria eyes tanker move Nigeria is inviting domestic owners to form a new national tanker company for crude exports.
Nakilat JV nets $110m deals Nakilat-Keppel Offshore & Marine has secured contracts worth $110m, it announced today.
Samudera bounces back Singapore-listed owner Samudera Shipping Line has said it will sell more ships after it returned to profit in the second quarter.
Broker merger approved The merger of London brokers Braemar Shipping Services and ACM Shipping has been sanctioned by the UK high court of justice.
Israel calls pulled Two more cruise lines have halted calls in Israel as violence in Gaza continues.
NSB under fire The UK's RMT union has warned of a "race to the bottom" after Germany's NSB threatened to bring in cheaper crews.
BMZ snaps up tanker A Turkish company run by prime minister Recep Tayyip Erdogan's son has paid a reported $35m for a new products tanker.
Stifel sounds MLP support Stifel has backed more shipowners to complete MLP spin-offs as it tweaked earnings estimates for some existing companies in the peer group.
CSDC backs Yamal orders China Shipping Development Co (CSDC) has guaranteed orders for three LNG carriers signed for at DSME by its joint venture with Japan's MOL.
Second half hope Vard set for an improvement in the back half of 2014 given recent orders, analyst says.
Boxship towed An Indian boxship is heading back to a repair yard after its engine failed.
Trial runs prepared India and Bangladesh are to start trial runs for a new coastal service in October.
Substitute needed Condor Ferries is seeking a replacement vessel after a ro-pax grounded off the UK.
Mitsubishi plans terminal Mitsubishi Corp says it is entering Australia's diesel market by building a AUD 110m ($104m) gas oil import terminal.
RIG files MLP IPO Transocean has filed a registration statement for an IPO in the US for shares in its master limited partnership (MLP) Transocean Partners.
Bauxite imports surge China saw imports of bauxite jump nearly 40% last month, but the figure was still well down on pre-Indonesian ban highs.
DOT proposes new tank-car standards Senator Patty Murray, D-Wash., said the proposed rules are "a step in the right direction," but added that regulators and industry officials are not done working "to ensure that crude oil can be transported safely by rail."
Railroads reap second-quarter profits
Truck tonnage off slightly in June
Delta Q2 cargo revenue down 1%
Dachser completes acquisition of Korean JV "We plan to pursue the targeted expansion of our activities in the Korean market and leverage the close logistical connection to Greater China, the U.S. and Europe for our customers," Dachser Korea's managing director, Roman Muller, said.
Port Canaveral pier damaged in accident The damage, which is expected to take three months to repair, will not slow cargo operations, but may require ships to be moved to alternative berths, according to port officials. Larger biodiesel tankers that use the pier will require help.
Report: Crowley in talks to buy Horizon Puerto Rico operations
Service to Iranian ports resuming
ATA backs short extension of highway bill The Senate bill being debated would provide 10 months of funding, through next May, for the Highway Trust Fund, from various new revenue sources and budgetary maneuvering. The House last week approved a similar measure.
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