Scorpio buys more tankers NYSE-listed Scorpio Tankers has tacked on two more newbuilding resale purchases to its already prodigious product carrier fleet. The Emanuele Lauro-led company is paying USD37 million for an MR product tanker newbuilding being built at South Korea's Hyundai Mipo Dockyard for delivery in September
Dynagas prices preferred stock NYSE-listed Dynagas LNG Partners has priced an offering of perpetual preferred equity to fund a vessel acquisition from its private sponsor. The George Prokopiou-led partnership priced the USD75 million share sale at a dividend rate of 9%. If the underwriter option is fully exercised, gross
Somali pirate releases raise concerns The release of a group of Somali pirates from Kenyan prisons has sparked concerns about where they are likely to go next. Fourteen of the 164 Somali pirates currently serving time in Kenya prisons are to be released and repatriated next month. They follow 64 others recently sent back to Somalia
VLGC rates rebound as ships diverted to west-of-Suez Rates to ship LPG on very large gas carriers rose again on 10 July as more ships were fixed to load in Algeria, west Africa, and the US Gulf. This is despite weak LPG demand in east Asia. The Baltic Exchange assessed the benchmark Gulf-Far East rate at USD135.50/tonne on 13 July, up USD1.50 from 10
Ningbo Marine president resigns Shanghai-listed Ningbo Marine announced on 13 July that its president Chu Min has resigned because of a job change. Chu has also quit as the director of strategic committee, and the board agreed that vice-president Yao Cheng will step up until a new president is selected. Born in 1956, Chu is a
Maersk urges Chinese ports to consolidate top slot A leading figure in Maersk China has praised China's port industry as the leader in the field, but has warned that some improvements are needed for it to keep that position. Jens Eskelund, senior director of Maersk China, is reported by Xinhua News Agency as telling the Maritime Silk Road
Italy reappoints Taranto port boss The Italian government has reappointed the president of Taranto port authority in a holding role ahead of the approval of national ports reform legislation that will make the authorities regional entities and reduce their number to 13. The mandate of Taranto port boss Sergio Prete is due to end
Tsuneishi Shipbuilding seeks tanker and box ship orders Japanese shipbuilder Tsuneishi Shipbuilding told IHS Maritime on 14 July it is trying to secure orders for tankers and container ships in addition to the dry bulk carriers that it specialises in. The shipbuilder confirmed it has recently won orders for six 106,000 dwt Aframax tankers that would be
One dead after two vessels collide Two general cargo ships collided in the early morning of 13 July near the Xiaoban Men channel of Zhoushan archipelago in China, leaving one dead and another missing. At 00:15 h local time on 13 July, China-flagged 4,071 dwt Wan Li 8 collided with Sierra Leone-flagged 5,287 dwt Heng Run, local
Nam Cheong issues $55.4m fixed-rate notes Singapore-listed shipbuilder Nam Cheong has issued SGD75 million (USD55.4 million) worth of 6.5%, three-year, fixed-rate notes at par under its SGD600 million multicurrency medium-term note programme. The company has appointed Malaysia-headquartered CIMB Bank, Singapore-based DBS Bank, and RHB
Keppel FELS wins $85m liftboat contract Singapore-headquartered offshore services provider Keppel FELS has won a USD85 million contract to construct a high-specification liftboat for offshore oil and gas company Crystal Heights Holdings (Crystal Heights). This latest contract is the second liftboat Keppel has been contracted to build
New Asia-Latin America service launched Taiwanese carrier Yang Ming has teamed up with Hanjin Shipping and Hyundai Merchant Marine (HMM) to launch a new Asia Pacific-Latin America service. Ten 4,500-5,500 teu box ships will be deployed in the South America Loop 2 service, which began on July 11. The port rotation for the service will be
Seoul grants compensation to 46 Sewol claimants Seoul has granted compensation to the 46 survivors of Sewol disaster and families of its victims. South Korea's Ministry of Oceans and Fisheries announced on 10 July that 96 Sewol-related claims, including for cargo loss and losses suffered by fishermen, had been approved. The ferry capsized
Marchen Maersk named in Felixstowe Ceremony comes as the last of Maersk's 20-ship Triple-E order was delivered this month and the line announces a fleet of second-generation Triple-Es
Robust aframax scrapping helps limit crude tanker fleet growth Around 45 aframaxes sold for scrap since Jan 2013, data shows
Tanker players to feel Iranian impact from winter Increased shipping demand could be offset by more Iranian tanker capacity and a possible fall in tonne-mile demand
Iran nuclear deal adds more pressure to oil prices The prospect of an influx of Iranian oil comes when there is already oversupply in the market
High Court finds for OW Bunker in Pappas test case Contract with collapsed trader valid even though another company was physical supplier
Asia-Europe volumes drop in May But global volumes continue to track above last year's levels
Judgment reserved in Pappas test case on bunkers double-charging But High Court judge promises to hand down verdict as soon as possible on claim against OW Bunker and ING
Maersk calls on China to open cabotage trade and improve its port navigation Liner shipping connectivity is crucial for Beijing's Maritime Silk Road strategy
New chapter opens for Torm as tanker owner completes restructuring Debt reduced to $561m and new A shares to be issued on Nasdaq Copenhagen
Scorpio Tankers buys two at South Korean yards Purchases worth a total of $95m add heft to product tanker fleet
European forwarding giant K+N posts better earnings K+N reports a mild boost in profits, supported by results in its sea freight division
Konecranes gets order for automated RTG system for Indonesia container terminal Konecranes has received a repeat order for an automated RTG (ARTG) system from PT Pelabuhan Indonesia III (Pelindo III) in Indonesia. The system includes nine automated RTG cranes. It will be delivered to Terminal Petikemas Semarang (TPKS), an operational terminal in Central Java, at the end of 2016. The order...
Airlines in desperate need of help to do business in India Delhi - The International Air Transport Association (IATA) has called for the development of a comprehensive policy for aviation aligned with the Indian Government's stated intention to make it easier to do business in India. The objective is to allow India to derive maximum social and economic benefits as its...
Congress winds up to kick can again on US highway bill WASHINGTON - Republicans in the U.S. House of Representatives have introduced legislation to extend federal highway funding through the end of the year to buy time to find funding and votes for the six-year long-term bill that both the GOP and Democrats want. House Ways and Means Committee Chairman Paul Ryan...
R+L Carriers announces new service center Wilmington, Ohio - Global transportation provider R+L Carriers is pleased to announce the grand opening of the Kennesaw, Georgia (KES) Service Center. This facility will provide easy access to the I-75, I-575 and I-285 shipping corridors and will allow for Guaranteed AM delivery and Guaranteed Hourly Window delivery into regions where Expedited...
Gulfport cancels study of deeper channel The Port of Gulfport, Mississippi, has encountered a setback to its hopes of dredging a channel large enough to match the port's growth ambitions. Gulfport officials withdrew their request that the U.S. Army Corps of Engineers study enlarging of the port's 36-foot-deep channel to as much as 47 feet and widening...
US trucking companies keep more drivers, but need more A year of driver pay hikes may have paid off for trucking companies. The number of drivers quitting one carrier and leaving for another - called driver turnover - dropped significantly in early 2015, according to the American Trucking Associations. However, it's difficult to say exactly why more truck drivers decided to stick with their companies...
Port of Long Beach appoints communications director Noelia Rodriguez, a veteran communications executive with local and national experience, has been named to the newly-created position of director of communications at the Port of Long Beach. She will oversee the harbor department's communications, government relations and marketing divisions. Rodriguez served most recently as chief communications officer for Metro Los...
US highway bill's freight funding formula comes up short WASHINGTON - A new six-year surface transportation reauthorization bill in the U.S. includes more than a quarter-trillion dollars in infrastructure investment and designated funding for freight corridors. The formula that divvies up that funding among states, however, is intrinsically flawed, according to analysts at the Brookings Institution. Although the bill would channel funds...
Oakland import growth bodes well for peak season Port of OaklandThe Port of Oakland in June recorded its fourth straight month of growth in containerized imports since the signing of a tentative coastwide longshore contract in late February, boding well for the peak-shipping season in late summer to fall. Click to EnlargeLoaded import containers in June increased 2.6 percent...
Sanctions clobber Russian containerized trucking ST. PETERSBURG - The Russian trucking industry hauling containers is in crisis with demand plummeting because of Western sanctions on food imports and weak oil prices, but there's no help from Moscow on the way. The volume of containerized cargo hauled by Russian trucks fell by 15 percent year-over-year in the first...
US truckload carriers lure drivers with new trucks, technologies In the struggle to hire and keep truck drivers, trucking companies increasingly are using new, highly sophisticated, fuel-efficient trucks with the latest safety technology as incentives. They're also throwing in the latest "aftermarket" devices -- such as satellite televisions -- to make those drivers that do spend weeks on the road...
Kuehne + Nagel earnings up in second quarter LONDON - Kuehne + Nagel's net earnings rose 6.8 percent in the second quarter as strong growth in air freight tonnage offset lower ocean container volumes. The Swiss freight forwarding and logistics giant earned 173 francs ($183.4 million) in the three months through June compared with 162 million francs in the...
India's deep-sea Vizhinjam port project moves forward India's Kerala state authority on Monday issued a letter of intent to domestic port infrastructure developer Adani Ports and Special Economic Zone for the development of its long-planned deep-water, container transshipment terminal at Vizhinjam, paving the way for construction on the green-field site to begin by November. APSEZ's lone bid on...
Flat growth, rising capacity as air cargo runs out of steam Cathay Pacific has 13 Boeing 747-8 freighters in its fleet.HONG KONG - The air freight momentum generated by a solid first quarter has been well and truly lost with the world's market leader reporting flat growth in June and falling load factors.Cathay Pacific and its sister carrier Dragonair carried 141,136...
Slowing June volumes at world's top two container ports Port of SingaporeHONG KONG - Singapore became the second Asian hub port to declare slowing container throughput in June following weak growth reported by Shanghai last week in the run up to the peak season period from July to September.The port of Singapore handled 2.62 million 20-foot-equivalent units during June,...
Intra-Asia to rule global container trade HONG KONG - Manufacturing changes in the next 15 years will keep intra-Asia as the world's largest ocean container trade, representing 35 percent of global volumes, according to a study by the Shanghai International Shipping Institute.The regional circulation of mainly semi-finished products will change the approach and layout of manufacturing...
Flat growth and rising capacity as air cargo runs out of steam Cathay Pacific has 13 Boeing 747-8 freighters in its fleet.HONG KONG - The air freight momentum generated by a solid first quarter has been well and truly lost with the world's market leader reporting flat growth in June and falling load factors.Cathay Pacific and its sister carrier Dragonair carried 141,136...
Slowing June volumes at world's top two container ports HONG KONG - Singapore became the second Asian hub port to declare slowing container throughput in June following weak growth reported by Shanghai last week in the run up to the peak season period from July to September.The port of Singapore handled 2.62 million 20-foot containers during June, a significant...
Intra-Asia to rule global container trade, Shanghai institute says HONG KONG - Manufacturing changes in the next 15 years will keep intra-Asia as the world's largest ocean container trade, representing 35 percent of global volumes, according to a study by the Shanghai International Shipping Institute (SISI).The regional circulation of mainly semi-finished products will change the approach and layout of...
Carload weakness forecast to blunt US major railroads' profit growth The profit train U.S-based Class I railroads have been riding is slowing, resulting in expectations for solid but unspectacular profit reports for the second quarter, according to industry analysts. CSX Transportation, the first Class I railroad to report second-quarter earnings, announced Tuesday that net income rose 4.5 percent year-over-year to $553...
ILWU man-hours, wages rise despite stagnant West Coast volume A disturbing and costly trend is underway at West Coast ports where the number of man-hours paid to move containers is increasing as volume stagnates, while at the same time the hourly cost of longshore labor is also increasing. The pressure is therefore on terminal operators to increase productivity. Those terminals...
US spot market truck volumes rise in June Demand for heavy truck equipment on the U.S. spot freight market shot upward in June, increasing 9 percent from May, according to the DAT North American Freight Index. The June increase followed a 1.7 percent decline in spot market truck freight volumes from April to May, as measured by the index,...
CMA CGM Colombia opens new inland corridors CMA CGM Colombia offers, effective July 1, in addition to its maritime services, a complete inland coverage in Colombia, connecting its main ports of call to any inland destination across the country. With inland terminals in Medellin, Cali and Bogotá, and a network of 4 strategically located offices across the country,...
Globe Express Services appoints new CCO Globe Express Services has announced the appointment of Poonam Datta as its new Chief Commercial Officer (CCO). The industry expert will be responsible for developing the company's global commercial strategy and building a strong team to further expand its presence in the international market. An accomplished and experienced business leader,...
Dollar Tree to add East Coast DC in South Carolina Discount retailer Dollar Tree is branching out in South Carolina, building a $104.4 million distribution center near Spartanburg, on the I-85 corridor between Charlotte and Atlanta and a short truck dray from the intermodal facilities of the South Carolina Inland Port in Greer. The construction of the 1.5-million-square-foot distribution facility follows...
Pioneer goes with V Pankaj Khanna-led Pioneer Marine has hired V.Ships for technical management of its full operational fleet.
Maersk hikes box rates Maersk Line is increasing box rates for shipments from the Far East.
OW double jeopardy ruling An English High Court ruling has increased the likelihood of 'double jeopardy' to shipowners over payment of fuel supplied by OW Bunker, by upholding a tribunal's decision that the UK Sale of Goods Act 1979 (SOGA) did not apply.
FreeSeas back on track Nasdaq-listed FreeSeas has brought its share price back above $1 after a reverse stock split.
Milaha CEO steps down Milaha's chief executive has announced his intention to retire in September after serving for seven years as head of the diversified owner.
Three crew poisoned Three Vietnamese seafarers have died from reported gas inhalation on a cargo vessel off Malaysia.
Wilson takes duo Norway's Wilson has snapped up a duo of small bulkers from Dutch owner Vertom.
GMP kicks off Gener8 coverage GMP Securities has urged investors to buy up stock in newly quoted Gener8 Maritime, which is trading at a discount to its IPO price.
US yard group files US shipyard group Signal International has filed for bankruptcy five months after being slapped with a court fine in an alleged labour trafficking case.
NileDutch strikes VSA deal Netherlands owner NileDutch has joined a containership service between South America and Africa.
Hong Kong holds seven A Brazilian-operated platform supply vessel (PSV) was among seven ships detained in Hong Kong in June.
Iran impact 'neutral' Iran's pending return to the oil and tanker markets following the likely lifting of sanctions has received a largely positive welcome.
Ferry runs aground All passengers have been evacuated from a ferry that suffered power failure off Indonesia.
FMC checks ports deal US regulators are seeking more information on a containership cooperation agreement with US west coast terminals.
One dead after collision Another seafarer still missing following smash between general cargoships off Zhoushan.
Tong ups Seadrill ante Chinese billionaire Tong Jinquan has strengthened his position in John Fredriksen's Seadrill.
Dynagas Partners seeks $86m George Procopiou's Dynagas Partners is looking to raise over $86m from a preferred equity offering.
Tankers leave Ceyhan Nine vessels head from Turkish port after Iraq cancels crude loadings.
TNK stacks the shelf Teekay Tankers has positioned itself to sell securities worth up to $150m, according to a filling to US financial regulators.
Teekay aframax held A Teekay Tankers aframax was detained in Canada last month after being suspected of a discharge violation.
Icon fixes out duo Malaysia's Icon Offshore has announced two long-term charters for its anchor-handlers.
Epic closes fundraiser Epic Gas has completed its previously announced private placement to existing shareholders raising $50m in the process.
Scorpio goes shopping US-listed product tanker owner has picked up another couple of newbuilding resales.
Fennica heads for repair A Finnish multipurpose icebreaker damaged while on charter to Shell in Alaska is set to head to the US for repairs.
Evergas names pair of new dual-fuel LNG carriers Vessels can transport ethane, LPG and LNG.
Owners lose out in OW court case Judge finds that bunker contract remains valid.
More detail on EU support for DFDS projects Four ECA routes, six scrubber installations and seven ports are beneficiaries, two bigger projects turned down.
Stena gains EU funding for scrubbers But application for developing LNG bunker supply infrastructure in Baltic turned down.
Endofa recruits trading manager New hire Peter Grunwaldt has shipping and bunkering background.
Singapore bunker conference for September Will cover regional market developments.
Japan: Bonded bunker sales down Volumes fall on month and on year, data shows.
Cold ironing arrives at Chinese port Move part-funded by local government.
Courts reach opposite conclusions in OW 'interpleader' cases Conflicting outcomes shows level of complexity of case, says Reed Smith.
Asian shipping firm adds to fleet In fuel-saving move.
Chinese port opens first shorepower connection System to cut GHG emissions by over 2,100 mt per year.
Brightoil founder increases ownership in firm Total of value of transaction at $2.34 million.
Courts reach opposite conclusions on OW Bunker case Conflicting outcomes shows level of difficulty and complexity of case, explains Reed Smith.
Asian shipping firm in fuel-saving move Company to add three vessels to fleet this year.
Klaipeda LNG reloading station project receives EU funding Receives $6.6 million in financial support.
Quebec commissions 'first North American LNG-fuelled ferry' Vessel is first of three LNG-powered ferries.
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