Box shippers seek improved port metrics Better data on port terminal dwell times could be used by box lines to pressure terminals into making their gates more efficient, according to US importers. The suggestion was revealed in a US Federal Maritime Commission staff report on US container port congestion, released on 14 July. The report
Commission applauds SNCM aid repayment ruling The European Commission today welcomed a European Court of Justice judgement condemning France for not reclaiming illegal aid totalling EUR220 million (USD242 million) paid to bankrupt French Mediterranean ferry operator SNCM. The judgement, released last week, opens the way to further court action
DSME's banks consider debt restructuring The Korea Development Bank (KBD) and other creditor banks of Daewoo Shipbuilding & Marine Engineering are considering a debt workout plan for the financially troubled shipbuilder, the latter revealed on 15 July. In a Korea Exchange filing South Korea's third biggest shipbuilder said, "A concrete
Shanghai Salvage-led consortium tipped to win Sewol salvage job South Korea's Ministry of Oceans and Fisheries (MOF) and Public Procurement Service have named a consortium led by China's state-run Shanghai Salvage as the preferred bidder to hoist the capsized ferry Sewol. A consortium led by China Yantai Salvage and Titan Salvage are second and third in line
Swiber plans two-for-one share consolidation Singapore-listed offshore services provider Swiber Holdings has proposed a two-for-one share consolidation to comply with a Singapore Exchange (SGX) listing requirement. Under the requirement introduced by the Monetary Authority of Singapore and SGX, companies registered with the SGX Mainboard are
Three crew die, two in hospital after suspected toxic gas inhalation Three crew members of the Panama-flagged bulk carrier Hiram died after reportedly inhaling poisonous gas off Pengerang, Malaysia. Two other crew members of the 28,450 dwt vessel who were also thought to have been exposed to the gas were taken to hospital by the Malaysian Maritime Enforcement Agency
Icon Offshore secures $14.5m supply vessel contract Malaysian offshore services provider Icon Offshore has secured a contract worth MYR55 million (USD14.5 million) to supply two anchor handling tug/supply vessels (AHTS) to an oil major. The contract was signed by its wholly owned subsidiary Icon Offshore Group. Under the contract, both vessels will
Incheon Port seeks top 50 ranking by 2025 Incheon aims to boost its position in the rankings of the world's busiest posts by 2025. Currently, the South Korean port languishes below the World Shipping Council's top 50 container ports. Last year it handled 2.33 million teu, which it expects to grow by 11.4% in 2015. But that is still far
Changhang Phoenix H1 profits fall at least 35.6% Changhang Phoenix, a bulk carrier operating unit of Sinotrans&CSC, predicted on 14 July the decrease in profit of between 35.6% and 43.7% year on year (y/y) in the first six months of 2015 on lower one-off income. In the first six months of 2014, Changhang Phoenix's profit totalled CNY186.4 million
Taiwan's big three boost revenue in 1H15 Taiwan's top carriers - Wan Hai, Yang Ming, and Evergreen - have recorded improved revenue for the first half of 2015 (1H15). Wan Hai posted TWD33.6 billion (USD1.1 billion) revenue for the January-June period, up 7.12% or TWD2.2 billion from a year earlier. However, the carrier's June revenue
SapuraKencana wins $273m Indian contract Malaysia-listed offshore services provider SapuraKencana Petroleum (SapuraKencana) has clinched a development project worth USD273 million in India. The contract was signed with India-headquartered Oil and Natural Gas Corporation (ONGC) on 27 June for Mumbai High South Redevelopment Phase-III
Sainty Marine predicts a bigger loss for 1H15 Shenzhen-listed Sainty Marine predicted its losses would deepen to between CNY350 million (USD56 million) and CNY370 million for the first six months of 2015, an increase in the figure that was estimated in April. The increase in the forecast loss resulted from higher asset impairment on
Sembcorp Marine to build world's largest DP3 semi-submersible crane vessel Singapore-listed offshore services provider Sembcorp Marine has signed a construction contract worth USD1 billion with Heerema Offshore Services (HOS) to build the world's largest DP3 semi-submersible crane vessel (NSCV). The engineering and construction contract is a follow up to an earlier
Iran deal impact 'limited' The Iranian nuclear accord will not provide a major lift to crude tanker rates in the near or intermediate term, according to several industry analysts. The landmark agreement finalised on 14 July will be submitted to the UN Security Council for approval. Ninety days after approval, sanctions would
OW Bunker test case goes to appeal as Sinopec intervenes Pappas interests given green light as Chinese oil giant asks to be heard
Aker Solutions sees lower second-quarter profits and order intake Oslo-listed energy services provider hit by offshore market downturn
Busan aims to oust Hong Kong as world's second-largest transhipment port South Korean port ramping up efforts to develop infrastructure in order to host fully-loaded 22,000 teu boxships
Euronav pounces on West Africa opportunity Crude tanker player secures money-spinning fixture with loading date as far out as late-August
China Shipping Development offers $80m loan guarantee to subsidiary Total loan guarantees now amount to $1.1bn, accounting for 31% of the company's total net assets
DSME said to be facing $1.7bn offshore woes South Korean shipbuilder starts debt restructuring talks as share price drops by 30%
Panama retakes lead in Asia-US east coast trade Weekly capacity rises 20% year on year to reach record level
New orders slump at Chinese yards More than 70% contraction threatens weaker yards
Newcastle coal carrier queues lengthen Asian coal demand and railway maintenance are some of the reasons listed for increased congestion at the Port of Newcastle in New South Wales
Pioneer selects V.Ships India to manage its entire fleet Singapore-based geared bulker operator sees cost reduction opportunities in partnership
Sembcorp Marine wins $1bn order for world's biggest semisubmersible crane vessel Recently opened Tuas yard will build ship for Heerema Offshore Services that will be used to install and remove oil rigs
Intermodal pricing slipped in June as US truckload rates rose Contract truckload rates increased year-over-year and month-to-month in June, as truckload carriers benefited from shipper concerns about capacity, according to Cass Information Systems. The Cass Truckload Linehaul Index for June rose 0.5 percent from May, reversing a two month decline, and was up 3.6 percent year-over-year, the freight payment company said...
CSX says it's regaining intermodal business lost to trucks CSX Transportation is recovering after losing domestic intermodal business to the trucking sector in 2014, railroad executives said on an earnings call Wednesday. That's a far cry from what CSX said in January, when executives said there were no signs that the railroad would lose any business to its over-the-road rivals...
Charleston volume growth forecast to slow after 'memorable' yea The Port of Charleston's double-digit volume growth is expected to slow to about 5 percent during the coming year but will remain above the U.S. market average, said Jim Newsome, CEO at the South Carolina Ports Authority. Charleston posted increases of 12.3 percent in loaded 20-foot-equivalent units and 14.4 percent in...
Average LA-LB truck turn times hit hour and a half Harbor truckers in Los Angeles-Long Beach are accepting the fact that, at least for the moment, turn times are stuck at about 90 minutes, when a little over a year ago average turn times in the largest U.S. port complex were about one hour. The reason for this grudging acceptance of...
Grand Arabia Forwarding & Fortune International wins Shamsuna solar project Grand Arabia Forwarding and FORTUNE International Transport srl were recently awarded the customs clearance and local land trucking in addition to some seafreight, airfreight, and land freight services for one of the Solar projects in Jordan "Shamsuna PV Solar Project" in Aqaba. Shamsuna PV Solar Project is a 10 MW solar...
Hapag-Lloyd's container ship Cap Blanche suffers engine fire We regret to inform you that the Cap Blanche suffered a fire in the engine room on July 11, 2015 while the vessel was docked in Vancouver. Fortunately there were no injured personnel and the fire was extinguished quickly. The engine room was damaged and will require extensive repairs. We understand...
Morocco becomes Africa's search and rescue training hub Morocco has become a key area for maritime search and rescue (SAR) training and has been designated to host the regional centre covering the sea areas of the countries of Morocco, Mauritania, Senegal, the Gambia, Cape Verde and Guinea Bissau. Next week sees the latest meeting of the regional North and...
UPS expands global heavy freight service in Latin America, Europe For the second time this year, UPS is expanding its global express freight service, adding eight origin and five destination countries for time-sensitive, high-value heavyweight shipments. That brings the total number of origin and destination countries and territories served by UPS Worldwide Express Freight to 58 and 56, respectively, the transport...
Evergreen and BSY Associates hit 40-year mark working together HOLMDEL, NJ -- In the public relations agency business where long-term relationships are a rarity, Barbara Spector Yeninas and her company, BSY Associates Inc., are marking the ongoing 40-year partnership with Taiwan-based global ocean carrier Evergreen Marine Corporation and its U. S. -based agency, Evergreen Shipping Agency (America) Corporation (Jersey City,...
Ailing APMT Itajai loses SeaLand service Port of ItajaiThe APM Terminal at the Port of Itajai, already hobbled from the loss of an East Asia service that provided a good chunk of its volume and revenue, has been dealt another blow by a line owned by its parent company. SeaLand announced on Tuesday that it would shift...
Incheon port aims to boost productivity, volume via projects Port of IncheonThe Port of Incheon, South Korea hopes to catapult itself into the top 30 globally in terms of size and productivity by deepen its harbor to better handle mega-ships and through the opening of new terminals. Incheon Port Authority in 2014 opened Terminal B of the Incheon New Port...
Taiwanese carriers ride intra-Asia trade growth to higher revenue The three largest Taiwanese carriers, Wan Hai, Yang Ming and Evergreen Line saw their January to June revenues increase year-over-year, largely due to growing intra-Asia trade. Wan Hai, which specializes in the intra-Asia trade, posted the strongest gains, with revenue growing 7 percent from $1.03 billion to $1.1 billion. The company...
CSX sees tough haul ahead after record profit quarter CSX Transportation surprised Wall Street and industry analysts, posting all-time record high second quarter earnings, but they were clear: The railroad won't be as fortunate next quarter. Strong pricing, low fuel prices and property sales won't be enough to offset the headwinds of a diminishing demand for coal, a slumping carload...
Antwerp port plans on-dock LNG fuel station LNG fueling operations at the Port of AntwerpThe Port of Antwerp is seeking proposals for construction and operation of an on-dock liquefied natural gas fueling station to serve the small but growing market for LNG-powered vessels. Antwerp has provided truck-to-barge LNG fueling since 2012 wherein trucks delivered LNG from a terminal...
Dedicated trucking demand drives Marten Transport growth Strong shipper demand for dedicated trucking service is fueling growth and higher profit at temperature-controlled truckload carrier Marten Transport. The Mondovi, Wisconsin trucking company increased its profit in the second quarter, while adding trucks to bolster its growing dedicated trucking business. Marten, like other carriers, is riding a wave of shipper interest...
Long Beach port president confident diversions won't last Port of Long BeachThe ports of Long Beach and Los Angeles will win back most of the market share they lost to East and Gulf Coast ports during labor disruptions this past year by moving cargo to eastern destinations faster and cheaper than other ports are able, Long Beach's chief...
CargoSmart launches new sailing schedule platform HONG KONG - CargoSmart Wednesday launched a new sailing schedule search platform aimed at helping shippers and logistics service providers manage their ocean routes while having added visibility. Known as "big schedules" the program will source ocean carriers' published sailing schedules and live vessel location data in order to provide...
Cosco Pacific first-half figures shrug off slowing China trade HONG KONG - Cosco Pacific's Ningbo container terminal handled almost 20 percent more containers in the first half compared to the same period last year, helping overall throughput at the port just south of rival Shanghai to grow by 9 percent.Of the 10.5 million 20-foot-equivalent units that moved through Ningbo...
Chinese farmers go Internet shopping - for tractors One of the thousands of tractors offered for sale on Alibaba's online Taobao Marketplace.HONG KONG - China's 700 million farmers can now buy their tractors online through an Alibaba Group's e-commerce platform following the recent launch of a shopping channel dedicated to farm products.In an interesting, if unexpected, online shopping...
FMC suggests industry advisory council on US port congestion The U.S. Federal Maritime Commission is considering formation of an industry advisory council to discuss port congestion, and said a starting point might be demurrage and per-diem detention fees. The commission floated the idea in an 88-page summary of four FMC hearings last fall on port congestion, which the commission called...
VLCCs reach 2015 high Eastbound VLCCs in the Middle East market have reached their highest spot market earnings level since December.
Hapag-Lloyd picks IPO banks Hapag-Lloyd has selected a trio of investment banks to help it launch a EUR 5bn ($5.5bn) initial public offering (IPO), according to media reports.
Hot summer for tankers Teekay has backed the tanker market fire to keep burning during this summer but it believes earnings are likely to slip back a little next year.
DSME heading for a fall Korean shipbuilder DSME has admitted it is facing more losses this year, with sources claiming the deficit could be as much as KRW 2 trillion ($1.75bn).
Zvezda opening next year The first phase of Russia's big new Far East shipyard will be completed in 2016.
Second quarter spur for stocks? Evercore has dialled up its tanker expectations suggesting a strong second quarter results season should finally install investor confidence in the recovering market.
Korean yards to share South Korea's three major shipbuilders are providing their specialised technological know-how to smaller rivals to help them build eco-ships.
Seanergy in growth mood Seanergy Maritime Holdings is looking to get active in the S&P market after recovering from a restructuring.
Signal settles labour lawsuit Bankrupt US yard group to pay $20m to 200 guest workers in alleged trafficking case.
NAT boosts dividend Nordic American Tankers has again jacked up its dividend in a hot suezmax market.
Crewman airlifted The US Coast Guard (USCG) has airlifted a seafarer from a Greek bulker off Alaska after he suffered a suspected stroke.
Bonheur sees red Norway's Bonheur has posted a big loss for the second quarter of the year, although revenue was boosted.
Chinese land Sewol contract A Chinese-led group has won a deal to raise the sunken Korean ferry Sewol.
DSME heading for a fall Korean shipbuilder DSME has admitted it is facing more losses this year, with sources claiming the deficit could be as much as KRW 2 trillion ($1.75bn).
Black Sea bid Finland's Containerships is launching a new service linking Russia to Turkey.
Nakilat boosts earnings Qatar Gas Transport Company (Nakilat) has logged a 10% rise in first half profit as it lowered costs.
Dof crewman killed A crewman has been crushed to death on a Dof anchor-handler in rough weather off Pilbara, Australia.
Boxship loses power A containership has made it safely into a port on the US east coast after suffering a reported power failure.
Maersk to scrap rig Maersk Drilling is to scrap its oldest rig in China in the face of the deteriorating situation in the offshore market.
SMM's $1bn beauty Heerema Offshore Services and Sembcorp Marine have finally put pen to paper on a $1bn offshore newbuilding deal.
Swiber to consolidate Swiber Holdings has proposed a share consolidation program in a bid to maintain compliance with local listing requirements.
Genco approved for NYSE return Genco Shipping & Trading won approval to trade on the New York Stock Exchange (NYSE).
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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