MPHRP announces new head under ISWAN Tom Holmer, former head of the International Transport Workers' Federation's Seafarers' Trust, has been chosen to lead the Maritime Piracy Humanitarian Response Programme (MPHRP). Holmer will take up his new roleat MPHRP once it becomes part of the International Seafarers Welfare and Assistance
Shore power expanded in Montreal and Quebec City Shore power will become available in the ports of Montreal and Quebec during the next few years with the assistance of government air pollution reduction programmes, the two port authorities have announced. The Montreal Port Authority will install a system for cruise ships at the Alexandra Pier and
News insight: Europe's split priorities strain shipping Europe's increasingly militaristic reaction to the humanitarian crisis in the Mediterranean Sea evidences an offensive rather than rescue focused mind-set. While smugglers and traffickers must be stopped, the international shipping industry needs Europe's priorities to be at least evenly weighted.
Firmer July freight rates do not wipe out overcapacity concerns A rise in container spot rates in July on the previous month does not wipe out concerns of overcapacity in the industry, a senior shipping analyst said. The rates rose about 12% last month on June, largely thanks to general rate increases (GRI) in Asia-Europe trades and an initial success of the
Box terminal 'key to Suez development' Egypt has complemented the launch of a two-way traffic system through the Suez Canal on 6 August by announcing infrastructure plans to support a proposed economic zone along the canal. The cornerstone of government plans is its SCZone, an economic enterprise zone that Egypt proposes to build beside
China Newbuilding Price Index continued to drop in July China newbuilding price index (CNPI), a composite index of tankers, bulk carriers, and containerships - three major ship types built in China - drifted to 886 points at the end of July, down 0.7% on a month ago. All sub-indices of CNPI also fell. The dry bulker index dropped 0.9% on a month ago to
Trading in Changhang Phoenix's shares will resume 18 August Shenzhen-listed Changhang Phoenix, a bulk carrier operating unit of Sinotrans & CSC, said on 3 August that trading in the company's shares will be resumed on 18 August after a hiatus of more than 19 months. The Shenzhen Stock Exchange has approved Changhang Phoenix's application for resumption of
Westports targets throughput growth in 2015 Malaysia-listed port operator Westports Holdings (Westports) aims to grow its container throughput in 2015. Westports, in its stock exchange filing to Bursa Malaysia, stated that the growth will be driven by its transhipment business, as well as the import and export segment. The expected growth
Zhuhai port profits up 285% in 1H15 Shenzhen-listed Zhuhai port group's profit for the first half of 2015 surged 285% to CNY49.8 million (USD8.02 million) from the loss of CNY27 million for the corresponding period a year ago, stated the company in a performance briefing on 1 August. The port recorded revenue of CNY993.7 million for
COSCO posts $3.5m net loss Singapore-listed shipbuilder COSCO Corporation Singapore (COSCO) posted a net loss of SGD4.8 million (USD3.5 million) for the second-quarter 2015 due to bearish market conditions. COSCO's group turnover dropped 26% from a year ago to SGD854 million in the second quarter, mainly because of low
Sainty Marine loses orders for 14 chemical tankers Shenzhen-listed Sainty Marine has lost all orders for 14 stainless steel chemical tankers placed by Celsius Shipping, which were planned to be built at its partnership yard Nantong Mingde Heavy Industry (NMHI). The 14 orders were cancelled in June 2015, with three of the newbuilds under
New ultra-low sulphur fuel introduced in Singapore South Korean bunker supplier SK Energy International (SK Energy) has introduced a new ultra-low sulphur fuel oil (ULSFO) marine fuel oil in the Port of Singapore. SK Energy stated that the ULSFO, which is also being supplied in South Korea and Rotterdam, the Netherlands, has sulphur content of no
Chinese vessel export growth down to 12.9% in H1 China's vessel exports' growth slowed down to 12.9% year on year (y/y), with total exports at USD14.6 billion in the first six months of 2015, according to customs statistics. In June alone, the exports decreased 16.5% y/y to USD1.9 billion, the customs said. The vessel exports are forecast to
China's refining reforms benefit products exports Ship-borne exports of refined products will increase from the 589,000 barrels a day seen in 2014
Latest Jones Act challenge rebuffed Businesses in Hawaii say Jones Act has damaging influence on trade and living costs
MSC Zoe takes bow in triple-first A christening with a difference as newest addition to MSC fleet named after Gianluigi Aponte's four-year-old grand-daughter
Box industry at risk from China slowdown Slowing economy will have significant impact on global throughput levels, say analysts
Capital Product eyes upside from refixing slew Despite partnership's longer horizons, MRs and suezmaxes may be up for renewal at right time
Navios Partners confident on sourcing boxship deals Angeliki Frangou-led owner says option dropped due to credit volatility
Hacking about the seaways A cautionary tale of cyber attacks, big data and why we should never stop looking out of the window
Scarbrough opens Scarbrough de Mexico Kansas City, Missouri -Scarbrough International, Ltd. a Kansas City, MO Headquartered International Logistics and US Customs Brokerage firm continues its North American growth by establishing a Mexican Logistics Firm, Scarbrough de M'xico S. DE R.L. DE. C.V. in Nuevo Laredo, M'xico.Scarbrough de México will operate as a full services logistics firm...
Port Manatee awarded federal security grant PALMETTO, Fla. - Port Manatee has been awarded a $326,250 federal security grant to be used in efforts to support the port's recovery and resiliency capabilities. The funding, through the Federal Emergency Management Agency's Port Security Grant Program, was announced July 30 by the U.S. Department of Homeland Security. The federal funds,...
Diana Containerships and Maersk reach charter agreement ATHENS, GREECE - Diana Containerships Inc. (NASDAQ: DCIX), (the "Company"), a global shipping company specializing in the ownership of containerships, today announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Maersk Line A/S for one of its Post-Panamax container vessels, the m/v Great. The...
Amid hacking fears, US cargo theft declines Amidst very real concerns about hackers taking control of trucks and automobiles, a new report from the FreightWatch International Supply Chain Intelligence Center says cargo thefts from trucks have actually declined. In the second quarter of 2015, there 178 cargo thefts in the United States at an average value of $189,307,...
Court rules Jones Act does not impact freight rates Port of HonoluluHawaiian shippers frustrated with high freight rates had their hopes for change dashed last week after a U.S. federal court rejected their bid to strike cabotage provisions from the U.S. Merchant Marine Act. The 9th Circuit Court of Appeals ruled Thursday that there is no link between the higher...
'Asset-light' business makes revenue, profit leap at ArcBest Transportation holding company ArcBest rode a company-wide wave of freight demand in the second quarter, increasing revenue 5.7 percent year-over-year to $696.1 million. ABF Freight, ArcBest's less-than-truckload subsidiary, increased revenue 2.3 percent to $504.4 million. Higher pricing helped propel total sales to those heights, making this year's second quarter the best...
Woo tapped to lead Busan port though transshipment effort Port of BusanWoo Ye-jong has been tapped to lead the Port of Busan in its effort to become an even larger transshipment hub, succeeding Lim Ki-tack who has been elected as the International Maritime Organization's next secretary-general. The appointment of Woo, 56, as president of the Busan Port Authority comes in...
Dairy, autos, pharma issues squelch TPP talks Trade ministers failed to cinch up a deal between a dozen Pacific Rim nations Friday, what could have been their last chance to negotiate the terms of a Trans-Pacific Partnership before the end of the year. Roughly 650 negotiators descended on the Hawaiian island of Maui last week to wrap up...
Halifax CEO bullish on new Asia, New England services The Port of Halifax, Nova Scotia, may be getting a new lease on life. On Monday, the CMA CGM Vivaldi docked at the Halterm Terminal in Halifax, Nova Scotia, with a cargo of containers from China, Vietnam and Malaysia for import into Canada and outbound containers for the ship's next...
China slowdown poses risk for ocean carriers LONDON - The slowdown in China's economy poses risks for container shipping but they are "far smaller" than the impact on the dry bulk market, according to Drewry Maritime Research. "But they are not inconsiderable and will contribute to slowing world box growth," the London-based analyst cautioned. Greater China, including Hong Kong,...
West Coast ports head south to salvage relations with fruit exporters Lara L. SowinskiThe Los Angeles Board of Harbor Commissioners and officials from the port are packing their bags and heading to Chile and three countries in Asia this month to shore up relations with key shipping lines and fruit exporters impacted by the recent 9-month-long labor dispute at the ports...
US domestic intermodal shippers moving loads back to trucks In the 18 months since the devastating 2013-14 winter wreaked havoc on rail service, the North American supply chain has been subject to increasingly frequent rumblings that major U.S.- and Canadian-based railroads would lose hard-won domestic intermodal business back to motor carriers. Railroad executives initially were quick to dismiss such...
Contship Italia inks Iran deal La Spezia Container Terminal, Italy, a Contship Italia terminal.LONDON - Contship Italia, Italy's largest container terminal operator, has signed a strategic memorandum of understanding with Sina Port and Marine, Iran's biggest port company, to take advantage of moves by the U.S. and the EU to ease sanctions following the nuclear...
Yusen Logistics swings back to quarterly profit Credit: Graham RichardsonJapanese international freight forwarder Yusen Logistics Co. returned to profit in the first quarter of fiscal 2015, which started April 1, thanks to robust revenue growth and the end of heavy losses caused by an antitrust lawsuit in the United States. Yusen Logistics posted a net profit of 642...
Transport Corporation of India profit jumps Transport Corporation of India posted a 17.4 percent jump in net profit in the first fiscal quarter, primarily on the back of strong gains from its freight division. The trucking and logistics giant earned Rs. 18.8 crore (approximately $2.9 million) in the three months through June compared with Rs. 16 crore...
TNT, FedEx bullish on merger despite EU investigation LONDON - FedEx and TNT Express said they still expect to merge in the first half of 2016 despite the European Commission's decision to launch an in-depth investigation of the US firm's 4.4 billion euro ($4.8 billion) acquisition of its smaller Dutch rival. The companies said they would work to address the...
HNA in bid battle for aircraft lessor Avolon after Swissport deal LONDON - China's HNA group is in a bid battle for Avolon, one of the world's largest aircraft lessors, just days after agreeing the $2.8 billion acquisition of Swissport, the world's largest airport cargo handler. HNA's Bohai Leasing unit offered to buy Avalon for $31 per share on Friday, valuing the Irish...
London Gateway logistics hub invites experimentation London Gateway wants shippers to use its new common-user facility as a testbed for trying out innovative logistics solutions, said its implementation director Graeme Clarke. The Logistics Centre, the first building constructed by London Gateway operator DP World as the hub of its logistics park, was opened on July 20 by...
Danaos profit multiplies Danaos reported a better-than-expected second-quarter profit as the New York-listed containership owner slashed financing costs and bolstered revenue.
US sanctions 10 ships The US Treasury Department applied sanctions against 10 ships and the network of Turkish shipowner Milenyum Energy in its efforts to target the support network for Syrian President Bashar al-Assad.
Oaktree picks Janholt for Torm seat Former J Lauritzen boss Torben Janholt is set to join the board of Torm as one of three people but forward by new owner Oaktree Capital.
Second-hand trumps resales A five-year-old VLCC purchased at today's prices will outperform a newbuilding bought as a resale that is nearly ready to sail, shipbroker Charles Weber estimates.
RBS hands DCIX $150m Royal Bank of Scotland (RBS) continues to write cheques for shipowners despite its aim to offload its shipping portfolio.
Diana fixes to Maersk Maersk Line has hired one post-panamax boxship owned by Diana Containerships for six to nine months.
TEN pair identified Tsakos Energy Navigation has revealed the identity of two older vessels disposed of during the second quarter with other tonnage likely to follow.
Precious loses more Precious Shipping has logged a bigger loss for the second quarter as it saw its operating expenses rise.
Oaktree pics Janholt for Torm seat Former J Lauritzen boss Torben Janholt is set to join the board of Torm as one of three people but forward by new owner Oaktree Capital.
Public prominence One-third of the global tanker fleet is now owned by stock-listed shipowning companies, according to data from EA Gibson.
RBS exit will be 'orderly' Any sale of Royal Bank of Scotland (RBS)'s vast shipping loans portfolio will be "orderly and professional", a leading shipowner says.
Diana sights resales Diana Shipping placed resales at the top of its shopping list as it plans to continue its counter cyclical expansion.
HNA behind Dorian buy China's HNA Group has emerged as the entity behind the purchase of Scorpio Tankers' last shares in Dorian LPG.
What's in a name? Bharati's new letterhead will help its eligibility for BIFR protection, reports say.
Ramsgate revival The UK port of Ramsgate has been without a ferry service for two years but the situation will change this autumn when Euroferries begins a new service to the French port of Boulogne.
PSC on entry warpath The Paris and Tokyo MOUs intend to target crew familiarity with enclosed space entry in a concentrated inspection campaign that kicks off in September.
Navantia confirms suezmaxes Spanish shipbuilder Navantia has confirmed orders for four suezmax tankers from Ibaizabal Group's Ondimar Transportes Marítimos LDA in a deal that includes options for a further two.
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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