Van Oord wins EUR100 million Dubai contract Dutch dredging and offshore giant Van Oord will return to Dubai at the end of this year to create an entirely new waterfront for the Deira Islands that it built for developer Nakheel between 2005 and 2008. Valued at EUR100 million, the new contract has again been awarded by Nakheel. Speaking to IHS
Chinese Prime Minister to visit CMA CGM Prime Minister Li Keqiang will lead a ministerial delegation to French shipping giant CMA CGM Group's iconic Marseilles HQ tomorrow and conclude two major economic agreements. Under the first, Chinese shipyards will deliver three flagship 18,000 teu container vessels to CMA CGM during the latter
IMO elects South Korea's Ki-tack Lim to top post South Korea's Ki-tack Lim, president of the Busan Port Authority, has been elected as the new secretary-general of the International Maritime Organization (IMO). He will take the helm from incumbent, Japan's Koji Sekimizu, on 1 January 2016, for an initial four years. Ki-tack Lim served as the
DryShips divests final tankers NASDAQ-listed DryShips has sold its remaining six tankers to founder and chief executive officer George Economou, concluding a sale process that began in March. On 30 June, DryShips confirmed that Economou exercised his options to purchase six Aframaxes - the Alicante, Belmar, Calida, Daytona ,
Two more rigs booked at Huangpu Wenchong China's Huangpu Wenchong shipbuilding yard has been contracted to build a further pair of jack-up rigs from a returning customer. Hong Kong-listed TSC Group has ordered, through it daughter company Alliance Offshore Drilling (AOD), two Zentech-designed R-550D jack-up drilling rigs with deliveries
Offshore wind terminal plans kick off on MV2 Sif Group, an offshore foundations manufacturer, and Verbrugge International, a logistics service provider, have signed an agreement in principal with the Port of Rotterdam Authority for the construction of a production and storage/handling terminal. This is to better serve the North Sea's emerging
Ferry strike adds to Greek woes Ferry services in Greece are being disrupted today as the result of a 24-hour strike called by the Pan-Hellenic Seamen's Federation (PNO). The union claims that some shipping firms have violated collective labour agreements. PNO has called on seafarers aboard Greek-flagged ferries to take
Samsung HI clinches Statoil platform orders Samsung Heavy Industries (SHI) has clinched orders for Statoil's Sverdrup Topside project, as analysts predicted. South Korea's second biggest shipbuilder said in a Korea Exchange filing on 30 June that it has clinched two platforms related to the project. The contract is worth about USD1.05
Update: Port of Calais still closed to all ferry traffic Ferry traffic at the French port of Calais was at a total standstill this morning as action by MyFerryLink crews protesting over the cessation of the company's activities went into a second day. The crews, who belong to the employee cooperative SCOP SeaFrance, were meeting this morning to discuss
CH Offshore receives USD60 million from charter dispute Singapore-listed offshore services provider, CH Offshore, has recouped USD60 million from unpaid charter fees from Venezuela's state-owned PDVSA's subsidiaries. CH Offshore stated in its filing to the Singapore Exchange that the company has received the outstanding USD60 million from PDV Marina and
Tanker, box ship collide near Tanjung Perak Port A liquefied petroleum gas (LPG) tanker caught fire after it collided with a container ship near Port of Tanjung Perak, Indonesia, on 28 June. Indonesia-flagged, 2008-built LPG tanker Navigator Aries was leaving Tanjung Perak port after discharging its cargo when it collided with Panama-flagged,
Wärtsilä tunnel thruster approval Wärtsilä has successfully obtained a Lloyd's Register (LR) 'Type Approval' Certificate for the Wärtsilä WTT11 tunnel thruster, which means the unit will not have to undergo a design review for each individual vessel or hull number. Wärtsilä says approval certification will also mean cost savings, as
Beijing audit reveals underreporting in COSCO accounts COSCO recorded CNY298 million (USD48 million) less in its revenue and CNY169 million less in cost for the 2008-13 period, leading to an understatement of CNY116 million in its profit for 2013, according to a National Audit Office (NAO) report. The report, released on 28 June, revealed that COSCO
Plans to demolish South Korea island announced An island off Busan, South Korea will be demolished to make it easier for ships to call at Northeast Asia's biggest transshipment hub. The island, called Tohdo, is situated at the entrance of Busan New Port. Due to its location, Tohdo has been regarded as an obstacle for vessels especially
Slower marine, coal growth hampers XMH performance Slower Indonesian marine and coal industry growth has affected Singapore-listed marine engine maker XMH Holdings' performance for financial year (FY) 2015. XMH posted a net profit of SGD5.43 million (USD4.02 million) for FY 2015 that ended on 30 April 2015, down 11.4% from SGD6.13 million in FY
UOB Kay Hian: Offshore, marine industry yet to bottom Singapore-based brokerage house UOB Kay Hian has suggested that the offshore and marine industry downturn has not bottomed yet. Analysts from UOB Kay Hian highlighted that the offshore support vessel (OSV) tender activities are recovering gradually despite oil companies asking for a 30% cut in day
Bank of Jiangsu files second lawsuit against Sainty Marine Shenzhen-listed Sainty Marine has been sued by the Bank of Jiangsu in a second dispute, this time over CNY112 million (USD18 million) of loans and refund guarantees. On 21 May, the bank filed the lawsuit against Sainty Marine at the Wuhan Maritime Court and demanded the repayment of CNY60 million
Twenty six rescued on board five vessels in Bohai Sea A total of 26 crew members were rescued from five vessels hit by gusts in Liaodong Bay of Bohai Sea in the afternoon of 29 June, according to China's Beihai Rescue Bureau. Two of the five vessels sank while three others took on water, the Beihai Rescue Bureau said on 30 June. At 15:20 h local time
VLGC rates near $130/tonne Rates to ship LPG on very large gas carriers (VLGCs) are inching closer to the USD130/tonne mark, having averaged USD128.156 /tonne on the Baltic Exchange on 29 June. That had come up from USD121.875/tonne on 22 June. At current bunker prices in Fujairah, the latest rate works out to daily earnings
KfW IPEX-Bank finances Petredec's LPG carriers Germany's KfW IPEX-Bank is working with compatriot credit insurance provider Euler Hermes to provide USD186.3 million in financing Singapore-based LPG trading house Petredec for the building of four 21,000 m³ LPG carriers. There is a German component in the deal, as German-made gas and tank systems
Kobe port's traffic up in March Cargo traffic increased by 5% in the port of Kobe, western Japan, in March from a year earlier to 8.608 million tonnes because of a big improvement in domestic trade, according to preliminary figures released by the Kobe municipal government. Of the 8.608 million tonnes, 4.536 million tonnes came
Lim promises a pragmatic period of regulation for shippin The election of South Korean candidate Lim Ki-Tack as the next IMO secretary-general is good news for shipowners wary of costly red tape
Samsung Heavy Industries wins first major offshore order this year South Korean yard takes $889m order from Norwegian state giant Statoil
Greek owners confirm tanker newbuilds Thenamaris has finalised VLCC orders while Callimanopulos order envisages up to 10 vessels
Monjasa takes credit line with ABN Amro Bunker supplier signs revolver deal with Dutch bank
Aframaxes set to build on vigorous first half Forecasts point to an even better second half of the year as tanker fundamentals remain in place
Dim view cast on carrier-freight forwarder relationship Carriers and freight forwarders must escape a 'zero-sum mind set' that is damaging not only their relationship, but also the entire supply chain
China Shipping Development books four aframax tankers State carrier fixes 114,000 dwt vessels at compatriot yard at $50m each
Economou exercises option for six DryShips aframaxes Move is part of expansion for Greek owner's privately held tanker fleet
Lim Ki-Tack next IMO secretary-general Voting went through five rounds to decide who will replace Koji Sekimizu at year end
CMA CGM strengthens ties with China New financing framework worth $1bn and strategic partnership with CMHI to be signed off when prime minister Li Kepiang is in France this week
Willis to merge with Towers Watson Marine insurance likely to remain integral to new diverse professional services giant
Second Calais walkout hits cross-Channel ferries MyFerryLink seafarers repeat last week's jobs protest
Smaller vessels rates look ready to head south Dry bulk market rally for handies and supras has reached the crest of the wave
South Korea wins election Lim Ki-tack has been elected secretary-general of the IMO and will assume the post at year end
25 ports earn awards in AAPA's 2015 Communications Competition The American Association of Port Authorities (AAPA) ... the unified and recognized voice of seaports in the Americas...will recognize 25 seaports for exemplary communications projects and programs at its annual convention and awards luncheon this fall. Winning entrants in AAPA's 48th annual Communications Awards Program will be recognized at a Nov. 4 ...
Hapag-Lloyd trans-Pacific rate push suggests past attempts failed Hapag-Lloyd's seeking of a rate increase in August on its eastbound trans-Pacific services after pushing for identical increases in the last two months suggest recent attempts fared poorly. The German carrier notified customers that effective Aug. 1, rates per 40-foot-equivalent unit will rise $600. The Transpacific Stabilization Agreement - a discussion...
Shippers told to prepare for global container weight verification rule In exactly one year new global regulations requiring every packed container have a verified container weight will go into effect, and shippers need to be prepared, an industry trade group warns. "One year from today, global containerized maritime commerce will need to comply with new international regulations that require every packed...
CEVA wins Best Seafreight award at AFLAS Awards 2015 Singapore - CEVA Logistics, one of the world's leading non-asset based supply chain management companies, was presented the Best Logistics Provider - Seafreight award at the Asia Freight, Logistics and Supply Chain (AFLAS) Awards held in Hong Kong.The awards, organized by Asia Cargo News, are designed to honor leading organizations...
HAMAG Harbour & Maritime Services Agency in Morocco joins XLProjects HAMAG, Harbour & Maritime Services Agency, born as ship agent turned quickly into a global and integrated operator with the wholechain of maritime transport: agency, freight forwarding, chartering and brokerage. HAMAG, with its expertise and its network of international partners, is committed to: Provide its customers a daily support and a high quality...
Georgia Ports Authority launches 'Gateway to the World' Savannah, Ga. - The Georgia Ports Authority has launched a four-part video series, "Gateway to the World," in which logistics experts from companies such as Caterpillar, Georgia Pacific, Home Depot and Lowe's describe why Georgia's ports are critical to their supply chains. "This initiative speaks through the voices of those who have...
Research Note: US containerized exports to fall again in 2015 The Port of MiamiWhile a large share of the first-quarter 2015 decline in U.S. containerized exports can be traced to the conflict at U.S. West Coast ports, the economic slowdown in Asia and in emerging markets cannot be dismissed. Emerging markets in Latin America and the Caribbean, the Commonwealth of...
Charleston port revises Saturday gate hours Saturday hours for truck gates at the Port of Charleston will be revised to eliminate the lunchtime closure, the South Carolina Ports Authority said. Beginning July 11, gates will be open on Saturdays from 7 a.m. to 2 p.m. They now are open from 8 a.m. to noon, and from 1...
Challenges to China ports' slowing growth unprecedented Port of QingdaoThe Chinese economy has said goodbye to high-speed growth as well as stable foreign trade volumes, which is putting pressure on the operations of Chinese ports, Tong Mengda, chief economist of Ningbo Port Group, told delegates at the Intermodal Asia 2015 conference in Shanghai in March. These ports' situation...
DOT report fuels push to overhaul US truck safety program WASHINGTON - The U.S. Department of Transportation is under renewed pressure to overhaul its key truck safety initiative after a 2014 study only recently made public found the program's safety metrics don't always align with the real risk of accidents on the road. According to the study, there is a significant...
New York seeks to reactivate South Brooklyn terminal Red Hook Container Terminal, Brooklyn, NY. New York officials are seeking a tenant to reactivate the South Brooklyn Marine Terminal, which recently was designated as part of the U.S. Maritime Administration's Marine Highways initiative. The city's Economic Development Corp. recently leased the 88-acre terminal, a former automobile import facility, and plans to...
Strong US dollar, low oil prices hurting US-Canada trade The value of goods shipped across the U.S.-Canadian border dropped 12.5 percent in April, thanks in part to a weaker Canadian dollar and a shrinking Canadian economy. In April, all transport modes carried a lower value of U.S.-Canada freight than a year earlier, the U.S. Bureau of Transportation Statistics said in...
New vessels give Alianca Navegacao cabotage edge Alianca Navegacao's Vicente PizonThe christening last week of the Vicente Pinzon marks the completion of Alianca Navegacao's reais 700 million ($224.5 million) cabotage and coastal fleet upgrade aimed at securing its dominance in the Brazilian cabotage market. The vessel with a capacity of 4,828 twenty-foot equivalent units and its identical sister,...
CMA CGM to sign $1 billion financing agreement with China Ex-Im Bank LONDON - CMA CGM will sign a $1 billion financing agreement with the Export-Import Bank of China on Wednesday when Chinese premier Li Keqiang visits the French carrier's headquarters. The Marseille-based carrier said the agreement provides for loans and guarantees for ship and container orders from China as well as strategic...
Island removal aimed at boosting Busan transshipment productivity As part of Busan's larger effort to shore up its transshipment business amid fierce competition, the Korean government has announced plans to remove an island to allow the port to better handle mega-ships. South Korea's Ministry of Oceans and Fisheries has set aside $357 million to remove the island of Tohdo...
Shippers await report on Heathrow, Gatwick airport expansion LONDON - The U.K.'s air freight shippers are nervously awaiting the publication of a long-delayed report that will recommend either London Heathrow or nearby Gatwick as the best site for a new runway in the crowded southeast of the country. The majority of export and import shippers back expansion at...
Shippers question multiple surcharges levied by Asia-Europe lines HONG KONG - Shippers on Asia-Europe have never been fans of the host of surcharges levied by carriers on the trade and have routinely levelled complaints that the ad-ons were more boosters of revenue rather than a cost recovery mechanism. One major global shipper compared the container shipping freight market...
G6 adds more Asia-Europe port calls as other alliances cut sailings HONG KONG - The G6 Alliance continues to add port calls to its Asia-North Europe services, this time in China, in a bid to secure additional cargo loads on the trade during the much hoped for peak season.China's ports of Fuzhou in the Taiwan Strait and the Guangzhou's Nansha will...
Air freight shippers await key report on Heathrow, Gatwick airport expansion LONDON - The UK's air freight shippers are nervously awaiting the publication of a long-delayed report that will recommend either London Heathrow or nearby Gatwick as the best site for a new runway in the crowded southeast of the country. The majority of export and import shippers back expansion at...
DHL deal with Kazakhstan rail to grow China-Europe services HONG KONG - Kazakhstan's national rail operator and DHL Global Forwarding have signed a memorandum of understanding that will provide the logistics operator with additional block trains on the fast-developing land bridge between China and Europe.The forwarding unit of DHL inked the MOU with Kazakhstan Temir Zholy Express, a holding...
Shippers question multiple surcharges levied by Asia-Europe lines HONG KONG - Shippers on Asia-Europe have never been fans of the host of surcharges levied by carriers on the trade and have routinely levelled complaints that the ad-ons were more boosters of revenue rather than a cost recovery mechanism. One major global shipper compared the container shipping freight market...
G6 adds more Asia-Europe port calls as other alliances cut sailings HONG KONG - The G6 Alliance continues to add port calls to its Asia-North Europe services, this time in China, in a bid to secure additional cargo loads on the trade during the much hoped for peak season.China's ports of Fuzhou in the Taiwan Strait and the Guangzhou's Nansha will...
US Labor chief rejects bills seeking port labor-management system reform U.S. Secretary of Labor Thomas E. Perez said Monday that bills before Congress seeking to avoid lengthy negotiations marked by labor slowdowns and employer retaliation that recently plagued West Coast ports aren't the answer. His statement poured cold water on any hopes that the Obama administration would provide support for...
Teekay hikes payout Teekay Corp swelled its payout to shareholders by 75% after selling a floating, production, storage and offloading (FPSO) to a daughter company.
Teekay's Knarr cash drive Teekay Offshore Partners is poised to issue $550m in shares to purchase a floating production, storage and offloading unit (FPSO) from its parent.
Maersk takes precautions Maersk Line took precautionary measures and paid its employees in Greece slightly earlier in order to avoid the capital controls finally imposed by the government yesterday.
Handy deal for NewLead Greece's NewLead Holdings has fixed one of its eco-handysize bulkers on a charter of between two and four months.
Navios fixes capesize Navios Maritime Partners has fixed one of its capesizes at a premium rate.
Petrobras slashes spending Scandal-hit Brazilian oil and shipping group Petrobras has cut its five-year budget by 41%.
Economou seals $291m deal George Economou has completed a $291m deal to buy six tankers from DryShips, officially ending the company's IPO spin-off plans.
CMA CGM's $1bn deal French container line CMA CGM is to sign a $1bn new financing deal with China Exim bank.
Lim new IMO head South Korean diplomat Lim Ki-Tack has won the election to lead the International Maritime Organisation (IMO) from January for a four-year term.
HHI closes on orders Korean shipbuilder Hyundai Heavy Industries (HHI) could be about to book a series of newbuildings including VLCCs.
CSDC orders quartet Chinese owner turns to GSI for the construction of four products tankers for $199m.
Arsenal neutralised VIDEO: Watch how MARAD's ro-ro destroyed chemical weapons at sea.
Edelweiss buying more Bharati Shipyard creditor Edelweiss Asset Reconstruction is poised to snap up a further 15% of the loss-making shipbuilder's debt.
Siem-Daya deal approved Siem Offshore has seen an agreement for the sale of an offshore subsea vessel to Daya Material approved by the latter's shareholders.
NYK admits collusion South Africa has fined Japan's NYK for collaborating on car carrier contracts with competitors.
Tug/barge fleet for sale Russian broker Nova Shipping is seeking a buyer for up to six tug/barge units.
SeaZip finds work Dutch owner SeaZip Offshore Service has found period employment for its new fast crew supplier.
Premuda strikes debt deal Italian bulker and tanker owner Premuda has agreed in principal a restructuring agreement with its financiers.
Rig headache for owners North Sea offshore vessel demand is being hit by a number of rigs being laid up or coming to the end of their contracts.
LPGC and boxship collide An LPG tanker has collided with a containership off the port of Tanjung Perak in Surabaya, Indonesia.
Cement carrier aground A veteran cement carrier has reportedly taken on water after running aground off Sweden on Monday night.
Otto Marine claim cut A claim for compensation against Otto Marine in a vessel financing row has been reduced.
Calais shut again Ferry services between Dover and Calais were cancelled again on Tuesday as MyFerryLink workers blockaded the French port.
Tallink finances ferry Loan from Nordea Bank set to cover 80% of costs of Meyer Turku shipyard newbuilding.
Grexit fallout limited Greek shipowners remain unaffected regardless of any development in their domestic economy, according to Morgan Stanley.
CHO wins charter dispute CH Offshore has successfully recovered $60m of outstanding charter hire in a dispute with Venezuelan oil major PDVSA.
GSL secures higher rate Global Ship Lease (GSL) has extended a second containership time charter with Sea Consortium's X-Press Feeders.
Logger back on the block A South Korean-owned bulker which failed to find a buyer at an auction in Singapore last week is set to go under the hammer again.
LNG-powered ferry secures funding Finnish-Estonian project should see vessel ready by 2017.
Banks and traders biggest Wiljo creditors Company called 'O.W.B. ARA SC' appears on list of creditors to bunker company that went down shortly after OW bankruptcy.
Port operator approves plans for LNG bunker terminal 'Muuga is one of the best locations for an LNG bunkering terminal in Estonia.'
'Slow steaming' returns to Indian Ocean routes 'Threat of piracy altered shipping routes, speeds and costs for vessels.'
Bunker player 'doubles its credit facilities' 'We appreciate the vote of confidence in Monjasa's business model,' says CFO.
Cleartrade expands market reach Trading hours extended to cover Asia.
Gibraltar government still downplaying LNG report 'Report was based on a number of assumptions that are not likely to form part of the proposals.'
LNG-powed ferry secures funding Finnish-Estonian project should see vessel ready by 2017.
US Navy vessel bunkers at Georgia Batpetrol interested in international partner to develop services.
Canada: Pipe leaking oil at Prince Rupert Product believed to be bunker fuel, says Prince Rupert Port Authority.
Mitsubishi Corporation to merge subsidiaries Development affects MC Energy which sells bunker fuel.
US Navy vessel receives fuel at Georgia Supplier organised warship to receive fuel at berth.
Orient Overseas (International) Limited (OOIL), the subsidiary of the Chinese shipping group COSCO Shipping Holdings that operates containerized maritime transport services with ...
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