ICTSI weighs Portland options ICTSI Oregon faces an uphill battle to regain lost ground now that the Port of Portland has lost its second container line within two months. The box terminal operator, a subsidiary of Manila-based International Container Terminal Services Inc, was informed by Hapag-Lloyd in early April that the
Georgiopoulos consolidates bulker holdings Peter Georgiopoulos-chaired Genco Shipping has reached a definitive agreement to acquire its separately listed subsidiary, Baltic Trading, in a stock-for-stock transaction. Each NYSE-listed share of Baltic Trading will be exchanged for 0.216 shares of Genco common stock, with current Genco
Daewoo bags Angelicoussis options South Korea's Daewoo Shipbuilding & Marine Engineering (DSME) has secured two further VLCC tankers orders, after Angelicoussis-led Maran Tankers exercises options on an original order placed back in January 2015. The 319,000 dwt very large crude carriers cost in the region of USD97 million each,
Viking gains contracts after terminations Viking Supply Ships, the Copenhagen-based offshore services unit in the Rederi AB Transatlantic group in Sweden, has rebuilt its contract business with new charters following early terminations of three charter parties at the start of the year. Yesterday the company unveiled a USD45 million
Activists rescue fish thieves from 'scuttled' pirate ship A ship belonging to radical conservation group Sea Shepherd that had been pursuing a notorious illegal 'fishing pirate' ship came to the rescue when the trawler began to sink off São Tomé, West Africa, on Monday. Dutch-flagged Bob Barker, a 1950-built, 488 gt former whale catcher now operated by
Infographic: Oil tanker casualties IHS Maritime casualty data records 613 oil tanker incidents involving vessles of more than 10,000 dwt over the past decade, of which only 13 incidents (2.1%) were of sufficient severity to result in the total loss of the vessel. The overall incident numbers recorded suggest the tanker sector has a
Ruling party calls for prompt Sewol salvage The floor leader of South Korea's ruling Saenuri Party has urged the government to hoist the capsized Sewol ferry at the earliest possible time. Speaking on the second day of the National Assembly's month-long extraordinary session, Yoo Seong-min echoed President Park Geun-hye's 6 April statement
Indonesia seeks new location for seaport Indonesia is seeking a new location for seaport construction after raising safety concerns for the existing Cilamaya Port project. The country's vice-president Jusuf Kalla cited that the original position for the Cilamaya Port project is "too close" to an oil and gas block operated by Pertamina
RCL, MOL include Myanmar in intra-Asia service In a sign of increasing traffic out of Myanmar, Thai feeder operator Regional Container Lines (RCL) and Mitsui OSK Lines (MOL) have decided to have a direct call at the once-isolated Southeast Asian country. The new service, RCL Thai Yangon, will link up of one of its current Thailand-Singapore
Precious Shipping: BDI does not tell our pain The Baltic Dry Index (BDI) may have reached an all-time low this year. Even so, taking into account the inflation since the previous historic low in 1986, the index does not give the whole picture of the pain of bulker owners, said Precious Shipping managing director Khalid Hashim. The BDI reached
Wärtsilä venture delivers first China-specific gensets Wärtsilä Qiyao Diesel Company (WQDC), Wärtsilä's joint venture in Shanghai, has reported delivery of its first Auxpac 16 gensets to the Chinese market. The sets will be installed in a series of bulk carriers being built by Guoyu Shipyard for Singapore shipowner Pioneer. The Auxpac 16, a
Four bodies found from last week's Taiwan sinking Four bodies have been retrieved a week after a cargo ship capsized in the Taiwan Strait on 30 March, while nine other crew members are still missing, China's Fujian Maritime Safety Administration announced on 7 April. The 6,426 gt cargo carrier Zhen He 168 from the mainland sank west off Xiquan
Busan box transhipments hit record high Busan Port transhipped a record number of containers for February. Busan Port Authority (BPA), which oversees the port, said transhipped containers rose 25.4% year on year (y/y) to 832,989 teu, while import and export volumes rose 2% y/y to 682,241 teu. Overall, total container throughput for the
Ezra profit drops 79% Singapore-listed offshore services provider Ezra Holdings saw its profit after tax drop 79% year on year to USD4.7 million for the second quarter that ended on 28 February 2015. Its revenue increased slightly by 1% to USD301.9 million, compared with USD300.4 million in the second quarter of 2014.
NOL still seen struggling in short term Singapore-based Neptune Orient Lines (NOL) will still struggle in the short term despite a cash injection from selling its logistics business, an analyst said. NOL, the parent company of APL, announced in February it would sell APL Logistics to Japanese freight forwarding company Kintetsu World
Shell and BG Group could create monster fleet of 70 LNG carriers Update: market will be watching shipping giants to ascertain Shell's prioritisation of certain segments of BG's business if merger goes ahead
Non-dom rule change 'potentially catastrophic', warns Penn Baltic Exchange chief executive predicts a mass exodus if the plan becomes government policy
Genco and Baltic Trading clinch merger deal Stock-for-stock transaction will create a combined fleet of 70 bulkers
Hellenic Carriers posts larger loss for 2014 Owner sees hopeful signs of better supply side ahead for dry bulk
CMA CGM agrees 30-year Kingston concession French shipping giant plans to turn Jamaican port into major Caribbean transhipment hub
VLCC rates hold firm despite start of refinery maintenance season Positive first-quarter sentiment spills over into second quarter as owners hold their ground in dealings with charterers
Industry viewpoint: Will fair competition between ports be undermined by super-sized alliances and ships? Competition lawyer Gus Braakman questions whether antitrust laws are up to the task of ensuring ports are free to compete in the new industry landscape
Labour non-dom plan will hit shipowners Party calls for end to tax break that has strong industry support
Charter market recovery down to more than just congestion Lomar Shipping chief commercial officer Nick Bailey says the opening up of new routes for panamax tonnage has driven demand
EU states urged to take action over Mediterranean migrant vessels Humanitarian crisis spiralling out of control, shipping organisations warn
Standardised contract created for liner trades Shipper and shipowner groups have developed a new standardised contract targeted at small and medium-sized shippers
Angelicoussis inks two VLCCs at Daewoo Exercising of options brings series to six units as compatriot Pantheon mulls pair at Hyundai
APM Terminals Mumbai sets throughput record despite challenges Despite dismal truck turn times and a truck driver walkout at India's largest container terminal earlier this year, APM Terminals Mumbai hit a new record for Indian ports in fiscal 2014-2015. The Nhava Sheva facility handled more than 2 million TEUs during the fiscal 2014-2015 year beginning April 1 and ending...
US container imports return to 2009 levels U.S. containerized imports in March rocketed to the highest level in six years, reflecting increased consumer appetite and the decongesting of West Coast ports. Click to enlargeInbound volume jumped 22 percent year-over-year to 1,860,000 TEUs last month, a level of activity not seen since before the depths of the global recession....
Former Cold Train execs sue BNSF, alleging poor reliability caused company shutdown Former executives at a defunct refrigerated rail service have filed a multimillion-dollar federal lawsuit against BNSF Railway, alleging the railroad's failing service reliability and shirking of professional commitments drove the company out of business. Steven Lawson, former president and CEO of Cold Train, and Mike Lerner, former managing member of the...
Hapag-Lloyd's Portland exit decimates port's container business Hapag-Lloyd notified its Pacific Northwest customers on Tuesday that it has ended its service to Portland because of "schedule integrity" problems. Combined with the departure of Hanjin Shipping Co. last month, Portland has lost 99 percent of its container business at Terminal 6 since the end of March. Click to enlargeThe International...
Busan transshipment volume jumps 25 percent The Port of Busan is a step closer to reaching its goal of 20 million TEUs this year after handling a monthly record number of transshipment volume in February. Transshipment volume through South Korea's largest volume jumped 25.4 percent year-over-year to 832,989 twenty-foot equivalent units in the month. Import and export...
Florida at bat For Florida Gov. Rick Scott, who has invested $850 million in his state's seaports, including dredging the Port Miami to 50 feet, the recently concluded West Coast port labor dispute is an opportunity not to be missed. That is why the governor is headed to California later this week to promote...
Brazil considering longer contracts to speed up dredging SAO PAULO, Brazil - The new head of the Brazilian Ports Ministry on Tuesday promised more investment in the nation's ports and floated the idea of awarding longer dredging project contracts to get work done faster. Edison Araujo said awarding dredging contract of up to 10 years might be the solution...
CMA CGM opens new corridor to inland Gabon destinations Part of an ongoing effort to capture more of the emerging African market, CMA CGM Wednesday announced the opening of a new corridor to inland destinations in Gabon on the West African coast. It's further evidence that in order to get more involved in that developing market, ocean carriers are having...
Port Tracker forecasts 8 percent rise in April imports Imports through major U.S. container gateways are expected to post a year-over-year increase of 8 percent in April as West Coast ports continue to chip away at cargo backlogs, the latest Global Port Tracker reported. "Progress is being made but there's still a lot of cargo waiting to be loaded onto...
Large US truckers nearly double revenue growth rate The combined revenue of the 50 largest U.S. trucking companies shot up 10 percent last year, nearly double the 2013 growth rate, as the U.S. economy strengthened in the second and third quarters. The carriers benefited from increased shipping demand from customers and higher rates as truck capacity tightened. Stronger economic...
Major Japanese ports report mixed container results Japan's five biggest ports posted mixed international container traffic results in 2014 amid turbulent economic conditions at home and in some of the nation's main export markets, with four ports weathering the storm, while one failed to do so. The five ports - the Port of Tokyo, the Port of Yokohama,...
Trans-Pacific spot rates rise from 12-month low Trans-Pacific spot rates rose this week from a 12-month low, suggesting that container lines won acceptance of at least part of an April 9 general rate increase, according to Drewry Maritime Research. Click to enlargeDrewry's benchmark of spot rates from Hong Kong to Los Angeles climbed to $1,889 per 40-foot equivalent...
CMA CGM to use Kingston terminal as transshipment hub CMA CGM has signed a 30-year operating concession for the Kingston Container Terminal, which it plans to use as a strategic Caribbean transshipment hub for an enlarged Panama Canal. "This is a key investment for the CMA CGM Group," Farid Salem, the French carrier's group executive officer, said at the signing...
AirBridgeCargo Airlines traffic soars 20 percent Russia's AirBridgeCargo Airlines boosted freight tonnage by 20 percent in the first quarter as its rapidly expanding international network offset the impact of sanctions and an economic downturn in its domestic market. The all-cargo carrier, which operates 14 Boeing 747 freighters, transported 103,816 metric tons of freight in the three months...
China to sink its teeth into South African apples for the first time HONG KONG - The first consignment of South African apples ever shipped to China is on the water and will arrive in Shanghai on May 2 following eight years of negotiations between the two countries over access to the giant Chinese market.Around 20 tons of the Beaut Royal apples, contained...
Lines launch new services to capture expected growth in intra-Asia trade HONG KONG - Several carriers are introducing new services or deploying larger vessels on the intra-Asia trade as they target robust business in the region that is being stimulated by the emerging economies.While growth in intra-Asia slowed in the second half of 2014, in the past decade it has tripled...
Baltic slides on deal Shares in New York-listed Baltic Trading plunged more than 10% this morning in the first hours after confirmation that it would be acquired by sister company Genco Shipping & Trading in an all-stock deal.
Pacific Basin to raise $125m Top handysized owner Pacific Basin Shipping plans to boost its finances with the issue of $125m of convertible bonds with a cash coupon of 3.25%.
Genco and Baltic to merge Two quoted shipowning companies headed by Peter Georgiopoulos are to merge in a stock for stock transaction.
Hellenic deeper in the red An increased bottom line loss has been reported by dry bulk shipowner, Hellenic Carriers, despite a near doubling of revenue and optimistic noises from the company's management.
Arntzen in at Team Morten Arntzen has been named as chairman of Team Tankers International, the new name for the restructured Eitzen Chemicals.
APM sets India record APM Terminals Mumbai handled just over 2mteu in the last year establishing a new throughput record for Indian ports.
Shell makes BG bid Royal Dutch Shell is in advanced talks to buy BG Group in a potential multi-billion-pound takeover deal.
Trio boost Asia links Three major Asian liner operators have teamed up to launch a new feeder service linking ports in China, Thailand and Vietnam.
Shipping firm takes delivery of 'next generation' tanker Design to cut fuel consumption by 10-20%.
Shipowners must prepare for a rise in bunker prices Low bunker prices 'unsustainable in the long term.'
Shell looks to LNG with BG takeover Takeover target has world's largest fleet of LNG carriers.
Consultant seeks support for change to global sulphur limit Wants industry association to lobby at the IMO to protect the interests of developing countries.
New research base for Total Lubmarine Research vital to continuing success, Norbert Schieren.
Iranian deal could mean another year of 'cheap crude' 2016 crude oil prices might need to be revised lower.
Insolvency 'a complex issue', a seminar in Singapore hears OW bankruptcy included in case studies.
IBIA 'investing more resources in its Asian activites' Jason Leong to head Singapore office and 'lead expansion in the Asia-Pacific region.'
Alfa Laval in patent deal with DSME Move show commitment to alternative marine fuels, says company.
Port sees another container line pullout There has been a history of labour disputes at the Portland terminal.
LR: North America's first LNG-powered ferry delivered Vessel to enter service at Matane in the Canadian province of Quebec.
Singapore: MPA confident of mass flowmeter goal Several bunker tankers currently undergoing and completing acceptance tests, says spokeswoman.
VPS names new head Eirik Andreassen steps down after four years of service at the fuel testing agency.
Vessel brought to court over defaulted OW bill ING Bank seeking to claim over $600,000.
Bunker sales strengthen at Indian port As port's annual deficit shrinks.
ICS: Shipping industry 'very effectively regulated' Defends maritime sector during United Nations meeting held on Tuesday.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
