Paying piracy ransoms 'still legal' A new Counter Terrorism and Security Bill, which was presented to the UK parliament on Wednesday, will not change current rules on piracy ransom payments, insurance industry experts and maritime lawyers believe. The bill is a response to heightened concerns over radicalisation and threats from
Nord LB shipping losses rise again Germany's second-largest shipping lender Nord LB has suffered another rise in shipping-related losses. The Hanover-based state bank's nine-month report today showed an increase in losses of its shipping and aviation segment of 24% to €182M ($227M). The deficit would have even been
Finland to renew its icebreaker fleet for €1bn A government report published today outlines state-owned Arctia Shipping's future for the next fifteen years. Arctia Shipping's main responsibility is to keep Finland's seaways open year-round. The Cabinet Committee on Economic Policy lists a number of strategic points, first of which is that the
Shipowners to take on risk assessment role Members of the UK P&I Club are to be invited to participate in the first of its kind initiative in which masters and their crews will be asked to undertake risk assessments of their vessels. The club has announced it is to trial the self-assessment scheme for its entered ships putting the onus on
World's first LNG-ready container ship named in Ulsan The world's first LNG-ready ultra-large container ship has been named MV Sajir in Korea by the United Arab Shipping Company (UASC) today. The 15,000teu Sajir will be operated on routes from Asia to Northern Europe after delivery later in 2015. LNG-ready means the vessel has been built with double
APMT starts landside operations at Maasvlakte II APM Terminals has begun landside operations at its new Maasvlakte II automated container terminal at the port of Rotterdam. The terminal is not due to receive its first ship call until the second half of December but APMT told IHS Maritime that, in the meantime, the new terminal was being used to
Fincantieri 'no comment' on STX France takeover Italian shipbuilder Fincantieri has declined to confirm or deny reports that it is looking to take a majority stake in leading French shipbuilder STX France. Italy's Il Sole 24 Ore newspaper reported that Fincantieri was in talks with STX Europe with a view to buying the 66.6% holding of Korea's
Singapore LNG Corp secures huge loan Singapore LNG Corporation (SLNG) has secured a SGD1.11Bn ($853.72M) term loan facility with five banks. The loan will help it refinance some of the Singapore government loans extended to it for the building of the initial phases of the Singapore LNG Terminal on Jurong Island. SLNG was involved in
EU approves scheme to monitor ship emissions EU member states, the European Commission, and the European Parliament have reached agreement on the introduction of an EU monitoring, reporting and verification (MRV) scheme for CO2 emissions from ships in 2018. The regulation introducing the scheme now has to go through a round of formal
Copenhagen Malmo Port introduces barge services between cities Copenhagen Malmo Port (CMP), the Danish-Swedish port company, says it will introduce a barge service to link its facilities on either of the Sound. "Daily barge traffic between the cities will simplify transportation of containers and other freight. The shortcut over the strait will be flexible and
Platou shareholders agree Clarksons takeover Shareholders that control 92.6% of the equity in RS Platou, the Norwegian shipbroker and investment bank, have approved takeover of the company by Clarksons, the London based maritime services group, Clarksons said in a statement. Approval by shareholders of both companies is a precondition for the
Icon Offshore reports 14.5% drop in profits Malaysia's Icon Offshore reported a 14.5% year-on-year fall in profit to MYR18.9M ($5.64M) for 3Q ended 30 September 2014, from MYR22.1M. Revenue decreased by MYR6.5M or 2.6% from MYR248.3M for the quarter ended 30 September 2013 to MYR241.8M. The drop was primarily due to lower charter revenue
Zanzibar severs ties with Philtex agency The government of Zanzibar terminated its agency agreement with Philtex (Belize) Ltd, which is based in Dubai, effective from 13 October, 2014. Philtex had an exclusive ten year contract to manage the Tanzania Zanzibar International Register of Shipping (TZIRS). In a notice issued by Dr Malik Akil
Tandara Spirit sails for Singapore Facing legal action, the crew sit-in on board the Tandara Spirit tanker in Port Phillip Bay, Australia has ended after three weeks with the ship yesterday sailing for Singapore. The ship, employing all Australian seafarers on the coastal tanker trade will be replaced with foreign-crewed tankers and
ISP launches new range of lifejackets International Safety Products (ISP) has just launched a range of lifejackets, for use across the marine sector. Each lifejacket is equipped with a fully integrated AIS Man OverBoard signal device, supplied by Ocean Signal, demonstrating the new concept behind the design. The longstanding
TTA posts highest profit in five years Thai shipping and energy group Thoresen Thai Agencies (TTA) today reported a net profit of THB1.015Bn ($30.9M) for its 2014 fiscal year that ended on 30 September 2014. Chalermchai Mahagitsiri, president and CEO of TTA touted the company's FY14 performance as the "best" in five years, thanks to
Maybulk posts losses for 3Q14 Malaysian Bulk Carriers (Maybulk) reported a loss of MYR2.89M ($0.86M) for 3Q14, reversing a profit of MYR8.1M in the corresponding period last year. Revenue dipped slightly to MYR62.9M in 3Q14 from MYR62.8M in 3Q13. The loss was attributed to lacklustre earnings across the company's business
HHI workers stage walkout Hyundai HI (HHI), the world's biggest shipbuilder, has announced through a Korea Exchange filling that the company's labour union have gone on strike at its shipyard in Ulsan. Approximately 2,700 workers at the Ulsan shipyard, aside from the shipbuilder's special & naval shipping division's
China's coal imports drop 6.6% China's coal imports totalled 223.2M tonnes in the first three quarters of 2014, declining 6.6% year on year, and are expected to decline by 13% for the full year, according to IHS Energy. National raw coal production totalled 2,850M tonnes in the first three quarters of 2014, 1.3% lower than in
SYSC 1QFY15 profit plunges Malaysia-listed Shin Yang Shipping Corporation (SYSC) posted lower net profit for 1QFY15, which ended on 30 September 2014. Its earnings plunged to MYR106,000 ($31,600) from MYR6.42M in 1QFY14. Revenue dropped 13.7% year on year to MYR255M in 1Q15 from MYR296.6M in 1Q14, while the profit before
Malaysian company ventures to UAE Malaysia-listed Freight Management Holdings is making a move into the United Arab Emirates (UAE) through a joint venture between its wholly owned subsidiary FM Global Logistics Ventures and China-incorporated Amass Freight International. The joint-venture company will be known as Amass Freight
UASC hedges bets on LNG-fuelled giant boxships Carrier makes its orderbook LNG-ready, but not from the beginning
Shippers slam US west coast delays as Thanksgiving brings a brief respite Retailers brace for Black Friday shopping rush and pre-Christmas sales as supply-chain gridlock worsens
Industrial action hits Hyundai Heavy Industries' production Workers stage another partial strike as wage talks grind to a halt
Ocean Three aims for mid-January launch Start-up slightly delayed as CMA CGM withdraws from existing alliances
Owners give thanks as product tanker earnings soar to six-year high Arbitrage window and a rush to fix ships before Thanksgiving drive up demand for tankers hauling gasoline from Europe to the US
Maersk and CMA CGM in second congestion charge U-turn Update: Evergreen and OOCL among lines that also suspend levies to cover the cost of US west coast port delays days after reinstating them
UK P&I to launch self-assessment trial Crews asked to score safety measures
Clarksons raises $50m from share placing London-listed broker edges closer to taking over rival broker RS Platou
ICTSI expands Manila yard capacity to ease congestion Port operator opens empty storage depot to alleviate Philippines bottlenecks
Platou shareholders agree Clarksons acquisition The $440m broker consolidation deal is moving forward
Fall in iron ore prices triggers capesize debate Cheaper ore and lower Chinese port stocks are unlikely to be the panacea for a struggling dry bulk sector during 2015
UASC newbuildings upgraded to 15,000 teu New lashing bridge adds another 1,000 teu nominal capacity to the line's latest arrival, Sajir
Diana Containerships signs longer deals for two panamaxes Sharply reduced rate accepted for periods exceeding one year
Opec seeks a production cut - with a little help from its friends Can Mexico and Russia slash excess oil supply and help members to make a deal that sticks?
Fewer container ships at anchor at LA-LB versus earlier in the week Seven container ships, two more than the previous day but fewer than earlier in the week, were at anchor on Thursday morning awaiting berths at the congested ports of Los Angeles and Long Beach, according to the Marine Exchange of Southern California. The container ships at anchor at 7:00 AM on...
Rotterdam to triple tariff discounts for transshipped containers The port of Rotterdam will triple the discount on tariffs for deep-sea containers that are transshipped to other ports in Europe over the next three years in a move likely to trigger a response from its main rival Hamburg. The current discount of €1.65 [US $2] on the 8 euros tariff...
Asia airlines sustain solid growth through October Andrew Herdman, director general of the AAPA, addresses airline executives in Tokyo.HONG KONG - The international air freight demand of Asia-Pacific airlines, measured in freight ton kilometres (FTK), grew by a firm 6.4 percent in October, on the back of buoyant demand for electronic goods from manufacturing hubs in North...
Madrid the latest city to join China's growing rail network HONG KONG - A train pulling 82 wagons loaded with containers is somewhere between the Chinese manufacturing hub of Yiwu and the Spanish city of Madrid, 6,200 miles down the track. It will take the block train 21 days to reach the Spanish capital as it inaugurates the world's longest rail...
Montreal port gets back to normal after one-day strike Operations at the port of Montreal are returning to normal after a day-long strike by municipal workers opposing the state's pension reform plan interfered with access to the terminals and disrupted operations. A one-day municipal workers strike disrupted cargo operations at the port of Montreal today. Montreal firefighters and other municipal employees...
ICTSI expands yard to cope with rising Manila volumes HONG KONG - A yard expansion project by International Container Terminal Services, Inc. (ICTSI) in Manila has been completed and will help the port address the growing volumes and congestion that has choked the port since February. Manila International Container Terminal has added yard space to its Berth 7 that will...
Declining revenue per TEU puts pressure on liner profitability HONG KONG - The revenue container shipping lines are achieving per TEU has been falling steadily over the past three years as freight rates continue to weaken under the burden of excess capacity. Revenue per TEU has fallen steadily since 2012.According to data from DynaLiner, revenue per TEU in the past...
Seattle to invest in terminals and its new partnership with Tacoma The Port of Seattle Commission on Tuesday approved its 2015 budget that calls for $373.8 million in capital expenditures for the seaport and for Sea-Tac International Airport. Seaport investments will include modernization of Terminal 5 to make the facility big-ship ready. Improvements are designed to accommodate vessels with a capacity of...
US broker and forwarder group says congestion surcharges are illegal The National Customs Brokers and Forwarders Association of America on Wednesday charged that ocean carriers may be violating the U.S. Shipping Act with their congestion surcharges at West Coast ports. The NCBFAA also called upon federal agencies to appoint a mediator in the contract negotiations between the International Longshore and Warehouse...
Congestion surcharge merry-go-round continues as carriers back off anew For the second time in two weeks, three carriers are reversing their decision to implement port congestion surcharges, though the reason wasn't immediately clear. The U.S. trade group of customs brokers and forwarders charged on Wednesday that the surcharges are illegal. Maersk Line, Yang Ming and CMA CGM backed off of port...
Post-peak season, US domestic intermodal rates drift lower A weekly index of intermodal spot pricing showed post-peak season weakness and was weighed down by rate erosion on freight moving out of Chicago, where intermodal prices have been consistently strong this year. However pricing support out of the West Coast pointed to the effects of congestion at the Los...
Zim spinoff vote set for Dec. 31 An Israel Corp. shareholder vote on the spinoff of Zim Integrated Shipping Services and several other businesses into a new company, Kenon Holdings Ltd., has been scheduled for a Dec. 31 vote. Earlier this year, longtime parent Israel Corp. reduced its 99 percent stake in Zim to 32 percent, with the...
Big operation in Crete Greek authorities have launched a big rescue operation for a vessel with around 700 immigrants aboard, off Crete.
Anek stays in red Anek Lines has posted a fractionally bigger loss for the first nine months of 2014 as revenue declined.
Finnlines firing again? Finnlines looks to be firing crew for the second time in the last three months.
Baltic dividend rises London's Baltic Exchange is increasing its interim dividend as underlying finances remain strong.
Nord/LB cuts loan loss German bank Nord/LB has reduced its loan-loss provisions for the first nine months as profit rose.
Landmark strike at HHI Hyundai Heavy Industries (HHI) workers have staged the first partial strike since 1994 after 52 unsuccessful rounds of negotiations with central management.
India readies yard fund India's government is close to setting up a shipbuilding fund worth at least INR 150bn ($2.42bn).
Boskalis: no merger Dutch dredging group Boskalis has denied it is looking to merge its tug division with AP Moller-Maersk.
Trident adds 14 A few weeks before new emissions regulations are introduced, Trident Alliance - a band of shipowners looking to ensure enforcement - has added 14 companies to its tally.
Kurushima wins bulk duo Hong Kong interests are believed to be behind a new order for two bulkers at Japan's Shin Kurushima.
Shih Wei slides Shih Wei Navigation has seen earnings eroded in the third quarter as revenue fell.
ER modifies eight Germany's ER Schiffahrt is retrofitting eight ultra-large container vessels and has scooped an award from DNV GL as a result.
Trustees take OW fleet OW Bunker's tanker fleet has been taken over by a new company formed by the bankrupt Danish fuel group's trustees.
Annual joy for TTA Bulker owner Thoresen Thai Agencies (TTA) has reported its best annual performance since 2009 as it returned to the black for the financial year 2014.
Smedegaard cashes in DFDS' top two executives have sold shares in the company worth $1.7m.
MES lines up bonds Japan's Mitsui Engineering & Shipbuilding (MES) is planning a sale of five and seven-year bonds.
Canal hands over $1bn The Panama Canal Authority (ACP) will pay more than $1bn in tax after a stronger financial year.
Clarksons hits target UK shipbroker Clarksons has gained approval for its merger with RS Platou from investors controlling 92.6% of the Norwegian shop's shares.
China Earth's illegal deposit China Earth Shipping has been fined AUD 20,000 ($17,170) over the illegal disposal of rubbish off Gladstone, Australia.
Australia bans MPP Australian authorities have banned an Indonesian multi-purpose vessel from entering or using any port in Australia for three months.
Seadrill down over 20% Seadrill's stock fell over 20% on Wednesday after the John Fredriksen-controlled drilling rig owner suspended its dividend.
SLNG seals bank funds Singapore LNG (SLNG) has secured a SGD 1.1bn ($850m) term loan facility as it looks to evolve into a commercial entity.
Perdana profit up 70% Perdana Petroleum is set for a strong end to the 2014 financial year after posting a bumper third quarter performance.
Fuel oil stocks at three month low Singapore onshore fuel oil stocks fell 7.4% week-on-week.
Lawyer: Senior staff had every opportunity to track Singapore events Lars Moller's lawyer dismisses OW's 'We knew nothing' claim.
OPEC leaves output unchanged Crude oil prices tumbling on Thursday.
Weather disrupts bunkering at Black Sea port Sources say barges fully booked 'til end of next week.
Crude falls in early trading Bunker prices in Singapore hub weaken for third day in a row.
Gas-fuelled fleet heads for the high seas Arbitrage opportunities await on transatlantic routes.
Ports report strong sales ahead of OW collapse Bunker deliveries in the US twin ports of Los Angeles and Long Beach grew in September.
No ban on open loop scrubbers in Sweden Situation has been complicated by potential conflict between the application of EU directive on clean water and the sulphur directive.
Neste Oil to introduce low sulphur bunker fuel Product will be distributed by bunkering vessel in the Helsinki region.
Indian oil trader enters Singapore market Company seeks to expand supplies in SEA and to Australia.
Bunker monitoring tool makes market debut System could be a lower cost alternative to mass flow meters, says developer.
Japanese dual-fuel engine design gets class approval Engine will be used by Japan's first LNG-fuelled tugboat, says ClassNK.
Frontline losses widen in Q3 But expects to benefit from stricter ECA rules going forward.
EU outlines next steps over proposed MRV scheme The proposed regulation will enter into force on July 1, 2015 once formally adopted.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
