Nyborg steps up at Norden Former Pacific Basin chief executive to fill in for Mortensen
Brown promoted as Lloyd's Register reorganises operating regions Barrow and Poulovassilis responsible for northern and southern Europe respectively
US LPG exports to hit record in July, Avance Gas predicts Next month to be hotter than May's 1m tonne record
Growing crude trade from Russia's Kozmino boosts aframax employment Four years in, East Siberia generates nearly five shipments a week to Asia's oil importers
P3 decision shows why shipping needs a global competition body, says lawyer Single authority would benefit the industry, says Holman Fenwick Willan partner
Scorpio Tankers boosts fundraising target to $300m New York-listed company seeks more cash to buy back shares and stock
Pacific Basin ends talks to sell towage unit Impairment charge will push Hong Kong dry bulk player to a first-half loss
Price war looms as ECA could add $184m a year to Baltic feeder costs Low-sulphur surcharge battle is likely as compliance is a heavier burden than the fines
GasLog completes takeover of three more BG vessels Second trio of LNG carriers have been chartered back to gas major
GasLog orders two LNG carriers from Hyundai Pair of vessels plus four options mark owner's first order at yard
Ultra planning Precious Shipping factors in changing port depths when ordering tonnage
Nigerian navy preventing use of armed guards IMO has requested clarification from country's authorities
Nautilus Holdings files for Chapter 11 as $728m debts take their toll Boxship operator blames depressed market and expiry of lucrative contracts
Steady Middle East volumes and rise from US boost Avance Gas profits Expanding VLGC owner reports a busy second quarter
International Chamber of Shipping welcomes move to protect oceans New ideas merit serious consideration, says ICS secretary-general Hinchliffe
We want your #seafarerselfie Day of the Seafarer: Lloyd's List seeks the face of global shipping
Havyard completes IPO Havyard, the Norwegian shipbuilder that focuses on offshore services vessels, says it has competed an IPO. Ttrading in the shares of the company is expected to commence on 1 July. The company offered a total of 4.2M shares at a price of NK33.5 ($5.58) each, plus an over-allotment of 420,000 shares
HHI gains GasLog LNG sextet Hyundai Heavy Industries (HHI) has gained an order for up to six LNG carriers from Monaco based shipowner GasLog. The New York listed owner has ordered two firm 174,000m³ vessels with delivery scheduled for 2H 2017 and options for a further four vessels. If the options are converted they have a
Hakodate wins handysize trio Japanese shipbuilder Hakodate Dock has won orders for three Handysize bulkers with two for returning German owner Johann M K Blumenthal and one for a Japanese owner. The two 34,000dwt vessels will have an overall length of 179.9m, a beam of 30m, and a depth of 13.7m, with delivery scheduled for May
Taizhou Kouan secures order for eight Ultramaxes Chinese shipbuilder Taizhou Kouan shipyard has secured an order for up to eight Ultramax bulkers from Greek company Veritas Ship Management at a total cost of $215M. Brokers indicate that the deal is for four firm 64,000dwt vessels and four options with Veritas managing for the as yet unnamed owners
EC prolongs liner consortia extension The European Commission yesterday granted liner shipping consortia a five-year extension of their block exemption from EU competition legislation. The commission said that, after public consultation, it had found the exemption worked well, providing legal certainty for agreements that benefited
Greek ferry delays new Swedish company An overrun refit of a ferry in Greece has delayed the start-up of a new company in Sweden, the Gotlandsbåten ferry company said. "As we have not as yet received a clear message from Greece when Vastervik can arrive [in] the Baltic and be ready for service, we have chosen to close bookings. As soon
Delays cost Shanghai yard $163M Shanghai Shipyard, a subsidiary of China State Shipbuilding Corporation (CSSC), ended 2012 with more than CNY1Bn ($163M) in losses. This is because of serious delays in construction on 36 of its 39 newbuildings. The losses were revealed yesterday after China's National Audit Office reviewed 2012
Malaysia keen on east-west rail link Malaysia is keen to build a rail link between its west and east coasts as it bids to provide an alternative to the crowded Malacca Straits, a speaker at the Infrastructure Outlook 2014 said. Malaysia's Land Public Transport Department (SPAD) has consultants working on the rail link project, Scomi
Sewol survivors to testify Surviving passengers of the capsized ferry Sewol will testify at the trial of 15 crew members at the end of July. This was decided yesterday during the third day of the trial at a court in Gwangju, South Korea. Lee Jun-Seok, who was at the helm of the Sewol when it went down on 16 April, and three
Keppel Shipyard finalizes LNG contract with Golar Singapore-listed Keppel Shipyard has signed a conditional contract with Golar Hilli, a subsidiary of Golar LNG, to perform what will be the world's first conversion of an existing Moss LNG carrier into a floating liquefaction vessel (FLNGV). According to the corporate announcement, the contract will
OW Bunker buys Wilhelmsen Marine Fuel Global marine fuel company OW Bunker has acquired Wilhelmsen Marine Fuels, a marine fuel broker, for an undisclosed sum. "Wilhelmsen Marine Fuels has a strong team and an interesting customer base that fits well into OW Bunker's integrated business model. Apart from strengthening our position in
Summer lull hits chemical shipping market Chemical freight rates have been hit by weak summer demand, with the Asian market displaying weakness in all routes. "Trade lanes within Asia have started to feel the pressure of the summer season with rates, in some cases, coming off about 50 cents/tonne in the spot market in the last week as
Intermodal rates bucking usual trends IDS Top 36 Lane Index: U.S. Intermodal Rates Full-size chart Tightening north-to-south and south-to-north U.S. markets have pushed intermodal rates lower as rates continue to normalize from record winter highs. An index of 36 major U.S. intermodal lanes dropped 1.7 percent this week to $2,117, according to data on all-inclusive 53-foot door-to-door spot...
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. Related Stories FMC seeking clarity from carriers on US West Coast congestion surcharges West Coast work stoppage poses...
Container shipowner-charterer files for bankruptcy protection Nautilus Holdings Ltd., which charters 16 container ships to ocean carriers, filed for bankruptcy protection, citing a "depressed" charter market. The Bermuda-based company listed assets of more than $500 million and debt of more than $100 million in its Chapter 11 filing in U.S. Bankruptcy Court in White Plains, New York....
FMC seeking clarity from carriers on US West Coast congestion surcharges WASHINGTON - U.S. Federal Maritime Commission Chairman Mario Cordero today said the agency is reaching out to container lines for specifics on their planned congestion surcharges ahead of potential work stoppages at U.S. West Coast ports. "What we want to make sure is that there is specificity [in congestion surcharges] because...
West Coast shippers prepared: Cargo soars at Canadian ports Port Metro Vancouver's throughput climbed 14.6 percent year-over-year in May. Full-size chart West coast Canadian ports experienced double-digit year-over-year volume growth in May, signaling that some North American shippers have followed through on plans to divert cargo from the U.S. West Coast ahead of the midnight June 30 expiration of the dockworker...
NC ports agency charts more diverse course The North Carolina State Ports Authority has decided to zig while its larger South Atlantic competitors zag. "We're selling differentiated service where we have an edge. We're working to capture business that others aren't interested in," said Paul Cozza, the new CEO at the North Carolina agency that oversees the ports...
Drewry: Cargo diversion holding back trans-Pacific spot rates Spot rates from Hong Kong to Los Angeles are holding steady at a two-year low. Full-size chart Spot rates from Hong Kong to Los Angeles are holding steady at a two-year low this week, and they could stay that way until labor negotiations at U.S. West Coast ports are completed. Drewry's benchmark spot...
Etihad Airways gains European foothold with Alitalia deal Alitalia aircraft.Etihad Airways today established a foothold in Europe's second-largest air freight market with an agreement in principle to acquire a 49 percent stake in Italian flag carrier Alitalia. Etihad didn't disclose financial details of the deal, which followed seven months of negotiations, but Italian transport minister Maurizio Lupi has said...
US export financing tool in jeopardy WASHINGTON - U.S. manufacturers could lose a powerful resource that helps some of their foreign customers get loan guarantees they couldn't secure in the private sector, which backers say allows many American exporters to stay globally competitive. The future of the Export-Import Bank is in doubt, as many House Republicans are...
KCS intermodal facility to tap growing Dallas market Kansas City Southern Railway's new intermodal facility will allow the railroad to handle the growing conversion of truck loads to the rails in the Dallas region. The Wylie, Texas, terminal will open in mid-2015, giving the railroad more than 57 percent more annual lift capacity than it has at its nearby...
Electronics shippers turn to China-Duisburg rail route Hewlett Packard produces half of its laptops in the giant central Chinese city of Chongqing. One of the first movers in the Go West initiative, the computer and electronics company churns out 60,000 motherboards a day. Getting the computers to the global markets from a city more than 2,000 miles inland...
Asia-Europe container trade on road to recovery: HSBC The worst is over for the Asia-Europe container trade as slow-steaming and scrapping of old vessels begin to address excess capacity, according to a recent report from HSBC's transport analysts. "In the short term, the Asia-Europe route is showing signs of improvement. Further out, slow-steaming and the scrapping of old vessels...
Deep Sea seals deal Deep Sea Supply has completed the acquisition of ten platform-supply vessels from an affiliate of Norwegian shipping mogul John Fredriksen.
Crowley seeks cash A leading tug, tanker and containership operator has rejoined the race to secure loan guarantees backed by the US Maritime Administration (MarAd).
CSC lines up tanker Sri Lanka's Ceylon Shipping Corp (CSC) has won government approval to pursue a new tanker acquisition.
Havyard gets IPO away Norwegian shipbuilder Havyard has completed its Oslo IPO after cutting its share price on the final day.
Olsen refinancing Fred Olsen holding companies Bonheur and Ganger Rolf are lining up Norwegian bond issues.
Pac Basin sale off Hong Kong owner Pacific Basin is now expecting to post a loss in the first six months after it failed to complete a sale of its harbour towage business.
UK Chamber 'disappointed' The UK Chamber of Shipping has reiterated its backing for new sulphur emissions legislation after its views were "misrepresented" in a parliamentary debate on the impact it will have on domestic ferries.
Nyborg in for now Norden's vice chairman Klaus Nyborg will take over as interim CEO after Carsten Mortensen bagged the top job at BW Group.
GasLog adds more LNG ships New York-listed GasLog has lined up an additional six LNG newbuildings in Korea.
CSAV prices high Chile's CSAV has priced its new share issue 29% above its closing price on Tuesday.
Nigeria kills three pirates Nigerian forces have killed three pirates who attacked a joint task force (JTF) patrol boat.
Total tears up AOS deal Aker Solutions has lost an offshore vessel charter with Total worth $150m.
Fesco expands again Russian owner Fesco is to invest $200m in a new terminal in the Moscow region.
Kouan clinches Veritas bulkers China's Taizhou Kouan shipyard has won a deal to build eight bulkers for Greek owner Veritas Ship Management.
Rates boost Avance Avance Gas has moved into profit for the second quarter of 2014 on the back of the very strong VLGC freight market.
Edda Fonn fixed out Norway's Ostensjo Rederi has secured a potential four year charter for one of its ROV and subsea vessels.
NAO tops up fundraiser Underwriters for Nordic American Offshore's (NAO) IPO have exercised in full their option to buy additional shares in the company.
Gulftainer Florida bound Gulftainer has signed a long-term deal to operate container and multi-purpose cargo terminals at Florida's Port Canaveral.
Bigger STNG Scorpio Tankers (STNG) has upsized its sale of convertible notes to $300m on favourable pricing terms, finance sources said today.
Golar seeks Hilli cash Golar LNG Limited will sell up to 12.7 million shares to pay for the conversion of an LNG carrier into a floating liquefaction unit.
Ex-Im Bank renewal caught in political crossfire The primary defeat of Eric Cantor, who has stepped down as majority leader, opened the door to Tea Party activists in the House to kill the bank. Cantor helped push through the bank's re-authorization two years ago.
IAG expands courier service to Houston, Seattle IAG said this solution is tailor made for forwarders who need a last-minute booking but don't want to pay to transport the cargo to the airport. The program started at airports in Atlanta, Chicago, Dallas, London and New York.
UPS breaks ground on Memphis expansion
STB requires grain-shipment plan from CP, BNSF The board said shippers have reported "grain elevators running out of storage capacity, risks of stored grain spoiling, and penalties incurred by grain shippers for products that are not delivered on time."
Fujairah schedules 'looking busy' Prices in Middle East hub show little change on Wednesday.
Prices soft in European hubs Tight avails seen for HS product in Hamburg.
Trident Alliance launches next week Focus is strict enforcement of 2015 sulphur regulations.
EU seeking sampling guidelines for sulphur checks Setting up guidelines for taking 'in-use' fuel samples from ships has so far not been successful at the IMO.
Fuel oil imports tumble China's monthly fuel oil imports fell to their lowest level in 12 years in May.
Liberia: 'We don't need new regulations' Says to focus on effective implementation of existing rules as 'the result of ineffective implementation is yet more regulation'.
Container lines win exemption from anti-trust laws Rising fuel prices and larger vessels make consortia 'an even more important tool'.
Volatile compounds can play havoc with flash point Small fraction in the fuel blend can make a bunker stem off-spec.
Asian IFO market broadly steady Meanwhile, MGO rates were lacking a clear direction.
Cruise line sees quarterly profits leap Fuel savings add to bottom line line growth.
Brightoil secures $120 million loan agreement Loan of 10 year term has been arranged with Credit Suisse.
Malaysian bunker player reports stronger earnings Company planning to lease bunker storage tanks at Sabah ports.
More type approvals for battery storage system System now has type approvals from three classification societies.
Bomin Group subsidiaries relocate Three marine fuel firms now under one roof.
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