GasLog seals dropdown of duo to spin-off More dropdowns will allow fleet growth in strong LNG market, says chief executive
New tanker trade opens up Aframax due to discharge ground-breaking crude cargo in Europe next week
Stena set to cut up to 800 jobs RMT threatens 'strong industrial response' if members at risk
More Chinese carriers warm up to Vale and its giant ore carriers China Merchants Group joins Cosco and signs iron ore shipping contract with Brazilian miner
Rainy days keep scrap buyers at bay Demolition market faces storms on the subcontinent and an exchange-rate deluge
VLGC rates dip but remain at a historic high Gas carriers retain their Atlantic premium amid vessel build-up in the Middle East
Aframax sale highlights discount attached to Chinese builds Tanker sells more cheaply than Japan or South Korea-built tonnage for $14.5m
Mitsui & Co unveils $3.7bn charter deals for five LNG carriers MOL and NYK to build three vessels while Mitsui to order two with other partners
Another Zim ship delayed by Gaza crisis protesters Further action planned for October
Astomos returns to MHI for another VLGC New vessel will be delivered in 2016
Norden moves on Melbourne Dry bulk operator moves closer to its Australian clients
Coals continue to Newcastle as Australian bulk port defies protests Shipments continue at the country's largest import terminal, defying anti-mining row
Torm receives a transaction proposal from its lenders Danish firm may engage in a debt-equity swap that could further dilute shareholders
Angelicoussis chooses Daewoo for suezmaxes Greek owner agrees four vessels plus two options at close to $64m each
K Line pleads guilty in US price-fixing case Japanese carrier will pay $68m fine for antitrust breach involving ro-ro services
Federal Maritime Commission split over 2M Two of the five commissioners have voiced concerns but majority required to suspend 45-day process
German owners dominate boxship sales New figures reveal just how many ships German owners have sold over past year
ADB backs Ocean Sparkle fleet expansion Ocean Sparkle Limited (OSL) has secured Asian Development Bank financing to buy up to 10 tug boats and two platform supply vessels (PSVs)/anchor handling tug supply vessels (AHTSs). With the purchase, the Hyderabad-based port operations company is aiming to expand both nationally and in Sri Lanka.
Mitsui finalises eight LNGs Japan's Mitsui & Co has finalised 25-year time-charter contracts for five LNG carrier newbuildings and is rumoured to have ordered three additional LNGs from South Korean shipbuilder Samsung Heavy Industries (SHI). All eight vessels would be used for carrying cargo from Cameron LNG in the US. Of
Ferguson wins CalMac ferry order Glasgow-based Ferguson shipyard has won its first ferry contract since being taken out of administration by billionaire Jim McColl's Clyde Blowers Capital. Worth GBP12M ($19.5M) to the shipyard, the new hybrid ferry contract was awarded by the Scottish government. The vessel will be the third
EU adopts LNG bunkering directive European Union (EU) member states today adopted a directive for creating a basic LNG bunkering network at EU ports. Under the directive, member states must provide infrastructure for supplying LNG and other alternative fuels across the transport sector. After being adopted by ministers today, the
Spain faces EU court over security lag Spain will be taken to the European Union's Court of Justice for failing to implement the European security directive but may escape a fine through "good political will". The country is now six years over the 15 June 2007 deadline for Directive 2005/65/EC on enhancing port security - a security
BRS links up with Pareto Securities Paris-based shipbroker Barry Rogliano Salles (BRS) is to acquire Pareto Shipping, the shipbroking subsidiary of Oslo-based investment bank Pareto Securities. The takeover is part of a long-term co-operation agreement between BRS Group and Pareto Securities to facilitate investment banking and
Huanghai wins Dandong ro-pax order Chinese shipyard Huanghai Shipbuilding of Shandong has landed an order for a 1,500-passenger ro-pax ferry from compatriot shipowner Dandong International Ferry. Delivery of the 30,000gt, 4,700dwt newbuilding is scheduled for April 2016. The vessel is planned to operate between Dandong in China and
'K' Line pays $67.7M to resolve US anti-trust allegations Kawasaki Kisen Kaisha ('K' Line) has agreed to pay $67.7M fine to the United States Department of Justice to settle allegations of anti-trust law violations. Japan's third biggest shipping company, led by Jiro Asakura, had entered into a plea agreement and agreed to the fine to resolve allegations
GSI to dispose of four subsidiaries Guangzhou Shipyard International (GSI) plans to dispose of 100% stake in wholly owned Guangzhou Shipyard Industrial at a knock-down price of CNY973.8M ($158.5M). The decision to dispose its subsidiary is because the yard is preparing for an asset restructuring involving China State Shipbuilding
Hijacked products tanker identified The products tanker hijacked en route to Timor Leste was identified as Orapin 2, according to the report from Malaysian Maritime Enforcement Agency (MMEA). Initially, IRPC Public-owned Orapin 2 was underway laden from Singapore to Dili, Timor Leste. However, the 2,764dwt vessel was boarded and
Astomos Energy orders another VLGC Japanese LPG importer Astomos Energy has ordered another very large gas carrier, its fourth such order since 2013. In a statement written in Japanese, Astomos, which is Japan's biggest LPG supplier, said that the 83,000m3 VLGC would be constructed at Mitsubishi Heavy Industries' Nagasaki yard. The
CSSC Hong Kong sets up offshore engineering subsidiary CSSC (Hong Kong) Shipping, a ship-owning unit of China's shipbuilding conglomerate China State Shipbuilding Corporation (CSSC), has set up an offshore engineering subsidiary in Singapore to tap the international offshore resources there. The new company, named Rui Ling Offshore Engineering, has a
Coastal sells seven vessels for $136.2M Malaysia-listed shipbuilder Coastal Contracts (Coastal) has sold seven offshore support vessels (OSV) for MYR444M ($136.2M). The sales were done through its wholly owned subsidiaries Coastal Offshore (Labuan) and Thaumas Marine, strengthening the company's orderbook to MYR2.6Bn. Of this, the
South Asian shipbreaking market cautious ahead of Eid break Sentiment across major South Asian ship recycling markets turned cautious ahead of the Eid or Muslim pilgrimage period in mid-October. Although prices remained steady at $450-460/lt ldt for bulkers and $480-490/lt ldt for tankers, few sales were reported last week. Unusually frequent floods in
Ezion enters MoU in Port Melville Singapore-listed offshore services provider Ezion Holdings has entered into a memorandum of understanding with a multinational fuel trading and distribution company for the potential storage and distribution of fuel at Port Melville, Northern Australia. The project will be undertaken by Ezion
Nam Cheong sells three vessels at $41M Singapore-listed offshore services provider, Nam Cheong has sold three offshore vessels worth approximately $41M on the back of previous five vessels sales, bringing its orderbook to total around $126M in September 2014. One 5,150 bhp Anchor Handling Towing Supply Vessel (AHTS) was sold to Vega
India to drive tanker market India's still-growing population and its expanding refinery capacity would bode well for oil and products tankers over the long term, said tanker consultancy Poten & Partners. Statistics compiled by Poten & Partners show that India's crude oil imports rose to 3.8M barrels per day in 2013, up from
Bunker prices edge up after summer dip Bunker fuel prices in Rotterdam, a global indicator, held steady this week though the charge per metric ton is historically lower than in previous years. Both high- and low-sulfur bunker fuels have dropped significantly since June, but this week both rose 0.2 percent. The small uptick stops weeks of tanking rates...
ODFL expands drayage operations in Texas, Tennessee Old Dominion Freight Line expanded its fast-growing container drayage network, adding facilities in Dallas and Nashville, Tennessee. The fifth-largest U.S. less-than-truckload carrier now operates 22 intermodal drayage facilities across the U.S., from Oregon to Georgia. "We are delighted to open OD's first drayage facility in the state of Texas as well...
Total power costs, not just fuel prices, seen reshaping supply chains SAN ANTONIO, Texas - The United States is "awash in energy," as oil and shale gas production drive the U.S. and North America closer to what is sometimes called "energy independence." There's no guarantee, however, that fuel prices or the cost of power will be lower in the future, according...
Hamburg Sud gears up for growth at India's Mundra, Pipavav ports Ocean container carrier Hamburg Sud is opening a sales office in Gandhidham, India, to cater to the needs of its regular ship calls at the growing ports of Mundra and Pipavav. The new office, the liner's second in the state of Gujarat and fourth in India, will start operating on Oct....
Georgia port board takes steps to boost capacity On the back of yet another record-setting volume month at the Port of Savannah, the board of the Georgia Ports Authority is moving forward with measures to help the Savannah deal with the added volumes. August's volumes reflected the second record-setting month for the port, which has moved a combined 595,711...
Iran, Oman plan to launch shipping line to connect countries Iran and Oman plan to launch a shipping line to boost maritime trade between the two countries by the end of the year. Talks about the shipping line started six months ago, and the deal is expected to be signed in three months, Ali Akbar Sibeveih, the Iranian ambassador for Oman,...
Container ship sizes, transits, tonnage up in Suez The number of container ships passing through the Suez Canal is on an upward trend, after nearly three years of declining transit numbers because of rapidly increasing ship sizes. The number of container ships transiting the waterway declined 9.5 percent between the first eight months of 2010 and the first eight...
Maersk faces 'cascading' in north-south shipping routes Maersk is facing aggressive competition on its most lucrative north-south routes, which are being targeted by rival carriers seeking to offset losses from the overtonnaged Asia-Europe trade lane. "Our competitors have a lot of idle ships and are using them to move into the north-south routes," Soren Skou, Maersk's CEO, told...
Drewry: Trans-Atlantic spot rates stable, trade balanced Trans-Atlantic spot container rates have been relatively stable in recent months on both eastbound and westbound shipping routes between northern Europe and North America, according to Drewry Maritime Research. Though westbound trade from Europe to North America has seen impressive growth - July data shows container traffic reaching an annual high...
Pay hike, rate increases help Swift keep drivers A big hike in truck driver pay seems to be paying off handsomely for Swift Transportation. The number of Swift trucks lacking drivers has dropped about 20 percent from the end of the second quarter, and line-haul truck utilization has improved more than 3 percent, the largest U.S. truckload carrier said....
Ports of Antwerp, Houston to expand collaboration The Port of Antwerp is deepening its collaboration with the Port of Houston to include joint marketing and business development. The two ports will sign a memorandum of understanding when a delegation from Antwerp visits Houston later this week. Under the terms of the agreement, the ports will exchange information on issues...
India testing paperless documentation at ports Courtesy of DP World MumbaiA pilot program to test paperless customs documentation will be implemented at the Nhava Sheva Container Terminal for the next two months in an attempt to ease the India's congestion problem. The Economic Times reported all government-owned ports in India will eventually move to paperless customs documentation...
China invites Spain aboard China-Madrid rail plan Chinese President Xi Jingping on Friday invited the strong Spanish construction sector to help build a planned freight line connecting eastern China and Spain. The Chinese railway Yixin'ou plans to construct and operate a rail line from Yiwu, a major wholesale market, to Madrid, but there's much work to do, as...
Hapag-Lloyd, Maersk ship collision interrupts Suez Canal traffic A Hapag-Lloyd vessel dropped three containers into the Suez Canal on Monday morning after colliding with a Maersk Line vessel, interrupting a southbound convoy through the Egyptian waterway. The Colombo Express was sailing within a convoy when it collided with the Maersk Tanjong, which was clearing the Suez Container Terminal to...
Running out of options When Maersk Line in 2011 ordered 20 Triple E vessels capable of carrying 18,000 TEUs each, it marked a sea change in the container shipping industry. It was, after all, the first time a carrier placed an order for ships not to meet demand, which is still flagging in the...
Forwarders not impressed with loss leading contracts HONG KONG - Large forwarders are less inclined to accept loss leading business and will turn down contracts rather than supply transport services at below break-even levels, according to logistics companies with strong Asia Pacific business. Following recent comments by Kuehne + Nagel CEO Detlef Trefzger that the company would walk...
Transshipment growth keeps Busan August volumes above 1.5 million TEUs Busan Port handled 1.5 million 20-foot containers in August, its throughput growing 5.5 percent year-over-year on the back of strong transhipment volumes. Northeast Asia's biggest transhipment hub handled 12.19 million TEUs from January through August, the Busan Port Authority (BPA) announced in a statement. Last year Busan handled 17.7 million TEUs...
Jones Act giant sheds tug An affiliate of the world's largest Jones Act tank-barge operator has offloaded an aeging tug that is eligible to operate in the US cabotage market.
Scrap subsidies soar Another Chinese shipowner has taken advantage of a government-funded programme that offers financial incentives for operators that are willing to part ways with ageing tonnage.
EGLE gains altitude Shares of bankrupt US bulker operator Eagle Bulk Shipping soared in early trading Monday despite lingering fears about the near-term future of the dry-bulk market.
Heavy fine for Clydeport Scotland's Clydeport Operations has been fined for its part in a 2007 accident in which three men died.
Fredriksen buys GOGL bond John Fredriksen's Geveran Trading has bought an extra $10m slice of Golden Ocean's convertible bond.
Ferguson's first Scotland's Ferguson shipyard has won its first new order since being resurrected from administration by Jim McColl's Clyde Blowers Capital.
More VLCCs for CMES China Merchants Energy Shipping (CMES) has added another four VLCCs to its growing orderbook in China.
Sale boosts dividends Dividend distribution at GasLog is set to increase after a drop-down deal with a spin-off was finalised on Monday.
Data to lift dry spirits Jefferies has identified economic data from China that offers some hope for the dry cargo market.
Banks back Rongsheng Chinese shipyard group Rongsheng's lenders have backed its restructuring as the company brought in an asset valuation expert.
Ulstein seals design deal Norway's Ulstein has been awarded the design and equipment contract for a new subsea rock installation vessel (SRI), ordered by Van Oord.
Hapag, Maersk ships clash Two huge Hapag-Lloyd and Maersk Line container vessels collided in the Suez Canal on Monday morning.
CSDC gets scrap money China Shipping Development Co (CSDC) has seen its participation in a government scrapping project pay off after sending 15 vessels to the breakers' yards.
Fire hits P&O ferry Passengers were evacuated from a P&O ferry in Calais on Monday morning after a fire broke out on board.
Hong Kong in the streets Mass democracy protests and tear gassing have left Hong Kong shipping companies undisrupted so far, but many expect Wednesday's national holiday could fill the streets again.
Tankers heating up Weak rates may have put the brakes on dry cargo ship sales but demand for crude tankers is running hot.
Ex-yard boss charged The former CEO of China's Hudong-Zhonghua Shipbuilding will face charges in a bribery case.
Iran-Oman initiative A new shipping line between Iran and Oman is under discussion as the two countries enter into advanced negotiations on boosting maritime trade.
Algoma bulker damaged An Algoma bulker has been damaged after hitting the side of the Welland Canal in Canada.
EMAS targets $36m Ezra-backed EMAS Offshore is looking to raise SGD 58.79m ($36.31m) from its secondary listing in Singapore.
Xinhe clinches dredger Tianjin Xinhe Shipbuilding of China has won a dredger newbuilding contract from Pakistan.
Helgesson joins Concordia Stena Line finance chief Ola Helgesson is shifting seats to tanker sibling Concordia Maritime.
Another fine for K Line Japanese shipowner K Line has been hit with a $67.7m penalty in a US ro-ro antitrust case.
Mitsui inks LNG quintet Japanese trader Mitsui & Co has finalised time-charter contracts on five of the LNG carrier newbuildings tendered for in an eight ship project for tonnage to lift its cargoes from Cameron LNG in the US.
Torm finds second solution Oaktree Capital and its fellow Torm lenders have stepped up with a restructuring package for the Danish tanker owner.
Dandong seals ro-ro order China's Shandong Huanghai Shipbuilding has won an order for a new ro-pax to operate on a route to Korea.
Astomos returns to MHI Astomos Energy Corporation has returned to Mitsubishi Heavy Industries for its third VLGC newbuilding in less than a year.
Five more years Norway's AKOFS Offshore has won a five-year charter extension for a subsea support ship in Brazil.
NCL takes BBR stake Nam Cheong Ltd (NCL) is to take a 30% stake in an enlarged PT Pelayaran Nasional Bina Buana Raya (BBR).
Navig8 takes eco pair Navig8 has cemented a deal to acquire two 49,000-dwt 'eco' design chemical tankers under construction in Vietnam.
MISC loan gets S&P rating MISC's recent $1.55bn syndicated loan facility has been given a 'BBB' long-term issue rating by Standard & Poor's (S&P).
Navigation software features AWT systems Gathers and overlays all the data maritime navigators require, says firm.
IBIA Convention 2014 - Quality and Compliance Special deal available for Bunkerworld readers to early November event in Hamburg.
Industry airs concern as ECA deadline approaches Swedish metal producer says it is facing a 'very serious situation'.
MFM accuracy can be better than MPA requirement Checks conducted by ExxonMobil shows much better accuracy than uncertainty allowed for in industry standard.
UK shipyard gets new orders Ferguson shipbuilders taken out of administration.
EU rules could accelerate emergence of LNG bunker market Commissioner claims regulations provide 'long-awaited legal certainty for companies to start investing.'
Unmanned ships could trigger changes in maritime law 'Existing regulations assume ships have crews onboard.'
Gunvor profits fall But 'core profit' is up.
UAE highlights Fujairah's potential as global energy hub Port's strategic position is key to its development, says minister.
New Fujairah-based bunker storage terminal to start ops by year end First phase to be ready by November, majority investor tells Bunkerworld.
UK shipowner buys 'eco' twin Vessels due for delivery next year.
LNG bunker demand to triple by 2025, study says Researcher upbeat on LNG bunkering prospects.
Baltic LNG bunkering project gains industry support 'Extensive network' of LNG-bunkering ports being planned for region, says BPO head.
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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