Sewol casualty probe turns spotlight on KR and KSA Possibility of corruption to be investigated
Fredriksen's big bet on dry bulk comes as fresh opportunities open up There are risks, but 2013 was first year since 2007 in which sector's fleet expanded by less than demand
BG Group's shipping man resigns Singapore-based Steve Hill takes over from Matt Schatzman
Asia-Europe rates take surprise upturn Derivatives brokers report a mini surge in volumes resulting in high vessel utilisation levels
Cornick to retire as chief executive of The Maersk Company John Kilby to take over position in June
DP World confirms annual review of banking facilities Box terminal operator responds to reports it is looking to triple its $1bn facility
Antwerp reports containers recovery Volumes rise by just under 1% year on year while container weights rise 2.1%
Week on Wall Street | April 25 Free to read: Shipping's Letter from America
Dynagas LNG Partners to purchase one-year-old gas carrier Nasdaq-listed firm readies $138m public offering to help fund Arctic Aurora dropdown
Precious Shipping reports $4.1m first-quarter profits Return to black is accompanied by 32% rise in average daily earnings per ship
How US oil exports could boost tankers Tonne-miles and earnings will rise if US ships crude to international customers
OOCL first-quarter results show weak rate environment Hong Kong-based carrier encounters lower average revenue per teu in all major trades
Nanjing Tanker defaults on $186m arrears Ill-fated Chinese state carrier faces public outcry after delisting confirmed
Bahri first-quarter profits rise 41% Saudi Arabian tanker giant closed merger with Vela in quarter in a deal worth $1.3bn
Cosco reports 16 aged vessels scrapped in January-December Chinese state carrier presses on with fleet renewal
MOL raises $500m to fund LNG shipping and offshore expansion Japanese shipping giant issues zero-coupon convertible bonds with maturity periods of 4-6 years
Hong Kong ferry deaths report withheld Lamma Island casualty inquiry finds 'suspected criminality' at Marine Department
Genco receives green light for restructuring plan Legal challenge is averted, but obstacles still remain
'Insider job' suspected in pirate attack An 'insider job' is suspected to be behind the sea robbery on Naniwa Maru No 1 on Tuesday night
Samsung HI deteriorates into 1Q loss Samsung Heavy Industries posted a loss of KRW272.4Bn ($261.8M) in the first quarter of 2014, reversing a KRW300.5Bn profit for the same period last year
Bharati Shipyard receives lifeline Lenders to India's second-largest private shipbuilder Bharati Shipyard Ltd (BSL), which is undergoing corporate debt restructuring, have appointed international management consultant Alvarez & Marsal to turn around the ailing company
Uncertainty plagues shipping freight rates The shipping industry has improved since start of the year, but William Bathurst, lead credit analyst from Peninsula Petroleum, remains cautious over the future
ReCAAP observes change of pirates' modus operandi in 1Q14 The Regional Cooperation Agreement on Combat Piracy and Armed Robbery against Ships in Asia (ReCAAP) has released a quarterly report, showing significant improvement of piracy incidents occurred in Asia
Evergreen enhances Red Sea service Taiwanese carrier Evergreen Marine Corp announced yesterday that it will adjust the port rotation of its Asia Pacific-Red Sea service and launch a new feeder loop with a new slot exchange arrangement with a strategic partner
Yangzijiang buys into investment fund Singapore-listed Chinese shipbuilder Yangzijiang's subsidiary Jiangsu New Yangzi Shipbuilding will invest up to CNY150M ($24.3M) in Chinese investment fund Jiangsu New Material Industrial Venture Capital Enterprise
PACC Offshore IPO raises $310M The initial public offering of PACC Offshore Holdings (POSH), which was listed in Singapore today, has raised SGD388.3M ($310M)
Faulty equipment found on another Chonghaejin ferry Another ferry owned by Sewol operator Chonghaejin Marine was found to have malfunctioning life rafts and escape chutes, South Korean investigators said today
Australian police swoop on waterfront crime Police charged a 40-year old Sydney man with drug supply yesterday as part of an ongoing investigation into organised crime on the Sydney waterfront
Big Truck Driver Pay Hike Needed, Knight Says Truck driver pay must rise between 15 and 25 percent if the trucking industry is going to keep up with freight demand in coming years, a truckload executive said yesterday. Difficulty hiring and keeping drivers is the main roadblock to trucking growth, Kevin Knight, chairman and CEO of Knight Transportation, said...
UPS Reports Robust E-Commerce, Growth in Deferred Shipping Severe winter weather may have kept many consumers from shopping at stores in the first quarter, but it didn't freeze their computer keyboards. Business-to-consumer e-commerce was "robust" in the quarter, UPS said, despite a series of storms that cost the economy billions of dollars and UPS almost $200 million in...
Cargo, Capacity and Consolidation: Questions and Answers Relating to the Top 40 Carrier Rankings Full-year 2013 numbers are in for the U.S. containerized ocean trade, and, as expected, year-over-year growth in imports, exports and total trade was middling. But what 2013 did more than anything else was set the stage for the real sea change that will come this year. Here's what we learned...
SCFI: Asia-Europe Rate Gains as Capacity Tightens Spot container freight rates as measured by the Shanghai Containerized Freight Index increased on the Asia-Europe lane this week, although Asia-U.S. rates plateaued after two weeks of gains. The SCFI for North Europe inched up 0.6 percent in the week ending April 25. Full-size image The index rate from Shanghai to northern European...
P3 China Waiting Game Continues Amid Opposition The world's top three container lines appear to have little visibility into whether Chinese regulators will join their U.S. and European counterparts in allowing the carriers' P3 alliance to take effect. Sources within the carriers of the P3 Network, which comprises Maersk Line, Mediterranean Shipping Co. and CMA CGM, said this...
Ocean Carrier Rate Revision Roundup for April 25 Multiple carriers have scheduled general rate increases in various trade lanes in May, June and July, although any gains achieved could be fleeting as overcapacity and sluggish global demand continues. Although only four carriers in the world today have ships of 18,000 TEUs or larger either in operation or on order,...
TPM 2014 Sponsored Video: Laufer Group International Mark Laufer, president/CEO, Laufer Group International, on moving beyond just competing on price, and using a culture of self-improvement, leadership and collaboration to solve complex logistical problems....
Sluggish Growth at Antwerp Container traffic through the port of Antwerp grew just 0.9 percent in the first quarter from a year ago, but that was three times the increase posted by its larger neighbor Rotterdam. The Belgian port handled just over 2.146 million 20-foot-equivalent units in the first three months of 2014, consolidating its...
Liverpool Orders Larger Cranes in Bid to Draw Round-the-World Services The port of Liverpool.Peel Ports, owner of the port of Liverpool, signed a £100 million ($168 million) contract with China's Zhenhua Heavy Industries to supply cranes for a new deep-water quay that will triple the size of container ships the northwestern UK port can handle. Liverpool aims to tap a new...
Warning to Ships: Don't Hit Bayonne Bridge Vessel operators are being warned by the Coast Guard to make sure their vessels can fit under the 151-foot vertical clearance of the Port of New York and New Jersey's Bayonne Bridge, which two ships have struck during the last four months. Coast Guard's New York sector issued a bulletin advising...
Chain Reaction Liability Q: We're a small motor carrier broker. Lately a couple of our big customers have been asking us about insurance protection against "vicarious liability." Frankly, I'm not quite sure what they're talking about. I've spoken to a couple of other brokers about this who have told me it has to...
Cargolux to Expand Fleet, Routes on Back of Record Traffic Cargolux said its shareholders approved a $175 million increase in its share capital to strengthen the Luxembourg-based all-cargo carrier's finances and help fund the expansion of its freighter fleet and route network. The carrier simultaneously announced the Luxembourg government had closed on the sale of its 35 percent stake to China's...
NileDutch, PIL to Launch Asia-Africa Service Multipurpose ocean carrier NileDutch and Singapore-based Pacific International Lines have reached a vessel-sharing agreement to jointly operate a new container service between Asia and West Africa, starting in mid-May. The weekly loop will be marketed by NileDutch as the FEWA Service and by PIL as the SW3 Service. The VSA calls for...
Japan Revises Law to Support Key Container Ports Japan has enacted a bill to allow the government to acquire equity stakes in the operators of key domestic container ports to help shore up their international competitiveness. The bill to amend the Ports and Harbors Act was approved by the House of Councilors, the upper house of the Diet, Japan's...
Manufacturing Shifts Prompt China Strikes Thousands of workers at a Samsung factory near Shanghai demand compensation after learning the factory will relocate to Vietnam. Two thousand workers at a Shenzhen toy factory demand compensation as news emerges that the factory will move inland. More than 1,000 workers at Shimano's factory in Jiangsu strike over compensation...
Precious profit halves Thai bulker owner Precious Shipping saw earnings halved in the first quarter of the year despite a rebound in charter rates.
Hose conspirator jailed A long running conspiracy to rig the price of tanker hoses has claimed the freedom of Italian executive, Romano Pisciotti.
Vessel sinks off Crete The Greek Coast Guard is searching for three crew members after their cargoship vessel sank off the coast of Crete.
MOL seals $500m issue Mitsui OSK Lines (MOL) has completed a $500m convertible bond sale to fund the next stage of its expansion.
That's what I want We take a look at what was said in the market over the past week.
GSI sees deeper red Guangzhou Shipyard International (GSI) posted a deeper first quarter loss despite seeing a 20% rise in revenue for the period.
Weak rates subdue OOCL A healthy rise in first quarter container volumes had little impact on Orient Overseas Container Lines' (OOCL) sales as rates remained weak.
Pac Basin nets $350m Pacific Basin has secured a huge syndicated loan to finance its haul of newbuildings at Japanese shipyards.
Thai tanker targeted Another small products tanker has been attacked off the coast of Malaysia and had some of its cargo stolen.
Seacor makes good start Seacor Holdings continues to improve its financial position with another profitable quarter.
POSH down on debut PACC Offshore Services Holdings (POSH) made a weak start on its first day as a public company with shares down almost 2%.
Norden examines dry slide A plunge in rates for panamaxes trading in the Atlantic Basin to levels seen only once in the past decade has its origins on the other side of the planet, Norden says.
Rock bottom? Freight rates for bulkers trading in the spot market are unlikely to fall any further in the near-term, a team of researchers told clients Thursday.
Singapore shippers voice support for massive new terminal
Steel shipper details rail issues for STB Steel shipper Nucor has called on the Surface Transportation Board to take "firm and decisive action" to keep the railroad industry competitive and reliable.
OOCL sees gains in intra-Asia, Asia-Europe volumes Container carrier OOCL moved 1,352,050 TEUs in the first quarter of 2014, 8.9 percent more than in the same 2013 period. The results are among the first reported by a major shipping company each quarter.
NAFTA truck trading rises in February
Con-way opens Texas facility
COSCO scraps 16 ships
Weekly GRI roundup
Piracy incidents worldwide down in first quarter Worldwide piracy on the seas is at its lowest first-quarter level in seven years, with 49 piracy incidents so far this year, the lowest number since 2007, when 41 were recorded.
Houston bunker prices up Good demand reported at US Gulf port.
Weekly Global Market Report A weekly price roundup from bunkering hubs around the world.
'Costly environmental regs will be a challenge' Shipping needs to find 'a great deal of money' over the next few years to comply, says Moore Stephens.
Bunker prices firm in most ports Fuel oil follows crude.
IFO prices firm in Middle East hub Prices lack direction in South Africa ports.
China's bunker sector 'holding up' Some 60% of Venezuelan fuel oil shipped to China is sold as marine fuel.
Element of deterrent seen in fuel fraud sentencing 18 months in jail will cost chief engineer more in lost earnings than value of stolen fuel.
Reefer ship finding it hard to bunker Cargo of whale meat sees it banned from Durban.
Off-spec fuel risks to be raised at IMO meeting Shipping organisation wants regulatory framework to control fuel quality.
Russian fuel oil traders look to bunker markets Russian fuel oil exports fall in response to tax regime.
Traders: Blending most likely to meet 2015 cap Blending seen as 'path of least resistance'.
Asian bunker prices end week mixed Demand was mixed in Singapore.
OW Bunker arrests vessel Supplier pursuing $2.28 million bunker bill.
Tanker hijacked off southeast Malaysia Second fuel theft case reported in two weeks.
German shipowners place fuel-saving orders Self developed design claims to save 25% on bunkers.
Vessels on collision course before oil spill 'Rules of the road' may have been violated by crew in Houston Ship Channel, suggest experts.
Shipping giant progresses with fleet renewal plan Move to scrap 16 vessels has led to improved 'oil saving level and overall environmental friendliness'.
'Photo-purification technology' for bunkers System able to purify marine diesel fuel to beyond a 'refinery fresh' state.
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