WSC welcomes Brussels consortia extension Council says vessel-sharing deals are established and essential to liner shipping
No US crude exports on tankers before 2017, says DNB Markets Analyst's meetings with energy giants suggest players are reluctant to invest
Brussels strengthens Europe's maritime security Damanaki says rekindling the maritime economy will also require tougher measures
Gulftainer enters the US market UAE-based operator wins the 35-year concession to operate Florida terminal
OW Bunkers acquires Wilhelmsen's fuel broker service Copenhagen-listed supplier seeks to increase its market share
European banks can fight their corner in Asia, says SocGen Lower funding costs and expertise will fight off threat, says Hong Kong asset finance boss
Aronnax: Any way the wind blows At last, a tech cluster sees the need to put its money where its mouth is
Wind gets a backer Shipowners back Finnish flettner cleantech start-up
VLGCs are shipping's star earners Average daily rate of $60,000 for the year so far put very large gas carriers ahead
Scorpio Tankers to raise $250m to buy back shares and stocks US-listed tanker company also plans to use proceeds for general corporate purposes
Brussels to extend liner consortia rules Carrier alliances will benefit from antitrust immunity for a further five years
Insurgents capture Iraq's main oil refinery New fears over threat to tanker trades from southern ports as rebel groups advance
Class societies battle over price, not safety, says IACS Growth in competition will not threaten safety, argues outgoing chairman Cazzulo
Safe Bulkers raises $70m towards newbuildings Funds from preferred stock offering likely to be applied to 13-bulker programme
Former OSG chief takes the stand as an expert witness in Genco case Arntzen's valuation methodology attacked as case heads to the last day of the hearing
Transpacific lines delay peak season levy to July 1 TSA says move is to coincide with expiration of various market rates
American Club gains tonnage and revenue P&I insurer makes new appointments to board
Shipowners' Club reports higher premiums for 2013 policy year Smaller vessel specialist clocks up 1.7m gt growth in entered tonnage
Gulftainer signs Port Canaveral pact GT USA has signed a 35-year agreement with Port Canaveral that will be worth $100M in container and multipurpose cargo investments for the Central Florida port. The terminal operator, a subsidiary of United Arab Emirates-based Gulftainer, said the agreement is expected to generate more than $280M in
Caribbean competition heats up Cruise giant Carnival Corp has reported better than expected results but voiced caution on escalating competition in the Caribbean. Carnival reported net income of $106M for 2Q14 versus $41M in 2Q13. Excluding non-cash items, adjusted net income was $80M versus $57M the year before. Adjusted profits
US considers counter-piracy weapons scheme Providing excess defence equipment to foreign governments is an option to be considered in reducing piracy in Africa, a US government report has recommended. The "United States Counter Piracy and Maritime Security Action Plan", issued on 20 June, updates a similar report issued in 2008 that did not
Perpetual share sales hit new peak Shipping's record-setting issuance of perpetual preferred equity continues to build, with another successful offering by Safe Bulkers. On 23 June, the Polys Hajioannou-led dry bulk owner priced 2.8M Series D perpetual shares at $25/share bearing an annual dividend rate of 8%. An additional 420,000
Box cargo growth slows Cargo volume growth in the global container trades is slowing down after a strong first quarter, according to a port throughput indicator by German economic research institutes ISL and RWI. Their monthly container handling index, derived from volume data from 75 ports across the globe, eased down
HMD secures West Africa LPG tanker option South Korea's Hyundai Mipo Dockyard (HMD) has secured an option for an LPG tanker from West Africa LPG. The 38,000m³ LPG tanker is booked for delivery in early 2017 and was declared less than a month after the original order for a similar vessel was placed. The duo will be classed with Lloyd's
CSSC Group new orders hit 8.7M dwt Chinese shipbuilding conglomerate China State Shipbuilding Corporation (CSSC) received effective new orders of 8.7M dwt, equivalent to 2.4M adjusted gross tonnage, in the first five months of 2014. The market share of the new orders accounted for 16.5% and 13.4% of the global shipbuilding market in
Bergen Group in loan deal extension Listed Norwegian offshore yard and maritime services company Bergen Group and its banks have agreed to extend the maturity of a NOK180M ($30M) syndicated loan to the end of the year from 30 June, the company said in a statement yesterday. The loan, which was agreed at the beginning of the year, was
Pan Ocean orders two Capesizes South Korean bulker operator Pan Ocean said today it had ordered two Capesize bulkers. Pan Ocean, led by Kim You Sik, told IHS Maritime that each of the 207,000dwt vessels would be built at Chinese shipyard New Times Shipbuilding. The ships, costing a total of KRW114.88Bn ($112.55M), are scheduled
Missing Taiwanese boat found A Taiwanese fishing boat that may have been hijacked has been located, Taiwan's representative office in Indonesia said yesterday. According to satellite data, the Kuo Rong 333 was located 64nm northwest off Pantar of Nusa Tenggara Timur, an island about 1,200km east of Java. Registered in Donggang,
Pacific Radiance enters JV with Mexican company Singapore-based offshore oilfield service provider Pacific Radiance said today that its subsidiary, Radiance Offshore Holdings, has entered into a joint venture with a Mexican shipping company. Under the joint venture with Consultoria y Servicios Petroleros, both companies will incorporate a Mexican
Rights offering to cut HHIC fair value South Korean shipbuilder Hanjin HI & Construction's (HHIC) rights offering is likely to erode the firm's fair value, said Samsung Securities' analyst Youngsoo Han in a research note today. HHIC has seen its share price plunge 31% over the past month, during which it announced a KRW196Bn ($193M)
Ship sales mask flat recycling market Six ships were sold for recycling in India last week, even as average prices are being dragged down by the softening rupee. Prices in India continue to languish at $455/lt ldt for bulkers and $485/lt ldt for tankers. Prices in Pakistan and Bangladesh are lagging behind by $5/lt ldt due to the
'Below consensus' profit for Hyundai Glovis KDB Daewoo Securities predicts that Hyundai Glovis' operating profit to total KRW175.1Bn ($171.9M), 4.9% below the market consensus of KRW183.7Bn. At current foreign exchange levels, it appears unlikely that operating profit will come in above consensus, believes KDB Daewoo securities. KDB Daewoo
Another L-Type ship joins Evergreen Ever Lissome, the fifth of Evergreen Marine Corp's 8,508teu containerships built by China Shipbuilding in Kaohsiung, has been delivered in May and is on its first voyage for Evergreen's Asia-North America East Coast (AUE) route. The ship is plying the AUE route via the Suez Canal calling at Xiamen,
Icon Offshore records jump in 1Q14 revenue Malaysia-listed Icon Offshore Icon Offshore recorded a surge of MYR14.8M ($4.6M) or a 22.7% quarter-on-quarter increase in its revenue for 1Q14 ended on 31 March 2014. The increase in revenue was primarily attributed to the additional revenue from new vessels acquired in subsequent nine months after
Damco starts business in Myanmar Third-party logistics provider Damco has started operating the first international standard warehouse and Container Freight Station (CFS) facility in Myanmar. "Damco is the first global logistics company in Myanmar," said Kiattichai Pitpreecha, MD of Damco's Thailand, Malaysia and Myanmar cluster,
Manyplus 12 crew rescued The 11 crew of Malaysian-registered tug boat, Manyplus 12 were located and rescued by a fishing boat, about 100nm northwest of Kota Kinabalu on 22 June, after being lost since 9 June. Manyplus 12 had barge Hub 18 under its tow. The shipping company reported the missing tug boat on 16 June to ReCAAP
VLGC rates still heading north Ongoing tight tonnage supply has ensured that VLGC rates continue to face upward pressure. The Baltic LPG index yesterday assessed rates for the benchmark Arabian Gulf-Far East at $130.125/tonne, working out to daily earnings of $118,422, based on bunker prices in Fujairah. The index reached a
Nova Tankers pool disbands Nova Tankers, a VLCC pool that originally started with four member companies in 2012, will be disbanded from 30 June. The decision follows the gradual departure of three of the companies from the pool. The pool began operating in 2012 with 40 VLCCs from Maersk Tankers, Mitsui OSK Lines (MOL) unit
US Customs issues guidelines for West Coast diversions U.S. Customs and Border Protection has issued guidelines for ship and cargo contingency plans ahead of a possible West Coast trade disruption arising from the expiration of the longshore labor union contract. Less than a week remains until the current contract between the International Longshore and Warehouse Union and the Pacific...
NY-NJ port performance task force unveils report An industry group seeking ways to improve performance of the Port of New York and New Jersey has issued 23 recommendations covering chassis, trucking, communication, performance indicators, and more. "Now the hard work begins," said John Nardi, president of the New York Shipping Association and vice chairman of the port performance...
Chinese Ports Lead the World in Berth Productivity, JOC Group Inc. Data Shows NEWARK, N.J., June 24, 2014 - Chinese container ports are the world's most productive, according to the 2013 JOC Port Productivity Data rankings released today. Last year's top three ports globally, in terms of berth productivity, were Tianjin, Qingdao and Ningbo. The top three terminals were APM Terminals Yokohama and...
JOC data points to strong gains in berth activity Many of the world's ports and terminals improved their berth productivity last year - some registered impressive gains - as they responded to the challenges of handling ever-larger container ships. Yesterday's second annual release of JOC Group Inc. Port Productivity Data, which measures the number of container moves per-vessel, per-hour at...
Charleston ILA threatens strike International Longshoremen's Association members at Charleston have authorized a strike, but the union has not attempted to halt work at the port. The ILA's longshore and checkers' locals in Charleston voted for the strike authorization last week. The vote was an apparent effort to pressure employers in negotiations for local contracts...
Port Canaveral, Gulftainer ink deal Port Canaveral CEO John E. Walsh, left, and Gulftainer's Badr H. JafarA new terminal slated to open in the fourth quarter of 2014 could be a game-changer for Port Canaveral's container shipping market. Gulftainer and officials at Port Canaveral made the partnership official yesterday with a well-attended signing ceremony. The company...
In port choice, shipper puts reliability before all else Beneficial cargo owners choose to route their shipments via those ports with excellent infrastructure, multiple ocean shipping and inland transportation options and a productive workforce, but the game-breaker is reliability, according to a Kuehne + Nagel executive. "Be consistent and stable, that is most important," Stefan Minder, vice president-West area, told...
Berth Productivity: The Trends, Outlook and Market Forces Impacting Ship Turnaround Times The JOC's Port Productivity whitepaper provides global rankings of key terminals and ports in the Americas, Europe/Middle East/Africa, and Asia. The dataset behind this whitepaper consists of over 150,000 vessel calls during 2013, inclusive of 771 terminals operating at 483 global ports worldwide. The JOC's newest whitepaper, BERTH PRODUCTIVITY, The Trends,...
Future VSAs to lag P3's scope, SeaIntel analyst says Container lines will continue to look to vessel-sharing agreements to reduce their operational costs, but new alliances will likely be less ambitious following the Chinese rejection of the P3 Network, a noted shipping analyst says. Although Maersk Line, Mediterranean Shipping Co. and CMA CGM will likely come back with major VSA...
LTL carriers building pricing power in 'strong' 2Q There's a buzz about less-than-truckload transportation these days, and it's not the sound of drones. Despite predictions that tiny, unmanned aircraft flown by Amazon and others may drop packages on doorsteps some day, "until drones are invented that can handle 2,000 pound shipments, we're stuck with trucks," James Welch, chairman and...
Southern California shippers can tap Uber-like trucking service The "Uberization" of trucking appears to be gaining momentum, with a Southern California company today launching a platform to connect local shippers with area drivers via their desktops and smartphones. Cargomatic, based in Venice, Calif., already can connect regional shippers with hundreds of local drivers and plans to be begin serving...
US private equity fund KKR set to sell Turkish short sea carrier - report U.S. private equity fund KKR is reportedly mulling the sale of UN Ro-Ro to its previous owners for around half of what it paid for the Turkish roll-on, roll-off shipping line seven years ago. The International Transporters Association of Turkey (UND), a trucker's cooperative, which sold UN Ro-Ro to New York-based...
European Commission extends antitrust exemption for liner consortia The European Union today extended by five years an antitrust exemption for liner shipping consortia, in the face of opposition from shippers. The regulation, which will now run through April 2020, allow carriers with a combined market share below 30 percent to enter into cooperation agreements to provide joint cargo services. The...
China boosts European gateway effort Even as it shot down an ambitious plan by Europe's three largest ocean carriers to join forces, China was beefing up its bid to create a continental gateway to distribute its products across its largest export market. The decision by Beijing's antitrust regulators to block the P3 Network alliance between Maersk...
Earnings joy for Carnival Cruise giant Carnival Corporation has reportedly significantly better than expected second quarter earnings on improved yields and lower costs.
Nautilus 16 hit Chapter 11 Andreas Papathomas-led Nautilus Holdings and several affiliates filed for Chapter 11 bankruptcy protection for a fleet of 16 containerships.
Damco expands in Myanmar Damco has started operating the first international standard warehouse and container freight station in Myanmar.
Bunker broker sold Denmark's OW Bunker has acquired marine fuel broker Wilhelmsen Marine Fuels for an undisclosed sum.
Scorpio notes for shares Scorpio Tankers is looking to raise some $250m in senior convertible notes in a private placement, largely to boost its existing shares-buyback programme, the company disclosed today.
More bonds for Yang Ming Yang Ming Marine has raised TWD3.85bn ($128m) from a bond issue aimed at replenish working capital and repaying bank debts.
Pan Ocean stumps up Singapore-listed Pan Ocean today confirmed it will invest KRW 114.9bn ($112m) on two capesize newbuildings.
Icon up six-fold in Q1 Icon Offshore has seen first quarter profit jump by more than six-fold, according to newly released figures.
Hijacked crew rescued The crew of a tug that was suspected of being hijacked earlier this month off Borneo have been rescued authorities have confirmed.
KNOP gets two more KNOT Offshore Partners (KNOP) is expanding its fleet with the addition of two shuttle tanker newbuildings in deals worth $335m.
PIL tests money markets Pacific International Lines (PIL) is reportedly testing the waters for a potential SGD1bn ($800m) fund raising exercise, it has emerged.
NAO shares surge Nordic American Offshore (NAO) has seen its stock price surge by 13.3% in a single day's trading in New York.
Task Force offers recommentations to improve Port of NY/NJ
Zim reveals talks with strategic partners Zim's parent company said in a stock exchange filing last week that the liner company has held talks seeking a strategic partner, but said both its debt and the Israel government's "golden" share were obstacles in those negotiations.
Descartes to sell 9.5 million shares
Gulftainer to operate terminal at Port Canaveral Port Canaveral has signed a 35-year agreement with GT-USA, the U.S. arm of Gulftainer, a terminal operator headquartered in the United Arab Emirates, to operate and further develop its container and multi-purpose cargo terminal.
OW Bunker buys Wilhelmsen Marine Fuels
Ford uses special rail car to deliver vans Ford Motor Co. has modified standard bi-level rail cars used by auto manufacturers for finished vehicle shipments to transport its new full-size Transit cargo vans in the United States, the company said.
Yusen starts cold-chain LTL service in Indochina
TSA delays peak season surcharge until July 1
Damco sets up CFS in Myanmar
Old Dominion expands in Maine
French air traffic controller strike impacts shipments
Europe extends exemption for shipping consortia to 2020
Washington Notebook: U.S. agencies to test integrated trusted shipper program
Softer pricing in evidence across Europe Suppliers can't agree on market direction in Rotterdam.
Avails tight in Fujairah South African markets soft.
Russia put brakes on fuel oil tax hikes Draft law proposes delays of two years.
Fishing fleet fuel subsidies 'huge disservice' to mankind 'Fuel subsidies opened the door to industrial-scale fleets that are fishing at an unsustainable pace.'
Feeder operators fear new ECA rules Freight charges will inevitably rise, says Delphis boss.
SLPA facing questions over Hambantota bunker cargo 'Questions are being raised as to what process was followed in the selection of trader and the supplier.'
Korean shipping company sells bunker stake Bunker company is Singapore-based.
More consolidation 'will be good' Less competition may allow for better quality suppliers.
Asian bunker prices softening Prices have ended the day lower at most key hubs.
New refinery terminal to be built at Fujairah Project includes fuel oil storage.
Shipping group questioned over flawed reporting Chinese state auditor uncovers missing records for bunker fuel purchases among other discrepancies.
Drive system enhances tanker performance System offers 9% efficiency boost.
Japanese shipowner buys modern duo Fuel-efficient newbuildings to join fleet in 2017.
DNV GL: Latest version of concept ship more fuel efficient Vessel makes several improvements over earlier model.
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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