Island Offshore to postpone deliveries of three Vard newbuildings Island Offshore Group, the privately owned Norwegian offshore services vessel owner, and Vard Brevik, the Norwegian unit of the Italian Fincantieri shipbuilding group, have agreed to postpone the delivery of three newbuildings due to weak markets. Island Offshore has ordered three platform supply
Euronav obtains USD750 million ship finance facility Antwerp-based tanker operator Euronav has signed a USD750 million financing facility with a group of leading banks that it says will be used to finance its recent order for four new VLCCS, as well as to refinance 21 vessels already in its fleet. Euronav announced in June that it was buying four
NYK opens new ro-ro terminal in India Booming auto production in India has spawned a new ro-ro terminal that has opened in Pipavav in the northwestern state of Gujarat. The terminal is jointly operated by NYK Auto Logistics (India) and Gujarat Pipavav Port Ltd, a subsidiary of APM Terminals. The first shipment of 1,380 Figo Aspire
Bureau Veritas H1 marine profits up 36% The marine and offshore business of French classification society Bureau Veritas showed strong revenue and profit growth in the first quarter of 2015. Adjusted operating profit jumped 36% year on year to EUR54.7 million (USD61.4 million), while revenues kept pace with 34% growth to EUR202.2
VLOC sale belies quiet recycling market The sale of a Very large ore carrier (VLOC) during week 35 has belied the quiet recycling market. Shipbrokers said that General Ore International's 1990-built VLOC Rebekka N was sold for USD11,899,875 or USD325 per ldt for demolition in Pakistan. However, Dubai-based cash buyer Global Marketing
Peace deal signed in MyFerryLink dispute Two former MyFerryLink vessels that have been occupied by their former French crews since the end of June are to be freed on 2 September, after a peace agreement was reached in Paris yesterday evening. The two vessels, Berlioz and Rodin, were taken over by crew members after their owner Eurotunnel
Seoul urges Sewol victims to seek compensation South Korea's Ministry of Oceans and Fisheries held a seminar to advise the families of 149 victims of the Sewol ferry disaster who have yet to seek compensation, ahead of the 30 September deadline for filing claims. The families are living in Ansan, where many of the passengers came from. The
Evergreen launches new ship for Asia Pacific-Middle East service Taiwanese carrier Evergreen announced it has deployed a new L-type vessel for its Asia Pacific-Middle East service starting on 31 August. Named Ever Lifting, the 8,508 teu box ship is the 10th L-type vessel built by China Shipbuilding Corporation (CSBC) in Taiwan, and was delivered on 31 August.
Sembcorp Marine wins $1Bn North Sea job Singapore-listed offshore services provider Sembcorp Marine has won an engineering, procurement and construction (EPC) contract worth over USD1 billion for the Culzean field development project in North Sea. The contract was signed by its subsidiary SOME with Maersk Oil North Sea UK to build a
Fengfan to buy CISC's power businesses Fengfan Stock Limited (Fengfan), the listed branch of China Shipbuilding Industry Corporation (CSIC), has announced it will purchase assets owned by CSIC's power businesses for CNY14.4 billion (USD2.3 billion). The company will issue 772 million shares at CNY17.79 each to CSIC Group, CSIC
Indonesian Navy arrests tanker hijacking suspect The Indonesian Navy has arrested the alleged "mastermind" it says was behind the hijacking of the Malaysia-flagged oil tanker MT Orkim Harmony in June. According to the Indonesian Navy, a suspect identified as Albert Yohanes was apprehended at an apartment in Grogol Petamburan, West Jakarta, by the
Port of Osaka's cargo traffic falls in May Cargo traffic at Port of Osaka in western Japan fell 13.9% year on year (y/y) in May to 6.205 million tonnes as both domestic trade and foreign trade shrank sharply. The preliminary figures were released by the Osaka municipal government on 31 August. Of the total cargo traffic in May, 2.721
CMHI's 1H profits up 29% China Merchants Holdings (International) (CMHI)'s profits have risen 29% year on year (y/y) to HKD2.8 billion (USD361.3 million) in the first six months of 2015 due to a growth in port-related manufacturing operations. Profits derived from the group's core ports operation grew 10% y/y to HKD2.4
Stena Bulk denies New York listing plans Tanker boss says he is in New York to meet other owners and financial people, not seek a New York listing
DFDS settles Calais ferry dispute Deal allows Danes to increase ex-Dover timetable
StealthGas prioritises stock buybacks But some investors press for tender to hasten results
StealthGas eyes more scrapping to help boost small LPG market Rates have suffered in the smaller carrier segment despite solid demand
Seasoned reporters bolster Lloyd's List editorial team Four new starters in London and Singapore
Pangaea bulker in new ice voyage 'first' Nasdaq-listed operator foresees ore from new Baffin Island mine as bringing 'significant employment'
French-Chinese consortium lands Cameroon concession CMA-CGM, Bolloré and CHEC win race for new 1.4m teu capacity box terminal
Is another bunker supplier about to go bust? US-based Bunkers International files Chapter 11 protection
Product tanker earnings to take a hit, warns Drewry New vessel capacity from so-called swing tankers will exert downward pressure on earning power in 2016-2017
Swire Shipping upgrades Asia-Pacific services Swire Shipping raises multipurpose liner service frequencies in Southeast Asia, Australia and New Zealand
Finnish government backs automated shipping Nordic state seeks to create legislation that will make it easy for business-led automation projects covering unmanned transport
China Shipbuilding Industry Corp to consolidate engine business Shanghai-listed Fengfan Co will be made a leading ships' engine maker in $4.4bn restructuring plan
Euronav secures $750m bank loan Credit facility to be used to finance tankers
Grainger acquires UK distribution business, expands online Industrial products distributor W.W. Grainger closed its acquisition of U.K.-based Cromwell Group, an independent distributor with online sales channels in Europe, for approximately $425 million. The Chicago-based company said it will use its supply-chain expertise to accelerate Cromwell's growth online and to expand its own European online sales business. "We have...
US diesel prices hit six-year low as oil prices rally Truck drivers buying fuel in the U.S. must think they've found an exit ramp to 2009. At $2.514 per gallon, the average U.S. retail price of diesel fuel hit a low Aug. 31 it hasn't seen since July six years ago, when the U.S. economy was just emerging from the...
App aimed at improving truck turns at Boston port Truckers serving Conley Container Terminal at the port of Boston can use a newly-launched app to find out when containers are ready to be picked up, another sign of how technology is being tapped to improve port productivity The app, developed by Tideworks Technology, allows users to search for containers by...
Vessels delays at Oakland port end as peak season nears After a summer-long buildup of vessels at anchor due to a lengthy labor shortage, the Port of Oakland on Tuesday reported that for the sixth straight day, vessels were not being delayed upon their arrival in port, giving shippers hope that the worst is behind them. "Ships are arriving in Oakland...
Menlo Logistics expands in Europe as e-commerce sales rise The European economic recovery may be wobbly, but e-commerce is flourishing, driving corporate mergers and acquisitions and investment in logistics facilities as online retailers work to build supply chains that can deliver goods to online shoppers from Portugal to Russia. U.S.-based Menlo Logistics is partnering with industrial real estate developer Prologis...
Transplace appoints industry veteran to head brokerage division Transplace has appointed Brian Kenney, a long-time logistics industry executive, as senior vice president of Transplace Capacity Services. Kenney has previously worked with C.R. England, C.H. Robinson, Celestica and Trinity Logistics in roles spanning marketing and sales, supply chain solutions and national account management. Capacity Services is the brokerage arm of...
International Non-Stop: Facilitating Direct Commodity Sales Between Growers and Buyers A paradigm shift is occurring within the commodities shipping industry. More and more, foreign entities want to skip the traditional way of purchasing their products where there has been a merchant in between the seller (grower) and the buyer (foreign company). Similarly, sellers are showing a preference toward direct sales to...
SEKO taps former technology company exec Lee as COO SEKO Logistics has appointed Rick Lee, an industry veteran who most recently led global logistics at a technology company, as chief operating officer. Rick LeeLee, whose previous experience includes stints at FedEx and CEVA, has spent the last four years as vice president global logistics, service parts supply chain and strategy...
'System outage' halts operations at APMT Mumbai Trucks lined up outside JNPT.APM Terminals-operated Gateway Terminals India is showing no signs of getting ahead of the disruptions, labor or otherwise, that have halted operations at the largest container facility in Jawaharlal Nehru Port Trust at different times during the past year. In its latest trade advisory on Tuesday, warehouse...
LA-LB truckers fear appointment systems won't reduce congestion enough Harbor truckers in Los Angeles-Long Beach sincerely want terminal operators to succeed in their ground-breaking plan to develop a system of appointments throughout the harbor. But they fear that the logistics involved in coordinating as many as a dozen stand-alone trucker appointment systems will be very difficult to arrange. Truckers' are...
Carriers begin to lift JNPT surcharges OOCL and Emirates Shipping Line on Tuesday lifted their emergency surcharges imposed earlier for import cargo handled at Jawaharlal Nehru Port Trust, India's biggest container gateway, citing an improvement in port operations. The withdrawal, coming on the eve of fresh disruptions due to a threatened dockworker strike on Wednesday as part...
China factories post sixth month of declining output HONG KONG - China's manufacturing output contracted for the sixth consecutive month in August as two purchasing manager's indexes confirmed that the world's second largest economy is deep in slowdown mode.The Caixin-Markit manufacturing PMI reading fell to 47.3 in August, down from July's 47.8 and hitting the lowest level in...
US containerized exports forecast to drop 2.4 percent this year Sluggish global demand has made this a rough year for U.S. exporters, with no quick recovery in sight. Volume of U.S. containerized exports is expected to drop 2.4 percent this year after a 2.3 percent decline in 2014, said JOC Senior Economist Mario O. Moreno. Reasons include the strong dollar, China's...
Steady diet of gloom in July air freight data HONG KONG - No one expected good news to come out of July's air freight business and each new set of data serves to further confirm the dismal state of the world's air cargo industry.Growth in July was the lowest so far this year, and while the figure was positive,...
China factories post sixth month of declining output HONG KONG - China's manufacturing output contracted for the sixth consecutive month in August as two purchasing manager's indexes confirmed that the world's second largest economy is deep in slowdown mode.The Caixin-Markit manufacturing PMI reading fell to 47.3 in August, down from July's 47.8 and hitting the lowest level in...
New seafood plant to further fuel Savannah port reefer growth A new seafood production and distribution center will fuel refrigerated imports through the port of Savannah, building on the port's double-digit inbound reefer growth experienced last year. Trident Seafoods, one of the largest U.S. seafood companies, will pull reefer cargo from Savannah to its $40 million production and distribution center in...
NY-NJ port unveils web portal for cargo information The Port of New York and New Jersey has introduced a central web portal to enable truckers and shippers to check container availability, export booking status and other information before drayage drivers are dispatched to terminals. Creation of a port community system for online sharing of information was one of the...
US Customs extends ACE single window deadline WASHINGTON - U.S. Customs and Border Protection said Monday that it's extending its November deadline for the ACE "single window" program until February, after a rash of complaints and concerns from brokers, shippers and others who said they aren't ready for the new system. Many U.S. shippers have told the agency...
Paragon bulker resales 'probable' Paragon Shipping sees it as "probable" that it will sell its orderbook of five bulker newbuildings, the shipowner said as it reported a slump in second-quarter earnings.
Suezmaxes' turn in rout Suezmax crude tankers are taking a turn as leaders of the seasonal spot market slump for the wet sector.
More Golden tickets mulled Golden Ocean Group Ltd (GOGL) is asking shareholders to vote on a measure that would give the New York and Oslo-listed bulker owner ammunition to raise more cash.
Swire pumps up Pacific Swire Shipping is boosting its Pacific services with the reintroduction of a loop from Brisbane, Australia, and additional sailings elsewhere.
Nordic crosses the Arctic Nordic Bulk Carriers has completed the first panamax bulker transhipment from Canada to Europe through the Arctic Sea.
Grinding to a halt French ferry workers reportedly blockaded two MyFerryLink ships in Calais over the weekend in order to retrieve coffee machines.
Bulker and tanker collide Two vessels involved in accident late Monday night in Turkey's Bosporus strait.
Riga Shipyard refocuses Latvia's Riga Shipyard is facing up to more intense competition in the shiprepair and newbuilding arenas by trying to diversify.
Greece plots new terms Greece has reportedly decided to revise the sale terms of the port of Thessaloniki, as it did with Piraeus.
New yard plan proposed The Indian government is considering introducing a new subsidy scheme to help ailing domestic shipyards.
Titanic II delayed Australian tycoon Clive Palmer's $500m replica newbuilding of the Titanic will be at least two years late.
MES goes for bonds Mitsui Engineering & Shipbuilding Co (MES) has lined up a bond sale in Japan.
Mipo adds double South Korea's Hyundai Mipo Dockyard has won its second order in two days.
Channel dispute ends An ongoing dispute regarding the English Channel seems to have ended after a deal was reached between French workers, Eurotunnel and DFDS.
Anek posts smaller loss Anek Lines has seen an improvement in its first half results compared to a year ago. However, it still made a loss.
Subsea 7 wins $150m deal Oslo-listed Subsea 7 has scooped a $150m-plus contract to install a gas export pipeline in the North Sea.
Euronav bags $750m loan Euronav has secured a $750m loan to help fund its acquisition of four VLCCs from Metrostar and refinance debt on 21 other vessels.
Team deals out incentives Team Tankers' chairman and CEO are set to share 3.5m shares in the company as part of their respective incentive packages.
PIL orders again Pacific International Lines (PIL) is back at Yangzijiang Shipbuilding for another round of containership newbuildings.
Ferguson favourite Scottish shipyard Ferguson Marine is in pole position to land a lucrative new contract for two large ferries.
Polarcus heads south Middle East owner Polarcus has clinched a new seismic survey contract off Brazil.
Culzean gets green-light Development of the largest gasfield to be discovered in the North Sea in a decade is set to go ahead after receiving UK government approval.
Rotterdam eyes Indonesia Rotterdam is looking to muscle in on the container terminal trade in Southeast Asia with plans for a new facility in Indonesia.
MIT expansion on track Manzanillo International Terminal-Panama (MIT) has made further progress on its $270m expansion with the arrival of four new gantry cranes.
Maersk ship exits US A Maersk Line containership has exited the US-flag fleet but an International Shipholding (ISH) car carrier has returned after an eighth-month departure.
Anek sheds less red Greek ferry operator says it has seen its best pre-tax performance in eight years.
Titan Petrochemicals: Restructuring plans still on track If subscribers commit to open offer before revised deadlines, says firm.
LNG fuelled tug ready to start operations The tug is believed to be one Japan's first LNG powered vessels, other than LNG carriers.
Alaska Marine Lines to reduce fuel surcharge rates Files for rate reduction with US Surface Transportation Board.
China plumbs for ECAs But it is unclear whether sulphur cap is included in five-year plan.
Newbuild order will add to capacity glut 'At some point, oil prices will go up and operators that sail ultra large ships will have a clear advantage.'
Finland backs unmanned shipping research Autonomous transport focus of multi-layered research project.
How will Iran's nuclear deal affect oil markets? The fight for market share is no longer simply an OPEC-versus-non-OPEC story.
China wants wholesale switch to cold ironing Ministry of transport wants 90% of ships visiting the country's major ports to be using shoreside power by 2020.
Lower fuel prices come to aid of ferry company And enhance full-year prospects.
Cruise sector wins 'major concession' as sulphur rules tighten Australian state gives three-year waiver to cruise ships intending to install scrubbers.
New LNG fuelling method readies for take off Gas fuel supply to be renewed on every round trip.
LNG-powered newbuilds to join Scottish fleet Dual-fuel ferries to enter service in 2018.
Bring on the new ECA fuels Every shipowner should seriously consider consuming these alternatives to MGO.
Report: Iranian oil exports hit 6 million bpd 'Gaining the top position in oil terminals in Persian Gulf and in the Middle East has been defined as an important and strategic objective in Iran's oil industry.'
Drybulk carrier owner receives 'eco-design' vessel Vessel's daily fuel consumption six metric tonnes lesser than other designs.
Titan Petrochemicals: Restructing plans still on track If subscribers commit to open offer before revised deadlines, says firm.
Report: Iranian oil exports hit 6 million barrels per day 'Gaining the top position in oil terminals in Persian Gulf and in the Middle East has been defined as an important and strategic objective in Iran's oil industry.'
Firm orders MHI's gas engine system System has 'low power consumption', and'reduces emissions'.
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