La Quinta dredging completed Port of Corpus Christi is ready to welcome new business following the completion of its $74M La Quinta Channel dredging project. In November 2011, contractor King Fisher Marine Service started extending the channel by about 1.4 miles (2.3km) to a depth of 39 feet (11.9m) using a pipeline dredge,
Marine fuel quality improving, says IBIA Ship bunkers' fuel quality is improving, partly in response to an International Bunker Industry Association (IBIA) campaign targeting the fuel supply chain, says the association. On 9 February, IBIA Chairman Jens Maul Jorgensen said early results for 2015 show a marked improvement in bunker fuel
NSB confirms Panamax widening under way A bold plan to widen Panamax container ships to raise their capacity and extend their trading life is being implemented at a shipyard in China. Ship tracking software AISLive IHS Maritime analysts have identified a box ship that has been in a Chinese shipyard for longer than for a procedure such as
Hafnia acquires four LR1 product tankers Hafnia Tankers has acquired four LR1 vessels as it pursues a strategy of growing its business. The Danish product tanker company expects to take delivery this month of the Artic Char, which came from Brodosplit, and the STX-built Kihada, Maguro, and Karei. All four ships were completed in 2010.
IMO Bangladesh recycling project launches The first phase of a Norwegian-funded IMO recycling project in Bangladesh has finally launched. Originally announced in April 2014, when a memorandum of understanding was signed between the IMO and the government of Bangladesh, 'Safe and Environmentally Sound Ship Recycling in Bangladesh - Phase I'
Adani Ports opens dry bulk terminal Adani Ports & Special Economic Zone (APSEZ), India's biggest private port operator, opened a new 20M-tonne dry bulk terminal today at Tuna Tekra, 40km from Gujarat state's Kandla port. On India's west coast APSEZ also operates three other facilities in Gujarat - at Mundra, Hazira, and Dahej - and
Manson completes Channel Islands Harbor dredging Manson Construction has completed a $13.5M maintenance dredging project at Channel Islands Harbor in California. The dredging contractor used the cutter suction dredger HR Morris to remove "about 2.3M cubic yards [1.8M m3] of material from the entrance and sand traps, placing the material on the
TOG to sell Vina for $8.13M Singapore-listed offshore engineering services provider Technics Oil & Gas (TOG) has agreed to sell Vina to marine services provider Y.H.H Marine Engineering for a total of SGD11M ($8.13M). Vina - formerly known as Vietnam Offshore Fabrication & Engineering - was acquired by TOG subsidiary Technics
South Korea reviews 300 sea safety rules South Korea's Ministry of Oceans and Fisheries is to review about 300 maritime safety rules as the country overhauls procedures in the wake of the Sewol tragedy. The regulations will be re-examined to safeguard against superficial safety checks, the ministry announced on 29 January. On 16 April,
Dry bulk shippers set up Capesize pool Golden Ocean has announced the creation with four other Capesize dry bulk carrier owners of a joint chartering company with at least 220 ships. Capesize Chartering - which combines Bocimar International, C Transport Holding (CTM), Golden Union Shipping, Golden Ocean Group, and Star Bulk Carriers -
Danaos in the red for 2014 after Q4 loss Danaos Corporation has reported a loss both for the final quarter and full year 2014. In the fourth quarter, the group's net loss widened to $51.4M, up from a $4.2M shortfall in the same quarter in 2013, said a statement from the Athens-based and New York-listed container ship tonnage provider.
Falcon closes in on CH Offshore Falcon Energy Group is poised to take over CH Offshore with an improved bid, which has won over a major shareholder and looks set to give it a majority stake. The Singapore-listed offshore services provider stated in a filing to Singapore Exchange (SGX) that it has raised its offer price from
Cosco box ships to have Wärtsilä gensets Five 14,500teu container ships under construction for Cosco Group at Hudong-Zhonghua Shipbuilding will be equipped with 20 Wärtsilä Auxpac 32 generating sets. The gensets will be supplied from mid-2016 by Wärtsilä Yuchai Engine (WYEC) under the joint venture's first order for generating sets,
TOG to dispose Vina for $8.13M Singapore-listed offshore engineering services provider Technics Oil & Gas (TOG) has signed a sales and purchase agreement with marine services provider YHH Marine Engineering for the disposal of Vina for SGD11M ($8.13M). The sale agreement also includes a loan assignment of SGD1M. If the
Thoresen Shipping looks to third-party cargoes Thoresen Shipping, a wholly owned subsidiary of Thai conglomerate Thoresen Thai Agencies (TTA), has outlined third party business as a way to deal with the Baltic Dry Index (BDI) slump. "While a fall in BDI such as this is not that good for us, it does also mean cheaper assets to conduct our third
MODEC posts $45.7M profit Japanese floating oil production systems specialist MODEC said today it posted a JPY5.42Bn ($45.7M) profit for 2014. Its operating profit of JPY8.6Bn was better than its earlier forecast of JPY5Bn. MODEC explained, "Revenue forecast has been revised upward due to engineering, procurement,
Experts say raising Sewol 'possible' A South Korean task force recently concluded that lifting the sunken ferry Sewol would be possible technically, the country's Chosun Ilbo newspaper reported yesterday. The 23-member joint investigation team, consisting of civilian experts in ship, marine science and submergence sectors and
Uni-Asia's fleet expands with new Handysize bulker Singapore-listed tonnage provider Uni-Asia Shipping has grown its fleet to seven ships with the delivery of a newly built Handysize bulker. The company announced that it has taken delivery of a 37,000dwt bulker ordered from Imabari Shipbuilding, adding that the ship has been fixed out to Hong
HHI gains appeal, but uncertainties remain Although positive news flow for South Korean shipbuilder Hyundai HI (HHI) might lead to strong short-covering in the near term, long-term investors are better off bottom fishing, said an analyst in his research note. Han Youngsoo of Samsung Securities said, "Investors are more interested in HHI due
VLGC rates up on Indian demand Stable LPG demand from Indian charterers and subsequent congestion in Indian ports is providing support for VLGC freight rates. As of yesterday, the Baltic Exchange assessed the benchmark Gulf-Asia Pacific rate at $89.875/tonne, up $2 from 6 February. At current bunker prices in Fujairah, that
MISC sets to benefit from tanker and offshore oil storage A brokerage house has forecast Malaysia-listed shipping line MISC to gain better earnings in 2015, thanks to brighter petroleum tanker prospects and its improving rapport with national oil company Petronas. "MISC's 2014 core net profit was in line with our forecast but above consensus. Petroleum
China sets scope for bulk carrier design China has released design scope for 400,000dwt bulk carriers entering its ports. A 5 February circular from Ministry of Transport (MoT) requires bulk carriers calling at Chinese ports to be 362m long, 65.6m wide, 30.5m deep and with a draught of 23m. In addition, the vessels must not exceed a
CSBC expects better profit in 2015 with more delivery Taiwan's largest shipbuilding group China Shipbuilding Corporation (CSBC) stated yesterday that the company expects better profit in 2015 as it is scheduled to deliver more newbuildings. Due to the damage by strong winds at Kaohsiung yard in early 2014, CSBC had to delay the delivery of some
OWB inks recovery pact with KPMG, PWC Singapore-based bunker trading firm OW Bunker Far East (OWB) has inked a deal with liquidators from auditing firm KPMG and receivers from PricewaterhouseCoopers (PWC) for the recovery of assets. The co-operation agreement, signed on 6 February, provides a framework for the collection of all
Mediterranean aframax spot earnings fall $22,000 in a day as fog factor fades Large correction in the market following surge in aframax earnings caused by fog delays
Eurogate reports 4.2% hike in container traffic Healthy growth in Tanger Med, Hamburg and Ust-Luga for German port operator, but Wilhelmshaven continues to disappoint
Five things you need to know about low oil prices Stand-out issues affecting the tanker industry
Hurtigruten delists from Oslo exchange Ferry operator sees last day of trading following takeover by private equity-led joint venture
Asia-Europe carriers speed up ships At least five services on the trade lane have seen speeds increase as shipping lines reconsider slow-steaming levels
US farmers count cost of west coast congestion Agricultural industry losing $1.75bn a month in lost export trade, claims AgTC
Danaos eyes better 2015 after stronger quarter Boxship owner books loss after vessel write-down but reduced costs boost adjusted profit
Offen hire aimed to boost capital market access German owner's new company signs Reederei Nord's Geck-Schlich
'US oil won't be driven out of the market,' says IEA Product tankers continue to reap rewards of US oil production, but crude tankers must wait until the US lifts its ban on crude exports
Note to Korea: Be very afraid At a ship launch in Singapore, a GSI official tells it like it is
Oakland warns of two-month backlog as cargo piles up Between 10 and 12 ships a day are waiting to berth in Oakland marine terminals
Five bulk powerhouses to consolidate cape chartering Update: Initial spot fleet of about 80 capes equates to 5% of fleet but could grow in future
Seeking clarity on shifting tides of oil and tankers Interest is clearly building on what's next for global markets
Last chance saloon for badly packed and secured containers The Global Shippers' Forum welcomes a new code of practice for the packing of cargo transport units
View from the Bridge: Jorge Quijano Panama Canal administrator expects to welcome the first commercial vessel into the canal's new locks at the start of next year
PMA, ILWU fight for union rank-and-file's hearts, minds, pocketbooks A photo taken Saturday, Feb. 6, 2015, at LB 94 and LBCT by a team of longshore workers - Pilot Rollo Hartstrom from Local 13 and photographer Bill Kirk from Local 94 - shows space available at the marine terminals to accommodate containers, the union says.Waterfront employers and the International Longshore...
Port of NY-NJ plans expansion of clean-trucks program The Port Authority of New York and New Jersey will launch the next phase of its clean-trucks program in mid-March, and hopes to secure funding to replace more than 1,800 additional older trucks with newer models during the next three years. About 80 trucks with engines dating to 2006 or earlier...
US Congress shines light on West Coast port woes but has limited sway WASHINGTON - The U.S. Congress on Tuesday shone a rare light on growing West Coast port congestion, but despite legislators' concern that American exports are losing market share as a result, there's little they can do currently but do what many others have already done many times: urge dockworks and...
Cass Freight Index reveals underlying strength in US freight market Freight shipments and spending in the U.S. dropped in January from December, but still struck record highs for the first month of the year, the Cass Freight Index shows. The number of U.S. freight shipments fell 4.7 percent from December but was still 2.7 percent higher than in January 2013, when...
Long Beach board reaffirms green port commitment The Port of Long Beach Monday celebrated the 10th anniversary of its Green Port Policy, a program that has significantly reduced pollution affecting the air, water, soil, wildlife and neighboring communities. The Long Beach Board of Harbor Commissioners also adopted a resolution reaffirming the port's commitment to the plan and its...
NJ lawmakers advance bill to dissolve Waterfront Commission New Jersey legislators have moved a step closer to passing a bill to dissolve the bistate Waterfront Commission of New York Harbor and transfer its New Jersey operations to the state police. The state Assembly's Appropriations Committee voted without objection last week to approve the companion to a Senate-passed bill. If...
Trucking doubles down on hiring, but labor shortages persist Steady job gains have brought the U.S. trucking industry close to pre-recession peak employment levels, but that level isn't high enough to eliminate a tenacious driver shortage. For-hire trucking companies in the U.S. added about 2,400 jobs in January, a 3.5 percent year-over-year increase, as U.S. employers added 257,000 workers to...
DHL launches weekly India-Germany LCL operation DHL Global Forwarding has launched a new weekly less-than-containerload service from Tuticorin, India, to Hamburg, Germany, as the Deutsche Post DHL Group unit aims to cater to the growing needs of small to medium-sized enterprises in the southern region. In a written statement, the logistics provider said the direct service would...
Japan and Mongolia sign free trade agreement After three years of negotiations, Japan and Mongolia have signed a free trade agreement, paving the way for the trade pact to take effect later this year or early in 2016. The FTA, officially called the Japan-Mongolia Economic Partnership Agreement, was signed in Tokyo Tuesday by Japanese Prime Minister Shinzo Abe...
Container, general cargo volumes jump at Khalifa Port Khalifa Port Container Terminal's 2014 container volume rose 26 percent year-over-year, according to figures released by port operator Abu Dhabi Ports Co. KPCT, which began commercial operations in September 2012, handled 1.14 million TEUs last year, up from 901,722 TEUs in 2013. Bulk and general cargo at Khalifa Port totaled 12.8 million...
Spanish airports operator Anea to launch IPO Wednesday Spain's state-owned airports operator Anea will make its debut on the Madrid Stock Exchange Wednesday in the country's biggest initial public offering since 1997. The IPO, which has been more than five times oversubscribed, has been priced at the top end of forecasts and will value the world's biggest airport group,...
Danaos' healthy profit reflects improving container ship market Danaos Corp.'s most recent earnings highlighted an improving container ship charter market as the Greek ship-owner posted a 56 percent increase in adjusted net income in the fourth quarter of 2014. The NYSE-listed company increased adjusted net income to $23.4 million from $15 million in the final quarter of 2013. Revenue shrank,...
Shanghai port steams ahead as China's economy slows HONG KONG - A weakening Chinese economy in January was not enough to hold back Shanghai's container volumes as the busiest port in the country handled 3.16 million 20-foot containers during the month, a year-over-year increase of 5.3 percent. The Shanghai International Port Group (SIPG) figures reflected solid growth in...
Wider network lifts Abu Dhabi terminal volumes by 26 percent HONG KONG - Annual throughput at Khalifa Port Container Terminal (KPCT) soared past 1 million TEUs in 2014 as an expanded international network helped the Abu Dhabi Ports facility grow its volumes by more than 26 percent over the previous year. It is the fifth straight year that the United Arab...
Big ships mean big investment in China's oversupplied port capacity, Moody's says Core ports in the three prosperous economic regions account for 40 percent of China's GDP - Pearl River Delta, Yangtze River Delta, and Bohai Rim.HONG KONG - China's ports are facing an excess of capacity, but the new generation of mega container ships means significant investment will still need...
LA-LB imports down by 25 percent in January, PIERS data shows Loaded imports through the Los Angeles-Long Beach port complex fell by a quarter last month compared to the same period a year ago, reflecting the severity of pain congestion has inflicted on the largest container gateway in the Americas. The data from PIERS, a sister company of JOC.com within IHS Maritime...
Hanjin ship sits for four days as Portland dockworkers refuse to work it Longshoremen in Portland refused to work on Monday, making it four days in a row that a Hanjin Shipping Co. vessel has been sitting idle at the Pacific Northwest port's only container terminal. International Longshore and Warehouse Union Local 8 on Friday notified ICTSI, operator of Terminal 6, that it would...
Scandal draws in yards Bribery allegations have emerged against five Brazilian and Singaporean yard groups in the billowing Petrobras corruption scandal.
Rebound on the horizon? A growing number of Wall Street equity analysts believe turbulence in the dry-bulk market will be worse than previously expected in the first-half of 2015.
US yard eyes order It appears that Vigor Industrial of the US is closing in on a contract to construct a barge equipped to transport and store anhydrous ammonia.
Cape panic plagues SBLK Star Bulk Carriers made waves today when it emerged as a participant in a chartering alliance backed by some of the industry's brightest stars but the revelation received a lukewarm reception on Wall Street.
Arntzen nets $2m from OSG Morten Arntzen is set to pick up a cheque worth over $2m after settling a dispute with Overseas Shipholding Group.
Sino-Global ends losing run Aspiring shipowner Sino-Global Shipping America claims to have logged its first profitable year since going public six years ago.
Oman tests Iran run A ferry from Oman has docked in Iran as a prelude to a potential permanent service.
Owners catch a break An Indian court has ruled that income from boxship owners' slot-charter deals cannot be excluded from the country's tonnage tax.
Hafnia snaps up quartet Danish owner Hafnia Tankers is building its LR1 fleet through a deal to buy four modern tankers from Prime Marine Management of Greece.
Scorpio fixes again New York-listed Scorpio Tankers has chartered out two more newly delivered ships as its fleet continues to expand.
Pirate attacks up 26% Maritime crime has increased by more than one fourth in 2014 reaching its highest level since 2011.
Can pool make a splash? A new chartering venture between five leading capesize owners lacks the size to drive up rates significantly, RS Platou Markets says.
Kenya seeks ship Kenya is looking at ways to fund a ship purchase to boost regional trade.
Offen's new man German owner Claus-Peter Offen has appointed Christoph Geck-Schlich as chief investment officer (CIO) of the company's investment division.
Greek bulker master dies An Eastern Mediterranean Maritime captain has died on a bulker at anchorage off South Africa.
Chinese coup for Wartsila Finland's Wartsila has won its first order for generating sets in China since the establishment of its joint venture with Yuchai Marine Power at the end of 2012.
Fisher makes subsea move UK shipowner James Fisher has bought the National Hyperbaric Centre in Aberdeen to broaden its subsea services.
Vopak sells US terminals Royal Vopak has sold three of its US terminals and a plot of land to an energy infrastructure company for $158m.
'Consolidation is the future' Herman Billung proclaimed consolidation the way forward for the capesize market as the Golden Ocean chief executive expressed his delight at the formation of a new chartering venture today.
Dof wins deal extension Statoil has exercised the first of its one-year options to lengthen the charter of a Dof anchor-handler.
Giants launch capesize pact Five of the world's largest capesize owners have joined forces to form a new chartering agreement.
Pertamina on the hunt Indonesian state group Pertamina is looking to add 26 ships to its tanker and gas carrier fleets.
NITC loses court battle A UK court has rejected Iranian tanker owner NITC's bid to stop the European Union (EU) from re-imposing sanctions.
Cammell Laird wins ro-pax Cammell Laird shipyard has secured a new ferry contract with the Northern Ireland government.
Battle of the billionaires Chinese billionaire Tong Jinquan has emerged as a significant shareholder in John Fredriken offshore company Seadrill.
Drewry warns over tankers A steep rise in vessel orders risks bringing the recent bonanza in oil tanker shipping to an abrupt end, Drewry has warned.
Writedown dents TDW Tidewater has sreported a third quarter loss due to goodwill impairment charge of $284m related to the collapse in oil prices.
Falcon gains control Falcon Energy Group appears to have won control of CH Offshore after cutting a deal with its second largest shareholder.
Danaos ends on high Danaos Corp has ended 2014 on a high with a 56% jump in adjusted net income, in fourth quarter figures released late Monday.
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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