Alcoa backs Australia ship crew court action Credit: PA As Australian crew members continue their sit-in on Portland, a bulk carrier set to be replaced by a foreign flagged and crewed vessel, both the company employing them and the labour union representing them have turned to the Federal Court. With backing from shipowner Alcoa, the company is applying for...
Bremen breaks ground on offshore turbine terminal Bremerhaven. Credit: Olaf SchmidtThe German state of Bremen is pressing ahead with the construction of a EUR180 million (USD190 million) heavy load terminal for offshore wind turbines in Bremerhaven. Following planning approval for the project this week, its public port management company Bremenports has begun setting up the construction site...
Cammell Laird yard wins GBP200 million Polar research order Credit: PAHistoric Birkenhead-based Cammell Laird shipyard has sealed the contract to build the new British Polar Research vessel. The deal comes after a 12-month tender process, which saw the UK yard beat of competition from Europe and the Far East. The state of the art vessel is to be built for the...
Haifa investment 'just the beginning' says Shanghai port vice president Haifa port. Credit: PAShanghai International Port Group (SIPG) is on the hunt for investment opportunities in Europe as it looks to China's national development strategy to grow in what it says are some very challenging years ahead for global shipping. "We won the contract to build and operate the port in...
Changing gasoline trade dynamics to boost product tankers A US refinery. Credit: PAThe gasoline trade is changing as the refining boom in the Middle East and Asia-Pacific, growth in US exports, and closure of refineries in Europe and Australia are taking effect. This would augur well for product tankers that are used to transport gasoline and other petroleum products, said...
Hanjin Shipping, KR among SW Shipping's 220 creditors Credit: HasenpuschDetails of beleaguered South Korean mid-sized dry bulk shipping firm SW Shipping's creditors have emerged following its application for court protection. The company, which sought court protection from the Seoul Central District Court on 20 November, said during a hearing on 1 December that it owes KRW64.7 billion (USD55.6 million)...
Singapore's MPA investigating Sea Prince ferry accident Another Batamfast ferry, pictured. Credit: IHS/Xavier KwokThe Maritime and Port Authority of Singapore (MPA) and Indonesian authorities are investigating an incident where the ferry Sea Prince hit a floating object on Sunday night shortly after leaving Batam, forcing the rescue of 97 people. Ferry operator Batamfast is also involved in...
Seoul seeks foreign investment to develop port hinterland Busan port. Credit: PAThe South Korean government, which has been driving an aggressive expansion of the country's ports, is seeking foreign investment for the capital-heavy move. The country's Ministry of Oceans and Fisheries (MOF) has recently completed a series of four briefing sessions that were targeted to encourage foreign investment in developing...
Commentary: Is dry market decline structural rather than cyclical? Iron ore loading. Credit: PAViews over London at night from the peak of 30 St Mary Axe, informally known as the Gherkin, are spectacular despite several newer buildings reaching even higher into the sky. The Gherkin holds a special place in the heart of the Baltic Exchange because it stands on...
China's structural flaw Views over London at night from the peak of 30 St Mary Axe, informally known as the Gherkin, are spectacular despite several newer buildings reaching even higher into the sky. The Gherkin holds a special place in the heart of the Baltic Exchange because it stands on the site of the...
Castrol launches new cylinder oil for marine engine protection Castrol has launched a new marine cylinder oil, Cyltech ACT, which will help ship operators comply with regulations in sulphur emissions control areas (ECAs). The cylinder oil was introduced by the lubricants manufacturer on 1 December during Marintec China 2015 held in Shanghai. The oil utilises ash control technology (ACT) to...
Jan De Nul wins USD225 million Panama contract How the expanded PSA Panama terminal will look. Credit: Jan de NulThe Belgium dredging giant, together with Italy-based global engineering and construction company Saipem, will massively expand PSA's terminal on the western bank of the Panama Canal's Pacific entrance, increasing its capacity from 450,000 teu to 2 million teu. The expanded...
DNV GL to class Cosco's 20,000 teu ships Newbuildings will be LNG-ready
OSG to repurchase up to $226m in senior notes Company will seek to remove restrictions to sell part or all of its international fleet
No recovery until 2017 at earliest, say shipping bankers Pessimism pervasive in Petrofin poll of pundits
Most shippers not ready for new container weighing rules Group of logistics providers is advocating standard setting for electronic documentation to satisfy reporting requirements kicking in next year
Aronnax: Are sulphur emission control areas impacting CO2 emissions? By influencing shipping behaviour, ECAs could change CO2 emissions
LR2 rate rises to highest since early September on naphtha flows Clarksons Platou remains bullish on product tanker sector
Greek ports hit by planned public and private sector strikes Unions warn of 24 hour action over compensation
Vale mulls VLOC fleet sell-off next year Brazil mining giant looks to raise $4bn-$5.5bn from fleet and other divestments
January completion date for Panama Canal lock repairs But ACP still unable to confirm impact on expansion project's timeline
Frontline declares dividend of $0.05 per share Board agrees to make quarterly payouts to shareholders
Amsterdam and Rotterdam ports renew partnership pact Ports to collaborate on infrastructure, joint procurement of products and services, information management and promoting the railway as a mode of cargo transportation
Sembcorp Marine expects fourth-quarter net loss Loss may be partly due to rig termination dispute with Marco Polo Marine, says analyst
Tanker market looks well balanced for 2016, says Nordic American chief Balanced fleet growth and steady demand bode well for tanker market in 2016, says Hansson
Globus Maritime posts losses in weak dry bulk market Bulkers owner is cautiously optimistic on China's economy
Algoma Central orders two bulkers from Yangzijiang Shipbuilding Two vessels bring Algoma Central's total number of Equinox ships on order to seven
PSA and Singapore Polytechnic to develop port management and operations diploma 'Earn and Learn Programme' students to be employed at PSA as they study port operations
Berlian Laju Tanker completes exit from Chembulk Tankers Deal done through debt for equity exchange
Maersk Drilling wins $44m offshore deal with Total Drillship Maersk Venturer secured for Total's first exploration well off Uruguay
US bill would have regulatory impact on rails, ports, truckers WASHINGTON - While $10.8 billion in freight project grants within the five-year U.S. highway bill has grabbed the most attention, there are plenty of significant freight-related initiatives, ranging from measuring port productivity to potentially reforming a federal trucking safety initiative. But there were also missed opportunities for freight interests in FAST, or...
NAFTA trade flows respond to fuel prices, US dollar Lower Canadian fuel prices, the strong U.S. dollar, and the rise in Mexican imports are reshaping freight flows among the North American Free Trade Agreement partners, and Mexico may be the biggest beneficiary. Although the value of goods traded between the U.S. and its neighbors dropped 8.8 percent overall in...
South Africa container volume set to grow despite economic slowdown Port of DurbanDespite signs that South Africa's economy will enter a slowdown next year, container volume through Africa's second-largest economy is forecast to rise in the mid-single digits. The completion of several large infrastructure projects and increased competitiveness of South Africa's currency, the rand, will fuel import growth, said Karl Socikwa,...
ODFL hauls more volume despite overall shipping slowdown Old Dominion Freight Line barreled past signs warning U.S. shipping was slowing in the first two months of the fourth quarter, handling more shipments and higher freight tonnage. Deutsche Bank expects less-than-truckload tonnage to contract 1.8 percent in the first quarter of 2016 after rising a meager 0.3 percent in the...
Panama Canal contractor to finish lock reinforcement in January The Panama Canal Authority said a contractor has advised it will complete work next month on reinforcement of lock sills that failed tests and raised questions about the planned April opening of the canal's expansion. The contractor, GUPC, had not identified a date for completion of the new locks, but "will...
Ship line consolidation won't dent trans-Pacific competition If CMA CGM acquires NOL and its APL brand, the new entity could be the new market leader in the eastbound trans-Pacific trade, the latest jolt to this market, which this year absorbed the frontal assault of a longshore labor meltdown. NOL and its largest shareholder, Temasek-controlled Lentor Investments, granted the...
TransForce's Transport America buys Optimal Freight This year could be called the Year of the Acquisition, and 2015 isn't over yet. Trucking company Transport America yesterday said it acquired a majority stake in Optimal Freight, a truckload brokerage. The truckload carrier will hook its assets to Optimal's non-asset services. "This is an exciting opportunity for Transport America's...
IMO bids farewell to Sekimizu Outgoing Secretary General makes his final address at close of Assembly.
US DATA: EIA says USGC fuel oil stocks at second-highest level of all time Total US stocks are 16% higher than the same time one year ago.
Solar-panelled sails and retractable wind generators for world's 'greenest cruise ship' 'Ecoship offers a vision for a climate-friendly future.'
Bunker prices soften as crude continues to slide Crude oil prices close to levels last seen during the financial crisis.
DNV GL deal to bring 'clarity' to vessel energy savings Marine coatings manufacturer says customers will be better positioned to 'quantify the value of their investment.'
ING Bank chases bulk carrier for unpaid fuel bill Files lawsuit at US District Court for OW-related debt.
ECSA: We need IMO leadership to reduce shipping emissions Wants establishment of global measures that will be a 'logical continuation' of steps taken at EU level.
Data suggests ECA enforcement is 'robust' Older, less fuel efficient ships are being routed away ECAs as owners try to cut the costs of compliance.
New Zealand: Bunker spill from bulk carrier Fuel oil escaped through ballast water system, says Harbourmaster.
ING Bank chases bulk carrier for unpaid fuel debt Files lawsuit at US District Court for Eastern Louisiana.
Tunnel propulsion design achieves more fuel savings than expected The Van der Velden Flex Tunnel is 27% more efficient than its competition, it says.
ECSA: EU needs IMO leadership to reduce shipping emissions Wants establishment of EU MRV to 'as soon as possible'.
Shipping messages vie for attention at Paris climate talks ICS says IMO regulations and high fuel cost now and in the future will help to ensure 'carbon neutral growth'.
ECA lube launched by Castrol 'New regulations, changes in engine design, vessel operations and alternative fuels are presenting our customers with challenges.'
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