BW LPG boosts earnings on robust markets Group retains strong focus on Atlantic gas trades
Lloyd's List Middle East/Indian subcontinent awards - the shortlist Regional shipping has been getting on with business
BW LPG boosts earnings on robust markets Group retains strong focus on Atlantic gas trades
Net profit of CSICL down 20% in January-June Flagship unit of China Shipbuilding Industry Corp says results better than expected
SIPG records double-digit growth in first-half profit Shanghai port's main operator sees accelerating growth in box volume
From Asia-Pacific to Preston - Hext pursues his passion for education Hong Kong shipping boss heads to the Lancashire Dales to take up a university post
Aronnax: busting ballast The initial results of Lloyd's List's survey show real fear of technology
CMES post strong first-half results on higher rates and scrapping efforts Shanghai-listed carrier cuts operating expenses by 32% after reducing old tonnage
Rotterdam cargo flows returning to normal Vessel waiting times improve significantly after weeks of congestion
Divex wins Keppel Singmarine contract Diving system bound for BP Caspian project
Kogas reveals details of LNG newbuilding requirements South Korean shipping lines that choose compatriot yards thought likely to win out
Commerzbank sells nine boxships to KKR and Borealis Portfolio includes Offen, Thomas Schulte and NSB vessels, say market sources
StealthGas takes up options for two LPG carriers Expanding Greek owner confirms two Hyundai Mipo-built 22,000 cu m vessels
Onassis firm buys two d'Amato aframaxes Greek owner continues to invest in modern secondhand tankers
James Fisher reports a 10% hike in pre-tax profits Business gains and Foreland sell-off boost UK marine engineering services group
Poor markets dent Golden Ocean profits but do not dim its optimism Fredriksen-controlled firm says it has the resources to wait for freight rates to climb
ILWU and PMA reach a tentative healthcare deal But US west coast workers and managers have some way to go to agree a new contract
Salalah container productivity up 26% The Omani Port of Salalah is now ranked 15th best globally, and third in Europe, Middle East and Africa, having achieved an average 91 gross moves per hour (gmph) in 2013, 26% better than its 2012 average of 71gmph. The rankings were announced by independent research firm Journal of Commerce (JOC)
DP World takes over Trilogiport at Liège DP World has acquired all shares owned by Euroports in Trilogiport, the planned container terminal at Liège, Belgium, and now takes full responsibility for its development. Trilogiport is a focal point in the Walloon government's Marshall Plan that aims to develop Liège as a logistics hub. It will
SCI cancels last AHTS order Indian shipowner SCI has cancelled its final AHTS newbuilding at compatriot shipyard ABG following excessive delivery delays. "The new shipbuilding order with ABG was cancelled last week due to abnormal delay in delivering the vessel as per contractual timeline," a spokesman for SCI said. With this,
US dockers untying healthcare gridlock US west coast dockworkers and their employers have reached a tentative agreement on healthcare benefits in what has been considered one of the most significant hurdles to forging a new labour contact. The International Longshore and Warehouse Union (ILWU), which represents nearly 20,000 dockworkers
Voith wins record contract from Transnet Transnet National Ports Authority has ordered nine new Voith water tractors (VWTs or tugs) in both South Africa's largest local shipbuilding contract and also the largest order in Voith Marine Technology's history. To be built during the next 42 months by South African Shipyards in Durban, eight of
Golar reports floating liquefaction progress NASDAQ-listed Golar LNG has swung to a loss but has reported progress on its floating liquefaction (FLNG) venture. Golar recorded a net loss of $24.2M for 2Q14 versus net income of $59M in 2Q13. Excluding non-cash items, the company posted an adjusted net loss of $10.6M in the most recent period
Two more ship management firms in Shanghai FTZ Two more wholly foreign-owned ship management companies have registered in the free trade zone in Shanghai, China, prompting the development of clusters of international shipping companies in Shanghai's Pudong New Area. The Seawork Management (Shanghai) and Maersk Ship Management Consulting had
Seadrill opens door for acquisitions Seadrill, the listed London-based drill ship and rig operator in John Fredriksen's business empire, sees the current weak market as an opportunity for acquisitions. "The current weakening of the market caused by the oil companies' cash-flow situation may create interesting opportunities to acquire
Ship banned from Australian ports The Australian Maritime Safety Authority has today placed a three-month ban on Vega Auriga (IMO 9347786). The Liberian-flagged, 9981gt container vessel now on its way to Auckland, New Zealand from Brisbane, Australia is prohibited from entering any Australian port for three months. The Australian
Danish bank reports profit rise on impairment reversals Danish Ship Finance, the Copenhagen-based shipping bank, has posted a strong rise in 1H14 net profit on large impairment charge reversals. Group total income rose slightly, to DKK475M ($82M) in 1H14 from DKK459M a year earlier, but net profit rose to DKK882M from DKK112M. The bank booked reversals
Golden Ocean's falling profits warn about 3Q14 loss Golden Ocean Group has reported a fall in net profit for both 2Q14 and 1H14 and is warning of a small net loss for the current quarter. The listed dry-bulk carrier owner, part of John Fredriksen's business empire, reported a 2Q14 net profit of just $1.0M compared with $43.5M a year earlier. Revenues
Zim unloads in US despite protests Pro-Palestinian activists have been unsuccessful so far at preventing Zim-operated box ships from operating at US west Coast ports, port officials have confirmed. The Haifa, Israel-based container line has become a target for protestors seeking to link them to the fighting between Israel and
KOGAS seeks six LNG carriers for 20 years Korea Gas Corporation (KOGAS), the world's biggest LNG importer, has officially issued a tender for only South Korean shipping companies to timecharter six LNG carriers for 20 years. Through an official announcement, KOGAS said that the LNG carriers will deliver shale gas from the Sabine Pass LNG
SBI Offshore mulls five-rig order Singapore-based offshore equipment provider SBI Offshore said today it is in discussions with a Middle East-Chinese consortium to build up to five jack-up drilling rigs. The consortium is the same one that recently awarded an SBI subsidiary a $24M contract to provide design and engineering services
Cook Islands-flagged ships have most PSC detentions Japanese classification society ClassNK's annual report on Port State Control (PSC) has found that Cook Islands-flagged vessels in its register had the highest number of PSC detentions last year. Among the ships classed by ClassNK, Cook Islands-flagged ships had a detention ratio of 28.6% in 2013,
COSL's net profit up 39.1% in 1H14 Shanghai-listed China Oilfield Services (COSL) announced yesterday that it recorded a net profit of CNY4.42Bn ($719M) for the first half of 2014, making an increase of 39.1% year on year. The company posted revenue of CNY16.3Bn during the reporting period, up by 28.1% than 1H13, and its earnings per
Taiwan inks MoU on maritime audit Taiwan's Maritime and Port Bureau inked a Memorandum of Understanding (MoU) with a Canadian company COMART on Monday for voluntary auditing. IMO auditors will be invited to Taiwan this October to implement a relevant audit, according to the MoU; the final report of the voluntary audit is expected to
Samsung C&T to expand Singapore LNG terminal Samsung C&T Corporation, South Korea's second biggest construction firm, has been chosen to expand the Singapore LNG terminal. The terminal officially opened in February and the expansion will mark the third phase of its development, taking its capacity from the current 6M tonnes per annum (Mtpa) to
Indian Oil Corporation seeks VLCC State-run Indian refiner Indian Oil Corporation (IOC) is seeking to hire a VLCC for two years, brokers told IHS Maritime. "IOC would like a VLCC to be delivered in the Arabian Gulf-West Africa range from November or December, on a timecharter basis," a Singapore-based broker told IHS Maritime. The
Eastern Pacific orders two more LPG carriers Singapore-based Eastern Pacific has exercised options for two mid-sized LPG carriers at Hyundai Mipo Dockyard. The two 38,000m³ vessels are scheduled for delivery by 31 July 2017, said HMD in a Korea Exchange filing today. Eastern Pacific originally ordered two similar ships in March, for delivery
Hurricane Marie closes two Long Beach terminals Large waves powered by Hurricane Marie tossed rocks onto the roadway at the Port of Long Beach.Two cargo terminals at the Port of Long Beach today suspended vessel operations due to 10- to 15-foot high wave surges powered by Pacific Hurricane (now Tropical Stom) Marie that are endangering longshore workers. It...
Baltic Reefers acquires NYK's reefer division Baltic Reefers will acquire NYKCool from NYK Reefers, the refrigerated shipping segment of Japanese shipping giant NYK Line on Sept. 1. NYKCool, a dedicated reefer carrier that moves perishable goods, will be rebranded under the revived name Cool Carriers, although it will continue to handle the commercial operation of its entire fleet....
Canadian trade on track for healthy growth Canadian export growth is slated to rise to 4.7 percent this year and 7.7 percent in 2015, as global and particularly U.S. demand builds, non-energy shipments rise, and the Canadian dollar weakens, according to the Royal Bank of Canada. That predicted increase in exports comes after outbound shipment growth of just...
Truckload carriers compete for drivers as US freight demand heats up Schneider National is looking for more than just a few good drivers. The largest privately owned U.S. truckload carrier wants to hire 100 drivers in the region around Birmingham, Alabama, to bolster its fast-growing dedicated trucking business and other operations in the South. Like many of its truckload competitors, the $3.6...
Arctic shipping presents insurance challenges While the melting polar ice cap presents opportunities for carriers to take cheaper and faster cross-Arctic shortcuts between the Atlantic and Pacific oceans, the chilly routes represent a dilemma for the marine insurance industry. Warming oceans have been shrinking Arctic ice at the rate of 13 percent per decade, creating wider passages...
Legislation gives Port of Hueneme chance to modernize Officials at the Port of Hueneme hope that a new funding bill will help them become more competitive in years to come. California Gov. Jerry Brown signed into law AB 2395, legislation that increases the harbor district's borrowing authority by $9 million. The port hopes that increased borrowing power will help...
Pay top issue for US truck drivers, survey says A survey of 2,000 truck drivers by National Retail Systems showed that 79 percent listed pay as their top reason for deciding where to work. NRS said the survey highlights a quandary for motor carriers. "Market conditions will not allow transportation companies to increase pay beyond a certain level," said Joe...
Port of Seattle chooses new CEO Ted J. FickThe Port of Seattle Commission has selected manufacturing and transportation veteran Ted J. Fick as its next CEO. Fick will take the helm on Sept. 29, the day before current CEO Tay Yoshitani is scheduled to retire. Commissioners, who must vote on Fick's appointment in public session, will vote...
Next Up: Consolidation What does it mean if the largest container line in the world is making money while most of its peers are less profitable or struggling? Where will it lead? A gradually emerging theme during the past two years is that Maersk Line is achieving profitability while many of its smaller competitors...
HSBC and the British Chamber of Commerce in Turkey sign agreemnt to support commercial ties between UK and Turkey A new British Business Centre in Istanbul has been established by the British Chamber of Commerce in Turkey and HSBC Turkey to provide practical business support services to businesses working in both Turkey and the UK. A strategic partnership agreement has been signed between HSBC and the British Chamber of Commerce...
TruStar Energy Celebrates High Plains Bioenergy CNG Public Fueling Station Grand Opening GUYMON, Okla., Aug. 21, 2014 /PRNewswire/ -- TruStar Energy, a leading developer of compressed natural gas [CNG] fueling infrastructure throughout the US, is excited to celebrate the grand opening of High Plains Bioenergy's fast-fill CNG station which is located across the road from their Guymon, Oklahoma processing facility. "High Plains Bioenergy, a...
Young Entrepreneurs from New Zealand Come Out On Top at the FedEx Express/Junior Achievement International Trade Challenge Asia Pacific Finals HONG KONG, August 21, 2014 - Team NZ from New Zealand has emerged winners at the annual FedEx Express/Junior Achievement International Trade Challenge (FedEx/JA ITC) Asia Pacific Finals in Hong Kong. Shannon Metcalfe from Avondale College and Isabelle Stangl from Long Bay College in New Zealand beat 52 other students andimpressed...
Info-X Software Tecnology introduces $5 million headquarter expansion TRANSPORTATION SOLUTIONS PROVIDER CAPITALIZES ON OUTSOURCING TREND GURGAON, INDIA (August 20, 2014) -- Info-X Software Technology, provider of software solutions and back-office support to US-based transportation companies, introduces its newly renovated and expanded $5 million headquarter facility situated in Gurgaon, the high-tech capital of India. The facility expansion accommodates the growing number of...
US grain exporters welcome ILWU contract but rail delay concerns persist U.S. grain shippers are welcoming the International Longshore and Warehouse Union's collective bargaining agreement with Pacific Northwest grain handlers, but they are still concerned about poor rail serve that is hampering their ability to get exports to Asia. The ratification of a new four-year agreement between the ILWU and three large...
US labor agency cracks down on trucking violators of 'whistleblower' laws A U.S. agency is imposing big penalties on companies that allegedly fired truck drivers for raising safety complaints, and it's not the Federal Motor Carrier Safety Administration. In two separate cases, the Occupational Safety and Health Administration recently ordered trucking operators to pay more than $1 million in total restitution to...
Drewry: Rates steady heading toward planned Sept. 1 hikes Drewry's Hong Kong-Los Angeles container freight rate benchmark was unchanged for the second week in a row at $2,075 per FEU. Full-size chart Spot rates in the trans-Pacific trade are holding steady as peak-season volumes continue to keep capacity tight on trips to the U.S. East and West Coasts. Drewry's benchmark rate from...
DHT meets analyst bets DHT Holdings saw its adjusted loss rise in the second quarter as its fleet grew but the result came in just as analysts predicted.
US seizes $32m in drugs The US Coast Guard has interdicted cocaine estimated to have a wholesale value of $32.4m during a boarding of a general cargoship.
VLCCs head downward Rates for VLCC spot fixtures are heading downward after spending last week at multi-month highs.
"Yes" causes anxiety Shipping has expressed its apprehension that a Scottish vote for independence could have a negative effect on the country's shipping and offshore maritime sector, a survey said.
Piraeus profit stable Piraeus Port has seen its first half profit hold firm.
BW LPG's ethane hopes BW LPG has drawn a double positive from the excitement surrounding the emerging market for very large ethane carriers (VLECs).
Borealis takes nine Commerzbank has completed the sale of nine container vessels to Borealis Maritime.
Marginal profit for Awilco A slow market trends have resulted in Awilco LNG (ALNG) posting a marginal profit in the second quarter of 2014.
VLECs designs evolve Designers of large gas carriers specifically engineered for the long haul ethane trades will need to give particular consideration to the ships' containment and propulsion systems to maximise their trading efficiency, a new report says.
Seadrill in orders freeze John Fredriksen's Seadrill has called a halt to newbuilding orders as it waits to see which way the market will turn.
NSR opens earlier Northern Sea Route (NSR) has opened two weeks earlier than last year and is now ready for commercial shipping traffic, Tokyo-based Global Ice Centre (GIC) said.
Strong half for Fisher UK shipping group James Fisher posted an improved profit in the first half of 2014 thanks to new business both at home and overseas.
Aurora in positive start Aurora LPG has reported a profit of just over $6m according to preliminary figures for its first operational period.
Bumper payout for BW LPG BW LPG has paid out over $100m in dividend after a remarkable VLGC market helped jack up its bottom line.
Nordic trims losses Nordic Shipholding has reported an interim pre-tax loss of $3.4m in figures released first thing Wednesday morning.
Weak rates dent GOGL Golden Ocean has just managed to post a positive result for the second quarter of 2014 in the face of the weak freight rate environment.
China Cosco seals funds China Cosco Group has secured a huge new credit facility courtesy of China Merchants Bank, it emerged Tuesday.
Statoil fixes MPOV Nordic Maritime has secured a charter of up to 45 days from Statoil for a multi-purpose offshore vessel.
Ardmore files shelf Ardmore Shipping Corporation is looking to raise fresh funds according to a financial disclosure to US regulatory authorities.
Salary paramount, but truck drivers attracted to local trucking jobs With millions of truck-driver job ads flooding the market, the survey found that 79 percent of the drivers polled agreed that salary was most important when choosing a job. Home time was ranked as the second highest.
Drewry: Air freight prices inch up in July
Company warns drivers of high Labor Day weekend theft rate FreightWatch International put out a call to action for logistics firms to "ensure security protocols are up-to-date and in line with industry best practices for both in-transit and warehouse operations - both will be heavily targeted."
ZIM upgrades Med-West Africa service
IATA chief worried about Vietnam airport privatization
West Coast Longshoremen ratify contract, make progress on second The ILWU and the PMA, which represents employers, said Tuesday that they had reached a tentative agreement on terms for health benefits, subject to agreement on other issues, as they continue negotiations on a new labor contract.
CEVA expands in San Diego
Hackers hit UPS Store
NEWS FLASH: ILWU, PMA reach deal on health benefits The International Longshore and Warehouse Union and the Pacific Maritime Association, which represents employers, said Tuesday that they had reached a tentative agreement on terms for health benefits.
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