Excel to exit Chapter 11 with $600m lighter debt burden US judge wishes Greek bulker company good luck as court agrees restructuring strategy supported by equity holders, creditors and the company
Royal Caribbean posts fourth-quarter profit despite negative media Net income up 22% due to strong demand from Asia and Europe
London Gateway to handle three more lines Hamburg Süd, Hapag-Lloyd and CMA CGM will move cargo through the UK's newest port
Maersk Tankers France faces 48-hour strike Dispute centres on threatened closure of Paris-based subsidiary
Scorpio Tankers sells two product tankers New York-listed tanker owner continues its major fleet overhaul
Scrapping sentiment cools despite handful of subcontinent sales Exchange rates and lower steel prices end a bullish start to 2014
A lull in the regulatory storm Shipping should use the coming year to prepare itself for a fresh legislative onslaught
CSCL expects $435m loss for 2013 Line blames insufficient volume due to severe supply-demand imbalance
Waiting for 'maximum throughput' Despite a flat capesize market ahead of Asian holidays, brokers expect a stronger year ahead
Costa Crociere to award Costa Concordia demolition contract The winning pitch from 12 bids from six countries will be revealed in March
CSSC Shipping orders up to 10 newbuilds for Oceanbulk Maritime Cexim finances deal for five 208,000 dwt vessels with options for five more
Idle box fleet tops 3% for second time in a month Lloyd's List Intelligence figures show nearly 514,000 teu of capacity inactive last week
Angola hijackers stab Kerala engineer Pirates stole 13,000 tonnes of gas oil and property from product tanker, says Dynacom
Almi Tankers puts its faith in rates recovery Suezmaxes from 2009's biggest tanker play have a bright future, says owner
Scramble for Africa continues as ICTSI sells Lekki stake to CMA CGM arm ICTSI says tie-up accelerates greenfield port serving Lagos and regional transhipment
Politics slows the progress of the Polar Code IMO talks are unlikely to deliver agreement as quickly as Sekimizu would like
Höegh LNG secures $400m credit facility for newbuildings Company has ordered four FSRUs and will add one or two units a year
Dynacom confirms that Kerala was hijacked Greek owner refutes Angola claims of 'fake' incident and says all 27 crew are safe
ASL Marine to buy shipyard in Indonesia for $20m Yard owned by Miclyn Express is adjacent to ASL's Batam facility
Next generation of boxships will be better equipped for the unexpected Class societies aim for wider safety margins as IACS brings uniformity to structural analysis
Nigerian piracy to move 'closer to home' Occasional surges expected around the Niger Delta, says Risk Intelligence
Heidmar appoints new CEO Connecticut-based tanker pool operator Heidmar has appointed Hans van der Zijde as its new CEO
Royal Caribbean returns to profit Royal Caribbean CEO Richard Fain today said the company is poised for a "highly promising" 2014, after returning to profit for both the fourth quarter and full year of 2013 on the back of robust demand
Euroseas raises $29M in preferred equity NASDAQ-listed Euroseas has unveiled the latest public-company deal involving perpetual preferred shares, raising $29M in net proceeds
Kawasaki wins Island Offshore vessel Kawasaki Heavy Industries has won an order for a subsea construction vessel from Norwegian shipowner Island Offshore
Yangzijiang wins Oldendorff Newcastlemax option Singapore-listed Yangzijiang Shipbuilding has won an order for one Newcastlemax bulker option, exercised by Germany's Oldendorff Carriers
Taizhou Catic secures two more Newcastlemaxes Chinese shipyard Taizhou Catic Shipbuilding Heavy Industry has secured two Newcastlemax option conversions from German shipowner Oldendorff
Oldendorff orders Newcastlemaxes from Jiangsu Hantong HI China's Jiangsu Hantong Ship Heavy Industry has won an order for two 208,000dwt bulk carriers from German owner Oldendorff, with options for another two
Profits for Indian port developer APSEZ rise 25% India's largest port developer, Adani Ports and Special Economic Zone (APSEZ), reported 25% year-on-year growth in quarterly profit (October-December) to Rs4.51Bn ($72M)
Hoegh LNG agrees $400M credit facility Oslo-headquartered Hoegh LNG has signed an agreement with a syndicate of seven banks for a $400M senior credit facility, the company said
Wisdom Marine orders three eco-ships Taiwanese carrier Wisdom Marine has announced it is ordering another three eco-ships
Westports looks to up capacity Malaysian terminal operator Westports Holdings, part of Hutchison Whampoa group, looks to raise its handling capacity to 11Mteu by year-end
Navigating the Intermodal Landscape Despite the economic uncertainty the U.S. has experienced since 2008, domestic intermodal traffic in North America is growing robustly. Overall year-over-year volume growth through August 2013 was a healthy 6.8 percent. Domestic containers continue to see conversion from trailers in rail service - growing 9.7 percent, while trailer volumes shrank...
YRC Worldwide Wins a 'Reset' When YRC Worldwide's Teamsters employees approved a five-year contract Jan. 26, they gave the struggling company more than just concessions needed to refinance $1.36 billion in debt and avoid bankruptcy. They gave the $4.9 billion trucking operator the chance to break free of a cycle of short-term crises and "reset"...
Georgia Ports' Container Volume 'Strong' in December Port of SavannahThe Georgia Ports Authority moved 235,311 TEUs in December, up 7.4 percent year-over-year, but down 3.3 percent month-to-month. Port of Savannah's TEU throughput, Dec. 2012 to Dec. 2013. Full-size image In the first six months of fiscal year 2014, beginning July 1, 2013, the GPA handled 1.5 million TEUs, increasing 5.8 percent...
Ocean Carrier Rate Revision Roundup for Jan. 27 Major container lines hope to increase rates in multiple trade lanes in February, March and April, although any hikes achieved may be temporary. Beneficial cargo owners and carriers are beginning to negotiate multi-year contracts that use spot rate indexes to adjust rates periodically, but shippers, carriers and NVOs have been slow...
Italy to Partially Privatize State Postal Company The Italian government approved plans to sell up to 40 percent of the state-owned postal company, Poste Italiane, as part of a broader privatization program. The sale, which will be pitched at institutional and retail investors and the group's 145,000 strong workforce, is expected to raise between €4 billion to '4.8...
Officials Celebrate Inland Port Opening with Norfolk Southern Inspection Train Charleston, S.C. - Over 150 port users, partners, business leaders and elected officials gathered at the SC Inland Port (SCIP) in Greer today to welcome a ceremonial train trip by Norfolk Southern, SC Ports Authority partner for the SCIP. "This is a great opportunity for SC Ports to celebrate the fully open...
Port Tampa Bay and MARAD to partner on initiatives and planning TAMPA, Fla.-Port Tampa Bay is pleased to report that port leaders will be collaborating with the U.S. Maritime Administration (MARAD) on certain strategies to enhance port planning, in line with MARAD's developing 'Strong Ports' initiative. In addition, Port Tampa Bay, under the direction of port President and CEO Paul Anderson,...
London Gateway Signs Up Hapag-Lloyd, Hamburg Süd Services London Gateway has secured several Hapag-Lloyd and Hamburg Süd services, tripling its customer base since it opened in early November. The container terminal, situated on the Thames River close to London, won the business from the neighboring port of Tilbury, which cannot handle the larger vessels the German carriers plan to...
Westcore and OnTrac Reach $1.4 million multi-year lease agreement in San Joaquin Valley Visalia, Calif. - Jan. 24, 2014 - Westcore Properties reached an agreement with OnTrac, a package delivery service operating in the eight western states, on a $1.4million lease, enhancing OnTrac's business operations and helping create a positive economic impact in Central California for the next half decade. The 65-month lease agreement is for the...
YRC Teamsters Approve New Contract YRC Worldwide's Teamsters employees approved a five-year contract by a wide margin this weekend, giving the struggling trucking operator concessions needed to refinance $1.36 billion in debt. The company's next step is to go back to its lenders and nail down a refinancing package to avoid looming debt deadlines, including $69.4...
Costamare on the up Costamare is well positioned for further expansion after posting a fourth-quarter profit, management told investors Monday.
Locked and loaded Euroseas' fleet expansion campaign will likely gain momentum in the wake of its latest fundraiser, a leading equity analyst told investors Monday.
DSX scores extension Greek bulker owner Diana Shipping has secured a time charter extension worth nearly $6m.
Excel eyes Chapter 11 exit Excel Maritime Carriers (Excel) is getting ready to close one of the darkest chapter's in the company's history.
Reach charters duo Olso-listed Reach Subsea has taken two modern platform supply vessels (PSVs) on term charters.
CMV buys partner Cruise & Maritime Voyages (CMV) of the UK is taking over the tour operations of its German partner TransOcean Kreuzfahrten.
RCL on the up US giant Royal Caribbean Cruises Ltd (RCL) has posted a stronger annual profit as it hived off its Pullmantur operation's non-core businesses.
Scorpio sells two Scorpio Tankers has sold off two of its older vessels as its huge newbuilding orderbook continues to make it from the drawing board to the water.
PE in at Euroseas Euroseas is raising close to $30m after teaming up with Tennenbaum Capital Partners in a preferred equity issue.
Boxship refloated A German containership has escaped damage after a brief grounding off Canada.
Three-week window Investors have a three-week window to boost exposure to the dry bulk market, Global Hunter Securities says.
Tankerska delisting Croatian owner Tankerska Plovidba is planning to pull its shares from the Zagreb Stock Exchange.
Costs hit Marco Polo Singapore's Marco Polo Marine has seen its first-quarter profit curtailed by higher finance costs.
CSCL slipping deeper CSCL has braced investors for a $500m negative swing in its full-year results as it fired a profit warning today.
Samsung profit cut back Samsung Heavy Industries has posted a 20.6% drop in annual earnings as one-off costs hurt the bottom line.
Pirates seize crewmen West African pirates have struck again, boarding an Agip tug and taking one seafarer hostage in the Niger Delta.
Vanguard in dry departure Vanguard Shipping of Taiwan has sold its only bulker for demolition, brokers say.
Hyproc ordering LPG duo Algeria's Hyproc Shipping is ordering two LPG carriers at German and Japanese yards.
Total recall Concordia Maritime has secured a fresh period deal for one of its products tankers which is rejoining Total.
Hoegh hauls in $400m Hoegh LNG has secured a $400m loan which completes funding for its FSRU newbuilding programme.
Beware oilsands shipping US scientists have warned of the environmental dangers of shipping out oilsands bitumen from Alberta in Canada.
Lines ready to return Iran claims five major shipowners will resume containership calls after sanctions were eased.
One dead in gas leak South African authorities reported one seafarer has died in a gas leak on a Chinese cargoship.
CSSC books big bulkers China State Shipbuilding Corp (CSSC) Leasing has ordered up to ten newcastlemaxes from Shanghai Waigaoqiao Shipbuilding (SWS).
ASL acquires shipyard ASL Marine is spending $20m to acquire a neighbouring shipyard located on Batam Island, Indonesia.
TTA linked to bulker Expanding Thoresen Shipping is said to have acquired its second supramax bulker in less than three months.
Kerala re-located Dynacom says it has re-established contact with one of its tankers that was hijacked off Angola last week.
Thanks, but no thanks Keppel Corp says it has turned down an offer to bid for a series of drillship newbuildings from industry giant Transocean.
Tampa port changes name to present new image The Port of Tampa is now called Port Tampa Bay, part of a re-branding effort designed to emphasize the port's regional reach beyond the city and attract more business from shippers and carriers.
Employees approve new YRC contract extension YRC union employees have ratified an extension to the company's current collective bargaining agreement, weeks after rejecting an initial proposal from the company.
Port of New York/New Jersey adds longshoremen The Port Authority of New York and New Jersey said 150 longshoremen "are in the process of being hired" despite ongoing litigation. Seventy five checkers will also be hired.
FTR sees November dip in trucking index "FTR now assumes that FMCSA will delay most of the next round of planned regulatory changes affecting trucking," and this has resulted in a lower Trucking Conditions Index forecast for the next two years, the firm stated.
London Gateway gains new services
Georgia ports experience 8% tonnage growth
European tank terminal uses Descartes for customs compliance
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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