India cuts duties to help local fleet take on competition India is preparing its fledgling container fleet owners for competition from foreign carriers after the impending relaxation of cabotage laws. It will do so by removing customs and excise duty on bunker fuels used in Indian-flagged ships for the transport of export-import (EXIM), empty, and
Containerisation consolidation poses industry risk Continuing consolidation in the containerisation sector risks exposing the industry to the kind of extinction dinosaurs once faced, according to South Korea's oceans minister Yoo Ki-june. Yoo told the Danish Maritime Forum in Copenhagen on Wednesday that shipping is at "a critical juncture". He
Bergen Group Services signs agreement with Volvo Penta Bergen Group Services, part of the listed Norwegian maritime services company Bergen Group, says it has signed a frame agreement with Volvo Penta and in co-operation with Volvo Penta Center Bjordal & Madsen in Bergen. The frame agreement comprises sale and service of the whole product range to the
Expanded Panama Canal to open 'by April 2016' Panama Canal administrator Jorge Quijano has assured shipping leaders the expanded canal should be open for business by April next year. "It hasn't been easy" he told the Danish Maritime Forum in Copenhagen today, referring to disputes with the project's contractors and engineering faults that led
Port of Rauma starts expansion of container terminal The Port of Rauma has started an expansion of its container terminal by preparing the location for aggregates that will be dredged from the site, the port said in a statement. This first phase is estimated to cost EUR1.3 million (about USD1.5 million), while the expansion of the terminal itself
Soyuz Bunkering to shut Singapore operations Russian marine fuel trader Soyuz Bunkering is to shut its Singapore operations after just 19 months in business. Soyuz, part of Russian private investment company Summa Group, is headquartered in Rotterdam. It's CEO, Peter Grunwaldt, sits in Dubai. Company officials told IHS Maritime that its
MISC eyes secondhand tanker purchases Malaysian carrier MISC, rejuvenated by improving tanker freight rates, could purchase secondhand oil tankers if these are backed by charter contracts. The company's new chief executive officer, Yee Yang Chien, made this revelation at a recent briefing for analysts. CIMB Securities analyst Raymond
Asia Development Bank lauds Colombo port improvements Infrastructure improvements at Colombo Port in Sri Lanka will offer "huge advantages" over competitors in the battle for transhipment business in south Asia, according to the Asian Development Bank (ADB). Physical improvements combined with strategic marketing will give lines an incentive to set up
Court blasts EPA ballast water rules A three-judge panel overturned rules governing the United States's ballast water regime in a significant decision affecting vessel operators trading in US waters. In a 5 October decision, the US Court of Appeals for the Second Circuit found that the US Environmental Protection Agency (EPA) "acted
MOL and NYK Line secure loan for four new LNG carriers Mitsui OSK Lines (MOL) and NYK Line have received about JPY126.7billion (USD1 billion) to finance four Moss-type LNG carriers currently being built by MI LNG and Kawasaki Heavy Industries (KHI). The Japan Bank of International Cooperation (JBIC), the country's export credit agency, will provide
Intermarine agrees more newbuildings US project carrier Intermarine said yesterday that it has reached agreement with Chinese financing partners about the addition of six multipurpose/heavy lift newbuildings to its operated fleet over the coming years. The 13,300 dwt Ecolift F900-type ships, which will be equipped with cranes for safe
Safety to the fore at Singapore forum The 8th Co-operation Forum opened in Singapore on 5 October to discuss challenges faced by the maritime industry including cyber security and the trend towards a sustainable global maritime transport system. The second day of the two-day forum saw the launch of a hydrographical survey of the straits of Malacca and Singapore previously reported by IHS Maritime.
Thailand Thoresen Agencies diversifies into property Thailand Thoresen Agencies (TTA), the parent company of Thoresen Shipping, has purchased a stake in Nusasiri (Nusa), a Thai property and real estate company, TTA said in a 5 October stock exchange filing. TTA bills itself as a holding company investing in three lines of business: transport, energy
Malaysia detains two tankers over illegal ship fuel transfer The Malaysian Maritime Enforcement Agency (MMEA) officials on 5 October detained two tankers for alleged illegal ship fuel transfer near Pengerang, south of Malaysia. MMEA officials reportedly detained Equatorial Guinea-registered Mt Vitology on 5 October for allegedly attempting to transfer 80,000
CCS new rule backs seawater lubricated propellers China Classification Society's (CCS) new monitoring rules favour seawater lubricated propellers over oil-based systems, according to the Canada-based Thordon Bearings. The class society's revised rules in July 2015 stated that specific shaft condition and monitoring protocols have to be met
Marshall Islands dubs Sekimizu 'danger to planet' for views on CO2 regulation Government of island nation blasts Secretary General for his position that IMO should take leading role on shipping regulation covering carbon emissions
Owners and private equity divided on exit strategy Misaligned interests could hold back finance, conference warned
Oversupply haunts panamax market Downward spiral continues toward lows reached in June this year
Tankers watching as ISIS crisis heightens Balance of power to be reshaped in Middle East as Russia fights ISIS, with tankers assessing impact
Bankers prefer stronger shipowners Existing clients with strong fundamentals get priority, finance conference told
Carriers and shippers lose confidence in global alliances The big four vessel-sharing agreements not delivering the hoped-for benefits, say critics from both sides
ICTSI's Colombian terminal gears up for opening Four STS cranes and five RTGs delivered to new Buenaventura box facility
Leaking Flinterstar has 550 tonnes of fuel on board Crew rescued without injury after collision with LNG carrier
Intermarine adds six Ecolift F900 vessels to its fleet Company will partner China's CSSC Leasing to provide long-term charters for the ships
Industry viewpoint: changes to the high risk area may be a high risk strategy Moves to review the high risk area in the Indian Ocean could lead to a return to hijackings and hostage taking
Hyundai Merchant Marine spins off dry bulk and terminals Businesses will be parked under new entity Hyundai Bulk Line
Piraeus port privatisation plans to be delayed September 20 election affected government ministries handling the process
US and six Asian nations carry out combined naval exercise Training launched in Singapore aims to combat the growing number of piracy incidents in the region
Laugfs Maritime Services acquires second LPG ship The company recently announced plans to build the largest LPG storage facility in the Hambantota Port area
Epic Gas closes $120m credit line to finance seven LPG carriers The facility covers about 65% of the contract price of seven LPG carriers under construction
Coast Guard to call off El Faro survivor search The U.S. Coast Guard said its search for survivors among the 33 persons aboard the cargo ship El Faro would be halted at 7 p.m. EDT Wednesday, more than six days after the TOTE Maritime cargo ship sank off the Bahamas during Hurricane Joaquin. "A decision to suspend a search or...
FedEx CEO: Some West Coast diversions will stick FedEx founder, CEO and Chairman Fred Smith speaks at the JOC Inland Distribution Conference in Memphis.MEMPHIS - FedEx founder, CEO and Chairman Fred Smith expects some of the cargo diverted from congested West Coast ports to remain moving through other entry points as shippers diversify their supply chains. "I think at...
Hyundai to spin off bulk, US container terminal units Hyundai Merchant Marine said it will spin off its dry bulk division and its two U.S. West Coast container terminals as the Korean company seeks to bolster liquidity at its core container shipping business. The company will put the spun-off companies in Hyundai Bulk Line, a new corporate entity formed two...
Panama Canal chief says expanded locks will open in April despite leaks Panama Canal Administrator Jorge Quijano has assured shipping leaders that the canal's new, larger locks should open on schedule by April, despite concerns that the opening would be delayed by leaks in one of the locks' concrete sills. The new locks will allow the canal to handle ships with capacities of...
Coast Guard expected to call off El Faro survivor search Families of the 33 crew members of the cargo ship El Faro said they had been advised that the Coast Guard would suspend its search for survivors of the sunken ship today, six days after the vessel went down off the Bahamas during Hurricane Joaquin. The Coast Guard, NTSB and TOTE...
Trailer Bridge barge parted from tug during hurricane A Trailer Bridge triple-deck barge broke loose from the tug that was towing it from San Juan to Jacksonville, Florida, last weekend during the same hurricane that claimed TOTE Maritime's El Faro. The San Juan-Jax Bridge parted from the tug during rough seas Sunday, Trailer Bridge said. Two tugs reached the...
Three former NYK, 'K' Line execs charged in ro-ro price-fixing case Three former "K" Line and NYK executives have been indicted for alleged participation in a scheme to rig bids and fix prices for international shipments of roll-on, roll-off shipments to and from the United States. Yoshiyuki Aoki, formerly of NYK, and Masahiro Kato and Shunichi Kusunose, formerly of "K" Line, were...
Roadrunner expands Canada service offerings Roadrunner Transportation Systems is expanding in Canada after having recently made a number of moves to increase its service in Mexico. The 14th-largest less-than-truckload carrier in the U.S. has announced outbound service from Toronto and the appointment of John Geertsema as general manager for Canada. Geertsema has worked in the cross-border...
Piraeus port privatization delayed LONDON - The privatization of the port of Piraeus has been delayed as Greece's snap general election Sept. 20 interrupted preparations by government transport and finance officials. The Greek government had set a deadline of October 30 for binding bids for a 51 percent stake in Greece's largest container port, but...
Trade slump, port congestion slows India container volume growth The volume handled at India's major public ports grew a meager 2 percent in the first fiscal half amid sluggish global trade demand and growing service bottlenecks at some of the country's main container gateways, particularly Jawaharlal Nehru Port Trust. Container terminals at the 12 major ports handled 4.09 million 20-foot-equivalent...
No slowdown in demand for China logistics space Goodman Fengxian International Shanghai logistics centre.HONG KONG - China's economic slowdown is not putting the brakes on foreign logistics property developers that have in the past month signed new leases for more than 4 million square feet in cities across the mainland.Led by China market leader GLP, the demand for...
BNSF's Kansas City logistics park to benefit from new construction A developer is adding more than half a million square feet of speculative industrial space at BNSF Railway's Logistics Park Kansas City. NorthPoint Development's so-called Inland Port XV will add another 548,333 square feet of space to the facility. The news follows hot on the heels of NorthPoint's announcement this May...
El Faro rescue ends The US Coast Guard has suspended the search for survivors from the sinking of a TOTE Maritime ro-ro, chief executive Anthony Chiarello said Wednesday.
Boxship lay-ups surge The number of idle boxships has reached its highest level since March 2014 as lay-ups soared last month.
Livestock ship capsizes A livestock carrier has capsized in Brazil, stranding thousands of cattle.
Dof veteran offloaded Norway's Dof has sold its last 1980s-built platform supply ship (PSV).
Everest Hill buys quartet
"Fireball" on ro-pax A UK report has criticised liaison between crew and firefighters as they tackled a blaze on a DFDS ferry.
Germans buy veteran Germany's Jade-Dienst has reportedly bought a veteran cable-layer for around $1.5m.
Cyclical as usual Forecasts from the International Monetary Fund (IMF) of a decline in global economic growth have not caused major concern to shipping bankers.
"No water" Audio files have revealed the problems encountered by an increasingly worried crew as they tried to tackle the deadly fire on the Norman Atlantic.
Bergen signs engine deal Bergen Group Services (BGS) of Norway has clinched a sales and service contract for Volvo Penta engines.
Cash for right projects Clarksons Platou Securities has offered hope for shipowners seeking to secure a public listing at a tricky time for global stock markets.
Nowacki seeks talks US investor wants to meet Box Ships bosses to boost share value after taking stake to 22.2%.
Damen expands again Dutch shipyard group Damen has snapped up Rotterdam shiprepairer D van de Wetering to its portfolio.
DSME offloads Besteel stock Loss-making Korean shipbuilder DSME has raised much-needed cash with the sale of its stake in steel supplier Fine Besteel.
"Highest drop in history" The head of the International Energy Agency (IEA) is predicting a big fall in investment in oil and gas projects this year.
Flinter makes salvage plans The owner of the ship that collided with an LNG carrier off Belgium on Tuesday is already making plans to salvage the general cargo vessel.
Survey boost for SOMS Indonesia, Malaysia and Singapore have launched a joint project that will survey five key areas of the Straits of Malacca and Singapore (SOMS).
Weather choice 'one factor' National Transportation Safety Board (NTSB) vice chairman Bella Dinh-Zarr says the master's choice to head toward what would become Hurricane Joaquin will be just one factor among many in a probe of sinking of El Faro.
USN joins piracy battle The US and six other nations have kicked off a five-day naval exercise aimed at combating piracy in Southeast Asian waters.
US feds indict three more Three more Japanese shipping executives have been indicted in the US for participating in a long-running price-fixing conspiracy.
Feds indict three more Seven Japanese executives have now been charged over ro-ro trade price fixing.
Supplier expands UAE operations Khor Fakkan operations will mean we can target higher volumes," says GPS Bunkers.
Intermarine makes 'eco' order Ships will complement last year new building deal.
Shipping must unite against 'ill-considered' legislation Chairman of the Danish Shipowners' Association (DSA) says there must be better dialogue with the IMO.
Over 500 mt of fuel onboard stricken ship Oil slicks spotted.
India extends bunker tax exemption Government wants to promote maritime transport.
UK MGO supplier ups supply capacity To meet increased bunkering demand ahead of the winter season.
Adani and Chemoil part company New Indian bunkering firm to be called Adani Bunkering.
Chemoil dumps stake in Indian bunkering JV 'Going forward, Chemoil will no longer be associated with the business,' says former JV partner.
Norwegian Oil Trading relocates Singapore office New address took effect last week.
New player in Hong Kong physical bunker supply market United Asia Bunkering & Trading starts 'full operations' in October, it tells Platts Bunkerworld.
Aegean adds pair of bunker traders in Piraeus Welcomes Sotiris Delidimitriou and Stathis Pavlikakis to its team.
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