Braemar reports growing spot market appetite for panamax boxships Brokers say prices for larger containerships have risen by $1,000 a day
Chinese vessel joins hunt for missing Air Malaysia Flight MH370 Xue Long heads towards search and rescue area after debris spotted west of Australia
Norway and the Marshall Islands propose NOx compromise IMO member states react to Russian bid to delay tougher emission rules
VLGC spot rate hits a record high Healthy demand boosts earnings for large gas carriers plying Middle East Gulf-Asia trade
Subcontinent demolition rates may cool as monsoon season looms Analysts eye uncertain propsects despite a week of solidly priced scrapping sales
US shippers back antitrust authority's P3 monitoring pledge National Industrial Transportation League welcomes FMC scrutiny for container alliance
China Merchants Energy Shipping eyes a profitable first quarter Tanker giant forecasts $23m-$31m net profit
Suspected oil-theft tanker docks in Libya US Navy returns North Korea-linked Morning Glory and its cargo to Tripoli
Seaman Guard Ohio seafarers held in India apply for bail Tuticorin magistrates will rule on 35 AdvanFort staff held for five months
MHI to book $585m writedown on losses from Carnival cruiseship orders 'Vast and significant' design changes to Aida Cruise vessels raise Japan shipbuilder's costs
Spill closes Houston Ship Channel America's busiest energy shipping gateway has been shut after a collision between a bulker and a barge caused a spill of 168,000 gallons of bunker fuel oil
MHI takes financial hit on Aida Japanese shipbuilder Mitsubishi Heavy Industries (MHI) is to take a significant write down of over half a billion dollars on two newbuildings being built at its Nagasaki yard for Aida Cruises
Gas producers: Reasonable pricing necessary to produce LNG While Asian LNG-importing countries have been griping about paying through their noses for gas, LNG producers said today that pricing must be reasonable to justify investing in liquefaction projects
CMES back to black in 1Q 2014 China Merchants Energy Shipping (CMES), a Chinese bulker and tanker operator, has predicted that it will return to profits of at least 140M Yuan ($23M) in the first three months of this year
UN won't intervene in marines case The case of two Italian marines charged with shooting two Indian fishermen is a bilateral matter concerning Italy and India, John Ashe, president of the United Nations General Assembly (UNGA), stated on 21 March
South Sudan strife adds uncertainty to Kenya's port project Civil conflict in South Sudan and a standard gauge (SG) railway from Ethiopia to Djibouti are clouding the future of Kenya's Lamu port and transport corridor project
KPA announces port modernisation plans Kenya Ports Authority (KPA) is set to invest Sh5Bn ($58M) in new cargo handling equipment
Lindi in line up for LNG terminal The southern Tanzanian province of Lindi is being considered for a liquefied natural gas (LNG) terminal to process offshore deposits
Awilco Drilling plans bond issue Awilco Drilling, the Aberdeen-based drilling rig operator listed in Oslo, is contemplating issuing a secured bond loan in the Norwegian bond market
Nanjing Tanker losses up 377% in 2013 Nanjing Tanker, the tanker-operating unit of Sinotrans & CSC, had its losses mount to 377% year on year to CNY5.9Bn ($948.6M) in 2013, due to asset impairment and booking of forecast long-term charter party losses
Back-to-Work Order for Vancouver Truckers? Truck traffic at Port Metro Vancouver continued to increase over the weekend, but still remained below normal as the maritime community anticipated introduction of back-to-work legislation today by the British Columbia government. Even if the provincial government introduces back-to-work legislation, which will call for a 90-day cooling-off period, hundreds of striking...
CN Plays Catchup on Grain But Export Concerns Persist Canadian National Railway said it's meeting the government requirement to transport more grain but warned that grain elevators on the west coast are nearing capacity and ice coverage prevents shipping via the Great Lakes. The railroad said it has transported on average 4,366 railcars weekly in the last three weeks, after...
Sole FMC Commissioner Against P3 Calls It 'Alliance in Name Only' WASHINGTON - The U.S. Federal Maritime Commissioner who cast the lone vote against the P3 network last week called it an "alliance in name only" in which the controlling carrier, Maersk Line, can virtually "paint the other parties' ships light blue." Calling the P3 anticompetitive, Commissioner Richard Lidinsky pointed to how...
China Overtakes US as Brazil's Top Trade Partner Fifteen years after China initiated its "Going Global" strategy, its trade with the major nations of South America has increased rapidly, and China has become an increasingly large purchaser of South American raw materials, and supplier of loans and investment capital. Bilateral trade between Brazil and China expanded aggressively between 1999...
Port of Savannah Handles Record Container Traffic Georgia's Port of Savannah moved a record 248,746 TEUs in February, increasing 2.6 percent year-over-year and marking the port's highest volume of containers ever for the month of February. Port of Savannah's container throughput in the last 12 months. Full-size image However, compared with the previous month, February container traffic was down 4.0...
NY-NJ Port Says Productivity Improving The Port of New York and New Jersey said its container terminals have recorded increases in truck gate moves and reductions in dwell time for containers and that operations are improving following winter disruptions. Gate moves averaged more than 60,000 per week during the last two weeks, the port authority said....
Truck-Tracking Software Targets Driver Detention New software could help trucking companies enforce truck driver detention policies and collect fines from shippers that keep drivers waiting beyond agreed limits. The Detention Optimization Module released by Spireon for its asset-tracking system tells carriers not only where their equipment is but how long it's been there. The software also will...
Joint Asia-Red Sea Service to Launch in May REX3/RES2/ARC2 port rotationCMA CGM, China Shipping Container Lines and United Arab Shipping Co. on May 8 will launch a new jointly operated, fixed-day weekly service, the Asia Southern Red Sea Express, connecting South China, Southeast Asia and southern Red Sea ports. The REX3/RES2/ARC2 port rotation will be as follows: Xiamen, Yantian and...
Mega-Ships Seen Needing New Way of Insuring Cargo Maersk Line Triple E mega-ship Majestic Maersk.The millennia-old insurance principle called general average, which pools the cargo and hull liabilities in a marine disaster, won't work in an age when container ships of up to 18,000 20-foot equivalent units might be lost. Because cargo owners would have to wait years before...
Port of Charleston's Container Volume Drops South Carolina's Port of Charleston handled 129,657 TEUs in Feburary, down 1.5 percent year-over-year. Port of Charleston's container throughput in the last 12 months. Full-size image However, year-to-date, Charleston's container volume was up 2.5 percent year-over-year, totaling 259,308 TEUs. In the first eight months of its fiscal year 2014, which began on July...
Port Tampa Bay hosts successful and insightful conference/port tour for International Pineapple Organization TAMPA, Fla.- The International Pineapple Organization (IPO) held its second Global Pineapple Conference in Tampa March 19-20, 2014. Hosted by Port Tampa Bay, and sponsored by the port, CSX and Ports America, the IPO Global Pineapple Conference brought together many of the key stakeholders in the pineapple industry, including major...
Volga-Depner Group Announces Three Senior Management Appointments to Spearhead Its 'Cargo Supermarket' Strategy Volga-Dnepr Group has announced three new appointments in its management team to further the implementation of its 'cargo supermarket' development strategy and synergy between its air cargo charter and schedule freighter services operated by Volga-Dnepr Airlines and AirBridgeCargo Airlines. Wolfgang Meier, Volga-Dnepr Group After four successful years serving as Senior Executive Vice...
Thermo King Delivers Peace of Mind with CARB Compliant Genset Platform Brussels, Belgium, March 21, 2014 - At the beginning of 2014 the new regulations from the California Air Resources Board (CARB) took effect. The CARB requirements were introduced as a measure to reduce exhaust emissions from diesel engines in off-road applications. As a result, all reefer containers in California should be tested...
Meet the new 'magic pipe' The US Environmental Protection Agency (EPA) appears to be mounting a campaign aimed at penalising the operators of ships that fail to comply with laws designed to reduce air pollution at sea.
Sveaas makes his move Christen Sveaas has launched a full takeover bid for ailing Swedish shipowner Rederi AB TransAtlantic (RABT).
Brodosplit 8 cleared A Croatian court has acquitted eight men charged with money laundering at Brodosplit shipyard.
Star sees banana appeal Norwegian reefer owner Star Reefers has chartered four vessels to the shipping arm of US banana giant Chiquita.
d'Amico exits PE pact d'Amico International Shipping has bought out private equity partner Hudson from a joint venture vessel under construction at Hyundai Mipo.
Rajapur reborn? India's long-delayed Rajapur Shipyards project looks to be back up and running.
Diamond S denies sale Diamond S Shipping has cooled suggestions it has sold two aframaxes to Teekay spin-off Tankers Investment Ltd (TIL).
Dredger goes down A fuel leak has been spotted after a dredger sank in Dordrecht.
Atlantic cuts NAO ties Atlantic Offshore is severing its ties with a series of platform supply vessels (PSV) owned by newcomer Nordic American Offshore (NAO) to avoid a conflict of interest.
G Bulk banks high price G Bulk of Greece has fetched a high demolition price for one of its bulkers.
Bulker crewman missing Australian authorities have begun a search for a man missing from a Sinotrans bulker in the Gulf of Carpentaria.
Vitol top line rises Vitol has recorded a rise in crude and product shipments on the way to improved revenue in 2013.
HMM eyes logistics sale Hyundai Merchant Marine (HMM) is mulling the sale of its logistics wing as the next step on the road back to profitability.
Nanjing Tanker loses $950m China's Nanjing Tanker has posted a massive loss for 2013 and could be delisted in Shanghai within days.
Maple sells to NewLead Maple Leaf Shipping of China has emerged as the seller of two bulkers to NewLead, brokers say.
Second bulker grounds The Parana river was blocked again near Rosario in Argentina after a second bulker grounded, but the ship has now been refloated.
Gulf Nav posts big loss Dubai tanker owner Gulf Navigation has revealed a loss of AED 898.53m ($244.63m) for 2013 as it was hit by vessel write-down and impairment provisions.
Alpha cancels at STX? Greek shipowner Alpha Gas appears to have cancelled one of its two LNG carriers on order at STX Offshore & Shipbuilding due to excessive delays.
Kier clocks on at Univan Former AP Moller-Maersk executive Jens Kier has joined Univan as its chief financial officer.
Pan Ocean to sell Korean bulker owner Pan Ocean has decided to sell its ship finance unit Heungkuk Mutual.
Aida pair clobbers MHI Mitsubishi Heavy Industries is to shoulder an enormous writedown of over half a billion dollars on a pair of newbuildings for Aida Cruises.
PNSC fixes fuel deals State-owned Pakistan National Shipping Corp (PNSC) has lined up six suppliers for new bunker fuel contracts.
Back in Libya The tanker that broke through a naval blockade off Libya earlier this month after loading crude at a rebel-held port is back in Tripoli.
Captain fined in Ireland The captain of a Turkish cargoship has pleaded guilty to failing to notify Ireland's coast guard of a near-grounding incident.
Aiming for identical twins Two bulkers building in China will be the first ships to use a new service that aims to reduce variations in ships built to the same design.
CSAV investors back tie-up Shareholders in Cia Sud Americana de Vapores (CSAV) have approved a proposed merger with Germany's Hapag-Lloyd.
Maersk offloads duo Denmark's Thorco Shipping is reported to have acquired two modern multi-purpose vessels from Maersk Line, Limited (MLL).
Ezra taps bond market Ezra Holdings has tapped bond investors to raise a further SGD 95m ($75m) towards improving its balance sheet.
Port of L.A. interim chief not interested in top spot Port of Los Angeles' Interim Executive Director Gary Lee Moore announced Friday that he will not apply for the permanent position, but will return to his duties as city engineer of Los Angeles after an executive director is selected.
New service between Far East, Red Sea CMA CGM, UASC and China Shipping are introducing a new weekly container service between the Red Sea and the Far East. CMA CGM said the new Asia Southern Red Sea Express will improve port coverage and offer fast transit time.
Houston ship channel closed by weekend oil spill
CSAV shareholders OK merger with Hapag-Lloyd
Valero buys ethanol plant at Port of Indiana
Amber Road CEO eyes growth after successful IPO Amer Road's initial public offering Friday exceeded analysts' expectations, with the firm netting more than $62 million as its stock surged 33 percent above its offered price by the end of the day.
Shippers applaud plans to monitor P3 Shipper groups praised the FMC for close examination of the P3 Network that Maersk, MSC and CMA CGM plan to set up later this year, as well as its plan to monitor the vessel-sharing agreement to determine whether it harms competition.
Damen opens new shipyard in Vietnam
U.S. aims to end tariffs on environmental goods
Ex-Im Bank signs MOU with Philippine Energy Department
Vitol 2013 revenues up slightly Traded volumes of crude and oil products also up.
Firm unveils new scrubbing technology Eco-friendly system has low energy consumption, says AEC Maritime.
OW Bunker IPO 'fully subscribed' 'We have seen great interest from both retail and institutional investors.'
Outlook uncertain in Middle East and African markets No avails at Cape Town.
Prices firm on stronger crude values LS MGO adds over $10 per tonne in Istanbul.
Developer of fuel oil alternative 'changes pace' 'We expect to build through 2014 as the company transitions from pre-commercial development to substantive commercial operations.'
Analysts say OW Bunker is good investment Danish investment analysts upbeat on long term prospects, even if company's turnover growth is expected to slow down.
Houston Channel bottleneck could hit prices Fuel oil spill closes shipping channel.
US regulators clear P3 alliance Alliance of big three container carriers unlikely to trigger 'unreasonable' cost increases.
Asian shipowner eyes global supply contract Six bunker companies lined up to be part of deal.
Rolls Royce puts positive spin on gas-powered tug orders Move could be driven by environmental agenda, says executive.
Asian prices start week mixed Avails 'very tight' in Tokyo Bay.
New 'fuel flexible' engine Model can consume either LNG, heavy fuel oil, or MDO as bunker.
South Korea major to resume fuel oil exports to China Supply of 80,000 mt of 380 cSt material to resume in April.
Brightoil: Dalian storage facility facing delays New safety requirements could push building schedule back four years.
Singapore firm orders fuel-efficient OSVs Vessels feature a wave piercing bow designed for rough seas.
Houston bunker spill triggers big response Some 600 tonnes of fuel oil go into Houston Ship Canal.
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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