Surge in US imports points to early peak season June volumes up 6.9% as shippers seek protection against west coast instability
Greeks sense the time is right for containership swoop Trio of owners unveil growth in boxships
'You can't be in this business if you're not an optimist' US export opportunities drive d'Amico onwards
Soft spot rates take their toll on Safe Bulkers' second-quarter results Sluggish market drives down average daily vessel earnings
Scorpio Bulkers posts $15m net loss US-listed newcomer announces $67.5m loan
Finland mulls new green aid to shipowners Helsinki assesses package to create more eco-friendly ships
European Commission notified of Hapag-Lloyd/CSAV merger Brussels invites observations within next 10 days
View from the Bridge: Grant Daly Safmarine chief executive Grant Daly explains the importance of service differentiation
Pan Ocean posts $303m second-quarter profit Former STX affiliate continues strong performance
D'Amico hit by challenging second quarter product tanker market Nevertheless, longer-term prospects remain bright for this tanker sector
Dorian LPG sets up VLGC pool with Phoenix Tankers Consolidation comes as VLGC market offers exciting prospects
Strong year anticipated for North European box volumes Container traffic forecast to rise nearly 6% to 42.2m teu
CMA CGM warns of US congestion surcharge French carrier will implement price increases should industrial action break out at US ports
APM Terminals goes global Bigger ships drive the need for higher productivity in strategy switch-up
Going against the grain Experts question tough new GM and pesticide rules after bulk cargoes held in China
Major forwarders continue to grow ahead of market Investment bank expects the trend to continue
Fracking casts new doubt over future UK LNG imports Onshore licences offered this week to energy firms will reshape future shipments
Industry viewpoint: Why marine cleantech companies take the biggest risks Retrofitting will become more popular as hesitancy dwindles, predicts Oceanfoil
Hyundai posts its worst-ever quarterly results Builder will tackle its woes by renegotiating orders and restructuring business and staff
Hanjin Shipping narrows its second-quarter net loss South Korean operator reduces its exposure by 'rationalising' its routes
Scorpio Bulkers tacks on newbuilding NYSE-listed Scorpio Bulkers has reported more losses but confirmed another newbuilding contract, bringing its orders up to 80. The Emanuele Lauro-led company confirmed on 30 July that it will pay $31.4M for a 61,000dwt Ultramax to be delivered by Japan's Imabari in 1Q16. The newbuilding (Hull
Dorian to pool VLGCs with Phoenix NYSE-listed Dorian LPG has announced the creation of a new VLGC pool with MOL subsidiary Phoenix Tankers. The new pool will commence operations on 1 January 2015. Phoenix currently manages 11 VLGCs under a pooling agreement, while Dorian operates four VLGCS and has 18 newbuildings scheduled for
Anti-pirate security hit by rate plunge A fall in private security rates could raise risks for commercial shipping in the Gulf of Aden, a security analyst has warned following the collapse of Gulf of Aden Group Transits (GoAGT). The analyst, who declined to be identified, confirmed that the UK-based security company had closed and said
Alang breakers approach certification Four Indian ship-recycling yards in Alang in Gujarat have completed the first phase of an international standard certification process. The yards, belonging to Shree Ram Group of Industries, Leela Ship Recycling, RL Kalthia Ship Breaking, and Priya Blue Industries, are now starting Phase II of
Sumitomo secures 4th Lundqvist Aframax Japan's Sumitomo Heavy Industries shipyard has signed contracts to build an Aframax tanker for Lundqvist Rederierna AB. The 105,000dwt medium-sized crude oil tanker is Lundqvist's fourth on order at the yard and its final option to be converted. This latest order is set for delivery in May 2016. The
Adani gets green light for mega mine The Australian federal government has given Adani the go ahead to develop what will be Australia's biggest mine ever - Carmichael in Queensland's Galilee Basin. Spanning 200km², and pumping 60M tonnes of coal out of Abbot Point annually, the $15.3Bn mine is projected to power homes of 100M people in
DP World Australia threatens lockout DP World Australia said today it would lock out dock workers at its Fremantle terminal indefinitely and subcontract their work to rival stevedore Asciano. The announcement follows the announcement of a four-hour stoppage on Thursday by the union for the terminal's dockers. Adrian Evans, Maritime
Hanjin Shipping's 2Q loss widens Hanjin Shipping, which has been undergoing restructuring to avert a liquidity crunch, unveiled wider 2Q losses today. South Korea's biggest shipping company posted a net loss of KRW200Bn ($194.7M) for 2Q14, compared to a KRW80.4Bn loss in 2Q13. Hanjin explained it incurred a net loss due to the
HMD widens losses in 2Q Hyundai Mipo Dockyard (HMD) has recorded a 2Q14 net loss that was worse than analysts' estimates. The mid-tier shipbuilder, known for building products tankers and medium gas carriers, incurred a KRW204Bn loss, compared to a KRW129Bn loss in 2Q13. KDB Daewoo Securities analyst Ki-jong Sung of
Princess orders at Fincantieri Princess Cruises has placed an order at Italy's Fincantieri for a 143,000gt, 3,560-passenger newbuild for delivery in 2017. The all-in cost is 600M euros, which at current exchange rates equates to around $804M or $226,000 per lower berth. The new ship will be a sister to the 2013-built Royal
Misclassified nickel ore causes concern The Japan P&I Club has cautioned its owners against transporting nickel ore cargoes that are deliberately classified as iron ore to evade the Indonesian government's export restrictions. In a circular to its members, the Japan P&I Club said: "The club has been advised of two cargoes of nickel ore
Record loss for HHI The 2Q14 loss that Hyundai HI (HHI), the world's biggest shipbuilder, posted yesterday was its worst ever performance. HHI had a net loss of KRW616.6Bn ($600.2M) and an operating loss of KRW1.1Trn in 2Q14, a result that shocked investors and analysts. The shipbuilder's poor performance was
SITC estimated to be pressured by lower spot rates Hong Kong-listed SITC International Holdings, an intra-Asia box carrier, is estimated to have its profits affected by the recent 25% drop in China-Japan box spot rates since April, a research note of CIMB Securities said. CIMB has cut core EPS forecasts for SITC by 9% over 2014-16 to reflect more
SSC eyes new vessels delivery for better earnings Singapore-listed Singapore Shipping (SSC) suffered a 20.1% dip year-on-year to $7.28M for the first quarter of 2015. Similarly, its profit before taxation fell 7.2% y/y to $1.81M, followed by a drop of 7.5% to $1.81M from $1.95M in its net profit. The lower earnings were mainly due to MV Singa Ace's
China crude steel production up in 2014 China's crude steel production rose 3% year-on-year (y/y) to 411.9M tonnes in the first half in 2014, with the growth rate down 4.4 percentage points, according to the China Iron and Steel Association. The growth was in line with the association's forecast that China's crude steel output will grow
China's shipbuilding output drops in 1H Chinese shipyards recorded a total output of 17.43M dwt in the first half of 2014, a decrease of 15.4% year on year, stated China Association of the National Shipbuilding Industry (CANSI) on Monday. The drop was attributed to the unwillingness of shipowners to accept newbuildings and major Chinese
Weak bulker freight market hits secondhand deals The slack dry bulk freight market has impacted investors' sentiment in the secondhand bulker market. Statistics compiled by Greek broker Golden Destiny showed that the number of secondhand bulker transactions fell 24% year-on-year in June. Last month, 31 dry bulk carriers changed hands, compared to
HMM looks to narrow 2Q operating loss Hyundai Merchant Marine (HMM) is expected to report a lower operating loss quarter on quarter and year on year in 2Q14, said KDB Daewoo Securities in a research note. KDB Daewoo Securities forecasted HMM, South Korea's second-biggest shipping company, to report a 2Q operating loss of KRW36Bn($35.2M)
ABS signs MoU with MPA The American Bureau of Shipping (ABS), global marine and offshore classification services provider, has signed a memorandum of understanding with the Maritime and Port Authority of Singapore (MPA) to promote research and development (R&D) and innovation. Under the MoU, ABS and MPA will collaborate
Bearish outlook for Precious Shipping CIMB Research has maintained a reduce call on drybulker Precious Shipping's (PSL) stock in a 27 July note. "PSL's 1H14 core net profit of THB136M ($4.3M) was below expectations at just 22% of our previous full-year forecast, as the freight rate and daily operating cost fronts disappointed," the note
Westports' profits up as box throughput surges Port Klang's main terminal operator, Westports Holdings, has posted a 2.4% year-on-year increase in 2Q/2014 net profits to MYR122.5M ($35.4M) on the back of a 14% container throughput increase to 2.09M teu. The strong box market saw Westports handle 4.02M teu in 1H/2014, up 12.9% and led by
No contract? No problem - yet As of today, July 30, there is no U.S. West Coast longshore agreement in place, a month after the previous six-year pact expired. In any contract year, the time between expiration and agreement is especially volatile, because the risk of cargo-disrupting labor actions is at its highest. It's the reason...
Poor rail service led shippers to shift loads to highway: C.H. Robinson More shippers contracting with C.H. Robinson Worldwide shifted loads from railroad to highway in the second quarter after seeing intermodal rail service deteriorate. The Minneapolis-based company said intermodal rail service incrementally improved in the second quarter compared with the first three months of the year, but it expects rail service to...
XPO to buy contract logistics provider, raises revenue target XPO Logistics will add more than half a billion dollars in revenue to its top line by acquiring New Breed Logistics for approximately $615 million, the company said yesterday. The deal adds a major contract logistics provider to XPO's growing portfolio of multi-faceted companies. XPO raised its projection of its annual...
Hanjin loses big, but cost-cutting efforts start to pay off Hanjin Shipping posted a net loss of $194 million in the second quarter, but the weak financial performance was eased by aggressive cost cutting in its container division that managed to lift the Korean carrier's operating profit. The line's container shipping unit recorded an operating profit of $36 million as it...
How Anne Ferro changed trucking In five years as Federal Motor Carrier Safety Administrator, Anne S. Ferro has changed trucking. Like them or not - and many in trucking really, really don't - the programs and rules implemented during her tenure at the FMCSA are reshaping an industry slow to embrace change. Since 2009, her agency...
Treasury Secretary asked to review Gulftainer's Port Canaveral deal WASHINGTON - A U.S. House Republican has asked Treasury Secretary Jack Lew to review whether the granting of a 35-year container terminal concession at Florida's Port Canaveral to United Arab Emirates-based port operator Gulftainer will impact national security. The deal - in which Gulftainer will spend about $100 million on a...
US Congress in last-minute showdown on highway funding WASHINGTON - U.S. House and Senate leaders have less than three days to work out their differences in seeking a short-term patch for the main engine of federal highway construction. The question is whether both sides will reach a consensus on replenishing the Highway Trust Fund before legislators take a month-long...
Rising trade will lift rates, but not for long, analysts say Expectations of a solid peak season from Asia to both Europe and North America could lead to higher ocean container freight rates in the third quarter, but the gains are likely to be only temporary. Market watchers have little confidence in a sustained improvement as ocean carriers struggle against an...
Drewry spot rates stay steady before August GRI Drewry's benchmark spot rate from Hong Kong to Los Angeles remained at $1,800 per 40-foot container for a second week. Full-size chart In a now familiar pattern, trans-Pacific spot prices held steady ahead of another general rate increase after dropping precipitously following the previous hike. Drewry's benchmark spot rate from Hong Kong to...
Chilling ideas Residents of Loudonville, Ohio, (population 2,623) honored native son Charles F. Kettering in June, dedicating a statue of the inventor in the town's park. Kettering was born in 1876 and died in 1958, so unless you're from the greater Loudonville metropolitan area, his name probably isn't familiar. His myriad inventions certainly...
ARC Advisory Group Ranks Manhattan Associates "Worldwide Leading Supplier of Warehouse Management Systems" ATLANTA, July 30, 2014 (GLOBE NEWSWIRE) -- Supply Chain CommerceSolutions provider Manhattan Associates, Inc. (Nasdaq:MANH) announcedtoday that it has been ranked as the global leading supplier of "TotalWMS Software and Services" in ARC Advisory Group's "WarehouseManagement Systems Global Market Research Study, Market Analysis andForecast Through 2018. "In the report ARC Advisory...
Port of Oakland Announces Christopher Boucher as Director of Human Resources Boucher brings expertise in recruitment, labor relations, training and development Oakland, Calif--July 29, 2014--Port of Oakland Executive Director Chris Lytle announced Christopher Boucher as the Port's new Director of Human Resources. Executive Director Chris Lytle said, "I'm very pleased to have Christopher join us. His expertise will help us enhance our workforce...
Transplace Expands Focus on Automotive Sector Experienced Logistics Leader Bill Miller Joins Transplace to Advance Automotive Vertical Growth July 29, 2014 (Dallas, TX) - Transplace, a leading provider of transportation management services and logistics technology solutions, today announced the appointment of Bill Miller as vice president, automotive. The addition of Miller further supports the company's continued investment in...
DACHSER USA OPENS ST. LOUIS OFFICE TO SUPPORT GROWING MIDWEST MARKET ATLANTA (July 28, 2014) - Dachser Transport of America Inc. (Dachser USA), one of the leading global logistics services providers, opened their St. Louis office to support the company's continued expansion in the Midwest. The new office is conveniently located in the St. Louis Customs Building across from Lambert International Airport....
Port of Oakland Announces Christopher Boucher as Director of Human Resources Boucher brings expertise in recruitment, labor relations, training and development Oakland, CA-July 28, 2014- Port of Oakland Executive Director Chris Lytle announces Christopher Boucher as the Port's Director of Human Resources. Executive Director Chris Lytle said, "I'm very pleased to have Christopher join us. His expertise will help us enhance our workforce and...
Sweeper ships sent to clear clogged Manila port Skyline of ManilaManila's choked container port will finally have some relief as sweeper ships arrive to clear the thousands of empty boxes clogging the city terminals. The first ship arrived last week, arranged by the Philippines' Association of International Shipping Lines (AISL), and loaded about 3,000 TEUs of the estimated 22,000...
DSV posts market-beating volume growth as logistics sector consolidates DSV today became the latest top 10 freight forwarder to post market-beating growth in ocean container traffic as the consolidation of the fragmented global logistics industry gathers pace. The Danish group's container traffic grew 9 percent in the second quarter to 216,044 20-foot equivalent units, outpacing market growth between 3 and...
Baltic Trading loss grows Baltic Trading reported a 22.7% increase in its quarterly loss even as fleet growth push revenue higher.
US sanctions USC The US Treasury Department has added Russia's United Shipbuilding Corp (USC) to its list of sanctioned entities.
Pool prompts speculation A growing number of industry forecasters believe a merger between Dorian LPG (Dorian) and Norwegian compatriot Avance Gas is no longer likely.
Varela's AMP team unveiled The Panama Maritime Authority (AMP) has announced its leadership team after the swearing in of the country's new President, Juan Carlos Varela.
Shanghai Beihai on the block China Shipping Tanker lifts stake under broader bid to enhance relations with CNOOC.
Princess returns to Fincantieri An Italian shipbuilding conglomerate has secured a EUR 600m ($802.6m) contract to construct a cruiseship for Princess Cruises.
SALT clinches cash Scorpio Bulkers of Monaco has firmed up a $540m loan facility that will be used to finance some of its newbuildings.
Stifel endorses DSX A leading Wall Street equity analyst is encouraging investors to accumulate shares of Greek bulker owner Diana Shipping.
DIS set for profit d'Amico International Shipping is hopeful of recording a full year profit after returning to the black in the second quarter.
Giants form VLGC pool Dorian LPG has joined forces with Mitsui OSK Lines (MOL) division Phoenix Tankers to establish a VLGC pool.
Japan sees bulker surge Japanese yards saw a surge in bulker orders last month despite the deterioration in sentiment towards the dry cargo market.
Signs of life at Pan Ocean Pan Ocean has posted a $303m net profit for the second quarter of 2014 as it continues its post-restructuring recovery.
BEE buys Grindrod stake A consortium led by Johannesburg based Brimstone Investment Corp has completed acquisition of a 8.4% stake in Grindrod, the South African shipping and logistics group.
Fednav bulker refloated A Fednav handysize bulker that had been aground near the US city of Detroit since Sunday has been refloated.
Hanjin losses grow Hanjin Shipping has seen a further deterioration in its financial performance with a large loss in the second quarter.
XPO spends $650 million on two acquisitions During the second quarter, XPO Logistics' revenue shot up 323.8 percent, year-over-year, to $581 million, though it recorded a net loss of $13.8 million, which is a year-over-year improvement of $3.6 million.
Hanjin reports loss, less revenue in second quarter
U.S. GDP grew 4% in 2Q
Hamburg Süd opens Nanjing office
C.H. Robinson revenues up 6.5% in Q2
Navios Partners buys two more containerships The company said it has sufficient cash on its balance sheet to fund the total acquisition cost; however, it may elect to finance part of the purchase price with debt financing at terms similar to its existing debt facilities.
Port of San Diego replaces chief executive
Senate passes amended highway bill extension The legislation originally was tailored to run through May to give more time to agree on a long-term bill that identifies new funding streams to supplement the Highway Trust Fund, which is supported by a per-gallon fuel tax.
ICAO to develop war-zone aviation safety measures
BIS: Export reform means more compliance responsibility
Grant moves 3 Port Manatee security projects forward
Carrier Transicold system extends perishables' freshness in transit
Senators oppose import quotas on Mexican sugar For years, Jeanne Shaheen, D-N.H., and Pat Toomey, R-Pa., along with Sen. Mark Kirk, R-Ill., have led a bipartisan effort to reform the U.S. sugar program, which has cost consumers an estimated $14 billion since 2008.
Military Sealift Command employee sentenced for bribery
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