Attica reduces its annual loss Ferry owner attributes result to growth in traffic, cheaper fuel and better deployment
Cosco to order five 14,000 teu ships and deepen ties to China Shipping Group Chairman Ma says carrier aims to learn from Maersk Line's fiscal example
OW Bunkers lists in Copenhagen Danish fuel supplier is part of shipping service provider the Wrist Group
Asia Container Terminals divestment boosts PSA annual profits Singapore ports giant reports 6% volume growth from its overseas ventures
Eastern Europe uncertainties hit HHLA Chief executive says Hamburg port operator could suffer from Russia sanctions
Wan Hai reports 16% annual profit growth Intra-Asia specialist reports a 5% drop in revenues but also in costs
Swedish Club reports $17m surplus in 2013 Results reflect a positive underwriting year and strong investment earnings
Carriers push Asia-Europe freight rates over $1,000 per teu Prices almost double on the Asia-South America trade but fall on Far East-US route
Two creditors sell Berlian Laju Tanker loans to KKR Chembulk's Noonan takes global role, as BLT faces better prospects in chemical tanker sector
More and more eggs in ever-bigger baskets Ever-larger containerships pose a tricky proposition for salvors
The Week on Wall Street | March 28 Free to read: Shipping news and gossip from America
Exclusive Lloyd's List sulphur survey reveals growing trust in technology Findings show some owners favour scrubbers but others may turn to more expensive LNG
Vessel sinks following collision off Japan The Japan-flagged cement carrier Sumise Maru No. 38 (IMO: 9054200) that collided with Japan-flagged chemical tanker Kaisei Maru (IMO: 9560431) off Himeji, Japan on Wednesday sank three hours after the incident
Haixun 01 to hunt for MH370 debris Chinese Maritime patrol ship Haixun 01 will tomorrow seek to recover objects sighted by search planes late on Friday AEST during the hunt for the wreckage of Malaysia Airlines MH370
Strong start for OW Bunker shares Shares in OW Bunker, the Danish bunker supplier that went public in Copenhagen today, started trading on a firm note
Vancouver trucker strike ends Truckers at Port Metro Vancouver returned to work on 27 March after an agreement was reached over rates of pay and waiting times at the port's four container terminals
Swedish Club saw underwriting profit in 2013 The Swedish Club, the Gothenburg-based P&I club, has announced its underwriting business returned to profit last year, while surplus and free reserves increased as well
MH370 search moves shifts north The air and sea search for the wreckage of flight MH370 shifted closer to the coast of Australia today
E.ON seeks partner among South Korean shipbuilders German energy firm E.ON is in talks with four South Korean shipbuilders for an LNG carrier, the company's CEO said on Tuesday
China COSCO back to black China COSCO returned to profits of CNY235M ($39M) in 2013 after disposals of its non-core businesses
Growing LNG demand faces facility challenges The need to meet growing energy demand, especially LNG, is being tested by the challenges in building production facilities, Gastech 2014 was told yesterday
BMT designs jetty to facilitate Petronas project Maritime consultancy BMT Asia Pacific has completed a concept design for the material off loading facility (MOLF) at Petronas' proposed refinery and petrochemical integrated development (RAPID) complex in southeast Johor, Malaysia
Sound and Fury at NY-NJ Port Combine several hundred longshoremen on a work break with energetic speakers using microphones they don't need, and you get a lot of noise. There was plenty of that at a Port Newark rally on March 25. Dockworkers cheered lustily as a parade of speakers took turns blaming the Waterfront Commission of...
Ocean Carrier Rate Revision Roundup for March 28 Multiple carriers have planned rate increases in various trade lanes in April and May, although any gains achieved could be fleeting as overcapacity and lackluster global demand continues. However, according to investment firm Jefferies, the container shipping industry's supply and demand gap is narrowing this year, which will help carriers improve...
China's Two Largest Container Lines Continue to Suffer The two largest Chinese container lines have more reason to work together after they both continued to suffer from overcapacity and modest demand in 2013. Although China Cosco Holdings swung to a profit in 2013 with the help of asset sales, removing the risk of being delisted, its core shipping operations...
Labor, Chassis Put West Coast Ports Under Microscope With nerves fraying about upcoming talks between waterfront employers and the International Longshore and Warehouse Union, with memories fresh of jurisdictional issues that have led to sporadic protests in the Pacific Northwest and with chassis shortages causing long delays at Los Angeles-Long Beach, West Coast ports are as exposed as...
Zim CEO in Bullish Mood Despite $530 Million Loss For someone who's just unveiled a whopping $530 million net loss for 2013, Zim Integrated Shipping Services' chief executive Rafi Danieli appears to be in an outlandishly bullish mood. The Israeli ocean carrier will be among the most profitable in the industry within five years, Danieli claimed just hours after revealing...
Shipowners Hope Low-Sulfur Fuel Deadline Gets Extended Staring at an incremental bill for low-sulfur fuel estimated at $75 to $100 billion per year for container ships beginning in 2020, container lines are hoping that implementation will get pushed back to at least 2025. Under MARPOL Annex VI, sulfur oxide, or SOx, content in marine fuel was reduced globally...
SCFI: Asia-Europe Rates Rise Ahead of April 1 GRIs The SCFI for North Europe rose 44.0 percent in the week ending March 28. Full-size image Spot container freight rates from Shanghai to northern Europe and Mediterranean ports measured by the Shanghai Containerized Freight Index jumped in the week of March 28, only a few days before general rate increases set for...
Ukraine Crisis Could Hit 2014 Traffic, Financial Performance, HHLA Warns HHLA, the port of Hamburg's largest container handler, warned the crisis in Ukraine threatens to slow its important Russian feeder traffic and impact this year's financial performance. The Port of Hamburg had 32 weekly feeder connections to Russia in 2013. Full-size map The company said an 8.3 percent rise in Baltic Sea feeder...
FedEx Founder Opens Up About Opportunities for Growth Frederick W. Smith, FedEx chairman and CEO.Frederick W. Smith launched more than a company when he founded FedEx in 1973; he created an air express industry that has been crucial to the growth of global trade. Over the decades, FedEx has expanded to embrace ground parcel, trucking and, through FedEx...
Judge rejects seizure A US federal judge has rejected an effort by Italian owner Michele Bottiglieri Armatore to seize a bulker as part of a three-way arbitration fight.
Ship Finance may nix duo Ship Finance International may tear up its remaining two newbuilding contracts at Shanghai Shipyard due to delays.
Chemical changes coming Chemical tanker owners have been urged to prepare for changes to trading patterns as China aims for greater self-sufficiency.
Avance shows its hand Avance Gas has laid out firm details of its IPO which will see shares worth up to $250m sold.
BW tipped for VLCC strike BW Maritime of Singapore may be looking to add Metrostar's six VLCCs to its takeover of the Greek company's MR newbuilding fleet, but it appears to have competition.
Fednav takes to the air Canadian bulker owner Fednav claims to have become the first shipping company to use drones to check ice conditions in northern waters.
WW in $133m bond move Wilh Wilhelmsen has collected over $130m after becoming the latest shipowner to tap the Oslo bond market.
Titanic trouble? Steel-cutting on Australian tycoon Clive Palmer's Titanic II cruiseship has still not begun in China.
Titan faces more losses Restructuring FSU operator and bunker supplier Titan Petrochemicals has warned of a big deficit looming in delayed interim results for 2013.
No future for shipping? We take a look at what was said in the market over the past week.
Avance nets $450m Avance Gas has secured a $450m loan which will cover both existing ships and the first of its newbuildings.
Wan Hai profit slips Higher costs and lower revenue curtail Taiwanese container line in 2013.
Euronav firms $500m loan Euronav has signed a final agreement on a $500m loan which will help pay for 15 VLCCs bought from Maersk Tankers.
Sales lift PSA Singapore's PSA International raised its bottom line by 13.4% last year thanks mainly to asset disposals.
Bridge bash row settled Owner of tanker Harbour Feature agrees to pay $1.3m for New Hampshire accident.
Coastal hooks five Coastal Contracts of Malaysia has reeled in new shipbuilding contracts for five offshore support vessels and is close to clinching its first order for a jack-up drilling rig.
Cosco losses to return? With the ink still wet on its first annual profit in three years China Cosco is already being tipped for a resumption of red numbers in 2014.
Russian duo held Two VTS-Trans cargoships have been detained in Azerbaijan over technical faults and unpaid fees.
Suez Canal eyes record The Suez Canal's revenue is expected to reach a record high in its current financial year.
OW Bunker hits the Street OW Bunker saw an immediate jump in value today as the stock landed on the Nasdaq OMX in Copenhagen following its IPO.
OSG chases $450m TradeWinds digests the digits making the headlines this week.
Conti holds fire Germany's Conti Reederei has yet to declare any of its 12 ultramax options at China's Jiangsu Hantong shipyard.
Pallas ship refloats A Swedish cargoship has suffered a hull gash after grounding off Norway.
Is it a plane? No, it's a ship News organisations around the world flew into newsflash mode on Thursday, claiming a plane had crashed off the Canary Islands.
Morning Glory's story The captain of Morning Glory has revealed how he and his crew were coerced into loading crude at a rebel-held Libyan port by 35 armed militiamen.
Double piracy scare Two tankers have been targeted by suspected pirates in as many days off the coast of Somalia, it has emerged.
Hansen joins Milestone Tom Hansen has resurfaced in a top shipping post in Singapore as chief operating officer at Milestone Chemical Tankers.
EQT buys StormGeo EQT has acquired a majority stake in StormGeo in a deal that also sees DNV GL increase its stake in the Oslo-based company.
Vopak in Canada move Royal Vopak has expanded its footprint in Canada with the acquisition of two distribution terminals.
Seaspan sets notes price Seaspan Corp has set the price on a notes offering that could raise gross proceeds of $345m for the New York-listed containership owner.
Range set on $250m IPO Avance Gas is poised to announced the pricing range of what will be a $250m initial public offering on the Olso Stock Exchange, the chief executive of a major shareholder said today.
NEWSFLASH: Chairman of NY/NJ Port Authority resigns David Samson, the chairman of the Port Authority of New York and New Jersey, has resigned, effective immediately, said New Jersey Governor Chris Christie on Friday afternoon.
China Shipping reports loss for 2013 Sluggish demand and increased capacity "led to a notable mismatch between supply and demand," and freight rates on main trade lanes "showed no substantial recovery and continued to fluctuate at low level," the company noted.
PSA profit rises 13% in 2013 PSA's revenue rose 3.3 percent, year-over-year, to $3.7 billion on volume that increased by 2.9 percent to 61.8 million TEUs. When adjusted for port portfolio changes, PSA's like-for-like volume growth over 2012 was 4.6 percent.
Port Iquique seeks investors for terminal expansion The project at the port in northern Chile, which calls for the construction of a third berth and the expansion of another, will cost upward of $350 million. Iquique is located in the Tarapaca region, about 1,118 miles from Santiago.
Canada addresses marine, rail tanker safety
New NC port authority head is ex-Maersk exec
MOL expands New Delhi warehouse
MOL meets majority of internal KPI targets in February
Business park breaks ground near Savannah port
Engine importer reaches agreement with EPA The company will pay $630,000 in civil penalties and post a $300,000-to-$500,000 bond to satisfy any future potential penalties related to the import of model year 2014, 2015 and 2016 vehicles.
Weekly Global Market Report A weekly price roundup from bunkering hubs around the world.
Unclear fuel price direction in Houston Average demand reported at the US Gulf port on Friday.
Repsol to expand bunkering ops in Singapore Plans to hire one or two new bunker traders by year-end.
Report: Shipping confidence hits highest level since 2008 Survey reveals 'compelling evidence that a sea-change is set to take place in connection with shipping finance', says Moore Stephens.
Crewmember injured during bunkering ops in Singapore Face struck by hose's quick release connector.
Prices edge up across most markets Some improvement to supply at Cape Town.
Crude gives bunkers a boost in most markets Most price gains were close to double digits.
Survey gives filip to scrubber manufacturers Owners likely to go for technological solution to meet tougher sulphur cap.
SGMF: Access to supply key to LNG's wider use Industry adoption slow, but it will happen, says group.
OW Bunker: Share price rises on strong demand First day's trading price around DKK 20 above offer price.
Prices mixed across Asian hubs Hong Kong players preparing for supply switch from MGO to LSMGO.
OW Bunker lists at Copenhagen Bunker company makes IPO reality on strong demand for stock.
Asia's LNG pricing set to fall over long term 'LNG prices across the globe will start to converge towards a natural lower level,' says Rolls Royce executive.
Kogas starting LNG bunkering project this year Company looking into development at South Korean ports of Busan, Incheon and Pyeongtaek.
Bunker demand in China shifts towards East Fuel oil exports at Shanghai topped other ports.
ICC: Be alert to oil scams Fraudsters capable of producing 'extremely credible documents'.
Navy bunker tanker to be upgraded In contract worth over $8 million.
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