Global Ship Lease on the hunt for acquisitions Earnings call indicates company has $80m to spend
Diana Containerships ekes out small profit in second quarter Investors including affiliate Diana Shipping and institutions invest $92m in owner of eight boxships
Eid caps a flurry of demolition sales But pacemaker India faces a drop in demand as domestic steel prices weaken
Höegh LNG hails its Indonesian FSRU achievement Floating storage and regasification unit off Lampung was the toughest yet, company says
Qatar takes control of UASC Gas-rich state becomes majority shareholder in the fast-expanding shipping line
German shipowners head for challenging times VDR demands a united effort to secure the country's status as a leading shipping nation
Scorpio Tankers slides to second-quarter loss Fleet growth costs hit ambitious US-listed tanker owner
Wan Hai sells $60m bonds to build working capital Intra-Asia specialist issues first batch of $167m programme
Industry viewpoint: Three ways to boost UK shipping UK must build on the firm foundations for success that have been laid in the Strategic Partnerships Plans for Ports and Shipping
Evergreen to start own Rotterdam-Dublin feeder Taiwan line also upgrades Liverpool services
Freeport MacMoran to begin exporting copper concentrate from Indonesia US miner receives permit and waiver on January's excess levy after it commits $115m to build smelter
VLGC spot rate dips but market remains hot Spot earnings still higher than $100,000 per day for owners
Paris and Tokyo MOUs to launch hours of rest campaign Initiative will last three months and encompass 10,000 inspections
Dorian LPG targets Chinese market VLGC owner with the world's largest newbuilding programme looks east for opportunities
West coast labour contract talks to resume next week after short break Negotiators promise that cargo will keep moving
Higher expenses erode HPH Trust's second-quarter profits Cost of services and labour hits results despite revenue increase
Braemar and ACM complete merger New shipbroking company is now up and running
Savannah breaks box record Container volume at the US Port of Savannah reached 3.14M teu in FY14, the first time that the port has moved more than 3M teu in a Fiscal Year. The Georgia Port Authority (GPA), which oversees Savannah, said on 28 July that this unmatched container volume contributed to a record Fiscal Year in
Panama flag boss defects to Liberia In a major leadership switch for the world's top flag states, former Panama Registry boss Alfonso Castillero has joined the Liberian Registry. Castillero had been director general of Panama's merchant marine and head of the registry since 2008. He presided during a period when Panama instituted
Nakatani secures Toda Kisen order Japan's Nakatani Shipyard has secured an order for an asphalt/bitumen tanker from domestic shipowner Toda Kisen. The 3,500dwt vessel has a scheduled delivery date of October 2015 and has been allocated yard number 640. It will have an overall length of 96.5m, a beam of 16.5m, and a depth of 8.4m,
US docker talks extend into August Negotiations between US West Coast dockworkers and their employers are taking longer than predicted but waterfront operations have so far been unaffected. The International Longshore and Warehouse Union (ILWU), which represents 20,000 longshoremen at 29 West Coast ports, and the Pacific Maritime
Diana ups box shipping investment Diana Containerships has announced improved quarterly results together with new investment plans from Diana Shipping founder Simeon Palios. NYSE-listed Diana Shipping previously owned 3.33M shares of NASDAQ-listed Diana Containerships, representing a stake of 9.3%, while Palios owned 2.07M shares,
Scorpio Tankers posts 2Q14 loss NYSE-listed Scorpio Tankers has posted a steeper than expected quarterly loss as product tanker rates continue to stagnate. The Emanuele Lauro-led company reported a net loss of $574,000 for 2Q14 against net income of $4M in 2Q13. Excluding special items, Scorpio's adjusted net loss was $11.2M in
Tampa wins $1.68M security grant The port of Tampa has won a $1.68M security grant by the US Federal Emergency Management Agency (FEMA) under its Seaport Security Grant Programme. The grant will be used to fund three projects at the Florida port and buy new and upgraded equipment. Port Tampa Bay will match the grant with a required
Nantong Tongshun wins order for AHTS duo Chinese yard Nantong Tongshun Shiprepair has won an order for two Anchor Handling Tug Supply (AHTS) vessels from Singapore-based Pacific Crest, a subsidiary of Pacific Radiance. The two newbuildings will have an overall length of 73m, beam of 17.2m, depth of 7.5m and a draught of 6.1m with delivery
Sea Shepherd found guilty of oil spill Conservation group Sea Shepard has been fined $15,000 for spilling diesel while moored in the port of Cairns in Queensland, Australia in October, 2012. The conservation group pleaded guilty to the charge in February, with the decision adjourned until last week, the Cairns Post reported. It was the
Costa Concordia makes it to Genoa Costa Concordia has been handed over to the team responsible for its breaking and recycling after being safely docked in the port of Genoa yesterday afternoon. Ownership of the vessel was transferred in mid-afternoon from Costa Crociere to Italian engineering group Saipem and Genoa ship repairer San
Italian rail operators slam increased costs FerCargo, the association of private Italian rail cargo operators, has strongly criticised a government decree proposing to reduce low-cost guarantees for the electricity that powers domestic rail cargo. The decree, announced in June, exempts 'cross-border rail traffic' from any increase in energy
Precious Shipping reports loss Thai dry cargo shipowner Precious Shipping has reported a second-quarter loss of THB52.76M ($1.65M). This, it said, was due to a one-time write-off of $2.3M in fees paid on credit facilities to finance secondhand vessels that are no longer needed. The loss reversed a net profit of THB161.2M for
Sewol owner's son arrested The son of the late owner of the ferry Sewol has been arrested by South Korea police. Prosecutors will now question Yoo Dae Kyun about his involvement with Chonghaejin Marine, the company that operated Sewol, which capsized during a routine Incheon-Jeju trip on 16 April. Yoo was reportedly
Hyundai Glovis takes over four VLCCs Hyundai Glovis, the logistics arm of South Korea's Hyundai Motors, has taken over ownership of four VLCCs worth KRW189Bn ($184M). Hyundai Glovis announced through a Korea Exchange filing that the investment is related to a long-term delivery contract with Hyundai Oilbank Singapore. Hyundai Glovis
Hyundai Glovis 2Q profits surge Hyundai Glovis, the logistics arm of South Korea's Hyundai Motor Group, saw 2Q14 net profits rise 60.8% year-on-year to KRW297.4Bn($290M). However, income derived from the company's core business dipped 6.4% y/y to KRW167.7Bn. The company attributed this to less favourable foreign exchange rates.
Seafarer lost overboard in Indian Ocean The search for a seafarer who fell overboard from an oil tanker 80 nm off Australia's northwest coast on Sunday (27 July) has been abandoned. Speaking to IHS Maritime today (28 July) an Australian Maritime and Safety Authority (AMSA) spokesperson said that as there had been no trace of the missing
Controversial China rig resumes work A Chinese oil rig that was the cause a diplomatic dispute with Vietnam has returned to work after being moved from disputed waters. In May, the 34,000 GT Hai Yang Shi You 981 (HYSY 981), a drilling rig built in 2011 and operated by China Oilfield Services, began exploratory drilling in the disputed
China's anti-2M reports counterproductive, SeaIntel says If the negative portrayal by China's state broadcaster of the proposed 2M tie-up between Maersk Line and Mediterranean Shipping Co. this weekend has official backing, it could be an indication of internal political pressure to shield Cosco and China Shipping Container Lines from a stronger competitor. This is the view of...
Rise in Mediterranean shipments boosts utilization, spot rates A rise in traffic from Asia to Mediterranean ports has led to a tight capacity issue and a substantial rise in spot prices for container cargo. Drewry reported a total of 422,000 20-foot containers were moved from Asia to the Mediterranean in March. April TEUs rose slightly to 427,000, but May's...
Suez Canal widening to begin this week The Suez Canal's major deepening project is just over the horizon as crews will start widening and dredging a 34-kilometer strip in order to improve wait times for vessels using the canal. AsiaCruiseNews.com reported today that the long-awaited widening project could take years to complete, but dredging crews will begin within...
Prospect of Nicaragua canal stumps industry observers Ometepe Island volcanoes in Lake Nicaragua.When the Nicaraguan government earlier this month approved plans by a Hong Kong-based company to build a canal linking the Pacific with the Caribbean and thus the Atlantic, observers in the maritime industry were largely left scratching their heads. The HK Nicaragua Canal Development Investment Co.'s...
US containerized imports indicate early peak season Containerized U.S. imports rose 6.9 percent year-over-year in June. Full-size chart U.S. containerized imports in June showed substantial year-over-year growth, as labor negotiations on the West Coast seem to have induced an early ocean container shipping peak season. U.S. containerized imports were up 6.9 percent year-over-year in June. That gain followed a 10...
TransForce offers C$495 million for flatbed, tank trucker Contrans Fresh from acquiring U.S. truckload carrier Transport America, Canadian trucking giant TransForce is offering nearly C$500 million for Contrans, a publicly owned Woodstock, Ontario-based holding company specializing in bulk, flatbed, and tank trucking. The "friendly takeover" proposal would make Canada's largest trucking operator even larger, adding about 15 new operating subsidiaries...
TNT Express posts improved results on restructuring, cost cuts TNT Express today posted improved second-quarter results, driven by an ongoing restructuring program, cost cuts and a continued recovery at its previously loss-making Brazilian business. The Netherlands-based global parcel delivery group swung to an operating profit of €8 million ($10.9 million) in the three months through June from a €287 million...
Congestion worsens at Rotterdam, spreads to Antwerp, Hamburg Port of Rotterdam. Photo: travelfoto / Shutterstock.comWorsening congestion at the port of Rotterdam has prompted two short sea and feeder shipping lines to impose surcharges of around $100 per container. Shippers could also be hit by congestion surcharges at one of Hamburg's largest terminals, and Antwerp is showing the first signs...
Hoegh hatches MLP IPO Hoegh LNG Partners of Norway is moving forward with an initial public offering (IPO) in the US.
Samho Crown canned Pakistan has emerged as the final destination of a VLCC that has been sitting idle off Dubai for nearly four years.
Scorpio OKs buyback programme Scorpio Tankers' board approved a new share buyback plan as the company deploys more of its financial muscle to put cash in the hands of shareholders.
Scorpio holds Alligator Scorpio Tankers took advantage of an extension option on a long-range-two (LR2) products tanker as part of a string of deals to hold onto chartered-in ships.
Tigger four released A bunker barge crew hospitalised after a gas leak on an Exmar vessel have been released.
GSL slides in the second Global Ship Lease (GSL) of the UK turned in a second-quarter loss Monday but the deficit hasn't derailed its campaign to pursue expansion.
Hai ho scrapped
DCIX nets $92m Diana Containerships has collected $92m from a private placement which has seen Diana Shipping and chief executive Simeon Palios inject cash into the company.
VDR: Fundamental change Michael Behrendt says unexpectedly long crisis changing face of industry.
Scorpio on script New York-listed tanker owner sees second quarter loss match forecasts.
Olympic dream Hanjin Shipping chief executive Cho Yang-ho has struck gold after being appointed to lead the organization of the 2018 Winter Olympics in his homeland.
Delta in Jones Act debut Delta Air Lines has reportedly made its debut in the Jones Act tanker trade fixing a US-flagged vessel.
Jefferies boosts DHT Jefferies has upgraded shares in growing tanker owner DHT Holdings amid a brighter view for the crude sector and a belief the company's stock is undervalued.
Brokers complete merger Braemar Shipping Services and ACM Shipping have formally completed a merger to create a London listed company with a market capitalisation of around £175m ($235m).
Gulf Nav back in black Gulf Navigation Holding has reported a second quarter net profit of AED 3.1m ($844,000) in figures released on Sunday.
Mitsubishi in port play Japanese trading house Mitsubishi Corporation has entered the terminals business in Colombia by taking a stake in Santa Marta.
Fednav bulker grounds A Fednav-owned handysize bulker has run aground near the US city of Detroit, the US Coast Guard (USCG) has confirmed.
Teekay LNG stacks shelf Teekay LNG Partners has set the scene for up to $500m in shares sales with a shelf registration.
HPH Trust down in Q2 Hutchison Port Holdings Trust (HPH Trust) has seen a 12.4% drop in second quarter net profit as it was impacted by higher costs.
Castillero reflags Alfonso Castillero, who resigned as Director-General of the Panama Registry last week, has confimed that he is joining the Liberian Registry as Vice-President
Man overboard An Indian motorman is missing from the Wallem-managed, 105,000-dwt products tanker Sigma Integrity (built 2009).
Breakers take Concordia Title to the hulk of the salvaged Italian cruiseship Costa Concordia was transferred yesterday from Costa Crociere to the Saipem/San Giorgio del Porto consortium that will scrap the ship
Boustead buys into cruise Boustead Holdings of Malaysia has purchased the Port Klang Cruise Terminal from receivers of failed maritime security company Glenn Defense Marine.
Ferro leaving FMCSA to lead motor vehicle administrators
EIAP fails to boost Dominican apparel exports to U.S.
U.S., Mexico to strengthen produce safety "The FDA is working with our Mexican government counterparts as well as stakeholders from industry, commerce, agriculture, and academia to ensure the safety of products," said FDA Commissioner Margaret A. Hamburg.
Senate confirms two DOT leaders The Senate confirmed Victor Mendez as deputy secretary of transportation and Peter Rogoff as undersecretary of transportation for policy - both officials have been in those roles on a temporary basis.
Government-industry teaming becomes tool for security, economy
ILWU, PMA will take break from talks this week The two sides are trying to work out a new contract to replace the six year pact that expired on July 1. The ILWU-PMA agreement covers nearly 20,000 longshore workers at 29 West Coast ports.
TNT revenues down in Q2
Dachser continues Midwest expansion
Houston dredging begins Port Commission Chairman Janiece Longoria said an Army Corps of Engineers report found the minimum net benefits of the improved Bayport and Barbours Cut channels to the U.S. economy will be $35 million a year.
Savannah volumes top 3 million TEU
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.
New South Wales set to curb diesel emissions Goal is to have a diesel emission management strategy in place by year-end.
Scrubbers fitted on Baltic ferry New, larger smoke stacks containing scrubber units installed during 18-day, dry-dock stint.
Finland extends 'environmental aid' to vessels Three companies allocated funds to install scrubbers or modify fuel systems, but not all applications successful.
Profits climb at NuStar Energy Fuels marketing segment on track for bumper profits for full year.
US EPA steps up ECA enforcement efforts Several ships boarded to obtain fuel samples in what is thought to be a first in the United States.
Asian bunker market closes mixed While Singapore offices remained closed for a holiday.
Oil traders and shipowners feature in Singapore's richest Founder of one of city's biggest oil traders in top 20.
Bunker sales lift Rosneft's bottom line But company outlook challenged by newly-imposed US sanctions.
Gibraltar: Bunkering 'not in breach' of EU laws Investigation finds Spanish complaints without foundation.
Gas leak prompts closure of Houston Ship Channel LPG tanker leaked an 'unknown' amount of anhydrous ammonia during bunkering.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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