Hanjin leaving Portland Oregon's largest container carrier, Portland, is leaving the US Pacific Northwest port amid a bitter labour dispute between the terminal and dockworkers. Hanjin Shipping notified the Port of Portland and terminal operator ICTSI Oregon on 10 February that as of 9 March it will cease direct calls at
Aberdeen launches code to protect dolphins Europe's principal marine support centre for the energy sector in the North Sea and Atlantic Margin, Aberdeen Harbour has today launched a vessel Code of Practice to protect bottlenose and other dolphins that live and feed by the harbour mouth. To be widely distributed to vessel owners, port users,
African migrants perish in rubber boats Up to 300 African migrants are feared to have drowned after their small boats were overcome by heavy seas. Nine people were rescued and brought by an Italian tug to the Italian island of Lampedusa this morning. They were the only survivors plucked from two rubber boats that had departed from a
Euronav cuts losses, predicts market recovery Euronav, the Antwerp-based VLCC and Suezmax owner, has cut both its final quarter and full year 2014 loss. It forecasts continued market recovery on improving supply-demand balance. Group net loss in 4Q14 narrowed to $3.9M from $23.3M in the same period last year, while revenues increased to
Specialised reefers back in the game Containerisation of perishable cargoes seems to have hit a snag - at least temporarily - as the slump in bunker prices makes conventional reefer ships more competitive again. According to shipbrokers, a number of freight programmes by fruit shippers has been moved back from container lines to
Golden Ocean to decide on Knightsbridge merger Golden Ocean Group, John Fredriksen's dry bulk shipping venture, is seeking to delist its shares in Singapore and called an EGM to decide on a plan to merge with Knightsbridge Shipping. "Golden Ocean has today submitted a delisting announcement on the Singapore Stock Exchange for the delisting of
Vessel delays increase at Oakland Port congestion pushing southern California ports close to gridlock has stretched up the coast to the Port of Oakland. America's fifth busiest container port revealed on 9 February that 10 to 12 vessels per day are waiting for berth space at its marine terminals. In addition, vessels are arriving
Coastguard officer jailed over Sewol disaster A South Korean Coast Guard commander has been jailed four years for botching rescue efforts during the Sewol ferry tragedy. A Gwangju court convicted Kim Kyung-il of professional negligence. Kim's vessel was the first to arrive at the scene when the Sewol capsized on the morning of 16 April last
Tanjung Offshore suspends three officials Malaysia-listed offshore services company, Tanjung Offshore (Tanjung), has suspended three of its officials due to the possible conflicts of interest and breaches of fiduciary duties. According to Tanjung Offshore's filing to Bursa Malaysia, two of its directors had approached French offshore
Keppel, Sembcorp Marine rebut Petrobras graft claims Singapore-listed marine, property and infrastructure company Keppel has refuted bribery allegations involving Brazilian oil giant Petrobras. Keppel stated in its filing to Singapore Exchange (SGX) that the company has a "code of conduct which prohibits, among others, bribery and corruption". The
Wanhai foresees glut lasting in 2015 Global shipping capacity will increase by 7.8% in 2015, 2.4% more than the demand, Wan Hai Lines chairman Chen Bo-ting said at the carrier's 50th anniversary. With the gap between supply and demand bigger than 2014, the glut will be worse in 2015, said Chen. Every drop of $10/barrel in oil prices
Changhang Phoenix raises $11.9M Changhang Phoenix, a bulk-carrier operating unit of Sinotrans & CSC, has raised a total of CNY73.7M ($11.9M) after its receiver sold 17.6M shares in the company. The deal was completed at CNY4.10 per share on 6 February, a statement of Changhang Phoenix said today. The proceeds gained from the
China's imports of non-ferrous metals fall China's imports of non-ferrous metals fell 30.6% year on year to 124M tonnes in 2014, due to lower domestic demand and slowing economic growth. For nickel ores, the imports dropped 32.9% y/y to 47.8M tonnes, according to customs statistics. The imports of bauxite also plunged 48.4% y/y to 36.2M
DP World to build third berth at London Gateway New 400 m quay to open in second half of 2016
Cape crusaders are true believers in consolidation Despite a muted response to Capesize Chartering, the new collective of five major owners may have the right chemistry to grow
Europeans could blink first on shipping debt price gap Plummeting BDI and regulatory pressure will eventually force discount, bankers believe
Hanjin pulls the plug on Portland South Korean carrier informs customers that it will drop its weekly service next month
Navios Acquisition returns to profit Most tankers fixed out for 2015 but 76% of fleet will benefit from market upturn
VLCCs put in performance push before second-quarter lull Around $10,000 added to daily earnings in a week as VLCCs make hay while the sun shines
Wärtsilä to supply 90 dual-fuel engines for 15 Yamal LNG carriers Vessels on order at DSME for year-round Arctic operation
Middle Eastern port projects to be matched by demand DP World believes volume growth levels will be sufficient to equal the planned port expansion
India's ports to face overcapacity challenge Overcapacity in the Indian port industry will continue in the short term, but strong volume growth will help in the longer term
Sohar completes Muscat volume transfer Oman's Port of Sohar sees strong volume increase as commercial activities are transferred from Muscat
Western Bulk hit by low freight rates and falling fuel prices Oslo-listed operator suffers bad 2014 fourth quarter but says it is well positioned for 2015
Euronav slashes losses to $3.9m Crude tanker player improves results on better tanker market fundamentals
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
Colombo gears up for growth A look at recent developments at the Port of Colombo and its future challenges
Data Hub: Load Factors US west coast congestion hits utilisation levels
India sees iron ore glut as taxes and low prices take effect Australian miners and capesize owners may benefit from collapse in Indian iron ore production and exportation
PMA to halt ship work on four of next five days The Pacific Maritime Association said its members will suspend U.S. West Coast vessel operations on four of the next five days rather than provide longshoremen with holiday or weekend pay for "severely diminished productivity." Vessel operations by the International Longshore and Warehouse Union will be suspended coastwide on Thursday (Lincoln's Birthday),...
Virginia's container volume a record for month of January The Port of Virginia last month posted its highest January container volume, handling 191,996 loaded and empty 20-foot-equivalent units, a 15 percent year-over-year increase. Virginia posted a 22 percent gain in rail containers, a 17 percent jump in barge cargo, and a 12 percent increase in truck volume. "January delivered continued strong...
More signs of West Coast port woes spurring cargo shift to opposite coast When U.S. West Coast port congestion clears, there are increasing signs that shippers' frustrations with shipment delays of weeks will spur them to permanently re-route freight through the East Coast, much like they did in 2002 following a 10-day marine terminal lockout. "There a great deal of analysis going on within...
Maersk container ships again making calls at New Orleans A weekend call by the Maersk Kotba on the North Europe service of Maersk Line's 2M operation with Mediterranean Shipping Co. is the first call by the Danish carrier's ships in New Orleans in three years. "We're thrilled to welcome back Maersk vessels to New Orleans," Port President and CEO Gary...
Virginia port publishes weekly truck turn times The Port of Virginia has begun posting weekly statistics for truck turn times and container dwell times at its terminals, something drayage operators have been clamoring for at other U.S. ports. "We've been asked by our stakeholders to provide these kinds of numbers," port spokesman Joseph D. Harris said. "This is...
XPO taps last-mile logistics growth as Descartes predicts 'breakout' year Last-mile logistics is fast becoming the first priority of many retail shippers, as the rapid expansion of online shopping underscores changing consumer behavior. "If you go back five, ten years ago, nobody ordered a refrigerator online," Bradley S. Jacobs, chairman and CEO of XPO Logistics, said. "Today, it's the first place...
No winners in West Coast dispute Has the ILWU been tamed? We asked that question in an October 2003 commentary, a year after the 10-day lockout that cost the U.S. economy billions of dollars and in the aftermath of a series of slowdowns and vandalism that summer over new technology at the TraPac terminal in Los...
Addressing allegations of bias Over the past few weeks, our coverage of the West Coast labor standoff on JOC.com has come under a barrage of criticism from members of the International Longshore and Warehouse Union and their supporters. In comments posted on JOC.com stories, in tweets and e-mails, we stand accused of bias against...
Demand for sweeper ships due to West Coast gridlock drives charter rates higher Demand for extra ships tied to the U.S. West Coast longshore labor showdown is driving up charter rates for certain classes of container ships. Panamax tonnage received another boost in charter pricing as "more ships were plucked from the market as extra sailers (also called sweeper ships) for the Asia/US trade,"...
Container lines losing cargo to specialized reefer ships amid slump in bunker prices Containerization of perishable cargoes seems to have hit a snag - at least temporarily - as the slump in bunker prices makes conventional reefer ships more competitive again. According to ship brokers, a number of freight programs by fruit shippers has been moved back from container lines to specialized reefers in the early...
Report sees cargo growth, shift from West Coast February imports through top U.S. container gateways are expected to rise 10.1 percent year-over-year despite West Coast congestion that has stalled shipments and shifted cargo to the East Coast, according to the monthly Global Port Tracker. "East Coast ports have been the beneficiaries of the labor disputes on the West Coast,"...
Japan's farm export drive produces record high Japan's energetic farm-export drive is bearing fruit, as the country's overseas shipments of agricultural, fishery and forestry products mushroomed 11.1 percent in 2014 from the previous year to a record high of 611.7 billion yen (US $5.14 billion). Riding high on the popularity of Japanese cuisine overseas and helped by a...
CMA CGM shippers soon to be able to track cargo, conditions in real-time CMA CGM is equipping its containers with an innovative real-time data monitoring system that will enable the carrier and its customers to keep track of the location and specific conditions of their cargoes. The world's third largest carrier has contributed to a capital increase of the French start-up Traxens, the developer...
Rotterdam claims top Chinese trade gateway spot over Hamburg Rotterdam claims it is the first European port to handle over 3 million TEUs of traffic to and from China and is set to extend its lead over second ranked Hamburg in 2015. The Dutch port said it trailed Hamburg up to 2008, handling 2.2 million TEUs of "China containers" compared...
CP intermodal shippers face reduced service if union strikes Canadian intermodal shippers could see a reduction in Canadian Pacific Railway service if a union representing 3,300 locomotive engineers, conductors and train workers follow through with their threat to strike later this week if the railroad doesn't meet their contract demands. Teamsters Canada Rail Conference-Running Trades on Tuesday gave the railroad...
Shreyas swings to black on shipping activity growth Shreyas Shipping and Logistics rebounded to a Rs. 22.4 crore (US $3.6 million) net profit in the third fiscal quarter from a net loss of about $468,000 in the same period in 2013, driven by a significant growth in the shipping activity that has helped the company become a pan-India...
DHL moves into new Shanghai cold chain warehouse HONG KONG - DHL Global Forwarding has opened its new Shanghai warehouse with an $18 million investment in 17,200 square feet of cold storage facilities for life sciences and healthcare customers.The new Shanghai air freight logistics center has been developed on the site of the existing DHL facility within the...
Don't fear the regulator Executives of three shipowners expressed a mostly unconcerned attitude about new regulations facing the industry as they spoke at a New York conference today.
Buyer beware The chief operating officer of Scorpio Tankers and Scorpio Bulkers is urging owners to proceed with caution when placing orders at shipyards that offer refund guarantees.
Aker Philly's open mind Aker Philadelphia Shipyard has focused on the pursuit of tanker and containership orders in recent years but this could change at some point in the future.
Schettino guilty of manslaughter Costa Concordia captain Francesco Schettino has been found guilty of manslaughter.
Goldman buys $50m Capital slice Goldman Sachs Asset Management has emerged as a major investor in Capital Product Partners with a stake worth over $50m.
Goodfaith crew safe All 22 crew aboard the grounded bulker Goodfaith, which hit rocks off the Greek island of Andros late last night, have been rescued, but pollution has been reported at the scene.
Knightsbridge funds 14 capes Rock bottom spot rates have not prevented John Fredriksen's Knightsbridge Shipping from securing financing for a series of capesize newbuildings.
Schettino's final plea Costa Concordia captain Francesco Schettino has made an emotional plea for mercy ahead of the verdict in his manslaughter trial.
BDI hits lowest mark ever The Baltic Exchange's main shipping index today sank to its lowest ever reading.
Navios cancels MR duo Navios Maritime Acquisition Corporation (NNA) has torn up contracts for two newbuildings due to the yard's finance problems.
NNA finishes strongly Greece's Navios Maritime Acquisition Corporation (NNA) has returned to profit in the fourth quarter, lifting its annual result into the black.
CMA CGM funds start-up Container line CMA CGM has contributed to the capital increase of a French start-up focused on efficient cargo-monitoring.
SSC makes $1m more Singapore Shipping Corp (SSC) has increased its quarterly profit between October and December 2014 by $1m.
TNG to move quickly Newly listed Tankerska New Generation (TNG) could add to its products fleet as soon as April.
Marco Polo doubles profit Marco Polo Marine (MPM) has almost doubled its profit for the first quarter of its financial year despite a 12% revenue drop.
Shreyas turns it round Shreyas Shipping & Logistics has turned around last year's loss to post a profit in the third quarter.
ISH ends 2014 in red International Shipholding Corp (ISH) has taken a hit from a non-cash impairment during the fourth quarter but still managed to declare a dividend.
Old ships wanted The government of Canada is keen for shipyards to examine the potential in scrapping vessels domestically.
Four VLCCs for CSDC China Shipping Development Co (CSDC) is spending $375.9m on four new VLCCs.
Euronav red but ahead Euronav booked a small loss in the fourth quarter but its red ink did not run as deep as analysts had feared.
Golden Ocean quits SGX John Fredriksen's Golden Ocean is to drop its Singapore listing next month due to its impending merger with sister outfit Knightsbridge Shipping.
Bulker runs aground The Cypriot-flagged bulker Goodfaith (built 1984) has run aground off the Greek island of Andros in heavy weather and its crew was being evacuated, the Greek coastguard said.
Western Bulk in cash cover Western Bulk has moved to boost its cash position in a loss-making dry cargo market.
Glovis kicks off deal South Korea's Hyundai Glovis has clinched a $100m shipping contract with a construction materials company in Qatar.
Coastguard master jailed A South Korean coastguard officer has been sentenced to four years in jail for negligence during the rescue operation that followed the sinking of the Sewol last year.
Britoil eyes Africa Singapore's Britoil Offshore Services is in talks to build vessels for Slok Shipping of Nigeria.
Otto in profit warning Otto Marine said it expects to post a loss for the last financial year, according to a disclosure from the company.
Bunker quality improving Bunkers are showing an improvement in quality according to the International Bunker Industry Association (IBIA).
Soechi VLCC arrested An Indonesian-owned VLCC has been arrested in Singapore over unpaid bunkers, according to court documents seen by TradeWinds.
Hoegh Osaka sets sail The Hoegh Osaka has sailed from Southampton en route to the southwest of the UK to undergo repairs.
Trafigura takes MR Trafigura has taken a number of VLCCs on time charter in recent weeks but it has been increasingly active in other corners of the market as well, sources said Tuesday.
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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