Arkon, Rolner launch new project carrier German chartering broker Arkon and the former managing partner of heavy lift carrier SAL, Lars Rolner, have teamed up for the launch of a new tramp project carrier. United Heavy Lift, with headquarters in Hamburg and a second office in Seoul, Korea, is to operate a fleet of 18 multipurpose heavy
Cargo hold deaths under investigation The UK's Maritime Accident Investigation Branch is investigating the deaths of two senior officers who died aboard an Isle of Man flagged general cargo bulk carrier. The chief officer and chief engineer of Carisbrooke Shipping's Sally Ann C died on the 13 March after they entered a cargo hold where
Strike to halt Finnish flag ships A strike that started as a work and pay term conflict involving about 200 persons on icebreakers will expand at 14.00 local time tomorrow to halt Finnish flag cargo and passenger vessels. "Measures intended to support a strike on icebreakers will halt all cargo and passenger shipping involved in
Ocean Yield buys eight chemical tankers Norwegian-listed Ocean Yield says it has agreed to acquire eight chemical carriers for a total of USD307.8 million. At the same time, the investment company has signed 15-year 'hell and high' bareboat charters [meaning hire is payable unconditionally] to Navig8 Chemical Tankers. "The first four
HSH Nordbank returns to profit German state bank and leading ship financer HSH Nordbank achieved a profit last year for the first time since 2010. A reversal in risk costs saw the bank post net earnings of EUR160 million today, against a loss of EUR769 million in 2013. Reduced provisioning and compensation from state guarantees
US harmonises offshore vessel safety Foreign shipowners that plan to work in US offshore drilling markets will be required to ensure their vessels meet the same standards for explosion protection as their US counterparts. The new requirement, published 31 March and effective 30 April, applies to mobile offshore drilling units (MODUs)
MOL set on container business return to profit As the container business has been dragging down Mitsui OSK Lines' (MOL's) profits in recent years, its president, Koichi Muto, has expressed a determination to restore profitability to the sector in the coming financial year (FY). Speaking on the 131st anniversary of the establishment of Japan's
Euronav optimistic after reduced 2014 losses Pure-play crude tanker shipping giant Euronav is optimistic about the outlook in the sector after reporting reduced losses for both 4Q14 and the full-year 2014. Group net loss narrowed to USD3.9 million in 4Q14 from USD23.3 million a year earlier, while revenues rose to USD144.8 million from
Howe Robinson forms merger with ICAP Shipping The merger of ICAP Shipping and Howe Robinson Group is now official. The new entity, called Howe Robinson Partners, will be headquartered in Singapore under the leadership of chairman Peter Kerr-Dineen. ICAP Shipping's former boss Henry Liddell will head the new entity's tanker division. Howe
Compensation process begins for Sewol victims The South Korean government said on 1 April that it will start compensating victims of the Sewol ferry, nearly a year after the vessel capsized. On 16 April 2014, the Sewol, carrying 476 passengers and crew, capsized during a routine Incheon-Jeju trip. More than 300 of them were Danwon High School
COSCO Shipping posts 506% profit rise Shanghai-listed COSCO Shipping on 31 March announced that it recorded profit of CNY197.8 million (USD32.0 million) for 2014, up 506% from a profit of CNY32.6 million in 2013. The company recorded revenue of CNY7.66 billion in 2014, up 2.98% year on year (y/y) from CNY7.44 billion in 2013, and its
No let-up seen for Panamax bulkers The market environment for Panamax and post-Panamax bulk carriers remains challenging, and has been particularly affected over the past year by the slowdown in coal trades, said Italian broker Banchero Costa. Panamax bulkers are also increasingly challenged by large geared Supramaxes on some coal
Chinese shipbuilders' market share weakens Although Chinese shipbuilders have been winning fewer orders since the start of the year, this would not mean more business for South Korean shipbuilders, said an analyst. Samsung Securities analyst Han Young-soo said that China's market share in the global shipbuilding market fell from 42% in 2013
Gate Terminal LNG breakbulk ground-breaking Chief executives representing players from across the port of Rotterdam's LNG and logistics chain attended a symbolic ground-breaking ceremony today to mark the official start of the EUR76 million (USD82.5 million) LNG break-bulk development at Gate Terminal. The terminal is a joint Gasunie-Royal Vopak venture on the Maasvlakte that opened in 2011 to enable
OOIL orders six 20,000 teu box ships Hong Kong-based Orient Overseas (International) (OOIL), the parent company of Orient Overseas Container Line (OOCL), announced it had placed a new order for six 20,000 teu container ships at Samsung Heavy Industries for USD951.6 million. OOIL is currently arranging a bank loan to fund 70% of the costs of the
Tauranga to dredge harbour for bigger ships As part of its NZD250 million (USD187.1 million) capital expansion programme to be New Zealand's premier hub port, Port of Tauranga (POT) has called for tenders to dredge the harbour and approach channel to 14.5 m low water draught. Mark Cairns, chief executive Port of Tauranga, told IHS Maritime
JES International still in red for 2014 Singapore-listed Chinese shipbuilding group JES International has announced another loss for 2014. In a Singapore Exchange filing, JES International said it had a loss of CNY290.466 million (USD46.83 million), which was lower than the CNY552.191 million loss for 2013. However, its fourth-quarter
Shipping confidence falls to lowest level since 2012 Overtonnaging and oil price lead industry concerns, Moore Stephens finds
Maersk Line's baffling baf Danish carrier responds to criticism of its new fuel surcharge system
Minoan Lines posts 2014 profit after five years of losses Grimaldi affiliate becomes second Greek owner in battered sector to return to the black
Capital Product scores better rates for tanker duo Nasdaq-listed owner takes the first of five dropdown newbuildings from Greece-based sponsor
GasLog completes $460m acquisition of BG duo Brings to eight the number of LNG carriers taken from BG in last 12 months
Sovcomflot shrugs off sanctions as it returns to profit Improvement due to company's own efforts as well as better market, Kolesnikov insists
Six new ultra large ships for OOCL makes G6 alliance look more formidable With MOL's recent six-strong order, G6 will be able to compete directly against 2M and Ocean Three on the Asia-Europe trades
Rickmers Group swoops on three boxships The three post-panamax vessels will be chartered to CMA CGM
HSH returns to profit as shipping provisions plunge 70% But bank forced to up regional government financial guarantees
Gargiulo replaces Heimann at IMEC New chief executive has strong human resources background
Paragon posts larger loss in fourth quarter Bulker owner exploring alternatives to boost liquidity and 'emerge stronger' from downturn
Box line reliability up in February Hamburg Süd replaces Maersk Line as most reliable carrier
Howe Robinson and ICAP finalise broking merger New Singapore company starts trading today
Slight rise in activity ushers out miserable first quarter Increased trading in the Pacific and Atlantic provides some relief for struggling capesize owners
India demolition enjoys resurgence Improving steel plate prices and a stabilising rupee behind increased activity
Zim looks to expand on US east coast Carrier is considering adding extra services to Atlantic seaboard in light of increased demand
Six 20,000 teu containerships on order for OOCL Hong Kong-listed container line is latest to shake off its resistance to ordering mega ships, as Asia capacity war heats up
TSA's proposed minimum rates reflect strong demand to East and Gulf coasts Shipping lines in the eastbound Pacific announced Wednesday a schedule of minimum rates that appear to reflect strong demand for vessel space on all-water services to the East and Gulf coasts, and congestion issues on the West Coast. The Transpacific Stabilization Agreement, a discussion agreement of 15 of the largest carriers...
Port of Virginia deploys more equipment to cope with six-week-long backlog The Port of Virginia is rolling out additional equipment and breaking ground on a new cargo yard in an effort to relieve a now six-week-long container backlog on the waterfront. Since a winter storm shut down the port for four consecutive days over the Presidents' Day weekend in February, the port...
US truck driver shortage getting worse, turnover figures show The U.S. truck driver shortage is getting worse, despite increases in driver pay and redoubled hiring and retention efforts by for-hire trucking companies, truckload driver turnover data released today by the American Trucking Associations indicate. The driver turnover rate at large truckload companies has been stuck at 90 percent or higher...
European volume flat while Asia-Europe capacity rises Growth in containerized imports and exports through North Europe ports is expected to flatten out this year after solid increases in 2014, according to the North Europe Global Port Tracker report. The report, produced by Hackett Associates and the Bremen, Germany-based Institute of Shipping Economics and Logistics, projects that North Europe...
2M partners Maersk, MSC add trans-Atlantic service 2M Alliance partners Maersk Line and Mediterranean Shipping Co. have added a fourth westbound trans-Atlantic service as part of a global revamping of their east-west routes. The new ATL4 service will call Antwerp, Rotterdam, Bremerhaven, New York-New Jersey and Savannah. The new service will result in the deletion of those ports...
Carrier contract rate benchmark ticks up amid east-west spot pricing drop A benchmark of contracted ocean freight rates has inched up, but doubts remain whether the uptick is sustainable considering beneficial cargo owners' resistance to pay more for poor service. Ocean contact rates on cargo moving on the two major east-west routes - Asia-Europe and trans-Pacific - increased 1 percent between November and...
West Coast container volume plummets by nearly a quarter Container volumes at West Coast ports plummeted 24 percent in the first two months of the year compared to 2014 due work slowdowns by the International Longshore and Warehouse Union, marine terminal congestion and the diversion of cargo to other ports. Numbers posted Wednesday on the website of the Pacific Maritime...
Hapag-Lloyd software catches misdeclared hazmat shipments Hapag-Lloyd said it detected and prevented the shipment of 2,620 misdeclared shipments of dangerous goods last year - an average of more than 50 a week. The German container ship line said the misdeclared goods were detected by its new proprietary software that flags suspicious shipments and provides data to quantify...
West Coast port congestion creates Panama Canal delays Officials at the Panama Canal say an "unusual" backlog of vessels on either side of the waterway is likely due to the lingering effects of U.S. West Coast port congestion more than a month after acrimonious labor disputes there came to a close. "The situation affected the weekly schedules of services...
Intermodal's challenges as seen through a Fresno farewell As of Dec. 8, 2014, BNSF Railway ceased intermodal service at its Fresno, California ramp. BNSF believes the closure "will allow the railroad to increase the speed, frequency and reliability of service for shippers" by diverting business north to Stockton, or south to Los Angeles or San Bernardino. While the...
US Coast Guard takes lead to address cyber risks at ports WASHINGTON - When Hurricane Sandy knocked out the primary and secondary communications systems of the Port of New York and New Jersey in 2012, terminal operators, pilots and others turned to older technologies to thwart the further hampering of operations. With landlines and information technology systems down, port workers communicated via VHF...
Oakland port director plans ILWU-BCO forum for discussion Chris LytleThere is no more urgent question facing West Coast port directors in the aftermath of the devastating labor standoff than how to restore the trust of beneficial cargo owners. Yet with it being impossible for port directors to guarantee the reliability of the longshore workforce, finding a solution is...
Capacity surge to pressure Asia-Europe freight rate Surging capacity on the Asia-North Europe route as carriers deploy more ultra-large vessels will intensify pressure on already vulnerable freight rates, according to Alphaliner.Total weekly capacity is set to increase by 9.1 percent in 2015, led by the O3 and CKYHE alliances which will both boost their cargo space by...
Global air cargo soars on Chinese New Year, US port congestion Global air cargo traffic soared by 11.7 percent in February, driven largely by the timing of the Chinese lunar New Year and the congestion at U.S. West Coast ports, the International Air Transport Association reported. There was a surge in shipments in the weeks leading up to the New Year vacation...
OOCL follows G6 partner MOL with 20,000-TEU ship order HONG KONG - The decision by Orient Overseas International Ltd (OOIL) to order six 20,000-TEU ships was widely expected and comes just three weeks after fellow G6 Alliance member MOL ordered six mega-vessels of its own.It will enable the G6 to deploy a string of 20,000-TEU vessels in the Asia-Europe...
New Golden Ocean debuts The shares of newly-swelled Golden Ocean Group Limited (GOGL) began trading on the Nasdaq and Oslo stock exchanges today, following the merger with Knightsbridge Shipping.
Newbuild headed to Florida Holland America Line has unveiled the deployment of its forthcoming newbuilding, the 99,000-gt Koningsdam.
US touts cruise rules The US Coast Guard says proposed security rules for the cruise sector would bring more uniform safety requirements across the industry with minimal costs.
Iraq drops MMS case Iraq has withdrawn a lawsuit filed against Greece's Marine Management Services (MMS) in the court of Piraeus over Kurdish Regional Government (KRG) crude oil transportation.
U-Ming stronger Taiwan's U-Ming has posted better profit for 2014 as revenue rose.
HBC hires five handies Hamburg Bulk Carriers (HBC) has expanded its fleet with the charter of five handymaxes on long-term deals.
Double deal for CPLP Capital Product Partners LP (CPLP) has secured employment for two tankers at improved rates.
Ship sinks off Taiwan Rescuers are searching for 13 seafarers missing after their cargoship sank off Taiwan.
Askins leaves Ince & Co High-profile casualty and piracy lawyer Stephen Askins is leaving Ince & Co for a new role at Tatham Macinnes.
FSL gets firm rate First Ship Lease Trust (FSL) has sealed a firm long-term charter rate for one of its two crude oil tankers.
Rickmers splashes $260m Germany's Rickmers Group has invested in three medium-size eco-containerships being built at South Korea's STX shipyard.
Kherson loss widens Ukraine's Kherson Shipyard has reported a loss of UAH 566.67m ($24.16m) in 2014.
Anek losses trimmed Anek Lines has cut its deficit for 2014 but also saw its revenue and itineraries fall.
Condor gets bum rap Condor Ferries has opened itself up to some light-hearted ribbing online after posting an "embarrassing" safety rap video.
Ocean Yield in tanker play Norway's Ocean Yield has moved into the tanker sector with a $306.8m deal to buy resales for charter to Navig8.
Maersk boxship grounded A Maersk-owned containership that grounded off the Netherlands has been refloated with the assistance of six tugs.
BWO stretches FPSO deal BW Offshore (BWO) has extended the contract for one of its five FPSOs working off Brazil.
HSH slashes loan losses Germany's HSH Nordbank has returned to profit after cutting its shipping portfolio and slashing loan losses.
Euronav confirms pay-out New York-listed Euronav has restored its dividend payments despite posting a loss in 2014.
HRP open for business Newly created shipbroker Howe Robinson Partners (HRP) started trading on Wednesday, with its chairman Peter Kerr-Dineen expressing "high hopes" for the new venture.
Sea Falcon terminated Deep Sea Supply has received a termination notice for one of its PSVs operating in the North Sea.
Paragon results deteriorate Paragon Shipping has posted a fourth quarter loss of $10.2m pushing it to a full year loss of $51.8m figures released late Tuesday show.
OOCL books mega boxships OOCL has ordered six 20,000-teu containerships at Samsung Heavy Industries, the shipowner has confirmed.
LOOP reaches 10bn Louisiana Offshore Oil Port's (LOOP) offshore marine terminal has reached a new milestone offloading its ten billionth barrel of crude oil.
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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