Maersk confirms box ship order Maersk Line of Denmark has contracted South Korean shipbuilder Hyundai HI (HHI) to build a new series of 14,000 teu box ships. With pricing at USD137.5 million per vessel, the order covers nine firm ships and eight options. The newbuilding contract was signed today (8 July) at Maersk's head office
Sewol compensation claims pick up Survivors of the Sewol ferry disaster and relatives of its victims have filed more than 100 applications for compensation from the South Korean government. But submissions are set to accelerate ahead of a deadline on 28 September, said the Ministry of Oceans and Fisheries (MOF). "We expect more
Box ship sinks off Thailand A Cambodia-flagged container ship sank off Phuket, Thailand, in bad weather on 8 July. Sinaran Andaman, with IMO registration number 8654998, sustained engine failure, causing the vessel to drift and into rocks. The 1,591 dwt, 2005-bulit vessel then took in water and sank in the Andaman Sea off
SBI Offshore ventures into renewable energy business Singapore-listed offshore services provider SBI Offshore has partnered GSS Renewables (GSSR) to pursue a solar photovoltaic energy business. The two companies have incorporated a joint-venture company - Graess Energy - in Singapore with an initial paid-up capital of USD100 divided into 100 ordinary
Bumi Armada clinches $755m loan facility Malaysia-listed offshore services provider Bumi Armada has clinched a syndicated term-loan facility and a standby letter of credit facility for a maximum aggregate principal amount of USD755 million. The loan facility was signed by its wholly owned subsidiary Armada Kraken Private Limited,
Ezra clinches offshore contract in Middle East Singapore-listed offshore services provider Ezra Holdings has inked a deal with oil company Saudi Aramco for an offshore project in the Middle East. The long-term agreement with Saudi Aramco was signed by Ezra's subsea services division EMAS AMC in a consortium with Larsen & Toubro Hydrocarbon
CSBC to build two 1,800 teu box ships for TS Lines Taiwanese shipbuilder CSBC has inked a deal to build two 1,800 teu container ships with an option for another two with compatriot carrier TS Lines. This deal is CSBC's first order for 2015. The first ship is expected to be delivered in the second half of 2017. However, the price of the
Nandong Mingde Heavy Industry restructuring in doubt The restructuring of Nantong Mingde Heavy Industry (NMHI) is uncertain as the company has failed to deliver a restructuring plan to its receiver Sainty Marine as scheduled. As of end of June, Shenzhen-listed Sainty Marine in its stock filing on 8 July said it had not received a restructuring plan
Cargo carriers collide off Southeast China Two cargo carriers collided off Ningde, Fujian province, in the evening of 6 July. Chang Fu Xing, a 5,107 dwt vessel carrying ferronickel with 13 crew members, and 15,500 dwt Hong Wei 298 ferrying anthracite coal with 18 crew members collided at Guanjingyang, east off Ningde. The fore peak of
Tauranga appoints Rohde Nielsen for dredging Danish dredging company Rohde Nielsen has clinched the tender to carry out dredging works for Tauranga port's expansion. Rohde Nielsen is to deepen and widen the access channels from 12.9 m to 14.5 m inside Tauranga's harbour, and from 12.9 m to 15.8 m outside the harbour. Tauranga, New Zealand's
Ship safety centre opens in Vancouver A shipping safety centre has been established in Vancouver, Canada, to promote research into the highest standards for safe and responsible maritime transportation. The Clear Seas Centre for Responsible Marine Shipping has received contributions of more than USD3 million each from the Canadian
Analysts: Ezion making synergistic investment in Rotating Offshore Solutions Singapore-based offshore oilfield service provider Ezion's plan to acquire 30% of compatriot marine engineering solution provider Rotating Offshore Solutions would bring synergies for the former, said analysts. Ezion made the announcement on 6 July. Rotating Offshore Solutions' key products
Canal expansion to shake up US trade patterns When the enlarged Panama Canal opens next year, shippers transporting goods to the US Midwest will face new choices over speed and cost
Busy Middle Eastern VLCCs have 23 cargoes still to come With 29 ships available for those cargoes, owners have the power and so spot rates will rise
DFDS and Forth ports invest in Scotland's last remaining direct ro-ro link to Europe Companies say infrastructure and environmental technology investments show support for Rosyth-Zeebrugge service
Baltic Exchange to seek non-dom U-turn Updated: Penn pledges to seek reversal of decision to scrap shipowner tax break
Mingde Heavy Industry restructuring faces uncertainty Sainty looks to be pulling back from its debtor's reorganisation scheme
Samsun Logix files for court rehabilitation again Weak dry bulk market forces South Korean carrier to scrap existing debt repayment plan
Maersk orders up to 17 14,000 teu boxships at HHI Update: Danish giant does not intend to deploy them on Asia-Europe routes
Shipowners demand stronger EU response to migrants crisis Ecsa and NSA delegates address key European Parliament committee
Container equipment prices hit 10-year low Falling material and production costs are main drivers behind drop
MIQ Logistics named a top privately-held company for fifth time OVERLAND PARK - MIQ Logistics proudly announces that, for the fifth consecutive year, it is ranked on Ingram's list of Top 100 Privately Held Companies in the greater Kansas City area. The 2015 report again places MIQ Logistics in the list's top 40. "We are pleased by the results of Ingram's...
Diana Containerships Inc. continues charter of m/v Pucon ATHENS, GREECE - Diana Containerships Inc. (NASDAQ: DCIX), (the "Company"), a global shipping company specializing in the ownership of containerships, today announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract for one of its Post-Panamax container vessels, the m/v Pucon, for a...
Kalmar to refurbish two ship-to-shore cranes for ACCHCO in Egypt Kalmar, part of Cargotec, has received an order to retrofit both electrically and mechanically two ship-to-shore (STS) cranes for Alexandria Container & Cargo Handling Co. (ACCHCO) at the Port of Alexandria, Egypt. The order was signed into Cargotec's 2015 second quarter order intake, and the project is planned to be...
NS to expand Columbus intermodal terminal Norfolk Southern Railway is planning a $34 million plan to expand its Rickenbacker Intermodal Terminal outside of Columbus to meet growing distribution demand in central Ohio. The seven-year-old facility at the Rickenbacker International Airport supports roughly 210,000 "lifts" a year, but is now operating at or beyond its capacity, according to...
Container ship sinks off Thai coast This Royal Thai Navy photo shows the 65-metre Cambodian container ship being dashed on rocks about 3 miles south of the resort island of Phuket.A Phnom Penh-registered container ship sank off the coast of Phuket in Thailand during stormy weather about three miles from shore. The 65-metre Sinaran Andaman sank after...
Under Armour shifts US West Coast cargo to Baltimore Port of BaltimoreUnder Armour this week began receiving imports through Baltimore in yet another sign of the U.S. East Coast's market share gains following recent West Coast congestion. For years the Baltimore-based company supplied its Maryland distribution center with sports apparel, footwear and fitness devices routed through other ports. Under Armour...
Lagos importers see clearance times triple Importers using the Port of Lagos have seen their customs clearance times triple after equipment failures at the country's largest container terminals, according to a local report. Nigerian customs authorities have reverted to completely manual inspections after scanning equipment failures at the Tin Can Island and Apapa container terminals caused a...
The Internet of Things Supply Chain Imagine a world where physical objects exchange knowledge and cooperate together like teammates to achieve unparalleled business efficiency. From textile looms to shipping pallets to store shelves, everything in the supply chain would sync, automatically, to optimize operations. The Internet of Things is bringing about that world at a furious pace-very...
Back-to-school orders forecast to drive healthy US import gain Import volume at the busiest U.S. container gateways during July is expected to rise 7.3 percent from a year earlier as retailers prepare for back-to-school sales, according to the monthly Global Port Tracker report. U.S. consumer spending rose by 0.9 percent in May, the largest increase since August 2009, the Commerce...
US cold storage expands at healthy clip The U.S. cold storage industry has grown at an average annual rate of 9.3 percent the past seven years, and further growth is anticipated as this niche industry mirrors the country's economic expansion, according to a report published by Cushman & Wakefield. Cold storage warehouses, which are specialized transit facilities for...
Ira Rosenfeld, ex-JOC editor, UPS spokesman, dies at 68 Ira Rosenfeld, who covered transportation for The Journal of Commerce and later was spokesman for Overnite Transportation and UPS Freight, died Saturday in Richmond, Virginia, after a heart attack. He was 68. As a journalist, Rosenfeld was known for his no-nonsense reporting and wry commentary. His JOC column, Straight Talk, once...
WFS expands European air cargo reach with stake in German handler One of the world's largest air cargo handler Worldwide Flight Services has announced plans to acquire a majority stake in the German Fraport Cargo Services, further expanding its reach into the European market. WFS announced the news Tuesday that it would be acquiring 51 percent shareholding in Fraport. Fraport is to...
T.S. Lines order two 1,800-TEU vessels for intra-Asia trade T.S. Lines has placed an order with CSBC for two ships with capacities of 1,800 TEUs to capitalize on its position as a niche carrier in the profitable and fast-growing intra-Asia trade. The order has an option for two more ships of the same size, but the price the Taiwanese carrier...
Tauranga moves forward on project to handle larger ships Port TaurangaTauranga, New Zealand's largest container gateway, has awarded a contract for dredging to Rohde Nielsen as the port seeks to deal with the cascading of larger ships on to smaller trades and maintain its position as the preeminent container port in the country. Tauranga's outer harbor will be deepened from...
Nhava Sheva users pressed to automate cargo documentation Jawaharlal Nehru Port Trust is stepping up its efforts to create a paperless system for all cargo-handling functions in an attempt to deal with growing delays at India's largest container gateway. The public port earlier this week issued a decree calling on shipping lines to automate the process related to issuing...
Idle box ship fleet grows on weak cargo demand LONDON - The number of idled container ships of over 500 20-foot-equivalent units has risen to 108 from 82 two weeks ago and the figure is set to rise amid weak cargo demand, according to Alphaliner. "The traditional peak summer season has so far failed to provide a boost to vessel...
Mars packing process blasts off with DHL automation HONG KONG - Automating labor intensive processes in China is gaining ground as manufacturers try to mitigate the rising costs of wages, with chocolate maker Mars the latest company to embrace a semi-automated solution.DHL Supply Chain has deployed semi-automated machinery in the company's Zhejiang Province warehouse that will enable Mars...
World customs body gets on board new advance cargo security HONG KONG - The International Air Cargo Association has welcomed the World Customs Organization's adoption of advance cargo information data that is aimed at improving the industry's risk profile by adding an additional layer of security.Known as "7+1", the data set is a requirement for risk data analysis and helps...
Mean season begins for air and ocean carriers A plane and cargo ship in Tokyo. Credit: Junpei AbeHONG KONG - Summer is known as the mean season in Florida, but that description could just as easily apply to the container shipping and air cargo industries as they face up to a gloomy third quarter.Capacity in both air and...
Alibaba pours $200 million into growing SingPost stake HONG KONG - Chinese online giant Alibaba Group will invest more than $200 million in its partnership with Singapore Post in a series of initiatives aimed at expanding its e-commerce logistics platform across Asia-Pacific.Alibaba will increase its equity stake in SingPost to 14.51 percent, buying an additional 5 percent of...
LA-LB terminals graded D-minus despite better truck turn times Trucker turn times in Los Angeles-Long Beach are back to where they were in the spring of 2014 before the ports were crippled by labor slowdowns, but industry analyst Val Noronha is giving terminal operators in the largest U.S. port complex a grade of only D-minus. "An argument can really be...
SD board wants more SD Standard Drilling's board says an ongoing takeover offer by Saga Tankers undervalues the Oslo-listed company.
Greek slump shared in New York Shipping shares in New York have been suffering across the board amid the debt crisis in Athens, with investors doling out only slightly more punishment to Greece-linked shipowners, a TradeWinds analysis has found.
Teekay win appealed The Maritime Union of Australia (MUA) has appealed an order by the country's Fair Work Commission (FWC) declaring that a crew action on a Teekay products tanker must stop.
Greek slump shared by all Shipping shares in United States have been suffering across the board amid the debt crisis in Athens, with investors doling out only slightly more punishment to Greece-linked shipowners listed in New York, a TradeWinds analysis has found.
Diana boxship extended Diana Containerships has seen one of its charter agreements extended by German owner Hapag-Lloyd.
Iraq turns off the tap The Turkish port of Ceyhan has been told all Iraqi Kirkuk crude loadings have been cancelled due to a lack of oil.
Diana charter rate cut Germany's Hapag-Lloyd will keep Greek post-panamax until 2016 for less money.
SSY brings in Frank Twigg UK shipbroker SSY has hired Shell's former global manager of VLCCs Frank Twigg.
Maersk Line inks $1.1bn deal Maersk Line has signed its third newbuilding contract of the year with a $1.1bn order at Hyundai Heavy Industries.
Two delayed at Cosco Teekay-backed Sevan says a pair of accommodation units have been pushed back.
OSG sells MR tanker New York IPO hopeful Overseas Shipholding Group (OSG) has cashed in one of its older vessels, brokers say.
"Shipping cannot be taxed" The head of a US fund has described taxing the Greek shipping industry as a "risky gamble" which would be really difficult to pull off for the government.
Containership on the rocks Monsoon winds and seas have smashed a Malaysian boxship on to rocks off southern Thailand.
Safety focus Canada is funding a new organisation to research best practice and provide guidance for nationwide marine vessel safety.
Beware snap-back UK warns crews of dangers of UHMPE mooring lines after officer seriously injured on Nakilat LNG carrier.
Shell ship damaged A support ship of Royal Dutch Shell was found with a hole in its hull and had to return to port in Alaska.
Boa Offshore eyes bonds Norway's Boa Offshore is planning a bond issue worth up to $24m.
Tsipras urged to end perks Greek prime minister Alexis Tsipras has called on the wealthy to make a bigger contribution in the country's crisis, addressing the European parliament earlier today.
Egypt signs with Rosneft Egypt has signed deals with Russia's Rosneft to import LNG cargoes and oil products.
Fredriksen buys again John Fredriksen has potentially increased his stake in bulker owner Golden Ocean by snapping up more convertible bonds.
Damen deal backed Vietnam's transport ministry is backing the sale of a domestic shipyard to Dutch group Damen.
Crude output hits new high OPEC countries pumped the most oil for three years in June as volumes rose 5.5%.
Jaccar secures $900m Jaccar Holdings has clinched $900m of Chinese financing for its new very large ethane carriers (VLECs).
ECO buys Simek resale Edison Chouest Offshore has bought a PSV resale from Norwegian shipbuilder Simek AS, the yard has confirmed.
Samsun Logix seeks protection Samsun Logix has sought bankruptcy protection for a second time in six years as weak dry cargo markets take their toll.
MSC Cruises Cuba bound MSC Cruises will be the first major cruise line to homeport a vessel in Cuba, beating out rival Carnival.
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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