UK port security tightened up in wake of Paris shootings The UK has tightened its port security following the shootings in Paris that killed 12 people yesterday, the BBC reported today. As a precautionary measure there will be additional security checks at UK ports and stronger security presence at Calais as a result of the United Kingdom's increased
Felixstowe handles world's largest container ship China Shipping Container Lines' 19,100teu box ship CSCL Globe made its European maiden call at the UK's Port of Felixstowe during a 70-day voyage that began in China's Tianjin Port. Built at Hyundai Heavy Industries in South Korea and classed by DNV GL, the 400m-long CSCL Globe is the first of five
Sunken Cemfjord may be left as 'sea grave' Strong currents and dangerous seas mean that it might be too dangerous to recover cement-carrier Cemfjord and the bodies of eight seafarers believed to be trapped inside. The Cyprus-registered vessel turned over in bad weather in the Pentland Firth, off the north coast of Scotland, at the weekend.
Wärtsilä adds X62 engine to its low-speed, two-stroke range Wärtsilä has announced that its latest low-speed, two-stroke engine, the X62, has passed its design validation and type approval testing. The tests were carried out in October 2014 at Hyundai's Ulsan engine works, followed by successful sea trials in November, with the Aframax tanker Nissos
Viking Line sets own record Finnish ferry company Viking Line last year carried more passengers than ever. The Åland-based company's vessels carried more than 6.6M passengers, which is an increase of 76,500 on the previous year. This achievement was highlighted last December by the company's 200-millionth passenger since the
Rail's share at La Spezia rises to 35% The Italian port of La Spezia has announced a 10% growth in cargo moved by rail in 2014, raising the proportion of traffic by rail, mostly in containers, to 35%. This strong growth translates into nearly 7,000 rail box convoys leaving or entering the port gates last year. "[This growth]
Knightsbridge Shipping fixes 15 Capes with RWE Knightsbridge Shipping, a listed dry bulk carrier owner in John Fredriksen's business empire, said it has entered an agreement with RWE Supply & Trading on the charter of 15 Capesize vessels on long-term contracts. "The basis of the transaction is to employ the vessels on index-linked contracts.
S Korean shipbuilders pessimistic about 2015 Instead of aggressive order-taking, South Korean shipbuilders may only strive to maintain current order backlogs in 2015, said an analyst in a research note. Youngsoo Han of Samsung Securities said, "After reviewing New Year messages from CEOs of Korea's big three shipbuilders - Hyundai Heavy
Wärtsilä wins major China engine order The Finnish power solutions provider Wärtsilä has won its biggest-ever order to supply engines for a stationary cutter suction dredger being built at a Chinese yard for a Chinese contractor. "With a total installed power of 24,000kW - driving two dredge pumps plus generators - and 5,200kW of cutter power,
China's iron ore inventories hit 11-month low Iron ore inventories at major ports in China stood at 100.6M tonnes as of 2 January, recording the lowest number since 24 February 2014, showed data from SteelHome, a Shanghai-based steel information provider. Inventories were down by 12% from the highest 113.7M tonnes inventories in last July,
P&I clubs warn of bauxite liquefaction risk Protection and indemnity clubs have issued warnings of the liquefaction risks of bauxite cargoes, following the sinking of Gearbulk's Supramax bulker Bulk Jupiter on New Year's Day. The ship was carrying over 46,000 tonnes of bauxite from Kuantan, Malaysia, when it sank off Vung Tau, Vietnam,
China helps search for QZ8501 black boxes A Chinese rescue vessel left a military port in Sanya, in southern China's Hainan Province, Monday night to search for the black boxes at the suspected crash site of AirAsia flight QZ8501. As requested by Indonesia, the naval ship Yongxingdao, with 48 divers and underwater search-and-detect
EMAS Offshore posts net profit of $148M Singapore-listed offshore oilfield services provider EMAS Offshore today reported net profit of $148.4M for its first financial quarter that ended 30 November 2014, from earnings of $13M in 1QFY14. The higher net profit achieved was due to the $137.5M bargain purchase gain arising from the
Container shipping overcapacity continues Shipping business had a gloomy 2014 and the bearishness is expected to persist this year, said OCBC Investment Research. OCBC Investment Research analyst Eugene Chua commented in a report, "The shipping industry is also positively correlated to global economic growth. Although IMF [International
HHI labour union rejects wage agreement The labour union of the world's largest shipbuilder, Hyundai HI (HHI), has rejected a tentative resolution on the wage and collective bargaining agreement for 2014. Through an official announcement on its website, the labour union stated that 66.47% or 10,390 members voted against the agreement. On
Triyards starts 2015 with two liftboats orders Singapore-listed fabricator and engineering solutions provider Triyards Holdings (Triyards) began the year with two new liftboats orders worth $75.4M. The vessels belong to the next-generation state-of-the-art four-legged liftboats, which can accommodate 150 persons each and can be utilised for
Nanjing Tanker terminates VLCC charterparty Nanjing Tanker, a Chinese tanker operator currently undergoing restructuring, has terminated two charterparties over two VLCCs with Sinokor Merchant Marine, incurring losses of $4M for 2014. The two VLCCs were identified as 2009-built Beijing Sunrise and 2011-built Dalian Glory, a regulatory filing
StealthGas races to buy back 'cheap' shares Vafias eyes requesting more funds for repurchase programme
Owners saving $9,000 per day on bunker fuel on spot voyages Big savings come as 2015 looks rosy for crude tankers but might present challenges for product tankers as new vessels hit the water
Ashdown to take IACS top job Former CoS and CLIA man takes over in May
Ocean Rig expands deal with Eni off West Africa One-year extension and agreement for second drillship extends contract backlog by $187m
Navios Acquisition fixes VLCCs at enhanced rates Angeliki Frangou says tanker arm aims to increase charter periods in stronger market
Hoegh Osaka may avoid general average Cargo interests hoping for absorption clause to kick in
Thome appoints DNV GL's Nortun as chief executive Owner Olav Eek THorstensen to focus on chairman role
HHI to restart labour talks after workers vote down wage deal South Korea shipbuilder is forced to return again to the negotiation table
Eimskip swoops on reefer forwarder Shortsea operator says the acquisition is part of its external expansion
Maersk product tanker fixture helps industry make strong start to 2015 Shifting global refining capacity changing the face of the product tanker industry in 2015
Cosco Shipping plans to raise $400m via new offering State shipping conglomerate pushes ahead with fleet expansion
Lower Australian dollar boosts coal exports Analysts see the increase as relatively short-term, with coal shipments from Queensland continuing with limited growth or plateauing during 2015
Knightsbridge inks energy charters Some 15 capesize vessels to be chartered to European energy business
Virginia handled record 2.4 million TEUs in 2014 The Port of Virginia handled a record 2.39 million twenty-foot-units of containers in 2014 while returning to profitable operation and working to bring congestion and delays under control. Container volume increased 7.6 percent from 2013. The port closed the year with a strong December, handline 203,276 TEUs, a jump of 12.3...
US intermodal volume dips but key performance metric improves U.S. intermodal volume last week slipped 0.7 percent year-over-year but a key metric of rail performance improved, suggesting that the major railroads continue to make headway in improving overall service. Average U.S. intermodal train speeds in the week ending Jan. 2 were 0.7 miles per hour faster than in the prior...
'Internet of Things' to connect trucking, global transport This is the year the "Internet of Things" - the growing network of products, from home thermostats to industrial machinery, that connect to the Internet - moves from the back room to the show floor. There are 900 "Internet of Things" exhibitors at the Consumer Electronics Show this week in Las...
US Congress keeps distance from ILWU-PMA labor talks WASHINGTON - Rep. Janice Hahn, the California Democrat who co-founded and co-chairs the Congressional PORTS Caucus, this week told her colleagues that the International Longshore and Warehouse Union and West Coast waterfront employers reaching a labor contract was essential to the U.S. economy. For shippers and transportation providers frustrated with long delays...
US truck spot market pricing settles, remains 'strong' Spot market truckload rates are slowly backing off their fourth major peak of 2014, but that has more to do with lower fuel prices than lower post-holiday freight demand. The national average spot market dry van rate reported by DAT dropped from $2.10 per mile for the week that ended Dec....
Arsenault named Hyundai Merchant Marine's Americas CEO David J. Arsenault has been promoted to president and CEO of Hyundai Merchant Marine America and Hyundai America Shipping Agency, responsible for North, Central and South America. Arsenault joined Hyundai Merchant Marine in 2004 and previously was responsible for sales. He has 28 years of industry experience. He was country manager for five years...
Court affirms ousting of NY-NJ port hiring agent A New Jersey appellate court has upheld the Waterfront Commission of New York Harbor's right to revoke the license of a port hiring agent for associating with organized-crime members. The decision by Superior Court of New Jersey's appellate division followed a New York state appeals court ruling last year that upheld the...
Asia-Europe carriers face struggle as capacity grows, economies slow Asia-Europe is sure to be the most exciting liner route in 2015 as it faces an influx of the world's largest container vessels, head-to-head battles between new and expanding carrier alliances, volatile freight rates and an accelerating shift from long-term contracts to spot market deals. Against this bearish outlook, most carriers...
China Cosco sends 17 more ships to the scrap yard HONG KONG - China Cosco Holdings continued its aggressive scrapping programme, disposing 17 vessels in the last quarter of 2014 for $50 million. Four container vessels and 13 bulk carriers with an aggregate capacity of 919,853 deadweight tons were sold to scrapyards as the mainland's largest shipping company continues to take...
CSCL Globe makes maiden Europe call The 19,100 TEU CSCL Globe enters the Port of Felixstowe for the first time.HONG KONG - The world's largest container ship, the 19,100 TEU CSCL Globe, sailed into the British gateway Port of Felixstowe this week to make its maiden European call in a loop that will include Rotterdam, Hamburg...
Forwarders gear up for Chinese New Year cargo surge HONG KONG - Asia forwarders are preparing for a busy first quarter with a six-week sweet spot between the western year end and a late Chinese New Year expected to drive up cargo volumes being shipped out before the mainland's most important holiday. Chinese New Year falls on Feb. 19, which...
Asia-Pacific airlines posting record freight growth Andrew Herdman, director general of the Association of Asia Pacific Airlines.HONG KONG - International air freight demand accelerated late last year, driven by strong growth in shipments of electronic goods going into the year-end festive season, the Association of Asia Pacific Airlines (AAPA) said today. In freight tonne kilometre (FTK) terms,...
LA-LB still aiming for gray chassis pool launch next month Port of Los Angeles Executive Director Gene Seroka said the Southern California ports continue to work toward a Feb. 1 roll-out date for a neutral, or gray chassis concept at the busiest U.S. port complex, despite the protracted contract negotiations between the longshore union and waterfront employers. It surfaced earlier this...
SBLK tackles gap Greek bulker operator Star Bulk Carriers is gearing up for a campaign aimed at raising cash to plug the funding gap tied to its newbuilding programme.
Attention turns to RWE RWE Supply & Trading made waves this week when it emerged as the charterer of 15 capes from Knightsbridge Shipping in a deal that caught many forecasters off guard.
BRS behind cape coup Barry Rogliano Salles (BRS) has emerged as the architect of a transaction that saw Knightsbridge Shipping charter more than a dozen capesize bulkers to RWE Supply & Trading.
OW mounts offensive A panamax containership controlled by Cosco Container Lines (Cosco) of China has landed at the centre of a legal battle between OW Bunker and a former customer.
Navios VL sets new high Navios Maritime Acquisition has secured period employment for two VLCCs, including a new arrival at a multi-year high.
HRG buying back Norwegian ferry group Hurtigruten is to spend NOK 500m ($46m) on redeeming a bond loan.
Poseidon stretches deal Ocean Rig has seen its long-term contract for one of its drillships with energy major Eni extended for an additional year.
StealthGas nets $7m Nasdaq-quoted LPG carrier owner in the money following sale-and-leaseback.
Cruiseship worker jailed A cruiseship room attendant who assaulted a passenger and attempted to kill her in February 2014 has been jailed for 30 years and five months.
Brokers eye resale openings Shipbrokers are scouring Scorpio Bulkers' newbuilding catalogue for resale opportunities.
Berg joins BW LPG BW LPG has recruited former Eitzen man Pontus Berg to replace a departing executive.
Drugs found on cargoship Guyana authorities have seized 192kg of cocaine hidden on an Intership Navigation vessel.
Charter joy sparks Golden Ocean John Fredriksen's Golden Ocean was on the march in Oslo this morning after a major capesize charter success.
Stena RoRo cleans up Sweden's Stena RoRo is fitting US-designed exhaust scrubbers to one of its ships to meet new European fuel regulations.
Thome appoints Nortun A classification expert will join Singapore-based Thome Group as its new chief executive officer.
KDB builds stake Korea Development Bank (KDB) has reinforced its position as the biggest shareholder of shipowner Pan Ocean ahead of its sale.
Cosco offloads 17 China Cosco Holdings has taken its fleet renewal scheme one step further with the disposal of 17 vessels.
CSDC plots $560m buyback China Shipping Development Co (CSDC) is planning to buy back outstanding convertible bonds worth CNY 3.47bn ($558.38m) after its share price rose.
Gadkari approves ports India's shipping minister Nitin Gadkari has okayed funding for two new port projects.
New fire on ro-pax Firefighters have tackled a new fire on the Norman Atlantic at the port of Brindisi.
Crew airlifted from grounded cargoship Turkish rescuers have airlifted 10 crew from a cargoship that took on water after grounding in a storm off the port of Samsun.
Triyards gets a lift Singapore-listed shipbuilding group Triyards Holdings has gotten off to a good start in its first financial quarter with orders for two new liftboats and a net profit of $8.22m.
ISC declares dividend New York-listed International Shipholding Corporation (ISC) has declared a dividend of $2.375 per share on its Series A Cumulative Redeemable Perpetual Preferred Stock and a dividend of $2.25 per share on its Series B Cumulative Redeemable Perpetual Preferred Stock.
EMAS shows results Singapore-listed EMAS Offshore has reported a $148.4m net profit for its first quarter 2015 results.
Baltic Trading lands loan US bulker owner Baltic Trading has lined up a credit facility that will be used to refinance debt and fund a pair of newbuildings.
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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