APMT buys biggest reefer terminal in the Mediterranean APM Terminals has bought Vado Ligure reefer terminal on Italy's Ligurian coast - the largest refrigerated terminal in the Mediterranean. Purchased from owner Reefer Terminal as part of a port of Vado masterplan to create new supply chains to markets in northern Italy, southern France, Switzerland
Ships take shelter from typhoon in Yangtze River Delta Thousands of ships in the Yangtze River Delta took shelter from Typhoon Soudelor as it approached East China on 10 August. Local authorities have issued a grade IV emergency response to areas affected by Soudelor, which has so far left 12 people dead and another five missing in East China's
Nordic American reports improved interims Nordic American Tankers (NAT), a US listed Suezmax operator that is managed from Norway, has reported a much improved result for both the second quarter and first half of 2015 compared with the same periods a year earlier. In the second quarter of 2015, the group made net profits of USD30.9 million
Philly Tankers sells four newbuilding contracts for USD568 million Philly Tankers, a company set up in 2014 and controlled by Aker Philadelphia Shipyard, has sold four newbuilding contracts, each concerning a 50,000 dwt product tanker, for a total of USD568 million to Kinder Morgan. "The vessels will be constructed by Aker Philadelphia Shipyard, Inc. and are
Hutchison Australia denies further automation plans On Saturday Hutchison Ports Australia (HPA) denied claims they were slashing their workforce to bring in more automation, saying the cutbacks were due to financial losses. Chief Financial Officer Chee Keong Chan issued a media statement saying the decision was a difficult one, but followed the
Wisdom Marine improves profits Taipei-listed bulk carrier Wisdom Marine posted profits of TWD1.22 billion (USD39 million) for the January-July period, an increase of 30.34% on a year ago. The company's recorded revenue for the same period was TWD6.2 billion, up 18.11% on a year ago. Its July revenue stood at TWD931.5 million,
OOIL's profits up 32% y/y in 1H15 Orient Overseas (International) (OOIL), the parent company of Orient Overseas Container Line (OOCL), said its profits had risen 32% year on year (y/y) to USD238.6 million in the first six months of 2015, due to lower bunker fuel costs. Revenues fell 6% y/y to USD3.0 billion during the same period,
DryShips sees banks as key in tough months ahead Owner has 'not restructured a single loan'
Marmaras buys Lauritzen's last cape for $37m Greek owner ramps up bulker acquisitions but 'issues' delay newbuilding deliveries
Evergreen orders 2,800 teu series Taiwan line forecasting boost to intra-Asia cargo following regional trade agreement
Suez versus Panama battle heats up in Asia-US trades Exclusive: Data compiled by the TSA shows that Suez Canal is gaining market share as service patterns change
ICTSI reports flat net income for the second quarter Result is weighed down by one-off tax expenses in Pakistan and Colombia
OSG confident of generating cash US-listed bankruptcy survivor revels in buoyant tanker market for both its international and Jones Act fleet
Nordic American Tankers climbs to $31m profit New York-listed suezmax tanker player trebles daily vessel earnings
OOIL posts better first-half earnings on lower bunker costs But chairman CC Tung expects freight rates to stay low till next year due to oversupply
Philly Tankers sells four newbuilds for $568m Tankers scheduled to be delivered from yard in 2016 and 2017
Port Said terminal to become Med's biggest box hub SCCT's capacity to increase to 5.4m teu with addition of four quay cranes
Auckland turns to automation to facilitate growth But up to 50 jobs on the line as New Zealand port explores option of adding automated straddle carriers to its container yard
Crowley wins contract to manage six MSC Ships JACKSONVILLE, Fla. - Crowley Maritime Corp.'s global ship management group continues the support work it is providing the U.S. Government with the announcement today of a new technical management contract for six Military Sealift Command (MSC) Maritime Prepositioning Ships (MPS). Services provided by Crowley will be full turnkey operation and...
Peel Ports unveils virtual crane at Port of Liverpool In anticipation of the arrival of five of the world's largest cranes at the Port of Liverpool in the autumn, Peel Ports has introduced a state-of-the-art 'virtual' training simulator on site, designed to ensure all operators are ready to manoeuvre the giant structures from Day One of installation. Peel Ports has...
MARAD celebrates ribbon cutting for Port of Brownsville BROWNSVILLE, Texas - Maritime Administrator Paul 'Chip' Jaenichen today joined state and local officials in a ribbon-cutting ceremony to celebrate the completion of a marine cargo dock at the Port of Brownsville. The $27.5 million project, of which $12 million was provided by the U.S. Department of Transportation (DOT) through...
Acquisition expands Daseke's Alabama footprint Chris Hornady, president of Hornady Transportation.Daseke kicked its expansion plans into an even higher gear after acquiring Hornady Transportation, giving the fast-growing truck company a greater flatbed presence in Alabama. Daseke, the fastest-growing trucking company by revenue, will gain a new Birmingham, Alabama terminal, along with its 230 late-model tractors and...
Ro-ro outlook brightens on slower fleet expansion, high demand The outlook in the car carrier sector appears to be brightening as slower fleet growth, rising vehicle production and demand from countries like China and India have led to better vessel utilization, according to shipping analysts at DNB Markets in Oslo. "Based upon our proprietary car market model we expect only...
Insurer claims inside job, seeks $42 million for warehouse heist A lawsuit claiming that the largest pharmaceutical theft in U.S. history was an inside job at a shipper's warehouse has been set for trial Oct. 9 in Miami. National Union Fire Insurance Co. is seeking $42 million from ADT Security Services, which provided security for Eli Lilly & Co.'s Enfield, Connecticut,...
Silting reduces Mississippi River draft to 45 feet The maximum draft of ships entering and leaving the Mississippi River has been reduced to 45 feet from 47 feet because of heavy silting caused by extended high water levels upstream. The draft restrictions, which primarily affect bulk carriers and tankers, were announced by the Associated Branch Pilots, whose members guide...
OOCL profits rocket on cheaper fuel and cost savings HONG KONG - OOCL, the core liner business of Orient Overseas (International) Ltd, became the latest container carrier to report a first half profit based on significant cost savings across its global network. Despite record low freight rates in the second quarter and chronic overcapacity in the Asia-Europe trade, acting CFO...
Adani Ports profit jumps on Jawaharlal Nehru diversions Adani Ports and Special Economic Zone posted a 13 percent increase in net earnings in the first fiscal quarter on the back of strong cargo gains, due in part to Jawaharlal Nehru Port traffic diversions. India's largest private port infrastructure developer earned Rs. 641 crore (approximately $101 million) in the three...
Union picketing disrupts Hutchison's Sydney, Brisbane terminals Picketers at Port Botany. Credit: @MaritimeUnionAUUnion picketing is disrupting operations at Hutchison Ports Australia's terminals in Sydney and Brisbane, even after the terminal operator denied accusations that it slashed workers at its facilities to bring in more automation. Because of picketing, the terminal reportedly failed to load the 777 twenty-foot-equivalent unit...
El Nino forces Panama Canal to restrict draft The Panama Canal Authority plans a temporary half-foot reduction in maximum drafts of ships passing through the waterway, and said an additional reduction may be ordered if rainfall stays below normal levels. The draft reductions are due to the El Nino weather pattern, which reduces rainfall in the canal watershed and...
OOCL profits jump 32 percent on cheaper fuel and cost savings HONG KONG - OOCL, the core liner business of Orient Overseas (International) Ltd, became the latest container carrier to report a first half profit based on significant cost savings across its global network. Despite record low freight rates in the second quarter and chronic overcapacity in the Asia-Europe trade, acting CFO...
Trans-Atlantic rates lose luster as capacity surges LONDON - The trans-Atlantic bull-run has hit a glitch as a "huge" injection of capacity on the route since May has outpaced the growth in demand, "bringing a predictable outcome" for freight rates, Drewry Maritime Research said. "Our previous assessment of the trans-Atlantic trade appears to have been too bullish," according...
Hong Kong seaman killed during container loading operation Mid-stream operations near Hong Kong's Lamma island.HONG KONG - The Hong Kong Marine Department has issued a safety notice following the death of a seaman who was killed when a stack of containers tumbled over during a mid-stream offloading operation recently. A notice on the Marine Department website said the accident...
Mumbai port shippers hit with surcharges from terminal closure Trucks lined up outside JNPT. Ocean carriers have begun levying surcharges on Jawaharlal Nehru Port Trust cargo to compensate for operational cost increases caused by the prolonged shutdown of APM Terminals-operated Gateway Terminals India, even as JNPT maintains it is taking all the necessary steps to mitigate supply chain disruptions at...
Major Indian ports reverse volume decline Port of CochinIndia's major public ports boosted container volumes by nearly 5 percent in July from a year earlier, helping the ports recover from a year-over-year decline of 1.5 percent in throughput recorded last month, according to the latest provisional port statistics compiled by JOC.com. The number of export and import...
More Santos terminals tap intermodal rail to stay competitive Port of Santos Following rapidly in the wake of the launch of weekly containerized rail service for a rival Santos port terminal, Grupo Libra has gained its own service with rail operator MRS Logistica to serve its two right bank terminals. The containerized rail, also known as intermodal, services connecting to Libra...
Slowing Asia-Europe trade hangs over Suez Canal projections HONG KONG - Suez Canal Authority projections that average daily vessel transits will double by 2023 to 97 vessels and more than double revenue to $13.2 billion within 10 years are unlikely, according to the latest analysis by Drewry.In its Container Insight Weekly, the London-based analyst noted that for the...
Flat first half for ICTSI even as volumes, revenue rises ICTSI's flagship, Manila International Container Terminal.HONG KONG - International Container Terminal Services Inc (ICTSI) boosted its throughput and revenue in the first half, but various one-time gains and charges from its global operations saw net profit decline by 1 percent to $100.4 million.Without the one-off expenses - including wealth taxes...
OOCL profits jump 32 percent on cheaper fuel and cost savings Alan Tung, OOIL's acting CFO, delivers the group's half-year results at its Hong Kong headquarters.HONG KONG - OOCL, the core liner business of Orient Overseas (International) Ltd, became the latest container carrier to report a first half profit based on significant cost savings across its global network.Despite record low freight...
Crowley to manage sextet Crowley Maritime has won a contract to provide technical management for six US military cargoships.
VLCCs continue to plummet Rates for large crude tankers continued to plunge by thousands of dollars per day Monday, pushing VLCC spot market earnings to the lowest level in more than four months.
Carnival bolsters Asia team Cruiseship owner names AIDA president Michael Ungerer as chief operations officers in Asia.
No recovery yet Difficulties in the dry cargo market will need another year and a half to iron out, DryShips says.
Mega-merger, minor impact A mega-merger of Cosco and China Shipping would not have a tangible impact on the container market, analysts at DNB Markets say.
Vintage value John Fredriksen's sale of a vintage suezmax tanker has provided further evidence of strong prices for older crude assets but some suggest tanker prices are nearing a peak.
OSG turns profit Overseas Shipholding Group (OSG) has returned to profit in the second quarter thanks to a strong tanker market.
Panama lowers draft limit Almost one-fifth of traffic through the Panama Canal could be impacted by temporary draft restrictions in response to the El Nino effect.
Honghua confirms LNG deal Honghua Group has confirmed media reports over a 200-vessel order from LNG Power Shipping.
DSME clearing the decks DSME has revealed plans for a raft of asset sales as it seeks to bolster its balance sheet.
Dof in AHTS deal Dof Subsea has clinched its second deal in August which will see one of its Asia Pacific anchor handling tug supply vessels (AHTS) move to South America.
Evergreen takes 10 more Evergreen Marine has booked a series of 10 feedership newbuildings in Taiwan.
NAT in strong Q2 Nordic American Tankers swung back into the black in the second quarter with a stronger than forecast profit.
OOCL profit up Orient Overseas Container Line (OOCL) has recorded an improved first half profit.
Rokke's S&P success Kristian Rokke's Philly Tankers has pulled off a swift profit on the sale of four newbuildings to Kinder Morgan.
Houston we have a problem Houston's Bayport Cruise Terminal has a problem. Its two cruise tenants Princess and NCL have both announced that they won't be coming back.
GulfNav settles with NAT Dubai-based Gulf Navigation Holdings will issue mandatory convertible bonds to the tune of AED 37.34m ($10.16m) in an agreement struck with Nordic American Tankers to cover debts stemming from a 2014 arbitration award.
Malacca Strait hijack Pirates have made off with at least a part cargo of oil after a Singaporean products tanker was hijacked on Saturday.
More detail on increase in distillate off-specs Most of the off-spec distillates tested were ECA-compliant fuels amid 'significant' increase in samples.
Lower bunker costs help offset slump in freight rates OOIL says revenue levels in some trade lanes reached 'new post-Global Financial Crisis lows'.
Lukoil exits Singapore supply market Development leaves port with 59 licensed suppliers.
Lukoil exits Singapore market Development leaves port with 59 licensed suppliers.
'Reroute to Irish Sea for fuel savings', suggests ferry manager Area falls outside ECA meaning less stringent sulphur limit.
Singapore-flagged tanker robbed of fuel oil cargo Vessel went missing for a day in the Malacca Strait.
Sentek grows Singapore bunker operations Company adds bunkering barge to fleet.
Samudera posts lower Q2 profit despite lower bunker costs Says going forward lower fuel prices 'should help to mitigate the impact'.
Seoul-based bunker trading firm expands Panoco Korea hires two bunker traders.
Iran repeats goal of 50% share of regional bunker market Iran has set up its own bunker industry association.
Gazpromneft Marine Bunker's fuel sales up 3% in H1 To 1.57 million metric tonnes (mt).
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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