Hanjin box ship catches fire off Suez Canal An ultra-large container ship owned by Hanjin Shipping caught fire as it was about to transit the Suez Canal on 1 May. The Suez Canal Authority said that the 13,000-teu Hanjin Green Earth was 48 km to the south of the canal when some containers caught fire. The flames were extinguished after three
Growth slows for public companies Newbuild orders by US-listed shipowners have dropped sharply during the first four months of 2015, according to an IHS Maritime analysis. US-listed companies have purchased or ordered just 29 vessels in January-April 2015, excluding related-party deals. That is down 56% versus 66 ships in the same
Yangzijiang delists in Taiwan Chinese shipbuilder Yangzijiang Shipbuilding Holdings, listed in both Singapore and Taiwan, announced on 30 April that it will terminate its listing in Taiwan. The shipbuilder cited the small trading volume of its units, called Taiwan Depository Receipts, as well as the costs of staying listed in
Chinese ports handled 202 million teu in 2014 Ports in China handled 12.45 billion tonnes of cargos and 202 million teu of containerized cargo in 2014, up 5.8% and 6.4% year-on-year, according to data released by the Ministry of Transport on 30 April. The container throughput of Chinese ports was only 10 million teu back in 1998 and the figure
Westports container throughput surges 17% Malaysian port operator Westports Holdings (Westports) has seen a 17% year-on-year growth in its container throughput to 2.26 million twenty-foot equivalent units (TEU) for the first quarter that ended 31 March 2015. The company's transshipment volumes also rose by 20% y/y, reflecting the positive
Cosco Corp profit drops 82% in 1Q15 Singapore-listed Chinese shipbuilding and dry bulk shipping group Cosco Corporation Singapore (Cosco) posted a net profit of SGD4.25 million (USD3.19 million), down 82% year-on-year for the first quarter that ended 31 March 2015. Revenue also dropped 5% to SGD990,000 in 1Q15 as compared to SGD1.04
Unprecedented Capesize deluge forces down scrap prices At least 10 Capesizes and very large ore carriers were offered for demolition sales last week, putting even more pressure on scrap prices. As the Baltic Dry Index shows no sign of sustained improvement, ship owners have been offloading older Capesizes and other bulkers to minimise losses.
Another tanker hijacked for fuel In the fifth incident of its kind this year, a tanker was attacked and had its fuel siphoned off Port Dickson, Malaysia, on 2 May. Singapore-headquartered anti-piracy watchdog, ReCAAP Information Service Centre (ReCAAP ISC) said that the Singapore-registered products tanker, Ocean Energy, departed
Osaka's throughput tumbled in January The Port of Osaka in western Japan saw its cargo traffic plummet 10.4% in January from a year earlier to 6.558 million tonnes, according to figures released by the Osaka municipal government on 30 April. Of the 6.558 million tonnes, 2.914 million tonnes came from foreign trade, down 7.1% from a
A case for the south Europe's southern gateways are looking to position themselves as a viable alternative to the giants of the north
Fire hits 13,000 teu Hanjin Shipping vessel Blaze started as 2013-built Hanjin Green Earth transited the Suez Canal
UASC open to possible Hamburg Süd tie-up with Ocean Three Move is too early now but it would make sense in a couple of years, says Lars Christiansen
Divided we stand The realities of what Brandt warned us of so graphically in 1980 are now driving desperate people into taking risks on the Mediterranean
Drewry: Hamburg Sud will eventually join Ocean Three Increasing cooperation between Hamburg Sud and carriers in the Ocean 3 alliance suggests it "seems only a matter of time" before the German container line joins the alliance, Drewry Container Insight said in a speculative commentary this week. Neither Hamburg Sud nor the Ocean 3 carriers - CMA CGM, China Shipping...
Truck driver scarcity pulls down Con-way volume, profit The so-called driver shortage is taking its toll on volume growth and further heightening the need for pricing discipline, according to the president of the third largest transportation and logistics company in America. "The tight driver market is limiting our ability to fully seat our fleet," said Con-way President and CEO...
Teamster-backed drayage company with employee drivers launches Eco Flow, a Southern California harbor trucking company backed by a venture capital firm in Los Angeles, on Monday announced with the Teamsters union the formation of a motor carrier with employee drivers. The announcement is significant because the motor carrier and its financial backer, Saybrook Capital, will set out to...
Matson profit quadruples on China service strength Matson's first quarter operating income quadrupled from a year earlier as the carrier's niche China-to-U.S. West Coast service continued to benefit from delays afflicting other trans-Pacific carriers. Matson reported $44.9 million in operating income, compared with $9.9 million in the first quarter of 2014, as revenue rose to $398.2 million from...
Trans-Pacific contract rates up to East Coast, flat to West Coast Trans-Pacific ocean carriers have been digging in their heels to get rate increases in their 2014-2015 trans-Pacific ocean contracts and have been getting increases in some cases, especially on routes from Asia to East Coast ports, but rates negotiated for shipments from Asia to West Coast ports have been flat...
Michaels named chief commercial officer at TRAC Mark Michaels has been named senior vice president and chief commercial officer at chassis lessor TRAC Intermodal, and will report to CEO Keith Lovetro. Michaels succeeds Alan Messing, who is retiiring after a 40-year career in the industry. Messing is a former president of the Intermodal Association of North America. During the...
BNSF profit jumps 44 percent despite drop in intermodal traffic BNSF Railway's net first-quarter earnings jumped 44 percent to $1 billion despite West Coast port congestion that pulled down its intermodal volume roughly 5.5 percent in the period. With marine terminals restoring fluidity to their operations and no ships anchored off the Los Angeles-Long Beach port complex - a major improvement...
Union Pacific Plans to Invest More Than $109 Million in its Iowa Rail Infrastructure Union Pacific plans to invest more than $109 million in 2015 to improve Iowa's transportation infrastructure. The company's multi-million dollar private investment will enhance employee, community and customer safety and increase rail operating efficiency. Freight railroads like Union Pacific operate on track built and maintained without taxpayer funds. Union Pacific's...
CEVA awarded ETIKA 2014 award: The Most Ethical Companies of Turkey CEVA Logistics, one of the world's leading supply chain management companies, has been awarded the ETIKA 2014 award for the most ethical company by EDMAR (Ethical Values Center in Turkey). The award is designed to create awareness about ethics and business morals and to reward companies and managers which are...
FedEx Pledges $1 Million in Aid to Support Relief of Nepal Earthquake Disaster FedEx Corp. (NYSE: FDX) has committed approximately $1 million in cash, transportation support and a chartered flight to deliver critical medical aid and supplies to Nepal in the wake of last week's devastating earthquake. The Memphis-based global transportation and logistics company is mobilizing its disaster relief program through its existing...
LeanCor Supply Chain Group Opens New Atlanta Training and Consulting Office LeanCor Supply Chain Group has announced the opening of its new regional office for Lean training and consulting services in the Greater Atlanta Area. The office is located in the Westpark Suites building at 2002 Commerce Drive North in Peachtree City. LeanCor chose to locate the office in Atlanta due to...
Siemens and duisport enter into strategic cooperation for the development of new truck traffic management systems for sea and inland ports With North Rhine-Westphalia Minister of Transport Michael Groschek in attendance, Siemens and Duisburger Hafen AG (duisport) signed a strategic cooperation agreement today. The purpose of this cooperation is the joint development of innovative concepts for optimizing traffic in multimodal transportation hubs. Siemens' intelligent truck supply management system "Integrated Truck Guidance"...
AAPA Supports Bi-Partisan 'Move America' Bonding, Tax Credits Legislation by Senators Wyden & Hoeven The American Association of Port Authorities (AAPA)-the unified and recognized voice of seaports in the Americas-publicly voiced support for the bi-partisan Move America Act of 2015 infrastructure bonding and credits legislation introduced today in Congress by Senate Finance Committee Ranking Member Ron Wyden (D-OR) and Senator John Hoeven (R-ND). The...
Lack of ships anchored at LA, Long Beach signals 'new normal' Noting what could be the "new normal" at the ports of Los Angeles and Long Beach, the Marine Exchange of Southern California said Monday there were no container ships at anchor, and none are expected to stop at anchor on Tuesday, either. The movement of vessels directly to berth upon arrival...
Higher pricing lifts ArcBest to first-quarter profit For the first time in seven years, ArcBest Corporation posted a first-quarter profit, thanks in large part to competitive pricing in spite of diminishing volumes, the company said Monday. Tonnage for the Arkansas-based trucking company fell 1.3 percent year-over-year in the first three months of 2015. But the company's net profit...
INTTRA launches e-booking tool to track containers INTTRA is moving into a new market: selling data to the beneficial cargo owners that book cargo space through its e-commerce portal. The provider of electronic cargo-booking services for 54 ocean carriers is rolling out a service called INTTRA Vision, which uses e-booking data from carriers, terminals, freight forwarders and non-vessel-operating...
Mediterranean crisis is unsustainable for shipping The terrible tragedy on April 19 is believed to have cost hundreds of people their lives. The incident is potentially game-changing and may at last spur all European Union member states to take the urgent collective action needed to prevent further massive loss of life at sea. In the past 12...
German ports brace for near week-long rail strike LONDON - German locomotive drivers began near week-long strike Monday afternoon that threatens to clog container yards at the country's leading ports and cause massive disruption to industrial supply chains across Europe's largest economy. The six-day strike by the militant GDL drivers union - the eighth since January and the longest...
Matson profit soars Matson delivered better-than-expected profit growth in the first quarter as the US containership and conro owner said its China service is expected to see continued improvements.
Cash shot for EAS? Shareholders in Estaleiro Atlantico Sul (EAS) are considering a cash injection to help bolster the shipyard's troubled finances.
RGL cape fetches $8m A 15-year-old RGL Shipping capesize has been sold for demolition in an $8.23m deal.
Reefers rebound Siem Shipping has returned to profit in the first quarter despite falling revenue.
NMM stronger New York-listed Navios Maritime Partners (NMM) has edged up adjusted profit in the first quarter despite revenue falling.
Two in, one out Norway's Siem Shipping is selling an older, smaller reefer while buying two chartered-in ships.
CSDC brings in nine China Shipping Development Co (CSDC) has signed a deal to charter in nine bulkers from sister companies until the end of the year.
NewLead loss to fall Greece's NewLead Holdings has delayed its annual report for 2014 as it predicted a big fall in its loss.
NCC buys MR duo National Chemical Carriers (NCC) of Saudi Arabia has bought the last two tankers owned by a Norwegian KS and managed by Westfal-Larsen.
Damen heads south Dutch shipyard group Damen has signed a deal to offer shiprepair services in the Caribbean.
Gulf Nav bailed out UAE tanker owner Gulf Navigation has received a $69.54m bail out from shareholders to cut accumulated losses as directors were cleared to begin debt talks with creditors.
Tigris "could be sold" The Iranian oil company behind the violent seizure of a Maersk Line boxship could have the vessel or its cargo auctioned if the Danish owner does not settle a claim for compensation.
Bergen sale off Norway's Bergen Group has failed to sell off its Hanoytangen-based rig services business.
Morch takes Odfjell reigns Odfjell has named Clipper Group co-chief executive Kristian Morch as its new chief executive, in a statement released Monday.
ULCC suffers Suez fire A 13,000-teu containership has suffered a minor fire as it passed through the Suez Canal over the weekend.
Wintermar wiped out Wintermar Offshore Marine has made a poor start to the year with its net profit virtually wiped out compared to a year ago.
Asian tanker hijacked A small products tanker was hijacked in the Straits of Malacca on Saturday and had part of its cargo stolen.
Busan eyes expansion South Korea's Busan New Port has unveiled plans to add a further 15 berths in a move that will increase container capacity by 15.8mteu.
Aegean to file annual report 'as promptly as practicable' Aegean explains to the US Securities and Exchange Commission why it missed an April 30 deadline.
GOIL boast a 'premier bunkering operation' Managing director of Ghana's state-owned oil company repeats claims of expertise.
Moves to differentiate between marginal and gross ECA non-compliance Signs that enforcement will treat accidental sulphur infractions differently.
Bunker savings are a 'big area of focus' Cruise line CEO highlights fuel efficiency in its business model.
Engines 'tested and certified' to use ethane as fuel After extensive testing programme with Evergas.
New CEO to start work at Odfjell Morch to take over before November.
Fuel saving bulker ordered from Japanese yard First order for its newly developed 'eco' log and bulk carrier, says Tsuneishi.
WFS: OW Bunker impact 'exaggerated' Performance in fourth quarter 'totally unrelated to OW', says CEO.
Ro-pax service to return on continental route Ferry route falls inside European ECA.
EU to assess impact of new ECA limit Aims to find out if it has improved air quality, may result in more regulations.
'Divided' maritime approach on stricter sulphur limit Shipping presented with a variety of solutions but they are 'not without flaws'.
Storm forces closure of Peru's Callao port Rough seas blamed for shutdown.
Fuel siphoned from tanker during hijacking Incident occurred in the Strait of Malacca over the weekend.
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