Results round-up A flurry of figures from Diana Shipping, Finnlines, Navios Partners and others
Can Yamal's $5bn LNG ships avoid the impact of sanctions? International pressure on Russia makes the project's 16 gas carriers a riskier investment
Ardmore Shipping rises to slim second-quarter profit New tankers joining fleet boost product and chemical carrier owner
Diana will continue to expand despite second-quarter losses Greek dry bulk firm expects the market to get worse before it gets better
Top Ships drops its share offering citing slump in price Pistolis hopes for bounce back after a 20% dip
China leads in first-half newbuilding orders But Cansi predicts slowdown in months ahead
Navios Partners swoops for two more containerships Insurance settlement boosts second-quarter earnings for Frangou-led partnership
Finnlines reports its strongest quarter in eight years Grimaldi's Finland-based shortsea subsidiary says it is ready for the 2015 sulphur rules
Negative fleet growth for aframax crude tankers on the horizon Shrinking fleet should spur earnings' spikes
Savannah posts record box volumes US east coast port passes 3m teu milestone for first time in its 69-year history
Hamburg Süd's CCNI deal valued at $160m CCNI board approve the deal based on the current state of box shipping industry
Suezmax holds cargo discharge as Iraq launches case to seize crude Tanker at the centre of Kurdish oil ownership dispute remains at Galveston
P3's collapse gives Hong Kong a reprieve, but alliances still reduce port calls World's fourth-largest port loses five boxship visits per week this year under G6 and CKYHE
Data Hub: World Fleet Update The boxship fleet capacity increased in June to reach 17.5m teu
Höegh LNG Partners launches IPO in New York Master limited partnership raises funds as it seeks long-term charters
Closing the gap at Hapag-Lloyd How will new shareholders and a change of management influence the culture and future direction of the German carrier?
Indian seafarer feared dead after falling off tanker Australian authority calls off searches for 13-year Wallem veteran
Aronnax: Ballast your opinion here How prepared is the industry for the ballast water convention, and how fair will enforcement be?
Australia approves $9.4bn Adani coal mine Queensland project could boost dry bulk shipping to India
Overt state control of ports expansion fading Governments increasingly look to the market when making development decisions, says Drewry
Seaspan sees small gain in revenue amid weak charter market Capital markets move adds to war chest
Shipping warned about threat of Ebola virus As the fears over the spread of the Ebola Virus in West Africa continue, marine insurers say clients have to ensure their crews take every precaution. Protection & Indemnity (P&I) Clubs have issued warnings to shipowners over the risk of Ebola and told members crews need to be made fully aware of
Top Ships pulls the plug on offering plan NASDAQ-listed Top Ships has voluntarily withdrawn its registration statement for a share sale in light of its depressed stock price. In June, Top raised $20M via a heavily discounted equity offering, well below the $30M it had targeted. The company filed a registration statement for the sale of up
UN bans North Korean vessel fleet North Korean vessel operator Ocean Maritime Management (OMM) has been banned by the United Nations in the aftermath of a weapons exporting investigation. OMM operated the 14,000dwt general cargo ship Chong Chon Gang, which was seized in July 2013 by Panama after military equipment was found hidden
Navios expands its box-ship exposure NYSE-listed Navios Partners has confirmed two more container-ship acquisitions as it continues to diversify its fleet. The partnership will acquire a pair of 2006-built, 8,204teu vessels for a total of $117.7M. The ships will be delivered in 4Q14 and chartered out for a minimum of four years at
Tanker in Kurdish oil dispute faces arrest American authorities have issued an arrest warrant for a tanker loaded with 1M barrels of Kurdish crude that has become entwined in Middle East geopolitics. As of 29 July, the Suezmax United Kalavryta, owned and managed by Piraeus-based Marine Management Services, has been anchored roughly 95km (60
Seaspan to extend Carlyle JV Container ship lessor Seaspan and private equity firm Carlyle plan to extend their asset-purchasing joint venture (JV) by another year. Greater China Intermodal Investments (GCI) was formed in 2011 between Seaspan, Carlyle, Tiger Group Investments and Seaspan founder Dennis Washington. The initial
Qingdao Wuchuan wins first CNG carrier order Chinese shipbuilder Qingdao Wuchuan Heavy Industry has won an order for the world's first ever compressed natural gas (CNG) carrier from Indonesian state-owned power company Perusahaan Listrik Negara (PT PLN). The 2,200m³ vessel will have an overall length of 110m, fly the Indonesian flag and will
NCL cautious about third quarter NASDAQ-listed Norwegian Cruise Line (NCL) doubled its adjusted profits during the second quarter of this year but has disappointed investors with tempered guidance relating to the third. NCL posted net income of $111.6M for 2Q14 against a loss of $8.8M in 2Q13. Excluding special items, adjusted net
Togo pilots single window The pilot phase of a Single Window for Foreign Trade in Togo was officially launched on 30 June. Known as SEGUCE Togo (the Société d'Exploitation du Guichet Unique pour le Commerce Extérieur au Togo), it is one structural reform that aims to enhance the competitiveness of the Togolese economy and
Tanker confirmed as hijacked in Gulf of Guinea A product tanker has been hijacked off the coast of Ghana, the vessel's owner confirmed today (29 July). The Kiribati-flagged Hai Soon 6 was hijacked by 10 heavily armed pirates off the coast of Ghana early on 26 July, a spokesperson for owner Hai Soon Diesel & Trading Pte Ltd said. Since then, the
Sinopacific wins orders for AHTS and PSV ships Sinopacific Shipbuilding Group announced yesterday (28 July) that it has been awarded newbuilding contracts by Shenzhen Huawei Offshore Shipping Transport (Huawei Offshore), a subsidiary of Shanghai Salvage. The orders are for the construction of three Anchor Handling Tug Supply vessels (AHTSs) and
Hutchison profits fall Singapore-listed Hutchison Port Holdings Trust's profits for 2Q14 have fallen 15% year-on-year to HKD637.4M ($82.2M). HPH Trust also saw operating profits drop by 8% this quarter to HKD874.4M, while revenue increased by 1% to HKD3,063M. For the year to June, throughput of HPH's deepwater ports
Seafarer shot in attack off Malaysia A seafarer has been reported as shot in the neck during an attack on a Mongolian-flagged tanker off Malaysia. He is now in hospital and recovering, according to maritime security consultancy Dryad Maritime. The product tanker, owned by Ji Xiang Marine Services, was boarded by pirates about 2nm south
VLGC rates soften as charterers hold back Rates to haul LPG on very large gas carriers have dropped after hitting a record high last week. Brokers attributed this to several factors. First, LPG traders have been holding back on transactions ahead of Saudi ARAMCO releasing contract prices for August term shipments for August. "Some traders
Evergreen to improve UK and Ireland services Taiwanese container carrier Evergreen Line is to offer a twice-weekly service to Dublin, Ireland, and slots on a weekly basis to Liverpool in the UK from its European hub in Rotterdam. On the Rotterdam-Dublin route, Evergreen will run its own independent service on a weekly shuttle basis and will
Campaign launched to check rest hour compliance The maritime authorities of the Paris and the Tokyo Memoranda of Understanding (MoU) on Port State Control have launched a campaign to ensure watchkeeping personnel comply with the number of rest hours stipulated by the 1978 STCW Convention. The inspection campaign will be conducted from 1 September
Danaos cites 'green shoots' NYSE-listed containership lessor Danaos says that it sees evidence of improved fundamentals despite booking lower revenues in its latest quarter. The company posted a net income of $16.6M for 2Q14 against $19.5M in 2Q13. Excluding special items, adjusted net income was largely unchanged at $11.6M
Sewol survivors claim little help from Coast Guard Danwon High School students who survived the capsizing of the ferry Sewol testified yesterday (28 July) at the trial of 15 of the ferry's crew members who are accused of involuntary manslaughter and criminal abandonment. The Sewol capsized during a routine Incheon-Jeju journey on 16 April, leaving
SHI releases better than expected 2Q14 results Samsung Heavy Industries (SHI), one of South Korea's big three shipbuilders reported 2Q14 results which significantly beat consensus forecasts thanks to changes in its offshore order levels. SHI announced on 25 July that its 2Q14 net profits dropped 8.6% year-on-year (y/ y) to KRW262.9Bn ($257M).
China to publish guide to Arctic navigation in October China's Transport Ministry has announced that a guide to Arctic navigation will be published in October. Making the announcement yesterday (28 July), the guide, which will be called Navigation Guidance for Arctic Route (Northeast Passage) will be published by China Communications Press. The guide
UPS earnings reflect improving economic growth Strong business demand for package and freight transportation drove volumes and revenue higher at UPS in the second quarter. The largest U.S. transportation company, UPS benefited from solid growth in e-commerce, increased industrial activity in the U.S. and rising demand in Europe and Asia for U.S. exports. A one-time $665 million...
Drewry: Air rates up in June after May losses The Drewry East-West Air Freight Price Index rose to 101.6 in June. Full-size chart Air freight spot rates on Drewry's East-West Air Freight Price Index made up some of the ground lost in May last month, continuing year-over-year pricing gain trends. Related Sunny peak season expected as China exports strengthen. The index rose...
Vancouver penalty system cutting truck turn times Average turn times have dropped at Port Metro Vancouver. Full-size chart Last winter, congestion at Port Metro Vancouver was so bad that it triggered a month-long strike by hundreds of truck drivers. Four months later, turn times are averaging less than an hour, thanks to a government-imposed system of penalties for terminals...
AirBridgeCargo Airlines eyes new routes after record first-half volume AirBridgeCargo Boeing 747-400ERF freighterAirBridgeCargo Airlines, Russia's largest scheduled cargo carrier, plans to add more routes and boost frequencies of existing services over the next six months after traffic soared 16 percent to an all-time high in the first half of the year. The Volga-Dnepr subsidiary transported 188,354 tons of cargo in...
Baltic short sea carrier reports best quarter in eight years Finnlines, a leading Baltic short sea shipping line, today posted its biggest quarterly profit in eight years as it sold surplus ships, axed loss-making routes and disposed of non-core operations. The Finnish roll-on, roll-off carrier booked a profit of €14.7 million ($20 million) in the three months through June, compared with...
Savannah moves 3 million TEUs in fiscal year Container ship at the Port of Savannah. Photo: spirit of america / Shutterstock.comThe Port of Savannah broke the three-million-TEU mark for the first time in its recently ended fiscal year, a new record for the port. The Port of Savannah's throughput reached 3.1 million TEUs in fiscal 2014. Full-size chart The Georgia Ports...
TRAC: Chassis providers want voice in NY-NJ 'gray' pool TRAC Intermodal CEO Keith Lovetro says he's optimistic a "gray" chassis pool can be created for the Port of New York and New Jersey, but that chassis providers should have a say in how the portwide pool is governed. "We would have difficulty supporting any pool where we didn't have a...
Sunny peak season expected as China exports strengthen A series of positive factors have lined up in China's export space, not least the double-digit growth in June, raising expectations that the recent strong performance of air and ocean cargo volumes will extend into a solid peak season. China's exports in June rose 11.4 percent year-over-year, pushing up ocean container...
Low-sulfur bunker fuel prices sink to six-month low The price of low-sulfur fuel per metric ton in Rotterdam, the Netherlands, a global indicator of bunker prices, has dropped $46.21 in six weeks. Full-size chart Spot prices for low-sulfur bunker fuel sank for the sixth straight week last week, a total drop of just over 7 percent. The price of low-sulfur fuel...
Transport Corp. of India's profit up in Q1 Transport Corp. of India reported its net income in the first fiscal quarter, from April to June, was $2.7 million, surging 16 percent year-over-year from $2.3 million. Quarterly income was $87 million, up 8.5 percent from $80 million for the corresponding period in 2013. "The positive results in the first quarter were...
India rail operator trying to clear Nhava Sheva backlog State-owned rail operator Container Corp. of India has reiterated its confidence in being able to clear the import backlog at Jawaharlal Nehru Port Trust (Nhava Sheva) through greater coordination with all stakeholders. "Our officers are working in close coordination with Railways and port authorities, and making their best efforts to improve...
NCL explains price hike Norwegian Cruise Line (NCL) chief executive Kevin Sheehan says market dynamics, currency fluctuations and new features are behind the leap in newbuilding prices demonstrated in the company's latest order.
Safe slides in the second Safe Bulkers turned in a second-quarter profit Tuesday but the result was well below what many market forecasters were expecting.
Kurdish oil cargo seized A US judge has ordered marshals to seize a disputed crude cargo, alleged to have been exported by Iraqi Kurdistan, onboard a Greek-controlled tanker off Galveston.
Stemcor row reignites Stemcor UK and former director head back to tribunal after failing to settle differences over redundancy.
Finnlines on the up Finnlines turned in a profit Tuesday that represents its best quarterly result in eight years.
TOPS shelves share sale Top Ships has abandoned plans to pursue a Wall Street fundraiser in which it was looking to offload approximately $50m worth of new shares.
NMM boosts box fleet Navios Maritime Partners (Navios) made waves on Wall Street Tuesday after posting a second-quarter profit and announcing plans to acquire a pair of containerships for $117.7m.
Diana stays red Diana Shipping has slipped to a fractionally deeper than expected loss in the second quarter.
Sinopacific raids Cosco Wang Xingru has left the top spot at stocklisted Cosco Pacific to join privately-owned Sinopacific Shipbuilding Group as its new chief executive officer.
Ardmore sneaks a profit Ardmore Shipping has crept into the black in the second quarter of 2014.
SSC set for boost Singapore Shipping Corp is projecting better times ahead after a slip in first quarter profit.
HMD suffers in Q2 Hyundai Mipo Dockyard (HMD) has posted a second consecutive loss for the current financial year.
Seaspan deal to lengthen Seaspan is looking to extend its newbuilding partnership with the Carlyle Group, Dennis Washington and other investors.
PLN in CNG breakthrough Indonesian's Perusahaan Listrik Negara (PT PLN) has ordered the world's first ever compressed natural gas (CNG) carrier.
Sinopacific snares five Sinopacific Shipbuilding has netted its first domestic order for offshore support vessels.
HHI bleeds in Q2 Hyundai Heavy Industries has sunk to a deep loss in the second quarter.
Wan Hai taps bond market Wan Hai Lines has raised TWD 1.8bn ($60m) from a bond issue, the Taiwanese liner company has confirmed.
Troim leaves Seatankers post Tor Olav Troim has quit his full time post with John Fredriksen's Seatankers Group but is not cutting ties with the Norwegian magnate's empire.
Freeport seals Indo deal Freeport-McMoRan has reached a deal with the Indonesian government to resume exports of copper concentrates.
WOM maintains growth Wintermar Offshore Marine (WOM) has reported an 11% growth in first half net profits despite a slightly weaker second quarter.
Danaos dips Fleet utilization is up for Danaos Corp but this has yet to translate into higher revenues and profits.
Seaspan wants to become a $10 billion company Seaspan has an ambitious orderbook, saying its "managed fleet consists of 109 containerships, representing a total capacity of over 840,000 TEU, including 30 newbuilding containerships" due by the end of 2016.
UPS sees revenue gains in Q2 During the second quarter, UPS saw international small package revenue rise by 6.2 percent, year-over-year, to $3.3 billion, as domestic package revenue increased by 5.2 percent to $8.7 billion. International exports rose 9.1 percent.
EU Commission approves Polish LOT rescue aid
Exel starts North American freight brokerage
FAA could fine Southwest $12 million for improper repairs "Safety is our top priority, and that means holding airlines responsible for the repairs their contractors undertake," Transportation Secretary Anthony Foxx said in a statement. The carrier has 30 days to respond to the charges.
U.S. steel imports fall 11% in June Steel imports from Canada were up just more than 1 percent to 534,000 net tons, while imports from South Korea dropped almost 22 percent to 457,000 net tons, after a 45-percent increase in May.
Gaza supporters plan protest at Port of Oakland
Washington Notebook: U.S. ports receive $100 million in security funding
Singaporean vessel hijacked off Ghana Vessel and crew have yet to be located.
Mixed outlook on prices across Europe Good avails reported at German port of Hamburg.
Prices soften in Fujairah There was a public holiday in Fujairah, Suez.
UK marine lubricants and fuel supplier opens new base Facility comprises new office and depot.
'Eco' shipowner books a profit Over half of fleet in water and earning, company says.
Sniffer technology explored in the US Planes could boost ability to check ships for compliance in remote parts of North American ECA.
Finnlines returns to profit in H1 Expresses confidence for 2015 ECA changes.
Mixed trading seen across Asia Strong demand reported in Singapore.
Iceland: Call to restrict ships' emissions Cruise visitor numbers are on the rise.
Operators urged to plan and prepare to avoid fuel switch blackouts Operators in North Europe must be ready by New Year's Eve as 'there will be no grace period' in implementing ECA sulphur limit.
Ship battery system wins financial backing Battery maker set for 'aggressive' growth.
Cruise line returns to black Bunker savings drive up Q2 results.
T&T eyes bunkering opportunity in Haiti Countries cooperating on energy supplies.
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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