Container ship fleet to see record deliveries in 2015 The global container ship fleet will see record growth in 2015, while the demand for capacity will remain subdued, particularly due to weak demand from Europe, a senior shipping analyst has predicted. "2015 will see a record inflow of newbuild tonnage. BIMCO forecasts close to 1.6 million teu will
Cyber security for shipping needs unique approach Specialist cyber-security product manufacturer LightCyber has told IHS Maritime that shipping needs a new approach to cyber security. LightCybers' technology provides "visibility into security incidents and cyber breaches by monitoring and profiling user behaviour, and accurately detecting
Container shipping glut hurting Hanjin Shipping A decision to focus on container shipping may have affected Hanjin Shipping's efforts to improve its liquidity as the sector remains stagnated, an analyst has said. True Friend Korea Investment & Securities analyst Yun Hee-do said that while the plunge in bunker prices has eased Hanjin Shipping's
KDB chairman: 'DSME might have more losses' Daewoo Shipbuilding & Marine Engineering, already reeling from a massive second-quarter deficit after revealing hidden losses from offshore plant projects, could see its full-year result become even worse than previously forecast. Testifying at a parliamentary inspection of state-owned policy bank
IKEA to make Incheon port its gateway to South Korea Swedish furniture maker IKEA will export most of its goods to South Korea via Incheon port. IKEA, which opened its first store in South Korea in December 2014, made this decision after it began testing out Incheon New Port Phase 1-1 container pier (Terminal B) in July. Impressed with the
China gets tough on safety at Tianjin port China has launched extensive safety inspections on companies handling dangerous goods in the vicinity of Tianjin Port. This is seen as showing its determination to clamp down on companies storing hazardous materials improperly in the aftermath of the deadly explosions in August. State media
'Don't jeopardise recycling capacity', ECSA warns EU The European Community Shipowners' Associations (ECSA) has said that Europe should trust class society judgements on ship recycling yards or risk putting off big players from signing up to international standards. ECSA was commenting on the latest certifications of compliance issued by ClassNK to
Shipping Australia predicts rise in reefer rates Ratification of the Trans-Pacific Partnership (TPP) free-trade deal will be a boon for the Australian reefer trade, according to Shipping Australia Limited (SAL). The TPP, or Pacific Rim, trade deal will lift 95% of tariffs on a broad range of Australian agricultural exports, according to the
South Korean minister calls for container lines to widen horizons Container shipping companies in South Korea should widen their horizons beyond just shipping in order to capitalise on opportunities created by new technologies, said Yoo Ki-june, minister of oceans and fisheries. The minister, who has stated that emerging industries will be the growth engine of
Storm clouds gather for global economy The global economy is heading for a period of prolonged weakness and of great uncertainty, the Danish Maritime Forum was warned on 7 October. Weak economic growth means challenges on the economic front will create potential for social unrest and 65 of the 175 countries in a survey emerged as suffering
APL starts new North Asia-US West Coast service Singapore-headquartered container carrier APL will start a new weekly US-flagged service to connect key markets in North Asia with the US West Coast, while also connecting the US inland regions via rail. Eagle Express Service (EXI) will rotate within ports in Qingdao, Shanghai, Busan, Los Angeles,
Malaysia focuses on bathymetry for growth Malaysia has placed priority on mapping its seabed for better utilisation of the country's maritime resources and security. Speaking at the 10th General Bathymetric Chart of the Oceans (Gebco) Bathymetric Science Day 2015 on 5 October, Malaysia's deputy defence minister Mohd Johari Baharum stressed
India and West Africa may partly offset dry bulk slowdown in China, says Western Bulk's Ismar Emerging economies may offer support to a sector pressured by slowing Chinese demand
VLGC spot rate revival on fresh cargoes Slump is halted but it might not take much to reverse current upturn
TEN ties up three LR2s on three-year charters European oil company will use tankers for lifting crude oil
Dry bulk woes to continue on oversupply Vessels being ordered and delivered are outnumbering demolitions, leading to an oversupplied market and depressed rates
Ocean Rig will mull scrapping if rigs left unemployed Bleak market may also prompt laying up modern drillships, says owner
Southeast Asian oil imports to grow IEA reports says maritime chokepoint in Malacca Strait has potential for more serious accidents as shipments to Southeast Asia accelerate
Dodge Kenyon joins Liberian Registry Investigations Division vice-president joins from Holland America Group
MOL and NYK Line receive financing for four LNG tankers The four carriers are currently being constructed by MI LNG and Kawasaki Heavy Industries
Consortium launches second generation biofuels project Partners target 5% share of marine fuel market by 2030
USCG suspends El Faro crew search mission No survivors found from crew of 33
India extends bunker fuel tax benefits Move is the latest measure to help shift cargo transportation away from roads to coastal waters
China takes aim at Kenya ports in One Belt One Road initiative Kenya is currently mulling over China's ambitious maritime infrastructure plan
APL launches Eagle Express service Weekly service will link North Asian markets to the US west coast
Tanker owners face Hamlet's dilemma: to build, or not to build? Owners remain divided on whether to build more tankers to meet demand
Marad to fund new emission-reducing projects Marad will provide $1.2m towards a LNG conversion project and an on-board air pollution control device
Indian Ocean High Risk Area reduced Serious threat to shipping remains off coast of Somalia
Australia shipper expects TPP to fuel reefer growth Shipping Australia Limited is betting the Trans-Pacific Partnership free-trade deal will be a boon for the Australian reefer trade, which the country hopes will offset the trade losses sustained after the commodity bust. The TPP will lift 95 percent of tariffs on a broad range of Australian agricultural exports, according to...
NS warns lack of federal safety tech extension threatens intermodal service MEMPHIS - President Obama's decision to enforce the end-of-year deadline for U.S. railroads to install new safety technology will hurt the network fluidity intermodal shippers depend on, a Norfolk Southern Railway executive said Thursday. The president this week said he does not plan to extend the Dec. 31 deadline for rail...
NY-NJ port still must do more to prepare for mega-ships The situation at New York-New Jersey, the largest East Coast port, can be briefly described as follows: Long-term projects costing hundreds of millions of dollars to ensure the port is prepared to handle mega-ships, specifically deepening the channel to 50 feet and elevating an old bridge over a key waterway,...
US imports: Fastest-growing Asian sources Among the top 10 fastest-growing Asian sources of U.S. imports are a number of nations, such as China, South Korea and Vietnam, that have long played a dominant role in global supply chains for both raw materials and finished products. At the same time, there are a number of surprises...
C.H. Robinson White Paper: Optimize Your Supply Chain with Air Cargo Air cargo can help optimize your global supply chain with speed to market and the best combination of service and price. This white paper explores. How air cargo can provide quick response to market demands The value of technology in air cargo services The benefits of air cargo in emerging markets ...
Maritime subsidy increase attached to House oil-export bill An increase in the annual subsidy for operation of U.S.-flag ships under the Maritime Security Program has been inserted into a U.S. House bill to lift the United States' 40-year-old ban on oil exports. The House is scheduled to vote on the oil-export bill Friday. House Republican leaders added a provision...
Zim hires banks for IPO - report LONDON - Zim Integrated Shipping Services refused to comment on reports it is planning an initial public offering in the U.S. next year. The Israeli carrier has hired Merrill Lynch, Bank of America's investment bank, and the U.K.'s Barclays bank, to lead the IPO in the first half of 2016, Bloomberg said,...
IKEA chooses Incheon port as South Korea gateway Port of IncheonSwedish furniture maker IKEA has decided it will make Incheon port its primary South Korean gateway after it began testing out Incheon New Port Phase 1-1 container pier (Terminal B) in July. IKEA said that shipping its goods via Incheon has helped to reduce its overall shipping costs due...
Russian rail operators cutting fleet as demand lags Russian containerized rail companies are cutting their fleets this year and plan to do the same next year, as the country's trade suffers from Western sanctions and the low price of oil. The companies are cutting their fleets by 60,000 to 70,000 rail cars this year and 30,000 to 50,000 next...
Panamax unemployment set to soar as carriers suspend services LONDON - The imminent suspension of several liner services between Asia and the U.S. East Coast and South America during the slack shipping season threatens to put as many as 50 Panamax container ships out of work by January, according to Alphaliner. And the jobless total is set to soar to...
Risk management: a new link in the supply chain MEMPHIS -Recent harsh winters, equipment shortages and longshore labor disruptions have taught beneficial cargo owners that supply chain plans of the past are inadequate in today's unpredictable transportation environment if they do not include risk assessment and management. Unusually cold and icy winters in the eastern half of the continent in...
Hutchison's Aussie chief gives gloomy assessment of union talks HPA's Sydney International Container Terminal.HONG KONG - Hutchison Ports Australia and the Maritime Union of Australia today agreed to extend conciliation talks until November as both sides try to find a way out of a bitter dispute that exploded after 97 workers were fired in early August.The parties signed a...
Carriers face three more years of excess capacity pain, Drewry warns HONG KONG - The container shipping industry is facing three more years of overcapacity and financial pain because of slowing global trade and a bloated order book of large vessels, forcing Drewry to slash its growth forecast for 2015 and revise down estimates for future years.The London-based analyst said in...
APL to have full control over new North Asia-US West Coast service APL will call at Dutch Harbor on its new service to Los Angeles.HONG KONG - Container line APL has launched a weekly service connecting North Asia markets with the U.S. West Coast using U.S.-flagged vessels in a speedy transit that will be controlled by the carrier from end-to-end, including the...
Soft economy, slow volume growth for surface transport seen ahead MEMPHIS - Those in the U.S. surface transportation sector can buckle up for more of the same, so long as the national economy continues to creep along at its current pace. Softness in the overall economy should continue to slow most growth for the surface transportation sector, according to economists and...
West Coast port crisis casts a long fall shadow MEMPHIS - The "echoes" of the West Coast port crisis may still be heard in soft freight demand, pressures on truck rates and high inventory levels, speakers said at the JOC Inland Distribution Conference here Wednesday. The labor dispute that practically shut down West Coast ports from November last year...
Oceania reveals Sirena deployment Oceania Cruises plans to deploy its recent second-hand acquisition to journeys in the Caribbean and Pacific regions after a $40m refurbishment.
Larger claims hit TT Club Profitability of liner shipping mutual more than halved through first eight months.
Bahri profit soars Saudi Arabian state shipowner Bahri has seen earnings jump in the third quarter in strong tanker markets.
$100m for TEN Greece's Tsakos Energy Navigation (TEN) has secured $100m in revenue by fixing out its three LR2 tankers.
Sainty bosses held Prosecutors in China's Jiangsu province have arrested the former chairman of Sainty Marine and a former executive.
Diana secures bulker cash Greece's Diana Shipping has tapped ING Bank in London for $39.68m to finance two bulkers.
Port model questioned A case that could change how public ports are organised in Norway and other countries will be heard in Luxembourg next month.
Two to three years Executives at some of world's largest public tanker owners threw their weight behind a cyclical market recovery in London yesterday.
Crew held over capsize Brazilian authorities are tackling an oil spill from a livestock carrier that capsized at the dock in Barcarena as local reports said thousands of cattle have been killed.
India boosts boxships Coastal containerships operating in India are to benefit from tax breaks on fuel.
Sekimizu's views "a danger" Marshall Islands registry strongly opposes IMO chief's stance on CO2 emissions.
Zim "hires IPO banks" Israel's Zim is staying quiet on a report that it has hired two banks to carry out its long-planned IPO next year.
HHIC on course Philippines-based Hanjin Heavy Industries & Construction (HHIC) is beating its Korean sister yard to its newbuilding target in 2015.
Arrow leaks 45 years on The wreck of a notorious Onassis tanker has spilled oil once more off the coast of Canada.
CMB chops loss Marc Saverys-led diversified owner posts smaller deficit in Q3 ahead of delisting.
Is OPEC's public image limited? Oil exporting cartel OPEC is worried about its image, an internal report has revealed.
Scam email hits Red Funnel UK ferry operator Red Funnel has warned recipients not to open a fake confirmation email that will land them with a nasty virus.
Wetering was bankrupt Dutch yard group Wetering Rotterdam's ship repair business was bankrupt when compatriot Damen bought it this week.
ORIG may start scrapping Ocean Rig says it may consider scrapping some of its older rigs despite them being less than 15 years old.
APL's 'speedy' US service APL is set to launch a new weekly US-flagged service connecting North Asia with the US West Coast as well as serve inland regions via rail.
Wartsila in bio-fuel study Wartsila has teamed-up with GoodFuels Marine and Boskalis to collaborate research into the potential for marine bio-fuels.
Cataferry goes to Incat Incat Crowther has been commissioned to design a 90-foot catamaran passenger ferry for a Malaysian customer Cataferry.
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