Containerships to get more LNG boxships Finnish shipping line returns for another two gas-powered boxships to meet sulphur regulations
Middle East-Asia naphtha trade supports LR2 earnings Torm among owners to benefit
Yard Talk | Hyundai Heavy Industries faces strike threat World's largest shipbuilder struggles to meet union demands after posting worst quarterly results
World Maritime Day focuses on delivering reform Implementation of IMO regulations needs a better understanding of each member state's legal system
ClassNK plans to meet IACS members over MOL Comfort next month Japanese class society responds to DNV GL criticism
UASC and Hamburg Süd partnership will cater for whole network UASC president says tie-up is about more than getting market share on Europe and Asia to South America trades
Singapore buys LNG from BP's US project Gas supply contract is for 20 years, offering work for vessels
Skou sets out Maersk Line's future Liner operator plans for newbuildings and increased competition in north-south trades
Shipowners donate $1.5m to tackle roots of Somali piracy Funds will help UN programme to develop alternative livelihoods
Trade groups call for added land and better policy at Hong Kong Moves are needed to ease congestion which is hurting the territory's competitiveness
Uncertain times for handysize owners Brokers bemoaning shortage of cargoes, but is it really so bad?
Exmar Energy Partners files for an IPO to raise $125m Offering will bring master limited partnership the right to buy FLNG vessel and stake in LNG carrier
Libya's crude shipments hit a 13-month high But supply growth outpaces demand, putting light crude prices under pressure
Spill hampers Quintero Bay operations Several tanker facilities in Chile's Quintero Bay have been impacted by a small spill from intake hoses that broke free from the tanker LR Mimosa. According to a statement from the ship's manager, Greece's Empire Navigation, the 2006-built, 74,035dwt tanker was discharging crude at the Quintero SBM
Exmar plots US-listed partnership Belgium's Exmar has registered for an initial public offering of a master limited partnership (MLP) spin-off called Exmar Energy Partners LP. If the IPO goes forward, the MLP will be listed on the New York Stock Exchange under the ticker symbol 'XMLP'. The initial securities registration was for an
Yangzhou Guoyu wins two box ships Chinese shipbuilder Yangzhou Guoyu Shipyard has secured an order for two LNG-fuelled container ship options Chinese-German partnership of Guoyu Nordic Shipping (GNS) and Nordic Hamburg Shipping (NHS). The two 1,400teu dual-fuel vessels are scheduled to be delivered in 2017 and chartered to Finnish
LA box chassis pact approved Two intermodal truck chassis leasing companies will be allowed to form a single asset pool to help alleviate box equipment shortages in the Los Angeles port area. The US Department of Justice announced on 23 September that it would not challenge a "chassis use agreement" between Flexi-Van Leasing
UPDATE: Nunavik attempts Arctic Northwest Passage voyage Canadian icebreaker Nunavik has made a steady 12.5 knots in comparatively ice free waters. However, the latest Canadian Ice charts for the region suggest the vessel will meet its first continuous pack ice just south of Melville Island. Here we will see if Nunavik shows signs of slowing down or
APM to invest in box ships and cut costs AP Møller-Mærsk (APM) has pledged to invest in new container ships and drive down costs at its Maersk Tankers unit. In a review of group activity to 2019, Soren Skou, CEO of Maersk Line unit, noted that the business generated a 9% EBIT margin, one of only three of the other 15 largest carriers to
Boxship broker warns against SECA trade disruptions Container ship traffic to and from ports in northern Europe could be facing serious operational problems during the transition to reduced sulphur limits in marine fuel valid from 1 January 2015, a leading Hamburg shipbroker has warned its principals. Many owners may struggle to retrofit feeder
Shipping tipped for winter growth Europe's winter months will bear fruit for the shipping industry, Erik Helberg, CEO of RS Platou Markets, has told the 7th Annual Global Shipping, Marine Services & Offshore Forum in London. "We have seen a nice recovery in the freight rates," he told the audience of decision-makers from the
Selloff pummels shipping stocks US-listed shipping stocks, particularly dry bulk shares, suffered a significant drop on 25 September amidst a broader equity selloff. George Economou-led DryShips fell 7.4% on extremely heavy volume. A total of 18.18M shares of DryShips traded hands on 25 September, 3.8 times their average trading
Panama Canal rejects ITF safety criticism The Panama Canal Authority (ACP) has strongly rejected allegations by the International Transport Workers' Federation (ITF) that safety and training standards for workers on the canal are inadequate. Stephen Cotton, the ITF's secretary-general, told the International Chamber of Shipping annual
Changhang Phoenix completes restructuring Changhang Phoenix, a listed bulk carrier operating unit of Sinotrans&CSC, has completed its restructuring after repaying debts to 129 creditors. It used CNY229.8M ($37.4M) in cash and 212.9M shares in the company after raising CNY232M by selling shares early September, a stock exchange filing
Sewol trial: crew too slow to evacuate All 476 passengers and crew on the Sewol ferry could have been evacuated in not more than seven minutes had the crew members acted quickly, the trial of the captain and 14 crew members has heard. This scenario was one of three possible outcomes revealed in a simulation carried out by expert witness
Cargo ship and fishing vessel collide near disputed islands The Panama-flagged cargo ship Yusho Haruna collided with the fishing vessel Min Xia Yu 01971 yesterday in waters north off the Diaoyu Islands, East China Sea, reported local media. No crew injuries on the 3,800dwt cargo carrier were reported. There were 10 crew members on the fishing vessel, three
Brightoil Petroleum back to profits Hong Kong-listed Brightoil Petroleum returned to profits of HKD599.3M ($78.0M) for the year ended 30 June 2014 due to the improvement in its oil trading and tanker operating businesses. In the year ended 30 June 2013, the company's losses totalled HKD721.7M, a stock filing of the company said. Its
Ezra Holdings allows EOC to defer asset payment Singapore-based oilfield service provider Ezra Holdings, which is consolidating its offshore support services under EMAS Offshore (EOC), has said it would allow EOC to stagger payments for its assets. The consolidation would see Ezra Holdings transferring its offshore support assets to EOC for
Singapore's Pavilion Energy to buy LNG from BP Pavilion Energy, part of Singapore's government-owned investment company, Temasek Holdings, has signed on to buy 400,000 tonnes per annum of LNG from BP for 20 years. The shipments to Pavilion Energy's subsidiary Pavilion Gas will begin from 2019 and the cargoes will come from BP's projects in the
Hyundai HI expects third quarter losses Hyundai HI (HHI), the world's biggest shipbuilder, is expected to post losses again for 3Q14, South Korean analysts said this week. Daishin Securities analyst Feynman Jeon estimates a KRW130Bn ($125M) loss for the shipbuilder, which already posted its worst quarterly loss of KRW489Bn for 2Q14. A
Canal authority: Panama Canal will need another expansion within 25 years Even though the $5.3 billion Panama Canal expansion has yet to be completed, Panama Canal Authority Administrator Jorge Quijano already envisions another expansion within 25 years to handle even larger container ships. Quijano declined to say when exactly a new upgrade would be needed or how much larger the expansion would...
Robert Curry Sr. Receives Connie Award in Long Beach Robert Curry Sr., president and CEO of California Cartage Co., was presented this week with the West Coast Connie award sponsored by the Containerization and Intermodal Institute. The award recognizes individual achievement in international trade and intermodal transportation. Curry in 1954 joined the Southern California drayage company that was founded by...
After Carlyle stock sale, where is YRC Worldwide headed on Wall Street? The Carlyle Group knows how - and when - to make a buck. When YRC Worldwide's stock price jumped 18 percent following the approval a new credit agreement, the global investment firm sold its stake in the $4.9 billion trucking holding company for $89.4 million. The Sept. 18 transaction involved more...
Dutch court rejects ECT's $1 billion claim against Rotterdam A Dutch court has rejected a claim by ECT, Rotterdam's largest container terminal operator, that the port authority acted unlawfully in awarding concessions for two giant terminals about to start operations to its rivals. The company, which is owned by Hong Kong-based Hutchison Port Holdings, initiated legal action three years ago, claiming...
TSA announces 10th GRI attempt as Asia-US spot rates tumble Members of the Transpacific Stabilization Agreement have attempted nine rate increases in 2014 with varying degrees of success, followed by erosion.The 12 members of the Transpacific Stabilization Agreement are pushing for the 10th general rate increase in 10 months as Asia-U.S. spot rates continue to fall. Members of the TSA filed...
The Real Cost of Carrier Cost-Cutting It's working. Ocean carriers' relentless drive to reduce costs, sparked a nearly a decade ago by Maersk Line and its acquisition of massive, 15,500-TEU container ships, is starting to show results. Maersk is demonstrating a consistent ability to make good money in the face of overcapacity and weak rates. But, oh,...
U.S. truckload spot market prices remain 'robust' in September Average U.S truckload spot market rates slipped slightly in the week that ended Sept. 20 as the number of shipments on the market dropped 3.5 percent, DAT Solutions said. However, both rates and freight activity are "robust" when compared with a year ago, which signals increased demand from shippers and...
Emirates Shipping to add Nhava Sheva to Africa Service Emirates Shipping Line has expanded its Gulf-Indian subcontinent-Africa (GIA) service by adding a direct call at the Port of Jawaharlal Nehru (Nhava Sheva), India's largest container gateway. The weekly service, using seven vessels, will now offer the following port rotation: Nhava Sheva, India; Jebel Ali, United Arab Emirates; Khor Fakkan, Oman;...
Mexican shippers increasing turn to intermodal to protect cargo from theft MEXICO CITY - Intermodal rail in Mexico is taking off. Import volume at major Mexican ports. Full-size chart The shift of loads from road to rail is driven by several factors including the need to reduce theft as well as growth from the country's container ports fueled by growing demand from the booming...
Truckers enlist help of Los Angeles-Long Beach ports Drayage companies in Los Angeles-Long Beach are enlisting the help of the ports to restructure how containers are moved to and from marine terminals. The goal of this effort is to address all of the issues that contribute to port congestion and declining productivity at marine terminals. The comprehensive approach could...
Tacoma's August volumes soar at Seattle's expense Throughout volume at the Port of Tacoma rose by 12.8 percent compared to August 2013.Boosted by larger vessels and a larger customer base, container volumes at the Port of Tacoma took off in August. New figures released by the port yesterday show container throughput totaled 118,597 TEUs, 12.8 percent higher than...
New cranes will bring more disruption to India's Nehru terminal Shippers and ocean carriers already grappling with severe intermodal rail delays at India's Jawaharlal Nehru Port should expect more operational troubles as the port trust plans to partially shut down its own container berths for two months, beginning in mid-October, to install new quay cranes. "During the installation/commissioning of three new...
South American ports taxed by rapid growth in ship sizes When Hamburg Sud's new Cap San-class container ships call at Argentina's Port of Buenos Aires, they present an incongruous sight: a vessel with capacity to carry 9,700 20-foot-equivalent units being worked with spindly mobile cranes instead of modern gantries. It's a stark example of how South American ports are struggling to...
Finnish short-sea line orders two more LNG-fueled ships Finnish short-sea operator Containerships has ordered two more ships that will run on LNG or conventional marine fuels in the Baltic and North seas. The ships are in addition to the carrier's two previously ordered dual-fuel vessels. Containerships is one of several carriers investing in LNG-powered vessels that comply with environmental...
CBP releases national gypsy moth figures as carriers continue to battle pest Photo provided by the U.S. Customs and Border Protection agency.Thirty-nine ships have arrived at U.S. ports with the American Gypsy Moth on board, U.S. Customs and Border Protection told JOC.com, as shippers fear the voracious tree eater will continue to delay cargo. A Customs and Border Protection spokeswoman based in Washington,...
Ebola fears stoke reports of potential liner boycotts Concerns about Ebola transfer in western Africa continue to have the region's shipping industry on edge with reports of possible boycotts ahead. Despite that Ebola has been transferred to foreign populaces via international shipping, countries on Africa's west coast have already started to feel the pain of border restrictions and the...
'Critical' congestion at Hong Kong needs urgent government attention HONG KONG - Congestion at Hong Kong's container terminals has reached a "critical stage" and the city's container terminals and shipping lines have called on the government to urgently make land available for port logistics and additional barge berths. The Hong Kong Container Terminal Operators Association (HKCTOA) and the Hong Kong...
BDP merger with Mumbai partner to boost India business BDP International (India) and its long-time local partner Unique Global Logistics have approved a merger agreement between the two parties, allowing the Philadelphia-based logistics group to consolidate its operations in the country. "It is a merger of UGL into BDP, with the latter holding a majority stake," the companies said in...
US predicts grain drop The US Department of Agriculture (USDA) is predicting that grain exports will drop in the 2014-2015 marketing year despite a bumper crop.
Waving the flag A key player in the US Jones Act market is taking a cautious view on potential changes that could send crude and shipyard contracts abroad.
Private lessons Private equity's impact on shipping may be seen as much through its exit as from its entry, a veteran shipping executive suggests.
Empire investigating Empire Navigation says it is carrying out its own investigation of a minor oil spill of Chile.
Judge won't toss OSG suit A New York judge has declined to dismiss Overseas Shipholding Group (OSG)'s malpractice lawsuit against law firm Proskauer Rose, new legal documents show.
Vale could spur cape rally Hope of a fourth quarter capesize rally has not been completely extinguished despite disappointing data-points from China, Canaccord Genuity says.
Pittas joins buyback boys Aristides Pittas-backed Euroseas has launched a share buyback programme in a bid to boost its stock price.
Standing on the shoulders of giants Arctic Securities has initiated coverage of Star Bulk with a buy rating amid the belief it will outperform its fellow Wall Street bulker giants.
Hanjin banks $9m Korea's Hanjin Shipping has sold KRW 9.6bn ($9.2m) of convertible bonds as its fundraising continues.
Spanish ports face court Spanish ports have been found incapable of implementing the European Commission's (EC) security plan and are being taken to the European Court of Justice.
A family affair Dan and Laurence Odfjell reveal how a vineyard venture brought them together in the tanker business.
African advance Taiwan's Evergreen Line is boosting its presence in Asia to South Africa trades.
HHI president's plea Hyundai Heavy Industries, the world's largest shipbuilder, has been thrown into crisis by the prospect of the first all out strike at the yard in nearly 20 years.
'He's a believer' John Fredriksen's increased investment in Flex LNG has provided a lift for the owner's stock and shown one of the world's most recognisable shipping magnates has not lost his appetite for the sector.
Boxship freed in Greece Local authorities in the Greek island of Mykonos have completed the refloating of a Turkish-flagged boxship which ran aground earlier this year.
Stena passes on costs Stena Line is raising freight rates after revealing new emissions regulations will cost it more than SEK 1m ($139,000) per day in extra fuel costs.
Owners fund security Shipowners have joined oil majors BP and Shell in contributing to a United Nations (UN) programme to aid Somalia in a bid to increase seafarer safety.
Time for answers UK crew union Nautilus International has asked the Panamanian Maritime Authority (PMA) to shed light on the Danny FII tragedy, which claimed the lives of 44 seafarers back in 2009.
Maersk banks on Danske AP Moller-Maersk has ring-fenced its stake in Danske Bank and insisted its shares will not be sold.
Sasebo forecasts deficit Sasebo Heavy Industries has raised its deficit forecast for the financial year ending in March 2015.
Estonia starts again Estonia has failed to find a suitable operator for island ferry routes following a public tender.
NS United eyes rise Japanese bulker owner NS United has lifted its interim profit forecast as the yen fell in value against the dollar.
Maersk's products ploy A focus on product tankers will be at the heart of AP Moller-Maersk's plans to generate $500m in annual profit from its non-container shipping operations.
Shenzhen goes green China's Shenzhen city government has revealed plans to spend as much as CNY 200m ($32.6m) to encourage shipowners to use low-sulphur fuel while at berth.
Two more for GNS/Nordic Chinese-German partnership Guoyu Nordic Shipping (GNS Shipping) and Nordic Hamburg have declared options for two more LNG-fuelled containerships in China.
CalMac ro-pax delayed A new ro-pax for Scotland's Caledonian MacBrayne (CalMac) has been delayed in Germany.
Exmar files LNG MLP IPO Exmar Energy Partners has filed a registration statement for an IPO in the US of shares in the master limited partnership (MLP).
China oil demand rises China's apparent oil demand climbed to its highest level in a year in August, according analysis of Chinese government data.
Japan orders ease back Japanese shipbuilders have seen newbuilding orders scale back compared to a year, latest industry figures show.
AURLPG set to trade Shares in Aurora LPG are set to start trading in Oslo on Friday following approval by regulatory authorities.
Petronas may ditch $10-billion BC LNG facility project 'Lack of appropriate incentives' behind firm's threat to pull out.
GAC Bunker Fuels expands team in Norway Per Steffen Bolstad's appointment brings to 25 the firm's bunker traders worldwide.
Fuel oil stocks climb as bunker prices continue to slide Reports say some bunker suppliers in Singapore are holding back product in the hope the market will firm.
US owner talks up LNG bunker fuel Loss of cargo space minimal, says TOTE boss.
IMO highlights need for effective implementation of regulations Global conventions 'only have teeth if they are backed up by an effective implementation infrastructure at the national level'.
Bunker sales down for Brightoil Company cites demand downturn as behind the fall.
ECA rules branded 'negative political decision' Stena Line warns of 'significant economic impact'.
Maersk Tankers: Fuel-saving retrofits will keep costs down CEO discounts sell off speculation.
Baltic operator expands dual-fuel fleet 'Our strategy is to stay well ahead of the curve and to be a pioneer in eco-friendly shipping.'
Intertek gets industry award Named 'supplier of the year' by Norwegian body.
Bunker savings lift cruise giant's profits Company expects to have scrubber systems installed on 70% of fleet by 2016.
New head of trading at Dan-Bunkering's Dubai office Michael Matern Hedager rejoins Danish bunkering firm.
Upgraded bunker tanker returns to service Belonna rejoins Lukoil's fleet in the Black Sea.
Shenzhen sulphur reduction initiative 'a milestone' Scheme to subsidise port and ship operators could cost up to $32.6 million a year.
LNG bunkering project launched in Baltic Key regions identified for possible LNG bunkering facilities.
UK showcase for emulsion bunker fuel Product will be available in 10 countries by early 2015.
Crude gains as US inventories drop Supplies decreased 4.27 million barrels to 358 million last week.
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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