GulfMark warns of softening US Gulf activity Offshore vessel owner increases revenue and seeks secondhand ships in Southeast Asia
OSG asks for more time to complete Chapter 11 exit plan Court filings show the company is seeking a 30-day extension to end-March
J. Lauritzen admits 2013 result was 'unsatisfactory by any measure' Danish bulk carrier looks to improving dry bulk market in 2014
Demolition rates soften on the Indian subcontinent Trend reflects strong flow of container tonnage into the market this month
Chinese new year box boost raises index to record January high German analysts point to steady upturn in world trade
Chinese state carriers increase their share of national crude oil imports But four firms' 47% Unipec share falls far short of 2015 policy goal of 70%-80%
Seychelles police reveal Maersk Alabama security officers autopsy result Former US Navy SEALS died of respiratory failure with suspicion of heart attack
Nakilat looks to growth on posting stable annual net profit Qatar gas shipowner targets overseas expansion, tie-ups and finance deals
Rongsheng seeks $129m from private investors in China Free to read: Wang and Zheng agree to buy more convertible bonds
Mermaid Marine Australia agrees Jaya acquisition Deal worth $495m would create one of the region's largest offshore services firms
BW Group buys out Heidmar stake in Womar tanker pools Free to read: Deal for an undisclosed price should be completed by the end of March
Golden Ocean profits rise But Norwegian group warns of first-quarter weakness
Scorpio Tanker stock breaks $10 on 2014 optimism and dividend New York-listed tanker giant books higher vessel revenues in 2013
Shipbuilder denies error in MOL Comfort's design and construction Defence of MHI comes before first hearing of case intertwined with cargo and other interests
Evergreen exploring further alliance opportunities after strategy U-turn Taiwan line looking at north-south and feeder cooperation pacts
Matson takes hit with settlement charge Management still wants in on Alaska trade
Golden Ocean leaves door open to expansion Golden Ocean Group, the listed dry bulk shipping venture in John Fredriksen's business empire, has reported a sharp rise in net profit for the final quarter and full year 2013
BW Group buys stake in Womar pool Singapore-based shipping company BW Group said it has acquired Heidmar's stake in Womar, which operates four pools of product tankers up to 30,000dwt
Seadrill warns of slower market growth Seadrill has warned that the offshore market may grow slower in 2014-15 than expected, adding that it does not plan to order any more deepwater rigs until the direction of the market becomes clearer
Golden Ocean's profits rise Golden Ocean's profits increased 92% year on year to $18M in the fourth quarter of 2013
Singapore to build another LNG terminal Singapore is to have a second LNG terminal, the city-state's premier Lee Hsien Loong announced today
Australia adds bulk liquid storage NSW Ports opened a second bulk liquids berth at Port Botany on Friday, while GrainCorp this week announced it is investing A$70M in three new bulk liquid storage facilities for Brisbane, Port Kembla and Fremantle
Bumi Armada witnesses record year despite slump Malaysian oil field service provider Bumi Armada recorded a 12% increase in the net profit for the whole 2013, despite a 19% drop year on year in 4Q13, said a report by CIMB Equities Research
Jaya to sell its businesses for $494M Singapore-listed Jaya Holdings has agreed to sell all its subsidiaries to Mermaid Marine Australia for SGD625M ($494M) in cash, a stock filing of Jaya said today
Pan Ocean chooses Hankuk Steel Wire as preferred bidder Pan Ocean announced yesterday that Hankuk Steel Wire was finally chosen as the preferred bidder in the bid for sale of one of its affiliates, STX Savings Bank
RSHI to issue second tranche of convertible bonds China Rongsheng HI (RSHI) plans to raise about HKD992.5M ($128.0M) in net proceeds by selling its second tranche of convertible bonds since December 2013
Big Banks Offer New Services to Speed Freight Payments When Nebraska-based Daycos began automating its freight invoice processes in the 1990s, most of its customer base of moving and storage companies weren't getting paid until 30 to 45 days after filing their invoices. Since then, CEO Brandon Day notes, Daycos' billing process has decreased to an average of four to...
Customization Key to Growth for Traditional Freight Payment Providers While wide-ranging financial institutions are becoming more active in automated freight payments, more traditional, often dedicated providers of such services such as Cass, Ultra Logistics and CT Logistics are surviving by focusing on the intricacies of managing customers' transportation spending. St. Louis-based Cass Information Systems is the sector's largest such provider...
California Government Sector Urged to Promote Port Growth The vice president of the Pacific Merchant Shipping Association called upon California's political leadership to help return the ports to a "virtuous cycle" in which growing cargo volumes generate the revenue needed to build infrastructure and pay for environmental improvements. "We can't afford not to promote growth in trade volumes," Mike...
Panamax Ship Scrapping Not Enough to Reset Capacity Balance Two Panamax ships transiting the El Corte River in Mexico.While an increase in the scrapping of Panamax ships may help counteract oversupply in the container shipping industry, it won't be enough to solve overcapacity. Overall, 460,000 TEUs, or 2.6 percent of the global container ship capacity, were scrapped in 2013, a...
NJ Legislators Seek Curb on Waterfront Commission New Jersey legislators are seeking to restrict the authority of the Waterfront Commission of New York Harbor, which is battling port employers and the International Longshoremen's Association over rules for hiring dockworkers. Assemblymen Gordon Johnson, Ralph Caputo and Thomas Giblin, all Democrats, filed a bill to give the governors of New...
Both Sides of Truck Weight, Size Fight Gear Up for Next Battle WASHINGTON - The next battle in the ongoing fight over increasing truck weight and size is on the horizon, as the House and Senate begin work on the next federal surface transportation bill. But the face-off of American Trucking Associations and some major shippers versus the rail industry and safety advocates...
Rickmers Trust Posts 4Q Loss on Higher Operating Expenses Rickmers Maritime Trust posted a fourth quarter loss of $8.0 million, a swing of $10.2 million from the $2.2 million profit it made in the same quarter of 2012. The loss occurred even though its charter revenue was marginally higher year-over-year at $36.4 million and its 16 container ships were fully...
Asian Air Hubs See Solid Growth Asia's leading air freight hubs have gotten off to an encouraging start to the year, posting healthy growth rates across the board in January. Last year Asia-Pacific airports saw only a 0.9 percent increase in tonnage, according to data from Airports Council International. But demand picked up toward the end of...
Nagoya Remains Japan's Top Export Hub The Port of Nagoya in central Japan retained its status as the biggest export hub among the nation's airports and seaports in 2013 in terms of value, according to recent figures from Tokyo Customs and Nagoya Customs. The Port of Nagoya grabbed this status from Narita International Airport near Tokyo for...
OSG seeks extension Overseas Shipholding Group (OSG) has asked the court overseeing its Chapter 11 bankruptcy case for more time to fine-tune its exit strategy.
ISS sounds alarm Inchcape Shipping Services (ISS) is urging operators to be prepared for severe disruptions at Canada's largest port.
ECO torches Title XI app Edison Chouest Offshore (ECO) appears to have abandoned its application for federal loan guarantees backed by the US Maritime Administration (MarAd).
GulfMark buys modern PSV GulfMark Offshore has purchased a modern platform supply vessel (PSV) as part of a hunt for second-hand tonnage.
Lauritzen loses less Danish owner J Lauritzen (JL) has reduced its loss in 2013, but bulker charter defaults still hurt the bottom line.
GLDD dragged lower Great Lakes Dredge & Dock (GLDD) was dragged deeper into the red in the final quarter by its loss-making demolition business.
Diana adds $5m Greek bulker owner Diana Shipping has added another $4.8m to its $60m share issue after underwriters bought 55.5% of their over-allotment allowance.
Cosco to feel more pain Cosco Corporation (Singapore) will have a very tough time turning around its disappointing showing in 2013, analysts says.
Atlantska reduces red Croatian bulker owner Atlantska Plovidba has posted a smaller loss for 2013, despite falling revenue.
Reach hit by hold up Reach Subsea booked a deeper fourth quarter loss as a delayed contract and the cost of starting up its offshore operations wiped out a steep rise in revenue.
Dell buys into StealthGas Computer billionaire Michael Dell has emerged as a major shareholder in Harry Vafias-led StealthGas.
Courage slashes loss Hong Kong-listed Courage Marine has cuts its 2013 deficit as revenue increased.
Scandlines seeks yards Baltic owner Scandlines is looking for a shipyard to modify two ro-paxes it bought back from bankrupt German shipbuilder P+S Werft.
Double boost for Scorpio Scorpio Tankers shares surged in the US last night as the company showed huge profits on both its VLGC and VLCC investments.
Coastal profit rises Malaysian shipbuilder and owner Coastal Contracts has pushed up 2013 earnings as costs decreased.
Stranded cargoship sold A cargoship stuck in a UK port for more than a year could be set to leave after a buyer was found.
Eurotunnel ruling delayed A decision on whether Eurotunnel's MyFerryLink operation can continue at Dover has been postponed to mid-May.
Heidmar cuts Womar ties Andreas Sohmen-Pao's BW Group has swooped to buy a stake in Womar from George Economou controlled Heidmar.
Sealink surges Malaysian offshore shipping company Sealink International has returned to profit for 2013 as revenue soared.
Gulkmark in record finish Gulfmark Offshore posted a huge rise in fourth quarter and full year earnings and promised more to come.
Solid from Ocean Yield Ocean Yield has more than doubled its fourth quarter profit as it measured up with market expectations for the period.
Golden lifts dividend John Fredriksen's Golden Ocean showed its confidence for a dry cargo market recovery by jacking up its fourth quarter dividend.
Baltiysky under threat Russian shipyard Baltiysky Zavod is in danger of losing a state icebreaker order.
India eyes ship deals India's National Shipping Board (NSB) is eyeing ship buys to boost crew training.
Rongsheng raising more Trouble shipbuilder China Rongsheng Heavy Industries is selling another HKD 1bn ($129m) of bonds to reduce debt.
RMT expects rate hit Rickmers Maritime Trust (RMT) is expecting to take a large hit when two of its containerships come up for charter renewal next month.
Aussies pounce on Jaya Mermaid Marine Australia is poised to snap up Singapore's Jaya Holdings in an all cash deal worth SGD 625m ($490m).
Vard ends year on high Vard, the Fincantieri-controlled shipbuilder, has seen a strong end to the financial year with an eight-fold increase in fourth quarter profit.
Japan threatens action Japan may take Indonesia to the World Trade Organisation (WTO) over its ban on ore exports, according to Japanese media reports.
Legal eagle takes flight The head of bankrupt Taiwanese owner Today Makes Tomorrow (TMT) has been accused of falling behind on his legal bills.
PACD in denial Pacific Drilling has not ordered a deepwater drillship despite reports to the contrary, TradeWinds has learned.
CBP expands simplfied entry to more airports, modes U.S. Customs and Border Protection on Monday expanded the ACE Cargo Release Pilot program to 14 more airports three weeks after expanding the program beyond the air mode to ocean and rail.
Job Growth from NY/NJ port most evident at warehouses A study commissioned by the New York Shipping Association said the port creates 165,350 direct jobs and 296,060 full-time jobs in the region. That's up from 279,200 full time jobs in 2010.
Expeditors reports 1% drop in Q4 profit
Drewry: Med transshipment volumes growing Drewry predicts that "bigger east-west ships and larger alliances are likely to continue to allow key transshipment hub ports in the Mediterranean to outperform underlying organic market growth."
Washington Notebook: U.S., Canada launch truck pre-inspection program
No deal after latest round of TPP talks After a four-day meeting in Singapore, representatives from the 12 countries represented under the proposed Trans-Pacific Partnership say they have made "further strides" toward the agreement, but came away from the meeting without a deal.
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