Jiangsu Yangzijiang signs contracts for two self-unloading bulkers China's Jiangsu Yangzijiang Shipbuilding has secured its latest order, winning a pair of self-unloading Laker bulk carriers. Ordered by Algoma Central Corporation, the contract is for two Equinox-class 29,300 dwt vessels with delivery scheduled for the first half of 2018. The 225m length overall Seaway Max self-unloading bulkers will join the company's...
Container spot rates predicted to be higher in 2016 The long-term outlook for post-Panamax ships seen as challenging. Credit: AffeldtSpot freight rates in container trades should stage a marked recovery next year, but short lived successes with general rate increases (GRI) should not be regarded as evidence of a fundamental improvement between supply and demand, a senior shipping analyst...
DSME gets financing to fund Sonangol drillship orders A DSME shipyard. Credit: DSMESouth Korean export credit agency Korea Trade Insurance Corporation and its Norwegian counterpart Norwegian Export Credit Guarantee Agency have granted a USD620 million in export financing to Daewoo Shipbuilding & Marine Engineering to finance the construction of two drillships that were ordered by Angolan oil company...
Australian wage-dispute coaster crew refuses to sail Portland. Credit: Kevin FinniganThe campaign against 'cheap' foreign crews sailing in Australia's coastal trade has taken an acrimonious turn with Australian seafarers on board bulk carrier Portland defying an order to sail the vessel to Singapore where the ship was due to be decommissioned. A sit-in by the Alcoa-owned vessel's...
First Roy Hill iron ore shipped from Australia Hancock Prospecting's Gina Rinehart. Credit: PABulk carrier Anangel Explorer loaded the first shipment of iron ore out of the Roy Hill's South West Creek Wharf at Port Hedland in the Australian Pilbara today (1 December). Ore from the AUD10 billion Pilbara mine destined for China on board the Greek flagged 87,582 gt vessel...
Onassis Group to sell two VLCCs Olympic Legend. Credit: Malte SchwarzGreek shipowner Onassis Group has put two of its Very large crude carriers (VLCCs) on sale, taking advantage of the firming oil tanker market. IHS Fairplay was told by shipbrokers that the 2003-built 309,270 dwt Olympic Legend and 2005-built 306,997 dwt Olympic Leader, are now for sale....
Pan Continental orders ship for Southeast Asia service Ship welding. Credit: PASouth Korean intra-Asia container carrier Pan Continental Shipping has ordered an 1,800 teu ship at compatriot shipbuilder Dae Sun Shipbuilding & Engineering. The ship, with a length of 172 m, width of 27 m, and height of 13 m, is to be delivered by May 2017, the shipbuilder...
Drone ships on the horizon, but unlikely in next decade Remote-control workstations. Credit: HIT Drone cargo ships, known colloquially as 'ghost' ships, are unlikely to start operations within the coming decade and an intermediate step of partially automated ships with much reduced crew levels should be expected beforehand. A study on key technologies impacting the ports and logistics sector commissioned by global...
Japan's ClassNK to implement new container ship construction rules next year Japanese classification society ClassNK has made amendments to its rules and guidance for container carrier construction, which will apply to ships contracted for construction on or after 1 April 2016. Triggered by the sinking of Mitsui OSK Lines' container ship MOL Comfort, which caught fire, broke into two, and sank off the coast...
Cosco-China Shipping talks extended to January, say carriers No speedy resolution to China Shipping-Cosco talks that have been extended into the new year.HONG KONG - Talks between state-owned giants Cosco and China Shipping will continue into the new year, the groups said in exchange filings, six months after trading in shares of their listed subsidiaries was suspended.The lengthy...
Tanker giant reborn as Fredriksen seals merger Frontline's John Fredriksen. Credit: Chris Preovolos/CMA.Shareholders approved the merger of Frontline and Frontline 2012 on 30 November, officially heralding the return of shipping magnate John Fredriksen to the upper echelon of the publicly traded tanker arena. In 2011, Norwegian OTC-listed Frontline 2012 was split off from NYSE- and Oslo-listed Frontline...
Port of Oakland lifting cranes to boost global trade The $14m project will begin in April 2016 and will take to up one year to complete
TEN wins long-term suezmax charter with an oil major Starting in December 2015, the fixture is expected to generate approximately $18.5m in total gross revenue
LA/Long Beach poised to receive first 18,000 teu ship Boxing Day treat as southern California prepares to welcome CMA CGM Benjamin Franklin
Rio Tinto approves new Queensland port and mine Boyd Bay development is part of $1.9bn Amrun bauxite project in Cape York
Release of product stocks will be a shock to the market, warns Maersk Tankers Reduction in storage due to price changes will dent product tanker demand in short term, says Christian Ingerslev
Pretend and extend is running out of road, Petropoulos warns Shipping could be moving from cycles to permanent over supply, according to big name banking analyst
Nomura paints bleak outlook for container shipping But to prevent the supply/demand imbalance from worsening, lines have a choice - return vessels or face the consequences, says study
Supras look to a better month Brokers suggest less volatile supramax rates for December
Jurong Port, Oiltanking to build new Singapore storage terminal Facility will support increasing demand for petroleum storage in Singapore
Wallenius Wilhelmsen Logistics to double service frequency to US west coast from Europe Move could increase transhipment opportunities to Latin America, the Caribbean and Asia
Suezmax and aframax rates flat on steady Middle East and West Africa demand Middle Eastern crude has become cheaper for Asian buyers
Dismal dry bulk market deepens Jinhui Shipping's net losses Results also hit by significant investment portfolio losses
UK shipping companies must switch to digital tax filing Chancellor Osborne changes rules in Autumn Statement
New shipping bank set to open in the new year Superstar-backed M&M good to go with $140m equity
Blueprint for electricity-driven 20,000 teu boxship unveiled CMA CGM, DNV GL and GTT reveal details as climate change talks start in Paris
LA/Long Beach ship count on target as congestion nightmare fades Marine Exchange of Southern California reports vessel numbers holding up, though long term trend is down
Divestment and ship chartering weakness hit Marco Polo Marine revenue Demand for tug, barges expected to remain challenging amid weak market
JERA inks LNG business agreement with Pavilion Energy unit Company expects Southeast Asia LNG demand to grow
EBRD to support Interorient Shipmanagement fleet expansion Loan aims to help recovery of the Cypriot economy by raising business activity in shipping
Steady VLCC spot rates generate impressive $71,200 per day November average Lack of significant rate rises and drops generated steady market conditions
Industry viewpoint: Somali piracy suppressed but not eradicated Hard-won advances made in combating piracy are at risk of being worn away without constant ongoing vigilance and the establishment of onshore security measures
Reliance on today's low trans-Pacific spot rates could trap shippers if liners consolidate With spot rates on imports from Asia approaching $900 per 40-foot container to the U.S. West Coast and $1,700 to the East Coast, cargo interests that played the spot market rather than shipping most of their imports under service contracts this year are big winners. However, veteran shipping executives say that...
Brazil withholds emergency funding for Itajai dredging The future of the southern Brazil port of Itajai is once again in the balance as federal authorities refuse to release the urgently needed funding for emergency dredging to restore the 41 to 42.6-foot draft of the port following heavy rains from El Nino. As Brazil's second-largest container port and major...
Spot rate recovery next year on better supply-demand balance, analyst says Spot freight rates in container trades should stage a marked recovery next year, but short lived successes with general rate increases should not be regarded as evidence of a fundamental improvement between supply and demand, a senior shipping analyst said. The rates fell by 8 percent in November on the previous...
Does the 'shared economy' equate to 'smart shipping'? In the Age of Uber, a wave of technology companies is targeting freight transportation as the next big market to be transformed by smart phones, mobile apps and Web-based collaborative networking. Claims that Internet-based technology and the "shared economy" will overturn current freight transportation models and eliminate the need for third-party...
Spot rate recovery next year on better supply-demand balance, analyst says Spot freight rates in container trades should stage a marked recovery next year, but short lived successes with general rate increases should not be regarded as evidence of a fundamental improvement between supply and demand, a senior shipping analyst said. The rates fell by 8 percent in November on the previous...
Worst US manufacturing reading in three years signals LTL slowdown The worst reading from the Institute for Supply Management's Purchasing Managers Index in three years signals a slowdown in freight for less-than-truckload carriers to haul. The PMI, a measurement of manufacturing health, was at 48.6 in November as new orders, production, and inventories declined. These declines mean that motor carriers hauling...
Majority of shippers not ready for supply chain disruptions, study says Seven out of 10 global shippers lack the visibility in their supply chains needed to prepare and respond to disruptions - whether they are port labor slowdowns, natural disasters or something else. That unpreparedness hit 74 percent of the shippers surveyed that experienced disruptions in the last 12 months, according to...
Barge and rail service helps connect PNW exporters to Asia A container-on-barge and rail shuttle service in the Pacific Northwest is preserving the ability of exporters of agricultural and paper products in the region to serve their customers in Asia since the Port of Portland lost well over 90 percent of its container volume earlier this year due to a...
UTi Worldwide opens multimodal hubs in Malaysia, Vietnam New multimodal hubs in Southeast Asia will help logistics company UTi Worldwide take advantage of excess short-haul air capacity in the region and roll out new international routes. The hubs in Kuala Lumpur, Malaysia, and Ho Chi Minh City, Vietnam will help speed movement of goods from the region to UTi...
Rail, berths dominate NY-NJ port's $175 million capital budget Construction of intermodal rail facilities and rebuilding of ship berths are the largest items in the Port Authority of New York and New Jersey's $175 million capital spending plan for its seaport unit during the coming year. The planned spending is part of a $8.9 billion capital spending plan for fiscal...
Innovative stevedoring, ship designs could ease mega-ship woes Much like the airline industry, container shipping companies, even those perennially in the red, benefited from low oil prices and returned to profitability. But as 2015 is coming to a close, the fortunes of the container shipping industry have nosedived with even majors like Maersk Line issuing profit warnings thanks to...
ECA lube laucnhed by Castrol 'New regulations, changes in engine design, vessel operations and alternative fuels are presenting our customers with challenges.'
Bunker prices tumbled in November Analysts say crude oil prices likely to retreat further.
'Approval in principle' for world's first dual fuel VLCC 'This AIP is another step toward the more widespread adoption of LNG as a fuel for shipping.'
Bomin in bid to buy Bunkers International Offer of $5 million for all assets accepted, awaiting bankruptcy court approval.
Maersk acknowledges impact of low bunker prices Pioneer of Triple-E class vessels says part of the business case in being challenged.
Platts pre-report survey of analysts EIA data Suggests 100,000-Barrel Build in U.S. Distillate Stocks.
BC Ferries names LNG-fuelled newbuilding Ferry scheduled to join fleet in late 2016, it says.
Ecoslops sells first cargo of recycled marine fuel Company has ordered 3,000 mt more slops for processing, says CEO.
Engineering firm introduces inline scrubber design System easier to install on vessels with complex structural needs, says Alfa Laval.
Using wind propulsion offers 'commercial opportunities' Shipping industry will be forced to decarbonise no matter what happens in Paris, says IWSA.
BIMCO sees big role for scrubbers Global cap could make residual fuel oil extremely cheap, making scrubbers an attractive compliance option.
ICS, BIMCO explain global sulphur cap supply/demand issues Scrubber uptake and increased fuel efficiency important factors; enforcement bigger challenge than in ECAs.
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