Zhongchang Marine's senior staff quit as stocks stay suspended Senior staff of struggling Chinese coastal dry bulk shipping outfit Zhongchang Marine have resigned as the company continues to work through its debts. The company said in several filings to the Shanghai Stock Exchange that chairman Chen Shengjie, director Hu Yong, and supervisor Wang Jian have
Port of Gothenburg environmental discount attracts green ships One of the largest Nordic ports has announced that seven shipping companies and a total of 25 ships have signed up for its environmental discount scheme. Cleaner ships will receive discounts of 10% and 30% on harbour dues. Vessels scoring 30 points or less on the Environmental Ship Index and Clean
Pessimistic Farstad to lay up five ships Farstad Shipping, the listed Norwegian offshore services vessel owner, is to lay up five ships in an anticipation of further weakening of the market. A company statement said, "Farstad Shipping is planning to lay up two PSV and three AHTS in Norway due to an expected further weakening of the
High season fails to lift container rates Present high season in container shipping has not been strong enough to support freight rates and it is questionable whether the capacity cuts that alliances of lines have unveiled will be enough to support them either, a senior shipping analyst said. "Spot freight rates fell by 10% in September on
Hanjin Shipping may sell stake in H-Line Shipping South Korea's Hanjin Shipping, which has been trying to boost its liquidity since 2013, is considering selling its stake in H-Line Shipping. The sale could secure KRW150 billion (USD139.35 million) for Hanjin, South Korea's biggest container shipping company. Media reports claim the company aims to
Maersk Line starts direct Thailand to Australia service Maersk Line has launched first direct Thailand to Australia service starting from October 2015. The container shipping giant will make port-of-call in Laem Chabang, Thailand, connecting it with the Boomerang service to the main ports of Australia such as Fremantle, Adelaide, Melbourne, Sydney and
Pan Ocean executes fresh round of debt-to-equity swaps South Korean bulker operator Pan Ocean has executed another round of debt-to-equity swaps on 1 October. This saw 1,505,135 shares being issued to creditors at a price of KRW12,500 (USD10.58) each. These shares will go to creditors who had confirmed claim amounts on the initial rehabilitation plan
Milestone Chemical Tankers pool disbanded Just two years after its formation, the Milestone Chemical Tankers pool has been dissolved. The pool was started on 9 September 2013 by Mitsui OSK Lines subsidiary Tokyo Marine Asia and Norwegian outfit Jo Tankers. It announced that it has been disbanded as of 1 October. Milestone Chemical
SBI Offshore bags first solar power job Singapore-listed SBI Offshore has won a contract for the sale of solar power in the Maldives. The contract marks SBI Offshore's first solar power contract after shareholders in September approved the company's strategy to diversify into renewable energy. According to SBI Offshore's filing to the
Indian Register of Shipping forms advisory committee in Singapore The Indian Register of Shipping (IRClass) has established an advisory committee in Singapore in a bid to expand its footprint in Southeast Asia. The committee, comprising members from leading maritime and offshore companies based in Singapore, will help IRClass strengthen its ties with the maritime
US-flagged ro-ro ship El Faro missing in the eye of hurricane storm Joaquin Update: US Coast Guard is leading the search and rescue operation for vessel that lost propulsion and communication with mainland
VLCC spot rate soars to seven-year high of $104,000 per day Frenzied spot chartering pushes daily earnings on benchmark Middle East-Asia trade up by more than $30,000 this week
Thirty shipping companies face legal action on OW Bunker futures contracts Estate argues counterparties should pay up on in-the-money derivatives
Canadian OW interpleader case won by charterer and shipowners Judge rules that physical supplier should be paid, rejecting claims of ING and receivers
Shipping 'watching pennies' as OpCosts show third successive fall Outcome defies inflation expectation, says Moore Stephens
We all need to start thinking 'bigger than bigger' The Lloyd's List Global Awards highlighted the need for an audacious re-thinking of our industry
Rate volatility brings little respite for carriers SCFI takes a week off as Golden Week gets underway, but it is no time for carriers to relax
VLGC spot rate drops to four-week low Holidays have slashed chartering activity but the orders are quietly piling up in the background
American Club launches new hull insurer in tie-up with Greek mutual American Hellenic, to be managed by Hellenic Hull team, is targeting 2,000 ships by end-2016
Hoegh LNG completes dropdown of FSRU Gallant into master limited partnership Completion of transfer means long-awaited distribution increases to investors are now possible
Crowley Maritime takes delivery of first of four Jones Act product tankers Crowley ordered the predominantly LNG-propelled vessels in August 2013 in a joint venture with Aker Philadelphia Shipyard at a total contract price of approximately $500m
Subic port container volumes double At the current rate, the port expects 2015 shipping volumes to double compared with last year
Matson closes $75m debt private placement Proceeds will be used for general corporate purposes
Why weight? The clock is ticking The industry must step up to its responsibilities as a significant amendment to the Solas Convention mandating the verification of gross mass of containers will come into effect next July
Gondan Shipyard continues with expansion plans The yard recently completed a facilities upgrade and is looking at further expansion
Beaching in South Asia not an issue if safeguards are in place, says Wirana Ship recycling yards should be assessed individually rather than being hit with a blanket ban on beaching, urges finance chief
Maersk Line to add a Thailand port to its weekly Boomerang service The link removes the need for transshipment of cargoes elsewhere in Southeast Asia
DNV GL introduces new ship class rules Revision allows DNV GL to take modern tools and software into consideration
DP World to expand Caucedo port container cargo capacity Dominican Republic facility will be able to handle bigger vessels passing through widened Panama Canal
Nepa Projects launches Indonesian coal shipping venture Company will source ultramax, supramax and panamax bulk carriers to transport coal to the rest of Asia
Do ultra large containerships distort port competition, asks lawyer? Europe's ports are becoming a battleground when it comes to megaships, but European competition law may be enforced
Lloyd's List Global Award winners revealed Lifetime achievement award for Flemming Jacob with Euronav taking company of the year
Data sharing seen as roadblock to 'digital transport' Disagreement over data sharing - what information is shared and with whom - remains a roadblock to the expansion of intelligent transportation systems and the "Internet of Transportation Things." In Europe, and elsewhere, that could delay the rollout of technologies meant to speed traffic and help utilize both passenger and...
India approves funding for free trade zone at largest port The Indian government approved allocating Rs. 468 crore (approximately $72 million) to set up basic infrastructure for the long-awaited special economic zone at Jawaharlal Nehru Port Trust, allowing the country's largest container handler to begin construction on a project that is designed to help drive up its cargo volumes. The multi-product...
Maher loses appeal of ruling on NY-NJ terminal rent A federal appeals court has handed Maher Terminals the latest in a series of setbacks to the company's effort to lower its rent on the largest container terminal in the Port of New York and New Jersey. The 3rd U.S. Circuit Court of Appeals rejected Maher's claim that the Port Authority...
Coast Guard searches for missing TOTE ship off Bahamas The U.S. Coast Guard said today it was searching for a missing TOTE Maritime roll-on, roll-off/container ship with 33 crew members that was caught in Hurricane Joaquin, near Crooked Island, Bahamas. The El Faro was caught in the storm while en route to San Juan, Puerto Rico, from Jacksonville, Florida, the Coast...
LTL base rates rising on both sides of the Atlantic Trucking companies are raising less-than-truckload rates, at least on paper. FedEx Freight, the largest U.S. LTL carrier, announced a 4.9 percent general rate increase that takes effect in January last month, and today Con-way Freight, the second-largest LTL carrier, followed suit. Con-way Freight's 4.9 percent general rate increase is effective Oct....
Oakland wins EPA grant to reduce emissions The Port of Oakland has won a grant from the Environmental Protection Agency to help it reduce carbon emissions from some of its dockside equipment. The $277,885 grant will be used to upgrade four rubber-tire gantry cranes and a top-pick at the port's TraPac terminal with either clean diesel engines or...
Assurance of Supply: How Confidence in a Reliable Supply Stream Creates Healthy Companies One of the greatest supply chain challenges that companies face is to reliably and profitably meet global demand. Outsourced manufacturing, lengthy global supply chains, a large number of suppliers, and volatile demand all create an environment where supply chain decision-makers worry that they can't deliver on promises they've made. But companies...
Free trade agreement puts pressure on Vietnam port expenses Cai Mep International TerminalVietnam reached a framework deal with the European Union on a free trade agreement in August, increasing pressure on Hanoi to streamline the country's logistics costs. "Vietnam must do more to make its cargo operations more competitive with its regional rivals," Robert Hambleton, general director of Cai Mep...
Inventory Intelligence Getting stock levels right has always challenged retailers. But now, a revolution in customers' shopping habits has rendered all traditional inventory management tactics inadequate. Today's retailers need to look upstream in the supply chain network to solve inventory problems. Yet this upstream focus remains dark, uncertain territory for many. Retailers...
Container lines study Honduras rail bridge as canal alternative Federal Maritime Commissioner William Doyle addresses the audience at Port of New York-New Jersey Port Industry Day.Some ocean carriers are exploring a rail route through Honduras to move containers from Asia to the North American East Coast, a Federal Maritime Commissioner said at a Port of New York-New Jersey Port Industry...
Container ship charter market squeezed Expectations of a rebound in daily rates for charter container ships following the end of the summer holidays are being quashed as container lines reduce their active route capacity. Further, another significant drop could be in store for coming weeks as China's factory output and export loadings slow to a trickle...
Russia's rail trade with Asia Pacific states rebounds While containerized rail traffic between Russia and Asia Pacific states is down 20 percent year-over-year in the first seven months of 2015, a closer look at the data reveals an upward trend is taking holding. For example, even though containerized rail trade between Russia and the Republic of Korea for the...
XPO acquisitions underscore importance of assets - owned or not To own or not to own assets: that is the question facing third-party logistics and transport operators in a world where the supply and cost of shipping capacity, on land at least, is increasingly uncertain. XPO Logistics believes it has an answer: Do both. The fast-growing, diversified logistics operator plunked down...
NLRB deals another blow to the ILWU in Portland The National Labor Relations Board determined that International Longshore and Warehouse Union Locals 8 and 40 in Portland violated federal laws prohibiting secondary boycotts by engaging in work stoppages and slowdowns, and on Wednesday ordered the ILWU to cease and desist from those activities. The legal steps necessary for the port...
Maersk launches direct Thailand-Aussie service HONG KONG - Maersk Line will this month start a direct service between Thailand and Australia, eliminating the need to make transshipment calls at other Southeast Asian hubs and cutting down both transit time and costs for shippers.The new Boomerang service will make a call at the Thai port of...
Middle East and South Asia carriers defy air cargo slump Middle Eastern carriers have seen cargo volumes soaring in the past 12 months, beating the global average growth percentage by almost three times.HONG KONG - Global air cargo remains stagnant with three-quarters of the year gone, but the Middle East and South Asia market has shrugged off the negative trend...
NLRB deals another blow to the ILWU in Portland The National Labor Relations Board determined that International Longshore and Warehouse Union Locals 8 and 40 in Portland violated federal laws prohibiting secondary boycotts by engaging in work stoppages and slowdowns, and on Wednesday ordered the ILWU to cease and desist from those activities. The legal steps necessary for the port...
Canadian trucker unionfiles suit against Vancouver's clean-truck requirements Unifor, the union representing owner-operator truck drivers at Port Metro Vancouver, has filed suit in federal court charging that Canada's largest port is enforcing a clean-truck requirement that will cost each of its members thousands of dollars, while at the same time allowing terminal operators to use cargo-handling equipment that...
Extended free time contributes to chassis shortages in LA-Long Beach Spot shortages of chassis continue to plague terminal operators in Los Angeles-Long Beach, seven months after the portwide "pool of pools" was rolled out by chassis-leasing companies with the intention of eliminating that very problem. When a terminal does not have sufficient chassis to handle import loads, containers back up on...
Truck appointments to be tested in NY-NJ port Loading trucks at GCT Bayonne, site of the pilot program.Tests of truck appointments at the Port of New York and New Jersey will begin late this year or in early 2016, said Rich Ceci, vice president, information technology, at GCT USA. GCT Bayonne's semi-automated terminal will launch a pilot of an...
US regulators start final stage of truck-driver 'restart' study U.S. researchers are ready to crunch thousands of days worth of data collected from more than 220 truck drivers to determine how certain hours-of-service rules affect fatigue, health and safety. The data was collected this year for a congressionally mandated study of the impact of the revised restart provisions of the...
Navig8 linked to STX order Navig8 Product Tankers is rumoured to be readying a return to the newbuilding market with an order for a couple of medium range (MR) vessels.
Teekay Offshore pays more Teekay Offshore Partners hiked its payout to shareholders by 4%.
MES buys TGE Marine Mitsui Engineering and Shipbuilding (MES) is snapping up German tank designer TGE Marine in a EUR 164m ($185m) deal to boost its gas ship offering.
Cardiff confirms LPG debut Greek owner's first move in the sector is secured with HHI newbuilding order.
Long and short looks good for Vs China VLCC has fixed out one of its tankers on a healthy period contract.
Tanker attacked Pirates have boarded a chemical tanker in Malaysian waters, the International Maritime Bureau (IMB) reports.
Deeper cuts needed More lay-ups are required in the North Sea offshore sector to lift falling rates.
Cool Pool goes live LNG shipping's biggest attempt yet at a shipping pooling operation has started operations.
Joaquin strikes general cargoship Crew members abandoned a general cargoship after it was beset by Hurricane Joaquin and began to sink off Haiti.
EMGS extends Boa charter Oslo-listed company stretches contract with offshore vessel owner for eight months.
Odfjell: 'as good as new' Odfjell has upgraded a major retrofitting project that will slice up to 20% from the fuel consumption on a string of vessels - bringing them on a par with today's eco newbuildings, the owner claims.
Canal man's cash crash The Chinese tycoon building the $50bn Nicaraguan canal has seen his worth drop 84% since June.
Stocks suffer in Q3 A third quarter crash in the global stock markets spared only shipowners in the stellar tanker market.
Farstad lays up five Farstad Shipping has become the latest owner to pull vessels out of the market as offshore companies are preparing for a tough winter.
Nigeria seizes tanker Nigeria's military has arrested a tanker suspected of loading stolen crude.
VietSea buys Konig tanker Ho Chi Minh City-based VietSea has reportedly acquired the Konig & Cie-controlled 37,000-dwt products tanker King Eric (built 2007) for $10.2m through its shipowning arm Prime Tankers.
How much is too much? We take a look at what was said in the market over the past week.
Shipping hope for Yemen? The US has told the United Nations (UN) that it wants shipping operations to increase to war-torn Yemen.
Siem ends Petrobras deals Norway's Siem Offshore has agreed a termination of charters for three fast supply vessels (FSVs) in Brazil.
Epic completes fundraiser Singapore LPG player Epic Gas has closed its previously announced $120m senior secured credit facility.
ACP in bond milestone The Panama Canal Authority (ACP) has raised $450m from a bond issue to help finance completion of a third bridge over the waterway.
Matson closes bond offering US carrier Matson says it has successfully raised $75m from 30-year final maturity senior unsecured notes.
Maersk targets Thailand Service will connect Asian nation with Fremantle, Adelaide, Melbourne, Sydney and Brisbane.
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