Port of Virginia works to cut congestion Lost productivity due to weather-related closures has forced the Virginia Port Authority (VPA) to adjust operations at Port of Virginia to reduce congestion at one of the US east coast's largest box terminals. VPA announced that, starting on 13 March, it had reduced the number of days export
HHI's Suezmax orderbook boosted South Korean shipbuilder Hyundai HI has won new orders for three Suezmax tankers from two Greek shipowners. Firstly, Arcadia Shipmanagement has booked two 158,000dwt units to add to four vessels it contracted in 1H14, which are due for delivery during 2017. Meanwhile, Thenamaris has penned a
Ex-NCL CEO sues Branson's Virgin Colin Veitch, former CEO of Norwegian Cruise Line (NCL), has filed suit against Richard Branson's Virgin Cruises, alleging breach of contract and misappropriation of business ideas. The Virgin Group officially confirmed plans to order newbuilds and enter the cruise sector in December 2014. Veitch's
Jiangzhou Union secure MPP vessels China's Jiangzhou Union shipbuilding yard has signed contracts for two 12,500dwt multipurpose heavy lift vessels from returning German owners. The vessels were ordered by Hamburg based Auerbach Schifffahrt Gmbh and will be built under hull numbers JZ1067 and JZ1068 with deliveries pencilled in from
Hyundai Samho secure two Aframax vessels Korea's Hyundai Samho shipyard has won an order for a pair of Aframax tankers. The 115,000dwt tankers were booked by Belgian owners Transpetrol with deliveries slated for late 2016. No price was reported but brokers are indicating a price of USD55 million each. The Belgian owners have a 84,000cbm
Long-term visibility key for offshore sector The supply of increasingly sophisticated vessels, needed to support offshore wind energy projects, could contract unless policy-makers inject more certainty and standardisation into the industry.
Long Beach launch "Peel Off" program Loaded export containers on the US west coast will be getting more priority as a box expediting programme spreads throughout the Los Angeles-Long Beach port complex. The Port of LA's "Peel Off" program, which launched on 25 February, is helping clear a backlog of import boxes at port terminals that
Abbot Point expansion gets the go ahead Indian conglomerate Adani's previously aborted plan to dredge and expand Australia's northern Queensland coal port of Abbot Point has finally got the go ahead. A new proposal put forward by Queensland Bulk Terminals to place sediment on spare port land, known as the T2 site, instead of on the
Australian ports reopen following Cyclone Olwyn Australia's Pilbara ports of Dampier and Ashburton reopened today as category 3 tropical Cyclone Olwyn headed south. Woodside, Pluto, Mermaid Marine Supply Base, Burrup Materials private berths, the Rio Tinto iron ore terminal, and Dampier salt terminal were reopened at midday local time. "There
Taiwan's February exports down by 6.7% Taiwan recorded exports of USD19.86 billion in February, down 6.7% year on year (y/y), data released by the Ministry of Finance on 9 March showed. The Lunar New Year holiday reduced the working days of February and the falling crude prices sapped demand for petrochemical products, which accounted
CHEC to suffer loss on suspended port project China Harbour Engineering Company (CHEC), the company engaged in a port city project in Sri Lanka, is to suffer the loss of USD380,000 per day since the suspension of the project, according to a statement from the company on 11 March. The subsidiary of China Communications Construction Company
Sainty Marine sues compatriot over USD8 mil. Shenzhen-listed Sainty Marine has filed a lawsuit against a compatriot steel supplier over CNY50 million (USD8 million) in prepayment for steel. In April 2013, Sainty Marine signed a contract with Shanxi Zhongyang Iron and Steel to purchase 15,384.62 tonnes of steel for CNY50 million, a stock
Malaysia authorises IRClass as RSO The Malaysian Marine Department (MMD) has given the green light for Indian Register of Shipping (IRClass) to act as a Recognised Security Organisation (RSO) for ships operating under Malaysian Flag Administration. As an RSO, IRClass will carry out verification and approval of ship security plans,
'K' Line scraps young Capesize Japan's third-biggest shipowner Kawasaki Kisen Kaisha ('K' Line) has sold a 15-year-old Capesize bulker for demolition. IHS Maritime's Sea-web.com data show that 2000-built Cape Flora was sold for recycling last week. The Baltic Dry Index's plunge to a historic low this year has catalysed
Bearish short-term outlook for Supramaxes A heavy orderbook and sluggish commodities demand mean Supramax bulkers, including Ultramaxes, will struggle in the short term. Italian broker Banchero Costa, which examined the fleet of 40,000-64,999 dwt bulkers, noted that the active fleet consists of 2,807 units - equivalent to about 151 million
Maersk Line appoints new chief financial officer Hewlett Packard's Pierre Danet to take over from Jakob Stausholm who moves strategy role
Russian oil production dips leave tankers unscathed... for now Russia's problems with sanctions mean tanker sector will keep a close eye on developments
China CSSC Holdings posts $7m profit for 2014 But operating losses at $42.4m as the company books a huge amount of one-off gains
Capital Product Partners shelves bond offering Owner says that the refinancing plan was 'opportunistic' in nature
Opec lays into North America in new oil diatribe Oil cartel pulls no punches as it blames North America for current oil market chaos
GRIs delayed as rates slide again Carriers with services from Asia to northern Europe are now targeting price increases to come into force in April
Portland dispute rumbles on Court rules in terminal operator's favour on productivity slowdowns until August 2013 but says it hasn't been proved they continued beyond this date
Fully LNG-fuelled containership 'not in my lifetime', says Gerry Wang Seaspan chief executive thinks the concept of LNG ready ships needs to be clarified
Seaspan set for more boxship orders at Yangzijiang Shipbuilding New York-listed containership lessor plans to continue expansion in 10,000 teu and 14,000 teu sector
ITIC warns of increase in fraudulent diversion of payments View changes of account details with suspicion, says insurer
Industry viewpoint: The American Dream is still possible Recent union contract negotiations at the ports of LA and Long Beach show how
Black swans and Captain Ian Finley to keep product tanker industry gripped Fears over escalation of strikes at US refineries and new Middle Eastern capacity are sure to be hot topics at next week's conference - just watch out for grillings by the chairman
Abbot Point coal terminal gets the green light from state authorities Final approval from Australian federal government is still required
Hong Kong moves a step closer to low-sulphur legislation Regulation will come into force this July if lawmakers give it a go
Uneasy truce but no peace yet on US west coast Negotiating process broken but what is the alternative?
Truckload carriers Landstar, Covenant add capacity as freight demand grows Rising truckload freight demand lead Landstar System and Covenant Transportation to expand their available capacity in the first quarter, as the truckload carriers reported increased revenue and more loads compared with the storm-crippled quarter a year ago. "We continue to add truck capacity to the network and currently exceed 9,000 trucks...
Gov. Scott's effort to lure California cargo to Florida could backfire Florida Gov. Rick Scott's attempt to lure shippers - from Bacardi to IKEA - away from California may not necessarily bring big business to the Sunshine State, but it will bring the national media attention that some say Florida ports need. It's that same national media attention that could produce the...
Eastbound trans-Pacific spot rates rise but reliability declines U.S. shippers importing goods from Asia to the West Coast are paying more in the spot market for ocean shipping but getting worse service in return, a function of carriers' pricing power gained from strong demand and the effects of the congestion. The average spot rate to move a 20-foot container...
Reopened Houston container terminal works on cargo backlog Longshoremen at Port of Houston's largest container terminal are digging through a backlog of containers and will work well into the weekend after two vessels collided on Monday in the Houston Ship Channel, forcing the closure of the facility and leaving dozens of ships stranded. "It's all hands on deck right...
Put the focus on modernization As the JOC Group held its 15th Annual TPM Conference in Long Beach, California, this month, it didn't require any imagination to see the results of nine months of contentious labor negotiations that led to slowdowns and crisis-level congestion at the ports. Even though a tentative contract had finally been reached...
A turning point for longshore labor? Standing on the stage at this month's TPM Conference, Matthew Shay delivered a pointed message to those responsible for months-worth of delays, millions of dollars in lost retail sales, and the loss of jobs and export opportunities: "Enough is enough! The interest of thousands" can no longer threaten the livelihood...
Dockworker negotiating process must change, TPM told; ILA reacts At the depths of the 2008-09 recession, Ford Motor Co. and the United Auto Workers reached a landmark labor agreement that contributed to the rescue of one of the United States' largest and oldest automakers. Today, Ford not only is surviving, but also thriving. Speaking to more than 2,000 attendees at...
Job openings at US transport, warehouse firms rise 23 percent The number of job openings in the U.S. transportation and warehousing industries increased 23 percent year-over-year in January, but businesses in those industries lost more workers than they hired that month, according to data from the U.S. Bureau of Labor Statistics. Although the recent spike in separations is most likely seasonal...
TPM 2015 Keynote Address Karl Gernandt, chairman of the board of directors at Kuehne + Nagel International AG, the world's largest ocean forwarder, delivers the opening keynote address at the 15th annual TPM conference in Long Beach, Calif. on March 2. Introduced by Frank Mottek, business news anchor for CBS radio in Los Angeles,...
Barges face 'serious' bottlenecks in Rotterdam, Antwerp Rotterdam and Antwerp risk a return to the congestion that blighted the leading European container ports in 2014 after a major barge operator warned it might levy a surcharge in response to "serious" bottlenecks. Barges have to wait up to 92 hours to process cargoes in Rotterdam and face delays of...
India averts nationwide port strike threat An agreement between Indian dockworker union leaders and labor board officials was reached late Friday, averting a threatened indefinite nationwide strike that would have seriously disrupted operations at the country's major ports. The unions said they withdrew the strike notice after authorities agreed to address the workers' concerns over a planned...
Mergers, acquisitions, relaunch to reshape S. America box trade Full-size chartThe usually staid U.S.-South America ocean container trade is undergoing a shakeup, and it starts at the top of the carrier hierarchy. Maersk Group, which operates the world's largest container line, in January relaunched its SeaLand brand into the north-south trade, while two European ocean carriers each have acquired a...
APL Logistics to set up Sri Lanka hub HONG KONG - APL Logistics will establish a regional consolidation hub for South Asia in Sri Lanka by the second half of 2015, the Singapore-based forwarder has announced.In its first major announcement since being acquired by Kintetsu World World Express (KWE) for a premium $1.2 million, APL Logistics said it...
SCFI: Asia-Europe spot rate hits 18-month low as slow season bites HONG KONG - Freight rates fell on all major east-west trades this week with Asia-Europe recording $708 per TEU, its lowest level in almost 18 months, according to the latest reading of the Shanghai Containerised Freight Index (SCFI).The slow season has arrived in earnest and slashed 13 percent off the...
CN derailment leads to delays at Port Metro Vancouver The derailment of a CN train carrying crude oil in Ontario on March 7, which closed a main line from Toronto to British Columbia, has led to delays to container movements at Port Metro Vancouver. "We continue to experience significant congestion issues in Vancouver. The backlog of rail traffic has resulted...
Bumpy, slow-motion recovery from West Coast labor standoff Operations at the SSA Marine terminal in Oakland returned to normal Thursday following a dock worker shutdown on Wednesday. Nevertheless Oakland, and other West Coast gateways, for the next two months at least will be digging out from the container and vessel backlogs that built up during coastwide labor negotiations...
Truckers serving Port of Virginia grapple with congestion For days now, trucks in Southeast Virginia have queued in hour-long lines, blocking highway exits and struggling to enter Virginia International Gateway, once prided as the most efficient container terminal in the state. Truckers on Thursday were comparing congestion in Virginia to the likes seen on the U.S. West Coast at...
ER torches orders Affiliates of ER Offshore have terminated contracts to construct platform-supply vessels (PSVs) after filing for insolvency in Germany.
Oldendorff fixes newbuild Oldendorff is said to have chartered a new Ugland Bulk Transport supramax which has just been launched.
Ferry falls in dock A Scandlines ferry has suffered severe damage in a dock accident at the Remontowa shipyard in Poland.
Six figures in sight VLGC spot rates moved to within a fraction of $100,000 daily on Friday as earnings raced on at a traditionally weak time of year.
Captain held Master of Singapore-flagged tug detained in Indonesia for alleged illegal entry.
AVS buys manager Turkish chandler AVS Global Ship Supply has taken over Dutch shipmanager Q-Shipping.
Solvang ups stakes Norwegian owner Solvang has topped up its shareholding in three vessels.
Tripoli cries foul Libya's rival parliament based in Tripoli has accused forces in Es Sider of trying to sell and load crude outside of official channels.
Olympian heights We take a look at what was said in the market over the past week.
Samsung's man of steel Samsung Heavy Industries is looking to cut material costs with the hire of a steel analyst.
Fleeing ship fired on Turkey's coast guard fired on a domestic cargoship as part of an operation to detain 337 mainly Syrian migrants on board.
Ships before shares Diana Shipping should place vessel purchases ahead of further investments in its own stock, Drewry Financial Research says.
CSL goes Dutch India's Cochin Shipyard has signed an agreement with Dutch yard IHC to collaborate on constructing dredgers for the domestic market.
Solomon tries again South Korea's Solomon Savings Bank and asset subsidiary Golden Bridge are again seeking to sell a panamax bulker as it rolls off charter, brokers say.
Galapagos glitch Pumping of contaminated water from a cargoship that grounded off the Galagapos Islands six weeks ago has been halted.
Bimco sees dry cap Depression in the dry cargo markets is set to stick around for the next couple of months with rates in all of the sub-sectors expected to remain below $10,000 daily, Bimco says.
Scrubbers no solution A German environmental group has said scrubbers - one of shipping companies' most popular solutions for regulation compliance - are "over-estimated".
'The fire was literally one step behind us' When Andreas and Elena Oikonomou escaped the blazing Norman Atlantic ferry with their young daughter, they thought they were safe. But their ordeal had just begun. Nick Roumpis reports
Sometimes you just have to let the music speak for itself From Lord Kitchener to Bob Marley, Jimmy Cliff, Joan Armatrading, Grace Jones, Nicki Minaj and Rihanna... Dave Martins belongs to a long line of Caribbean musical exports.
Hit the road Cars have loomed large for Excelerate boss Rob Bryngelson since he was a toddler, and not always in a good way.
Arty party When Clarksons closed its Geneva specialist products tankers desk in late 2012, Peter Cauro transferred to clean tankers but soon left to pursue other interests. Those 'other interests' turned out to be very interesting.
Norse things happen at sea Horned helmets, unkempt beards, murder, rape and looting: that's the picture conjured up for most people of Viking warriors spilling from dragon-headed longships.
The TW+ guide to...Tjipetir
Our new ferry, I presume? It seems as though the Ilala has been criss-crossing Lake Malawi since David Livingstone first explored these parts. But that's changing, as Janie Hampton discovers.
On the right course The right course for Jung Sung-Leep used to be the golf course. These days, he tells Irene Ang, it refers to the direction in which he is steering STX
The dhows of Dubai: Anchored in centuries of tradition
Is 20 February past its sell-by date? It may be time to look at scrapping the industry's annual scramble for P&I insurance, suggests Jim Mulrenan
Clowning glory John Fredriksen did it, but didn't have a lot to say. Gregory Hadjieleftheriadis did it, and said quite a bit.
Shipping will take a role in Greece's new politics
Taking on the world The Nakilat boss tells Lucy Hine how he plans to make the Qatari LNG carrier a global shipowning force.
Marinakis. The man behind The Legend Gillian Whittaker finds a new side to the Capital boss as they talk politics, football and, yes, a little shipping.
Kalakala for sale - in pieces Scrap pieces of the historic US art-deco ferry Kalakala are going on sale.
Bison comes home Boa Offshore has reflagged a vessel from Malta to Norway to take advantage of state incentives.
Clipper swaps HFO tanks Clipper Group has expanded the marine gas oil (MGO) storage capacity aboard a series of bulkers to help meet new sulphur regulations.
Seven for SCI State-run Shipping Corporation of India (SCI) has confirmed an order for five offshore ships at Cochin Shipyard, while also tendering to buy two LPG carriers.
NYK man faces US jail An NYK employee has been sentenced to 15 months in a US jail for his part in a ro-ro trade price fixing scandal.
Kwa lifts NOL stake Neptune Orient Lines (NOL) chairman Kwa Chiong Seng has increased his stake in the liner operator financial disclosures reveal.
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