DHT on hiatus from newbuild market NYSE-listed DHT has reported losses in line with analyst expectations and signalled that it favours second-hand acquisitions over newbuilds for future growth. DHT posted a net loss of $8.1M for 2Q14 against a net loss of $7.7M in 2Q13. "A weaker market in the second quarter of 2014 was offset by an
Liverpool2 will create 5,000 jobs Peel Ports' £300M ($497M) investment in the Liverpool2 deepwater container terminal will create around 5,000 new jobs in the maritime and logistics supply chains over the next five years, including 500 at the port itself, the company states. As a result, £350,000 is being spent to enhance training
Wärtsilä signs five-year, eight-vessel maintenance deal Power supplier Wärtsilä announced today a technical management agreement with US-based Harvey Gulf International Marine that includes condition-based maintenance (CBM) and dynamic maintenance planning. The agreement covers six new liquefied natural gas-fuelled platform supply vessels and two new
Jinhui breaks even and raises cautious optimism Jinhui Shipping & Transportation, the Oslo listed Hong Kong based dry bulk carrier company, broke even in 2Q14 and expressed cautious optimism about the outlook. The company, which issued a profit warning earlier in the summer, reported 2Q14 net profit of $0.6M compared to a profit of $1.0M in the
DP World 'cautious' about Middle East crisis DP World Chief Executive Officer Mohammed Sharaf warned today that geopolitical issues could result in challenges to trade going forward, adding that he was particularly concerned about the situation in the Middle East. "The situation in the Middle East is not very clear and we are taking a cautious
Last MH370 call revealed Malaysia Airlines attempted one last call to the ill-fated MH370 flight the night it disappeared, Australia's Deputy Prime Minister Warren Truss told a media conference today. The satellite phone call has provided new information on the flight, which "suggests the aircraft might have turned south a
DP World earnings outpace revenue growth DP World announced strong 1H14 financial results with revenue growth of 11.6% plus even stronger EBITDA and EPS growth. "Earnings continue to significantly outpace revenue growth with 19.1% EBITDA growth and 40.8% EPS growth on a like-for-like basis," group Chief Executive Officer Mohammed Sharaf
Chiquita plots shipping overhaul Banana giant Chiquita has announced a major shift in its shipping strategy coinciding with its proposed merger with Ireland's Fyffes. Chiquita said on 27 August that it had identified an additional $20M of synergies in the merger, bringing total synergies to at least $60M. "The $20M of additional
Wisby Tankers orders world's largest asphalt tanker Swedish ship owner Wisby Tankers has ordered what is the world's largest asphalt tanker at Hyundai Mipo Dockyard. HMD officials told IHS Maritime that on 22 August, Wisby ordered a 37,000dwt asphalt tanker at around $50M. The vessel measures 183m in length, 32.2m in width and has a 17m height. The
Indian group buys VLCC to store Nigerian crude An Indian conglomerate has bought a secondhand VLCC as floating storage for Nigerian crude, brokers told IHS Maritime. A Singapore-based broker told IHS Maritime that Sandesara Group had bought 1998-built VLCC Neptune Glory for $23.15M from Dr Peters earlier this month. The tanker has been renamed
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)
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
Ship detained prior to collision A bulk carrier, which broke anchor in high winds off Fremantle Australia before colliding with a second vessel, had been detained by port state control only days earlier, the Australian Transport Safety Bureau reported. Port state control inspected and detained the 11,246gt Royal Pescadores, managed
Fatigue a factor in Rena catastrophe As the final report on the grounding of box ship Rena off New Zealand in 2011 is nearing completion, the New Zealand Transport Accident Investigation Commission (TAIC) has confirmed crew fatigue as a factor. Speaking with IHS Maritime, a TAIC spokesperson said experts from the Australian Transport
CMHI profits up 11% in 1H14 China Merchants Holdings (International) (CMHI) today said its profits rose 11% year on year to HKD2.1Bn ($270.9M) in the first half in 2014 on throughput rise. Its port operating segment posted a y/y 15% rise in profits to HKD2.2Bn, a stock filing of the company said today. In addition, revenues
Container volumes on the rise at North American ports The number of containers moving through major North American ports was up over 4 percent in the first half of 2014, port statistics show. Now that numbers published by the ports are all out - Metro Vancouver lagged in its release date, finally releasing its first-half number yesterday - a clearer...
Long Beach terminals reopen as storm surges subside The Port of Long Beach has resumed full cargo-handling operations after storm surges from Tropical Storm Marie subsided. Port of Long Beach terminals impacted by Tropical Storm Marie. Full-size image The port Wednesday suspended operations at two terminals due to 10- to 15-foot waves that battered south-facing piers and endangered dockworkers. The working of four vessels,...
Big ships could come to US ports under Maersk, MSC alliance WASHINGTON - Maersk Line and Mediterranean Shipping Co. could eventually operate ships of up to 19,200-TEUs on east-west trades that touch the U.S., within their planned "2M" vessel-sharing agreement, according to a filing with the U.S. Federal Maritime Commission. The two largest global container lines said they will initially operate a...
Duisburg completes Phase 1 of container terminal expansion Duisport's new rail crane at the logport 3 container terminal.Expansion of Duisburg's container terminals has entered a new stage, taking the large German inland river port one step closer to meeting increased demand and additional rail traffic. Sometimes referred to as the world's largest inland port, also known as Duisport, said the...
DCLI acquires technology provider REZ-1 Intermodal chassis provider Direct ChassisLink Inc. has acquired REZ-1, which for 20 years has supplied technology for intermodal equipment management and service. REZ-1 was founded in 1994 to manage Equipment Management Pool, the railroad-controlled domestic container program serving Union Pacific and Norfolk Southern.The company since has expanded its management services to...
More US motor carriers raise truck driver pay, bonuses, incentives The number of heavy truck or tractor-trailer drivers increased 1.9 percent in 2013, after rising 3.2 percent in 2012. The number of drivers is still about 6.4 percent below its 2007 peak. Full-size chart Boyd Bros. Transportation and Interstate Distributor are the latest U.S. trucking companies to boost truck driver pay as...
Assurance of Supply How Confidence in a Reliable Supply Stream Creates Healthy Companies One of the greatest supply chain challenges that companies face is to reliably and profitably meet global demand. Outsourced manufacturing, lengthy global supply chains, a large number of suppliers, and volatile demand all create an environment where supply chain decision-makers...
US private equity fund acquires container feeder ships An investment consortia including the U.S. private equity giant Kohlberg Kravis Roberts has acquired a portfolio of nine feeder container ships previously owned by German KG funds, signaling continued interest in shipping assets by private equity, and a continued pullback by KG funds. The investment vehicle for the purchase is Embarcadero...
Court dismisses NYSA-ILA lawsuit against Waterfront Commission over hiring A federal judge has dismissed an employer-union lawsuit challenging the Waterfront Commission of New York Harbor's new rules for hiring dockworkers in the Port of New York and New Jersey. The lawsuit has complicated a dispute over hiring of International Longshoremen's Association dockworkers needed to avoid labor shortages that have contributed...
PierPass handles 30 millionth off-peak truck Thirty million times since 2005 a truck entered or left a Los Angeles-Long Beach marine terminal during off-peak hours, relieving daytime congestion around the largest U.S. port complex, thanks to the Offpeak program run by PierPass. The OffPeak program, begun in July 2005, has nearly doubled capacity at the port complex...
DP World posts 'strong' first-half results New capacity and a pickup in global trade drove strong profitability at DP World in the first half of 2014, leaving the global terminal operator with a positive outlook for full-year 2014. DP World's profit jumped 26 percent year-over-year in the January-to-June period, from $295 million in 2013 to $332 million in...
Truck rates, imports point to stronger US fall retail sales, says DAT The DAT average U.S. dry van spot truck rate has experienced two peaks and still remains above the rate at the start of the year. Full-size chart Spot market truck pricing is unseasonably high in late August, with shippers paying on average 16 cents more per mile for dry van trucks than...
Maersk, MSC file 2M plan with FMC; review begins WASHINGTON - The U.S. Federal Maritime Commission Wednesday received the "2M" vessel sharing agreement proposal for the east-west trades, starting the clock on the agency's review of the Maersk Line-Mediterranean Shipping Co. plan for the alliance created following the rejection of the P3 Network by China in June. The agency will...
Tranztec Solutions Announces New Expanded TranzactorTM A2A Integration Library for the Transportation Industry Perrysburg, Ohio (PRWEB) August 21, 2014 Tranztec Solutions, Inc., a leader in transportation technology, recently announced that its TranzactorTM A2A Integrator, part of the TranzactorTM Integration Suite, has expanded its integration library to include some of the most popular Transportation Applications available in the industry. Users of TranzactorTM A2A Integrator can...
Chun Named Director of Engineering Design The Long Beach Board of Harbor Commissioners has appointed John Y. Chun, P.E., as the new Director of Engineering Design, heading up roads, utilities and other infrastructure projects for the Port of Long Beach.Chun, who started with the Port in 1996 as a civil engineering assistant, has served as a...
ASL sees red ASL Marine Holdings (ASL) reported a fiscal fourth-quarter loss Thursday but the deficit didn't catch industry observers off guard.
Bumi mounts fundraiser A leading Malaysian offshore contractor has returned to the capital markets in search of cash to finance fleet expansion.
CSCL sheds the red China Shipping Container Lines (CSCL) returned to profitability in the first-half of 2014, a period in which many other carriers were struggling to stay afloat.
Iraq vows to fight on Iraq's Ministry of Oil has pledged to continue to pursue seizure of a crude cargo alleged to have been illegally exported by the Kurdistan Regional Government despite a recent US court order throwing out a prior arrest order.
Price pressure spreads The pressure on bulker values could be spreading from Chinese-built units to ships built elsewhere.
Oceanteam rises Offshore shipowner Oceanteam Shipping has recorded a profitable second quarter on increased revenue after expanding its activities in Mexico.
Cosco Holdings loss grows State-controlled China Cosco Holdings Co (CCHC) has blamed weak containership and bulker markets for a bigger loss in the first half.
GMS makes more Abu Dhabi-based Gulf Marine Services (GMS) has marginally improved its profit in the first half thanks to high fleet utilisation.
SFL profit falls Oslo-based Ship Finance International (SFL) has posted a weaker net income in the second quarter of 2014 as revenue went down.
StealthGas waits it out Expanding Greek LPG carrier owner StealthGas is preaching patience after net earnings dipped in the second quarter.
SITC profit grows SITC International has clocked up a first half profit partly thanks to increased shipping volumes in the intra-Asia market.
DP World profit jumps Dubai's DP World has posted a 26% increase in first-half profit on higher revenue.
Chevron taking trio Oil major Chevron is buying three suezmaxes from Frontline as it ends their bareboat charters early.
KSS Line adds VLGC South Korea's KSS Line has returned to Hyundai Heavy Industries (HHI) for a new VLGC.
Harvey's maintenance deal US-based Harvey Gulf International Marine has signed a long-term maintenance agreement for its LNG-powered offshore supply vessels.
Attica keeps losing Greek-owned Attica Holdings has recorded a loss in the first half of the year, but hopes that a recent deal with a US investor will help it kick off new business initiatives.
New terminal for Skangass LNG provider Skangass is to build and operate a new terminal in Gavle, Sweden.
Fredriksen on the hunt John Fredriksen's Frontline 2012 is preparing to unveil its next growth plan, with smaller tanker operators in its sights.
Sales boost FRNT John Fredriksen's Frontline 2012 has seen second quarter profit soar as it sold ships and shares.
ICG profit falls Ferry operator Irish Continental Group (ICG) has seen a slight slip in its profit for the first half of 2014 but its net debt went down.
FRNT cancels MR duo Frontline 2012 (FRNT) has torn up two MR tanker contracts at troubled STX Dalian in China, but could face a fight to get its money back.
Frontline reduces loss John Fredriksen-controlled tanker company Frontline has cut its loss in the second quarter, despite a plunge in rates.
Jinhui inches into profit Jinhui Shipping and Transportation has just managed to edge into profit in the second quarter despite a 30% decline in revenue.
CMES returns to profit China Merchants Energy Shipping (CMES) has reported an interim profit of CNY 253m ($41m) reversing a year ago loss of CNY 138m.
Second Elmira ship held Singapore's admiralty sheriff has arrested a second Elmira-controlled chemical tanker latest court documents show.
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.
S&P raises Port of Halifax credit rating S&P said, "The stable outlook reflects our view of the HPA's prudent management of its capital program to date and our expectation that it will not issue significantly more debt in the next two years than it assumes in its capital plan."
USDA releases additional funds for export credit program The U.S. Department of Agriculture's Foreign Agricultural Service has released additional fiscal-year 2014 funds for its Export Credit Guarantee Program (GSM-102). Exporters now have access to $3.586 billion.
PierPass has helped divert 30 million trucks Bruce Wargo, the president and chief executive of PierPass, said, "While port congestion has increased worldwide, the Ports of Los Angeles and Long Beach are handling these pressures better than most of the other major ports."
Direct Chassis Link adds domestic chassis
Appeals court reverses decision on FedEx contractors
Cargo volumes set record at Virginia Port Authority in July
Steel boosts volumes in Houston port for July
Gnarly surf closes terminal in Long Beach
Maersk raising rates on imports from Europe
Oil and gas group Acteon to use Amber Road for restricted party screening
U.S. economy grew 4.2% in 2Q
WiseTech Global starts supply chain education initiative Among the first institutions to become a WiseEducation Partner is the University of Sydney's Institute of Transport and Logistics Studies, part of Australia's Key Centre of Excellence in Transport Research and Education.
Seattle picks Fick as port director
ITC says GOES imports don't harm U.S. industry
Two New Yorkers plead guilty to importing hazardous children's toys
2M Alliance to benefit from Scorpio's Triple-E vessel orders MSC to lease newbuilds on 15-year charters.
Prices rise across Europe Big gap in prices observed in Rotterdam bunker market.
Fujairah bunker prices mainly firm Demand was below average in Middle East hub.
Tougher rules loom for US waterways fleet Move brings barges in line with trains, trucks carrying hazardous material.
Asian bunker prices end day with small gains Below-average to average demand seen in Singapore.
LNG-fuelled OSVs to be maintained by Wartsila Contract to last for a period of five years.
Teapot refiners switch back to fuel oil Change to tax rules prompts players to dump cheaper asphalt feedstock.
New LNG terminal planned for Swedish port Facility to boost growth of area's LNG bunkering infrastructure.
Ethane-fuelled marine engine to launch next year Engine marker anticipating first deliveries mid-2016.
Thunderstorms and plasma inspire new exhaust cleaning technologies EU-funded project has had encouraging results with new methods to remove SOx, NOx, and PM from ship exhaust gas.
Andatee ventures into clean energy sector Enters into 10-year contract with Chinese mining firm.
Lukoil launches 'eco' bunkers Product is a hybrid of fuel oil and distillate fuels.
Bunker prices firm on the Panama Canal Good avails reported at the Central American port.
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