Ulstein's X-Bow design sold to 100 ships With two more newbuildings to work offshore servicing wind farms, Ulstein Group reported it has achieved sales of 100 designs using the X-Bow hull lines. This milestone was reached only 10 years after the X-Bow was introduced in 2005. The two newest contracts are with Bernhard Schulte/WINDEA
Ulstein to build offshore wind service vessels Ulstein Verft and the German-based Bernhard Schulte have signed a building contract for two service operation vessels for the offshore wind industry, it was announced yesterday. Both vessels will be built to ULSTEIN SX175 design, while the final detailed arrangements and equipment have been
Magellan Spirit remains grounded near Nigeria Efforts so far have failed to shift a fully laden liquid natural gas carrier that ran aground on a mud bank near Bonny, Nigeria, last week. Teekay Shipping's 104,169gt Magellan Spirit grounded in soft mud on 5 January while exiting the Bonny Island LNG Terminal under pilotage and laden with
Pacific Basin takes $132M in charges against 2014 results Hong Kong-listed Pacific Basin Shipping is expected to take accounting charges (non-cash) of a combined $132M for chartered vessel contracts and bunker fuel swap contracts against its full-year results in 2014.
Van Oord orders Damen dredger and crew vessel As Dutch dredging and offshore contractor Van Oord takes delivery of cable-layer Nexus from Damen Shipyards, it orders a customised cutter suction dredger (CSD) and crew ship. Being completed at Damen's Nijkerk yard in the Netherlands and named Ural River, the CSD is based on the standard Damen
KLC seals coal shipping deal South Korean dry bulk shipping company Korea Line Corporation (KLC) said today it has signed a long-term coal shipping contract with a compatriot utility company. In a Korea Exchange filing, KLC said it emerged victorious in a tender called by GS Donghae Electric Power, which is owned by the GS
IMO admin 'not burdensome', survey finds The administrative requirement of IMO mandatory instruments on shipping crews is "not perceived as burdensome", an IMO industry survey has found. The organisation's first-ever public survey and consultation on this matter, "Have your say!", attracted 3,229 completed consultation documents
Sainty Marine Development sues compatriots Shenzhen-listed Sainty Marine's trading subsidiary has filed lawsuits against two compatriot companies over outstanding loans totalling CNY10.2M ($1.6M). Sainty Marine Development, a wholly owned subsidiary of Sainty Marine, has sued Nanjing Fengan Technology and Jiangsu Zhongjian Group demanding
Shipping bolsters Hyundai Glovis growth The 2015 sales of Hyundai Glovis will grow, driven by international logistics including shipping, said an analyst in a research note. Hyundai Glovis is the logistics arm of South Korea's Hyundai Motor Group. True Friend Korea Investment & Securities analyst Heedo Yun said, "Hyundai Glovis' 2015
Northport begins massive infrastructure revamp Malaysia-based port operator, Northport (NP) has adopted a huge upgrade programme to stay ahead of competition. The upgrade programme is an attempt to claw back market share from another Malaysia-based port operator Westport (WP), as well as expanding Northport's business operations.
New Sri Lanka administration against China port project A $1.4Bn deal with a Chinese company China Communications Construction (CCCC) on developing a port city in Colombo may get scrapped as the opposition won the election last Friday. Sri Lanka's new president Maithripala Sirisena took oath in the evening of last Friday after defeating Mahinda
Second tanker bombed in war-torn Libya Vessel was attempting to deliver gasoline to radical Islamist group, says Libyan military
Box lines face risk of copycat domain names Domain names have been created that are suspiciously similar to those of leading shipping lines
Evergreen races MOL to place first order for a 20,000 teu giant Imabari Shipbuilding and Samsung Heavy industries in the frame to build vessels
Loss and premium records favourable for main vessel types Boxships still counted as dry cargo in International Group analyses
International Group cuts reinsurance rates for tankers and bulkers Passengerships frozen for 2015-2016 policy year
China allows coast trade for three Cosco foreign-flag vessels The relaxation could compromise other ports' competitiveness as transhipment centres
Pacific Basin issues profit warning after taking $132m in provisions Non-cash charges stem from onerous charter contracts and a write-down on bunker swaps
SWS subsidiary delivers first two China-built VLGCs John Fredriksen-backed Avance Gas takes delivery of 83,000 cu m vessels for spot trading
Transpacific box volume growth slowed in November Container Trades Statistics figures show that volumes increased 3.2% in November to 1.2m teu
Ship hijack figures for 2014 reveal sharp jump IMB highlights risks for coastal tankers in Southeast Asia
VLCC earnings to stay steady as January loading programme ends Earnings stay in the $80,000s per day for Middle East Gulf to Asia spot voyages
Baltic Sea ice-class aframaxes break through $100,000 per day earnings barrier Further rises in earnings possible for ice-class vessels
Capes stage a sudden rally Most of the good news is based on transatlantic demand, but other routes showed some bounce, too
US Chamber's Donohue goes back to pump in call for highway funds WASHINGTON, D.C. -- For years, the U.S. Chamber of Commerce has been urging Congress and the White House to raise the federal fuels tax to help maintain and expand aging highways and bridges. For years, Congress and the White House have said no. It's time to try and try again, the...
UPS expands contract logistics network in Europe Faced with growing demand from retail and technology customers, UPS is expanding contract logistics operations in Europe. The world's second-largest transport operator, after DHL, is expanding three contract logistics facilities in Germany and the Netherlands. The expansion adds nearly 220,000 square feet of space to UPS's global supply chain network, the...
Cabotage and transshipment, not international trade, bolster Santos figures Recent increases in throughput for the port of Santos - which handles 28 percent of all Brazil's foreign trade and 33 percent of its containerized trade - are concealing a slump in international box movements at South America's largest port. Luiz Araujo, manager in the commercial department for Ecoporto Santos, says...
US to end direct oversight of Teamsters union Stringent U.S. oversight of the Teamsters union, aimed at keeping organized crime out of a labor organization with a long history of mob influence, may soon come to an end. The International Brotherhood of Teamsters and the U.S. Attorney for the Southern District of New York agreed Jan. 14 to replace...
CP maintenance workers threaten strike if contract not reached Roughly 1,650 Canadian Pacific Railway maintenance workers represented by the Unifor union have voted to strike if a contract with the railroad can't be reached by Feb. 15. Unifor said talks with the second-largest Canadian freight railroad have been "challenging" because the company wants "significant concessions" and has used "heavy-handed treatment...
US Chamber's Donohue sees long-term threats to 'improving' economy Photo courtesy U.S. Chamber of CommerceWASHINGTON, D.C. -- The American business climate is "improving" and will continue to improve in 2015 as the U.S. economy grows at a faster pace, but it's not time for a "victory lap," U.S. Chamber of Commerce President and CEO Thomas J. Donohue said. "Six long...
How US railroads would respond to West Coast dockworker lockout The potential impact of a U.S. West Coast port lockout on intermodal service - should it come to that - varies by expert but analysts agree that the railroads will act fast and decisively if it does occur. If waterfront employers lock out longshoremen - a rising concern as contract talks...
Last ditch effort made to avoid Vancouver drayage strike Representatives of union and non-union drayage drivers serving Port Metro Vancouver will meet with British Columbia's minister of transportation on Thursday in what drivers call a final attempt to avoid another strike at Canada's largest container port. Drayage drivers accuse the provincial government of altering a 14-point deal that ended a...
Privatization proposed for New Orleans switching railroad New Orleans Mayor Mitch Landrieu has asked commissioners of the Public Belt Railroad to consider selling the city-owned short line, which provides switching services for the six major railroads serving the port. The proposal was sparked by interest from Thomas Coleman, a New Orleans businessman and former CEO of International-Matex Tank...
Survey reports $7 billion in Lakes-Seaway investment Companies and governments have spent or committed nearly US$7 billion since 2009 to investment in ships, ports and terminals, and waterways infrastructure on the Great Lakes and St. Lawrence Seaway, a new survey reports. The investments include nearly $4.7 billion in 2009-13 and more than $2 billion committed after 2013, said...
Eurotunnel to boost freight capacity following court ruling Eurotunnel unveiled plans for a 20 percent increase in freight capacity through the sub-sea rail tunnel linking the UK and France to keep pace with growing cross-Channel traffic. The Paris-based operator of the tunnel has ordered three new freight shuttles to add to the 15 in its existing fleet in order...
Congested Manila port braces for five-day papal visit HONG KONG - The Philippine Ports Authority has announced it will be "business as usual" during the papal visit that begins on Jan. 15, despite a five-day shutdown of Manila South Harbor (MSH) and disruption to other terminals in the capital city's long congested port. Combined yard utilization at MSH and...
Shift in low end production to dominate Asia trade, Barclays says HONG KONG - China's exports in 2014 recorded the second slowest growth since the country joined the World Trade Organisation in 2001, rising just 6.1percent as overall trade growth for the year slumped to 3.4 percent. The growth of imports and exports missed China's official target - set at 7.5 percent...
ILWU, PMA trade painful blows as talks reach eight-month mark Longshore contract negotiations on the U.S. West Coast have degenerated into a war of attrition in which the union's work slowdowns have significantly increased operating costs for shipping lines and terminal operators, and the employers are countering by reducing work opportunities for rank-and-file longshoremen. Caught in the middle are the ports,...
McCain targets Jones Act A leading US politician has mounted a crusade against the Jones Act, a cabotage law that protects domestic operators from foreign competition.
Horizon faces hurdle It appears that Horizon Lines has encountered a hurdle in the race to consummate the sale of its Hawaiian shipping division to the Pasha Group.
Wall Street awaits dividend A growing number of Wall Street forecasters believe Global Ship Lease (GSL) is on the brink of declaring a dividend.
Private equity eyes exit Some of the shipping industry's leading lenders are growing increasingly aggressive in the race to line up deals, according to the managing director of CIT Maritime Finance.
KLC lands COA Korea Line Corp (KLC) has secured a contract-of-affreightment (COA) worth nearly KRW 62bn ($57m).
RWE redials Diana RWE Supply & Trading has chartered another capesize bulker from Diana Shipping in a deal that serves as a testament to the German firm's insatiable appetite for tonnage.
P&O pulls out Australia has been left with one bidder in its long-running tender to build a new Antarctic icebreaker.
Eitzen Chem wins backing Eitzen Chemical has secured the total support of lenders and bondholders for a major restructuring scheme.
Russian ro-ro ablaze Japanese firefighters have been called to a fire on a Russian ro-ro at the port of Akita.
Doumbia-Henry takes charge Cleopatra Doumbia-Henry will be the seventh president of the World Maritime University (WMU) and the first female ever.
FreeSeas buys time The Nasdaq exchange has given Greek bulker owner Freeseas an extra 180 days to bring its stock price back above $1.
Libya bombs second tanker Libya has bombed a tanker thought to be attempting to deliver petrol to Islamist militia group Ansar Al-Sharia, the second attack within 10 days.
Reinsurance rates dive A bigger than expected reduction in the reinsurance tariff paid by the world's shipowners has been agreed for the new protection and indemnity policy year.
Meriaura orders eco-pair Finland's Meriaura has placed its first order since 2012 for two general cargo vessels to be built at Dutch shipyard Royal Bodewes.
Interorient bulker held A bulker owned by Cyprus-based Interorient was held in a British port on New Year's Eve for not meeting the International Safety Management (ISM) requirements.
Wreck removal starts Salvors are finally due to start work on removing a half-submerged general cargoship that has been stuck off Indonesia since November 2013.
BGC offers more US brokerage BGC Partners has once again increased its takeover offer for derivatives group GFI in a bid to see off a rival bid.
Ezra puts break on IPO Ezra Holdings has put its plan to list its subsea services unit in the US on hold, due to unfavourable market conditions.
Take a break Black Sea MOU port states detained six ships for deficiencies linked to rest hours for crews in its latest campaign.
Pareto raises VLCC view Pareto Securities has boosted its VLCC spot rate forecasts as a spike in floating storage contracts combines with a supply-driven recovery.
More hijackings in 2014 Global ship hijackings have risen in 2014 due to more attacks against small tankers off South East Asia's coasts, the International Maritime Bureau (IMB) has revealed.
Crew evacuated The Turkish coast guard has taken 14 Syrian crew from a cargoship forced on to a beach near Antalya in a storm.
HHI cuts and merges Korea's Hyundai Heavy Industries (HHI) is planning more cost-cutting measures to boost its fortunes.
Pac Basin fires profit warning Pacific Basin Shipping has issued a profit warning after taking provisions of over $130m on loss-making charters and fuel price hedges.
Eckero sells duo Sweden's Eckero Shipping has sold two ro-ro vessels, with Finnlines the likely buyer.
Krasnoye tops up Russian shipbuilder Krasnoye Sormovo has raised RUB 27.7m ($0.42m) through a stock sale.
Seaway volumes surge The St Lawrence Seaway has logged a strong increase in cargo volumes for 2014 as grain business boomed.
Intercargo bauxite warning Intercargo has sought to remind shipowners of the continued dangers associated with the carriage of bulk cargoes that may have a potential for liquefaction.
China imports surge China's oil imports surpassed 7m barrels a day for first time in December as the country took advantage of the collapse in oil prices.
Svitzer makes progress Salvors working on the recovery of the Hoegh Osaka made more progress on Tuesday thanks to improved weather conditions.
Warning over Iran cargoes Tanker owners are being warned over suspected sanction busting activities involving Iranian crude oil exports.
Panama in LNG tie-up The Panama Canal Authority (ACP) has teamed up with the US Port of Lake Charles in a bid to attract more LNG shipping.
Lukoil Marine supplies lubricant to 'world's largest containership' MSC's vessel will use Lukoil's iCOlube cylinder oil lubrication unit.
IMB report: 2014 ship-hijacking figures boosted by fuel thefts Number of crewmembers held hostage by pirates also rose last year.
Second tanker bombed in Libya Libyan National Army confirms attack but gives no further information.
More EU funding to support LNG bunkering LNG bunker fuel is being promoted as 'a greener and cheaper alternative'.
Finnish shipower orders coastal 'eco' ships Aiming to have half of its fleet fuel efficient 'within five years'.
OW Vice President finds new role Now Chartering Director at Maersk Tankers.
Ships fined for failing to follow 'clean fuel' regulations California Air Resources Board names four companies that violated the rules.
Low sulphur demand rising in South Korea New ECA rules boost demand for product.
New A15 vessel class sets new standard in efficiency, sustainability Class includes world's first LNG-ready boxship.
Owners make third party payments to avoid ship arrest As fallout of OW collapse continues to unfold.
Piracy in Asia 'significant and worrying' Intertanko says danger to crews should not be ignored.
Bunker markets in step with crude Falls in the crude oil markets have been closely matched by a slide in bunker prices, Bunkerworld data show.
OW manager fights extradition to Italy Danish court delays decision in Navy fraud case said to be linked to the Italian Mafia.
Rush for floating storage capacity continues Over 20 tankers chartered with storage option so far this month, traders say.
New claim to title of 'world's largest containership' Vessel has system to purify and recycle waste oil produced, says DSME official.
Dutch firm buys bunker-saving duo Vessel design claims 'substantial reductions in fuel consumption'.
New Orleans highlights ECA fuel changeover concerns Issues options to vessels not completing fuel changeover procedures before entering Mississippi River.
Lukoil starts low sulphur bunker supplies at Russian port Company targeting ships enroute to ECA zones.
Aegean increases fund raising target Goal for senior notes 'upsized' from $40 million to $42 million.
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