Eurogate warns of ULCS gridlock Container lines will face increasing bottlenecks in Germany's main ports, Hamburg and Bremerhaven, as they upgrade Asian and European services to ultra-large containerships (ULCSs) of 19,000 to 20,000 teu. Further delays to the ports' channel deepening projects will prevent improvement to the
Japanese group seals Petrobras FPSO contract A consortium comprising Japanese companies MODEC, Mitsui, Mitsui OSK Lines (MOL), and Marubeni plan to convert a ship into a floating production, storage, and offloading vessel (FPSO). Upon completion in 4Q17, the FPSO will be chartered to Brazilian oil company Petrobras, which will deploy the
Vyborg wins multipurpose ice pair Russian shipbuilder Vyborg, part of state-owned United Shipbuilding, has won an order for two diesel-electric multipurpose icebreakers from compatriot energy company Gazprom. The two 22 MW vessels are scheduled for delivery before 2018. They will operate at the arctic terminal of the
Far East westbound slump hits K+N The world's largest ocean freight forwarder, Kuehne+Nagel (K+N), suffered a slight drop in ocean shipment volumes in the first quarter after years of continued strong growth. The group today posted a 0.7% decline in global booking volumes to 890,000 teu, whereas global loaded container traffic is
Mixed signals from Shanghai for near term container freight rates A rise in trans-Pacific spot container freight rates has nudged the Shanghai Containerised Freight Index (SCFI) higher last week, but the picture is less encouraging in Asia-Europe trades, shipping analysts at DNB Markets in Oslo
Chinese yards' new orders down 76.8% in 1Q Chinese shipyards' new orders slumped 76.8% year on year to 6 million dwt in the first three months of 2015, a statement of the Ministry of Industry and Information Technology said on 14 April. Orders fell by 2.5% to 144.9 million dwt at the end of March. Newbuildings for exports accounted for
Teekay Offshore prices fundraiser NYSE-listed Teekay Offshore is the latest public shipping company to tap the perpetual preferred equity market for growth funding. On 13 April, Teekay Offshore priced five million perpetual preferred units at USD25/unit with a dividend rate of 8.5%. Gross proceeds will be USD125 million, or
Three Bourbon crew members abducted off Nigeria French offshore vessel operator Bourbon confirmed today that three crew members had been kidnapped from one of its crew boats off the Nigerian coast last week. The company said that the crew boat, Surfer 1440, had been boarded during the night on April 8 and that three Nigerian nationals had been
Italian owner files for US protection Italian owner Rizzo Bottiglieri-De Carlini Armatori (RBDA) has filed for Chapter 15 bankruptcy protection in Houston, Texas. The mixed fleet operator, which owns 16 bulkers and tankers, sought court protection in Italy on 3 February. The US filing on 8 April is intended as an ancillary asset shield
Taiwanese container carriers' revenue up in Q1 The top three Taiwanese container carriers, Wan Hai Lines, Yang Ming Marine Transport (Yang Ming), and Evergreen Marine Corp, recorded revenue growth in the first quarter of 2015. Wan Hai Lines posted revenue of TWD17.16 billion (USD0.55 billion) for the first quarter of 2015, up 17.4% year on year
Vard incorporates new subsidiary in Norway Singapore-listed offshore vessel-builder Vard Holdings has incorporated a new subsidiary, Vard Contracting, in Norway for a paid-up capital of NOK3 million (USD0.37 million). According to Vard Holdings' filing in the Singapore stock exchange, Vard Contracting is 100% owned by Vard Group, which is a
Ship scrap prices to drop again as monsoon season nears Although prices in South Asia's ship recycling markets maintained last week's levels, cash buyers predict levels to regress again as the monsoon season nears. In addition, Bangladeshi buyers have committed themselves to a number of Capesize bulkers and are not inclined to buy more ships. Prices in
'Age of uncertainty' foreseen for shipping Changes in the global economic and security environment will pose challenges for shipping for many years, but great opportunities exist should international co-operation gain traction again, said a shipping expert. Sturla Henriksen, managing director of Norwegian Shipowners' Association (NSA), said
CSPI falls to two-year low The Chinese shipping industry hit bottom again in the first quarter, with China Shipping Prosperity Index (CSPI) registering 85.47 points, stated Shanghai International Shipping Institute (SISI). The index is at its lowest since the fourth quarter of 2012, SISI said in its latest China Shipping
US releases box congestion report Anecdotal evidence suggests that American importers and exporters are being overcharged for congestion fees at major US box terminals, a government report has revealed. "Rules, Rates, and Practices Relating to Detention, Demurrage, and Free Time for Containerized Imports and Exports Moving Through
Civmec on due diligence phase for proposed acquisition Singapore-listed oil and gas engineering services provider Civmec has entered into a due diligence phase for the acquisition of Indonesia-based offshore energy services company PT Global Industries Asia Pacific. Australia-headquarter Civmec cited in its filing to Singapore Exchange that the
China COSCO scraps 14 old vessels China COSCO Holdings pushed ahead with its February-March fleet scrapping plan to dismantle one container ship and 13 bulk carriers. The scrapping of the vessels incurred approximately CNY72 million (USD11 million) in loss, according to a stock filing of the company on 14 April. The demolished
South Korea plans feasibility study for Sewol salvage South Korean government is trying to determine if it is viable to hoist the capsized ferry, Sewol, from the Yellow Sea. During a press conference in Seoul on 13 April, the country's Minister of Public Safety and Security, Park In-yong, said he would facilitate a feasibility study. Park In-yong's
Anangel scraps older capes as it swoops on Scorpio trio New data shows Greeks favour Japanese tonnage for secondhand buys
Japanese firms invest in FPSO on back of Petrobras charter deal Mitsui & Co, MOL, Marubeni join another Modec project with beleaguered Brazilian energy giant
Federal Maritime Commission releases port congestion report Review highlights costs impact, including demurrage and detention fees
Aronnax: Conventional wrecking The Nairobi wreck removal convention is now in force, but with plenty of holes
G6 brings back transpacific services for the summer But it will drop two west coast operations
Tankers should avoid last year's spring collapse, say experts Aframaxes lifted by surging global oil trade
Breakers stock up ahead of monsoon Prices up, but many question how long current rates will be sustained
Merger of Fredriksen's Frontlines edges closer as bond is repaid Frontline to repay bond now, freeing it up to merge with Frontline 2012 to create newest tanker giant
Asia-Europe weakness and exchange rate changes hit K+N Fluctuating Swiss franc 'negatively impacted' freight forwarder's first-quarter result
Lawyers circle the Genco-Baltic merger Several US firms specialising in shareholder rights are investigating terms of last week's Georgiopoulos tie-up
China Cosco Holdings scraps 14 vessels Tonnage sent for demolition includes one boxship and 13 bulk carriers
Will Congress preserve changes to trucker hours rule? ORLANDO, Florida -- Congress most likely will have to act to preserve recent changes to truck driver hours of service rules by passing a bill extending those changes before they expire Sept. 30, NASSTRAC officials said at the shipper group's annual conference here. However, the legislative vehicle Congress would use...
DISTRACTED DRIVING - IMPACT ON EMPLOYEE SAFETY, PRODUCTIVITY AND EMPLOYER LIABILITY You are invited to join the League's webinar on Thursday, May 7th at 2 p.m. (EDT) on "Distracted Driving - Impact on Employee Safety, Productivity and Employer Liability," presented by David D. Teater from the National Safety Council. Mr. Teater will discuss the impact of distracted driving on traffic safety,...
Greenback rise could increase surge of US imports A U.S. dollar in hyperdrive is helping exporters in some trading nations and setting the stage for a surge of U.S. imports. Exporters, especially in India and Brazil, have been given a competitive boost in recent months, as the U.S. dollar appreciates at its fastest rate in decades, according to new...
US court upholds sentences of Somali pirates The 4th U.S. Circuit Court of Appeals has denied the appeal of two Somali nationals who challenged their piracy and murder convictions on grounds that their alleged crimes weren't committed in international waters. Abukar Osman Beyle and Shani Nurani Shiekh Abrar were among a group that killed four U.S. citizens on...
Want to fix the mess? Start with a national port strategy "Falling Apart: America's Neglected Infrastructure" was the title of a Nov. 23, 2014, 60 Minutes feature focusing on the problems with bridges, roads, airports and ports. The ports, of course, got little airtime, but why? What was going on at U.S. ports on Nov. 23? Nothing of note, according to the...
Oakland port plans Saturday hours, other steps to cut delays Port of Oakland officials say that as cargo recovers from winter disruptions, they're developing proposals to accelerate containerized trade flow through their five marine terminals and reduce waiting times for harbor truckers. The plans include Saturday operations every week to alleviate weekday crowding inside terminals, off-terminal locations for after-hours drop-offs or...
With Africa not ready for prime time, apparel importers improve Southeast Asia footprint WASHINGTON - Africa may be the future frontier for apparel sourcing, but with infrastructure and industry on the continent still lacking, apparel manufacturers say they're staying put in Southeast Asia for the time being. And not just staying put, but building relationships with their vendors and suppliers there, industry insiders said...
CargoSphere Supports Livingston's Expansion Goals Chapel Hill, North Carolina, April 14, 2015 - CargoSphere, the leading, cloud-based global rate management solution and confidential Rate Meshfor the ocean and air transportation and logistics industries, today announces Livingston International's commitment to a long-term contract to support expansion of their global freight forwarding and NVOCC (non-vessel operating common...
J.B. Hunt profit jumps 34 percent Stronger pricing, better equipment utilization and strong intermodal growth helped lift J.B. Hunt's fiscal first quarter profit 34 percent year-over-year to $91.9 million. The Lowell, Arkansas-based carrier's revenue in the first three months of the year rose 2 percent to $1.4 billion despite a 1 percent slip in revenue from its...
The President of the French Republic Mr François Hollande has decorated Mr Jacques Saadé, the CMA CGM Group Founder, Chairman and Chief Executive Officer, Commander of the National Order of the Legion of Honor The CMA CGM Group is pleased to announce that the French President Fran'ois Hollande has decorated Mr Jacques R. Saadé, the CMA CGM Group Founder, Chairman and Chief Executive Officer, Commander of the National Order of the Legion of Honor. Mr Saadé was decorated by Mr Fran'ois Hollande during a ceremony...
Evergreen Line Holds Naming Ceremony for EVER LYRIC JERSEY CITY, NJ (April 14, 2015) -- Evergreen Group today held the naming ceremony for EVER LYRIC, the eighth of its L-type vessels built by CSBC Corporation in Taiwan. The ceremony took place at CSBC's Kaohsiung shipyard and was officiated by Mr. Raymond Lin, Evergreen Group's Vice Group Chairman. The...
Strong franc, weak Asia-Europe trade pinch Kuehne + Nagel earnings The strong Swiss franc and a weak Asia-Europe container trade squeezed Kuehne + Nagel's earnings and revenue in the first quarter. Net earnings at the world's largest ocean freight forwarder crept up to 153 million francs ($157.6 million) from 150 million francs in the first three months of 2014, but revenue...
Brazilian shippers gain services at new Amazon port Manaus facility Brazilian shippers using the growing Amazon port of Manaus can now tap a number of new services, including a fixed day call at Vila do Conde, provided by Alianca Navegacao e Logistica at its new facility. The opening of ATM Manaus, operated by Alianca Transporte Multimodal, an offshoot of Alianca, increases...
No regulatory issues if alliances work together on land side operations, Widdows says HONG KONG - Regulatory concerns raised following McKinsey & Co.'s recommendation that liner alliances cooperate to improve land side efficiency in Los Angeles-Long Beach were played down by industry veteran Ron Widdows.In an interview with JOC.com, Widdows said regulatory issues would only arise if lines began tinkering with contractual arrangements....
Outbreaks strike two cruises Two Royal Caribbean Cruises ships were scheduled to undergo US government health assessments in San Diego after 228 passengers and crew fell ill.
Bulker grounds in US A Japanese-controlled bulker ran aground today in the Delaware River.
Radiance eyes Africa Singapore-listed Pacific Radiance has formed a joint venture in Ghana to own and operate offshore ships.
Deal to favour charterers A successful takeover of BG by Shell may shift the balance of the LNG carrier market further into the charterers' court, a leading analyst believes.
Ship blaze fought Firefighters have tackled a blaze on an unladen cement carrier off Indonesia.
Bumi wins LNG deal Malaysian owner Bumi Armada has made an important move into the LNG market with a floating storage unit (FSU) conversion contract.
Third time lucky? A third auction has been scheduled for the sale of a tanker linked to the OW Bunker bankruptcy in Singapore.
Atlantic Offshore sells veteran Atlantic Offshore has sold one of its emergency response and rescue vessel (ERRV)s for demolition.
Three in, two out The G6 Alliance of container lines is resuming three services between Asia and North America for the summer, but withdrawing two others.
IPO in doubt? Vinalines has warned its upcoming IPO could be delayed as creditors suspended debt settlement talks.
Spring forward A fresh approach from OPEC should help prevent a re-run of last spring's tanker rates slump, Clarksons Platou Securities says.
P&O pays up UK shipping union RMT has claimed a "major victory" after P&O agreed to switch 100 crew from zero-hours contracts.
NAT jacks up dividend Nordic American Tankers has jacked up its dividend in the face a stronger spot market.
Frontline set for fresh start John Fredriksen's Frontline will today write a cheque to bondholders that will end a drama which has surrounded the company for the past couple of years.
TOO targets $125m Teekay Offshore Partners has set its sights on $125m from a preferred equity offering.
Sincere profit slips Taiwan's Sincere Navigation has posted lower 2014 earnings despite a revenue rise.
Rickmers in $1.35bn deal Germany's Rickmers Group has completed a refinancing of loans worth EUR 1.28bn ($1.35bn) and is now looking to strengthen its equity.
Belships funds newbuilds Belships has confirmed that it has secured post-delivery financing for two supramax bulkers on order in Japan.
Three crew kidnapped French shipowner Bourbon has said three of its seafarers have been seized from a crew boat off Nigeria.
Double for Vyborg Russian energy giant Gazprom has ordered two diesel-electric icebreakers at the domestic Vyborg yard.
FSL Trust snaps up shares First Ship Lease Trust (FSL Trust) has raided the stock market for a second time in as many weeks to buy back its own shares.
Statoil plans more cuts Statoil is said to be considering another round of job cuts as it tries to slash costs in the face of much lower oil prices.
Nigerian Navy foils pirate attack Arrests one suspect for questioning.
US offers grants to help vessels with LNG conversions Total funding available will be $900,000.
Evergreen Group names new 'fuel-saving' vessel Ever Lyric will replace an older vessel on Evergreen Line's Far East Red-Sea Service.
Royston upgrades fuel management system Fuel use by one engine can be monitored.
European fuel oil traders: 'There is just too much oil' 'At least 1.35 million mt will be heading from Rotterdam to Singapore this month'.
Ship auction in Singapore Vessel sale bound up with OW Bunker debacle.
Softly, softly ECA compliance welcomed Interferry acknowledges industry's soft ride since January 1.
'Eco-ship' concept is a proven money saver Critics have been wrong, says head of shipping advisory for DNV GL.
Shell's ECA-design lubes meeting demand Company has increased availability throughout port network.
'LNG is our gamechanger' says ferry operator Polish shipyard workers have started building the second of three dual-fuel vessels for Canada's BC Ferries.
Shipbuilder upbeat on LNG-powered vessel outlook Company plans to inject millions into shipyard upgrading project.
Titan court proceeding further adjourned Hearing at Bermuda Court earlier arranged on April 10.
Vessel in Vancouver oil spill under investigation Being examined for compliance with the Canada Shipping Act.
GTT to introduce updated LNG containment technology The company has signed a cooperation agreement with South Korean shipbuilder Samsung Heavy Industries.
Andatee at risk of delisting Company misses annual report filing deadline.
Renewable energy technology gets class approval Equipment is being installed on a Greek ferry.
Italian shipowner seeks bankruptcy protection Creditors include defunct OW Bunker.
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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