Scope of canal repairs widens Repairs to the Panama Canal's new locks will be more extensive than previously indicated, while the completion date remains uncertain. In August, severe leakages were found in the concrete sill separating the lower and middle chambers of the Cocoli Locks on the Pacific side. The Panama Canal
US LNG imports rebound After a multi-year decline, LNG imports to the US are up sharply this year off a smaller base, driven by demand in northeast states. According to US Energy Department statistics, US LNG imports totalled 52.6 billion cubic feet (Bcf) in January-July 2015, up 43% from 36.9 Bcf in the same period last
US coal exports plummet Exports of US coal are down 21% in the first seven months of this year, according to data from the Energy Information Administration (EIA). Exports totalled 45.5 million tonnes in January-July 2015 versus 53.9 million tonnes in the same period last year. "Slower growth in world coal demand, lower
Golar floating LNG project approved The final investment decision has been made on the floating LNG (FLNG) project in Cameroon that will utilise Golar LNG's carrier Hilli. The binding agreement with Cameroon's government, its state oil company, and independent oil company Perenco was finalised on 30 September. The agreement allows
Carnival finalises Cuba plan Carnival Corp has confirmed its new Cuba cruise itinerary as US regulations governing passenger-ship calls to the island continue to ease. Carnival's new Fathom brand will begin weekly voyages to Cuba with the 710-passenger Adonia in May 2016. The cruise owner announced on 30 September that the
EU agrees to seize human trafficking vessels The European Union will launch the 'active phase' of its military operation against people smugglers in the Mediterranean Sea on 7 October. Following the first, intelligence-gathering phase of EUNAVFOR MED, this next stage will see EU naval forces being able to board, search, seize, and divert
DNB Markets raise product tanker freight rate, valuation forecasts DNB Markets analysts in Oslo have raised their forecasts for product tanker freight rates and vessel valuation to reflect the continuing benign trading environment. "We reiterate our positive view on the product tanker segment as we see continued potential upside risk," said shipping analysts
New equipment boosts Subic Bay container capacity Philippines' Subic Bay International Terminal Container Corporation (SBITC) last week received three new reach stackers and 16 new Kalmar Ottawa terminal tractors, parent company ICTSI confirmed to IHS Maritime on 30 September. This gives the facility, two hours by road to the north of Manila, much
Singapore fund to boost LNG-fuelled ships The Maritime and Port Authority (MPA) of Singapore has established a SGD12 million (USD8.4 million) fund to promote the building of LNG-powered ships. Currently the world's biggest bunkering port by sales volumes, Singapore hopes to offer LNG bunkering by 2020 and is planning a pilot run from 2017.
Nickel ore trade to grow despite Indonesian ban Despite Indonesia's ban on nickel ore exports, seaborne trade of the metal will continue as China - the world's biggest nickel ore importer - seeks alternative sources, according to Italian shipbroker Banchero Costa. Before the Indonesian ban came into effect on 1 January 2014, China rushed to
BW bags two more LNG carriers at DSME Singapore-based BW Group has ordered two more LNG carriers from Daewoo Shipbuilding & Marine Engineering, almost a year after it ordered two similar ships from the South Korean shipbuilder. The two 173,400 m³ LNG carriers contracted on 25 September are priced at KRW478 billion (USD400 million) in
Sinotrans Shipping books four box ships Chinese state-owned carrier Sinotrans Shipping has ordered four 1,900 teu container ships from CSSC Huangpu Wenchong Shipbuilding. The ships, costing USD98.2 million in total, are to be of fuel-efficient design and delivered in May, June, September, and November 2017. Sinotrans Shipping, which
'Policy-making tool' will strengthen EU Blue Economy European maritime clusters will meet the European Commission (EC) next month to discuss launching a "tool for maritime policy-making" to strengthen the fortunes of Europe's blue economy and in turn the economy of the whole region. Under the umbrella of the European Network of Maritime Clusters
Massive dredging needed for Indian port-led cluster project Capital dredging works on an unprecedented scale is on the cards as the Indian government pushes its ambitious Sagarmala project that will see regional economic clusters centred on port development. "The proposed integration of coastal and inland waterways for faster and more eco-friendly movement
Ningbo, Zhoushan ports complete merger Shanghai-listed Ningbo port on 29 September completed merger procedures with Zhoushan port. The new company will be known as Ningbo-Zhoushan Port Group. Ningbo and Zhoushan branches of state-owned Assets Supervision and Administration Commission will hold 94.47% and 5.53% shares in the new company,
Golar lands final investment decision for Cameroon FLNG project Production will start in second quarter of 2017 and Golar will earn $170m-$300m in first year of operation
Hapag-Lloyd and Maersk team up to tackle unsafe cargoes German line discovered 2,620 cases of incorrectly declared dangerous goods that were prevented from being shipped last year
G6 cuts transpacific capacity for winter Two Asia-US east coast services combined and one removed from Asia-US west coast trade
Houston declares itself big ship ready US Gulf Coast port completes major dredging project at Barbours Cut Container Terminal
Vogemann and Ahrenkiel launch open-ended supramax pool Unnamed Greek owner also participating and others invited to sign up
Lidinsky takes a look at box line alliances - one year on Alliances have evolved and more regulatory bodies are required to monitor these global networks but all parties must proceed with caution
Wisdom Marine confirms exposure to Daiichi Chuo Taiwanese tonnage provider has eight handies chartered to Daiichi companies but direct exposure is limited
Box Ships to buy back up to 10% of stock Founder Michael Bodouroglou underscores belief in company by eyeing personal stock purchases
Hellenic Carriers posts bigger loss AIM-listed owner of five bulkers earns softer repayment schedule from banks
Mitsui Shipbuilding to buy TGE Marine MES is looking to deepen engineering expertise in building small to medium-sized gas carriers with this deal
Broker SSY inks LNG co-operation deal with Korean consultancy Team will target new shipowners and fresh funds in South Korea, says SSY Gas director
Slowing Chinese growth will spur shipping consolidation, warns Fitch Dry bulk and container shipping are most at risk while tankers should fare better
K Line enters VLGC time charter with Gyxis The 82,200 cu m gas carrier will be built by Kawasaki Heavy Industries
US court grants Daiichi Chuo temporary restraining order Bankrupt Japanese company tries to preserve its assets by filing for US Chapter 15 protection
DSME wins contract to build two LNG carriers South Korean shipbuilder returns focus to commercial ships
Vietnamese authorities arrest master and crew for possession of air rifles Air guns bought in Thailand for sale in Vietnam were hidden on cargoship
Sinotrans Shipping buys four 1,900 teu boxships for $98.2m Company to take advantage of low newbuilding prices to expand its fleet
Indonesia looks to build port modelled after Rotterdam's Jakarta's city officials will work with port operators to create an integrated seaport
NY-NJ import growth slows as cargo returns to West Coast The Port of New York and New Jersey's import container volume rose 6 percent year-over-year in August as growth moderated after months of double-digit increases aided by West Coast cargo diversions. The slower year-over-year percentage growth at the East Coast's busiest port is the latest sign that shippers are returning to...
US domestic intermodal rates jump on peak season demand U.S. domestic intermodal spot rates are jumping anywhere from $500 to $1,000 on peak season demand, but it won't last long, according to third-party logistics provider IDS. Peak season is "not going to be that long, a couple weeks maybe," Shelli Austin, president of IDS Transportation, told JOC.com Wednesday. The industry's...
Major carriers, feeder operators cut services to ailing Venezuela Falling containerized cargo to Venezuela is forcing major carriers and feeder operators to reduce services as they grapple with poor port productivity and challenging hinterland connections. "A couple of years ago, we saw the private sector in Venezuela struggling and the government taking up the slack. What we are seeing now...
Surge in US transport, warehousing job openings recedes The supply of transportation and warehousing workers seemingly caught up with demand in July, as the number of hires in logistics industries equaled the number of job openings for the first time since last December, U.S. labor statistics show. However, the number of workers leaving transportation and warehousing jobs was...
SeaLand CEO reports progress after initial bumps Maersk relaunched SeaLand in January to provide more specialized service in the Americas' north-south trade. After some early hiccups, it is now reporting solid progress. "We still have some things we need to work through and a few areas to shore up, but as we enter the fourth quarter we'll be...
US ports need Congress to boost landside connection funding American transportation lore is filled with great stories like Dwight D. Eisenhower's cross-country road trip in 1919, when it took him 62 days to traverse the nation by car on a patchwork of rutted trails. Scholars point to this trip as the inspiration for a bill he signed 40 years...
$2B Israel ports expansion aimed at averting capacity crunch Israel is hoping that a $2 billion port expansion drive, involving construction of two major container terminals at the ports of Haifa and Ashdod, will help it stave off a trade capacity crunch. Israel's economic isolation from almost all of its neighboring countries, including Lebanon, Palestine, and Syria, and associated sanctions...
Mega-ships accidents pose risks to supply chains, shippers, insurers Dealing with a container ship incident has gone from a puzzling and troubling situation, to one that can be fairly described as an absolute catastrophe as they continue to grow in size. Cargo interests require a time-consuming and costly resuscitation following a serious container ship casualty that can hit both...
Turkey's Yilport acquires Portuguese port operator LONDON - Yilport Holding, the leading Turkish port operator, has reached agreement to take over Tertir, a Portuguese port and logistics company, with terminals in Europe and Latin America. Yilport paid 335 million euros ($375 million) to acquire 100 percent of Tertir's shares held by Portugal's Mota-Engil group and Novo Banco. Tertir...
Global air cargo stabilizes after slowdown London - Global air cargo traffic stabilized in August following two months of decline as strong growth in the Middle East offset lower volumes in North and South America, according to the International Air Transport Association. Traffic, measured in freight metric ton kilometres, grew 0.2 percent in August from a year...
Recent US freight decline foreshadows flat rest of the year, CSCMP says SAN DIEGO -Total U.S. freight movement dropped in August, and new orders also declined, setting the stage for flat growth for the rest of the year, forecasts an organization representing supply chain logistics professionals. The message builds on the ominous signs for freight growth seen through high inventories and high...
JNPT deploys more container trains to deal with months-long backlog Jawaharlal Nehru Port Trust, India's biggest container handler, is increasing intermodal train deployments and rolling out more proactive measures in an effort to alleviate the backlog of containerized freight built up during the past few weeks. Following a week-long shuttering of APM Terminals-operated Gateway Terminals India in early August, container inventory...
Idle box ship fleet surges to 18-month high London - The fleet of idle container ships over 500 twenty foot equivalent units surged by 90,000 TEUs in the past two weeks to reach 673,000 TEUs, or 3.4 percent of global capacity, the highest rate since March 2014, according to Alphaliner. There were 208 unemployed vessels on September 21, up...
Lines in G6 Alliance cut Asia-US sailings HONG KONG - Carriers in the G6 Alliance have announced new sailing cuts in services from Asia, this time to both the U.S. East and West coasts from late October as the container shipping heads into the slow season.The suspensions are in response to what the alliance calls "traditional seasonal...
Ningbo-Zhoushan officially merged into one port HONG KONG - The merger between Ningbo Port Co. and Zhoushan Port Co. was finally completed this week in the latest move by Beijing to reform its giant state-owned enterprises, although the port complex has long been regarded as a single entity.Both port companies have been placed under Ningbo-Zhoushan Port...
Value in Golar FID Golar LNG's Cameroon floating liquefaction project adds $10 to $15 per share to the New York-listed company's net asset value (NAV), an analyst said Wednesday.
NAP wakes up by 14% Navios Maritime Midstream Partners and GasLog Partners saw their shares skyrocket Wednesday, with both gaining more than a tenth.
Anker grows Clarksons stake Peter Anker has increased his stake in London-listed Clarksons at a difficult time for global stock markets.
Teekay in the (Chinese) money Teekay has scored $1bn in new loan facilities from the Export-Import Bank of China (CEXIM).
NGO answers to Sekimizu Clean Shipping Coalition (CSC) has replied to the International Maritime Organization (IMO) in its effort to ensure that greenhouse gas emissions will be addressed in the Paris climate deal.
Cameroon boom for Golar LNG stock Golar LNG shares raced up in early trading after the company revealed a major breakthrough in its FLNG ambitions.
Titanic switch Australian tycoon Clive Palmer has ditched a plan to take his new Titanic replica cruiseship across the Atlantic on its debut voyage.
Wisdom not worried Taiwanese bulker owner says filing of Japan's Daiichi does not pose a significant risk.
Golar hits FLNG 'milestone' Tor Olav Troim-backed owner celebrates after Cameroon project gets final approval.
CSL bins two oldies Canada Steamship Lines (CSL) has sent two of its older vessels for demolition in a Turkish breaking yard.
SBM eyes Petrobras deal Dutch owner cleared to bid in Brazilian major's new FPSO tenders.
Ten in two days for Sinotrans Chinese owner adds bulker sextet to four boxship newbuildings placed on Tuesday.
DONG eyes IPO State-controlled Danish energy group DONG is planning an IPO within 18 months.
NEPA in big coal deal NEPA Projects has brought together 27 small Indonesian mines and will take over the shipment of their coal from November.
DNB raises products view DNB Markets has brightened its view of the products tanker market with increased rate and asset value assessments.
SSY beefs up LNG team UK-headquartered Simpson Spence Young (SSY) is joining forces with a South Korean company as the shipbroker extends its reach on LNG.
G6 suspends three runs The G6 Alliance of container lines is temporarily halting three runs from Asia to North America.
Germans form dry pool German shipowners H. Vogemann and Ahrenkiel Steamship have joined forces to create a new supramax pool.
Yildirim buying Tertir Turkey's Yildirim Group is paying more than EUR 330m ($370m) for 100% control of Portuguese ports and logistics company Tertir.
NewLead deals collapse NewLead Holdings has seen its mine business take another hit as two more deals collapsed yesterday.
P&O extends ro-pax deal P&O Ferries is keeping a Godby Shipping ro-pax until at least the end of 2016.
Saga orders duo Saga Group of the UK has ordered two new cruiseships in order to meet growing demand for holidays.
Cash for gas The Singapore government is to offer money to shipowners to help them build LNG bunkering vessels.
Bodouroglou to build stake Michael Bodouroglou is looking to increase his holding in Box Ships at the same time as the shipowner announced a share repurchase scheme.
Greek revenues fall Greek owners' domestic revenue fell 60% during the first full month of capital controls imposed by the government during the country's financial crisis.
Bodouroglou builds stake Chief executive of Nasdaq-listed Box Ships set to add another 5% through share buyback scheme.
Debt hope for Hellenic Fotini Karamanli's Hellenic Carriers expects to complete an overhaul of a third debt facility this year after securing fresh terms of two loans during the first half of 2015.
K Line adds VLGC Japan's Kawasaki Kisen Kaisha (K Line) has ordered a new VLGC on the back of a domestic time charter.
More bonds for Subsea 7 Oslo-listed Subsea 7 has bought back more convertible bonds as it continues to spend its spare cash.
BW back at DSME Singapore's BW Group is spending more than $400m on two new LNG carriers at DSME.
GREE gets loan breather Greenship Bulk Trust has secured a three-year extension to repay a $40m loan used to pay for eight of its supramax bulkers.
Sealion lays up two Sealion Shipping has reportedly laid-up two anchor handlers in the North Sea due to the weak market conditions.
MPA gives OSVs a hand Singapore has given a helping hand to the hard-pressed offshore sector by extending port due concessions for OSV operators.
DNB buys Ezra stake DNB Bank has emerged as a significant shareholder in struggling offshore services company Ezra Holdings.
Losses widen for Hellenic Carriers But market should rebound in 2017, company says.
IMO has failed, says environmental coalition 'Left to its own devices, the IMO would be unable to show the sort of leadership shipping needs if it is to play a proper role in tackling climate change.'
Yujin International sees revenue slip But aims to grow business despite challenging market.
Singapore: Application for LNG-fuelled vessel grant 'now open' Funding of up to SGD $2 million provided per vessel, says MPA.
Glencore shares stage partial recovery Investors worry about the ability of the trading house to manage its $30 billion debt.
LNG prospects: 'ECAs are a real game-changer' But shipowner calls for more 'political support'.
DCKK moves to protect assets In United States and other jurisdictions.
Cheaper fuel gives Hapag-Lloyd ratings boost As company outlook graded from stable to positive.
Vietnam: Vessel held over oil smuggling activity Arrest took place during alleged illegal fuel transfer operation.
Rosmorport develops fuel accounting software New system to save enterprise over $3.4 million on bunkers and lubricants each year.
DNV GL: Start preparing for EU CO2 rule Monitoring plan required per vessel by August 2017.
Mitsui buys German LNG fuel systems design outfit To establish strong position in the market.
Rotterdam makes progress with LNG bunkering infrastructure Dredging operations start for a LNG break-bulk terminal that will support bunkering activities.
DNV GL: Prepare for EU CO2 rule 'ahead of time' 'Shipping firms should start developing a monitoring plan.'
German LNG fuel systems design firm gets acquired Total acquisition value at $184.57 million, says Japanese buyer.
Singapore patent granted for hybrid propulsion technology Technology comes with fuel efficiency claims.
De-bunkered vessel re-floated off-Sweden 'Extensive damage' to bulk carrier, says Swedish Coast Guard.
Rotterdam seminar highlights shipping's LNG fuel strategy Two-day LNG Master Plan meeting was held in Rotterdam on September 23 and 24.
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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