Emerging economies boost Barcelona box traffic Port notes double-digit growth in trade with Colombia, Thailand and Bangladesh
Navig8 leads this year's race to book tanker newbuildings Firm has beaten Petrobras, Mitsui OSK and Nordic Tankers in placing new orders
Better demand at home, in Asia and in Europe boosts DP World volumes Container traffic rises 11% to 29m teu in first-half of the year leaving port operator bullish on trade forecasts
Yard Talk | A new Lloyd's List shipbuilding column Hopes are dashed as South Korea's Big Three builders find offshore a challenge too far
Containers weekly analysis: Inactive fleet declines Peak season continues to drive demand for extra tonnage
Containers Data Hub: Asia-South America Trade Route Intelligence Investment is still needed in South American ports to handle larger boxships
Tanker hijackings are a growing menace in Southeast Asia Piracy watchdog says the region has bucked a drop in global attacks with six recent incidents
Crude tankers win time charters as market focuses on floating storage Charterers can store oil then sell it for a higher price at a future date
TAL sees leasing revenues increase but income slides Increased demand offset by lower lease rates and sale prices
Essar Ports posts 9% fall in second-quarter profits Rise in revenues marginal, but port operator expects volumes to grow as expansion rolls out
Costamare beats expectations for second-quarter earnings Secondhand acquisition chartered to Cosco
Samudera back in profit as costs fall Box and tanker owner sees container volumes grow on utilisation of better routes
What's behind Fortescue's VLOC play? FMG isn't building a bulker empire, but it has found a durable reason for owning these giant ships
Royal Caribbean raises profit targets Royal Caribbean has reported better than expected results and raised its guidance on full-year profits - which it hopes to double by 2017. The cruise line posted net income of $137.7M for 2Q14 versus $24.7M in 2Q13. Excluding special items, adjusted net income was $146.7M in the most recent period,
BW Offshore buys out FPSO partner BW Offshore, has acquired full control of the 1975-built floating production and storage offshore (FPSO) tanker Petroleo Nautipa for $49.3M, plus $10M in working capital in the company that owns the unit. The Oslo-listed global provider of floating production services to the oil and gas industries
Eastern wins Harvey MPFSV order Eastern Shipbuilding Group of Panama City, Florida, has a contract for a multipurpose field support vessel (MPFSV) from New Orleans shipowner Harvey Gulf International Marine. The newbuilding will be a new RAmpage 6400 hybrid design with an overall length of 64.6m, beam 18m, and depth 8m, with
Frontline ends charters of 15-year-old VLCCs Frontline, the listed VLCC and Suezmax operator in John Fredriksen's business empire, says it has terminated charters of three 1999-built VLCC tankers. The company has agreed with Ship Finance International to terminate the long-term charterparties for Front Opalia, Front Comanche, and Front
IMB warns of threat to small tankers Concerns about increasing hijackings of small coastal tankers for their cargoes in Southeast Asian waters have been raised by the International Maritime Bureau Piracy Reporting Centre. In its 2Q14 report, released today, the centre noted at least six known cases of this type of hijack since April
Cash flows to Philippines port operator International Container Terminal Services (ICTSI) of Philippines has used a novel structure for attracting investment to create a $350M syndicated revolving credit facility. This, the company says, will allow it flexibility for strategic investments and acquisitions. Originally launched at $250M,
Tanker operator optimistic despite loss Antwerp tanker operator Euronav remains upbeat about prospects for the crude tanker market despite making a $22.58M loss in 2Q14. It had delivered a $1.37M profit in 1Q14. The company said its latest preliminary results had been affected by a $9.3M amortisation of expenses connected with the
Corsican boat protest meets Costa Concordia Corsicans protesting about the pollution risk posed by Costa Concordia are sending a flotilla of small boats to shadow the wreck as it passes their coast. However, no attempt will be made to disrupt the passage of Costa Concordia and its convoy, 25km off the coast of the French island of Corsica,
Singapore LNG imports soar Singapore's LNG imports more than doubled in 1H14. IHS Maritime Market Intelligence Network vessel-tracking data showed 1,546,539m³ of LNG was delivered to the city-state in 1H14, based on vessels chartered by BG Group, the appointed aggregator of LNG there. This comes as Singapore continues to
Cowes breakwater moves to phase three A coastal protection project at Cowes, on the Isle of Wight, UK, has completed its second stage. Dutch dredging contractor Boskalis has installed an initial 1.5m layer of sand and gravel along Cowes Harbour's new outer breakwater and is beginning phase three of the 18-month project. Work on the 350m
More cruises pulled from Israel Costa is the latest cruise company to temporarily pull calls from Israel as a result of the armed conflict in Gaza. In a statement on 24 July, Costa reported that calls in Ashdod and Haifa by the Costa Pacifica and Costa Deliziosa from September through November would be replaced by calls in Turkey
Ezion remains as top pick, doubts hang over Vard Singapore-listed Ezion Holdings is the top pick in offshore and marine sector for its strong, locked-in earnings growth, said Lee Yue Jer, investment analyst at DMG & Partners Securities. Lee has set the target price of SGD3.00 ($2.42) per share for Ezion, while the company currently trades around
China and Cuba ink deals on port and nickel ore China and Cuba signed 29 co-operation agreements on Tuesday during Chinese president Xi Jinping's visit to Cuba, including one deal on port construction and another on nickel ore. China's Bank of Import and Export signed an agreement with Cuba's Santiago Port, second-largest port in Cuba, to loan
S Korean big three to see more commercial orders For Korea's big three shipbuilders - Hyundai HI (HHI), Samsung HI (SHI) and Daewoo Shipbuilding & Marine Engineering (DSME) - commercial ship orders should increase 13% year on year and partly offset the 30% drop in offshore vessel orders, said analysts. True Friend Korea Investment & Securities'
Seventeen crew rescued after storm A total of 17 crew members onboard a general cargo ship were rescued early today after the ship ran aground off Fujian province, China, due to Typhoon Matmo. By 07.00 local time today, 17 crew members onboard the 1982-built 14,398dwt Tuvalu-flagged Ana were rescued without serious injuries, the
N-KOM wins contracts worth $128.9M Nakilat-Keppel Offshore & Marine (N-KOM) and Singapore-headquartered Keppel Offshore & Marine have secured a contract worth QAR69M ($18.9M) to design and construct a floating jetty for Qatar Primary Materials Company (QPMC). The floating jetty is the first project that N-KOM, a joint venture
Daehan Shipbuilding to repay its debts early Seoul Central District Court announced on Tuesday that it has allowed Daehan Shipbuilding, a South Korean mid-sized shipbuilder, to pay off debts early to its existing customers. The shipbuilder has been in receivership since 7 July. Usually, if a company goes into a receivership, it cannot repay
Chinese deals fail to affect Valemax berthing Vale's recent three deals with China does not mean that its mega ships can call at Chinese ports, China's largest shipowner, COSCO, stated earlier this week. The shipowner is not clear about the details of the three deals, but it is quite sure that they have no relation to the calling of Valemaxes
Samudera swings into profit in 2Q14 Singapore-listed container line, Samudera Shipping Line, rebounded to profit in 2Q14. The company recorded a profit of $4.28M in the second quarter ending 30 June, compared to a loss of $3.59M in the same period last year. However, Samudera registered a drop in revenue of $96.9M in 2Q14, a 7.6%
Changhang Phoenix continues restructuring Changhang Phoenix, a listed bulk carrier-operating unit of Sinotrans & CSC, is pushing ahead with its restructuring plan by increasing its share capital by 50% to repay debts and improve its operation capabilities. The company will use its capital reserves to boost the share capital by 50% to 1Bn
Swissco seeks synergy through takeover Singapore-based offshore support vessel operator Swissco told IHS Maritime that it is seeking to expand into other areas by acquiring compatriot marine service provider Scott and English Energy. Swissco finalized its $230M acquisition of Scott and English Energy on 22 July. In an interview with IHS
Norfolk Southern combating slow train speeds with hiring, investment Second-quarter volume increases have hampered Norfolk Southern's ability to bring up train velocities after a cripplingly harsh winter. NS COO Mark Manion pointed to the train speed issue during the company's second-quarter earnings call yesterday. Norfolk Southern saw a volume increase of 8 percent in the second quarter - a volume...
Stifel: Matson potential buyer of Horizon's Alaska service A sale of Horizon Lines' Puerto Rico service could prompt the carrier to also sell its Alaska route, with Matson the most likely buyer, analysts at investment bank Stifel Nicolaus said in a research note. Horizon reportedly has been in discussions to sell its U.S. mainland-Puerto Rico service to competitor Crowley...
What's still holding back rail service? When rail service tanked last winter, a key culprit was easily visible. In the center of the polar vortex, the intermodal hub of Chicago was besieged by a never-ending series of bruising winter storms and frigid temperatures that hampered operations and drove the local railroads into the ground. But now...
DP World's traffic surges in first half DP World's container traffic increased 9.3 percent on a like-for-like basis in the first half of 2014 from the previous year to 29.4 million 20-foot-equivalent units, driven by strong growth at its terminals in the Asia-Pacific region, the Indian subcontinent, Europe and the United Arab Emirates. Total volume on a reported...
At Landstar, freight market, truckload revenue shift from 'choppy' to 'strong' Landstar's Henry Gerkens is among those rejecting the possibility of a big drop in freight demand as the third quarter winds down. The freight trends the chairman and CEO of the fifth-largest U.S. truckload carrier is seeing point toward a strong second half this year. "I believe the current operating environment...
Superior shippers understand carrier needs - Transplace survey As trucking companies strive to improve efficiency and streamline operations, shippers that actively help motor carriers improve productivity and profitability are the most desirable business partners, according to a new survey by Transplace. Results from the third-party logistics provider's Preferred Shipper Program Survey showed that factors that influence motor carriers' finances,...
FMC proposes change in OTI public notices The Federal Maritime Commission is seeking authority to use its website instead of the Federal Register to provide public notice when it revokes or suspends the licenses of ocean transportation intermediaries. The FMC said the Administrative Procedure Act and Freedom of Information Act don't require Federal Register notice, and that posting...
Air cargo executives expecting good year Airline CFOs and heads of cargo are broadly positive about the outlook for the air freight industry and expect profitability to improve, according to IATA's latest quarterly business confidence. The optimistic responses from cargo executives reflected recent developments in the demand environment. Respondents reported growth in air freight volumes over recent...
Trucking numbers point to stronger US freight recovery The U.S. economic recovery may be slow, but the freight recovery is moving faster. Rising freight demand is clear in the second-quarter earnings reports from carriers such as Knight Transportation, Marten Transport, Heartland Express and Werner Enterprises. Knight Transportation increased total revenue 7.9 percent year-over-year to $264.2 million, while truckload revenue, excluding...
Strong Malaysia trade drives Westports' growth Malaysia's Westports Holdings turned in an impressive first-half performance, with throughput rising 13 percent year-over-year and strong growth across all trade lanes. The port operator handled 4.02 million 20-foot containers between January and June, with the growth led by transshipment containers, whose throughput grew by 14 percent, Westports announced. Intra-Asia trade was...
CMA CGM reshuffles two Asia-West Africa services CMA CGM said it will reorganize the rotations of its ASAF and WAX lines to improve service between Asia and West Africa. The carrier will add two more North China port calls (Xingang and Qingdao) to its ASAF service, a weekly line dedicated to Angola, Congo and Namibia. The port rotation...
Nhava Sheva ship agents worry about rising cargo backlog Ship agents at India's Port of Jawaharlal Nehru (Nhava Sheva) have expressed concern over a lack of effective measures by state-owned rail operator Container Corp. of India in clearing import backlogs that have reached "unprecedented" levels at the country's biggest box gateway. In a letter to Concor, the Mumbai-Nhava Sheva Ship...
Double-Double's three prongs Royal Caribbean Cruises' chief executive laid the path to the cruiseship giant's new "Double-Double" programme to aggressively boost earnings.
Vale sees production surge Vale, whose output fuels the Brazil-to-China capesize trade, posted the best second-quarter iron ore production totals in its history.
Diamond drillship fixed Murphy Oil has struck a $200m contract to take a Diamond Offshore Drilling newbuilding drillship for 265 days.
Stemcor and Thomas settle Dispute over severance pay revealed in this week's paper has been resolved.
Getting closer Ireland-based Ardmore Shipping has nearly completed the full financing of its fleet.
Ardmore adds $53m New York-listed Ardmore Shipping has borrowed another $53m to pay for three newly acquired tankers.
SFI sells VLCC trio John Fredriksen-linked Ship Finance International (SFI) has sold three veteran VLCCs due to the cost of their upcoming 15-year special surveys.
Keppel keeps on Singapore's Keppel Corp has pushed up second quarter profit as revenue improved.
BWO in full control Oslo-listed FPSO specialist takes full ownership of a unit operating off Gabon.
Wartsila selling out Finland's Wartsila is disposing of its holding in a Chinese two-stroke engine manufacturer.
Small tankers in sights A spate of attacks on small tankers off Southeast Asia has been highlighted as a worrying trend by the International Maritime Bureau (IMB) amid a downturn in global pirate activity.
Trawler sinks in clash Three crew have been rescued following a collision that sank a Japanese fishing vessel.
Farstad flotilla fixed Farstad Shipping has unveiled a string of contracts for its anchor-handlers and platform supply vessels running to over $280m.
Typhoon grounds tanker Four crew were taken off a tanker by helicopter after it grounded in a storm off Taiwan.
LNG quartet raises $787m Australia and New Zealand Banking Group (ANZ) and the Export-Import Bank of China (China Exim) have teamed up to lead a $787m financing deal for four new LNG carriers in China.
ICTSI takes $350m Philippines port operator ICTSI has fixed a new five-year loan worth $350m.
DP World posts growth Dubai's DP World handled 29.4m teu in the first half of 2014, up 9.3% year-year.
Amakusa set for repairs A Japanese bulker which went aground off Canada last week is due to undergo repairs near to where the casualty took place.
Ezion sells Oz ops Ezion Holdings is to sell its marine base and Australian vessel businesses to AusGroup for SGD 55m ($44m) in cash and shares.
Harvey orders MPFSV Harvey Gulf International Marine has ordered a hybrid multi-purpose field support vessel (MPFSV) newbuilding.
Degnan elected as chairman of NY/NJ Port Authority Degnan was nominated by New Jersey Gov. Chris Christie and confirmed by the New Jersey State Senate on July 10. Christie has been slammed for the role members of his administration had in the so-called "Bridgegate" scandal.
ILWU, PMA resume talks, but break scheduled for next week
Independent drivers file suit against FMCSA
Hapag-Lloyd warns of West Coast congestion In Vancouver, Canada, the carrier said that "an increase in volumes diverted away from U.S. West Coast, coupled with limited allocation in rail cars to U.S. corridors, has resulted in significant congestion and increased dwell times."
$9.5 million authorized for New Jersey port road improvement The project will improve access to the terminal gate complex and enhance the movement of new vehicles between BMW's processing facility and the vessel-berthing area. The road improvements are being funded by cargo facility charges.
Jacksonville gets PORTS sensor array
Costamare reports higher revenues as fleet grows
Pirates target small tankers
Qatar takes majority stake in UASC
Roadrunner buys ISI for $13 million
Philadelphia container volumes up 29% in first half of 2014 "As I commented this past spring when preliminary cargo figures began rolling in, we're really entering a great period here at the Port of Philadelphia," said Charles G. Kopp, chairman of the Philadelphia Regional Port Authority.
Colombian supplier's monthly MGO fuel sales 'good so far' Roughly 5,000 mt of product sold monthly, says C.I. International Fuels.
ABS, MPA to collaborate on clean fuels R&D MoU coverage to include research on LNG bunkering.
Southeast Asia tanker hijackings 'a cause for concern' Coastal tankers have suffered 'serious attacks'.
Prices firm across Europe Quiet market in Rotterdam.
IFO prices firm in Fujairah Tight avails in the Middle East hub.
GAC boosts London office Member of staff moving from Denmark to UK.
Pollution levels trigger fresh calls for an ECA Environmental group claims Hong Kong's air quality is at its worst in nearly a decade.
Fuel oil inventory drops by 20% Singapore's onshore stocks are at their lowest level in nearly five months.
Wartsila sells stake in Chinese engine maker 'Move frees up resources and increases emphasis on accelerating development of new engines,' company says.
Malta to grow its bunker sector 'Malta has a clear competitive advantage in terms of sea-based logistics,' says government official.
New EU sanctions target Crimean ports Ship operators could fall foul of national and international law.
Bunker prices rising in Singapore, Hong Kong Meanwhile, rates held steady at other key regional ports.
Chinese players struggling with low demand But 'teapot' refiners show renewed interest in 380 cSt material.
Shipping group back to Q2 profit Bottom line helped by lower bunker prices.
Russian refiner posts jump in bunker output MGO production was up 21-fold in Q2.
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