Greek coast guard arrests Libya weapons ship Greece's coast guard has detained a Bolivian-flagged general cargo ship found loaded with undeclared weapons bound for Libya. The vessel was seized on 1 September near the port of Ierapetra on the south coast of Crete. It was subsequently taken to the island's capital Iraklion for inspection,
Austal profits up 66.8% Australia-based ship builder Austal Limited announced a record net profit of AUD53.2 million (USD37.4 million), up 66.8% on FY14 NPAT of AUD31.9 million, last week. It is the company's best result in nearly three decades. A global shipbuilder supplying Australian, Oman and the US defence forces,
Drop in Newcastle coal ship arrivals A drop in ships destined for the world's biggest coal port of Newcastle has this week sparked concerns that the tide has turned for Australian coal - and beyond. The Newcastle Port Authority reported for the week ending 31 August that 21 coal vessels had notified arrival times allocated or were in
MacGregor to cut 100 in its German Hatlapa unit In response to "weak market demand due to the low oil price and low number of new merchant ship orders", MacGregor will reduce its workforce by 100 at its MacGregor Hatlapa subsidiary in Uetersen, Germany. These will come into effect by the end of this year and achieve savings of EUR7 million in
Singapore becomes a venue to settle maritime disputes Singapore has signed a joint declaration with International Tribunal for the Law of the Sea (ITLOS) in allowing the Republic as a venue for settling maritime disputes. The declaration was inked by Ng How Yue, the country's permanent secretary to the ministry of law with Vladimir Golitsyn, president
Tankers to gain from ASEAN oil demand Southeast Asia's increasing energy demand means both crude oil and oil product trade is expected to grow, providing support for tankers. Italian shipbroker Banchero Costa noted that Indonesia is the largest crude oil producer in ASEAN, accounting for about 40% of production. But falling oil
Zhejiang Zhenghe Shipbuilding workers on strike for salary arrears Workers from Zhejiang Zhenghe Shipbuilding went on strike at the entrance of the shipyard on 1 September. The shipyard sent a text message to its workers at around 10 pm on 31 August, informing them that the company will suspend its operation beginning 1 September due to financial issues, and
Ningbo Marine returns to black in 1H15 Shanghai-listed Ningbo Marine posted a profit of CNY4.4 million (USD0.7 million) for the first half of 2015, returning to the black after the loss of CNY5.1 million the previous year. The company's revenue also rose 7.6% year on year (y/y) during the review period, from CNY496.4 million to CNY534.2
Panama canal repairs to take one month Panama Canal officials have set aside up to one month to repair leaks discovered in August during the start of testing of the third set of locks. Speaking at the Western Dredging Association's first annual meeting of its Mexico chapter in Mexico City on 1 September, Javier Carrillo, international
Shandong Huahai Shipbuilding goes into court receivership Shandong Huahai Shipbuilding, a small Chinese shipyard based in Rizhao, Shandong, went into court receivership on application of a compatriot creditor. On 30 August, the Rizhao Intermediate People's Court ruled that it would accept the application filed by Shandong Jintuo Energy for the bankruptcy
Jaya Holdings risks delisting after failed acquisition Singapore-listed defunct offshore services provider, Jaya Holdings, has terminated its proposed acquisition of Indonesian-based oil palm and timber business Izzisen Global, and faces delisting from Singapore Exchange (SGX) in three months. In its filing to SGX, the company stated that the
Subsea 7 wins USD150 million UK contract Subsea 7, the London-headquartered seabed-to-surface construction company, said it had won a USD150 million contract from Maersk Oil, part of the AP Moller-Maersk group in Copenhagen. The work entails a subsea, umbilical, riser, and flowline (SURF) for the Culzean development. "The ultra-high
Container trade reflects difficulties facing BRICs While economists debate the growth and prospects of the BRIC nations of Brazil, Russia, India, and China, their global container trade volumes reflect many of the difficulties that have been the focus of headlines around the world. Brazil's container volumes represent a textbook example of what happens when a nation's...
US exports are down, but not everywhere A strong dollar and uncertain global macroeconomic outlook has led observers to forecast a 2.4 percent drop in U.S. exports this year, but the makeup of that decline is not uniform and some regions have even seen their number of U.S. exports increase. Africa and the Mediterranean are the primary culprits...
NYK opens new ro-ro terminal in India Loading the NYK Grand Dahlia at Pipavav Port, India.NYK Line is looking to profit off India's booming auto industry with the addition of a new roll-on, roll-off terminal in Pipavav in the state of Gujarat on the country's northwest coast. The terminal's first shipment, a fleet of 1,380 Ford-manufactured Figo Aspire...
Europe's Samskip buys Van Dieren to boost intermodal business European container logistics company Samskip snapped up the remaining shares of Van Dieren Sweden, a multimodal transportation company that it has partly owned since 2007. The acquisition will give Samskip an even larger presence in Scandinavia, both in domestic markets in Norway and Sweden and in pan-European transport networks. "The acquisition...
DP World opens new JNPT facility amid disruptions Nhava Sheva International Container Terminal DP World said the commercial launch of its new facility in Jawaharlal Nehru Port Trust, named Nhava Sheva (India) Gateway Terminal, helped the country's biggest container handler tackle the turmoil brought on by labor and other disruptions. NSIGT is DP World's second box facility in JNPT, and...
Panama Canal repairs won't impact opening, but El Nino threat remains Panama Canal officials have said it will take one month to repair leaks discovered in locks for the Pacific side, but warned El Nino is a bigger threat to the canal's operations. Speaking at the Western Dredging Association's first annual meeting of its Mexico chapter in Mexico City on Tuesday, Javier...
C.H. Robinson appoints former DHL exec as head of European operations C.H. Robinson Worldwide has appointed Jeroen Eljsink, an executive with extensive experience in European logistics, as the head of its European operations. The company is targeting Europe as a part of its growth strategy, and has chosen Eljinsk because of his previous experience heading DHL operations in Germany, the United Kingdom...
Revenue plummets at Russian intermodal provider Transcontainer, Russia's leading intermodal freight transporter, saw its revenue plummet 64 percent in the first half to $15 million, compared to $41.4 million in 2014, as the decline in Russian trade makes itself felt in companies' bottom lines. Transcontainer's first-quarter container volumes fell slightly, less than 1 percent, to 349,000 TEUs...
Truck booking system launched to ease Manila cargo flows Container trucks and commuters are forced to co-exist on Manila's notoriously choked streets.HONG KONG - Manila's two main terminals have launched a vehicle booking system that is expected to improve container flows into and out of the port as the Philippines' peak shipping season approaches.The Terminal Appointment Booking System, or...
Strike hits Indian ports Port of ChennaiA 24-hour strike by unionized dockworkers has disrupted normal operations at some of the key Indian major public ports, including largest container handler Jawaharlal Nehru Port Trust, on Wednesday, according to local shipping sources. The stoppage is part of a nationwide industrial action called by all of major trade...
Truck booking system launched to ease Manila cargo flows Container trucks and commuters are forced to co-exist on Manila's notoriously choked streets.HONG KONG - Manila's two main terminals have launched a vehicle booking system that is expected to improve container flows into and out of the port as the Philippines' peak shipping season approaches.The Terminal Appointment Booking System, or...
US domestic intermodal spot rates fall to nearly four-year low As peak season nears, U.S. domestic intermodal spot rates last month fell to their lowest point since 2012, a result of intense competition from the over-the-road sector and weaker than usual demand, according to third-party logistics provider IDS. Spot rates to move a 53-foot container from Los Angeles to Chicago were...
Retailers suffer high 'stock outs,' GT Nexus survey shows U.S. retailers are currently "destocking" high levels of inventory, while dealing with "unprecedented levels" of out-of-stock inventory, both online and in stores, according to GT Nexus. In a consumer survey, the supply chain technology company found that 75 percent of shoppers experienced an "out-of-stock" moment at a store in the...
VLCCs take upward turn VLCCs are surging upward this week as fixture volume comes back into the market and charterers source more cargoes from West Africa.
Trio unite 147 ships Borealis Maritime, Reederei Nord and Bernhard Schulte have struck a deal to combine their chartering activities in the containership and bulker space.
FREE wins lucrative deal FreeSeas has inked a charter contract at a rate that sits comfortably ahead of today's Baltic index.
Shipping's new inspector Poland's Remontowa shipyard has found a pioneering way to inspect vessels undergoing repair works.
The 96% drop The over-tonnaged North Sea anchor-handler (AHTS) market is struggling with rock-bottom rates that show a 96% drop from the peaks of 2014.
Abbott: "Just not true" Australia's prime minister Tony Abbott has refuted claims that a governmental representative proposed to a domestic shipping company that it should replace its Australian workforce with foreign labour.
Boxes burn off Africa Worden containership suffers fire off the coast of Namibia.
Arms ship held in Greece A general cargo vessel has been found carrying guns without the necessary documentation in Greek waters.
Korean yards face strike Union leaders at South Korea's nine major shipbuilders are planning a walk-out over wages and job cuts.
Arms ship held A general cargo vessel has been found carrying guns without the necessary documentation in Greek waters.
US eyes icebreaker US president Barack Obama is aiming to spend around $1bn on a powerful new icebreaker to boost Arctic capacity.
Passengers protest Passengers had to be ejected from a Royal Caribbean cruiseship in China after an itinerary change.
Minoan on the mend Minoan Lines of Greece has seen its cost-efficiency policy over the last few years deliver a positive result in its first half bottom line.
Oakland clears backlog The US port of Oakland has seen its backlog of containerships reduce over the last three weeks as it brought in more staff.
Gal joins Sterling Sterling Shipping has added former XT Shipping and Ace Tankers man Adir Gal to its team.
Edelweiss takes over Restructuring specialist appoints CEO at Bharati Shipyard as it reaches 70% debt ownership.
MSC in China tie-up MSC Cruises is teaming up with Chinese outbound tourism service provider CAISSA Touristic Group in a bid to crack the world's most populous nation.
Aussie rules slammed The chairman of an Australian shipping company has hit out at new rules he says will hit jobs and growth.
Polarcus strikes again Middle East owner Polarcus has revealed its second seismic survey contract in two days.
PGS cold-stacks another Petroleum Geo-Services (PGS) is being forced to cold-stack a third Ramform seismic survey vessel due to the industry downturn.
Orders up, demo down Tanker newbuilding levels are up 7% in the first six months of this year compared to a year ago, new research shows.
Scorpio keeps buying Scorpio Bulkers has continued its share buy-back program with its second deal to buy company stock in just over one week.
Malaysia to take on pirates Malaysia is reported to be establishing a task force to combat the piracy gangs threatening regional shipping.
TEN ties up product tanker Owner fixes tanker at 20% premium to its previous rate thanks to stronger tanker market.
Minoan Lines in profit First positive result in 15 years.
Energy efficiency gets Danish focus As part of Danish Maritime Days 2015.
Pressure to save money on bunkers has eased Low bunker prices are undermining shipping companies' commitment to slow steaming, says BIMCO analyst.
Bunker markets end brief rally Singapore prices falling after four days of price hikes.
Gulf of Finland LNG project moves ahead Nine-strong gas bunker fleet possible.
Cockett establishes market presence at Rotterdam Starts office headed by Robin van Elderen as general manager, it tells Platts Bunkerworld.
Gulf Petrochem boosts bunker trading team in UAE Deepak Dharwal will focus on GP's Middle East bunkering operations.
Malaysia: Vessels arrested over illegal fuel transfer Alleged operation involved 500 mt of marine fuel.
New hire at Orion Pakistani bunker company adds sales manager.
Kochi update: Bunkering activities uninterrupted Operations unaffected by refuelling station shutdown, a source tells Platts Bunkerworld.
Titan Petrochemicals 'likely' to resume trading conditions Both subscribers intend to complete subscriptions, it says.
Commodity trading firm expands Singapore fuel oil desk Freight Investor Services looking to increase business volumes on oil in Asia, source tells Platts Bunkerworld.
Legal Advisor: All eyes on upcoming OW Bunker claims case 'Parties are again back to holding their breath to await the final decision,' says Singapore-based source.
Singapore bunkering fleet strengthens Brightoil and Max Oil expand operations.
White paper published on 'fuel-saving' waste heat recovery system Calnetix's Hydrocurrent system was approved by ClassNK and LR earlier this year.
Nigeria to crackdown on oil theft By using drones and working with the country's navy.
MARAD launches trial for hydrogen fuel-cell powered container Performance feedback and data will be recorded during a six-month trial period.
Total Lubmarine resumes service at China's Tianjin port However, ships must provide an extra day of advance notice for the firm's services.
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