Ernst Russ sees new for horizons Panamax box ships Market prospects for Panamax container vessels have substantially improved since last year's demolition push and the recent rally in charter rates is not just a flash in the pan, according to Ernst Russ Shipbroker. Demand for this ship class by liner operators will remain relatively strong and
Defence business drives cash-rich firms to grab yards Reliance Infrastructure's acquisition of shipbuilder Pipavav Defence and Offshore Engineering could be a forerunner of similar deals involving some of India's financially stressed yards. Indian companies with deep pockets will be looking to tap into USD250 billion of government-funded warship
MH370 search may be scaled back Australian parliament today (5 March) marked the first anniversary of the disappearance of MH370, hinting that the search could be wound back in coming months. Sunday 8 March will mark one year since Malaysian airline MH370 and all 239 on board disappeared without trace. Describing the loss "as
JR Shipping takes over distressed feeders Dutch shipowner/manager JR Shipping has been tasked by ship financier Bremer Landesbank to take over the management of six distressed container feeder ships from its portfolio. The ships - Hudson River, Yellow River, Pearl River, Yangtze River, Mekong River and Amur River - are geared CV 1100 class
Bulc pledges action by May on Med migrant crisis European transport commissioner Violeta Bulc has promised shipping leaders "concrete action" by May to address the Mediterranean migration crisis and the heavy loss of life it has caused among migrants trying to reach the European Union by sea. The issue was raised by leading shipping industry
Australian port charge rise draws criticism A proposal to increase rents at DP World container terminal in Melbourne Australia by 750% has provoked a backlash, with Shipping Australia Ltd warning that some liner vessels could bypass the port. Shipping Australia Ltd, which represents foreign shipping interests in Australia, released a
Insight: Investors continue to find opportunities in shipping Despite setbacks in dry bulk and other sectors, investors will continue to seek and find opportunities in shipping, according Jeff Pribor, global head of maritime investment banking at Jefferies. During an in-depth interview with IHS Maritime's Greg Miller on 28 February, Pribor - one of
VLCC newbuilding orders relatively quiet Despite a contango in the oil market resulting in an improvement in fleet rates, newbuilding orders have been relatively low, according to tanker brokerage and consultancy Poten & Partners. IHS Maritime's Sea-web.com data show that there are 89 very large crude carriers (VLCCs) on order, including
Eitzen Chemical shareholders accept exchange offer The majority of shareholders in Eitzen Chemical, the listed Norwegian chemical carrier company, have accepted a voluntary offer from Team Tankers International to exchange their shares to those in the latter company. "The offer period in the Exchange Offer expired on 28 February 2015 at 06.00 CET.
Korean shipbuilders unlikely to lead industry recovery Although the global shipbuilding industry has entered a recovery period thanks to more shipbuilding orders than deliveries, South Korea's players might not benefit the most from the boom, said an analyst in a research note. Samsung Securities' Han Youngsoo said, "After shipbuilding prices plunged
Manila's throughput up despite congestion Cargo volumes in the Philippines rose 5% despite the congestion in Manila, the Philippines Ports Authority (PPA) said in a notice on its website. The volume rose about 5% to 211.20 million tonnes for 2014 from 201.91 million tonnes posted in the same period last year, PPA's data showed. "Foreign
Sainty Marine wins repeat orders from Celsius Shipping Shenzhen-listed Sainty Marine continues to win new orders from Celsius Shipping amid its loss-making takeover of Nantong Mingde Heavy Industry. The new orders for four 24,600 dwt stainless steel chemical tankers were specified as repeat orders from Celsius Shipping with costs of about USD40 million
Golar LNG gets into bed with the big boys Partnership with major Russian gas producer adds new dimensions and weight to Golar's standing
Irish Continental doubles pretax profits Improvement down to Irish Ferries fleet expansion
Bunker hedging clips d'Amico results Italian product tanker player buoyed by freight market improvements despite loss on derivatives
Manila sees box volumes slow as congestion takes its toll Total volumes through the port fell by 2.6% in 2014 but congestion continues to ease
Pangaea wins transport deal for 2m tonnes of steel products US-based bulk owner's share price soars
New Middle Eastern refinery capacity boosts product tanker earning power Owners such as Scorpio Tankers are benefiting and ordering more new product tankers to take further advantage
Governments must act on migrants at sea, IMO head insists State-funded search and rescue vital, says Sekimizu
ICTSI records higher net profits in 2014 on overseas expansion, one-off gains Consolidated handling volume of Philippine port firm increases 18% on year to 7.4m teu
Golar LNG and Russia's Rosneft in new gas partnership Partnership with energy giant Rosneft opens new doors for Golar as it aims to tie up all aspects of the LNG chain
Yard Talk | Jack-ups redux: a worrying situation Deliveries of speculative jack-ups begin in the second half of 2015. But there's no work for them
Drayage community praises new LA-LB gray chassis pool LONG BEACH, California - The gray chassis pool in Los Angeles-Long Beach has been operating for only four days, but the harbor trucking community likes it. "I think it's going fine," Fred Johring, chairman of the Harbor Trucking Association of Southern California, said Thursday. "We are still seeing some shortages, but...
Brazil truck disruptions diminish as president signs trucking bill Brazilian truck drivers rolled back many road blockades this week after President Dilma Rousseff signed a "trucker's bill" aimed at resolving some long-standing truck driver grievances. However, trucker protests continue at a diminished level in parts of the country, according to news reports, cutting into truck traffic at a key...
Mexican ports unlikely to win big from West Coast rerouting Port of Manzanillo, MexicoLONG BEACH, California - Despite ongoing congestion at the Los Angeles-Long Beach port complex, don't expect Mexican ports to become major gateways for U.S.-bound cargo anytime soon, Transplace CEO Thomas Sanderson said Tuesday. Container volume growth at Mexican ports has grown at twice the pace of their North American...
Spot truckload rates from LA rise as port works to clear logjam The tentative agreement between West Coast longshore workers and terminal operators is already affecting truck pricing, with spot market dry van rates from Los Angeles rising 4 cents to $1.92 per mile on average in the week that ended Feb. 28, according to DAT Solutions. The increase follows weeks of depressed...
Cargomatic deploys technology to help cure container port congestion LONG BEACH, California - Cargomatic, the company driving the "Uberization" of local trucking in Southern California, wants to use its technology to break the massive container logjam at West Coast ports. The "Silicon Beach" tech company is offering a free-flow program designed to get ocean containers stacked up in port...
Vancouver terminal remains closed as fire crews contain blaze Gate operations resumed Thursday morning on the south shore of Burrard Inlet at Port Metro Vancouver, with the exception of the Centerm container terminal, after a four-alarm chemical fire closed the facilities Wednesday. The fire forced employees at the terminal and nearby port properties to evacuate the area, as fire crews...
Rio de Janeiro port to begin dredging process Rio de Janeiro will be the first container port to benefit from Brazil's $1.28 billion dredging program. Edinho Araujo, head of the Special Ports Ministry in Brazil, has just signed a Reais210 million (US$70.54 million) contract with dredging companies Van Oord and Boskalis to deepen the navigation channels to the port...
TPM 2015: A Conversation With Maersk CEO Soren Skou Maersk Line CEO Soren Skou is at the vanguard of the shipping industry's years-long battle to instill stability during a period of intense turbulence. In this one-on-one conversation with Peter Tirschwell, Chief Content Officer, JOC, at TPM 2015, Skou offers his views of the state of the market, outlook for...
Seatrade CEO: Specialized reefer carriers' market share loss overstated LONG BEACH, California-Despite the perception that specialized reefer carriers are bleeding market share to containerized liners, a closer look at the industry reveals quite a different story, said Seatrade Group CEO Yntze Buitenwerf said this week at the 15th annual TPM conference. In 2000, just under 50 percent of refrigerated cargo...
Corps awards $134.5 million Savannah dredging contract The U.S. Army Corps of Engineers awarded a $134.5 million contract for deepening the Port of Savannah's outer harbor channel 18.5 miles into the Atlantic Ocean. The project is the first phase of work to deepen the 40-mile shipping channel to at least 47 feet. The estimated total cost will be...
Port of Rotterdam adding more than 6,000 reefer plugs The port of Rotterdam is expanding its reefer plugs by 50 percent from 12,400 to 18,500 thanks to additional infrastructure contributed by Maasvlakte 2 - the western expansion of the Rotterdam port area in the North Sea. With the peak export season for fruits from South America and South Africa getting...
Will cloud technology lead to clearer decision-making on sourcing? More than 200 companies, from General Electric and Caterpillar to Siemens and Toyota, have brought production they originally outsourced overseas back to America since 2010, increasing the number of U.S. manufacturing jobs by 650,000. In a recent survey by Boston Consulting Group, another 24 percent of senior manufacturing executives at companies...
Toll executive compares Japan Post takeover to DHL expansion LONG BEACH, California - Toll Global Forwarding CEO Paul Coutts has drawn a parallel between the Japan Post acquisition of Australia's Toll Holdings last week and the Deutsche Post takeovers that turned DHL into a global giant, giving an insight into the bold ambitions of the Melbourne-based logistics operator.In the...
Idle box ship fleet expected to keep growing The idle container ship fleet has increased over the past two weeks and likely will continue to grow as a steady stream of new vessels is delivered, according to industry analyst Alphaliner. There were 110 jobless vessels above 500 TEUs with a combined capacity of 206,000 TEUs as of Feb. 25,...
Port of Rotterdam revenue up, profit down The port of Rotterdam Authority's revenue rose in 2014 on increased activity in Europe's largest container hub, but profits were reduced by higher interest charges linked to record investments in new facilities. The 3.1 percent growth in revenue to 660 million euros [US $733 million] was flanked by a 4.9 percent...
ICTSI's new terminals push up volumes and revenue Four new reach stackers have been deployed at ICTSI's Subic Bay and Manila terminals to handle increasing volumes.HONG KONG - International Container Terminal Services, Inc. (ICTSI) reported a 6 percent growth in net profit in 2014, driven by solid revenue increases in its international expansion.The Manila-based terminal operator posted revenue...
India dockworkers defer nationwide strike for one week Indian dockworker unions have tentatively agreed to defer a nationwide indefinite strike that was to begin March 9 by a week, setting the stage for negotiations between the stakeholders to reach a settlement. The decision came after the chief labor commissioner appealed to union leaders to allow until March 16 to hold further consultations on...
US perishable trade growth outpacing total trade gains LONG BEACH, California - While the growth pace of overall U.S. trade is slowing, perishables trade expansion is "significantly faster," World City President Ken Roberts said at JOC's 15th annual TPM Conference. Close to 10 percent of U.S. trade is made up of perishables, therefore "the opportunity for expansion is great"...
Standoff continues Strikes at more than a dozen US refineries and chemical plants continued today after Shell and the United Steelworkers union (USW) agreed to postpone labour discussions until next week.
Best in class Lloyd's Register made waves today after confirming reports that it has secured a contract to class what are being touted as the largest containerships ever built.
DIS eyes double sale d'Amico International Shipping plans to sell at least two of its older vessels when the opportunity arises.
Grimaldi to splash $300m Italy's Grimaldi Group is closing in on an order for five big car carriers worth $300m.
SALT set to fix its wounds Sale-and-leaseback deals are the latest item on Scorpio Bulkers (SALT)'s agenda as it looks to bolster its balance sheet in a weak market - but distressed deal hopefuls will need to look elsewhere.
HMM scraps capes South Korean shipping giant Hyundai Merchant Marine (HMM) has reportedly sold two capesize bulkers for demolition.
Celsius orders four Celsius Shipping has ordered four 24,600-dwt chemical tankers at China's Nantong Mingde Heavy Industries.
JR takes Universal six Bremer Landesbank (BLB) is behind the restructuring of six feeder containerships whose management is being transferred from Universal Marine to rival Dutch shipmanager JR Shipping.
Andersen bags bargain AP Moller-Maersk group CEO Nils Andersen has exercised options for B shares worth $3.11m at a bargain price.
Spot spur for DIS d'Amico International Shipping recorded its best spot market performance in over five years as it finished 2014 strongly.
Golar strikes Rosneft deal Golar LNG has entered into an agreement with Rosneft, which could see the company's FLNG facilities used by the Russian energy giant.
Stuart named COO Norwegian Cruise Line (NCL) has given a senior executive role to one of its veterans.
Big cats still at Baltic Rumours linking US listed Navios to the purchase of two modern capesize bulkers from Baltic Trading are wide of the mark, TradeWinds is told.
Reliance takes over India's Reliance Infrastructure has agreed to buy a controlling management stake in domestic shipbuilder Pipavav Defence and Offshore Engineering.
Bourbon profit slips France's Bourbon has not been able to ride its increased revenue to improved earnings but it reduced its debt by 21% in 2014.
Arrest scuppers $416m deal China Rongsheng Heavy Industries has scrapped a convertible warrant sale worth up to $416.5m after the arrest of the investor due to buy the issue.
ICG on the rise Irish Continental Group (ICG) has seen all its operating segments grow to double its annual earnings.
Quantum selling cape Idan Ofer's Quantum Pacific appears set to sell another 1990s-built capesize bulker, this time for further trading.
TTIP 'can open Jones Act' A prominent European politician has urged the region's shipowners to get behind important trade talks with the US that could open up access to coastal trades currently blocked under the US Jones Act.
WSG adds new ferry Sovereign Ferries has acquired a new fast ferry to service a $300m contract in West Africa.
Thais eye new route Thailand's transport ministry is planning a new ferry route across the Gulf of Thailand.
Job done Restructuring specialist John Ray has left the board of US tanker owner OSG after the company completed its financial resurrection.
Diana channels Richard III The chief executive of Greek operator Diana Shipping continues to believe private equity is to blame for turbulence in the dry-bulk market.
Fleet growth to cap rates Epic Gas expects freight rates to remain relatively flat through 2015 due to the size of the newbuilding order book.
Epic Gas ends in the red Epic Gas has ended the year in the red posting a fourth quarter loss of $16.2m and a full-year loss of $23m.
Logindo defies downturn Logindo Samudramakmur has seen its full-year net profit increase over 21% compared to a year ago.
Noble offloads OBO Noble Chartering (Noble) appears to be moving forward with the disposal of an elderly combination carrier (OBO) that was at the centre of a recent legal battle in the US.
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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