Scorpio Tankers announces $100m stock buyback Update: Despite short-term weakness in freight rates, management confident about its long-term position
Braemar Seascope sees embedded boxship surpluses for next three years Ultra-large vessel deliveries sufficient for another 12 Asia-Europe loops
GasLog Partners looks to raise more than $150m from IPO Spin-off MLP will acquire three gas carriers from sponsor, with options for 12 more
Only a matter of time until Jebel Ali handles 18,000 teu ships Growing volumes and cascading of vessels will see larger ships head to GCC countries, says DP World executive
Astomos rakes in more than $130,000 per day for VLGC spot charter Owners could seek one- or two-year charters to lock-in skyhigh rates
HPH Trust profits boosted by Asia Container Terminals part-sale Singapore-listed port holding company sees year-on-year 3% rise in throughput
Rough trade, rough men The deep sea fishing industry inflicts appalling conditions on some of its workers
Guangzhou Shipyard International posts steeper loss in first quarter CSSC unit sinks deeper into the red on foreign exchange-related items
BG Group chief executive resigns Second top level departure in matter of days
Yang Ming unit books two 60,000 dwt bulkers Kuang Ming places order at Imabari Shipbuilding for $28m-$30m each
Cosco Pacific sees 7% rise in profits on strong China volumes growth Throughput in Yangtze River Delta terminals shows 14% rise in the quarter
Stainless steel vessels shine as interest builds in chemical tankers MISC sells three sisterships to Sinochem
Flurry of pre-monsoon scrap deals at strong rates VLCC Universal Peace sold for more than $19m
Ardmore cuts losses after listing Gurnee expresses confidence for 2014 MR outlook
New gas engine technology keeps Wärtsilä high Despite restructuring, Finnish engineering firm pins hopes on diverse range of services and China
New services for Bristol Cronus Logistics inaugurates Irish Sea connections
Hannaford team quits Clyde for CDG Ship finance lawyer and colleagues switch firms
SITC posts 18% gain in first-quarter net profit Intra-Asia specialist supported by higher shipping volume and expansion of freight forwarding business
Jiangsu Rongsheng reports wider losses in January-March Shipbuilding unit of China Rongsheng continues dismal performance
Nakilat sees net profit climb 17% Qatari LNG shipping giants hail international business tie-ups
Pacific Basin wins $350m in export credit-backed financing from JBIC Funding will go to support previous purchase of 18 ships at Japanese yards
CIMC profits down 51% in first quarter Traditional slow season erodes volume of dry container sales by 35%
Scorpio gives back to shareholders Scorpio Tankers has announced two stockholder-friendly moves - a dividend hike and a share buyback - after a quarter of lower adjusted profits and weaker rates
Jebel Ali wins SCATA title again DP World's flagship port has for the sixth year taken the annual Supply Chain and Transport Awards (SCATA) title and also won the Corporate Social Responsibility (CSR) award for its "outstanding contribution to community welfare"
Owners of Chonghaejin Marine apologise as offices raided The family behind the company that operated the ill-fated Sewol ferry has published an apology as investigators raided their offices today
Caution hits ship recycling market The ship recycling market on the Indian sub-continent became cautious last week as steel prices fell, despite ongoing speculative purchases in India
Korea Coast Guard raided in Sewol probe The scope of investigations into the Sewol disaster continues to widen, with prosecutors searching the Korea Coast Guard's office in Mokpo, South Korea, today
Precious stays upbeat despite Q1 earnings drop Precious Shipping Line (PSL) has posted a year on year drop of 54% to $4.27M on earning in 1Q14, but the company is still positive about the future
Keppel, Seafox to study rigs with plug and abandonment features Singapore rig builder Keppel FELS has entered an engineering services agreement with the Seafox Group to build an accommodation jackup rig with well intervention and plug and abandonment (P&A) features
Thai exports to rise this year Thailand's exports look set to rise this year as tense domestic politics will see producers look overseas, IHS Maritime was told on 28 April
UN condemns Australian tow-back operations Representatives of the United Nations have joined Indonesia in criticising the Abbott Government tow-back policy at an International Workshop on the Protection of Irregular Movements of Persons at Sea in Jakarta last week
MOL bonds raise $500M for LNG and offshore expansion Mitsui OSK Lines, Japan's biggest shipping company, has issued $500M worth of bonds to fund the expansion of its LNG and offshore businesses
'Conflict of interest when class design ships' There is a conflict of interest when classification societies step into the market of consultant naval architects and start to market their own ship designs, the CEO of a leading consultancy says
SITC profits up 19% in 1Q Hong Kong-listed intra-Asia box carrier SITC's profits increased 19% year on year to $21.5M in the first three months in 2014, due to better freight rates and expanded freight forward business
Bulker newbuilding orders up 72% in March Investment in dry bulk carrier newbuildings rises 72% year on year in March, with 140 vessels ordered, up from the 81 bulkers ordered last year
New Teamsters Port Strategy on Display at LA-Long Beach A picket line established by independent truck drivers briefly shut down a container terminal at the Port of Long Beach today, but the impact was confined to one facility and was unlikely to result in terminal closures elsewhere in the harbor. In the longer term, however, the Teamsters-inspired action foreshadows the...
Hapag-Lloyd Reintroduces Two Asia-USEC Services In mid-May, Hapag-Lloyd will terminate its current Asia-U.S. East Coast NYE/SCE combined service and reintroduce it as two separate services, the New York Express and South China Express. The last NYE/SCE combined sailing will be the Hyundai Goodwill, voyage 038E19/038W23, with an estimated departure from Xiamen, China, on May 9, and...
NJ Truck Association Backs Port Driver Classification Bill A New Jersey state senator has introduced an industry-supported bill to clarify port drivers' status as independent contractors. The bill is a counterpoint to Teamsters-backed legislation seeking to reclassify the drivers as company employees. Sen. Joseph Pennacchio's bill would revise the exemption some drivers now have from unemployment insurance, which is...
Swift Earnings Show Truckload Contract Rates Rising Swift Transportation increased its revenue per loaded mile 3 percent in the first quarter as truck pricing rose and the company was paid for repositioning trucks. The president of the largest U.S. truckload carrier expects rates to rise even higher as the year unfolds. "We believe the capacity availability concerns expressed...
Weber Logistics Names Steve Buckman Vice President of Operations Santa Fe Springs, CA, April 24, 2014 - Weber Logistics, a leading third party logistics company, today announced the appointment of logistics industry veteran, Steve Buckman, as its new vice president of operations. Buckman will report to Weber's CEO, Harry Drajpuch, and be responsible for operations at Weber's distribution centers...
Holland Professional Driver David C. Henry Reaches Remarkable Three Million Mile Safety Record HOLLAND, Mich., April 25, 2014 (GLOBE NEWSWIRE) -- Holland professional driver, David C. Henry, was celebrated for reaching the remarkable safety record of successfully logging three million consecutive miles without a single preventable collision. To reach this outstanding achievement requires a lifetime commitment to safety. There are 428 activeHolland professional drivers on the road who have reached...
World's Biggest Meat Supplier Switches All UK Imports to DP World London Gateway 25 April 2014, London: JBS, the world's largest supplier of beef and chicken, is to switch all its UK imports from South America to DP World London Gateway, taking advantage of the new deep-sea shipping services coming into the port from Friday, 2 May. "We believe DP World London Gateway offers more...
World's Largest LCL Consolidator ECU-LINE Opens Own Offices in Malaysia at Port Klang and Penang Mumbai, 28 April 2014: As part of the global conglomerate Avvashya Group and 100% subsidiary of Allcargo Logistics Ltd, ECU-LINE has announced the opening of its own offices in Malaysia at Port Klang and Penang, with operations staring from May 2nd 2014. ECU-LINE is a global leader in NVOCC services and world's largest...
Port of Baltimore Receives Additional Funding From EPA To Clean The Air (BALTIMORE, MD) - The Maryland Port Administration (MPA) applauded the recent decision by the U.S. Environmental Protection Agency (EPA) to award a grant of $750,000 for the Port of Baltimore's Dray Truck Replacement Program, extending the program through March 2016. The current program allows for owners and operators of short-haul...
State seeks company to pilot Air Cargo Ramp project DOVER, Del. (April 28, 2014) - Plans to expand the existing Civil Air Terminal at Dover Air Force Base are now closer to lift off, as a formal Request for Proposals has been issued to identify a bidder that will take on the project. The State of Delaware is seeking turnkey proposals...
Celtic International Hires Mitch Kowalewski as Vice President of National Accounts April 28, 2014 (Chicago, IL) - Celtic International today announced that Mitch Kowalewski has joined the company as vice president of national accounts. Kowalewski will be responsible for managing and developing national accounts and will report to President Steve Golich. Prior to joining Celtic, Kowalewski served as vice president of sales at PAM...
CCS Racking Up New Business Fitting three cars into a container used to involve a long process of wooden supports and manpower. Today it is possible to fit up to six vehicles into one standard container using the innovative fitted metal racking service available from Consolidated Car Shipping. Unsworth Global Logistics (UGL) and Consolidated Car Shipping...
"Massive" Surplus of Midsize Container Ships Coming: Drewry The opening of the enlarged Panama Canal at the end of 2015 likely will trigger a "massive" surplus of 4,000- to 5,000-TEU container ships, many of which will have to be scrapped regardless of their age, according to Drewry Maritime Research. After its locks are enlarged, the waterway, which currently can...
Heady Days for Hamburg These are heady days for Hamburg, with its home carrier Hapag-Lloyd on the verge of acquiring the Chilean line CSAV's container assets to leapfrog a couple of Asian rivals into fourth place in the global rankings just five years after it was rescued from a near-certain bankruptcy and a humiliating...
Calculating Risk Any logistics director moving goods through North American ports can hardly be blamed for being risk-averse. Whether it's a trucker strike in Vancouver, British Columbia, hours-long backups at the Port of New York-New Jersey, or marine terminals buckling under the weight of thousands of containers disgorged by single mega-ships, there's...
Tapping Big Data to Improve Truck Utilization CHICAGO - So-called Big Data, or the explosion of electronic information that can be analyzed, is more than just a buzz word thrown around by the likes of IBM and Facebook, but a way to increase truck utilization as capacity tightens. First Advantage, for example, uses information collected by trucking company...
Vietnam's Ports Battle Excess Capacity The Dragon Bridge in Da Nang, Vietnam, on April 19, 2014. Photo: jethuynh / Shutterstock.com.Da Nang Port in central Vietnam handled 47,000 20-foot containers in the first quarter as cargo throughput recorded sharp growth. A total of 1.3 million tons of cargo crossed its wharves from January to March, 37...
Cosco Scraps a Dozen Container Ships China Cosco Holdings scrapped 16 vessels in the first quarter as part of its company restructuring and fleet renewal program. In an exchange filing last week, the Hong Kong-listed unit of China's top shipping company said 12 container ships and four bulk carriers totalling 803,087 deadweight tons were sold to...
48-Hour Trucker Protest Planned at LA-Long Beach A fax sent out by the Teamsters announcing the protest.A planned 48-hour protest by truckers at the ports of Los Angeles and Long Beach is set for Monday though it's unclear whether marine operations at the United States' largest container port complex will be affected. An official familiar with the situation...
Japan, US Fail to Strike Trade Deal Japan and the United States failed to reach a deal in bilateral negotiations over the proposed Trans-Pacific Partnership (TPP) free trade agreement during President Barack Obama's three-day visit to Tokyo, which ended on April 25. In the hope of striking an 11th-hour broad agreement, the two countries continued to hold hectic...
STNG takes flight Shares of Emanuele Lauro's Scorpio Tankers (Scorpio) took flight Monday on the heels of its first-quarter earnings report.
Bulking up Restructuring Greek company Seanergy Maritime appears on the verge of becoming a shipowner again.
Navios torches VLCC Greek tanker operator Navios Maritime Acquisition Corp (Navios Acquisition) appears to have sold its eldest VLCC for scrap.
Danaos banking more? Danaos Shipping appears to be fetching a firmer price that originally reported for one of the containerships it is selling for demolition.
VLCC sales boost Scorpio Scorpio Tankers (STNG) has posted an improved first quarter profit thanks to the sale of its VLCC newbuilding contracts to Genmar.
MSC Cruises in new talks Swiss-based MSC Cruises has been linked to a deal for its first new cruiseships at Fincantieri in Italy.
KSA trio held Three employees of the Korea Shipping Association (KSA) have been arrested following the sinking of the Sewol ferry on 16 April.
Cosco Pac profit flat Chinese port operator Cosco Pacific reported flat first quarter earnings despite seeing higher revenue as volumes rose.
Dorian could net $142.4m Dorian LPG is seeking up to $142m from its initial public offering (IPO) in the US with fresh cash from a strategic investor already in the bank.
Yard workers killed Two contract workers have died in a fall from a bulker at India's Hindustan Shipyard.
GasLog MLP sights $150m GasLog Partners has set its sights on collecting over $150m from its US initial public offering (IPO).
Hull cracking costly Germany's Dauelsberg has been fined $1.25m for not reporting hull damage in the US.
Greenpeace hunts SCF tanker Greenpeace is set for another showdown with Russia over Arctic oil shipments with an SCF (Sovcomflot) tanker the latest to attract the attention of the pressure group.
DP World volumes jump Dubai port operator DP World saw container volumes rise by over a tenth in the first quarter thanks to an expanded portfolio of terminals and a recovering global economy.
Snake on a ship Hawaiian store workers discovered a snake in a shipping container - and promptly whacked it to stop it escaping.
Stronger start for SITC SITC International has jacked up its first quarter profit thanks to improvements at its liner and freight forwarding businesses.
MAC makes OSV move Dubai's Marine Assets Corp (MAC) has splashed $125m on four new offshore service vessels in China.
Cosco Xiamen inks five China's Cosco Xiamen has kickstarted its fleet renewal with an order for five general cargoships.
Gulf Nav back in profit Gulf Navigation has posted its first quarterly profit since 2010 after slashing costs.
Korea pledges changes South Korea has promised a big review of safety laws to prevent a repeat of the Sewol sinking.
Rothwell takes pay cut Eamonn Rothwell has seen his pay at Irish Continental Group cut despite a strong year for the shipowner in 2013.
Samsung ratings sliced A deeper than expected first quarter loss from Samsung Heavy Industries has seen some of South Korea's top shipyard analysts reach for their red pens.
Swire adds four PSVs Swire Pacific Offshore (SPO) has returned to Japan Marine United (JMU) for another four platform supply ships.
State moves in at PDZ A Malaysian state-owned private equity company has bought into container line PDZ Holdings with a view to funding acquisitions.
GasLog is top stock GasLog is the best performing stock in the year-to-date among the 35 stocks covered by RS Platou Markets.
Samsung in losing start South Korea's Samsung Heavy Industries has fallen to a loss in the first quarter.
Costa sponson arrives The first in a series of sponspons that will be used to refloat the Costa Concordia arrived in Giglio Island, Italy over the weekend.
Imabari bags LNG duo Imabari Shipbuilding Co has secured newbuilding contracts for two LNG carriers from Spanish shipping company Elcano.
Nakilat numbers up Qatar Gas Transport Co (Nakilat) has made a strong start to the new financial year with a near 17% increase in net profit.
More U.S. trade sanctions imposed on Russia As part of a series of sanctions, the Commerce Department's Bureau of Industry and Security has expanded its export restrictions on items subject to the Export Administration Regulations in response to Russia's actions in Ukraine.
U.S. continues labor dispute against Guatemala
ITC: AGOA enhanced certain Africa-to-U.S. exports The U.S. International Trade Commission said benefits under the African Growth and Opportunity Act resulted in increased U.S. imports of automobiles, refined petroleum products and apparel from AGOA countries from 2001-2013.
U.S. readies for West African trade mission
Canada focuses on improvements during rail safety week
EU manufactures solar jet fuel European researchers say they have produced a glassful of solar jet fuel in laboratory conditions by using a combination of water, carbon dioxide and simulated sunlight. Next up? Create jet fuel on a larger scale at a competitive cost.
TNT Express sees revenues decline in 1Q
CIMC sells few dry containers, more reefers CIMC sold 203,200 TEU of dry containers in the quarter, a decrease of 35 percent from the first quarter of 2013, and 40,300 TEU of reefer containers, an increase of 50 percent, year over year.
Finnair Cargo has big first quarter
Infrastructure needs at odds with trust-fund realities
Neovia sale being explored
Drewry: Panamax containership surplus a growing problem
Bunker markets soften in Europe Rotterdam market was quiet on Monday.
Japanese shipbuilders eye fuel efficient engine market Companies joining forces on project.
Avails tight in Fujairah Public holiday in South Africa.
Bunker sales slide in Panama Volumes down year-on-year.
Wartsila adds orders Chinese order for dual-fuel unit holds promise of more, says executive.
Bunkers to address Philippines power shortage Several bunker-fuelled power plants planned.
Marine hose executive jailed and fined Court case part of long-running investigation by US authorities.
Shipping firm penalised for environmental breach Company pleads guilty to failing to report possible fuel leak from boxship.
Indian energy giant needs fleet of 'fuel efficient' gas carriers Since fuel and other charges are to the charterer's account, GAIL is looking at chartering fuel-efficient ships.
Asian IFO market stable as new trading week begins MGO prices were trading mixed.
Equity provider for bunker terminal divests other investments Firm is looking to 'fuel growth at core subsidiaries', says its Chairman and Founder.
Chinese bunker supplier makes a loss On the back of 'sluggish' marine fuels demand and softer bunker prices in 2013.
EU ports band together on inland LNG bunkers To develop LNG bunkering in the Rhine-Main-Danube corridor.
'Misunderstanding' over Malaysia detention, says Singapore supplier Vessels involved in in OPL operation detained by Malaysia authorities.
Singapore offshore firm springs back to profit Plans to add newer, fuel-efficient OSVs to its fleet.
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