Need for shipping to adopt can-do attitude in 2015 stressed
Safmarine honours UTi India for widest global coverage
'HAROPA an essential link in heavy lift logistics chain'
Accenture's Ports Center of Excellence launched to help terminal operators improve processes, management & operations
Mormugao Port lines up projects worth INR 3,141 cr.
Amendments in "Detailed Guidelines for Issue/Modification of Importer Exporter Code Number (IEC)" as notified vide Public Notice No. 76 dated the 27th of November, 2014 and Para 9.1 of Handbook of Procedure Vol. 1 (2009-14)
Economy seen gradually recovering in FY15
Govt reduces period of advance licensing in rubber import to 6 months
TOTE inks LNG pact Jones Act container line Totem Ocean Trailer Express (TOTE) has signed a long-term agreement with two LNG development companies. The pact, announced on 6 January with Pivotal LNG, a subsidiary of AGL Resources, and WesPac Midstream, will provide LNG for two new dual-fuelled 3,100teu, Marlin-class
Rocket damaged tanker leaves Libya with dead seafarers The damaged Greek tanker that came under air attack in Libya on Sunday afternoon was on its way back to Piraeus in Greece today with the bodies of the two seafarers who died in the attack. The 28,610 dwt Araevo left Libyan waters early this morning and is expected to arrive in Greece towards midday
Clipper, Genco team up for supramax operation Dry bulk carrier owners Clipper group and Genco Shipping & Trading are expanding their cooperation with the formation of a joint supramax pool. The new Clipper Sapphire Pool, managed by Copenhagen-based Clipper, will begin with 16 vessels, half of the fleet contributed by Genco and the other half
US intervenes in dockworker talks Federal mediators have agreed to pull dockworkers and container terminal operators back to the negotiating table in an effort to relieve mounting congestion and delays at US West Coast ports. West Coast dockers represented by the International Longshore and Warehouse Union (ILWU) have been working
Panama Canal unveils new toll scheme The board of the Panama Canal Authority (ACP) has approved a new transit toll structure that it hopes to implement in April 2016, after the new locks debut. "The ACP thoroughly analysed various alternatives and held conversations with the maritime industry for over a year," explained ACP
GAIL asked to prepare back-up plan on LNG shipments India's oil ministry, which controls national gas company GAIL India, has asked the natural gas firm to prepare a 'Plan B' to deal with delays on a tender to time charter nine LNG carriers for hauling LNG from the United States beginning September 2017. GAIL India on Tuesday said it was extending
Oil slump impacts Africa exporters Oil-rich African countries are among the most at risk from the fall in oil prices because of their degree of dependence on exports, according to the International Monetary Fund (IMF). Olivier Blanchard, chief economist at the IMF, said in a recent study: "The drop in oil price has contributed to an
Low oil price, strong VLCC rates open up prospects and raise a threat Continued slide of crude oil price, strength on the VLCC freight markets open up prospects of floating storage and rise in asset values for tanker owners, but raise the spectre of higher speeds adding to effective supply, shipping analysts say. "With the recent (and seemingly bottomless) declines
BW Offshore orders $67M of equipment from Dyna-Mac Oslo-listed floating production systems specialist BW Offshore has ordered SGD89M ($67M) worth of equipment from Singapore-based maker Dyna-Mac. Dyna-Mac said in a Singapore Exchange filing that it would construct 10 units of FPSO topsides modules and one unit of flare tower from BW Offshore,
Singapore watches accident oil slicks Singapore's authorities are continuing to monitor an oil slick caused by a collision between two ships last week. The Maritime Authority of Singapore (MPA) has been surveying the oil patches daily through aerial surveillance and linked up with International Tanker Owners Pollution Federation
News insight: Falling oil prices impact OSV market After several successive years of strong growth, owners and managers in the offshore supply vessel (OSV) segment are looking at 2015 with some trepidation. The recent oil price slide has focused thoughts on exploration and production costs, with some voicing concerns about the influence this will
Five carriers to adjust trans-Pacific service China Shipping Container Lines (CSCL) and United Arab Shipping Company (UASC) have announced to make amendments to their current "AAS2/AWS1" loop. There will be a new multi-carrier trans-Pacific loop involving five shipping lines with two further carriers to take slots. The new service will call at
Two die in Libyan attack on Greek tanker Greece has condemned an "unprovoked and cowardly" air attack on a Greek-operated oil tanker off the coast of Libya in which two crew members were killed and two wounded. Liberian-flagged Araevo, laden with 12,600 tonnes of crude oil, was targeted by an aircraft belonging to Libya's internationally recognised government on Sunday afternoon while anchored two miles off the port of Derna in eastern Libya, said the Greek foreign ministry.
Vallianz forms JV with Alam Maritim Singapore-listed offshore oilfield services provider Vallianz Holdings has entered into a joint venture with Alam Maritim Investment Holdings to establish Deepsea Leader Venture in Labuan, Malaysia. Deepsea will primarily engage in ship management and operation, ship owning, ship maintenance and
Vard's Seaonics seals contract worth $13.1M Vard Holdings, a Singapore-listed Norwegian designer and builder of offshore and specialised vessels, has secured a large equipment contract for a vessel that its parent, Italian shipbuilder Fincantieri, is building. The contract, worth over NOK100M ($13.1M), was signed by Vard's specialised
CMES returns to substantial profits in 2014 China Merchants Energy Shipping (CMES), a Chinese bulker and tanker operator, reiterated today that it had returned to substantial profits in 2014 from heavy losses in 2013 due to improvements in the shipping markets last year. The company had seized the market opportunities of fluctuating freight
New Year shipbreaking markets remain depressed The New Year did not mark any fanfare for shipbreakers in South Asia as prices remain depressed amid a continuing inflow of Chinese billets and a weak Indian rupee. In India, prices of bulkers plummeted to $400/lt ldt last week compared to $440/lt ldt in November 2014, while tanker prices fell from
Marco Polo Marine bags over $46M in OSV charters Singapore-listed integrated marine logistic company Marco Polo Marine has secured over $46M worth of contracts in offshore supply vessel (OSV) charter. "It is gratifying to note [that] our integrated strategy, with focus on regional waters as well as OSVs plying in relatively shallow waters, is
HHI trims order target Hyundai HI (HHI), the world's biggest shipbuilder, has decided on a lower order target this year, a sign that this year could be less vibrant for shipbuilding. In his New Year's message, HHI CEO Kwon Oh-Gap said the shipbuilder, which also owns Hyundai Mipo Dockyard and Hyundai Samho Heavy
Positive macro factors for Yangzijiang Singapore-listed Chinese shipbuilder Yangzijiang Shipbuilding should benefit from the strong US dollar and falling oil prices, said an analyst today. DMG & Partners Securities analyst Lee Yue Jer said in a report today, "The lower oil prices are a strong positive for global economic growth, which
ILWU urges employers to step up crane driver training to ease gridlock Local branch hits back at terminal operators and ocean carriers over who is to blame for skilled labour shortages
First Ship Lease back in covenant compliance Value-to-loan ratio again tops 125%
Baltic Sea aframax crude tankers looking forward to big freeze earnings spike Average aframax earnings up at around $41,000 per day, with prospect of more to come as winter freeze restricts vessel access to ports
Panama Canal reveals new toll structure Two-tier pricing system, new market segments and incentives proposed as ACP gears up for third-lock opening
XL, Catlin and Chubb wrote Hoegh Osaka hull risk Willis confirmed as broker for grounded car carrier
Oakland opens gates at weekend Port continues to introduce measures to alleviate extraordinary cargo build-up
This is a make or break year for boxshipping More carriers set to return to profitability in 2015, as long as they can maintain discipline
Yang Ming boxship stuck at Tacoma due to congestion after release from OW-linked arrest Voyage of YM Success to US port highlights prominent industry issues in a nutshell
Crude tanker values soar as earning power of the ships doubles Aframax values up 45% in a year and VLCC values climb 29% as fortunes improve in the tanker freight market
China's ship design institute develops new VLOC CSSC institute shows its new vessel design to China Merchants Group amid speculation over whether Beijing will officially end its war with Vale
PMA and ILWU agree to mediation on new contract After almost eight months of talks, the two sides have finally accepted outside help
China Merchants Energy Shipping returns to the black Chinese state carrier lifted by recovery in global tanker market and disposals of old ships
Cargo diversions, alleged slowdowns mute US West Coast volume growth Cargo diversion from U.S. West Coast ports due to congestion and alleged work slowdowns by the International Longshore and Warehouse Union took a toll last year. Total laden container volume handled in the first 11 months of the year was up only 1 percent from the same period in 2013, according...
Labor experts optimistic mediators will broker PMA-ILWU deal Don't expect any immediate negotiation breakthroughs when federal mediators wade into negotiations between the U.S. West Coast longshore union and waterfront employers, but a deal will likely be reached, according to two experts on labor negotiations. "This is a sign of the union saying, 'We want to be reasonable. We want...
Ireland gets stake in booming US beef market, lifting EU hopes Irish exporters are poised to jump into a booming U.S. beef market, even if their share is only a collop compared to that of countries such as Australia, New Zealand and Canada. Beef producers in the United Kingdom and other European nations are right behind them. The U.S. on Jan. 5...
Virginia delays NIT truck appointment system The Port of Virginia will delay the launch of a truck appointment system at Norfolk International Terminals until this spring. The port authority said the appointment system will be a priority project this year and is expected to be in full operation well before the summer-fall peak season for holiday imports. The...
Maersk revamps weekly India-East Africa service Maersk Line is reorganizing the port rotation of its Mawingu Express, a weekly direct service from India to East Africa, effective in early February. The changes include a new port call at Mundra, India, and suspension of an existing call at Victoria, the Seychelles. The revised port rotation is Jawaharlal Nehru Port...
Q&A: Federal mediation and the PMA-ILWU contract After months of appeals from industry groups, the Federal Mediation and Conciliation Service this week became involved in West Coast contract negotiations between the International Longshore and Warehouse Union and the Pacific Maritime Association. Here's a guide to the FMCS and its role in collective bargaining. What is the Federal Mediation...
ArcBest's ABF Logistics acquires truckload brokerage Smart Lines ArcBest expanded its non-asset truckload brokerage business through the acquisition of Smart Lines Transportation Group by its ABF Logistics subsidiary. The acquisition is part of the transportation holding group's strategy to develop its "emerging" non-asset businesses and extend its portfolio from less-than-truckload freight to all links of the supply chain. ArcBest,...
Panama Canal proposes new tolls, carrier loyalty program The Panama Canal Authority released proposals for a new toll structure that it has been reviewing with various industry segments for the last year. The proposed structure will increase tolls on container ships, which were excluded from the last two rounds of toll increases in 2012 and 2014. The canal authority...
Genesee & Wyoming completes purchase of US shortline railroads International rail operator Genesee & Wyoming acquired several short line railroads in Arkansas for about $40 million, bolstering regional operations in the central U.S. The acquisition of the Arkansas Division of Pinsly Railroad Co. gives G&W an additional 137 miles of owned and leased track, 70 employees and 16 locomotives serving...
US Customs chief puts trade, cargo clearance on front burner Gil KerlikowskeSince taking the reins of U.S. Customs and Border Protection in March, Commissioner Gil Kerlikowske has met with shippers, brokers and others to better understand trade facilitation and what the agency can do to help. Associate Managing Editor Mark Szakonyi met with the former U.S. drug czar in early...
Manaus, Brazil terminal aims to expand container capacity by two-thirds The Chibatao container terminal in Manaus, Brazil, plans to spend 113 million-reais ($41.9 million) to boost its annual container capacity by two-thirds to 500,000 TEUs. The expansion project is part of the deal Chibatao Navegacao e Comercio Ltda struck with the Brazilian government to gain Terminal of Private Use (Terminal de...
Foreign trade keeps China ports on a 2014 high HONG KONG - China's top seven ports handled 118.4 million 20-foot container in 2014, up almost 6 percent on the previous year as foreign trade kept throughput growth in solid positive territory for every month during the year. In December, foreign trade was up almost 6 percent year-over-year, with 7.8 million...
DOT rule-makings to roll on, but slowly, in 2015, report shows Federal regulators are preparing a host of final and proposed trucking regulations for release and comment this year, but many rules have been delayed and may be delayed again. Among the final rules slated to be published this year by the Department of Transportation are regulations prohibiting the coercion of truck...
Outdated Hong Kong port will have to move, latest study advises HONG KONG - Hong Kong's container terminals must be some of the most examined pieces of real estate in Asia, yet despite the government sponsored studies, industry reports and consultancy papers, the port's future is no clearer than it was 11 years ago when the first master plan was published. The...
ILWU joins PMA in requesting federal mediation The Federal Mediation and Conciliation Service announced late Monday that in response to a joint request from the International Longshore and Warehouse Union and the Pacific Maritime Association, contract negotiations between the two parties will proceed under the auspices of the FMCS "as soon as possible." The FMCS announcement is a...
Strong growth for Asian terminal operators in 2015, HSBC predicts HONG KONG - Asia's container terminal operators will be the big winners in 2015, according to the latest HSBC transport indicators report that has International Container Terminal Services Inc. (ICTSI) as one of its top picks. The Manila-based terminal operator has been aggressively expanding its international operations, especially in the Americas,...
Chassis maintenance and repair a main culprit of ILWU-PMA impasse Contract negotiations resumed today between the International Longshore and Warehouse Union and the Pacific Maritime Association after the holiday recess, but it appears that no significant progress will be made until both parties agree to compromise on the controversial issue of chassis maintenance and repair. When negotiations hit an impasse in...
Insurers sound alarm The recent loss of a handymax bulker owned by Gearbulk appears to be stoking renewed concerns about the carriage of bauxite and other cargoes that are prone to liquefaction.
VLCCs watch rates ease Day rates for VLCCs trading in the spot market have fallen from the highs seen prior to the holiday recess but forecasters don't appear to be fazed by the development.
Tote firms up LNG supply Tote Inc has forged a long-term supply agreement to fuel its two LNG-powered newbuilding containerships.
GHS back in the game Global Hunter Securities (GHS), a boutique US investment bank, has reactivated research coverage of several New York and Nasdaq-quoted shipping stocks.
Frontline leads tanker charge Frontline was at the head of a tanker bull run on Wall Street today amid the hope floating storage will further boost VLCC rates.
Double for La Naval Spain's La Naval shipyard has won a deal to build two dredgers for Dutch owner Van Oord.
Keppel wins AHTS contract Keppel Singmarine has secured its first deals for 2015, including the construction of an anchor handler for compatriot Seaways International.
Greek exposure low New figures show German banks have low exposure to Greek debt, but French banks have more to lose from any default.
Genco and Clipper form pool Peter Georgiopoulos's Genco Shipping & Trading has teamed up with Clipper to form a new supramax pool.
Crewman injured A Polish seafarer has been taken to hospital in Vietnam with "serious wounds" suffered on a German cargoship.
Design criticised UK crew union Nautilus International has raised concerns about car carriers' safety after the deliberate grounding of the Hoegh Osaka near the port of Southampton.
M&A awaits in offshore Mergers and acquisitions could be on the cards in the offshore support vessel space this year as a depressed oil price impacts the market, a leading shipbroker says.
FSL fixes loan headache FSL Trust has regained compliance with its loan covenants in what management believes is clear evidence that it is returning to financial health.
Vroon adds RWE ship Vroon's MPI Offshore has snapped up a modern wind-turbine installation ship from RWE Innogy.
SSC funds PCTC Singapore Shipping Corp (SSC) has landed a $16.5m loan that will help fund almost a quarter of the cost of a car carrier newbuilding.
Monjasa to grow Danish bunker and tanker company Monjasa is planning further expansion in South America, starting with a new base in Panama City.
Storage spur for tankers? A depressed oil price has delivered another potential shot in the arm for crude tanker owners with conditions ripening for the return of floating storage, a leading analyst believes.
Lines to turn black Lower bunker costs are expected to offset a big expansion of the global containership fleet and result in profitability for 2015, shipping consultancy Drewry says.
Orders drop by half Ship orders dropped steeply in 2014 as owners stepped away from their cheque books after a busy 2013.
Record fails to play Record Brazilian iron ore export figures at a time of heavily depressed capesize rates have added to the gloom surrounding the sector.
Angola move for CMA CGM France's CMA CGM is developing a new terminal at Lobito in Angola.
Arctic traffic drops Shipping traffic in the arctic region fell in 2014, a year that saw many experts and analysts project that more vessels would start using the Northern Sea Route (NSR).
Skandi Hawk drops down Dof is selling a construction support vessel to division Dof Subsea after the latter secured a contract for the ship.
CMES expects profit China Merchants Energy Shipping (CMES) will post a profit for 2014, it said.
New cruise for China China has approved a plan to run a new cruiseship from the port of Beibuwan this spring.
Panama Canal agrees fees The Panama Canal Authority (ACP) has proposed a new fee structure after more than a year of consultation with the shipping industry.
Feeding time for TTA Bangkok-based shipowner Thoresen Thai Agencies has satisfied its appetite for diversification by buying a 9% stake in Chinese canned food and drinks manufacturer Sino Grandness Food Industry Group.
Dredger set free Malaysian dredger operator Inai Kiara's 3,400-gt trailing split-hopper suction dredger Inai Lavender (built 1984) has been released from a week-long spell of arrest in Singapore.
Kalakala loses battle The decade-long fight to preserve the historic art-deco ferry Kalakala has ended as its current owner prepares the ship for one final voyage to the breakers.
Costamare pays out New York-listed boxship player Costamare has announced it will pay its shareholders a cash dividend on 15 January.
Many ships 'may not comply' with new ECA rules in Europe 'Most countries here will fine you just a few thousand dollars if you get caught.'
Poor weather forces closure of Mexican oil export ports It is unclear when the ports will reopen.
ClassNK releases new version of guidelines for gas-fuelled ships Guidelines can be viewed for free.
Singapore vessel collision update: Oil leak contained 'There have been no further reports of oil leakage from the Alyarmouk.'
TOTE secures long-term LNG bunker supply 'We've effectively established LNG as the fuel of the future for marine vessels in the United States,' says energy provider.
IBIA announces board elections Four candidates to fill three seats on IBIA board.
Contango economics make floating storage very likely, says analyst Contango spread has passed breakeven point for storage.
Monjasa opens office in Panama Growing demand requires regional presence, company says.
Altor under fresh fire for making money on OW Equity fund cashed in over DKK 1 billion prior to IPO.
Crude could be close to $40 a barrel by the end of the week Singapore bunker prices take another tumble.
Aegean shares remain a hot ticket Investor says marine fuel company a good bet.
K Line boosts prospects for Hambantota Car carrier to use Sri Lankan port as distribution hub.
Pakistan bunker player expands fleet Company in move to boost 180 cSt, MGO bunker supplies.
WFS adds board member To oversee technology and operations.
Shipowner contemplates 'biggest' boxship MOL says bigger ships will keep lid on costs.
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