"K" Line exec pleads guilty to price fixing Hiroshige Tanioka was sentenced to 18 months in US prison and a USD20,000 fine for conspiring to fix prices on ro-ro cargo in the Asia-US trade. Tanioka, who pled guilty in federal court in Baltimore, Maryland, on 30 January, participated in the conspiracy while he was an executive at Japanese
Genoa breaks cargo records in 2014 The Italian port of Genoa broke several records last year, including those for containers and total cargo volume moved. The port announced that all told, its terminals moved nearly 52M tonnes of cargo in 2014, an increase of 4.8% compared with that of the previous year. The port's container
ESPO wary of Juncker plan The European Sea Ports Organisation (ESPO) has expressed concern that the EUR315Bn (USD355Bn) EU investment plan championed by European Commission president Jean-Claude Juncker will divert funds from EU port infrastructure projects. ESPO said it had learned that a guarantee fund to be set up under
Frangou highlights box fleet As the dry bulk sector hits new lows, Navios Partners chairwoman Angeliki Frangou has focused attention on her company's container ship holdings. The NYSE-listed mixed-fleet owner has reported net income of USD13.5M for 4Q14, up 33% from USD10.1M in 4Q13. Higher profits were driven by a larger
GLDD awarded NY dredge contract Great Lakes Dredge & Dock won a USD23.4M contract for an ongoing environmental construction project at Fire Island, New York. The contract is the second of what is anticipated to be three contracts to be awarded to implement the Fire Island Inlet to Moriches Inlet (FIMI) Stabilization Project,
Delaware River deepening gets $97.5M Federal funds totalling USD97.5M have been allocated to continue deepening the Delaware River on the American East Coast, a Pennsylvania lawmaker said. US Senator Bob Casey said on 29 January that the US Army Corps of Engineers is releasing USD62.5M in new funding, along with USD35M that had
Scrapping 'could boost dry bulk sector' An increase in scrapping of dry bulk carriers could bring some relief to a dry bulk market that continues to suffer from poor outlook, analysts and brokers said. "In the demolition market, the highlight of the week is the increased appetite for Capesize bulkers," said Greek shipbroker Weber Seas
Meiji Shipping orders VLCC Japanese shipowner Meiji Shipping Group has ordered a very large crude carrier from shipbuilder Japan Marine United. In a Tokyo Stock Exchange filing, Meiji Shipping, led by CEO Kazuya Uchida, said the newbuilding order serves to modernise and expand the company's fleet. The company would not
MOL receives first China-built LNG carrier Japan's Mitsui OSK Lines (MOL) announced today the delivery of the LNG carrier Papua by Hudong-Zhonghua Shipbuilding (Hudong) last Friday. This is the first in a series of four ships to be built by Hudong for the PNG LNG project in Papua New Guinea invested by China Petroleum & Chemical Corporation
Myanmar, Thailand pledge to develop Dawei Myanmar and Thailand have reaffirmed their commitment to the Dawei port project, the Thai government has reported via its website. The announcement is significant because the 28-30 January meeting in Bangkok was the first joint high-level committee between the two sides since the Thai military took
TCC focuses on Japanese market for growth Hong Kong-headquartered ship management company, Tai Chong Cheang Steamship Company (TCC), cited the Japanese market as the main focus for the company's "blue chip, top-of-mind, boutique shipowning strategy" for growth. Kenneth Koo, group chairman and CEO of TCC, highlighted in the company's 60th
AZRB invests $7.44M in bunkering facilities Malaysia-listed construction and oil and gas company, Ahmad Zaki Resources (AZRB) has made a MYR27M ($7.44M) investment into bunkering facilities at Tok Bali Port, Malaysia. Around MYR12M from the investment fund will be used to construct two three-litre marine gas oil tanks, while the remaining
POSH acquires Eide Marine Offshore Singapore-listed boat charter services provider PACC Offshore Services Holdings (POSH) has completed the acquisition of Netherlands-based offshore engineering company Eide Marine Offshore BV (EMO). As a result, EMO has become a wholly owned subsidiary of POSH. EMO is primarily involved in the
HMM sells Hyundai Securities stake to Orix Hyundai Merchant Marine (HMM) has announced that Japanese financial services group Orix Corp's private equity arm has been selected as the preferred bidder for its controlling stake in affiliated stockbroking firm Hyundai Securities. The development comes after some bidders submitted letters of
Tanker missing off Indonesia after 'pirate' boarding An Indonesian-flagged chemical tanker went missing after being boarded by armed men off North Sulawesi, Indonesia. MT Rehobot was carrying around 1,100 tonnes of diesel before setting off from Bitung, North Sulawesi, on 28 January, according to a report from the Singapore-based anti-piracy
Australia slaps one-year ban on port state offender In a new first, Australian port state control has outlawed a ship from Australian ports for a full 12 months. Indonesian-flagged container ship Red Rover was directed not to enter any Australian port for a year after being detained by the Australian Maritime Safety Authority (AMSA) three times
CSSC-SSE is back to black in 2014 Shanghai-listed CSSC Steel Structure Engineering (CSSC-SSE), a Chinese maker of marine equipment, machineries and steel structures, forecast that it returned to the black in 2014 on investment gains. The profits in 2014 totalled between CNY5M ($806,452) and CNY9M, a stock filing of the company
Dismay at lack of action after bulker tragedies IMO told to 'hurry up' by Intercargo chairman while London Greek body blasts 'deplorable' tactics at certain terminals
Data Hub: Trade Statistics -Transpacific volumes up 6.9% in 2014 But lack of profitability causes closure of North American west coast service
Frontline 2012 pays $96m for two modern suezmax tankers John Fredriksen's tanker vehicle eyes improving fortunes for these 1m barrel tankers
Capesize demolition frenzy gives way to fresh caution Interest from buyers and sellers alike has waned
Tianjin Marine throws $1bn from private placement into money market Shanghai-listed carrier appears not to be in a hurry to place orders for VLCCs and LNG carriers
KfW arranges finance for two Siem newbuildings German bank is mandated lead arranger for $350m offshore vessels deal
Navios Partners boosts earnings from expanded fleet Containership-focused partnership extends dividend pledge to end-2016
Carriers' schedule performance slides on 2013 levels Transpacific and Asia-Europe trade lanes both record declines in on-time arrivals
Manila operations returning to 'normal' Yard utilisation expected to fall below 60% before the Chinese New Year, say ICTSI
Insurers slam careless heavylift practices 'Lack of expertise' highlighted by UK Club and Allianz
BDI returns to 1980s, helped by hangdog capes Difficult business climate for capesizes appears to be mirrored in fortunes of dry bulk sector overall
Age of the giants New generation of containerships requires a supporting cast of terminals, stevedores, feeders, barges, trains and trucks
Obama's highway plan not expected to go far but funding idea might WASHINGTON - Like his past surface transportation budgets, President Obama's most recent ambitious plan to boost funding won't likely go far, but his proposal to tap more dollars for highway, roads and bridges through corporate tax reform has a shot, expert say. Through his fiscal 2016 budget proposal, Obama wants to...
Rails ramp up capital plans amid calls for operational change The major North American freight railroads this year plan to spend 7.4 percent more on their U.S. networks and on hiring than last year, as they see growing demand and are working to restore service to mid-2013 levels. But there is also an increasing sense in the industry that the railroads...
Analysts predict US truckload rates to rise 4 to 9 percent Tight truck capacity and low fuel prices will shift the balance between over-the-road trucking and intermodal rail this year, with some intermodal freight being transferred to truck despite rising truckload rates, according to Cass Information Systems and Avondale Partners. The freight payment company and investment research firm expect truckload rates...
US Congress steps up pressure on ILWU, PMA to reach deal The U.S. Congress is stepping up its pressure on the International Longshore and Warehouse Union and the Pacific Maritime Association to reach a "swift resolution" to their 9-month-old contract negotiations. Eighty-four U.S. House members have signed a letter urging the International Longshore and Warehouse Union and the Pacific Maritime Association to...
Whistleblower gets $250,000 of car carrier's $1.8 million fine A whistleblower among the crew of a Japanese car carrier will receive $250,000 of a $1.8 million fine imposed against the ship operator for illegally dumping oily residue and bilges into the ocean. Haichiuma Steamship Co., a subsidiary of NYK Line, pleaded guilty in U.S. District Court in Baltimore to violating...
'K' Line official sentenced to 18 months for price-fixing An executive of Japan-based "K" Line was sentenced to 18 months in prison and agreed to cooperate with prosecutors after pleading guilty to involvement in a price-fixing conspiracy among carriers that carry vehicles on roll-on, roll-off ships to and from the United States. The guilty plea and sentence of Hiroshige Tanioka...
Port of NY-NJ, ExpressRail set volume records for year Containerized cargo volume at the Port of New York and New Jersey hit a record 5,772,303 20-foot-equivalent units last year, up 5.6 percent from 2013, the port authority said. Measured in container lifts, port volume totaled 3,342,286, up 5.4 percent from 2013 and a 4.1 percent increase from the previous record...
US truck driver turnover rate rises, pressuring shipping costs Despite paying higher wages, many large U.S. truckload carriers are still struggling to keep drivers in their trucks. The annualized driver turnover rate at large truckload carriers rose one point to 97 percent in the third quarter last year, the American Trucking Associations said. That's the same rate as a year...
Conflicts and logic Reading the JOC 2015 Annual Review and Outlook, I'm reminded of the continuation of the conflicts between service providers and customers, and question some of the logic in these conflicts. Let's start with shippers discussing the "threats" of mega-alliances, the threats being the potential lessening of competition among the carriers, the...
New alliances bring uncertainty to a mature trans-Atlantic market When the Maersk Kotka called at Charleston and Savannah on Jan. 30 and 31 on a Europe-U.S. Gulf-Mexico-U.S. South Atlantic rotation, there was nothing unusual about the service, but for one big thing: It marked the first call at those ports by a ship on the revamped trans-Atlantic TA3 service...
Despite antitrust losses, Yusen Logistics' profit doubles Yusen Logistics Co.'s group net profit doubled in the first three quarters of fiscal 2014 - despite antitrust losses in the United States and Singapore - thanks to strong revenue growth and strenuous cost-cutting efforts. The major Japanese international freight forwarder saw its net profit soar a whopping 106.4 percent year-over-year...
Earnings jump 18.5 percent at Transport Corporation of India Trucking and logistics giant Transport Corporation of India reported an 18.5 percent increase in net earnings to Rs. 17.08 crore (about $2.75 million) for the third fiscal quarter, which ended Dec. 31. Income from operations in the October-to-December period totaled $89.3 million, up 8 percent from $83 million for the same period...
New China-Madrid rail service struggles to attract shippers The world's longest rail freight service - between China and Spain - has been put on hold because it hasn't attracted cargo for its maiden return journey from Madrid. The first direct service between the two countries arrived in the Spanish capital on Dec. 10 to offload 30 containers after a...
US senator: West Coast can learn from East Coast labor peace SEA ISLAND, Georgia - A former Dollar General and Reebok CEO who is the new U.S. senator from Georgia drew a sharp distinction on Sunday between longshore labor relations on the West and East Coast, saying labor and management on the East Coast "have a great history of working together." "The...
Strong US economy bodes well for container trade, Drewry says HONG KONG - A strengthening U.S. economy will continue to generate strong container volumes this year despite weak head haul demand during the latter stages of 2014, according to Drewry Maritime Research.Carriers were paying more attention to broader economic indicators rather than to shorter-term slack season lifting statistics in order...
Chinese New Year fails to stimulate factory output, official data shows HONG KONG - An expected spike in China's factory production in January in the buildup to a late Chinese New Year failed to materialize, with the official purchasing manager's index (PMI) falling to a level not seen since 2012.China's National Bureau of Statistics released the factory output data that showed...
Chile prosecutor seeks $75m in fines Chile's competition watchdog is asking a court to issue $75m in fines as it accused six car carrier operators of forming a customer-allocating cartel.
Navios Maritime Partners surges after committing to payout level Navios Maritime Partners saw its share price surge after chief executive Angeliki Frangou committed to keeping the company's payout to shareholders at current levels.
Analyst shows leap in tanker values Second-hand tanker values have increased by 11.2% in the past month, according to analysis by US consultancy Shipping Intelligence.
Baillie Gifford raises stake in Royal Scottish investment manager Baillie Gifford has increased its holding in Royal Caribbean Cruises.
Carnival sees crime rates drop Carnival Corp has released data showing a drop in major alleged crimes committed on ships in its North American brands.
OOCL profit to rise Barclays has backed Hong Kong container line OOCL as its best boxship shares pick as its profit looks likely to rise.
Flex converts to MEGI Fredriksen-controlled Flex LNG has sealed a deal with Samsung Heavy Industries which will see its two LNG newbuildings convert their propulsion systems.
CSC Phoenix rising again China's Chang Jiang Shipping Group Phoenix (CSC Phoenix) is predicting a huge profit for 2014 after it came through a court bankruptcy restructuring.
Strike three for Star Bulk Star Bulk Carriers has disposed of its third vessel in quick succession.
NMM boosts profit Greece's Navios Maritime Partners (NMM) has pushed up its net earnings in the fourth quarter as the fleet expanded.
Vik quits KNOP post Arild Vik has quit as chief executive and chief financial officer of KNOT Offshore Partners.
GSI in the clear Guangzhou Shipyard International (GSI) has won state approval to buy Huangpu Wenchong from its parent CSSC.
Salgaocar scraps bulker Salgaocar of India is believed to be scrapping its only post-panamax bulk carrier.
KfW funds Siem newbuilds Siem Offshore has found the required funds for two state-of-the-art well intervention vessels currently being built in Germany.
Meratus ship barred Australia has issued its first year-long ban after another Meratus Line cargoship failed a safety check.
Excelerate bags Ghana job US-based Excelerate Energy has been selected to supply a floating storage and regasification unit (FSRU) to Ghana.
Syriza hitting S&P? Uncertainty stemming from the Greek election results is being linked to the failure of some sale and purchase deals.
Cargoship to be sunk Galapagos Islands authorities, insurers and salvors have agreed to scuttle an Ecuadorian cargoship that grounded there last week.
Seacat adds double UK operator Seacat Services has ordered two crew vessels worth £6m ($9m) at South Boats on the Isle of Wight.
NS United banks more NS United has recorded an improved profit in the first nine months of its financial year.
ABG issues shares India's ABG Shipyard is awarding $118m of convertible shares to a creditor as part of its debt restructuring.
Avance newcomers underway Avance Gas has secured work for its first Chinese VLGC newbuilding and is closing in on a debut deal for a second.
Clarksons and Platou seal deal Clarksons has completed the purchase of rival RS Platou ahead a schedule.
COSL inks quartet China's COSL has ordered another four anchor-handlers to add to its growing offshore orderbook.
Meiji Shipping adds VLCC Japan's Meiji Shipping is expanding its tanker fleet with a new VLCC order.
Vulica orders panamaxes Texas owner Vulica Shipping has signed up with Jiangsu Hantong Ship Heavy Industry in China to renew its 1980s-built panamax fleet.
DESS ties up PSV pair Deep Sea Supply has tied-up two of its PSV on potential three year charters, removing them from the spot market.
S'pore in double arrest Two small Asian-owned vessels have been arrested in Singapore, according to court documents seen by TradeWinds.
Mixed result for MISC MISC is expected to report a varied performance for its two key sectors when it reports its full year results next week.
K Line man faces jail A K Line official in the US was sentenced to 18 months in jail on Friday after pleading guilty to price fixing.
NYK gets 'magic pipe' fine A company controlled by NYK has admitted covering up the deliberate discharge of oil and has been ordered to $1.8m by a US court.
Shell drops another LNG project Drop in oil prices cited as reason behind decision.
Japanese dual-fuel engine receives type approval ClassNK completed testing in 'just a couple of months'.
Australia bans vessel for one year The Red Rover has been detained three times before.
IFO prices climbing in bunker hubs Crude oil markets staging a recovery.
UK funds vessel monitoring system research System uses satellite technology.
LNG distributor secures loan For liquefaction train ready by mid-year.
SOHAR: 'Maintaining first-class fuel supplies is key to the future' 'In just a few short years, we have attracted many of the biggest names in the shipping industry,' says CEO of the Omani port.
LNG carriers to use electrical propulsion system System able to lower fuel consumption and reduce emissions.
Merged bunker company promotes Haestrup To head up global sales.
Hybrid ferries a 'dog's breakfast' 'Claims about the energy efficiency of these ferries do not stand up to simple engineering scrutiny.'
Reefer arrested in Singapore Vessel has been detained in Singapore since Thursday.
Vessel arrested in Singapore Controlled by Vietnamese interests.
Chinese bulker firm issues profit warning Falling oil prices have softened blow, but not enough, it says.
Shipping firm fined for oil discharge $250,000 awarded to crew member who provided evidence of illegal discharges.
Series of 'eco' ULCCs to enter service in three years Japanese shipbuilder adds 11 newbuilds to order book.
China fuel oil imports down in January Weak demand from bonded bunker sector and Chinese independent refiners.
NuStar bounces back to black Bunkering business notes higher earnings margin in Q4.
Chemical tanker goes missing in Indonesia MT Rehobot was carrying some 1,100 of diesel when hijacked.
LNG offering 'fresh start' on quality issue Argos plans to monitor both quantity and quality during supply from its LNG barge.
Barge best option for LNG supply Buyers prefer supply by barge and it has safety advantages, but it is the highest cost option to develop.
Little clarity on LNG pricing No sign of spot pricing, while current and future supply contracts are 'negotiable'.
Hybrid superyacht firm makes a splash Royal Huisman says its vessel has already logged over 100,000 miles at sea.
Continued demand for fuel efficiency monitoring High cost fuel efficiency projects may be put on hold while fuel prices are low.
Gulf Petrochem on 'development spree' Company to concentrate on East Africa and Nigeria markets in 2015.
Cyprus: Fall in annual bunker sales MGO, HFO sales volumes softened in 2014.
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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