Heavy ice delays Seaway opening Heavy ice throughout the Great Lakes region has forced a week's delay in the opening of the St Lawrence Seaway for the 2015 navigation season. According to Terence Bowles, president and CEO of the Canadian Seaway Management Corp, the Seaway had planned to open on 27 March but after studying the ice
Container freight rates fell again in January Container freight rates fell for the second month in a row in January, figures released today by UK-based consultancy Container Trade Statistics (CTS) have revealed. The rates dropped by one point to 81 in January following the previous one-point dip in December 2014 on the previous month. The
Concerns mount over Chinese iron ore imports The price of iron ore fell to a six-year low yesterday on the back of fears of weaker than expected economic growth in China, while the ongoing decline in the link between the growth and steel production there raises further concerns for dry bulk shipping, senior shipping analysts reported. Ore
Sainty Marine offers guarantee for subsidiary yard Shenzhen-listed Sainty Marine will offer a guarantee for a combined fund of CNY145 million (USD23 million) for Sainty Shipbuilding (Yangzhou), its major shipbuilding subsidiary based in Yangzhou. Sainty Shipbuilding (Yangzhou) is planning to sell and lease back its production facilities from AVIC
Colombia detains COSCO vessel over illegal arms COSCO's heavy-lift ship Da Dan Xia was detained in Cartagena by Colombian authorities on 4 March for carrying illegal weapons. About 100 tonnes of gunpowder, 2.6 million detonators, 99 projectiles, and about 3,000 cannon shells were found on the Hong Kong-flagged ship, which was bound for Cuba,
ICTSI gross revenue up 24% Singapore-listed port operator International Container Terminal Services (ICTSI) posted a 24% full-year gross revenue increase for the financial year ended 31 December 2014, due to higher contribution from newer business units. ICTSI hiked 6% year on year (y/y) to USD191.5 million in FY 2014,
Insight: Human error caused sinking of Taiwanese research ship The sinking of Taiwanese maritime research vessel Ocean Researcher V has been attributed chiefly to human error, according to a Maritime and Port Bureau report. "Investigators found that the crew members did not follow correct procedures during the return voyage, which required the use of nautical
Dawei Port construction deals to be inked this month A source has confirmed to IHS Maritime that construction contracts for Dawei Port in Myanmar will be signed this month. Two Thai construction companies, Italian-Thai Development and Rojana, are reportedly close to signing an agreement with the Burmese government to develop the first phase of the
NYK devises energy-saving adjustments for box ships Japan's Nippon Yusen Kabushiki Kaisha (NYK) and its subsidiary Monohakobi Technology Institute (MTI) have made energy-saving adjustments for container ships. The adjustments resulted in lowering carbon dioxide (CO2) emissions by 23% over six months, beating pre-test estimates. To reduce energy
Alam Maritim wins Petronas Carigali charter contract Malaysia-listed offshore services provider Alam Maritim Resources has secured a contract from oil company Petronas Carigali for the provision of spot charter marine vessels. The contract was signed for the duration of two years effective until 8 January 2017 with an extension option of one year
EMAS Offshore sets up USD500 mil. debt issuance programme Singapore-listed offshore services provider EMAS Offshore has set up a USD500 million multicurrency debt issuance programme and has appointed Singapore-based DBS Bank as its sole arranger and dealer. According to EMAS Offshore's filing in the Singapore Stock Exchange, the debt issuance programme
Industry viewpoint: The Jones Act - Time for repeal? Increasing domestic pressure in the US might assist the TTIP negotiations and lead to easing of some restrictions but don't hold your breath
Where is the demand growth for all this new LNG? Producing new LNG and hoping the demand will be there seems like a risky strategy that puts the fate of the ships in question
D'Amico satisfied with its product tanker fleet size as it prepares for upturn New Middle Eastern refinery capacity presents cargo-carrying opportunities for Italian tanker company
Rates slip again But carriers hopeful of success in their mid-March price push
Offen confirms New York MLP plan Updated: German owners move away from wreckage of KG system
RS Platou downgrades Maersk shares to neutral from buy Move due to higher share price and 'disappointing' guidance for 2015
Oakland on track for normal operations Vessel logjam expected to disappear within 10 days
Brussels must work with European shipping to promote market access, urges Ecsa president Europe must play its role as an international trade partner, says Rehder
Rongsheng Heavy Industry scraps warrant issue following arrest of key subscriber Beleaguered shipbuilder's hopes of raising $416m are dashed
Slow start to the year for container volumes Container Trades Statistics figures reveal a decline in the Asia-Europe trade and at a global level
Mitsui OSK and Höegh joint venture lands Volvo exports deal EML to ship cars out of Gothenburg for Russian and Chinese markets
IACS responds to Tokyo's calls for better class rules Following MOL Comfort incident, industry body says new requirements under development took Japanese government's suggestions into consideration
Four candidates confirmed in running for IMO secretary-general IMO member states have until the end of the month to submit their nominations
California Cartage CEO: Treat drivers better at marine terminals Robert A. Curry Sr., president and CEO of California Cartage Co. and a 60-year veteran of the harbor drayage industry, says, "The driver needs to be taken care of. I've been preaching that for years." LONG BEACH, California - The truck drivers that shuttle containers to and from marine terminals are...
ILA officials: We won't poach ILWU's cargo The International Longshoremen's Association said it will not undermine the International Longshore and Warehouse Union by seeking cargo diverted to East and Gulf Coast ports by the recent West Coast contract standoff. ILA President Harold Daggett issued a statement Friday reiterating his union's support of the ILWU, and the ILA's...
Livingston to open US headquarters in Chicago North American customs broker Livingston International will be opening a new U.S. headquarters in Chicago, which has become a virtual hub for fast-growing third-party logistics companies during the past decade. Livingston CEO Steve Preston and Chicago Mayor Rahm Emanuel announced the news Friday. Preston said a new U.S. headquarters for the Toronto-based...
Japan calls for ship design changes in MOL Comfort report A final Japanese government report on the 2013 break-up and sinking of the MOL Comfort has called for amended ship design requirements to better ensure the safety of large container ships. The International Association of Classification Societies said it will study the report on the MOL Comfort, the largest container ship...
Foreign trade drives February surge in China exports HONG KONG - China's containerized exports for February leapt 17.5 percent to 8.6 million 20-foot containers as strong foreign trade and a late Chinese New Year pushed up volumes leaving its ports.The top seven coastal ports posted soaring throughput as the majority of shipments exported for the late lunar new...
New intra-India feeder service launched covering west coast ports Logistics giant Transport Corporation of India has launched a coastal container feeder service between West India and South India, a growing route that has seen the entry of rival feeder lines in recent months. The port coverage is as follows: Mundra, Cochin (Vallarpadam Transshipment Terminal) and Mundra. The company is employing the...
Oakland reports progress in recovering from labor standoff After two weeks of working all-out to clear its worst congestion problem since 2002, the Port of Oakland on Friday reported reduced vessel backups and yard congestion, improved truck transaction times and better terminal productivity. "This isn't victory - there's still a great deal of work to do - but we're...
Virginia's Richmond inland port closes after heavy snowfall The Port of Virginia closed its port in Richmond after unexpected snowfall hit the James River facility Thursday afternoon. The port closed at 2 p.m. Thursday "as a result of accumulating snow and deteriorating road conditions in the Richmond metro area," the Virginia Port Authority said in a statement. By Thursday evening,...
Virginia's NIT remains closed to export intermodal traffic Virginia's Norfolk International Terminals remained closed Thursday to all export rail containers, as the port continues to cope with backlogged rail volume at the facility. The Virginia Port Authority announced it was working with rail partner Norfolk Southern Railway to reopen the railroad's Midwest and Ohio Valley intermodal gates to NIT...
Rare delay in seaway start US and Canadian officials have delayed the opening of the Great Lakes-St Lawrence Seaway System to 2 April.
Rieber fixes to Dof GC Rieber Shipping has secured employment for one of its subsea vessels which will be hired by Dof Subsea.
Grimaldi holds Anek ferry A passenger ferry owned by Anek Lines has been held in the Greek port of Patras following legal action from the Grimaldi Group.
Riga hit by claim Another insolvency claim has been filed against Latvia's Riga Shipyard.
Attica back in black Greece's Attica Holdings has returned to profit after five loss-making years, boosted by higher volumes and revenue.
Saga Tankers in merger Oslo-listed Saga Tankers is to merge with its billionaire chairman's private equity investment company Strata Marine & Offshore.
Zvezda "sanctions-proof" The construction of Russia's big new far eastern shipyard Zvezda has not been hampered by western sanctions.
Astomos aims for the top Japan's Astomos Energy wants to be the biggest LPG trader in the world as it plots a fleet expansion to 30 ships by 2020.
Tanker goes adrift A chemical carrier has gone adrift 11.5 nautical miles off Kythera island in southern Greece.
Lysblink towed into port DFDS' Lysblink Seaways has been safely towed to Clydeport in Scotland after grounding last month.
Swissco names new COO Swissco Holdings has named a senior executive from its recent acquisition Scott and English Energy (SEE) as its new chief operating officer (COO).
FPSO in scrap row A huge FPSO has been beached in Turkey despite protest from green groups concerned it could contain radioactive material.
Scrubber burden eased Wartsila has teamed with Clean Marine Energy (CME) in an effort to ease the financial burden on shipowners seeking to meet new sulphur emissions legislation.
Eimskip ups earnings Icelandic container line Eimskip has posted a bigger profit in the fourth quarter as revenue grew.
Dof's double deal Dof Subsea has secured further employment for two of its offshore support vessels.
Strike threat delayed A strike by Indian port workers planned for 9 March has been postponed by a week.
Getting the hump with PE We take a look at what was said in the market over the past week.
New ferry breaks down A new CalMac ferry has broken down off Scotland less than a month after starting operations.
Subsea 7 may chop ten Subsea 7 may look to trim its owned and chartered-in fleet as it battles with reduced E&P spending by the oil majors.
Record year for tanker S&P Crude tanker sales in 2014 were the largest in recent history according to figures compiled by Clarksons.
EMAS eyes fresh funds EMAS Offshore, the Singapore offshore vessel operator, is looking to raise fresh capital to fund the next stage of its expansion.
Mystery mogul funds race to reclaim lost 'marbles' Industry insiders were scratching their heads this week in the wake of rumours that a Greek shipping magnate has coughed up cash to fund the next phase of a crusade to repatriate the Parthenon Marbles.
Weekly Global Market Report A weekly price roundup from bunkering hubs around the world.
Support emission-reduction targets, transport group tells shipping CSC also calls for emissions monitoring.
Pennsylvania backpedals on higher tax for LNG Governor wants to encourage use of the alternative fuel.
Report: Gazprom Neft seeks financial help from government Asks for $3.3 billion in financial support.
DNV GL CEO: 'Innovate to stay ahead of the game' Europe needs to continue to invest in R&D to keep leading edge, he says.
Hedging losses drag shipping company into the red Nevertheless d'Amico International says prospects look promise
Tankoil reported to be heading for bankruptcy OW Bunker trustees hopeful it will shed light on what happened between DOT and its biggest debtor.
'Europe failing to offer shipping companies enough support' If you want to develop 'motorways of the sea' you must support port infrastructure, says legislator.
Canadian firm opts to protect ships from arrest With interpleader lawsuit.
OW 'had a culture of aggressive risk-taking' Lack of transparency and conflicts of business roles were key factors in OW Bunker collapse, according to Singapore published study.
Vopak expecting changes in fuel oil markets 'Solid' demand in bunker market, but inland demand set to shrink.
Wartsila embraces scrubber financing scheme To promote uptake of units.
NYK to update design of boxship newbuilds Trial with modified containership shows 23% reduction in CO2 emissions.
Spare capacity at bunkering hub terminal Vopak 'needs more throughput' before considering expansion.
ExxonMobil: Antwerp coker unit to start up in 2017 New unit will convert fuel oil to distillates.
Marine design firm unveils oil recovery tool 'This was not an easy product to develop', says General Manager of Miko Marine.
Gazpromneft adds bunker tanker to fleet Vessel was christened at Black Sea port of Novorossiysk.
Singapore accredited supplier at new office SK Energy International at new location.
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