Second 'K' Line exec jailed for price fixing Takashi Yamaguchi became the second former 'K' Line executive to be sentenced within a week for conspiring to fix transportation rates for ro-ro cargo. A federal court in Baltimore, Maryland, sentenced Yamaguchi on 6 February to 14 months in US prison and a $20,000 fine. On 30 January, Former 'K'
NAT posts fourth-quarter profit NYSE-listed Nordic American Tankers (NAT) posted a $1.03M gain in the fourth quarter last year, up from a $22.1M loss in the same period in 2013, buoyed by improved average rates. Voyage revenues more than doubled to $43.1M during the quarter, compared with the same period in 2013, and were up 5.3%
Two dead in Gulf of Guinea hijackings Two pirate attacks in the Gulf of Guinea have resulted in two fatalities and raised fresh doubts over the effectiveness of the Nigerian Navy (NN) and Nigerian Maritime Administration and Safety Agency (NIMASA). On 3 February, the deputy captain was killed and three crew members abducted from Aeolos
UPDATE: MyFerryLink wins right to appeal Dover ban French Dover Strait ferry operator MyFerryLink has been granted leave to appeal against the recent decision of the UK Competition Appeal Tribunal (CAT) in favour of barring it from operating at the Port of Dover. Last month, the CAT upheld a judgement from the Competition and Markets Authority
African Union discusses maritime crime Seychelles is hosting a meeting of African Union ministers to review lessons from the fight against piracy. The forum on 8-9 February is looking at how to apply this knowledge to other forms of maritime crime in the Indian Ocean and around the African continent. Drug smuggling, human trafficking,
Sefine secures ferry pair Turkish shipbuilder Sefine Shipyard has secured an order for two passenger/car ferries from Oslo-based T. Finans AS. While full details of the two 7,000gt newbuildings have not been revealed, they will have an overall length of 142.9m and a beam of 21m. Their delivery is scheduled for November 2016
Wilhelmshaven set for 2M business boost Germany's new deepsea container port at Wilhelmshaven is poised for a surge in business through new calls from 2M alliance carriers, says the terminal's operator. Following two weak years since the JadeWeserPort started operations in September 2012, the outlook for 2015 is brightened by a rise in
Cammell Laird wins £5.7m ferry contract Cammell Laird Shiprepairers & Shipbuilders has won a GBP5.7M (USD8.6M) contract from the Department for Regional Development, Northern Ireland Executive, to build a car and passenger ferry. With capacity for 28 cars and 260 passengers, the vessel is scheduled for delivery in August 2016. Sharing
Hamburg cargo at record despite Russia fall-off Hamburg Port withstood trade sanctions on Russia and the plummeting ruble to post a record cargo volume last year. Although Russia is the port's second-largest trade partner, the plunge in its imports was more than offset by the port's gains in trades such as container liftings to and from China,
Lloyd Fonds plots KG fleet takeover Listed German KG house Lloyd Fonds wants to stage a comeback as a fully-fledged shipowner after the demise of its core KG placing activities. The Hamburg-based financier - in which US investor AMA Capital Partners is the largest shareholder - plans to take over 11 KG one-ship companies in return
I.M. Skaugen aims to extend IMSK12 issue I.M. Skaugen (IMSK) is summoning a bondholder meeting for 23 February to discuss its board's proposal to extend the maturity of its IMSK12 bond issue. "The IMSK12 bond issue is due 27 February 2015 and has currently NOK209M [$28M] outstanding, net of IMSK's own holdings," said the Oslo-based gas
Port Hedland ore shipments rise 30% Iron ore exports from Australia's Pilbara ports rose in January, driven by a 30% year-on-year rise at Port Hedland, amid a further 16% slide in prices. Port Hedland shipped out 36.7M tonnes of ore in the month, up 8.5M tonnes - or 30% - from January last year, according to Pilbara Ports Authority
China VLCC charters ships to BP and Shell China VLCC, a joint venture between China Merchants Energy Shipping (CMES) and Sinotrans & CSC, has sealed deals with BP and Shell to timecharter a VLCC to each company. The charter party was fixed on a term of two years with aggregate hires of CNY360M ($60M), a stock filing of CMES said today.
Japanese groups to build offshore wind farm Japanese shipbuilding and engineering group Hitachi Zosen Corporation will work with compatriots Sumitomo Electric Industries and Mitsubishi Corporation to build what has been described as one of their country's largest offshore wind farms. The companies will undertake a five-year feasibility study
China's Silk Road faces terrorism threat China's planned Maritime Silk Road could be highly vulnerable to disruption by Islamist militants, a forum in Bangkok heard on 6 February. Ehud Ya'ari, a Lafer International Fellow at the Washington Institute for Near East Policy, said China's planned route risks being "threatened
China's January coal imports at six-year low China imported a total of 16.8M tonnes of coal and lignite in January 2015, almost half the 35.9M tonnes for January 2014, showed data released by China's customs authorities. This January saw the import of all coal types shrank to a six-year-low for the traditionally busy month, which is usually
Chinese ports will continue to face pressure Chinese ports will continue to face pressure in throughput growth during the next two years on the back of economic rebalancing and ongoing capacity additions, said Moody's Investors Service. A port's location has become a more important credit factor in differentiating among the Chinese ports.
Otto Marine bags two long-term PSV charters worth $64M Singapore-listed offshore services provider Otto Marine has clinched two long-term contracts to charter two platform supply vessel (PSVs) to an oil major in Australia for 36 months including options, valued at around AUD80M ($62M). The two 4,000dwt PSVs are scheduled for mobilisation to Australia
FSL Trust sells stakes in TORM for $2.63M Singapore-listed shipping trust First Ship Lease Trust (FSL Trust) has sold its entire shareholding of 18,266,649 shares in the Denmark-based dry bulk carrier and products tanker operator TORM for a total consideration of $2.63M. FSL Trust stated in its filing to the Singapore stock exchange (SGX)
Indian demolition rates slide $50 per ldt Prices left well below $400 per ldt in all key markets in the region
Dry bulk woes spark secondary loans market revival Commercial banks looking to unload positions to hedge funds or alternative investors at a discount
Swelling China trade boosts Hamburg box traffic Container throughput up 5.1% to 9.7m teu but German port loses ground on rival Rotterdam
Global Ship Lease eyes more acquisitions after ship purchase Second 8,063 teu vessel; added to fleet in sale and charter back deal
Cammell Laird wins $8.7m ferry contract Order marks the Merseyside facility's third ferry newbuilding in three years
Breakaway rival to Opec would reshape tanker dynamics Tanker industry faces another shift in the landscape
Moody's sees persistent overcapacity in China's ports China's transforming economy suggests dry bulk terminals will suffer worse than container ports
Asia-Europe box volumes up 7.4% in 2014 Freight rates stay weak despite healthy trade flows
Abu Dhabi Terminals reports 26% volume growth at flagship facility Container throughput at Khalifa Port Container Terminal rises to 1.1m teu
No let-up in box shipping oversupply Carriers are expecting oversupply and freight pressure to remain as carriers continue to order bigger ships
KfW provides $56.6m to finance DFDS scrubbers Move will help ferry operator meet EU sulphur rules
Second K Line executive is sentenced in US price-fixing case Authorities say investigation to price fixing on ocean shipping services for car and trucks is ongoing
A new era in automation A look at the impact of the opening of two new automated terminals in Rotterdam
Regional gateway ports to handle larger ships La Spezia Container Terminal receives its biggest boxship, the 16,600 teu MSC London
Humanising a life at sea Connectivity to electronic communications - and its absence - seems to bring a host of problems on board
LA-LB truckers expected to get force majeure cases reviewed quickly Drayage companies that are considering filing legal challenges to ocean carrier-imposed fees for the late return of equipment under the Uniform Intermodal Interchange Agreement should have confidence that their cases will be heard and arbitrated fairly, executive with the American Trucking Associations said. "It is a very effective mandatory and binding...
US West Coast congestion ripples through supply chains Containers stacked at the Port of Oakland Jan. 9, 2015. The port loads and discharges more then 99 percent of containerized goods moving through Northern California. Photo credit: Sheila Fitzgerald / Shutterstock.comAs negotiations between the International Longshore and Warehouse Union and waterfront employers drag on, the impact of U.S. West...
Container tax removed from NJ legislation A proposed tax on stored empty containers was stricken from legislation that a New Jersey Assembly committee approved to encourage value-added development around Port Newark-Elizabeth marine terminals. Newark city officials have long eyed the stacks of empty containers around the port as a potential revenue source. Because imports exceed exports at...
Hamburg aims for 10 million TEUs in 2015 after 2014 growth of 5.1 percent The port of Hamburg increased container traffic by 5.1 percent in 2014 to a record 9.7 million TEUs and is aiming to smash through the 10 million TEUs barrier this year. Europe's second largest container hub was outpaced by top ranked Rotterdam which grew 5.8 percent to almost 12.3 million TEUs,...
Direct feeder service connects southeast India to Dubai Shreyas Shipping and Logistics has introduced a direct feeder link between India and the Middle East. From the Port of Visakhapatnam on India's southeastern coast, the fortnightly service feeds into global transshipment connections available at Jebel Ali in Dubai. The new service began with the 1,613-TEU SSL Gujarat, which was added...
Tangier surge, increased ultra-large ship calls drive Eurogate traffic up Eurogate boosted container traffic by 4.2 percent in 2014, driven by surging volumes at its Tangier terminal and increased calls by ultra-large ships that consolidated its ranking as Europe's largest container handler. The Bremen-based group handled 14.8 million TEUs last year with its domestic terminals in Bremerhaven, Hamburg and Wilhelmshaven accounting...
CMA CGM deploys largest container ship to call at Brazil French ocean carrier CMA CGM has introduced the biggest container ship to call at a Brazilian port as it beefs up its Asia- East Coast South America service. The 10,622- TEUs Tigris made its maiden call at Santos on Friday on the weekly SEAS2 service connecting Brazil, Argentina and Uruguay to...
DSV looks for takeovers after failed UTi Worldwide acquisition talks DSV is back on the takeover trail two months after abandoning talks over a potential acquisition of U.S. logistics company UTi Worldwide. "We have a clear intention of further expanding our network through additional acquisitions, provided that we can find the right candidates," said Jens Bjorn Andersen, CEO of the Danish...
Costs pile up for reefer shippers battling West Coast delays HONG KONG - A cold chain logistics operator has placed a figure on the steadily worsening U.S. West Coast port congestion, warning that delays and diversions are helping to wipe out shipper profit margins.Steve Alaerts, director sales and marketing at Antwerp-based foodcareplus, said some of the company's latest deep-frozen shipments...
HPH Trust posts surprise $2.4 billion loss on impairment charge HONG KONG - The challenging environment faced by Hutchison Port Holdings Trust terminals in Hong Kong was reflected in the financial results of the Singapore listed port operator as goodwill impairment charges took its net loss to $2.4 billion in the fourth quarter.That ruined an otherwise profitable final quarter and...
West Coast ports expected to resume normal operations on Monday Operations at West Coast ports were scaled back this weekend as employers balanced a need to reduce the container backlogs that are choking marine terminals with a desire to cut labor costs, while work slowdowns by the International Longshore and Warehouse Union show no sign of ending. The loading and unloading...
US builder upbeat The US shipbuilding industry is enjoying an unprecedented era of prosperity and it appears that this is unlikely to end anytime soon.
Miss dents NAT Nordic American Tankers watched its shares plummet Monday after reporting a fourth-quarter profit that fell short of many Wall Street forecasts.
Liner stocks take flight Shares of Global Ship Lease gained traction Monday on the heels of an announcement in which the owner outlined plans to purchase another containership.
VLCCs en vogue China VLCC, a joint venture backed by China Merchants Energy Shipping (CMES), has lined up time charters for two of its tankers.
HRG pulls listing Hurtigruten, a leading Norwegian ferry operator, is moving forward with plans to abandon its listing on the Oslo bourse.
CLIA sees strong 2015 Cruise Lines International Association has projected strong growth for the cruise industry in 2015.
Jervild forms new broker A former OW Bunker director has formed his own ship fuel brokerage.
Conversion risk 'overblown' Open shipyard capacity poses a greater risk to the tanker market than the conversion of orders from wet to dry, Clarksons Capital Markets says.
Behemoths lift Eurogate Mega-containerships have boosted Eurogate Group's numbers in 2014, with the company setting a new handling volume record.
GSL buys again Global Ship Lease (GSL) has snapped up another OOCL containership with a charter back to its former owner.
OW Bunker deal struck Liquidators from KPMG and receivers from PricewaterhouseCooopers have agreed a deal to allow speedy payment of bills owed to bankrupt Danish fuel supplier OW Bunker.
BDI matches 1986 low Dry cargo rates today matched the lowest level ever recorded by the Baltic Exchange.
Allseas renames Pieter Schelte Allseas Group has proven quick in changing the name of its huge crane ship Pieter Schelte, which caused outrage due to its connection to the Nazi regime.
Polemis buys VLCC Adam Polemis is tipped to have added a second-hand VLCC to the fleet of his New Shipping.
Clarksons: 80s were worse Statistics point to the dry cargo market being in the worst place since the mid-1980s but analysts at Clarksons believe this downturn is not so bleak.
Acta orders support ship Dutch owner Acta Marine has ordered a large new wind farm support ship at compatriot yard CIG Shipbuilding.
KOTC tanker attacked A Kuwaiti tanker has been attacked by pirates en route to Djibouti, but has arrived safely in the East African country.
Capesize scrapping surges Rock bottom bulker rates are pushing capesize bulkers towards the breakers' beaches at a rapid rate.
Heung-A adds tanker South Korea's Heung-A Shipping has snapped up a modern chemical tanker for KRW 27.3bn ($24.91m).
Shell chooses Wartsila Oil major Shell has picked Wartsila for the installation of dual-fuel engines on a specialised LNG bunker vessel currently under construction.
Oaktree ups Capital count Oaktree Capital has seen its stake in Capital Product Partners shrink despite adding more shares in the shipowner.
Ferry battle not over France's MyFerryLink has won permission from the UK court of appeal to try to overturn a ban on its ships operating from Dover.
HPH Trust loses in Q4 Hutchison Port Holdings Trust (HPH Trust) has booked a loss for the fourth quarter of last year due to a one-off goodwill impairment.
Skaugen chases term deals Norway's IM Skaugen is close to agreeing long-term deals for its LNG carriers as it focuses more on western business.
NAT falls short in Q4 Nordic American Tankers edged back into the black in the final three months of 2014 amid continued interest in fleet expansion.
IM Skaugen stretches issue Norwegian shipowner IM Skaugen has clinched a deal to extend its 2012 bond issue in a tough domestic financial market.
Fjord 1 orders double Ada Shipyard in Turkey has won a deal to build two ro-pax ferries for Norway's Fjord 1.
Six more for COSL China's COSL has added six more anchor-handlers to its domestic orderbook.
Tanker demo levels down Tankers sold for demolition in 2014 reached a five year low, figures released by shipbroker Gibson show.
China ports under pressure Chinese ports will continue to face pressure in throughput growth in the next two years, Moody's has warned.
Statoil to cut spending Statoil has said that it will reduce capital expenditure by a further 10% and step-up cost cutting in the face of the weak oil price.
Petrobras picks banker Petrobras has named the boss of one of Brazil's largest state-controlled banks as its new chief executive.
K Line man gets 14 months A second senior executive at K Line faces a term in prison in the US after pleading guilty to price fixing on the ro-ro trade.
India to raise $2 billion in overseas funding for ports Money raised will be invested in 12 major ports throughout the country.
Libya looks to end port strike In hopes of reopening the country's last working onshore export terminal.
Report: Oil imbalance 'eliminated' by 2018 'OPEC could come up with a collective production cut under new circumstances that would right the ship more quickly,' says ESAI Energy.
SOHAR hosts Bunkerworld 'Bunker Lunch' as IP week begins SOHAR Port and Freezone showcases its bunker credentials.
OW in Singapore: Speedier settlement of unpaid bills likely Two main liquidators reach co-operation agreement.
German bank to fund Danish scrubber buy Ferry company gets backing for 20 ships.
'Eco' ferry order goes to Turkish yard To be built to a fuel-efficient design.
Falmouth: Mini bunker boom fizzles out Anecdotal evidence of fuel changeover problems reported.
Wartsila to power Shell LNG bunker tanker Dual-fuel engines scheduled for delivery in 2016.
LNG-powered boxship orders pick up speed Analyst observes growth in orders for the ship-type despite weaker bunker prices.
Chimbusco secures repeat fuel supply contract Exclusive deal was entered via an 'open and fair' tender.
Non-compliant bunker suppliers reported to IMO Sulphur content exceeded the permissible limit, according to IMO document.
Sources: Opet to exit Singapore market by H2 Firm has started closing trading accounts.
'First LNG bunkering op' conducted in North America Local shipowner claims a first in LNG refuelling move.
Firms storing 'record amounts' of fuel at European ports Total of 5.799 million mt of gas and diesel stored in independent storage tanks.
ExxonMobil: MFM deliveries reach 2 million One million mark passed in August last year.
Shipping firm receives new LNG-fuelled PSV for Arctic ops Vessel to begin operations in the Barents Sea this month.
Gazprom sees bunkering as market for its LNG 'Europe will need more LNG to be used in transportation,' says Gazprom official.
Chinese tycoon considers partial sale of HK port assets Li Ka-shing could strike a deal with a consortium of state-owned mainland Chinese firms, says report.
Ferry damaged by bunker barge collision Damages caused ferry to be put out of service for four days.
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