Hyundai's GAIL tender under threat after L&T exit South Korean shipbuilder Hyundai Heavy Industries (HHI) has been landed in a crisis to win orders from global fleet owners after its Indian partner, engineering and construction firm Larsen & Toubro Ltd (L&T), pulled out of a collaboration. This was for building nine new LNG carriers to be used by
Deficient SMS blamed for enclosed space deaths A casualty report into the enclosed space multiple deaths on board the bulk carrier Sally Ann C in March this year has been released. It points to an incomplete safety management system (SMS), absence of warning notices in the danger spot, and "impulsive actions" as among the causes of the
Tauranga dredging finally under way After court battles lasting more than four years, the New Zealand port of Tauranga is widening and deepening its shipping channels from 12.9 m to 14.5 m inside the harbour, and 15.8 m outside. The work is being carried out by Danish dredging contractor Rohde Nielsen and is the final building block
US sees LNG bunkering failures American regulators recommend vessel operators review safety procedures based on recent 'near misses' that have occurred during bunkering operations. The US Coast Guard's Liquefied Gas Carrier National Center of Expertise (NCOE) in Port Arthur, Texas, which issued the notice on 25 September,
TSHD Hondarra delivered to Bayonne Dutch-Spanish co-operation between Damen Dredging Equipment (DDE) and Bilbao-based Astilleros de Murueta shipyard has seen the first dredger for the Chambre de Commerce d'Industrie de Bayonne Pays Basque delivered successfully after extensive trials. The 1,200 m³ trailing suction hopper dredger
MES buys German liquefied gas tank maker Japanese shipbuilder Mitsui Engineering & Shipbuilding (MES) has acquired German liquefied gas tank maker TGE Marine AG. MES said it will pay EUR164 million (USD200 billion) to acquire TGE Marine from its owners, which comprise Caledonia Investments, Gasfin Investment, and Dr Kuver GbR. The latter
BHP favouring met coal as thermal exports plunge Australian thermal coal exports to China have plunged 35% to date this year, with one economist this week predicting exports could be at virtually nothing within five years. Tom Pugh, commodities economist from Capital Economics, forecast China is moving more rapidly than predicted to domestic
Stolt-Nielsen interims firm as tankers' bunker bill falls Stolt-Nielsen, the listed London-based chemical tanker, tank terminal, and tank containers group, has reported a higher profit for both the third quarter of 2015 and the first nine months of its financial year, largely attributed to the lower bunker costs of its 150 strong chemical tanker fleet.
Gyxis secures another VLGC contract Japanese LPG trading house Gyxis Corporation has sealed its third timecharter contract in two months. Compatriot shipping company Kumiai Navigation has ordered an 82,200 m³ very large gas carrier from Kawasaki Heavy Industries to service a shipping contract with Gyxis. On 30 September 'K' Line
Cargill, Navios, NYK, Vale among Daiichi Chuo's creditors Details of embattled Japanese outfit Daiichi Chuo Kisen Kaisha's creditors have emerged in its Chapter 15 filing in the US. The list obtained by IHS Maritime shows trading houses Cargill, Bunge, shipowners Navios, Hyundai Merchant Marine, Nippon Yusen Kaisha, Korea Line Corporation, Sanko
Claims for three-quarters of Sewol victims filed by deadline As compensation claims for the Sewol ferry disaster closed on 30 September, 75% of victims' families and survivors had made filings. Sewol, carrying 476 passengers and crew on a routine Incheon-Jeju trip, capsized on 16 April 2014, leaving 304 dead or missing. Many of the dead were students and
Lines urged to share containers to save money Shipping lines can save money by sharing or pooling containers, reducing the need for empty container repositioning, according to a logistics specialist. Lalith Edirisinghe, head of the Department of Logistics and Transport at Sri Lanka's CINEC Maritime Campus, is working on a 'virtual container
Beaching ban proven to be short-sighted says cash buyer Cash buyer GMS has said that the certification of two Indian ship recycling yards as compliant with international shipbreaking standards proves a ban on the beaching method would be "short-sighted". In reference to the continuing debate over whether the European Ship Recycling Regulation (EU SRR),
Safe Bulkers confirms single-ship exposure to Daiichi Risk is limited to one panamax and owner has so far been paid
Sinotrans Shipping further beefs up its fleet Hong Kong-listed ship operator ordered six handies to join its already expanding fleet
BW Group's LNG newbuilds part of vital fleet renewal in rapidly changing industry More options to be declared, which means further LNG newbuilds from Andreas Sohmen-Pao's ambitious energy shipping group
Spain seeks to overturn Prestige acquittals State prosecutor takes lower court ruling to supreme court
Panama Canal Authority reveals cause of lock leak No formal confirmation as to whether the incident will delay the opening of the waterway's third locks
Nigeria seizes ship on suspicion of oil smuggling Vessel named as Akja held in Forcados estuary
Hapag-Lloyd secures finance for newbuildings German line reduces interest rate burden
Yilport acquires Portuguese port operator Tertir Turkish company moves to add 10 terminals to its growing portfolio
Tanker Investments withdraws $20m open market tender U-turn leaves the company focusing on its share buyback programme instead
Stolt-Nielsen wary over tanker division improvements Stolt Tankers' better result built on lower bunker costs and strong US dollar, rather than freight market fundamentals
Tonga to boost maritime and land transport safety World Bank funding consists of $2m grant and $2m in credit
K Line to recognise loss on securities writedown in second quarter Market turmoil of recent months may cause downward revision of yearly profits
China's bid for balance spells bad news for dry bulk Analysts cast doubt on any quick relief for bulker owners
Kalmar lands Melbourne automation contract Eight more automatic stacking cranes for ICTSI's landmark Australia facility
Algoma orders three bulkers from Croatia's Uljanik Shipyard Trio will join Canadian company's Great Lakes-St. Lawrence Waterway fleet when delivered in 2018
Daiichi Chuo revelation in Chapter 15 filing points to charter costs Company owes more than $1bn to 596 creditors
Singapore port authorities offer funding to build LNG-fuelled vessels The move is in line with the port's target to become an LNG bunkering hub
Saigon Port to list shares and commence trading The port operator's biggest shareholder is looking to sell more shares to private investors
US government orders ILWU to cease labour law violations at Portland port Move upholds a previous ruling regarding slowdowns and work stoppages at the port's container terminal
Teekay confirms $1bn loan agreement with Cexim Loan facility will be used to finance newbuilding projects at Chinese shipyards
JT Cement's first dual-fuel bulker to be delivered October 31 The LNG-powered cement carrier is the world's first dual-fuel bulker fitted with a six-cylinder dual-fuel engine
Container ship operators told cost cutting is the 'new normal' Container ship operators are being told that finding new ways to cut costs to stay profitable is the "new normal" in container shipping. The discipline is being imposed on them, in part, by orders for large newbuildings, which will postpone cyclical recovery. In principle, the law of diminishing returns applies in cost...
Higher clearance for Bayonne Bridge delayed to late 2017 Targeted completion of a $1.3 billion project to raise the clearance for ships passing under the Port of New York and New Jersey's Bayonne Bridge has been pushed back more than a year, until late 2017. It's the second delay for the complex engineering project. Last year, the Port Authority of...
Falling fuel surcharges cut into US transportation costs Lower fuel prices and lower fuel surcharges are slowing the increase of freight shipping costs on both sides of the U.S. border or even reducing them, despite higher contract trucking rates. The latest evidence for this trend comes from the Canadian General Freight Index. Total transportation costs for Canadian shippers dropped...
Eurogate acquires stake in Santos intermodal provider German port operator Eurogate has acquired a 16.67 percent interest in Contrail Logistica, a Brazilian provider of rail intermodal service in the hinterland of Santos. Contrail has only a 2 percent share in the region's rail market, but the company has said it has the potential to snag as much as...
Repairs to leaky locks could further delay Panama Canal opening Repairs to the Panama Canal's new locks will be more extensive than previously indicated, and the date for their completion is uncertain. The central concern for the shipping industry is the extent the leak repairs could delay the commercial opening of the expanded Panama Canal, which is scheduled for April. The...
Container lines told cost cutting is the 'new normal' Container carriers are being told that finding new ways to cut costs to stay profitable is the "new normal" in container shipping. The discipline is being imposed on them, in part, by orders for large newbuildings, which will postpone cyclical recovery. In principle, the law of diminishing returns applies in cost...
Major carriers, feeder operators cut capacity to ailing Venezuela Falling containerized cargo to Venezuela is forcing major carriers and feeder operators to cut capacity as they grapple with poor port productivity. "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 is that the private...
Congressional 'train wreck' looms over PTC Lawrence J. GrossA multitude of panelists at the FTR Annual Conference once again tried to peek over the horizon to evaluate the future of freight. For me, the biggest take-away from the event is the growing likelihood of yet another freight disruption, courtesy of the U.S. government. And this one...
Peel off method gaining momentum as port congestion fighter SAN DIEGO - The terminal operator of the future in high-volume ports must eliminate multiple handling of containers and reduce truck wait times within the yard in order to handle cargo surges from big ships, logistics experts were told Wednesday. A process known as free flow, or peel off, is attracting...
Zim upgrades Asia-Mediterranean loops Zim Integrated Shipping Services announced it is upgrading its Asia-Mediterranean service network, comprising the East Med-Black Sea Express, or EMX, and the Asia-India Subcontinent East Med, or AME, by adding new port calls and upsizing tonnage deployment. The changes on the EMX, employing a fleet of 10 vessels, include additional weekly...
UP expands Texas intermodal terminal to handle rising cross-border traffic Booming business at Union Pacific Railroad's intermodal ramp in North Laredo, Texas is spurring a $90 million expansion at the facility tapping U.S.-Mexico cross-border trade. The first phase of the project, slated for completion in 2016, includes the acquisition of approximately 37 acres, the opening of a new entrance, installation of...
The Miami mauler Morten Arntzen has been missing from the shipping lecture circuit for some time now, but it's no stretch to say he's back with a bang.
Insider tapped for Stolt Tankers Stolt-Nielsen has tapped company insider Mark Martecchini to lead its tanker wing after the resignation of Hans Feirenga this summer.
OW-GMI fight revealed A UK judge has ruled that Global Maritime Investments (GMI) does not have to pay OW Bunker the $1.6m that trustees of the collapsed fuels supplier allege should be paid under a derivatives deal, a just-released ruling shows.
Telling a dirty story Investors slow to get excited about stronger performance in the crude market will eventually see the light, although how quickly remains a question.
Roubles at the ready The Russian government is prepared to back the domestic shipbuilding industry with increasing levels of investment.
Unipec lights VLCC fire A burst of activity from Unipec has sent an already hot VLCC market towards year to date highs as it enters the traditionally strong final quarter.
The case of the missing oil UK authorities have revealed how a boxship crew was baffled as to why 10,000 litres of oil kept disappearing from a tank.
GDD buys Rotterdam yard Shipyard company German Dry Docks has acquired Rotterdam Ship Repair.
Milestone pool ended Jo Tankers of Norway and Tokyo Marine Asia of Japan have stopped doing business together through the Milestone Chemical Tankers pool.
Champion deal for ECO Edison Chouest Offshore has secured a contract extension from the US government for one of its support vessels.
Rokke tidies up Kjell Inge Rokke's Aker ASA has transferred its equity holdings in Aker Philadelphia Shipyard (AKPS) and American Shipping Company (AMSC) to a subsidiary.
Ince hires Quandt in Hamburg Ince & Co has hired the Dr Christopher Quandt as a new partner in its Hamburg office.
Giving the game away A drunken bulker master aroused suspicion during a call to authorities asking for pilot help off Denmark.
Hapag nets $372m loan Hapag-Lloyd has secured long-term financing for five boxships ahead of a $500m initial public offering (IPO).
TIL ditches tender Tanker Investments Ltd (TIL) has withdrawn a tender offer it announced two days ago.
Chao takes on HK role Wah Kwong chairman Sabrina Chao is set to become the first woman to head the Hong Kong Shipowners' Association.
Stolt doubles profit Stolt-Nielsen has boosted its earnings for the third quarter thanks to lower bunker costs and a supportive spot market.
Large Ezra stake sold DNB Bank has bought a significant shareholding in struggling offshore services company Ezra Holdings.
Subsea 7 tears up shares Oslo-listed Subsea 7 has cancelled the last of its treasury stock following recent buybacks.
Canal steel lacking The Panama Canal Authority (ACP) has revealed water seepage in the waterway's new locks is a result of "insufficient steel reinforcement."
K Line takes shares hit Japan's K Line is booking a substantial loss from a revaluation of investments in securities.
DESS lays up more PSVs One quarter of John Fredriksen-backed company's PSV fleet now without employment.
Gyxis makes it a trio Gyxis Corporation has secured a third VLGC newbuilding on long-term charter, the Japanese company has confirmed.
BW FSRU reaches Egypt BW Group's latest LNG floating storage and regasification (FSRU) newbuilding has reportedly reached Egypt.
Trafigura founder dead Trafigura's founder and executive chairman, Claude Dauphin, has died the Swiss-based commodities giant has confirmed.
Glencore: Shipping sector alert to counter-party risks 'People are not openly talking about it, but I guess they will be,' says tanker owner.
OW trustees go Danish in pursuit of derivative debt Move will try to unlock fuel oil derivatives held under English law.
Fuel oil stocks up more than 30% year-on-year Inventories marginally higher week-on-week.
'Degree of urgency' about China's ECA plans China's focus on emission reductions will boost prospects for LNG.
Danish shipowners: Tougher ECA enforcement needed Association worried ECA non-compliance may damage their competitiveness.
Stolt's quarterly profit up On back of cheaper bunkers.
Glencore: Shipping sector alert to counterparty risks 'People are not openly talking about it, but I guess they will be,' says tankler owner.
New hire for Dan-bunkering Beijing office now comprises four staff.
MPA: Climate change is among world's most significant threats' Call for global network of maritime technology cooperation centres.
Ideas float at Singapore-based maritime technology event Delegates mull concept of global maritime technology cooperation centres, among others.
ExxonMobil enters million-dollar biofuels study Company keen on using alternative fuel source to produce bunkers and other fuels.
Board at Titan Petrochemicals undergoes restructuring Five board members affected by development.
Chairman of IBIA unhappy with IMO politics on bunkers Says regulations place huge burdens on owners but fail to address supply side with regards to quality and preparing for the global 0.50% sulphur cap.
Shell to cut 1,300 jobs in Malaysia Over next two years.
WTI settles on low note Capping lowest quarterly average price since beginning of 2009.
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