Large orders position Scorpio Bulkers 'to capture the upturn', says Lauro The market has space for quality tonnage, says the boss behind the 79-ship orderbook
Supply fears sap confidence in shipping Industry respondents to Moore Stephens survey worry about an influx of tonnage
Tote gets state loan guarantee for LNG-fuelled boxships US Jones Act operator aims to be first with up to four gas powered vessels in US waters
Esbjerg invites private interest in new combi terminal Danish port launches tender to operate and develop intermodal facility
Is this the end for Maersk Tankers? Market closely watches fate of Danish shipping giant's tanker division
Capital Product increases its offering haul to $173m Funding for five incoming newbuildings appears to be almost covered
Will Asia-Mediterranean be the first battleground for new box alliances? Supergroupings' increased capacity could trigger a price war, Alphaliner warns
Aronnax: of fuel risks and fires California's experiences hint at trouble as new emission-control areas take effect
IUMI 2014: General average is 'unfair' Cargo interests are unhappy with the York Antwerp Rules
Rocket attack on Libya refinery rattles Mediterranean aframax market Rates stagnate as vessels await new bookings after Zawia blast closes El Sharara oilfield
IUMI 2014: Total loss rate down to 0.18% But offshore suffers from claims inflation
Skou rules out vessels larger than 18,000 teu for Maersk Chief executive would rather keep trading flexibility than join race to even bigger ships
China coal ban's impact on seaborne trade looks small despite the hype There is no sign that restrictions will apply to power stations and key users of imported coal
Vessel blackouts increase in California waters Fuel switching to low-sulphur distillates seen as major cause of loss of power incidents
Morning fog halts Southampton operations Port has since reopened following suspension of container terminal activity for nearly 90 minutes
Australian review calls for ending lines' blanket competition exemption Harper Panel says commission should be given power to grant block exemptions
IUMI 2014: Seeking a global marine insurance market Trade association will back TiSA talks, conference told
Rating agency positive on GSL acquisition Moody's says 8,063 teu vessel acquisition will diversify revenue base away from CMA CGM
IUMI insights: Incomprehensible acronyms The language of insurance makes no concessions to those not in the lingo
US approves $325M TOTE loan America's first LNG-powered containerships received approval from the Obama administration for a $324.6M loan to finance their construction. TOTE Shipholdings and parent Saltchuk Resources, whose two Marlin Class vessels are under construction at NASSCO shipyard in San Diego, qualified for the loan
Cosco yards win two orders Cosco Dalian Shipyard has secured an order for the first of two options for a module carrier from Dutch shipowner BigRoll Shipping and Cosco Qidong has won an order for a floating accommodation unit. The order for the 22,500dwt module carrier was announced by Cosco Corporation of Singapore and is
Liner shipping faces Australian competition laws A draft Australian government review yesterday recommended against exempting international liner shipping from Australian competition laws. The decision drew an angry response from Shipping Australia Limited, the peak body representing international shipping in Australia. Shipping Australia CEO
Carrier for demolition runs aground in Taiwan A Mongolia-flagged cargo carrier Aviva Cairo ran aground off the southeast coast of Taiwan last week while being towed from Manila, Philippines, to Thailand for scrapping. Due to Typhoon Fung-Wong, the 4,000dwt ship was stranded at the estuary of Luliao River in Pingtung county in southern Taiwan.
Daydreaming helmsman blamed for ship grounding The grounding of cargo ship Bosphorus in Brisbane River, Australia, on October 29 last year was the result of the helmsman becoming 'zoned out' and disengaged, and his failure to follow instructions, a report found. Poor crew and pilotage safety managements system, not the individual, were to
US joins ReCAAP The United States has become the 20th member of Singapore-based anti-piracy body Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia (ReCAAP). The Assistant Commandant for Prevention Policy of the US Coast Guard, Rear Admiral Paul F Thomas has been appointed
Chinese yards' new orders up 36% Chinese shipyards' new orders rose 36% year on year to 47.4Mdwt in the first eight months of 2014, the China National Association of Shipbuilding Industry (CANSI) said today. The order books of the Chinese shipbuilders grew 34% y/y to 153.7Mdwt at the end of August, or up 17% from the amount at the
Yards benefit from LNG advance A significant order for LNG carriers could help profitability at South Korea's big three shipbuilders. Korea Gas Corporation (KOGAS), the world's biggest LNG importer, is to timecharter six LNG carrier newbuildings for 20 years according to CIMB Securities in a research note. This said the
Vallianz Holdings buys shipyard Singapore-based offshore oilfield service provider Vallianz Holdings has bought a shipyard in Batam, Indonesia, to create synergies with its core vessel-owning business. The acquisition will be executed by taking over the shipyard's owner, Singapore-based Jetlee Shipbuilding & Engineering, and the
ClassNK updates software to improve propulsion Japanese classification society ClassNK has updated its PrimeShip-GREEN/MinPower software to enable users to better calculate minimum propulsion power requirements. The software, supplied to shipyards at no cost, was initially released in April this year to help shipyards comply with EEDI (Energy
Maersk clarifies comment on not relinquishing No. 1 ranking Maersk Line clarified a recent comment by CEO Soren Skou in which he appeared to say that his company would not relinquish its longtime No. 1 ranking after Alphaliner said it would be overtaken by Mediterranean Shipping Co. in 2016. An article posted on the Maersk Line website on Sept. 15...
Lázaro Cárdenas sees import growth; exports down Mexico's Port of Lázaro Cárdenas reported a second straight month of year-over-year increases in imports in August, following decreases in every previous month for more than a year. Imports at the container port - one of Mexico's largest - totaled 49,534 TEUs last month, jumping 9.3 percent compared to August 2013....
US sets duties on China-built 53-foot containers The U.S. Commerce Department today set duties on 53-foot dry intermodal containers from China after a preliminary determination concluded manufacturers received unfair subsidies from the Chinese government. The containers built by China International Marine Containers, along with seven affiliates, face anti-subsidy duties of up to 10.46 percent, the Commerce department said...
Continued rise in contract truck rates, freight demand likely, FTR says U.S. shippers are paying more to move goods inland as contract truck pricing rises as the fall inland peak shipping season gets under way, according to FTR Associates. The research firm doesn't expect that trend to change any time soon, as manufacturing, construction and consumer demand increase in the second half...
US freight thefts dipped in summer Reported U.S. cargo thefts from June through August declined 16 percent from the previous three months and averaged $182,115 per incident, according to FreightWatch International. FreightWatch's quarterly update showed 53 thefts in June, 69 in July and 60 in August for a total of 182. All but 29 of the thefts were...
Drewry: Global box port traffic to hit 840 million TEUs in 2018 Global container port traffic will top 840 million 20-foot-equivalent units by 2018, with Africa and greater China posting the fastest growth rates, according to shipping consultancy Drewry. Volume will grow by an annual rate of 5.6 percent through the next five years, compared with 3.4 percent in 2013, and average terminal...
Spot domestic intermodal rates rise on peak-season momentum U.S. domestic intermodal pricing jumps 5.6 percent in week. Full-size chart Look no further for proof that the intermodal peak season is upon shippers and railroads than the latest reading from a U.S. spot rate index. U.S domestic intermodal pricing jumped 5.6 percent week-to-week, or by $115, to $2,169 per unit in the...
DOJ won't challenge LA-LB 'gray chassis' plan The Justice Department's antitrust division said it won't challenge an agreement by two major container pools to share each other's intermodal chassis in a "gray" pool in the ports of Los Angeles and Long Beach. The DOJ's business review letter to Flexi-Van Leasing and Direct ChassisLink Inc. is an important development...
Port of Long Beach diesel emissions down 82% since 2005 Diesel particulate matter emissions from ships, trucks, trains and other big machines at the Port of Long Beach has declined by 82 percent since 2005, according to an annual analysis of the area's air quality. Port officials in Los Angeles and Long Beach credit several programs, including carriers' use of fuel-efficient...
New joint Asia-Australasia service to debut in November CMA CGM, China Shipping Container Lines, OOCL and PIL plan to launch a new joint service connecting Northeast Asia, Australia and New Zealand in early November. The weekly service, which will offer a turnaround time of 49 days or seven weeks, will have the following port rotation: Shanghai, Ningbo, Chiwan and...
Port of Los Angeles to resume full operations following fire [Updated] [Editor's note: Updated on 9/23/2014 at 8:50 p.m. Eastern time to include a new tweet from Los Angeles regarding the fire, and new information about terminals shut down at Long Beach.] Terminals at the Port of Los Angeles reopened as of 9 p.m. on Tuesday after being closed for several hours...
Rails prep for winter to avoid another Chicago gridlock The unseasonably cold front that moved through Chicago last weekend provided railroads and shippers a chilly reminder that the rail gridlock seen in winter 2013-2014 could occur again. How carload and intermodal freight moves through the top U.S. freight hub (and bottleneck) depends not only on the severity of the weather...
Strike threat low despite lack of West Coast longshore contract, Scioscia says Negotiations between the International Longshore and Warehouse Union and the Pacific Maritime Association will likely conclude without a strike or lockout, a prominent U.S. shipping executive said at an industry conference this week, according to Bloomberg. "The environment has been civil and constructive with operations being normal," Anthony Scioscia, former senior vice...
Kuehne + Nagel puts focus on trans-Atlantic market Kuehne + Nagel, the world's largest sea freight forwarder, said it is targeting the trans-Atlantic container trade to offset slowing Asian exports to Europe. The Europe-North America trade features among the Swiss company's new strategic framework involving 20 initiatives across its ocean freight, air freight, overland transport and contract logistics businesses. "We...
Alphaliner: 2M and O3 to first lock horns in Asia-Med trade The 2M and O3 alliances likely will first lock horns in the Asia-Mediterranean trade, with planned increases in capacity threatening to unleash a rate war, according to analyst Alphaliner. The 2M carriers, Maersk and Mediterranean Shipping Co., are planning five Far East-Med "strings," one more than originally announced, while the O3...
West Coast ports see need to step up efforts to combat congestion Port executives admit that when it comes to fixing the problems that come with big ships and powerful carrier alliances, problems such as terminal congestion, equipment shortages and excessive truck turn times, the buck stops with them. This admission by executives of the ports of Los Angeles, Long Beach, Oakland and...
Increasing export orders keep China factories busy HONG KONG - New export orders saw China factory output increasing in September as the mainland manufacturing sector continued to expand, reaching a two-month high and raising expectations that inventory building could see export growth into the fourth quarter. The HSBC flash purchasing managers index (PMI) survey came in at 50.5, slightly up...
Buy brings payout boost Dyngas LNG Partners has purchased a modern, ice-class LNG carrier from its sponsor that will back an increase in its payout to shareholders.
Log-In names COO Log-In Logistica Intermodal has promoted its head of maritime operations and maintenance to a top executive role.
Saverys succession Marc Saverys has handed the chief executive officer job at Compagnie Maritime Belge (CMB) to his son Alexander.
Buckelew in Asia push Carnival chief operations officer Alan Buckelew is relocating to China to lead growth efforts in that country, the cruise giant said.
Farmers storm shipyard A Chinese shipyard has suspended operations after a group of 500 farmers smashed offices because they blamed it for killing their abalone harvest.
Confidence falls Overall confidence levels in the shipping industry have fallen slightly during the last three months, according to a survey conducted by accountants Moore Stephens.
Don't blame us Emanuele Lauro has defended Scorpio Bulkers against accusations its rapid expansion has contributed to a potential oversupply issue in the market.
Dubai keeping Freeze? Golar LNG has said its long-term charter of the Golar Freeze FSRU ship to Dubai is unaffected by the arrival of a bigger Excelerate Energy vessel from next year.
Seafarer injured A crewman who suffered serious injuries aboard a bulk carrier was rescued by a helicopter which took him to the closest hospital in Durban, South Africa, earlier this morning.
Dry bulk forecast Jens Ismar says the sun will not shine as brightly for the dry cargo market as many owners had hoped.
Zim's new alliance Israeli container line Zim has formed a new partnership with Russia's Seagoline to operate a reefer service to the Black Sea.
Porter builds stake Seaspan co-founder and managing director Graham Porter has built his stake in the US-listed boxship owner to 7.4%.
SITC takes shipping agency Hong Kong-listed SITC International has completed a transaction which leaves it with the entire issued share capital of SITC Shipping Agency.
Heading home A five-month nightmare for 12 Turkish seafarers will finally come to an end on Sunday, when they will leave Quebec and fly back home.
Cosco Corp wins duo Cosco Corporation (Singapore) has announced deals for new vessels worth $230m.
Israel to build ports Israel Ports is set to raise ILS 1.5bn ($410m) in order to boost the construction of two new ports.
Beware the shadow Shadow capacity is keeping a cap on freight rate recoveries with the present downturn likely to extend for three more years, Martin Stopford says.
HC2 buys Global Marine US telecoms company HC2 has snapped up the cable-layer fleet of UK owner Global Marine.
Exciting times ahead Exciting times await crude tanker owners, the chief executive of RS Platou Markets says.
GMS adds one Abu Dhabi-based Gulf Marine Services (GMS) has taken delivery of a new self-propelled self-elevating support vessel (SESV) ahead of schedule.
Stop blaming the economy Seaborne trade volumes are at record levels and the global economy is firmly on the road to recovery. Yet the shipping industry is still languishing at the bottom end of a prolonged down-cycle. So what has gone wrong?
More for Deep Sea John Fredriksen-controlled Deep Sea Supply has fixed four offshore ships for a total of 1,000 days.
Hemen splashes the cash John Fredriksen has increased his dominant position in Seadrill with the acquisition of 2m shares in the US and Oslo-listed driller.
Iran wants Baku link Iran wants to relaunch a cargo and passenger run to Baku in Azerbaijan.
Brokers fined Latvia has fined the National Association of Ship Brokers and Agents for an anti-competitive pricing agreement.
RIG may cool order plans Transocean may opt against ordering more drillships in Singapore, a top investment bank has predicted.
Steel output growth flat China saw little or no growth in its crude steel production during the month of August, latest industry figures show.
ITC confirms VL sale Independent Tankers Corporation (ITC) has confirmed the sale of its 309,000-dwt VLCC Ulriken (built 1998).
Team Spirit arrested Singapore's admiralty sheriff has arrested a German-owned general cargo vessel, latest court documents show.
Rand's Levy steps down Rand Logistics has settled a proxy war with dissident investor JWest by giving it a seat on its board and by removing Laurence Levy as chief executive and chairman.
Capital nets $173m Capital Product Partners has seen its net proceeds in a share offering rise to more than $173m after underwriters exercised options.
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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