Hamburg Süd to acquire CCNI UPDATED: German carrier says deal will strengthen South American liner network
Hamburg court rules for ER Schiffahrt in dispute with MPC Further litigation likely in battle over sale of panamax fleet
Suezmax hauls controversial cargo of Kurdish crude Shipment angers Baghdad
Bad reception on China state TV for 2M plans Influential state broadcaster reports the alliance could mean price hikes for consumers and more challenges for carriers in China
Iran shipping sanctions could go by year-end The move would open the way for P&I and oil-cargo insurance
Maersk plans August general rate increase as price push gathers pace Shipping giant joins the growing list of lines planning a price hike from next week
Box congestion in Europe creates surcharges and a scramble for staff Hamburg, Rotterdam and Antwerp face container bottlenecks this month
Panamax boxship charter rates show weekly decline Recent optimism receding, says broker
Mediterranean Shipping Co leads the race to expand boxship fleets The top three lines pull away from the rest in the battle to increase capacity
OOCL reports load factors up, revenues per teu down Hong Kong shipping line's second-quarter volumes rise 11.2% to 1.5m teu
Capital Maritime Partners boosts operating profits Revenues climb due to bigger fleet as owner plots boxship and tanker additions
DVB Bank study pours cold water on suezmax hopes Report argues that despite the positives, real recovery will materialise only from 2017
Hyundai Glovis reports six-month growth in net profit of 55% Automotive and dry bulk growth boosts Seoul-listed logistics firm's earnings
ICTSI secures $350m credit facility Proceeds to be used for strategic investments and acquisitions, says Philippine operator
Week on Wall Street | July 25 Scorpio's access to Kexim funding highlights a bifurcated financing market
Samsung Heavy Industries back in the black South Korean shipbuilder posts net profits of $201m but sales fall
Suezmax earnings cool as West African chartering slows Million-barrel crude tankers continue to secure respectable daily rates
Panalpina volumes rise but profits slide Swiss forwarder blames volatile rates and currency effects
From P3 to 2M: a China story Scaled-down ambition of Maersk and MSC means Beijing's rejection would be unprecedented, but not unthinkable
Capesize market stalls despite lower iron ore prices feeding China demand Brokers await a pronounced push in any basin amid new fears over excess capacity
Guangzhou Shipyard extends trading suspension as plans unfold for restructuring Parent China State Shipbuilding will inject military assets as GSI negotiates with a third party to buy new assets
Capital Product buys five ships from its sponsor company Deal worth $312m includes three boxships to be chartered by CMA CGM and two product tankers on charter to Capital Maritime and Trading
Vale reports record iron ore production in second quarter Better weather and production ramp-ups lead to output of 79.5m tonnes
Finns try automatic visa check A system to automatically process visa-holding passengers leaving and entering Helsinki's West Harbour terminal has begun a five-month trial. This is being carried out by the Finnish Border Guard and includes the operation of upgraded equipment and software. Large numbers of Russians disembark from
GTT lands orders for Yamal LNG carriers French LNG tank specialist GTT (Gaztransport & Technigas) is to supply its NO 96 membrane containment system for the world's first 10 icebreaking LNG carriers. The company received an initial one-ship order for the system from Sovcomflot in March. This has now been followed with a decision to use
Jiangnan wins more Tianjin Southwest VLGCs Jiangnan Shipyard Group in China has won an order for two more very large gas carriers (VLGCs) from returning compatriot shipowner Tianjin Southwest Maritime (TSM). Delivery of the two 83,000m³ vessels is scheduled for the end of 2016 and early 2017. They bring the owner's total on order at the yard
Taizhou Sanfu secures chemical sisters Chinese shipbuilder Taizhou Sanfu Ship Engineering has secured an order for two chemical tankers from a Singaporean owner. The 34,500dwt vessels will have an overall length of 180m, 30m beam, and depth of 15.4m. A delivery schedule was not revealed but estimates suggest the second half of 2016 is
Longxue to build COSCOL heavy-lift CSSC Huangpu Wenchong Shipbuilding has received an order from COSCO Shipping Co (COSCOL) for a semi-submersible heavy-lift vessel to be built at Guangzhou Longxue. A delivery schedule for the 50,000dwt vessel has not been revealed but estimates have put the date at early 2017. It will be co-designed
Independent maritime investigation agency launched Globus Intelligence, an international forensic investigation consultancy, has joined up with the Human Rights At Sea organisation to provide independent maritime investigations. David Hammond, founder of Human Rights At Sea and author of the "100 Series Rules for the Use of Force" maritime security
Costa Concordia passes halfway mark Costa Concordia, having passed the halfway point on its 190nm journey, is expected to arrive in the port of Genoa on Saturday night. The Italian civil protection service said the convoy accompanying the former cruise ship reached the 100nm mark at 08.00 local time today. By late morning it was off
EMS Seven Seas leaves stock market Today is the last trading day in the shares of EMS Seven Seas, the ship chandler and maritime services company, on the Oslo stock market. Supreme, a Dutch investment company, increased its holding in EMS to 90.04% in June, which triggered a Norwegian legal requirement that it launch a mandatory
Italian police smash cocaine ring Drugs busts by Italian police have led to the arrest of a number of current and former employees of the port of Gioia Tauro. Italy's finance police say they have smashed a gang importing Latin American cocaine through the container port. So far 13 individuals are under arrest, some of whom are said
Australian miners help Capesizes A spate of fixtures in the Western Australia-China iron ore route provided some positive news for Capesizes this week. Australian iron ore miners Rio Tinto, BHP Billiton and Fortescue Metals Group have been more active than in recent weeks, brokers report. IHS Maritime data shows that the companies
Vessels collide in Korea Strait A Japanese fishing vessel capsized and sank after colliding with a feeder ship yesterday about 10km northeast of Tsushima Island, Japan, in the Korea Strait. The 706teu Bohai Star, owned and operated by South Korean company Nam Sung Shipping, collided with the fishing vessel at about 05.30 local
Dredging boost for Chinese islands All shipping channels around the Yongle Islands in south China's Hainan Province have reopened after dredging there has been completed. "It allows boats to leave or reach the islands at any time," said Jiang Weiquan, chief of the Yongle Islands administrative committee. Boats used to take chance to
Jaxport installs PORTS system Port of Jacksonville, Florida, has installed the $2.8M PORTS (Physical Oceanographic Real-Time System) decision-support program to save money, improve navigational safety and enhance research on the St Johns River. Developed by the US National Oceanic and Atmospheric Administration and inaugurated
LR tanker rates surge on frenetic naphtha buying A rush to stock up on naphtha has pushed up freight rates for long-range products tankers on the Gulf-Far East route for a second consecutive week. The Baltic Clean Tanker Index yesterday assessed the LR2 (75,000-119,999dwt) tanker rate at Worldscale 113.06 or $19,705/day, up from W97.05 or
Yinson sells off stake for $59.3M Malaysia-listed Yinson has sealed a share purchase agreement with BW Offshore's indirect subsidiary Prosafe Production Public Limited (PPPL)to dispose of its entire equity interest in Nautipa (NAS) to PPPL for a cash consideration of MYR187.98M ($59.1M). Previously, Yinson holds an indirect equity
VLCC rates surge as cargoes emerge Freight rates for the benchmark routes of very large crude carriers rose points from last week to average Worldscale 52.5 or $29,951/day yesterday. Exactly a week ago, the Baltic Dirty Tanker Index assessed the Gulf-Far East rate at W46 or $19,632/day. Freight rates for Gulf-Southeast Asia trips
CSDC to acquire another 20% stake in compatriot China Shipping Development (CSDC), a bulk-shipping arm of the China Shipping Group, plans to bid for a 20% stake in compatriot Shanghai North Sea Shipping for at least CNY830M ($133M). China Shipping Tanker, a wholly owned subsidiary of CSDC, will place a bid with a bottom rack price of CNY830M, a
Charter leads to Tallink fleet shake-up Estonian shipping company Tallink has announced the 14-month charter of the Baltic's largest ferry, the 59,914gt Silja Europa, to Bridgeman's Services of Canada, with an option for a further four years. Such charters may become commonplace as the 2015 deadline of MARPOL's Tier III Baltic sulphur
Keppel O&M ends 2Q14 in high note Singapore-headquartered Keppel Offshore and Marine (Keppel O&M) saw a surge of 17% quarter-to-quarter in its operating profit to SGD302M ($243.7M) in 2Q14. The company's profit before tax also rose 15% to SGD345M in 2Q14, following a 15% increase in EBITDA to SGD337M. Keppel O&M ended 2Q14 by
Four rescued after Typhoon Matmo grounds tanker Four oil tanker crewmen were rescued after their ship ran aground off the coast of Kaohsiung, Taiwan, on Wednesday due to Typhoon Matmo. The four men, two from China and two from Indonesia, were brought ashore by a rescue helicopter, unhurt and "in good condition", according to Taiwan's National
Indonesia's new government set to curb coal exports The election of Joko Widodo as Indonesia's new president could mean reduced coal exports from the country, said IHS McCloskey. Formerly the governor of Jakarta, Widodo has pledged to supply cheaper energy to Indonesians. Coal and gas are expected to support this. The outgoing government's 2014 plan
Crowley ships to have MES gas injection diesel engine Japanese shipbuilder Mitsui Engineering & Shipbuilding has received the first order of its electronically controlled gas injection diesel engine. The MAN B&W 8S70ME-C8.2-GI will be installed on two container-ro-ro ships to be built by VT Halter Marine for US-owned Crowley Maritime Corporation. It is
OOCL results show strength in container shipping business Evidence of volume growth in east-west container shipping markets was revealed in Orient Overseas Container Line's most recent results: The carrier's total volume increased by 10 percent in the first half over the same period last year, and revenues grew by 4.3 percent. Asia-Europe volume registered the highest growth at the...
Ferro to leave FMCSA, but driver rules roll on Anne S. FerroAfter five years leading a broad and often controversial effort to reshape federal truck safety regulation, Anne S. Ferro is leaving the Federal Motor Carrier Safety Administration. Ferro, the Department of Transportation's top truck safety official since 2009, will join the American Association of Motor Vehicle Administrators as president...
SCFI: Europe, US spot rates fall The Shanghai-northern Europe spot rate slipped 2.2 percent to $1,203. Full-size chart Price drops continued to be reflected in the Shanghai Containerized Freight Index this week, as every major lane on the index saw spot rates fall. In the Shanghai to northern Europe lane, the rate per 20-foot container slipped 2.2 percent to...
Swift Transportation promises 'enhanced' driver pay as shortage crimps growth Year-over-year percentage changes in revenue, excluding fuel surcharges, for Swift's truckload and dedicated divisions are following divergent paths. Full-size chart Swift Transportation, the largest U.S. truckload operator, got even bigger in the second quarter, but potential growth was restrained, the company said, by a "challenging driver market." "Our driver turnover and unseated truck...
Philadelphia container volume up 29 percent Container volume at the Port of Philadelphia jumped 29 percent during the first half of the year, aided by two new services and a continuing shift of breakbulk to containers for shipments of imported fruit. The Philadelphia Regional Port Authority said container volume from January to June totaled 219,060 20-foot-equivalent units,...
Hamburg Süd signs deal to acquire CCNI's container operations Hamburg Süd has signed a preliminary agreement to acquire the container operations of the Valparaiso, Chile-based Compañía Chilena de Navegación Interoceánica, or CCNI, effective Dec. 31, 2014. The deal would combine the No. 13 and No. 28 carriers in a merger that would reinforce Hamburg Süd's strength in north-south trades at a...
ABS & MPA Ink MOU to Collaborate on Maritime Research & Development (Singapore) ABS, a leading provider of global marine and offshore classification services, and the Maritime and Port Authority of Singapore (MPA) signed a memorandum of understanding (MOU) today to promote maritime research and development (R&D) and innovation. Over the next five years, ABS and MPA will collaborate on maritime R&D in the...
BRITISH INTERNATIONAL FREIGHT ASSOCIATION NAMES NEW DIRECTOR GENERAL The British International Freight Association (BIFA) has named Robert Keen as its new Director General to succeed Peter Quantrill who retires from the trade association in August.Mr Keen, joined the industry in 1970 and worked for a succession of forwarders before joining BIFA in 1999. He was appointed an Executive...
Ocean carrier rate revision roundup for July 25 Several container lines have planned general rate increases in multiple trade lanes in August, although any gains achieved could be temporary as overcapacity and sluggish global demand continue. While the collapse of the P3 Network mega-alliance last month had some believing that rate volatility would continue, the new 2M vessel-sharing agreement...
Pantos Logistics Opens a 20,000m2 Logistics Center in Rotterdam, The Netherlands Pantos Logistics, a comprehensive logistics service provider operating more than 180 logistics networks around the world, plans to strengthen its warehouse logistics business in Europe. The company has acquired a warehouse of 20,000m2 on a 34,300m2 site in the port of Rotterdam(Maasvlakte), which is Europe's largest trade port and gateway. The company plans to expand its warehouse...
Washington governor pulls state trooper escorts for grain inspectors as labor dispute drags on A year-long contract dispute between United Grain Corp. and the International Longshore and Warehouse Union effectively shut down export operations at the Vancouver, Wash., facility this month following a decision by the governor of Washington to withdraw state trooper escorts for grain inspectors. The grain contract in the Pacific Northwest is...
Air France-KLM eyes restructuring or partnership for freighter unit Air France-KLM today said it is weighing a partnership or restructuring of its freighter business after booking cargo losses and charges of $205 million in the second quarter, but stressed it will remain a major player in the air freight market. Cargo losses narrowed to €45 million ($61 million) in the...
North American rail traffic hits new peaks Intermodal traffic on North American railroads is up 6.0 percent so far this year. Full-size chart Total rail traffic on North American railroads broke the 11-million-carload mark this week, posting year-to-date gains of 3 percent compared with 2013. The Associations of American Railroads' weekly traffic report showed railroads moved 398,145 carloads in the...
CCNI to see gain Compania Chilena de Navegacion Interoceanica (CCNI) says it will add $85m to its financial result through the sale of its liner business to Germany's Hamburg Sud.
Tanker Axios extended Capital Product Partners has signed a deal to extend the charter of a chemical and products tanker to sponsor Capital Maritime & Trading.
Orion monopoly to end Panama's new government has suspended the flag-state's officer licensing assessment programme, wresting it from a private company holding a controversial monopoly.
Sinokor, not scrap John Fredriksen may be unwilling to take VLCCs through a third special survey but others are prepared to take on the tankers.
Success for ER Schiffahrt Shipmanager ER Schiffahrt has won a crucial court victory in a $50m dispute linked to the sale of 14 container ships with issuing house MPC Capital.
Hamburg Sud strikes Hamburg Sud is set to follow in the footsteps of Hapag-Lloyd and complete the takeover of a Chilean line.
CMA CGM's Douala downer CMA CGM says its lines calling in Cameroon are experiencing skyrocketing operating costs as a result of congestion at the port of Douala.
Capital comes up short Capital Product Partners has disappointed the market with a smaller than expected second quarter profit.
Dorian in China coup Dorian LPG has opened the door to the Chinese gas market after striking a deal with HNA Logistics Group.
Kazakhs plan yard Kazakhstan is planning a new shipyard to build offshore vessels.
Mercator further into red Singapore-listed bulker owner Mercator Shipping Lines has posted a bigger first quarter loss as costs jumped.
Yemen pumps again Yemen has started pumping crude oil through its main export pipeline again after clashes between soldiers and tribesmen killed seven.
NRSL on block again Russia is trying again with a tender to sell its holding in Northern River Shipping Lines (NRSL).
Precious turns red Precious Shipping slipped to a narrow loss in the second quarter during a difficult stretch for the dry cargo market.
Near miss for Maersk A Maersk boxship needed a tow after a near miss with a sandbank off New Zealand.
Ship sinks off China A general cargoship has capsized and partially sunk off China, but all crew were rescued.
Siem slips in first half Political and operational issues proved a drag on first half profit at reefer owner Siem Shipping.
Not done yet Meyer Werft has not yet sealed the takeover of STX's Turku yard in Finland, despite claims in Korea.
MMA's strike threat Mermaid Marine Australia (MMA) is facing strike action from staff as it seeks a new pay deal.
More work, more money OOCL has secured stronger revenue in the second quarter on the back of higher volumes.
Samsung strong in second Samsung Heavy Industries has posted strong second quarter figures that flew past analysts' estimates.
Shipping tantrums We take a look at what was said in the market over the past week.
Van Oord's Brazil boost Dutch dredging group Van Oord has won a EUR 100m-plus ($134.66m) contract to work on a new shipyard, as well as port upgrades.
Wenchong wins heavy-lift CSSC Huangpu Wenchong Shipbuilding has announced a new order for a heavy-lift vessel.
Double for Sanfu China's Taizhou Sanfu has won its first chemical tanker order in eight years.
Growth boosts Logindo Logindo Samudramakmur has booked a 70% growth in second quarter net profit aided by higher revenue from its expanding fleet.
Otto taps bond investors Otto Marine is looking to tap the bond market for up to SGD 70m ($56m) in fresh funds, the company has confirmed.
Aussies find Zodiac guilty Zodiac Maritime Agencies has been fined over a pollution incident involving one of its vehicle carriers in Australian waters in 2012.
Hamburg Süd to acquire CCNI liner business The deal is subject to due diligence, execution of a sale and purchase agreement and approval by the competent authorities, and is scheduled to be executed by Dec. 31, at the latest.
Air France to further reduce freighter fleet "Faced with the slower-than-expected recovery of cargo demand, we will further decrease our full-freighter exposure but will remain a key player in the cargo business," Alexandre de Juniac, chair of Air France-KLM's board of directors, said.
Localities to pay for extra U.S. Customs service
Echo Global sees solid results, raises guidance "Echo's growth model delivered outstanding results, as we completed another record quarter of revenue and profitability, driven by strong organic growth and the impact of our recently completed acquisitions," Echo's CEO said.
FMCSA, OSHA work to combat retaliation against drivers
OOCL saw higher revenues, container volumes in Q2 The Hong Kong-based liner company said it moved 1,453,193 TEU in the period ending June 30, 11.2-percent more than in the same 2013 period, while revenues were $1.5 billion, up 6.8 percent.
French company buys supply chain optimization company Quintiq Quintiq Co-Founder and Chief Executive Officer Victor Allis described his company as a "puzzle-solving" solutions provider, in a conversation with American Shipper in May.
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