No general increase for German defence members Freight, demurrage and defence (FD&D) insurance premiums for German tramp shipowners will remain unchanged for the tenth successive year in 2016, German defence association Schutzverein Deutscher Rheder informed its members on 29 October. Following a strong surplus for the year 2014 the club's
Mixed outlooks for COSCO, CSDC amid merger rumours China's top two shipping companies have experienced different fortunes amid rumours of merger talks. COSCO slumped into losses for the third quarter ended 30 September 2015 at CNY1.7 billion (USD267 million) against a profit of CNY1.62 billion in 3Q14. The company's revenue was recorded at CNY14.1
NOL slumps into net loss of USD96 million Singapore-listed Neptune Orient Lines (NOL) deepened its losses with a slump of USD96 million for the third quarter ended 18 September 2015, as compared with a net loss of USD23 million in 3Q14. The shipping company's revenue faltered by 28% to USD1.2billion in 3Q15, compared with USD1.6 billion in
Asia-Europe spot rates soar to USD988/teu Asia-Europe spot rates soar to USD988/teu Asia-Europe spot rates soar to USD988/teu Spot rates on the battered Asia-North Europe trade skyrocketed to USD988/teu this week as some carriers appeared to recover the full November 1 general rate increases. While it was not enough to make the year-on-year comparisons positive - the rate was 25% lower than during the same week last year
KSS Line orders another VLGC South Korean chemical and LPG shipping company KSS Line said on 30 October that it had ordered an 84,000 m³ Very large gas carrier (VLGC) worth KRW88 billion (USD77million) from Hyundai Heavy Industries (HHI) in anticipation of winning more long-term shipping contracts. The ship is to be built by
Bahri to renew shipyard project with Sembcorp, Saudi Aramco The National Shipping Company of Saudi Arabia (Bahri) will renew talks with Singapore-based Sembcorp Marine and oil company Saudi Aramco regarding the construction of a shipyard, although an agreement previously signed by the three parties has expired. Bahri, Sembcorp Marine, and Saudi Aramco
Ground-breaking for Wärtsilä factory in China CSSC Wärtsilä Engine Co (CWEC), a joint venture (JV) between Finland-based power supplier Wärtsilä and China's giant CSSC Group, held a ground-breaking ceremony on 28 October 2015. It celebrated the commencement of construction of its new 20,000 m² factory in Lingang, Shanghai. The CWEC JV was
Whistleblower highlights pilot fatigue Australia's transport safety investigation body has highlighted pilot fatigue along with equipment failure and marine work practices in its annual report released on 30 October. The Australian Transport Safety Bureau (ATSB) FY14 report cites 160 marine accidents and incidents, and five major
Daiichi Chuo shares delisted in Tokyo Japanese carrier under rehabilitation continues to seek sponsorship
Fugro cutting ships and staff as oil slump hits subsea Company to try new approach to selling subsea division after failing to find buyer
Bunker association appeals for pragmatism in OW disputes Negotiations preferable, but suppliers retain right to arrest vessels, says IBIA chief executive
Capital Product boosts earnings as fleet expands Greece-based owner inks new tanker charters with Petrobras and Shell
Asia-Europe rates jump threefold Carriers rejoice following successful November GRIs, but analysts warn of increased overcapacity in the weeks ahead
K Line down on supply/demand imbalance Consolidated income down 25% at diversified Japanese operator
NOL losses widen in third quarter as freight rates fall No peak season demand and weak backhaul trade drag down revenue
ACL's new ro-ro/containership heads for Liverpool Boost for Red Ensign as Grimaldi subsidiary pledges to register at least two of its new vessels in UK
Dorian LPG earnings up on newbuilding deliveries New York-listed owner takes advantage of strong spot rates
MOL dragged down by Daiichi Chuo MOL cuts full-year net income forecast by 60.5%
EBRD invests $218m in Morocco's new port Project will be built in the Bay of Betoya
US port projects awarded $44.3m in government grants Five awards will go to projects related to commercial seaports
Port of Venice discharges fully assembled shiploader Italian port handles one of its largest project cargoes to date
Pavilion Energy spearheads Singapore's LNG hub ambitions Company mulls small scale LNG supply development in Southeast Asia
Monarch nominates two independent directors to Scorpio Bulkers board Private equity group's feud with company over corporate governance intensifies
AgTC and TSA unite to address concerns over box weight checks Shippers fear Solas changes could cause significant disruption to supply chain
Seattle and Tacoma ports to adopt five-year capacity upgrade plan Alliance will allocate $39.1m capital budget for 2016
A convergence of conversions Greece retains plenty of ship conversion know-how
In shipping for the long haul Cross-traders focused on big vessels, Greeks are maintaining a high share of tanker and dry bulk business around the globe
Switching to gas Owners are proving adept at financing their expansion in both LNG and LPG shipping
Fewer finance options for the average owner Petrofin's Ted Petropoulos tells Lloyd's List that banks are starting to cleanse their portfolios, but confidence may not return until the market picks up
Suitors line up at Greece's door Most shipowners are adamant they will not be leaving, but maritime centres are circling as instability threatens the status quo
Greek boxship fleet stacks up The gap with Germany, traditionally dominant in containers, has been halved
The private side of public George Greece's most diverse shipowning group is poised to reinvent itself - again
Taking the finger off the trigger? Greeks are still a mainstay of shipping deals, but our poll of leading shipbrokers suggests that more of their clients are cautiously waiting on the sidelines
In sickness and in health Greek shipowners honour their vows to the sea as they continue investing in all industry sectors
Yards count cost of national crisis Stability and recovery of banking system are vital if industry is to be revived
Lunde's admiration for Greek shipowners is longstanding Norwegian-born ship industry leader Dagfinn Lunde talks to Lloyd's List about his special relationship with Greece
Pricing, freight mix push up YRC Worldwide profits YRC Worldwide continued its slow, steady drive back into the black in the third quarter, reporting a net profit of $19.8 million, compared with a $1.2 million profit a year ago. For the first nine months of 2015, the less-than-truckload operator reported $24.2 million in net income, compared with a $73.9...
Shanghai-to-US container rates strengthen Following the lead of freight rates in the Asia-Europe trade, spot rates on the Shanghai Container Freight Index to the U.S. West and East coasts bumped up this week. Carriers have been complaining about the lack of a peak shipping season this fall, but it may be defined this year as...
New Baltiysk container facility aimed at speeding customs processing ST PETERSBURG - Baltic Stevedore Co. said its new nearly two-acre container yard for empties and an inspection point will speed up customs cargo processing and improve inland distribution at the Baltiysk container cargo terminal. The facility is part of Baltic Stevedore's broader $70 million plan to increase capacity from roughly 144,00...
ACL receives first of four innovative con-ro ships Atlantic Container Line has taken delivery of the first of four new container/roll-on, roll-off ships that are the largest of their type ever built and that will expand ACL's unique trans-Atlantic niche. The Atlantic Star will join ACL's trans-Atlantic service in December. Its sister ships will be delivered in the first...
Rotterdam partners with Bank of China to tap 'Belt and Road' push The port of Rotterdam has established a strategic partnership with the Bank of China focused mainly on Beijing's "Belt and Road" strategy to boost trade links with Europe. The alliance was sealed in a memorandum of understanding signed by the Port Authority's CEO Allard Castelein and Dong Weijan, president of the...
Hapag-Lloyd cuts IPO price range on 'market volatility' Hapag-Lloyd on Friday cut the price range for shares in its initial public offering, citing "ongoing market volatility." The German ocean carrier also bumped up the number of new shares in a capital increase after shareholder TUI reduced the number of shares it is willing to offer. The shares will now be...
Revenues flatten out among Japan's 'Big Three' lines Japan's three largest container lines saw their group revenues miss forecasts and remain almost flat in the first half of the current fiscal year, while Mitsui O.S.K. Lines (MOL) slipped into the red.MOL, NYK Line and "K" Line reported their financial results for the first half of 2015, which started...
IAG cargo revenue rises, volume falls International Airlines Group posted a slight increase in cargo revenue in the third quarter despite a bigger decline in volume as the Anglo-Spanish carrier scaled back freighter operations. The British Airways-Iberia carrier's freight revenue edged 0.8 percent higher to 238 million euros [$262 million] in July-September from 236 million euros a...
Gujarat Pipavav volume plunges despite Nhava Sheva diversion potential APM Terminals-operated Gujarat Pipavav Port recorded a 24 percent year-over-year decline in its container volumes during the second fiscal quarter, according to a company statement filed with the Bombay Stock Exchange. It was the second straight quarter of declining throughput at the minor facility on India's west coast Industry analysts wonder...
Hapag-Lloyd cuts IPO price range on 'market volatility' LONDON - Hapag-Lloyd on Friday cut the price range for shares in its initial public offering, citing "ongoing market volatility." The German ocean carrier also bumped up the number of new shares in a capital increase after shareholder TUI reduced the number of shares it is willing to offer. The shares will...
JAL profit surges despite weak air cargo revenue Japan Airlines's net profit surged 28.7 percent year-over-year in the April-September period to 103.4 billion yen ($854 million), as lower fuel prices and cost-reduction efforts more than made up for a decline in cargo operations revenue. Revenue from cargo operations slipped 0.9 percent year-over-year in the April-September to 40.7 billion yen...
Weak freight rates send NOL tumbling to deep loss HONG KONG - NOL's third-quarter results were awash in red ink as the Singapore-listed company reported a third quarter net loss of $96 million, down 300 percent compared to the same period last year as rate levels tumbled on the major trades.The parent of container line APL posted core earnings...
Asia-Europe spot rates more than triple HONG KONG - Spot rates on the battered Asia-North Europe trade skyrocketed 327 percent to $988 per TEU this week as some carriers appeared to recover the full Nov. 1 general rate increases for the first time since anyone can remember.While it wasn't enough to make the year-over-year comparisons positive,...
Revenues flatten out among Japan's 'Big Three' lines Japan's three largest container lines saw their group revenues miss forecasts and remain almost flat in the first half of the current fiscal year, while Mitsui O.S.K. Lines (MOL) slipped into the red.MOL, NYK Line and "K" Line reported their financial results for the first half of 2015, which started...
Despite recent lost, China Shipping to charter 11 mega-ships HONG KONG - Hours after reporting a $160 million net loss in the first nine months of the year, China Shipping Container Lines announced that it planned to charter 11 mega ships of 21,000 TEUs.China's second largest carrier will bareboat charter six of the ultra large container vessels and hold...
Ship operating costs set to rise, survey finds But percentage increase relatively low.
AGUNSA's new barge 'en route to Valparaiso' Replacing previous barge that had operational problems.
CARB warns of sulphur compliance risk when using 'ULSFO' Says products that don't meet distillate specifications are often close to upper 0.10% sulphur limit.
OW test case may go to Supreme Court Decision has implications beyond shipping.
Experienced bunker professional takes purchasing role Kim Gade has left Glander and joined MUR Shipping in Dubai.
Report: Vitol to use chartered ships for oil storage Four of five vessels will be used for 'refined products and a fifth for storage of dirty products'.
Odjfell extends fuel-saving programme By bringing more ships into the programme.
Carnival in fuel-saving move Costa Cruises to get digital monitoring of fuel use.
MAN Diesel claims vessel 'retrofit milestone' 140 units on order, it says.
BV approves concept design for LNG bunker tanker Vessel has a 4,000 m3 carrying capacity for LNG.
Carnival launches fuel, fleet monitoring unit New unit opens in Germany.
Engine manufacturer celebrates vessel 'retrofit milestone' Engines have displayed 'seamless change' between fuel oil and gas operation, it says.
BV approves concept LNG bunker tanker Vessel has a 4,000 m3 carrying capacity for LNG.
Retrofit costs could hamper LNG bunkering uptake According to shipbroker Poten & Partners.
Report: Vitol to use chartered ships for crude storage Four of five ore-bulk-oil carriers will be used for 'refined products and a fifth for storage of dirty products'.
Ship leaking oil off Canada's East Coast Divers have recovered 6,000 litres of the estimated 20,000 litres within the vessel.
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